Crypto Whale Data
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DeFi vs. Wall Street: Blockchain Association challenges Citadel over SEC's innovation exemption
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HypurrFi investigates domain hijacking, warns users from interacting with lending protocol
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Bittensor breakout fuels AI token rally as distributed training gains credibility
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Paradigm mulls prediction market entry with trading terminal, market making desk: Fortune
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Ripple partners with former Western Union unit to 'enhance' cross-border payments
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Gnosis and Zisk announce 'Ethereum Economic Zone' rollup framework with Ethereum Foundation co-funding
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JPMorgan says bitcoin shows safe-haven-like demand during Iran war as gold and silver weaken
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South Korea sees $60 billion crypto outflows to overseas platforms and private wallets in H2 2025
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Grayscale files for HYPE ETF tracking largest onchain perps DEX Hyperliquid
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Iran’s permits-for-passage through Hormuz system is developing fast
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Argentina orders nationwide block of Polymarket as scrutiny of prediction markets grows
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Custodia's five-year fight for a Fed master account effectively ends in 7-3 appeals court loss
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TON cancels Dubai event over safety concerns in UAE amid Middle East conflict
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SEC and CFTC commit to work together on crypto policy and introduction of new products
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Binance terrorism lawsuit dismissed, but judge signals plaintiffs could refile with sharper allegations
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Pudgy Penguins accused of trademark infringement by Penguin apparel brand
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Coinbase CEO Brian Armstrong says Base App's SocialFi features 'didn't quite work'
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Riot Platforms reports record annual revenue of $647 million amid AI and HPC push
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SEC is seeking to regain crypto ground following 'missed opportunity,' Chairman Atkins says
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Venmo, PayPal consumer reach could bolster Stripe in potential acquisition deal: Mizuho
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Pantera-backed Solana Company kicks off APAC staking infrastructure buildout
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Vitalik Buterin is building a 'cypherpunk principled non-ugly Ethereum' as devs officially add FOCIL to upgrade roadmap
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Fintech firm Newity raises $11 million to bring small business loans onchain
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Ethereum's tokenized RWA market jumps more than 300% year over year as value tops $17 billion
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X to launch 'Smart Cashtags' for in-timeline crypto and stock trading within 'a couple weeks
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Birch Hill raises $2.5 million pre-seed round led by ParaFi Capital and Castle Island Ventures for institutional onchain credit infrastructure
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Vitalik Buterin sketches near-term vision for Ethereum's role in an AI-driven future
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Aave Labs sunsets Avara 'umbrella brand' and Family wallet as it refocuses on DeFi
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Coinbase, crypto and bank organizations set to hash out stablecoin rewards at White House summit on Monday
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Token creation platform Doppler raises $9 million seed round led by Pantera Capital
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Global crypto ETPs log $1.7 billion in weekly outflows as bearish macro sentiment spurs largest withdrawal since November: CoinShares
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Dogecoin gets another ETF but Wall Street's memecoin appetite remains muted
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Dogecoin gets another ETF but Wall Street's memecoin appetite remains muted
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Former Alameda Research co-CEO Caroline Ellison scheduled for release on Wednesday
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Crypto payment cards hit inflection point as daily transactions surge 22x since late 2024
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The Daily: Jefferies strategist drops 10% bitcoin allocation over quantum fears, Google Play bans overseas crypto exchanges in South Korea, and more
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Russia finalizes bill to open up crypto market to non-qualified traders: report
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Senators move to shield crypto developers as lawmakers race toward advancing sweeping digital asset bill
