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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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  • Spot Ethereum ETFs log largest outflows in one month as ETH price tumbles below $2,400 U.S. spot Ethereum ETFs saw their largest outflow since mid-May on Friday, before ether's price tumbled below $2,400 on Saturday. Spot Bitcoin ETFs, on the other hand, continued to set cumulative inflow records with a 9-day streak of net positive inflows. The Ethereum ETF outflows were led by a $19.7 million outflow from BlackRock's ETHA fund, the largest such fund on the market by assets under management (AUM). The fund still holds $4.03 billion worth of assets, a hair more than the total AUM of Grayscale's two funds — ETHE and ETH — which hold $4.02 billion combined, according to SoSoValue data. The outflows from BlackRock's fund were slightly offset by $6.6 million worth of inflows into Grayscale's ETH on Friday and $1.8 million in inflows to VanEck's ETHV fund, with an AUM of $114.8 million. The price of ETH is down about 5% over the past seven days, according to The Block's Ethereum Price page, dipping below $2,400 on Saturday afternoon. Despite the outflows, the ETH funds have logged around $840 million in cumulative net inflows since the start of the month. "The data suggests institutions remain constructive on crypto's medium-term upside, but Ethereum's catch-up phase appears to be over," BRN Lead Research Analyst Valentin Fournier told The Block recently. Bitcoin ETFs keep setting new cumulative inflow records While Ethereum funds bled, spot Bitcoin ETFs set a new cumulative inflow total high on Friday, the fifth straight day a new record has been set, according to SoSoValue data. The funds have logged $46.7 billion in cumulative net inflows. However, Friday's meager inflow of $6.4 million was the smallest inflow sum since June 6, which saw $47.8 million worth of outflows, signaling a possible reduction in demand for the BTC funds. BlackRock's IBIT, the market-leading fund, logged $46.9 million worth of inflows, while Fidelity's FBTC saw $40.6 million worth of outflows. Spot Bitcoin ETFs now account for around a quarter of global Bitcoin trading volume, The Block recently reported, though transactions on the actual Bitcoin blockchain are hitting 18-month lows. Speculative bets around Bitcoin-native protocols Runes and Ordinals have largely failed to pan out as demand cools.
  • Uniswap, Morpho and others collaborate on Web3SOC, a framework for determining a DeFi project's 'readiness for institutional partnerships' Some of Ethereum’s biggest application developers and security experts have contributed to Web3SOC, a new security and governance framework designed for compliance, unveiled on Friday. Uniswap Labs, Morpho, Maple Finance, Kiln, and Steakhouse Financial collaborated with security firms Cantina and Secureum on establishing a set of standards, with additional insights provided by investors, according to an announcement on Friday. In short, Web3SOC is a classification framework designed to enhance security and collaboration in decentralized finance (DeFi) by providing a structured methodology for institutions and organizations to evaluate the “maturity” of a project. The standards include a self-assessment tool to gauge readiness for institutional partnerships, as well as a set of “maturity tiers” for projects to determine whether they are prepared to be used by major institutions. The move comes amid a moment of revitalization for Ethereum, which has recently been pitching itself as the “settlement layer for the world” based on the idea that nearly all financial activity will eventually move onchain. This matured self-perception is bolstered by lobbying groups like Etherealize, which recently published a report claiming that ETH could maintain a long-term price of $740,000 per token, based on the idea that its “digital oil,” as well as a reformed Ethereum Foundation. Web3SOC’s maturity tiers range from 1 to 4, i.e., enterprise-grade to “nascent,” based on an organization’s operational, regulatory, security, and financial controls. The idea appears to be a play on the System and Organization Controls standards — like SOC 1 or SOC 2 — used to determine an organization's internal threat and confidentiality controls. For institutions, Web3SOC also offers a rigorous due diligence tool to evaluate DeFi organizations based on governance, security, financial stability, and regulatory compliance, according to the announcement.
