A crypto trader said a former Revolut employee tried to extort him and contacted his relatives. Revolut confirmed an investigation and said no systems were breached. A cryptocurrency trader said a former Revolut employee tried to extort him by threatening to publish his personal information unless he paid a ransom, an allegation that Revolut has confirmed it reported to law enforcement. The trader, who posts under the name TraderSZ, wrote in a Thursday post on X that the former employee threatened to disclose his identity and private details and also contacted members of his family. TraderSZ said relatives who used Revolut received messages seeking to pressure him into paying. TraderSZ posted screenshots he said show exchanges with Revolut’s customer support regarding the incident. Cointelegraph contacted TraderSZ for additional details, including what specific information was accessed and whether a formal complaint had been filed, but did not immediately receive a response. Read more
Curve founder Michael Egorov told Cointelegraph that protocols cannot “live without real revenues flowing” as token incentives lose power to attract liquidity. Decentralized finance (DeFi) can no longer rely on inflationary token incentives to sustain growth, according to Curve Finance founder Michael Egorov. In an interview with Cointelegraph, Egorov said protocols must generate real revenue rather than depend on emissions to attract liquidity. “Your yield should come from revenues, not from tokens,” Egorov told Cointelegraph. “You need real revenues flowing.” He added that if a token “is not doing something, maybe it’s better for you to not do token at all.” Read more
Standard Chartered slashed its forecast for T-bill demand from stablecoins to $800 billion to $1 trillion by 2028, but maintained its $2 trillion stablecoin market call. Standard Chartered analysts stuck to their forecast that the stablecoin market will reach $2 trillion by late 2028, despite lowering expectations for short-term US Treasury bill demand. Stablecoins like Tether’s USDt (USDT) and Circle’s USDC (USDC) are expected to push T-bill demand to $2.2 trillion by 2028, Standard Chartered analyst Geoffrey Kendrick and US rates strategist John Davies said in a Monday report shared with Cointelegraph. Despite the US dollar stablecoin market cap stalling at around $300 billion in recent months amid a broader crypto downturn, the analysts remain bullish since the passage of the US GENIUS Act in 2025. Read more
Citrini Research’s 2028 scenario imagines AI turbocharging corporate profits, while hollowing out consumer demand and quietly migrating global payments to stablecoins on cheap chains. Thematic equity and global macro analysis company Citrini Research has published a new post imagining the world of 2028 that sketches an economy transformed by artificial intelligence. In Citrini’s version of near-future history, AI finally delivers on its productivity promise, as companies cut staff, profits surge and stocks roar. The post is framed as a macro memo from June 2028 and has been shared widely on X. In Citrini’s scenario, equity markets initially celebrate the efficiency shock. The S&P 500 “flirted with 8000,” and the Nasdaq “broke above 30k,” as investors celebrated a new era of productivity. Read more
The Austrian Financial Market Authority has frozen new business at KuCoin EU months after granting the exchange a MiCA license, citing gaps in key AML and sanctions roles. Austria’s financial regulator has prohibited KuCoin EU Exchange from conducting new business, citing breaches of internal organizational requirements around Anti-Money Laundering (AML), counter-terrorist financing (CTF) and the observance of financial sanctions. The Thursday decision by the Austrian Financial Market Authority (FMA) means KuCoin’s Vienna-based entity cannot onboard new customers or conclude new contracts or products within existing relationships until key compliance functions are “appropriately filled.” Sabina Liu, managing director at KuCoin EU, told Cointelegraph that two compliance professionals holding designated AML and sanctions oversight functions in Austria had “recently departed,” and that such mobility was common in “any regulated industry.” Read more
Strategy bought 592 Bitcoin for $39.8 million in its 100th purchase, increasing holdings to 717,722 BTC. Strategy bought 592 Bitcoin for about $39.8 million last week, marking its 100th purchase since the company adopted its Bitcoin-focused treasury strategy in August 2020. The latest purchase brings the company’s total holdings to 717,722 BTC, acquired at an aggregate cost of $54.56 billion, according to a US Securities and Exchange Commission filing on Monday. The newly acquired Bitcoin was purchased at an average price of $67,286 per BTC, inclusive of fees and expenses. The purchases were funded through the sale of 297,940 shares of Strategy’s Class A common stock under its at-the-market (ATM) offering program between Tuesday and Sunday. The sales generated net proceeds of about $39.7 million, according to the filing. Read more
Base rode SocialFi, memecoins and AI agents to the top of Ethereum’s layer-2 ladder before turning inward to rebuild its core stack. Base will transition to a unified, internally maintained stack, expected to be its biggest architectural shift since launch. After debuting in 2023 as a rollup built on Optimism’s OP Stack, Coinbase’s Ethereum layer 2 is now consolidating its software into an in-house distribution, which can unlock faster upgrades and greater autonomy over its technical roadmap. It has been three years since Base launched its testnet. The network has experienced SocialFi explosions and ridden its own memecoin wave. It even went through a phase that both fascinated and unnerved Crypto Twitter as AI agents began transacting on its chain. Read more