加密货币交易所 · 7667

Coinbase selects Abu Dhabi as international tokenization hub

According to Twitter, cryptocurrency exchange Coinbase has reportedly selected Abu Dhabi, UAE as its “international tokenization center” with the aim of introducing more traditional financial assets to the blockchain. The move is seen as a significant step forward for Abu Dhabi in attracting global crypto and fintech firms. Coinbase plans to promote real-world asset (RWA) tokenization business through the center and expand its presence in the Middle East and international markets with Abu Dhabi's regulatory environment and policy support. Abu Dhabi has continued to improve its digital asset regulatory framework in recent years, attracting many crypto institutions to settle in.

2d ago

Visa is seeking a new stablecoin settlement partner to replace BVNK, which was acquired by Mastercard

Comparatively, according to CoinDesk, Visa is looking for new stablecoin settlement and OTC trading partners to replace BVNK, which was previously acquired by Mastercard. According to the relevant product request documents, Visa hopes that the partner has cryptocurrency exchange licenses in the US, Canada, the United Kingdom and Singapore, and can support various stablecoin exchange and settlement services, including processing the settlement of the Open USD stablecoin project promoted by Stripe, Visa, and Mastercard. Previously, Visa had launched the Visa stablecoin platform to provide banks, fintech companies, and payment service providers with stablecoin access, storage, redemption, and transfer tools, with initial support for OUSD. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

4d agoburnking

Half a year has passed, are second-tier US crypto exchanges doing well?

Source: Foresight News Author: Eric Original title: Half a year has passed, how are second-tier crypto exchanges in the US doing? Halfway through 2026, the crypto market didn't experience the rebound that many were looking forward to. Bitcoin fell by more than 30% in the first half of the year. At one point, it fell below $60,000, and the industry's spot trading volume shrank by more than 20% for two consecutive quarters. The much-anticipated CLARITY Act has run aground in the Senate, and expectations of regulatory loosening have also been delayed. Coinbase portrayed this chill with a report card that lost more than $750 million in half a year. As the leading cryptocurrency exchange in the US, this is still the case, and second-tier exchanges are having an even worse time. According to recently disclosed financial reports for the second quarter, although some second-tier exchanges have achieved performance growth, their market share continues to be compressed. Gemini, who relied on blood transfusions from the founder to prolong their lives, let's talk about the worst family. Gemini's total revenue for the second quarter was $45.5 million, up 37% year over year, but exchange revenue fell 38% year over year, leaving only $12.5 million. Spot trading volume shrank 66% from $113 billion in the same period last year to $3.8 billion. Revenue growth was supported by side businesses such as credit cards, collateral, and OTC. Of these, credit card revenue was $16.2 million, up 231% year over year. Gemini had a net loss of US$107.7 million in the second quarter, with a cumulative loss of US$217 million in the first half of the year. The platform's assets fell to $8.4 billion from $182 billion a year ago. What is even more troubling is that the credit card business has taken a leap forward. The identity fraud incident discovered in the first quarter continued to ferment in the second quarter, and a transaction loss reserve of 2010 million US dollars was calculated in a single quarter. The contraction came fast and severe. On February 5, Gemini announced its withdrawal from the UK, EU, and Australian markets, which is tantamount to abandoning the overseas territory it has operated for many years. Employees were cut 40% from the high in the third quarter of 2025, leaving only 402 people at the end of the quarter, and marketing expenses were cut 45% year over year. In May, the Winklevoss brothers paid out of their own pockets to inject $100 million into the company at a price of $14 per share through their fund. The founder's premium increase sounds like a vote of confidence, but the market's signal is that the company is no longer able to finance itself externally. This life-saving money paid in bitcoins was then hit by a drop in currency prices, and an impairment was added to the book, directly dragging the adjusted EBITDA for the second quarter to negative 74 million US dollars, which is worse than the first quarter. Stock prices are the most honest voting instrument. Gemini was listed at $28 in September last year, reaching a high of $45.89 on the first day. Today, it has fallen from a high point of more than 88%, or 56% during the year. Citi cut its target price to $4 in April to maintain its sales rating. Bullish, the situation of Bullish being kidnapped by Bitcoin is a bit more complicated. In addition to the exchange, the company also has CoinDesk media, index licensing, and the Consensus Conference, and has a relatively diverse revenue structure. Bullish's second-quarter adjusted revenue was $92.6 million, up 62% year over year. Among them, subscription and service revenue hit a record of $62.7 million. Morgan Stanley and Grayscale all used the CoinDesk index to distribute products. Adjusted net profit for the second quarter was US$14.3 million, reversing losses year over year. Looking at these numbers alone, Bullish seems like the most decent one in the second tier. But the IFRS-caliber report tells a different story. The net loss for the second quarter was US$280 million, mainly due to Bitcoin held in the company's treasury, which recorded a fair value impairment of US$245 million in the second quarter alone. Digital asset sales fell 44% year over year, indicating that the institutional trading business is also shrinking. CEO Tom Farley's answer was to completely change the track. In May, Bullish announced the acquisition of securities registration and transfer agent Equiniti at the Consensus Miami conference. The transaction scale is about 4.2 billion US dollars. It is expected to be completed in early 2027. The goal is to complete the entire chain of tokenized securities from issuance and listing to trading and tracking. On August 12, the company launched its own tokenized stock exchange, which was also approved by the Gibraltar regulator. The story is a popular one, but the capital market isn't buying it right now. Bullish went public with a $37 IPO in August last year, closing at $70 on the first day...

