Latest Crypto News & Market Updates

South Korea's Bithumb officially targets 2028 IPO, outlines multi-year roadmap

Quick TakeBithumb, South Koreas second-largest crypto exchange, officially confirmed its 2028 target for an initial public offering.The exchange said it will request a preliminary listing review in 2027.　　Bithumb, South Koreas second-largest crypto exchange, announced Monday that it is advancing preparations for an initial public offering, with a target completion date in 2028.　　In a notice posted on its website, the exchange laid out its multi-year preparation plan for the IPO.　　This year, Bithumb will focus on upgrading its internal controls and preparing its transition to comply with the Korean International Financial Reporting Standards (K-IFRS), the countrys official accounting framework built on international standards. The company currently operates on Korean Generally Accepted Accounting Principles (K-GAAP).　　In 2027, Bithumb plans to request a preliminary listing review and have its application reviewed by local authorities, and ultimately complete its IPO in 2028. The schedule remains subject to changes in market conditions and regulatory review timelines, Bithumb noted.　　“Bithumb is advancing towards the ambitious goal of an IPO to maximize corporate value and demonstrate management transparency,” the company wrote in the notice. “Bithumb‘s listing is not simply about expanding the company’s size, but a process of building solid trust so that customers can trade with greater peace of

08-03Industry

Ripple Expands XRPL With ZILO and Licuido Investments

Ripple Strengthens XRPL for Institutional Finance With Strategic ZILO and Licuido Deals 　　Ripple is accelerating its push into global capital markets with strategic investments in ZILO and Licuido, expanding the institutional infrastructure underpinning the XRP Ledger (XRPL).　　More notably, these additions bring regulated transfer agency, digital asset issuance, and collateral mobility to Ripples ecosystem, underscoring its ambition to become a leading provider of infrastructure for tokenized finance, not just cross-border payments.　　The announcement comes shortly after Aviva Investors tokenized its U.S. Dollar Liquidity Fund on the XRPL, signaling that institutional adoption is moving beyond pilot programs into real-world deployment. It also follows reports that Ripples valuation has climbed to $50 billion, highlighting growing confidence in its expanding role across digital finance.　　Ripple believes tokenization is only the starting point. The greater opportunity lies in enabling tokenized assets to be traded, financed, pledged as collateral, and settled instantly within a regulated ecosystem, replacing slow and fragmented legacy processes.　　Ripples Capital Markets Vision Takes Shape With Institutional-Grade XRPL Infrastructure　　Despite rapid innovation, global capital markets still rely on infrastructure built decades ago, where settlement can take days and trillions of dollars in collateral remain locked up. Ripple aims to modernize this system by building an end-to-end investment

08-03Industry

Important Ripple (XRP) Announcement, New Investments: August 3

The company has made two new strategic investments, aiming to bring regulated fund issuance, settlement, and collateral mobility onto the XRP Ledger.　　Ripple has expanded its digital capital markets strategy. The company announced today investments in Zilo and Lucuido – two firms that are focused on developing infrastructure for tokenized funds and institutional asset trading.　　The move builds on existing partnerships with both firms. Ripple did not disclose the size of either investment.　　Speaking on the matter was Nigel Khakoo, SVP, Trading and Markets at Ripple, who said:　　“… ZILO and Licuido provide core capabilities that are essential to further scaling this shift: regulated digital transfer agency infrastructure and liquidity for issuance and collateral mobility. This is just the beginning of the journey, and we see a substantial opportunity to bring huge efficiencies to the investment sector over the next decade.”　　ZILO provides transfer agency and fund administration technology. Its systems give asset managers and custodians regulated digital records for tokenized share classes. Licuido, on the other hand, operates an FCA-regulated platform that supports the issuance, distribution, trading, and use of traditional assets as digital collateral.　　Ripple plans to integrate these capabilities with its infrastructure on the XRP Ledger. The company wants institutions to issue tokenized

08-03Industry

Four unpatched bugs, a 5-year quantum clock, and a miner standoff are pushing Bitcoin to a critical crossroad

