News & Research

The U.S. government is seeking to forfeit $7.1 million in cryptocurrency linked to a suspected oil and gas investment fraud scheme, following a December 2024 seizure by the Department of Homeland Security, Cointelegraph reported. The U.S. Attorney’s Office for the Western District of Washington said in a July 22 press release that it had filed a civil action to recover part of the $97 million allegedly collected through the scheme, which is believed to have operated from June 2022 to July 2024.

XRP could reach $13 within the next 42 days, according to Tony Severino, a Chartered Market Technician, as reported by The Crypto Basic. Severino said XRP has entered an early bullish phase and may mirror its 2018 rally. He highlighted a large symmetrical triangle pattern on the XRP/USD weekly chart that developed over the past seven years, beginning after XRP fell from $3.80 in January 2018. The token broke above the upper boundary of this triangle when it surpassed the $1 to $2 range in November 2024. After encountering resistance at $3.40 in January 2025, a smaller symmetrical triangle or bull pennant formed over the next six months. XRP recently broke out of that pattern with a move above $3.60. If the current momentum continues, Severino believes XRP could climb to $13.

SEALSQ, a cybersecurity firm listed on Nasdaq, is launching a $30 million cryptocurrency treasury fund to support its post-quantum cryptography and blockchain initiatives, according to a GlobeNewswire press release. The fund will invest in BTC, ETH, HBAR and SEALSQ-affiliated tokens QAIT and WeCan.

In a recent post on X, @historian_ftx, believed to be an FTX creditor, outlined key updates from the latest FTX bankruptcy hearing, signaling improved prospects for users in restricted jurisdictions. According to the post, the updated motion is expected to scale back or remove the clause allowing for immediate forfeiture of claims based on jurisdiction. Creditors in affected regions, such as China or possibly Russia, may now be permitted to relocate to non-restricted jurisdictions like Singapore or the United Arab Emirates (UAE) and still receive distributions. This clarifies that jurisdiction is not locked at the time of a snapshot or claim filing but can be updated before distribution, potentially aiding users who completed know-your-customer (KYC) requirements in restricted countries but reside elsewhere. This development follows a July 2 court filing in the FTX bankruptcy case that listed 49 countries and regions where users may be excluded from compensation.

Institutional strategic holdings of Ethereum (ETH) have surpassed $7 billion, reaching 1.87 million ETH, according to Strategic Ethereum Reserve. This represents approximately 1.55% of the total ETH supply.

South Korean credit card issuer Lotte Card has filed a total of 36 trademark applications related to won-based stablecoins, according to Yonhap Infomax. The company said that it registered both brand-name trademarks in Hangul and ticker-style trademarks. Data from the Korean Intellectual Property Rights Information Service (KIPRIS) shows that Lotte Card applied for 12 brand-name trademarks and 24 ticker trademarks, including "WONBIT," "KTOKEN" and "LOCAMONEY."

A man in his 50s has been sentenced to five years in prison for stabbing the CEO of a crypto firm during a court hearing, with a South Korean appellate court upholding the original verdict, Yonhap News reported. The Seoul High Court handed down the same sentence as the initial ruling. The man, identified as Kang, was found guilty of attacking Lee, the CEO of crypto deposit service provider Haru Invest, during a hearing at the Seoul Southern District Court on Aug. 28, 2024. Kang stabbed Lee in the neck with a weapon while attending the trial as an observer. Lee was on trial for allegedly embezzling 1.4 trillion won ($1.02 billion) worth of digital assets.

A newly identified whale address has withdrawn 33,644 ETH ($125.73 million) from FalconX, according to Onchain Lens on X. The address now holds 105,977 ETH, valued at approximately $396 million. Deposits to exchanges are generally seen as an indication of intent to sell, while withdrawals often signal a holding strategy. However, not all deposits to exchanges necessarily result in sales.

South Korean crypto exchange Bithumb announced on its website that it has been designated by the Korea Fair Trade Commission as part of the country’s 2025 list of large corporations. Bithumb ranked 90th on the list.

An Ethereum ICO participant has ended a four-year dormancy by depositing 800 ETH ($2.96 million) into Kraken, according to Onchain Lens on X. The address initially received 8,950 ETH during the ICO and still holds 1,780 ETH ($6.66 million), with total realized profits of $13.36 million to date.