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21 Mar 2026, 05:00

UK Moves To Shut Down Crypto Exchange Tied To Iran’s Military

A blockchain analytics firm found that nearly 90% of money processed by a UK-registered crypto exchange in 2024 was connected to Iran’s most powerful military organization. A Billion Dollars And A Fake Boss TRM Labs, which tracks cryptocurrency flows, reported that Zedxion Exchange and a related platform called Zedcex moved roughly $1 billion tied to Iran’s Islamic Revolutionary Guard Corps (IRGC). In 2024, IRGC-linked payments made up about 87% of all transactions the two exchanges handled. Even as that share fell to roughly 48% in 2025, the raw dollar amounts connected to the Iranian military group remained massive. Now the UK is shutting the exchange down. Britain’s Companies House — the government body that registers businesses — has started a compulsory strike-off against Zedxion Exchange Ltd. Authorities say the company filed false information, including listing a director who never existed. Stock Photo, Fake Name, Real Money The fictitious director was registered under the name Elizabeth Newman, listed as a citizen of the Dominican Republic. An investigation by the Organized Crime and Corruption Reporting Project (OCCRP) found that the woman behind the name was likely manufactured entirely — her image in company marketing videos traced back to a stock photo. Before Newman appeared in company records, a man named Babak Morteza held the director position. His details matched those of Babak Zanjani, an Iranian businessman who had previously been sentenced to death in Iran for stealing state oil funds. That sentence was reduced in 2024, and Zanjani resumed business operations. Morteza was listed as director and the person with significant control of Zedxion from October 2021 to August 2022. Zanjani is also said to head DotOne Holding Group, a conglomerate with operations across cryptocurrency, foreign exchange, logistics, and telecommunications — sectors that have been used in the past to sidestep international sanctions. Washington Acted First The UK crackdown follows US sanctions imposed in January by the Treasury Department’s Office of Foreign Assets Control (OFAC). Both Zedxion and Zedcex were named in that action. OFAC said Zanjani helped fund projects supporting the IRGC and the Iranian government more broadly. Company filings for the two exchanges also showed dormant accounts, a detail that stood in sharp contrast to the enormous transaction volumes blockchain analysts traced through them. The UK passed the Economic Crime and Corporate Transparency Act in 2023, giving Companies House new authority to verify the identities of directors and check that registered businesses were set up for lawful purposes. The Zedxion case marks one of the more visible uses of those powers. Featured image from Unsplash, chart from TradingView

21 Mar 2026, 03:00

Shiba Inu (SHIB) +200 Billion Exchange Inflow Threshold is Extremely Close: 24 Hours Increase

Shiba Inu seeing substantial inflow of funds on exchanges, which is not a good sign ahead of the weekend.

21 Mar 2026, 02:40

Coinbase New York Trading Expansion Unlocks ATH, RAY, NCT, and STRK in a Landmark Move

