South Korean police have seized up to 4.4 billion won worth of cryptocurrency held by a group of illegal crypto exchange operators profiting off of user platform fees. According to a news report from Yonhap, the authorities raided a syndicate that allegedly collected hundreds of billions of won by running a fraudulent foreign crypto exchange. The police arrested two crypto exchange firms and three operators on charges of violating the Foreign Exchange Transactions Act and the Electronic Financial Transactions Act. “Through tracking of accounts and virtual assets and search and seizure, we recovered and preserved approximately 12.4 billion won in assets held in another person’s name by money changer operators and corporations,” wrote the police in their statement. In the raid, authorities confiscated $3.2 million in Ethereum ( ETH ) kept within crypto wallets by the suspects. The culprits reportedly tried to launder them in hopes of hiding it from investigative authorities. The group has reportedly running crypto exchanges illegally by receiving money from potential customers and manually exchanging them through a separate exchange called Nettel Pay for the past six years. You might also like: Oasys establishes Korean office to expand beyond gaming and into K-Pop and wellness Authorities confirmed that three unregistered money changers had transacted a total of 943.4 billion won using cryptocurrency exchange fraud techniques. The amount of transaction volume accumulated from the illegal operation is equal to around $694.5 million. From platform fees, the South Korean group managed to raise as much as 25.7 billion won or approximately $18.92 million. Throughout the investigation, the prosecution confirmed that the funds received from victims of the fraud were converted into Nettel Pay and used on overseas gambling sites, and began an investigation. Back in February, South Korean Prosecutors launched a dedicated joint investigation unit for crimes-related to virtual assets. The unit consists of mostly prosecutors and financial regulators from the the Financial Services Commission and the Financial Supervisory Service. Read more: South Korea launches official crypto crime prosecution unit
Crypto holdings could soon count toward U.S. mortgages under a new directive by the Federal Housing Finance Agency. In a directive issued by FHFA director William J. Pulte on June 25, the agency instructed mortgage giants Fannie Mae and Freddie Mac to develop proposals for including cryptocurrency holdings in single-family mortgage risk assessments. Previously, digital assets have not been included in mortgage lenders’ risk models unless they are converted to fiat. This policy marks a major shift in the way borrower reserves may be assessed, possibly enabling crypto assets to be considered when approving loans without first being converted into U.S. dollars. Before implementation, each institution must submit board-approved proposals. Only holdings that can be verified on regulated U.S. exchanges will be taken into consideration. After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage. SO ORDERED pic.twitter.com/Tg9ReJQXC3 — Pulte (@pulte) June 25, 2025 The directive called for extra protections to ensure sound underwriting practices and take market volatility into account. Critics have pointed out that the measure does not include self-custodied assets, which might prevent crypto-native users who value decentralization from participating. You might also like: Trump-backed World Liberty Financial plans USD1 stablecoin audit and new app launch Concerns have also been raised about Pulte’s family’s cryptocurrency ties. As of January 2025, his spouse reportedly owned between $500,000 and $1 million in Bitcoin ( BTC ) and Solana ( SOL ). Although there are no accusations of misconduct, the timing has sparked questions about potential conflicts of interest. This is not the first time crypto has been accepted as legitimate collateral in U.S. financial systems. In June, JPMorgan Chase began accepting spot Bitcoin exchange-traded funds, such as BlackRock’s iShares Bitcoin Trust, as loan collateral. Despite not being directly related to cryptocurrency, the exposure represents a big change in policy for a major traditional bank. Federally chartered cryptocurrency bank Anchorage Digital also offers crypto-backed loans through its collaboration with Arch Lending, accepting Solana, Ethereum ( ETH ), and Bitcoin as collateral. At the same time, BlackRock’s tokenized money market fund, BUIDL, is now accepted as collateral for institutional trading on exchanges like Deribit and Crypto.com. These developments show that traditional finance is becoming more comfortable using digital assets as collateral. With the adoption of the FHFA’s crypto directive, crypto-backed mortgages may become a standard in U.S. housing finance, giving holders of digital assets access to greater financial inclusion. You might also like: Kraken unlocks EU market access with MiCA license from Ireland
According to an official statement from Buidlpad on June 26, the SAHARA claim page for Binance has officially launched, enabling users to seamlessly link their Binance accounts for direct withdrawals.
