Big Cheese Studio, a game development studio based in Poland, confirmed it suffered a cyberattack early Friday, according to the Polish Press Agency (PAP). The attack occurred around 4:00 GMT, and the company’s website remained offline several hours later. Management stated that security measures were in place, with an official statement expected later in the day.
Reports indicate hackers accessed the studio’s game code systems and employee personal data. The attackers are allegedly demanding 100,000 zlotys (£19,000) in cryptocurrency to prevent the release of stolen information. Users on social media platform X brought attention to the ransom threat, sparking concerns over data privacy and security.
Big Cheese Studio, listed on the Warsaw Stock Exchange, is working to address the breach. The incident underscores growing risks faced by companies in the gaming industry from cyber threats.
In a significant move for the cryptocurrency sector, the US Securities and Exchange Commission (SEC) has rescinded its controversial 2022 accounting guidance, Staff Accounting Bulletin (SAB) 121, which had been heavily criticised by the industry. The decision marks a shift in policies under President Donald Trump’s administration and is seen as a victory for crypto advocates.
SAB 121 required companies holding digital assets on behalf of others to treat them as liabilities, increasing operational costs. The crypto industry and its supporters, including crypto-friendly lawmakers, had long objected to the measure. Despite the SEC’s former chair Gary Gensler defending it as a safeguard for investors, particularly in cases of bankruptcy, the banking industry welcomed its removal.
In a statement, Paige Pidano Paridon of the Bank Policy Institute praised the decision, stating that it restores banks’ ability to serve as a secure option for digital asset custody. The SEC also announced the creation of a crypto task force, led by Republican Commissioner Hester Peirce, who expressed her approval of the decision on social media.
Bitcoin has surged to an all-time high of $109,071 following Donald Trump’s inauguration as a “crypto president” and optimism surrounding eased regulations and ETF approvals. However, some of the world’s largest investors remain unconvinced about cryptocurrency’s potential.
Anne Walsh, chief investment officer at Guggenheim Partners, which manages $335 billion in assets, stated that her firm has not invested in crypto. She described Bitcoin as a reflection of “risk-on appetite” rather than an alternative to traditional banking. Similar scepticism was echoed by Nicolai Tangen, CEO of Norway’s $1.8 trillion sovereign wealth fund, who ruled out crypto investments for Norges Bank.
Saira Malik of Nuveen, with $1.3 trillion in assets under management, highlighted the difficulty in determining the fundamental value of crypto, although her firm invests in companies exposed to digital assets. Meanwhile, Melissa Stolfi of TCW Group, which oversees $200 billion, emphasised focusing on core business operations rather than entering the crypto market.
Despite Bitcoin‘s explosive growth, major investment firms remain cautious, citing concerns about valuation, regulation, and the resources required to succeed in the crypto space.
President Donald Trump has established a cryptocurrency working group to develop a comprehensive regulatory framework for digital assets. The group will explore creating a national cryptocurrency stockpile and propose new rules for the crypto sector. This move signals a sharp policy shift, aiming to strengthen the US’s position as a leader in digital innovation.
The executive order bans central bank digital currencies, emphasising support for existing cryptocurrencies. It also protects banking services for crypto companies, countering claims that regulators have previously blocked such access. The Securities and Exchange Commission (SEC) has repealed costly accounting guidelines that hindered crypto adoption, marking a win for the industry.
Trump’s crypto-friendly policies, including appointing David Sacks as the administration’s crypto and AI czar, have been met with enthusiasm. Bitcoin soared to a record high earlier in the week amid investor optimism. The working group’s mandate includes clarifying the classification of crypto assets and assessing the viability of a federal digital asset reserve, which could use cryptocurrencies seized by law enforcement.
The crypto industry has praised the move as a landmark in regulatory clarity, with many experts believing it could accelerate the mainstream adoption of digital assets in the US.
Ivanka Trump has issued a public warning against a fraudulent cryptocurrency named the so-called ‘$IVANKA’ coin. ‘To be clear: I have no involvement with this coin. This fake coin risks deceiving consumers and defrauding them of their hard-earned money,’ she stated.
The warning comes amid a surge of meme tokens linked to prominent figures, including $TRUMP and $MELANIA, launched over the weekend. These tokens initially gained attention but have since seen significant drops in value. The $TRUMP coin, linked to the former president, peaked before falling by 50% to $37, while the $MELANIA token plunged by 80% to $2.84.
Despite their popularity among crypto enthusiasts, meme coins are highly volatile and lack intrinsic value. Ivanka Trump, who played a major role in the first Trump administration alongside her husband Jared Kushner, urges caution to help investors avoid losses from deceptive schemes.
At the World Economic Forum in Davos, BlackRock CEO Larry Fink shared an optimistic outlook on Bitcoin, positioning it as a potential hedge against currency debasement and political instability. He suggested that Bitcoin could reach values of $500K to $700K per coin, presenting it as a global financial tool to overcome concerns about local economic uncertainty. However, Fink also pointed out Bitcoin’s notorious volatility, acknowledging that its price has seen sharp corrections even during bullish periods.
