Bilal_With_Crypto

StraitsX, a Singapore-based company, has seen rapid growth in its stablecoin card program, with a 40x surge in transaction volume and an 83x increase in card issuance between 2024 and 2025.
In the bustling markets and digital economies of Southeast Asia, a quiet revolution is underway. Stablecoin-backed payments are becoming so seamless that users often don't realize they're using crypto at all. Behind the scenes, infrastructure providers like Singapore-based StraitsX are turning blockchain rails into an "invisible" layer that powers everyday spending.
Between Q4 2024 and Q4 2025, StraitsX recorded a staggering 40x increase in card transaction volume for its stablecoin card program. The number of cards issued grew even faster — an 83-fold jump — making it one of the fastest-expanding stablecoin card initiatives in the region, according to company co-founder and CEO Tianwei Liu.
StraitsX doesn't issue the cards directly to consumers. Instead, it operates as a Visa BIN sponsor and provides the stablecoin settlement infrastructure for partners such as RedotPay and UPay. When a customer taps their card or scans a QR code at a merchant, the transaction feels like any normal payment in local currency. In the background, stablecoins (including StraitsX's own XSGD and XUSD) settle instantly, bridging crypto and traditional finance without friction.
"No user cares whether a payment runs on stablecoins or fiat — they only care if the payment goes through," Liu told CoinDesk. This philosophy drives the company's strategy: make the stablecoin layer as invisible as possible, much like fiber-optic cables that power the internet but remain unnoticed by everyday users.
Broader Context: Crypto Cards Going Mainstream
The growth at StraitsX mirrors a larger trend. Global monthly volumes for crypto cards have ballooned from roughly $100 million in early 2023 to over $1.5 billion by late 2025. In Southeast Asia, where remittances, cross-border trade, and digital payments are booming, stablecoin cards offer clear advantages: lower fees, faster settlements, and 24/7 availability compared to traditional banking rails.
One partner, RedotPay, is on track to process over $2.95 billion in card transactions in 2025 alone, highlighting the real-world scale these programs are achieving.
StraitsX has cumulatively processed nearly $30 billion in stablecoin transactions, underscoring its role as a key infrastructure player. The company issues regulated stablecoins tied to the Singapore dollar (XSGD), US dollar (XUSD), and Indonesian rupiah (XIDR), providing compliant on-chain rails for both crypto-native and traditional institutions.
Expansion Plans and the Road Ahead
StraitsX is not stopping at cards. The company is actively expanding its StraitsX Payment Network across Asia. Key initiatives include:
Project BLOOM with Thailand's KASIKORNBANK (KBank), enabling real-time, FX-transparent cross-border QR payments between Singapore and Thailand (targeted for Q2 2026 go-live).
Plans to connect Japan, Taiwan, and other markets, creating a unified payment corridor across Southeast and Northeast Asia.
An MOU with super-app Grab to explore Web3 wallets and stablecoin settlement integrated into everyday experiences.
By the end of March 2026, StraitsX expects to launch its XSGD and XUSD stablecoins on the Solana blockchain, opening the door to high-speed, low-cost applications — including potential machine-to-machine micropayments.
Visa, a key partner, views stablecoin-backed cards as a natural evolution of payments. They deliver the same familiar customer experience while unlocking benefits like reduced remittance costs and opportunities for personalized rewards.
Why "Invisible" Matters
For many in Southeast Asia, crypto still carries a perception of volatility and complexity. By making stablecoins the invisible backbone of familiar card and QR payments, companies like StraitsX are accelerating mainstream adoption without requiring users to understand blockchain.
As Liu puts it, stablecoins should simply work — reliably, instantly, and without drawing attention to the technology underneath.
With regulatory clarity improving in Singapore and across the region, and stablecoin volumes continuing to climb, the "invisible" payments layer may soon become the new normal for millions of users in Southeast Asia and beyond.

