Author: Token Flash

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A growing number of crypto firms have applied for banking licenses or are thinking of doing so as TradFi and crypto continue to mingle.Two days after USDC stablecoin issuer Circle revealed that it had applied for a national trust bank charter in the United States, Ripple Labs made a similar move.In an X post on July 2, Ripple CEO Brad Garlinghouse confirmed that the firm has applied to the Office of the Comptroller of the Currency (OCC) for a national bank charter.It’s a growing trend, as crypto and traditional finance continue to converge. Fidelity’s crypto-focused subsidiary, Fidelity Digital Assets, has…

More than $868 million worth of crypto stolen in the Bybit hack has disappeared, according to data from the exchange’s Lazarus Bounty website.Bybit’s Lazarus Bounty website, which tracks funds stolen in the $1.5 billion hack, now shows that over 60% has gone dark, with only 5% frozen.The website indicates that approximately 62% of the stolen funds — roughly $868 million — are no longer traceable, with only 5% frozen and nearly 33% still traceable. So far, Bybit has paid out over $2.3 million in bounties to 13 “bounty hunters.”Launched in February, the Lazarus Bounty website was created by Bybit to…

New research from Flipside reveals that fewer than 5% of wallets typically handle the majority of on-chain transfer volume.A new report from blockchain analytics firm Flipside reveals that a very small cohort of blockchain users is responsible for most of the value being transferred across 24 major networks.The firm tracked more than 400 million addresses and found that wallets with high engagement scores — what it calls “high-quality users” — consistently move the most funds. These users comprise only a small portion of total addresses but are responsible for the bulk of transfer volume.“The vast majority of addresses on each…

China’s leading technology companies, including JD.com and Alibaba’s fintech affiliate Ant Group, are actively lobbying the People’s Bank of China to authorize the issuance of yuan-based stablecoinsChina’s leading technology companies, including JD.com and Alibaba’s fintech affiliate Ant Group, are actively lobbying the People’s Bank of China to authorize the issuance of yuan-based stablecoins. These proposed stablecoins would be issued offshore, specifically in Hong Kong, and pegged to the offshore yuan. The initiative aims to enhance the global role of the yuan and provide an alternative to the dominance of US dollar-linked stablecoins in digital payments and cross-border transactions. Sources familiar…

VC firm Breed predicts that companies emulating Strategy’s Bitcoin treasury will run into danger during the next bear market.Many Bitcoin treasury companies will inevitably fail, bringing the threat of systemic risk when they do, according to venture capital firm Breed.Particularly vulnerable are firms with market values near the value of the BTC they hold, Breed said in a new report titled “The $Strategy Strategy Proliferation.”In it, Breed argues that there are two types of Bitcoin treasury companies: those that add BTC as an investment separate from their main business operations, and pure-play Bitcoin treasury firms. “Companies that simply add BTC…

House Republican leaders have designated 14-18 July as “Crypto Week,” scheduling floor votes on three high-profile digital-asset billsHouse Republican leaders have designated 14-18 July as “Crypto Week,” scheduling floor votes on three high-profile digital-asset bills. The announcement came from Financial Services Committee Chair French Hill and Agriculture Committee Chair GT Thompson, with backing from Speaker Mike Johnson.Lawmakers will take up the CLARITY Act, which divides oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission; the Anti-CBDC Surveillance State Act, which would permanently bar the Federal Reserve from issuing a central-bank digital currency; and…

The FTX Recovery Trust asked the Delaware bankruptcy court to approve a new “hold-and-review” framework that could block payments to customers in 49 jurisdictions where cryptocurrency use is banned or heavily restricted, according to a filing made public this weekThe FTX Recovery Trust asked the Delaware bankruptcy court to approve a new “hold-and-review” framework that could block payments to customers in 49 jurisdictions where cryptocurrency use is banned or heavily restricted, according to a filing made public this week. The list covers markets such as China, Russia, Ukraine, Pakistan and Saudi Arabia.The trust said the targeted countries account for about…

Two Bitcoin wallets that had been inactive since 3 April 2011 moved a combined 20,000 BTC—now worth roughly $2Two Bitcoin wallets that had been inactive since 3 April 2011 moved a combined 20,000 BTC—now worth roughly $2.18 billion—early on 4 July 2025, according to blockchain-monitoring services including Whale Alert and Lookonchain. Each wallet sent 10,000 BTC within minutes of the other, marking their first activity in more than 14 years and ranking among the largest movements of so-called “Satoshi-era” coins ever recorded.The coins were originally acquired for about $0.78 apiece, giving the unidentified holder a paper gain of approximately 140,000-fold,…

Bitwise’s CIO says it’s still too early to call predictions for BTC all-time highs and ETF flows for this year.With the first half of 2025 now wrapped up, asset management firm Bitwise checked in on several bold predictions it made in December in this week’s memo from the firm’s CIO, Matt Hougan. And while only two predictions have panned out so far, the firm believes that H2 could be when things really take off.The biggest prediction, that “Bitcoin, Ethereum, and Solana will hit new all-time highs, with Bitcoin (BTC) trading above $200,000,” is still to be determined. BTC hit a…