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.