Bitcoin Rodney Pleads Guilty to $1.8B HyperFund Fraud, Faces Five Years Maximum

Bitcoin Rodney” pleaded guilty to operating an unlicensed money transmitting business in the $1.8 billion HyperFund fraud scheme, personally pocketing $7.85 million while promising fake daily returns to investors worldwide. Arrested at Miami airport with a one-way ticket to the UAE, Burton now faces sentencing on July 23 for conspiracy charges carrying a five-year maximum.

Trace Finance Raises $32M as Brazil’s FX Rules Push Banks to Stablecoins

Trace Finance raised $32 million in Series A funding led by CoinFund to expand its stablecoin settlement infrastructure from Brazil into Latin America and Asia-Pacific. The round attracted major institutional backers including Coinbase Ventures, Paxos, and Chainlink Labs, alongside individual investors like Circle co-founder Sean Neville and Solana Labs co-founder Anatoly Yakovenko.

PBOC Launches e-CNY Settlement Network as China Bans Private Stablecoins

China’s central bank is systematically eliminating private stablecoins domestically while simultaneously launching CBETS, a blockchain settlement platform that ties 26 global financial institutions directly to the digital yuan. The strategy neutralizes stablecoins’ competitive advantages through regulatory bans and interest-bearing e-CNY wallets, positioning Beijing’s digital currency as the preferred cross-border payment rail.

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