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UK committee chairs push for crypto political donations ban, adding pressure to Labour government
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Polymarket faces first state-level cease-and-desist from Tennessee, weeks after US relaunch: report
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Rain valuation nears $2 billion after $250 million Series C raise for stablecoin payments firm
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Sei warns USDC.n token holders to swap for 'native' stablecoin ahead of planned upgrade
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Coinbase and Gemini face divided outlook as analysts weigh exchange expansions beyond crypto
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'A record year for wrench attacks': How crypto holders can maintain physical security amid rising risks While the frequency of crypto protocol exploits has yet to regain the record pace set during the pandemic-era bull market, 2025 stands out for crypto security experts on at least one front: the frequency of so-called “$5 wrench attacks.” According to Ari Redbord, the global head of policy and government affairs at crypto analytics firm TRM Labs, “2025 was a record year for wrench attacks,” with roughly 60 reported physical assaults on crypto holders. “The true number is likely significantly higher,” Redbord added. “Many incidents are logged simply as robberies or burglaries, with the crypto element omitted, while others are never reported due to victim hesitation or uncertainty about how law enforcement will handle crypto-related crimes.” A “wrench attack” is a type of cybersecurity risk that derives its name from the idea that even the most sophisticated forms of encryption and data security can be undone by physical coercion — like being threatened by a “$5 wrench.” Crypto exploits in general tend to rise in frequency alongside prices — 2025 also saw a rebound in protocol exploit losses close to pandemic-era highs. However, wrench attacks not only put assets at risk but also lives, upping the ante for maintaining proper OPSEC beyond wallet management best practices. “No matter how many technical precautions you take or how many factors you authenticate with, no individual is immune to human attack vectors,” Tor Bair, CEO of Hybrid Minds Advisory and former president of the Secret Foundation, told The Block. Some sources, like the log maintained by OG Bitcoiner and security expert Jameson Lopp, who for over a decade has tracked media reports of known attacks against crypto holders “that occurred in meatspace,” place the figure closer to 70 wrench attacks. This is compared to approximately 41 assaults recorded in 2024 and 36 in 2021, the years with the next-highest levels of known wrench attacks, according to Lopp’s data. Although the true number of wrench attacks is difficult to quantify, there appears to be either a higher risk of victimization or, at least, a greater awareness of the threat. For instance, earlier this year, French Interior Minister Bruno Retailleau commented on the rise of crypto-related assaults in the country, which at the time had experienced about one-third of wrench attacks in 2025, including the high-profile kidnapping and torture of Ledger co-founder David Balland and his wife in January. Staying safe Many crypto security experts have anecdotally confirmed that wrench attacks are on the upswing. Nick Bax, founder of Ump.eth and member of SEAL, attributed many attacks to “poor privacy” at a personal level — like people “flexing their net worth in group chats” — as well as corporate data breaches. This year, for instance, Coinbase disclosed a major data breach where rogue customer service representatives accessed many customers’ KYC details — including addresses, phone numbers, government IDs, and other sensitive info — in an attack that could have long-lasting implications. Though it is far from the only firm — crypto-native or not — to leak sensitive information. The website Have I Been Pwned estimates that over 17 billion email accounts alone have been exposed in data leaks, including by leading crypto exchanges and service providers. “The most effective mitigation is reducing exposure and strengthening key management — limiting public signals of crypto ownership on social media, using multisignature or passphrase-protected wallets, and separating everyday wallets from long-term holdings,” TRM’s Redbord said. Pablo Sabbatella, co-founder of security firm Opsek, echoed this by recommending crypto holders maintain different levels of wallet protection for their long-term and medium-term savings and funds needed for daily use. “You can’t have direct access to long-term funds,” Sabbatella told The Block. “Design systems that do not allow you to move your long-term funds alone,” like setting up a 2-out-of-3 multi-sig and 72-hour time lock. Users can also set up whitelisted addresses and protocols for their long-term storage, ensuring that funds cannot be moved to unapproved accounts. Odysseas of security protocol Phylax also suggested setting up a decoy account with “a substantial but not deadly amount” of a user’s holdings that could be forfeited under duress. In addition to those digital security measures, Sabbatella recommends “physical security training,” which teaches potential targets best practices for high-risk events like conferences and social media hygiene. Users should not only come up with a “plan and procedures” but also do live simulations, he added. “There is no such thing as perfect security, only better security, and it always comes at a cost,” Bair said.
