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Ivan, a Russian crypto trader and freelance designer from Yekaterinburg, claims that the cryptocurrency exchange MEXC Global (often referred to as MXC) froze his trading account with over $9.15 million under dubious and unverified accusations. He states that he actively used the platform for over a year, but in response to his inquiries, he received only fabricated excuses, absurd demands, and no evidence of wrongdoing.

Ivan, a Russian crypto trader and freelance designer from Yekaterinburg, claims that the cryptocurrency exchange MEXC Global (often referred to as MXC) froze his trading account with over $9.15 million under dubious and unsubstantiated accusations. According to him, he actively used the platform for over a year, but in response to his requests, he received only fictitious excuses, absurd demands, and no evidence of wrongdoing.

Against the backdrop of politicians promoting memecoins, such as Donald Trump, and the lack of strict regulation, criminal activity in the crypto industry has significantly increased. Blockchain crime investigators claim that the dropping of cases related to cryptocurrency has exacerbated the situation.

Against the backdrop of politicians promoting memecoins, such as Donald Trump, and the lack of strict regulation, criminal activity in the crypto industry has significantly increased. Blockchain crime investigators claim that the dismissal of cryptocurrency-related cases has exacerbated the situation.

Political figures, including Donald Trump, promoting memecoins, along with relaxed regulations, have sparked what experts call a crypto ‘crime supercycle’. Investigators in the blockchain sector attribute this to increased negligence following the dismissal of a number of court cases by US authorities.

ZachXBT, a blockchain investigator, highlighted that the crypto environment’s susceptibility to exploitation has worsened after politicians started backing memecoins and regulatory bodies dropped certain legal challenges. This, according to him, has amplified negative behavior in the industry.

According to ZachXBT, prominent influencers and thought leaders in the cryptocurrency space continue to engage in scams without facing significant consequences. They’re alleged to evade repercussions even as they defraud their audience.

He warned that while illicit activities like phishing, social engineering, and robberies thrive, there remains potential for white-collar tactics like gray hat operations to benefit from the current industry climate.

Additionally, ZachXBT remarked on the significant regulatory gaps that allow these activities to flourish unchecked. He critiqued the focus on blue-chip protocols instead of targeting violations such as undeclared advertising and other infractions that perpetuate dishonest practices.

During Q1 2025 alone, scams and hacks drained over $2 billion from the crypto sector. Notably, phishing scams constituted over $96 million of this sum, while rug pulls surpassed $300 million, as documented by cybersecurity entity Hacken in their latest report.

Meanwhile, blockchain investigator Taylor Monahan voiced concerns that scammers have little incentive to amend their ways as the pursuit of profit continues to reward fraudulent activities. These incidents underscore the current landscape’s complexity, where rapid financial gains further lure individuals into criminal conduct.

Monahan noted that, in the face of minimal social, financial, or legal deterrents, scams remain alarmingly easy to execute with the promise of quick returns only encouraging bad actors.

Despite this grim appraisal, some scammers have recently faced legal actions. Interestingly, the U.S. Department of Justice, in a recent declaration, revealed a massive asset seizure by the Secret Service, amounting to over $225 million associated with crypto scams.

Political figures, including Donald Trump, promoting memecoins, along with relaxed regulations, have sparked what experts call a crypto ‘crime supercycle’. Investigators in the blockchain sector attribute this to increased negligence following the dismissal of a number of court cases by US authorities.

ZachXBT, a blockchain investigator, highlighted that the crypto environment’s susceptibility to exploitation has worsened after politicians started backing memecoins and regulatory bodies dropped certain legal challenges. This, according to him, has amplified negative behavior in the industry.

According to ZachXBT, prominent influencers and thought leaders in the cryptocurrency space continue to engage in scams without facing significant consequences. They’re alleged to evade repercussions even as they defraud their audience.

He warned that while illicit activities like phishing, social engineering, and robberies thrive, there remains potential for white-collar tactics like gray hat operations to benefit from the current industry climate.