The inquiry will assess the ASX’s governance, capability, and risk management frameworks across its group operations.
Invesco and Galaxy have officially filed for a spot Solana ETF with the U.S. Securities and Exchange Commission, marking a significant step in altcoin investment products. The proposed ETF aims
Between October 2024 and May 2025, notable shifts occurred in the altcoin market, marked by a significant increase in XRP holders and a decrease in those holding Solana , as reported by Bybit. During this period, the number of investors holding XRP nearly doubled, while those with Solana dropped by 35%. Continue Reading: XRP Dominates While Solana Fades: Cryptocurrency Shifts Unveiled The post XRP Dominates While Solana Fades: Cryptocurrency Shifts Unveiled appeared first on COINTURK NEWS .
Kraken has secured a MiCA license from Ireland’s Central Bank, enabling it to offer regulated crypto services across all 30 European Economic Area (EEA) countries. This regulatory milestone strengthens Kraken’s
Summary Strong Financial Performance: Circle demonstrates robust top-line growth in Q1 due to the current high-interest-rate environment. Pivotal Regulatory Catalyst: The potential passage of “GENIUS Act” could solidify USDC's market-leading position as a regulated digital dollar. High Valuation Sets Up a Risk: With hype pushing its ultra-high Price-to-Book multiple, a quick correction is a high risk. Discernible Headwinds: Material risks to the business are potential downturns in interest rates, intense competition with other stablecoins (essentially Tether's USDT), and considerable potential selling pressure. Editor's note: Seeking Alpha is proud to welcome Invest101 as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access. Click here to find out more » Our overall view of Circle Internet Group, Inc. (CRCL) is neutral with cautious optimism, balancing recent favorable market events with inbuilt uncertainties. The stock's strong trend at present is likely to persist for some time, with optimism in market sentiment for stablecoin usage. However, one should be cautious that there are strong and tangible risks associated with the stock, so far, necessitating caution. Investors should therefore closely watch US stablecoin regulation evolution and Federal Reserve policy before assuming a buy position at current levels to make informed choices. 2025Q1 Financial Performance Highlights Circle registered high financial growth in Q1 2025, registering a growth of almost 60% year-over-year in revenues, purely on account of interest income accrued on its USCoin USD (USDC-USD) reserves. While a huge decline was registered in net profit margin, both adjusted EBITDA and absolute net income registered positive growth, giving a healthy indication of high operational efficiency excluding non-cash and financing expenses. Financial Metric Mar 2025 ((USD)) Y/Y Change Reserve Income 557.9M 55.13% Total Revenue 578.6M 58.47% Distribution Costs 347.6M 68.15% Operating Expense 137.9M 30.12% Adjusted EBITDA 122.4M 60.55% Net Income 64.8M 33.21% Net Profit Margin 11.20% -15.94% Company Business and Revenue Model Stablecoin (USDC & EURC) The engine behind this stellar first-line performance is the stablecoin business of Circle. It earns interest on the massive stockpiles of money and government securities that collateralize each USDC issued. In the first quarter of 2025, this interest income made up more than 96% of revenues. Accordingly, the company's profitability is exceptionally interest-rate sensitive. These revenues are determined primarily by two dynamic factors: Interest Rates : If the U.S. Federal Reserve increases or decreases rates, the yield on Circle's reserves is directly impacted, affecting revenues. USDC in Circulation : A greater quantity of USDC in the market requires a greater reserve fund, thus generating a greater quantity of interest income. The company understands that forecasting its performance in the future is not easy, describing the interaction of user behavior with interest rates as "complex, highly uncertain, and unproven". For example, at higher rates, will investors redeem their USDC to put money into a traditional high-interest savings account? Or will investors hold their USDC because it is convenient to use to make digital payables and trades? To make a direct comparison to rate change impacts, Circle also simulated a fictional scenario with a stable USDC circulatory volume of 2025 at the IPO prospectus . With this foundation, a 1% (100bps) rise or