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Bitget enters real-world asset race with yield-bearing BGUSD stable asset

Crypto exchange Bitget has entered the expanding market for crypto investment products with the launch of BGUSD, a yield-bearing stable asset backed by tokenized real-world assets.

The company announced that BGUSD offers an annual yield of 4%, which is credited daily to users’ spot accounts. Subscriptions to BGUSD can be made using either USDC (USDC) or USDt (USDT), and the asset is redeemable back to USDC on demand.

The company said the yield is derived from a basket of tokenized instruments, including US Treasury bills and high-grade money-market funds. “These assets are managed via partnerships with regulated institutional tokenization providers such as Superstate,” Bitget CEO Gracy Chen told Cointelegraph.

The product’s structure is designed to reduce exposure to crypto volatility while delivering returns through traditional financial instruments.

Bitget to roll out third-party attestations

In response to questions about transparency, Chen said that Bitget is preparing to roll out third-party attestations to provide visibility into BGUSD’s

Blockchain.com expands in Africa as local crypto rules take shape

Blockchain.com is stepping up its presence in Africa, targeting markets where governments are beginning to implement crypto regulations.

The UK-based exchange plans to open a physical office during the second quarter in Nigeria — its “fastest-growing market” in West Africa — along with broader expansion efforts in Ghana, Kenya and South Africa, according to a May 27 report by Bloomberg.

“Nigeria has taken meaningful steps toward creating a clear framework for crypto,” Owenize Odia, Blockchain.com’s general manager for Africa, reportedly said.

The move comes as global sentiment shifts, including political tailwinds from the United States, where President Donald Trump’s pro-crypto stance has encouraged industry expansion.

Nigeria and Ghana lead in crypto regulation

While cryptocurrency trading remains restricted in many African countries, some, including Nigeria and Ghana, are taking steps toward creating legal frameworks for exchanges.

Odia said the company

How central banks are testing blockchain-based monetary policy

Why are central banks looking at blockchains?

Central banks are tiptoeing into the world of blockchain not because it is fashionable but because every part of the money-making machine, from settlement rails to asset custody, is slowly being rewritten as code.

The financial industry is already tokenizing money-market funds, Treasurys and even bank deposits. According to the Atlantic Council, 134 jurisdictions are studying or piloting a central bank digital currency (CBDC), up from just 35 in 2020.

Meanwhile, commercial banks have begun to warn that if they cannot move tokenized deposits across public blockchains such as Solana or private ledgers like R3 Corda, they risk being left behind.

From a central bank’s vantage point, two questions matter:

First, can traditional operations, such as open-market purchases, standing facilities and reserve remuneration still work if reserves and government bonds become smart tokens? Second, can monetary transmission improve when policy

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Thailand to allow crypto spending for tourists, eyes regulatory reform

Thailand is preparing to let tourists spend cryptocurrency via credit card-linked platforms as part of a broader strategy to modernize its financial system and embrace digital assets.

The plan was announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira during an investment seminar in Bangkok on May 26, according to reports from Bangkok Post and The Nation.

The initiative, currently under review by the Ministry of Finance and the Bank of Thailand, will enable tourists to link their crypto holdings to credit cards for local purchases.

Merchants will receive Thai baht as usual, often without knowing crypto was used in the transaction. The pilot is expected to roll out after key infrastructure and regulatory checks are in place.

“This approach can be immediately adapted for Thailand, provided the supporting systems are in place,” said Pichai, noting that the model avoids using the Thai baht directly, reducing risks to the domestic currency.

France arrests over 12 suspects linked to crypto kidnappings: Report

French authorities have arrested more than 12 people who have been linked to two high-profile crypto kidnapping cases in Paris, France, local media reports.

Those arrested include several minors, with charges against them including kidnapping, attempted kidnapping and criminal conspiracy, Le Parisien reported on May 26.

French investigators are exploring the possibility that a criminal organization is behind two recent crypto-linked kidnapping cases, with social media networks being used for recruitment.

In one recent alleged kidnapping attempt on May 13, three men tried to snatch the daughter and grandson of Pierre Noizat, the co-founder and CEO of French crypto exchange Paymium, in broad daylight in Paris.

That attempt, which bystanders captured on video, shows that the alleged attempt was thwarted as Noizat’s daughter fought back and passersby intervened.

In another case earlier in May, French authorities rescued the father of a crypto marketing entrepreneur who was

Humanoid AI-powered robots duke it out in China fight comp

Four artificial intelligence-enhanced robots have been put through their paces in a Chinese robot fighting competition, duking it out in kickboxing matches until one was declared the champion.

