Xangle Joins Coreum Mainnet as Validator

Artificial intelligence-driven education technology firm, Genius Group, has announced a plan to buy Bitcoin from the proceeds of damages that the company is pursuing through the courts. In a press release published to the Singapore-headquartered company’s website on June 26, it outlined that the firm’s Board of Directors has approved a distribution plan that would see any potential damages received from litigation that Genius Group is currently embroiled in, divided equally for distribution to shareholders and for the purchase of Bitcoin for the company’s Bitcoin treasury.Photo by Kanchanara on UnsplashUp to $1 billion in potential damagesGenius Group CEO, Roger Hamilton, commented on the matter, stating:“We are seeking combined damages of over $1 billion. As both lawsuits are being pursued by the Company to recover damages caused by third parties directly to our shareholders, the Board believes that 100% of any proceeds from the successful outcome of these cases should be directly distributed or reinvested for the benefit of shareholders.” On X, Hamilton outlined that there’s no guarantee with regard to how much the company recovers through litigation. However, he added that if justice prevails and the company is awarded $1 billion in damages, that would equal a $7 dividend per share for shareholders and the addition of 5,000 BTC to the firm’s Bitcoin treasury. Last month, the company provided an update on a lawsuit it has taken under the Racketeer Influenced and Corrupt Organizations (RICO) Act. Initially, $450 million in damages had been pursued but Genius Group amended the lawsuit, raising its claim to $750 million.  The lawsuit is being taken against Peter Ritz and Michael Moe as the controlling officers and directors of LZGI International, and against Michael Carter and John Clayton, in the United States District Court, Southern District of Florida. The company alleges that the defendants attempted to defraud Genius Group.  ‘Bitcoin First’Genius Group announced its “Bitcoin First” approach, and the launch of a Bitcoin treasury in November 2024, getting started with an initial purchase of 110 BTC valued at $10 million at that time. In April 2025, a New York court prohibited the company from selling stocks in order to fund the purchase of Bitcoin. Those court-imposed funding restrictions led to the firm selling off a small proportion of the overall Bitcoin that it was holding.  Prior to that prohibition on the purchase of Bitcoin being imposed, Genius Group had expressed the aspiration to build up its Bitcoin reserve to a value equivalent to $100 million. Wading further into the Bitcoin space, the firm acquired blockchain learning platform, XD Academy, in December 2024. On May 22, Genius Group announced that the U.S. Court of Appeals had overturned the ban imposed on the company. With that, it increased its Bitcoin holdings by 40%. As of June 17, the company held 100 BTC, valued at around $10 million. The firm plans to bring forward another lawsuit “alleging naked short selling and evidence of spoofing against certain parties,” with damages being pursued in the region of $250 million. Commenting on the coming of age of Bitcoin and the pursuit of a Bitcoin treasury strategy back in November 2024, Hamilton stated that “we're living in a unique moment in history - one most public companies will miss.” 

JD.com, also known as JINGDONG, a NASDAQ-listed Chinese e-commerce giant, is understood to be making plans to acquire stablecoin licensing in key international markets.  According to Chinese news site, Guancha.cn, Richard Liu, the founder of JD.com, which recorded revenues of $41.5 billion in Q1 2025, outlined details regarding the company’s stablecoin plans in a press briefing held in Beijing on June 17. Liu stated: "We hope to apply for stablecoin licenses in all major countries with sovereign currencies. With these licenses, our goal is to enable global foreign exchange transactions, starting with business-to-business payments."Photo by Shutter Speed on UnsplashReducing costs & settlement timeThe JD.com founder added that using stablecoins, the company “can reduce payment costs by 90% and complete transactions within 10 seconds,” while going on to point out that payments made by way of the traditional SWIFT financial messaging system take up to four working days to settle. While JD.com plans to commence with a utilization of stablecoins for business-to-business transactions, Liu said, “We hope that one day, people around the world will be able to use JD’s digital currency for global payments.” JD.com’s move towards the use of stablecoins follows a similar step taken by Ant Group, an affiliate company of Chinese e-commerce rival, Alibaba Group. It emerged last week that subsidiary company Ant International intends to apply for stablecoin licensing in Hong Kong, Singapore and Luxembourg. Additionally, Ant Digital Technologies, another Ant Group subsidiary, is also planning on applying for a stablecoin license in Hong Kong, once the Chinese autonomous territory rolls out its stablecoin regulation this summer. Stablecoin sandbox participantWhile JD.com has now announced its intentions with regard to the use of stablecoins, it has not as yet fully deployed its own token. However, JD Coinlink, a subsidiary company under its JD Technology arm, recently launched the second testing phase for a Hong Kong dollar (HKD)-pegged stablecoin.  The project first announced its intentions to issue a HKD-pegged stablecoin called the “JD Stablecoin,” back in June 2024. At that time, it asserted that reserves would be composed of highly liquid and credible assets, with those funds being regularly audited and held independently via licensed financial institutions.  Last July, the Hong Kong Monetary Authority (HKMA) launched a regulatory sandbox for stablecoin issuers with JD Coinlink joining Animoca Brands, Standard Chartered and Hong Kong Telecommunications as participants. The sandbox allows participants to test both the issuance and the use of stablecoins for a variety of use cases including payments, supply chain management and capital markets. Hong Kong has set Aug. 1 as the effective date for its Stablecoin Ordinance, which will enable certain stablecoins to be issued without a license when offered to professional investors, while a stablecoin must be licensed if offered to a retail market participant. JD.com has developed its own proprietary blockchain, Zhizhen Chain, with that network already accounting for $7 billion in supply chain finance-related transactions. KuCoin CEO BC Wong commented on JD.com’s stablecoin plans, stating that the development is a “big signal,” while noting that in the United States, the GENIUS Act, legislation concerned with the issuance and exchange of stablecoins, has just been passed by the U.S. Senate.