4d agoForesight News#Exchanges

Brazilian police crack down on money laundering gangs using crypto exchanges and have frozen crypto exchanges and bank accounts

According to Livecoins, Brazil's Rondônia Joint Force Against Organized Crime (FICCO/RO) executed an arrest and search warrant against a gang suspected of electronic fraud and money laundering. The criminal gang is suspected of using cryptocurrency exchanges to hide illegal funds transferred from the original victim's account. One case investigated in 2025 lost approximately $5.74 million. The court has issued 8 preventive arrest warrants and 18 search warrants, and authorized the freezing of assets related to crypto exchanges and bank accounts. In addition to targeting securities accounts, the law also makes it mandatory to seize cars and boats of persons under investigation.

6d ago

Robinhood's second venture capital fund, RVII, hits NYSE to raise $225 million

Comparatively, according to Reuters, Robinhood's second venture capital fund, Robinhood Ventures Fund II (RVII), is listed on the New York Stock Exchange, allowing ordinary investors to participate in investing in unlisted startups. RVII opened at $22.5 on the New York Stock Exchange and raised approximately $225 million. The second fund will focus on current and former participants in the Y Combinator startup accelerator project, which has funded more than 5,000 companies since 2005, including 100 “unicorn” companies. Y Combinator's notable investments include cryptocurrency exchange Coinbase, social media platform Reddit, and ChatGPT developer OpenAI.

7d ago#financing

Bybit Sues North Korean Hackers! In the $1.5 billion theft case, over 90% of the funds are difficult to recover

Source: Foresight News Author: Nicky Original title: Bybit sued the North Korean hacker group in the US court. Ninety percent of the funds may be difficult to recover. When approving the preliminary temporary restraining order, the court found that Bybit essentially “has a chance of winning the case.” On August 8, according to CoinDesk, Bybit has filed a civil lawsuit with the U.S. District Court for the District of Columbia against the Democratic People's Republic of Korea, its General Investigation Bureau, and Lazarus Group, which is identified as a North Korean-linked hacker organization. The group stole around $1.5 billion in crypto assets from Bybit in February 2025, one of the largest cryptocurrency thefts in history. In granting the preliminary interim restraining order, the court found that Bybit “had a chance of winning” the case in substance. In addition to filing a lawsuit, Bybit also successfully obtained an initial injunction to freeze some of the stolen assets held by a group of unidentified individuals and entities, and the defendants were listed as “John Doe” in the case. The ban requires the parties concerned not to transfer or sell the assets they hold in the case during the trial of the case. Bybit said it will continue to seek further redress from the courts and emphasized that the civil lawsuit is independent of ongoing criminal investigations by US law enforcement. On February 21, 2025, Lazarus Group manipulated the transaction interface when transferring funds from the Bybit cold wallet to the hot wallet by hacking the supply chain of the Safe multi-signature wallet, successfully controlling the multi-signature process, and transferred approximately 401,347 ETH, 90,375 stETH, 15,000 cMetH, and 8,000 metH to the hacker address, with a total value of about $1.46 billion at the time. The amount of stolen ETH accounted for about 0.42% of the total supply of Ethereum. At the time, the hacker once became the 14th largest holder of ETH in the world, surpassing Fidelity and Vitalik Buterin, the co-founder of Ethereum. The hackers' money laundering operations began quickly after the attack occurred. According to Spot On Chain monitoring, about 266,309 ETH were laundered within a week after the attack, accounting for 53.3% of the total amount stolen. It was mainly exchanged for BTC through THORChain, and an average of 48,420 ETH was laundered daily. In early March 2025, on-chain analyst Ember Tracking showed that the entire cleaning process took about 10 days, during which time the price of ETH fell by about 23%, and about 90.2% of the stolen funds had become untraceable. Hackers mainly used THORChain to launder money, and the platform received approximately $5.9 billion in transaction volume and approximately $5.5 million in commission revenue as a result. Up to now, Bybit, in collaboration with blockchain analysis companies, various exchanges and international law enforcement agencies, has recovered about 48.4 million US dollars of stolen assets and frozen about 30.5 million US dollars of assets involved in the case from more than 28 exchanges and custodians, totaling about 78.9 million US dollars, accounting for only about 5% of the total stolen assets. The Federal Bureau of Investigation confirmed the Lazarus Group as the perpetrator of the attack. Law enforcement agencies from many countries cooperated to carry out follow-up crackdowns. The German authorities destroyed the cryptocurrency exchange ExCH involved in the case, and the German and Swiss authorities jointly shut down the coin mixing platform CryptoMixer.io. Although law enforcement collaboration has achieved certain results, the vast majority of stolen funds have been removed from the scope of tracking through cross-chain bridges, coin mixers, and OTC transaction channels. The ban in the lawsuit documents is only effective for identifiable on-chain assets, and funds flowing into the hands of entities or individuals that have not cooperated with the administration of justice after coin mixing and cross-chain transformation are extremely difficult to recover. At the time of the theft, the price of ETH was about 2,730 US dollars. Currently, it is about $1920, a decrease of about 30%. Even if some assets are positioned in the future, their actual value has shrunk drastically. Source: SotameDialAzarus Group is a cyber threat actor cluster supported by the North Korean government. It belongs to the General Administration of Reconnaissance, and includes multiple subclusters such as UNC4736 (i.e. AppleJeus/Citrine Sleet) and TraderTraitor. According to Chainalysis statistics, North Korean hackers have cumulatively stolen cryptocurrencies through clusters such as Lazarus...

