COINOTAG News reports that digital asset brokerage K33 highlights a significant correlation between Bitcoin ETF inflows and price returns, contrasting with the relatively neutral market impact of corporate Bitcoin treasury
SharpLink Gaming (Nasdaq: SBET), the largest publicly traded holder of ethereum, has announced an increase in its total holdings to 188,478 ETH, acquiring an additional 12,207 ether for approximately $30.67 million at an average price of $2,513 per coin between June 16 and June 20, 2025. During the same period, the company raised about $27.7
BitcoinWorld South Korean Stablecoin: Banks Pioneer Revolutionary Digital Won Initiative Get ready for a significant shift in the world of digital finance! A groundbreaking development is unfolding in Asia, specifically concerning the emergence of a South Korean stablecoin . This isn’t just another crypto project; it’s a monumental step being spearheaded by some of the nation’s most influential financial institutions. If you’ve been following the global race for digital currency dominance, this news from South Korea is a powerful signal of the future of money. Let’s dive into how this ambitious project could reshape financial transactions and propel the country into a new era of digital commerce. What Exactly is a Won-Based Stablecoin, and Why Does it Matter? At its core, a won-based stablecoin is a type of cryptocurrency designed to maintain a stable value, directly pegged to the South Korean Won (KRW). Unlike volatile cryptocurrencies such as Bitcoin or Ethereum, whose prices can fluctuate wildly, a stablecoin aims to offer the benefits of blockchain technology—like speed and transparency—without the price instability. This stability is crucial for everyday transactions, making it a viable alternative to traditional fiat currency in digital form. The significance of a bank-backed, won-based stablecoin cannot be overstated. It bridges the gap between the traditional financial system and the burgeoning world of decentralized finance. Imagine being able to send money instantly across borders with minimal fees, or make digital payments with the same confidence you have in your physical cash, all while leveraging the efficiency of blockchain. This initiative is about creating a reliable digital asset that mirrors the national currency, providing a stable foundation for a wide array of new financial services. Pioneering Bank Stablecoin Initiative: Who’s Behind It? This isn’t a fringe project; it’s a concerted effort by the pillars of South Korea’s banking sector. Eight major South Korean banks are uniting to launch this pioneering bank stablecoin joint venture. These institutions include household names like KB Kookmin, Shinhan, Woori, NongHyup, Industrial Bank of Korea (IBK), Suhyup, Citibank Korea, and Standard Chartered Bank Korea. Their collective involvement lends immense credibility and infrastructure to the project, signaling a serious commitment to digital currency innovation. The collaboration extends beyond just the banks. The project is being developed in partnership with key industry players: the Open Blockchain & Decentralized Identifier Association (OBDIA) and the Korea Financial Telecommunications & Clearings Institute (KFTC). This multi-stakeholder approach ensures that the stablecoin will be built on robust technical standards and integrated seamlessly with existing financial clearing systems. This level of institutional backing and collaboration is precisely what gives this particular stablecoin initiative a strong chance of widespread adoption and success. Unlocking the Future: South Korea’s Drive for Financial Innovation South Korea has long been a leader in technological adoption and digital transformation. The move towards a national financial innovation strategy, particularly through a won-based stablecoin, is a natural progression. The motivations behind this significant undertaking are multifaceted: Efficiency and Cost Reduction: Blockchain technology can significantly reduce the time and cost associated with traditional financial transactions, especially cross-border payments. New Digital Services: A stable, digital form of the won opens the door for innovative financial products and services, from micro-payments to programmable money for smart contracts. Global Competitiveness: As central banks worldwide explore Central Bank Digital Currencies (CBDCs) and private stablecoins gain traction, South Korea aims to maintain its competitive edge in the global digital economy. Financial Inclusion: Digital currencies can potentially lower barriers to financial services for underserved populations. Enhanced Stability: A bank-backed stablecoin offers a higher degree of trust and regulatory oversight compared to many other cryptocurrencies, potentially leading to greater financial stability. This initiative represents a proactive step by South Korea to embrace the digital future of finance, ensuring it remains at the forefront of technological advancement. Navigating the Path to a Digital Won: Two Proposed Models While the goal is clear – a stable, digital representation of the national currency – the exact mechanism for issuing this Digital Won stablecoin is still under discussion. The joint venture is currently considering two primary issuance models, each with its own implications for how the stablecoin will operate and be backed: 1. Trust-Based Model In this model, customer funds intended to back the stablecoin would be held in a separate, legally distinct trust account. When a customer wants to acquire the stablecoin, their fiat currency would be deposited into this trust, and an equivalent amount of stablecoins would then be issued. This model offers a high degree of transparency and security, as the underlying assets are clearly segregated and protected. It provides a clear audit trail and ensures that the stablecoin is always fully collateralized by real-world assets held in trust. 