Crypto Industry News & Market Trends

Ondo tokenizes BlackRock's IVV ETF and Micron stock under US custodial model

Quick TakeOndo on Thursday launched tokenized versions of BlackRocks IVV ETF and Micron stock under the third-party custodial framework described by the SEC in January.　　Ondo Finance expanded its U.S. footprint on Thursday with the launch of tokenized versions of BlackRocks iShares Core Ss entitlement to those holdings. Ondo said its tokenized IVV and Micron products are built around that framework.　　Under the model, the underlying shares remain in the conventional U.S. custody chain, while Oasis Pro TA, Ondos SEC-registered transfer agent subsidiary, mints corresponding tokens backed 1:1 by the securities. The tokens are issued on Ethereum and held by regulated custodians, according to the statement.　　Token holders receive the same shareholder rights and protections available through traditional brokerage accounts, including issuer communications and onchain proxy voting through Broadridges ProxyVote.com platform. Transfer restrictions are enforced by participating broker-dealers, transfer agents, and custodians in line with existing regulatory requirements, Ondo said.　　“Todays milestone shows we can tokenize securities in ways that meet both market and regulatory requirements, for U.S. and global investors and provides a strong foundation for our expanding access to onchain investments for more U.S. investors,” Ondo Finance CEO Ian De Bode said.　　Ondo focuses on tokenizing real-world assets and institutional financial products. Its

07-02Industry

Bitget expands Stock+ platform with US stock options trading

Quick TakeBitget launched U.S. stock options on Thursday, adding long call and long put strategies to its Stock+ platform for eligible users.　　Seychelles-based crypto exchange Bitget launched U.S. stock options trading for eligible users, expanding its Stock+ offering beyond tokenized stocks and other traditional market products.　　The launch introduces long call and long put positions at the outset, allowing users to take directional exposure or manage downside risk through options purchases. Buyers risk is limited to the premium paid, though contracts may expire without value if expected price moves do not materialize, the exchange said in a statement shared with The Block on Thursday.　　According to the statement, the initial release focuses on single-leg options buying, with more advanced multi-leg strategies planned for future updates. The product is part of Bitgets Stock+ offering, which already includes tokenized stocks and pre-IPO access to private market opportunities.　　Bitget said the rollout comes as demand for listed options reached record levels in 2025, with the U.S. options market processing more than 15.2 billion contracts, averaging roughly 60 million contracts per trading day. The exchange cited the growth as reflecting broader use of options by retail and institutional participants for directional trading, hedging, and capital management.　　“From tokenized stocks

07-02Industry

Peter Thiel-backed crypto-friendly Erebor Bank eyes $8 billion valuation as deposits nearly quadruple: Bloomberg

Quick TakeErebor Bank, a crypto- and defense-focused startup founded by Palmer Luckey and backed by Peter Thiel, is in talks to raise funding at a valuation of at least $8 billion, roughly double its $4.35 billion valuation from December, according to Bloomberg.The banks deposits have nearly quadrupled since March to $4.05 billion, and it expects to be profitable by the end of the year.　　Erebor Bank, the crypto- and defense-focused startup founded by Palmer Luckey and backed by Peter Thiel, is in talks to raise funding at a valuation of at least $8 billion.　　The potential valuation would roughly double the $4.35 billion level Erebor secured in a $350 million funding round in December, Bloomberg reported, citing people familiar with the matter. The talks are preliminary, and the valuation is still under discussion, the people said.　　The banks deposit base has nearly quadrupled since March, reaching $4.05 billion from the $1.1 billion it disclosed to regulators at the end of that month, per the report. Erebor also added nearly 400 customers over the past three months and expects to be profitable by year-end.　　Luckey said none of the banks deposit growth this quarter came from his own companies, adding that hundreds of new customers

