World, Sam Altman’s biometric identity-verification project, has updated the latest version of its app to include encrypted chat service with crypto payment integration.

The upgrade has enabled Venmo-like send, deposit and withdraw cryptocurrency within the World Wallet and virtual accounts.

The new App supports USDC, EURC and wrapped Bitcoin, Ethereum, and additionally supports 100+ cryptocurrency tokens, the Thursday announcement read.

World ‘Super App’: End-to-End Encryption, Crypto Integration

World formally launched its app in 2023 and said at the time that the mission is to provide tools to verify human identity in an era of AI manipulation.

The app upgrade was revealed on Thursday at World’s headquarters in San Francisco, where Altman and World co-founder and CEO Alex Blania briefly spoke about the innovations. Developers termed the new upgrade a “super app” before the product team explained its features.

“It’s really hard to identify unique people while preserving privacy,” said Altman, a Mezha report noted.

To ensure conversation privacy, the chat messages display blue bubbles for “verified humans” and gray bubbles for those who haven’t verified. Further, profile photos are checked against the Orb image stored on the user’s device.

World App Updates With Virtual Bank Accounts and Expanded Crypto Features

In May, World launched its iris-scanning project to US customers. The process involves users scanning their face and iris in about 30 seconds, creating a unique “IrisCode” to verify their identity.

Besides, the World already functions as a digital wallet; however, the new version introduces virtual bank accounts.

“Users can receive their salary directly in the World App, make deposits from bank accounts, after which funds can be converted into cryptocurrency,” the report added.

Besides swap and trade across more than 100 supported assets, World Chain native tokens and a RWA assets like tokenized gold are also available, the company said in the statement.

The new version of the app underscores the firm’s intention to expand partnerships and build a more integrated ecosystem focused on the ease of crypto usage.

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Terraform Labs co-founder Do Kwon has received a 15-year prison sentence stemming from his involvement in the crypto fraud tied to the collapse of TerraUSD, which resulted in a $40 billion loss in 2022.

The South Korean national pleaded guilty in August to conspiracy and wire fraud charges at Terraform Labs. US District Judge Paul A. Engelmayer handed down the sentence on Thursday at a hearing in Manhattan.

Judge Dismisses 12-Year Jail Plea for Kwon, Calls it ‘Unreasonable’

Federal prosecutors already urged the court to impose the full 12 years permitted under Kwon’s plea agreement. Meanwhile, Kwon’s lawyers requested a 5-year sentence, so he can return to South Korea to face criminal charges.

Per Inner City Press, which live-tweeted the proceedings of the lengthy hearing, Judge Engelmayer called the 12-year prison recommendation by US prosecutors “unreasonable.” He further said that a 5-year sentence “would be so implausible.”

“15 years is the least I can impose,” the Judge said finally. “It is the judgment of the court that you are to serve a sentence of 15 years, with credit for time serviced in the US.”

The Staggering $40B Crypto Debacle: Here’s What Happened

Judge Engelmayer called the collapse an “epic” fraud. “This was a fraud on an epic, generational scale,” he said, per a BBC report. “In the history of federal prosecutions, there are few frauds that have caused as much harm as you have.”

From 2018 to 2022, Kwon orchestrated schemes to defraud purchasers of cryptos created and issued by Terraform. The firm publicly announced the launch of its 1:1 USD-pegged stablecoin, TerraUSD (UST), and Luna coins.

TerraUSD slipped below its $1 peg in May 2021, and Kwon made false statements about the stablecoin’s peg restoration mechanisms. He also concealed Jump Trading’s role in supporting the stablecoin during a 2021 depeg event.

TerraUSD, which was designed to maintain a $1 peg, unraveled in May 2022, wiping out tens of billions in value, sparking a crypto sector-wide cascade of failures.

“I made false and misleading statements about why it regained its peg by failing to disclose a trading firm’s role in restoring that peg,” Kwon admitted in August. “What I did was wrong.”

The collapse led to criminal charges in the U.S. and South Korea, with both nations seeking Kwon’s extradition. In March 2023, Kwon was arrested in Montenegro for travelling with forged documents and was later extradited to the United States in December.