Additionally, ZachXBT remarked on the significant regulatory gaps that allow these activities to flourish unchecked. He critiqued the focus on blue-chip protocols instead of targeting violations such as undeclared advertising and other infractions that perpetuate dishonest practices.

During Q1 2025 alone, scams and hacks drained over $2 billion from the crypto sector. Notably, phishing scams constituted over $96 million of this sum, while rug pulls surpassed $300 million, as documented by cybersecurity entity Hacken in their latest report.

Meanwhile, blockchain investigator Taylor Monahan voiced concerns that scammers have little incentive to amend their ways as the pursuit of profit continues to reward fraudulent activities. These incidents underscore the current landscape’s complexity, where rapid financial gains further lure individuals into criminal conduct.

Monahan noted that, in the face of minimal social, financial, or legal deterrents, scams remain alarmingly easy to execute with the promise of quick returns only encouraging bad actors.

Despite this grim appraisal, some scammers have recently faced legal actions. Interestingly, the U.S. Department of Justice, in a recent declaration, revealed a massive asset seizure by the Secret Service, amounting to over $225 million associated with crypto scams.

On June 14, 2025, Kyiv became the epicenter for the Web3 community from across Ukraine and the world as it hosted Incrypted Conference 2025. Organized by Ukraine’s largest crypto media outlet, Incrypted, the event gathered nearly 3,000 participants at the Parkovy Convention and Exhibition Center, reaffirming its status as the biggest crypto conference in Eastern Europe.

Key numbers from the event:

3,000+ offline participants

8,000+ views of the conference recording

34,000+ views of the online marathon

25+ speakers

30+ partners

40+ media partners

Additionally, during a charity auction held at the event, nearly 750,000 UAH were raised to support Ukrainian soldiers.

Throughout the day, attendees listened to presentations by leading industry experts, participated in networking, and explored the latest products in the crypto industry. Over 25 speakers took the stage, including developers, CEOs of blockchain and crypto-focused companies, and representatives of Ukrainian state authorities.

Among the notable guests were Bitcoin developer Peter Todd, whom HBO has referred to as a potential Satoshi Nakamoto, and several Ukrainian officials actively involved in shaping crypto regulations: Danylo Hetmantsev, Yaroslav Zhelezniak, and Ruslan Magomedov. Other prominent speakers included Anton Dziuba (CEO of DOUBLETOP), Kostiantyn Kudo (Cryptology Key), Cryptomannn, and various experts in crypto markets, Web3, trading, and cybersecurity.

 

The conference covered pressing topics for the crypto community: regulation of digital assets in Ukraine, the evolution of Web3, trading strategies, anti-manipulation measures, and the current state of the market. Attendees were not only able to listen to speaker presentations but also engage with them offstage.

Incrypted also organized an online livestream of the conference, which has already been viewed by over 8,000 people. Ahead of the offline event, as part of Ukrainian Blockchain Week, the team also held an online marathon, which received over 34,000 views on YouTube and X (Twitter). The broadcast featured top industry players, including Richard Teng (CEO of Binance), Illia Polosukhin (co-founder of Near Protocol), Armani Ferrante (founder of Backpack), Jason Lau from OKX, and many others.

The conference was supported by over 30 partners, many of whom had booths where visitors could test services, win prizes, and talk directly with project teams.

Over 40 media outlets, including international ones, partnered with Incrypted Conference 2025 — a testament to the growing global interest in Ukraine’s crypto market.

“Every year, Incrypted Conference raises the bar. In 2025, we not only gathered a record number of offline participants but also attracted thousands of online viewers. This shows that the Ukrainian crypto community is more alive and ambitious than ever”, said Ivan Pavlovskyy, CEO of Incrypted.

He also emphasized that Incrypted will continue working toward its mission — to promote and grow Ukraine’s Web3 community.

The media team also organized Ukrainian Blockchain Week, which featured a series of Web3-focused events throughout the week. Incrypted aims to bring top crypto projects to Ukraine so that the local community not only stays informed about global trends but plays an active role in shaping them.