Washington state has joined a growing list of jurisdictions cracking down on prediction market platforms, filing a civil lawsuit against Kalshi accusing the company of operating an illegal online gambling service under the guise of “prediction markets.”
Washington Attorney General Nick Brown announced the lawsuit on March 27, 2026, claiming that Kalshi’s platform allows users to place bets on sports, elections, entertainment events, and thousands of other outcomes — activities that allegedly violate the state’s strict Gambling Act and Consumer Protection Act.
“Kalshi really is just a bookie with a fancy name,” Brown said in a statement. “Kalshi attempts to skirt state law by branding its betting platform as a ‘prediction market,’ but whatever Kalshi chooses to call it, Kalshi’s operations clearly fall under the definition of illegal gambling in Washington.”
The lawsuit, filed in King County Superior Court, seeks to shut down Kalshi’s operations in the state, recover money lost by Washington residents on the platform, and impose civil penalties.
### How Kalshi Works — and Why Washington Says It’s Gambling
Kalshi’s mobile app and website let users trade contracts on real-world events, where the payout depends on whether a specific outcome occurs. The state argues this structure mirrors traditional sportsbooks: users see events, odds, and potential payouts, which is “exactly how sportsbooks and other gambling operations function.”
The complaint highlights Kalshi’s own marketing, including an advertisement suggesting users could “bet on the NFL even though we live in Washington,” as evidence that the company knowingly targets residents in states with strict anti-gambling laws.
Kalshi has positioned itself as a financial innovation platform rather than a betting site, allowing users to “bet on anything” from election results to sports outcomes and even broader events. However, Washington officials reject this framing.
“Kalshi wants people betting on almost everything possible in life — the outcome of elections, Supreme Court cases, even wars,” Brown added. “It’s a lie, and it’s illegal.”
### Broader Context: Rising Regulatory Scrutiny
Washington’s action is the latest in a series of legal challenges facing prediction market operators in the United States. Several states have begun treating these platforms as unlicensed gambling operations, even as the industry argues it provides valuable information markets and hedging tools.
Kalshi, which has gained popularity for its election and sports contracts, has previously faced regulatory hurdles at both state and federal levels. The company maintains that its products are distinct from traditional gambling because they function more like event-based financial contracts.
In response to the lawsuit, Kalshi has pushed back, noting that the suit was filed just before a scheduled meeting with the Attorney General’s office. The company has disputed some characterizations, such as claims of offering “war markets.”
### What’s Next?
The civil suit emphasizes consumer protection. Under Washington law, individuals who lose money on illegal gambling activities may be entitled to recover their losses.
This case could have significant implications for the future of prediction markets in the U.S., especially as more states examine whether these platforms cross the line into regulated gambling territory.
The CoinDesk app screenshot in the story’s imagery highlights Kalshi’s presence on mobile devices, showing its “Trade the Big Game” branding and focus on sports, NFL, NBA, crypto, and tech events — precisely the type of offerings now under legal fire.
As the lawsuit progresses, the crypto and fintech communities will be watching closely to see whether prediction markets can survive increasing state-level pushback or if tighter regulations will reshape the industry.

