Animalverse.social

Login Now

Create an account
  • Home
  • Blackmarketplace
  • Groups
  • Game
  • Watch
  • Jobs
  • Financial
  • Login
  • Register

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

Profile picture of Crypto Whale Data<span class="bp-verified-badge"></span>

Crypto Whale Data

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

Active 10 hours, 14 minutes ago
  • More7
    • Activity
    • Profile
    • Shop
    • Friends 1
    • Groups
    • Forums
    • Media 749
  • 1

    Friends

  • 0

    Groups

My photos
  • Coinbase acquires token operations startup Liquifi in fourth acquisition this year Coinbase has bought Liquifi, a San Francisco-based firm that automates token vesting, distribution, and compliance for crypto startups, in the U.S. exchange’s latest mergers and acquisitions push. Acquiring Liquifi will help Coinbase build an end-to-end issuance stack to ease the process of launching a token, which often involves tangled liquidity and regulatory hurdles, Greg Tusar, VP of Institutional Product, noted in a Wednesday announcement. “Liquifi solves these pain points by automating core workflows while reducing token launch risk,” Tusar wrote. “This acquisition will enable us to partner more effectively with builders earlier in their lifecycle – before tokens are launched or listed.” Coinbase said it would integrate Liquifi’s product suite into Coinbase Prime over time, providing corporate clients with a single venue to issue, custody, and service digital assets. Founded in 2021, Liquifi reportedly raised over $5 million in 2022 from investors like Dragonfly Capital and crypto bigwigs like Haun Ventures founder Katie Haun and Andreessen Horowitz general partner Balaji Srinivasan. The company says it oversees more than $8.5 billion in token value for over 100 customers, including the Uniswap Foundation, OP Labs, and Ethena. It claims it processed $1.7 billion in global token payouts last year. Financial terms of Liquifi’s purchase were not disclosed, but the deal marks Coinbase’s fourth takeover this year. That’s compared to its three acquisitions total in 2024. The deal extends Coinbase’s M&A streak following its record $2.9 billion Deribit acquisition announced in May. America’s largest publicly traded crypto exchange also acquired blockchain-native advertising firm Spindl and Iron Fish, a privacy-centric network. Coinbase stock closed 4% down on Tuesday, and traded around $340 per share in Wednesday’s pre-market hours, according to Yahoo Finance data.
  • Ethereum Community Foundation raises 'millions' to drive value to ETH by funding 'immutable and tokenless' projects The Ethereum ecosystem is getting additional support from a newly launched organization called the Ethereum Community Foundation, according to an announcement from Zak Cole on X. The foundation’s mandate is to support the institutional adoption of Ethereum infrastructure and, ultimately, drive up the price of ETH. Cole told The Block in a direct message that the organization has so far raised millions of dollars worth of ETH, which will be distributed to projects building credibly neutral tech. "We already have a treasury that consists of eth contributed by individual supporters," he said. "All supported integrations must contribute to ETH burn. This aligns institutional throughput with ETH holder value. By prioritizing mechanisms that reduce ETH supply, we ensure that adoption strengthens the monetary integrity of the network," the project wrote on its website. Every project the ECF backs must also be "immutable and tokenless." In particular, the foundation is looking to back real-world asset applications that bring stocks, bonds, real estate, and other assets onchain. It will also look at projects contributing to “public goods,” including fixing mispriced blob space. "Coin voting will dictate grant distribution," Cole said, noting that "all funding decisions and discussions [are] 100% transparent." “Every grant is public. Every project commits to ETH alignment. Every dollar moves the number,” Cole said in an address at the Ethereum Community Conference in Cannes, France. According to Cole’s presentation, the ECF’s first initiative will be the so-called “Ethereum Validator Association,” which aims to give network validators “a say in development” using staked ETH to signal their preferences. The EVA will also fund validator infrastructure. It is unclear who currently supports the effort. Cole noted that additional information will come out in the coming weeks. The Ethereum Community Foundation is being launched amid a period of reorganization for the Ethereum ecosystem, including a dramatic executive shakeup at the Ethereum Foundation and the formation of Etherealize, an institutional marketing and product firm led by Vivek Raman and former EF developer Danny Ryan. After losing market share to competitors like Solana, Ethereum’s spiritual leaders are attempting to transform the network’s public image as well as redirect attention toward the Ethereum mainnet, rather than its ecosystem of Layer 2s. As part of its mandate, the Ethereum Community Foundation will also interact with governments, regulators, and policymakers. "We hoped the EF would course correct, they didn't," Cole said. "So we’re stepping up. We fund projects that burn ETH. We enforce immutability. We reject token games. We align incentives. We show up where Ethereum [Foundation] is missing. This isn’t a fork in the code, it’s a fork in priorities."
  • Bitwise sticks to $200,000 bitcoin forecast for 2025, but tempers ETH and SOL outlook At the halfway point of the year, Bitwise reiterated its call for BTC to reach $200,000 by the end of 2025, but is less sure about new highs for ETH and SOL being on the cards. "It's been a mixed year for crypto asset prices. Bitcoin hit a new all-time high of $112,000 in May thanks to strong ETF flows, growing demand from bitcoin treasury companies, and the creation of a U.S. strategic bitcoin reserve," Bitwise CIO Matt Hougan and Head of Research Ryan Rasmussen said in a Tuesday note to clients, reflecting on a range of predictions the asset manager made for 2025 back in December. "But Ethereum and Solana are down year-to-date, and macro risks have kept the bull market from kicking into overdrive." However, the pair said Bitwise remains optimistic about the prospects for H2 as progress on crypto legislation, growing institutional demand, and stablecoin adoption fuel a strong environment for gains. "The Bottom Line: We're holding firm to our BTC $200k prediction, as there is simply too much institutional demand for BTC to keep prices flat for long," Hougan wrote. "We're less confident on ETH and SOL but hope that rising interest in stablecoins, ETF approvals, and the emergence of ETH and SOL treasury companies can drive prices substantially higher." Bitwise's 2025 crypto predictions — some hits, some misses, and a few still in play Among its other predictions for 2025, Bitwise said its call for Bitcoin ETFs to surpass 2024's $35 billion in net inflows remains alive, with major wealth platforms now opening access that could unlock trillions in capital. Year-to-date inflows currently stand at $13.8 billion, according to data compiled by The Block. With stablecoin assets jumping 30% to $260 billion and tokenized real-world assets nearly doubling to $25 billion, both are also on track to reach Bitwise's respective $400 billion and $50 billion targets — if momentum holds through year-end, the firm said. On the regulatory front, Bitwise scored prediction wins already after the Department of Labor rescinded its crypto restrictions on 401(k) plans, and Coinbase and Strategy secured spots in the S&P 500 and Nasdaq-100, respectively, bringing crypto exposure to nearly every passive U.S. investor. Meanwhile, the crypto IPO boom is unfolding even faster than expected, led by Circle, Webull, and eToro, with Bitwise's prediction of at least five crypto unicorns going public in the U.S. this year "almost guaranteed," Hougan and Rasmussen said. However, not all of Bitwise's bets are paying off. The memecoin mania fizzled in Q1, led by the "spectacular blowout" of TRUMP and MELANIA and the "scandalous implosion" of Argentinian President Javier Milei's LIBRA coin, Hougan acknowledged, making its prediction that tokens launched by AI agents will spearhead a memecoin frenzy even bigger than in 2024 highly unlikely. Bitwise's call that Coinbase will surpass Charles Schwab as the most valuable brokerage in the world, and its stock will top $700, also looks like a stretch for 2025. Finally, its prediction that the number of countries holding bitcoin will double from 9 to 18 seems unlikely too, but could be close after the United Arab Emirates revealed a $400 million bitcoin stash in February, and Pakistan announced the creation of a bitcoin reserve in May, Bitwise said. "It should be an exciting H2," Hougan and Rasmussen added.
  • Crypto lending protocol Maple integrates EtherFi’s weETH as collateral Crypto lending protocol Maple has added EtherFi’s weETH as collateral for its onchain credit platform, according to an announcement on Monday. The integration will allow "qualified borrowers to access USDC loans while earning ETHFI incentives," the startup said in a statement. Maple is a decentralized credit protocol that offers under- and over-collateralized loans. The platform, launched on Ethereum in 2021, connects borrowers with lenders through onchain liquidity pools. The platform will incentivize its new weETH pools by offering a limited-time 2% APY rebate in ETHFI for the first $50 million in loans backed by the token. The loans will be overcollateralized, carry a 2-month term, and require a $5 million minimum size, according to the statement. "As staking continues to mature, we’re seeing restaked assets like weETH take on a more central role in how institutional capital allocates onchain," Maple CEO Sid Powell said in a release. "This integration reflects our long-term view that staking is not just a yield source, but a foundation for the next generation of collateral and credit markets." weETH is one of the most widely used assets across DeFi for restaking, the process of using the same asset to secure multiple protocols. The token has a $5.3 billion circulating supply, approximately 75% of which is deployed as collateral in protocols like Aave.
  • Kazakhstan plans national cryptocurrency reserve using seized assets, state-mined coins Kazakhstan will establish a state cryptocurrency reserve under a National Bank affiliate, financing the plan with assets seized in criminal cases and coins mined by state-owned operations, Central Bank Governor Timur Suleimenov said, according to a report by Kazinform. The regulator is drafting rules that follow sovereign-wealth best practices, including a single-manager setup, transparent books, and audited, secure storage. Suleimenov argued that a single custodian shields public assets from market swings and hacks. He expects ministries and law enforcement to hammer out the final framework, but shared no launch date or target size as of the time of writing. The move extends Kazakhstan’s push into regulated digital finance. The country controls about 13% of global Bitcoin hashrate and has imposed licensing rules on miners after officials seized nearly $200 million in illegal rigs following power shortages in 2022. Elsewhere, public treasuries worldwide now eye crypto. The United States weighs a Strategic Bitcoin Reserve, while Arizona, Ohio, and Texas have already passed bills to hold BTC. On the non-sovereign isle, companies like Strategy, Metaplanet, and Gamestop, to name a few, have raised capital through equity and debt to stockpile Bitcoin. Additionally, firms such as SharpLink and DeFi Development Corp have employed similar accounting techniques to access funds for corporate treasuries, utilizing assets like Ether and Solana, respectively.
  • Two-thirds of Koreans want to invest more in crypto as won-based stablecoin hype builds: Survey South Korean crypto investors of all ages are planning to increase their crypto holdings as the country's newly elected President promises to foster won-based stablecoin adoption, boosting the country's stock market to become the best-performing in the region. A recent survey of 1,000 South Koreans aged 20-59, conducted by the Hana Financial Research Institute, found that 27% of respondents already own digital assets, yet 70% of respondents (and 86% of current holders) plan to buy more crypto in the next year. Though crypto is typically associated with younger investors, the survey found the largest ownership share among investors in their 40s, at 31% of all current crypto holders. Korean men are about twice as likely as Korean women to hold digital assets today, with the gap persisting across age bands. While younger investors said they were primarily interested in high-risk, high-reward trading, over half of investors in their 50s, on the other hand, said planning for retirement was the primary driver for their crypto adoption. Two-thirds of respondents said their primary concern was market volatility, and although half of respondents admitted to holding funds on exchange hot wallets, only one-third of respondents were concerned with security risks. Stablecoin stocks surge The increasing adoption of digital assets in the country coincides with a surge in retail investor interest in companies that are angling to issue won-based stablecoins, following a pledge to legalize such assets from recently elected President Lee Jae Myung, who took office near the start of June. The initiative "is expected to yield several economic benefits such as reducing trade costs, diversifying foreign exchange risks, and increasing global investment into the local economy," lawmaker Min Byeong-deok, Lee's head of digital assets during the campaign, recently told The Block. A parliamentary bill proposed by the ruling party this month mirrors the GENIUS Act currently making its way through the U.S. government in that it would allow companies to issue their own stablecoins. In Korea, companies with as little as 500 million KRW equity capital (or around $367,000 USD) would be allowed to issue won-based stablecoins. Under the GENIUS Act, no such minimum exists, but issuers with a market cap of over $10 billion would be subject to more stringent regulatory oversight. South Korea's KOSPI Composite stock market index is currently near its four-year high, making South Korea the best-performing market in Asia so far in 2025, partly thanks to a rally around stocks that have been involved with the Bank of Korea's digital assets project, according to a recent FT report. Koreans' interest in stablecoins has also spread beyond its borders; Bloomberg recently reported that following its IPO, Circle has become the top overseas stock for South Korean investors, who have collectively poured $443 million into the USDC stablecoin issuer. The stock of KakaoPay Corp, expected to benefit from friendly crypto regulation in the country, has increased by 134% over the past month, according to Yahoo Finance data.
  • Two-thirds of Koreans want to invest more in crypto as won-based stablecoin hype builds: Survey South Korean crypto investors of all ages are planning to increase their crypto holdings as the country's newly elected President promises to foster won-based stablecoin adoption, boosting the country's stock market to become the best-performing in the region. A recent survey of 1,000 South Koreans aged 20-59, conducted by the Hana Financial Research Institute, found that 27% of respondents already own digital assets, yet 70% of respondents (and 86% of current holders) plan to buy more crypto in the next year. Though crypto is typically associated with younger investors, the survey found the largest ownership share among investors in their 40s, at 31% of all current crypto holders. Korean men are about twice as likely as Korean women to hold digital assets today, with the gap persisting across age bands. While younger investors said they were primarily interested in high-risk, high-reward trading, over half of investors in their 50s, on the other hand, said planning for retirement was the primary driver for their crypto adoption. Two-thirds of respondents said their primary concern was market volatility, and although half of respondents admitted to holding funds on exchange hot wallets, only one-third of respondents were concerned with security risks. Stablecoin stocks surge The increasing adoption of digital assets in the country coincides with a surge in retail investor interest in companies that are angling to issue won-based stablecoins, following a pledge to legalize such assets from recently elected President Lee Jae Myung, who took office near the start of June. The initiative "is expected to yield several economic benefits such as reducing trade costs, diversifying foreign exchange risks, and increasing global investment into the local economy," lawmaker Min Byeong-deok, Lee's head of digital assets during the campaign, recently told The Block. A parliamentary bill proposed by the ruling party this month mirrors the GENIUS Act currently making its way through the U.S. government in that it would allow companies to issue their own stablecoins. In Korea, companies with as little as 500 million KRW equity capital (or around $367,000 USD) would be allowed to issue won-based stablecoins. Under the GENIUS Act, no such minimum exists, but issuers with a market cap of over $10 billion would be subject to more stringent regulatory oversight. South Korea's KOSPI Composite stock market index is currently near its four-year high, making South Korea the best-performing market in Asia so far in 2025, partly thanks to a rally around stocks that have been involved with the Bank of Korea's digital assets project, according to a recent FT report. Koreans' interest in stablecoins has also spread beyond its borders; Bloomberg recently reported that following its IPO, Circle has become the top overseas stock for South Korean investors, who have collectively poured $443 million into the USDC stablecoin issuer. The stock of KakaoPay Corp, expected to benefit from friendly crypto regulation in the country, has increased by 134% over the past month, according to Yahoo Finance data.
  • Vitalik Buterin warns Sam Altman's World digital IDs risk killing pseudonymity online Ethereum co-founder Vitalik Buterin has some concerns related to digital identity projects like World, which claims to have signed up more than 13 million "unique humans." In a post published Saturday, Buterin chose to specifically discuss the risks and rewards of digital ID projects which utilize zero-knowledge proofs. While the popular thought leader had much to say on the matter, one of his major assertions is that projects like World (formerly Worldcoin), which is famously backed by OpenAI CEO Sam Altman, could kill off the pseudonymity that so many internet users enjoy, especially in the crypto space. "Under one-per-person ID, even if ZK-wrapped, we risk coming closer to a world where all of your activity must de-facto be under a single public identity," Buterin wrote in his post. "In a world of growing risk (eg. drones), taking away the option for people to protect themselves through pseudonymity has significant downsides." World is a digital identity project primarily developed and promoted by Tools for Humanity, which was co-founded by Altman and CEO Alex Blania. Users who have their eyeball scanned to prove they are human are given both a World ID and a crypto bonus in the form of WLD tokens. The biometric data collected by World's silvery Orbs to create a digital identity is protected, in part, by using zero-knowledge proofs, a solution also called ZK wrapping, which allows a user to prove something is true (like being a human) without revealing the underlying data (their actual identity). Buterin acknowledges in his post that digital identity initiatives which use zero-knowledge proofs appear to be going mainstream, mentioning not only World, but also both European Union and Taiwanese initiatives. While Buterin sees downsides to any one-ID-for-each-person system, he admitted there are benefits, such as helping to discern from AI-powered agents. One of World's biggest selling points is the notion that it can make the internet a better place by helping users know which other users are human and which are not. "On the surface, widespread adoption of ZK-wrapped digital ID seems like it would be a great victory ... protecting our social media, voting, and all kinds of internet services against manipulation from sybils and bots, all without compromising on privacy," he wrote. But to take advantage of pseudonymity, one needs to be able to do things like possess and manage multiple email and social media accounts. ZK-wrapped, digital identity projects like World, could put pseudonymity in jeopardy if implemented rigidly, argues Buterin. "In this world, social media apps ... will just use one app-specific ID for each user, and because the ID system is one-per-person, each user will only be able to have one account (as opposed to "weak ID" like eg. Google accounts today, where it's reasonably feasible for an average person to get ~5 accounts)," Buterin added. World, which for months after launching triggered criticism among privacy advocates across the globe, has gained momentum lately. The project recently launched in the United States and plans a Visa card. It also has a pilot program lined up with Tinder in Japan that would provide users with greater clarity about the identities of those they are interacting with on the dating app. Instead of a single ZK-wrapped "one-per-person ID" solution, Buterin suggests using a pluralistic model where no one person, institution or platform is in charge of issuing digital identities.
  • Operator behind sham crypto firms EmpowerCoin, ECoinPlus, and Jet-Coin sentenced to 8 years in prison Dwayne Golden, a 57-year-old man from Pennsylvania, was sentenced to 97 months, or about eight years, in prison for his role in operating crypto schemes defrauding $40 million from investors, according to a release from the United States Department of Justice. Golden, as well as co-conspirators Gregory Aggesen and Marquis Demacking Egerton, ran the crypto firms EmpowerCoin, ECoinPlus, and Jet-Coin between April 2017 and August 2017. These firms promised investors fixed returns on digital asset investments through purported overseas operations. The defendants raised over $40 million, which they used to repay existing investors or themselves in what the Department of Justice describes as a "Ponzi scheme." "Dwayne Golden and his co-conspirators took advantage of investor interest in exciting new technologies to perpetrate a fraud scheme that is as old as time, and to make millions of dollars for themselves in the process," said U.S. Attorney Joseph Nocella in a statement. "Golden and his co-defendants offered no legitimate services and none of the companies engaged in any actual trading in cryptocurrency as they claimed." Once the firms collapsed, Golden, Aggesen, and another co-conspirator William White conspired to obstruct federal investigations by destroying evidence, in addition to providing false or misleading information to the Federal Trade Commission and a federal grand jury subpoena between July 2017 to March 2022, the release continues. Golden must also forfeit about $2.46 million in illicitly procured assets along with serving 97 months in prison. All four defendants pleaded guilty, with White receiving a 30-month (2.5-year) prison sentence and Aggesen and Egerton awaiting sentencing as of June 27. Golden, along with Aggesen and Egerton, were first charged with fraud, money laundering, and other financial crimes in March 2022 for their role in operating EmpowerCoin, ECoinPlus, and Jet-Coin. While cryptocurrency-based Ponzi schemes still cost investors millions, bad actors are increasingly opting for more targeted "pig butchering" and address poisoning financial crimes instead, The Block previously reported.
    • All749
    • Albums1
    • Photos749
    • Videos0
    • Music0

