US Senators Launch Tether-Lutnick Bribe Probe
US Senators initiated a formal investigation into an alleged bribe involving stablecoin issuer Tether ($USDT) and Howard Lutnick, CEO of Cantor Fitzgerald. The probe focuses on reports that Lutnick provided Tether with a lien on his family assets. Legislators suggest this facilitated Lutnick's children purchasing his Cantor Fitzgerald ownership stake.
The transaction is scrutinized as potential 'special treatment' for politically connected crypto interests. Concerns that such dealings could unduly influence digital asset market structure legislation and undermine national security. Senator Warren questions related-party lending practices central to this inquiry.
Tether Freezes $344M $USDT Linked to Iran Sanctions
Tether froze $344 million in $USDT across two Tron blockchain addresses. The action, carried out in cooperation with the U.S. Treasury Department and law enforcement, targeted assets tied to Iran's Central Bank, prompting the freeze due to international sanctions.
The U.S. Treasury Department characterized this as the largest crypto asset freeze in history. This latest action brings the cumulative value of crypto assets frozen by U.S. authorities in connection with Iran-related sanctions to nearly $2 billion.
Community sentiment registered -62, indicating a strongly bearish perception following the announcement.
Ripple CEO: XRP eyed for US Strategic Reserve
Ripple CEO Brad Garlinghouse indicated $XRP is considered for inclusion in a U.S. Strategic Reserve.
The concept of an $XRP strategic reserve has been discussed, with former President Trump suggesting a crypto reserve including $XRP. However, Ripple CTO David Schwartz denied secret U.S. government plans involving $XRP.
Social data showed $XRP sentiment increased, registering one of the strongest bullish readings in two years. $XRP's price stood at $1.380000, up 0.7% over 24 hours, though down 3.5% over seven days. Its mindshare registered a 0.1% change.
PayPal Elevates Crypto to Core Business Division
PayPal reorganized its business, formally establishing cryptocurrency as a top priority. Serving 450 million users and 40 million merchants globally, the company restructured into three distinct core operating units.
Its new framework designates "Payment Services & Crypto" as a primary segment, positioning crypto operations as a dedicated division within PayPal's core business. The other two units are "Checkout Solutions & PayPal" and "Consumer Financial Services & Venmo."
Solana Hits New ATH Above $250, Spot ETF Odds Climb to 88%
Solana ($SOL) hit a new all-time high, surpassing $250. The surge coincided with predicted odds for a Solana Spot Exchange-Traded Fund (ETF) approval rising to 88%.
Futures market activity showed increased upward pressure, characterized by large-scale net buying of long positions. Open Interest (OI) in $SOL futures consistently increased. Historically, sustained OI increases alongside price appreciation often signal strong market conviction, as seen in previous bull cycles for assets like Ethereum in 2021.
Tether recently minted an additional $1 billion in $USDT on Solana. This issuance contributed to $4 billion in $USDT minted on Solana by Tether over the past 30 days.