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US federal prosecutors have charged a 26-year-old Canadian citizen in connection with a $42 million fraud scheme, claiming to raise funds for investments in crypto, TradFi markets.

Nathan Gauvin lured individuals on the social media platform Discord, directing investors to put their money into Gray Digital Capital Management Inc. and its Gray Fund products.

Multi-Million Dollar Scheme Targets Investors on Discord

According to the indictment announced by the U.S. District Court for the Eastern District of New York, Gauvin gave false information to a fintech firm to secure $800,000 in credit. He then used the funds to pay for personal expenses, including for a private club in London.

“In total, Gauvin fraudulently raised more than $42 million from Gray Digital investors and obtained more than $800,000 in credit from lenders,” an SEC announcement read.

Per the prosecutors, the defendant used most of the money to pay previous investors, buy luxury goods and pay his credit card bills.

“Gauvin exploited the trust of his online followers to perpetrate a brazen fraud,” said Jaime Marinaro, Associate Director of the SEC’s Fort Worth Regional Office.

Authorities arrested Gauvin in England on Wednesday on a provisional arrest warrant. The US SEC has also filed for securities fraud charges. The regulator noted that the accused continued to submit false documents to the SEC during regulatory investigations.

Further, the Federal Bureau of Investigation separately released a statement, seeking to identify potential victims of the fraud. “Victims may be eligible for certain services, restitution, and rights under federal and/or state law,” the FBI said.

Crypto Fraud That Ran For Over 2 Years

The indictment said that from May 2022 to October 2024, Gauvin and others enticed investors to put money into Gray Digital and Gray Fund. Among the companies, the flagship fund purported to offer investors a strategy “that blends TradFi (traditional finance) and DeFi (decentralized finance).”

The defendant allegedly misrepresented Gray Digital’s performance by providing falsified documents to investors.

He also claimed that the Gray Fund generated double-digit monthly returns and held over $78 million in assets. However, in reality, the fund had a monthly compounded return of approximately 1.4% and assets were far lower than claimed.

Later, there was a second scheme that started in May 2024, which touted a “seed stock” offering in Gray Digital at $30,000 per share. At the time, Gauvin said the company had a $60 million valuation and more than $12 million in annual revenue.

The SEC has sought disgorgement of ill-gotten gains with prejudgment interest, civil penalties, and conduct-based injunctions against Nathan Gauvin.

“Investors should always verify the credentials of anyone offering investment opportunities, especially when those opportunities are promoted through social media or online communities,” SEC’s Marinaro warned.

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Billionaire Winklevoss twins’ Gemini Space Station received a key nod from the US Commodity Futures Trading Commission (CFTC) to launch its betting platform ‘Gemini Titan’ to US customers.

The crypto exchange team announced on Wednesday that the Designated Contract Market (DCM) license will allow Gemini to begin offering “simple yes or no questions” event contracts.

The approval comes 5 years after the exchange applied for a DCM license in 2020.

Dubbed ‘Gemini Titan,’ the prediction market aims to expand its derivatives offering to include crypto futures, options, and perpetual contracts.

“Gemini Titan looks forward to exploring bringing these innovative and highly liquid contracts to America,” the announcement read.

Gemini President Cameron Winklevoss praised CFTC Chair Caroline D. Pham for understanding the importance of the growing prediction markets.

“Unlike her predecessor, Acting Chairman Pham has positioned the CFTC as a pro-business, pro-innovation regulator that will allow America to lead in these new and exciting markets.”

Gemini’s debut comes after it closed its initial public offering (IPO) in September, pulling in a massive $425 million.

Big Players Enter Prediction Market Space – Integration Meets Sustainability

The prediction markets arena has gained major traction ever since the US federal court dismissed a CFTC prohibition on election betting last year.

The space has been experiencing rapid growth, following the announcement of record trading volumes by dominant players Kalshi and Polymarket.

However, the challenge is on sustainable integration, while balancing innovation with responsibility, James Newman, Chief Corporate Affairs Officer at sports blockchain Chiliz, told Cryptonews.

“Sustainable integration means creating an ecosystem that fosters deeper connections, where fans are not just spectators but are empowered as stakeholders. This is where the future of all fan engagement lies,” Newman added.