11d ago22#cryptocurrency theft #North Korean Hackers

Bybit sues North Korea, its General Investigation Agency, Lazarus Group, and court approves freezing of identified stolen assets

According to the news, cryptocurrency exchange Bybit has filed a civil lawsuit with the US District Court for the District of Columbia, suing North Korea, the General Investigation Bureau of North Korea, and the hacker organization Lazarus Group. The case involved the theft of about 1.5 billion US dollars in February 2025. Bybit said the judge has approved a preliminary injunction prohibiting the transfer or disposal of identified stolen assets during the trial of the case, and believes that Bybit is more likely to win the case on the physical issue. The lawsuit also listed unknown individuals and entities holding or transferring related funds as John Doe as defendants. Bybit revealed that approximately US$48.4 million has been recovered, and approximately US$30.5 million has been frozen at more than 28 exchanges and custodians. Together, the two account for about 5% of the stolen amount. The attackers transferred about 500,000 ETH from the Bybit cold wallet in February 2025, and most of the funds were then exchanged for bitcoins via Thorchain and transferred through the coin mixing service. Bybit said the case is progressing in parallel with the criminal investigation.

12d ago

News: BitMEX's quest to sell failed, or the founder's holding structure and business contraction discouraged buyers

In comparison, according to CoinDesk, quoting people familiar with the matter, cryptocurrency exchange BitMEX spent two years discussing sales with several potential buyers, including rival exchanges and payment platform Exodus, before announcing the shutdown of operations, but ultimately failed to reach a deal. According to people familiar with the matter, potential acquirers were mainly deterred by the company's founder's holding structure, continued shrinking business, and legacy reputation issues. According to reports, the company hired investment bank Broadhaven to operate the sale process in early 2025. People familiar with the matter said that although co-founders Arthur Hayes, Ben Delo, and Samuel Reed had already withdrawn from the business after being criminally charged by the US in 2020, the three still controlled the vast majority of the company's shares, making negotiations more difficult, as buyers usually wanted to use part of the purchase consideration in exchange for management to stay in office after the transaction was completed. Furthermore, during the sale process, BitMEX continued to lose market share due to trading activity flowing to larger centralized exchanges and decentralized perpetual contract platforms, making potential acquirers unwilling to pay the revenue multiples usually given to growing companies.

