Bhutan Trades Bitcoin, Truth Social Token & GMX $42M Hack

July 14, 2025

Crypto World

Maciej Zerelik

Big changes are happening in crypto. StealthEX and CryptoDaily are here to keep you up to speed. Each week, we highlight the biggest updates and market shifts. No fluff. Just the facts you need. Want to know what’s trending right now? We’ve got a simple breakdown that cuts through the noise. Clear. Quick. Up-to-date. This is your weekly go-to recap for everything shaking up the crypto space.

Bhutan Trades Bitcoin at a Peak While Stockpiling for the Future

Bhutan’s sovereign fund made a big move. The country transferred 213.5 BTC, worth nearly $24 million, to a Binance wallet. This marks the second large transfer in two weeks.

The timing wasn’t random. It looks like Bhutan is taking advantage of strong market conditions. By selling during peaks, the country can secure profits while still holding a large reserve. This smart approach could inspire other nations watching closely.

Even after the latest sale, Bhutan’s crypto wallet still holds over 11,700 BTC. At current prices, that stash is valued at around $1.3 billion. That makes Bhutan one of the world’s top government holders of Bitcoin.

Blockchain firm Arkham Intelligence spotted the transaction and confirmed it was linked to the country’s sovereign fund. The data supports what many now see as a clear strategy: mix short-term profits with long-term storage.

Unlike most governments, Bhutan treats Bitcoin not as a risky asset, but as a core financial tool. It’s a bold shift for a small Himalayan kingdom—and one that could signal a broader global trend.

Truth Social Plans Its Own Crypto to Reward Subscribers

Truth Social is getting ready to launch its own utility token. The move aims to reward users who pay for the platform’s premium plan, called the Patriot Package. It costs $9.99 per month and soon will include crypto-based rewards.

The company says users will earn digital “gems” by engaging with the platform. These gems can later be converted into the new utility token. The token will work across Truth Social and its future video service, Truth+.

This project is more than just a loyalty program. It shows how social media is blending with blockchain tech. Instead of chasing hype, Truth Social wants to build something useful. The token isn’t a meme coin. It’s meant to give real value to paying users.

Platform insiders say this token will allow payments for subscriptions and may power future features. That includes tipping, access to exclusive content, or even participation in community polls.

Unlike other crypto projects, Truth Social is focusing on utility from day one. The goal is to build something sustainable, not just speculative. This launch could change how platforms think about loyalty and digital rewards.

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DigitalX Secures $13.5M to Double Down on Bitcoin

Australian crypto firm DigitalX has raised $13.5 million to grow its Bitcoin holdings. The company, listed on the ASX, completed the funding round with support from major investors like Animoca Brands and ParaFi Capital.

Most of the money—around $12.9 million—will go directly into Bitcoin. The rest will cover operations, working capital, and deal-related expenses. Investors got shares priced at $0.048 each and a warrant to buy more stock in the future.

This move isn’t just about growing a portfolio. DigitalX wants to become a key player in regulated crypto investment. The company is one of the few in Australia giving public-market exposure to Bitcoin.

As part of the deal, DigitalX created a new advisory board. It includes big names like Yat Siu from Animoca and Web3 investor Hervé Larren. Both bring experience and vision for building in the digital asset space.

Siu says the company stands out because it gives regular investors a safe and legal way to hold Bitcoin. He believes the new funding marks a turning point for DigitalX. With Bitcoin at the heart of its strategy, the company is building long-term value—one sat at a time.

SharpLink Buys 10,000 ETH Directly from Ethereum Foundation

SharpLink Gaming has made crypto history. The company just bought 10,000 ETH straight from the Ethereum Foundation in a $25.7 million deal. It’s the first time a public company has done this kind of direct purchase.

The transaction was completed over-the-counter and recorded on-chain. SharpLink paid an average of $2,572 per ETH. The Foundation confirmed the sale and said the funds will support its core development work.

But this deal isn’t about flipping ETH for a quick gain. SharpLink plans to use the tokens as a long-term treasury asset. It also intends to stake and re-stake the ETH, effectively locking it away and reducing supply.

Chairman Joseph Lubin, who also co-founded Ethereum, said this is a mission-driven move. The company wants to support the Ethereum network while building real value for shareholders.

SharpLink’s stock reacted fast. Shares jumped over 50% in the past week, with the price nearing $20. ETH also crossed $3,000 during the same period, adding more momentum.

By locking up ETH and supporting Ethereum’s future, SharpLink is setting an example. It’s not just investing in crypto—it’s backing the system that powers it.

GMX Suffers $42M Hack, Halts Trading to Contain Damage

GMX has confirmed a major exploit that drained $42 million from its GLP pool on Arbitrum. The platform immediately paused trading and disabled minting and redemptions to prevent more losses.

