Latest Crypto News & Market Updates

RedotPay said to put $1 billion U.S. IPO plan on hold: Bloomberg

SummaryStablecoin payments firm RedotPay postponed its planned $1 billion U.S. IPO, which is now unlikely to occur before 2027, as it addresses legal issues.The Hong Kong-based company, which recently obtained a U.S. money transmitter license and is preparing a U.S. product launch, declined to comment on its IPO plans.RedotPay, which calls itself the worlds largest stablecoin payment card issuer and recently reached unicorn status, is facing a $470 million lawsuit from Binance over allegedly poaching hundreds of thousands of users.　　Stablecoin payments company RedotPay delayed a planned $1 billion U.S. IPO to deal with legal issues, Bloomberg reported Friday, citing people familiar with the decision.　　The listing, initially planned for this year, is unlikely to take place before 2027, the people told the financial news organization.　　“Our strategy continues to focus on global regulatory compliance and business growth,” a RedotPay spokesperson told CoinDesk via Telegram. This week we obtained a money transmitter license in the U.S. We are preparing to launch our product in the U.S.　　The spokesperson declined to comment on the IPO plan, which emerged in February. Hong Kong-based RedotPay is said to have tapped JPMorgan, Goldman Sachs and Jeffries for the potential listing.　　RedotPay, which describes itself as the worlds largest stablecoin

08-14Industry

Shytoshi Kusama's Litecoin Connection？ SHIB Veteran Gives Take

There is speculation about a possible connection between pseudonymous Shiba Inu lead ambassador Shytoshi Kusama and Litecoin founder Charlie Lee.　　An X user had asked if Charlie Lee was Shytoshi Kusama. This claim remains unestablished, with no verified evidence showing that Lee and Kusama are the same person. However, the question prompted a response from long-time SHIB community member and Shiba Eternity advisor Mazrael.　　“Could be he chatted with Litecoin that one time,” Mazrael answered. This does not confirm that Charlie Lee is Shytoshi Kusama but suggests that Kusama may have interacted with Litecoin at some point. The latter might be the case given Kusamas past interactions with Litecoin on X.　　In November 2024, Kusama made a post directed to Litecoin, which had jokingly referred to itself as a meme-themed coin, primarily a stick figure with the letter L as its head, attracting the attention of the Shiba Inu lead ambassador. Kusama responded that “he was not looking to get into beef with Litecoin.”　　Tracking Market News　　This simple fact might suggest no connection between Litecoin and Shytoshi Kusama. Charlie Lee, a former Google engineer, launched Litecoin in October 2011 as a source-code fork of Bitcoin.　　Shiba Inu mystery continues　　Kusama, a key figure in the Shiba

08-14Industry

Bullish shares jump 10% as Q2 adjusted EBITDA more than triples

Bullish shares jumped around 13% in early trading Thursday after the institutional-focused crypto exchange and CoinDesk owner reported a 62% year-over-year increase in second-quarter adjusted revenue and more than tripled its adjusted EBITDA.　　Bullish reported $92.6 million in adjusted revenue for the quarter, up from $57 million a year earlier, while adjusted EBITDA rose to $29.5 million from $8.1 million. Adjusted net income reached $14.3 million, reversing a $6 million loss in the year-ago quarter.　　Subscription, services and other revenue hit a record $62.7 million, helping offset weaker exchange activity. The company recorded $179.6 billion in quarterly trading volume, down from $197.4 billion a year earlier, while average daily volume fell to $2 billion from $2.2 billion.　　The NYSE-traded BLSH shares were up more than 10% on Thursday morning. Source: Yahoo Finance.　　The company also received approval from the Gibraltar Financial Services Commission to offer secondary trading in issuer-sponsored tokenized securities, expanding its push into regulated onchain markets.　　Bullish lifted its full-year guidance, forecasting $225 million to $245 million in subscription, services and other revenue, citing its first-half performance and improved visibility.　　Thursdays rally extends a recent rebound for Bullish shares, which have gained around 20% over the past month. The stock, however, remains about 70%