The World Robot Competition Mecha Fighting Series had four human-controlled robots built by China-based firm Unitree compete in three, two-minute rounds with winners crowned through a points system, according to a May 26 report from the China state-owned outlet the Global Times.

Chen Xiyun, a Unitree team member, said the “robots fight in a human-machine collaborative way,” with the machines pre-taught moves, but ultimately, a person controls the bot’s movements.

The robots reportedly weighed 35 kilograms and stood 132 centimeters tall. Ahead of the boxing rounds, the pint-sized robots were put through tests to demonstrate a variety of kicks and punches and assist the organizers in refining the rules.

The team with the highest points across the three rounds moves on

Former CFTC Chair Christopher Giancarlo joins crypto bank Sygnum

Christopher Giancarlo, former chairman of the US Commodity Futures Trading Commission (CFTC), has joined Sygnum in an advisory role, where he will help the crypto bank navigate global regulations amid growing institutional interest in digital assets.

Giancarlo’s appointment as senior policy adviser places him alongside 11 other members of Sygnum’s Advisory Council, the company disclosed on May 27.

In his role, Giancarlo will advise on regulations and strategic partnerships in both the public and private sectors.

Sygnum is a Swiss banking group dedicated to providing crypto asset services. It’s often called the first digital asset bank, having recently achieved unicorn status following a $58 million funding round.

Giancarlo, who headed the CFTC between 2017 and 2019, said he is joining Sygnum at a time when the global digital asset industry is nearing a turning point in institutional adoption.

Christopher Giancarlo. Source: Sygnum

Giancarlo has earned the moniker of “crypto dad” for his advocacy

Bitcoin long-term holders ‘quietly capitalizing’ with drop to $109K

Bitcoin markets recently experienced two major liquidation events, causing a cascade of forced selling from over-leveraged traders, but analysts say a distinct pattern has emerged.

“Overleveraged short-term traders were flushed out, long-term holders have been quietly capitalizing on the reset,” CryptoQuant analyst Amr Taha said on May 26.

They noted the first flush occurred when Bitcoin (BTC) fell below $111,000, and over $97 million in long positions were liquidated. As its price broke $109,000, another $88 million in longs were wiped out in the second wave.

However, as short-term traders faced margin calls and forced selling, long-term holders (LTH) responded very differently and increased their accumulation.

This caused the long-term holder realized capitalization to surge past $28 billion, a level not seen since April. Realized cap is a measure of the value of each Bitcoin based on the last time it was moved, rather than the current market

Migos Instagram account hacked in apparent blackmail bid on Solana co-founder

The Instagram account of former US rap trio Migos was hacked in an apparent attempt to blackmail Solana co-founder Raj Gokal.

On May 27, Migos’ Instagram account posted at least seven images seen by Cointelegraph that have since been deleted. Two of the images appeared to depict Gokal holding up his passport and driver’s license, clearly showing the full details of each document.

The account’s hacker tagged Gokal in one of the images that apparently showed him with the caption “you should’ve paid the 40 btc,” while another image depicting Gokal was captioned “it was only 40 btc.. should’ve paid,” in what appears to be a references to a failed extortion attempt.

Another image posted by the account hacker shows what the caption claimed was Gokal’s wife holding up a driver’s license, while a further two images appear to be a dump of private information, including mobile phone numbers and email addresses.

The type

Saylor says onchain proof-of-reserves a ‘bad idea’ due to security risks

Michael Saylor, the executive chair of major Bitcoin-buying firm Strategy, formerly MicroStrategy, says institutions posting onchain proof-of-reserves is a “bad idea” that could pose security risks.

“The current, conventional way to publish proof of reserves is an insecure proof of reserves,” Saylor said when asked about institutions adopting the transparency measure at a May 26 event on the sidelines of the Bitcoin 2025 conference in Las Vegas.

“It actually dilutes the security of the issuer, the custodians, the exchanges and the investors. It’s not a good idea, it’s a bad idea.”

Saylor didn’t answer whether Strategy would publish its proof-of-reserves when asked by Blockware Solutions head analyst Mitchell Askew whether his firm would do so.

I asked @saylor if @MicroStrategy has any plans to publish on-chain proof of reserves

His answer will SHOCK you

“It’s a bad idea.”

– Security Risk
– Irrelevant without also having Big 4-audited liabilities

Check it out 👇 pic.twitter.com/tIxUckgbEp

— Mitchell

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