2. Deposit-Token Model The deposit-token model pegs the stablecoin directly to bank deposits. In this scenario, when a customer deposits money into their bank account, an equivalent amount of stablecoins (deposit tokens) could be issued directly by the bank. This model is more integrated with existing banking infrastructure and could potentially offer greater scalability and ease of use, as it leverages the established relationships between banks and their customers. It essentially tokenizes existing bank deposits, allowing them to be transacted on a blockchain network. Both models aim to ensure the stablecoin maintains its 1:1 peg with the Korean Won, but they differ in their operational structure and the legal framework required. The final choice will likely depend on regulatory clarity and the banks’ strategic preferences for integration and scalability. Potential Benefits: What Could This South Korean Stablecoin Offer? The introduction of a South Korean stablecoin by major banks promises a multitude of benefits for individuals, businesses, and the broader economy: Faster and Cheaper Transactions: Say goodbye to lengthy bank transfer times and high fees, especially for international remittances. Blockchain-based transactions are typically faster and more cost-effective. Enhanced Payment Efficiency: Businesses can benefit from instant settlements, reducing operational friction and improving cash flow management. This could be transformative for supply chain finance. New Financial Products: The stablecoin could serve as the foundation for innovative DeFi applications, lending protocols, and even tokenized real-world assets, all within a regulated framework. Increased Financial Inclusion: By potentially lowering the barriers to entry for digital payments, more people, including those unbanked or underbanked, could access modern financial services. Programmable Money: The stablecoin could enable ‘programmable money,’ allowing for automated payments based on specific conditions (e.g., smart contracts for royalties, escrow services, or automated payrolls). Cross-Border Trade Facilitation: A stable, digital won could streamline international trade, making it easier and more efficient for Korean businesses to transact globally. These benefits paint a picture of a more agile, inclusive, and efficient financial ecosystem in South Korea. Challenges and the Road Ahead for Bank Stablecoins While the prospects are exciting, the path to widespread adoption for a bank stablecoin is not without its hurdles. Several challenges need to be addressed for this initiative to reach its full potential: Regulatory Approval: This is arguably the biggest hurdle. The project’s launch is contingent on regulatory developments and obtaining the necessary approvals from financial authorities. Regulators will need to establish clear guidelines for issuance, oversight, and consumer protection. Interoperability: Ensuring the stablecoin can seamlessly interact with existing financial systems, other blockchain networks, and future CBDCs will be crucial for its utility. Public Adoption: Despite the banking backing, convincing the general public and businesses to switch from traditional payment methods to a new digital currency will require significant education and trust-building. Technological Scalability and Security: The underlying blockchain infrastructure must be robust enough to handle a high volume of transactions securely and efficiently. Cybersecurity risks will also need continuous monitoring and mitigation. Competition: The project will face competition from existing private stablecoins, other potential CBDC initiatives, and even traditional payment giants like Visa and Mastercard, which are also exploring blockchain. Monetary Policy Implications: Central banks will need to carefully consider the impact of widely adopted private stablecoins on monetary policy and financial stability. Overcoming these challenges will require a collaborative effort between the banks, regulators, and technology providers. Beyond the Horizon: The Broader Impact of a Digital Won The potential launch of a Digital Won , backed by South Korea’s leading banks, extends far beyond mere payment efficiency. It signifies a profound shift in how a major economy approaches its monetary infrastructure in the digital age. This initiative could serve as a blueprint for other nations considering similar public-private partnerships for digital currency development. For South Korea, it solidifies its position as a global leader in financial technology. It prepares the nation for a future where digital assets are integrated into everyday life, from smart city applications to advanced financial instruments. It could also influence international trade and investment flows, making the Korean Won a more accessible and efficient currency for global commerce. Ultimately, this project is not just about a new form of money; it’s about building a more resilient, efficient, and innovative financial system ready for the challenges and opportunities of the 21st century. The world will be watching closely as South Korea takes this bold leap into the future of finance. To learn more about the latest crypto market trends, explore our article on key developments shaping financial innovation and institutional adoption. This post South Korean Stablecoin: Banks Pioneer Revolutionary Digital Won Initiative first appeared on BitcoinWorld and is written by Editorial Team
SYRUP's rally could lose its bullish momentum.
