<h2>Bitcoin Treasury Moves Gain Momentum as Lawsuit Casts Shadow Over Strategy</h2>Strategy, formerly known as MicroStrategy, made headlines again after disclosing the&nbsp;<a href="https://x.com/Strategy/status/1924435820947058877">purchase</a> of 7,390&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a> for $764.9 million between May 18 and 19, 2025. The acquisition, made at an average price of roughly $103,498 per&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a>, pushes Strategy’s total holdings to a staggering 576,230 BTC.&nbsp;<figure class="image"><img alt="Screenshot_6.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Screenshot_6_ddae06ac00.png"><figcaption>Source: X</figcaption></figure>Acquired at a cumulative cost of $40.18 billion, the company's average acquisition price now stands at $69,726 per coin. Based on current valuations, the&nbsp;<a href="https://coin360.com/">crypto price</a> index values Strategy’s stash at more than $59.2 billion, representing unrealized gains of approximately $19.2 billion—up 47% overall. Year-to-date, the firm’s Bitcoin position has returned 16.3%, solidifying its position as the dominant corporate player in Bitcoin accumulation.Despite mounting pressure from a class-action lawsuit, Strategy’s Executive Chairman Michael Saylor reaffirmed his long-term conviction on Bitcoin via a post on X, calling for early adoption before a supposed supply crunch by 2035.&nbsp;<figure class="image"><img alt="Screenshot_8.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Screenshot_8_5a097dad20.png"><figcaption>Source: X</figcaption></figure>The optimism comes as the firm faces serious legal headwinds. A&nbsp;<a href="https://assets.contentstack.io/v3/assets/bltf8d808d9b8cebd37/bltfba7ca0af6a9f6a8/682a9fc86555216ab73157fb/form-8-k_05-19-2025.pdf">class-action suit</a> filed in the Eastern District of Virginia targets Saylor, President and CEO Phong Le, and CFO Andrew Kang. Plaintiffs allege violations of federal securities laws, including Section 10(b), Rule 10b-5, and Section 20(a) of the Securities Exchange Act.&nbsp;The complaint accuses the company of misrepresenting Bitcoin’s profitability, minimizing volatility risks, and issuing misleading financial statements. It specifically references Strategy’s recent $5.91 billion quarterly loss disclosure on April 7, which triggered an 8.67% drop in its share price. The suit leans heavily on the updated crypto asset reporting rules under Accounting Standards Update 2023-08.Even with the legal battle intensifying, market reaction suggested resilience. Strategy’s stock, MSTR, rose by $4.78 or 1.20% on May 19 to close at $404.58. The uptick followed an early 2% dip in pre-market trading, highlighting investor confidence amid broader macro challenges, such as Moody’s U.S. credit rating downgrade and surging 30-year Treasury yields. Analysts suggest the legal overhang is being overshadowed by the firm’s strong Bitcoin exposure and perceived long-term positioning.Meanwhile, Tokyo-based Metaplanet is stepping into Strategy’s playbook with increasing intensity. The company confirmed it&nbsp;<a href="https://x.com/Metaplanet_JP/status/1924300151025209474">purchased</a> 1,004 BTC for $104.8 million this month, bringing its total holdings to 7,800 BTC. At a cost basis of $91,340 per coin, Metaplanet now sits on an unrealized gain of about $90.9 million, or 12.7%.