In an announcement on April 30, the Federation Internationale de Football Association (FIFA) announced that the organization is planning to launch a new blockchain network to support its non-fungible token (NFT) collectibles.
Here are the latest updates from the crypto world
In an announcement on April 30, the Federation Internationale de Football Association (FIFA) announced that the organization is planning to launch a new blockchain network to support its non-fungible token (NFT) collectibles.
FIFA will launch its “FIFA Blockchain,” with Ethereum Virtual Machine (EVM) compatibility and it aims to provide “better performance, future features, and improved scalability.”
According to Cointelegraph, as a part of this move, the FIFA Collect — its official NFT collection — will migrate from the Algorand blockchain to the new FIFA Blockchain. This migration is scheduled to begin no earlier than May 20, FIFA said.
“At this stage, no immediate action is required. When the migration process begins, we will provide clear, step-by-step instructions on what (if anything) you need to do,” the announcement stated.
The collection’s migration will take place “not earlier than” May 20, FIFA said, adding that it will confirm the exact date and provide clear instructions for NFT holders.
After the migration, external Algorand-based wallets such as Pera and Defly will not be supported. Instead, users will be able to connect to FIFA Collect through MetaMask or other EVM wallets that support WalletConnect.
Other listed collectibles will be automatically listed on the new platform, unless users delist them before the migration date.
The US Treasury Department is attempting to stop the Cambodia-based Huione Group from accessing the American banking system. The department is accusing the company of helping North Korea’s state-sponsored Lazarus Group launder cryptocurrency.
On May 1, the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed the prohibition to US financial institutions from opening or maintaining correspondent or payable-through accounts for or on behalf of the Huione Group.
In a statement on May 1, the US Treasury Secretary Scott Bessent said, Huione Group has established itself as the “marketplace of choice for malicious cyber actors” like the Lazarus Group, who have “stolen billions of dollars from everyday Americans.”
“Today’s proposed action will sever Huione Group’s access to correspondent banking, degrading these groups’ ability to launder their ill-gotten gains.”
A highest-ever quarterly revenue has been reported by Bitcoin miner Riot Platforms. However, it still posted a loss of mining costs as having nearly doubled compared to the same period last year amid efforts to expand its facilities.
In a May 1 report for first quarter 2025 earnings, Riot CEO Jason Les said,
“We achieved a new record for quarterly revenue this quarter, at $161.4 million,” The company just surpassed Wall Street estimates of $159.79 million by 1%.
According to Cointelegraph, Riot’s Q1 revenue was a 50% jump compared to the same quarter a year ago. The firm reported a net loss of $296,367 over Q1, a 240% decrease from the $211,777 net income it posted in the year-ago quarter.