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  • SEC Faces Mounting Pressure to Turn DeFi Guidance Into Formal Rules

    SEC Faces Mounting Pressure to Turn DeFi Guidance Into Formal Rules

    Industry participants are urging the U.S. Securities and Exchange Commission (SEC) to formalize its crypto guidance on decentralized tools, arguing clearer rules would reduce uncertainty and better align oversight with blockchain infrastructure.

    Key Takeaways:

    • Over 30 crypto industry participants urged SEC to formalize DeFi guidance.
    • Regulatory ambiguity around SEC broker rules threatens blockchain innovation.
    • Commissioner Hester Peirce backed rulemaking to align SEC policy with DeFi.

    Crypto Industry Participants Press SEC to Formalize DeFi Guidance

    The crypto industry is urging the U.S. Securities and Exchange Commission (SEC) to turn recent guidance on decentralized tools into formal rules, a move supporters see as positive for long-term blockchain development. On April 21, DeFi Education Fund and over 30 organizations submitted a letter backing the agency’s position on certain crypto transaction interfaces while pressing for a formal regulatory framework that would provide lasting clarity.

    The coalition supported the regulator’s distinction on non-custodial tools, arguing that these interfaces serve as technical infrastructure rather than transaction intermediaries. DeFi Education Fund, a U.S.-based advocacy group, organized the response, while the other firms and organizations signed on as independent supporters. The position also aligns with Commissioner Hester Peirce’s broader push for modernized broker definitions that reflect crypto market structure. The letter stated:

    “We therefore respectfully urge the Commission to build upon the Statement through notice-and-comment rulemaking.”

    “Specifically, the Commission should consider adopting a principles-based framework that provides clear, objective criteria for when activity falls within the definition of ‘broker,’ iterating on the criteria in the Statement,” the letter added.

    Commissioner Peirce reinforced this direction in separate remarks, calling for a permanent overhaul of broker-dealer rules to better align with decentralized technologies. She emphasized that legacy definitions risk misclassifying software providers and infrastructure participants, signaling the need for a durable framework that reflects current crypto market realities. Her position adds weight to the industry’s argument that formal rulemaking, rather than guidance, is essential for long-term regulatory clarity.

    Formal Broker Framework Seen as Key to DeFi Expansion

    Rulemaking is central to the group’s argument because Staff guidance does not carry the same durability as a formal rule. The letter pointed to continuing debate over how the term “broker” should apply in decentralized markets and argued that infrastructure providers, including validators, data services, and communications networks, should be distinguished from entities that actively intermediate transactions. The signatories warned that regulatory ambiguity could chill blockchain development and reduce efficient market access for investors.

    The letter closed with a forward-looking appeal for a more stable, technology-neutral approach. The coalition wrote:

    “We are hopeful that formalizing the principles in the Statement into a durable, technology-neutral regulatory framework would provide lasting clarity and reinforce the approach outlined by the Staff, and we look forward to providing additional, detailed commentary in the future.”

    In the group’s view, codifying the SEC’s position would reduce uncertainty, limit future reinterpretation, and provide a stronger foundation for decentralized finance development.

  • Amazon’s Eero Exempted From FCC’s Foreign-Made Wi-Fi Router Ban

    Amazon’s Eero Exempted From FCC’s Foreign-Made Wi-Fi Router Ban

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  • Nick Fuentes Has a Type, and His Own Fans Ain’t It

    Nick Fuentes Has a Type, and His Own Fans Ain’t It

    Far-right pundit and content creator Nick Fuentes recently tested the bounds of his own vapidness — while simultaneously proving the loyalty of his core supporters — after two of the white nationalist’s followers taped a CNN segment, and one of the young men did not, according to the image-conscious pundit, look the “groyper” part.

    The all-too-revealing series of events began last week when two of Fuentes’s devoted “groypers” — the term coined for the very online, performatively white nationalist, anti-immigration, antisemitic, Islamophobic, homophobic and sexist gaggle of men whose currency is being obnoxious or inflammatory, but always attention-seeking — sat for an interview with CNN’s Donie O’Sullivan to discuss their growing online political movement.

    John Lawrence was one of these two young men, both of whom proudly agreed to the interview with the cable news outlet. It’s unclear exactly what they discussed with O’Sullivan, but they surely sang the praises of their groyper king. After the still-unaired segment was in the can, Lawrence posted some stills to his Instagram account, which is reportedly devoted to groyper content and has amassed upwards of 40,000 followers. In one still with O’Sullivan, Lawrence even reportedly asserted that he and his companion were “mogging” the young host — meaning they looked better, hotter, more handsome and more masculine than the reporter.

    As other images of Lawrence and friends from CNN’s segment circulated online, the vibe shifted. Maybe they weren’t the hottest guys in the room; maybe these two representatives of the movement were too pudgy, too nerdy, too lame to be the self-appointed avatars for the movement — at least as far as CNN viewers are concerned.

    This was about when Fuentes dropped in to trash the two followers — young men so devoted to his particular brand of hatred that they were literally wearing T-shirts with his likeness emblazoned on them while appearing on national television.

