FINANCE

STANDARD CHARTERED SUED FOR $2.7 BILLION OVER ALLEGED ROLE IN 1MDB FRAUD

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Standard Chartered PLC is facing a $2.7 billion lawsuit in Singapore, filed by liquidators of Malaysia's 1MDB fund. The plaintiffs, linked to three companies in liquidation, claim the UK-based bank facilitated over 100 intrabank transfers between 2009 and 2013 that enabled the concealment of stolen public funds. According to Bloomberg and Reuters, the transactions reportedly resulted in financial losses exceeding $2.7 billion, including S$20 million ($15.7 million) in public funds.

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THE $1.5 BILLION CRYPTO HEIST: HOW NORTH KOREAN HACKERS PULLED OFF THE BIGGEST THEFT IN HISTORY

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In a cyber heist that stunned the global financial community, North Korean hackers have pulled off the biggest cryptocurrency theft in history, stealing a staggering $1.5 billion from Bybit, the world's second-largest crypto exchange.

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JPMORGAN MAKES BITCOIN CHANGE, JAMIE DIMON GREENLIGHTS CLIENT ACCESS DESPITE LONGSTANDING CRITICISM

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JPMorgan Chase has reversed course on Bitcoin. The nation's largest bank will now let clients buy the cryptocurrency, marking a significant turn for CEO Jamie Dimon, once its most vocal critic. Dimon made the announcement on May 19, during the bank's annual investor day, saying, "We are going to allow you to buy it. We're not going to custody it. We're going to put it in statements for clients."

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CHINA'S DEEPSEEK SHAKES US STOCK MARKET

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The rapid adoption of DeepSeek, a budget-friendly chatbot from a Chinese AI company, has triggered a significant reaction in the US stock market. The app's swift rise to the top of free downloads, overtaking competitors like Chat within a week of its public release, has sparked concern in Silicon Valley. Shares of major AI-related tech companies, including Nvidia, Microsoft, and Meta, saw substantial declines on Monday.

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COINBASE MAKES A $2.9 BILLION ACQUISITION OF DERIBIT

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In a landmark move that signals consolidation in the cryptocurrency industry, Coinbase announced Thursday its acquisition of derivatives exchange Deribit for $2.9 billion. The deal represents one of the largest transactions in crypto history and strategically positions Coinbase to expand its footprint in the lucrative options trading market.

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BITCOIN HITS NEW RECORD OF $106,000

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Bitcoin has soared to a new all-time high, surpassing $106,000. This remarkable increase continues a rally that has seen the cryptocurrency's price climb over 50% following Donald Trump's victory in the 5 November election.

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TRUMP CRYTO RESERVE ANNOUNCEMENT SPURS A LARGE MARKET SURGE

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U.S. President Donald Trump announced the inclusion of five digital assets in a proposed strategic reserve. The selected cryptocurrencies—Bitcoin, Ethereum, XRP, Solana, and Cardano—saw their market values soar within hours of the revelation. Bitcoin alone surged over 11% to $94,164, while Ethereum jumped 13% to $2,516, according to data from CoinGecko. The overall crypto market cap spiked by over $300 billion in response.

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US BITCOIN HACKER GETS 5-YEAR SENTENCE IN $7.6B CRYPTOCURRENCY THEFT

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A federal judge sentenced Ilya Lichtenstein to five years in prison Thursday for orchestrating one of history's largest cryptocurrency heists, involving bitcoin worth over $7.6 billion at current prices.

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