SBI Holdings, one of Japan's largest financial conglomerates, has completed the acquisition of a majority stake in Singapore-based crypto platform Coinhako, following approval from the Monetary Authority of Singapore (MAS).

 

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According to an SBI press statement, the acquisition of Coinhako represents a significant step in advancing its global digital asset strategy. Through the acquisition, SBI Holdings aims to leverage Coinhako's customer base, expertise, and regional network alongside its own financial services, technology, and global network.

 

"Our group aims to create a global corridor for digital assets by connecting exchanges around the world, enabling investors worldwide to make optimal investments without being hindered by national borders or currency barriers," said Yoshitaka Kitao, Chairman and President of SBI Holdings, Inc.

 

"Singapore, where regulations related to digital assets are ahead of the curve, is a crucial region in this regard, and we are very pleased that Coinhako, with its solid customer base and business know-how, has joined the SBI Group."

 

SBI Holdings' acquisition of a majority stake in Coinhako comes shortly after the company partnered with the Solana Foundation to launch Japan's first on-chain financial market, which it said is intended to seamlessly connect Japan with Southeast Asia.

 

About Coinhako 

Launched in 2014, Coinhako is a Singapore-based cryptocurrency exchange often described as one of the longest-standing in the Asia-Pacific region. Its founders, Yusho Liu and Gerry Eng, built it with a simple goal: to make it easy for Asians, especially Singaporeans, to buy Bitcoin and other cryptocurrencies with local fiat currencies.

 

Since its launch, Coinhako has grown into one of the largest cryptocurrency exchanges in Singapore, serving nearly 400,000 users and processing more than $10 billion in crypto transactions over the past two years. Its assets under custody are reported to total around $1 billion to $1.1 billion, while its workforce has grown from a small team to several dozen employees.

 

 

A U.K. court has sentenced three men for impersonating police officers and defrauding eight victims of more than £4 million ($5.4 million) worth of cryptocurrency.

 

According to the Metropolitan Police, the criminals called their victims, falsely claiming to be police officers and telling them that their crypto assets were at risk. They then persuaded the victims to provide their private credentials, which the trio used to transfer the funds to what the victims believed was a secure police account.

 

The Metropolitan Police also said the gang was highly organized and even created convincing police websites to deceive victims into believing they were legitimate. After receiving complaints from the victims in January 2025, officers launched an investigation into the case.

 

During the investigation, authorities identified common aliases, telephone numbers, websites, cryptocurrency wallets, and spending patterns that linked the gang together. Investigators also found that the suspects lived lavish lifestyles, despite one of them reporting an annual income of just £444.

 

Describing the investigation as highly complex and orchestrated by a group of calculated manipulators, Detective Inspector Geoff Donoghue of the Metropolitan Police's Cryptocurrency Unit said the team painstakingly traced the stolen funds while combining a range of investigative techniques to dismantle the criminal network.

 

The three men, Anthony Ikenwe, Hamza Bashir, and Kevin Nwamma, were convicted and sentenced at Southwark Crown Court.

 

Ikenwe, a resident of East Tilbury, was sentenced to six years in prison for conspiracy to commit fraud and five years for money laundering, with the sentences to run concurrently. Bashir, a resident of Wimbledon, was sentenced to three years and nine months for conspiracy to commit fraud and three years for money laundering, with the sentences to run concurrently.

 

Nwamma, a resident of Watford, was sentenced to six years for conspiracy to commit fraud and five years for money laundering, both sentences to run concurrently.

 

The sentencing comes around the same time that a court in Taiwan sentenced the founder of the Bitshine cryptocurrency exchange to 22 years in prison for using the platform to carry out a fraud scheme and launder money.

 

 

Humanity Protocol, the blockchain-based decentralized identity (DID) project, is pivoting toward enterprise AI following the June exploit that drained $36 million from the protocol's treasury.