Create an Album

Please login

You need to be logged in to upload Media or to create Album.

Click HERE to login.

Upload

All Photos

  • coinbase-acquires-token-operations-startup-liquifi-in-fourth-acquisition-this-year-coinbase-has-bought-liquifi-a-san-francisco-based-firm-that-automates-token-vesting-distribution-and-compliance-fo

    Coinbase acquires token operations startup Liquifi in fourth acquisition this year Coinbase has bought Liquifi, a San Francisco-based firm that automates token vesting, distribution, and compliance for crypto startups, in the U.S. exchange’s latest mergers and acquisitions push. Acquiring Liquifi will help Coinbase build an end-to-end issuance stack to ease the process of launching a token, which often involves tangled liquidity and regulatory hurdles, Greg Tusar, VP of Institutional Product, noted in a Wednesday announcement. “Liquifi solves these pain points by automating core workflows while reducing token launch risk,” Tusar wrote. “This acquisition will enable us to partner more effectively with builders earlier in their lifecycle – before tokens are launched or listed.” Coinbase said it would integrate Liquifi’s product suite into Coinbase Prime over time, providing corporate clients with a single venue to issue, custody, and service digital assets. Founded in 2021, Liquifi reportedly raised over $5 million in 2022 from investors like Dragonfly Capital and crypto bigwigs like Haun Ventures founder Katie Haun and Andreessen Horowitz general partner Balaji Srinivasan. The company says it oversees more than $8.5 billion in token value for over 100 customers, including the Uniswap Foundation, OP Labs, and Ethena. It claims it processed $1.7 billion in global token payouts last year. Financial terms of Liquifi’s purchase were not disclosed, but the deal marks Coinbase’s fourth takeover this year. That’s compared to its three acquisitions total in 2024. The deal extends Coinbase’s M&A streak following its record $2.9 billion Deribit acquisition announced in May. America’s largest publicly traded crypto exchange also acquired blockchain-native advertising firm Spindl and Iron Fish, a privacy-centric network. Coinbase stock closed 4% down on Tuesday, and traded around $340 per share in Wednesday’s pre-market hours, according to Yahoo Finance data.

    Profile Photo

    Crypto Whale Data
  • ethereum-community-foundation-raises-millions-to-drive-value-to-eth-by-funding-immutable-and-tokenless-projects-the-ethereum-ecosystem-is-getting-additional-support-from-a-newly-launched-organ

    Ethereum Community Foundation raises 'millions' to drive value to ETH by funding 'immutable and tokenless' projects The Ethereum ecosystem is getting additional support from a newly launched organization called the Ethereum Community Foundation, according to an announcement from Zak Cole on X. The foundation’s mandate is to support the institutional adoption of Ethereum infrastructure and, ultimately, drive up the price of ETH. Cole told The Block in a direct message that the organization has so far raised millions of dollars worth of ETH, which will be distributed to projects building credibly neutral tech. "We already have a treasury that consists of eth contributed by individual supporters," he said. "All supported integrations must contribute to ETH burn. This aligns institutional throughput with ETH holder value. By prioritizing mechanisms that reduce ETH supply, we ensure that adoption strengthens the monetary integrity of the network," the project wrote on its website. Every project the ECF backs must also be "immutable and tokenless." In particular, the foundation is looking to back real-world asset applications that bring stocks, bonds, real estate, and other assets onchain. It will also look at projects contributing to “public goods,” including fixing mispriced blob space. "Coin voting will dictate grant distribution," Cole said, noting that "all funding decisions and discussions [are] 100% transparent." “Every grant is public. Every project commits to ETH alignment. Every dollar moves the number,” Cole said in an address at the Ethereum Community Conference in Cannes, France. According to Cole’s presentation, the ECF’s first initiative will be the so-called “Ethereum Validator Association,” which aims to give network validators “a say in development” using staked ETH to signal their preferences. The EVA will also fund validator infrastructure. It is unclear who currently supports the effort. Cole noted that additional information will come out in the coming weeks. The Ethereum Community Foundation is being launched amid a period of reorganization for the Ethereum ecosystem, including a dramatic executive shakeup at the Ethereum Foundation and the formation of Etherealize, an institutional marketing and product firm led by Vivek Raman and former EF developer Danny Ryan. After losing market share to competitors like Solana, Ethereum’s spiritual leaders are attempting to transform the network’s public image as well as redirect attention toward the Ethereum mainnet, rather than its ecosystem of Layer 2s. As part of its mandate, the Ethereum Community Foundation will also interact with governments, regulators, and policymakers. "We hoped the EF would course correct, they didn't," Cole said. "So we’re stepping up. We fund projects that burn ETH. We enforce immutability. We reject token games. We align incentives. We show up where Ethereum [Foundation] is missing. This isn’t a fork in the code, it’s a fork in priorities."

