News & Research

Around 40 minutes ago, a wallet associated with crypto financial firm Matrixport withdrew 5,000 ETH (about $13.01 million) from Binance Exchange and transferred it to another wallet, according to The Data Nerd on X.

An Ethereum (ETH) ICO whale transferred 1,000 ETH, valued at about $2.6 million, to Kraken Exchange, according to Onchain Lens on X. The whale, who initially acquired 100,000 ETH during the ICO for $31,100, still holds 3,000 ETH worth around $7.79 million.

Crypto exchange Bitstamp announced on its official blog that it has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), marking a significant milestone in its expansion into the Asia-Pacific (APAC) region. The news follows Bitstamp’s recent acquisition by Robinhood, a U.S.-based platform known for stock and cryptocurrency trading.

New York-based law firm Pomerantz LLP filed a class-action lawsuit against Strategy, claiming it misled investors about the profitability of its Bitcoin (BTC) strategy and downplayed risks, according to The Block. Filed in Virginia, the suit covers investors from April 2024 to April 2025 and cites $5.9 billion in Q1 unrealized losses under new accounting rules. Investors can join the case until July 15.

South Korean payments company Danal has filed 20 trademark applications related to won-based stablecoins, according to a report by Money Today. The move is part of the company’s broader roadmap to establish an early foothold in the anticipated domestic stablecoin market. To prepare for future regulatory developments, Danal submitted applications for trademark names including Pitch, PCIK, KRWD, KRWS and PSC.

Swiss-based crypto bank AMINA has launched custody and trading services for Ripple’s USD-backed stablecoin RLUSD with an initial focus on institutional and professional clients. According to CoinDesk, the bank intends to broaden its RLUSD offerings over the coming months.

Arthur Hayes, co-founder of cryptocurrency exchange BitMEX, argues that buying U.S. government bonds is a mistake, even though many financial advisors recommend them, according to his Substack post. He believes it's smarter to invest in Bitcoin (BTC) or the Nasdaq, which offer far greater upside potential. Hayes also warns that the U.S. government's support for stablecoins isn’t meant to benefit fintech companies like Circle, but rather to empower large traditional banks. He claims stablecoins are being used as a liquidity weapon, allowing big banks to purchase massive amounts of government debt without relying on the Federal Reserve’s (Fed) quantitative easing. In his view, the market is already awash in liquidity, even if the Fed hasn’t officially restarted quantitative easing. He advises investors to focus not on Circle or fintechs, but on the U.S. government and major banks as the real drivers of the stablecoin narrative.

South Korean crypto exchange Coinone has won a civil appeal involving a 2018 system glitch that allowed users to make duplicate Bitcoin (BTC) withdrawals, local outlet Economist exclusively reported. In a ruling issued in May, a Seoul court ordered the users to return all BTC obtained as a result of the error. The incident occurred in October 2018, when BTC was trading at around 7.08 million to 7.87 million won (roughly $5,200 to $5,800) on Coinone, where the cryptocurrency was traded against the Korean won. That price was about one-twentieth of BTC’s current value.

KB Kookmin Card has filed 35 trademark applications tied to stablecoins, including “KBCSTB,” “KBCST” and “KBCKRW,” on July 1, according to local news outlet MoneyS. The move is part of a broader push by South Korean credit card companies to gain an early foothold in the anticipated market for won-pegged stablecoins. KB Kookmin Card is the second major issuer to enter the space, following a similar move by Shinhan Card.

Stablecoin issuers brought in close to $10 billion in revenue over the 12-month period ending in June 2025, according to figures shared by CoinDesk on X. Tether accounted for the largest share, posting $6.56 billion in earnings. Circle followed with $1.89 billion, while Sky Protocol and Ethena reported $384 million and $332 million, respectively.