18 Jul 2025, 15:29

CMB Announces New Cryptocurrency Lists! "Restrictions Imposed on 10 Cryptocurrency Exchanges!"

The Capital Markets Board (CMB) has published new lists, revealing which cryptocurrency platforms are still operating in the Turkish market and which have withdrawn. At this point, as the CMB's deadline for license applications for cryptocurrency service providers passed on June 30, more companies were added to the liquidation list. With the June 30 deadline passing, the total number of companies applying for liquidation has risen to 45. Among the companies that decided to cease their activities in the cryptocurrency field were Bitfinex, Coinbase Turkey, and QNB, as well as Bitget Türkiye. With the latest update, the number of companies on the List of Active Companies decreased to 60. In the latest published list, Türkiye's leading banking institutions Akbank, Garanti Bank, İş Bank and Yapı Kredi were among the institutions that applied for a cryptocurrency custody license. In addition, the CMB announced that it had taken a significant restriction decision against 10 cryptocurrency service providers whose license application process was ongoing at the meeting held on July 17, 2025. These companies included Arbitex, GMS Global, Gümüş Global, Kriptrade, MEXC, Necen, Ovro, Rootech, Web3, and Yuex. The Capital Markets Board (SPK) stated that these companies will not accept new clients until further notice and will only be allowed to process transactions for existing clients. “Regarding Arbitex, GMS Global, Gümüş Global, Kriptrade, Mexc, Necen, Ovro, Rootech, Web3 and Yuex; at our Board meeting dated 17.07.2025 and numbered 40, it was decided that the relevant Platforms would not accept new customers until further notice and would only allow transactions to be carried out by existing customers.” *This is not investment advice. Continue Reading: CMB Announces New Cryptocurrency Lists! "Restrictions Imposed on 10 Cryptocurrency Exchanges!"

18 Jul 2025, 15:26

Backpack Launches FTX Debt Marketplace for Creditors to Sell Claims to Third-Party Buyers

