News & Research

Bloomberg ETF analyst Eric Balchunas highlighted via X that BlackRock’s spot Bitcoin ETF, $IBIT, is now the third-highest revenue-generating fund out of 1,197, just $9 billion away from the top spot. He noted this achievement for the 1.5-year-old ETF, calling it an impressive statistic.

Bitcoin (BTC) miner Riot Platforms (RIOT) mined 450 BTC in June, worth around $49.26 million at current prices, marking a 76% increase year-over-year (YoY) from 255 BTC in June. However, the firm's June output was down 12% from the 514 BTC mined in May. Riot now holds 19,273 BTC and sold $41.7 million worth of Bitcoin in June. The firm also diversified its operations in January by shifting some power capacity from its Corsicana, Texas facility to AI and high-performance computing, The Block reported.

On-chain data platform CryptoQuant analyzed on X that Bitcoin's (BTC) real demand is showing a decreasing trend. The platform noted that while U.S. spot Bitcoin ETFs have bought 377,000 BTC and Strategy (MSTR) has purchased 371,000 BTC, the apparent demand has dropped by 857,000 BTC. CryptoQuant emphasized that Bitcoin will need rising demand to break its all-time highs.

Bo Hines, Executive Director of the Trump administration's crypto advisory group, predicts that the passing of the Genius Act, expected soon, could lead to a $15-$20 trillion crypto market. Hines, in an interview with Fred Thiel, CEO of Bitcoin (BTC) miner MARA Holdings, emphasized that the legislation would modernize financial systems, allowing for instant settlements, cost-effective payments and enhanced transparency. He believes the law will boost the U.S. dollar's global dominance and inject substantial capital into the crypto industry, potentially increasing its value by over 300%, according to TheCryptoBasic on X.

In the first half of 2025, stablecoins accounted for 74.6% of all institutional over-the-counter (OTC) crypto trades, a significant jump from 46% in 2024, according to Finery Markets, cited by The Block. The report highlights a 154% rise in stablecoin transactions, with USDC trading volumes surging 29-fold, aided by Europe’s Markets in Crypto-Assets Regulation (MiCA) regulation. CEO Konstantin Shulga warned that while stablecoins drive growth, increasing issuers and market fragmentation heighten systemic risks, with a potential depeg triggering widespread issues.

Crypto-based prediction market platform Polymarket is facing allegations of market manipulation, as high-stakes bettors are reportedly colluding to influence outcomes in their favor, according to DL News, citing four active participants. The users claim that some traders coordinate via Discord, social media and comment sections, allegedly using multiple accounts to create a false sense of consensus. As of the time of reporting, Polymarket had not responded to requests for comment.

Institutional players are buying up ETH, according to Lookonchain on X. A wallet likely tied to Matrixport withdrew 40,734 ETH ($104 million) from crypto exchanges Binance and OKX in the past 24 hours, while Abraxas Capital pulled 48,823 ETH ($126 million) from Binance and Kraken during the same period.

The Abu Dhabi Securities Exchange (ADX) is set to list the Middle East and North Africa (MENA) region’s first blockchain-based bond, issued by First Abu Dhabi Bank (FAB) through HSBC’s Orion digital asset platform, CoinDesk reported.

Nasdaq-listed @defidevcorp announced on X that it has resumed its Solana (SOL) accumulation strategy by purchasing an additional 17,760 SOL, referencing the U.S. Declaration of Independence signed in 1776. The company now holds a total of 640,585 SOL, valued at approximately $98.1 million.

Telegram blockchain startup TOP has raised $28.5 million in funding, according to Unfolded on X.