The Pacific US territory of the Northern Mariana Islands has passed a bill allowing its small constituent island of Tinian to launch a stablecoin, overriding an earlier veto by the territory’s governor.
The 20-member Northern Mariana Islands House voted 14-2 to undo Governor Arnold Palacios’ April 11 veto of the bill, which allows the Tinian local government to issue licenses to internet casinos and includes a provision for the Tinian treasurer to issue, manage and redeem a “Tinian Stable Token.”
The territory’s nine-member Senate had revived the bill on May 9, voting 7-1 in a two-thirds majority to override the veto, which then needed a two-thirds majority in the House to pass.
Originally, a four-member Tinian delegation to the Marianas legislature had unanimously passed the bill to Governor Palacios on March 12.
It may put the Tinian government in the lead to be the first US public entity to issue a stablecoin, which it must do before July if it’s to beat the state of Wyoming government, which is aiming to issue a stablecoin by then.
Tinian has just over 2,000 residents and a largely tourism-based economy. Its local government, the Municipality of Tinian and Aguiguan, is one of four municipalities in the Commonwealth of the Northern Mariana Islands, a US territory in the Pacific Ocean north of Guam.
Governor Palacios said in a letter that he vetoed the bill as it “presents several legal issues and may be unconstitutional,” would regulate an activity that could not “be clearly restricted” to Tinian and that it lacked needed enforcement measures to counter illegal gambling.
The stablecoin is called the Marianas US Dollar (MUSD) and will be backed by cash and US Treasury bills held in reserve by the Tinian Municipal Treasury, according to statements shared with Cointelegraph in March.
The Tinian government chose local tech services firm Marianas Rai Corporation as the exclusive infrastructure provider for MUSD, which will be launched on the eCash blockchain, a network that rebranded from Bitcoin Cash ABC in 2021 and is a fork of Bitcoin Cash, a blockchain forked from Bitcoin.
A Marianas Rai Corp. spokesperson did not comment beyond telling Cointelegraph the company would announce more on MUSD on May 19.
“Bitter pill to swallow”
Before the vote, House lawmakers heard from the public and discussed overturning Governor Palacios’ veto before they voted it through, with independent House floor leader Marissa Flores airing concerns over the bill.
Marianas Rai Corp. co-founder and technology chief Vin Armani had urged lawmakers to undo the veto, saying the bill would “attract billions of dollars of investment and tax revenue” from the crypto industry without the government having to pitch in.
Clyde Norita, a Marianas Rai Corp. director and local legal cannabis mogul, told the House that the local economy was “dying out” and the bill would allow business in the region “without affecting our culture, without affecting our environment, without affecting our immigration status.”
Representative Flores, who voted against the override, said, “Every time we talk about casinos, there’s always some kind of bitter pill to swallow.”
Related: Stablecoin regulation ‘next catalyst’ for crypto industry — Aptos head
“It is true, we are in dire need of money, but what I don’t like is when we are desperate, and we are now forced to make a decision because we are desperate once again,” she added. “Every time we’re desperate, it always seems that we come back to casinos.”
“I don’t like to be pushed to a corner to make a decision based on fear,” Flores said.
Others were more supportive of the measure, with Republican Representative Patrick San Nicolas, a Tinian delegation member who initially voted on the bill, saying it would help pull the region out of “a deep economic crisis.”
“We need this legislation to unlock our potential,” he added. “This bill does not depend on tourists or federal subsidies — it builds a digital industry generating revenue from a licensed jurisdiction.”
Legal Panel: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
For the first time, MLB is putting some of the sport’s top geographical battles together in a rivalry weekend that begins Thursday night.
Because the matchups are built around natural location rivalries, some of this week’s series will bring the heat (Juan Soto‘s return to the Bronx for a Mets-Yankees showdown, for starters) while others have significantly less juice (Rockies-Diamondbacks, we’re looking at you).
With that in mind, we took the liberty of putting the rivalry weekend matchups in tiers, from the spiciest showdowns to the biggest stretches — then we identified the true current rivals for every MLB team.
The most heated rivalries
What makes it a rivalry: This is one of those old, intrastate civic rivalries that bubbled in the minors (the Texas League in this case) for decades and grew slowly at the big league level once interleague play began. This one really took off a little more than a decade ago with the Astros joined the Rangers in the AL West. It has a name — the “Silver Boot Series” — and plenty of on-field enmity emerging in recent years. They represent Texas’ two biggest metro areas, both of which stake claim to being the hub of the Lone Star-verse, and compete for the same things: the AL West, the AL pennant and the right to claim Nolan Ryan as their own.