BitcoinWorld Coinbase New York Trading Expansion Unlocks ATH, RAY, NCT, and STRK in a Landmark Move In a significant development for the New York cryptocurrency market, Coinbase announced on X that it has officially enabled trading for four new digital assets: Aethir (ATH), Raydium (RAY), PolySwarm (NCT), and Starknet (STRK). This strategic expansion, confirmed on April 2, 2025, directly increases access to diverse blockchain ecosystems for residents of one of the world’s most stringent regulatory jurisdictions. Consequently, this move signals both Coinbase’s growing asset roster and a maturing relationship with New York regulators. Coinbase New York Trading Adds Four Key Digital Assets Coinbase’s latest announcement specifically enables trading for Aethir (ATH), Raydium (RAY), PolySwarm (NCT), and Starknet (STRK) for its customers in New York. This decision follows a rigorous internal review and compliance process aligned with the New York State Department of Financial Services (NYDFS) BitLicense framework. Each asset represents a distinct sector within the broader digital economy. For instance, Aethir focuses on decentralized cloud computing, while Starknet provides scaling solutions for Ethereum. Therefore, this listing provides New York investors with targeted exposure to infrastructure, DeFi, security, and scaling innovations. The inclusion of these tokens is not an isolated event. It is part of Coinbase’s consistent strategy to broaden its market offerings. The exchange routinely evaluates hundreds of assets based on security, compliance, and project roadmap criteria. Subsequently, only a select few pass the final review for listing in regulated markets like New York. This careful curation aims to balance innovation with investor protection, a principle paramount under the NYDFS. Deep Dive into the Newly Listed Tokens Understanding the utility of each token provides crucial context for this expansion. Below is a brief overview of their core functions: Aethir (ATH): Powers a decentralized cloud computing network designed for graphics-intensive applications like AI and gaming. Raydium (RAY): Serves as the native token of the Raydium automated market maker (AMM) and liquidity provider on the Solana blockchain. PolySwarm (NCT): Facilitates a decentralized marketplace for cybersecurity threat intelligence, allowing experts to monetize findings. Starknet (STRK): The governance token for the Starknet network, a Layer 2 validity rollup scaling solution for Ethereum. These assets collectively highlight a trend towards specialized, utility-driven cryptocurrencies. Unlike earlier cycles dominated by general-purpose currencies, these tokens grant access to specific technological services and governance rights. Their availability on a major, regulated platform like Coinbase potentially enhances their liquidity and mainstream visibility. Regulatory Implications and Market Impact The New York approval carries substantial weight in the crypto industry. The NYDFS BitLicense is notoriously difficult to obtain, creating a high barrier to entry. When an exchange like Coinbase lists a new asset in this jurisdiction, it implicitly signals a level of regulatory comfort. Market analysts often view such listings as a positive signal regarding a project’s long-term compliance posture. Furthermore, it can catalyze similar reviews by other exchanges and financial service providers, creating a network effect of legitimacy. Historically, listings on major U.S. exchanges have led to increased trading volume and price discovery for the involved assets. For New York-based traders and institutions, this expansion directly removes previous access barriers. They can now interact with these ecosystems through a familiar, regulated interface instead of relying on decentralized or international platforms. This accessibility is a key step in the institutional adoption narrative for the specific protocols represented by ATH, RAY, NCT, and STRK. The Path to Listing in a Regulated Market The journey for an asset to become tradable on Coinbase in New York is multifaceted. It extends far beyond technical integration. The process involves exhaustive legal analysis, security audits, and compliance checks. Coinbase’s legal team must ensure each asset does not qualify as an unregistered security under both federal law and New York’s Martin Act. They also conduct deep due diligence on the project’s team, funding, and operational history. Simultaneously, the exchange’s security team assesses the asset’s underlying blockchain for robustness against attacks and reviews the smart contract code for vulnerabilities. This dual-track review—legal and technical—can take several months. The public announcement on X is merely the final step in a lengthy, behind-the-scenes operation. This rigorous approach is a primary reason why New York listings are less frequent but carry more significance than those in less-regulated markets. Conclusion Coinbase’s activation of trading for Aethir (ATH), Raydium (RAY), PolySwarm (NCT), and Starknet (STRK) in New York represents a meaningful evolution for the state’s digital asset landscape. This Coinbase New York trading update provides regulated access to four high-utility tokens from the decentralized compute, DeFi, cybersecurity, and Layer 2 scaling sectors. The move underscores the exchange’s commitment to asset diversification within a strict compliance framework and reflects growing regulatory clarity for specific crypto subsectors. As the market continues to mature, such carefully vetted expansions are likely to set the standard for integrating innovative blockchain projects into the traditional financial fold. FAQs Q1: What exactly did Coinbase announce for New York users? Coinbase announced that residents of New York can now trade four specific cryptocurrencies on its platform: Aethir (ATH), Raydium (RAY), PolySwarm (NCT), and Starknet (STRK). Q2: Why is a New York listing significant for these cryptocurrencies? New York has one of the strictest financial regulatory regimes in the U.S. (the BitLicense). A listing here implies Coinbase and its regulators have conducted thorough due diligence, often boosting the project’s legitimacy and appeal to institutional investors. Q3: Can users in all U.S. states trade these tokens on Coinbase? Not necessarily. While these tokens may be available on Coinbase in many states, availability is subject to state-by-state regulations. The recent announcement specifically confirms access for users whose accounts are registered in New York. Q4: What are the primary use cases for the newly listed tokens? ATH is for decentralized cloud computing, RAY is for Solana-based DeFi and liquidity, NCT is for a decentralized cybersecurity marketplace, and STRK is for governance and fees on the Starknet Ethereum scaling network. Q5: Does this mean these tokens are now “approved” or “legal” in New York? It means Coinbase, a NYDFS-licensed entity, has received the necessary regulatory comfort to offer trading services for these specific tokens to its New York customers. It is an exchange-specific approval under its license, not a blanket endorsement by the state. This post Coinbase New York Trading Expansion Unlocks ATH, RAY, NCT, and STRK in a Landmark Move first appeared on BitcoinWorld .

