OKX says the card supports USDC and USDG spending, is issued via Monavate on Mastercard’s network and is available to verified EU users. Cryptocurrency exchange OKX is rolling out a payment card in Europe, allowing users to spend stablecoins at merchants accepting Mastercard. The OKX Card is issued through the company’s Electronic Money Institution (EMI) partner, Monavate, OKX said Wednesday in an announcement shared with Cointelegraph. At launch, the card supports spending in stablecoins including Circle’s USDC (USDC) and the Paxos-issued Global Dollar (USDG). Read more
Chainalysis says the on-chain money laundering ecosystem processed $82 billion in funds in 2025, with Chinese-language networks now dominating. The use of centralized crypto exchanges for laundering illicit funds is on the decline, with Chinese-language money laundering networks now being used more than ever, according to Chainalysis. Chainalysis said in a report on Tuesday that informal service-based networks offered through Chinese-speaking channels have a wide variety of laundering-as-a-service businesses that use money mules, informal over-the-counter trade desks, and gambling platforms to mix and swap crypto. The networks emerged during the start of the COVID-19 pandemic in early 2020, and now “dominate known crypto money laundering activity.” Read more
Morgan Stanley largely sat out the first wave of institutional crypto adoption across 2024–2025 but surprised many with three crypto ETF filings earlier this month. Morgan Stanley has tapped veteran executive Amy Oldenburg to lead the investment bank’s new crypto unit, just weeks after announcing plans to launch three crypto exchange-traded funds and a crypto wallet. Oldenburg will transition to head of digital asset strategy after working in Morgan Stanley’s emerging markets equity team since 2001, Bloomberg reported on Tuesday. Oldenburg has been leading the emerging markets team since November 2021, where she was tasked with driving the division’s digital asset strategy. Read more
The US Marshals Service confirmed “the matter is under investigation” following claims that millions in government-seized crypto was stolen. US authorities have confirmed that an investigation is underway into claims that the son of a federal contractor tasked with safeguarding seized digital assets stole more than $40 million in cryptocurrency. A spokesperson for the US Marshals Service confirmed to Cointelegraph that “the matter is under investigation” but declined to comment on details of the case. The investigation centers on social media claims that John Daghita, son of Command Services & Support (CMDSS) president Dean Daghita, gained unauthorized access to wallets managed under the federal asset protection program. Crypto sleuth ZachXBT disclosed on Friday that he had traced a wallet linked to Daghita holding about $23 million in crypto connected to as much as $90 million in assets believed to have been seized by the government in 2024 and 2025. ZachXBT later said that he had reported to authorities ano...