 

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The pivot was revealed by the protocol's founder, Terence Kwok, on The Block's daily show, "The Starting Block." According to Kwok, the team had spent the last couple of months rethinking its direction, but the hack accelerated a shift that was already underway.

 

"I think, in light of the hack, we're probably moving forward by repositioning ourselves less as a blockchain company or an identity or decentralized ID project," Kwok told Gareth Jenkinson, anchor of The Block's daily show, during the interview.

 

As part of the repositioning, Kwok said the Humanity Protocol team would focus on building products and services tied to enterprise AI. According to him, identity will only become more relevant in a world increasingly shaped by AI.

 

Kwok also pushed back against earlier claims that the hack was a rug pull orchestrated by the team. In the aftermath of the exploit, on-chain investigator ZachXBT said the incident was "possibly staged" and that he was "not buying the team's story."

 

ZachXBT claimed the team had been "crime pumping" the protocol's H token for weeks and that the exploit was the best way for active market makers to exit. However, after analyzing on-chain evidence and laundering flows, he revised his assessment, concluding that the hack was caused by a private key compromise.

 

How the Hack Happened

 

The Humanity Protocol hack was caused by a serious operational security failure. The laptop of one of the protocol foundation members was compromised. Because the laptop contained multiple Gnosis Safe multisig keys, the attacker obtained enough signatures to gain control of the protocol's Hyperlane bridge ProxyAdmin.

 

Once granted admin privileges, the attacker drained the existing H tokens from the protocol's wallets and bridges. The attacker also upgraded contracts and minted roughly 200 million additional H tokens across Ethereum and BNB Chain.

 

As a result, about $36 million worth of H tokens, the protocol's native cryptocurrency, was lost. The H token also crashed by nearly 90%, falling from about $0.67 to $0.85 to as low as $0.05 to $0.13.

 

World, a fully on-chain, Solana native prediction market powered by Chainlink that aims to compete with Kalshi and Polymarket, has launched on Phantom Wallet.

 

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According to the team, the World prediction market will allow users to predict outcomes on crypto price movements and the ongoing 2026 FIFA Men's World Cup. Additional markets across sports, geopolitics, and macroeconomics will be added in the coming weeks.

 

"Prediction markets are one of the most powerful applications you can build on a high-performance blockchain," said Pedro Miranda, Head of Consumer at the Solana Foundation. "World is designed to show what Solana makes possible: real-time markets, on-chain settlement, and a user experience that meets people where they are."

 

Unlike most prediction markets that require users to interact with centralized infrastructure, World is designed to operate entirely on-chain. Every market, every position, and every settlement happens on-chain; as such, users do not have to move their funds to any custodial or centralized entity, as they can interact directly with Solana liquidity.

 

The platform uses $CASH as its settlement stablecoin. Since it’s launched directly within the Phantom Wallet, World will be available to more than 20 million Phantom Wallet users. It is also important to note that this World project is entirely different from Sam Altman's World. This World is a prediction market project, while Sam Altman's World is an identity project.

 

World's launch comes at a time when prediction markets are gaining significant traction, especially since the start of the 2026 FIFA Men's World Cup. Since early June, prediction market platforms, including Kalshi and Polymarket, have seen inflows of more than $3.8 billion.

 

Despite regulatory challenges in some jurisdictions, prediction market companies continue to grow and expand. Kalshi and Polymarket have both recently secured substantial funding from investors. Kalshi recently raised funding at a $22 billion valuation, while Polymarket raised $600 million at a $15 billion valuation and is reportedly in talks to raise an additional $400 million.

 

Binance, the world's largest cryptocurrency exchange by trading volume, has re-entered the Philippines after being designated an unregistered exchange and blocked by the Philippine Securities and Exchange Commission (SEC) in 2024.

 

Binance's return to the Philippines was made possible through a regulatory sandbox partnership with BlockShoals Technologies Inc., a Philippine-registered fintech company.

