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NewsBriefs - Bitget takes action against purported VOXEL futures manipulation, legal notices issued to key suspects

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  • Cointelegraph

    Bitget takes action against purported VOXEL futures manipulation, legal notices issued to key suspects

    Crypto exchange Bitget has initiated legal action against eight account holders allegedly involved in manipulating the price of VOXEL/USDT perpetual futures on April 20, resulting in over $20 million in illicit gains. The accounts, implicated as main perpetrators, have been restored to normal after Bitget reversed the irregular trades. The exchange intends to return 100% of recovered funds to affected users via airdrops, while an official incident report is pending.

    Cointelegraph

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    • Grayscale

      Grayscale launches Space and Time Trust to invest in blockchain data convergence

      Grayscale introduced the Grayscale Space and Time Trust, targeting investments in the Space and Time blockchain which addresses blockchain's computational limits. Space and Time integrates blockchain reliability with high-performance data capabilities to support Web 3.0 and AI, providing scalable, transparent data access. The trust allows accredited investors to gain exposure to SXT tokens, which support network security and data transactions, supporting crucial verifiability and auditability for decentralized finance and AI.

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      Grayscale

    • The Block

      Federal Reserve modifies bank examination guidelines, removing reputational risk

      The Federal Reserve has revised its bank examination process by removing 'reputational risk' and focusing on more specific financial risk assessments. This change is intended to provide clearer guidance for banking supervision and may enable banks to more freely serve crypto industry entities, who have previously voiced concerns over debanking practices hindering crypto adoption in the US. The alteration aligns the Federal Reserve with actions taken by the OCC and FDIC and supports ongoing legislative efforts to refine risk evaluation in banking.

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      The Block

    • The Block

      Hong Kong sets regulatory framework for stablecoins, boosts offshore yuan

      Hong Kong's Financial Secretary Paul Chan highlighted the strategic advantage the city gains with its new stablecoin legislation, set to take effect on August 1, making it one of the earliest regions to establish a regulated environment for stablecoins. Chan emphasized Hong Kong's significant role, processing 80% of global offshore yuan transactions, enhancing its position as a financial hub aligned with China's national strategies. This development occurs as global digital asset regulation grows and other nations, including the US, are advancing similar crypto regulations.

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      The Block

    • The Block

      Telegram founder Pavel Durov allowed France exit under strict conditions

      French authorities have permitted Telegram CEO Pavel Durov a second exit from France since his detention in August 2024. Durov, under investigation for alleged illicit activities related to Telegram's services, can visit Dubai, where his company is based, for a maximum of 14 days. This travel is primarily for managing personal affairs, including spending time with his newborn and his injured teenage son.

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      The Block

    • Cointelegraph

      Bitget secures regulatory license in Georgia to expand Eastern European operations

      Bitget has obtained a license in Georgia to operate as a digital asset exchange and custodial wallet provider, expanding its presence in Eastern Europe. This move aligns with the region's precise crypto regulatory environment and support policies. Bitget, already holding licenses in the UK, Italy, Poland, Bulgaria, Lithuania, and the Czech Republic, can now offer Georgians access to spot trading, futures, and copy trading within a locally regulated framework. Additionally, enhanced security measures, including proof of reserves and a protection fund, are now available to Georgian users.

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      Cointelegraph

    • The Block

      President Trump pushes for House approval of GENIUS Act to lead US in stablecoins

      US President Donald Trump has urged the House of Representatives to swiftly pass the GENIUS Act, emphasizing that the legislation will establish the US as the leader in digital assets, particularly stablecoins. The GENIUS Act focuses on creating a comprehensive regulatory framework for dollar-pegged stablecoins and has passed the Senate with bipartisan support, now awaiting a House decision. Trump highlighted the potential for massive investments and innovations that would come with the bill's enactment.

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    • The Block

      Treasury Secretary Bessent backs Trump's stablecoin strategies to ensure US dollar dominance

      US Treasury Secretary Scott Bessent supports President Donald Trump's pro-innovation stance on crypto, particularly stablecoins, as a strategic move to affirm the supremacy of the US dollar globally. Bessent highlighted the potential of stablecoins to be major investors in US Treasuries, a factor that could enhance dollar dominance. The legislative push for stablecoin regulation follows with both the Senate and the House progressing bills, amidst predictions of substantial market growth with traditional financial institutions like JPMorgan Chase and Bank of America poised to enter the market.