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South Korea's stablecoin bill stalls over issuer eligibility dispute South Korea's upcoming crypto regulation may impose strict investor protection requirements on stablecoin issuers, though progress has been pushed into next year as authorities remain deadlocked over which entities should be permitted to issue the assets. According to a Tuesday report from Yonhap news agency, the Financial Services Commission's proposed "Digital Asset Basic Act" seeks to require stablecoin issuers to manage reserve assets in bank deposits or government bonds. The proposal would also mandate that issuers entrust 100% of their outstanding reserve assets with custodians such as banks. With this measure, South Korea aims to prevent risks stemming from a stablecoin issuer's bankruptcy from spilling over to investors. The proposal would also subject digital asset service providers to disclosure obligations, terms of service, and advertising standards comparable to those applied in traditional finance. Additionally, in the event of hacks or system failures, providers could be held liable for damages regardless of fault, similar to existing rules for online retail businesses. Under the proposed framework, South Korea could permit initial coin offerings (ICOs) for local projects that meet the strict information disclosure and robust risk management standards. ICOs have been banned domestically since 2017. Deadlock However, South Korea's stablecoin regulations remain at a stalemate, as the scope of entities permitted to issue the tokens continues to be a point of contention. The Bank of Korea has insisted that stablecoin issuance should be restricted to a consortium in which banks hold at least a 51% stake. The FSC, on the other hand, maintains that the upcoming law should avoid establishing a rigid ownership threshold, arguing that such a restriction would hinder tech firm participation and stifle innovation. The two authorities also remain divided on whether to establish a new consultative body for the licensing of stablecoin issuers, the report said. The Bank of Korea (BOK) advocates creating a dedicated committee to oversee the process, while the FSC argues that a separate body would be redundant, noting that it already functions as a statutory administrative entity that includes representatives from both the BOK and the Ministry of Economy and Finance. In response to the government's legislative delay, the ruling Democratic Party is developing a separate proposal that synthesizes various lawmaker-led initiatives on digital assets, Yonhap added. Local stablecoin efforts have gained momentum in South Korea as President Lee Jae Myung, who was elected earlier this year, made the development of a Korean won-stablecoin market one of his key initiatives with an aim to protect monetary sovereignty against the dominant U.S. dollar stablecoin market. The Digital Asset Basic Act under development represents the second part of the country's all-encompassing regulatory framework on cryptocurrencies. The first batch of rules — passed in July 2023 and went into effect a year later — focuses on curbing unfair acts in the digital asset market, such as price manipulation and insider trading.
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Flow blockchain probes security incident as FLOW token plunges over 40% The Flow Foundation announced Saturday that it is investigating a potential security incident affecting its Layer 1 blockchain, prompting major South Korean exchanges to halt token transfers and triggering a sharp selloff in the “The Flow Foundation is currently investigating a potential security incident affecting the Flow network,” the team wrote on X. “Our engineering teams are actively collaborating with network partners to mitigate the issue. We will provide further, verified updates as soon as they are available.” Onchain analyst Wazz first flagged what appears to be the exploit shortly after the price crash, estimating around $4 million was stolen. According to Wazz’s analysis, an attacker used a wallet created approximately six months ago to mint millions of wrapped FLOW (WFLOW) tokens through a TransparentUpgradeableProxy contract, a pattern consistent with a private key compromise rather than a smart contract vulnerability. “Flow blockchain had [a possible vulnerability] that allowed the attacker to mint native token, FLOW, and other bridged tokens like WBTC, WETH, and stablecoins,” security expert Taylor Monahan told The Block in a direct message. “Looks like $3.9 million [lost]…All pools and bridges are now paused.” FLOW plummeted more than 40% in the hours following the incident, per The Block’s Flow Price page. The token was trading around $0.10 Saturday afternoon, down from approximately $0.17 earlier in the day. Trading volume has surged to over $170 million in the past 24 hours. South Korean exchanges Upbit and Bithumb moved quickly to suspend FLOW deposits and withdrawals following the disclosure. The Digital Asset Exchange Alliance, or DAXA, the consortium comprising Korea’s five largest crypto exchanges, issued a formal “transaction risk warning” for the token and said member exchanges may take additional protective measures, including trading restrictions or termination of support, depending on how the situation develops. Flow is the Layer 1 blockchain developed by Dapper Labs, the company behind popular NFT projects NBA Top Shot and CryptoKitties. The network was designed specifically for consumer applications and digital collectibles, and at its peak in 2021 powered hundreds of millions of dollars in monthly NFT trading volume. The blockchain has faced challenges in recent years as the NFT market cooled. Dapper Labs, which was valued at $7.6 billion in 2021, has undergone multiple rounds of layoffs since 2022. The Flow Foundation did not immediately respond to a request for further information on the breach from The Block. The incident comes as the crypto industry grapples with a record year for security breaches. Cryptocurrency theft totaled more than $3.4 billion in 2025, according to Chainalysis, with the $1.5 billion Bybit hack in February accounting for nearly half of the annual total. Private key compromises have emerged as a leading attack vector this year, accounting for 88% of stolen funds in Q1 2025.
