News & Research

In its The Bitcoin Monthly June 2025 Report released on the official website, global asset manager ARK Invest highlighted that the ratio of global M2 supply to Bitcoin supply has set a 12-year high. According to the report, one Bitcoin in circulation is now equivalent to approximately $5.7 million in global M2 supply. ARK Invest expects the ratio to continue to rise in light of the diminishing future supply growth of Bitcoin and the sustained expansion of global liquidity.

U.S. spot Ethereum (ETH) ETFs recorded a combined net inflow of $29.5 million on July 8, marking the third consecutive trading day of inflows, according to @FarsideUK on X. BlackRock’s ETHA led the inflows with $25.3 million, followed by Bitwise’s ETHW with $4.9 million. Fidelity’s FETH saw a $0.7 million net outflow, while the remaining ETFs reported no change in holdings for the day.

A U.S. federal judge has ruled that the U.S. Treasury Department’s Office of Foreign Asset Control’s (OFAC) sanctions against crypto mixer Tornado Cash cannot be introduced as evidence in the upcoming trial of developer Roman Storm, according to CoinDesk. Originally imposed in August 2022, the sanctions were lifted in March 2024 after a Texas court deemed them unlawful. Judge Katherine Polk Failla stated that any mention of the sanctions will be barred unless prosecutors provide compelling evidence related to Storm’s conduct after the sanctions took effect. Prosecutors have until July 10 to submit such material.

Nasdaq-listed media firm GameSquare has raised $8 million through a public stock offering to fund its new Ethereum-based treasury strategy, according to a press release on ACCESS Newswire. The company’s board has approved up to $100 million for phased Ethereum investments, aiming to generate on-chain yields and strengthen its balance sheet.

Four major dollar stablecoin issuers collectively hold $182 billion in U.S. Treasuries, CryptoSlate reported. Tether (USDT) leads with over $125 billion, followed by Circle’s USDC at $55.2 billion, First Digital’s FDUSD with $1.3 billion and Paxos’ PYUSD with $880 million. Their combined holdings exceed those of Saudi Arabia, South Korea and the United Arab Emirates.

Two men have been indicted in Puerto Rico for allegedly operating and promoting OmegaPro, a $650 million international crypto scheme, the U.S. Department of Justice announced in a July 8 press release. The defendants are accused of selling fraudulent “investment packages,” falsely promising 300% returns over 16 months through advanced forex trading. Victims were instructed to pay in cryptocurrency, which was allegedly funneled through wallets controlled by OmegaPro executives and distributed to insiders to obscure the funds’ origins.

South Korea’s Woori Bank, gaming firm Wemade, tech company Tscientific and blockchain infrastructure provider DSRV have each filed trademark applications for stablecoin names, according to Digital Asset.

OpenSea has acquired Rally Wallet to enhance its efforts in mobile access and token trading, according to Unfolded on X.

Decentralized crypto derivatives protocol Vertex, built on Arbitrum, will shut down its Arbitrum-based DEX and migrate to Kraken’s layer-2 network Ink, absorbing its team and technology into Ink’s foundation, according to The Block. The VRTX token will be phased out, with holders receiving 1% of Ink’s genesis supply via airdrop after a July 8 snapshot. Treasury and unvested VRTX will be burned and detailed distribution rules will follow. The move aims to help Vertex compete more effectively in the growing perp DEX market.

Decentralized crypto options exchange Aevo announced on X the launch of Aevo Degen, a platform allowing traders to go long or short with up to 1000x leverage on stocks like Coinbase, Robinhood and Circle. The daily markets are open during U.S. trading hours, with all positions closing at the end of each session.