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      The Block

    • The Block

      Paxos launches Paxos Labs to facilitate institutional DeFi integration

      Paxos has introduced a new subsidiary, Paxos Labs, designed to enable institutions to integrate decentralized finance (DeFi) and onchain products into their applications effortlessly. Paxos Labs offers APIs for issuing branded stablecoins, deploying tokenized yield strategies, and managing digital assets. Focused on serving consumer fintech apps, exchanges, and blockchain networks, Paxos Labs aims to simplify the incorporation of DeFi elements into traditional platforms, enhancing user engagement and monetization.

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      The Block

    • The Block

      K33 predicts new strategic opportunities with upcoming spot altcoin ETFs

      K33 highlights that pending approvals for new spot altcoin ETFs by a more supportive SEC could enable innovative long/short trading strategies. Multiple filings for Solana and other crypto ETFs suggest increased SEC involvement and a potential inclusion of staking in these products. Differences in market dynamics from previous Bitcoin and Ethereum ETF launches, known as the "Grayscale effect", may influence new ETF setups, specifically impacting how Solana and Litecoin are positioned in the market.

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    • The Block

      DTCC lists VanEck's proposed spot SOL ETF, signaling potential SEC approval

      DTCC has placed VanEck's proposed spot Solana ETF, labeled VSOL, on its list tracking 'active and pre-launch' funds, signaling a probable near-future approval by the US Securities and Exchange Commission. Although currently non-redeemable, its inclusion on the list generally indicates readiness for SEC review. This action reflects DTCC's growing involvement in the crypto sector, amidst a broader context of the SEC considering similar crypto asset funds.

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      The Block

    • Pump.fun

      X reinstates Pump.fun account, ElizaOS still blocked

      Pump.fun and related profiles, including those of its key executives, were reinstated on X after a recent suspension. The unblocking occurs just before Pump.fun plans a $1 billion token sale. Revenue-sharing mechanisms involving PUMP tokens and PumpSwap are also under consideration. However, ElizaOS accounts remain suspended.

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    • Alchemy Pay

      Alchemy Pay collaborates with Ripple to integrate RLUSD for simplified fiat on-ramp

      Alchemy Pay has partnered with Ripple to facilitate fiat on-ramp access through Ripple USD (RLUSD), enabling users in over 173 countries to purchase the USD-denominated stablecoin across its extensive fiat-crypto payment network. This integration supports various payment methods and strengthens the adoption of RLUSD, enhancing the bridge between traditional finance and crypto through a stable and regulated platform.

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    • Strategy

      Strategy buys 10,100 BTC for over $1B, achieves 19% YTD yield

      Strategy has acquired 10,100 bitcoins for approximately $1.05 billion, costing about $104,080 per token and achieving a Year-To-Date (YTD) yield of 19.1% as of June 15, 2025. The total holding stands at 592,100 bitcoins, purchased for around $41.84 billion at an average price of approximately $70,666 per bitcoin.

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      Strategy

    • The Block

      Vietnam legalizes crypto as property, introduces tax incentives

      Vietnam has passed the Digital Technology Industry Law, recognizing cryptocurrencies as property and creating a regulatory framework effective January 2026. This new legislation categorizes crypto into security, payment, utility, and mixed tokens, while offering tax exemptions and other incentives to bolster the digital economy and retain local talent. This move aligns Vietnam with other regions like the European Union and Dubai in establishing dedicated crypto regulations.

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      The Block

    • The Block

      Metaplanet surpasses Coinbase in BTC holdings with new acquisition

      Metaplanet's stock rose by over 17% after the firm announced purchasing 1,112 additional Bitcoin, boosting its total holdings to 10,000 BTC and surpassing Coinbase's 9,267 BTC. The Japanese investment firm acquired this batch for $117.2 million and plans further crypto investments, having launched a $5.4 billion equity offering aimed at expanding its Bitcoin portfolio. Metaplanet's aggressive acquisition strategy includes a revised target of holding over 210,000 BTC by 2027.

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      The Block