    In what neatly encapsulates the uncomfortable, rude, thin-skinned yet cruel, sarcastic and ultimately juvenile communication style of his online brood, the leader of the pack started with — what else — Lawrence’s looks.

    “What the actual fuck is this,” Fuentes posted, feigning confusion at the young men — who are likely an accurate representation of his base — for agreeing to be representatives of his movement on a news segment.

    “Do not claim to represent me if you are dressed like that and are +25 BMI,” he wrote next, pulling no punches as he went for the jugular, before becoming defensive of his lucrative brand: “As a matter of fact nobody represent me at all.”

    Then came the mocking, hard-to-read-as-serious tone, alongside an image of the three men doing what looks like a walk-and-talk interview: “For CNN. Can’t wait for this lmao. For fucks sake. It just keeps getting better. I AM NEVER COMING BACK.”

    Then he went dark: “Everything I supported in the past, I am now against. Fuck goyim.”

    And darker: “Can someone come kill me immediately,” he wrote, alongside a close-up of Lawrence’s questionable footwear.

    He then posted an image of Family Guy‘s Peter Griffin falling from a window, probably to his death.

    The mob, of course, piled on. Soon enough, they were calling for Lawrence to be doxxed and have his life ruined. They even drew a mean caricature of him. Fuentes and his hateful mob — along with the rest of the world — are still waiting for the segment to air on CNN. That is, if they can stop tearing the subjects to shreds.

  • ‘The Testaments’ Actor Brad Alexander on Garth’s ‘Restrained Affection’ for Agnes, What His ‘Riskier Position’ Means for Her After the Ball

    ‘The Testaments’ Actor Brad Alexander on Garth’s ‘Restrained Affection’ for Agnes, What His ‘Riskier Position’ Means for Her After the Ball

    SPOILER ALERT: This story contains spoilers for Episode 5 of “The Testaments,” titled “Ball,” now streaming on Hulu.

    While the girls in Gilead don’t get a prom, they get as close as possible to the quintessential teen experience on this week’s episode of “The Testaments.”

    In the new installment of “The Handmaid’s Tale” sequel series, aptly titled “Ball,” Agnes (Chase Infiniti) and her other “Green” friends who are now eligible for marriage attend a ball to be paraded in front of all the Commanders who are looking for a young wife. Agnes is particularly interested in one bachelor who has just become suitable for marriage: her guardian, Garth (played by Brad Alexander), who is being promoted to Commander in the coming weeks.

    Her hopes to marry for love intensify when Agnes has the chance to dance with Garth at the ball. A Commander suitor of Agnes’ asks Garth to cut in for him so that the Commander can attend to some business, and he and Agnes take full advantage of the rare moment of normal adolescence.


    Courtesy of Disney/Steve Wilkie

    “I think think he’s sort of swept up in it as well,” Alexander tells Variety. “You can tell Gilead is such a strict place, and they have this one night where it’s a bit looser. Like he says in the episode, I think tonight some of the rules kind of fall by the wayside. And he’s there observing and watching this dancing, this drinking, this partnership, and this romantic air. And I think, he’s frustrated, to be honest, that as a guardian, he can’t really get involved until he’s placed in it.”

    Though Agnes’ feelings for Garth are quite obvious to viewers — and her pearl-girl friend Daisy (Lucy Halliday ), who also happens to have Garth as her Mayday handler — what Garth thinks about Agnes is much less clear. Alexander says that’s because Garth himself, having grown up in Gilead and now serving as a double agent for the rebels in Canada, doesn’t have the words for it.

    “I think, at least in this season, it’s sort of a restrained affection,” Alexander says. “He definitely thinks that she is vivid and alive, and has a real personality beyond the Gileadian sort of dress. But I think he’s in this position where his goals are clear, and it’s to take down Gilead as part of Mayday.”

    Courtesy of Disney/Steve Wilkie

    He adds: “His conception of romantic love is nil. He doesn’t really understand what it even is, so all of these feelings he’s confronting for the first time, and I think he has no idea what’s happening within his own body.”

    While the odds might still be against Agnes in her desire to marry Garth, he is now at least in the running as a potential husband thanks to his soon-to-be Commander status. But this promotion comes with strings that tie him more deeply to Gilead.

    “I think Garth is really excited by this change, which is perhaps a little bit naive,” Alexander says. “He’s being made a Commander, and to him, that means he can advance Mayday’s goals more aggressively. But what I think he doesn’t realize is that it puts him in actually a riskier position: He’s gaining more intel and more information, insider information. But that in itself is a vulnerability to him. He’s happy about the change, but maybe he shouldn’t be.”

    And Garth has certainly not expected this position could lead to romance.

    Courtesy of Disney/Steve Wilkie

    “I think he’s always conceived that he would marry, but just not in the sense that we would understand it,” Alexander says. “His conception of marriage is dynastic. He thinks that marriage is a way to equalize houses and privilege and money and economics. It’s not a romantic thing for him, so he doesn’t have that conception in his mind. I think he idealized marriage, as you do in Gilead, but it’s not something that’s related to love or affection.”