 

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Since this is not a fully licensed entry, Binance, under the supervision of the Philippine SEC, will have its infrastructure integrated with BlockShoals for the next 90 days. This will allow the Philippine SEC to monitor Binance's transaction flows, user protection measures, and anti-money laundering controls in a controlled environment before deciding whether to grant broader operating approval.

 

If Binance meets all compliance requirements after the 90-day testing period, the Philippine SEC may grant the exchange a full operating license. As a result, Filipino retail traders may not see Binance-branded services until at least early October, following the completion of the 90-day testing period.

 

Binance's sandbox partnership with BlockShoals comes about two years after the Philippine Securities and Exchange Commission, through the National Telecommunications Commission, blocked access to Binance's website and related pages. According to the regulator, Binance was operating without the required license and registration and was offering unregistered securities, which it said posed risks to investors.

 

Crypto adoption in the Philippines appears to remain strong. According to a Chainalysis report, the country ranked ninth in the Global Crypto Adoption Index, down from second place in 2022. The Philippine crypto market is currently valued at about $55 billion and is projected to reach $120 billion by 2034.

 

Binance's Other Sandbox Partnerships

This is not the first time Binance has entered a country through a sandbox partnership. In 2022, Binance formed a joint venture with Gulf Innova, a major subsidiary of Thailand's Gulf Energy Development. The partnership resulted in Gulf Innova's transition into Gulf Binance, enabling Binance to secure a full digital asset exchange and broker license from Thailand's SEC.

 

Binance has also pursued similar sandbox partnerships to enter Dubai and Kazakhstan. It also acquired Sakura Exchange BitCoin, a local Japanese crypto exchange, enabling it to operate in the country without regulatory setbacks.

Robinhood Chain, the mainnet blockchain of Robinhood Markets Inc., is now live after about 5 months of running its public testnet.

 

The mainnet chain, unveiled at the recent "Robinhood Presents: The World is Flat" event at the Old Royal Naval College in London, is built on the Arbitrum blockchain and aims to bridge the gap between traditional and decentralized finance.

 

“Decentralized finance unlocks possibilities beyond what traditional finance can offer, but historically, it has required technical expertise to navigate,” said Johann Kerbrat, SVP and General Manager of Crypto and International at Robinhood.

 

“We’re bringing the best of traditional finance and DeFi together, and in doing so, expanding financial ownership to every corner of the globe.”

 

According to the Robinhood team, Uniswap will serve as the chain's primary public liquidity protocol and will deploy a dedicated Automated Market Maker (AMM), while decentralized trading firm Pleiades will also deploy a proprietary AMM and serve as the chain's primary proprietary trading venue. The chain also features fast block times and a permissionless environment where builders can innovate seamlessly.

 

Other Product Launches 

 

The Robinhood team also launched new stock tokens that allow eligible users in more than 120 countries to trade directly 24/7 on the Robinhood Chain. Users will be able to trade spot tokens through decentralized exchanges such as Uniswap, Lighter, and 1Inch. The first set of these stock tokens, known as Classic Stock Tokens, will be available to European users through the Robinhood app.

 

Robinhood Earn, a product that allows users to lend their Global Dollar (USDG) stablecoin at an estimated annual percentage yield (APY) of 7%, was also rolled out. This lending infrastructure is powered by Morpho Protocol.

 

The launch of the Robinhood Chain comes shortly after Robinhood trimmed its workforce by 10% last month, a move aimed at achieving greater impact with a leaner team. Following its recent entry into Canada and Singapore, Robinhood has also revealed plans to enter the UK market. Robinhood currently serves 28 million users across 38 countries and three continents.

 

 

Robinhood Markets, Inc. will cut its staff by 10 percent as the company seeks to operate more efficiently and achieve greater impact from a lean workforce.

 

In a note shared by Robinhood’s communications team on behalf of chief executive officer Vlad Tenev, the company said it can no longer continue operating as a heavily layered organization.

