The retailer plans to build a platform for tokenized real-world assets, expanding beyond e-commerce after its 2023 bankruptcy. Bed Bath & Beyond has signed an agreement to acquire Tokens.com as part of a push into real estate finance and tokenized real-world assets, combining traditional financial products with blockchain-based infrastructure. According to a company announcement on Monday, Tokens.com, a blockchain-focused financial infrastructure company, will be used to develop a platform focused on real estate finance, tokenized securities and other real-world assets (RWAs), integrating blockchain systems with regulated financial services. Bed Bath & Beyond already owns or holds strategic stakes in blockchain businesses, including tZERO and GrainChain. Tokens.com will become a wholly owned subsidiary and is expected to rely on existing regulatory and operational infrastructure across the company’s blockchain businesses. Read more
Five New York officials reportedly said Tether and Circle had been incentivized to not work with law enforcement, allowing them to profit off crimes involving stablecoins. Several New York district attorneys have reportedly warned about the US federal stablecoin law, the GENIUS Act, claiming it fails to adequately address fraud. According to a Monday CNN report, New York Attorney General Letitia James and four district attorneys signed onto a letter saying that the GENIUS Act will “provide legal cover” for stablecoin issuers to potentially participate in fraud. The letter reportedly pointed a finger at issuers Tether and Circle, claiming that the companies have profited off crimes in stablecoin markets, specifically accusing Tether of only freezing some suspicious transactions in USDt (USDT). Read more
India is exploring cross-border use of the e-rupee to reduce payment costs, improve trade settlement efficiency and expand the rupee’s global role. India’s e-rupee has evolved from a domestic digital payment experiment into a strategic instrument aimed at influencing cross-border trade, remittances and tourism flows. The e-rupee represents sovereign digital money, enabling direct and final settlement without relying on multiple intermediaries for international payments. India views cross-border CBDC use as a way to address long-standing inefficiencies in global payments, including high costs and slow settlement times. Read more
Some crypto executives are explaining the nature of the business relationships with disgraced financier and sex offender Jeffrey Epstein. Alongside many of the world’s rich and powerful, some prominent leaders in the crypto industry are explaining their connections, however tenuous, with the late sex trafficker Jeffrey Epstein. The US Department of Justice (DOJ) released millions of new files on Saturday, among which appeared the names of several prominent crypto figures. The connections vary from passing mentions to possible investments and business ties with the disgraced former financier who was found dead in his prison cell in August 2019. Read more
Bitcoin printed its fourth red monthly candle in a row as BTC price dropped below $80,000, with traders dismissing the bull market returning. Bitcoin (BTC) fought to avoid a fresh price dive at Monday’s Wall Street open as traders increasingly gave up on the bull market. Key points: Many Bitcoin market commentators no longer see the return of the bull market. Read more