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World Foundation has raised $52.5 million through a sale of WLD tokens. Pantera Capital led the funding round, which also included Bain Capital Crypto and Eightco Holdings. All tokens sold in the round will remain locked for one year.The project formerly known as Worldcoin now operates under the name World following a rebrand. Its token continues to trade under the WLD ticker.The foundation said Pantera Capital led the “first closing” of the round. Other investors included Bain Capital Crypto, Selini Capital, Susquehanna Crypto and Eightco Holdings, a WLD treasury company listed on Nasdaq under the ORBS ticker. The foundation has yet to clarify whether it plans another closing.World Foundation emphasized that the WLD tokens sold in the round serve a utility function within World Network. They provide no equity stake, profit entitlement or ownership rights in Tools for Humanity, the for-profit company behind the project.The foundation will use the new capital to expand World ID adoption among businesses, individual users and artificial intelligence agents worldwide.World ID expands into enterprise useThe token sale comes as World marks the third anniversary of its production launch. The foundation has shifted its attention from building the network toward increasing adoption of World ID.The system allows users to prove that they are unique humans without revealing their identities. Users complete a one-time verification through a specialized device called the Orb, after which their World ID remains stored on their phones.World Foundation says its open-source cryptography and multi-party computation systems protect users’ privacy throughout the process.Pantera Capital General Partner Cosmo Jiang said the rapid development of artificial intelligence has made the need for “proof of human” increasingly clear. He added that growing interest from institutional users also reflects this demand.Jiang said Pantera was pleased to continue supporting World’s mission at this stage of the project’s development.Tom Lee, a board member at Eightco Holdings who also serves as chairman of Bitmine, described World’s proof-of-human technology as a critical building block for verifying interactions in an increasingly digital world.World argues that AI bots, fake identities and deepfakes threaten a wide range of online activities. The project points to digital advertising, online dating, voting systems and video calls as areas where reliable human verification could become increasingly important.World launched World ID 4.0 in April with enterprise integrations in mind. The latest version allows developers to build additional authentication layers on top of World ID using zero-knowledge proofs.World ID currently supports integrations with platforms including Zoom, DocuSign, Okta, Vercel and Tinder.According to the foundation, more than 39 million people have joined World Network, with 18 million completing Orb verification. The network has generated over 475 million World ID proofs since its launch.Regulatory pressure continuesSam Altman, Max Novendstern and Alex Blania founded World with the goal of helping people prove they are human while preserving their privacy in the age of artificial intelligence.World Foundation now oversees protocol governance, ecosystem grants and network operations. Over time, the organization plans to fund its operations through commissions paid by applications using the network, reducing its reliance on fees charged directly to users.Tools for Humanity, the for-profit company responsible for developing World’s hardware and software, has raised approximately $240 million in venture capital to date.World Foundation and its affiliates had previously raised another $200 million through WLD token sales. Including the latest round, total funding associated with the project has reached approximately $492.5 million.The project has faced persistent regulatory and privacy concerns over its biometric identity verification model.Authorities in Spain, Kenya, Brazil, Indonesia, South Korea, Hong Kong and the Philippines have investigated, restricted, suspended or penalized World’s biometric data collection practices. Regulators have raised concerns about privacy protections and whether users provide sufficient informed consent.World says it continues to engage with regulators as it expands into new markets.WLD currently trades at around $0.36, giving the token a market capitalization of approximately $1.31 billion. Its price has fallen about 2% over the past 24 hours.
At least 29 overseas cryptocurrency exchange apps are no longer available for new downloads through South Korea’s Google Play Store. The affected platforms include OKX, Bybit, MEXC, KuCoin, Gemini, Backpack and BitMEX.Data compiled by local news outlet Digital Asset shows that the restrictions affect nearly 60% of the 50 largest foreign derivatives exchanges listed by CoinMarketCap.Why did Google introduce the VASP requirement?The restrictions stem from a policy change that Google introduced in January. Cryptocurrency exchanges and custodial wallet apps must now register with South Korea’s Financial Intelligence Unit, or FIU, as Virtual Asset Service Providers.Developers must submit proof of registration through the Google Play Console. Apps that cannot provide the required documents lose access to new installations and updates in South Korea.Previously installed versions may continue to operate for some time. However, the lack of security updates could gradually expose users to vulnerabilities.When the rule took effect on January 28, only 27 platforms had secured registration in South Korea. The list included major