Backpack Exchange has launched a non-profit claims sale channel enabling FTX creditors to sell their bankruptcy claims to third-party buyers, offering an alternative to waiting for the official distribution process that has already returned $6.2 billion across two major payment rounds. The platform offers a complete one-stop process, encompassing identity verification, claims validation, offer confirmation, and settlement payment, all without charging any fees. Backpack stated that it will not profit from the service, and the marketplace will just be a means of assistance to the crypto community following its own $14.5 million loss on FTX. Backpack 正式开放 FTX 债权出售通道… pic.twitter.com/QkqwXFC4nD — Backpack中文 (@Backpack_CN) July 18, 2025 Restricted Jurisdiction Claims Create Market Uncertainty The launch comes as FTX creditors face uncertainty over claims in 49 restricted jurisdictions , with Chinese users accounting for 82% of the disputed $800 million total value. The FTX Recovery Trust is seeking court approval to treat these claims as disputed until legal opinions determine the feasibility of distribution. Backpack warned that selling claims involves opportunity costs, noting that creditors who continue holding may receive higher compensation in future distributions. This comes after the exchange has acquired FTX EU and plans to oversee fund distribution to European customers under the Backpack EU brand, launching in Q1 2025. The marketplace addresses growing secondary market demand as FTX creditors seek immediate liquidity rather than waiting for future distributions that could extend through 2025. Current distribution rates range from 54% to 120% depending on claim categories, with convenience claims under $50,000 receiving full reimbursement plus 9% annual interest. FTX Recovery Progress Faces Geographic Distribution Challenges FTX has distributed $6.2 billion across two major payment rounds since beginning repayments in February 2025 . The first distribution totaled $1.2 billion for convenience class creditors with claims under $50,000, while the second distribution, which reached $5 billion, was made for larger claimants in May . Dotcom Customer Entitlement Claims received 72% distributions, while US Customer Entitlement Claims received 54% payouts. General Unsecured Claims and Digital Asset Loan Claims both received 61% distributions, with convenience claims receiving a full 120% reimbursement, including interest. The Recovery Trust now seeks to dispute claims from 49 restricted jurisdictions, including China, Russia, Iran, North Korea, and 45 other nations where local laws prohibit crypto trading or where FTX lacked proper licensing. Affected creditors receive a 45-day notice period to object to their jurisdiction’s restricted status. Chinese creditors are mobilizing legal challenges , arguing that mainland China recognizes the commodity attributes of cryptocurrency and permits residents to hold digital assets. A Chinese creditor of @FTX_Official has pushed back against a proposal that could cut off creditor distributions to users in certain jurisdictions. #China #FTX https://t.co/bI8IrOEdWz — Cryptonews.com (@cryptonews) July 10, 2025 One creditor stated that while China doesn’t support crypto trading, USD settlements should be legally permissible for overseas holdings. Weiwei Ji, representing over 300 Chinese creditors, filed objections claiming $15 million across four KYC-verified accounts. Ji argued that China’s inclusion as a restricted jurisdiction “ is unsupported by either fact or law, ” citing Hong Kong-based distribution mechanisms as precedent. Backpack’s Strategic Position in FTX Recovery Ecosystem Backpack’s acquisition of FTX EU, approved by the FTX bankruptcy court and the Cyprus Securities and Exchange Commission, positions the exchange as a key player in the recovery process. The company will oversee the distribution of funds to FTX EU customers as part of the court-approved bankruptcy claims process. The acquisition faced ownership disputes, with the FTX estate claiming that share transfers to the original founders, Patrick Gruhn and Robin Matzke, had not been completed. Backpack maintains that the sale was finalized in June 2024 following regulatory approval from CySEC after rigorous due diligence. The company emphasized customer restitution as critical to rebuilding industry trust, stating that returning funds quickly and safely remains the primary objective. Sam Bankman-Fried remains imprisoned until December 2044 after receiving a 25-year sentence for fraud charges. Sam Bankman-Fried has been relocated to Terminal Island, a federal facility in California where Al Capone and Charles Manson were once imprisoned. #SBF #FTX https://t.co/FqUQ7vyPvQ — Cryptonews.com (@cryptonews) April 18, 2025 He was recently transferred to the low-security Federal Correctional Institution Terminal Island in Los Angeles , while accomplices Caroline Ellison and Ryan Salame received prison sentences. The Justice Department continues seeking the return of $13.25 million in political contributions linked to former FTX executives, with ongoing negotiations involving various political action committees extending through 2025. The post Backpack Launches FTX Debt Marketplace for Creditors to Sell Claims to Third-Party Buyers appeared first on Cryptonews .

18 Jul 2025, 15:21

BTC’s Upwards Trajectory is Unshaken, But Few Altcoins Will Perform Well – Coinbase and Glassnode

