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Crypto Whale DataThis wallet account is Animalverse Club NFTs holder has been Verified

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Crypto Whale Data

@0x1d7a9641dcccfe07c722bede8b3c2221cc19d4caThis wallet account is Animalverse Club NFTs holder has been Verified

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  • Front-end and private key exploits drove over $2 billion in crypto thefts during H1 2025: report Hackers looted $2.1 billion from the cryptocurrency sector in the first half of 2025, and more than 80% of that haul stemmed from infrastructure attacks, blockchain intelligence firm TRM Labs said in a Thursday report. Private-key thefts, seed-phrase exploits, and front-end hijacks—often enabled by social-engineering or compromised insider access—averaged ten times the size of other exploits, according to TRM. DeFi flaws also remained a problem. Flash loans and re-entrancy exploits on smart contracts accounted for another 12 percent of losses, a sign of prevalent vulnerabilities in onchain protocols. The six-month tally already rivals all of 2024 and tops the previous H1 record from 2022 by about 10 percent. Notably, one large incident skewed the numbers; February’s $1.5 billion Bybit hack, which TRM attributes to North Korea. That single strike pushed the average hack size to $30 million, double last year’s pace. TRM estimates North Korea-linked groups stole $1.6 billion, or 70 percent of H1 totals, as the regime leans on crypto theft to fund weapons programs. The report also cites a June breach at Iran’s Nobitex exchange—carried out by the Israel-aligned hacker group Gonjeshke Darande—that resulted in $90 million being sent to “unspendable” wallets during a period of heightened geopolitical tension in the Middle East. To address the security issues plaguing the crypto industry, TRM urged protocols and services to enhance multi-factor authentication and improve cold storage. The firm also proposed tighter insider-threat defenses while law enforcement agencies boost cross-border coordination. Crypto also needs better industry-wide teamwork to sustain anti-theft efforts, TRM added. “The path forward requires multifaceted collaboration,” the report said. “H1 2025’s record thefts are a stark call to action for a collective, sustained, and strategically aligned security posture — one prepared not just for crime, but for covert acts of statecraft. Proactive information sharing and coordinated international approaches to prosecuting state-sponsored cybercriminals are paramount for effective deterrence.”
  • Bakkt looks to raise $1 billion to fund Bitcoin and digital asset treasury play Bakkt, the publicly traded crypto custody and loyalty rewards company, is looking to raise up to $1 billion through equity and debt offerings to fund a Bitcoin acquisition strategy, according to a prospectus filed with the U.S. Securities and Exchange Commission on Thursday. The shelf offering could include sales of Bakkt's Class A common stock, preferred stock, warrants, and debt securities. On June 10, Bakkt announced an updated investment policy "to allocate capital into Bitcoin and other digital assets as part of its broader treasury and corporate strategy." The firm has not yet made any crypto purchases, according to the SEC filing. "This initiative is intended to support Bakkt’s transformation into a pure-play crypto infrastructure company and to enable us to strategically add Bitcoin and other digital assets to our treasury,” Akshay Naheta, co-CEO of Bakkt, said at the time. “We believe this multi-pronged approach reflects our conviction in the future of digital assets and our vision for Bakkt’s expansion internationally and as a leader in the world of programmable money." Bakkt, founded in 2018, is joining a growing roster of so-called crypto treasury firms that offer investors a leveraged play on assets like Bitcoin, ETH, and SOL by funding digital asset purchases through traditional capital markets. The move would represent Bakkt’s latest strategic shift. The Atlanta-based firm, launched with support from NYSE operator Intercontinental Exchange, initially offered an institutional-grade trading platform for daily physically-settled Bitcoin futures — a product that struggled to get off the ground — before taking a swing at tokenizing rewards points and crypto custody. Bakkt went public in 2021. Bakkt’s first CEO, Kelly Loeffler, stepped down in 2019 to briefly become a Republican U.S. senator in Georgia under the first Trump administration. President Donald Trump’s social media company Truth Social was reportedly in “advanced talks” to acquire Bakkt last November.