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Bitcoin sits out Santa rally as stocks and precious metals set records A year-end rally across global markets has pushed U.S. stocks and precious metals to fresh record highs, but bitcoin has been left out in the cold, drifting lower as traders pull back risk into the holiday period. Bitcoin traded around $87,200 on Friday, down roughly 6.5% from its 2025 open near $93,000, according to The Block’s price data, despite having reached an all-time high above $126,000 in early October. Price action has remained subdued through the holiday week, with the cryptocurrency continuing to oscillate below the $90,000 level. Bitcoin (BTC) price chart. Source: The Block/TradingView Analysts have pointed to Friday’s record $28 billion crypto options expiry as the dominant short-term catalyst, amplifying price swings in thin year-end trading. “The tone remains defensive,” BRN head of research Timothy Misir said earlier this week, noting that upside attempts have struggled to gain follow-through. Wall Street flows have echoed that caution, with U.S. spot bitcoin ETFs seeing roughly $500 million in net outflows this week and about $4.3 billion pulled over the final two months of the year, alongside a more than $1.2 trillion decline in total crypto market value. Historic precious metals rally While bitcoin has drifted lower, precious metals have surged. Gold climbed to a record above $4,580 per troy ounce on Friday, while silver pushed past $75, setting new all-time highs. Silver is up roughly 160% from its 2025 open near $30, while gold has gained over 70% this year. The rally has been driven by escalating geopolitical tensions, a weaker U.S. dollar and year-end liquidity conditions that have amplified price moves, according to analysts. Central-bank purchases, ETF inflows and expectations for further Federal Reserve rate cuts in 2026 have also supported demand for non-yielding assets, according to a recent Bloomberg report. Silver’s advance has been particularly sharp, with speculative inflows and lingering supply dislocations following an October short squeeze continuing to pressure physical markets. Stocks hold near record highs U.S. equities, meanwhile, have remained resilient into the final trading sessions of the year. The S&P 500 and Dow Jones Industrial Average closed the shortened Christmas Eve session at record highs, extending a multi-day rally that has lifted major indexes through late December. The S&P 500 is up roughly 18% year-to-date, while the Nasdaq has gained more than 20% in 2025, according to Google Finance.