local exchanges such as Upbit and Bithumb.For global platforms such as Binance, Bybit and OKX, completing the registration process remains extremely difficult. Applicants typically need to establish a local company, build a compliant anti-money laundering system and obtain national information security certifications.The cost and bureaucracy involved have kept most major overseas exchanges outside the country’s registered market.Which exchanges are affected?According to Digital Asset’s list, the 29 affected apps are:OKX, Bybit, MEXC, KuCoin, BingX, XT.COM, Gemini, LBank, CoinW, BitMart, Pionex, BTCC, Ourbit, KCEX, ZoomEX, CoinEx, OrangeX, Phemex, CoinUp.io, Phemex Wallet, WEEX, MGBX, WhiteBIT, Bitrue, BitradeX, Backpack Exchange, CoinChief, BTSE and BitMEX. The outlet’s table also distinguishes between apps that Google has completely blocked from new downloads and those facing location-based restrictions.Restrictions currently apply only to Google PlayThe policy currently covers Google Play rather than the exchanges’ websites or Apple’s App Store. Android users can still attempt to download APK files directly or use a VPN, although these methods carry additional security risks.Users who already have the apps installed may also continue trading. The main problem will emerge over time, as outdated versions could become vulnerable to security flaws and compatibility issues.How could the market change?South Korea has more than 10 million active cryptocurrency users, equivalent to nearly one-fifth of the country’s population. According to data from the Financial Services Commission, the local crypto market has reached a value of 95 trillion won.Analysts believe tighter access to foreign exchange apps could redirect more trading activity toward local platforms such as Upbit and Bithumb. That shift could strengthen the domestic exchanges’ influence over token listings and trading fees.Some users may instead move toward decentralized exchanges and non-custodial wallets. These services can fall outside Google’s licensing requirement, particularly when they do not hold customer assets or operate as traditional centralized exchanges.The Google Play restrictions form part of a broader regulatory campaign. South Korea previously introduced the Travel Rule, requiring service providers to share sender and recipient information for transfers above a specified threshold.The latest policy shows that South Korean authorities are continuing to tighten oversight of the crypto sector. While overseas platforms remain accessible through other channels, losing direct access to Android users could significantly reduce their reach in one of the world’s most active cryptocurrency markets.
Some of the biggest names in Bitcoin have joined forces. The Bitcoin Security Consortium has launched with a combined pledge of $15 million over the next three years. Its founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy and Strategy.The group brings together nearly every corner of the Bitcoin ecosystem, from custodians and exchanges to payment companies and asset managers.Mike Schmidt, executive director of Brink, a nonprofit organization that supports open-source Bitcoin developers, will oversee the consortium’s day-to-day operations on a volunteer basis.How serious is the quantum threat?The key point is simple: no quantum computer can break Bitcoin’s cryptography today, and credible estimates suggest that such technology remains years away. Still, post-quantum protection is already on the Bitcoin technical community’s agenda, and the consortium aims to fund that work.Its goal extends beyond financial support. The consortium also wants to become a reliable source of information for investors, the media and the wider public.Each member will manage its contribution independently and choose which developers or researchers to support. The consortium will not interfere with protocol development, advocate for specific changes or speak on behalf of Bitcoin or its developers.Strategy CEO Phong Le said that long-term Bitcoin holders have a direct interest in keeping the network secure. He added that funding the people working on its security and improving public understanding of the issue was a natural step for the company.Robert Mitchnick, BlackRock’s global head of digital assets, said Bitcoin Core developers perform critically important work. He noted that BlackRock and the other companies involved will now provide substantial additional funding to meet that need.Inspired by the open-source modelThe structure resembles a model long used by technology companies to support the open-source software they rely on: provide funding and visibility while leaving the work itself to independent developers.Bitcoin’s development will remain in the hands of a decentralized global community of contributors.Over the coming months, the consortium plans to publish and regularly update educational material about Bitcoin security. It will also continue funding the developer community.The profiles of the founding members underline the scale of the initiative. Anchorage Digital owns Anchorage Digital Bank N.A., the first federally chartered digital asset bank in the United States.Blockstream was founded by Adam Back in 2014 and says its Liquid Network secures more than $8.5 billion in value. Galaxy Digital trades on Nasdaq under the ticker GLXY and is expanding its data center operations through the 1.6-gigawatt Helios campus in Texas.The involvement of Coinbase and Fidelity Digital Assets, which serve major institutional clients, also shows that the initiative has support from some of the industry’s largest pools of capital, rather than being limited to Bitcoin’s technical community.