The average public miner spent $79,995 to produce one bitcoin in Q4 2025. Bitcoin is currently trading around $66,000–$70,000. The math doesn’t work, so the industry is pivoting hard to AI, taking on more than $70 billion in contracts, and liquidating bitcoin treasuries to finance the shift.
Bitcoin mining has always been a high-stakes, capital-intensive business powered by cheap electricity, massive scale, and the belief that holding mined BTC would pay off in the long run. But in early 2026, the economics have turned decisively against pure-play mining.
According to CoinShares’ latest Bitcoin mining report for Q1 2026, the weighted average cash cost for publicly listed miners to produce one bitcoin reached approximately $79,995 in the previous quarter. With BTC trading near $70,000 (and dipping lower in recent sessions), many operations are running at a loss or barely breaking even. Hashprice has collapsed, older rigs are being powered down, and margins have shrunk to razor-thin levels—sometimes as low as a few hundred dollars per bitcoin mined.
This profitability crunch is accelerating a transformation that has been building for over a year: Bitcoin miners are repositioning themselves as AI and high-performance computing (HPC) infrastructure providers. Their data centers, power contracts, cooling systems, and land holdings—originally built for ASIC miners—are being repurposed or expanded to host GPUs and AI workloads for hyperscalers like Microsoft, Google, and others.
### Why the Pivot Makes Sense (For Now)
AI infrastructure offers operating margins of 80–90%, far more stable and predictable than the volatile revenue from Bitcoin block rewards and transaction fees. Miners already possess key advantages: access to low-cost or stranded energy, industrial-scale facilities, and expertise in managing dense computing environments with heavy power demands.
Cumulative AI and HPC contracts announced across the public mining sector now exceed $70 billion. Notable deals include:
- Core Scientific’s expanded partnership with CoreWeave, valued at over $10 billion.
- TeraWulf’s $12.8 billion in contracted HPC revenue.
- Hut 8’s $7 billion, 15-year lease for AI infrastructure.
- Multiple multi-billion-dollar agreements involving IREN, Cipher Digital (rebranded to emphasize HPC), and others.
Analysts at CoinShares project that AI could account for up to 70% of revenue for many listed miners by the end of 2026, up sharply from around 30% today. Some companies, like Bitfarms (now leaning heavily into AI and even rebranding elements of its identity), have publicly stated they are no longer purely Bitcoin companies.
### Selling the Treasury to Fund the Future
To bankroll this transition, miners are breaking from the long-held “HODL” ethos. Publicly listed miners collectively hold around 121,000 BTC (worth roughly $8–9 billion at current prices), but they have become net sellers.
- Over 15,000 BTC have been liquidated from peak treasury levels in recent months.
- Core Scientific sold ~1,900 BTC in January 2026 for about $175 million and plans to monetize substantially all of its remaining holdings in Q1.
- MARA Holdings sold 15,133 BTC in March for ~$1.1 billion, using proceeds to repurchase debt and gain flexibility for AI/HPC expansion.
- Other examples include Riot Platforms, Cango (which sold thousands of BTC to fund its pivot and even rebranded), Bitdeer (which emptied its treasury), and more.
This selling creates additional supply pressure on Bitcoin markets at a time when prices are already soft, but for the companies involved, it’s a strategic reallocation from a volatile asset to building higher-margin businesses.
### Risks and the Long-Term Outlook
The pivot is not without controversy. Critics argue that miners are trading Bitcoin’s long-term upside and network security contribution for short-term AI hype. If Bitcoin’s price recovers strongly, those who sold heavily may regret it. There are also execution risks: AI contracts depend on timely delivery of power capacity, GPU availability, and demand from big tech, which can be lumpy.
The industry is bifurcating. Some efficient, low-cost miners may stick closer to pure Bitcoin plays. Others are becoming hybrid data center operators. Debt loads are rising for many as they fund expansions via convertibles and notes, adding refinancing risk.
Yet the direction is clear: the infrastructure built for Bitcoin’s proof-of-work is proving highly adaptable to the AI boom. Miners that execute well could evolve from volatile crypto proxies into more stable infrastructure stocks with diversified revenue.
Whether this is a temporary survival tactic or a permanent identity shift will ultimately depend on Bitcoin’s price trajectory and the realized profitability of their AI ambitions. For now, the industry is voting with its capital—and its bitcoin sales—that the future looks brighter in AI data centers than in pure mining alone.
The image attached to the original post captures the essence perfectly: rows of humming ASIC miners in a dimly lit facility, with a technician maintaining the hardware. Soon, many of those racks may house GPUs instead, powering the next wave of artificial intelligence.
This article is for informational purposes only and does not constitute financial advice.

Czar AI dan Crypto Gedung Putih David Sacks mengatakan pada hari Kamis bahwa ia bergabung dengan Dewan Penasihat Presiden tentang Sains dan Teknologi dan meninggalkan peran czar.
WASHINGTON — David Sacks, Czar AI dan Crypto Gedung Putih, mengumumkan pada hari Kamis bahwa ia mengundurkan diri dari posisinya yang terkenal sebagai “czar” untuk mengambil peran baru di Dewan Penasihat Presiden tentang Sains dan Teknologi (PCAST).
Dalam sebuah pernyataan, Sacks mengatakan bahwa langkah tersebut sejalan dengan prioritas pemerintahan untuk mengintegrasikan kebijakan teknologi mutakhir secara langsung ke dalam saluran penasihat tingkat tinggi.

