Latest Crypto News & Market Updates

Binance makes fighting crypto crime more difficult, says new report

Under the policy, foreign law enforcement agencies must route certain requests through Mutual Legal Assistance Treaties, or MLATs. The treaties provide a formal process for governments to exchange evidence and information in criminal investigations, but requests can take considerably longer than direct cooperation with an exchange.　　The change represents a departure from Binances previous approach, under which it worked directly with authorities to freeze suspicious accounts and provide information about users under investigation, the NYT said.　　“Binance has not slowed its cooperation with global law enforcement,” a spokesperson said in an email to CoinDesk. “On the contrary, we have increased our cooperation year over year, while navigating the increasing complexity of government approaches to crypto regulation and data protection.”　　The spokesperson said Binance continues to prioritize collaboration with law enforcement agencies worldwide, including in the U.S. and Europe. Binance said its assistance goes “beyond any legal obligation upon us and what traditional financial services firms typically do.”　　“This is a deliberate strengthening of the controls and safeguards that govern how we cooperate, which is consistent with the standards expected of a regulated institution,” the spokesperson added.　　The NYTs report follows a similar account from The Information this month, which cited a Justice Department (DOJ) memo

07-28Industry

Perpetuals tied to SK Hynix hit by flash crash to $900 on Hyperliquid

SummaryPerpetual futures tied to SK Hynix on the Hyperliquid exchange plunged about 20% in one minute before quickly rebounding above $1,000.The flash crash in the USDC-denominated contract preceded a sharp selloff in South Korea, where SK Hynix shares fell 14% and the Kospi index dropped 11%.The episode comes amid thin overnight crypto liquidity and broader weakness in AI-related stocks, including a 5% drop in Nvidia after a report on its potential $250 billion financial backstop for an OpenAI-linked data-center project.　　Perpetual futures tied to SK Hynix, a South Korean chipmaker whose American depositary receipts debuted on Nasdaq earlier this month, suffered a flash crash on Hyperliquid shortly before the underlying share price came under pressure in its home market.　　Between 23:00 UTC and 23:01 UTC, the price of perpetuals tracking the Seoul-traded stock crashed 20% to $900, according to data from Hyperliquid. The price rebounded to over $1,000 the very next minute and was recently priced at $1,092. The contract is traded and denominated in dollar-pegged stablecoin USDC.　　An hour later, the Korean stock market opened on a negative note, led by chipmakers. By the end of the day, SK Hynix shares had dropped by 15% to 1,550,000 won ($1,762). Other losers included

07-28Industry

Argentina peso stablecoins take shape as BIND and Petersen advance projects

Argentina‘s banking-backed groups have moved closer to launching peso stablecoins for businesses, introducing digital peso projects designed for programmable payments while the country’s banking sector remains barred from offering crypto services directly.　　According to a report by Iproup, two financial holding groups with banking operations are developing Argentine peso-backed stablecoins through separate virtual asset subsidiaries, positioning the products for institutional users rather than retail customers.　　The projects are being advanced outside the banking entities themselves because the Argentine Central Bank has prohibited private banks from providing crypto-related services since May 2022.　　BIND Group, which manages more than $2 billion in assets and owns BIND Banco Industrial, is developing a peso-backed stablecoin through its virtual asset service provider BEN, the report said. Earlier this year, BEN also entered a partnership with Circle to give institutional clients access to USDC for treasury management and payment applications under Argentinas regulatory framework.　　A second initiative is being prepared by Petersen Group through one of its subsidiaries with technical support from crypto infrastructure provider Lirium, according to Iproup. The stablecoin, known as DIPE, already has a published whitepaper, suggesting the project has progressed beyond the early planning stage.　　Although neither offering has been launched publicly, both target corporate treasury operations

