Based on an evaluation between December 2023 and January 2025, the IRS Criminal Investigation did not always follow guidelines around seizing and holding crypto in cases. A US government watchdog has recommended reforms to the Internal Revenue Service (IRS) criminal investigation division’s handling of digital assets, citing repeated failures to follow established protocols. In a Tuesday report, the US Treasury Inspector General for Tax Administration said its evaluation of the IRS Criminal Investigation (IRS-CI) revealed shortcomings around the seizure and safeguarding of digital assets. According to the government watchdog, the IRS failed to follow all guidelines between December 2023 and January 2025 for seizure memorandums around confiscated crypto, detailing the addresses, dates, and amounts. Read more
Europe's largest asset manager says the US GENIUS Act could unintentionally weaken the greenback and disrupt global payments. European asset manager Amundi believes that the US GENIUS Act could trigger a surge in dollar-backed stablecoins, potentially causing unintended consequences for the global payment system, and even threatening the long-term dominance of the greenback itself. “It could be genius, or it could be evil, said Vincent Mortier, Amundi’s chief investment officer, in a recent interview with Reuters. While dollar-backed stablecoins have long been seen as a way to guarantee the dollar’s global hegemony, promoting a stablecoin could actually create “an alternative to the US dollar [...] that can could lead to more weakening of the dollar,” said Mortier. Read more
XRP’s price breaks out of a “pennant” with a profit target of around $3.20 amid increasing futures open interest. Key takeaways: XRP breaks out of a “pennant” on the weekly chart, hinting at 40% gains to $3.20. Several positive developments and increasing open futures open interest signal XRP’s ability to break out of consolidation. Read more
AI models generate immense value from user data. It’s time to demand onchain attribution and pay the people whose data makes AI possible with Payable AI, to ensure fair recognition and payment for everyone. Opinion by: Ram Kumar, core contributor at OpenLedger The public has knowingly contributed to the rise of artificial intelligence, often without realizing it. As AI models are projected to generate trillions of dollars in value, it’s time to start treating data like labor and building onchain attribution systems to pay the ones making it possible. X posts by users helped train ChatGPT, and their blog posts and forum replies shaped models that are now monetized by some of the most powerful companies in the world. Read more