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Societe Generale is set to launch a dollar-pegged stablecoin, marking a significant move in the financial sector. This initiative reflects the growing interest in digital currencies and their integration into traditional banking systems. The stablecoin aims to provide stability and efficiency in transactions.
A Dubai resident lost over Dh224,000 in a cryptocurrency scam after being lured by false promises of high returns. The victim transferred funds to various accounts, leading to the arrest of one account holder, who was found guilty of concealing illegally obtained money. A civil court ordered the scammer to repay Dh224,239 plus Dh20,000 for damages, while the criminal court sentenced him to one month in jail, a fine, and deportation.
Guggenheim has successfully tokenized commercial paper using the XRP Ledger, marking a significant advancement in the integration of blockchain technology within traditional finance. This move highlights the growing trend of digital asset adoption in financial markets.
AI-generated deepfakes have contributed to a staggering $4.6 billion increase in cryptocurrency scams, highlighting the growing threat posed by advanced technology in the digital finance sector. This surge underscores the urgent need for enhanced security measures and regulatory oversight to protect investors.
[SEC]
Coins.ph's Philippine Peso-backed stablecoin, PHPC, has successfully exited the BSP Regulatory Sandbox as of June 10, 2025, allowing for expanded operations in remittances and cross-border transactions. The stablecoin, fully backed by cash reserves, aims to reduce remittance costs and enhance financial inclusion in the Philippines, a major recipient of overseas remittances. This development aligns with regional trends in digital currency regulation, reflecting the Philippines' strategic focus on leveraging blockchain technology for economic needs.
Turnkey, a New York-based crypto wallet startup founded by former Coinbase employees, has secured $30 million in a Series B funding round led by Bain Capital Crypto, with participation from notable investors like Sequoia Capital and Galaxy Ventures. The funding will enhance Turnkey’s modular infrastructure and support open-source initiatives, reflecting a shift in the crypto market towards essential infrastructure development that facilitates mainstream applications. As traditional finance increasingly integrates crypto capabilities, Turnkey positions itself as a bridge, addressing the challenges faced by crypto startups in accessing banking services while aiming to simplify user experiences through its wallet solutions.
Iurii Gugnin, a 38-year-old Russian national, has been charged with a $500 million money laundering scheme involving cryptocurrency firms he founded. Allegedly processing over $530 million in payments, he used stablecoin tether to obscure fund origins and falsified compliance documents, with clients linked to sanctioned Russian entities. Arrested on June 9, 2025, Gugnin faces a 22-count indictment, including wire fraud and money laundering, while being held without bail.
The U.S. Secret Service has issued a warning to the National Association of Realtors (NAR) about a cryptocurrency scam known as "Pig Butchering." Fraudsters are targeting real estate professionals by posing as luxury, all-cash buyers, enticing agents to invest in cryptocurrency, which can lead to significant financial losses.
A crypto investor lost $2.6 million in a zero-value transfer phishing scam, where scammers created fake wallet addresses resembling legitimate ones. This tactic exploits user confusion, leading to irreversible losses as victims unknowingly send funds to the scammers. Address poisoning remains a significant threat, with millions lost across major blockchains.
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Societe Generale to introduce new dollar-pegged stablecoin initiative
02:14 11.06.2025
Dubai man sentenced for cryptocurrency scam costing victim over 224000 dirhams
21:30 10.06.2025
guggenheim launches tokenized commercial paper on xrp ledger
18:21 10.06.2025
AI deepfakes contribute to significant rise in cryptocurrency scams
14:39 10.06.2025
Siebert Financial plans to raise 100 million for crypto and AI investments
10:20 10.06.2025
Philippines stablecoin PHPC exits trial phase to enhance remittances and transactions
09:18 10.06.2025
bain capital leads 30 million series b for crypto wallet startup turnkey
08:20 10.06.2025
crypto founder charged in massive money laundering scheme using stablecoins
05:53 10.06.2025
U S Secret Service alerts real estate agents to cryptocurrency scam risks
19:15 09.06.2025
crypto scams exploit zero value transfers to steal millions from investors
16:15 09.06.2025
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