Crypto

Local authorities and state-owned publications in mainland China are increasingly calling on the government not to dismiss the increasing global adoption of stablecoins. Mainland China, one of the most restrictive global jurisdictions for cryptocurrencies, is reportedly showing signs of a shift in tone regarding stablecoins amid new developments in Shanghai. The Shanghai State-owned Assets Supervision and Administration Commission (SASAC) has held a meeting to discuss strategic responses to stablecoins and digital currencies, Reuters reported on Friday. Following the Thursday meeting, SASAC director He Qing called for “greater sensitivity to emerging technologies and enhanced research into digital currencies,” in a post on the authority’s official account. Read more

Your day-ahead look for July 11, 2025

Bitcoin hit a new all-time high above $118,000 as institutions drove the rally—while analysts predicted a $120K target by month-end.

In a surprising development, blockchain analytics platform Lookonchain reported that the attacker responsible for exploiting GMX, a decentralized derivatives exchange, agreed to a white-hat deal—offering to return the stolen $42 million in assets in exchange for a $5 million bounty. The post GMX Hacker Strikes White-Hat Deal: $42M Heist Turns $3M Profit After $5M Bounty Offer appeared first on Cryptonews.

Binance played a critical role in developing the USD1 stablecoin launched by the Trump family’s World Liberty Financial Inc. The post Binance Developed Code for Trump-Backed USD1 Stablecoin Before CZ’s Pardon Bid appeared first on Cryptonews.

Ethereum topped $3,000 for the first time since February, following the largest single day for ETH exchange-traded fund inflows.

The rally in FIL came as crypto markets surged higher with the Coindesk CD20 index rising 7%.

US-based spot Bitcoin ETFs saw a dramatic uptick in investor activity as the top crypto price reached a new all-time high of over $118,000, at least in dollars. According to SoSoValue data, the 12 funds saw cumulative inflows of $1.2 billion, the second strongest daily performance since launch in 2024, and the best this year. […] The post Bitcoin ETFs see record $1.2B inflow as market hits all-time high in dollars appeared first on CryptoSlate.

Attackers earlier this week exploited a re-entrancy flaw in the OrderBook contract, allowing the attacker to manipulate short positions on BTC, inflate GLP’s valuation, and redeem it for outsized profits.

The attacker behind the $40 million GMX exploit has begun returning the stolen crypto after accepting a $5 million white hat bounty offered by the GMX team. The attacker who exploited the GMX v1 decentralized exchange (DEX) and stole $40 million in crypto began returning the stolen funds after sending an onchain message promising to return the crypto.  In an onchain message flagged by blockchain security firm PeckShield, the hacker wrote that the funds will be returned. “Ok, funds will be returned later,” the exploiter wrote in an onchain message, accepting the bounty offered by the GMX team.  Almost an hour later, the hacker started returning the crypto stolen from the attack. At the time of writing, the address labeled GMX Exploiter 2 had returned about $9 million in Ether (ETH) to the Ethereum address specified by the GMX team in an onchain message.  Read more

Cybersecurity firm ReversingLabs uncovered two lines of malicious code in an update forETHCode, an open source suite of tools.

Malta has sought to lead the way in EU crypto regulation, though early leadership has not come without its challenges. Malta’s cryptocurrency market regulator said that none of the local licenses issued under the Markets in Crypto-Assets Regulation (MiCA) are at risk following a recent peer review by European Union regulators. “No MiCA license in Malta is at risk of revocation or re-evaluation as a result of the peer review outcomes,” a spokesperson for the MFSA told Cointelegraph, adding that the authority has already started addressing the issues identified in the review. The statement came after the European Securities and Markets Authority (ESMA), Europe’s primary supervisory body overseeing MiCA compliance, on Thursday released a peer review on certain MiCA authorization gaps by Malta’s Financial Services Authority (MFSA). Read more

Tasmania has become the latest Australian state to intensify efforts against crypto ATM scams after top users lost AUD 2.5 million to fraudsters. The post Australia’s Tasmania Joins Nationwide Crackdown on Crypto ATMs as Scam Losses Hit $1.6 Million appeared first on Cryptonews.

The token faces resistance at $5.03, but a break of that level opens the way to $5.20.

Ethereum showcased explosive bullish momentum with institutional demand accelerating through spot ETFs while shattering critical resistance levels.

The Vatican Bank has denied any link to a suspicious crypto project offering fake memberships and token sales through a fraudulent “Vatican Chamber of Trade.” The Istituto per le Opere di Religione (IOR), commonly known as the Vatican Bank, has denied any connection to a fake cryptocurrency project claiming ties to it. The fake token, dubbed Vatican Chamber Token (VCT), was promoted on an online phishing scam website claiming to offer a “formal invitation to join one of the world’s most exclusive economic institutions.” The promoters said the “Vatican Chamber of Trade” was accepting new applicants “for the first time in a generation.” The website goes as far as to include the real number of the Vatican Bank on its website. A representative of the Vatican Bank confirmed during a call with Cointelegraph that the project “is a scam,” and denied any affiliation with it. Read more

Bitcoin's bullish momentum may face potential resistance at the $120,000 level.

Bitcoin broke above $118,000, but key resistance levels remain across other assets.

Cathie Wood’s Ark Invest sold $6.5 million worth of Coinbase Global shares and $5.8 million of Robinhood shares on Thursday. The post Cathie Wood’s Ark Invest Sells $6.5M Coinbase and $5.8M Robinhood Amid Bitcoin Rally appeared first on Cryptonews.