The yield agreement, seen as a step toward finally advancing the stalled market structure bill, hasn't yet fully won industry support.
WASHINGTON — A hard-fought compromise on the long-awaited cryptocurrency market structure legislation has elicited a sharply divided response across the digital asset industry, with key players voicing everything from cautious optimism to outright skepticism.
The agreement, which aims to resolve sticking points around the classification of digital assets as securities or commodities, is being viewed by some as a critical breakthrough that could finally push the stalled bill forward in Congress. However, it has yet to secure broad-based endorsement from the crypto sector, highlighting the deep fractures within what has often been portrayed as a unified industry.
### Mixed Reactions from Industry Leaders
Prominent voices in the crypto space have taken to social media and public statements to weigh in on the development. Supporters argue that the compromise represents a pragmatic step toward regulatory clarity, which many believe is essential for institutional adoption and long-term growth of the sector.
"This is progress, even if imperfect," said one industry executive who requested anonymity due to ongoing negotiations. "We've been waiting years for clear rules of the road. This gets us closer to a framework that distinguishes between decentralized protocols and centralized intermediaries."
Critics, however, contend that the yield agreement concedes too much ground on issues such as decentralized finance (DeFi) oversight and stablecoin regulation. Some fear it could impose burdensome compliance requirements that might stifle innovation, particularly for smaller projects and decentralized applications.
A notable segment of the community has expressed frustration over what they see as a "watered-down" version of earlier proposals. "This isn't the comprehensive market structure bill we needed," tweeted one influential crypto commentator. "It's a patchwork that protects incumbents while leaving retail users and innovators exposed."
### Background on the Market Structure Bill
The cryptocurrency market structure bill has been in development for several years, with multiple iterations failing to gain sufficient traction in Congress. The legislation seeks to establish a clear regulatory regime for digital assets, addressing key areas such as:
- Asset Classification: Clear guidelines on when a digital token qualifies as a security versus a commodity.
- Decentralized Finance (DeFi): Rules governing lending protocols, decentralized exchanges, and yield-generating products.
- Stablecoins: Oversight and reserve requirements for dollar-pegged tokens.
- Market Integrity: Measures to prevent manipulation, fraud, and ensure fair trading practices.
Proponents of the bill argue that without such a framework, the United States risks falling behind global competitors like the European Union (which has implemented MiCA) and Singapore in attracting crypto businesses and talent.
### Path Forward Uncertain
While the yield agreement marks a potential thawing of the legislative stalemate, significant hurdles remain. Lawmakers from both parties continue to debate the scope of the bill, with concerns ranging from investor protection to national security implications of crypto.
Industry groups are expected to ramp up lobbying efforts in the coming weeks as the bill moves through committee stages. Some analysts predict that further amendments may be necessary to bridge the divide between pro-innovation factions and those prioritizing stricter consumer safeguards.
The fractured response underscores a broader reality in the crypto industry: while there is near-universal agreement on the need for regulatory clarity, consensus on the specifics remains elusive.
As one veteran observer put it: "The crypto crowd isn't a monolith. This compromise is a mirror reflecting our own divisions — between maximalists and pragmatists, between those building infrastructure and those focused on financial freedom."
The article will continue to evolve as more details emerge from Capitol Hill and as reactions from major players like Coinbase, Binance.US, and decentralized protocol developers continue to pour in.
Stay tuned for updates as this story develops.

Riding the crypto boom to become one of 2025's hottest stocks, HOOD has shed more than 50% of its value since Bitcoin topped in early October.
Robinhood Markets (NASDAQ: HOOD) announced on March 24 that its board of directors has approved a new $1.5 billion share repurchase program, significantly expanding the company's capacity to buy back its own stock amid a sharp pullback in its share price.
The new authorization replaces prior programs and adds more than $1.1 billion in incremental buyback capacity. Management expects to execute the repurchases over approximately three years, beginning in the first quarter of 2026, though the company is not obligated to purchase any specific number of shares or complete the program within a set timeframe.
The move comes as Robinhood's stock has faced intense pressure in 2026. After more than tripling in value during 2025—fueled by surging cryptocurrency trading volumes and record company performance—HOOD shares have dropped roughly 39% year-to-date and over 50% from their peak since Bitcoin hit its high in early October 2025.
### Strong 2025 Backdrop Meets 2026 Reality
Robinhood rode the 2025 crypto bull run to post record results. The company reported full-year 2025 net revenues of $4.5 billion (up 52% year-over-year) and net income of $1.9 billion, with crypto transaction revenue playing a major role in the surge. Assets under custody reached new highs, and the platform added millions of users drawn to its user-friendly trading experience for stocks, options, and digital assets.
However, the broader crypto market cooled sharply toward the end of 2025 and into 2026. Bitcoin's decline from its early-October peak triggered a broader sell-off in crypto-related stocks, including Robinhood, whose fortunes remain closely tied to retail trading enthusiasm and digital asset volatility.
### Confidence from the Board and Management
In a statement accompanying the 8-K filing, Robinhood CFO Shiv Verma emphasized long-term optimism:
> “Robinhood is a generational company with a massive long-term opportunity. This authorization reflects the confidence of our management team and board in our ability to continue delivering innovative products for customers and creating value for shareholders while returning capital over time.”
The buyback program signals that Robinhood views its current valuation as attractive and believes repurchasing shares will enhance shareholder value by reducing the outstanding share count and potentially boosting earnings per share over time.
Simultaneously, Robinhood expanded its short-term credit facility to $3.25 billion (with the potential to increase to $4.875 billion), further strengthening its financial flexibility.
### Market Reaction
Following the announcement, HOOD shares rose modestly in extended trading, reflecting investor appreciation for the capital return signal even as the broader downtrend persists.
Analysts note that while the buyback provides a floor of support, Robinhood's stock remains highly sensitive to crypto market movements. A sustained recovery in Bitcoin and renewed retail trading activity could help the company regain momentum in the second half of 2026.
Robinhood previously authorized a $1 billion buyback in May 2024 and added $500 million in April 2025, during which it repurchased over 25 million shares at an average price of approximately $45.