  • Bitwise updates Dogecoin and Aptos ETF filings, analyst notes ‘huge’ addition of in-kind redemptions Bitwise on Thursday submitted updated S-1 filings with the U.S. Securities and Exchange Commission for its proposed spot Dogecoin and Aptos exchange-traded funds. The crypto asset manager was the first firm to file for a Dogecoin ETF in January and is the only issuer so far to file for an Aptos fund, which it applied for in March. "Good signs as it indicates SEC engagement, and tracks with other spot approvals," Bloomberg senior ETF analyst Eric Balchunas said in a post on X. Of note, the new filings mention in-kind creations and redemptions, which were nonexistent in Bitwise's initial filings. Balchunas noted that in-kind redemptions — where shares can be redeemed for the underlying assets held by a fund, rather than cash — are a "near-lock" for crypto funds "across board." Issuers and investors have been asking for months to allow for in-kind creations and redemptions, specifically for current spot Bitcoin ETFs that are currently on the market. "Those [forms] are going through the process now," SEC Commissioner Hester Peirce said Wednesday. "So I think that's something that's certainly on the horizon at some point. I can't prejudge, but we hear that there's a lot of interest." There are dozens of crypto-related ETF filings under SEC review, and Bloomberg analysts recently raised their odds of approval this year to 90%. Aptos is a Layer 1 blockchain developed by Aptos Labs, and the APT token is currently the 41st-largest cryptocurrency by market cap ($3 billion), according to The Block's data. Dogecoin has the ninth-largest market cap ($24 billion) among cryptocurrencies. Of note, spot Bitcoin ETFs' 12-day net inflow streak is nearing $4 billion, The Block previously reported, while total net inflows for the Ethereum funds stand at $4.2 billion.
  • Tether CEO predicts one trillion AI agents will use Bitcoin and USDT for transactions within 15 years Tether CEO Paolo Ardoino expects an explosion of machine-to-machine commerce and says the USDT stablecoin and Bitcoin will sit at its center. Speaking on The Block’s Big Brain podcast, Ardoino predicted that one trillion AI agents will eventually use blockchain-based assets to settle trades within 15 years. "I believe that in the future, every single AI agent will have a wallet, and it should be a self-custodial wallet. We are going to have one trillion agents in 15 years," Ardoino said, adding that it's unlikely legacy financial service providers like JPMorgan would onboard autonomous bots as customers. AI agents are autonomous software bots that will be able to interact with other machines without human oversight. Observers see these bots as vital to a maturing digital economy. Many expect AI agents to dominate online activity and to rely on cryptocurrencies as a means of exchange. Ardoino pointed to Tether’s wallet-development kit (WDK), launched last November, as a ready tool for non-custodial integration. "I don't think JPMorgan will open a bank account for any AI agent. So I think AI agents will use stablecoins and use Bitcoin to transact," Ardoino told The Block. He argued that USDT makes the most sense because traders already use it more than any other digital currency. A study last year by the U.S. Treasury Department noted that most crypto transaction volume flows through stablecoin pairs. There are over $243 billion worth of U.S. dollar-pegged stablecoins currently in circulation, The Block's data shows. More than half of that amount is dominated by Tether's USDT, with an over $155 billion market cap. Ardoino's predictions come amid a critical moment for the sector as the U.S. Congress considers two stablecoin bills, which could pass by the end of the summer. Treasury Secretary Scott Bessent said clear stablecoin rules could push the sector’s value above $2 trillion by 2028. Meanwhile, Tether has already pushed into artificial intelligence. The firm, which recently opened a headquarters in El Salvador, launched Tether Data in April 2024 to foster the development of open-source AI models. In May, the company unveiled Tether AI, which will "enable an unstoppable peer-to-peer network of billions of AI agents," Ardoino said at the time.
  • Bit Digital winds down Bitcoin mining operations, doubles down on Ethereum as latest ETH treasury play Bit Digital, the publicly traded mining and staking company founded in 2015, has announced a strategic shift to become "a pure-play" Ethereum staking and treasury company. As part of this transition, Bit Digital (ticker BTBT) said it will wind down its Bitcoin mining operations and redeploy the net proceeds into ETH. The move is part of a trend of firms launching crypto treasury strategies, which offer investors leveraged exposure to assets like BTC, ETH, and SOL. While many firms have historically held ETH on their balance sheets, there have been comparatively fewer Ethereum treasury plays — outside of Consensys founder Joe Lubin's recently announced SharpLink startup. As of the end of March, Bit Digital held 24,434.2 ETH and 417.6 BTC, valued at approximately $44.6 million and $34.5 million, respectively. It plans to convert its BTC holdings into ETH "over time." Bit Digital began accumulating and staking ETH in 2022 and "now operates one of the largest institutional Ethereum staking infrastructures globally," according to a statement. The company also offers validator infrastructure services, institutional-grade custody and yield solutions, and protocol governance guidance. Additionally, Bit Digital has announced a public offering of its ordinary shares to fund additional ETH purchases as well as a plan to spin out its wholly-owned HPC subsidiary, WhiteFiber Inc., via a public offering. BTBT closed down 3.7%, according to The Block’s data, and was down another 6% in after-hours trading. The Nasdaq-listed stock has a $488 million market cap.
