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HEX Sellers Liquidate $160M After Richard Schueler Arrest Reports

Hex’s HEX token plunged nearly 30% over the past 24 hours after Turkish media reported that founder Richard Schueler, known as Richard Heart, was detained in Istanbul. The selloff accelerated late Wednesday, with the token trading around $0.0006 by 11:28 am UTC on Thursday, according to CoinMarketCap, wiping out roughly $160 million in market value. News coverage cited an Istanbul operation in which authorities reportedly seized multiple devices, hardware wallets, jewelry and handguns. The report also arrives against a backdrop of long-running legal and enforcement actions involving Schueler, including prior international alert notices and US regulatory proceedings. Key takeaways HEX fell about 30% in 24 hours to roughly $0.0006 as of 11:28 am UTC Thursday, per CoinMarketCap. Ihlas Haber Ajansı (IHA) reported Schueler and his wife were detained in Istanbul. The detention report follows years of enforcement pressure, including Interpol’s Red Notice and a US SEC lawsuit that was di...
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Mastercard Adds Stablecoin Balances to Card Payments Infrastructure

Mastercard has introduced a new platform aimed at making stablecoin payments easier for businesses and financial institutions to deploy through familiar banking and card rails. Announced Thursday, the “Global Money Platform” is positioned as Mastercard’s first major integration with BVNK, the stablecoin infrastructure provider Mastercard acquired in August. Instead of requiring companies to build their own stablecoin custody, conversion, and payment routing systems, Mastercard says the platform enables businesses to hold and convert both fiat currencies and stablecoins, issue stablecoin-linked cards, and pay recipients’ local bank accounts using stablecoin balances. Key takeaways Mastercard’s Global Money Platform is built to let businesses use fiat and stablecoin balances across card payments and local bank transfers. The launch follows Mastercard’s August acquisition of BVNK and represents its first major integration with BVNK’s stablecoin infrastructure. Payments are routed th...
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Ex-Trump Adviser Bo Hines’ Firm Profited After GENIUS Stablecoin Bill

A former White House crypto adviser who later joined Tether is at the center of fresh scrutiny after a Wall Street Journal report alleged he held a significant stake in an investment vehicle that benefited from the passage of the United States’ stablecoin framework. According to the Wednesday report from The Wall Street Journal , Bo Hines—previously a Trump administration adviser and later a Tether “strategic adviser”—kept a roughly one-third stake in the investment company he co-founded, Nxum. The report also claims that while Hines was still serving in government, Nxum received $6.3 million under a deal tied to Tether’s USDt (USDT) stablecoin, with the first payment occurring before his exit from office. Key takeaways The Wall Street Journal alleges Bo Hines maintained a substantial stake in Nxum while he was pushing stablecoin legislation in the White House. The report says Nxum received $6.3 million from a Tether-linked arrangement, with the first payment reportedly made while ...
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CoinShares: Thailand Crypto ETF Rules Likely Won’t Spark Fast Start

Thailand is preparing to open a new, regulated route for retail investors to gain exposure to Bitcoin and Ether through locally listed crypto exchange-traded funds (ETFs). The initiative begins Friday, when Thailand’s finalized ETF rules for Bitcoin and Ether take effect and allow approved products to list on the Stock Exchange of Thailand. While the regulatory framework is a significant milestone for the country’s digital-asset market, CoinShares research head James Butterfill said early demand may be muted. He expects “modest inflows initially,” adding that “tens of millions of US dollars” across the first products could be a more realistic starting point than major billions. Key takeaways Thailand’s Bitcoin and Ether ETF rules take effect Friday, enabling local listing on the Stock Exchange of Thailand. The framework is designed to let retail Thai investors access locally listed crypto ETFs, while limiting overseas crypto ETF exposure via domestic brokers. Trading cannot start...
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Ex-Trump Crypto Adviser Earned Fees After Stablecoin Bill Vote: WSJ

A new report from The Wall Street Journal alleges that Bo Hines—who previously served as a crypto adviser in the Trump White House and later joined stablecoin issuer Tether—held an investment interest in a company that benefited from the passage of the US stablecoin law he helped push through. According to the WSJ, while Hines was still in government, he maintained a one-third stake in Nxum, an investment firm he co-founded. The outlet reports that Nxum received $6.3 million through a deal with Tether, tied to USDt (USDT), with at least part of the payment flowing before Hines left public service. The story adds fresh fuel to long-running concerns about a “revolving door” between US policymakers and the crypto industry. Key takeaways The WSJ reports that Bo Hines kept a one-third stake in Nxum while lobbying for the GENIUS stablecoin bill. Nxum allegedly benefited from a $6.3 million deal involving Tether while Hines was still serving in the White House. The GENIUS Act passed...
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Mastercard Integrates Stablecoin Balances into Bank Cards

Mastercard has unveiled a new stablecoin-focused payments platform aimed at making it easier for businesses and financial institutions to offer stablecoin services without having to build their own payment and conversion infrastructure from scratch. Announced this week, the platform—called Global Money Platform —is Mastercard’s first major integration with BVNK , the stablecoin infrastructure company Mastercard acquired in August. The move signals that stablecoin payments are moving beyond pilots and into “pluggable” infrastructure that traditional finance providers can deploy under their own branding. Key takeaways Mastercard’s new Global Money Platform is designed to help businesses hold and convert fiat and stablecoins alongside traditional banking and card services. The service links stablecoin balances to Mastercard’s ecosystem, including payments routed through its Move network and spend via its merchant card network. Mastercard says the platform can enable stablecoin-lin...
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Bitcoin Falls Below $80K as US PPI Jumps to a 4-Year High

Bitcoin slipped below $80,000 on Thursday as US inflation data landed far hotter than expected, briefly shaking risk sentiment across markets. The move came after September Producer Price Index (PPI) figures overshot forecasts, adding to a volatile backdrop that has already been shaped by a stronger-than-expected US Consumer Price Index (CPI) release. Despite the intraday dip—according to TradingView data, BTC/USD fell as much as 1.8% and tagged lows not seen since Sept. 18—price later recovered to around $81,000. The key question for traders now is whether the pullback can be contained near widely watched trend levels around the mid-to-high $70,000s. Key takeaways September PPI rose 6.3% year over year versus 5.3% expected, the largest monthly increase since March 2022, according to the US Bureau of Labor Statistics. Core PPI climbed to 5% year over year against expectations of 4.4%, reinforcing the inflation surprise that pressured crypto and broader risk assets. Bitcoin briefl...
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