U.S. spot Bitcoin exchange-traded funds neared a two-week inflow streak on Tuesday, as geopolitical tensions eased and institutional interest continued to drive demand. According to data from SoSoValue, the 12 U.S. spot Bitcoin ETFs drew a combined $588.55 million in inflows on June 24. This marked the strongest single-day performance in over a month and extended the current streak of consecutive inflows to 11 days, totaling more than $3.3 billion. BlackRock’s IBIT led the day with $436.32 million in inflows, accounting for nearly three-quarters of the total. Fidelity’s FBTC and ARK Invest’s ARKB followed with $85.16 million and $43.85 million, respectively. Bitwise’s BITB, Grayscale’s GBTC, and VanEck’s HODL collectively brought in $23.22 million. Notably, several smaller funds recorded no inflows on the day. The spike in inflows coincided with a shift in macro sentiment, driven largely by geopolitical developments. On June 24, U.S. President Donald Trump announced that Iran and Israel had agreed to a ceasefire, emphasizing that both parties must strictly adhere to the terms. The ceasefire, following nearly two weeks of escalating hostilities, alleviated fears of broader conflict and its potential economic fallout, particularly rising oil prices and inflationary pressure. Bitcoin ( BTC ) responded positively to the news, surging 6.1% to reclaim the $106,718 level at press time. The move above the psychologically important $105,000 level appeared to validate bullish momentum, with market participants interpreting the ceasefire as a temporary de-risking event. Meanwhile, recent regulatory developments have also helped lift market sentiment. On June 23, the Federal Reserve removed the term “reputational risk” from its bank supervision guidelines. The change is seen as a structural shift that may reduce barriers preventing banks from offering services to digital asset firms. Industry experts believe this adjustment could accelerate the integration of crypto within traditional financial systems, particularly in banking infrastructure. You might also like: Trump Media files 19b-4 to list Truth Social Bitcoin and Ethereum ETF on NYSE Arca Institutional appetite for Bitcoin also appears to be accelerating. MicroStrategy’s Michael Saylor recently added $26 m i llion worth of Bitcoin to its treasury, pushing its total holdings to 592,345 Bitcoin. This trend is being mirrored by a growing number of new and established public firms exploring similar treasury strategies. For instance, veteran investor Anthony Pompliano recently unveiled ProCap, a new Bitcoin treasury firm that aims to accumulate $1 billion worth of Bitcoin. ProCap has already acquired 3,724 Bitcoin for roughly $387 million. Further reinforcing this institutional pivot, Trump Media filed with the SEC to list the “Truth Social Bitcoin and Ethereum ETF” on the New York Stock Exchange. The proposed ETF would allocate 75% of its assets to Bitcoin and 25% to Ethereum, marking a high-profile attempt to gain a foothold in the growing digital asset fund landscape. Commenting on market dynamics, Komodo Platform CTO Kadan Stadelmann told crypto.news that despite macro jitters, “buyers are taking advantage of dips and accumulating.” “Market volume suggests significant market activity. Demand will almost certainly remain strong, especially as companies continue to announce they are starting Bitcoin Treasuries, the latest of which is Donald Trump’s Truth Social,” Stadlemann said. According to a new report by Bybit on portfolio allocation trends, Bitcoin now makes up 30.95% of the average investor’s portfolio, up from 25.4% in November 2024, a sign that investors increasingly view the benchmark cryptocurrency as a mature asset rather than a purely speculative play. Read more: Aptos sees strong recovery rally as key on-chain metrics improve