  • Bernstein raises target for 'most misunderstood' crypto firm Coinbase to $510 as shares near all-time high Analysts at research and brokerage firm Bernstein have raised their price target for Coinbase (ticker COIN) stock to $510 from $310, based on a combination of higher earnings projections, new growth drivers, and a revised valuation framework. Coinbase is the only crypto-native firm in the S&P 500 index but remains the "most misunderstood" company in Bernstein's crypto coverage, analysts led by Gautam Chhugani said in a Wednesday note to clients. Chhugani cited the exchange's diversified business lines, including leading U.S. crypto trading, providing custody services for most Bitcoin exchange-traded fund issuers, and incubating Base, Ethereum's fastest-growing Layer 2 and a key hub for tokenization like JPMorgan Chase's proposed JPMD coin. The firm will also be a key beneficiary of U.S. stablecoin and crypto market structure legislation, Chhugani said. Coinbase earns revenue from Circle's USDC stablecoin and recently agreed to purchase derivatives exchange Deribit, an indication it plans to expand its offerings globally. "The bear thesis on Coinbase has not played out," the analysts wrote. "Coinbase's market share has been persistent despite new competition. Coinbase's take rate has held, while competition such as Robinhood have moved up their take rate equivalent to Coinbase (for advanced traders which is the price-sensitive segment). Traditional brokerage competition is several months away from launch, which is an eternity on crypto timelines. And we believe, the traditional crypto brokerage launches are likely not even going to be full suite products, which Coinbase offers." The 'Amazon of crypto financial services' Bernstein updated its model following Coinbase's Q1 2025 results to reflect stronger growth, especially from derivatives, staking, and stablecoin-related revenue. It now forecasts 2025 revenue of $9.5 billion, including around $4.2 billion from non-trading sources. The analysts' 2026 and 2027 estimates have also been revised upward to $12.7 billion and $14.1 billion, respectively, reflecting rising income across both trading and non-trading segments. The analysts also predict Coinbase's earnings per share will rise to $17.92 in 2026 and $20.38 in 2027 as operating leverage boosts profitability. Bernstein's $510 price target for COIN stock is based on a 25x end-of-2027 P/E multiple — in line with peers, the analysts said. Coinbase's stock is currently up 3.6% in early trading on Wednesday at $356.83, according to The Block's COIN price page — nearing its all-time closing high of $357.39 — with Bernstein's target implying upside potential of more than 40% over the next 12 months. Gautam Chhugani maintains long positions in various cryptocurrencies. Certain affiliates of Bernstein act as market makers or liquidity providers for Coinbase stock. Bernstein has long been bullish on Coinbase, and has previously predicted COIN could see $9 billion in passive inflows as the crypto market matures.
  • Bank for International Settlements argues stablecoins fail 'three key tests' The Bank for International Settlements said that stablecoins are not money. In a report published Tuesday, the BIS, sometimes called the “central bank for central banks” claimed that fiat-pegged digital assets fail “the three key tests” that would enable them to be the backbone of the monetary system: singleness, elasticity and integrity. “It remains to be seen what role innovations like stablecoins will play in the future monetary system,” BIS authors wrote in an annual report examining the next-generation finance. “But stablecoins do not stack up well against the three desirable characteristics of sound monetary arrangements and thus cannot be the mainstay of the future monetary system.” According to the authors, stablecoins do offer some advantages — like programmability, pseudonymity, and “easy access for new users.” Further, their “technological attributes mean they can potentially offer lower costs and faster transaction speed,” particularly for cross-border payments. However, when stacked up to the gold standard of central bank issuances and the instruments issued by commercial banks and other private sector entities stablecoins may introduce risks to the global financial system by undermining governmental monetary sovereignty (sometimes through “stealth dollarisation”) as well as facilitating crime, the authors allege. While stablecoins have a clear role as an on- and off-ramp to the crypto ecosystem as well as a growing presence in countries with high inflation, capital controls or limited access to dollar accounts, these assets should not be treated like cash. Three key tests Namely, stablecoins fail the elasticity test due to their construction. Because assets like Tether’s USDT is backed by a “nominally equivalent amount of assets” any “additional issuance requires full upfront payment by holders,” which imposes a “cash-in-advance constraint." Further, unlike central bank reserves, stablecoins do not pass monetary “singleness” — where money can be issued by different banks and accepted by all without hesitation — because they are typically issued by centralized entities that may set different standards and may not always share the same settlement guarantees. "Stablecoin holdings are tagged with the name of the issuer, much like private banknotes circulating in the 19th century Free Banking era in the United States. As such, stablecoins often trade at varying exchange rates, undermining singleness," the authors write. For similar reasons, stablecoins have "significant shortcomings when it comes to promoting the integrity of the monetary system," in that not all issuers will follow standardized KYC/AML guidelines or safeguard against financial crime. Transformative tokenization Circle, the issuer of USDC, saw its stock sink over 15% on Tuesday following publication of the BIS report. CRCL shares hit a record high of $299 on Monday, up over 600% from its initial public offering price of around $32. Despite the BIS’s concerns, the organization remains bullish on the potential for tokenization, which represents a “transformative innovation” for everything from cross-border payments to securities markets. “Tokenised platforms with central bank reserves, commercial bank money and government bonds at the centre can lay the groundwork for the next-generation monetary and financial system,” the authors wrote.
