Stripe’s president confirms growing interest in stablecoins from banks, but adoption would still require more green lights from regulators. Payment giant Stripe has reportedly held early discussions with banks about potentially integrating stablecoins, signaling growing acceptance in global banking. After debuting stablecoin-based accounts in 100 countries in early May, Stripe has noticed significant interest in stablecoins — cryptocurrencies tied to fiat currencies like the US dollar — from global banks. “In the conversations we have with them, they’re very interested,” Stripe co-founder and president John Collison said in an interview with Bloomberg News on May 30. Read more
Exposure to wallets tied to suspected Garantex successor Grinex keeps rising as blockchain analyst warnings are ignored. Grinex, a cryptocurrency exchange identified as the suspected successor to the sanctioned Russian platform Garantex, has reportedly moved more than $1.66 billion in crypto through exchanges, despite red flags raised by blockchain analytics firm Global Ledger. Garantex had its infrastructure taken down by US, German and Finnish authorities in March and has since reportedly shifted its operations to Grinex. Global Ledger initially told Cointelegraph that various cryptocurrency exchanges had around $1 billion in fund exposure to Grinex, as of early May. Read more
DeepSeek’s latest AI model flags Xinjiang camps as human rights violations but censors direct criticism of China, raising concerns over contradictions and increased censorship. A developer has raised concerns that the Chinese artificial intelligence startup DeepSeek’s newly released AI model is less willing to engage in discussions on controversial topics, particularly those related to the Chinese government. In an X thread, a pseudonymous developer known as “xlr8harder” shared critical observations of DeepSeek R1-0528, a recently released open-source language model. The developer shared tests demonstrating a significant decline in the AI’s willingness to engage in contentious free speech topics, compared with previous versions. Read more
MiCA has had a limited impact on the adoption of compliant stablecoins in Europe, strengthening the need for the digital euro, Bank of Italy Governor Fabio Panetta said. Former European Central Bank (ECB) official and Governor of the Bank of Italy, Fabio Panetta, touted the digital euro as a key tool for controlling the risks of increasing cryptocurrency adoption. The Bank of Italy, on May 30, released an annual report with the governor’s concluding remarks on the state of the economy. Panetta said the European Union must move forward with the central bank digital currency (CBDC) project to maintain financial stability and meet demand for secure digital payments. “We would be remiss to think that the evolution of crypto-assets can be controlled only through rules and restrictions,” Panetta said, warning that crypto regulation alone cannot address the systemic risks posed by crypto, and that the digital euro would be key to addressing them. Read more