Crypto Industry News & Market Trends

Teen ‘Scattered Spider’ suspect extradited to US over $8M crypto ransom

A teenager suspected of involvement with the “Scattered Spider” hacking group has been extradited to the US over his alleged role in an $8 million crypto ransom.　　The US Justice Department said on Wednesday that Peter Stokes, a 19-year-old dual US-Estonian national, was arrested in Finland in April on an Interpol Red Notice and extradited to the US last week to appear in a Chicago federal court on Tuesday.　　A criminal complaint unsealed in court accused Stokes and others of breaching a luxury jewelry retailers computer system in May 2025 to steal data and demand a ransom payment of $8 million in crypto. The retailer managed to evict them from the network and did not pay the ransom, but suffered $2 million in disruption damages, according to the complaint.　　Stokes is one of the few arrests that authorities have tied to Scattered Spider, which often uses crypto ransoms. Ransomware actors received more than $820 million in payments last year, an 8% decline from 2024, even as attacks rose by 50%.　　An image the FBI took from Stokes Snapchat account shows him wearing a necklace that says “Hack the Planet,” a quote from the 1995 cult film “Hackers.” Source: US Department of Justice　　Alleged hack started

07-03Industry

Strategy will be ‘less important’ in Bitcoin after STRC incident: Bitwise

Strategy‘s era as the dominant Bitcoin buyer may have come to an end following last week’s STRC turmoil, which cast doubt on the companys Bitcoin-buying strategy and sent the cryptocurrency to a nearly two-year low, according to Bitwise chief investment officer Matt Hougan.　　“For years, Strategy has been the most dominant Bitcoin buyer in the world and a one-way source of Bitcoin demand. Those days are likely over,” Hougan said Thursday.　　“I just expect it to be a less important figure in Bitcoin in the next cycle than it was in the last,” Hougan said, adding that investment banks, asset managers, pensions, endowments and sovereign wealth funds will likely replace Strategy as Bitcoins primary demand driver.　　Confidence in Strategys Bitcoin-buying model weakened late last month when its main perpetual preferred stock offering — Stretch (STRC) — broke sharply from its $100 par value to below $75, raising fears that its dividend model was unsustainable.　　The STRC incident coincided with Bitcoin (BTC) falling to a 21-month low of $58,190 on June 25, further rattling confidence across the crypto market.　　Strategy responded by committing to sell Bitcoin where necessary to fund dividends and by expanding its US dollar reserve to $2.55 billion — easing immediate concerns but

07-03Industry

Securitize gains on NYSE debut with tokenized stocks live on Solana, Avalanche

Tokenization platform Securitize rallied on its New York Stock Exchange debut on Thursday, as it brought tokenized versions of its shares to two blockchains.　　The company, which is backed by BlackRock and Morgan Stanley, began trading on the NYSE under the ticker SECZ on Thursday after merging with a Cantor Fitzgerald-backed special-purpose acquisition company to take it public.　　Securitize said Thursday that it simultaneously launched tokenized versions of its shares on the Avalanche and Solana blockchains, which will be available to eligible US investors on its platform.　　It marks the first time a newly public company has also offered tokenized stocks, an area of crypto technology that has quickly gained attention among major institutions drawn to the idea that it can bring deeper liquidity and longer trading hours.　　Securitize has carved out a lead in the tokenization space for institutions. It partnered with the NYSE in March to create tokenized assets for the exchanges upcoming tokenized securities platform.　　US laws allow for tokenized stocks, Securitize says　　Securitize said that tokenizing its stock demonstrates that tokenized securities “can be issued and accessed in the US under existing securities laws and market structure,” adding that access will be subject to onboarding, eligibility, and customer ID and money-laundering checks.　　“We