Bitcoin entered BIP-110s final ordinary 2,016-block window on July 25 with miner support at 0.89%. The proposal requires 1,109 blocks, or 55%, for ordinary lock-in, and its mandatory version-bit phase can begin in August if support stays below that threshold.　　Jameson Lopp has framed Consensus Cleanup, covenants, and quantum preparation as Bitcoins next agenda. He also occupies two sides of that transition: Lopp opposes BIP-110 and co-authored BIP-361, a draft plan for post-quantum migration.　　BIP-110 gives those debates a live governance reference because developers, miners, node operators, exchanges, custodians and holders each supply a different form of consent. The next proposals attach that coordination test to block validation, theft-resistant custody and the ownership status of vulnerable coins.　　Known bugs enter the upgrade queue　　Consensus Cleanup combines four protocol repairs in BIP-54. Antoine Poinsot and Matt Corallo completed the specification in May, and Bitcoin Inquisition has run the rules on its experimental signet since February.　　The package covers the timewarp attack, extreme block-validation costs, a Merkle-tree ambiguity involving 64-byte transactions, and future duplicate-transaction checks.　　The timewarp flaw gives majority hash power a route to drive mining difficulty toward its minimum within 38 days, pulling subsidy forward through faster block production and altering miner incentives.　　A separate weakness is

08-03Industry

The Smarter Web Company adds 11.89 Bitcoin, treasury reaches 2,712 BTC

The Smarter Web Company has increased its Bitcoin treasury by acquiring another 11.89 BTC, taking its total holdings to 2,712 BTC.　　SummaryThe Smarter Web Company has purchased another 11.89 Bitcoin, increasing its treasury to 2,712 BTC.The latest acquisition has moved the UK listed firm to 28th place in the BitcoinTreasuries corporate Bitcoin rankings.The purchase comes weeks after the company repaid its Smarter Convert financing and reported holdings of 2,700 BTC.The company has continued building its Bitcoin reserves under its long term 10 Year Plan.　　According to BitcoinTreasuries.NET, the London-listed company completed the latest purchase of 11.89 Bitcoin, lifting its corporate treasury to 2,712 BTC and moving it to 28th place in the Bitcoin 100 ranking of public companies holding the asset.　　JUST IN: British publicly traded The Smarter Web Company ($SWC) buys an additional 11.89 #Bitcoin and now holds a total of 2,712 BTC.　　????Bitcoin 100 Ranking: 28???? pic.twitter.com/Sk9WgQZgBI　　— BitcoinTreasuries.NET (@BTCtreasuries) August 3, 2026　　The latest acquisition follows the companys decision last month to retire its Smarter Convert financing instrument ahead of schedule, a move that left it holding 2,700 BTC after selling part of its treasury to settle the obligation.　　By adding fresh Bitcoin within weeks, the company has resumed the accumulation strategy it has

08-03Industry

Trade.XYZ rumored to seek $200M equity round at $1.5B valuation

Rumors that Trade.XYZ has been seeking a $200 million equity financing at a $1.5 billion valuation have sparked conflicting views across the crypto community, with supporters calling the report credible while others have dismissed the claim.　　SummaryTrade.XYZ is rumored to be raising $200 million at a $1.5 billion valuation through an equity financing round.Cobie dismissed the fundraising reports, while other crypto community members argued the rumors could be credible.Trade.XYZ has not confirmed the reported financing or announced any plans to raise new capital.The funding speculation surfaced days after Trade.xyz announced reimbursements for users affected by the SK Hynix liquidation incident.Community members have questioned why Trade.XYZ would seek outside investors instead of funding from the Hyperliquid ecosystem.　　According to market chatter circulating on X and Telegram, speculation about the funding round gained traction after several community figures discussed the possibility of Trade.XYZ raising outside capital.　　Source: ProMint on X.　　The reported terms describe a $200 million equity round valuing the company at $1.5 billion, although Trade.XYZ has not publicly confirmed that such a fundraising process is underway.　　Community debate has split over Trade.XYZ funding rumors　　The discussion gathered pace after crypto commentator ProMint said he had heard the fundraising claim from people he knows and had seen

08-03Industry

Coldcard exploit sparks call for independent audits: Kraken CSO

Coldcards five-year seed-generation flaw has renewed calls for independent testing of hardware wallet firmware after suspected attacks have drained nearly $90 million worth of Bitcoin from thousands of wallets.　　Kraken chief security officer Nick Percoco said in a post on X on Sunday that the incident should serve as a warning for the hardware wallet industry, arguing that manufacturers should not be the only parties verifying how wallet seed phrases are generated.　　https://t.co/cIjpnVnMDM　　— Nick Percoco (@c7five) August 2, 2026　　He said production firmware should undergo independent testing to confirm that the approved source of randomness is the one actually used when creating wallet secrets.　　According to Galaxy Researchs latest blockchain analysis, suspected attackers have now swept more than 1,800 BTC from over 5,200 potential victim addresses across four observed attack waves, although the firm has stressed that those figures are on-chain estimates rather than confirmed losses. Coinkite has not verified every affected wallet, and blockchain data alone cannot determine whether a single actor carried out all of the attacks.　　Coldcard flaw escaped review for more than five years　　Coinkite disclosed on Thursday that the vulnerability dates back to March 2021, when the company migrated part of its firmware while integrating a new cryptographic library.　　Instead of using