  • Democratic senator introduces bill targeting Trump’s crypto ties, seeking to ban officials from endorsing crypto projects Democrat Senator Adam Schiff introduced legislation on Monday, seeking to prohibit public officials, including the president and their immediate family, from issuing or endorsing crypto assets. In a statement released Monday, the senator said that the Curbing Officials’ Income and Nondisclosure (COIN) Act aims to bar top public officials from "issuing, sponsoring, or endorsing digital assets, including meme coins, NFTs, or stablecoins." The proposed prohibition would cover a 180-day period before and two years after an individual's term. Schiff's move to introduce the legislation, cosponsored by nine other Democratic senators, came just a week after he voted in favor of the GENIUS Act, a landmark stablecoin bill that had previously been halted due to scrutiny over Trump's crypto interests. The bill eventually passed with bipartisan support and advanced to the House of Representatives for further consideration. However, Schiff argued that Trump's crypto ventures have sparked considerable ethical, legal, and constitutional questions regarding his exploitation of presidential power for personal enrichment. "We need far greater scrutiny of the president’s financial dealings, and to stop him and any other politician from profiting off of such schemes," he said. Trump-tied World Liberty Financial has shown great ambition in expanding in the crypto space. It launched the USD1 stablecoin in March and recently airdropped the stablecoin to wallets that participated in the sale of the project's native token WLFI. USD1 currently has a market capitalization of $2.2 billion, according to CoinGecko data. According to Trump's latest financial disclosure, he made $57.35 million from World Liberty Financial's token sales in 2024. Several other lawmakers have also proposed legislation with a similar intent to Schiff’s bill. Dem. Representative Ritchie Torres, for example, introduced a bill last month seeking to "stop presidential profiteering from crypto." With Democrats in the minority in both the Senate and the House, it may take considerable work for these bills to advance effectively.
  • Benchmark hikes Coinbase price target to $421, citing 'transformational' catalysts Coinbase shares surged more than 23% last week amid a string of bullish headlines, and at least one analyst says the rally may just be getting started. Benchmark analyst Mark Palmer is doubling down on Coinbase (ticker COIN), calling recent developments around the crypto exchange "transformational" and hiking his price target to $421 from $301. Palmer reiterated his "buy" rating, pointing to a flurry of regulatory wins and product launches that he says could drive material revenue expansion and justify a higher multiple on earnings. The move comes a week after Cantor Fitzgerald analysts reiterated an “overweight” rating on Coinbase’s stock and raised their 12-month price target to $292 from $253, citing Coinbase's evolution "from being a cyclical cryptocurrency exchange to being a mission-critical infrastructure layer of crypto." Likewise, Palmer predicts a spate of product launches and the changing regulatory environment will support a period of "long-term growth" for the largest U.S.-based exchange. "The path to a meaningfully higher price for the stock is coming into view," Palmer wrote Monday in a note to clients. His updated target reflects a 35x multiple on Coinbase’s 2026 estimated earnings per share (EPS) of $12.03 — below Robinhood’s 47.1x, which Palmer notes is often used as a comparison. Key catalysts Among the key catalysts Palmer flagged was the U.S. Senate's bipartisan passage of the GENIUS Act, which would establish a legal framework for stablecoins. Coinbase, through its longstanding partnership with USDC issuer Circle, stands to directly benefit if the bill clears the House and is signed into law — a scenario that could play out by August. Relatedly, the analyst is bullish on Coinbase’s new Payments platform for USDC. Distinct from the company’s existing Commerce offering, Payments is aimed at embedding low-cost, 24/7 stablecoin transactions directly into apps and platforms — a move Palmer called a "scalable revenue stream" aligned with pending legislation. He also highlighted Coinbase’s partnership with Nodal Clear to use USDC as collateral in regulated U.S. futures markets — which would mark a first if approved — and pointed to the potential for the CLARITY Act in the House to clear up staking regulation. Under the market structure bill, staking wouldn’t be considered a securities offering, which Palmer says could significantly boost Coinbase’s institutional staking volumes. Palmer further noted a report that Coinbase is pushing to offer tokenized equities, calling the move a potential "game changer" if approved by the Securities and Exchange Commission. Coinbase Chief Legal Officer Paul Grewal described it as a “huge priority,” and it is another way the company could compete with legacy brokerages. "Coinbase is positioning itself at the center of crypto’s next regulatory and structural evolution," Palmer said, adding that the exchange's newly secured MiCA license will enable it to operate seamlessly across all 27 EU member states and several additional jurisdictions. . Coinbases shares traded around $306.34 at publication time, according to The Block's COIN price data.
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