One thing to watch: There have been a lot of high-powered offenses in these rivalry matchups, but this year the pendulum has swung towards run prevention for both teams. The Astros have featured an offense that’s been a little below league average, a level to which the Texas batsmen would love to reach. But both pitching staffs rank in the top 10 by ERA+. Expect tight, low-scoring tussles. — Bradford Doolittle
Each team’s true rivals
Rangers: Astros. To a lesser degree, AL West rivals such as the Angels, Mariners and Athletics
Astros: Rangers — plus the added weight of basically being everyone’s hated rival since the franchise was rocked by scandal a few years back
What makes it a rivalry: The Subway Series, like most matchups on this list, derives from geography. New York City has a rich baseball history, and these are its two baseball franchises. About 10 miles and a 50-minute subway trek with a transfer at Grand Central separate the two ballparks. They’re so close that, in 2003, they played the first game of a doubleheader at Yankee Stadium and the second at Shea Stadium. But there’s more than geography here. The two clubs have battled for the city’s attention since the Mets debuted in 1962 — with the Yankees almost always boxing out their Queens counterparts. They met in the 2000 World Series when Roger Clemens threw a piece of lumber at Mike Piazza. And, a quarter century later, little brother (the Mets) seem poised to challenge big brother’s standing for years to come after convincing Soto to leave the Bronx behind.
One thing to watch: Soto’s return to the Bronx will be cinema. The right fielder’s relationship with Yankees fans in his one season in the Bronx, particularly with the Bleacher Creatures beyond the right-field wall, became a storyline of its own. They showered Soto with love and he gave it right back. They chanted “Re-sign Soto!” and he played along. Then he didn’t re-sign and all that love went off the RFK Bridge. Soto will undoubtedly receive raucous boos from offended crowds who still can’t believe he chose the Mets over their team. If Soto’s history is any indication, the scorn will fuel him. — Jorge Castillo
Each team’s true rivals
Yankees: Red Sox, Mets
Mets: Braves, Phillies, Yankees
What makes it a rivalry: Mizzou. Not entirely, but the University of Missouri sits right smack between Busch Stadium and Kauffman Stadium. When innumerable high school grads from the state head to Columbia, there they encounter a whole population of baseball fans rooting for the wrong team. Having experienced this directly, I can recall stories of lines being drawn inside of fraternity houses during the 1985 World Series, keeping fans of the combatants separated. And of course there’s that World Series, now 40 years ago, the outcome of which Cardinals fans of a certain age still whine about.
One thing to watch: Both teams are rolling, having rebounded from sub-.500 starts to leap into the playoff chase. In a reversal of the recent fortunes of the franchises, the Royals’ snap-back was expected and it’s the Cardinals’ sudden rise that is the shocker. However you frame it, the Royals and Cardinals will clash with both teams riding sizable waves of momentum. — Doolittle
Each team’s true rivals
Cardinals: Cubs
Royals: Cardinals — and the Yankees for a time in the 1970s
What makes it a rivalry: Separated by 5.5 miles on the L (subway), the Cubs and Sox are natural rivals, divided by the North and South sides of the city. Growing up a fan of one undoubtedly means not being a fan of the other. The rivalry ebbs and flows as both teams are rarely good at the same time though that hasn’t stopped the two fan bases from duking it out — oftentimes in the stands. A home plate collision — and brawl — between catchers A.J Pierzynski and Michael Barret in 2006 only heightened tensions between the clubs.
One thing to watch: Before assuming the Cubs will sweep the lowly White Sox, consider the teams give up nearly the same amount of runs per game. In fact, the South Siders have a better bullpen by the numbers. And perhaps this is the game where Luis Robert Jr rights his season. He has a career .992 OPS against the Cubs including a 1.063 mark at Wrigley Field. Keep an eye on those fights in the stands. There’s usually a couple that go viral. — Jesse Rogers
Each team’s true rivals
Cubs: Cardinals, with the Brewers a close second, then the White Sox
White Sox: Twins, Cubs
These matchups should be fun
What makes it a rivalry: About 250 miles via Interstate 71 separate these in-state rivals, as there’s no love lost between Cleveland and Cincinnati. Cleveland has mostly owned this matchup, winning 76 of the 135 times (.563) they’ve played. In fact, the Reds haven’t won the season series against Cleveland in a decade, last beating them 3 out of 4 in 2014. Terry Francona facing his old team should add some spice to the match-up.
