News & Research

Bitcoin (BTC) slipping below $112,000 may present a favorable buying opportunity, CoinDesk reported. Markus Thielen, head of research at Matrixport, said the $111,673 level, which acted as resistance in May, now serves as support and could be retested ahead of a stronger rally, while a sustained breakout above $120,000 would indicate a trend reversal and call for tighter stop-loss strategies.

The Bank of Korea (BOK) labor union has voiced strong opposition to the introduction of Korean won-pegged stablecoins, according to Yonhap Infomax. On July 28, union leader Kang Young-dae warned that stablecoins are effectively becoming a new form of shadow banking. He said they attract funds without paying interest while falsely presenting themselves as safe assets. He explained that stablecoins are inherently vulnerable to IT-related risks from their issuers. In addition, market, credit and operational risks could prevent reserve assets from fully supporting the value of these tokens. If trust in the issuer is lost, it could trigger a run on the coin. This might lead to a fire sale of government bonds held by the issuer, resulting in consumer losses and posing broader threats to the economy.

The Australian Securities and Investments Commission (ASIC) has issued a public warning against cryptocurrency exchange Bitget, alleging the platform is offering unlicensed crypto futures products to Australian investors without holding an Australian Financial Services (AFS) license, Decrypt reported. In a statement, ASIC said Bitget and its parent company, BTG Technology Holdings, are promoting high-risk derivatives with leverage of up to 125:1, significantly exceeding the 2:1 cap imposed on licensed providers. The regulator warned that users of unlicensed platforms lack essential investor protections, including dispute resolution mechanisms and client fund safeguards. The warning is part of ASIC’s broader initiative to protect retail investors from speculative and unregulated crypto financial products.

Richard Teng, CEO of crypto exchange Binance, took to X to point out how dramatically attitudes toward crypto have shifted. He contrasted the widespread skepticism of 2017, when many called crypto a scam, with the growing institutional embrace unfolding in 2025, noting how the narrative has flipped over time.

Solana co-founder Anatoly Yakovenko criticized memecoins and non-fungible tokens (NFTs) as “digital slop” with no inherent value, comparing them to loot boxes used in free-to-play mobile games, according to Cointelegraph. He acknowledged that memecoins have significantly contributed to Solana’s growth, but argued that, similarly, Apple’s revenue would be much smaller without such mechanics.

The contract deployer address for Pudgy Penguins (PENGU) has transferred approximately 206.9 million PENGU ($8.91 million), to centralized exchanges (CEXs) in the past 24 hours, according to @EmberCN on X, citing data from Arkham. Since July 12, the address has cumulatively moved about 2.09 billion PENGU ($66.6 million) to exchanges.

A whale address that held Chainlink (LINK) for more than a year has deposited 170,000 LINK ($3.23 million) to Kraken within the past six hours, according to @ai_9684xtpa on X, citing data from Arkham. The address accumulated LINK between November 2023 and January 2025 at an average purchase price of $14.46. Based on the current market price of $18.99, the holder could realize a profit of roughly $770,000 if the tokens are sold. On-chain activity indicates the whale has liquidated about 90% of its LINK holdings over the past nine months and now holds just 20,000 LINK.

Digital asset infrastructure firm BitGo has established a Brazilian subsidiary, BitGo Brasil Tecnologia, to expand its presence in Latin America and align with the country’s evolving cryptocurrency regulations, Crowdfund Insider reported. The company cited ongoing policy discussions that could require the local management of cryptographic keys as a key factor in the decision. Through its localized operations, BitGo plans to provide regulatory-compliant custody and digital treasury services to banks, brokerages and asset managers.

A newly created wallet received an additional 13,696 ETH ($49.97 million) from crypto financial firm Galaxy Digital, according to on-chain analytics platform Onchain Lens on X. The wallet now holds a total of 100,972 ETH ($375.74 million).

U.S.-based digital marketing and iGaming company SharpLink Gaming received $145 million worth of USDC from the issuer Circle’s wallet approximately 30 minutes ago, according to on-chain analyst @EmberCN on X. The funds were reportedly raised through stock sales and may be intended for additional purchases of Ethereum (ETH). SharpLink currently holds approximately 360,900 ETH, valued at about $1.34 billion.