 

“We must be a lean, hyper-focused team where every single individual is empowered to make a massive impact,” Tenev said in the note. “Our execution is strong today, but our ambitions require us to continuously raise our own bar. To achieve that, today we are flattening our organizational structure and reducing our overall team size by 10 percent of headcount.”

 

About 290 employees are expected to be affected. According to a Form 8-K filing with the United States Securities and Exchange Commission, the restructuring will cost 20 million dollars in cash severance benefits and 8 million dollars in equity-based compensation.

 

Robinhood’s layoff comes as the cryptocurrency industry continues to see workforce reductions. Last month, Kraken reduced its staff by about 5 percent, or roughly 150 employees. Coinbase cut its global workforce by about 14 percent, resulting in the loss of approximately 700 jobs. Some reports have linked recent restructuring efforts in the sector to a broader shift toward AI initiatives, though companies have also cited cost-control and efficiency goals.

 

Several other cryptocurrency-focused companies have also carried out layoffs, including Crypto.com, Dune, Algorand, and Block. According to an industry tracking report, more than 5,000 jobs have been cut across dozens of companies.

 

Despite the reduction, Robinhood’s chief executive said the company will continue to hire strategically and invest in top-tier talent. Robinhood recently acquired WonderFi, expanding its presence in the Canadian market. The company’s growth metrics remain strong, reporting net revenue of $1.07 billion in the first quarter, up approximately 15% from $927 million in the same period a year earlier.

 

 

Bitbank, one of Japan’s major cryptocurrency exchanges, has warned its users against using their Bitbank accounts for Polymarket and other prediction market activities.

 

 

According to a press release from the exchange, the warning comes in compliance with Japan’s strict laws against prediction market activities, which it broadly categorizes as gambling.

 

“We would like to inform you of a cautionary note regarding the connection to and use of prediction market services, including Polymarket,” Bitbank wrote in a blog post.

 

“While these prediction market services may be operated by overseas companies, accessing them from within Japan and using them for the purpose of financial gain may constitute gambling or similar activities.”

 

As part of its enforcement measures, Bitbank said it may suspend accounts found to be involved in deposits or withdrawals related to prediction market services. If an account is suspended, the affected user will lose access to the account, including cryptocurrency deposits and withdrawals, buying and selling of crypto assets, and withdrawals in Japanese yen.

 

Bitbank’s move to restrict accounts involved in prediction markets reflects the country’s strong stance against gambling overall. The country’s penal code criminalizes all forms of wagering or gambling activities, with prison sentences of up to five years for offenders.

 

Thus, while the country or any of its financial regulators have not outright banned prediction markets, crypto entities like Bitbank, for compliance purposes, are proactively distancing themselves from prediction markets.

 

Bitbank’s restriction on prediction market activities comes shortly after the United States Commodity Futures Trading Commission released a framework that will guide the use of prediction market platforms. According to the framework, betting contracts related to terrorism, assassinations, and war are banned. Although sports event contracts can still be offered, they will be subject to thorough scrutiny to prevent manipulation.

 

Despite the regulatory bans and challenges facing the prediction market sector, prediction market companies continue to thrive and scale. Recently, Kalshi announced it had raised $1 billion at a valuation of $22 billion, while Polymarket said it was in talks with investors to raise $400 million at a valuation of $15 billion.

 

 

A federal appeals court, the U.S. Court of Appeals for the Second Circuit in Manhattan, has upheld the conviction of Sam Bankman-Fried, the founder of the now-defunct FTX cryptocurrency exchange.

 

Following his conviction on March 28, 2024, Bankman-Fried’s lawyers filed a direct appeal with the U.S. Court of Appeals on April 11, 2024. His legal team argued that the trial was unfair, citing alleged judicial bias by Judge Lewis Kaplan, disputed jury instructions, and other procedural issues.

