Crypto

Dutch Prosecutors are selling $2.5M of crypto acquired from the bankrupt platform Knaken. The trustee stated that Knaken had purchased the coins in its own name, leaving customers with only a euro claim against the collapsed company.

The upcoming week of crypto news focuses on several key developments, including the Coinbase-Circle USDC collaboration and analysis of FOMC minutes. Market attention will also be given to global economic indicators such as oil prices.

A national bank regulator granted conditional approval for World Liberty Trust, described as a crypto venture linked to the Trump family, to establish a bank charter. This unprecedented move opens potential opportunities for the business to serve larger clients.

Volatility is exiting both crypto and TradFi markets. However, risks related to the U.S.-Iran dynamic remain persistent, coupled with rising sovereign debt.

The SEC is planning new rules for tokenized stocks. A new framework could be announced as soon as Friday, representing a potentially major development for crypto this year.

Generation Z shows growing reliance and trust in crypto, creating a generational divide regarding investment strategies. According to an OKX sponsored survey, 40 percent of Generation Z and 41 percent of millennials reported feeling confident about crypto platforms.

CoreWeave saw a surge of 16% following a quarter that generated $2.58 billion in revenue. The company's strong performance indicates that demand for AI infrastructure is significantly eclipsing demand related to crypto.

Suspected North Korean IT workers were drawn into a fake crypto startup. The article reports that these workers participated without knowing that their every action was being monitored and tracked to extract valuable intelligence.

North Korea is currently utilizing crime networks to launder stolen cryptocurrency. The article warns that when proceeds mix with scam money, exchanges struggle significantly to separate proliferation finance from ordinary laundering activities.

MoneyGram plans to expand its services using Solana to facilitate a new global crypto-to-cash service.

UK lawmakers have pressed banks to explain how the upcoming FCA crypto regime may alter their current policies regarding digital asset firms. Lawmakers cited the issue as one of the single biggest barriers to growth.

Software stocks have been observed breaking away from Bitcoin, creating a rare market divergence. This separation suggests potential implications for the broader cryptocurrency sector.

Coinbase has opened derivatives trading in the UK market. This offering includes futures, perpetuals, and options spanning various asset classes. These products cover crypto, commodities, equities, and FX, but service is restricted to professional investors.

Coldcard, a manufacturer of offline crypto storage devices, was hit by a security lapse that resulted in at least $100 million worth of Bitcoin being stolen from customers. The breach occurred because Coldcard failed to implement a randomized process for creating seed phrases, instead relying on a predictable pattern that allowed hackers to guess others. This incident has sparked debate about the reliability of hardware wallets versus using reputable exchanges.

Kimsuky is conducting cyberattacks by integrating generative AI into its methods. They use this technology to produce phishing documents that are themed around various financial areas, including digital assets, investment strategies, and fintech services. These attacks primarily target the crypto and finance sectors.

XRP is reportedly struggling to participate in the current crypto bounce. This underperformance occurs even as Exchange Traded Funds (ETFs) continue successfully attracting investor capital.

The Senate will not vote on the crypto Clarity Act before its summer break.

The S&P 500 has added crypto's $2 trillion market cap during this month. However, despite the significant financial addition, Bitcoin reportedly remains unimpressed.

Crypto campaign efforts experienced a rare loss, but the number of crypto supporters in Congress is expected to increase. The article highlights a mixed outcome for cryptocurrency-related political campaigns.

Bitwise's Matt Hougan argues that regulatory guidance from the SEC and CFTC will sustain the crypto industry's momentum even if Congress does not pass major market structure legislation this year. The article highlights that clarity from regulators, rather than legislative action, may be sufficient to keep the industry advancing.

Bitwise CIO Matt Hougan states that cryptocurrency will remain stable even if the Clarity bill fails to pass in the US Senate. The Congress is set to enter a recess next week, providing a three-day window for the bill to advance.