  • Bitcoin transactions hit 18-month low as Runes and Ordinals hype fades Bitcoin's transaction activity has reached its quietest period in over a year and a half, with the 7-day moving average falling to 316,000 transactions last week before recovering slightly to around 350,000 currently. This represents a dramatic decline from the network's peak activity of over 700,000 daily transactions observed during the height of Bitcoin-based protocol adoption in mid-2024. The sharp downturn reflects the cooling of speculative activity around Bitcoin-native protocols, such as Runes and Ordinals, which previously drove substantial transaction volume through token-like functionality and NFT-style inscriptions. These protocols, which brought Ethereum-style applications to Bitcoin, have largely faded from mainstream attention as trader interest migrated to other blockchain ecosystems offering more native support for such activities. Transaction fees have remained consistently below $1.50 since the start of the year, indicating minimal competition for block space and a return to Bitcoin's traditional use cases for monetary transfers. The reduced activity has created an unexpected technical situation where some users are attempting to transact below Bitcoin Core's default relay floor of 1 satoshi per virtual byte (sat/vB). Mining pool MARA has begun operating a "Slipstream" pipeline specifically designed to process these non-standard, ultra-low-fee transactions that typical Bitcoin nodes would reject. This development has sparked debate within the Bitcoin development community about network standards and censorship resistance, with some arguing that filtering low-fee transactions contradicts the fundamental principles of Bitcoin. This is an excerpt from The Block's Data & Insights newsletter. Dig into the numbers making up the industry's most thought-provoking trends.
  • Hacker group claims leak of Nobitex source code as Iranian exchange’s stolen funds top $100 million Gonjeshke Darande, the pro-Israel hacker group that claims to be behind the attack on Iran's Nobitex crypto exchange yesterday, claims to have exposed what appears to be the platform's key source code information on the social media platform X. "Assets left in Nobitex are now entirely out in the open," the group wrote. The social media post included apparent screenshots of various essential codes of the platform for exchange deployment, privacy, user interface and others that could pose further security risks for the exchange. Nobitex was hacked earlier on Wednesday, with onchain sleuth ZachXBT reporting suspicious outflows from its wallets on Tron and EVM networks. Nobitex stated in its latest announcement that over $100 million in cryptocurrency was stolen, which was subsequently moved and destroyed by the attackers. "It is clear that the intention behind this attack was to harm the peace of mind and assets of our fellow citizens under false pretenses," Norbitex said. Shortly after the exploit became public, Gonjeshke Darande claimed responsibility for the attack, saying that Nobitex is a "key regime tool" for financing terrorism and violating sanctions. Gonjeshke Darande's alleged motive for the attack is connected to the broader conflict between Iran and Israel, which has escalated in recent months, including missile strikes targeting cities and strategic locations. Not just an exchange Meanwhile, onchain analytics platform Chainalysis stated in its Wednesday report that Nobitex plays an essential role in the country's sanctioned crypto space, with multiple ties to illicit activities. "Nobitex isn’t just a local exchange; it serves as a critical hub within Iran’s heavily sanctioned crypto ecosystem, enabling access to global markets for users cut off from traditional finance," Chainalysis wrote. Chainalysis added that past onchain investigations have linked Nobitex to illicit actors, including IRGC-affiliated ransomware operators and sanctioned Russian crypto exchanges. In response to the attack on Nobitex, Iranian authorities have imposed limits on local exchanges, allowing them to operate only between 10 a.m. and 8 p.m. local time, according to Chainalysis, which cited reports. "[The] exploit underscores the inherent tension between the borderless nature of cryptocurrency and the geopolitical realities of nation-state restrictions," Chainalysis wrote. Meanwhile, Nicholas Smart, VP of blockchain intelligence at Crystal Intelligence, said the hacker group's attack on Nobitex is "reckless" and "ignorant." "Crypto is massive in Iran and Nobitex is among the largest besides Bitpin and AbanTether," Smart said in a statement shared with The Block. "There is no way of knowing if the funds belonged to the IRGC." The Block has reached out to Nobitex for further comments. Article updated to add comments from Crystal Intelligence
  • Ohio House advances bill exempting sub-$200 crypto transactions from capital gains tax Ohio's House of Representatives has passed a bill that would make it easier for crypto owners to use their crypto assets for payments, advancing the legislation to the Senate for further consideration. The Ohio Blockchain Basics Act, also known as HB 116, passed the House in a 70-26 vote on Wednesday, a day after advancing through the Technology and Innovation Committee, according to the legislature's website. If enacted, the legislation would ensure that crypto asset holders can "easily use their digital currency to pay for goods and services in Ohio," the House said in a press release. HB 116 would prohibit local governments from imposing additional taxes or fees on individuals using cryptocurrency for legal services and would exempt transactions under $200 from capital gains taxes. The bill also seeks to protect crypto mining businesses from being unfairly targeted by government policies. "As digital commerce and privacy become even more important in the lives of Ohioans, it's crucial to ensure that the blockchain and digital asset industries can thrive not just anywhere, but here in the Buckeye State," said Representative Steve Demetriou, the bill's primary sponsor. Ohio is among several states reviewing crypto-related legislation focused on payments and state treasury management. At the federal level, the U.S. Senate passed the landmark GENIUS stablecoin bill on Tuesday, which now moves to the House for further consideration.
