Grayscale Files for Cardano ETF as ADA Surges 14 Percent

Grayscale has filed for a Cardano exchange-traded fund (ETF) with the New York Stock Exchange, marking its first standalone investment vehicle for ADA. This move comes amid rising institutional interest in Cardano, as the token surged 14% following the announcement, despite a recent downtrend. Analysts remain optimistic about ADA’s potential for continued growth, especially if the SEC approves the ETF.

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UBS Must Relocate to Mitigate Systemic Risks to Swiss Economy

UBS’s precarious position, with a mere 5% equity ratio against a balance sheet of CHF 1,700 billion, highlights the systemic risks it poses to Switzerland’s economy. The implicit state guarantee for “too big to fail” banks encourages reckless behavior, and UBS’s potential departure could mitigate these risks without significant economic fallout. A call for increased equity capital could prompt UBS to relocate, ultimately safeguarding Swiss prosperity.

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Georgia indicts three developers for operating crypto mixers linked to cybercrime

Three Russian nationals have been indicted in Georgia for their roles in operating crypto mixers Blender.io and Sinbad.io, which allegedly laundered funds linked to cybercrime, including ransomware. The defendants face charges of conspiracy to commit money laundering and operating unlicensed money-transmitting businesses, with potential sentences of up to 20 years. The investigation, led by the FBI, involved international cooperation and resulted in the dismantling of Sinbad.io in November 2023.

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Cardano Founder Critiques Crypto Projects and Community Behavior in Recent Livestream

In a recent livestream, Cardano founder Charles Hoskinson criticized certain cryptocurrency projects, particularly Hex and PulseChain, labeling them as part of a troubling culture within the industry. He expressed disinterest in these projects, highlighted ongoing legal issues faced by their founder Richard Heart, and urged communities to reflect on their ecosystems’ future. Hoskinson emphasized the importance of self-governance and collaboration, distancing Cardano from these controversies while wishing the communities well.

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Finnish Police Seize 2.6 Million Dollars in Watches from Hex Founder

Finnish police seized luxury watches valued at $2.6 million from Richard Schueler, founder of Hex, who is wanted for tax fraud and assault. The confiscation included 20 Rolexes found in Espoo, with allegations of unpaid taxes reaching several hundred million euros. Schueler also faces a lawsuit from the SEC for issuing unregistered securities and misusing investor funds.

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Finnish Police Seize Luxury Watches from Hex Founder Richard Heart

Finnish police seized luxury watches valued at $2.6 million from Hex founder Richard Schueler, also known as Richard Heart, who is wanted for tax evasion. Interpol issued a red notice for Schueler over tax fraud and assault allegations, while the SEC has charged him with conducting unregistered securities offerings exceeding $1 billion. The investigation revealed misuse of funds for luxury goods, including a rare black diamond.

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Nokia patents encryption technology to enhance digital asset security

Nokia has patented a new encryption technology aimed at enhancing the security of digital assets, addressing significant vulnerabilities that led to $2.2 billion in losses in 2024. This innovative system encrypts assets like Bitcoin and Ethereum, making them nearly inaccessible without the private key, and supports encrypted transactions post-confirmation. As part of its shift from mobile phones to emerging technologies, Nokia’s efforts in blockchain and 5G could reshape secure data management in a rapidly evolving market.

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Interpol Issues Red Notice for Hex Founder Richard Heart Over Fraud Charges

Interpol has issued a red notice for Richard Schueler, known as Richard Heart, the founder of Hex cryptocurrency, over allegations of tax fraud and assault. The U.S. government is also pursuing him for orchestrating a $1 billion illegal securities scheme, with the SEC accusing him of violating securities laws. Schueler is under investigation in Finland for gross tax evasion and assault, while his cryptocurrency project faces scrutiny for potential unregistered securities violations.

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