Despite potential risks, Bitcoin (BTC) is likely to continue rising this year, though the same can’t be said for the vast majority of altcoins, according to the latest Charting Crypto report, a joint publication of Coinbase Institutional and Glassnode , reflecting data until 30 June, 2025. Companies are increasingly investing in crypto for their treasuries , particularly in BTC. This creates “a meaningful new source of demand.” Leveraged funding of crypto purchases could present risks related to forced or motivated discretionary selling over the medium- to long-term, the report states. However, the analysts argue this shouldn’t be a problem in the short term. “We’re confident about bitcoin’s upward trajectory even in the face of such risks, but we think only select altcoins may perform well depending on their idiosyncratic circumstances.” Meanwhile, the analysts noted that major tokens surged from their 2025 lows sooner than expected. Bitcoin hit new all-time highs in May and July. “We think there could be more upside in the quarter ahead,” they said. There are several factors that have led to this conclusion. The report named increased crypto adoption by corporate treasuries, as well as several US-related factors. The latter includes beneficial regulatory developments, an optimistic outlook for economic growth, the potential for Federal Reserve rate cuts, and the cooling of the tariff-related concerns. “Going forward, risk sentiment should broadly benefit from the US government’s pivot towards more market-friendly policies,” the report argued. Thanks to you, the CLARITY Act just passed Congress with a huge bipartisan majority. Next stop: Senate. pic.twitter.com/o6XhwLrfLw — Coinbase (@coinbase) July 17, 2025 Moreover, when it comes to regulations in the US, 2025 policies have become largely crypto-friendly. Notably, just this week, three key pieces of crypto legislation – the GENIUS Act, CLARITY Act, and Anti-CBDC Act – passed the House of Representatives. This “unprecedented shift [is] setting the stage for what could be a transformative period for digital assets.” Finally, as the quarter began and the US announced the massive global tariffs , risk assets were in retreat, says the report. It adds that “the peak of the macro disruption caused by the tariff saga is now behind us.” You may also like: (LIVE) Crypto News Today: Latest Updates for July 18, 2025 –XRP Hits All-Time High Above $3.6, ETH Trades at $3.6K as Crypto Bills Clear House The global crypto market is in full bull mode, total capitalization has surged past the $4 trillion threshold, led by a fresh wave of altcoin strength. XRP surged past its all-time high above $3.6 today. ETH is up nearly 8% in the past 24 hours, trading near $3,600. Bitcoin also broke above $120k barrier. Fueling the rally are major developments in Washington: the U.S. House has just cleared three critical crypto bills, including the GENIUS Act regulating stablecoins with the Senate having... Bitcoin Dominance Increases, Nearly Entire Supply in Profit – Coinbase and Glassnode Find Bitcoin dominance was rising in the second quarter of this year, reaching 64% by 30 June. This is “just shy of its four-year high of 65%,” says the report. Ethereum’s and Solana’s share of the total crypto market cap also increased in this period, with investor interest in blue-chip tokens rising. At the time of writing on Friday noon (UTC), Bitcoin dominance stands at 61.7% . Source: TradingView Meanwhile, the report found that Bitcoin’s liquid supply (coins moved within three months) increased 12% in the second quarter. Illiquid supply (coins unmoved in more than a year) fell 2%. The latter suggests that “most long-term BTC owners continued to hold their coins even as prices moved above $100,000.” Also, the amount of supply in profit recovered from below 75% to nearly 100% in the same period. By quarter end, nearly the entire supply of BTC was in profit. Source: Charting Crypto by Coinbase Institutional and Glassnode For ETH, the percentage in profit rose from under 40% to nearly 90% in Q2. ETH liquid supply rose 8% and illiquid supply fell 6%. This suggests that “some long-term holders used market strength as an opportunity to sell to newer entrants.” Also, at the end of Q1, more than 40 million ETH were in loss, but at the end of Q2, this was less than 10 million. Meanwhile, going back to BTC, investor sentiment reversed from anxiety to optimism. This happened “as global trade tensions receded and macroeconomic data exhibited strength.” Also, ETH hit the capitulation stage in Q1, but it rallied strongly in Q2, the report added. Lastly, analysts found that crypto continued showing low or negative correlations with other asset classes. However, BTC’s correlation with US stocks went up from 0.40 to 0.55. Correlations with the broader COIN50 index are unchanged. That said, in Q2, “Bitcoin has continued to outperform traditional assets on a risk-adjusted basis, as US fiscal developments have helped strengthen the coin’s store-of-value narrative.” Consequently, “institutional investors and corporates increased their allocations to BTC,” the report concludes. You may also like: Why Is Crypto Up Today? – July 18, 2025 The cryptocurrency market capitalization has surpassed $4 trillion, now standing at $4.01 trillion. This follows significant increases in individual crypto prices. The market is up today, with 96 of the top 100 coins per market cap appreciating over the past 24 hours. At the same time, the total crypto trading volume is at $284 billion, the highest it’s been in a while.Crypto Winners & LosersAt the time of writing, all the top 10 coins per market cap are still green.Bitcoin... The post BTC’s Upwards Trajectory is Unshaken, But Few Altcoins Will Perform Well – Coinbase and Glassnode appeared first on Cryptonews .