08-03Industry

Japanese Yen jumps as US-Japan confirm joint intervention, hint further action

The USD/JPY pair tumbles to near 156.45 during the early European trading hours on Monday. The Japanese Yen (JPY) climbs amid speculation that Japanese authorities may have intervened to prop up the currency again after coordinated action between the US and Japan last week.　　Japan‘s Finance Minister Satsuki Katayama said on Monday that Japan and the United States (US) conducted coordinated Yen-buying intervention and will not hesitate to take further action, per Reuters. Katayama confirmed a rare bilateral action to halt the ‌JPY’s slide to fresh 40-year lows.　　Meanwhile, US Treasury Secretary Scott Bessent said that Washington wouldnt hesitate to step into the market again. US President Donald Trump said on Sunday the US was helping Japan prop up the JPY as a sign of friendship and to help the world economy.　　“It seems likely that authorities would intervene further in the coming days if the yen begins to unwind the recent move, as was the case in May of this year,” Goldman Sachs Group Inc. strategists including Kamakshya Trivedi wrote in a note. “We continue to think intervention is an effective tool for authorities to buy some time before fundamental factors turn more positive.”　　Uncertainty in the Middle East remains high despite hopes

08-03Industry

CoinDesk Wins a Polk Award, One of Journalism's Top Prizes, for Explosive FTX Coverage

“This is an important milestone, not only for CoinDesk, but for crypto media generally,” said, CoinDesk‘s chief content officer. “Despite all that Ian and Tracy’s incredible reporting exposed – and the fallout that it triggered – the crypto industry will continue to have a significant impact on the world. Its vital that it be covered with the kind of probing, well-informed, professional journalism embodied by these two reporters and their attentive, dedicated editors.”　　The industry-shaking Nov. 2 story from Allison, a senior reporter, resulted from a source‘s tip that Sam Bankman-Fried’s closely held trading firm, Alameda Research, was on shakier financial footing than was generally known. Allison got to work finding evidence and nailed it by obtaining the companys balance sheet, which was not a public document.　　It showed that a significant portion of Alameda‘s billions of dollars in assets was secretly made up of FTT, a sort of digital Monopoly money issued by Bankman-Fried’s better-known FTX crypto exchange.　　The resulting story raised concerns about the stability of Alameda and FTX, and called into question Bankman-Frieds image as a white knight capable of backstopping struggling companies and as an “adult in the room” in a field notorious for fly-by-night outfits and scammers. The

08-03Industry

Why a DeFi platform ditched its consumer app to become the secret backend for tech giants

SummarySpark shelved its consumer app indefinitely and pivoted to B2B2C, supplying yield to firms like Robinhood rather than competing with them for users.Robinhood Earns $200 million vault runs on Morpho, with Spark as one of three collateral sources. MacPherson calls it proof the infrastructure model works.Revenue fell from $80 million to $20 million in the bear market. OTC lending at $260 million outstanding is the fastest-growing line, targeting $1 billion by year-end.　　The stablecoin market is fragmenting, and onchain capital allocator Spark is betting it can capitalize on the split.　　Fintechs, exchanges and banking groups are increasingly launching their own dollar-linked tokens. Each issuer wants to keep users, reserves and transaction activity inside its own network as competition ramps up.　　The stablecoin landscape “is about to fragment more and more,” Sam MacPherson, CEO of Phoenix Labs, said in an interview with CoinDesk.　　PayPal has PYUSD, Circle has USDC, and Tether has USDT. Robinhood has joined the Global Dollar (USDG) consortium and is building its own chain, while OpenUSD (OUSD) is another large consortium that includes Stripe and Coinbase.　　Beyond these giants, there are hundreds of other stablecoins, including Ethenas USDe, World Liberty Financials USD1 and Skys USDS.　　The result is liquidity scattered across an expanding number

08-03Industry

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