One thing to watch: Francona’s reception from the Guardians faithful will have to wait until next month when the teams square off in Cleveland so this weekend is about the Reds trying to break that decade-long slump against their rivals. They’ll have to contend with Jose Ramirez, who has a career .935 OPS against Cincinnati including 12 of his 45 interleague home runs. — Rogers
Each team’s true rivals
Guardians: Twins
Reds: Cardinals
What makes it a rivalry: “Bay Bridge Series” no longer works now that the A’s have moved out of Oakland and into Sacramento, about 90 miles away. That’s a shame — there used to be some real juice here, highlighted by an encounter in the 1989 World Series, an A’s sweep in a series best remembered for a terrifying earthquake. But the real rivalry here was among the fans. And given how betrayed the people of Oakland feel after watching their baseball team relocate, that element is long gone.
One thing to watch: Matt Chapman represented a better time in A’s history. The organization drafted him in the first round in 2014, then watched him come up and star on teams that made three consecutive playoff appearances from 2018 to 2020. Chapman was traded shortly thereafter, yet another symbol of the frugality that has plagued this franchise for decades. The A’s haven’t done much right since then, but they’ve held Chapman to four hits and zero home runs in 25 at-bats over these last two years. — Alden Gonzalez
Each team’s true rivals
Giants: Dodgers, Athletics
Athletics: Giants, Angels
What makes it a rivalry: Nothing spices up a rivalry quite like a shared interstate highway and media rights drama. The Beltway Series is just two decades old — the Expos crossed the border to become the Nationals in 2005 — and it has lacked much on-field intrigue. Off the field, particularly inside courtrooms, is another matter. A synopsis: Baltimore was the incumbent team in the region before the Nationals existed. To appease the Orioles, who opposed a franchise entering their market, MLB ordered Nationals games to be broadcasted by MASN — the Orioles-owned television network in perpetuity. Soon enough, the franchises disagreed on the rights fees MASN should pay the Nationals. The Orioles took the matter to court in 2014, igniting a legal battle that finally ended in March when MLB dissolved the agreement, allowing for the Nationals to pursue selling its local TV rights on the open market. This is their first meeting since. Drama.
One thing to watch: These two teams feature exciting young cores on slightly different championship contention timelines. Or so that was the expectation. While the Nationals are, as projected, in fourth place in the NL East and en route to not reaching the postseason for the sixth straight season, the Orioles have face-planted out of the gate with World Series aspirations after consecutive postseason appearances. The Orioles can’t stand to sit in last place much longer. All eyes are on whether they can dig themselves out of this hole. — Castillo
Each team’s true rivals
Nationals: Phillies
Orioles: Yankees and Red Sox
What makes it a rivalry: They share a spring training complex in Peoria, Arizona, neither franchise has won a World Series, and they used to make a lot of trades with each other — indeed, the Mariners’ top two relievers, Andres Munoz and Matt Brash, were acquired from the Padres in two separate trades made on the same day in 2020. The Mariners’ largest comeback in franchise history came against the Padres, a 16-13 victory in 2016 after trailing 12-2. But this is hardly a heated rivalry — it really came about only because neither team had a logical opponent back when interleague play began in 1997.
One thing to watch: With both teams battling for first place, it’s been forever since either team won a division title: 2006 for the Padres and 2001 for the Mariners. Both teams also have early MVP candidates to focus on: Fernando Tatis Jr. leads the NL in WAR and Cal Raleigh is among the leaders in the non-Aaron Judge mix in the AL — and has played every game, starting at either catcher or DH. — David Schoenfield
Each team’s true rivals
Padres: Dodgers (arguably the best rivalry in the game right now!)
Mariners: None, really. The Astros would be the most hated among Mariners fans right now, but you can say that about every team in the AL West.
Well, the geography does line up …
What makes it a rivalry: Back in 2011, the Dodgers were navigating Frank McCourt’s financial mess and Angels owner Arte Moreno saw an opportunity. He signed Albert Pujols and inked a lucrative cable deal that came with the hopes of supplanting the Dodgers as the “it” team in Southern California. The opposite occurred. Guggenheim purchased the Dodgers in spring 2012, then signed an even bigger cable deal, hired Andrew Friedman to lead baseball operations, and the franchise eventually became the industry’s standard-bearer. The Angels, meanwhile, are trending toward a 10th consecutive losing season and saw Shohei Ohtani spurn them for the Dodgers two offseasons ago. Moreno and his lieutenants despise the Dodgers, but the gap between the two teams has become so wide — in track record, financials, resources and reputation — that it doesn’t matter.