    Profile Photo

    Crypto Whale Data
  • bitwise-sticks-to-200000-bitcoin-forecast-for-2025-but-tempers-eth-and-sol-outlook-at-the-halfway-point-of-the-year-bitwise-reiterated-its-call-for-btc-to-reach-200000-by-the-end-of-2025-but-is

    Bitwise sticks to $200,000 bitcoin forecast for 2025, but tempers ETH and SOL outlook At the halfway point of the year, Bitwise reiterated its call for BTC to reach $200,000 by the end of 2025, but is less sure about new highs for ETH and SOL being on the cards. "It's been a mixed year for crypto asset prices. Bitcoin hit a new all-time high of $112,000 in May thanks to strong ETF flows, growing demand from bitcoin treasury companies, and the creation of a U.S. strategic bitcoin reserve," Bitwise CIO Matt Hougan and Head of Research Ryan Rasmussen said in a Tuesday note to clients, reflecting on a range of predictions the asset manager made for 2025 back in December. "But Ethereum and Solana are down year-to-date, and macro risks have kept the bull market from kicking into overdrive." However, the pair said Bitwise remains optimistic about the prospects for H2 as progress on crypto legislation, growing institutional demand, and stablecoin adoption fuel a strong environment for gains. "The Bottom Line: We're holding firm to our BTC $200k prediction, as there is simply too much institutional demand for BTC to keep prices flat for long," Hougan wrote. "We're less confident on ETH and SOL but hope that rising interest in stablecoins, ETF approvals, and the emergence of ETH and SOL treasury companies can drive prices substantially higher." Bitwise's 2025 crypto predictions — some hits, some misses, and a few still in play Among its other predictions for 2025, Bitwise said its call for Bitcoin ETFs to surpass 2024's $35 billion in net inflows remains alive, with major wealth platforms now opening access that could unlock trillions in capital. Year-to-date inflows currently stand at $13.8 billion, according to data compiled by The Block. With stablecoin assets jumping 30% to $260 billion and tokenized real-world assets nearly doubling to $25 billion, both are also on track to reach Bitwise's respective $400 billion and $50 billion targets — if momentum holds through year-end, the firm said. On the regulatory front, Bitwise scored prediction wins already after the Department of Labor rescinded its crypto restrictions on 401(k) plans, and Coinbase and Strategy secured spots in the S&P 500 and Nasdaq-100, respectively, bringing crypto exposure to nearly every passive U.S. investor. Meanwhile, the crypto IPO boom is unfolding even faster than expected, led by Circle, Webull, and eToro, with Bitwise's prediction of at least five crypto unicorns going public in the U.S. this year "almost guaranteed," Hougan and Rasmussen said. However, not all of Bitwise's bets are paying off. The memecoin mania fizzled in Q1, led by the "spectacular blowout" of TRUMP and MELANIA and the "scandalous implosion" of Argentinian President Javier Milei's LIBRA coin, Hougan acknowledged, making its prediction that tokens launched by AI agents will spearhead a memecoin frenzy even bigger than in 2024 highly unlikely. Bitwise's call that Coinbase will surpass Charles Schwab as the most valuable brokerage in the world, and its stock will top $700, also looks like a stretch for 2025. Finally, its prediction that the number of countries holding bitcoin will double from 9 to 18 seems unlikely too, but could be close after the United Arab Emirates revealed a $400 million bitcoin stash in February, and Pakistan announced the creation of a bitcoin reserve in May, Bitwise said. "It should be an exciting H2," Hougan and Rasmussen added.

    Profile Photo

    Crypto Whale Data
  • crypto-lending-protocol-maple-integrates-etherfis-weeth-as-collateral-crypto-lending-protocol-maple-has-added-etherfis-weeth-as-collateral-for-its-onchain-credit-platform-according

    Crypto lending protocol Maple integrates EtherFi’s weETH as collateral Crypto lending protocol Maple has added EtherFi’s weETH as collateral for its onchain credit platform, according to an announcement on Monday. The integration will allow "qualified borrowers to access USDC loans while earning ETHFI incentives," the startup said in a statement. Maple is a decentralized credit protocol that offers under- and over-collateralized loans. The platform, launched on Ethereum in 2021, connects borrowers with lenders through onchain liquidity pools. The platform will incentivize its new weETH pools by offering a limited-time 2% APY rebate in ETHFI for the first $50 million in loans backed by the token. The loans will be overcollateralized, carry a 2-month term, and require a $5 million minimum size, according to the statement. "As staking continues to mature, we’re seeing restaked assets like weETH take on a more central role in how institutional capital allocates onchain," Maple CEO Sid Powell said in a release. "This integration reflects our long-term view that staking is not just a yield source, but a foundation for the next generation of collateral and credit markets." weETH is one of the most widely used assets across DeFi for restaking, the process of using the same asset to secure multiple protocols. The token has a $5.3 billion circulating supply, approximately 75% of which is deployed as collateral in protocols like Aave.

    Profile Photo

    Crypto Whale Data
  • kazakhstan-plans-national-cryptocurrency-reserve-using-seized-assets-state-mined-coins-kazakhstan-will-establish-a-state-cryptocurrency-reserve-under-a-national-bank-affiliate-financing-the-plan-wit

    Kazakhstan plans national cryptocurrency reserve using seized assets, state-mined coins Kazakhstan will establish a state cryptocurrency reserve under a National Bank affiliate, financing the plan with assets seized in criminal cases and coins mined by state-owned operations, Central Bank Governor Timur Suleimenov said, according to a report by Kazinform. The regulator is drafting rules that follow sovereign-wealth best practices, including a single-manager setup, transparent books, and audited, secure storage. Suleimenov argued that a single custodian shields public assets from market swings and hacks. He expects ministries and law enforcement to hammer out the final framework, but shared no launch date or target size as of the time of writing. The move extends Kazakhstan’s push into regulated digital finance. The country controls about 13% of global Bitcoin hashrate and has imposed licensing rules on miners after officials seized nearly $200 million in illegal rigs following power shortages in 2022. Elsewhere, public treasuries worldwide now eye crypto. The United States weighs a Strategic Bitcoin Reserve, while Arizona, Ohio, and Texas have already passed bills to hold BTC. On the non-sovereign isle, companies like Strategy, Metaplanet, and Gamestop, to name a few, have raised capital through equity and debt to stockpile Bitcoin. Additionally, firms such as SharpLink and DeFi Development Corp have employed similar accounting techniques to access funds for corporate treasuries, utilizing assets like Ether and Solana, respectively.

    Profile Photo

    Crypto Whale Data
  • two-thirds-of-koreans-want-to-invest-more-in-crypto-as-won-based-stablecoin-hype-builds-survey-south-korean-crypto-investors-of-all-ages-are-planning-to-increase-their-crypto-holdings-as-the-country-2

    Two-thirds of Koreans want to invest more in crypto as won-based stablecoin hype builds: Survey South Korean crypto investors of all ages are planning to increase their crypto holdings as the country's newly elected President promises to foster won-based stablecoin adoption, boosting the country's stock market to become the best-performing in the region. A recent survey of 1,000 South Koreans aged 20-59, conducted by the Hana Financial Research Institute, found that 27% of respondents already own digital assets, yet 70% of respondents (and 86% of current holders) plan to buy more crypto in the next year. Though crypto is typically associated with younger investors, the survey found the largest ownership share among investors in their 40s, at 31% of all current crypto holders. Korean men are about twice as likely as Korean women to hold digital assets today, with the gap persisting across age bands. While younger investors said they were primarily interested in high-risk, high-reward trading, over half of investors in their 50s, on the other hand, said planning for retirement was the primary driver for their crypto adoption. Two-thirds of respondents said their primary concern was market volatility, and although half of respondents admitted to holding funds on exchange hot wallets, only one-third of respondents were concerned with security risks. Stablecoin stocks surge The increasing adoption of digital assets in the country coincides with a surge in retail investor interest in companies that are angling to issue won-based stablecoins, following a pledge to legalize such assets from recently elected President Lee Jae Myung, who took office near the start of June. The initiative "is expected to yield several economic benefits such as reducing trade costs, diversifying foreign exchange risks, and increasing global investment into the local economy," lawmaker Min Byeong-deok, Lee's head of digital assets during the campaign, recently told The Block. A parliamentary bill proposed by the ruling party this month mirrors the GENIUS Act currently making its way through the U.S. government in that it would allow companies to issue their own stablecoins. In Korea, companies with as little as 500 million KRW equity capital (or around $367,000 USD) would be allowed to issue won-based stablecoins. Under the GENIUS Act, no such minimum exists, but issuers with a market cap of over $10 billion would be subject to more stringent regulatory oversight. South Korea's KOSPI Composite stock market index is currently near its four-year high, making South Korea the best-performing market in Asia so far in 2025, partly thanks to a rally around stocks that have been involved with the Bank of Korea's digital assets project, according to a recent FT report. Koreans' interest in stablecoins has also spread beyond its borders; Bloomberg recently reported that following its IPO, Circle has become the top overseas stock for South Korean investors, who have collectively poured $443 million into the USDC stablecoin issuer. The stock of KakaoPay Corp, expected to benefit from friendly crypto regulation in the country, has increased by 134% over the past month, according to Yahoo Finance data.

    Profile Photo

    Crypto Whale Data
  • two-thirds-of-koreans-want-to-invest-more-in-crypto-as-won-based-stablecoin-hype-builds-survey-south-korean-crypto-investors-of-all-ages-are-planning-to-increase-their-crypto-holdings-as-the-country

    Two-thirds of Koreans want to invest more in crypto as won-based stablecoin hype builds: Survey South Korean crypto investors of all ages are planning to increase their crypto holdings as the country's newly elected President promises to foster won-based stablecoin adoption, boosting the country's stock market to become the best-performing in the region. A recent survey of 1,000 South Koreans aged 20-59, conducted by the Hana Financial Research Institute, found that 27% of respondents already own digital assets, yet 70% of respondents (and 86% of current holders) plan to buy more crypto in the next year. Though crypto is typically associated with younger investors, the survey found the largest ownership share among investors in their 40s, at 31% of all current crypto holders. Korean men are about twice as likely as Korean women to hold digital assets today, with the gap persisting across age bands. While younger investors said they were primarily interested in high-risk, high-reward trading, over half of investors in their 50s, on the other hand, said planning for retirement was the primary driver for their crypto adoption. Two-thirds of respondents said their primary concern was market volatility, and although half of respondents admitted to holding funds on exchange hot wallets, only one-third of respondents were concerned with security risks. Stablecoin stocks surge The increasing adoption of digital assets in the country coincides with a surge in retail investor interest in companies that are angling to issue won-based stablecoins, following a pledge to legalize such assets from recently elected President Lee Jae Myung, who took office near the start of June. The initiative "is expected to yield several economic benefits such as reducing trade costs, diversifying foreign exchange risks, and increasing global investment into the local economy," lawmaker Min Byeong-deok, Lee's head of digital assets during the campaign, recently told The Block. A parliamentary bill proposed by the ruling party this month mirrors the GENIUS Act currently making its way through the U.S. government in that it would allow companies to issue their own stablecoins. In Korea, companies with as little as 500 million KRW equity capital (or around $367,000 USD) would be allowed to issue won-based stablecoins. Under the GENIUS Act, no such minimum exists, but issuers with a market cap of over $10 billion would be subject to more stringent regulatory oversight. South Korea's KOSPI Composite stock market index is currently near its four-year high, making South Korea the best-performing market in Asia so far in 2025, partly thanks to a rally around stocks that have been involved with the Bank of Korea's digital assets project, according to a recent FT report. Koreans' interest in stablecoins has also spread beyond its borders; Bloomberg recently reported that following its IPO, Circle has become the top overseas stock for South Korean investors, who have collectively poured $443 million into the USDC stablecoin issuer. The stock of KakaoPay Corp, expected to benefit from friendly crypto regulation in the country, has increased by 134% over the past month, according to Yahoo Finance data.

