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21 May 2026, 15:55

Bithumb blocks Heleket over money laundering, terrorism financing concerns

South Korea’s second-largest crypto exchange, Bithumb, has severed ties with Heleket, a global cryptocurrency payment processor, due to anti-money laundering and terrorism financing risks. The news arrives as Bithumb works to improve its compliance record after South Korean regulators dropped a 36.8 billion won ($24.6 million) fine against the exchange earlier this year for processing tens of thousands of transactions through unregistered foreign platforms. Why did Bithumb cut ties with Heleket? The decision to drop Heleket was not random. Blockchain intelligence firm TRM Labs published research last month assessing “with high confidence” that Heleket and Cryptomus, a Russia-linked payment processor, are operationally connected through shared infrastructure, personnel, branding, and on-chain activity. TRM Labs reported that the initial liquidity into Heleket’s wallets came from Garantex. Source: TRM Labs. TRM’s analysis also discovered that Heleket was established in January 2025, just after Cryptomus introduced mandatory know-your-customer (KYC) controls that drove its on-chain volume down from $153 million in January 2025 to $86 million by March. The timing suggests Heleket was built to attract the users fleeing Cryptomus’s new KYC requirements. In October 2025, Cryptomus was hit with a record-breaking fine of around CAD 177 million by Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) for violating money laundering and terrorist financing laws. TRM also observed that between 2022 and 2025, Cryptomus had become a major hub for illegal activities, processing hundreds of millions of dollars for child pornography vendors, terrorist financing networks, and others trying to bypass international sanctions through the now-blacklisted Russian exchange Garantex. Cryptomus was fined in Canada for violating money laundering and terrorist financing laws. Source: TRM Labs. According to TRM Labs’ data, Heleket’s own illegal exposure was about five times the average recorded across payment service providers. The first major liquidity that flowed into Heleket came directly from Garantex, which is an unusual pattern for any service claiming to operate within European Union regulations. Heleket’s AML/KYC policy on its website states it will not cooperate with individuals on designated sanctions lists while claiming that it verifies customer identities. TRM, however, noted that users can complete transactions on the platform without providing any identity documentation, which is a direct contradiction of their public procedures. Bithumb has its own compliance problems Bithumb’s decision to cut off Heleket is part of a broader trend of forced compliance upgrades at the exchange. According to Cryptopolitan , South Korea’s Financial Intelligence Unit (FIU) caught approximately 6.65 million violations of the Specific Financial Information Act on Bithumb, including processing 45,772 transactions with unregistered foreign crypto platforms without properly verifying customer identities. The FIU also imposed a six-month partial business suspension alongside the fine back in March. However, Bithumb immediately fought back in court, and on April 30, the Seoul Administrative Court’s 2nd Division granted an injunction that paused the suspension while the legal dispute continues. To make things worse for Bithumb, the Financial Services Commission (FSC) in a separate investigation found “deficiencies in Bithumb’s internal control system” during an investigation into an earlier incident in February where a staffer accidentally sent out 620,000 Bitcoins instead of 620,000 won during a promotional payout. This error was worth roughly $40 billion, according to Cryptopolitan . As a result, the FSC has tightened regulations for all major South Korean exchanges, requiring them to perform reconciliation checks every five minutes, implement automatic trading halts for major mismatches, and conduct monthly audits. If you're reading this, you’re already ahead. Stay there with our newsletter .

21 May 2026, 15:30

Bitget Doubles Down on Youth Skills: Funds Financial Literacy and AI for UNICEF Coalition

Bitget has extended its support for UNICEF’s Game Changers Coalition (GCC) into a second year, backing the initiative as it adds financial literacy and AI modules to its curriculum and prepares blockchain content for 2026. The coalition: run by UNICEF’s Office of Innovation has already reached more than 642,000 young people, parents, and teachers across eight countries (Armenia, Brazil, Cambodia, India, Kazakhstan, Malaysia, Morocco, and South Africa). It targets underserved communities and emphasizes gender balance: girls make up roughly 52% of participants to date. What Bitget is Bitget is a global crypto trading platform that positions itself as a Universal Exchange (UEX), combining access to cryptocurrencies, tokenized assets, and traditional financial products in one account. The company supports AI-driven trading tools and runs consumer-facing products like Bitget Wallet. Bitget joined the GCC in June 2025 through UNICEF Luxembourg and says education and digital inclusion are central to its mission as the crypto industry scales. Access Bitget here . What’s changing in year two Curriculum expansion: Bitget’s renewed support will help GCC roll out new financial literacy and AI modules, with blockchain-focused content slated for next year. The modules aim to give practical, career-oriented digital skills to young people in emerging economies. Geographic growth: The coalition plans to expand into three additional countries, broadening its regional reach and community programs. Ongoing engagement: Bitget will continue field visits, executive participation, and support for coalition-led events, building on activations from the first year such as a delegation visit to Cambodia and Bitget’s involvement in the UNICEF Game Jam. Why it matters The move reflects growing emphasis on practical digital skills: not just technology awareness in regions where young people are often mobile-first but underserved by formal tech education. By funding curriculum development and in-person programs, Bitget and UNICEF aim to convert interest into pathways for employment, entrepreneurship, and broader participation in the digital economy. A quote from the partnership“Technology is becoming part of everyday life faster than education systems can adapt,” Bitget CEO Gracy Chen said. She added that the goal is to build confidence and long-term digital and financial literacy that create opportunities beyond crypto. Thomas Davin, Global Director at UNICEF’s Office of Innovation, emphasized the coalition’s role in equipping youth with practical skills and noted that partnerships like Bitget’s help scale the program’s reach. Context and next steps The expansion aligns with Bitget’s wider education-focused initiatives and its public partnerships with organizations like LALIGA and MotoGP™, and with UNICEF to broaden blockchain and digital skills. The second-year funding will support curriculum rollout, fieldwork, and a larger footprint for GCC as it brings financial literacy and AI training to new communities.