&nbsp;<figure class="image"><img alt="Screenshot_7.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Screenshot_7_097d748903.png"><figcaption>Source: X</figcaption></figure>The firm has set an ambitious goal to accumulate 10,000 BTC by year-end, and appears to be on track. However, its returns have tapered: down from 309.8% in Q4 2024 to 95.6% in Q1 2025, and currently at 47.8% from April 1 to May 19, based on preliminary numbers. Still, the company’s bold strategy continues to draw attention, mirroring Strategy’s approach in a region hungry for digital asset exposure.Zooming out, corporate Bitcoin adoption is accelerating rapidly. Public and private firms now hold 1,082,164 BTC, worth approximately $110.8 billion, according to current coin&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> estimates. This accounts for around 5.5% of Bitcoin’s total circulating supply, or 6.25% when excluding dormant and lost coins. Strategy alone controls roughly 2.74% of Bitcoin’s entire supply. Analysts describe this stage as the “second phase” of the technology adoption curve—defined by institutional alignment—comparable to the adoption trajectory of mobile technology and the internet.<figure class="image"><img alt="Screenshot_9.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Screenshot_9_f98d38b95b.png"><figcaption>Source: BitcoinTreasuries</figcaption></figure>The corporate crypto price index is gaining diversity beyond Strategy and Metaplanet. Semler Scientific currently holds 3,808 BTC valued at $390.1 million.&nbsp;<a href="https://coin360.com/coin/tether-usdt">Tether</a> has expanded its reserves to 100,521 BTC, worth over $10.3 billion—a 25% increase from late 2024. Other firms have seen significant market responses to their Bitcoin strategies. Top Win, recently rebranded as AsiaStrategy, witnessed its stock surge more than 60% after revealing a BTC-centric initiative with Sora Ventures. A Bahrain-based catering company with a modest market cap of $24.2 million joined the trend through a partnership with 10X Capital. Additionally, XXI, led by Jack Mallers, disclosed a sizable holding of 31,500 BTC, valued at $3.2 billion.Reaction to Strategy’s legal trouble has been mixed. Notably, pseudonymous developer 0xngmi from DeFiLlama dismissed the lawsuit’s merit, stating that investors should understand the firm is a “leverage on Bitcoin” play. He argued that the risks were well-telegraphed and the allegations of misrepresentation were unfounded. Nonetheless, the legal proceedings could become a test case for how crypto-heavy public companies are expected to navigate disclosure standards under evolving accounting frameworks.The convergence of bullish market action, growing corporate Bitcoin treasuries, and mounting legal scrutiny sets the stage for a pivotal chapter in Bitcoin’s mainstream adoption. As the coin market cap surges and more firms declare exposure, the broader implications for corporate finance and regulatory oversight remain front and center.This article has been refined and enhanced by ChatGPT.