08-14Industry

Crypto payments barely register among euro area merchants, ECB finds

Crypto remains a marginal payment option among euro area businesses even as other forms of digital payments gain ground, according to a new European Central Bank (ECB) report.　　Just 0.2% of companies selling goods and services online accept crypto assets, the ECB said in its survey on companies cash use, published Thursday. Cash remains the most widely accepted payment method, with 92% of companies with physical points of sale accepting it.　　The ECB surveyed 8,205 businesses across the 21 euro area countries, covering retail, restaurants and cafes, hotels, and arts, entertainment and recreation. Market research firm Ipsos conducted the telephone interviews from Feb. 23 to April 10.　　The findings come as the ECB advances work on a digital euro, a central bank digital currency (CBDC) designed to complement cash and preserve the euros role.　　Mobile payments are catching up　　Mobile payments recorded the biggest shift among payment methods at physical locations, with acceptance jumping to 68% in 2026 from 36% in 2024.　　The most commonly accepted mobile options include instant payments and digital wallets, such as Apple Pay and Google Pay.Acceptance of various payment instruments, 2024 versus 2026. Source: ECB　　Cash edged up to 92% from 90%, while physical card acceptance rose to 88% from 87%. Crypto

08-14Industry

RedotPay US IPO delayed amid regulatory, legal hurdles: Report

RedotPays plans for a US stock market debut have reportedly been delayed as the stablecoin payment company prepares to expand into the country.　　The company delayed plans for a US initial public offering (IPO) while it seeks regulatory approvals and contends with legal disputes involving Binance, Bloomberg reported on Friday, citing people familiar with the matter.　　A RedotPay representative declined to comment on the timing of an IPO to Cointelegraph. The representative instead pointed to the companys US expansion, saying RedotPay obtained a money transmitter license in the US this week and is preparing to launch its product in the country.　　The reported setback follows a nearly $473 million lawsuit filed by Binance affiliates and comes as RedotPay works to expand its regulatory footprint in the US and other markets.　　RedotPays IPO ambitions surfaced in February　　RedotPay, founded in 2023 and based in Hong Kong, first emerged as a potential US public-market entrant in February, when reports surfaced that the company was considering a New York listing.　　RedotPay has reportedly been working with JPMorgan Chase, Goldman Sachs and Jefferies Financial Group on a listing that could raise more than $1 billion. At the time, the company was seeking a valuation of more than $4 billion.　　Related: Bithumb

08-14Industry

Singapore crypto job scam costs company $11.8 million

A fake cryptocurrency job offer that infected a company-issued device has led to US$11.8 million in losses after attackers gained access to corporate systems and bypassed transaction controls, Singapore authorities have said.　　The Singapore Police Force and Cyber Security Agency of Singapore said on Aug. 14 that the victim was first contacted on LinkedIn by a scammer posing as a recruiter from a cryptocurrency-related company, beginning an interview process that eventually gave the attackers access to the victims employer.　　Communication moved from LinkedIn to email, where the supposed recruiter used a spoofed domain that closely resembled the legitimate companys address. The victim also attended several interviews through Google Meet, although the person conducting the interviews kept their camera switched off during the calls.　　As the recruitment process advanced, the victim was sent to a spoofed website and asked to complete a technical coding assessment on a company-issued device. Malicious software was downloaded during the assessment without the victim realizing the device had been compromised.　　Fake crypto job assessment opened access to corporate systems　　Once installed, the malware harvested the victim‘s session token, SPF and CSA said. Attackers then used the stolen token to bypass multi-factor authentication and gain access to the victim’s Bitbucket account, which

08-14Industry

Challenge solve issues · Cloudflare challenges docs

Challenge loops　　You may encounter a challenge loop where the challenge keeps reappearing without being solved. This is in very specific cases where we detect strong bot signals. If you are a legitimate human, you can follow the troubleshooting guide below to resolve the issue or submit a feedback report. Challenge loops can happen for several reasons:Network issues: Poor or unstable network connections can prevent the challenge from being completed.Browser configuration: Some browser settings or extensions may block the scripts needed to execute the challenge.Unsupported browsers: Using a browser that is not supported by Turnstile.JavaScript disabled: Turnstile relies on JavaScript to function properly.Detection errors: If Turnstile suspects bot-like behavior, you may encounter repeated challenges for verification.　　Most challenges are quick to complete and typically take only a few seconds. If it takes longer, ensure your network is stable and follow the troubleshooting steps.　　Note　　If the issue persists, try switching to a different network or device to rule out any issues with your browser environment.　　Ensure your browser is updated to the latest version to maintain compatibility.　　401 response on a Private Access Token request　　When a Challenge Page loads, the browser may request a Private Access Token (PAT) from a /cdn-cgi/challenge-platform/.../pat/... endpoint. On devices, browsers, or

