Bitcoin, Ethereum, and digital asset news covering market movements, blockchain technology, regulatory developments, and cryptocurrency industry trends.
Bitcoin fell more than 5% to approximately $59,360 on Wednesday, extending its decline to over 50% from its all-time high. The cryptocurrency is down about 10% over the past week and nearly 23% over the past month, with crypto-related stocks also experiencing a severe selloff.
With the EU's MiCA crypto rules taking full effect on 1 July 2026, fewer than one in five of the bloc's 1,200-plus registered crypto firms had secured the required licence by May. Companies without authorisation must stop serving European customers or wind down. National regulators have warned of enforcement action, including possible criminal prosecution in France.
Crypto markets steadied on Thursday after nearly $1 billion in futures liquidations. Bitcoin recovered above $61,000 after dipping below $60,000, while ether rose 1.5% to $1,644. SOL continued its decline, down 75% from its September peak.
Crypto sleuths discovered that $1.5 billion stolen from Bybit by North Korean hackers was traced to wallets controlled by the Central Bank of Iran. The funds then flowed through a crypto exchange that has become a major hub for Iran to evade U.S. sanctions.
U.S. bitcoin ETFs recorded $6.4 billion in outflows over the past 30 days, the largest 30-day withdrawal on record. Last week alone saw $233 million in outflows, as crypto fund flows turned increasingly negative across digital asset investment products.
CoinEx rejected allegations from TRM Labs that it served as a $3.84 billion conduit for sanctioned Iranian crypto entities, including $2.7 billion with Nobitex. The exchange said it has no commercial ties with Iranian exchanges and is exiting Iran-related business. TRM also flagged $6 million in transactions linked to the Islamic Revolutionary Guard Corps.
The Wall Street Journal reported that CoinEx has become a key channel for Iranian cryptocurrency flows. This comes as the U.S. Treasury issued a temporary license authorizing Iranian oil transactions through August 21, 2026.
This commentary argues that Bitcoin's record supply in loss, with nearly 11 million BTC underwater, signals long-term holder conviction rather than panic. It contends that long-term holders' accumulation to a record 14.8 million BTC, despite over a third being at a loss, suggests resilience and a potential market bottom.
Binance has withdrawn its application for a Markets in Crypto-Assets (MiCA) license in Greece and will seek authorization in another European Union country. The company stated it is confident it will secure a license in the coming months and that user funds remain safe. The withdrawal follows reports that Greek, Irish, and Latvian regulators raised concerns about Binance's past legal issues and corporate structure.
SecondFi, the Cardano wallet formerly known as Yoroi, suffered an exploit that drained 16 million ADA ($2.4 million) from 374 wallets via a flaw in its proprietary wallet generation software. SecondFi rescued a further 129 million ADA before attackers could reach it. Blockchain security firm SlowMist estimates total losses could exceed $20 million pending an independent audit.