    As for how and why Garth became involved in Mayday in the first place, Alexander says “the mechanics of it are still something of a mystery,” but reveals there were “two really big influences” on Garth’s choice.

    “One is just the simple moral realization of the truth,” Alexander says. “He’s having these experiences with these girls for the first time. And he’s seeing firsthand how their personalities are being diminished, just so they can fit into this patriarchal world. So I think he has had a sincere moral realization about how wrong Gilead is.”

    Garth is also driven by something that the audience will learn later in the season, according to Alexander: that his father “was a very well-renowned Commander and a fighter of Gilead, up until the Boston moment.”

    Alexander reveals that Garth’s father was injured in the event, which viewers saw at the end of “The Handmaid’s Tale.” As a result, Garth is also “angry at the system that raised him,” he says.

  • Bitcoin Hits an 11-Week High Above $78,000 but Analysts Say the Rally Is a Squeeze, Not a Shift

    Bitcoin Hits an 11-Week High Above $78,000 but Analysts Say the Rally Is a Squeeze, Not a Shift

    Bitcoin climbed above $78,000 on April 22, reaching its highest price in 11 weeks, as a wave of short liquidations and improved macro sentiment following Trump’s ceasefire extension combined to push the asset to a key technical level that had resisted multiple breakout attempts.

    Bitcoin rose above $78,000 on April 22 for the first time since early February, touching an 11-week high as easing geopolitical tensions and a concentrated cluster of short liquidations above the level combined to push price through resistance that had turned back multiple attempts in recent weeks. According to Fortune’s April 22 price data, BTC was trading at $78,194 as of 9:15 a.m. ET, up approximately $2,293 from the prior morning.

    Bitcoin 11-Week High Fueled by Short Liquidations and Macro Relief

    CoinDesk reported that approximately $180 million in short futures positions were sitting above the $78,000 level heading into the session, according to CoinGlass liquidation heatmap data, creating significant upside fuel if price could clear the threshold. The broader catalyst was Trump’s extension of the Iran ceasefire announced on April 21, which lifted risk sentiment across equities and crypto simultaneously. Crypto futures open interest rose more than 4% to $126 billion in the 24 hours surrounding the move, with funding rates flipping positive across most major tokens, signaling renewed demand for leveraged long exposure.

    Diana Pires, Chief Business Officer at sFOX, said, “Bitcoin reaching an 11-week high and testing the $78,000 level is being framed as a macro-driven move, but the move appears largely driven by positioning, with a significant amount of short liquidations sitting above the market. This is a squeeze dynamic more than a fundamental shift in demand.”

    Altcoins Join the Rally, But the Breadth Tells Its Own Story

    The Bitcoin move pulled altcoins higher across the board, with memecoins leading gains and higher-beta assets outperforming. As crypto.news documented, a similar dynamic played out during the earlier $225 million short squeeze in mid-April, where forced buying in derivatives markets accelerated a price move that ultimately failed to hold. The current rally’s altcoin participation pattern drew cautious readings from analysts watching for signs of genuine capital reallocation versus tactical risk-on positioning.

    According to Diana, “Participation is expanding into altcoins, but it’s concentrated in higher-beta, more speculative segments. That’s consistent with a short-term risk-on reaction, not a broad reallocation of capital.”

    Whether the Move Can Hold Is the Real Question

    Bitcoin spent more than 46 consecutive days below $76,000 before this week’s move, building up one of the largest concentrations of short positioning in recent history, as crypto.news tracked. K33 Research head of research Vetle Lunde noted that comparable risk-off regimes with negative funding and rising open interest have historically preceded significant recoveries once short sellers were forced to unwind. That structural setup provided the technical conditions for the current move, but analysts are watching closely whether spot demand can sustain price above $78,000 once the immediate liquidation fuel is exhausted. The FOMC meeting on April 28 and 29 is the next major macro test, with rate cut expectations still largely absent from the near-term calendar.

    “What matters now is whether this move can sustain without continued positioning support. Liquidity conditions remain tight, and capital is still selective in how it allocates to risk assets. Until that participation deepens and proves durable, this type of price action is more reflective of short-term positioning than a broader shift in market structure,” Diana explained.

  • International Finance Bank Confirms XRP as a Payment Rail Within ILP Stream Protocol

    IFB Presentation Reveals $XRP’s Role as a Bank Payment Rail in ILP STREAM Protocol

    A newly surfaced internal presentation from International Finance Bank (IFB), highlighted by crypto researcher SMQKE, is reinforcing a growing narrative that $XRP goes beyond theory, positioning it as a live payment rail within the Interledger Protocol (ILP) rather than just a conceptual banking framework.

    The document, prepared for IFB’s technical and risk teams, details how banks can integrate with Ripple’s ILP framework. It highlights the STREAM protocol as a core layer enabling real-time value and data transfer across disparate ledgers.

    Notably, $XRP is explicitly identified as the settlement mechanism powering that exchange of value.

    This distinction is important because ILP is built to be asset-agnostic, routing value across different currencies and networks.