Robot hoisting Bitcoin orb in crypto vault

Robot hoisting Bitcoin orb in crypto vault.webp

Strategy and Metaplanet Push Corporate Bitcoin Holdings Past $1 Billion Despite Legal Blowback

<h2>Multiple Class Actions Allege Security Negligence and Data Misuse</h2><a href="https://coin360.com/review/coinbase">Coinbase</a> is under intense legal scrutiny after revelations of a major&nbsp;<a href="https://coin360.com/news/coinbase-data-breach-customer-info-ransom-demand">data breach</a>, insider corruption, and alleged biometric privacy violations sparked at least six class-action lawsuits between May 13 and 16, 2025. The breach, now confirmed by multiple filings, involved unauthorized access to user data through bribery of India-based customer support contractors.&nbsp;Hackers reportedly paid Coinbase agents for system access, enabling the theft of personally identifiable information such as email addresses, phone numbers, masked Social Security numbers, and transaction histories. Although private keys and passwords were not exposed, plaintiffs argue the compromised data poses severe, lifelong risks of identity theft and fraud.Court documents reveal Coinbase refused to pay a $20 million ransom demanded by the perpetrators. Instead, the exchange announced a matching $20 million bounty to incentivize leads that could help identify and prosecute the attackers. Critics argue the company’s response was sluggish and disorganized.&nbsp;According to plaintiffs, users weren’t notified promptly, and Coinbase failed to offer identity protection or actionable steps in the immediate aftermath. The lawsuits collectively describe Coinbase’s breach response as “fragmented and uncoordinated,” with one suit, led by Paul Bender in New York, citing the absence of even basic data protection protocols.On May 19, Bloomberg&nbsp;<a href="https://www.theblock.co/post/354935/doj-launches-criminal-investigation-into-coinbase-cyberattack-bloomberg">reported</a> that Coinbase is under investigation by the U.S. Department of Justice following the cyberattack. Coinbase has reported the incident to law enforcement and is cooperating fully, with Chief Legal Officer Paul Grewal expressing support for criminal charges against the attackers.&nbsp;Further class actions filed by users in Maine and Texas claim Coinbase had grossly underinvested in cybersecurity infrastructure, did not properly train its employees, and failed to monitor its outsourced support staff. These allegations were echoed in a separate California lawsuit by Rosemary Ortiz, who argued the company unnecessarily retained outdated personal data that should have been deleted or encrypted—thereby amplifying the breach’s damage. Plaintiffs from all suits emphasized that while direct financial harm has not yet been reported, the leaked data places users at ongoing risk, forcing them to bear the cost of continuous credit monitoring and financial protection.Coinbase acknowledged the incident in a public statement, pledging “full transparency,” and disclosed to the U.S. Securities and Exchange Commission that it has set aside between $180 million and $400 million to cover possible reimbursements and mitigation efforts.&nbsp;As part of its remediation plan, Coinbase has terminated the involved Indian contractors and referred them for criminal prosecution. The firm has also implemented enhanced&nbsp;<a href="https://coin360.com/coin/space-id-id">ID</a> verification checks, scam-awareness prompts, and bolstered its internal systems to detect insider threats more efficiently. Plans are underway to open a new, U.S.-based customer support center.Simultaneously, a separate federal&nbsp;<a href="https://www.courtlistener.com/docket/70255932/1/bernstein-v-coinbase-global-inc/">class-action lawsuit</a> was filed in Illinois on May 13, targeting Coinbase’s biometric data practices. Plaintiffs Scott Bernstein, Gina Greeder, and James Lonergan accuse the company of violating the state’s Biometric Information Privacy Act (BIPA) through its Know Your Customer (KYC) process. The suit alleges Coinbase collected users’ facial biometrics from selfies and government-issued IDs without obtaining explicit written consent, as required under BIPA. Furthermore, the company allegedly failed to notify users about how their data would be stored, shared, or ultimately destroyed.The biometric data was reportedly processed by third-party providers—Jumio, Onfido, Au10tix, and Solaris—acting under Coinbase’s direction to extract and analyze facial geometry. Plaintiffs claim Coinbase facilitated indiscriminate biometric harvesting and unlawfully shared this data without proper user authorization or public disclosure. The lawsuit seeks statutory damages of $5,000 for each intentional or reckless violation and $1,000 for each negligent breach, alongside court orders to change Coinbase’s data handling policies and cover litigation costs.More than 10,000 users have filed arbitration claims against Coinbase over the biometric issue through the American Arbitration Association. Many of these cases were dismissed after Coinbase allegedly refused to pay required arbitration fees, further escalating criticism of the platform’s handling of user grievances. As legal battles mount on multiple fronts, the exchange now faces significant reputational and financial exposure amid intensifying regulatory and user backlash.This article has been refined and enhanced by ChatGPT.

