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US Marshals and Missing Crypto: How a Broken Procurement Process May Have Put $40 Million at Risk?
A quiet but potentially explosive dispute is unfolding between Wave Digital Assets and the United States Marshals Service, and it touches a nerve that the federal government has been trying not to expose for years: the fact that it still does not know how to safely hold, monitor, and dispose of seized cryptocurrency. Wave, a Los Angeles–based, SEC-registered investment advisory firm, has now formally asked the Department of Justice’s Office of the Inspector General to open a full investigation, citing credible public allegations that more than $40 million in government-controlled crypto may have been unlawfully transferred out of official wallets. If even partially true, this is not just a technical failure, it is a custody failure, a governance failure, and a regulatory failure rolled into one, the kind that would trigger immediate enforcement action if it happened in the private sector.
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NYSE Goes Blockchain, and Wall Street Quietly Crosses a Line
NYSE’s announcement sounds, on the surface, like just another infrastructure upgrade dressed in blockchain language, but it is actually something far more consequential: the world’s most symbolic stock exchange is preparing to treat on-chain settlement not as an experiment, not as a sandbox, but as a core market function. Once you strip away the PR polish, the message is blunt. The NYSE is done waiting for crypto to grow up. It is absorbing the technology into its own regulated, institutional bloodstream, on its own terms, and at its own pace. That distinction matters more than any buzzword in the release.
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Visa Launches Stablecoins Advisory Practice to Guide Banks and Businesses Through the Next Phase of Digital Payments
Visa is making a very deliberate move deeper into the stablecoin economy, announcing the launch of its new Stablecoins Advisory Practice under Visa Consulting & Analytics, a step that feels less like a side experiment and more like infrastructure thinking finally catching up with market reality. The tone of the announcement matters here: this is not framed as speculation or hype, but as a value-added advisory service aimed squarely at banks, fintechs, merchants, and enterprises that are already feeling pressure to decide whether stablecoins belong in their payments stack, and if so, where exactly. With the stablecoin market now exceeding a $250 billion capitalization and Visa’s own stablecoin settlement volumes accelerating toward a $3.5 billion annualized run rate as of late November, the company is positioning itself as both guide and gatekeeper, helping clients navigate market fit, strategy, and real-world implementation without breaking their existing systems in the process.
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Klarna × Privy: Rethinking the Crypto Wallet for Everyday Users
Klarna quietly crossed an interesting line this week, the kind that only looks obvious in hindsight. The global digital bank and flexible payments provider has signed a research partnership with Privy, the wallet infrastructure platform owned by Stripe, to explore and co-design potential wallet solutions aimed at powering a new generation of crypto products for Klarna users. It’s not a product launch yet, and that restraint matters. This is framed as research, exploration, and design — Klarna taking a measured step into infrastructure rather than hype, which already tells you something about how seriously it’s approaching crypto this time around.
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N3XT Launches Fully Blockchain-Powered Bank for Programmable B2B Payments
N3XT introduced what it calls the first fully blockchain-enabled commercial bank, designed for instant, programmable B2B payments. Its infrastructure supports conditional settlement, automated workflows, and composable financial logic — capabilities that could sharply reduce friction in cross-border transactions. The launch reflects a broader movement toward institutional-grade blockchain rails aimed at modernizing global payment systems rather than serving speculative retail markets.
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