Few startup journeys begin with a vampire attack, but for Connor Howe, CEO and co-founder of Enso, that chaos became a proving ground. What had started as a social DeFi platform quickly evolved through hard-won lessons into something that’s currently far more ambitious – a unified intent engine for Web3, a DeFi super app, if you will. In this interview, Howe reflects on the pivots, the pain points, and the revelations that led to Enso’s vision of radically simplifying on-chain development. He shares how intent-based design shifts developer thinking, what it means to build with abstraction in mind, and why Enso’s recent $3B milestone is just the beginning. From vampire attacks to intent engines — Enso’s journey has evolved rapidly. Looking back, what was the pivotal moment when you realized shortcuts and intent-based development weren’t just features, but the foundation for a whole new kind of infrastructure? We’ve been through two pivots to get to where we are and have experienced the hurdles of building in Web3 firsthand. We started with the vampire attack and a social trading product, where we integrated 15 DeFi protocols. That alone took months and over $500k in audits. Then we pivoted to a DeFi super app, which required even more protocol support. But in that process, we discovered a fast and secure way to integrate any protocol and standardized common onchain actions across smart contracts. When launching the DeFi super app, we supported 50+ protocols. Other builders noticed and started asking how we did it. So we spun up an API, and in the first week, it saw $11M in volume. That was the moment it clicked. Shortcuts aren’t just a feature, but the foundation. We don’t have too many apps in Web3, we have too few. And it’s because building them is too hard. We lived through that pain, and built Enso to fix it. Not just for us, but for everyone. One of the most persistent issues in Web3 is fragmentation across chains and protocols. Enso proposes a unification layer through intents, but what are the biggest architectural or governance challenges in maintaining that kind of composability across a decentralized landscape? One of the biggest architectural challenges is that every blockchain speaks a different “language”, i.e. different speeds, block sizes, and quirks in how contracts are written, deployed and executed. Composability becomes a nightmare when you’re a developer trying to stitch together these fundamentally different systems. Enso acts as a unification layer that approaches this from the bottom up. Rather than forcing developers to think in terms of chain-specific implementations, Enso abstracts that complexity away. To make this scalable, the Enso network encompasses the full stack for reading data and executing onchain. It’s a decentralized, open network where developers and AI agents can contribute data feeds and smart contract information, enabling fast, reliable execution across an ever-growing number of blockchains. The idea of intent-driven development sounds intuitive, even obvious, once you hear it — but it challenges decades of imperative software thinking. What do you think needs to shift in developer mindsets (especially from Web2) for shortcut engines to feel natural? Developers need to shift from thinking in actions to thinking in outcomes. In Web2 and traditional Web3 development, the focus is on defining every step manually. But in an intent-driven model, you define what you want, not how to get there, and let the engine handle finding the best route. That requires trust in orchestration layers, but more importantly, a philosophical shift: abstraction is not a loss of control, it’s a gain in efficiency. Web2 devs already work with high-level APIs and compilers. Blockchain shortcuts are just the next evolution in Web3: reliable, proven paths of execution that fulfill intent requests. Graphers and Action Providers form the core of how Enso generates and optimizes on-chain solutions. What have you learned from watching these roles in action? The Enso network is powered by three core participants: Action Providers contribute modular smart contract abstractions. Graphers build algorithms that combine these actions into executable solutions. Only one solution is selected per request, so graphers are rewarded for finding the most optimal path. Validators secure the network by authenticating requests, verifying contributions, simulating transactions, and validating the final solution. Each request to Enso incurs a query fee, paid in ENSO tokens and distributed across all three roles. This creates a flywheel: more usage leads to more rewards, driving further contribution, optimization, and decentralization. At the time of writing, the Enso token sale is live on CoinList, giving everyone the chance to become part of and participate in