Robot extracts biometric [XXX] fragments from glowing translucent orb

Robot extracts biometric [XXX] fragments from glowing translucent orb.webp

Coinbase Faces Legal Firestorm Over Data Breach, Insider Bribery, and Biometric Privacy Violations

Coin360 weekly crypto news, cryptocurrency updates, market movement

Coin360 weekly crypto news

Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | May 11 - May 17, 2025

<h2>Gibraltar Introduces World's First Regulatory Framework for Crypto Derivatives Clearing and Settlement</h2>The Gibraltar government is establishing the world's first regulatory framework for the clearing and settlement of crypto derivatives in collaboration with crypto exchange&nbsp;<a href="https://coin360.com/exchange/bullish">Bullish</a>. This initiative aims to enhance market integrity and reduce counterparty risks, allowing virtual asset derivative contracts to be managed by recognized clearing houses. Developed with the Gibraltar Financial Services Commission over the past six months, the framework adapts traditional financial regulations for the virtual asset sector. The new rules will facilitate the establishment of independent clearing houses, ensuring improved transparency and capitalization, thereby addressing potential failures in trade settlement commonly faced by unregulated exchanges.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Thailand to Issue $150M G-Tokens to Boost Digital Investment and Test Market</h2>Thailand's Ministry of Finance plans to issue 5 billion baht ($150 million) in digital investment tokens, known as G-Tokens, within two months to raise funds and test the market. Finance Minister Pichai Chunhavajira stated that investors can expect higher returns than traditional bank deposits, which currently offer 1.25%-1.5% interest rates. This initiative follows a cabinet endorsement and aligns with a broader strategy to enhance the country's crypto landscape, including a tax exemption for crypto earnings and the approval of&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a>&nbsp;<a href="https://coin360.com/coin/usd-coin-usdc">USDC</a> and&nbsp;<a href="https://coin360.com/coin/tether-usdt">USDT</a> for trading on digital exchanges.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Panama City Mayor Considers Bitcoin Reserve After Meeting El Salvador’s Bitcoin Leaders</h2>Panama City Mayor Mayer Mizrachi hinted at establishing a city-level&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> reserve following a meeting with El Salvador’s Bitcoin leaders, Max Keiser and Stacy Herbert. His cryptic post on May 16 preceded the Bitcoin 2025 conference where he is set to speak. Panama recently approved using cryptocurrency for public payments, including taxes and fines. Mizrachi would need to collaborate with the National Assembly for federal legislation on a Bitcoin reserve. Notably, El Salvador has a Bitcoin reserve of 6,179&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a>, valued at approximately $640 million, and aims to leverage renewable energy for Bitcoin mining in both countries.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>OCC Authorizes National Banks to Enter Crypto Markets, Responding to Growing Demand</h2>On May 13, 2025, the OCC&nbsp;<a href="https://x.com/USOCC/status/1922291663822582010">announced</a> that national banks are authorized to engage in diverse crypto-asset activities, removing previous regulatory ambiguities. This policy shift, aligned with the Federal Reserve's recent guidance changes, allows banks to offer services like crypto custody and trading. Approximately 55 million Americans (21% of adults) own crypto, highlighting growing demand. While the U.S. banking system is poised for digital asset integration, implementation challenges include compliance with AML regulations and lack of FDIC insurance for digital assets. This shift represents a significant evolution in U.S. banking policy toward crypto, fostering competition with fintech firms.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Dubai Partners with Crypto.com to Facilitate Digital Asset Payments for Government Fees</h2>Dubai has partnered with&nbsp;<a href="https://coin360.com/exchange/crypto_com">Crypto.com</a> to accept digital asset payments for government fees, advancing its cashless strategy. The Department of Finance (DOF) aims for over 90% of transactions to be cashless by next year. Upon agreement finalization, customers can use Crypto.com’s digital wallets to pay fees, with the platform converting crypto into Emirati dirhams. The emirate is recognized as a crypto-friendly hub, preparing to host&nbsp;<a href="https://coin360.com/review/binance">Binance</a>&nbsp;<a href="https://coin360.com/glossary/blockchain">Blockchain</a> Week in December. DOF’s executive director emphasizes the partnership's role in enhancing regulatory frameworks, customer trust, and economic growth, solidifying Dubai's position in financial technology and global innovation.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Ukraine and Binance Team Up to Establish National Bitcoin Reserve Amid Ongoing Economic Challenges</h2>Ukraine is drafting a policy to establish a national Bitcoin reserve in partnership with Binance, aimed at strengthening its economy amid ongoing financial pressure from the war with Russia. A draft bill, nearing completion, will create a legal framework for holding Bitcoin as a strategic asset, reflecting the country’s commitment to cryptocurrency adoption. Binance's support may lead to significant regulatory changes, enhancing Ukraine's crypto landscape. With Bitcoin prices around $103,000, this initiative seeks to diversify Ukraine's financial resources and attract global investment, positioning the country as a potential leader in cryptocurrency integration in Eastern Europe.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>France Enhances Security for Crypto Entrepreneurs Amid Rising Kidnappings</h2>French law enforcement is implementing enhanced security measures for crypto entrepreneurs and their families due to a rise in crypto-related kidnappings. Key measures include priority access to emergency police lines, home security assessments, and safety briefings. Interior Minister Bruno Retailleau initiated these steps following three kidnapping incidents this year, with the latest attempt occurring on May 13. Since 2014, there have been over 150 crypto-related robberies or kidnappings, with 23 incidents in 2025 alone. Experts advise caution in sharing personal information on social media to mitigate risks and discourage peer-to-peer trades with strangers.This article has been refined and enhanced by ChatGPT.

Robot holding Ethereum token, calm watercolor tones, Ukraine reserve contemplation

Robot holding Ethereum token, calm watercolor tones, Ukraine reserve contemplation.webp

This Week’s Global Policy: Gibraltar’s Crypto Framework, Dubai’s Digital Payment Push