18 Jul 2025, 15:15

UNI and COMP: Astounding $70M Accumulation Unveiled by New Crypto Whale

BitcoinWorld UNI and COMP: Astounding $70M Accumulation Unveiled by New Crypto Whale The world of decentralized finance (DeFi) is constantly abuzz with activity, and few events capture the market’s attention quite like the movements of large, influential investors – often referred to as ‘whales.’ Recently, a newly established wallet has sent ripples across the crypto community, making an astonishing move that signals a significant crypto accumulation . Over the past ten days, this mysterious entity strategically withdrew substantial amounts of UNI token and COMP token , totaling a staggering $70 million, directly from Binance Exchange. This isn’t just a casual purchase; it’s a deliberate and massive acquisition that begs the question: what’s behind this colossal play? What’s Behind This Massive UNI Token Accumulation? According to on-chain analytics firm Lookonchain, which shared its findings on X (formerly Twitter), the wallet in question executed a series of calculated withdrawals. Specifically, it acquired 5.41 million UNI tokens, the native governance token of Uniswap, the leading decentralized exchange. At the time of the reported transactions, this portion alone was valued at an impressive $57.79 million. Such a large acquisition of UNI token is highly noteworthy for several reasons: Governance Power: Holding millions of UNI grants significant voting power within the Uniswap decentralized autonomous organization (DAO). This allows the holder to influence critical decisions regarding the protocol’s future, fee structures, upgrades, and treasury management. DeFi Ecosystem Bet: Uniswap is a cornerstone of the DeFi ecosystem. A substantial investment in UNI indicates strong belief in the continued growth and dominance of decentralized exchanges and the broader DeFi landscape. Liquidity Provisioning: While not confirmed, a large holder might intend to provide significant liquidity to Uniswap pools, earning trading fees and potentially boosting the protocol’s liquidity depth. This kind of move suggests a long-term bullish outlook on Uniswap’s trajectory and its pivotal role in the future of finance. Why the Strategic COMP Token Play? But the wallet’s activity didn’t stop at UNI. It also strategically acquired 228,704 COMP token , the governance token for Compound, another foundational DeFi protocol. This acquisition was valued at approximately $12.15 million. The decision to accumulate COMP alongside UNI is particularly intriguing: Lending and Borrowing Dominance: Compound is a leading decentralized lending and borrowing platform. Accumulating COMP signifies confidence in the decentralized credit markets and Compound’s position within them. Diversified DeFi Exposure: By investing in both UNI (DEXs) and COMP (lending/borrowing), the whale is building a diversified portfolio within core DeFi primitives, spreading exposure across different, yet interconnected, sectors. Yield Opportunities: COMP holders can participate in yield farming strategies or stake their tokens to earn rewards, potentially making this a yield-generating play in addition to a governance one. The dual acquisition of these prominent DeFi governance tokens suggests a sophisticated understanding of the DeFi landscape and a deliberate strategy to gain significant influence and exposure within its most critical components. Decoding the DeFi Whale’s Binance Withdrawal Strategy One of the most crucial aspects of this event is that the tokens were withdrawn from Binance, the world’s largest cryptocurrency exchange. A Binance withdrawal of this magnitude carries significant implications: When large amounts of cryptocurrency are held on an exchange, they are typically there for active trading or short-term speculation. However, moving such a substantial sum off an exchange, into a newly created private wallet, usually indicates a few key intentions: Long-Term Holding (HODLing): This is perhaps the most common interpretation. By moving assets off-exchange, the holder signals an intention to hold these tokens for an extended period, rather than actively trading them. This reduces counterparty risk associated with holding funds on an exchange. Increased Security: Self-custodying assets in a private wallet (especially a cold wallet) offers a higher degree of security against exchange hacks or regulatory risks. Staking or DeFi Participation: Tokens like UNI and COMP can be staked or locked into various DeFi protocols to earn rewards, participate in governance, or provide liquidity. To do this, they must be in a private wallet. The Binance withdrawal could be a precursor to such activities. Reduced Selling Pressure (Initially): When tokens are withdrawn from an exchange, they are typically not immediately available for sale, at least not in large quantities. This can temporarily reduce selling pressure on the market. The fact that this was a new wallet further adds to the intrigue, suggesting a fresh entry or a strategic reshuffling of assets by an existing large player. Understanding Crypto Accumulation: What Does it Mean for the Market? Crypto accumulation , especially by large entities, is often seen as a bullish signal. When whales accumulate, it suggests they believe the asset’s price will appreciate significantly in the future. Here’s a breakdown of what such an accumulation could imply: Aspect Implication of Accumulation Potential Impact Market Sentiment Boosts confidence, as