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Midterms, shutdown risks and negotiations: Can Congress pass a sweeping crypto bill in 2026? The next year is set to be pivotal for cryptocurrency legislation, with the big question being whether lawmakers can pass an all-encompassing bill to regulate digital assets before the midterms. Crypto advocacy sources who spoke with The Block gave a range of 50% to 60% chance of such a bill becoming law in 2026. Optimism lies in ongoing discussions between Democrats and Republicans, but there are still several issues that need ironing out. Kevin Wysocki, head of policy at Anchorage Digital, gave a bill's chance of passing into law in 2026 a 50% chance. "I think what's really good is that members of Congress are talking quite a bit between Republicans and Democrats, so that's a very positive sign," he told The Block. "Some of the issues that are still [debated] are difficult, and the legislation itself encompasses banking laws, securities law, commodity law — so it's complicated." Lawmakers in the Senate are tackling an all-encompassing bill that seeks to regulate the crypto industry at large. The Senate Banking Committee has a draft that looks to allocate jurisdiction between two main federal agencies — the Securities and Exchange Commission and the Commodity Futures Trading Commission — as well as create a new term for "ancillary assets" to clarify which cryptocurrencies are not securities. Meanwhile, the Senate Agriculture Committee, which oversees the CFTC, has drafted legislation it released last month that would give new authority to that agency. Both committee versions of the bill would need to be reconciled. There had been some optimism that the Senate Banking Committee would hold a hearing to amend and vote on the bill before the end of the year, but those spirits were dashed. However, a Senate Banking Committee spokesperson said they are now looking to markup the bill early on in the new year and noted progress had been made with Democrats. "Chairman Scott and the Senate Banking Committee have made strong progress with Democratic counterparts on bipartisan digital asset market structure legislation," the spokesperson said. "The Committee is continuing to negotiate and looks forward to a markup in early 2026." The sticking points There are several pain points in the crypto market structure bill that need to be addressed, sources said. One flashpoint has been tension between banks and crypto companies on how yield-bearing stablecoins should be regulated. Banking trade groups say that the stablecoin legislation known as GENIUS, which became law over the summer, leaves key loopholes unaddressed. In particular, they argue that the statute does not sufficiently bar issuers from offering interest on stablecoins. That omission, they warn, could turn stablecoins into vehicles for savings and credit rather than simple payment tools, introducing what they describe as “distorting market incentives” for traditional banks. Crypto advocates, by contrast, say the ability to offer yield on stablecoins represents nothing more than fair and healthy competition. Another issue has been how to regulate decentralized finance, specifically how to regulate DeFi protocols in terms of anti-money laundering concerns and whether some tokens should be under the jurisdiction of the SEC or CFTC, said The Digital Chamber CEO Cody Carbone. There is concern that the SEC would be the decision maker, given the agency's former more critical stance of crypto under former SEC Chair Gary Gensler, he added. "I will say that I know from industry, it is very worrisome to have legislation that says the SEC will be the first decision maker whether a token is a security or commodity because that looks a lot like going down the Gary Gensler route, where the SEC is the only cop on the street and is deciding everything," Carbone said. Another issue in the crypto market structure bill is around President Donald Trump's conflicts of interest in crypto. Bloomberg estimated in July that the sitting president has profited some $620 million from his family's crypto ventures, including the World Liberty Financial DeFi and stablecoin project, which lists Trump and his three sons as co-founders. The family also has a 20% stake in the mining firm American Bitcoin, and legislators have repeatedly raised concerns about the free-floating TRUMP and MELANIA memecoins launched the weekend before Trump took office. Sen. Cynthia Lummis, R-Wyo., who has been involved in the negotiations on passing a bill in the Senate, said in December at the Blockchain Association Policy Summit in Washington, D.C., that the White House had been involved in language around ethics. Lummis said she and Democratic Sen. Ruben Gallego sent over language to the White House, but it was kicked back. The absence of commissioners at the CFTC has also come under scrutiny and has become a solid negotiating tool for Democrats, Carbone said. Over the past year, four CFTC commissioners — Democrats Kristin Johnson and Christy Goldsmith Romero, as well as Republicans Caroline Pham and Summer Mersinger — have left the agency or announced plans to do so. Pham, a Republican, is now acting chair but has said she plans to leave once a new CFTC chair, Mike Selig, is confirmed. That leaves the agency, which is set to have broader jurisdiction over crypto, with one Republican commissioner. "I don't think any senator