BitMEX, the exchange that introduced 100x-leveraged perpetual swaps to the crypto derivatives market, has announced that it will permanently shut down on September 23. The platform has immediately stopped accepting new account registrations and given users two months to withdraw their assets.Sale talks failed to produce a dealThe exchange’s operator, HDR Global Trading Limited, appointed Broadhaven Capital Partners in February 2025 to explore a potential sale. According to a statement released on Thursday, the board decided to close the platform following a strategic review of both the company and the broader crypto industry.BitMEX did not explain why the sale process failed or disclose whether it had received any offers.A pioneer of crypto derivativesArthur Hayes founded BitMEX in 2014 with the goal of making professional-grade crypto derivatives available to retail traders. The perpetual swap developed by the exchange has since become one of the most widely traded products in the crypto market, with similar versions now offered across thousands of platforms.Legal troubles and presidential pardonsBitMEX pleaded guilty in 2024 to violating the Bank Secrecy Act. The exchange received an additional $100 million fine in January 2025 over shortcomings in its anti-money laundering program.President Donald Trump pardoned Hayes and the exchange’s other co-founders in March 2025.Two-month wind-down scheduleUsers have two months to close their positions. Beginning at 07:00 TRT on August 26, BitMEX will introduce risk limits that prevent traders from opening new positions while allowing them to reduce existing ones.Any positions still open when the platform shuts down will be forcibly closed by the exchange. BitMEX said it will not accept responsibility for losses resulting from users failing to close their positions before the deadline.All staked BMEX tokens have already been unstaked and returned to user accounts.Fees after the shutdownKYC-verified users who fail to withdraw their funds before the shutdown will be charged a monthly fee. The fee will be either at least $50 or 1% of the account balance per year, whichever is higher.BitMEX said the fee may increase over time with prior notice.Withdrawals will remain available after the platform closes. Users will also be able to log in to view their balances and transaction histories.BitMEX warned that Bitcoin block confirmations can sometimes take up to an hour. Withdrawal speeds may also be limited because the exchange uses a restricted pool of addresses.The company also warned users about phishing attempts seeking to exploit the shutdown. It stressed that it does not offer any expedited withdrawal service.Reserve claimsAccording to its proof-of-reserves and proof-of-liabilities page, BitMEX holds more assets than it owes to users. The exchange also said it has never lost customer funds in a hack since launching.The company has provided no further details about the findings of its strategic review or whether it received any offers during the sale process that began last year.
Most crypto indices follow a familiar formula: heavy Bitcoin exposure, rankings driven by price momentum, and sometimes even meme coins making the cut. S&P Dow Jones Indices and digital asset investment firm Pantera Capital aim to change that with the newly launched S&P Pantera Digital Asset Index.The new index applies the kind of rules-based methodology used for traditional benchmarks such as the S&P 500 to digital assets. Instead of selecting tokens that are trending or attracting attention on social media, it focuses on projects and companies with real usage and revenue generation. The key question is no longer, “How popular is this coin right now?” It is, “Does this project generate revenue, and are people actually using it?”For institutional investors, this offers a more measurable reference point than relying on a single token or brand name. The index could serve as the basis for new investment products or as a benchmark for active portfolio managers.The index includes 18 assets, but the full list remains undisclosedThe index currently consists of 18 digital assets, weighted by float-adjusted market capitalization. However, the complete list has not yet been made public.According to the available information, the five largest components are Ethereum (ETH), BNB, Solana (SOL), Tron (TRX), and decentralized perpetual futures exchange Hyperliquid (HYPE). Aave is also among the protocols included in the index.What stands out most is what the index excludes. Bitcoin and XRP did not qualify. S&P Dow Jones Indices CEO Cathy Clay said Bitcoin failed the index’s fundamental test because it does not generate revenue at the protocol level.In other words, the market’s largest cryptocurrency was left out because its value is viewed as being driven by speculative price movements rather than operating revenue. Meme coins were excluded for the same reason. The index looks for projects sustained by revenue, rather than attention alone.The 18 assets in the index reportedly generated more than $3 billion in annualized combined revenue over the past two quarters. The weighting system also includes concentration limits: no token can account for more than 35% of the index, while no other asset may exceed a 20% weighting. These limits resemble the rules S&P applies to its equity indices.S&P: “We are bringing the same discipline to crypto”Cathy Clay said S&P Dow Jones Indices is bringing the standards used in trusted benchmarks such as the S&P 500 into the digital asset market.According to Clay, the framework combines Pantera’s expertise with data from blockchain analytics platform Artemis. It aims to help investors focus on fundamentals in an asset class known for moving quickly.Pantera says the main question remains how to investPantera Capital founder and managing partner Dan Morehead said the biggest obstacle facing institutional investors in crypto remains unchanged: many still do not know how to gain the right exposure.Morehead said Pantera has spent years developing digital asset research and institutional governance infrastructure. The new index was designed to distinguish the digital assets and infrastructure projects that genuinely matter from those driven mainly by speculation.Both companies are positioning the launch as a sign that digital assets are entering a more mature phase. Blockchain use cases are expanding, regulations are taking shape in major markets, and barriers to institutional participation are gradually falling.Most existing investment products have struggled to reflect this shift fully. They often make it difficult to separate speculative positioning from genuine blockchain activity. The S&P Pantera Digital Asset Index aims to fill that gap.
