Tag: FTX

  • Bitcoin ETFs See $181M Inflow, US Freezes $130M in Iran-Linked USDT, and BitMine Earns $45.7M from ETH Staking

    Bitcoin ETFs See $181M Inflow, US Freezes $130M in Iran-Linked USDT, and BitMine Earns $45.7M from ETH Staking

    The crypto market witnessed several major developments today, including significant Bitcoin ETF inflows, a US government action against Iran-linked USDT wallets, and BitMine’s massive Ethereum staking revenue.

    Bitcoin ETFs Attract $181 Million in Net Inflows

    According to data from SoSoValue, Bitcoin spot ETFs recorded a total net inflow of $181.08 million yesterday. BlackRock’s IBIT led the charge with a daily net inflow of $138.91 million, bringing its historical cumulative net inflow to $60.24 billion. Fidelity’s FBTC followed with $21.07 million, accumulating a total net inflow of $9.93 billion. The combined net asset value of all Bitcoin spot ETFs now stands at $77.96 billion, representing a 6.02% net asset ratio, while the historical cumulative net inflow has reached $51.03 billion.

    US Freezes $130 Million in Iran-Linked USDT Wallets

    On Tuesday, Treasury Secretary Scott Bessent confirmed that the United States has frozen over $130 million worth of cryptocurrency tied to Iran. The action targeted four Tron wallets holding approximately $131 million in Tether (USDT). Blockchain investigator Specter first identified the wallets on-chain, and Bessent later confirmed their connection to the Central Bank of Iran. In a statement shared on X, Bessent reiterated the Treasury Department’s commitment to preventing Iran from using digital assets to support illicit financial activities.

    FTX Allegations Against Justin Sun

    FTX Trading Ltd. has alleged that Justin Sun moved $10 million in Bitcoin from customer accounts at the Poloniex exchange. The claim was detailed in an adversary proceeding court document published on July 14, 2026. FTX is seeking to recover these funds as part of its ongoing bankruptcy proceedings, highlighting the continued efforts to reclaim assets following the exchange’s collapse. The allegations add another layer to the complex legal landscape surrounding FTX.

    Stablecoin Treasury Platform Velocity Raises $38 Million

    Velocity, a stablecoin treasury platform, has raised $38 million in a Series A funding round co-led by Dragonfly and FirstMark. The company plans to expand its infrastructure, enabling companies and financial institutions to use digital assets for cross-border settlement and treasury operations. The new funds will also focus on expanding its banking and payments network, developing new products, and strengthening global regulatory capabilities. Founded in 2025, Velocity develops software that connects stablecoin networks with banking, custody, compliance, and settlement systems, targeting corporate finance teams, payment providers, fintech firms, and financial institutions.

    BitMine Earns $45.7 Million from ETH Staking

    BitMine Immersion Technologies generated $45.7 million from Ethereum staking and validation during the three months ended May 31. This figure represents 98% of the company’s total quarterly revenue of $46.5 million, according to its latest 10-Q filing with the SEC. A year earlier, BitMine reported total quarterly revenue of just $2.05 million, with machine leasing contributing $1.08 million and Bitcoin self-mining generating $813,000. The latest results underscore the company’s dramatic shift toward Ethereum after building one of the world’s largest corporate ETH treasuries.

    FAQs

    1. How much inflow did Bitcoin spot ETFs record?
    Bitcoin spot ETFs recorded total net inflows of $181.08 million. BlackRock’s IBIT led with $138.91 million, while Fidelity’s FBTC followed with $21.07 million.

    2. What happened to the Iran-linked USDT wallets?
    The United States froze four Tron wallets holding around $131 million in USDT. Treasury Secretary Scott Bessent confirmed the wallets were linked to the Central Bank of Iran.

    3. Why is BitMine’s ETH staking revenue important?
    BitMine generated $45.7 million from Ethereum staking and validation during the quarter, representing 98% of its total quarterly revenue, showing a major shift toward Ethereum.

