Crypto Assets market news today

Regulation and Macro

Progress in the case of Tornado Cash founder

The criminal trial of Tornado Cash founder Roman Storm has entered the defense evidence presentation stage. The first witness, Ethereum developer Preston Van Loon, stated that Tornado Cash aims to protect user privacy and transaction security. The defense will continue to summon witnesses to refute the prosecution's accusations; if convicted, Storm could face up to 45 years in prison.

Vietnam launches national blockchain platform

Vietnam officially launched the national-level blockchain platform NDAChain as the core infrastructure of its digital ecosystem. Developed by the National Data Association, this platform employs a hybrid data architecture to provide a decentralized trust layer across multiple sectors. 49 validation nodes are jointly operated by government departments and enterprises to ensure network security and compliance.

The U.S. Department of Justice or charges against Dragonfly

The U.S. Department of Justice is considering filing a lawsuit against Dragonfly regarding the Tornado Cash incident. Dragonfly responded by stating that its 2020 investment in the Tornado Cash developer was based on a belief in open-source privacy technology and that it has obtained legal opinions. Dragonfly stated that it will fully cooperate with the investigation and will defend its rights if sued.

Arizona woman sentenced for assisting North Korean IT fraud

A woman from Arizona was sentenced to 102 months in prison for assisting North Korean IT workers in impersonating U.S. citizens to obtain remote work. The fraudulent scheme involved 309 U.S. companies and illegally profited over $17 million. This is one of the largest fraud cases involving North Korean IT workers charged by the U.S. Department of Justice.

Industry Insights

Bitwise CIO: The four-year cycle is dead.

Bitwise CIO Matt Hougan believes that the traditional four-year bull-bear cycle no longer applies to the crypto market. He points out that factors such as the weakening halving effect, a shift to a positive interest rate cycle, and improved regulation are dominating the market. The crypto market is expected to see a harvest in 2026, but it may present a "sustained and stable prosperity" rather than a super cycle.

Tyler Winklevoss: JPMorgan halts Gemini account openings

Tyler Winklevoss, co-founder of Gemini, stated that JPMorgan has suspended Gemini's account opening services due to its public criticism of the bank's fee policies. He said he will continue to condemn such anti-competitive behavior.

Cathie Wood: The Reason for the Surge in Ethereum Staking Redemption Demand

ARK Invest CEO Cathie Wood believes that the surge in demand for Ethereum staking redemption may be related to Robinhood offering a 2% Crypto Assets transfer reward. Investors are transferring staked ETH to treasury companies to double their funds.

Project Updates

• Binance Wallet will hold the exclusive TGE event for Delabs Games(DELABS).
• Binance launches ZORAUSDT and TAGUSDT perpetual contracts
• Strategy increased the issuance scale of STRC preferred shares to $2.521 billion.
• Coinbase has added ResearchCoin(RSC) to the coin listing roadmap.
• Binance Alpha point holders can claim PHY token airdrop
• UniSat Wallet updates on BRC-20 upgrade progress, simplifies transfer process

Market Data

• Ethereum spot ETF had a net inflow of $453 million yesterday, marking 16 consecutive days of net inflows.
• The Bitcoin spot ETF saw a net inflow of $131 million yesterday, with BlackRock's IBIT leading the inflows.
• The mining company Cango mined 147 BTC this week, bringing the total holdings to 4387.1 coins.
• An early investor sold 80,000 bitcoins through Galaxy Digital, worth approximately $9 billion.
• The largest PUMP organization private placement address has completed its liquidation, earning approximately 8.2 million USD.
• In half a month, 9 wallets accumulated 614,000 ETH, worth over 2.1 billion USD.

Financing and Acquisition

The listed company Mega Matrix has completed a private placement financing of 16 million USD and is entering the stablecoin sector. The funds will be used to build a stablecoin asset allocation system and an on-chain yield mechanism.

Institutional Holdings

• Australia's Monochrome Bitcoin ETF holdings rise to 956 BTC
• SharpLink received 145 million USDC, or continues to increase its holdings of ETH.
• Bit Digital plans to increase its authorized share capital to 1 billion ordinary shares to raise funds to increase its holdings of ETH.
• Strategy plans to raise the fundraising scale for purchasing Bitcoin to 2 billion dollars.