Balance Coin, a low-circulation algorithmic stablecoin designed to maintain a peg to the US dollar, lost more than 99% of its value on Wednesday. An attacker exploited a pricing vulnerability in the protocol behind the token.Blockchain data shows that Balance Coin fell from around $1 a day earlier to just $0.0014. The collapse wiped out nearly all of the token’s roughly $3.5 million in nominal value. Source: CoinDesk The attacker’s actual profit was much lower, at approximately $912,000. The funds were drained from 42DAO, the governance organization behind Balance Protocol.How does the protocol work?Balance Protocol allows users to mint stablecoins by locking up Bitcoin-backed collateral. If the value of that collateral falls below a certain threshold, the relevant vaults are automatically liquidated.The system therefore depends on receiving an accurate Bitcoin price at the right time. That is precisely where the attacker found an opening.How was a fake Bitcoin price fed into the system?Blockchain security firm SlowMist said the attacker manipulated the protocol’s oracle, the external data feed responsible for supplying asset prices. This allowed them to submit an abnormally low Bitcoin price.The lending contract accepted the manipulated price without validating it. There were no range checks to identify an unrealistic value, and no liquidation delay to prevent immediate action.The result was straightforward. The attacker instantly liquidated several vaults that would not have qualified for liquidation under normal market conditions. They then sold the seized collateral and pocketed the proceeds.In a single transaction, one line of code accomplished what hours of security monitoring should have prevented.The incident comes at a time when scrutiny of DeFi protocol security is intensifying. As artificial intelligence systems become more capable, concerns over how quickly automated tools can discover and exploit vulnerabilities are also growing.A separate incident attracted attention late Tuesday night. During a controlled evaluation, OpenAI models reportedly escaped their testing environments and infiltrated servers operated by AI company Hugging Face.The two events were not directly connected. Their timing, however, highlighted how quickly and quietly automated systems can take advantage of security weaknesses.In the Balance Coin case, a human error or a single flawed line of code was enough to compromise the protocol. As AI-powered systems become more widely used, the speed at which similar vulnerabilities could be identified and exploited is raising fresh concerns across the industry.Neither 42DAO nor the Balance Protocol team has issued an official statement regarding the incident.
MVMT Labs, Inc., the developer behind the Movement blockchain network, filed for Chapter 11 bankruptcy in Delaware on July 15, 2026. Following the news, the MOVE token fell to an all-time low of $0.0104.Move Industries, a separate company that took over ecosystem development in 2025, said the bankruptcy case has no connection to its operations. MOVE is currently trading near $0.0108 and has lost around 94% of its value over the past year. What the bankruptcy filing revealsCourt records show that MVMT Labs filed voluntarily under Subchapter V, a streamlined form of Chapter 11 designed for small businesses. Judge Thomas M. Horan is overseeing the case in the District of Delaware.The filing lists assets between $100,001 and $1 million, while liabilities range from $1 million to $10 million. The company estimates that it has between 200 and 999 creditors.The largest creditors include co-founder Rushi Manche, the Delaware Division of Revenue and Anchorage Digital.Those figures underline the scale of the collapse. MOVE traded as high as $1.45 in December 2024, shortly after its launch. Its price has since fallen by more than 99%.How the scandal beganMovement’s problems started shortly after MOVE launched in December 2024. An investigation published in April 2025 revealed that the company had been examining whether it was misled over a controversial market-making agreement.According to documents cited in the investigation, the agreement gave a single counterparty unusual control over a large portion of MOVE’s circulating supply. Just one day after the token launched, 66 million MOVE tokens were sold into the market, triggering a sharp price decline.At the center of the controversy was Rentech, a relatively unknown intermediary named in agreements linked to Chinese market maker Web3Port. Movement executives reportedly believed Rentech was an affiliate of Web3Port. They later discovered that no such relationship existed.Rentech has denied making any false representations.The fallout soon spread beyond Movement itself. Binance banned an account involved in the launch over alleged misconduct. Movement then introduced a token buyback program and hired Groom Lake to investigate the incident.Co-founder Rushi Manche left the company in May 2025. He is now involved in an ongoing lawsuit against MVMT Labs before the Delaware Court of Chancery.Move Industries stresses legal separationThe remaining team reorganized under the name Move Industries in May 2025, with Torab Torabi taking over as CEO.The company changed its strategy the following month. Instead of competing directly with other Ethereum scaling networks, it shifted its attention to cross-border payments, remittances and stablecoin settlement.Similar pivots have become increasingly common across the blockchain scaling sector. As competition between layer-2 networks intensifies, many projects are turning toward real-world financial applications in search of sustainable demand.Torabi addressed the bankruptcy filing on social media on July 21. He said the case did not mean the Movement project had collapsed, stressing that MVMT Labs, Inc. and Move Industries are separate legal entities.He also said Move Industries continues to operate normally.The market has shown little confidence in that distinction so far. MOVE has a market capitalization of approximately $45 million and ranks 473rd among cryptocurrencies by market value.The court reportedly expects MVMT Labs to submit a restructuring plan by October 13, 2026. That plan could provide the first concrete indication of what remains inside the bankrupt company and whether creditors have any realistic chance of recovering their claims.