“We have every reason to succeed: Ukrainian developers, founders, and teams already play key roles in leading global projects. Almost every blockchain company has a Ukrainian in a C-level position. Our potential is incredible. And our goal is not just to maintain this level but to make Ukraine one of the epicenters of the global Web3 ecosystem,” added Pavlovskyy.

On June 14, 2025, Kyiv became the epicenter for the Web3 community from across Ukraine and the world as it hosted Incrypted Conference 2025. Organized by Ukraine’s largest crypto media outlet, Incrypted, the event gathered nearly 3,000 participants at the Parkovy Convention and Exhibition Center, reaffirming its status as the biggest crypto conference in Eastern Europe.

Key numbers from the event:

3,000+ offline participants

8,000+ views of the conference recording

34,000+ views of the online marathon

25+ speakers

30+ partners

40+ media partners

Additionally, during a charity auction held at the event, nearly 750,000 UAH were raised to support Ukrainian soldiers.

Throughout the day, attendees listened to presentations by leading industry experts, participated in networking, and explored the latest products in the crypto industry. Over 25 speakers took the stage, including developers, CEOs of blockchain and crypto-focused companies, and representatives of Ukrainian state authorities.

Among the notable guests were Bitcoin developer Peter Todd, whom HBO has referred to as a potential Satoshi Nakamoto, and several Ukrainian officials actively involved in shaping crypto regulations: Danylo Hetmantsev, Yaroslav Zhelezniak, and Ruslan Magomedov. Other prominent speakers included Anton Dziuba (CEO of DOUBLETOP), Kostiantyn Kudo (Cryptology Key), Cryptomannn, and various experts in crypto markets, Web3, trading, and cybersecurity.

 

The conference covered pressing topics for the crypto community: regulation of digital assets in Ukraine, the evolution of Web3, trading strategies, anti-manipulation measures, and the current state of the market. Attendees were not only able to listen to speaker presentations but also engage with them offstage.

Incrypted also organized an online livestream of the conference, which has already been viewed by over 8,000 people. Ahead of the offline event, as part of Ukrainian Blockchain Week, the team also held an online marathon, which received over 34,000 views on YouTube and X (Twitter). The broadcast featured top industry players, including Richard Teng (CEO of Binance), Illia Polosukhin (co-founder of Near Protocol), Armani Ferrante (founder of Backpack), Jason Lau from OKX, and many others.

The conference was supported by over 30 partners, many of whom had booths where visitors could test services, win prizes, and talk directly with project teams.

Over 40 media outlets, including international ones, partnered with Incrypted Conference 2025 — a testament to the growing global interest in Ukraine’s crypto market.

“Every year, Incrypted Conference raises the bar. In 2025, we not only gathered a record number of offline participants but also attracted thousands of online viewers. This shows that the Ukrainian crypto community is more alive and ambitious than ever”, said Ivan Pavlovskyy, CEO of Incrypted.

He also emphasized that Incrypted will continue working toward its mission — to promote and grow Ukraine’s Web3 community.

The media team also organized Ukrainian Blockchain Week, which featured a series of Web3-focused events throughout the week. Incrypted aims to bring top crypto projects to Ukraine so that the local community not only stays informed about global trends but plays an active role in shaping them.

“We have every reason to succeed: Ukrainian developers, founders, and teams already play key roles in leading global projects. Almost every blockchain company has a Ukrainian in a C-level position. Our potential is incredible. And our goal is not just to maintain this level but to make Ukraine one of the epicenters of the global Web3 ecosystem,” added Pavlovskyy.

Cryptocurrency enthusiasts are actively wagering on the likelihood that the GENIUS Act, a landmark US stablecoin regulation bill, will become law after its recent Senate approval. The online prediction platform Polymarket has set the odds at an 89% probability that the bill will pass both the House of Representatives and be signed by President Donald Trump before 2026. This betting market was initiated about 18 hours after the Senate passed the bill with a 68-30 vote on Tuesday.

The GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) establishes comprehensive federal standards for stablecoin issuers, including requirements for full reserve backing, monthly audits, and strict anti-money laundering compliance. The legislation aims to modernize the US financial system by enabling banks, fintech companies, and even major retailers to issue their own stablecoins or integrate them into payment networks.

Despite bipartisan Senate support, the bill faces uncertainty in the House, where Republicans hold a narrow majority. There is speculation that amendments might be introduced, especially concerning concerns over President Trump’s connections to the crypto sector, such as ties to World Liberty Financial’s stablecoin USD1. Previous attempts to add anti-corruption provisions linked to Trump were rejected in the Senate.

President Trump has publicly indicated willingness to sign the GENIUS Act “with no add ons” if the House passes it swiftly. Meanwhile, the House is also considering the CLARITY Act, which would clarify regulatory roles over digital assets. Aligning the Senate and House versions of stablecoin legislation could take time, as they differ in regulatory authority distribution.

Polymarket’s betting odds reflect the confidence of some crypto users in the bill’s eventual enactment but do not guarantee legislative outcomes. The platform captures how much participants are willing to stake on potential scenarios rather than providing a formal prediction of congressional or presidential actions.

The passage of the GENIUS Act marks a significant milestone for the cryptocurrency industry, signaling a shift toward federal recognition and regulatory clarity for stablecoins, which are viewed as a bridge between digital currencies and traditional finance. The bill’s enactment could catalyze growth in the US stablecoin market, projected to expand substantially in the coming years.

Cryptocurrency enthusiasts are actively wagering on the likelihood that the GENIUS Act, a landmark US stablecoin regulation bill, will become law after its recent Senate approval. The online prediction platform Polymarket has set the odds at an 89% probability that the bill will pass both the House of Representatives and be signed by President Donald Trump before 2026. This betting market was initiated about 18 hours after the Senate passed the bill with a 68-30 vote on Tuesday.

The GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) establishes comprehensive federal standards for stablecoin issuers, including requirements for full reserve backing, monthly audits, and strict anti-money laundering compliance. The legislation aims to modernize the US financial system by enabling banks, fintech companies, and even major retailers to issue their own stablecoins or integrate them into payment networks.

Despite bipartisan Senate support, the bill faces uncertainty in the House, where Republicans hold a narrow majority. There is speculation that amendments might be introduced, especially concerning concerns over President Trump’s connections to the crypto sector, such as ties to World Liberty Financial’s stablecoin USD1. Previous attempts to add anti-corruption provisions linked to Trump were rejected in the Senate.

President Trump has publicly indicated willingness to sign the GENIUS Act “with no add ons” if the House passes it swiftly. Meanwhile, the House is also considering the CLARITY Act, which would clarify regulatory roles over digital assets. Aligning the Senate and House versions of stablecoin legislation could take time, as they differ in regulatory authority distribution.

Polymarket’s betting odds reflect the confidence of some crypto users in the bill’s eventual enactment but do not guarantee legislative outcomes. The platform captures how much participants are willing to stake on potential scenarios rather than providing a formal prediction of congressional or presidential actions.

The passage of the GENIUS Act marks a significant milestone for the cryptocurrency industry, signaling a shift toward federal recognition and regulatory clarity for stablecoins, which are viewed as a bridge between digital currencies and traditional finance. The bill’s enactment could catalyze growth in the US stablecoin market, projected to expand substantially in the coming years.

South Korea’s Financial Services Commission (FSC) has announced a thorough investigation into the transaction fees charged by domestic cryptocurrency exchanges, aiming to lower trading costs for users, particularly young investors. This initiative aligns with the pro-crypto stance of the newly elected President Lee Jae-myung, who pledged during his campaign to reduce crypto trading fees to support youth participation in the market.