07-28Industry

South Korea police raid former mayor's home in crypto disclosure investigation

South Korean police have searched the home of former Incheon Mayor Yoo Jeong-bok and city offices as part of an investigation into allegations that cryptocurrency assets were omitted from his local election financial disclosure.　　According to South Korea‘s Yonhap News Agency, investigators from the Incheon Metropolitan Police Agency’s Anti-Corruption and Economic Crime Investigation Unit carried out search and seizure operations on Sunday at Yoos residence and the General Affairs Division of Incheon City Hall, where they collected evidence including mobile phones and computers as part of an investigation into alleged violations of the Public Official Election Act.　　The investigation centers on claims that Yoo and his wife intentionally failed to report approximately 21,000 cryptocurrency tokens after transferring the holdings to an overseas exchange before submitting mandatory asset disclosures during South Koreas June 3 local elections.　　Police have already questioned Yoo, his wife, identified only by her surname Choi, along with individuals connected to complainant Park Chan-daes campaign, Yonhap reported. The newly executed searches are part of efforts to secure additional evidence as investigators continue examining whether the reported assets should have been included in the election filings.　　Police expand probe into crypto disclosure allegations　　According to Yonhap, the allegations first surfaced roughly 10 days before

07-28Industry

Strategy hits a 5 week pause on Bitcoin, using $25M to quietly buy back its own discounted stock

Strategy (formerly MicroStrategy) has begun buying back its STRC preferred stock as the Bitcoin treasury company shifts more capital toward supporting its financing structure.　　In a July 27 SEC update, Strategy said it purchased 288,930 STRC shares for $25 million between July 20 and July 26, marking the first disclosed use of a $1 billion preferred-stock repurchase program approved last month.　　The shares were acquired at an average price of $86.52, a sizeable discount to STRCs $100 stated amount.　　The move comes during Strategys longest pause in its once-regular Bitcoin accumulation. The firm has not purchased a single BTC for the past five weeks, its longest hiatus since 2024.　　Despite this pause, the Michael Saylor-led company remains the largest public holder of the top crypto with 843,775 BTC. They were acquired at an average purchase price of $75,476 per Bitcoin, or $63.69 billion.　　STRC discount pushes Strategy toward direct support　　The STRC repurchase follows a prolonged period of weakness in the variable-rate perpetual preferred stock, which Strategy intends to keep trading close to its $100 stated amount.　　STRC fell below $77 over the past month before recovering to around $88 as of press time. Despite the rebound, the security remains well below Strategy‘s target level, complicating its

07-28Industry

OKX app returns to South Korea's Google Play Store after four day suspension

OKX has returned to South Korea‘s Google Play Store after a four-day suspension, while Bybit’s app remains unavailable in the country.　　According to a July 28 report by Digital Asset, the OKX: Trade Bitcoin & Crypto app once again appears in search results on South Koreas Google Play Store, allowing users to install the application or update existing versions after it disappeared from the platform on July 24.　　The publication verified that the exchanges Android app had resumed normal distribution as of 8:00 a.m. local time on July 28. The restoration comes roughly four days after South Korean users lost access to new downloads and updates through Google Play.　　Bybit, however, remains in a different position. Digital Asset said the exchanges app, which became unavailable on July 10, was still blocked from search results and installation at the time of publication.　　OKX becomes the first recent exchange to regain Play Store access　　Only days earlier, Digital Asset had reported that the OKX app could no longer be found on South Koreas Google Play Store, preventing Android users from installing or updating the application. At the time, other major overseas exchanges, including Binance and Bitget, continued to appear normally in search results and remained available for

07-28Industry

Fanatics to acquire BGC prediction market exchange

Fanatics agreed on July 27 to acquire Water Street Labs and CX Clearinghouse from BGC Group, giving the sports platform a federally regulated exchange and clearinghouse for its prediction markets business.　　SummaryFanatics agreed to buy two CFTC-registered entities, gaining direct control of exchange and clearing infrastructure.Water Street Labs received CFTC designated contract market status on July 16, 2026, records show.Fanatics Markets currently operates across 23 states and four U.S. territories, according to company disclosures.　　Financial terms and a closing date were not disclosed. The deal has been announced but has not been described as completed.　　Once ownership transfers, Fanatics intends to list event contracts through Water Street Labs and settle them through CX Clearinghouse rather than relying entirely on an outside exchange and clearing partner.　　You might also like:　　NFL asks CFTC to curb high risk sports prediction contracts　　Fanatics prediction markets move in-house　　Fanatics Markets launched in December 2025 through a partnership with Crypto.com Derivatives North America. Fanatics had also acquired Paragon Global Markets, a CFTC-registered introducing broker and National Futures Association member, in July 2025.　　The new transaction would add the remaining core market infrastructure. Fanatics said owning the exchange and clearinghouse would let it directly list and clear contracts across a wider range of events.