    Nevertheless, IFB’s implementation points to a more specific role for $XRP within STREAM, functioning as the bridge asset that moves value between systems. In practice, it serves as the liquidity layer that enables fast, efficient settlement across otherwise disconnected networks.

    IFB’s Multi-Rail Payment Strategy Reveals $XRP’s Real Institutional Role

    Even more revealing is how IFB frames its payment architecture as a multi-rail system, where different networks are used depending on need, much like choosing between PayPal, Apple Pay, or a bank transfer.

    Within this setup, RippleNet, ILP, and Mojaloop sit alongside legacy rails such as SWIFT and SEPA.

    Rather than a one-size-fits-all approach, IFB applies selective routing. RippleNet—and by extension $XRP, is deployed only where counterparties are already within Ripple’s ecosystem or where it offers clear FX and settlement efficiency.

    The takeaway is straightforward that $XRP isn’t used universally, but strategically, wherever it delivers measurable economic advantage.

    Interoperability is also of the essence and IFB confirms that ILP can run alongside SWIFT gpi Instant, underscoring a broader reality that blockchain isn’t replacing traditional finance overnight, but embedding itself within it. The result is a hybrid infrastructure where legacy rails and blockchain networks increasingly work in parallel rather than in opposition.

    This convergence narrative is reinforced by estimates suggesting that 60% of SWIFT-connected banks already have some level of exposure to Ripple-related technology.

    Looking forward, some within the $XRP Ledger community see $XRP expanding beyond cross-border payments into decentralized finance (DeFi) applications. If that trajectory continues, its role could shift from a liquidity bridge to a core component of emerging financial infrastructure.

    In conclusion, IFB’s documentation stands out for its practical framing of $XRP as a functional infrastructure within institutional payment systems.

  • Tina Knowles Reflects on Her Career at Variety’s Entertainment Marketing Summit, Says Hair Care Business Cécred was a ‘Dream for Me and Beyoncé’

    Tina Knowles has worked as a businesswoman, fashion designer, and hairstylist, but the job she’s proudest of is her role as “Matriarch,” which is also the apt title of her 2025 autobiography. At Variety’s Entertainment Marketing Summit presented by Deloitte, Knowles and Variety’s Senior Entertainment Writer Angelique Jackson dove into her history and talked about what inspired her business decisions and collaborating with her family, including her daughter Beyoncé.

    When she was freshly divorced, Knowles began chronicling her life as a personal project. She credited writing the book with helping her navigate her insecurities and grief over the relationship ending.

    “I was 59 years old, which is really funny, because I’m 72 now and that’s not old, but back at 59 I was like, ‘Oh my God, my life is over,’” said Knowles. “I started recording into my telephone, not for a book, but to leave it to my kids, because I felt my mortality. If I die, my children wouldn’t know anything about their history, because they are just not very interested in it. I would try to tell them stories, and they wouldn’t listen. So, I was like, they’re gonna be real sorry one day.”

    “Matriarch” also reflected on Knowles’ career trajectory, with Knowles noting she often worked out of necessity and didn’t receive proper credit for her contributions.

    Knowles says she has finally learned to take credit for her achievements, including her House of Deréon clothing line with Beyoncé, and previous work designing costumes for Destiny’s Child, something the band’s label was not happy with.

    “They were constantly trying to get rid of me,” said Knowles, who explains the label often saw her costumes as “country.” “Some of them, I look back on [and] I don’t know what the hell I was thinking, but a lot of them were amazing, and it set them apart. I think that was a big part of what made them special and different, aside from the talent, because they were super talented, and I’m not taking away from that, but the imaging had a lot to do with it.  Sometimes I get sad about it, because I look back at pictures and I’m like, that was really good. But the record label was constantly tearing it down and saying, ‘They need to look like Britney Spears, and they need to have on a midriff top and some jeans.’ They even tried to get rid of me a couple of times, which didn’t work, thank God.”

    House of Deréon was not the duo’s last business endeavor, as the mother/daughter team launched the hair care line Cécred in 2024.

    “With textured hair, we needed lots of oils and butter, so I would mix up in my salon hot oil treatments with egg whites and things like that,” said Knowles, who ran a hair salon in Texas for many years. “It was always a dream for me and Beyoncé, because she grew up in the salon, that we would have a product that would do all of that.”

    After an extensive testing process, the pair launched their line of products, which Knowles says they both use. “Our customers did videos and TikToks, and they advertise, and they sell the product for us. We’ve won like 64 awards, and we’ve all been out less than two years. It was the number one launch at Ulta, and that is huge. And we did it with the help of our customers; they’ve come along with us through the journey.”

    Starting a haircare line felt “authentic” to Knowles, who said that the support and camaraderie she found at her salon made the business “way more than a hair salon.” Knowles hopes to keep that sense of community going, giving away 10 beauty school scholarships each year through Cécred. She says her role as “Mama Tina” means the most to her of all her titles, allowing her to help guide young people.

    Wrapping up the conversation, Knowles mentioned her new venture, Badass Teenie B Productions, and emphasized the value of staying authentic and taking pride in your achievements.