Industri kripto mendapat pandangan pertama tentang bahasa legislatif yang tidak akan mengizinkan penghargaan pada saldo stablecoin, dan pendekatan ini dianggap sebagai pembatasan.
WASHINGTON — RUU Kejelasan Pasar Aset Digital yang terhambat lama (umumnya dikenal sebagai RUU Kejelasan) telah mengambil langkah signifikan ke depan dengan bahasa baru tentang penghargaan stablecoin yang secara eksplisit melarang pembayaran untuk sekadar memegang saldo, menurut sumber yang akrab dengan teks draf terbaru.
Kompromi, yang dicapai secara prinsip minggu lalu oleh Senator Angela Alsobrooks (D-MD) dan Thom Tillis (R-NC) dengan dukungan Gedung Putih, menggambar garis yang jelas: imbal hasil pasif pada kepemilikan stablecoin yang tidak aktif dilarang, sementara penghargaan berbasis aktivitas yang terkait dengan penggunaan aktual — seperti pembayaran, transfer, aktivitas platform, atau program loyalitas — tetap diizinkan.

Komisi Sekuritas dan Bursa AS (**SEC**), bekerja sama dengan Komisi Perdagangan Berjangka Komoditas (**CFTC**), telah merilis panduan interpretatif bersama yang penting yang menjelaskan bagaimana undang-undang sekuritas federal berlaku untuk cryptocurrency dan aset terkait. Perkembangan ini, yang diumumkan pada 17 Maret 2026, dan diliput dalam laporan terbaru (termasuk artikel CoinDesk tertanggal 22 Maret 2026), bertujuan untuk mengakhiri bertahun-tahun ketidakpastian regulasi di ruang crypto dengan memberikan kerangka kerja yang lebih jelas untuk menentukan apakah cryptocurrency memenuhi syarat sebagai sekuritas.

Pasar opsi Bitcoin menunjukkan sinyal ketakutan ekstrem di antara para investor, bahkan saat harga spot stabil di sekitar level $70.000. Menurut analisis terbaru dari perusahaan investasi VanEck, premi untuk perlindungan downside—terutama melalui opsi put—telah mencapai titik tertinggi sepanjang masa, mencerminkan kewaspadaan yang meningkat dan posisi defensif di ruang crypto.
Dalam laporan Bitcoin ChainCheck VanEck pertengahan Maret 2026, analis menyoroti bahwa meskipun harga Bitcoin mengkonsolidasikan dekat $70.000 setelah penurunan sekitar 19% dalam rata-rata 30 hari, para trader secara agresif melakukan lindung nilai terhadap penurunan lebih lanjut. Volatilitas yang direalisasikan telah secara signifikan menurun, turun dari sekitar 80 menjadi sedikit di atas 50 selama sebulan terakhir, menunjukkan pengurangan fluktuasi harga harian dan pendinginan spekulasi terleveraj di pasar futures. Tingkat pendanaan dalam futures perpetual juga telah menurun dari 4,1% menjadi 2,7%, menunjuk pada leverage bullish yang kurang agresif.

Sebuah surat dari Think Big PAC memberitahu pemilih bahwa kandidat DPR AS dari Partai Demokrat pernah mendapatkan $100.000 dalam dukungan dari mantan kepala bursa global gagal FTX.
Distrik Kongres ke-12 New York, sebuah PAC pro-AI sedang memanfaatkan hubungan dengan pendiri FTX yang terdiskredit untuk menyerang salah satu pesaing.
Sebuah surat dengan kata-kata tajam yang didistribusikan oleh Think Big PAC—sebuah afiliasi dari kelompok advokasi pro-AI yang lebih luas Leading the Future—menargetkan Anggota Majelis Negara Bagian New York Alex Bores, seorang kandidat Demokrat dalam perlombaan tersebut. Surat tersebut menyoroti bahwa Bores sebelumnya menerima lebih dari $100.000 dalam pengeluaran independen dan dukungan dari entitas yang terhubung dengan jaringan politik Sam Bankman-Fried selama siklus pemilihan 2022.