The FSC plans to survey major local exchanges, including Upbit, Bithumb, and Coinone, to analyze their current fee structures, charging methods, and total fees collected. The goal is to assess whether these fees impose an excessive financial burden on consumers and to compare them with international benchmarks to ensure competitiveness and fairness.

An FSC spokesperson emphasized the need to determine if domestic fees are disproportionately high relative to overseas platforms and noted that no fixed commission rate has yet been established. Policy standards will be developed based on a comparative analysis of global exchanges and user preferences.

This probe follows earlier regulatory actions, such as the imposition of a 0.6% supervision fee on exchanges’ operating revenue starting March 2025. For context, Upbit’s parent company Dunamu reported nearly 986 billion won ($714 million) in operating revenue for 2023, while Bithumb and Coinone reported significantly lower figures.

The investigation is part of a broader government effort to foster a more accessible and transparent crypto trading environment in South Korea. It may lead to regulatory interventions aimed at reducing fees, thereby encouraging greater market participation and supporting the country’s growing crypto ecosystem.

This move also complements other initiatives under President Lee’s administration, including exploring on-chain stablecoins and spot Bitcoin ETFs, designed to strengthen the domestic crypto market and curb capital outflows.

In summary, South Korea’s FSC is actively scrutinizing local crypto exchange fees as part of a strategic push to make cryptocurrency trading more affordable and competitive, especially for younger traders, reflecting the government’s commitment to nurturing a vibrant digital asset market.

South Korea’s Financial Services Commission (FSC) has announced a thorough investigation into the transaction fees charged by domestic cryptocurrency exchanges, aiming to lower trading costs for users, particularly young investors. This initiative aligns with the pro-crypto stance of the newly elected President Lee Jae-myung, who pledged during his campaign to reduce crypto trading fees to support youth participation in the market.

The FSC plans to survey major local exchanges, including Upbit, Bithumb, and Coinone, to analyze their current fee structures, charging methods, and total fees collected. The goal is to assess whether these fees impose an excessive financial burden on consumers and to compare them with international benchmarks to ensure competitiveness and fairness.

An FSC spokesperson emphasized the need to determine if domestic fees are disproportionately high relative to overseas platforms and noted that no fixed commission rate has yet been established. Policy standards will be developed based on a comparative analysis of global exchanges and user preferences.

This probe follows earlier regulatory actions, such as the imposition of a 0.6% supervision fee on exchanges’ operating revenue starting March 2025. For context, Upbit’s parent company Dunamu reported nearly 986 billion won ($714 million) in operating revenue for 2023, while Bithumb and Coinone reported significantly lower figures.

The investigation is part of a broader government effort to foster a more accessible and transparent crypto trading environment in South Korea. It may lead to regulatory interventions aimed at reducing fees, thereby encouraging greater market participation and supporting the country’s growing crypto ecosystem.

This move also complements other initiatives under President Lee’s administration, including exploring on-chain stablecoins and spot Bitcoin ETFs, designed to strengthen the domestic crypto market and curb capital outflows.

In summary, South Korea’s FSC is actively scrutinizing local crypto exchange fees as part of a strategic push to make cryptocurrency trading more affordable and competitive, especially for younger traders, reflecting the government’s commitment to nurturing a vibrant digital asset market.

1. Norway Plans Temporary Ban on Power‑Intensive Crypto Mining

Norway’s government is set to temporarily ban new data centers using power-intensive cryptocurrency mining methods, effective autumn 2025. The move aims to conserve electricity for key industries, with officials citing minimal local economic benefits and significant environmental concerns.  

2. Iran’s Nobitex Breached in $100 M Hack Amid Tensions

Iran’s largest crypto exchange, Nobitex, was hit by a cyberattack causing a $100 million loss. The hack purportedly by “Predatory Sparrow” triggered widespread internet blackouts. The breach highlights growing cyber-conflict between Iran and Israel.  