    4. How much did Velocity raise in funding?
    Velocity raised $38 million in a Series A funding round co-led by Dragonfly and FirstMark to expand stablecoin treasury, payments, and settlement infrastructure.

    5. What did FTX allege against Justin Sun?
    FTX alleged that Justin Sun moved $10 million in Bitcoin from customer accounts at Poloniex, as part of FTX’s ongoing bankruptcy-related recovery efforts.

  • Temasek Maintains Freeze on Crypto Investments, Accelerates AI and Blockchain Push

    Temasek Maintains Freeze on Crypto Investments, Accelerates AI and Blockchain Push

    Temasek, Singapore’s state-owned investment firm managing approximately $400 billion in assets, has confirmed it will not resume direct cryptocurrency investments in the near term. Instead, the fund is doubling down on artificial intelligence (AI) and blockchain infrastructure, while maintaining a cautious stance on digital assets due to persistent regulatory uncertainty.

    Nagi Hamiyeh, Temasek’s President of Global Investments, told CNBC that the firm still lacks confidence in crypto’s long-term role within the broader financial system. This cautious approach follows the complete write-down of Temasek’s $275 million investment in FTX in 2022, which represented about 0.09% of its total portfolio.

    FTX Loss Continues to Shape Investment Strategy

    The collapse of FTX remains a defining event for Temasek’s digital asset strategy. The fund’s exposure included $210 million in FTX International and $65 million in FTX US. Although Temasek had clarified that the investment did not represent a direct bet on cryptocurrencies, the loss prompted a thorough review of its approach.

    Hamiyeh explained that Temasek currently holds no direct crypto assets and cannot yet determine how cryptocurrencies will integrate into the wider economy. Regulatory uncertainty, liquidity concerns, and reputational risks continue to guide investment decisions. The fund has indicated that direct crypto exposure could return only after clearer regulatory frameworks emerge across major markets. Until then, digital tokens remain outside its investment mandate.

    Blockchain Remains Part of the Long-term Strategy

    While Temasek avoids direct cryptocurrency holdings, it continues to monitor blockchain technology closely. The firm sees greater value in infrastructure that supports practical business applications rather than speculative digital assets. Areas of interest include blockchain solutions for settlement systems, supply chain management, digital identity, and enterprise data operations.

    This approach allows Temasek to track technological progress without exposing itself to daily market volatility. Broader institutional interest has also shifted toward tokenization and blockchain-based payment systems. Banks and asset managers are testing blockchain platforms to improve settlement speed and reduce operational costs. Temasek views digital finance infrastructure, compliance technology, and related systems as broader investment opportunities than direct token holdings.

    AI Receives Greater Capital Allocation

    Artificial intelligence has become a top priority for Temasek. The firm plans to increase its AI exposure from 6% to 15% of its portfolio by 2031. Hamiyeh noted that the greater opportunity may come from companies that successfully apply AI across their businesses rather than those developing the most advanced models. However, the fund remains selective as some AI valuations have risen faster than underlying fundamentals.

    Temasek keeps about 25% of its portfolio in liquid assets, providing flexibility to respond to market changes and pursue new opportunities. Beyond AI, Europe has attracted increasing investment. The firm invested approximately €12 billion across the region over the past two years, targeting luxury goods, consumer brands, energy transition projects, and family-owned industrial companies.

    On defense investments, Temasek takes a selective approach, focusing on dual-use technologies and reviewing governance links case by case. Its direct exposure remains limited, primarily through ST Engineering.

    As of the latest data from CoinGecko, Bitcoin traded near $62,824 and Ethereum around $1,750, keeping institutional activity in focus.

    What’s Next?

    Temasek continues to avoid direct crypto investments as regulatory uncertainty persists following its FTX loss. Instead, the fund is increasing investment in artificial intelligence and blockchain infrastructure while maintaining liquidity and selectively pursuing opportunities across Europe and other long-term growth sectors.