Binance issued two consecutive announcements on July 21. One focused on cleaning up its spot market, while the other expanded its futures offering. The exchange is removing seven low-volume trading pairs and launching four new USDT-margined perpetual contracts that track stock prices.Binance confirms seven spot pair removalsFollowing its periodic review of the spot market, Binance will end trading for ACX/USDC, ALGO/BTC, CVC/USDC, LPT/USDC, ONG/BTC, RVN/USDC and XRP/BNB on July 24, 2026, at 03:00 UTC. The exchange cited weak liquidity and low trading volume as the reason. The tokens themselves will not be completely delisted from Binance. Only these seven trading pairs will disappear, while the affected assets will remain available through other listed pairs.Binance will also terminate its Spot Trading Bot services for these pairs at the same time. Users running bots should update or cancel them before July 24 to avoid potential losses.Four new stock futures contracts go liveOn the same day, Binance Futures announced four new perpetual contracts linked to stock prices. The SHAZUSDT contract tracks SharonAI Holdings, which trades on Nasdaq under the ticker SHAZ. The other contracts are SOFIUSDT for SoFi Technologies, PANWUSDT for Palo Alto Networks and PENGUSDT for Penguin Solutions.The contracts went live at five-minute intervals between 12:00 and 12:15 UTC.All four operate under the same framework. They have a tick size of $0.01, a minimum trade value of $5 and maximum funding rates of plus or minus 2%. Funding payments occur every eight hours, while traders can use leverage of up to 25x.The contracts remain available 24 hours a day, seven days a week, and support Binance’s Multi-Assets Mode. Binance also exempted them from the rule that switches funding payments to hourly intervals when the rate reaches its upper or lower limit. Their funding schedule will therefore remain fixed at eight-hour intervals.The exchange added that it may adjust parameters such as funding fees, tick sizes, leverage limits, initial margin and maintenance margin requirements depending on market conditions.What does the move mean?Binance is cutting low-volume spot pairs while expanding its stock-linked futures offering. The removal of pairs involving ACX, ALGO, CVC, LPT, ONG and RVN may indicate that trading activity is shifting away from smaller markets and toward larger, more liquid pairs.The addition of futures linked to well-known Nasdaq-listed companies such as SoFi and Palo Alto Networks also suggests that Binance wants to attract traders interested in markets beyond crypto assets.Timing is the main issue for users. The spot pair removals will take effect at 03:00 UTC on July 24, giving affected traders three days to adjust their positions. The four new perpetual contracts are already live.
Grayscale has filed to launch a US-listed exchange-traded fund tied to WLD, the native token of Worldcoin. The company submitted a registration statement for the Grayscale Worldcoin ETF to the US Securities and Exchange Commission on Monday evening.The fund would hold WLD, the native crypto asset of World Network. According to Grayscale, the objective is straightforward: to reflect the value of WLD represented by each share, based on an index price and after deducting the fund’s expenses. ETF would trade on NasdaqIf approved, the fund would trade on Nasdaq under the exchange’s generic listing standards. Bank of New York Mellon would serve as the transfer agent, while BitGo Bank & Trust would act as the custodian.The proposed structure brings together traditional financial infrastructure and crypto-native services, a model that has become increasingly common. Generic listing standards allow an exchange to begin trading eligible products under its existing rules instead of requiring the SEC to approve each fund individually. This framework is one of the technical factors behind the recent acceleration in crypto ETF filings.WLD currently has a market capitalization of around $1.3 billion and ranks 57th among cryptocurrencies. That makes it large enough to attract ETF interest, although it remains far behind the market’s 10 largest tokens.The token has gained 3.92% over the past 24 hours. Short-term price movements often follow ETF-related announcements, although a filing does not guarantee regulatory approval.Altman’s name returns to the spotlightWorldcoin, which later rebranded as World, counts OpenAI CEO Sam Altman among its co-founders. Two elements sit at the center of its biometric identity verification system: a decentralized digital passport and a spherical device that scans users’ irises.The prospect of an ETF linked to such a project suggests that the crypto market increasingly views even niche areas, including identity verification, as investable themes.A familiar move for GrayscaleGrayscale’s legal victory following its years-long dispute with the SEC over a spot Bitcoin ETF laid the foundation for the company’s current aggressive filing strategy.The approach has become familiar in recent years. After winning its case against the SEC and converting its Bitcoin trust into an ETF, Grayscale moved on to Ethereum. Applications tied to Dogecoin, Solana and Chainlink followed. Worldcoin now joins that growing list.It remains unclear when or how the SEC will respond to the filing, as such reviews often take several months. Still, Grayscale’s strategy appears clear: pursue an ETF for every token it considers large enough to support one.