    Profile Photo

    Crypto Whale Data
  • vitalik-buterin-warns-sam-altmans-world-digital-ids-risk-killing-pseudonymity-online-ethereum-co-founder-vitalik-buterin-has-some-concerns-related-to-digital-identity-projects-like-world-which-clai

    Vitalik Buterin warns Sam Altman's World digital IDs risk killing pseudonymity online Ethereum co-founder Vitalik Buterin has some concerns related to digital identity projects like World, which claims to have signed up more than 13 million "unique humans." In a post published Saturday, Buterin chose to specifically discuss the risks and rewards of digital ID projects which utilize zero-knowledge proofs. While the popular thought leader had much to say on the matter, one of his major assertions is that projects like World (formerly Worldcoin), which is famously backed by OpenAI CEO Sam Altman, could kill off the pseudonymity that so many internet users enjoy, especially in the crypto space. "Under one-per-person ID, even if ZK-wrapped, we risk coming closer to a world where all of your activity must de-facto be under a single public identity," Buterin wrote in his post. "In a world of growing risk (eg. drones), taking away the option for people to protect themselves through pseudonymity has significant downsides." World is a digital identity project primarily developed and promoted by Tools for Humanity, which was co-founded by Altman and CEO Alex Blania. Users who have their eyeball scanned to prove they are human are given both a World ID and a crypto bonus in the form of WLD tokens. The biometric data collected by World's silvery Orbs to create a digital identity is protected, in part, by using zero-knowledge proofs, a solution also called ZK wrapping, which allows a user to prove something is true (like being a human) without revealing the underlying data (their actual identity). Buterin acknowledges in his post that digital identity initiatives which use zero-knowledge proofs appear to be going mainstream, mentioning not only World, but also both European Union and Taiwanese initiatives. While Buterin sees downsides to any one-ID-for-each-person system, he admitted there are benefits, such as helping to discern from AI-powered agents. One of World's biggest selling points is the notion that it can make the internet a better place by helping users know which other users are human and which are not. "On the surface, widespread adoption of ZK-wrapped digital ID seems like it would be a great victory ... protecting our social media, voting, and all kinds of internet services against manipulation from sybils and bots, all without compromising on privacy," he wrote. But to take advantage of pseudonymity, one needs to be able to do things like possess and manage multiple email and social media accounts. ZK-wrapped, digital identity projects like World, could put pseudonymity in jeopardy if implemented rigidly, argues Buterin. "In this world, social media apps ... will just use one app-specific ID for each user, and because the ID system is one-per-person, each user will only be able to have one account (as opposed to "weak ID" like eg. Google accounts today, where it's reasonably feasible for an average person to get ~5 accounts)," Buterin added. World, which for months after launching triggered criticism among privacy advocates across the globe, has gained momentum lately. The project recently launched in the United States and plans a Visa card. It also has a pilot program lined up with Tinder in Japan that would provide users with greater clarity about the identities of those they are interacting with on the dating app. Instead of a single ZK-wrapped "one-per-person ID" solution, Buterin suggests using a pluralistic model where no one person, institution or platform is in charge of issuing digital identities.

    Profile Photo

    Crypto Whale Data
  • operator-behind-sham-crypto-firms-empowercoin-ecoinplus-and-jet-coin-sentenced-to-8-years-in-prison-dwayne-golden-a-57-year-old-man-from-pennsylvania-was-sentenced-to-97-months-or-about-eight-yea

    Operator behind sham crypto firms EmpowerCoin, ECoinPlus, and Jet-Coin sentenced to 8 years in prison Dwayne Golden, a 57-year-old man from Pennsylvania, was sentenced to 97 months, or about eight years, in prison for his role in operating crypto schemes defrauding $40 million from investors, according to a release from the United States Department of Justice. Golden, as well as co-conspirators Gregory Aggesen and Marquis Demacking Egerton, ran the crypto firms EmpowerCoin, ECoinPlus, and Jet-Coin between April 2017 and August 2017. These firms promised investors fixed returns on digital asset investments through purported overseas operations. The defendants raised over $40 million, which they used to repay existing investors or themselves in what the Department of Justice describes as a "Ponzi scheme." "Dwayne Golden and his co-conspirators took advantage of investor interest in exciting new technologies to perpetrate a fraud scheme that is as old as time, and to make millions of dollars for themselves in the process," said U.S. Attorney Joseph Nocella in a statement. "Golden and his co-defendants offered no legitimate services and none of the companies engaged in any actual trading in cryptocurrency as they claimed." Once the firms collapsed, Golden, Aggesen, and another co-conspirator William White conspired to obstruct federal investigations by destroying evidence, in addition to providing false or misleading information to the Federal Trade Commission and a federal grand jury subpoena between July 2017 to March 2022, the release continues. Golden must also forfeit about $2.46 million in illicitly procured assets along with serving 97 months in prison. All four defendants pleaded guilty, with White receiving a 30-month (2.5-year) prison sentence and Aggesen and Egerton awaiting sentencing as of June 27. Golden, along with Aggesen and Egerton, were first charged with fraud, money laundering, and other financial crimes in March 2022 for their role in operating EmpowerCoin, ECoinPlus, and Jet-Coin. While cryptocurrency-based Ponzi schemes still cost investors millions, bad actors are increasingly opting for more targeted "pig butchering" and address poisoning financial crimes instead, The Block previously reported.

    Profile Photo

    Crypto Whale Data
  • 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

    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.”

    Profile Photo

    Crypto Whale Data
  • 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-equi

    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.

    Profile Photo

    Crypto Whale Data
  • 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-exch

    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.

    Profile Photo

    Crypto Whale Data
  • 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-sta

    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.

    Profile Photo

    Crypto Whale Data
  • 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-stra

    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.

    Profile Photo

    Crypto Whale Data
  • 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-coinba

    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.

    Profile Photo

    Crypto Whale Data
  • 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-somet

    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.

    Profile Photo

    Crypto Whale Data
  • democratic-senator-introduces-bill-targeting-trumps-crypto-ties-seeking-to-ban-officials-from-endorsing-crypto-projects-democrat-senator-adam-schiff-introduced-legislation-on-monday-seeking

    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.

    Profile Photo

    Crypto Whale Data
  • 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

    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.

    Profile Photo

    Crypto Whale Data
  • hong-kongs-financial-secretary-says-upcoming-stablecoin-licensing-offers-competitive-edge-hong-kongs-top-financial-official-said-the-citys-upcoming-stablecoin-regulations-and-role-as-an-offshore

    Hong Kong's financial secretary says upcoming stablecoin licensing offers competitive edge Hong Kong's top financial official said the city's upcoming stablecoin regulations and role as an offshore yuan center have given it a strategic advantage as the global race to regulate digital assets intensifies. Paul Chan, Hong Kong's financial secretary, said at a forum on Saturday that Hong Kong's legislature has passed a stablecoin bill that is expected to take effect on August 1 — which "will make Hong Kong one of the first jurisdictions in the world to establish a statutory regulatory framework for stablecoins." Chan also noted that the city processes 80% of global offshore yuan transactions. "Strengthening Hong Kong's role as a global offshore renminbi hub is an important responsibility in aligning with national development strategies and a unique advantage for its future financial development," he said. Chan's comments echoed the Chinese central bank's new policy announced last week. Pan Gongsheng, governor of the People's Bank of China, acknowledged that stablecoins and central bank digital currencies are reshaping global payment infrastructure. Pan also announced plans to establish an e-CNY international operation center in Shanghai to expand the Chinese yuan's global influence. Hong Kong has been at the forefront of a global race to develop stablecoin legislation. In May, Hong Kong's Legislative Council passed a stablecoin bill, establishing a licensing regime for stablecoin issuers. Meanwhile, the U.S. Senate passed the GENIUS Act, a landmark stablecoin bill, advancing it to the House for further consideration. Last year, the Hong Kong Monetary Authority, its de facto central bank, launched a sandbox for stablecoin issuers with participants including Standard Chartered Bank, Animoca Brands, Hong Kong Telecommunications, Jingdong Coinlink, and RD InnoTech. Possibility of offshore yuan-pegged stablecoins With stablecoins high on the global agenda, Jianguang Shen, Vice President of Chinese e-commerce giant JD.com, said at the Saturday forum that Hong Kong could develop stablecoins pegged to the offshore yuan, which would help the yuan secure a position in the "next generation of international currency competition," according to a report from local media outlet Wenweipo. Lo Wai-kwok, a Hong Kong lawmaker, also held a press briefing last week, urging the authorities to promote the development of stablecoins pegged to the offshore yuan, local media HKTKWW reported. Stablecoins are also emerging as a new battleground for Chinese e-commerce giants. JD Coinlink, a subsidiary of JD.com, recently tested a stablecoin pegged to the Hong Kong dollar, while Ant Group's international unit, which operates the Alipay platform, announced plans to apply for a license to issue stablecoins in Hong Kong.

    Profile Photo

    Crypto Whale Data
  • hacken-cites-human-error-after-private-key-leak-triggers-5-million-crash-in-hai-value-ukrainian-cybersecurity-firm-hacken-said-human-error-was-to-blame-for-a-private-key-leak-that-led-to-nea

    Hacken cites 'human error' after private key leak triggers $5 million crash in $HAI value Ukrainian cybersecurity firm Hacken said "human error" was to blame for a private key leak that led to near-unlimited minting of its native $HAI token, crashing its value by around 98%. "A private key of an account with a minter role (ETH & BNB) was compromised, leading to unauthorized HAI minting and a dump on BSC DEXs," Hacken wrote on X Saturday. Hacken said the attacker got away with around $250,000, but the minting of roughly 900 million $HAI tokens on Ethereum and BNB, nearly doubling its supply, led the token to drop catastrophically in price. The token crashed by as much as 97% before recovering somewhat on Sunday. $HAI's market capitalization dropped from around $12.7 million before the incident to around $7.2 million as of Sunday evening, according to CoinGecko data. Hacken said there was no evidence of additional compromised accounts, and the team plans to publish a post-mortem after investigating the incident. "Responsibility is on me," wrote Hacken's co-founder and CEO Dyma Budorin on X. "I didn't implement multisig bridge [infrastructure] 5 years ago. I understood the risk, but delayed bridge restructuring due to not unimportant reasons." Since the deployer wallet was not compromised, the Hacken team was able to revoke control from the compromised minter accounts. Hacken teased a token swap in the future that may compensate $HAI holders, calling it "a big merge between $HAI and Hacken equity shareholders, valued at over $100M" on X. Hacken did not immediately respond to a request for comment from The Block. Hacken's own Q1 Web3 security report from April noted that access control exploits form the top current threat to the Web3 ecosystem, noting $1.6B in losses in Q1 alone. "While smart contract vulnerabilities remain a threat, most damage is now caused by failures in people, processes, or permission systems," the report states.

    Profile Photo

    Crypto Whale Data
  • spot-ethereum-etfs-log-largest-outflows-in-one-month-as-eth-price-tumbles-below-2400-u-s-spot-ethereum-etfs-saw-their-largest-outflow-since-mid-may-on-friday-before-ethers-price-tumbled-below-2

    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.

    Profile Photo

    Crypto Whale Data
  • uniswap-morpho-and-others-collaborate-on-web3soc-a-framework-for-determining-a-defi-projects-readiness-for-institutional-partnerships-some-of-ethereums-biggest-application-developers

    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.

    Profile Photo

    Crypto Whale Data
  • bitcoin-transactions-hit-18-month-low-as-runes-and-ordinals-hype-fades-bitcoins-transaction-activity-has-reached-its-quietest-period-in-over-a-year-and-a-half-with-the-7-day-moving-average-falling

    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.

    Profile Photo

    Crypto Whale Data
  • hacker-group-claims-leak-of-nobitex-source-code-as-iranian-exchanges-stolen-funds-top-100-million-gonjeshke-darande-the-pro-israel-hacker-group-that-claims-to-be-behind-the-attack-on-iran

    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

    Profile Photo

    Crypto Whale Data
  • ohio-house-advances-bill-exempting-sub-200-crypto-transactions-from-capital-gains-tax-ohios-house-of-representatives-has-passed-a-bill-that-would-make-it-easier-for-crypto-owners-to-use-their-crypt

    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.

    Profile Photo

    Crypto Whale Data
  • treasury-secretary-bessent-says-trumps-crypto-push-will-lock-in-dollar-supremacy-u-s-treasury-secretary-scott-bessent-said-wednesday-that-president-donald-trumps-embrace-of-crypto-and-stablec

    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

    Profile Photo

    Crypto Whale Data
  • polygon-co-founder-spins-off-to-launch-independent-zero-knowledge-project-zisk-polygon-co-founder-jordi-baylina-and-the-team-behind-polygons-zkevm-have-transitioned-into-an-independent-ventur

    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.

    Profile Photo

    Crypto Whale Data
  • 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

    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.

    Profile Photo

    Crypto Whale 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

    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.