    “It’s something about turning 70 that lets you know that you should take credit,” Knowles said. “It’s a difference between being humble and not getting your just due. It’s a difference, and I wish I would have known that earlier in life.”

  • ‘Imperfect Women’ Star Elisabeth Moss on Mary’s Suspicions About Howard and Why Her Kids Matter Most: ‘Who Gives a S— About the Affair?’

    ‘Imperfect Women’ Star Elisabeth Moss on Mary’s Suspicions About Howard and Why Her Kids Matter Most: ‘Who Gives a S— About the Affair?’

    SPOILER ALERT: This post contains stories from Episode 7 of “Imperfect Women,” now streaming on Apple TV.

    Elisabeth Moss is no stranger to portraying a desperate mother on TV.  The “Imperfect Women” star spent almost a decade playing June — the lead character of “The Handmaid’s Tale” who recently made a reappearance in the spinoff series “The Testaments” — whose key aim is to reunite with her abducted daughter.

    While her acting in the dystopian drama was hardly unconvincing (Moss won an Emmy, a Golden Globe and a Critic’s Choice Award for her work in “The Handmaid’s Tale”), playing a mother on-screen has a whole new level of depth for the actress now. Moss had her first child in 2024, an experience that helped her connect with her role as Mary in Annie Weisman’s adaptation of Araminta Hall’s novel “Imperfect Women” for Apple TV. Optioning the rights six years ago, Moss also serves as an executive producer for the show – the first project she picked up with producing partner Lindsey McManus after launching their Love & Squalor production banner in 2020.

    “I played a mom for many, many years, and I think I understood it,” Moss told Variety. But post-motherhood, she says “there’s something about the emotion that is more on the surface. I don’t have to use my imagination as much. Your head just goes to a darker place, faster, and the emotion is just closer to the surface.”

    As of Episode 7, Mary is in her darkest place yet.

    Married to a presently unemployed professor, Howard Simpson (Corey Stoll), Mary, often referred to as someone with great talent and wasted potential, is shown to spend most of her time taking care of her three children, occasionally writing and taking part in workshops — until her best friend Nancy (Kate Mara) is murdered.

    What follows is a harrowing chain of events, as the show’s narrative volleys from the perspective of Eleanor (Kerry Washington), the third member of their trio, to the murdered Nancy and finally to Mary. Upon finding an obscure Latin translation of Howard’s in Nancy’s notebook, Mary realizes the two were having an affair before her death and confronts Howard, who vehemently denies any involvement with Nancy.

    After realizing he lied to her about his ex-wife years ago and finding Nancy’s ring in Howard’s closet, Mary flees to Eleanor’s house and shares her theories, before receiving a call from Howard informing her their daughter is in the hospital, unconscious after overdosing on the Adderall Mary was shown to secretly be stashing earlier in the episode.  

    Mary is handed an emergency protective order by the police that demands she not have any contact with her children until the investigation is over. When Howard makes it clear he knows she took Nancy’s ring, the two have an explosive fight in the hospital, where she accuses him not only of murdering Nancy but also deliberately providing their daughter with the Adderall – after all, Mary had left the pills on the cabinet’s highest shelf, far out of the reach of a young child.

    Howard provides the cops with a box of Nancy’s belongings, which an embarrassed Mary admits to stealing, with it later being revealed that Mary and Howard used to role-play as Nancy and her husband Robert (Joel Kinnaman). When Mary returns to her home to look for further evidence, Howards finds her and convinces her of an unfortunate truth: She has nothing concrete against him. And without evidence, there’s no chance she can regain custody of her children. She eventually agrees to keep quiet in exchange for the ability to be with her kids, telling Howard, “I won’t say a word. I’ll be good.”

    All of this turns out to be a moot point, when an upset Eleanor calls in a favor with Robert and has Howard taken in for questioning regarding Nancy’s murder. Mary crumbles on the front porch, sobbing and telling an unbelieving Howard she had nothing to do with his arrest, while he tells the police to call the Department of Children and Family Services. Mary is forced to say goodbye to her kids as they’re taken away by the authorities, seconds before the TV news reveals a new suspect in Nancy’s murder case.

    Below, Moss spoke with Variety about Mary’s intuition, her relationship with Howard — and why her role as a mother is her biggest motivating factor.  

    The show began with you optioning the novel. Where did you first come across the book? And did you know that you always wanted to play Mary?

    Yes, I did. I came across the book in an airport when I was going to go shoot a film in Hawaii, and I wanted a good beach read. I loved the cover, I loved the title, and I was like, “You know what? Let’s see what it is.” I wasn’t intending to buy it or option it, but I was taken by it, and told my producing partner, who wasn’t even my producing partner at the time – “Can you read this book?” And she did, and she loved it. That was in November of 2019, and then we took it to Apple in January of 2020. And I definitely always knew I wanted to play Mary, especially when I got to Mary’s part. The show is a bit different from the book, but it’s equally as exciting, just in a different way. I felt like she was in the background most of the book and what ended up being part of her story was an obvious statement about how she was pushed to the side because she was a housewife and a mom and didn’t have ambition or a big career or a lot of money — any of the things that made someone else stand out. And so, I thought, “Oh, that’s interesting. Why is that happening? Why are they pushing her to the side?” That’s the one I want to do.