Polymarket Comeback to US Aligns With Growing Demand

Early this month, Polymarket announced its comeback in the US after nearly three years, following regulatory clearance from the CFTC.

The US agency fined Polymarket $1.4 million for operating an unregistered derivatives exchange in 2022, and blocking its US operations. However, US users continued accessing the site through VPNs, even after its official exit.

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The Tajikistan parliament has approved revisions to the Criminal Code, introducing Article 253(2), which imposes penalties on miners minting crypto using stolen electricity.

The article stipulates a fine of $1,650 to $8,250 for violators or imprisonment from two to five years. However, for the illegal use of power for crypto mining on an “especially large scale,” the prison term is from five to eight years, per a local media report.

On December 3, members of the Tajik parliament reviewed and adopted the amendments to the Criminal Code, presented by Attorney General Khabibullo Vokhidzoda.

Counsel Vokhidzoda also warned that electricity theft by crypto miners in several cities has already contributed to regional power outages.

“The illegal circulation of virtual assets facilitates a number of crimes, such as the theft of electricity, material damage to the state, money laundering, and other offences,” Vokhidzoda said.

He previously flagged damages from illegal mining operations, causing 32 million somoni (nearly $3.52 million), which led to four to five criminal cases, according to The Diplomat.

Tajikistan Reports Winter Power Shortages

The Central Asian nation, which sources nearly 95% of its electricity from hydropower, is grappling with winter power pressures with low reservoir and river flows.

Besides, following China’s crypto mining ban in 2021, many operators, including those from Russia, moved to Central Asia, attracted by low energy costs and relaxed regulation.

As of August 2025, Tajikistan has been pursuing 190 criminal cases related to the illegal use of electricity. Further, the Diplomat report added that these cases involved 3,988 individuals who allegedly caused damages worth $4.26 million.

MP Shukhrat Ganizoda emphasized that miners connect thousands of ASIC crypto mining devices to Tajikistan’s power grid.

“Those committing such crimes seek to use electricity without meters or through other illegal means to produce such assets,” he explained.

Criminal Code Amendments Prevent Crypto Tax Violations

According to Shukhrat Ganizoda, the new legislation aims to prevent tax evasion schemes and unauthorized electronic encryption.

Additionally, the revisions will also deter attempts to circumvent commodity tracking systems. The bill will be effective after President Emomali Rahmon signs it into law.

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Vivek Ramaswamy’s Strive Asset Management has announced a $500 million preferred stock offering, with proceeds earmarked for Bitcoin acquisition.

Strive already holds 7,525 BTC, per BitcoinTreasuries data, worth $695.93 million, and stands 14^th among top corporate Bitcoin holders.

With the latest stock sales announcement, Strive intends to use the net proceeds “for general corporate purposes,” including “the acquisition of Bitcoin and Bitcoin-related products and for working capital.”

Further, the asset manager also plans to purchase unspecified “income-generating assets,” fund acquisitions of businesses and technologies.

Strive’s Pivot to BTC Treasury Strategy

Strive first announced its intention to purchase Bitcoin in May with a merger. It later revealed plans to acquire 75,000 BTC, then valued at over $8 billion, from claims related to the defunct Mt. Gox exchange bankruptcy.

Strive’s recent Bitcoin buying spree reflects Michael Saylor’s playbook, representing another public company focused on increasing Bitcoin per share.

The company has also urged index provider MSCI to rethink its plan to exclude digital asset treasury (DAT) firms from its global indexes.

Strive submitted a seven-page letter to the MSCI chairman, arguing that the proposal risks shutting passive investors out of key growth markets.

Strive Stocks Up 3.57% – Recent Move Triggers Investor Enthusiasm

The company’s stock [NASDAQ: ASST] is trending up by 3.57% on Tuesday, surging up to $1.12 followed by an apparent Downtrend to $1.02.

Per the company’s stock data, over the past 52 weeks, it has traded between a high of $13.42 and a low of $0.34. This narrative hints at an opportunistic market, where swings could suggest potential buyer opportunities.