the Enso network at favorable terms. You’ve spoken before about how most Web3 teams are forced to “choose what frameworks they support” due to limited resources. Do you think we’re nearing a point where this kind of technical exclusivity will become obsolete? Enso is working on making this obsolete by unifying all smart contracts, chains, and protocols into one network. Web3 teams will no longer be forced to choose from different frameworks, they will have a single point of access with read and write functionality to interact with any smart contract on any chain from a single integration. This will empower developers to build seamless, consumer-facing applications used by hundreds of thousands of users. Enso recently hit a major milestone, achieving more than $3 billion in transaction volume. What’s next? Supporting Berachain’s launch and their pre-deposit campaign “Boyco” as the main infrastructure provider was a big accomplishment for the whole team. Enso’s infrastructure processed $3.1B in 3 days , one of the largest liquidity migrations in DeFi’s history. It proved not only the value of Enso, but also demonstrated the reliability and scalability of the infrastructure under real conditions. As a next step, Enso is evolving from a powerful API into a fully decentralized network. First, we will open up the Enso DeFi library, allowing anyone to contribute contract abstractions, broadening the opportunities, and enabling even faster development. Enso is currently available on many EVM chains, and another large innovation will be expanding to Solana and Move based blockchains. This expansion will further enhance our customers’ ability to build composable applications and interact with all of the blockchain ecosystem through one source. Disclaimer: The content shared in this interview is for informational purposes only and does not constitute financial advice, investment recommendation, or endorsement of any project, protocol, or asset. The cryptocurrency space involves risk and volatility. Readers are encouraged to conduct their own research and consult with qualified professionals before making any financial decisions. This interview was conducted in cooperation with Enso, who generously shared their time and insights. The content has been reviewed and approved for publication in mutual understanding. Minor edits have been made for clarity and readability, while preserving the substance and tone of the original conversation. The post From Chaos to Composability: Enso’s Connor Howe on Rethinking Web3 Infrastructure appeared first on CryptoPotato .
Pudgy Penguins’ Nasdaq spotlight has ignited fresh bullish momentum in PENGU price, pushing the token toward a potential breakout from a months-long bullish pattern. Pudgy Penguins ( PENGU ) mascot recently stole the spotlight alongside VanEck at the Nasdaq opening bell ceremony, which took place on June 23 at the Nasdaq MarketSite in Times Square, New York. At the ceremony, Matthew Sigel, VanEck’s Head of Digital Assets Research, rang the bell, while Pengu’s presence was a symbolic nod to crypto’s growing mainstream acceptance. 🌐 Access unlocked. ⚡ @vaneck_us is ringing the @NasdaqExchange Opening Bell alongside Web3 leaders—bridging crypto, tech, and finance. 🔔 Here’s to shaping the future of investing! pic.twitter.com/NF8kxyEDLr — Nasdaq Exchange (@NasdaqExchange) June 23, 2025 The appearance at the ceremony comes amid a wave of momentum for Pudgy Penguins, including the recent launch of a play-to-win game Pengu Clash on the TON blockchain and a partnership with Lufthansa’s Miles & More program. The exposure helped boost PENGU memecoin ‘s price by 16% in a single day, with the rally continuing to an intraday peak of $0.0100 on June 25. With this surge, PENGU price has edged closer to the upper boundary of the falling wedge pattern that has been forming since early May. The projected breakout level near $0.0106 is now just approximately 8% above the current price of $0.0098. Source: TradingView On the downside, support is around $0.008, where the lower boundary of the wedge aligns with the longer-term ascending trendline that has held since the April reversal, adding strength to this key level. You might also like: Pudgy Penguins unveils play-to-win game Pengu Clash on TON blockchain From a technical standpoint, momentum