Latest news from the Web3 ecosystem
Digital asset investment products experienced outflows for the fifth consecutive week, totaling $288 million. This extended outflow trend is the longest recorded since the introduction of spot Bitcoin ETFs earlier this year.
Bitcoin experienced a sharp overnight decline, briefly touching $64,270 before staging a recovery to $66,300. The volatility was attributed to market conditions and international events.
Publicly traded companies holding Bitcoin on their balance sheets are selling, coinciding with outflows from Bitcoin ETFs. This trend occurs as BTC hovers near the $66,000 mark.
Pre-market trading shows stability as Bitcoin surpasses the $66,000 mark. MicroStrategy's Michael Saylor indicates continued accumulation.
The Bank of Korea is revitalizing its proposal for a bank-led won stablecoin framework, emphasizing a consortium model and an interagency approval body. This comes as legislative progress on related digital currency regulations remains slow.
Ethereum co-founder Vitalik Buterin has been selling Ether as part of a previously announced strategy to allocate funds towards ecosystem development and various initiatives.
Holdings of Bitcoin in wallets connected to the Binance exchange have surged, reaching their highest levels observed since November 2024, indicating a significant shift in user asset distribution.
Austria's financial regulator has directed crypto exchange KuCoin to cease new business activities within the European Union due to insufficient staffing for anti-money laundering and sanctions compliance.
Crypto miner Bitdeer has divested its entire Bitcoin holdings to finance its strategic expansion into the AI data center sector. This move signals a significant reallocation of assets within the digital asset mining industry.
Despite current industry headwinds and internal difficulties, Gemini co-founder Tyler Winklevoss expresses optimism. However, recent filings, staff reductions, and capital movements present a complex outlook.
Bitcoin's market capitalization has fallen to $1.31 trillion, positioning it as the 15th largest globally. This downturn has led to increased bearish sentiment on Polymarket.
Circle and major crypto miners are scheduled to report their latest earnings, offering insights into the financial health of key players. The week ahead also brings significant economic data releases.