    Profile Photo

    Crypto Whale Data
  • solana-makes-sense-as-treasury-asset-amid-outpacing-eth-says-cantor-cantor-fitzgerald-said-monday-it-has-begun-covering-three-solana-treasury-companies-citing-what-it-sees-as-the-advantages-of-s

    Solana 'makes sense' as treasury asset amid outpacing ETH, says Cantor Cantor Fitzgerald said Monday it has begun covering three Solana treasury companies, citing what it sees as the advantages of stockpiling the cryptocurrency. The investment bank initiated coverage of DeFi Development Corp., Upexi, and Sol Strategies — three companies aiming to replicate the success of Strategy, the Bitcoin-focused treasury firm that has seen its market cap and share price surge alongside the price of BTC. Although Cantor analysts said they don’t view Solana as a reserve asset akin to Bitcoin, they see SOL as superior to its main rival, Ethereum, despite Ethereum having a longer track record and a larger total value locked (TVL). "Developer growth on SOL has far exceeded that on ETH recently, and we expect this to continue," the analysts said in their note. "Using SOL over ETH as a treasury asset makes sense: these businesses think that SOL can overtake ETH, which currently has a market cap that is ~259% higher." "If BTC has solidified itself as the foundational reserve currency, or asset, for the digital economy, Solana aims to be the technology that powers transactions and marketplaces in the digital economy," the analysts also said. "We believe SOL treasury companies are betting the future of finance will be on-chain and that the chain of choice will be Solana." Some smaller companies announcing ambitious plans to accumulate large amounts of cryptocurrency, however, might not have legitimate intentions, Matthew Sigel, VanEck's Head of Digital Assets, said last week. Solana treasury companies DeFi Development Corp., which began buying Solana in April, has acquired more than 620,000 SOL since adopting its new strategy, Cantor noted. The company has also developed a liquid-staking token, acquired two validators, and formed new partnerships to embed itself in the Solana ecosystem further. Cantor set a $45 price target on the company’s shares, which were up more than 20% to $31.25 as of 3:46 p.m. ET, according to Yahoo Finance. Upexi, another firm now under Cantor’s coverage, had fallen nearly 3% to $9.76 per share by the same time. Cantor’s target for Upexi is $16. The final company, Canada-based SOL Strategies, is expected to rise from about C$2 to C$4, according to Cantor.

    Profile Photo

    Crypto Whale Data
  • bybit-unveils-its-first-solana-dex-byreal-mainnet-launch-slated-for-q3-crypto-exchange-bybit-announced-the-launch-of-its-solana-based-decentralized-exchange-byreal-set-to-go-live-on-testnet-on-june

    Bybit unveils its first Solana DEX Byreal, mainnet launch slated for Q3 Crypto exchange Bybit announced the launch of its Solana-based decentralized exchange Byreal, set to go live on testnet on June 30 and scheduled for mainnet in the third quarter. "Byreal isn't 'just another DEX,'" Bybit CEO Ben Zhou wrote on social media platform X on Sunday. "It’s combining CEX-grade liquidity with DeFi-native transparency. This is what real hybrid finance looks like." Zhou explained that the DEX is designed with RFQ (Request For Quote) and CLMM (Concentrated Liquidity Market Maker) routing, claiming to offer traders low-slippage and manipulation-free swaps via more efficient and transparent market making systems. The upcoming platform's own announcement provided more details on its offerings, including a smarter, more equitable token launchpad model and curated yield vaults on assets like bbSOL. "CEX/DEX can work in harmony, and amplify one another," wrote Lily Liu, president of the Solana Foundation. "The asset diversity and global availability of a DEX, plus the liquidity of a CEX. Building internet capital markets means having asset and product venue diversity, all on the shared rails." DEX all-time high Bybit's introduction of Byreal comes amid a resurgence of DEXs, which collectively captured a 25% share of global spot trading volume compared to centralized exchanges last month, marking a record high. According to DefiLlama data, DEXs saw a total monthly trading volume of $405.3 billion in May, led by PancakeSwap, which had $98.2 billion. Simon Kim, CEO of crypto venture capital Hashed, predicted that DEXs, the "core" of blockchain financial ecosystems, may overtake CEXs in trading volume in 2028. As of Monday, DEXs had a total value locked of $20.7 billion, led by Uniswap and Curve. DEXs on Ethereum led in total value locked, followed by Solana-based DEXs with $3.3 billion in TVL, over half of which was held by Raydium.

    Profile Photo

    Crypto Whale Data
  • metaplanet-hits-10000-btc-holdings-overtakes-coinbase-global-with-latest-1112-bitcoin-purchase-shares-of-metaplanet-jumped-more-than-17-after-the-japanese-investment-firm-announced-the-acquisition

    Metaplanet hits 10,000 BTC holdings, overtakes Coinbase Global with latest 1,112 Bitcoin purchase Shares of Metaplanet jumped more than 17% after the Japanese investment firm announced the acquisition of 1,112 BTC, raising its total holdings to 10,000 BTC — surpassing the amount held by Coinbase Global. On Monday, Metaplanet CEO Simon Gerovich wrote on X that it acquired an additional 1,112 BTC for $117.2 million at an average price of $105,435 per Bitcoin. This boosted its total holdings to 10,000 BTC. Data from Bitcointreasuries.net shows Coinbase Global holds 9,267 BTC, indicating that Metaplanet's latest purchase has pushed it ahead of the crypto exchange. Also on Monday, the company disclosed that its board of directors approved the issuance of its 18th series of ordinary bonds worth $210 million to EVO Fund with their maturity date set for Dec. 12, 2025. "The funds raised are scheduled to be allocated toward the purchase of Bitcoin," the company said. Upon the announcements, Metaplanet's stock surged 17.23% to 1,769 yen as of 11:30 a.m. in Japan, according to Yahoo Finance data. Its stock price has risen over 408% since the beginning of this year. Earlier this month, the company, which began its Bitcoin acquisition strategy in April 2024, announced a revised target to hold over 210,000 BTC by the end of 2027, referencing a goal of holding 1% of the total Bitcoin supply. To support this goal, Metaplanet unveiled plans on June 6 for a $5.4 billion equity offering to purchase additional Bitcoin, intending to issue 555 million shares over the next two years. On June 2, the company said it purchased an additional 1,088 BTC, bringing its total holdings to 8,888 BTC. Strategy, led by Michael Saylor, continues to top the global list with total holdings of 582,000 BTC following its acquisition of 1,045 BTC last week.

    Profile Photo

    Crypto Whale Data
  • sec-clears-trump-media-filing-opening-door-to-multi-billion-dollar-bitcoin-buy-trump-media-and-technology-group-the-firm-majority-owned-by-u-s-president-donald-trump-that-runs-his-truth-social-plat

    SEC clears Trump Media filing, opening door to multi-billion-dollar Bitcoin buy Trump Media and Technology Group, the firm majority-owned by U.S. President Donald Trump that runs his Truth Social platform, said on Friday that the SEC declared effective the registration for its previously-announced Bitcoin treasury plan. The firm's approximately $2.3 billion in capital raised from around 50 institutional investors has thus been unlocked and can be used to purchase BTC at any time. The firm declined to detail how much BTC it plans to acquire in its prospectus, which states that Trump Media "...will acquire its bitcoin and bitcoin-related holdings in the amounts and on the timeline it deems optimal." The prospectus also includes a universal shelf that allows the company to raise up to $12 billion worth of more stock, debt, or warrants at any time. "The Company has no immediate plans to issue any securities under the shelf registration statement," the firm said in a press release. About 84.7 million shares held by early investors are now registered for resale, a block equal to roughly half the public float, and 30% of all shares outstanding. The firm trades on the Nasdaq exchange under the ticker DJT. "TMTG’s bitcoin strategy may also include purchasing bitcoin-related securities or, given certain market conditions, selling bitcoin and investing such proceeds in assets including cash, cash equivalents, or other interest bearing investments," the firm's prospectus states. In addition to Truth Social, the firm operates the Truth+ streaming service and launched Truth.fi, a fintech brand with crypto ambitions, in January of this year. The press release calls Truth.fi "a financial services and FinTech brand incorporating America First investment vehicles."

    Profile Photo

    Crypto Whale Data
  • ethereum-foundation-donates-500000-to-tornado-cash-co-founder-roman-storms-defense-ahead-of-july-trial-the-ethereum-foundation-announced-a-500000-donation-to-support-tornado-cash-co-founder-roma

    Ethereum Foundation donates $500,000 to Tornado Cash co-founder Roman Storm's defense ahead of July trial The Ethereum Foundation announced a $500,000 donation to support Tornado Cash co-founder Roman Storm's defense as his trial quickly approaches. In a post on X on Friday, the foundation, which supports the Ethereum ecosystem, stated that it had donated the funds and would match "up to a further $750K in donations from the community." "Privacy is normal, and writing code is not a crime," the foundation commented in the post. Storm is raising money for his defense ahead of his upcoming trial on July 14 in New York and has set a goal of $2 million, according to a post on X. In 2023, Storm was charged with conspiracy to commit money laundering and sanctions violations for operating Tornado Cash. He has attempted to dismiss the charges, citing First Amendment violations, and his trial was later postponed. Regarding Tornado Cash, the Department's Office of Foreign Assets Control sanctioned the mixer in 2022, which was later lifted in March of this year. Under the Trump administration, U.S. prosecutors announced in May they would drop a part of Storm's charges related to an allegation of operating an unlicensed money transmitting business. However, they indicated plans to proceed with charges related to money laundering, some connected to unlicensed money transmitting, and another charge concerning a conspiracy to violate the International Emergency Economic Powers Act. Earlier on Friday, Storm appealed for support ahead of his trial. "If I lose, DeFi dies with me," Storm stated in a post on X. "The dream of financial freedom, the code I believed in — it all fades into darkness."

    Profile Photo

    Crypto Whale Data
  • coinbase-sees-bullish-crypto-outlook-for-2025-but-flags-systemic-risks-from-leveraged-corporate-bitcoin-bets-crypto-markets-are-set-for-a-constructive-second-half-of-2025-underpinn

    Coinbase sees bullish crypto outlook for 2025, but flags ‘systemic risks’ from leveraged corporate bitcoin bets Crypto markets are set for a constructive second half of 2025, underpinned by improved U.S. economic growth expectations, potential Fed rate cuts, rising corporate treasury adoption, and greater regulatory clarity, according to Coinbase Institutional. While risks remain — including a steepening yield curve and potential forced selling pressure from publicly traded crypto vehicles — these appear manageable for now, according to David Duong, Coinbase Institutional's Global Head of Research, who wrote in a report on Thursday. Duong continues to expect more upside in the crypto market over the next three to six months, forecasting new all-time highs for bitcoin in the second half of the year as macro disruption from tariffs fades and pro-growth U.S. policies take shape. However, rising long-term yields, driven by concerns about deficits, could tighten financial conditions and unsettle markets. If growth expectations disappoint, risk assets may face volatility, though store-of-value assets like bitcoin and gold could benefit as the dollar's dominance declines, he said. 'Attack of the clones' A growing number of public companies are embracing bitcoin-backed balance sheets, with 228 firms now holding a combined 820,000 BTC. According to Galaxy Digital, around 20 of these, along with several others holding ETH, SOL, or XRP, are using a leveraged funding model pioneered by Strategy (formerly MicroStrategy). This surge in activity follows a key accounting shift that went into effect in December 2024, when new Financial Accounting Standards Board rules allowed companies to report crypto holdings at fair market value — removing a major hurdle that previously limited them to reporting impairments without unrealized gains under U.S. Generally Accepted Accounting Principles, Duong said. While corporate adoption is rising, Duong warned that the emergence of publicly traded crypto vehicles focused solely on asset accumulation as their primary goal introduces "systemic risks." Many of these firms raise capital through convertible debt to buy crypto, leaving them vulnerable to forced selling during market stress or motivated discretionary selling that could spook investors, he noted. "Ultimately, we think it's unlikely that the downside pressure posed by either risk would mirror what we've seen with some of the failed crypto industry projects in the past," Duong said. "First, most of the debt from these entities will ultimately not mature until late 2029 to early 2030 based on our inventory of outstanding debt across nine entities, suggesting forced selling pressure is not a concern in the very short term. Moreover, so long as the loan-to-value (LTV) ratios stay reasonable, we believe that the largest companies are likely to have access to refinancing methods that may help them navigate the situation without necessarily liquidating their reserve holdings." However, the outlook could change as debts mature or more firms adopt leveraged strategies, Duong acknowledged. With no standard funding model in place, tracking risk is challenging, but corporate interest remains high, and market saturation has not yet been reached. Hence, the accumulation trend still has room to grow in the second half of 2025, he said. On Wednesday, regulated digital asset bank Sygnum also warned that such ownership concentration risks undermine bitcoin's credibility as a central bank reserve asset. Fading recession risks and crypto regulatory clarity Fears of a technical U.S. recession have eased after early 2025 trade disruptions sparked concerns, especially following a slight Q1 GDP contraction, in Duong's view. Furthermore, recent data shows the Atlanta Fed's GDPNow estimate jumping to 3.8% as of June 5, suggesting stronger growth momentum, he noted. The analyst, therefore, believes that a severe recession is unlikely, expecting either a mild slowdown or continued expansion. With global liquidity rising and tariff impacts also fading, Coinbase Institutional sees limited downside for asset prices — reinforcing its bullish view on bitcoin for the remainder of the year, Duong said. The U.S. is also undergoing a major regulatory shift in 2025, with bipartisan momentum behind stablecoin legislation and broader efforts to define crypto market structure, in a dramatic change from the previous administration's "regulation by enforcement" approach, the analyst noted. The GENIUS and STABLE Acts could be unified and passed before the August recess, establishing key rules for reserves, compliance, and consumer protections. Meanwhile, the CLARITY Act aims to clarify SEC and CFTC oversight roles, setting the stage for long-term policy transformation, he said. Separately, the SEC is currently reviewing around 80 pending crypto ETF proposals, including multi-asset funds, staking-enabled products, and single-name altcoin ETFs for cryptocurrencies like Solana, XRP, Litecoin, and Dogecoin. Key decisions on these applications could arrive between July and October, with outcomes likely to shape market dynamics heading into 2026, Duong said. "Despite the risks, we think bitcoin's upward trend is expected to continue," Duong concluded. "That said, although we're confident about bitcoin's trajectory, we think only select altcoins may perform well depending on their idiosyncratic circumstances."