  • Treasury Secretary Bessent says Trump's crypto push will 'lock in' dollar supremacy U.S. Treasury Secretary Scott Bessent said Wednesday that President Donald Trump's embrace of crypto and stablecoins will cement the U.S. dollar's dominance globally. "Stablecoins could reinforce dollar supremacy because with stablecoins, stablecoins could end up being one of the largest buyers of U.S. Treasurys," said Bessent in an interview posted to X. "There's a very good chance crypto is actually one of the things that locks in dollar supremacy." Bessent's comments come a day after the Senate passed landmark stablecoin legislation. The House must now decide whether to take up the Senate's bill or support its own version, which the House Financial Services Committee voted to advance in April. Either way, President Trump, who is eager to move pro-innovation, crypto legislation along, has said he wants a stablecoin bill on his desk by August. With major traditional financial institutions poised to enter the stablecoin market, firms like JPMorgan Chase and Bank of America, along with some prominent voices, including Bessent, see the stablecoin market as set to grow into the trillions of dollars. Last week, Besent said that the U.S. dollar-backed stablecoin market has the potential to surpass $2 trillion within the next three years. Currently, the total supply of U.S. dollar-pegged stablecoins is about $240 billion, according to The Block Data Dashboard. Tether, which is based in El Salvador, is the market leader with its USDT stablecoin. Biden criticized Bessent also threw shade at Trump's predecessor, President Joe Biden, in the interview after being asked about the previous Commander-in-Chief's supposed efforts to "constrain" crypto. "I think constrain is too mild a word — I think make it extinct," Bessent replied. Crypto "is one of the most important phenomenons in the world and the U.S. just ignored it." Industry leaders widely viewed Biden’s administration as adversarial to the crypto and blockchain sector. Bessent is considered one of many Trump officials appointed by the current president who are bullish on U.S. prospects for driving crypto innovation around the world
  • Polygon co-founder spins off to launch independent zero-knowledge project ZisK Polygon co-founder Jordi Baylina and the team behind Polygon’s zkEVM have transitioned into an independent venture dubbed Zisk, just as the foundation prepares to wind down the underused zero-knowledge EVM network. ZisK will focus on a low-latency, open-source zkVM proving technology, Baylina said in a post on X. Blockchain provers are used to verify transactions or onchain data validity without revealing the underlying information. According to Zisk’s website, the project was incubated inside Polygon Labs from May 2024 until becoming standalone on June 13. The move follows last week’s leadership shake-up, which saw Polygon co-founder Sandeep Nailwal take over as CEO of the Polygon Foundation. Nailwal outlined plans to deprecate the zkEVM chain while pivoting resources to Polygon PoS and the Agglayer cross-chain aggregator. Critics say the decision is overdue. In a separate X thread, researcher and founder of the student-run RWTH blockchain, Lorenz Lehmann, noted Polygon bought Hermez for $250 million in 2021, rebranded it as zkEVM, and then "quietly abandoned" development, leaving the network to rack up more than $1 million in annual losses. As part of Zisk’s spin-off, all Polygon zkEVm intellectual property and its core team were transferred to SilentSig Switzerland GmbH, a company wholly owned by Baylina. He remains a co-founder of the Ethereum scaling solution and an advisor.