fall of the interest rate would mean a $441 million boost or loss of reserve income. source : IPO prospectus Strategic Entry to Tokenized Money Market Funds Most stablecoins, including USDC, don't pay interest. TMMFs, by contrast, are a relatively new financial product that tokenizes the traditional money market funds. These funds invest in the safe and liquid assets like banks deposits and U.S. Treasuries to keep the net asset value (NAV) stable. While stablecoins do not pay interest, TMMFs do pay interest to the token holders. In the current high interest rate environment, the option to invest in TMMFs or other yield-bearing digital assets has become increasingly attractive relative to holding non-yield bearing stablecoins, especially for those planning to hold these assets for an extended period of time. Moreover, TMMFs are increasingly being accepted as collateral for margin trading. For instance, CFTC market advisory committee approved the recommendations to adopt DLT and tokenized assets as collateral for margin, indicating growing acceptance. Therefore, TMMFs become more readily accessible and widely integrated on blockchains as a form of collateral in margin trading. To capitalize on these emerging market trends and diversify its revenues, Circle is positioning itself to strategically enter Tokenized Money Market Funds (TMMFs). In an effort to accelerate this plan, Circle acquired Hashnote Holdings LLC on January 21, 2025, to include the USYC tokenized fund in its portfolio. USYC was one of the largest onchain TMMFs on March 31, 2025, with approximately $663.7 million under management. Circle wants to onboard USYC into its network to enable eligible non-U.S. customers to switch seamlessly from non-yield-bearing stablecoins like USDC to the yield-bearing USYC. That also poses a challenge to USDC. With TMMFs increasingly becoming popular as a type of collateral used in trading, a movement to TMMFs is likely to negatively impact the competitiveness and adoption of USDC as a collateral used in margin trading. Future Growth Drivers Circle's future growth is underpinned by several key opportunities: Regulatory Clarity Rapid expansions in stablecoins pose threats to the safeguard of the consumers, market stability and even its viability for the illicit activities like the money laundering. GENIUS Act, an acronym for Guiding and Establishing National Innovation for U.S. Stablecoins Act, is an important proposed legislation to govern payment stablecoins in the United States. The GENIUS Act attempts to resolve such problems by enacting an extensive federal regime of regulation and seeking a middle ground between innovation and safety. GENIUS Act has various intricate provisions to accomplish its goals, such as full reserve support, monthly reviews, as well as anti-money laundering requirements. Senate passed the GENIUS Act on June 18, 2025, by a vote of 68-30. The bill still faces hurdles in the Republican-controlled House, but its passage through the Senate is a turning point. The possible signing into law of the "GENIUS Act" would witness a federal framework governing stablecoins, to the possible advantage of an issuer such as Circle that is focused on compliance. Ecosystem Expansion Cooperative relations with payment behemoths such as Visa, Mastercard, Stripe, Worldpay, and MoneyGram are essential to bringing USDC into global trade and reaching mainstream adoption. Market Leadership According to the report published by Standard Chartered and Zodia Markets , the current stablecoin market is just 1% of the U.S. M2 money supply and 1% of international currency trades. It is likely to reach 10% of such markets with the increasing legitimacy of the sector, and Circle is well positioned to capture a substantial portion of this growth. Significant Risks to Consider Despite such heartening prompts, prospective investors have to offset some considerable risks: Valuation Concerns Based on the IPO prospectus, post-IPO net tangible book value per share was $7. At the close price of $222.65 (June 24), this translates to a high 31.8 Price-to-Book (P/B) multiple. Such massive premium is fueled based on market hype about stablecoin usage, a thesis that is most likely to see significant reversion. source : IPO prospectus Macroeconomic Headwinds Circle's business is highly sensitive to U.S. rates. A Federal Reserve pivot to a cycle of rate cuts would directly harm the company's core source of revenues. Intense Competition The company is also under constant pressure to compete