    Profile Photo

    Crypto Whale Data
  • sharplink-shares-tumble-70-after-425m-raise-for-ethereum-treasury-strategy-nasdaq-listed-eth-treasury-company-sharplink-gaming-saw-its-shares-drop-over-70-during-thursdays-after-hours-trading-sessi

    SharpLink shares tumble 70% after $425M raise for Ethereum treasury strategy Nasdaq-listed ETH treasury company SharpLink Gaming saw its shares drop over 70% during Thursday's after-hours trading session after it registered a statement allowing the resale of millions of its common shares. According to data from Google Finance, SharpLink shares, SBET, fell 12.25% on Thursday to $32.5, then plummeted over 75% to a low of $8 at one point after markets closed. It has since recovered to $11.15. SharpLink, a sports betting platform, came into the limelight earlier this month when MetaMask developer Consensys led its $425 million private investment to build a corporate treasury based on Ethereum. The firm's sharp drop occurred after the company filed its S-3 registration statement with the Securities and Exchange Commission, which notifies a potential resale of nearly 58.7 million common shares issued to over 100 investors in a private investment in public equity (PIPE) offering. The filing appears to have prompted a sell-off in the stock from anticipation of a major resale, creating a "prisoner's dilemma" dynamic, according to BTCS CEO Charles Allen. After SharpLink's stocks plunged, Consensys CEO and SharpLink Chairman Joseph Lubin explained that traders appear to have misinterpreted the filing. "It registers shares for potential resale by prior investors — the 'Shares Owned After the Offering' column is hypothetical, assuming full sale of registered shares," Lubin wrote on X. "This is standard post-PIPE procedure in TradFi, not an indication of actual sales." Lubin made clear in his X post that neither Consensys nor he sold any shares of SharpLink. Consensys' General Counsel Matt Corva also said Thursday's S-3 was not a unique filing, saying the market sell-off was just a "bunch of FUD" by those who do not understand the process or want to mislead others. "It would be the same as just recognizing that tokens have been minted as part of a smart contract, but it's TradFi tech," Corva said. "The filing doesn't reflect anyone's sales, which may or may not ever happen, I have no idea. But it's a basic filing. Like saying the sky is blue, but now it's officially blue." At the end of last month, SharpLink announced plans to raise up to $1 billion from common share offerings, with proceeds earmarked for purchasing ETH. BTCS CEO Allen suggested a possibility that SharpLink already secured the funds to reveal a $1 billion ether purchase tomorrow — effectively countering the stock's latest losses. "If they played cards right, [they] would expect a surprise PR tomorrow with $1b of ETH purchases," Allen wrote. "Which could light the match to reignite the stock."

    Profile Photo

    Crypto Whale Data
  • democratic-senators-warren-and-blumenthal-push-back-against-metas-renewed-stablecoin-ambitions-democratic-senators-elizabeth-warren-and-richard-blumenthal-probed-meta-ceo-mark-zuckerberg-on-w

    Democratic senators Warren and Blumenthal push back against Meta’s renewed stablecoin ambitions Democratic Senators Elizabeth Warren and Richard Blumenthal probed Meta CEO Mark Zuckerberg on what they described as "troubling reports" that the Facebook parent may be renewing its stablecoin plans. "Big Tech companies' issuing or controlling their own private currencies, like a stablecoin, would threaten competition across the economy, erode financial privacy, and cede control of the U.S. money supply to monopolistic platforms that have a history of abusing their power," the senators wrote in a letter to Zuckerberg on Wednesday. "Given these significant concerns, and Meta's previous failed attempt at launching a stablecoin, we request information about Meta's plans and deliberations on once again pursuing a stablecoin venture." Meta is reportedly in talks with crypto firms about integrating stablecoins for payments, including small payouts on Instagram to reduce costs compared to fiat currency. The reports follow Meta's recent hire of former Ripple executive Ginger Baker to lead its stablecoin efforts. Ripple launched the RLUSD stablecoin in December. It remains unclear at this stage whether Meta will partner with an existing issuer or launch its own stablecoin. Nevertheless, Meta's pursuit of a stablecoin project raises "serious concerns," Warren and Blumenthal said. The senators argued that if Meta controlled its own stablecoin, it could exploit vast amounts of consumer financial data to fuel invasive advertising, manipulate pricing, or sell information to third parties. With 3.5 billion daily users, Meta could also distort competition by steering users toward its own services and excluding rivals, they said. Warren and Blumenthal argued that stablecoins themselves carry systemic risk, citing the brief depegging of USDC in 2023, which raises concerns about potential taxpayer bailouts. Given Meta's history of privacy violations, compliance issues, and failures to protect users, the senators warned that allowing it to run a private currency could pose serious money laundering, consumer protection, and national security threats. Specifically, they asked Zuckerberg to provide detailed information from Meta about its current stablecoin ambitions, including which companies it has consulted since January 2025, whether it plans to launch or partner on a stablecoin, and which of its platforms might support such payments. They also asked if Meta has lobbied on crypto legislation like the GENIUS Act or STABLE Act and whether it has engaged on provisions that could allow it to bypass restrictions. Additionally, the lawmakers want to know how Meta's new plans differ from its previous Libra and Diem efforts and what steps it has taken to address past regulatory concerns. Answers are requested by June 17. Facebook's doomed Libra stablecoin project Facebook's Libra project, launched in 2019, previously attempted to create a global stablecoin backed by a basket of fiat currencies and governed by the Libra Association — a consortium of major firms including Visa, Mastercard, PayPal, Stripe, Uber, and Spotify. Spearheaded by David Marcus — now CEO of Bitcoin Lightning Network infrastructure firm Lightspark — Libra aimed to bring low-cost, borderless payments to billions, particularly the unbanked. However, it quickly drew intense regulatory backlash over fears of monetary disruption, data privacy, and corporate overreach. Key founding members exited, and by 2020, the project rebranded as Diem and scaled down its ambitions. Despite these efforts, Diem ultimately shut down in 2022 after failing to gain regulatory approval in the U.S., and its intellectual property was sold off to Silvergate Bank, which later went into bankruptcy. However, the project lives on in new-generation blockchains like Aptos and Sui, which are built using Diem's bespoke MOVE programming language without Meta's involvement. Now, under the pro-crypto second Trump administration, the regulatory climate appears markedly more receptive to digital assets, especially stablecoins, with Treasury Secretary Scott Bessent stating at a Senate hearing on Wednesday that the U.S. dollar stablecoin market, backed by U.S. treasuries or T-bills, could surpass $2 trillion in the next three years, provided there is legislative support. Earlier in the day, the U.S. Senate voted to move forward with the GENIUS Act stablecoin bill, pushing it closer to a final vote. "[The GENIUS Act] would allow Big Tech companies like Meta to issue their own stablecoins — making it more critical than ever that Congress and the public fully understand the extent of Meta's plans," Warren and Blumenthal said in the letter. As a result, not just Meta, but a slew of Big Tech firms, including Apple, X, Airbnb, Google, and Uber, are once again exploring stablecoin adoption, while Stripe, Visa, and Mastercard are at more advanced stages in integrating the technology. Although its stablecoin ambitions may only now be resurfacing again, Meta has maintained its interest in the crypto industry during the intervening years. The firm submitted trademark applications in 2022 and 2023 for digital asset-related projects, such as crypto trading, blockchain-focused hardware, and digital asset exchange services.

    Profile Photo

    Crypto Whale Data
  • ethereum-foundation-outlines-key-security-challenges-facing-the-network-in-new-report-the-ethereum-foundation-has-identified-six-key-areas-for-improvement-in-its-initial-trillion-dollar-security-repor

    Ethereum Foundation outlines key security challenges facing the network in new report The Ethereum Foundation has identified six key areas for improvement in its initial Trillion Dollar Security report as the organization adopts a more deliberate approach to strengthening the largest blockchain in decentralized finance. The overview listed user experience, smart contract vulnerabilities, infrastructure and cloud dependencies, consensus protocol strength, monitoring and incident response governance as critical spheres requiring attention. Next, the EF will prioritize certain areas to tackle the highlighted issues. “This first report is focused on identifying and mapping the problems and challenges that remain,” a blog post from the foundation said. “The next step will be to choose the highest priority issues, identify solutions, and work with the ecosystem to address them.” The findings, discovered through the 1TS initiative launched in mid-May, are part of a three-part strategy to enhance Ethereum’s security architecture and meet global financial demands. Besides identifying vulnerabilities and addressing high-risk loopholes, the initiative emphasizes improving information flow within Ethereum’s ecosystem. 1TS preceded a shake-up at EF’s Protocol research and development division. Earlier this month, the foundation announced layoffs and management changes in its protocol research and development division to streamline operations. Additionally, the EF recently appointed long-serving EF member and former executive director, Aya Miyaguchi, as the new foundation president. It also unveiled a reformed treasury management model to optimize spending. These moves appeared to address recent community criticism regarding the foundation’s direction and perceived delays in research progress.

    Profile Photo

    Crypto Whale Data
  • xrp-ledger-devs-plan-sidechain-launch-in-q2-for-ethereum-compatibility-the-xrp-ledger-a-blockchain-associated-with-cross-border-payments-firm-ripple-plans-to-launch-an-ethereum-virtual-machine-evm

    XRP Ledger devs plan sidechain launch in Q2 for Ethereum compatibility The XRP Ledger, a blockchain associated with cross-border payments firm Ripple, plans to launch an Ethereum Virtual Machine (EVM) sidechain in the second quarter of this year, aiming to integrate Ethereum smart contracts into its ecosystem. Ripple's Chief Technology Officer, David Schwartz, announced the sidechain launch timeline at the ongoing Apex 2025 event in Singapore, according to Peersyst, one of the project's core developers. The sidechain, a parallel-running blockchain, will integrate the XRP Ledger's low-cost transaction capabilities with Ethereum's smart contract functionality. It is being developed by contributors Ripple and Peersyst, leveraging evmOS' software stack. It is currently live on testnet, serving as a precursor to a mainnet launch expected to follow after further testing and validator partnerships in the second quarter. While the XRP Ledger already supports native smart contracts, the network does not currently support the EVM, a computing environment commonly used by Ethereum developers to write applications. Flare Network, which integrates with XRPL, also separately provides smart contract functionality using an EVM-compatible layer. The sidechain is set to connect to the XRPL mainnet via a bridge, utilizing Axelar as the exclusive bridge for transferring assets such as wrapped XRP, which will serve as the native gas token.

