After a jury deadlocked on a verdict for two brothers accused of perpetrating a $25 million exploit on Ethereum, prosecutors are looking to retry them in 2026. Anton and James Peraire-Bueno, two brothers indicted for their alleged role in money laundering and fraud involving a $25 million exploit of the Ethereum blockchain, could face a second trial as early as February. In a Monday filing in the US District Court for the Southern District of New York, lawyers representing the US government requested a federal judge schedule a retrial for the Peraire-Bueno brothers “as soon as practicable in late February or early March 2026.” The request came about three days after a judge declared a mistrial in the case, following the jurors’ inability to reach a verdict. Read more
Backed and Kraken’s xStocks sees rapid growth as investor interest in blockchain-based equities accelerates despite regulatory uncertainty. XStocks, a tokenized equity platform created by real-world asset (RWA) tokenization firm Backed and crypto exchange Kraken, has surpassed $10 billion in total transaction volume just over four months after its launch, signaling a growing appetite for tokenized investment products. The platform debuted earlier this year with more than 60 tokenized equities, including Nvidia, Amazon, Tesla and Meta Platforms, as well as several exchange-traded funds (ETFs). Each xStock token is fully backed 1:1 by the underlying equity or ETF, issued by Backed in partnership with Kraken. XStocks operates across Ethereum, Solana, BNB Chain and Tron, expanding accessibility across major blockchain ecosystems. Read more
Bitcoin bulls tried to spark a recovery, but were met with heavy selling pressure near $107,000. A similar fate awaited most altcoins, which sold off from their respective resistance levels. Bitcoin (BTC) bulls pushed the price above $105,000 on Wednesday, but the bears pounced on the rally and pulled the price below $102,000. That shows the bears are not willing to relinquish their advantage. Morgan Stanley Wealth Management investment strategist Denny Galindo has turned cautious on the BTC rally. In a podcast episode titled Crypto Goes Mainstream, he said that BTC’s price cycle was in the “fall season,” where one should book profits before winter sets in. Key points: Read more
Markus Thielen warns Bitcoin’s institutional rally could reverse as ETF outflows and market fatigue weigh on risk appetite. The powerful wave of institutional buying that helped propel Bitcoin higher since early 2024 could also amplify a correction if market fatigue persists, according to Markus Thielen, CEO of 10x Research and a former portfolio manager. In an interview with Bloomberg, Thielen said the crypto market, and Bitcoin (BTC) in particular, is showing all the tell-tale signs of fatigue, following a difficult October marked by the largest liquidation event in the industry’s history. Those losses, he noted, have compounded underlying macroeconomic risks that Bitcoin has increasingly mirrored. Because institutional inflows, especially from spot Bitcoin exchange-traded funds (ETFs), have been a key driver of the 2024 rally, Thielen warned that the same investor base could accelerate downside pressure if activity continues to slow. Read more
The biotech firm is shifting to a crypto-focused strategy, backed by Winklevoss Capital, and investing $50 million in the Zcash protocol's native token. Shares of Leap Therapeutics (Nasdaq: LPTX) surged more than 170% in early trading on Wednesday after the company announced a shift to a crypto treasury strategy. The company announced its rebranding as Cypherpunk Technologies (Nasdaq: CYPH) and adoption of a digital asset treasury strategy focused on Zcash (ZEC), the native token of the Zcash protocol. The biotech company used $50 million from a $58.88 million private placement led by Winklevoss Capital to purchase 203,775 Zcash (ZEC) at an average price of $245.37 per token, marking a move away from biotechnology and into the crypto sector. Read more