  • BTC ecosystem service firm Antalpha posts 423% YoY net income growth in Q1 Singapore-based fintech firm Antalpha, which focuses on the bitcoin mining ecosystem, saw its net income expand 423% year-over-year to $1.46 million in the first quarter of 2025. The company's unaudited first-quarter results, released Tuesday, showed total revenue rose 41% year-on-year to $13.6 million, up from $9.65 million. Antalpha provides digital asset lending, financing, and risk management solutions, primarily for bitcoin miners, through its Antalpha Prime platform. It is also a strategic partner of Bitmain. The company went public on the Nasdaq last month. In the release, the firm credited its Antalpha Prime platform as the key driver behind the profit growth. "The scalability of Antalpha Prime's fintech platform has enabled us to grow profitability faster than revenue," said Antalpha CFO Paul Liang. "On top of our strong core business, the company is exploring new areas of digital asset lending, including enabling our partners to provide Ethereum-collateralized loans and our clients to finance GPUs for AI inference computing.” Breaking down its revenue structure, the company generated $3.5 million in tech platform fees from bitcoin loans in the first quarter, marking a 286% year-on-year increase. It also recorded $10.1 million in tech financing fees from supply chain loans, up 15% over the same period. In its May IPO, Antalpha raised $56.7 million by issuing 4.4 million shares, with Tether acquiring 1.9 million shares for an 8.1% stake. The company also acquired $20 million in Tether Gold (XAUt) to hedge macroeconomic volatility and support its lending collateral pool. The fintech firm forecasted second-quarter revenue of $16 million to $17 million, subject to market uncertainties. Meanwhile, Antalpha shares closed down 4.69% on Tuesday at $12.19, but recovered 6.64% in after-hours trading, according to Google Finance data.
  • Paradigm defends Tornado Cash co-founder Roman Storm in amicus brief, warns case could impact US software development Prominent crypto venture capital firm Paradigm has filed an amicus curiae brief in support of Tornado Cash co-founder Roman Storm ahead of his trial set for July 14. In a blog post published Tuesday, Paradigm's chief legal officer and general counsel wrote that the firm filed the amicus brief on Friday, noting that Storm's case could "dictate the future of software development in the United States." Paradigm argued that prosecutors are wrong to claim Storm's peer-to-peer cryptocurrency software constitutes illegal money transmitting, calling the government's position "contrary to the plain text of the law, clear FinCEN guidance, and decades of case law." "The irrationality and unfairness of these charges cannot be overstated," Paradigm said. "The Treasury Department has long recognized that developers who publish software are not money transmitters." An amicus curiae brief, also known as a "friend of the court" filing, is a legal document that enables non-parties with a significant stake in the outcome of a case to present their arguments to the court. In the amicus brief, Paradigm argued the jury must find beyond a reasonable doubt that Storm knowingly operated a money-transmitting business, transmitted funds on behalf of the public, and knowingly handled the specific criminal proceeds alleged by prosecutors. "The jury must be correctly instructed that they cannot convict unless Storm knew the specific funds transmitted were derived from criminal activity," Paradigm said. Storm was charged in 2023 with conspiracy to commit money laundering and sanctions violations in operating Tornado Cash. Storm is currently fundraising for his legal defense ahead of his July 14 trial in New York, aiming to raise $2 million, according to a post on X. The Ethereum Foundation announced a $500,000 donation to support Storm on Friday. "I poured my soul into Tornado Cash — software that's non-custodial, trustless, permissionless, immutable, unstoppable," Storm said in a separate X post on Friday. "If I lose, DeFi dies with me. The dream of financial freedom, the code I believed in — it all fades into darkness." Last month, the prosecutors announced that they would drop part of Storm's charges related to an allegation of operating an unlicensed money-transmitting business. However, they plan to move forward with money laundering charges — some tied to unlicensed money transmitting — and a conspiracy charge for violating the International Emergency Economic Powers Act. The Treasury Department's Office of Foreign Assets Control sanctioned Tornado Cash in 2022, but the sanction was lifted in March of this year.
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