1. Philippine lawmakers submit a bill to establish a national Bitcoin reserve, planning to purchase 10,000 Bitcoins within five years
Philippine Congressman Migz Villafuerte submitted Bill HB 421, proposing the establishment of a strategic Bitcoin reserve for the Philippines. The proposal calls for the Bangko Sentral ng Pilipinas (BSP) to purchase 2,000 Bitcoins annually for five consecutive years, totaling 10,000 Bitcoins, and to hold them for 20 years to ensure national security and debt stability.
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2. Huaxing Capital collaborates with YZi Labs to invest approximately $100 million for specialized allocation of BNB assets
Huaxing Capital announced a strategic cooperation memorandum with YZi Labs to support the application of BNB and the BNB Chain ecosystem, and to establish a mutually empowering partnership. The cooperation includes: the company will invest approximately $100 million to specifically allocate BNB assets, intending to become the first Hong Kong-listed company to include BNB in a special digital asset allocation; promoting Web3 ecosystem-related initiatives and facilitating the listing of BNB on compliant exchanges; and promoting real-world asset (RWA) funds and BNB Chain ecosystem projects.
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3. SharpLink's board approves a $1.5 billion stock buyback plan
Ethereum microstrategy company SharpLink announced that its board has approved a stock buyback plan amounting to $1.5 billion for the company's common stock. The company stated that the buyback would be more valuable when the stock price is below the net asset value of its ETH holdings. The buyback will be conducted through open market, private negotiation, or other legal means, with the specific timing and quantity depending on market conditions, and the company reserves the right to suspend or terminate the plan at any time. SER data shows that SharpLink holds a total of 740.8k ETH, with a current NAV of 1.06; while Bitmine's NAV is as low as 1.17.
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4. Taiwan prosecutors sue for money laundering involving virtual currency exchange, with funds amounting to NT$2.3 billion
Taiwan's prosecutors are investigating the largest virtual currency exchange in history for suspected money laundering. Today, the Shilin District Prosecutors' Office prosecuted 14 people, including the responsible person, Shi Qiren, for fraud, money laundering, and organized crime, and requested the confiscation of criminal proceeds of NT$1.275 billion. The prosecutors pointed out that Shi Qiren and others assisted fraud groups in exchanging cash for virtual currency through the unapproved offshore exchange CoinW and its affiliated franchise stores, establishing over 40 locations in Taiwan, with money laundering amounts reaching NT$2.3 billion within a year and over 1,539 victims. The case seized cash of NT$60.49 million, 640,000 USDT, and other assets. The prosecutors believe that Shi Qiren's refusal to plead guilty and poor attitude have caused significant harm, and they are seeking a 25-year prison sentence from the court.
5. Australia orders an audit of Binance's operations locally
Australia's Transaction Reports and Analysis Centre (AUSTRAC) has ordered an audit of Binance Australia due to serious issues with its anti-money laundering (AML) and counter-terrorism financing (CTF) controls. AUSTRAC noted that Binance's recent independent review was insufficient and raised concerns about high employee turnover, lack of local resources, and management oversight, questioning its compliance governance level. Binance Australia must nominate an external audit firm within 28 days for AUSTRAC to review and select.
6. RAKBANK in the UAE launches BNB trading services
CZ stated that BNB can now be traded at one of the largest banks in the UAE, RAKBANK. It is reported that RAKBANK has launched cryptocurrency trading services through its app, with BNB being one of the first eight cryptocurrencies available to customers.
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7. Coinbase CEO: Mandatory in-person training implemented to combat North Korean hackers seeking remote work
Coinbase CEO Brian Armstrong stated that North Korean IT workers are targeting Coinbase, and he is enforcing in-person training to combat North Korean hackers seeking remote work. Coinbase requires all employees to go to the U.S. for on-site training, and anyone who can access sensitive systems must be a U.S. citizen and undergo fingerprint identification. Brian Armstrong said that Coinbase requires potential employees to turn on their cameras during interviews 'to prove they are not artificial intelligence' or have not received guidance.
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