07-03Industry

US dominates Polymarket political bets despite geoblock: Report

US-based users are the biggest political bettors on Polymarket, despite the crypto-based prediction markets efforts to restrict US citizens from using the decentralized platform, according to new research.　　Blockchain research firm Allium estimated in a report published on Thursday that US-based users are the single biggest political market of any country by contracts traded and wallet count on Polymarket — not to be confused with Polymarket US, which is a US-regulated platform that launched in December with a narrower set of markets.　　“Blocking access did not end US participation; it made the US the largest single political market on Polymarket by volume,” the report said. “The demand is still there, now offshore and beyond US oversight.”　　The data suggests that Polymarkets efforts to restrict US users from its global platform have not entirely worked, adding to an expanding list of headaches for the company in the fast-growing predictions market sector, which is under legal and political scrutiny.　　Polymarket was forced to cut off US users access to its global platform as part of a $1.4 million settlement with the Commodity Futures Trading Commission in 2022.　　Allium based its figures on the 6% of wallets it tagged with a country, meaning the data should be seen

07-03Industry

Ripple co-founder backs venture launched by US senator's son: Report

Chris Larsen, co-founder and executive chair of Ripple Labs, was reportedly among those backing the financial venture of US Senator Kirsten Gillibrands son as negotiations over a significant piece of crypto-related legislation continue in the Senate.　　According to a Thursday Politico report, Larsen was one of a handful of investors backing the American Perpetuals Exchange Corp. (APEC), founded by Theodore Gillibrand. Although Larsens exact contribution was not included in the report, the majority of investors contributed between $5,000 to $10,000 each into the derivatives platform, which reportedly raised $30 million.　　The investment comes as the New York lawmaker is involved in negotiations over ethics provisions in the Digital Asset Market Clarity (CLARITY) Act, legislation expected to have a significant impact on crypto companies operating in the US, including Ripple. Gillibrand said in May that no one would be voting for the bill without addressing ethics:　　“[T]he truth is, is that we cannot allow members of Congress, senior administration officials, presidents or vice presidents, to get rich off of these industries because of their insider status. It is the worst form of pay for play.”　　A spokesperson for the senator referred Cointelegraph to her June 18 statement saying that her son was “a grown adult

07-03Industry

Bitcoin price taps new July high above $62K on weak US jobs data

Bitcoin (BTC) passed $62,000 at Thursdays Wall Street open as crypto reacted to weak US employment figures.　　Key points:US nonfarm payrolls data delivers a crypto market boost as job additions for June fall short.Investors eye an easing in the inflation outlook as optimism over BTC prices increases.Crypto begins its forecast “green July” by liquidating nearly $500 milllion of short positions.　　Bitcoin gains amid “volatile situation” for US labor market　　Data from TradingView showed new July highs of $62,137 on Bitstamp, with BTC/USD up nearly 4% on the day.BTC/USD four-hour chart. Source: Cointelegraph/TradingView　　The latest nonfarm payrolls data from the Bureau of Labor Statistics (BLS) showed that the US added far fewer jobs than expected in June, at 57,000 versus the anticipated 114,000.　　“Both the unemployment rate, at 4.2 percent, and the number of unemployed people, at 7.1 million, changed little in June,” an official news release stated.US unemployment data. Source: BLS　　The jobs numbers painted a weak picture of the labor market — a potential tailwind for risk assets should the Federal Reserve loosen financial policy as a result.　　“Mays jobs number was also revised down by -43,000 jobs,” trading resource The Kobeissi Letter noted in a reaction on X.　　“The labor market remains in a volatile situation.”　　As

07-03Industry

Bitcoin holds $61K after US jobs data report, AI sector weakness: Did BTC bottom？

Key takeaways:Soft US jobs market data triggered a rotation of capital from overheated AI stocks into Bitcoin and gold.Bitcoin onchain indicators hint at seller exhaustion while the decline in oil prices opens room for monetary expansion.　　Bitcoin reclaimed the $61,000 mark following a disappointing US job market report. Traders grew less certain of a near-term interest rate hike from the US Federal Reserve (Fed) given the worsening labor data. The tech-heavy Nasdaq index sold off, fueling hopes of a capital rotation favoring Bitcoin.　　Nasdaq 100 Index futures (blue) vs. Bitcoin/USD (orange). Source: TradingView　　The Nasdaq 100 Index erased gains from the three prior days, while Bitcoin distanced itself from Wednesdays $57,750 low. US non-farm payrolls increased by only 57,000 in June, missing the 113,000 expected, according to Yahoo Finance. The US Labor Department also revised data for April and May downward by 74,000 jobs.　　Gold prices reacted positively on Thursday, hinting at potential bullish momentum for scarce assets. The weak economic data prompted investors to cut odds of Federal Reserve interest rate hikes by September to 54% from 64% the prior day, according to the CME FedWatch Tool. Meanwhile, crude WTI oil prices stabilized below $70, opening the door for possible economic stimulus measures　　Gold/USD

