Top stories this week
- Russia’s Central Bank Permits Crypto Derivatives for Qualified Investors
Russia’s central bank has approved financial institutions to offer crypto-linked products, such as derivatives, but only to accredited or qualified investors. This marks a significant development in how the country approaches digital assets and suggests a move toward a more inclusive crypto market for selected institutional investors.
- Elon Musk Introduces XChat with Enhanced Encryption
Elon Musk announced the launch of XChat, a communication platform claiming to use ‘Bitcoin-style’ encryption for enhanced security. However, experts are skeptical, suggesting the implementation may not be as robust as promised. The move highlights Musk’s ongoing push for privacy-focused technology.
- Pakistan Sets Up National Bitcoin Reserve
Pakistan has taken a bold step by announcing plans for a government-led strategic Bitcoin reserve, drawing inspiration from similar initiatives by the United States. This move alarms the IMF and is seen as a significant embrace of cryptocurrencies amid a global crypto boom.
- Market Analysis: Bitcoin Under Scrutiny
Analysts are closely watching Bitcoin as it struggles to maintain its position under key financial thresholds. With liquidation figures rising and market sentiment fluctuating, there is caution regarding future movements, though some predict potential breakouts.
- BlackRock Aims for a 10% Stake in Circle’s IPO
BlackRock is actively pursuing a 10% stake in Circle’s upcoming IPO. This investment is significant as Circle is the issuer of USDC, a major stablecoin, and BlackRock’s involvement indicates traditional finance’s increasing interest in digital currencies.
- Metaplanet Raises $21 Million Through Bitcoin Bonds
Metaplanet has accelerated its Bitcoin investments by raising $21 million through a zero-interest bond issuance. This move bolsters its position as a major Bitcoin holder and reflects the company’s strategic bet on cryptocurrency’s long-term growth.
- SEC Drops Legal Action Against Binance
In a landmark decision, the SEC has dismissed its lawsuit against Binance US and its founder Changpeng Zhao (CZ), thus ending the legal proceedings related to allegations from 2023. This decision is pivotal for Binance as it resumes its operations without legal constraints.
- Ross Ulbricht Reflects on Bitcoin’s Journey at BTC 2025
During the BTC 2025 conference, Ross Ulbricht, known for his role in the Silk Road marketplace, shared his thoughts on Bitcoin’s evolution. Emphasizing the importance of freedom in cryptocurrency use, he remains a symbolic figure in the crypto community.
- Coinbase Concealed Data Breach for Months
Coinbase is under scrutiny after reports surfaced about a significant data breach that the firm knew about since January but only disclosed months later. This revelation has raised customer concerns about transparency and data security practices.
Hottest coins of the week
ICON (ICX)
ICON (ICX) is experiencing positive movement with its price surging by 14.59% in the last 24 hours and an impressive 24.39% this week. The recent increase is likely fueled by heightened interest in decentralized finance and blockchain initiatives, exemplified by ICON’s active participation in major events like the upcoming DefaiCon in Istanbul. Additionally, ICON’s engagement in innovative collaborations and discussions around Web3 advancements are drawing significant attention, contributing to the renewed buying interest and overall price boost.
Zebec Network (ZBCN)
Zebec Network (ZBCN) has seen a remarkable price increase, climbing by +20.60% in the last 24 hours and +13.35% this week. This surge can be attributed to Zebec Network’s expansion into the UK with new prepaid cards and support for students, fueling investor confidence. Additionally, strong community backing, strategic acquisitions, and partnerships have bolstered its value, keeping ZBCN in a robust upward trend amidst market uncertainties.
Magic Eden (ME)
Magic Eden (ME) is experiencing significant price movement, with an increase of +23.88% in the last 24 hours and +10.98% over this week, as a result of several positive developments and strategic initiatives. Recent news suggests that investor interest is growing in NFTs and decentralized platforms, which Magic Eden specializes in, driving demand and consequently pushing prices higher. The surge is possibly fueled by a broader market trend towards NFTs and gaming, aligning perfectly with Magic Eden’s offerings in these domains, positioning it as a lucrative asset.
Compound (COMP)
Compound (COMP) experienced a significant price increase of +13.10% in the last 24 hours and +10.54% this week. This surge can be attributed to the strengthened demand for decentralized finance protocols that Compound is a part of, driven by a growing interest in yield farming and lending activities, which are becoming more attractive amidst the volatile crypto market. Furthermore, Compound’s adaptable and scalable protocol, which offers improved financial tools to a broader audience, adds intrinsic value, possibly contributing to the positive price movement.
ApeCoin (APE)
ApeCoin (APE) has seen a notable price increase of +8.46% in the past 24 hours and +7.25% this week. This upward trend could be attributed to its increasing utility and governance role within the ApeCoin DAO, combined with its ties to Yuga Labs. As the token finds more applications and gains a stronger foothold in the entertainment and gaming landscapes, investment confidence may be boosting its value.
Alchemist AI (ALCH)
Alchemist AI (ALCH) is experiencing a notable price surge, with an impressive increase of +28.26% in the last 24 hours and +6.51% this week. The positive momentum is fueled by strategic expansions, including the acquisition of HeyMint to enhance smart wallet capabilities and the integration of PayID in Australia, furthering its crypto payment services. Additionally, the inclusion of the USD1 stablecoin in 173 countries demonstrates Alchemist AI’s commitment to broadening its global payment ecosystem, attracting more users to its robust platform.