08-14Industry

Hyperliquid (HYPE) Spot Flows Spike 350% as Price Breaks Through

Hyperliquid is showing an unusual combination of improving spot flows and strengthening price action, with 12-hour spot net flows surging more than 350% while HYPE attempts to establish itself above a critical technical area. The move suggests that the latest recovery has more behind it than derivatives speculation alone.　　Spot flows surge　　Over the 12-hour window, HYPE recorded approximately $8.84 million in spot inflows against $7.31 million in outflows. That produced positive net inflows of roughly $1.53 million, with the net change metric jumping 353.49%.　　This is particularly notable because shorter windows remain negative. The four-hour spot net flow stands at approximately -$381,000, while the eight-hour figure is around -$287,000. The 12-hour reading therefore captures an earlier period of substantially stronger accumulation that still outweighs more recent selling.　　Futures flows tell a different story. HYPE recorded approximately $102.25 million in 12-hour futures outflows against $92.66 million in inflows, producing a $9.59 million negative balance. Eight- and four-hour futures flows are also negative.　　That divergence can actually strengthen the quality of the current setup. Spot demand represents direct acquisition of HYPE, whereas futures activity can create leveraged exposure without equivalent underlying buying. Positive spot flows combined with derivatives outflows suggest some leverage is leaving while underlying

08-14Industry

BiFinance Discloses Security Infrastructure, Proof of Reserves (PoR), and RWA Tokenization Offerings

1. Overview and Security Architecture　　As cryptocurrency market participants place increasing emphasis on asset custody security, transparency, and regulatory compliance, digital asset platforms continue to update their operational frameworks.Established in 2022, BiFinance operates a digital asset trading platform featuring cold and hot wallet segregation, multi-signature authorization protocols, proprietary trading infrastructure, automated risk management systems, and 24/7 global customer support.　　2. Real-World Asset (RWA) Tokenization Suite　　Alongside spot trading operations, BiFinance has expanded into Real-World Asset (RWA) tokenization. 　　Current products include:　　TGT (Gold Token): Blockchain-based tokenized exposure backed by physical gold reserves.　　SDMT (Stock Token): Tokenized exposure referencing Hong Kong-listed equities.According to platform documentation, these products aim to provide fractional ownership and digital liquidity for traditional asset classes through blockchain infrastructure.　　　　3. Regulatory Compliance and Proof of Reserves (PoR)　　On the regulatory front, BiFinance has completed registration as a Money Services Business (MSB) with the U.S. Financial Crimes Enforcement Network (FinCEN) and reports ongoing efforts to expand its regional compliance footprint.To enhance asset transparency, BiFinance deployed a 100% Proof of Reserves (PoR) system utilizing Merkle Tree cryptographic verification, enabling users to independently verify platform reserve balances.According to self-reported platform metrics:　　User Base: Over 1.1 million registered accounts across more than 130 countries and regions.　　Trading Volume: Daily trading volume typically

08-14Deep Dive

Kalshi Ordered to Block Washington Bets Days After CFTC Backed It

In briefA Washington judge has ordered Kalshi to stop offering wagers on sports, elections, politics, entertainment, culture, tech and science, and “mentions” in the state.Kalshi must have an IP and residency geofence running by August 19, and a multi-source solution by September 2.The order lands two days after the CFTC used emergency powers to order the exchange to keep operating.　　A King County Superior Court judge has issued a final order requiring Kalshi to shut down most of its Washington business, after finding the exchange likely broke the states Gambling Act and Consumer Protection Act by running an illegal gambling operation, the state attorney generals office said on Thursday.　　The order bars Kalshi from offering, accepting or facilitating wagers on sports, elections, politics, entertainment, culture, tech and science, and on “mentions,” where users bet on whether a public figure will say particular words. It must have an IP address and residency-based geofence in place by August 19 and a multi-source geofencing system by September 2. The attorney generals office said the categories cover a substantial part of a business “increasingly driven” by sports.　　Attorney General Nick Brown said Kalshi had “gotten rich promoting wagers on sports, elections, natural disasters” and events tied to

08-14Industry

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