with market capitalization leading Tether (USDT) and other emerging stablecoins. Post-IPO Selling Pressure Up to the second trading day after Circle's public release of its June 30, 2025, quarterly results, about 1.4 million Class A shares will be released from lock-up restrictions. These shares belong to non-selling stockholders of employees and Section 16 officers at the IPO, and represent 15% of their holdings. The rest lock-up agreements of majority of other insiders (directors, executive officers, selling stockholders, and major shareholders) also expire on the earlier of: 1) The second trading day after the public release of Circle's September 30, 2025, quarterly results. Or 2) 180 days after the IPO prospectus date. These announcements are likely to lead to a sizable increase in the amount of shares available to be sold on the market, and thus have a bearing on the stock price. Conclusion: A Persuasive Thesis Qualified with Circumspection The overall view of Circle is Neutral with Cautious Optimism. Circle Internet Group has a distinct investment thesis, offering a direct exposure to the digital asset economy's underlying infrastructure through a very profitable business model. With its compliance-driven outlook, the company is better positioned to achieve long-term success, provided a clear framework is established at the U.S. level. However, the "Neutral" recommendation is driven by tangible and sizable risks. Exceptionally high valuation depends on flawless execution and a continuing benign macroeconomic environment. Both risks of sensitivity to the interest rate, stiff competition, and imminent share unlock align to produce considerable downside volatility. Investors should therefore pay incredibly close attention to stablecoin regulation and Federal Reserve policy prior to considering a purchase at the current levels of discussed valuation.
BitcoinWorld Deribit and SignalPlus Launch “The Summer Chase” Trading Competition 2025 Featuring a $300,000+ USDC Prize Pool Panama City, Panama, June 26th, 2025, Chainwire Deribit , the world’s premier Bitcoin and Ethereum options ecosystem, in collaboration with SignalPlus , a crypto options and analytics dashboard, is excited to announce the launch of the Summer Trading Competition 2025 – The Summer Chase. “ The Summer Chase 2025 ” is a five-week trading contest offering a total prize pool of over $300,000 in USDC, with additional prizes including a Tesla, a Rolex, a Hawaii vacation, and more. From leaderboard battles to referral contests and daily reward events, the campaign aims to bring together a combination of skill, strategy, and summer fun for traders around the world. Competition Details: Total Prize Pool: Over $300,000 USDC and equivalent Competition Dates: June 26 – July 31, 2025 Eligibility: Open to Deribit retail traders trading via SignalPlus Registration Link: https://t.signalplus.com/deribitsummerchase Incentives: Users who register by June 30th will receive 3 free Deribit options. By referring a friend, users can win a Rolex. By inviting a trader, users will have a chance to win a Tesla. Luuk Strijers, Chief Executive Officer at Deribit, shared: “We’re excited to launch the third edition of our Options Competition in partnership with SignalPlus. Following last year’s massive success and incredible momentum, we knew we had to take things to the next level. This year, we’re raising the stakes with bigger rewards, fresh challenges, and even more opportunities for traders to showcase their skills.” Chris Yu, Co-Founder of SignalPlus, added: “We’re proud to partner with Deribit to welcome traders into the next exciting iteration of our summer trading competition. At SignalPlus, we are firm believers of crypto options being at the forefront of the next innovation wave, granting users ever expanding control of their digital asset portfolios. Together with Deribit’s leading platform, we’re delivering an experience that rewards skill, fosters learning, and energizes derivatives trading for the betterment of the community. As with our past collaboration successes, we are excited to see what this round of seasoned professionals and newcomers will achieve in the hot summer months, and look forward to interacting with all participants in the very near future.” Competition Highlights: Attractive Prize Pool: Compete on both individual and team leaderboards for a chance to win USDC cash rewards and additional prizes. From Tesla to Rolex to Hawaii travel to physical gold, ‘The Summer Chase’ should have something