News & Research

The UK-based Standard Chartered (SC) has begun offering spot trading services for Bitcoin (BTC) and Ethereum (ETH) to institutional clients during Asia and Europe trading hours, according to CoinDesk. The service, launched through its UK branch, positions the bank as the first major global financial institution to provide direct crypto spot trading to institutions. The bank is also considering expanding access to 24 hours a day, five days a week, depending on client demand.

Aqua1 Foundation, a Web3 investment fund which invested $100 million into Trump-linked World Liberty Financial (WLFI), has been revealed to be Web3Port —a controversial Chinese market maker previously accused of misconduct while operating for the Movement (MOVE) project, according to Unfolded on X.

Arcadia Finance, a DeFi protocol on the Base network, has been exploited by hackers who stole about $1.6 million, according to CertiK, a blockchain security firm, on its Alert X account. Arcadia Finance acknowledged that the breach occurred through unauthorized use of its Rebalancer tool and advised users to promptly remove any asset manager permissions.

Former Wemade CEO Henry Chang, now serving as CEO of South Korean blockchain firm NEXUS, has been acquitted in a lower court ruling, according to local news outlet Newspim. Chang was indicted without detention in August of last year on allegations that he profited by falsely announcing a suspension of WEMIX token liquidation. The announcement reportedly helped stabilize the price of the token and Wemade’s stock, allegedly resulting in illicit gains of an unspecified amount and leading to charges under the Capital Markets Act.

South Korean investors bought $610 million worth of shares in Circle, the issuer of the USDC stablecoin, on the U.S. stock market over the past month, making it the most heavily purchased foreign stock during that period, according to Newsis. Coinbase ranked second with roughly $200 million in purchases, while major tech stocks such as Tesla, Nvidia and Apple saw net selling.

Here is the breakdown of crypto perpetual futures liquidation over the last 24 hours. - BTC: $489.67 million, Short 81.15% - ETH: $111.60 million, Long 61.97% - XRP: $30.70 million, Long 61.59%

A former finance team manager at South Korea’s National Health Insurance Service (NHIS) has been sentenced to 15 years in prison for embezzling 4.6 billion won (about $3.32 million), according to SBS News. The individual was indicted on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes. The Supreme Court upheld a lower court’s ruling, rejecting appeals from both the defendant and prosecutors. Excluding the 720 million won (about $520,000) recovered by the NHIS, most of the remaining 3.9 billion won (about $2.82 million) was found to have been lost through cryptocurrency futures trading.

Korea Investment and Securities, a South Korean financial services provider, is considering filing a trademark related to a Korean won-based stablecoin, according to Yonhap Infomax. The company has established an internal task force to study international cases and prepare for the anticipated rollout of a regulatory framework for stablecoins. It is also exploring how won-based stablecoins could be integrated with financial products to enhance their practical use.

Crypto exchange Gemini has rolled out a new set of tokenized stocks for investors in the European Union, according to Crowdfund Insider. The latest additions include high-profile U.S. firms such as Nike (NKE), McDonald’s (MCD), Starbucks (SBUX), Coca-Cola (KO) and Yum! Brands (YUM). Issued on the Arbitrum blockchain in collaboration with broker-dealer Dinari, each token is backed 1:1 by real-world shares.

South Korean financial institution Woori Card has filed several trademark applications related to stablecoins, according to Digital Asset. It is the third credit card company in the country to do so and the second subsidiary of Woori Financial Group to pursue such filings. According to the Korean Intellectual Property Rights Information Service (KIPRIS), Woori Card submitted applications on July 10 for marks including "WCKRW," "WCWON" and "WONWC." The designated products include downloadable software used for stablecoins.