Digital asset investment products recorded $224 million in total inflows last week, maintaining a positive trend despite economic and regulatory uncertainty. The spotlight, however, shifted to Ethereum, which led all cryptocurrencies with its strongest inflows since 2020, while Bitcoin experienced a second consecutive week of outflows. Ethereum Leads With $295.4M Inflows Amid Institutional Surge Ethereum saw $295.4 million in inflows, its seventh consecutive week of gains, reinforcing its position as the most favored altcoin among institutions. This surge also elevated Ethereum’s share to 10.5% of the total assets under management (AuM) in crypto investment products. Ethereum ETFs received $815 million…
Author: Blockto Team
The Cosmos (ATOM) token displayed notable price volatility over the past 24 hours, facing rejection at a key resistance level but showing signs of strength with a 1.4% recovery on the hourly chart. Despite a failed breakout attempt, market sentiment remains cautiously optimistic as institutional interest and ecosystem upgrades lend support. Price Action: Rejection Followed by Short-Term Bounce ATOM ranged 2.76% in 24 hours, peaking at $4.327 before retracing to trade around $4.29. The price attempted a breakout late on June 8 but was rejected at the resistance level, leading to a brief consolidation near $4.233. Support emerged around $4.21,…
Australian authorities have exposed a massive $123 million cryptocurrency laundering scheme operating under the guise of a legitimate cash-in-transit security company. Following an 18-month investigation, four individuals have been charged in connection with one of the country’s largest crypto crime crackdowns. Operation Details: Crypto Hidden in Plain Sight The investigation, led by the Queensland Joint Organized Crime Taskforce (QJOCT), began in December 2023 and involved 70 officers from federal and state agencies. Authorities traced suspicious financial activity through an armored vehicle business that allegedly blended criminal proceeds with clean revenue from legitimate operations. Approximately $13.6 million in suspected criminal assets…
Tether, the issuer of the world’s largest stablecoin, has no plans to go public, even amid rising speculation about its valuation reaching $515 billion, according to CEO Paolo Ardoino. A Half-Trillion Dollar Valuation? The speculation began after Artemis CEO Jon Ma estimated Tether’s company valuation at around $515 billion, a figure that would rank it as the 19th largest company globally, surpassing giants like Costco and Coca-Cola. In response, Ardoino posted on X: “Tether valuation at $515 billion is a beautiful number. Maybe a bit bearish considering our current (and increasing) Bitcoin + Gold treasury, yet I’m very humbled.” “Also…
Turnkey, a crypto infrastructure startup founded by former Coinbase employees, has secured $30 million in Series B funding to expand its engineering team and scale operations. The round was led by Bain Capital Crypto, with participation from Sequoia Capital, Lightspeed Faction, Galaxy Ventures, Wintermute Ventures, and Variant. Turnkey has now raised over $50 million in total funding since its founding in 2022. Aiming to Redefine Crypto Wallet Infrastructure Based in New York, Turnkey is building an open infrastructure layer for crypto applications, enabling developers to launch stablecoin payment systems, DeFi terminals, and onchain AI agents with ease. The platform offers…
Crypto wallet infrastructure startup Turnkey has secured $30 million in Series B funding, signaling growing investor confidence in developer-first blockchain tools. The round was led by Bain Capital Crypto, with notable participation from Lightspeed Faction and Galaxy Ventures. Coinbase Alumni Lead Wallet Infrastructure Innovation Founded by former Coinbase employees Bryce Ferguson and Jack Kearney, Turnkey is focused on building a modern crypto wallet infrastructure that enables developers to integrate user-friendly wallets into their applications via APIs. “We’re moving from clunky systems to high-throughput, machine-based transactions,” Ferguson explained in an interview with Fortune. With crypto increasingly embedded in mainstream finance and…
Shiba Inu (SHIB), the popular meme-based cryptocurrency, remains in a downward trend despite showing some signs of recovery. The sharp drop in SHIB’s daily burn rate by 63% poses a serious challenge to the token’s long-term deflationary goals. Daily Burn Rate Drops Significantly The daily burn rate, a key component of Shiba Inu’s deflationary strategy, has dropped by 63% over the last 24 hours. Token burns permanently remove coins from circulation, reducing overall supply and theoretically increasing scarcity. This significant decline in burn activity threatens to derail SHIB’s deflationary trajectory, which has been central to its investor appeal. At the…
Ethereum (ETH) is showing signs of renewed strength as spot ETF inflows hit a 15-day streak, with price action now targeting the critical $2,540 resistance level. Institutional Confidence Returns with $295M Inflows Over the past week, ETH investment products recorded $295 million in inflows, the highest among all digital assets tracked. According to the latest data, this boosts Ethereum’s total assets under management (AUM) to $14.09 billion and brings its month-to-date net inflows to $296 million. This marks the longest uninterrupted streak of net ETH inflows since late 2023, signaling a strong vote of confidence from institutional investors. ETH Price…
Kaia, a Kakao-backed layer-1 blockchain, has announced its intention to launch a South Korean won-pegged stablecoin, aligning with the crypto-friendly policies of newly inaugurated President Lee Jae-myung. The pledge marks a bold move into stablecoin territory as investor confidence surges across Korean payment and fintech stocks. Crypto-Friendly Leadership Fuels Innovation President Lee Jae-myung, known for his progressive stance on digital assets, campaigned on promises to promote blockchain innovation and support private-sector stablecoins. His administration is backed by the Democratic Party’s Digital Asset Committee, led by lawmaker Min Byoung-dug, who is drafting the Digital Asset Basic Act. This landmark legislation aims…
Cetus Protocol, a decentralized exchange (DEX) built on the Sui blockchain, is officially back online following a 17-day outage caused by a $223 million exploit. The platform has restored liquidity pools to between 85% and 99% of their original levels and is pursuing legal action against the attacker. $162M Recovered, Sui Offers Loan Support After the breach, Cetus managed to recover $162 million of the stolen assets. The attacker exploited a vulnerability in the shared math library contract, manipulating token valuation and extracting massive liquidity. Cetus attempted to contact the attacker for a resolution, but the individual began laundering funds…