07-02Industry

OFAC sanctions 134 ISIS-K crypto wallet addresses as Tether freezes funds

The US Department of the Treasurys Office of Foreign Assets Control (OFAC) sanctioned 134 cryptocurrency wallet addresses identified as belonging to ISIS-Khorasan (ISIS-K), which has been a Specially Designated Global Terrorist since September 2015.　　The wallet addresses were added to the OFACs Specially Designated Nationals (SDN) list on Wednesday, which includes individuals, entities and digital asset addresses linked to terrorism, narcotics trafficking and other illicit activity.　　Stablecoin issuer Tether has frozen the balances associated with 131 Tron addresses, while the remaining three sanctioned addresses were on the Monero network, blockchain forensics company Chainalysis said in a Wednesday report.　　The development comes over a week after the OFACs previous round of sanctions against ISIS-supporting financiers using cryptocurrency. On June 22, the OFAC sanctioned three individuals and six entities across Europe, the Middle East and West Africa, including Syria-based MSB Bitcoin Xchange and Turkish MSB Spider.　　OFAC said the previous round of sanctions targeted “key facilitators who enable ISIS to move funds among its regional affiliates.”OFAC update to SDN list, new wallets included. Source: OFAC　　131 wallets linked to ISIS-K received $1.4 million in donations　　ISIS-K has historically solicited crypto through donation campaigns on various websites and messaging platforms, Chainalysis said.　　The report said that the 131 Tron addresses

07-02Industry

Ezra Reguerra

Aave brings V3 lending and GHO stablecoin to Monad　　Aave launched its V3 lending protocol on Monad with 12 supported assets as the network commits $15 million in first-year incentives to build liquidity and adoption.

07-02Industry

SBI Crypto shuts Bitcoin mining pool after 5-year run

SBI Crypto, a cryptocurrency-focused division of Japanese financial conglomerate SBI, is shutting down its Bitcoin mining pool after a five-year run.　　The company announced Wednesday that it will end mining pool operations on July 31 and will stop accepting mining shares at the same time. It did not provide its rationale for closing the pool.　　SBI Crypto said miners should keep directing hashrate to the pool until the cutoff so final payouts can be calculated correctly before operations end. “We would sincerely appreciate your continued support by mining with us until the final day of operation,” it said.　　The shutdown marks the end of one of Japan‘s better-known corporate mining pool operations and is the latest sign of SBI’s intentions to expand its broader cryptocurrency strategy beyond mining.　　SBI Cryptos BTC mining pool ranks No. 12 globally　　SBI Crypto launched its Bitcoin mining pool in March 2021, entering a market that at the time was dominated by operators such as Poolin, F2Pool and Binance Pool.　　Data from SimpleMining shows SBI Crypto currently ranks as the 12th largest Bitcoin mining pool globally, with about 21.46 exahashes per second (EH/s) of hashrate and roughly 2.24% of total Bitcoin network share.Source: SimpleMining　　That places it far behind leaders like Foundry

07-02Industry

Yield-bearing stablecoin slowdown ends 3-year run for crypto-native products

Yield-bearing stablecoin supply fell by more than $3.5 billion in the second quarter of 2026, reversing nearly three years of quarterly growth as crypto-native products contracted and Treasury-backed tokens expanded.　　Crypto exchange CEX.IO reported Thursday that the category declined by 15% during Q2. Ethena‘s sUSDe lost 52% of its supply, shedding nearly $2 billion, while Sky’s sUSDS declined by 16%.　　Treasury-backed products moved in the opposite direction. BlackRocks BUIDL grew by 2%, Circles USYC increased by nearly 16% and Ondo Finances USDY rose by over 66%, highlighting a widening divide between crypto-native yield assets and products backed by traditional assets.　　The divergence came as the broader stablecoin market recorded its first quarterly contraction since the third quarter of 2023, according to CEX.io. Total supply fell to $312 billion in Q2, while adjusted transaction volume declined by 5.5%.　　Supply growth per quarter, compiled by CEX.io. Source: CEX.io　　Stablecoin slowdown deepens after weaker Q1 signals　　The Q2 decline marks a sharp reversal from the start of 2026. In Q1, stablecoin supply increased by about $8 billion to a record $315 billion, with yield-bearing products among the main growth drivers.　　However, signs of weakening organic demand had already emerged early in the year. During the first quarter, retail-sized transfers fell

