Crypto

FalconX Confidentially Files for US Stock Market Listing Cryptocurrency trading firm FalconX has confidentially filed for an initial public offering with the US Securities and Exchange Commission (SEC), hiring investment bankers to advance the listing process. This makes it another major crypto trading platform seeking to go public on US exchanges, following in the footsteps of Coinbase and Kraken. According to CoinDesk, FalconX primarily serves institutional investors, providing crypto market-making, lending, and over-the-counter trading services. The company has experienced rapid business growth in recent years, benefiting from the massive influx of institutional capital into the cryptocurrency market. ...

Bitcoin fell below $73,000 as Middle East tensions sparked a crypto sell-off. BlackRock’s iShares Bitcoin ETF (IBIT) saw $528 million in net outflows — its second-largest daily outflow on record. Approximately $1 billion in leveraged positions were liquidated. Ethereum also dropped below $2,000, though futures open interest hit a record 16 million ETH, signaling growing divergence between spot selling and futures positioning.

The US Commodity Futures Trading Commission (CFTC) has admitted it should not have sued crypto exchange Gemini, joining the company in a motion to vacate a 2025 consent order. The rare reversal signals regulatory self-reflection on enforcement overreach.

Crypto exchange Kraken has expanded its Earn product suite with Bitcoin Vault. The product routes user BTC deposits into DeFi lending protocols including Aave and Morpho to generate BTC-denominated rewards.

OpenZeppelin founder says he now considers the entire DeFi sector unsafe, sparking industry debate.

China’s Supreme People’s Court will develop judicial guidance for crypto-related cases amid rising legal disputes.

Decentralized exchange Hyperliquid has launched its HIP-4 product, allowing traders to bet on off-chain events like inflation and interest-rate decisions. The markets are governed by validators and use automated newsfeed software to publish outcomes, directly challenging Polymarket.

OKX’s Layer-2 network X Layer has launched Exchange OS, moving core exchange functions — matching, margining, liquidation, and settlement — to the protocol layer, allowing users to create custom crypto trading markets.

Tokenized real-world assets (RWA) platform Ondo Finance announced Tuesday the unexpected death of founder Nathan Allman. Longtime president Ian De Bode will take over management. Ondo Finance is one of the largest RWA platforms in crypto, managing billions in tokenized assets.

The total stablecoin market value has reached $322 billion, exceeding the official foreign exchange reserves of 95 nations worldwide. This marks the continued expansion of the crypto ecosystem’s “shadow banking” scale, with user-held dollar and fiat assets increasingly operating outside traditional banking channels.