wants to hand over so much power to this small agency that only has a chair when it's supposed to be a five-member commission," Carbone said. Looming elections What happens next in the Senate is going to be really pivotal, sources said. Once the Senate Banking Committee has its bill in place and is then voted on and advanced out of the committee, it needs to be combined with the Senate Agriculture Committee's version and voted on by the full Senate, Carbone said. Then, the Senate crypto market structure bill needed to reconcile with the House version, called Clarity, which passed out of the full House over the summer. "There's just so many steps that still need to happen," Carbone said. If markups for bills in the Senate don't happen in January, Carbone said he would be worried. "They just need to show progress right out of the gate," Carbone said. "So if I see a markup in both committees and I see a compromise bill in the Senate and we've got a potential Senate floor vote in the next six weeks, then I'm feeling very good," he said. "If we don't have those things in January, I'm feeling very pessimistic." And then come the midterm elections, as some lawmakers focus on their own races. Lawmakers have about the first half of next year to pass a crypto market structure bill before election season takes hold, Anchorage's Kevin Wysocki said. "In terms of timeline, I think we're looking at the first two quarters of next month before members are really focused on election matters," he said. "And then maybe there's a small window of opportunity around the holidays at the end of 2026 to move this legislation post-election." Some Senate Democrats are really passionate about a crypto market structure bill and want to see it passed, said Saga CEO Rebecca Liao. Liao was also a member of former President Joe Biden's 2020 presidential campaign. However, having enough time is a challenge as they face midterm elections and another budget discussion, she said. Congress temporarily funded the government following a 43-day shutdown that ended in November. That funding extends through Jan. 30, 2026, but if funding isn't agreed to again, the government will shut down again, putting a pause on work on a crypto market structure bill. The closer midterm elections get, the more Trump's crypto conflicts of interest could come into the spotlight, Liao said. "We're seeing a real Democratic message coalescing around affordability, and so anything that smacks of privilege or unjustified gains by the president or the people in his administration, all of that is going to be hammered time and again in Democratic messaging," she said. As for what happens if lawmakers are ultimately not able to pass a crypto market structure bill into law in 2026, Liao said something has to get done, especially as financial institutions have gotten into digital assets. "In order for crypto to actually get to adoption and mass utilization, you really do need regulatory clarity, and so I think people will push for it again," she said.
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Crypto.com hiring quant trader for sports event prediction market making in the US Crypto.com is hiring a quant trader focused on sports event market-making as it pushes deeper into prediction markets amid growing regulatory scrutiny. The role centers on pricing and providing liquidity for sports event contracts, which allow users to trade yes-or-no outcomes tied to real-world sporting events. According to the job listing, with a low-end annual salary of $120,000, the US-based trader would be responsible for continuously quoting markets, managing risk, and adjusting prices in real-time as games unfold and new information emerges. The hiring effort comes as Crypto.com expands its footprint in prediction markets through high-profile partnerships. Earlier this month, sports apparel giant Fanatics launched a fan-focused prediction market built on Crypto.com’s regulated U.S. derivatives infrastructure, joining earlier collaborations with Truth Social and MyPrize. Those products compete in a fast-growing field alongside platforms such as Polymarket and Kalshi, which together see billions of dollars in monthly trade volume according to The Block data. The hire follows a flurry of moves across the industry, including Coinbase’s agreement last week to acquire prediction markets startup The Clearing Company as exchanges compete to own pricing, liquidity and distribution in event-based trading. At the same time, the space remains legally contentious. Connecticut regulators last week ordered Crypto.com, Kalshi and Robinhood to halt sports event contracts for state residents, arguing the products constitute unlicensed sports wagering despite federal approval pathways through the Commodity Futures Trading Commission.
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MoMA adds CryptoPunks and Chromie Squiggles NFTs to permanent collection following coordinated donation The Museum of Modern Art in New York has acquired eight CryptoPunks and eight Chromie Squiggles for its permanent collection, marking one of the most significant institutional endorsements of onchain art to date. The 16 works, all donated rather than purchased, will be housed in MoMA’s Media and Performance department alongside video, experimental technology, and other new media art. The works can be viewed on MoMA’s website
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