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Initia Halts Blockchain After $2.6M Token Exploit
Initia suspended its layer-1 network and rollups after researchers reported unauthorized token minting and more than $2.6 million transferred to Ethereum. The pause is intended to contain the exploit while investigators assess the vulnerability and trace the stolen assets.
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BLOOM: Singapore, Malaysia, Thailand Unite on Digital Currencies
Singapore, Malaysia, and Thailand have joined BLOOM, an initiative exploring cross-border payments with stablecoins and tokenized deposits. The partnership could reduce transfer costs and settlement times across Southeast Asia.
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HSBC Launches Hong Kong Dollar Stablecoin for Payments
HSBC has launched RedCoin, a Hong Kong dollar-backed stablecoin available through its PayMe wallet. The product brings blockchain payments to more than 3.3 million users and highlights Hong Kong’s push to become a digital-asset hub.
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Wells Fargo, Intuit Join Corporate Revolt Against Tokenized Stocks
Wells Fargo, Intuit, and Arm Holdings have joined the growing list of companies opposing tokenized stock trading, bringing total holdouts to 22. Their concerns highlight the regulatory and operational hurdles facing Wall Street’s blockchain experiment.
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Crypto Tax Relief: Industry Calls for Clearer US Rules
The Blockchain Association is asking Congress to create crypto tax relief for small payments, clarify stablecoin treatment, and revise how staking rewards are taxed. The proposals could make digital asset transactions easier for users and businesses.
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Pentagon Bans Military Insider Trading on Polymarket
The Pentagon has banned military personnel and employees from trading on Polymarket, Kalshi, and similar platforms using nonpublic information. The policy follows an alleged $400,000 betting case and raises broader questions about prediction-market regulation.
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Southeast Asia Expands Cross-Border Stablecoin Pilot
Singapore, Malaysia, and Thailand are expanding Singapore’s BLOOM initiative to test cross-border stablecoins and tokenized deposit settlement. The project, involving Ripple, Visa, and Mastercard, highlights Southeast Asia’s push toward regulated blockchain-based payments.
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SoFi Launches Tokenized Deposit With 4.40% APY
SoFi’s new SOFIE token represents money held at SoFi Bank and advertises a 4.40% APY. It can also convert into SoFiUSD, linking traditional deposits with blockchain transfers.