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The US spot Bitcoin exchange-traded funds (ETFs) saw a net outflow of $60.48 million on Monday, despite BlackRock’s IBIT fund contributing to a single-day inflow of $28.76 million.

Per SoSoValue data, Grayscale’s GBTC saw the maximum outflows of $44.03 million, followed by Fidelity’s FBTC fund, which recorded a $39.44 million in outflows.

Meanwhile, the spot Ethereum ETFs logged in a net inflow of $35.5 million yesterday, led by BackRock’s ETHA, which saw $23.7 million inflows.

Altcoin ETFs ‘Boom’ – XRP Leads With $935M Inflow Since Debut

Ripple XRP spot ETFs have attracted more than $900 million in cumulative institutional capital since their launch last month. The move signals capital rotation amid Bitcoin’s turbulence and arbitrage unwind.

Particularly, XRP has the most significant altcoin ETF debut to date, with $38.04 million in a single day inflow from four funds on Monday.

Besides, spot Solana ETFs posted $1.18M net inflows in a single day, solely from Fidelity’s FSOL fund. The altcoin witnessed a cumulative net inflow of $640.06 million, since its debut on October 28.

Per CoinMarketCap data, XRP showed a significant surge at the start of December, reaching a peak of $2.20. However, the altcoin has dropped 1.54% to $2.05 over the past 24 hours, signalling bearish momentum. XRP is trading at $2.06 at the time of writing.

Meanwhile, Solana has risen to nearly 5% in the past week, trading at $133.16 at press time.

ETF Trajectory for Next Year

Bitwise Asset Management executive Katherine Dowling told DL News that the crypto ETF sector will continue to boom.

“It is a good starter kit for many investors to gain exposure,” said Dowling, adding that altcoin funds such as Solana and XRP “have promising fundamentals,” pushing the prices to go further.

Additionally, Bitfinex analysts view this as a healthy, tactical rebalancing. They told Cryptonews, “the spot ETF channel remains intact.”

Speaking about Bitcoin’s long-term outlook, they said that the structural thesis remains firm.

“As more large allocators use ETF wrappers as entry points, Bitcoin’s path towards a regulated store-of-value role continues, meaning that future inflows can become deeper and more stable.”

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Jonathan Gould, the head of the US Office of the Comptroller of the Currency (OCC), has pushed back on banker complaints about allowing digital asset firms seeking to establish national trust bank charters.

Speaking at an industry event in Washington, he said that crypto companies seeking federal bank charters should be evaluated no differently than traditional financial institutions.

Limiting digital asset activities would “undermine the dynamic and evolving nature of the federal banking system,” he said.

Further, he highlighted the OCC’s long history of chartering national trust banks and their activities. The OCC received about 14 charter applications since the start of the year, including digital asset firms.

“Although the proposed activities of some new charter applicants, specifically those in the digital or fintech spaces, could be viewed as new activities for a national trust bank, custody and safekeeping services have been happening electronically for decades,” the OCC chief said. “There is simply no justification for considering digital assets differently.”

OCC Plans to Supervise Crypto Firms in Banking System – Here’s How

Gould also dismissed concerns from certain existing banks regarding OCC’s lack of supervisory capacity to oversee new applicants’ activities.

In remarks at the 2025 Blockchain Association Policy Summit, Gould noted that the agency is hearing daily from existing banks about their own initiatives for innovative products and services.

“The OCC has also had years of experience supervising a crypto-native national trust bank,” Gould added. “All of this reinforces my confidence in the OCC’s ability to effectively supervise new entrants as well as new activities of existing banks in a fair and even-handed manner.”

Besides, he emphasized the need to evolve the banking system from historical technologies like the telegraph to modern blockchain innovations.

Crypto Players Apply for National Trust Charter

In October, Coinbase filed an application with the US OCC for a National Trust Company Charter to expand financial services under clear regulations.

Despite the move, Coinbase was clear that it has no plans to become a traditional bank. If granted, the license would allow the crypto exchange giant to offer payments without depending on third-party banks.

Circle and Ripple have filed similar applications. For instance, Ripple intended to bring its dollar-backed stablecoin, RLUSD, under federal supervision by seeking a national banking license.

