Crypto News You May Have Missed | May 10, 2025

By: bitpinas|2025/05/10 09:15:06

From Meta’s renewed interest in entering crypto to CZ confirming a filing for presidential pardon, here is a roundup of the top crypto stories you may have missed. Meta to Re-Enter Web3 Through Stablecoins Meta, the parent company of social media apps Facebook, Instagram, and Threads, is quietly re-entering the crypto space three years after abandoning its high-profile Libra project, which was derailed by political backlash. The company is now exploring the use of stablecoins, which are cryptocurrencies pegged to traditional assets like the U.S. dollar, for cross-border payouts. It has hired Ginger Baker, a veteran in the financial technology industry with ties to the Stellar Development Foundation, as vice president of product to guide this initiative. Discussions with multiple crypto infrastructure firms are still in early stages, with Meta reportedly aiming to use stablecoins to reduce transaction costs, particularly for creators on platforms like Instagram. Move-to-Earn Game Sweat Unveils AI Agent Move-to-earn app Sweat introduced Mia, a new AI agent designed to assist users with both fitness and crypto-related tasks. Integrated into the Sweat Wallet app, Mia offers a conversational interface that helps users navigate features like earning and swapping $SWEAT across multiple supported blockchains. The AI assistant is powered by Near Protocol’s AI infrastructure and is part of Sweat’s broader push to simplify user engagement with web3 technologies. Sweat’s plans on having an AI agent were presented as early as the first quarter of the year. Short for “Movement in Action,” Mia is expected to replace clunky interfaces and tutorials with intuitive chat-based guidance tailored to individual activity and preferences. Users can ask questions in plain language and receive personalized support, including fitness suggestions and financial tips. USDT Launches on Kaia, Integrates on LINE Tether launched its dollar-pegged stablecoin, $USDT, natively on the Kaia network through a partnership with the major blockchain and LINE NEXT . The integration enables LINE’s 196 million monthly users to use $USDT for in-app payments, cross-border transfers, and decentralized finance activities directly within the LINE Messenger environment through the messaging app’s Mini Dapp Ecosystem and self-custodial wallets. In a statement, the firms involved noted that the collaboration positions Kaia and LINE NEXT as a key gateway for U.S. dollar-backed stablecoins in the region, streamlining fiat-to-digital asset access and accelerating stablecoin-powered web3 services. Celsius Founder Sentenced to 12 Years in Prison Alexander Mashinsky, the founder and former CEO of Celsius Network, was sentenced to 12 years in prison after being convicted of defrauding customers by falsely assuring them their crypto deposits were safe while secretly making risky and uncollateralized bets. U.S.District Judge John Koeltl described the crimes as “extremely serious,” noting that Mashinsky personally gained over $45 million while many customers lost everything. Prosecutors called Mashinsky a predator who “preyed on hope,” deceiving users from the outset to lure in their life savings under the promise of stability and high returns. Despite his emotional apology in court, the judge emphasized the lasting harm done to thousands of victims, some of whom never lived to see justice served. CZ Confirms He Applied for Presidential Pardon Crypto exchange giant Binance’s co-founder and former CEO, Changpeng Zhao, confirmed that he has formally applied for a presidential pardon from U.S. President Donald Trump. Speaking on the Farohk Radio podcast, Zhao said the decision to apply came after media reports in March 2025 suggested that he was pursuing a pardon and involved in business talks linked to the Trump family, which were the claims he previously denied. Zhao served a four-month prison sentence in 2024 after pleading guilty to failing to maintain an effective anti-money laundering program at Binance, resulting in a $50 million fine and a $4.3 billion settlement with U.S. authorities. This article is published on BitPinas: Crypto News You May Have Missed | May 10, 2025 What else is happening in Crypto Philippines and beyond?

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