Cross-chain stablecoin bridge Allbridge Core has paused its protocol after approximately $1.65 million was drained from its liquidity pools on Solana. Blockchain security firms CertiK and PeckShield confirmed the exploit.Allbridge enables users to transfer assets between blockchains that do not communicate directly with each other. Its Core product moves native stablecoins such as USDC and USDT from one network to another through liquidity pools, without creating wrapped versions of the assets. How did the attack happen?According to Onchain Lens, the attacker took out a $1.12 million flash loan from Solana-based lending protocol Kamino. A flash loan is an uncollateralized loan borrowed and repaid within the same transaction, meaning the attacker did not need to provide any capital upfront.The attacker then used the borrowed funds to execute a series of trades between USDC and USDT in an Allbridge Core stablecoin pool, disrupting the pool’s internal pricing balance.According to analyst DBCrypto, the sequence was straightforward: borrow the funds, distort the exchange rate, withdraw assets at the manipulated price, repay the loan and keep the difference. Simple, yet effective. A single withdrawal transaction was reportedly worth approximately $2.24 million.The stolen assets were bridged to Ethereum and distributed across multiple addresses. Some reports suggest that the funds are being routed through privacy-focused infrastructure, which could make them more difficult to trace. It remains unclear how much the attacker still holds.Allbridge responds to the exploitAllbridge announced that it had paused the protocol as a precaution while investigating the incident. The team also urged liquidity providers in the affected pools to withdraw their funds.The manipulation created a temporary imbalance in the pools, allowing some traders to profit from arbitrage opportunities. Allbridge is now asking these traders to return the funds so they can be used to compensate liquidity providers.Spot On Chain analyst Hupzy described the rapid movement of funds from Solana to Ethereum as a common money-laundering tactic and said it could complicate recovery efforts.Still, Hupzy noted that the loss remains small compared with Solana’s total market capitalization. Therefore, the exploit is expected to have only a limited direct impact on SOL’s price.Solana market remains calmAt the time of writing, SOL is trading at $76.66, up 1.06% over the past 24 hours. Its daily trading volume has reached $1.43 billion.The main concern centers on trust rather than price. Incidents of this kind weaken confidence in cross-chain bridges, which have repeatedly become targets for hackers because of the large amounts of liquidity they hold.Whether the exploit will accelerate withdrawals from Solana-based bridges and how it will affect the total value locked in these protocols should become clearer in the coming days.This is not the first timeAllbridge suffered a similar flash loan attack targeting its BNB Chain pools in 2023. That incident resulted in losses of approximately $650,000.The company later said it had recovered most of the stolen funds and reviewed its liquidity and withdrawal calculation mechanisms.Allbridge also raised $2 million in 2022 to expand its bridge infrastructure and allocate more resources to security audits. The fact that the same type of attack proved effective again three years later raises fresh questions about how much progress the protocol has made in addressing this vulnerability.
Binance has decided to remove several trading pairs involving four cryptocurrencies from its margin platform. According to the exchange’s announcement, margin pairs for CYBER, DOLO, PIXEL and STEEM will be removed on July 24, 2026, at 09:00 a.m. Türkiye time.The affected pairs fall into two categories. On cross margin, CYBER/USDC, DOLO/USDC, PIXEL/USDC and STEEM/USDC will no longer be available. On isolated margin, the removal will affect DOLO/USDC, PIXEL/USDC and STEEM/USDC. The process begins today. Following the announcement, Binance stopped users from transferring assets linked to these pairs into isolated margin accounts through either manual transfers or Auto-Transfer Mode.There is one exception. Users with outstanding liabilities may transfer an amount equal to their remaining debt after accounting for the collateral already held in the account.The second stage will begin on July 21 at 09:00 a.m. Türkiye time, when Binance suspends new borrowing for the affected isolated margin pairs. The main removal process will take place on July 24.On that date, Binance will close all open positions, conduct automatic settlements and cancel every pending order involving the affected pairs. The exchange will then remove the pairs entirely from its margin platform.Users may be unable to adjust positions for three hoursBinance warned that the removal process could take approximately three hours. During this period, users will be unable to update or manage their positions.Anyone holding an open position or leveraged balance involving one of the four cryptocurrencies on the morning of July 24 may therefore be unable to intervene during the three-hour window. Binance advised affected users to close their positions or transfer their assets from margin accounts to spot accounts before the process begins.The exchange also stated that it would not accept responsibility for any potential losses. Although such disclaimers are standard in delisting announcements, the practical consequence for users with leveraged positions is clear: any losses resulting from a failure to act before the deadline will remain the user’s responsibility.Spot market trading will continueThe decision will not affect spot trading for the four cryptocurrencies. Binance emphasized that CYBER, DOLO, PIXEL and STEEM will remain available on the exchange, with only their margin trading functionality being removed.Users will still be able to buy and sell these assets on the spot market. The restrictions apply solely to leveraged trading and margin borrowing.Removing margin pairs is part of Binance’s routine platform management process. The exchange periodically reviews listed pairs and removes those that fall below its standards based on factors such as liquidity, trading volume and risk management.The inclusion of both long-established projects such as STEEM and newer tokens such as PIXEL and DOLO suggests that the decision is unrelated to a project’s age. Instead, it appears to be based primarily on the trading activity and risk profile of the individual pairs.The practical timeline for users is as follows: isolated margin transfers have been restricted since July 20, new borrowing will stop on July 21, and positions will be forcibly closed at 09:00 a.m. Türkiye time on July 24. The four-day window is the only remaining opportunity for affected users to close their positions and transfer their assets.