Caleb & Brown, a boutique brokerage, is expanding to the UK and targeting high-net-worth clients in the crypto market. The firm aims to capitalize on untapped demand by avoiding direct competition with retail crypto exchanges.

Fake World Assets repurposes forgotten NFTs through an onchain lottery system, raising questions about the sustainability of this emerging crypto trend. The concept, referred to as 'onchain gacha,' has become a recent obsession in the crypto space.

The article 'Counting down the days: State of Crypto' appears to focus on the current status or developments in the cryptocurrency market, though no specific details are provided in the content.

Duogox, an online casino, is accused of using hacked social media profiles to distribute USD2500 promo codes. Users claim they cannot withdraw earnings or deposits due to unverified accounts and mandatory crypto chargebacks, with no customer support available.

The article discusses the intersection of cryptocurrency and Wall Street through the use of perpetual contracts (perps). It highlights how this financial instrument is bridging traditional markets with crypto trading.

A crypto PAC has donated $1 million to support Shri Thanedar's re-election campaign in Michigan's House race through industry-aligned ad funding. The donation highlights increased crypto industry influence in the contest against other candidates.

The CEO of STS Digital identifies three barriers hindering the next bull run in cryptocurrency. The article highlights challenges to crypto's growth as discussed by the STS Digital CEO.

The IRS warns crypto holders about fraudsters sending fake letters to steal digital assets or data. Increased IRS correspondence on crypto is due to requirements for taxpayers to disclose activity.

A user reported encountering scam photos related to Mr. Beast and crypto on Instagram and Discord after not using their phone for weeks. The scam photos appeared in their Instagram stories and were shared twice on Discord with friends.

The user discovered unauthorized photos about crypto and a Mr. Beast giveaway posted on their Instagram story and sent via DMs. After changing passwords, similar unauthorized activity occurred on Snapchat, and their Discord account had its password changed without notification. A suspicious login from Australia was detected on Discord.

SoFi's crypto transaction revenue increased by 10% to $134 million in Q2, though it remains a small portion of the company's $1.2 billion quarterly adjusted net revenue. The growth indicates sustained performance in the crypto segment.

The crypto industry's 24/7 trading model is challenging Wall Street's dominance in AI stocks. The article references Rahul Patel's insomnia two years ago as a personal anecdote.

A user received a text message from 'Onelink' containing a verification code but no link. Onelink is associated with crypto and financial services like Klarna, which the user does not use. The user is concerned about a potential security breach.

Crypto is changing how Wall Street traders spend their weekends. The article highlights a shift in behavior among traders due to cryptocurrency activities.

Coinbase CEO Brian Armstrong argues that crypto firms shifting focus to AI is 'zero-sum' thinking, emphasizing that crypto serves as foundational infrastructure for AI. He states AI agents will require cryptocurrency to enable autonomous transactions.

Senate Majority Leader John Thune faces multiple demands as he moves toward recess, including a vote on Jay Clayton's nomination, objections from Republican senators over a voter ID bill, pressure from President Donald Trump to approve a budget, and bipartisan requests on crypto, college sports, and Russia sanctions. Thune has prioritized Trump’s nominees, government funding through the election, and potential Russia sanctions.

The article discusses how tokenization could democratize access to weather derivatives, positioning this as a critical real-world application for cryptocurrency. It highlights the potential of blockchain technology to expand the use cases of crypto beyond traditional financial markets.

Real-world assets such as stocks, commodities, and market indices have surpassed crypto on Hyperliquid, the world's largest decentralized derivatives exchange. ARK has stated that this development changes everything.

Senate Republicans are advancing the Clarity Act to regulate cryptocurrency and include ethics provisions targeting President Donald Trump’s financial interests. Democrats argue the legislation fails to adequately prevent Trump from profiting off crypto. The bill includes measures like banning officials from creating profit-driven digital currencies and requiring disclosures, though critics claim it does not fully address conflicts of interest.