<h2>SEC Investigates Coinbase Over Potential User Count Misstatements</h2>The SEC is investigating&nbsp;<a href="https://coin360.com/review/coinbase">Coinbase</a> for possibly&nbsp;<a href="https://coin360.com/news/coinbase-data-breach-customer-info-ransom-demand">overstating user numbers</a> in past filings, focusing on its "verified user" metric that once exceeded 100 million but was ceased in reporting. The inquiry, stemming from the Biden administration, assesses whether this count misled investors, despite Coinbase acknowledging that it could inflate unique customer figures due to multiple accounts. Coinbase has replaced this metric with “monthly transacting users” for better insights. Meanwhile, they face a $400 million exposure from data breaches and are preparing for an S&amp;P 500 debut, even as the SEC maintains a focus on corporate disclosure enforcement.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Judge Denies SEC and Ripple's Request for Indicative Ruling in Legal Dispute</h2>U.S. District Court Judge Analisa Torres has denied the SEC and&nbsp;<a href="https://coin360.com/coin/xrp-xrp">Ripple</a>'s joint request for an indicative ruling on their settlement agreement in a prolonged legal dispute, labeling it "procedurally improper" due to ongoing appeals. The parties sought this ruling to lift an August 2024 injunction against Ripple and reduce penalties from $125 million to $50 million. Both Ripple and the SEC aimed to solicit a limited remand from the appeals court to finalize their agreement and withdraw cross-appeals. Ripple's Chief Legal Officer, Stuart Alderoty, reaffirmed that the order does not alter Ripple’s prior legal victories.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>DOJ Moves Forward with Tornado Cash Co-Founder Roman Storm's Trial, Drops Some Charges</h2><a href="https://coin360.com/coin/tornado-cash-torn">Tornado Cash</a> co-founder Roman Storm's trial is set for July 14, 2025, after the U.S. Attorney's Office for the Southern District of New York dropped part of the charges against him. Storm faces charges related to money laundering, unlicensed money transmitting, and conspiracy to violate the International Emergency Economic Powers Act. The DOJ's approach has shifted under the Trump administration, focusing on harm to investors and crimes rather than regulatory violations. Critics, including Peter Van Valkenburgh of Coin Center, argue that the remaining charges are legally ambiguous and should also be dismissed, citing the principle of lenity.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Crypto CEO's Family Escapes Kidnapping Attempt in Paris Amid Rising Threats</h2>A kidnapping attempt occurred in central Paris targeting the daughter of a crypto CEO and her 2-year-old child on May 13, 2025. Three masked assailants tried to force them into a van, but the child's father intervened, preventing the abduction. The motive is suspected to be financially driven due to their crypto connections, part of a disturbing trend of rising crypto-related kidnappings globally. In France, at least three such incidents have been reported this year. Law enforcement agencies warn that organized criminals are increasingly targeting individuals with substantial digital asset holdings.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Telegram Closes Thousands of Channels Linked to $8.4B Xinbi Crypto Crime Marketplace in Colorado</h2>Telegram has shut down thousands of channels linked to the Xinbi Guarantee, a Colorado-based crypto marketplace suspected of facilitating over $8.4 billion in illicit transactions using&nbsp;<a href="https://coin360.com/coin/tether-usdt">Tether</a>'s&nbsp;<a href="https://coin360.com/coin/tether-usdt">USDT</a> since 2022. The U.S. Treasury designated Huione Group, another major marketplace, as a primary money laundering concern. Xinbi and Huione are responsible for a combined $35 billion in illicit activities, including money laundering and scams. Xinbi offers services such as fake IDs and satellite internet equipment used by scam operations. The marketplace's incorporation in the U.S. adds a layer of perceived legitimacy, despite its ties to Southeast Asian cybercrime.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Haowang Guarantee, World's Largest Illicit Marketplace, Shuts Down After Telegram Intervention</h2>Haowang Guarantee, the world's largest illicit online marketplace, has announced its closure following a crackdown by Telegram, which removed thousands of related channels. Processing over $27 billion in USDT transactions, Haowang primarily catered to Southeast Asian customers, including crypto scammers and illicit actors. It utilized USDH, a stablecoin issued by the Huione Group, to facilitate transactions and evade sanctions. The Treasury Department's FinCEN identified Huione Group as operating a major money laundering enterprise, with at least $4 billion in illegal proceeds linked to North Korean cyber crimes. Telegram’s actions also impacted Xinbi Guarantee, another illicit platform.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Twelve Charged in $263M Crypto Racketeering Scheme; Suspects Lived Lavishly on Stolen Funds</h2>Federal prosecutors have charged 12 individuals in a crypto racketeering scheme that allegedly stole over $263 million. Arrests occurred in California, while two suspects reside in Dubai. The defendants face multiple charges including racketeering conspiracy and money laundering. The scheme, active from October 2023 to March 2025, began through online gaming friendships and involved sophisticated methods of theft like hacking and phishing. The lavish lifestyle funded by stolen funds included extravagant nightclub expenses and luxury cars. Notably, the enterprise continued operations even during arrests, with one suspect coordinating activities from pretrial detention. The investigation is ongoing.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Alabama Man Sentenced to 14 Months for Hacking SEC Account to Post False Bitcoin ETF Approval</h2>Eric Council Jr., a 26-year-old from Alabama, was sentenced to 14 months in prison for hacking the SEC's social media account to post a false announcement about the approval of spot bitcoin ETFs. This occurred just before the SEC's official approval in January 2024, causing bitcoin prices to surge by over $1,000. He pleaded guilty to conspiracy to commit aggravated identity theft and access device fraud in February. U.S. Attorney Jeanine Ferris Pirro emphasized the harm his actions caused to market integrity, warning that such schemes threaten financial security and that perpetrators will face legal consequences.This article has been refined and enhanced by ChatGPT.

