[CRYPTO]

Tether, the world's largest stablecoin issuer, plans to launch GELT, a digital currency pegged to Georgia's lari with backing from the Georgian government. The partnership marks an unusual collaboration between a major crypto firm and a sovereign nation.

Coinbase Global Inc. is laying off approximately 700 employees, or 14% of its workforce, citing volatile crypto markets and the need to manage costs amid AI advancement. The cuts will occur mostly in Q2, with restructuring expenses reaching up to $60 million.

Coinbase will eliminate approximately 700 jobs, representing 14% of its global workforce, as the cryptocurrency exchange moves to reduce costs. CEO Brian Armstrong cited AI's impact on work practices as a driver of the restructuring.

Coinbase CEO Brian Armstrong announced a significant workforce reduction of approximately 14% today. The crypto exchange is scaling back operations in a move Armstrong described as difficult but necessary.

Coinbase laid off nearly 700 employees as the cryptocurrency exchange restructures around AI capabilities. CEO Brian Armstrong cited declining crypto markets as the reason for the cuts.

The Wall Street Journal reports Iran exploited Binance to move billions of dollars despite international sanctions. The cryptocurrency exchange allegedly processed transactions to fund Iran's military operations.

Polymarket has partnered with blockchain analytics firm Chainalysis to strengthen detection of insider trading on its prediction market platform. The move follows recent backlash over suspicious bets placed before major news events.

Blockchain.com, a UK-based crypto exchange founded in 2011, has confidentially filed to go public on U.S. markets. The company was previously valued at $14 billion.

Decentralized finance is executing its biggest coordinated rescue after a $10 billion run on Aave, the largest DeFi lending protocol, triggered by a security breach at KelpDAO.

Ethereum co-founder Vitalik Buterin says AI-powered formal verification could strengthen blockchain networks and smart contracts against software vulnerabilities. The approach uses mathematical proof to validate code security.

Iran has introduced "Hormuz Safe," a Bitcoin-backed insurance service for ships transiting the Strait of Hormuz, as approximately 1,500 vessels remain trapped in the region amid escalating tensions.

South Korea's Hana Bank has agreed to acquire a 6.55% stake in Dunamu, operator of South Korea's largest cryptocurrency exchange Upbit, from Kakao for $672.5 million.

Justin Sun and his companies have filed suit against World Liberty Financial, a crypto venture co-founded by President Donald Trump, claiming the project engaged in extortion and an illegal scheme to seize his tokens.