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…
Author: Blockto Team
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…
Bitcoin (BTC) rallied sharply during the European afternoon session, breaking through the $107,000 level after consolidating below $106,000 earlier in the day. The sudden bullish move coincided with renewed US-China trade talks in London, sparking optimism across financial markets, including cryptocurrencies. Short Liquidations Accelerate Price Climb The surge was amplified by over $60 million in short liquidations within four hours, forcing sellers to buy back positions and further fueling momentum. This wave of liquidations followed a series of high-leverage positions getting wiped out, indicating that market sentiment has shifted bullishly in the short term. Bitcoin’s price rally triggered a cascade…
Solana (SOL) has demonstrated resilience amid global economic uncertainty, maintaining support above $152 following a rebound from recent lows. The price action reflects cautious optimism tied to renewed US-China trade negotiations, currently taking place in London. SOL Rebounds with Higher Lows Solana’s price rose from $148.08 to $155.24, marking a 4.83% intraday range, before settling near $152.16. This movement formed a sequence of higher lows, suggesting underlying bullish momentum despite the ongoing volatility in the broader market. A strong uptrend channel was established between 09:00 and 21:00 UTC on June 8, indicating consistent buyer interest during periods of increased volume.…
Ethereum (ETH) exchange-traded products (ETPs) attracted $296 million in inflows last week, marking the strongest weekly performance since the 2024 U.S. presidential election. This surge in capital came despite a broader market slowdown, driven by investor uncertainty ahead of the U.S. Federal Reserve’s June interest rate decision. Ethereum Leads Crypto Fund Inflows Ethereum-based investment products led all crypto assets in institutional demand, making up over 10.5% of total assets under management (AUM) for digital asset ETPs. This was the seventh consecutive week of inflows into ETH funds, signaling a notable shift in investor sentiment. $296 million in a single week…
Pi Network’s native token, PI, has come under pressure in recent weeks, raising concerns over its price stability. With a 20% drop in just two weeks and looming token unlocks, several indicators suggest the token may face even more challenges ahead. 1. Massive Token Unlocks Increase Selling Pressure Over the next 30 days, more than 335 million PI tokens are scheduled to be unlocked, with June 18 and July 6 expected to be the biggest release days. On each of these days, over 15.5 million tokens will become available for circulation. This influx of unlocked tokens could drive increased selling…
Malaysia is on the verge of becoming a crypto mining giant — but it’s got a big problem: illegal mining is exploding, and it’s costing the country a fortune. According to a new report by the Access Blockchain Association of Malaysia, the nation’s crypto mining market could more than double from $2.44 billion to $5.13 billion by 2025. But without clear regulations and proper licensing, rampant electricity theft and legal uncertainty may keep that growth underground. Electricity Theft: The Hidden Drain Between 2020 and September 2024, state energy provider Tenaga Nasional Berhad (TNB) lost over $104 million due to electricity…
Bitcoin Price Recovery After Market Jitters Bitcoin has stabilized above the $105,000 mark following a volatile week. The cryptocurrency had dropped to around $100,500 due to the public fallout between U.S. President Donald Trump and Elon Musk, but it has since rebounded over the weekend. Bitcoin is currently trading around $105,500 as of late Sunday night, showing signs of strength in the short term. However, analysts caution that the market remains unstable and could shift direction quickly. Uncertain Market Structure Despite Support While the recovery above $105K is seen as a positive technical sign, analysts warn that the market structure…
Europe’s First Bitcoin Treasury Company Accelerates BTC Holdings Paris-based crypto firm The Blockchain Group has announced plans to raise over $340 million (€300 million) to significantly increase its Bitcoin (BTC) treasury reserves, solidifying its position as a pioneer in institutional BTC adoption in Europe. The announcement, made on June 10, outlines a structured fundraising plan modeled after U.S.-style “At the Market” (ATM) offerings, where shares are sold at market-driven conditions. BTC Holdings Reach $154 Million Ahead of Massive Raise As of early June, The Blockchain Group holds 1,471 Bitcoin, valued at over $154 million. The latest acquisition of $68 million…
Nasdaq Files to Broaden Crypto Index Exposure In a major development for the crypto investment landscape, Nasdaq has filed a proposal with the U.S. Securities and Exchange Commission (SEC) to expand the benchmark of its Hashdex Nasdaq Crypto Index US ETF (NCIQ). The filing, submitted on June 2, aims to replace the ETF’s current two-asset benchmark — limited to Bitcoin (BTC) and Ethereum (ETH) — with the broader Nasdaq Crypto Index (NCI). If approved, the ETF could include XRP, Solana (SOL), Cardano (ADA), Stellar (XLM), Chainlink (LINK), Litecoin (LTC), and Uniswap (UNI) alongside BTC and ETH. This shift would mark…