21 May 2026, 15:05

British Pound Under Pressure: UK Support Plan and Soft PMIs Weigh, Says BNY

BitcoinWorld British Pound Under Pressure: UK Support Plan and Soft PMIs Weigh, Says BNY The British pound is facing renewed headwinds as a combination of a UK government support plan and softer-than-expected Purchasing Managers’ Index (PMI) data dampen investor sentiment, according to analysts at BNY. The currency’s recent struggles highlight the delicate balance between fiscal support measures and underlying economic momentum. BNY’s Assessment of Sterling’s Weakness In a note to clients, BNY’s foreign exchange research team pointed to two primary factors weighing on the pound. First, the UK government’s latest support plan, while aimed at bolstering economic stability, has raised questions about its long-term fiscal sustainability. Second, preliminary PMI readings for March came in below consensus forecasts, signaling a potential slowdown in both services and manufacturing activity. The combination has created a cautious mood among currency traders, with sterling giving back some of the gains it made earlier in the year. BNY noted that the market is now pricing in a higher probability of the Bank of England adopting a more accommodative stance in upcoming meetings, which could further pressure the pound. Market Implications and Broader Context The pound’s weakness is part of a broader trend affecting several major currencies as global growth concerns resurface. However, the UK’s specific challenges — including sticky inflation and a tight labor market — make sterling particularly vulnerable to shifts in risk appetite. BNY’s analysis suggests that unless the UK’s economic data improves markedly in the coming weeks, the pound may struggle to regain its footing. The firm also highlighted that political uncertainty surrounding the implementation of the support plan adds another layer of complexity for investors. What This Means for Traders and Businesses For forex traders, the current environment demands a focus on upcoming UK economic releases, particularly GDP figures and consumer spending data. Businesses with exposure to sterling should consider hedging strategies to manage volatility. Importers may face higher costs if the pound continues to weaken, while exporters could benefit from more competitive pricing abroad. Conclusion The British pound’s recent decline, driven by a combination of fiscal policy concerns and soft economic data, underscores the challenges facing the UK economy. BNY’s analysis provides a timely reminder that currency markets are closely attuned to the interplay between government action and economic fundamentals. Investors should monitor upcoming data releases and central bank signals for further direction. FAQs Q1: Why is the British pound weakening? The pound is under pressure due to a UK government support plan that raises fiscal sustainability concerns, combined with softer-than-expected PMI data indicating economic slowdown. Q2: What is BNY’s outlook for the pound? BNY analysts suggest sterling may continue to face headwinds unless UK economic data improves significantly, and they see a higher probability of the Bank of England adopting a more accommodative policy. Q3: How does this affect UK businesses? Importers may face higher costs from a weaker pound, while exporters could benefit from more competitive pricing. Businesses with currency exposure should consider hedging strategies. This post British Pound Under Pressure: UK Support Plan and Soft PMIs Weigh, Says BNY first appeared on BitcoinWorld .

21 May 2026, 14:37

Bybit Launches SPCXUSDT Pre-IPO Perpetual Contract with up to 10x Leverage Ahead of SpaceX’s Blockbuster IPO

21 May 2026, 14:30

Anonymous Whale Moves $11.6 Million in HYPE From Bybit as Hyperliquid Hits Record High