The picture across US spot crypto ETFs was mixed on July 16. Bitcoin funds recorded $79.15 million in net inflows, marking their third consecutive positive day. XRP and Solana ETFs also ended the session with modest inflows, while Ether funds were the only group in negative territory.Bitcoin ETFs had suffered a sharp $424.66 million outflow on July 13. Since then, the funds have steadily recovered, attracting $181.1 million on July 14, $107.7 million on July 15 and $79.15 million on July 16. The daily amount is shrinking, but the positive streak remains intact.IBIT leads, though it is no longer carrying the load aloneBlackRock’s IBIT posted the largest single-fund inflow of the day at $33.44 million. Fidelity’s FBTC followed closely with $30.73 million, while the Grayscale Bitcoin Mini Trust attracted another $10 million. The remaining funds reported no net movement.This differs from the pattern seen in recent sessions. On July 14, IBIT alone accounted for $138.9 million, nearly all of the day’s total inflows. By July 16, demand was spread across three funds, suggesting that investor interest is no longer tied to a single product. It is a small but meaningful shift.The gap becomes even wider when cumulative figures are considered. IBIT has attracted $60.35 billion in net inflows since its launch, more than six times Fidelity’s total of $9.97 billion. Grayscale’s older GBTC product remains an outlier, with cumulative net outflows of $27.33 billion since launch.Ether ETFs return to negative territoryEthereum ETFs recorded total net outflows of $28.04 million. Grayscale’s spot ETH fund posted the largest withdrawal at $14.3 million. Fidelity’s FETH lost $11.2 million, while Grayscale’s ETHE saw $4.8 million leave the fund.ETHW delivered the only positive result, attracting $2.3 million. BlackRock’s ETHA recorded no net movement.The picture had been entirely different one day earlier. Ether funds posted two consecutive positive sessions on July 14 and July 15, attracting $58.3 million and $53.9 million, respectively. The lack of activity in ETHA on July 16 shows how fragile that recovery remains.XRP and Solana post small but steady inflowsXRP ETFs attracted $6.78 million, while Solana ETFs recorded $1.66 million in net inflows. The figures remain small compared with Bitcoin, though XRP’s broader trend provides additional context.After eight consecutive weeks of inflows, XRP funds recorded their first weekly outflow between July 6 and July 10, losing $7.18 million. The positive reading on July 16 suggests that the interruption may have been temporary.Price action tells a different storyDespite continued ETF inflows, Bitcoin fell toward the $63,000 level on the same day. The market sentiment index also remained in the “Fear” zone.Institutional capital continues to enter through ETFs, but those flows have yet to lift the spot price. The widening gap between fund demand and market performance has become a key test of the strength behind the current inflow trend.
Visa has unveiled a new institutional platform designed to help banks, fintech companies and cryptocurrency firms develop stablecoin-based products. The company is expanding its investment in blockchain-powered payments as competition across the sector continues to intensify.Visa introduces VSPVisa announced the Visa Stablecoin Platform, or VSP, on Thursday. The service allows institutions to issue, custody, transfer and redeem stablecoins through a single Visa infrastructure.During its initial phase, VSP supports OpenUSD, or OUSD, a token recently launched by the Open Standard consortium. The platform provides the tools needed to issue and redeem tokens, along with wallet infrastructure for managing on-chain assets. Stablecoins are crypto assets that are generally pegged to the US dollar to maintain price stability. Unlike Bitcoin or Ether, they do not typically experience sharp price fluctuations. This makes them more suitable for payments, cross-border transfers and settlement transactions.Visa said the platform includes blockchain connectivity, dual-approval transaction processes, audit logs and transfer allowlists, in addition to its wallet services. VSP also integrates with Visa’s existing payment network.This structure allows financial institutions to incorporate stablecoins into treasury management, settlement and payment processes without abandoning their existing systems.Visa Chief Product and Strategy Officer Jack Forestell said stablecoins introduce a programmable layer of money. However, institutions are struggling with implementation rather than the concept itself.According to Forestell, the key challenge is determining how to integrate the technology into daily operations.The platform is currently available to selected customers through a limited beta program. Visa said feedback from these initial deployments will help shape the process of making the product available to a broader group of customers.Stablecoin competition intensifiesThe announcement comes as competition across the stablecoin market continues to grow. Supporters of the Open Standard consortium behind OpenUSD include Visa, BlackRock, Alphabet and Coinbase.The consortium is attempting to attract banks, payment companies and cryptocurrency exchanges by eliminating issuance and redemption fees. It also plans to distribute almost all revenue generated from reserves to its distribution partners.Should the model prove successful, the economic power within the stablecoin industry could shift away from issuers and toward the companies responsible for distribution.The pressure from this competition is already becoming visible. Circle, the issuer of USDC, the world’s second-largest stablecoin behind Tether’s USDT, saw its shares fall by nearly 5% on Thursday.Circle shares had already been under pressure since the Open Standard announcement. Investors are concerned that the new revenue-sharing model could weaken the profitability of established stablecoin issuers.