    Profile Photo

    Crypto Whale Data
  • french-bank-societe-generale-to-launch-us-dollar-pegged-stablecoin-on-ethereum-and-solana-french-banking-giant-societe-generale-announced-plans-to-launch-a-u-s-dollar-pegged-stablecoin-called-usd-coi

    French bank Societe Generale to launch US dollar-pegged stablecoin on Ethereum and Solana French banking giant Societe Generale announced plans to launch a U.S. dollar-pegged stablecoin called USD CoinVertible (USDCV) on Ethereum and Solana, potentially becoming the first major European bank to do so. The USDCV coin will be issued through SG-Forge, Societe Generale’s crypto-focused subsidiary, with custody services provided by New York-based BNY Mellon, according to a statement released Tuesday. USDCV follows SG-Forge’s euro-denominated stablecoin EURCV, which debuted in April 2023. SG-Forge CEO Jean-Marc Stenger said that creating a dollar-backed product was an “obvious next step,” driven by the overwhelming dominance of U.S. dollars in the global stablecoin market. “The stablecoin market remains largely US dollar-denominated,” Stenger remarked. “This new currency will enable our clients, either institutions, corporates, or retail investors, to leverage the benefits of an institutional-grade stablecoin.” Both fiat-pegged crypto coins issued by SG-Forge comply with Europe’s Markets in Crypto-Assets (MiCA) regulations as authorized Electronic-Money Tokens (EMTs). MiCA, which went into effect in June 2023, provides a unified regulatory framework for digital assets across European jurisdictions. Regulation and stablecoin boom USDCV’s announcement aligns with growing interest from traditional financial institutions globally. A recent Wall Street Journal report noted major U.S. banks exploring a joint stablecoin venture. Stripe co-founder John Collison also said several banks were "very interested" in stablecoin integration. Meanwhile, the stablecoin market surpassed $250 billion for the first time earlier this month, led by Tether (USDT) and Circle (USDC), according to The Block’s data. Also, regulation has seen progress in the U.S. and worldwide. Policymakers in Washington have advanced the GENIUS Act despite controversy over President Donald Trump’s crypto ties. South Korean rulemakers also proposed a stablecoin licensing process in a new crypto bill.

    Profile Photo

    Crypto Whale Data
  • sec-chair-paul-atkins-says-the-right-to-self-custody-is-a-foundational-american-value-u-s-securities-and-exchange-commission-chairman-paul-atkins-is-turning-a-new-page-at-the-agency-in-how-it-vie

    SEC Chair Paul Atkins says the right to self-custody is a 'foundational American value' U.S. Securities and Exchange Commission Chairman Paul Atkins is turning a new page at the agency in how it views self-custody, describing it as a "foundational American value." In remarks delivered Monday at the SEC’s final Crypto Task Force Roundtable, titled "DeFi and the American Spirit," Atkins hinted more of an openness toward self-custody, marking a departure from the previous administration. "The right to have self-custody of one’s private property is a foundational American value that should not disappear when one logs onto the internet," Atkins said Monday. "I am in favor of affording greater flexibility to market participants to self-custody crypto assets, especially where intermediation imposes unnecessary transaction costs or restricts the ability to engage in staking and other on-chain activities." Since President Donald Trump took office and following former SEC Chair Gary Gensler's departure, the agency has taken a warmer approach to crypto in part through dropping enforcement actions against major crypto industry players and creating the crypto task force. The task force has hosted five roundtable discussions over the past few months with a focus on tokenization, custody, trading, and defining securities. Atkins has criticized the agency's previous approach, and on Monday, accused the agency of undermining the innovation in self-custody by asserting that developers could be brokers, and therefore, need to follow the SEC's rules. "I do not believe that we should allow century-old regulatory frameworks to stifle innovation with technologies that could upend and most importantly improve and advance our current, traditional intermediated model," Atkins said. "We should not automatically fear the future." Atkins also said he asked SEC staff to look into next steps. "I have asked the Commission staff to explore whether further guidance or rulemaking may be helpful for enabling registrants to transact with these software systems in compliance with applicable law," he said.

    Profile Photo

    Crypto Whale Data
  • ethereum-is-hitting-a-critical-inflection-point-bernstein-says-as-crypto-shifts-from-speculation-to-real-financial-innovation-while-this-crypto-market-cycle-has-been-dominated-by-the-narrative-of-in

    Ethereum is hitting a critical inflection point, Bernstein says, as crypto shifts from speculation to real financial innovation While this crypto market cycle has been dominated by the narrative of institutionalization of Bitcoin, stablecoins, and tokenization, analysts at Bernstein believe that these developments are driving the early stages of traditional financial innovation on public blockchains such as Ethereum. “Bitcoin is great, we love it and still believe $200,000 is our high-conviction but conservative price forecast this cycle,” the analysts led by Gautam Chhugani wrote in a Monday note to clients. “However, we believe, the mainstream interest is broadening beyond the ‘store of value’ Bitcoin use case toward the early stages of the financial innovation unleashed by the blockchain. Some investors still draw the line between blockchain (useful tech) and crypto (‘useless’) … [but] Ethereum ‘deserves love,'” they said. The U.S. spot Bitcoin exchange-traded funds, launched in January 2024, are among the most successful investment products of all time, having crossed $120 billion in assets under management in less than two years, analysts noted. Meanwhile, the launch of spot Ethereum ETFs in the U.S. last July has largely flown under the radar, generating a comparatively small $9 billion in AUM. However, with ether trading at a $300 billion market cap — one-seventh of bitcoin’s $2.1 trillion — that’s no surprise, they said. Instead, Ethereum’s uniqueness is derived from its position as a decentralized computer, Chhugani explained, with interesting blockchain use cases such as stablecoins and tokenization being native to Ethereum and the Ethereum blockchain, which enjoys a maximum market share in these sectors. “Not surprising, as Ethereum hits institutional awareness, we are seeing ETH ETF inflows waking up. In the last 20 days, ETH ETFs’ inflows stood at $815 million, with year-to-date net inflows turning positive at $658 million,” the analysts said. “This is the stage where crypto takes a leap from speculative token markets to blockchain-driven financial innovation,” the analysts continued — with financial activity evolving from retail trading memes to blockchains providing open financial rails for capital markets, payments, and new-age fintechs, integrating with stablecoins and tokenization. A critical inflection point Major payment incumbents like Visa, Mastercard, and Stripe are already developing their stablecoin strategies, Bernstein noted, arguing that if real companies and institutional investors are innovating on the blockchain, it makes blockchain networks, and by implication, blockchain network assets like ETH, valuable. “Investors have always told us — crypto is useless, but blockchain is valuable,” Chhugani said. “But these are not different things. If you believe in stablecoin-based payments innovation, why is the Ethereum network that mints the stablecoins and processes stablecoin transactions not valuable? Any company that uses stablecoin tech pays transaction fees to the Ethereum network. There is now both utility and value accrual. We believe that the narrative around value accrual of public blockchain networks is at a critical inflection point, starting to reflect in investor interest in Ethereum ETF inflows.” The analysts also highlighted the rising adoption of these sectors from major crypto firms, noting Coinbase’s merchant stablecoin payments pilot and applications within its Base Layer 2 network. They also cited Robinhood’s recent push in advocating for tokenized real-world assets and Kraken’s planned rollout of tokenized U.S. stocks for international users. “We are hoping to help institutional investors connect the dots here,” the analysts said. “Coinbase and Robinhood are not just trading crypto but building financial applications on the blockchain/crypto rails. Not all crypto tokens are valuable, but foundational blockchain native assets such as Ethereum are now crossing the chasm from useless retail speculation to useful financial innovation. As the market recognizes this trend, this has a positive feedback loop as more investors trade/invest in tokens other than Bitcoin.” Gautam Chhugani maintains long positions in various cryptocurrencies. Certain affiliates of Bernstein act as market makers or liquidity providers in the equity securities of Coinbase and Robinhood

    Profile Photo

    Crypto Whale Data
  • crypto-fund-issuers-press-sec-to-reinstate-first-to-file-etf-approval-process-a-trio-of-cryptocurrency-fund-managers-urged-the-u-s-securities-and-exchange-commission-to-go-back-to-an-approach-tha

    Crypto fund issuers press SEC to reinstate 'first-to-file' ETF approval process A trio of cryptocurrency fund managers urged the U.S. Securities and Exchange Commission to go back to an approach that approved exchange-traded products on a first-come, first-served basis and said the current approach makes the "marketplace less fair." VanEck, 21Shares, and Canary Capital stated that they are concerned about the agency's "recent failure to practice a 'first-to-file' approach," where the SEC prioritizes greenlighting financial products based on the order of arrival. The firms voiced those concerns in an open letter sent to SEC Chair Paul Atkins and posted to X on Friday. "The failure to follow this practice has frustrated the regulatory principles of innovation, fairness and competition in the financial markets," the firms said in the letter. "To that end, we respectfully request your prompt reinstatement of the Commission's longstanding first-to-file approval principle for registration statements. Simply put, when the Commission plays favorites, it costs ETP sponsors money and makes the ETP marketplace less fair." The SEC is currently weighing dozens of applications for ETFs, including ones tracking SOL, XRP, and DOGE, among other assets. Many of these proposals were filed over the past year following an expectation that the agency under the Trump administration would be more permissive. During the Biden administration, following a pivotal court ruling, the SEC approved the listing and trading of spot Bitcoin ETFs and, subsequently, spot Ethereum ETFs. In a somewhat unusual move, the firms argued that the SEC approved all spot Bitcoin ETF issuers to list their products on the same day, despite receiving proposals for the 11 different funds at different times. A return to a first-to-file approach is needed because, without it, the market becomes more concentrated, creating a "competitive imbalance," they said. "Moreover, the reduced incentive for pioneering product development has broader implications," the firms wrote. "It diminishes investor choice, compromises market efficiency, and fundamentally undermines the Commission's mission of protecting investors, maintaining fair, orderly and efficient markets, and facilitating capital formation." VanEck's Head of Digital Assets Research, Matt Sigel, previously told The Block that the firm was the first to file for a Solana ETF in June 2024, on the expectation that the SEC would return to a fairer, time-weighted standard for approving financial products. The SEC did not respond to a request for comment.

    Profile Photo

    Crypto Whale Data
  • yuga-labs-proposes-dismantling-apecoin-dao-over-failed-governance-replacing-it-with-new-entity-apeco-bored-apes-creator-yuga-labs-proposed-discontinuing-its-apecoin-dao-governance-system-to-establish

    Yuga Labs proposes dismantling ApeCoin DAO over failed governance, replacing it with new entity ApeCo Bored Apes creator Yuga Labs proposed discontinuing its ApeCoin DAO governance system to establish a new operating model for growing the Ethereum-based token Ape's ecosystem. "ApeCoin DAO was a bold experiment, but one born of a different era," Yuga Labs CEO Greg Solano wrote in the Thursday proposal. "What started with promise has devolved into sluggish, noisy, and often unserious governance theater." To salvage and advance the DAO's sole remaining merit — funding builders — Yuga Labs proposed replacing it with a new entity, ApeCo. The transition aims to eliminate ambiguity in governance and focus resources on building the ecosystem's three core pillars, which are ApeChain, Bored Ape Yacht Club and Otherside. It also plans to empower "real" builders by setting milestone-based grants and tighter accountability. Founded in 2022, the ApeCoin DAO launched ApeCoin on the Ethereum blockchain as an independent, decentralized entity that is separate from Yuga Labs, despite being connected to its ecosystem. However, the DAO has since struggled to maintain apt governance operations that benefit the project as a whole. "[The DAO] has been nothing but a joke, and a drag on the entire ecosystem, pillaged and slow and inefficient and overpoliticized since inception, with unaligned bad actors and extractors everywhere," wrote X user @OGDfarmer. "It's clear that [Solano's] Yuga would be better stewards." If the proposal is accepted, the ApeCoin DAO will be fully terminated, with all rights and powers of token holders related to governance and assets. It would also nullify previous ApeCoin Improvement Proposals (AIPs) and kill delegated authorities, working groups, elections, and forums. Yuga's latest proposal met with mostly positive feedback in the ApeCoin forum. The proposal has been put to a vote on the forum. It is, however, for checking community sentiment and not an official vote. Meanwhile, Yuga Labs recently sold off several popular NFT intellectual properties, including Moonbirds, CryptoPunks and Meebits, suggesting that the company is sharpening its focus on its core offerings. ApeCoin's price has dropped 50% in the past year, currently trading at $0.70, according to The Block's price page. The token is down 97% from its all-time high of $26.