3. Bitcoin Rebounds to $106K — Risk Appetite Returns

Bitcoin climbed 1.1% to $106,081 after early-week dips, supported by easing geopolitical fears and continued investor risk appetite. Ethereum, XRP, and Solana also modestly rose. Analysts warn volatility could persist amid macro uncertainties.  

4. Coinbase Shares Surge 16% on Stablecoin Legislation Optimism

Shares of Coinbase jumped ~17% to $297, following passage of the U.S. GENIUS Act (stablecoin regulation), which cleared the Senate. The act validates stablecoin platforms and supports future expansion of crypto services.

Norway’s government is set to temporarily ban new data centers using power-intensive cryptocurrency mining methods, effective autumn 2025. The move aims to conserve electricity for key industries, with officials citing minimal local economic benefits and significant environmental concerns.  

2. Iran’s Nobitex Breached in $100 M Hack Amid Tensions

Iran’s largest crypto exchange, Nobitex, was hit by a cyberattack causing a $100 million loss. The hack purportedly by “Predatory Sparrow” triggered widespread internet blackouts. The breach highlights growing cyber-conflict between Iran and Israel.  

3. Bitcoin Rebounds to $106K — Risk Appetite Returns

Bitcoin climbed 1.1% to $106,081 after early-week dips, supported by easing geopolitical fears and continued investor risk appetite. Ethereum, XRP, and Solana also modestly rose. Analysts warn volatility could persist amid macro uncertainties.  

4. Coinbase Shares Surge 16% on Stablecoin Legislation Optimism

Shares of Coinbase jumped ~17% to $297, following passage of the U.S. GENIUS Act (stablecoin regulation), which cleared the Senate. The act validates stablecoin platforms and supports future expansion of crypto services.

In a staggering cybersecurity revelation, researchers have uncovered what is now considered the largest data breach in history, involving over 16 billion stolen login credentials. This massive leak includes sensitive account information from leading online platforms such as Apple, Google, Facebook, Telegram, GitHub, and various government services.

The breach is composed of numerous enormous datasets, some containing billions of records each, discovered by cybersecurity teams since early 2025. Unlike many previous leaks, these credentials are fresh, highly organized, and primarily harvested through infostealer malware, rather than being recycled from older breaches. This makes the data particularly dangerous and highly exploitable for cybercriminals aiming to conduct identity theft, account takeovers, and sophisticated phishing attacks.

Experts warn that this breach is not just a simple data leak but a “blueprint for mass exploitation,” providing cybercriminals with unprecedented access to a vast array of online services. The exposed data includes login credentials and passwords, enabling attackers to potentially infiltrate everything from social media and VPN accounts to developer portals and government platforms.

The scale of the breach is truly staggering, with researchers identifying around 30 datasets ranging from tens of millions to over 3.5 billion records each. Only one dataset, containing 184 million records, had been previously reported, highlighting the novelty and severity of this exposure.

Authorities and security experts are urging users worldwide to immediately change their passwords and adopt stronger authentication methods, such as passkeys and multi-factor authentication. Google has specifically recommended switching to passkeys, while the FBI has warned against clicking on suspicious links in SMS messages, which are often used in phishing campaigns exploiting such leaks.

This unprecedented breach underscores the critical need for vigilant cybersecurity practices by both individuals and organizations to mitigate the growing threat posed by increasingly sophisticated data theft operations.

In a staggering cybersecurity revelation, researchers have uncovered what is now considered the largest data breach in history, involving over 16 billion stolen login credentials. This massive leak includes sensitive account information from leading online platforms such as Apple, Google, Facebook, Telegram, GitHub, and various government services.

The breach is composed of numerous enormous datasets, some containing billions of records each, discovered by cybersecurity teams since early 2025. Unlike many previous leaks, these credentials are fresh, highly organized, and primarily harvested through infostealer malware, rather than being recycled from older breaches. This makes the data particularly dangerous and highly exploitable for cybercriminals aiming to conduct identity theft, account takeovers, and sophisticated phishing attacks.

