Crypto Industry News & Market Trends

The $1.74m crypto win proves whales are moving into entertainment

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.　　A player reportedly deposited 1 million USDC on 1win and backed Paris Saint-Germain at 1.74 odds against Aston Villa, receiving a $1.749 million USDC payout after the win.　　Just this week, a player deposited 1,000,000 USDC and placed the full amount on Paris Saint-Germain to beat Aston Villa, at odds of 1.74. They won, almost immediately producing a $1,749,000 USDC payout from the entertainment and prediction platform, 1win.　　The win rakes in a huge reward for the user, but it also shows that whales are no longer limiting themselves to exchanges, DeFi protocols and token markets. The player is part of 1wins Crypto Ambassador Program, connecting the whale-sized transaction directly with the crypto-native community the platform is actively building.　　This is proof that large digital-asset holders are using crypto directly inside entertainment platforms, with some of the transaction sizes now looking more like institutional trades than ordinary online bets.　　The rise of the crypto VIP　　The traditional crypto “whale” is usually discussed in terms of wallet movements, exchange deposits or major token positions. But as digital assets become easier to use outside trading, high-value users

19 hours agoIndustry

Binance Blacklists HTX and 10 Other Crypto Platforms: Are Your Funds at Risk？

Binance will stop processing transfers to and from HTX and 10 other crypto platforms on August 23. Anything sent after that date can be held for a compliance review.　　Binance did not draw up that list. It matches, name for name, the crypto firms in the European Unions latest sanctions package.　　Sponsored　　Sponsored　　The List Came From Brussels, Not Binance　　The EU adopted Council Regulation 2026/1848 on July 23. It bans transactions with 14 crypto and payment platforms. Eleven of them become illegal to deal with on August 23.　　Binance picked the same date in its announcement. It also copied the names exactly, down to odd spellings like “NoOnecrypto INC.” and “Exnode Pay (Arvix).”　　Binance Blocks Transactions with 11 Crypto Platforms　　Starting August 23, Binance will halt all transfers involving HTX, EXMO, and nine other crypto platforms to comply with tightening regulatory rules.　　The exchange is actively warning users not to send or receive funds from…　　Two earlier names came from Washington instead. The US Treasury sanctioned Shelbit and Aban Tether on August 7 over links to Iranian networks.　　So this is not a delisting. No tokens leave Binance, and spot trading carries on as normal. What changes is where users can legally send money.　　Sponsored　　Sponsored　　Starting August 23, the following platforms will

19 hours agoIndustry

XRP Price Falls Below $1 Again Despite Record Network Adoption

XRP price slipped below $1 again in the past 24 hours, despite record adoption metrics across the XRP Ledger (XRPL). The altcoin is currently testing a level it defended for years.　　The breakdown complicates a thesis built almost entirely on institutional demand and network growth.　　XRP Price Performance. Source: CoinGecko　　Sponsored　　Sponsored　　What the Price Action Actually Shows　　A psychological support level is a round number that traders defend collectively, often regardless of underlying fundamentals. XRP has held above $1 for 635 consecutive days.　　The streak ended on August 11. The token printed $0.9915, its first move below the level since November 2024. Each return to that zone carries weight. Repeated tests suggest sellers keep probing for weakness beneath a floor that once looked solid.　　The symbolism cut deeper than the arithmetic. At the recent low, XRP briefly traded below RLUSD, Ripples own dollar stablecoin. Technical levels now define the range.　　Analysts identify $0.70 to $0.90 as the next support, with a broader zone extending toward $0.86 if selling accelerates.　　Follow us on X to get the latest news as it happens.　　Buckle up! If $XRP tags its 3-month 40 EMA, similar to 2023 & 2024, the retest could form a strong base for accumulation, and equally the launchpad for a

20 hours agoIndustry

AI cannot bear liability for losing trades, responsibility follows delegation: Brickken CEO

