Daily recap — May 21

Lead stories

The Federal Reserve System is proposing a “simplified master account” concept for crypto and fintech companies — direct access to Fedwire and FedNow without intermediary banks.

Iran controls $7.7 billion in crypto assets and is actively using Bitcoin as a financial rail to bypass sanctions.

A Russian citizen decided to legally declare crypto income, but ended up facing a criminal case — he now risks a fine of up to 500,000 rubles or up to 2 years in prison.

Hackers exploited the anonymous P2P exchange RetoSwap, where Monero was traded — the damage amounted to around 7,000 XMR ($2,700,000).

The Moscow Exchange is preparing to launch test crypto trading by early summer 2026, while real transactions could begin closer to the end of the year.

Russian authorities are deciding which stable-value currencies will be allowed onto the market — priority is being given to digital ruble-backed assets and tokens from friendly countries.

SpaceX, owned by Elon Musk, filed for an IPO at a $1.75 trillion valuation and disclosed reserves of 18,712 BTC purchased at an average price of $35,000.

The head of digital assets at a major American bank said banks are entering crypto through the clearest use case — stable-value currencies for cheap 24/7 global payments.

Binance is launching a new platform for those no longer satisfied with just crypto — users will now be able to trade expectations around companies even before their IPOs.

In France, there was yet another attempted attack on representatives of the crypto industry for ransom — unknown individuals dressed as couriers tried to kidnap the wife of a co-founder of The Sandbox right outside their home.

Rostelecom introduced the “Leshiy Connect” system, which can remotely connect to users’ routers and update firmware without the owner’s involvement.

A major crypto whale lost around $26,000,000 in just one week — his main bet is a $110 million short position on HYPE with 5x leverage, but the market is currently moving against him.

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