Crypto cards force asset sales and tax hits. Onchain credit enables yield-bearing collateral power spending without liquidation, making cards obsolete interfaces. Opinion by: Vikram Arun, co-founder and CEO of Superform Crypto cards aren't the future of payments. They're a temporary interface for a world that hasn't fully accepted cryptocurrencies. They rely on banks as issuers, Visa or Mastercard as gatekeepers, and compliance rules that look exactly like TradFi. Read more
RedotPay says it restructured teams for efficiency after a Bloomberg report flagged executive turnover, China sensitivities and new funding talks. Hong Kong-based stablecoin payments company RedotPay said it has “consolidated” teams to improve efficiency as it scales, after a report claimed executive turnover and sensitivities tied to its mainland China connections. On Wednesday, a Bloomberg report claimed RedotPay is facing leadership churn and sensitivities tied to China as it explores raising up to $150 million. Citing people familiar with the matter, the report said that at least five senior hires left the stablecoin company within a year, including two compliance chiefs, and described a demanding work culture with extended hours. In February, Bloomberg reported that RedotPay is considering a US IPO that could raise over $1 billion and value the company at more than $4 billion. The company was reported to be working with JPMorgan, Goldman Sachs and Jefferies on a potential New York listing that could take...
Connecticut halts Bitcoin Depot’s operations, with the company expecting lower revenue in 2026 amid mounting regulatory pressure and a steep decline in its stock price. Bitcoin Depot, a publicly traded cryptocurrency ATM provider, is facing mounting regulatory pressure in the US amid a steep stock decline and a weak revenue outlook. The Connecticut Banking Commissioner, through the Consumer Credit Division, issued a temporary cease-and-desist order against Bitcoin Depot on March 9, summarily suspending its money transmission license in the state. The order cites multiple alleged violations of the Connecticut Money Transmission Act, including failure to maintain minimum net worth, excessive fees and incomplete refunds to consumers who fell victim to scams. Read more
A UK parliamentary committee urged an immediate moratorium on crypto political donations until stronger safeguards are in place. A cross-party parliamentary committee in the United Kingdom has urged the government to impose an immediate moratorium on cryptocurrency donations to political parties until stronger safeguards are in place. In a report published on Wednesday, the Joint Committee on the National Security Strategy said the government should amend the Representation of the People Bill to impose an “immediate moratorium on crypto donations” until the Electoral Commission produces statutory guidance ahead of the next general election, due by August 2029. The committee also called for the creation of a Political Finance Enforcement Unit to oversee these activities and reduce the minimum threshold for declaring political donations from 11,180 British pounds ($14,900) to 500 pounds ($668), and proposed increasing the maximum custodial sentences to three years for wrongdoing involving foreign financing. Rea...
Tally said its platform served more than one million users, supporting governance across hundreds of organizations and processing over $1 billion in payments. Decentralized autonomous organization (DAO) governance platform Tally is shutting down after five years of operations, citing a lack of sustainable business models for governance tooling in the crypto market. Tally co-founder and CEO Dennison Bertram said the company will begin winding down at the end of March. He added that the company is not moving forward with a planned initial coin offering (ICO), concluding that it could not confidently deliver on the expectations that would come with selling tokens to investors. Tally’s closure comes despite years of activity on its platform, which supported governance for hundreds of organizations and processed more than $1 billion in payments, according to Bertram. At its peak, the company said it helped secure up to $80 billion in value and served more than 1 million users. Read more