    Do you think she’s underestimated before her viewpoint gets introduced?

    Oh, yeah, she’s in the background and aside at the beginning of the story. And I think that it’s on purpose that she’s being underestimated. It’s on purpose that she is being pushed to the side and not in the spotlight. She’s a little bit invisible, which I think is very common of women who don’t have a big, fancy job or that kind of thing.

    Eleanor cares very deeply about Nancy, but Mary’s character has always been shown to be more invested in actively trying to solve her murder from the start. Why do you think that is?

    It’s a hard question to answer. I think that there’s something about her life that isn’t making sense. She’s like, “If I solve this mystery, I will be able to figure something out about my life. Something will make sense.” And then it becomes obvious that’s not going to work. I mean, it is kind of how she figures out a lot about her life. So, she’s not wrong. Maybe there’s an instinct that she’s having, about there being a connection between Nancy’s death and something about her life.

    Everyone on the show is kind of unreliable in a sense — there’s some level of motive or the other when it comes to possibly murdering Nancy. Did you try to play up the unreliability angle, especially with Mary’s drug use to make viewers question her?

    Yes, I think so. Not in a way of trying to mess with you on purpose, but in the way that everyone is an unreliable narrator in the story because they’re all so flawed and so imperfect. In the beginning, you think, “I don’t like this person, or this person is my favorite.” You can’t help but place judgment a little bit. And the idea is, then we will show you the other side of the story. We will show you behind the scenes. We’ll show you what you didn’t get to see and why. So that person that you thought was your favorite isn’t going to be your favorite anymore, and that person that you hated, you’re going to end up seeing why they are actually the way that they’re acting. So, it wasn’t like trying to fuck with you to fuck with you, but more about these people. No one in this story is without blame; no one is perfect. No one is the hero, even Mary, who is arguably the least suspicious, ends up being the one who has a drug problem that definitely could have clouded her judgment.

    It’s really interesting that Mary always believes Howard – as shown in the flashbacks where he says he asked for a divorce from his ex-wife, who later tells Mary the roles were reversed – except for when they’re talking about Nancy, and she finds his translation in her notebook. Why is that the one time that she doesn’t believe what he’s saying?

    I think it’s one of those things that she knew and suspected all along, and it’s almost like the nail in the coffin, you know? It’s not that this is more damning than anything else. It’s just that’s the one thing that she can’t ignore. There have been so many times in the past when she has ignored her instincts. And I think we’ve all had that experience where, for some reason, something happens, and it’s just the straw that breaks the camel’s back. For some reason, you can’t ignore that one.

    As the season progresses, she finds out that he’s obviously very different from the person she thought she married. He does a lot of inexcusable stuff, including poisoning their child. How did you approach figuring out how a person would begin to deal with such revelations about the person they’ve married?

    I feel like it’s really hard for me to talk about process, because I don’t have a process. When I read something, if I connect to the character, it’s almost for reasons that I can’t even explain. It’s not like I’ve experienced it, or I know what that feels like. It’s just like there’s something about it that I feel like I understand and can portray.

    In a difficult decision, Mary goes back to Howard. How did you feel about that part of the script, and how did you react when you read it?

    She’s gonna do anything to be with her kids, period. There’s no question. And anyone who has ever loved anyone that way understands that she’s gonna do whatever she has to do to be with her kids and also to protect them.

    The scene where Mary has to say goodbye to her kids as they get placed in productive custody is really hard to watch. What do you remember about filming that scene?

    It’s so different filming that stuff now than before. I don’t want to say it’s easy, but it is something that I can connect to pretty easily.

    With that kind of scene, I tend to want to shoot my coverage first, because I know that the emotion is going to be real and it’s going to be right away. I can repeat it and manufacture it if we have to, but I would rather use the real thing and my first instincts. Daina [Reid] shot Episodes 6 and 7, a director I’ve worked with many, many times. [Moss and Reid previously worked together on “The Handmaid’s Tale,” “Shining Girls,” and “Run Rabbit Run.”] This is our fourth show together, and I can say anything to her. She knows me very, very well as an actor. And that was a moment when we weren’t sure whether or not we would do. [But] we decided that it was just too important, we had to see her watch those kids walk away. The idea of putting on a brave face and not crying, and making sure that your kids don’t see you cry, to me, is just so poignant, and I luckily have not experienced anything close to that. I am using my imagination to a certain extent, but my imagination is very strong, and so the idea just killed me. It just broke my heart, the idea of having to see that happen.

    When you say it’s different filming those scenes now —

    I think becoming a mom definitely gives you a little bit more of an understanding? I mean, I played a mom for many, many years, and I think I understood it. But I think there’s something about the emotion that is more on the surface. I don’t have to use my imagination as much, like your head just goes to a darker place, faster, and the emotion is just closer to the surface. So, I don’t have to dig as deep to get it, if that makes sense.