07-28Industry

Upbit lists RLUSD in KRW, BTC and USDT markets

South Korean crypto exchange Upbit announced trading support for Ripple USD on July 28, adding RLUSD pairs against the Korean won,　　Bitcoin and USDT. Trading was scheduled to begin at 2:00 p.m. Korea Standard Time, subject to the exchange securing sufficient liquidity.　　Deposits and withdrawals were due to open within two hours of the announcement. Upbit limited transfers to the XRP Ledger version of RLUSD, excluding the tokens Ethereum and other supported-network versions.　　신규 디지털 자산 리플유에스디(RLUSD) 거래지원 안내　　✅ 지원 마켓: KRW, BTC, USDT 마켓　　???? 거래지원 개시 시점 : 2026-07-28 14:00 KST 예정　　????공지 바로가기:https://t.co/wVLKHLQmvj#Upbit #RLUSD@Ripple pic.twitter.com/SiSlVJ9E26　　— Upbit Korea (@Official_Upbit) July 28, 2026　　Upbit placed temporary limits on RLUSD trading　　Upbit planned several controls during the opening period. Buy orders were restricted for approximately five minutes after trading began. Sell orders priced more than 10% below the previous days closing price were also restricted for the same period.　　For roughly two hours after launch, users could submit only limit orders. Market orders and other conditional order types were unavailable during that window. Upbit said it could postpone trading if the available liquidity did not meet its requirements.　　The exchange quoted RLUSD at 1,468.76 won, 0.00001583 BTC and 0.9995 USDT at 11:00 a.m. KST. Those figures preceded the scheduled

07-28Industry

Bitcoin slides 2% after U.S. close while Koreas Kospi plunges 10%

SummaryBitcoin fell about 2.7 percent to roughly $63,200, extending losses across major cryptocurrencies as Asian equities, led by South Koreas Kospi, sold off sharply.The U.S. Senate has delayed action on the closely watched CLARITY Act to focus on a Russia sanctions bill, likely pushing any vote on crypto regulatory legislation to next week before the Aug. 8 recess.Analysts say bitcoin tends to move with stocks when macro and interest-rate stress is high, and they expect volatility across asset classes around the Federal Reserves rate decision Wednesday and key U.S. data on Thursday.　　Bitcoin has come under pressure since the U.S. stock market closed Monday, with South Koreas Kospi leading Asian equities lower and providing risk-off cues to the cryptocurrency market.　　BTC has fallen to $63,200 from nearly $65,000, a 2.7% decline that has spilled over into the broader crypto market and dragged down the likes of ether (ETH), XRP (XRP), solana (SOL), and others. The drop ends the brief resilience the market showed earlier Monday as shares in NVDA tanked on Wall Street.　　The Senate has shelved the CLARITY Act to prioritize a Russia sanctions bill, making a vote on the much-awaited legislation, touted to deliver regulatory clarity and unlock massive institutional buying

07-28Industry

XRP price drops 5% as $1.05 support breaks, more downside ahead？

XRP price fell about 5% to $1.05 on July 28 as a broader risk-off move and forced long liquidations pushed the token below a closely watched technical floor.　　SummaryXRP dropped from roughly $1.11 to $1.05, breaking support near $1.054.The 4-hour RSI fell to 25.93, placing XRP in oversold territory.Daily Chaikin Money Flow reached -0.12, showing continued net capital outflows.Liquidation clusters near $1.075 and $1.097could limit an early recovery.　　XRP price breaks below a double-top neckline　　According to data from crypto.news, XRP (XRP) price traded at $1.049 at the time of writing after reaching an intraday low of $1.0486 on Binance. The decline extended a broader downtrend that has kept the token under pressure since May.　　The 4-hour chart shows XRP forming two rounded peaks near $1.17, creating a double-top structure. Both advances lost momentum before buyers could establish support above $1.15.　　XRP price forms double top on the 4-hour chart — July 28 | Source: crypto.news　　A horizontal neckline near $1.054 separated the pattern from its bearish confirmation. XRP moved below that level on July 28, exposing the psychological $1 mark and the late-June lows between $1.01 and $1.03.　　The breakdown followed repeated failures around $1.11 during the previous sessions. Sellers took control once XRP lost $1.08,

07-28Industry

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