 

Through the appeal filing, Bankman-Fried’s legal team sought to overturn the conviction and secure a new trial before a different judge. However, the appeals court rejected the request, stating that there was “robust” evidence supporting the conviction.

 

“The overwhelming evidence presented at trial proved that Bankman-Fried knowingly and intentionally committed large-scale fraud against FTX’s customers,” Judge Barrington Parker wrote.

 

“While he was publicly reassuring customers, investors, and regulators that FTX customer funds were safe, he was simultaneously using FTX as his own personal piggy bank, spending customer funds on real estate, political contributions, and investments.”

 

Following the decision, Bankman-Fried’s legal team has the option of requesting an en banc review, in which all active judges on the Second Circuit would rehear the case. This request must typically be filed within 14 days, although the exact deadline depends on the court’s rules. If the review is denied, his lawyers could petition the U.S. Supreme Court to consider the case.

 

The appeals court’s rejection of Bankman-Fried’s retrial bid comes shortly after he reportedly filed for a presidential pardon from former President Donald Trump. The request does not seek to shorten or reduce his sentence, but instead aims to restore certain civil rights associated with a felony conviction.

 

Before the appeals court ruling, Bankman-Fried had filed a request for a new trial in February, arguing that there was newly discovered evidence. However, the request was denied by Judge Lewis Kaplan on April 28, 2026.

 

The former founder of what was once the world’s largest cryptocurrency exchange is currently serving a 25-year sentence after being convicted on multiple charges, including conspiracy to commit wire fraud, securities fraud, commodities fraud, and money laundering.

 

 

Kraken has been named the official cryptocurrency exchange supporter of the FIFA 2026 World Cup, which is scheduled to begin on June 11.

 

In a blog post announcing the partnership, Kraken said the collaboration will allow it to leverage its digital technology to enhance the fan experience for the global audience expected to tune in to this year’s World Cup tournament, which will be hosted across three countries: Canada, Mexico, and the United States. The tournament is expected to reach more than 6 billion people worldwide.

 

 

“Innovation has always played a central role in how FIFA evolves and enhances the fan experience. As we prepare to welcome the world to the biggest FIFA World Cup in history, we are delighted to partner with Kraken, an organization that shares our commitment to innovation and technology,” said Romy Gai, FIFA Chief Business Officer.

 

“Together, we look forward to exploring new ways to connect supporters with the tournament, creating memorable experiences that bring fans closer to the game and the moments that make the FIFA World Cup so special.”

 

With Kraken becoming the official cryptocurrency exchange supporter of this year’s World Cup, the company said it will deliver a series of fan-focused product experiences across North America and Europe. Kraken said the initiatives are designed to introduce new audiences to digital assets while strengthening the connection between football engagement and financial participation.

 

About Kraken 

Kraken is one of the world’s oldest global cryptocurrency exchanges. Launched in 2011, the exchange operates as a full-service digital asset platform offering spot trading, margin trading, futures, staking, over-the-counter services, tokenized equities, and stocks. Its mission is to accelerate the global adoption of crypto by enabling broader access to financial services and promoting financial inclusion.

 

Since its launch, Kraken has grown to serve millions of users worldwide. Its services are currently available in more than 190 countries and serve over 13 million users globally. To provide non-U.S. users with access to U.S.-listed stocks and IPO opportunities, Kraken launched xChange, a platform that offers tokenized representations of real U.S. stocks and exchange-traded funds to eligible non-U.S. users.

 

 

Sam Bankman-Fried, CEO of the now-defunct FTX cryptocurrency exchange, has formally submitted an application to the U.S. Department of Justice's Office of the Pardon Attorney, seeking a presidential pardon from U.S. President Donald Trump.

 

The application, which falls under the category of "Pardon after completion of sentence," does not request that Trump shorten or end Bankman-Fried's 25-year prison sentence. Instead, it seeks a presidential pardon that would formally forgive his federal convictions for fraud and related charges, restore certain civil rights, and remove the legal stigma associated with a felony conviction.