large players are buying. Can encourage smaller investors to buy, creating upward price momentum. Supply Dynamics Removes tokens from circulating supply (especially if held off-exchange). Reduces immediate selling pressure, potentially leading to scarcity and price increases. Future Price Action Indicates a long-term bullish outlook from sophisticated investors. While not a guarantee, often precedes periods of price appreciation if the accumulation continues. Market Maturity Shows institutional or high-net-worth interest in DeFi. Contributes to the legitimization and mainstream adoption of decentralized finance. It’s important to remember that while accumulation is generally positive, it doesn’t guarantee future price movements. Whales can also influence markets through large sell-offs, but the current action points towards a holding strategy. The Potential Impact of This DeFi Whale on Uniswap and Compound The presence of a new DeFi whale holding such substantial amounts of UNI and COMP could have several ramifications for both protocols and the broader DeFi ecosystem: Enhanced Governance Participation: With significant voting power, this whale could actively participate in or even steer critical governance proposals for Uniswap and Compound, shaping their future development. Increased Liquidity and Stability: If the tokens are used for staking or liquidity provision, it could add to the protocols’ overall liquidity and stability, making them more robust. Market Signal: The sheer size of this investment sends a strong signal to the market that major players see significant value and growth potential in these established DeFi protocols. This could attract further institutional or large-scale retail investment. Potential for Volatility: While currently a bullish signal, the eventual actions of such a large holder can also introduce volatility. A sudden decision to sell, though unlikely for a long-term accumulator, could impact market prices. For investors, tracking such whale movements can provide valuable insights into market sentiment and potential future trends, but should always be combined with thorough personal research. This astounding crypto accumulation of $70 million in UNI and COMP tokens from Binance by a newly formed wallet is more than just a transaction; it’s a powerful statement. It underscores a profound conviction in the enduring value and future growth of core decentralized finance protocols. Whether this DeFi whale is an individual, an institution, or a fund, their strategic positioning in two of DeFi’s most prominent assets — Uniswap and Compound — signals a long-term bullish outlook that bears close watching. This event serves as a vivid reminder of the significant capital flows shaping the decentralized financial landscape and the growing confidence in its foundational pillars. Frequently Asked Questions (FAQs) Q1: What is a “whale wallet” in cryptocurrency? A “whale wallet” refers to a cryptocurrency wallet that holds a very large amount of a particular digital asset. These holders are called “whales” because their substantial holdings can significantly influence market prices and sentiment with their buy or sell orders. Q2: Why is a large withdrawal from Binance significant? A large withdrawal from an exchange like Binance often indicates that the holder intends to keep the assets for the long term (HODL) rather than trade them frequently. It also suggests a move towards self-custody for enhanced security or to participate in decentralized finance (DeFi) activities like staking or governance that require tokens to be in a private wallet. Q3: What are UNI and COMP tokens? UNI token is the native governance token of Uniswap, the largest decentralized exchange (DEX) by trading volume, allowing holders to vote on protocol changes. COMP token is the governance token for Compound, a leading decentralized lending and borrowing protocol, granting holders similar voting rights over its future. Q4: Does this accumulation guarantee a price increase for UNI and COMP? While a large crypto accumulation by a whale is often seen as a bullish signal, it does not guarantee a price increase. Market prices are influenced by many factors, including broader market trends, regulatory news, technological developments, and overall supply and demand dynamics. Whale movements are one indicator among many. Q5: How can I track such large crypto movements? On-chain analytics platforms like Lookonchain (as cited in the article), Arkham Intelligence, Nansen, and Whale Alert provide tools and data to track large cryptocurrency transactions and identify significant wallet movements across various blockchains. If you found this analysis insightful, please share it with your network! Help us spread the word about significant developments shaping the crypto landscape. Your shares empower more people to understand the complex world of digital assets. To learn more about the latest crypto market trends, explore our article on key developments shaping Decentralized Finance institutional adoption. This post UNI and COMP: Astounding $70M Accumulation Unveiled by New Crypto Whale first appeared on BitcoinWorld and is written by Editorial Team

18 Jul 2025, 15:05

Binance’s CZ Proposes Dark Pool DEX as Web3 Faces Institutional Trading Privacy Challenges

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18 Jul 2025, 15:05

Burned by Mistake? Coinbase Exec Explains Shocking $112,745 ETH Fee

Staggering 31 ETH worth $112,745 paid for single transaction