Standard Chartered, a major global bank, has renewed its bold prediction that Bitcoin could hit $500,000 in the long term, citing a growing trend of sovereign-level indirect exposure to Bitcoin—primarily through investments in MicroStrategy (MSTR). “Nation-states may already be gaining Bitcoin exposure indirectly,” said Standard Chartered, as MicroStrategy’s BTC-focused stock becomes a vehicle for sovereign wealth funds and institutions. MicroStrategy: A Proxy for Institutional and Sovereign Bitcoin Exposure MicroStrategy (MSTR), led by executive chairman Michael Saylor, holds over 214,000 BTC and has become a de facto Bitcoin ETF alternative for investors in jurisdictions where direct crypto exposure is limited or…
Author: Blockto Team
Kraken, a top global cryptocurrency exchange, has taken a major step forward in its global strategy by expanding its derivatives trading services into the European Union. This move comes after the acquisition of a Cypriot Investment Firm, granting Kraken a license under MiFID II (Markets in Financial Instruments Directive). This license, approved by the Cyprus Securities and Exchange Commission (CySEC), allows Kraken to offer regulated crypto derivatives across the EU. Strategic Acquisition: Unlocking the European Market To gain access to the European Economic Area (EEA), Kraken acquired the Cypriot firm “Greenfield Capital Partners.” This acquisition provides Kraken with authorization to…
Cryptocurrency has evolved from a fringe innovation into a serious financial asset.Once viewed as a risky playground for tech rebels and speculative traders, digital currencies like Bitcoin and Ethereum are now making their way into conservative portfolios. This shift marks a new era of legitimacy and strategic inclusion in traditional finance. Why Conservative Investors Are Turning to Crypto Institutional adoption of cryptocurrency is accelerating.Top financial institutions and wealth managers are allocating a small percentage of portfolios to crypto assets—typically between 1% to 6%—as a way to diversify and enhance long-term returns. Over 60% of institutional investors now have some level…
Binance, the world’s largest cryptocurrency exchange, has officially requested a Delaware bankruptcy court to dismiss FTX’s $1.76 billion clawback lawsuit. This legal battle highlights the ongoing fallout from the FTX collapse and the complex disputes between major players in the crypto industry. What Is the $1.76 Billion Clawback Lawsuit About? FTX alleges that in 2021, it transferred approximately $1.76 billion worth of cryptocurrency to Binance through a share repurchase agreement. FTX’s legal team claims that these transfers were fraudulent because the exchange was allegedly insolvent at the time. FTX argues that Binance knowingly received these assets and is therefore liable…
Core Scientific Inc. (NASDAQ: CORZ) is positioned to capitalize on the growing demand for AI infrastructure as its partner, CoreWeave, advances a major expansion in Texas. This development is closely tied to a significant contract with OpenAI, which is driving increased need for high-performance computing resources. CoreWeave’s Expansion at Texas Site In early 2025, Core Scientific announced a $1.2 billion expansion at its Denton, Texas facility. This expansion aims to increase the company’s high-performance computing capacity to approximately 590 megawatts across six sites. CoreWeave is utilizing this infrastructure to build one of the largest GPU supercomputers in North America, positioning…
A recent data leak involving Coinbase, one of the world’s leading cryptocurrency exchanges, has raised serious concerns about user safety. The founder of TechCrunch has warned that the breach could potentially expose Coinbase users to physical risks, not just financial threats. This revelation highlights the growing dangers of personal data breaches in the crypto space. What Happened in the Coinbase Data Leak? Coinbase experienced a significant data breach where sensitive user information was exposed. Details such as email addresses, transaction histories, and possibly personal identification data were leaked online. While Coinbase has acknowledged the incident, the full scope and impact…
In a bold policy move, Lee Jae-myung, the frontrunner in South Korea’s upcoming presidential election, has proposed the launch of a Korean won-pegged stablecoin. The Democratic Party candidate believes the digital asset could help protect national wealth, prevent capital outflows, and modernize South Korea’s financial infrastructure. The proposal comes at a time when stablecoins—digital currencies backed by fiat assets—are gaining traction worldwide, particularly in the U.S., where dollar-backed tokens dominate global crypto markets. A Digital Strategy for the Won During a televised forum on May 8, Lee warned that South Korea risks falling behind if it does not adapt quickly…
In a dramatic escalation of one of crypto’s most high-profile bankruptcies, Genesis Global Capital has filed two major lawsuits against its parent company, Digital Currency Group (DCG), and its CEO, Barry Silbert, seeking to claw back more than $3.3 billion in what the firm claims were fraudulent and self-serving transfers. Dual Lawsuits Target Transfers and Misconduct Genesis filed the lawsuits in Delaware Chancery Court and the U.S. Bankruptcy Court for the Southern District of New York, accusing DCG and Silbert of siphoning over $1.2 billion from Genesis during the year leading up to its bankruptcy in January 2023. The filings…
In a bold move reflecting the growing convergence between traditional finance and digital assets, DigiAsia Corp (NASDAQ: FAAS) has announced plans to raise up to $100 million to acquire Bitcoin (BTC) as part of a strategic treasury reserve initiative. The announcement, made on May 19, triggered an immediate market response, with DigiAsia shares surging by over 90% before settling in after-hours trading. Strategic Shift: DigiAsia Bets on Bitcoin DigiAsia, a Jakarta-based fintech firm, aims to become one of the first Southeast Asian publicly traded companies to integrate Bitcoin into its core financial operations. The company revealed that it will allocate…
The cryptocurrency industry is celebrating a major breakthrough as the U.S. Senate advances the GENIUS Act (Guaranteeing Effective National Implementation of Uniform Stablecoins). The legislation, hailed by advocates as a “historic” move, aims to establish a unified regulatory framework for stablecoins — digital tokens pegged to traditional currencies such as the U.S. dollar. The bill’s forward momentum signals growing bipartisan interest in developing clear crypto regulation, especially for the fast-growing stablecoin sector, which has been operating in legal uncertainty for years. What Is the GENIUS Act? The GENIUS Act is designed to regulate the issuance, reserve backing, and compliance requirements…