Issue #59

Banks buy stablecoins due to FOMO, Chinese investors secretly buy SpaceX shares, data, wind and water now economic assets, and more. 

News from March 6 - March 13, 2025

Banks Buy Stablecoins Due to FOMO

Major EU and US banks are rushing to buy stablecoins, hoping to cash in on the $226.8 billion market. Simon Taylor, co-founder of stablecoin exchange 11:FS: “It’s about people selling shovels in the stablecoin gold rush.”

Stablecoins are more integrated into the financial system in 2025, with global regulators accepting their use in cross-border payments. In the last 30 days alone, over $4.7 trillion in transactions were facilitated by stablecoins. The market is expected to double by 2025. 

Bank of America said it’s considering issuing its own stablecoin just as PayPal, Stripe and Revolut have done. Even the US State of Wyoming is launching a stablecoin. Since Donald Trump recently said he would legislate on stablecoins in August, their entrenchment within the financial system is expected to continue. 

Source

North Korea Steals Billions in Crypto

On February 21, North Korean hackers stole $1.5 billion in cryptocurrency from crypto exchange Bybit, in the largest crypto heist of all time. 

The hackers, known as the Lazarus Group, altered a digital wallet address during a transfer from one of Bybit’s suppliers. Then they laundered the money through various crypto exchanges like eXtch. Experts say the hackers are working 24/7 to launder the money, deploying teams in shifts with small breaks. Already $300 million can’t be recovered.

Bybit accused eXch owner Johann Roberts of not doing enough to stop the criminals from laundering more than $90 million through his crypto exchange. Roberts admitted his team didn’t stop them, owing to an ongoing feud with Bybit. He is now cooperating, despite his reluctance to betray customers’ identities and right to anonymity. No customers’ funds were stolen, according to Bybit CEO Ben Zhou, who replenished the stolen coins with investor loans. 

Source

‍Startup Creates Biological AI

Australian startup Cortical Labs launched the “world’s first code deployable biological computer”. 

The CL1, a shoebox-sized device, uses living human brain cells to interact with silicon chips, forming a fluid neural network to process information naturally. It requires less energy than a normal computer, less training than traditional AI, and can solve problems with originality.

Cortical Labs, who made headlines in 2022 for teaching human brain cells how to the video game "Pong", believe the CL1 could be used to test neurological drugs without animals. Ernst Wolvetang, a biologist at the University of Queensland: “Learning Pong is one thing but making complex decisions is another.”

Source

Bulletin Board

• Chinese Investors Secretly Buy SpaceX Shares. Chinese investors are quietly channeling millions into Elon Musk's private companies including SpaceX, xAI, and Neuralink through special-purpose vehicles that hide their identities. Using Cayman Islands-registered entities, Chinese asset managers have sold over $30 million in shares to wealthy investors seeking foreign opportunities amid China's sluggish economy. These opaque structures shield Chinese investors from US scrutiny during tense US-China relations. Some investors have made 530% returns, with asset managers promoting Musk's relationship with President Trump to attract clients. Source
• US Lawmakers Introduce Hundreds of AI Bills. Over 781 AI-related bills are pending across US state legislatures, already more than the total number of AI bills proposed in 2024. One bill requires chatbot providers to inform users they’re speaking with AI. Another mandates watermarks on AI-generated content. Massachusetts HD 3750 would require healthcare insurance carriers to disclose AI use in reviewing claims. New York A773 would require banks to conduct annual impact analyses of AI lending decisions. Source
• Danes Stop Sending Letters. PostNord Denmark will stop delivering letters at the end of 2025, concluding a 400-year presence in the country. Only 5% of Denmark sends letters, one of the world’s most digitised countries. The number of letters being sent has dropped 90% since 2000, and combined with the scrapping of the VAT exemption for postage, sending letters is expensive. Kim Pederson, Managing Director of PostNord Denmark: “When a letter costs 29 Danish krone (£3.35), there will be fewer letters.” This is part of a wider trend in Europe. Germany’s Deutsche Post recently cut 8,000 jobs. Source
• Trump Calls Tesla Vandals ‘Terrorists’. President Trump will classify violence against Tesla dealerships as domestic terrorism amid global "Tesla Takeovers" protests targeting Musk's Department of Government Efficiency. Protesters have damaged Tesla property with graffiti and Molotov cocktails while the company's stock price has fallen. Trump: "You do it to Tesla... we're going to catch you, and you're going to go through hell." Meanwhile, Tesla sales have declined globally as Musk oversees federal agency cuts despite his companies receiving $20 billion in government contracts. Source
• Data, Wind and Water Now Economic Assets. The UN has included wind, waves and data as economic assets that can be used to measure a country’s economic performance. These changes will take effect in 2030. Economist Ben Zaranko warns that while GDP may rise on paper, it won’t materially change the UK’s financial situation, but the UK economy will appear up to 3% larger. This will potentially increase GDP-linked spending commitments, adding £2bn to defence spending despite no increased wealth or tax revenue. Source

Disclaimer: This blog offers insights into international business and global events for informational purposes only. It is not intended as investment or business advice. WeavePay is not liable for any decisions made based on the content provided.

We're on a mission to partner with ambitious international businesses. If your team has the vision and meets the criteria, join us at WeavePay for tailored payment solutions that have helped hundreds of global companies succeed in the complex global market. Subscribe and reach out to see if we're a match.