The Daily Crypto Brief!

All major crypto news explained

GM readers. Cryptocappy is here again to deliver you the freshest updates from the world of crypto. Let’s begin!

Circle Smashes IPO Records, Outshining Meta, Robinhood & Airbnb

Before its first day of trading on the New York Stock Exchange, the company set its stock price at $31 per share—a jump from earlier estimates of $26 and $28, showing strong investor interest.

But what happened next shocked Wall Street. Within minutes of trading, Circle’s stock more than tripled, rising so fast that the exchange had to pause trading multiple times to handle the volatility.

By the end of the day, its share price soared to $82.84—a 167% increase from the initial price. And on Friday, it climbed even higher to $123.51, nearly quadrupling its original valuation.

DOJ Moves to Seize $7.7M in Crypto Laundered by North Korean IT Workers

The U.S. Department of Justice (DOJ) has filed a claim to seize $7.74 million in crypto that North Korean IT workers illegally earned by using fake identities to get jobs at U.S. and international companies.

The U.S. government took the funds as part of a crackdown on North Korea’s attempts to bypass economic sanctions. The DOJ says these North Korean workers got hired at U.S. crypto companies using fraudulent identities and then sent their earnings to the company, who laundered it for the North Korean government.

Deutsche Bank Dives into Stablecoins and Tokenized Deposits

Deutsche Bank is diving deeper into digital assets, exploring stablecoins and tokenized deposits to modernize payments.

The bank is considering launching its own stablecoin or joining an industry-wide project, its head of digital assets.

It’s also looking into blockchain-based deposits that could speed up transactions. Stablecoins (linked to traditional currencies) and tokenized deposits (digital versions of bank deposits) are gaining popularity as banks seek faster, cheaper payment solutions.

Switzerland to Share Crypto Holder Data with 74 Nations Under OECD Rules

Switzerland is stepping up its crypto reporting game! 🇨🇭

The Swiss Federal Council has approved a plan to share crypto holder data with 74 countries starting in 2027, aligning with global financial transparency rules.

This exchange follows the OECD’s Crypto-Asset Reporting Framework (CARF), which helps track offshore digital assets for tax compliance. The list includes EU nations, the UK, and most G20 members, but excludes the U.S. and Saudi Arabia.

Coinbase Cuts Account Freezes by 82%, But Trust Issues Linger

Coinbase is working to rebuild trust after years of complaints about account freezes.

Many users say their accounts were blocked unfairly, with failed recovery attempts despite submitting the required KYC documents. While the 82% reduction in freezes is promising, industry experts remain cautiously optimistic.

Retail investors still have major doubts about Coinbase’s reliability. The real test now is whether it can move beyond just being a crypto exchange and become a trusted platform for businesses to store and transfer funds with confidence.

Thats all for today folks. Have a great day ahead!