Experts warn that this breach is not just a simple data leak but a “blueprint for mass exploitation,” providing cybercriminals with unprecedented access to a vast array of online services. The exposed data includes login credentials and passwords, enabling attackers to potentially infiltrate everything from social media and VPN accounts to developer portals and government platforms.

The scale of the breach is truly staggering, with researchers identifying around 30 datasets ranging from tens of millions to over 3.5 billion records each. Only one dataset, containing 184 million records, had been previously reported, highlighting the novelty and severity of this exposure.

Authorities and security experts are urging users worldwide to immediately change their passwords and adopt stronger authentication methods, such as passkeys and multi-factor authentication. Google has specifically recommended switching to passkeys, while the FBI has warned against clicking on suspicious links in SMS messages, which are often used in phishing campaigns exploiting such leaks.

This unprecedented breach underscores the critical need for vigilant cybersecurity practices by both individuals and organizations to mitigate the growing threat posed by increasingly sophisticated data theft operations.

Binance founder and former CEO Changpeng “CZ” Zhao has suggested that cryptocurrency platforms implement a “will function” to aid users in distributing their digital assets in the event of their passing.

Discussing a typically avoided subject, CZ emphasized: “Humans are not immortal.” He added, “Every platform should enable a ‘will function’ so that when a person is no longer present, their assets are allocated to designated accounts as specified.”

His plea came as Binance introduced a new emergency contact and inheritance feature in its update on June 12, allowing users to assign beneficiaries who could claim their crypto assets upon their demise.

In this update, the platform also enables users to notify a chosen emergency contact after a prolonged period of inactivity, facilitating the start of an inheritance claim process.

User CryptobraveHQ from X appreciated Binance’s initiative, labeling it “extremely considerate.” They mentioned that over a billion dollars in crypto assets remain unclaimed yearly due to unexpected fatalities and insufficient mechanisms.

While the community applauded the move, some expressed concerns regarding its limits. For instance, user Uniswap12 highlighted that Binance accounts embody tokenized wealth and non-tangible assets, including articles, social visibility, and influence.

“These hold more value to me than cash,” they commented, proposing the concept of transferring entire accounts to heirs, much like how phone numbers are handed down.

Various community voices echoed the necessity for meticulous inheritance arrangements in Web3. User Ghazi called it “an unavoidable reality,” and Binn celebrated the update as a stride towards decentralization, asserting it provides users with confidence regarding the future of their digital wealth.

In 2023, Dubai-based lawyer Irina Heaver stressed the importance of discussing one’s crypto holdings and formally integrating them into estate planning, emphasizing wills should detail technical instructions for accessing digital assets.

Binance founder and former CEO Changpeng “CZ” Zhao has suggested that cryptocurrency platforms implement a “will function” to aid users in distributing their digital assets in the event of their passing.

Discussing a typically avoided subject, CZ emphasized: “Humans are not immortal.” He added, “Every platform should enable a ‘will function’ so that when a person is no longer present, their assets are allocated to designated accounts as specified.”

His plea came as Binance introduced a new emergency contact and inheritance feature in its update on June 12, allowing users to assign beneficiaries who could claim their crypto assets upon their demise.

In this update, the platform also enables users to notify a chosen emergency contact after a prolonged period of inactivity, facilitating the start of an inheritance claim process.

User CryptobraveHQ from X appreciated Binance’s initiative, labeling it “extremely considerate.” They mentioned that over a billion dollars in crypto assets remain unclaimed yearly due to unexpected fatalities and insufficient mechanisms.

While the community applauded the move, some expressed concerns regarding its limits. For instance, user Uniswap12 highlighted that Binance accounts embody tokenized wealth and non-tangible assets, including articles, social visibility, and influence.

“These hold more value to me than cash,” they commented, proposing the concept of transferring entire accounts to heirs, much like how phone numbers are handed down.

Various community voices echoed the necessity for meticulous inheritance arrangements in Web3. User Ghazi called it “an unavoidable reality,” and Binn celebrated the update as a stride towards decentralization, asserting it provides users with confidence regarding the future of their digital wealth.