in store for everyone! Palm Throne Tournament: Climb the rankings each week by trading options and futures on Deribit with SignalPlus. Top traders earn weekly rewards with a twist – 1st place & odd-numbered rankers will receive bonus rewards! Island League Showdown – Team Competition: Team up and compete to win up to 1,000 USDC weekly, with 20% going to team leaders. All team members must meet the individual minimum trading volume for overall qualification. Big Referral Prizes: Invite and refer top-performing traders to the competition for a chance to win a Tesla or the equivalent of 30,000 in USDC.Upsize your referral bonuses by inviting additional registered users to earn up to 3,500 USDC, as well as jackpot prizes including a Rolex Submariner, Skydive Dubai entry, F1 Grand Prix tickets, and more. Participation Rewards & Daily Lucky Draws: Activity-based rewards will be granted to participants for making your 1st trade, social media contests, weekend boosts, and other challenges. Earn participation rewards without worrying about your rankings! Furthermore, daily events will be held to incentivize active traders with guaranteed USDC awards, while qualified teams will have a chance to win a trip to Hawaii through regular lucky draws. Cassette Rewards & Symbol Game: Daily trading activity unlocks cassette tokens for guaranteed and limited USDC rewards. Special symbol-based mechanics offer the chance to win a Hawaii trip and extra bonuses for teams. Lifestyle Prizes: From designer sunglasses and Apple Watches to travel giveaways and high-end electronics, The Summer Chase offers something for everyone. Learning & Engagement: Traders will have the opportunity to upskill their trading knowledge through weekly engagement events, prediction challenges, and social activities. Learn while you earn! The Summer Chase invites participants into a dynamic trading competition that combines strategic trading with seasonal celebration. With every trade, contenders edge closer to exclusive summer rewards. The event begins today. About Deribit Deribit is a centralized, institutional-grade provider of crypto derivatives ecosystem, specializing in Bitcoin and Ethereum options and futures. With state-of-the-art infrastructure, Deribit offers instantaneous price discovery, low-latency execution, advanced risk mitigation tools, and deep liquidity through a network of top-tier market makers. Deribit facilitates the majority of global crypto options volume and upholds rigorous proof-of-reserves practices to maintain the highest standards of integrity and transparency. About SignalPlus SignalPlus delivers a comprehensive options trading suite tailored for crypto derivatives traders. Access an advanced suite of tools to perform delta hedging, risk analysis, P&L attribution, and multi-leg execution with minimal slippage via our dashboard. Tap into exchange liquidity via listed order books or bilateral block-trade requests with institutional counterparties. Users can manage portfolio risk through an integrated suite of scenario-based risk simulations, supported by automated hedging functions and real-time Telegram alerts to help monitor exposures. Disclaimer: Deribit FZE is licensed by the VARA to provide Virtual Asset Exchange Services and does not accept or service retail clients. DRB Panama Inc. is not regulated and services both retail and non-retail clients. Virtual Assets are subject to extreme market volatility, involve a high degree of risk, and can lose value, in part or in full. Investing in Virtual Assets may result in you losing your entire investment. Virtual Assets are not insured against potential losses and are not protected by any form of financial protection whatsoever. Participants onboarded as clients under Deribit FZE (Qualified Investors) are eligible to win up to 5,000 USD in total throughout the competition period. They are not eligible for high-value rewards such as the Tesla or Rolex prizes. Clients registered via DRB Panama Inc. are eligible for the full prize pool, including the Tesla, Rolex, and all other promotional rewards. Contact Sidrah Fariq Head of Retail Sales Deribit sidrah@deribit.com This post Deribit and SignalPlus Launch “The Summer Chase” Trading Competition 2025 Featuring a $300,000+ USDC Prize Pool first appeared on BitcoinWorld and is written by chainwire
Australian AI biotech firm Opyl, listed on the ASX, has implemented a strategic move by acquiring approximately 2 BTC, valued at around $214,500, via DigitalX’s Bitcoin ETF. This initiative forms