AI agents have started executing trades and moving funds without constant human approval, prompting Brickken CEO Edwin Mata to argue that liability must follow the authority granted to the software rather than attach to the AI itself.　　Sandmark reported on Aug. 6 that existing laws provide no single answer for losses caused by autonomous financial agents, leaving courts to examine the user, developer, platform, and institution involved in each transaction.　　The report said contract law, negligence rules, product liability, and fiduciary duties could all apply, depending on who controlled the agent and what caused the loss. A user may bear the result of an authorized trade, while a developer or platform could face claims if faulty design, weak safeguards, or corrupted information pushed the agent outside its intended role.　　Commenting on the issue, Edwin Mata, a lawyer and the CEO and co-founder of tokenization platform Brickken, told crypto.news that responsibility should never be assigned directly to the software.　　“Under current law, AI is not a legal person capable of assuming duties or bearing liability. It is a technical system acting on behalf of a natural or legal person.”　　According to Mata, an investigation should instead establish who authorized the agent, whose interests it represented, and

20 hours agoIndustry

Binance to block transactions with HTX, 10 other exchanges under EU Russia sanctions

Quick TakeBinance said it will no longer process transactions from 16 exchanges, including five that were already blocked, citing regulatory compliance needs.The move follows EU sanctions on HTX and the other listed firms for allegedly helping Russia circumvent restrictions tied to the Ukraine invasion.　　Binance said it will no longer process transactions involving a group of crypto-asset service providers and exchanges, citing compliance concerns, according to an announcement on Friday.　　While most of the named entities are low-volume and little-known platforms, HTX (formerly Huobi), a significant global centralized exchange, was also on the list.　　“Binance is required to adhere to the regulatory requirements in the jurisdictions in which it operates,” Binance wrote. “These measures are necessary to meet those requirements and to help maintain a safe and secure environment for our users and their assets.”　　Restrictions on Shelbit and Aban Tether Exchange took effect August 7, while A7 Nigeria, A7 Africa and PilotFinance Ltd. were cut off as of August 13.　　Beginning August 23, the list expands to include Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto, Tradex, Monease, BitPapa, Exnode/Exnode Pay, HTX (Huobi Global SA) and EXMO Ltd.　　The move follows the EUs sanctioning of HTX in July for allegedly helping Russia circumvent sanctions, in part by

20 hours agoIndustry

Digital money needs interoperable settlement rails, Lynq CEO says

Lynq CEO Jerald David has said institutional finance needs interoperable settlement systems capable of moving cash and collateral 24/7 as firms adopt several forms of digital money.　　SummaryInstitutions are likely to use stablecoins, tokenized deposits, CBDCs, and traditional bank money.Separate payment systems can leave capital unavailable where institutions need it.The Bank of England is testing stablecoins and simulated digital pounds in one payment flow.David said settlement infrastructure must keep pace with markets that trade around the clock.　　In comments shared with crypto.news, David said the Bank of Englands latest digital pound experiment gives an early indication of how institutional markets may use several forms of digital money instead of choosing one option.　　“I do not expect a single form of digital money to replace all others,” David said.　　“Stablecoins, tokenized deposits, tokenized money market funds, potentially CBDCs, and traditional bank money are all likely to have different roles depending on the counterparty, jurisdiction, and type of transaction.”　　His comments follow an Aug. 12 report detailing how NOBO Finance, Dun & Bradstreet, and Polygon Labs joined Phase 2 of the Bank of Englands Digital Pound Lab. The consortium is testing whether a stablecoin and simulated digital pounds can handle separate parts of the same cross-border trade-finance

20 hours agoIndustry

Ethena treasury company StablecoinX shares jump 12% after revealing 20% stake in ENA supply

Quick TakeStablecoinX reported a $34.2 million Q2 net loss, mostly driven by a $36.2 million digital asset impairment.Its ENA stash is worth over $250 million at current prices.　　StablecoinX (USDE) shares jumped more than 12% in early trading Friday after the newly public Ethena-focused treasury company reported its first quarterly results, revealing it held roughly 20% of the total ENA supply.　　StablecoinX (USDE) stock price chart. Source: Google Finance　　The company holds approximately 3 billion ENA valued at more than $250 million at current prices. StablecoinX said the position was worth around $9.09 per share based on its 24 million Class A shares outstanding at quarter-end.　　StablecoinX reported a $34.2 million net loss for the quarter, though nearly all of it was driven by unrealized losses on its ENA holdings.　　The companys operating business is still in its early stages, generating just $62,372 in infrastructure services revenue during the final two weeks of June. Its decentralized verifier node has surpassed $3 billion in cumulative cross-chain volume, according to the release.　　“Our first quarter end as a public company reflects the successful close of our business combination and our emergence as one of the first publicly traded companies providing public market investors and financial institutions with exposure