In 2023, Dubai-based lawyer Irina Heaver stressed the importance of discussing one’s crypto holdings and formally integrating them into estate planning, emphasizing wills should detail technical instructions for accessing digital assets.

Senate Passes Landmark Stablecoin Bill, Trump Declares America as Unrivaled Leader in Digital Assets

President Donald Trump has praised the Senate’s recent approval of a groundbreaking stablecoin bill, calling it a transformative measure that will establish the United States as the uncontested global leader in digital assets. The legislation, known as the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), passed the Senate with a 68-30 bipartisan vote and aims to create the first comprehensive federal regulatory framework for U.S. dollar-backed stablecoins.

Trump described the bill as “pure genius” and emphasized that “nobody will do it better,” urging the House of Representatives to swiftly pass a clean version of the bill without amendments or delays. He highlighted the bill’s potential to unleash massive investments and drive significant innovation in the digital asset sector, positioning the nation to dominate this emerging financial frontier.

The GENIUS Act mandates that stablecoins be fully backed by liquid assets such as U.S. dollars and short-term Treasury securities, with issuers required to disclose their reserve compositions monthly. This regulatory clarity is expected to encourage institutional participation and could expand the stablecoin market from its current $250 billion valuation to trillions, according to forecasts by Treasury Secretary Scott Bessent and other crypto market experts.

Trump’s administration views the legislation as a strategic move to reinforce U.S. dollar supremacy and foster a robust digital asset ecosystem. The bill’s passage in the Senate marks a significant milestone for the cryptocurrency industry, which has invested heavily in political advocacy to secure federal recognition and regulation.

With the House now tasked with approving the bill, Trump has called for rapid action to finalize the legislation and bring it to his desk, emphasizing that this is “American brilliance at its finest” and a demonstration of how the U.S. will lead and win in the digital asset space.

In summary, the GENIUS Act represents a pivotal step toward formalizing stablecoin regulation in the U.S., with President Trump championing it as a catalyst for massive crypto investment and innovation that will solidify America’s position as the undisputed leader in digital assets.

Senate Passes Landmark Stablecoin Bill, Trump Declares America as Unrivaled Leader in Digital Assets

President Donald Trump has praised the Senate’s recent approval of a groundbreaking stablecoin bill, calling it a transformative measure that will establish the United States as the uncontested global leader in digital assets. The legislation, known as the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), passed the Senate with a 68-30 bipartisan vote and aims to create the first comprehensive federal regulatory framework for U.S. dollar-backed stablecoins.

Trump described the bill as “pure genius” and emphasized that “nobody will do it better,” urging the House of Representatives to swiftly pass a clean version of the bill without amendments or delays. He highlighted the bill’s potential to unleash massive investments and drive significant innovation in the digital asset sector, positioning the nation to dominate this emerging financial frontier.

The GENIUS Act mandates that stablecoins be fully backed by liquid assets such as U.S. dollars and short-term Treasury securities, with issuers required to disclose their reserve compositions monthly. This regulatory clarity is expected to encourage institutional participation and could expand the stablecoin market from its current $250 billion valuation to trillions, according to forecasts by Treasury Secretary Scott Bessent and other crypto market experts.

Trump’s administration views the legislation as a strategic move to reinforce U.S. dollar supremacy and foster a robust digital asset ecosystem. The bill’s passage in the Senate marks a significant milestone for the cryptocurrency industry, which has invested heavily in political advocacy to secure federal recognition and regulation.

With the House now tasked with approving the bill, Trump has called for rapid action to finalize the legislation and bring it to his desk, emphasizing that this is “American brilliance at its finest” and a demonstration of how the U.S. will lead and win in the digital asset space.

In summary, the GENIUS Act represents a pivotal step toward formalizing stablecoin regulation in the U.S., with President Trump championing it as a catalyst for massive crypto investment and innovation that will solidify America’s position as the undisputed leader in digital assets.