    Going back to Mary and Howard’s relationship, it’s revealed that they used to roleplay as Nancy and Robert. Do you think that role-playing made Howard want the real Nancy?

    I think that’s Mary’s fear. That is definitely something that she’s gonna be worried about. But she did not make him a sociopath. Believe me, it’s a valid question, but obviously, the truth is no, of course not, she didn’t make Howard who he is. I think that he probably agreed to it and liked it because that instinct to be aspirational and be someone else was already there in him and her.

    A lot of people in the show use the word obsessed when describing Mary’s relationship with Nancy, especially when it’s revealed she’s been hoarding her things. How did you view that scene?

    I don’t know if she’s obsessed, but I think that there’s a lot of envy and jealousy there. Mary wishes that she has what she thinks Nancy has. It’s not the real Nancy. She’s envious of the idea of what Nancy has, and I don’t think she wants to be Nancy. She just wants to be this better version of herself.

    It’s also difficult for her to balance her grief and obviously, anger and betrayal over Nancy’s affair with her husband.

    Incredibly complicated, which makes for really fun television! We love complicated stuff like that. It’s much more fun to play three things at the same time. But I think the thing that is most important, honestly — and this is what I kept saying when we were shooting — is the kids. There’s all this stuff she’s dealing with as a mom, the fact that he is threatening to take her kids away and does separate her from her kids, the fact that he poisons their daughter, is a bit more important than anything else. Who fucking gives a shit about the affair? Who cares about the fact that her friend cheated when her child was poisoned by her husband and her father? Very little else matters.

    I also want to ask you a bit about your involvement on the producer side of things. Did you have any specific notes for Mary that you really wanted to include in the show?

    I thought it was written really beautifully by Annie, and Kay [Oyegun] wrote a lot of the stuff later and I think that they both had beautiful instincts. Maybe the only thing, I guess, would have been to focus on the kids like that. I just couldn’t help this feeling that nothing mattered more than the fact that her kids were being taken away from her and that they were possibly in danger. And so anytime we got into an argument about the affair or Nancy or the murder, the only thing I kept going back to and kept reminding anyone writing was that nothing else matters to Mary, except for getting her kids back. Everything else is secondary.

    Without giving the finale away, what do you think viewers are going to be most shocked by?

    That’s hard to say. What do you think off the record?

    [REDACTED]

    That’s what I hope people are shocked by! I was hoping you’d say that. For me, that is definitely the most shocking, exciting, fun twist at the end, because everything you think and suspect is absolutely true. And we wanted you to think and suspect, and you’re supposed to be like, “Wait, what?” So, for your question, I think the viewers are going to be most shocked by literally the last moments.

    This interview has been edited and condensed.

  • Kalshi suspended three political candidates from its platform for insider trading

    Prediction market Kalshi has taken action against three political candidates, alleging that each was engaged with insider trading of information about their campaigns. The company implemented new rules last month aimed at preventing politicians and athletes from placing bets on events they can control, and it said those guardrails helped to flag this trio of cases.

    The three candidates are Mark Moran of Virginia, Matt Klein of Minnesota and Ezekiel Enriquez of Texas. Kalshi reached settlements with Klein and Enriquez, both of whom cooperated in the platform’s investigations. Each will face a fine of less than $1,000 and suspensions of up to five years. Moran’s case has resulted in a disciplinary action, with a five year suspension and a fine of more than $6,000. He posted on X about the situation and claimed this was essentially a stunt to see if he’d be caught and “to highlight how this company is destroying young men.”

    Kalshi and other prediction markets have been the subject of several lawsuits by state attorneys general that are attempting to regulate the sector as gambling. Nevada, Arizona and New York have cases underway, but the state-level attempts are not looking promising. An appeals court ruled against New Jersey’s effort to govern this industry, and the US Commodity Futures Trading Commission has launched a lawsuit of its own in an effort to ensure it will be the only party to regulate prediction markets.

  • KCEX Unregistered Exchange Evades South Korean Ban: iOS App Store Loophole Exposed

    KCEX Unregistered Exchange Evades South Korean Ban: iOS App Store Loophole Exposed

    An unregistered overseas crypto exchange, KCEX, continues to operate in South Korea despite a government ban, leveraging a loophole through the iOS App Store. This situation reveals significant gaps in the country’s regulatory framework for virtual asset service providers. As of April 22, 2025, the exchange remains accessible to South Korean users, undermining efforts to enforce financial oversight.

    KCEX Unregistered Exchange: Background and Timeline

    South Korean financial authorities flagged KCEX for unregistered business activities in August 2024. The exchange, based overseas, never obtained the necessary license from the Financial Services Commission (FSC). Despite this, it continues to attract users through its mobile application.

    The timeline of events highlights the challenges regulators face. In 2024, the FSC strengthened rules for virtual asset service providers. They required all exchanges to register with the Korea Financial Intelligence Unit (KoFIU). Non-compliance carries penalties, including blocking access to local markets.