indicators are beginning to tilt in favor of the bulls. The RSI currently stands at 48, having recovered from oversold conditions earlier this month. The MACD line has just crossed above the signal line in a bullish crossover, occurring near the zero line — a signal often interpreted as the beginning of a possible upward move. The price is also retesting the 20-day EMA at $0.00989. A daily close above this level would confirm a short-term shift in momentum and strengthen the case for a breakout from the falling wedge. If the breakout above $0.0106 is confirmed with strong volume and follow-through, the next upside targets are $0.0115 (50-day SMA), followed by $0.0130 and $0.0150 — the previous swing highs — and ultimately $0.0200 — the projected target based on the height of the falling wedge pattern. A breakdown below $0.0080 would invalidate the wedge structure and expose the price to further downside, potentially toward $0.0070. You might also like: Pudgy Penguins partners with Lufthansa Miles program to expand PENGU utility
Fuzzland has confirmed that a security breach in September 2024 , which led to $2 million in losses from Bedrock’s UniBTC system, was caused by one of its former team members .
XRP is showing signs of a significant breakout between July and mid-September 2025, contingent on surpassing the critical $2.40 resistance level. After nearly a year of consolidation within a symmetrical
Russia’s efforts to build alternative payment systems outside Western financial rails may be gaining traction through a new ruble-pegged crypto asset. Per a June 25 report by the Financial Times, a stablecoin with ties to Russia has quietly processed over $9.3 billion in transactions just four months after its launch. Called A7A5, the stablecoin launched in Kyrgyzstan in February 2025 and is marketed as the first digital token fully backed by the Russian ruble. The token is presented as an independent and transparent project, but its ties to sanctioned entities suggest it may be part of broader efforts to bypass Western sanctions and enable cross-border payments for Russian businesses restricted by the U.S., EU, and UK. Ties to Garantex, Grinex, and Russia’s sanctions workaround A7A5 has been linked to blacklisted entities, including Promsvyazbank, a Russian bank under U.S. and EU restrictions, and A7, a company tied to controversial businessman Ilan Șor, who is convicted of embezzling $1 billion in Moldova. The token’s launch came shortly after U.S. authorities shut down Garantex, a major Russian crypto exchange accused of facilitating over $60 billion in illicit transactions. Around the same time, a new exchange called Grinex was launched in Kyrgyzstan, one that now serves as the main trading venue for A7A5. Before Garantex was taken down, significant volumes of USDT were reportedly moved from Garantex wallets into A7A5, and later onto Grinex. Blockchain analytics firms Elliptic and Global Ledger suggest Grinex may be a successor platform, though Grinex denies any direct connection. You might also like: Sanctioned Russian crypto exchange Garantex resurfaces as Grinex: report Grinex is said to handle trades exclusively in A7A5, Russian rubles, and USDT. Trading activity reportedly spikes during Moscow business hours, hinting at a concentrated user base tied to Russian businesses. Researchers at the Centre for Information Resilience also noted that A7A5 may be part of Russia’s efforts to spread political influence overseas, and found online connections between the token and websites used in information campaigns in Moldova. Despite the concerns, A7A5’s team denies links to illicit payment activity and claims the token was built to serve the growing demand for stablecoins pegged to Russia’s local fiat. Per the FT, CEO Leonid Shumakov stated that Kyrgyzstan was chosen for its “friendly jurisdiction” status, and to help Russian users cope with increasing international pressure. The remarks echo the broader push by policymakers across the region to develop alternative payment methods. Back in April, Russian officials advocated for local stablecoin alternatives, particularly after U.S. authorities froze $23 million worth of USDT on Garantex as part of broader international crackdown. Read more: EU sanctions Russia’s crypto exchange Garantex over its ties to blacklisted banks