07-03Industry

Is Bitcoin heading for $65K？ Sharplink buys $16M ETH: Market Moves

Bitcoin rises amid Fed inflation talks: Bull trap or $65K next？　　Bitcoin (BTC) reacted positively to US Federal Reserve Chair Kevin Warshs remarks on stubborn inflation. Despite the gains on Wednesday, traders fear that incentives for fixed-income investments and strong earnings momentum in tech stocks will continue to pressure non-yield-bearing assets like cryptocurrencies.　　Michael van de Poppe(Michael van de Poppe)　　The US five-year Treasury yield jumped to 4.22%, meaning traders demanded higher returns to hold government bonds. Even as inflation eventually eases and WTI crude oil prices fell to a 4-month low, investors anticipate monetary expansion.　　Regardless of how the Fed manages interest rates and its balance sheet, the US Treasury dictates debt issuance trends.　　Bitcoin bounces off 21-month low, but leverage data signals caution: Was $57K the bottom？　　Bitcoin (BTC) is trading at around $61,490 at the time of publication after falling to a 21-month low of $57,737 earlier on Wednesday.　　Ether (ETH) and Solana (SOL) also gained, up 3% and 4.85%, respectively.　　The bounce took place amid deep investor caution, with sentiment trackers gauging the balance of fear and greed in crypto markets currently reading around 11 out of 100, which is in “Extreme Fear” territory. Despite the rebound from the yearly low, Bitcoin remains down

07-03Industry

FBI director discloses Strategy holdings months after deadline: Report

Kash Patel, director of the Federal Bureau of Investigation (FBI) , reportedly omitted reporting exposure to Bitcoin treasury company Strategy, in violation of federal law.　　According to a Wednesday report from the nonpartisan nonprofit news agency NOTUS, Patel “inadvertently omitted” a Strategy (MSTR) investment worth as much as $250,000. The purchase, which Patel conducted on Nov. 21, 2025, wasnt included in his December 2025 financial disclosures, as required for a government official under the Stop Trading on Congressional Knowledge (STOCK) Act.Source: NOTUS　　Patel filed an amended report on May 26, indicating that the Strategy holdings were “inadvertently omitted” and “no current conflict exists” with the investment. Under the STOCK Act, some government officials and lawmakers must disclose financial transactions exceeding $1,000 no later than 45 days after executing the trade. Strategy, formerly known as MicroStrategy, is a registered US government contractor, raising concerns about conflicts of interest with Patels investments.　　Although signed into law in 2012, the STOCK Act has come under fire from many in Congress who claim that lawmakers and White House officials who violate it do not face severe penalties. First-time violators are only subject to a $200 fine under the law, with additional penalties falling short of the hundreds

07-03Industry

Russia on track for digital ruble rollout on Sept. 1: Central bank governor

Russias central bank governor, Elvira Nabiullina, confirmed that the country was prepared to roll out its central bank digital currency (CBDC) in two months, following the timeline it laid out last year.　　According to a Thursday report from Russian state media outlet RIA Novosti, Nabiullina said that “everyone is ready” for a Sept. 1 digital ruble launch. The CBDC will launch as a complement to Russias fiat currency, the ruble, and will initially be accepted by financial and credit institutions.　　“We want the digital ruble to be in demand by people and businesses, to be convenient, and, of course, were constantly discussing [...] what functionality to develop,” said Nabiullina in a translated statement.　　Pile of 5000 ruble banknotes next to a keyboard on a white surface, viewed from above. Source: Polina Tankilevitch, Pexels　　The launch of a digital ruble, whose development began in 2021, has already been targeted by preemptive sanctions from European Union authorities, which announced restrictions on the CBDC in April. The European Council said that the sanctions package was in response to Russias “war of aggression against Ukraine,” which it started in February 2022.　　According to the Bank of Russias first deputy governor, Vladimir Chistyukhin, the law allowing the digital ruble will

07-03Industry

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