One thing to watch: Clayton Kershaw makes his return from offseason toe and knee surgeries Saturday, and the Dodgers need him far more than they ever anticipated. Tyler Glasnow, Blake Snell and Roki Sasaki are all on the injured list with shoulder injuries. Ohtani, meanwhile, is still methodically going through his pitching rehab and isn’t expected back until some time after the All-Star break. Kershaw is in his age-37 season, but he has looked sharp through five rehab starts, posting a 2.57 ERA in 21 innings. — Gonzalez
Each team’s true rivals
Dodgers: Giants, Padres, Diamondbacks, Braves, Astros, Yankees
Angels: Rangers, Mariners, Astros
What makes it a rivalry: Let’s be honest here, this isn’t even the best rivalry between Tampa and Miami. The NHL version between the Lightning and Panthers is much more intense and competitive, with both franchises having won Stanley Cups this decade (the Lightning in 2020 and 2021 and the Panthers in 2024). The Rays have dominated the head-to-head play of late, going 24-4 since 2019.
One thing to watch: The Rays have to view this as a chance to jump-start their season given their recent dominance over the Marlins. Chandler Simpson is fun to watch with his blazing speed but hasn’t really been all that valuable for the Rays. For the Marlins, they need Sandy Alcantara to get going, but the former Cy Young winner has struggled in his return from Tommy John surgery. He should start on Sunday. — Schoenfield
Each team’s true rivals
Rays: Yankees (although obviously the Rays aren’t the Yankees’ biggest rival)
Marlins: Braves. As Marlins fans can point out, they do have more World Series titles than the Braves since 1997
What makes it a rivalry: If playing in the same state isn’t enough to define a rivalry, then how about playing in more than 2,300 games against each other to do it? From 1969 to 1994, the Phillies and Pirates were both in the NL East, giving each city ample time to dislike the other side, each and every year. Though the Phillies have been the better team recently, it’s the Pirates who own a decided edge in the all-time series, winning 1230 games to 1085 for Philadelphia. Pirate favorite Andrew McCutchen went to the other side for three seasons before returning to earn boos from the Philly faithful who used to cheer him.
One thing to watch: When it comes to the Pirates these days, there’s literally one thing to watch: Paul Skenes. This will be his first time facing Bryce Harper, Kyle Schwarber and a Phillies offense that ranks in the top 10 in OPS. Skenes is coming off one of his better outings in a loss to the Mets on Monday — though he only struck out six in six innings. In fact, Skenes hasn’t hit double digits in strikeouts in a single outing this season. That trend might continue this weekend, as the Phillies are one of the tougher teams to whiff this season. — Rogers
Each team’s true rivals:
Phillies: Mets (with the Braves gaining ground)
Pirates: The Phillies — but the Cubs aren’t far behind
What makes it a rivalry: “The Border Battle” — the uninspired moniker for this rivalry — is almost entirely a product of geographic overlap. As best I can tell, insofar as there is bad blood between Milwaukee/Wisconsin and Minneapolis/Minnesota, it’s as much a carryover from the Packers-Vikings rivalry in the NFL as anything. And of course the Wisconsin-Minnesota college football rivalry is the most played of all the traditional rivalries. In baseball, the Twins and Brewers were briefly in the same division and were both in the AL for a long time. But other than claiming rights to Larry Hisle and Paul Molitor, it’s always struck me as too friendly. Midwest nice.
One thing to watch: The Brewers have yet to get hot this season for any prolonged stretch, though they did recover from their wretched season-opening series at Yankee Stadium; Milwaukee has hovered around .500 all season. That’s where Minnesota is as well but they got there in different ways. The Twins started slow and have gotten red hot lately. Their problem is that all the non-White Sox teams in the Central have been hot, so Minnesota has hardly gained any ground in the standings. When this series begins, both rivals are still establishing whatever their 2025 identities turn out to be. — Doolittle
Each team’s true rivals
Brewers: Cubs, Cardinals
Twins: Royals, White Sox, Twins
What are we doing here?!
What makes it a rivalry: Once upon a time, this was a heated AL East affair. That changed when the Tigers moved to the AL Central in 1998. Still, just a four-hour, 230-mile/370-kilometer drive separates the two cities and, with the Expos long gone, the Blue Jays don’t have a Canadian sibling franchise to loathe. Maybe the recent tense U.S.-Canada relations will make for a zestier-than-usual weekend in Toronto.