21 Mar 2026, 02:10

Worldcoin OTC Deal: Shocking $35 Million Transaction Revealed by On-Chain Sleuths

BitcoinWorld Worldcoin OTC Deal: Shocking $35 Million Transaction Revealed by On-Chain Sleuths In a significant development for the digital asset sector, the Worldcoin (WLD) team appears to have orchestrated a major over-the-counter transaction valued at approximately $35 million. On-chain analyst Onchain Lens first identified the potential deal, sparking intense scrutiny across cryptocurrency markets. This transaction involves substantial movements of USDC stablecoin and WLD tokens between major institutional platforms. Consequently, the event raises important questions about market liquidity and strategic treasury management. The analysis provides a clear window into the often-opaque world of large-scale crypto asset transfers. Worldcoin OTC Deal: Dissecting the $35 Million Transaction According to detailed blockchain data, an address associated with Worldcoin project entities received 35 million USDC. This stablecoin inflow originated from two prominent crypto institutions: Binance and FalconX. Subsequently, the same address deposited a massive 117 million WLD tokens to a cryptocurrency exchange. At prevailing market rates, this WLD transfer was worth approximately $38.73 million. Onchain Lens, the analyst who uncovered the activity, suggested the address could belong to a market maker (MM) working on behalf of the project. Market makers provide liquidity by facilitating large trades, often off public order books. Over-the-counter (OTC) trades are private transactions negotiated directly between two parties. They are common for moving large volumes of assets without causing immediate price slippage on public exchanges. For context, a $35 million OTC deal represents a substantial liquidity event. It typically indicates strategic rebalancing, investor onboarding, or treasury diversification. The use of USDC, a fully-regulated dollar-pegged stablecoin, highlights a preference for settlement asset stability. This practice is standard among institutional participants in the crypto economy. Understanding the Mechanics of Cryptocurrency OTC Desks OTC desks serve as crucial infrastructure for the digital asset industry. They enable large investors, projects, and funds to execute sizeable orders discreetly. Unlike retail trades on spot exchanges, OTC transactions do not broadcast limit orders to the public. This confidentiality helps prevent front-running and minimizes market impact. Major exchanges like Binance and specialized firms like FalconX operate robust OTC services. These platforms connect buyers and sellers, often guaranteeing execution prices and providing settlement assurance. The typical process for an OTC deal involves several key steps. First, both parties negotiate the terms, including price, volume, and settlement assets. Second, they agree on a settlement method, often using a multi-signature escrow or the OTC desk’s custody. Finally, the assets transfer simultaneously to prevent counterparty risk. The Worldcoin transaction follows this pattern precisely. The receipt of USDC likely represented the fiat-equivalent payment for the WLD tokens. The subsequent deposit of WLD to an exchange may signal the buyer’s intent to take custody or begin distribution. Expert Analysis of On-Chain Evidence Blockchain analysts employ sophisticated tools to track fund flows. They cluster addresses, analyze timing patterns, and cross-reference known entity wallets. For this Worldcoin deal, the evidence points to coordinated action. The nearly simultaneous movement of stablecoins in and tokens out is characteristic of an OTC swap. Furthermore, the involvement of Binance and FalconX as counterparties adds credibility. These are established, regulated entities with strict compliance procedures. Their participation suggests the transaction underwent standard due diligence checks. Market makers play a vital role in such transactions. They often act as intermediaries, holding inventory to facilitate instant trades. A market maker might acquire tokens from a project treasury and then sell them gradually to institutional clients. This process helps maintain orderly markets and provides project teams with immediate liquidity. The analyst’s hypothesis that a market maker controlled the address is therefore plausible. It aligns with standard operational models for managing large token allocations post-launch. Broader Implications for the Worldcoin Ecosystem The Worldcoin project, co-founded by Sam Altman, aims to create a global digital identity and financial network. Its WLD token distribution is intrinsically linked to its biometric identity verification system, called World ID. Large OTC deals are a natural part of scaling such an ambitious ecosystem. They enable the project to onboard strategic partners, fund operations, and manage its treasury. However, transparency around these transactions remains paramount for community trust. This $35 million deal occurs within a specific regulatory and market context. Global regulators are increasing scrutiny on cryptocurrency transactions, especially large transfers. Projects must navigate securities laws, anti-money laundering (AML) rules, and tax reporting requirements. OTC desks like those at Binance and FalconX provide essential compliance frameworks. They perform Know Your Customer (KYC) checks and monitor for suspicious activity. Therefore, the use of these platforms indicates adherence to financial regulations. The transaction also has potential implications for WLD tokenomics and market dynamics: Liquidity Provision: Moving tokens to an exchange increases available supply for trading. Price Discovery: Large OTC trades can influence market sentiment and valuation benchmarks. Treasury Management: Converting tokens to stablecoins helps projects fund development and operations with reduced volatility risk. Investor Relations: OTC deals are often used to distribute tokens to venture capital firms and long-term holders. Conclusion The reported $35 million Worldcoin OTC deal underscores the maturation of cryptocurrency markets. It demonstrates the professional infrastructure now supporting major blockchain projects. On-chain analysis provides unprecedented transparency, allowing the community to monitor significant fund movements. While the exact purpose of this specific Worldcoin transaction remains subject to interpretation, its mechanics align with standard institutional practice. As the digital asset industry evolves, such OTC activities will likely become more frequent and sophisticated. They represent a critical bridge between innovative crypto projects and the traditional financial world. FAQs Q1: What is an OTC deal in cryptocurrency? An Over-The-Counter (OTC) deal is a private transaction between two parties, negotiated directly rather than on a public exchange. It is used for large trades to avoid impacting the market price. Q2: Why would the Worldcoin team use an OTC desk? Using an OTC desk allows for the discreet movement of large token volumes. It prevents price slippage, provides settlement security, and often includes compliance services from regulated counterparties. Q3: What are Binance and FalconX’s roles in this transaction? Binance and FalconX are likely the counterparties or facilitators. They may have provided the USDC stablecoin in exchange for the WLD tokens, acting as the OTC desk or market maker in the deal. Q4: How do analysts track these kinds of transactions? Analysts use blockchain explorers and clustering software to follow the flow of funds between addresses. They identify patterns, link addresses to known entities, and analyze timing to infer the nature of a transaction. Q5: Does a large OTC sale indicate a problem for Worldcoin? Not necessarily. Large OTC transactions are a normal part of treasury management for crypto projects. They can fund operations, facilitate strategic partnerships, or provide liquidity to institutional investors. This post Worldcoin OTC Deal: Shocking $35 Million Transaction Revealed by On-Chain Sleuths first appeared on BitcoinWorld .