Tel Aviv-based cryptocurrency accounting and taxation reporting platform TRES has successfully raised $11 million in a funding round led by Faction Ventures, with participation from New Form, Boldstart Ventures, Cyber Fund and Ambush Capital.Photo by Markus Winkler on Unsplash Sustained investor buy-inThe firm announced this latest financing round on its website on Wednesday. It brings TRES’s total funding to $18.6 million. This recent instance of funding comes on the heels of TRES’s previous success in securing $7.6 million in seed funding in September 2022. That round was led by Boldstart Ventures and Alchemy Ventures. The diverse participation included F2, New Form, Kenetic Capital, Blockdaemon Ventures and Mantis. With Miami-based Boldstart Ventures being a key investor in both funding rounds, Boldstart partner Shomik Ghosh took to social media on Wednesday to comment on this latest development, stating: “The Tres team and founders @TalZackonand @eilonlotem embody perseverance more than anyone I’ve ever met[.] So proud to work with you guys and learn how to handle yourselves in stressful situations taking care of family, friends, colleagues, and country[.]” $19B client baseTRES currently serves a client base with combined assets valued at $19 billion, offering comprehensive solutions to manage, monitor and reconcile digital asset activities. The platform supports over 100 Layer 1 and Layer 2 blockchains, including popular ones like Bitcoin, Ethereum, Solana and Avalanche. Notably, TRES has ambitious plans to continually expand its supported blockchains, aiming to introduce support for “new blockchains every week,” according to a recent announcement. As the cryptocurrency industry witnesses increased institutional adoption, there is a growing demand for sophisticated accounting and taxation reporting tools, mirroring those available in traditional finance. TRES is working towards positioning itself to address this need by providing a comprehensive solution for firms to gain a “full and accurate picture across all of their Web3 financial activity,” stated Tal Zackon, co-founder and CEO of TRES. Zackon emphasized the importance of compliance across accounting, audit and reporting functions, asserting that TRES facilitates an easy path for customers to navigate these regulatory landscapes. The Series A funding round, led by Faction Ventures, signifies TRES’s commitment to further developing its platform to meet the evolving needs of the crypto industry. Optimistic outlookZachon told The Block that the outlook for crypto looks bright in terms of extending its appeal to new market participants. He stated: “This next bull cycle will have something that no other bull cycle before it had — dozens of live blockchain networks, thousands of decentralized applications, battle tested infrastructure, and the adoption by major banks and government organizations around the world. The number of companies that will hold crypto on its balance sheets is about to explode, and we are here to serve them — no matter how complex the transactions are.” With this latest round of venture capital backing, TRES appears to be well-positioned in striving to become a key player in facilitating transparent and compliant financial operations for an ever-expanding array of blockchain networks and decentralized applications. As the crypto industry matures, the importance of robust accounting and taxation reporting solutions like TRES is poised to grow in tandem with the increasing complexities of financial transactions within the blockchain ecosystem.