India is piloting its digital rupee (e-rupee) for welfare, with $80B in benefits targeted. Aims: curb subsidy leakage & corruption. Maharashtra farmers get programmable drip irrigation subsidies. Gujarat plans food subsidy migration by June. E-rupee has $3.6B in cumulative transactions since Dec 2022, vs. UPI's $300B monthly.

RBI also proposes 2026 BRICS summit to interconnect member CBDCs. Goal: reduce US dollar reliance, though potential geopolitical risks exist. This interoperability push could shift global finance & challenge dollar dominance.

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Societe Generale's crypto arm, SG-FORGE, is onboarding more crypto firms, CEO Jean-Marc Stenger announced. The bank is providing traditional banking services to 15 crypto-native clients (exchanges, brokerages, wallet providers) as the EU crypto market matures post-regulation. Stenger expects corporate clients to increase stablecoin adoption and anticipates crypto firms seeking Euro-denominated stablecoins to serve European retail customers, looking for alternatives to current market providers.

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a16z-backed MTS launches as the first "timeline-native" 24-hour news network. Broadcasting live on social media, MTS covers tech, finance, geopolitics, and culture in real-time, helping users understand unfolding events as they happen.

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Fed Nominee Powell Vows Independence on Interest Rates. Politico reports Powell pledged unwavering independence on rate matters, underscoring the Fed's commitment to politically free monetary policy for price stability & max employment. #FederalReserve #InterestRates #MonetaryPolicy #Powell

CFTC & SEC propose easing hedge fund reporting! 🚀 Key changes:
✅ AUM threshold for all private fund managers raised from $150M to $1B. This could exempt ~50% of filers, still covering >90% of assets.
✅ "Large hedge fund adviser" threshold jumps from $1.5B to $10B.
✅ Smaller hedge fund managers will see elimination of quarterly & "current reporting," plus reduced detailed reporting. This should ease compliance for ~2/3 of institutions filing quarterly.
Public comment period: 60 days after Federal Register publication. #Nostr #HedgeFunds #Regulation #CFTC #SEC #Finance

Justin Sun injects another $55M USDC into Spark Protocol, bringing his total investment to an estimated $179M. The move comes after a prior deposit of 53,665 ETH ($124M) to Spark, following concerns about bad debt on Aave. This significant capital inflow highlights Sun's confidence in Spark's lending capabilities.

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Crypto market saw $366M in liquidations in 24hrs. Longs suffered the most ($247M), with shorts at $119M. BTC liquidations hit $117M, ETH $116M. This shows the high risk in leveraged crypto trading. Dominant long liquidations suggest traders expected a rally that was met by a sharp downturn.

#crypto #blockchain #news #BTC #Bitcoin

Spot gold dips below $4800. Trading at $4798.28, down 0.69% daily. Bybit market data.

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Kelp DAO points to LayerZero's default "1 out of 1" validator config as the root cause of the $290M bridge hack. Attackers compromised 2 LayerZero servers, rerouted DVN traffic, and stole ~116.5k rsETH. Kelp DAO had discussions with LayerZero about DVN config in July but no explicit change requests were made. LayerZero's docs showcase 1/1 as default, used by ~40% of integrations. Kelp's core restaking contracts remain secure.

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French listed company Capital B ($ALCPB) increased its #Bitcoin holdings by 12 BTC to 2,937 BTC. Ranked 26th on Bitcoin 100, this strategic investment highlights confidence in BTC as a store of value and institutional asset.

US forces have directed 27 vessels to divert or return to Iran following the implementation of a blockade on ships entering/exiting Iranian ports and coastal areas, according to US Central Command.

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Abu Dhabi-based tokenization platform KAIO has raised $8M in strategic funding, led by Tether. Total funding now $19M.

KAIO enables asset managers (like BlackRock, Brevan Howard) to tokenize & distribute funds on-chain, lowering investment minimums to ~$100 for qualified investors.

Plans include expanding into credit, structured products, & ETFs. Collaborating with Mubadala Capital for on-chain funds & USDT liquidity integration.

KAIO currently manages ~$100M in assets & has processed over $500M in transactions.

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