One thing to watch: The Tigers are proving their stunning finish to the 2024 season was no fluke. They own the best record in the American League behind a starting rotation headed by reigning AL Cy Young Award winner Tarik Skubal. The good news for Toronto is they won’t face Skubal this weekend as they seek to remain within striking distance in the AL East. The bad news is Chris Bassitt and Kevin Gausman, two of their three best starters, won’t toe the rubber either. — Castillo
Each team’s true rivals
Blue Jays: Expos
Tigers: White Sox
What makes it a rivalry: This is always a fun series for history buffs since the Braves and Red Sox are both “Original 16” franchises, but they’ve never met in a World Series and this rivalry is really just based on the fact that the Braves played in Boston from 1876 to 1952. That doesn’t have much relevance for 2025. Seven Hall of Famers have played for both franchises: Babe Ruth, Cy Young, Jimmy Collins, Al Simmons, Orlando Cepeda, John Smoltz and Billy Wagner.
One thing to watch: We get a stellar pitching matchup on Friday between 2024 Cy Young winner Chris Sale for the Braves and 2025 Cy Young contender Garrett Crochet for the Red Sox. Sale is 1-3 with a 3.97 ERA, but has fanned 64 in 47⅔ innings. Crochet is 4-2 with a 1.93 ERA and 65 Ks in 56 innings. — Schoenfield
Each team’s true rivals
Braves: Probably still the Mets, but Braves-Phillies has escalated since 2022
Red Sox: Yankees
What makes it a rivalry: They’re … both kinda new? (The Rockies were born in 1993, the Diamondbacks in ’98.) They’re … kinda close? (It’s a two-hour flight or a 13-hour drive between their respective cities.) They … like the color purple? (The D-backs recently brought theirs back.) OK, we’re getting a little too cute. It’s not like there’s nothing here. They play in the same division, and they really got after it twice: 2007, when the D-backs won the NL West and the Rockies swept them in the NLCS; and 2017, when they met in the wild-card game. But there hasn’t been much since.
One thing to watch: Corbin Carroll slashed .299/.426/.529 in 25 games against the Rockies from 2023 to 2024, a two-year stretch in which they lost a combined 204 games. Carroll is off to a blazing start, and now he’ll get to feast on a Rockies pitching staff that holds the worst ERA in the majors. The D-backs have won 19 of 26 games against the Rockies over these past two years. That should come as no surprise. — Gonzalez
Each team’s true rivals
Diamondbacks: Dodgers, Padres
Rockies: Dodgers
Another 12 people have been charged for their involvement in a $263 million crypto crime spree that stole 4,100 Bitcoin from a Genesis creditor last August, along with a string of break-ins and money laundering.
The 12 new names, included in a superseding indictment, add to charges originally brought against the main defendant in the case, Malone Lam, on Sept. 19, 2024, the Department of Justice noted in a May 15 statement.
Jeandiel Serrano was named a defendant in the initial indictment but was not included in the superseding one.
The DOJ said several defendants have been arrested, while two others are believed to be living in Dubai.
Many of the suspects, with aliases like “Goth Ferrrari” and “The Accountant,” come from California, mostly aged between 18 and 22.
The group allegedly began operating in October 2023, evolving from friends while playing online games to what the DOJ describes as participating in a “cyber-enabled racketeering conspiracy.”
Hacking, burglarizing and laundering
The DOJ said group members were tasked with everything from hacking databases, cold calling crypto holders to conduct social engineering attacks to even burglarizing houses to steal crypto hardware wallets.
Others were involved in laundering the stolen proceeds, which the DOJ claimed amounted to $263 million.
Over $230 million resulted from a single instance on Aug. 18, 2024, when Lam fraudulently obtained over 4,100 Bitcoin (BTC) from a victim.
Related: Crypto exchange CEO’s daughter fights off brazen kidnappers in Paris
The DOJ said Lam also hacked into another victim’s iCloud account to watch their movements, while defendant Marlon Ferro would break into their house to steal crypto hardware wallets.
Virtual private networks, crypto mixer protocols and exchanges using “peel chains” were used to make it harder to trace the illicit activity, the DOJ said. A peel chain is a money laundering tactic where crypto is transferred through a series of wallets, with small amounts of funds “peeled off” at each step.
They have been charged with RICO (Racketeer Influenced and Corrupt Organizations) as well as offenses involving wire fraud and money laundering.
Gone in 60 seconds
Members of the crypto theft ring allegedly used proceeds to pay for nightclub services — costing up to $500,000 on some nights — 28 exotic cars as expensive as $3.8 million, in addition to luxury handbags, watches, and clothing.
Homes and jets were even rented out with fake identity documents to fund their lavish lifestyles, the DOJ noted.
Magazine: Japanese porn star’s coin red flags, Alibaba-linked L2 runs at 100K TPS
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports1 year agoStory injured on diving stop, exits Red Sox game
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike
-
Business3 years agoBank of England’s extraordinary response to government policy is almost unthinkable | Ed Conway