Category: crypto

The FBI and Thai police combined to freeze $580 million in cryptocurrency and seized 8,000 phones from organized fraud gangs targeting Americans in Southeast Asia. This operation highlights the industrial nature of crypto fraud and the effectiveness of on-chain tracing in dismantling criminal networks at an infrastructure level.

Bitcoin’s recovery to $69,700 is not backed by genuine buying demand, according to CoinGlass. Open interest barely changed during the rebound, suggesting a range-bound market with heavy leverage. Traders are monitoring the price- open interest alignment for the next real trend amidst macroeconomic uncertainties and institutional flows.

Bitcoin’s mining difficulty is set to drop by about 7.5%, the most significant decrease since the 2022 bear market. This adjustment comes as hash rate leaves the network, resulting in relief for miner margins. The drop in difficulty signals potential miner capitulation, with weaker players exiting and survivors benefiting.

Bitcoin is trading just below $70,000 after a hawkish FOMC meeting and ETF outflows, resulting in a shift to Fear sentiment. While miner selling and difficulty are easing, there is weak long conviction in the market. BTC’s correlation to the S&P 500 is high, and the market remains range-bound with low conviction trades.

Bhutan has sold over $110 million in Bitcoin in 2026, reducing its holdings by 65% from their peak. The country’s methodical selling approach through Druk Holding & Investments has raised questions about the future of its Bitcoin strategy, shifting from mining-led accumulation to steady liquidation, impacting the crypto market.

About $13 billion quietly flowed into the crypto market this week through institutional channels like prime brokers, OTC desks, and private funds, not captured by ETF data. This hidden institutional demand, exemplified by BlackRock’s $140 million deposit into Coinbase Prime, indicates a strong interest in crypto beyond what ETF outflows suggest.

Kentucky House Bill 380 would require hardware wallet manufacturers to include backdoor access for seed phrase recovery, potentially compromising self-custody of private keys. The Bitcoin Policy Institute argues that this requirement is unworkable for non-custodial wallets and could push users towards centralized custody options. They urge the Senate to remove this provision before voting on…

Gemini is facing a class action lawsuit in New York, with shareholders alleging that the company misled investors during and after its IPO. The lawsuit claims that Gemini shifted its business strategy shortly after going public, resulting in losses for investors who bought shares at inflated prices.

Nevada regulators can issue a temporary restraining order against prediction market platform Kalshi after a federal appeals court denied the platform’s request to halt proceedings. If the order is issued, Kalshi may have to leave Nevada for at least 14 days. Similar actions have been taken in other U.S. states against sports event contracts offered…

Decentralized social platform Bluesky raised $100 million in a Series B round in April 2025. Led by Bain Capital Crypto, the funding will be used to grow the user base, expand the AT Protocol ecosystem, and enhance infrastructure. Bluesky aims to build an open social web without compromising its mission and values.