In a significant move, BlackRock has purchased $600 million worth of Bitcoin, marking its largest acquisition in 2025. This purchase brings the firm’s iShares Bitcoin Trust to a total of 559,262 BTC, currently valued at approximately $58.51 billion. BlackRock has also expanded its crypto portfolio, launching the iShares Bitcoin Trust and iShares Ethereum Trust last year, offering investors more direct access to Bitcoin and Ethereum.
As the firm continues to strengthen its position in the digital assets market, the recent purchase highlights growing institutional interest in Bitcoin as a long-term investment despite its volatility.
Bank of America CEO Brian Moynihan has voiced support for integrating crypto payments into the financial system, emphasising the importance of regulatory clarity. Speaking at the World Economic Forum, he stated that stablecoins, particularly those backed by traditional assets like the US dollar, could seamlessly join existing payment networks if properly regulated. Moynihan suggested that banks could play a pivotal role in turning crypto into a mainstream payment option.
This marks a significant shift for Bank of America, which once criticised crypto’s lack of transparency. Over the years, the bank has embraced blockchain technology, securing hundreds of patents and experimenting with innovative platforms to enhance payment efficiency. With initiatives like the Paxos Settlement Service, BofA has positioned itself as a leader in blockchain adoption, aiming to reduce costs and improve transaction speed.
If regulators approve, crypto payments could revolutionise consumer and business transactions, offering faster and cheaper alternatives to traditional payment systems. From streamlining cross-border payments to promoting financial inclusion, integrating digital currencies into banking could redefine the financial landscape.
US President Donald Trump recently unveiled the $500 billion Stargate project, a groundbreaking AI infrastructure initiative that has captured market attention. Collaborating with OpenAI, SoftBank, Oracle, and MGX, the project is based in the US and has already secured $100 billion in initial funding. Industry experts suggest this move could significantly influence the AI and cryptocurrency markets.
Dr Max Li, CEO of decentralised cloud platform OORT, highlighted the impact Stargate could have on AI tokens. He noted the strong connection between AI advancements and digital assets, predicting a surge in AI projects and token launches. Li warned that while many projects may emerge, only those with genuine utility and business value would endure.
The announcement triggered immediate market reactions, with AI tokens such as ai16z and Worldcoin seeing notable price increases. The rising interest in the convergence of artificial intelligence and decentralised finance (DeFi) suggests that the Stargate initiative could accelerate innovation in both sectors.
As AI continues to intersect with blockchain, the Stargate project positions the US at the forefront of these technological advancements, paving the way for further growth in AI-driven digital assets.
At the 2025 World Economic Forum (WEF) in Davos, the cryptocurrency industry engaged in intense debate, particularly surrounding Bitcoin and its potential role as a strategic reserve asset for the US. Coinbase CEO Brian Armstrong reaffirmed that the push for a Bitcoin reserve, backed by figures like US Senator Cynthia Lummis and President Donald Trump, remains strong despite the recent memecoin frenzy surrounding Trump’s TRUMP token. Armstrong emphasised that Bitcoin, much like gold, is a valuable reserve asset due to its scarcity, portability, and divisibility, potentially making it a new gold standard for global reserves.
While the concept of a Bitcoin reserve gained support from many, Lesetja Kganyago, the governor of South Africa’s Reserve Bank, expressed doubts. He questioned why Bitcoin should replace traditional reserves like gold or even other natural resources like platinum. However, Armstrong countered by highlighting Bitcoin’s advantages over gold, noting that its higher utility and performance make it a strong candidate to eventually surpass gold in central bank reserves.
The session also delved into the growing influence of the US cryptocurrency lobby, particularly the positive effects of Trump’s administration on the sector. SkyBridge Capital’s Anthony Scaramucci critiqued the Democratic Party for failing to engage with the rapidly evolving crypto industry, while others noted the industry’s shift towards international markets due to the challenging regulatory environment in the US. Armstrong added that ‘the Trump effect’ has provided the sector with new optimism, suggesting a more favourable climate for crypto growth under the new administration.
CLS Global, a cryptocurrency financial services company based in the United Arab Emirates, has agreed to plead guilty to US charges of market manipulation. The company was implicated in “Operation Token Mirrors,” a groundbreaking FBI investigation that utilised an undercover digital token to expose fraud in the cryptocurrency sector. Prosecutors revealed CLS had engaged in illegal practices, including wash trading, to manipulate the market for a token created by the FBI.
The probe, launched last year, involved creating a fake cryptocurrency company and token called NexFundAI to uncover illicit activities. CLS admitted to providing fraudulent trading services for the token, artificially inflating its trading volume and price. As part of a plea deal, CLS will pay $428,059 in penalties, cease operations involving US cryptocurrency platforms, and adopt stricter compliance measures.
The case marks a major milestone in law enforcement’s efforts to regulate the cryptocurrency industry and combat fraudulent practices. Federal prosecutors described the operation as a model for tackling crypto-related crime, demonstrating the FBI’s innovative approach to targeting market manipulators. CLS also agreed to settle related civil charges with the US Securities and Exchange Commission.