 

Speaking in a phone interview with Fox Business correspondent Susan Li, Bankman-Fried acknowledged that he would welcome a presidential pardon from Trump. However, he declined to comment on whether his parents or anyone close to him had contacted the White House on his behalf.

 

With the application now filed, the Office of the Pardon Attorney will conduct a thorough review of the petition and verify the information provided. Since the application was submitted just two years into his 25-year sentence, the process could take months or even years to reach a decision. If approved by the reviewing authorities, the recommendation will be forwarded to the president, who may choose to grant, deny, or take no action on the request.

 

The pardon application comes just months after Bankman-Fried sought a retrial in March, requesting the introduction of new witnesses. The move was later opposed by some U.S. prosecutors.

 

Bankman-Fried is currently serving a 25-year prison sentence for his role in the collapse of the FTX cryptocurrency exchange. He was convicted of fraud after prosecutors accused him of secretly diverting customer funds to purchase luxury real estate, make large political donations, and engage in other forms of financial misconduct.

 

At trial, Bankman-Fried was found guilty of wire fraud, securities fraud, commodities fraud, and money laundering. He was subsequently sentenced to 25 years in prison. Despite his conviction, he continues to argue that the prosecution was unjust.

 

"I didn't steal user funds either," Bankman-Fried said during his phone interview with Susan Li of Fox Business. "Customers have been repaid now 170% or so on their deposits. I can only tell you what I think and, you know, ultimately, customers have been repaid again nearly twice what they had on the platform, and it's a great disservice to them that it has taken three years."

 

 

MetaMask, one of the major cryptocurrency wallets, has rolled out MetaMask Agent Wallet, a non-custodial wallet that enables AI agents to autonomously execute DeFi activities such as swaps, perpetuals trading, prediction markets, and liquidity provisioning.

 

 

According to the MetaMask team, the new wallet is designed for crypto native traders, automators, and builders who already understand on-chain workflows and want these tasks executed by agents. Because the wallet supports multiple agentic platforms, users are not required to adopt a single framework. Compatible platforms include OpenClaw, OpenAI Codex, Claude Code, Nous Research Hermes Agent, and Cursor.

 

"The next great expansion of the on-chain economy will not be driven by humans alone. Machine intelligences will increasingly transact, coordinate, and verify one another on crypto rails because crypto protocols are uniquely well designed for autonomous actors," Consensys co-founder Joseph Lubin said in a statement.

 

"Agents will manage real capital and make real financial decisions, and the infrastructure underneath has to be worthy of that. MetaMask Agent Wallet is the first agent wallet built with comprehensive full-stack security for that world, one where agents act with autonomy, security is mandatory, and the person behind the agent stays in control."

 

To maintain a high level of wallet security, MetaMask has implemented several security mechanisms, including a Trusted Execution Environment (TEE) that protects users' private keys.

 

The MetaMask team has also implemented Transaction Simulation, which allows users to preview the outcome of a transaction before it is sent on chain; Transaction Shield Threat Scanning, powered by Blockaid, which detects potential threats before execution; Smart Transactions MEV Protection, which scans transactions for potential Maximal Extractable Value (MEV) exploitation; and Transaction Protection Coverage, which provides coverage of up to $10,000 per month. These mechanisms are designed to ensure that AI agents operate within defined security constraints while maintaining a degree of autonomy.

 

The MetaMask Agent Wallet will initially be available to a limited group of traders and developers through an early access program. The program will provide access to two operating modes: Guard Mode, the default with stricter controls, and Beast Mode, with fewer restrictions.

 

The launch of the new self-custodial wallet comes shortly after MetaMask co-founder Dan Finlay announced his departure from the company, citing a desire to spend more time with his family. Consensys, MetaMask's parent company, also recently partnered with SG FORGE, a subsidiary of French banking group Société Générale, to integrate the USDCV stablecoin into the MetaMask wallet.