07-02Industry

Anchorage Digital adds Lido support, giving institutions access to wstETH

Quick TakeThrough the integration, institutional clients gain direct access to Lido‘s wrapped staked ETH token, wstETH, via Anchorage’s platform.Perhaps the added access to wstETH could bolster Lido revenues, which declined last year.　　Federally regulated crypto bank Anchorage Digital said Thursday it has added support for Lido, Ethereums dominant liquid staking protocol.　　Through the integration, institutional clients gain direct access to Lidos wrapped staked ETH token, wstETH, via Anchorages platform, the company said in a statement.　　Anchorage clients can connect to the Lido dApp and mint and burn wstETH. In this manner, Anchorage users gain exposure to liquid Ethereum while simultaneously taking advantage of Anchorages custody and governance controls, according to Thursdays statement.　　“Liquid staking has become one of the most important building blocks for institutional participation in Ethereum,” Anchorage co-founder and CEO Nathan McCauley said. “By integrating with Lido, were giving institutions access to wstETH without the operational or security tradeoffs that have historically kept large allocators on the sidelines.”　　Perhaps the added access to (wstETH) could bolster Lido revenues, which declined last year. In March, Lido said that in 2025 revenues fell over 20% as users withdrew funds and staking yields declined.　　Traditional Ethereum staking requires locking up ETH for extended periods while running validator

07-02Industry

'Accumulation beneath the surface': Bitcoin rebounds above $61,000 as long-term holders accumulate amid steady ETF outflows

Quick TakeBitcoin trades back above $61,000 after bottoming near $57,800 this week, even as spot ETFs posted a $296 million net outflow on July 1.Glassnode and Bitfinex analysts both say long-term holders are quietly accumulating beneath the selloff, even as ETFs turned net sellers of bitcoin for the first time this cycle.　　Bitcoin traded above $61,000 on Thursday, clawing back some ground after tumbling to a 21-month low earlier in the week, according to The Blocks prices page.　　U.S. spot bitcoin (BTC) exchange-traded funds recorded a net outflow of $296 million on July 1, according to data compiled by The Block.　　The Grayscale Bitcoin Mini Trust ETF posted the largest single-day inflow among the group at $36.3 million. Spot ether (ETH) ETFs fared better, taking in a net $14.8 million, led by BlackRocks ETHA at $36.6 million.　　The moves follow The Blocks report that spot bitcoin ETFs shed $4.5 billion in June, their worst month since launching in January 2024, with BlackRocks IBIT alone accounting for $3.55 billion of it.　　Accumulation signals　　Glassnode analyst Chris Beamish wrote that long-term holders have returned to accumulation after an extended period of distribution, with buying activity broadening across wallet cohorts, including smaller holders and entities holding 100 to 1,000

07-02Industry

'I think we're nearing the bottom': Bitwise CIO says Strategy's STRC selloff is part of bitcoin's end-of-cycle dynamics

Quick TakeSTRC, Strategys preferred stock, traded as low as $75 from its $100 par value before Strategy overhauled its framework on June 29 and let the price float instead of defending $100.Bitwise CIO Matt Hougan called the STRC selloff a classic “end-of-cycle” pattern and said he expects a new bitcoin bull market to begin this fall.　　Bitwise Chief Investment Officer Matt Hougan said the sharp sell-off in Strategys STRC preferred stock is a “painful but necessary” part of the current crypto market cycle and argued it reflects the kind of end-of-cycle deleveraging that typically precedes a market bottom.　　Bitcoin fell below $60,000 in late June, its lowest level since 2024, a decline Hougan attributed largely to turmoil around STRC, the perpetual preferred equity instrument Strategy (MSTR) uses to help fund its bitcoin purchases.　　A preferred stock under pressure　　STRC launched last year, targeting a $100 par value, initially paying a 9% yield.　　Strategy said it would raise that yield by 0.25 to 0.50 percentage points whenever the price drifted below $100 to draw buyers back toward par. The mechanism worked for a while, since the rate climbed to 11.5%, the price held near $100, and investors poured $10.5 billion into the instrument, helping to fund

07-02Industry