20 hours agoIndustry

Fake LinkedIn Crypto Job Scams Have Cost $11.8M: Singapore

In briefSingapores police force and cyber security agency put losses from a scam using fake job offers and compromised software systems at $11.8 million.They describe a case in which a victim was approached by a bogus recruiter for a crypto firm and steered into a coding assessment run on a company laptop.The malware harvested a session token, which was used to bypass multi-factor authentication and open the victims Bitbucket account.　　Scammers posing as recruiters for cryptocurrency companies have taken $11.8 million (S$15.1 million), using fake job offers to compromise their targets employers, according to a joint advisory from the Singapore Police Force and the Cyber Security Agency of Singapore.　　Setting out how the scam works in a statement on Friday, reported by The Straits Times and Channel NewsAsia, the agencies said a victim was approached on LinkedIn by someone posing as a recruiter for a crypto company, then moved to email, where the sender used a spoofed domain closely resembling a real firms. Several interviews followed on Google Meet. The interviewer kept their camera off throughout.　　The victim was then sent to a spoofed website to complete a technical coding assessment, and did so on a company-issued device, downloading malicious software in the

21 hours agoIndustry

Hyperscale Data sells 685 BTC, redirects $43M toward Michigan data center

Hyperscale Data has sold about 685 Bitcoin for approximately $43 million, cutting its holdings to around 275 BTC as it directs more capital toward its Michigan data center.　　Hyperscale Data said Friday that most of the proceeds will be used for the continued development and expansion of the Michigan facility, while part of the cash will give it more room to manage debt, equity and its overall capital structure.　　The transaction leaves the NYSE American-listed company with roughly 275 BTC on its balance sheet. Management described the sale as an allocation of capital at its current stage of development and said Bitcoin remains part of its long-term strategy.　　Executive Chairman Milton “Todd” Ault III said the company plans to continue mining Bitcoin and expects to use future mining production and available capital to rebuild its holdings over time.　　“Bitcoin has been an important part of Hyperscale Datas strategy and we expect it to remain an important part of our strategy going forward,” Ault said. “We intend to continue mining Bitcoin and, over time, expect to use mining production and available capital to rebuild and increase our Bitcoin position.”　　At the current stage of the Michigan project, however, Ault said management believes part of the Bitcoin

21 hours agoIndustry

Binance to stop HTX transactions from Aug. 23 over sanctions

Binance has said it will stop processing transactions involving HTX and 10 other listed crypto platforms from Aug. 23 as new sanctions and regulatory restrictions take effect.　　Binance said in a Friday announcement that the restrictions will apply to Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto INC., Tradex, Monease Ltd, BitPapa, Exnode, HTX, formerly Huobi, and EXMO. The exchange cited recent regulatory developments for the decision.　　Transactions involving any of the affected providers could be held for compliance checks once their respective restrictions take effect. Binance said wallets may also face restrictions while reviews remain in progress.　　Users were advised against sending assets directly or indirectly to the listed providers after the cutoff dates, since transactions involving them could trigger further compliance action under Binances terms.　　Binance restrictions will cover 11 platforms from Aug. 23　　The Aug. 23 cutoff covers a group of exchanges and crypto service providers that have recently faced sanctions-related restrictions in Europe, including HTX, EXMO, Rapira, BitPapa and Aifory.　　Several of the names overlap with the European Unions latest sanctions measures against Russia. The bloc adopted its 21st sanctions package on July 23, expanding transaction restrictions against financial institutions and crypto services that officials accused of helping Russia bypass existing sanctions.　　As crypto.news previously

21 hours agoIndustry

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