14d ago

[Comparative Daily News Picks] OpenAI suspends development of the new model Astra, fearing that it has key cyber attack capabilities; SemiAnalysis sings down Google DeepMind: It's no longer a cutting-edge AI lab; J.P. Morgan raised its technology bond issuance forecast, and this year's debt issuance scale will exceed 500 billion US dollars; the non-agricultural explosion has intensified differences on Wall Street, and the market's eyes are on next week's CPI

Daily AI · Encryption · Macro · Market News, Bitpush helps you focus ↓ AI · News [OpenAI suspends development of the new model Astra, worried that it has critical cyber attack capabilities]. According to Axios, OpenAI said that it cannot be ruled out that its upcoming model Astra has “critical” network capabilities, which prompted OpenAI to expand the scope of security testing and suspend internal activities that do not meet stricter security requirements. This is the latest sign of a rapid increase in the network capabilities of artificial intelligence models. OpenAI said that after an internal evaluation of Astra, one of the upcoming models, “we cannot rule out that it has critical networking capabilities.” Prior to the release of Astra, OpenAI will expand testing and security measures for the model and slow down Astra's development process until appropriate security measures are in place in accordance with the requirements of the “Preparation Framework” that the company first published in 2023. OpenAI also stated that Astra did not participate in the Hugging Face vulnerability attack. This is probably the first case where a cutting-edge artificial intelligence lab promised to slow down its AI model development process due to cybersecurity concerns. [SemiAnalysis sings down Google DeepMind: Not a cutting-edge AI lab anymore] Comparing news, the latest SemiAnalysis report directly determined that Google DeepMind is no longer the most cutting-edge AI laboratory, and the probability of doing SOTA again in the future has dropped to zero. It believes DeepMind is losing top talent and computing power at the same time. Jeff Dean, Sanjay Ghemawat, Quoc Le, and Oriol Vinyals recently left Google to start their own business. Previously, Gemini co-leader Noam Shazeer switched to OpenAI, and Nobel Prize winner John Jumper joined Anthropic. Computing power is also being sold in large quantities to competitors. SemiAnalysis estimates that from the third quarter of 2026 to the fourth quarter of 2027, more than 20% of TPU shipments will be sold directly to Anthropic, which is equivalent to locking large amounts of scarce computing power to Gemini's rivals for a long time. SemiAnalysis ultimately attributed the problem to Google's bureaucratic, slow, and strategically conservative organizational culture. It even compared today's Google to IBM and Intel: the technical ability is still strong, and it can make more money. It's just the hardest and riskiest technology competition, which is probably no longer the company's number one priority. [Cambrian: Net profit of 2,311 billion yuan in the first half of the year, up 123% year on year] In comparison, artificial intelligence (AI) chip company Cambrian issued an announcement stating that revenue for the first half of 2026 was 5.996 billion yuan, an increase of 108.13% year on year. Net profit attributable to shareholders of listed companies was 2,311 billion yuan, an increase of 122.61% year-on-year, and net profit of 1,038 billion yuan for the same period last year. After deducting non-net profit of 2.116 billion yuan, a year-on-year increase of 137.30%. Crypto · Market [J.P. Morgan raised its technology bond issuance forecast, and this year's bond issuance scale will exceed 500 billion US dollars]. Comparing news, J.P. Morgan predicts that the scale of technology-related corporate bonds will be issued more than 500 billion US dollars this year. The bank raised the 2026 technology, media, and telecom sector debt issuance forecast from US$450 billion to US$540 billion, on the grounds that increased spending by large technology companies is leading the AI investment cycle. A team led by J.P. Morgan strategist Erica Spear reported on Friday that chip-backed financing will become the “next major frontier field” to support AI infrastructure construction, and that by the end of this decade, its scale may “expand to trillions of dollars.” J.P. Morgan has identified seven investment-grade data center funding opportunities in addition to the six projects currently funded, four of which are expected to come from Oracle and OpenAI. The bank expects Meta Platforms to return to the bond market after announcing its third-quarter earnings report, while Microsoft is seen as the “biggest uncertain factor” and may be financing bond investors for the first time since 2017. [Bybit sued North Korea and Lazarus Group for $1.5 billion hacker attack and obtained an asset freeze order] Comparing news, cryptocurrency exchange Bybit has attacked North Korea...

15d agoWendy#Compare Daily Picks

Bybit sues North Korea and Lazarus Group over $1.5 billion hacker attack and gets asset freeze

According to the news, cryptocurrency exchange Bybit has filed a civil lawsuit against the Democratic People's Republic of Korea, its intelligence agency Reconnaissance General Bureau (RGB), and the nationally sanctioned hacker group Lazarus Group, involving a $1.5 billion hacking incident. The US federal court issued a preliminary injunction prohibiting the transfer or dissipation of identified assets relating to the case during the proceedings.

15d ago#On-chain dynamics