21 Mar 2026, 01:10

Argentine Football Association Forges Strategic Partnership with Crypto Exchange Deepcoin for 2026 World Cup

BitcoinWorld Argentine Football Association Forges Strategic Partnership with Crypto Exchange Deepcoin for 2026 World Cup In a landmark move for sports and finance, the Argentine Football Association (AFA) has announced a major regional partnership with the global cryptocurrency exchange Deepcoin, a strategic alliance set to span the entire 2026 FIFA World Cup cycle. This collaboration, confirmed in Buenos Aires, Argentina, on March 21, 2025, represents a significant step in the digital transformation of one of the world’s most storied football federations. Consequently, the partnership aims to leverage advanced financial technology to enhance fan engagement and commercial strategy. The deal underscores a growing global trend where major sports entities actively integrate cryptocurrency and blockchain solutions into their core operations. Argentine Football Association Deepens Digital Strategy with Deepcoin The Argentine Football Association, governing body of the reigning world champions, is formalizing a comprehensive partnership with Deepcoin. This agreement specifically covers the critical period leading up to, during, and after the 2026 FIFA World Cup. The AFA seeks to expand its digital footprint and revenue streams by combining its massive global fanbase with Deepcoin’s technological infrastructure. Furthermore, this move aligns with a broader institutional strategy to modernize its commercial approach. The partnership will provide Deepcoin with exclusive regional branding rights and marketing access to the Argentine national team’s assets. For Deepcoin, a global exchange with a strong focus on compliance and user experience, this deal offers unparalleled access to millions of passionate football fans. The exchange plans to launch a series of co-branded initiatives, including educational content about digital assets. These initiatives will be tailored to the Latin American market, where cryptocurrency adoption continues to accelerate rapidly. The collaboration is not merely a sponsorship but a joint venture to explore new digital business models at the intersection of sports and fintech. Analyzing the Sports Cryptocurrency Partnership Landscape The AFA-Deepcoin agreement follows a clear pattern in modern sports marketing. Major leagues and teams worldwide are now actively partnering with cryptocurrency firms. For instance, previous deals have involved exchanges like Crypto.com with the NBA and Formula 1, and Socios.com with numerous European football clubs. However, the AFA’s deal is distinctive because it involves a national federation, not just a club, and encompasses an entire World Cup cycle. This long-term, event-focused framework provides a unique testing ground for integrated fan experiences. The primary mechanism for fan engagement will be a dedicated rewards program for Deepcoin users. Participants can earn points through platform activity, which are redeemable for exclusive AFA-related benefits. The announced benefits structure includes several tiers: Autographed Merchandise: Official items signed by star players like Lionel Messi, Julián Álvarez, and Lautaro Martínez. Match Access: Opportunities to win tickets to Argentine national team fixtures, including potential 2026 World Cup qualifiers. Digital Collectibles: Access to limited-edition NFTs or digital assets commemorating key team moments. VIP Experiences: Rare chances for meet-and-greets or virtual fan forums with players and legends. This model aims to convert casual fans into engaged platform users while fostering a deeper connection between the team and its global supporter base. The strategy directly targets the powerful emotional loyalty inherent in international football fandom. Expert Perspective on Fintech and Football Convergence Financial technology analysts view this partnership as a logical evolution. “National football associations hold immense cultural capital and trust,” notes Dr. Elena Vargas, a sports economist at the University of Buenos Aires. “By partnering with a regulated exchange like Deepcoin, the AFA is cautiously entering the digital asset space. They are leveraging their brand to educate fans and offer utility, not just speculative assets. This is a more sustainable approach than previous fan token models that faced criticism.” The timing is also strategically significant. The 2026 World Cup, to be hosted across North America, will