Market Overview - What Happened in the Last 24 Hours?
Global crypto market cap: $3.77 T, up 4.5% in the last 24 h. Daily trading volume: $223 B.
Bitcoin News
🔸Darknet giant Abacus Market vanishes in suspected exit scam
Abacus, which accounted for 70% of Bitcoin transactions in Western darknet markets, suddenly shut down, allegedly absconding with user funds ($300–400 M in BTC/XMR escrow) after law enforcement pressure and a flood of Archetyp refugees sparked withdrawal issues.
🔸Bitcoin surges toward $135K ahead of pullback
Analysts warn BTC may be entering a short-term corrective phase soon, but the current upswing is fueled by robust demand amid macroeconomic uncertainty.
🔸Mara Holdings expands BTC yield strategy with Two Prime stake
Mara Holdings fortified its Bitcoin yield operations by acquiring a significant equity stake in Two Prime, a leading crypto investment manager, to boost on-chain returns.
🔸‘Bitcoin bear’ Vanguard becomes largest Strategy shareholder
Vanguard, often bearish on crypto, has emerged as the top institutional owner of Strategy stock—highlighting growing mainstream exposure to Bitcoin, even from cautious traditional players.
CEXs and DEXs News
🔸Coinbase sued by Oregon governor over public record violations
Oregon’s governor filed a lawsuit accusing Coinbase of withholding critical public records, underscoring rising regulatory scrutiny even in states with crypto-friendly profiles.
🔸Kraken launches US-regulated crypto derivatives via NinjaTrader
After its $1.5 B acquisition of NinjaTrader, Kraken rolled out Kraken Derivatives US—offering CME-listed crypto futures in select states, expanding its multi-asset platform.
Legal and Regulatory News
🔸FDIC warns banks on crypto custodial risks
The FDIC issued fresh guidance cautioning that U.S. banks face significant risks when offering crypto custody services without robust internal controls and compliance frameworks.
🔸Congress revisits crypto bill amid bipartisan debate
Lawmakers reopened intense negotiations on a spectrum of crypto regulation proposals, indicating both strong support and consistent pushback from industry and consumer advocates.
🔸Hungary sentences individuals to 2 years for unauthorized crypto trading
In a landmark case, Hungary jailed operators of an illicit crypto platform for two years, citing rampant exploitation of retail investors.
🔸Ripple confirms intent to pursue MiCA license
Ripple formally notified EU regulators of its plans to obtain a MiCA-compliant license, paving the way for supervised expansion in European markets.
🔸US Dept. of Justice ends Polymarket probe
The DOJ closed its inquiry into decentralized prediction market Polymarket, signaling increased legal clarity around DeFi platforms.
Blockchain and Stablecoin News
🔸Solana-based tokenized assets triple in 2025
The supply of tokenized real-world assets on Solana has surged over three-fold this year, driven by institutional interest and innovative use cases.
🔸Standard Chartered to support BTC & ETH trading for institutions
The bank announced plans to enable institutional clients to trade Bitcoin and Ethereum directly, marking a significant step toward mainstream adoption.
🔸Telegram’s TON Alliance Chain (TAC) mainnet goes live
TON introduces EVM-compatible dApps on its newly launched TAC mainnet, merging Telegram’s messaging network with broader decentralized utility.
🔸BlackRock crypto ETF inflows slump in Q2
Major institutional funds from BlackRock and others recorded their lowest crypto inflows this quarter, signaling possible rotation into other asset types.
🔸California Blockchain Task Force begins pilot projects
A new state task force unveiled initiatives with Ripple and Coinbase to pilot blockchain-based voting and identity systems in public agencies.