Additionally, Circle is looking to launch a federally regulated entity named First National Digital Currency Bank that would allow the company to offer crypto custody.

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Robinhood Markets has announced two key acquisitions, marking its official entry into the Indonesian market. The American financial services firm has entered into agreements to acquire Indonesian brokerage Buana Capital and OKJ-licensed crypto trader PT Pedagang Aset Kripto.

Announced Monday, the move expands Robinhood’s presence in one of the leading crypto markets in the Southeast Asian region.

“Indonesia represents a fast-growing market for trading, making it an exciting place to further Robinhood’s mission to democratize finance for all,” said Patrick Chan, Head of Asia at Robinhood.

Besides, Pieter Tanuri, the majority owner at both Buana Capital and PT Pedagang Aset Kripto, will serve as the strategic advisor to Robinhood.

However, the company did not disclose the deal price, which is expected to close in H1 2026, Reuters reported.

Robinhood’s Entry Underscores Indonesia’s Growing Retail Investors

Indonesia is home to about 17 million crypto traders and has more than 19 million capital market investors, per a recent report.

Besides, Chainalysis ranks Indonesia as a top global crypto market, placing it 7th in the world and 1st in Southeast Asia for crypto adoption in its 2025 index.

Further, the World Bank’s report on Global Findex 2025 noted that financial account ownership in Indonesia has increased from about 20% of adults in 2011 to roughly 60% by 2024.

With the expansion, Robinhood aims to bring its crypto trading services to Indonesia.

“We look forward to bringing Indonesians the same innovative services that have earned the trust of Robinhood customers globally,” Patrick Chan added.

The nation recently tightened its grip on crypto trading with a tax overhaul, hitting offshore platforms with a fivefold rate increase.

Additionally, crypto mining operations saw VAT rates double from 1.1% to 2.2%, along with an increase in taxes on domestic crypto sales and overseas exchange transactions separately.

The Indonesian government is also exploring Bitcoin as a reserve asset to benefit the country’s long-term financial stability.

The post Robinhood Sets Indonesia Footprint Through Crypto Trader, Brokerage Firms Acquisition appeared first on Cryptonews.

The Trump administration’s newly released 2025 National Security Strategy (NSS) failed to mention digital assets and blockchain tech. The 33-page-long document focuses instead on AI, biotech, and quantum computing.

Released Friday, the NSS is a key policy document framed by the White House. The policy papers lay out how the President views global threats and opportunities.

The pro-crypto administration has so far taken significant steps for the industry, including establishing the President’s Working Group on Digital Asset Markets, signing the GENIUS Act for stablecoin regulation and dropping several enforcement actions against crypto firms.

However, skipping any mention of Bitcoin in global economic policy discussions suggests that digital assets remain outside core security planning.

“We want to ensure that U.S. technology and U.S. standards — particularly in AI, biotech, and quantum computing — drive the world forward,” the national security strategy statement read.

Besides, Trump, who campaigned on becoming the “crypto president”, established a strategic national Bitcoin reserve. However, he later said that the stash will be funded with seized Bitcoin and not fresh BTC purchases.

Trump’s Commitment Over Crypto as National Strategic Issue

The President has previously made strong on-record commitments, framing digital assets as part of the US’ national strategic issue.

For instance, at the Bitcoin Conference in Nashville in 2024, Trump stressed that the future of crypto and the future of Bitcoin “will be made in the USA, not driven overseas.”

Further, in several policy rollouts, Trump positioned global competitors as potential beneficiaries if the US fails to adopt crypto-friendly policies.

The strategy has only mentioned “digital finance” in non-crypto terms, pointing to international economic systems and payment rails, failing to address decentralized networks.

National Security Strategy Shakes BTC Price, Token Slid Below $88K Over Weekend

The impact of the White House’s latest document was reflected in the price of Bitcoin, plunging below $88,000 over the weekend.

However, the world’s largest crypto has risen 1.96% in the past 24 hours to $91,429, per CoinMarketCap data. A close above $91,600 could target $93K, while failure risks a pullback to $89.5K support. Bitcoin is trading at $91,143 at press time.

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