Robot trapped in Telegram bubble, floating criminal masks, retro-futurist

Robot trapped in Telegram bubble, floating criminal masks, retro-futurist.webp

Orders & Courts This Week: SEC Probes Coinbase, Ripple Settlement Denied

<h2>Global Football Body Prepares Migration of FIFA Collect to In-House Network with Broader Ecosystem Support</h2>FIFA is officially parting ways with the&nbsp;<a href="https://coin360.com/coin/algorand-algo">Algorand</a> blockchain as it prepares to migrate its digital collectibles platform, FIFA Collect, to a new proprietary network built to support the&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a><a href="https://coin360.com/glossary/ethereum-virtual-machine"> Virtual Machine</a> (<a href="https://coin360.com/glossary/ethereum-virtual-machine">EVM</a>). The update, quietly published on April 30 through the&nbsp;<a href="https://collect.fifa.com/migration-faq?referrer=walix">FIFA Collect FAQ</a> page, marks a notable shift in strategy as the global football authority deepens its commitment to&nbsp;<a href="https://coin360.com/glossary/web3-companies-projects">Web3</a> and positions itself for broader ecosystem interoperability.The migration signals a clear departure from Algorand-based infrastructure, as FIFA confirmed that wallets like Pera, Defly, and others tied to that network will no longer be supported. Instead, users will be able to access FIFA Collect through&nbsp;<a href="https://coin360.com/review/metamask">MetaMask</a> and other EVM-compatible wallets that support WalletConnect. Although no firm date has been announced, the transition is not expected to occur before May 20, and FIFA has pledged to release additional details as the migration nears.FIFA Collect has become a cornerstone of the organization’s digital fan engagement efforts, offering collectible&nbsp;<a href="https://coin360.com/glossary/non-fungible-tokens">NFTs</a> tied to iconic football tournaments and unlocking access to exclusive real-world events. Recent updates to the platform introduced limited-edition bundles that include perks such as VIP entry to select matches, reflecting an ongoing push to bridge the digital and physical football experience.By moving to an EVM-compatible blockchain, FIFA aims to improve&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a> interoperability and expand cross-chain compatibility. The football governing body described the move as a foundational step toward scaling the platform and enhancing its digital engagement capabilities. Officials noted that the new chain will deliver faster performance, support for future feature rollouts, and a more robust framework to accommodate long-term development.FIFA also emphasized that while the underlying technology will evolve, the user experience will remain familiar to existing fans and collectors. The transition is expected to bring gradual improvements as new features and tools are introduced over time. FIFA said it plans to disclose more technical information about the new network in the coming weeks.This article has been refined and enhanced by ChatGPT.

EVM robot assembles blockchain puzzle above tokenized football pitch

FIFA Drops Algorand, Plans Launch of EVM-Compatible Blockchain for NFT Platform

Global Football Body Prepares Migration of FIFA Collect to In-House Network with Broader Ecosystem Support

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Strategy and Metaplanet Push Corporate Bitcoin Holdings Past $1 Billion Despite Legal Blowback

Coinbase Faces Legal Firestorm Over Data Breach, Insider Bribery, and Biometric Privacy Violations

Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | May 11 - May 17, 2025

This Week’s Global Policy: Gibraltar’s Crypto Framework, Dubai’s Digital Payment Push

Orders & Courts This Week: SEC Probes Coinbase, Ripple Settlement Denied