    However, KCEX sidestepped these measures. The exchange did not block South Korean IP addresses. Instead, it maintained its app on the iOS App Store. This move allowed users to download and trade freely. The app’s availability on Apple’s platform gives it legitimacy in the eyes of many users.

    How the iOS App Store Bypass Works

    The bypass relies on Apple’s global distribution system. Apple does not individually vet each app for compliance with foreign financial regulations. Instead, it relies on the app developer’s self-certification. KCEX likely listed its app as available in all regions, including South Korea.

    This oversight creates a major enforcement gap. South Korean authorities can block websites and domain names. They can also request internet service providers to restrict access. But they cannot directly remove apps from Apple’s App Store without a formal request to Apple. Such requests take time and often face legal hurdles.

    Additionally, users can bypass regional restrictions by changing their App Store account region. This technique requires no technical skill. It makes the ban nearly impossible to enforce at scale.

    Regulatory Gaps in South Korea’s Crypto Oversight

    South Korea has one of the strictest crypto regulatory environments globally. The Specific Financial Information Act requires all exchanges to register with KoFIU. Exchanges must also implement anti-money laundering (AML) and know-your-customer (KYC) procedures.

    Despite these rules, unregistered exchanges thrive. A 2024 report from the FSC found over 30 unregistered overseas exchanges targeting South Korean users. These platforms often offer higher leverage or fewer restrictions than domestic exchanges.

    Table: Comparison of Registered vs. Unregistered Exchanges in South Korea

    Impact on South Korean Crypto Users

    The continued availability of KCEX exposes users to significant risks. Without regulatory oversight, these exchanges may engage in market manipulation. They might also fail to secure user funds. In 2023, several unregistered exchanges collapsed, causing millions in losses for South Korean investors.

    Moreover, users face legal consequences. Trading on unregistered platforms violates South Korean law. The FSC has warned that users could face fines or criminal charges. Yet enforcement remains rare, creating a sense of impunity.

    Financial experts emphasize the need for better user education. Many traders choose unregistered exchanges for lower fees or access to specific tokens. They often overlook the risks until a problem occurs.

    Expert Analysis: Why Enforcement Fails

    Legal experts point to jurisdictional issues as the primary barrier. KCEX operates from a country outside South Korea’s legal reach. The FSC cannot issue fines or freeze assets held abroad. International cooperation through bodies like the Financial Action Task Force (FATF) exists but is slow.

    Furthermore, technology evolves faster than regulation. Decentralized exchanges (DEXs) and peer-to-peer platforms add another layer of complexity. Even if Apple removes the KCEX app, users can access the exchange via web browsers or alternative app stores.

    Dr. Kim Min-ji, a professor of financial law at Seoul National University, notes: “The current regulatory framework assumes a centralized, cooperative environment. The crypto market is neither. Regulators must adopt a more proactive, technology-driven approach.”

    Broader Implications for Global Crypto Regulation

    The KCEX case is not unique. Similar situations occur in Japan, the United States, and the European Union. Apple and Google face increasing pressure to vet financial apps more rigorously. In 2024, the EU’s Digital Services Act (DSA) began requiring app stores to verify the legal status of financial service providers.

    South Korea could adopt similar measures. The FSC has discussed requiring app stores to block unregistered exchanges. However, such a mandate would face legal challenges from Apple and Google. It could also set a precedent for other countries.

    Industry observers predict a shift toward self-regulation. Crypto exchanges may form consortiums to verify each other’s compliance. Blockchain analytics firms already offer tools to identify unregistered platforms. These tools could help app stores automate vetting processes.

    Conclusion

    The KCEX unregistered exchange case highlights the persistent challenge of enforcing crypto regulations in a globalized digital economy. Despite South Korea’s robust legal framework, the iOS App Store loophole allows the exchange to operate freely. This situation underscores the need for international cooperation, technological innovation in enforcement, and greater user awareness. Until regulators close these gaps, unregistered exchanges will continue to pose risks to investors and undermine financial stability.

    FAQs

    Q1: What is KCEX, and why is it considered unregistered in South Korea?
    KCEX is an overseas cryptocurrency exchange that has not registered with South Korea’s Financial Services Commission (FSC) as required by law. It was flagged for unregistered activities in August 2024 but continues to operate.

    Q2: How does KCEX bypass South Korea’s ban through the iOS App Store?
    The exchange lists its app as available in all regions on Apple’s App Store. Apple does not automatically block apps based on foreign financial regulations, allowing South Korean users to download and use it.

    Q3: What risks do users face when trading on unregistered exchanges like KCEX?
    Users risk financial loss from potential scams or exchange collapses. They also face legal consequences, including fines or criminal charges, for violating South Korea’s Specific Financial Information Act.

    Q4: Can South Korean authorities force Apple to remove the KCEX app?
    Yes, but only through a formal legal request. The process is slow and requires international cooperation. Apple may comply if the request is legally sound, but enforcement is not immediate.

    Q5: What steps can South Korea take to prevent similar loopholes in the future?
    Regulators could mandate app stores to verify the registration status of financial apps. They could also strengthen international partnerships and adopt blockchain-based monitoring tools to detect unregistered platforms.