be the largest in history. It promises unprecedented global viewership and digital interaction. By establishing this partnership now, the AFA and Deepcoin position themselves to capture attention and activity throughout the three-year buildup. This extended timeline allows for the development of sophisticated, fan-centric products that can be launched and refined ahead of the tournament itself. Regulatory and Market Implications for Crypto in Sports This partnership operates within a complex and evolving regulatory environment. Argentina has recently seen pro-market shifts in its economic policy, creating a more favorable climate for cryptocurrency innovation. The AFA and Deepcoin have emphasized that all initiatives will comply fully with local and international financial regulations. This includes robust Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols for any financial activities. The deal also reflects a maturation in the crypto industry’s outreach. Exchanges are moving beyond simple stadium naming rights and logo placement. Instead, they are seeking deeper, content-driven integrations that provide real value. For Deepcoin, success will be measured not just by brand exposure but by user acquisition and retention within the massive Latin American football community. The partnership’s performance could influence how other national federations and major sports properties structure their own digital asset strategies. Key Market Data: The Latin American cryptocurrency market has shown remarkable growth. Recent reports from blockchain analytics firms indicate that Argentina and Brazil are among the top adopters globally, driven by currency volatility and a young, tech-savvy population. The AFA, with its iconic blue and white stripes, represents one of the most recognizable brands in this region. This synergy between a high-adoption market and a top-tier sports brand creates a powerful foundation for the partnership’s potential impact. Conclusion The strategic partnership between the Argentine Football Association and Deepcoin marks a pivotal moment in the convergence of elite sports and cryptocurrency. This multi-year agreement, centered on the 2026 FIFA World Cup, goes beyond traditional sponsorship to forge a joint digital business strategy. By offering fans tangible benefits like autographed merchandise and match access, the alliance aims to enhance engagement through fintech. Ultimately, this collaboration will serve as a significant case study for how national sports institutions can navigate and leverage the digital asset landscape. The world will be watching as this partnership unfolds, potentially charting a new course for fan interaction in the modern sporting era. FAQs Q1: What is the duration of the AFA and Deepcoin partnership? The partnership is officially set to cover the entire 2026 FIFA World Cup cycle, meaning it will be active through the qualification phase, the tournament itself in 2026, and the immediate post-event period. Q2: Do fans need to use cryptocurrency to participate in the benefits program? While the rewards program is for Deepcoin users, specific participation requirements will be detailed by the exchange. It may involve activities like account registration, education modules, or trading, not necessarily requiring an initial cryptocurrency purchase. Q3: How does this partnership differ from other crypto sports sponsorships? This deal is distinctive as it involves a national football federation (not a club) and is structured around a long-term World Cup cycle. It focuses on integrated fan rewards and digital strategy, rather than just branding on jerseys or in stadiums. Q4: Are there any risks for fans participating in crypto-related sports programs? As with any financial platform, users should always practice due diligence. They should only use reputable, regulated exchanges like Deepcoin, understand the volatility of digital assets, and never invest more than they can afford to lose. The AFA-branded benefits are separate from market performance. Q5: Will this partnership involve creating a fan token or cryptocurrency? The initial announcement highlights rewards and experiences, not the creation of a new token. The focus is on using Deepcoin’s existing platform to deliver value. However, future phases of the partnership could explore additional digital products like NFTs. This post Argentine Football Association Forges Strategic Partnership with Crypto Exchange Deepcoin for 2026 World Cup first appeared on BitcoinWorld .