Only the GMX V1 pool was hit. The newer GMX V2, its token, and other liquidity pools stayed safe. On-chain data shows the attacker moved funds from USDC to ETH, then to DAI. They also stole wrapped tokens like WBTC, WETH, and FRAX.

A wallet tied to the hacker now holds around $44 million. GMX reached out through an on-chain message, offering the attacker 10% of the stolen amount if the rest is returned within 48 hours. No legal action would be taken if they comply.

Blockchain firm SlowMist later pointed to a design flaw in GMX V1. The problem came from how short positions affected global average prices. That loophole let the attacker manipulate values and drain the pool.

As a result, GLP features were shut down across Arbitrum and Avalanche. Users were told to turn off leverage and stop minting.

The community praised GMX for reacting fast. Still, the incident raises questions about safety in decentralized finance. Everyone is now watching to see if the funds come back—or disappear for good.

Hackers Target Dormant Mt. Gox Wallet With Blockchain Phishing Scam

Hackers have tried to trick the owner of a long-inactive Bitcoin wallet linked to Mt. Gox. The wallet holds nearly 80,000 BTC—worth around $8.7 billion today. The attackers used a clever method: hiding a phishing link inside a blockchain transaction.

Researchers at BitMEX spotted the scam. The message was embedded using Bitcoin’s OP_RETURN function. This feature allows users to store small bits of data on-chain. In this case, it was abused to deliver a fake website link.

The message claimed someone had taken control of the wallet and wanted to confirm its rightful owner. It directed the reader to a site pretending to be from Salomon Brothers, a bank that shut down years ago.

Security teams quickly flagged the site as a scam. The goal was simple: collect personal details from anyone who believed the message and tried to prove ownership.

This isn’t the first time dormant wallets have been targeted. Mt. Gox lost 850,000 BTC in 2014. Many of those coins have never moved. Scammers hope that curiosity or desperation might lead old holders to take the bait.

As prices rise, the risk of phishing grows. And once data is on-chain, it stays there forever.

New OCC Chief Jonathan Gould Could Shift U.S. Crypto Rules

Jonathan Gould is now the head of the Office of the Comptroller of the Currency. The Senate confirmed him by a narrow margin—50 to 45 votes. Gould previously worked at Bitfury, a blockchain tech firm, and as senior deputy at the OCC. His approval signals a potential shift in how U.S. banks tackle digital assets.

Gould helped form early policies that let banks hold and manage crypto. He backed Anchorage Digital’s charter when he was at the agency. Now, with full authority, he could expand custody services and embrace stablecoins and Bitcoin ETF trading.

Supporters say his experience bridges technology and regulation. He understands banking risk and blockchain potential. Backers hope Gould will help clear the fog around crypto rules. His five-year term could be a milestone for innovation at federal level.

Gould’s arrival follows former Acting Comptroller Brian Brooks, who was also crypto-friendly. Brooks tapped Gould for Bitfury, signaling shared views ahead of now. With new leadership, the OCC may offer clearer guidance that boosts banks’ digital asset offerings.

Critics remain cautious. They warn that federal banks handle trillions and must tread carefully. Balancing innovation and safety will test Gould’s leadership.

Still, this appointment is big news for the crypto community. It could mark the start of a new era in U.S. financial regulation—one that finally makes room for digital assets inside mainstream banking.

South Korea Opens Startup Perks to Crypto Firms

South Korea is preparing a big shift in how it treats crypto companies. Under a proposed update to its venture business law, trading platforms and brokerages will now qualify as venture firms. That means they’ll unlock benefits like tax breaks and easier access to funding.

Until now, crypto firms were lumped in with nightlife and gambling, keeping them out of startup programs. That changed in 2018 and cost some, like Dunamu (new owner of Upbit), millions in additional taxes.

The new rule aims to fix an old mistake. The government says this will help build a stronger tech ecosystem. With 5G everywhere and fintech growing fast, the timing makes sense.

Supporters say the change will energize South Korea’s digital economy. President Lee Jae Myung backs the move. His agenda includes digital currency options, stablecoin policies, and lifting barriers on crypto exchange-traded funds.

This move fits a larger vision of turning South Korea into a blockchain leader. It sends a message: crypto firms are real innovators, not fringe players. And with tax incentives and financing tools, many hope the nation will become a magnet for crypto startups.

If the legislation passes, crypto platforms here could soon get the same support as other high-growth tech firms. That would be a first in Asia—and a serious boost for the industry.

This article is not supposed to provide financial advice. Digital assets are risky. Be sure to do your own research and consult your financial advisor before investing.