    Profile Photo

    Crypto Whale Data
  • bitcoin-atm-operator-coinflip-seeks-buyer-for-potential-1-billion-sale-report-the-bitcoin-atm-operator-coinflip-could-potentially-join-the-spate-of-crypto-mergers-and-acquisitions-as-it-seeks-a-buye

    Bitcoin ATM operator CoinFlip seeks buyer for potential $1 billion sale: report The bitcoin ATM operator CoinFlip could potentially join the spate of crypto mergers and acquisitions as it seeks a buyer for a $1 billion sale, according to Bloomberg, citing people familiar with the matter. CoinFlip enlisted the help of a financial advisor to help navigate its preliminary sale stage. Although CoinFlip aims to secure at least $1 billion for the sale, it's not guaranteed that the firm will achieve that amount or if the sale will even proceed, according to Bloomberg's reporting. The Block reached out to CoinFlip for comment. CoinFlip is the second-largest operator of cryptocurrency ATMs behind Bitcoin Depot, which maintains a total of nearly 8,700 bitcoin ATMs, data from CoinATMRadar shows. CoinFlip's ATMs span the globe, with approximately 5,600 locations, including around 4,300 in the United States, according to the firm's website. In 2018, CoinFlip received seed financing from Shoreline Venture Management, JetBlue Technology Ventures, and Heads or Tails Investments. Cryptocurrency ATMs provide individuals with a physical location to purchase, sell, or send digital assets, primarily bitcoin. While they may provide individuals a convenient way to transact cryptocurrency, bad actors employ crypto ATM scams, particularly those targeting the elderly. United States lawmakers have introduced legislation, such as the Crypto ATM Fraud Prevention Act, this year to combat this type of fraud, The Block previously reported. Crypto M&A activity has been on the rise since at least November 2024. It continues its trend well into 2025, driven by improved regulatory clarity for the blockchain industry and renewed interest from web2 firms. Most recently, the trading app Robinhood completed its $200 million acquisition of the crypto exchange Bitstamp on June 3, The Block previously reported

    Profile Photo

    Crypto Whale Data
  • trumps-truth-social-files-s-1-with-sec-for-bitcoin-etf-truth-social-the-social-media-arm-of-trump-media-technology-group-has-submitted-a-form-s-1-registration-statement-to-the-u-s-se

    Trump’s Truth Social files S-1 with SEC for Bitcoin ETF Truth Social, the social-media arm of Trump Media & Technology Group, has submitted a Form S-1 registration statement to the U.S. Securities and Exchange Commission for the Truth Social Bitcoin ETF. The fund would hold spot Bitcoin and list on NYSE Arca, tracking the cryptocurrency's market price. The filing comes two days after NYSE Arca lodged a companion Form 19b-4 seeking exchange approval to trade shares of the proposed fund. Both submissions are standard dual filings required before an ETF can launch. In what appears to be a first for a crypto-ETF prospectus, the risk section cites potential effects of President Donald Trump’s pro-crypto push and regulatory overhauls, according to Eric Balchunas, a senior ETF analyst at Bloomberg. The filing notes the creation of an SEC crypto-task force in January and Trump’s March executive order establishing a Strategic Bitcoin Reserve, adding that “it is not possible to fully predict the potential impacts on the Sponsor, the Trust, TMTG, Crypto.com, their affiliates or third-party service providers.” “Pretty sure it's the first time ever the advisor is in the risk section,” Balchunas posted on X. Yorkville America Digital — listed as sponsor — acts in the role an advisor would play for an ETF filed under the U.S. Investment Company Act of 1940, in this case. Approval for the Truth Social Bitcoin ETF would deepen Trump-linked crypto activity. Last month, TMTG announced a $2.5 billion offering to build a corporate Bitcoin treasury. Also, the proposed Bitcoin fund would join a roster of U.S. spot-Bitcoin ETFs from BlackRock, Fidelity, Grayscale, and others that collectively manage about $126 billion worth of assets

    Profile Photo

    Crypto Whale Data
  • solo-bitcoin-miner-wins-330k-worth-of-block-reward-after-renting-hash-power-to-beat-steep-odds-ckpool-dev-says-on-thursday-a-single-bitcoin-miner-claimed-3-15-btc-worth-about-330386-for-mining

    Solo bitcoin miner wins $330K worth of block reward after renting hash power to beat steep odds, CKpool dev says On Thursday, a single bitcoin miner claimed 3.15 BTC, worth about $330,386, for mining block 899,826 with a solo-mining setup from CKpool. The miner earned $327,625 in subsidy rewards and some $2,761 in total transaction fees, according to data from Bitcoin explorer Mempool. “Congratulations to miner bc1qa8r4up9nchkvdnhcf9feexv2jfantrk48ef374 who recently ramped up hashrate for solving the 300th block solved at solo.ckpool.org!” Con Kolivas, the CKpool developer, said on X. BTC Hash rate calculates the total computational power miners deploy on the bitcoin network. The miner operated with a weekly hash rate of 6.11 PH/s, but increased their compute power as high as 261 PH/s to mine the bitcoin block. This suggests that the solo miner likely rented additional hash rate to better their odds of earning the block reward. “This hash rate was almost certainly a rental based on there being only one worker, though the account has been mining for a while with a much lower hashrate,” Kolivas noted. While this is the 300th block solved with CKpool and the miner likely leased extra hash rate, it’s no small feat for a solo miner to mine a bitcoin block. At Bitcoin’s total network hash rate of 796 EH/s on June 5, the lone miner had a 0.03 % chance — about 1 in 3,050 — of success. It’s also not the first time a similar case has occurred, although it's rare. In April 2024, a single miner beat 1 in 5,000 odds and earned $218,544 in block rewards. Another miner surpassed odds of 1 in 1.3 million and took home subsidies worth $260,000.

    Profile Photo

    Crypto Whale Data
  • nasdaq-listed-k-pop-media-firm-k-wave-stock-rallies-130-after-announcing-bitcoin-acquisition-strategy-k-wave-media-ticker-kwm-a-nasdaq-listed-k-pop-media-holding-company-is-the-latest-firm-to-purs

    Nasdaq-listed K-Pop media firm K Wave stock rallies 130% after announcing Bitcoin acquisition strategy K Wave Media (ticker KWM), a Nasdaq-listed K-Pop media holding company, is the latest firm to pursue a Bitcoin acquisition strategy, according to an announcement on Wednesday. The firm plans to sell up to $500 million worth of ordinary shares to finance its crypto treasury purchases, M&A activities, and other corporate operations. “Under this initiative, K Wave will, subject to certain limitations, allocate a significant portion of the proceeds received from the sale of any shares under the facility to the purchasing, long-term holding, and yield optimization of Bitcoin,” K Wave Media wrote. KWN is up 132.39% on the day, according to Yahoo Finance. According to The Block’s data, there are at least 20 firms worldwide with at least $5 million worth of Bitcoin on their balance sheet, as the trend of firms holding the cryptocurrency as a strategic reserve asset heats up. K Wave, for its part, claims that it is among the first “publicly traded media companies to integrate BTC directly into its core treasury operations.” The trend has largely been inspired by the success of Michael Saylor’s Strategy, which began buying Bitcoin in 2021 and currently holds over $60 billion worth of BTC. This year has seen the launch of several debt- and equity-fueled corporate Bitcoin treasuries, as well as similar companies founded to invest in alternative assets, such as Ether and Solana. K Wave noted that it drew particular inspiration from Metaplanet, the Japan-based firm that has been loading up on Bitcoin and Ether. K Wave's top brass “believes a similar model — combining public market access with a focused Bitcoin treasury initiative — will resonate with investors across Asia and the globe,” they said. K Wave Media, founded in 2023, is a diversified entertainment company based in the Cayman Islands, with a primary focus on the rapidly expanding K-Pop industry. The firm produces K-pop-related content and merchandise, tapping into the industry's growing influence and dedicated fan base. “By embedding BTC into our core strategy, we’re reinforcing our commitment to decentralization, agility, and future-facing value creation,“ Ted Kim, co-interim CEO of K Wave Media, said in a statement.

    Profile Photo

    Crypto Whale Data
  • south-korea-elects-pro-crypto-lee-as-new-president-crypto-etfs-and-krw-stablecoins-on-horizon-south-korea-officially-named-left-wing-party-candidate-lee-jae-myung-as-its-new-president-on-wednesday-a

    South Korea elects pro-crypto Lee as new president; crypto ETFs and KRW stablecoins on horizon South Korea officially named left-wing party candidate Lee Jae-myung as its new president on Wednesday, after former leader Yoon Suk-yeol's failed military rule and subsequent backlash led to his impeachment after three years as president. On Tuesday, the country saw a voter turnout of 79.4%, the highest rate in 28 years. Lee took 49.42% of the votes against right-wing opponent Kim Moon-soo's 41.15%. While Lee vowed to tackle the country's urgent economic challenges including more support for lower-income families and small business owners, he also pledged to build a stronger foundation for the local crypto industry. Lee's crypto pledge includes the local adoption of spot cryptocurrency exchange-traded funds, an idea the country's financial authorities have been toying with since the success of U.S. crypto ETFs. Local issuance and trade of any crypto ETFs are banned locally as of today. Another key push is the approval of stablecoins pegged to the Korean won. Lee, in a discussion last month, stated that the country needs to establish a won-based stablecoin market to prevent the outflow of domestic capital. Under his leadership, South Korea will also strive to finish the second legislation to the two-part digital asset regulatory framework, where the upcoming law will have a focus on stablecoin regulation and transparency mandates for exchanges. Some other crypto promises include minimizing regulations in areas designated as special regions for blockchain growth to maximize innovation and efficiency. Not the first However, this is not the first time South Korea elected a candidate that promised to push crypto into the limelight. Impeached conservative president Yoon made several crypto-friendly promises aimed at deregulating the crypto industry, but many saw delays and limited progress during his three-year term. Yoon's plans to deregulate the crypto industry met resistance from the Financial Services Commission, which did not ease its strict regulations, citing investor protection. Nonetheless, the FSC has since become more amenable to easing strict crypto rules, which could benefit Lee's crypto commitments. South Korea hosts one of the world's largest cryptocurrency markets, characterized for its focus on altcoin trading. As of the end of last year, South Korea had 9.7 million crypto exchange users, which is nearly 20% of its total population, according to the FSC.

    Profile Photo

    Crypto Whale Data
  • solana-based-memecoin-generator-pump-fun-raising-1-billion-via-token-sale-report-pump-fun-the-memecoin-generator-that-revitalized-the-solana-ecosystem-plans-to-raise-1-billion-through-a-token-sal

    Solana-based memecoin generator Pump.fun raising $1 billion via token sale: report Pump.fun, the memecoin generator that revitalized the Solana ecosystem, plans to raise $1 billion through a token sale at a $4 billion valuation, according to a Tuesday Blockworks report citing unnamed sources. The token will reportedly be offered to public and private investors. It is unclear when or where the token launch will occur. The Block has reached out to Pump.fun representatives for confirmation. Pump.fun, launched in early 2024, has been a breakout success. The platform enables anyone to quickly and easily deploy a token — and is now responsible for the majority of memecoin launches and trading on Solana, driving significant revenue to the network. The platform’s daily revenue peaked at over $7 million on Jan. 23, though it has since decreased to around $1 million per day, according to The Block data. The platform was designed with a bonding curve that adjusts token prices based on supply and demand. Initially, once a token launched on Pump reached a market cap of $69,000, it "graduated" to the decentralized trading platform Raydium. However, Pump.fun made waves when it launched a bespoke automated market maker, called PumpSwap, which Raydium responded to by launching a rival memecoin generator, LaunchLab. Pump.fun also recently re-launched its controversial live-streaming feature that was suspended following a series of content moderation complaints.

    Profile Photo

    Crypto Whale Data
Load More
Recent activity

  • Crypto Whale DataThis wallet account is Animalverse Club NFTs holder has been Verified posted an update

    10 hours, 7 minutes ago

  • Crypto Whale DataThis wallet account is Animalverse Club NFTs holder has been Verified posted an update

    23 hours, 21 minutes ago

  • Crypto Whale DataThis wallet account is Animalverse Club NFTs holder has been Verified posted an update

    1 days, 11 hours ago

  • Crypto Whale DataThis wallet account is Animalverse Club NFTs holder has been Verified posted an update

    2 days ago

  • Crypto Whale DataThis wallet account is Animalverse Club NFTs holder has been Verified posted an update

    2 days, 11 hours ago
Guest
Create an account