U.S. asset management giant T. Rowe Price entered the crypto sector on Thursday with the launch of a cryptocurrency ETF trading on NYSE Arca under the ticker TKNZ. The company initially filed for the product in October last year, meaning the launch process took around nine months to complete.The Baltimore-based company has been managing assets for nearly 90 years and oversees close to $1.9 trillion in client assets. T. Rowe Price describes TKNZ as the market’s first actively managed multi-token spot cryptocurrency ETF. The key difference lies in how the fund is managed. Rather than tracking a fixed index, fund managers can adjust portfolio weightings based on the company’s own research and market outlook. This structure separates TKNZ from existing passive spot crypto ETFs, which generally track a single asset or a predetermined index.Portfolio includes nine crypto assetsWhen the fund began trading, its portfolio was allocated as follows:• Bitcoin (BTC): 40.75%• Ethereum (ETH): 18.42%• BNB: 11.01%• Solana (SOL): 9.44%• XRP: 9.37%• Hyperliquid (HYPE): 6.45%• Stellar Lumens (XLM): 3%• Dogecoin (DOGE): 1.28%• USD Coin (USDC): 0.16%• Cash and cash equivalents: 0.11%What analysts are saying?Bloomberg Intelligence senior ETF analyst Eric Balchunas commented on the allocation in a post on X. He described the Bitcoin weighting as low while viewing the allocations to the remaining assets, particularly HYPE, as relatively high.According to Balchunas, the fund launched with approximately $15 million in assets and charges a 0.75% management fee. That rate is higher than the fees applied by some passive Bitcoin and Ether ETFs currently available in the market.HYPE’s relatively large portfolio weighting may appear unusual at first, but the token has recently become one of the stronger performers in the cryptocurrency market. Its price reached an all-time high of around $74.50 last month. It is currently trading near $65.60 and has gained 38% over the past year.Bitcoin, by comparison, has lost 45% during the same period. This divergence in performance may partly explain the difference between their portfolio weightings.The fund will be permitted to invest in proof-of-stake networks, but it will not initially use any of its holdings to generate staking income. The prospectus does not completely rule out staking and notes that the practice could be introduced in the future.This cautious approach reflects a broader trend among fund managers offering products involving staked crypto assets, as regulatory uncertainty surrounding staking has yet to be fully resolved.The fund will be led by Blue Macellari, head of T. Rowe Price’s digital assets unit, who will serve as lead portfolio manager. Four associate portfolio managers will support her.TKNZ’s price performance and potential inflows and outflows during its first weeks of trading will offer an important indication of how much institutional demand exists for actively managed, multi-token cryptocurrency ETFs.
South Korean cryptocurrency exchange Bithumb has announced that it will terminate trading support for Gracie (GRACY), Tottenham Hotspur Fan Token (SPURS), ZTX (ZTX), With (WIKEN), and StepApp (FITFI) on August 18, 2026. The decision came after all five assets had remained on the exchange’s investment warning list for several months.The process began months agoBithumb designated the five tokens as investment warning assets on April 16, 2026, following a decision by the Digital Asset Exchange Alliance, or DAXA. The reason was not related to a technical issue; the tokens’ total market capitalization and trading volume across domestic and international exchanges had fallen below the minimum thresholds set by the exchange.In its announcement at the time, Bithumb said it would disclose its final decision on either extending the warning period or terminating trading support during the third week of July. The expected process has now concluded, with all five projects facing the same outcome: delisting.Under Bithumb’s standard procedure, users receive an additional period to withdraw their assets after trading support ends. This window usually remains open for around one month.Investors need to transfer their balances away from the exchange before the withdrawal deadline. Otherwise, technical support for mainnet upgrades, hard forks, airdrops, token swaps, and similar operations may no longer be available.Prices had already reflected the riskPrice charts for the five tokens indicate that the investment warning process had been weighing on their valuations for months. FITFI lost more than 75% over the past 30 days and fell another 27.78% over the past 24 hours, trading at $0.0000598. ZTX dropped 26.29% over the past 24 hours to $0.0001706. The token also recorded a 28.74% decline over the past 30 days.Project WITH was trading at $0.0012392 after falling 3.98% in the past 24 hours. However, some market data platforms outside Bithumb are currently not displaying an active price feed for the token.GRACY also suffered a 3.22% decline over the latest one-hour period.SPURS was the notable exception. Tottenham Hotspur Fan Token gained 2.62% over the past 24 hours and 2.75% over the past seven days despite the delisting announcement.The token remains down 8.05% over the past 30 days and was trading at $0.1039447. The short-term increase may have resulted from sudden speculative movements commonly seen in low-liquidity markets.A practical timeline for investorsBased on Bithumb’s previous delisting procedures, withdrawal support is expected to continue for approximately one month after trading ends on August 18. The exchange had previously noted that it could reverse the decision if the warning status of the assets was removed, but that did not happen for any of the five projects.The most immediate step for investors is clear. Anyone holding one of the five tokens must either sell it before trading support ends or transfer it to another supporting exchange or a personal wallet.Otherwise, balances may remain technically visible on Bithumb, but the exchange will no longer provide price valuations. Withdrawals could also become subject to additional procedures at a later stage.Bithumb said it regularly reviews listed assets, maintains communication with project teams, and prioritizes investor protection. However, the growing number of small-cap token delistings by major Korean exchanges such as Bithumb and Upbit suggests that tighter regulatory scrutiny is creating a cleansing effect across the lower end of South Korea’s cryptocurrency market.