BitcoinWorld Anonymous Whale Moves $11.6 Million in HYPE From Bybit as Hyperliquid Hits Record High A newly created anonymous wallet address has withdrawn 198,535 HYPE tokens, valued at approximately $11.62 million, from the Bybit exchange. The transaction occurred as Hyperliquid (HYPE) reached a new all-time high, with the token currently trading at $59.32 — a 16.02% increase on the day, according to CoinMarketCap. Large Withdrawal Signals Potential Long-Term Holding Blockchain data shows the recipient address, beginning with 0x41Ad, was created shortly before the withdrawal. Large token movements from centralized exchanges to newly generated wallets are often interpreted by market observers as a signal of accumulation and an intention to hold the asset for an extended period, rather than for immediate trading. The timing of the withdrawal coincides with a strong bullish phase for HYPE. Hyperliquid, a decentralized perpetual exchange built on its own Layer 1 blockchain, has seen its native token rally sharply in recent weeks amid growing trading volume and ecosystem activity. Market Context and Implications While a single large withdrawal does not necessarily indicate a market-wide trend, such moves are closely watched by traders and analysts. Outflows of this magnitude from exchanges can reduce the available supply on trading platforms, potentially contributing to upward price pressure if demand remains steady. It is worth noting that the address in question is anonymous and has no prior transaction history. Without additional on-chain activity, the ultimate intent of the wallet owner remains speculative. The cryptocurrency market often sees large holders — commonly referred to as whales — move funds for reasons that include personal custody, staking, or participation in decentralized finance protocols. Why This Matters for HYPE Holders For retail investors and traders, large exchange withdrawals can serve as a sentiment indicator. When significant amounts of a token are moved off exchanges, it may suggest that sophisticated investors are positioning for a longer-term hold rather than preparing to sell. However, the anonymity of the new wallet means that this move should be interpreted with caution, as on-chain data alone cannot confirm the identity or strategy of the holder. Conclusion The $11.6 million HYPE withdrawal from Bybit adds to the narrative of growing confidence in Hyperliquid’s native token amid its recent price rally. While the move aligns with bullish sentiment, the lack of transparency around the new address means the market will be watching for further on-chain activity to determine whether this is a one-time event or the beginning of a larger accumulation trend. FAQs Q1: What does a large withdrawal from an exchange typically indicate? A: Large withdrawals from exchanges are often interpreted as a signal that the holder intends to store the tokens in self-custody for the long term, rather than trade them. This can reduce available supply on exchanges and is sometimes seen as a bullish signal. Q2: Is the anonymous address behind this withdrawal identifiable? A: No. The address starting with 0x41Ad is newly created and has no prior transaction history. Without additional on-chain or off-chain data, the identity and intent of the wallet owner remain unknown. Q3: How has HYPE performed recently? A: As of the latest data, HYPE is trading at $59.32, up 16.02% on the day, and has reached a new all-time high. The token has seen strong momentum driven by increased activity on the Hyperliquid platform. This post Anonymous Whale Moves $11.6 Million in HYPE From Bybit as Hyperliquid Hits Record High first appeared on BitcoinWorld .

21 May 2026, 14:23

Bybit Launches SPCXUSDT Pre-IPO Perpetual Contract with up to 10x Leverage Ahead of SpaceX’s Blockbuster IPO

Dubai, United Arab Emirates, May 21st, 2026, Chainwire Bybit , the world’s second-largest cryptocurrency exchange by trading volume, today announced the listing of the SPCXUSDT Perpetual Contract , offering leveraged exposure to SpaceX (SPCX) before its highly anticipated initial public offering on June 12, 2026. The contract is now live on the platform with up to 10x leverage, providing early access to one of the most transformative technology companies in modern times. This launch coincides with SpaceX's historic IPO on the horizon. According to official filings, SpaceX is targeting a valuation of over $1.75 trillion to $2 trillion, and plans to raise approximately $75 billion in what would become the largest initial public offering in capital market history, surpassing Saudi Aramco's previous record of $29.4 billion set in 2019. SpaceX has fundamentally transformed the aerospace industry, reducing launch costs by orders of magnitude through its reusable rocket technology. Starlink, SpaceX's satellite internet service, has grown to over 8 million active subscribers worldwide and generated approximately $7.7 billion in 2024 revenue. The company recently acquired xAI, Elon Musk's AI venture, creating a vertically integrated enterprise spanning space exploration and satellite technology with AI. The valuation reflects SpaceX's position as a defining force in both aerospace and AI-driven connectivity. The underlying asset of Bybit’s SPCXUSDT perpetual contract is SPCX settled in USDT. Offering 24/7 access, the contract allows up to 10x leverage. The total estimated share count is 11.87 billion shares. The SPCXUSDT listing reinforces Bybit's commitment to supporting traders with early access to transformative investment opportunities. By bringing pre-IPO exposure to SpaceX, Bybit enables its global community to participate in high-growth markets and remain at the cutting edge of technological innovation. Bybit's perpetual contract offers traders multiple advantages over traditional equity markets: 24/7 Trading: Around-the-clock access, unrestricted by traditional market hours High Leverage: Up to 10x leverage, enabling capital-efficient trading strategies Zero Expiration: Perpetual contracts provide unlimited holding periods without rollover Advanced Tools: Professional-grade charting, analytics, and risk management features Institutional-Grade Security: Professional custody and insurance protections Terms and conditions apply. Trading carries risk. Bybit's products and services may not be available in all jurisdictions. For more information on contract details, eligibility and potential restrictions, users may visit: New listing: SPCXUSDT Pre-IPO Perpetual Contract, with up to 10x leverage #Bybit / #CryptoArk / #NewFinancialPlatform About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 80 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com . For more details about Bybit, please visit Bybit Press For media inquiries, please contact: [email protected] For updates, please follow: Bybit's Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube ContactHead of PRTony [email protected] Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.