21 Mar 2026, 00:57

Grayscale files for HYPE ETF as Hyperliquid dominance draws Wall Street interest

Grayscale, a cryptocurrency asset manager overseeing approximately $35 billion in assets, has submitted a proposal to list the Grayscale HYPE ETF, which tracks the Hyperliquid token, amid Wall Street’s growing attention to Hyperliquid’s popularity. Moreover, it has secured the top ranking as the largest on-chain perpetual contracts platform. Meanwhile, Grayscale noted that if the authorities grant the proposal a green light, the Grayscale HYPE ETF would trade on Nasdaq under the ticker symbol GHYP, according to an S-1 filing . At this time, reports from reliable sources indicate that this fund will adopt a similar structure to other Grayscale offerings, using Coinbase Custody and CoinDesk’s Benchmark data for pricing. It was also discovered that HYPE staking is presently prohibited, though analysts noted that a “Staking Condition” could be satisfied at a later date, citing information retrieved from the filing. Notably, Hyperliquid is highly recognized as a high-performance, decentralized exchange (DEX) built on its own custom Layer 1 blockchain. Grayscale makes a significant move in the crypto industry Earlier this year, Grayscale announced plans to introduce exchange-traded funds for Hyperliquid and BNB . To demonstrate the seriousness of the situation, the firm first submitted the products’ statutory trusts to the Delaware Division of Corporations. This step is important to the company because it enables Grayscale to proceed to the next step: submitting a formal ETF filing with the US Securities and Exchange Commission (SEC). Notably, information from the official state website disclosed that Grayscale registered both the products’ statutory trusts on January 8, 2026. Under this registration, Grayscale BNB Trust’s file number is 10465871, and that of Grayscale HYPE Trust is 10465863. After the release of this report, sources highlighted that the cryptocurrency asset manager was expected to submit an S-1, a registration statement, to the SEC. In this registration statement, Grayscale was required to correctly detail the planned ETF’s structure, investment strategy, compliance measures, and risks. As expected, Grayscale recently filed an S-1 with the SEC. Nonetheless, analysts acknowledge that the agency’s cautious approach to digital assets makes the timeline for review or approval uncertain. Moreover, they insisted that a shift in the regulations governing the approval of crypto ETFs has occurred. For instance, the SEC approved general listing standards for crypto-based exchange-traded products, eliminating the need for Section 19(b) submission requirements for numerous cases. While this change eases listing requirements for qualified crypto ETFs, each product will still undergo rigorous scrutiny. After these changes were implemented, Paul Atkins, the Chairman of the US Securities and Exchange Commission, sparked hope in the crypto ecosystem after stating that he had initiated the approval process of various crypto-related funds. Responding to the chairman’s statement, several industry leaders admitted that Hyperliquid has rapidly gained attention despite being a relatively new entrant to the crypto industry. Meanwhile, although Users based in the US currently lack access to the decentralized exchange (DEX). The newly formed Hyperliquid Policy Center is actively lobbying in Washington, D.C. Grayscale follows 21Shares’s lead While there has been a shift in the regulations governing the approval of crypto ETFs, sources stressed that staking rewards are still being adopted slowly. At this point, analysts discovered that, apart from Grayscale, other companies such as 21Shares and Bitwise also submitted applications to the SEC for exchange-traded funds (ETFs) tracking Hyperliquid (HYPE) towards the end of last year. 21Shares filed for regulatory approval to launch a passive Hype token ETF to track the digital asset’s price just one week after the company agreed to be acquired by digital asset trading firm FalconX . This move demonstrated money managers’ and institutions’ heightened interest in ETFs as they seek to allocate significant funds to this fast-growing asset class via traditional platforms. This was after the SEC eliminated the last obstacle for various new spot ETFs linked to digital assets such as Solana and Dogecoin in September. Even so, reports highlighted that the US government shutdown forced the federal agency to focus on emergencies, putting non-essential work, such as ETF application reviews, on hold. If you're reading this, you’re already ahead. Stay there with our newsletter .