Bitcoin ETFs, Binance MiCA, Chainlink, USDT India Premium

WRITTEN BY

Maciej Zerelik

Crypto investor and blockchain researcher

Author profile

The crypto market moves fast, and new developments happen every day. Major announcements, price swings, and industry updates can quickly change the direction of the market. That is why it is important to stay informed. In this weekly roundup, you’ll find the biggest crypto stories from the past seven days. We cover the most important news, highlight the key events, and explain why they matter. Whether you follow the market every day or just want a quick update, this recap has everything you need. Now, let’s take a look at this week’s biggest crypto headlines.

Bitcoin ETF Exodus Hits Record Levels as Selling Pressure Keeps BTC Below $60K

Bitcoin continues to struggle after U.S. spot Bitcoin ETFs recorded their largest monthly capital withdrawal since launch. Investors have pulled roughly $4.06 billion from these funds during June, adding fresh pressure to a market that has already spent weeks searching for support.

The latest wave of outflows coincided with Bitcoin slipping below the $60,000 mark over the weekend. Although the cryptocurrency later recovered slightly, it remained stuck near $59,700 while U.S. stock futures moved higher following easing geopolitical concerns. The different reactions highlight how crypto and equities have recently followed separate paths.

Market participants say ETF redemptions gradually reduce liquidity instead of causing an immediate price collapse. As assets leave these investment vehicles, fewer buyers remain available to absorb larger sell orders. That environment often leads to wider spreads and sharper price swings whenever selling accelerates.

Earlier this month, Bitcoin ETFs experienced a 13-session streak of net outflows before briefly returning to positive territory for a single trading day. During that period, total assets under management dropped significantly, reflecting weaker institutional demand.

Investors are now paying close attention to daily ETF flow data, futures premiums and price action around the $58,000-$60,000 range. If withdrawals begin to slow, Bitcoin could stabilize despite ongoing volatility. However, another wave of heavy redemptions would likely keep the market under pressure as liquidity remains thinner than it was earlier this year.

More Than Half of Bitcoin Supply Is Now Underwater as Holder Losses Grow

A growing share of Bitcoin investors now hold coins worth less than the price they originally paid, according to recent on-chain data. Analysts say this shift offers an important glimpse into current market sentiment and could influence how Bitcoin behaves over the coming weeks.

Several blockchain research firms report that more than half of Bitcoin’s circulating supply has fallen below its estimated cost basis. At the same time, nearly all short-term holders-wallets that acquired BTC in recent months—are sitting on unrealized losses after Bitcoin dropped toward the $60,000 level.

Historically, these conditions have appeared during the later stages of market corrections. Investors who entered recently often become the first to sell when prices continue falling, increasing short-term volatility. Meanwhile, long-term holders typically reduce their activity and wait for stronger market conditions instead of rushing to exit their positions.

Despite the recent decline, long-term investors still control roughly three-quarters of Bitcoin’s circulating supply. A large portion of those coins also shows unrealized losses, yet blockchain data suggests these holders have not significantly increased their selling activity.

That behavior could become an important signal. If experienced investors continue holding while short-term traders leave the market, selling pressure may gradually fade. Analysts will closely monitor long-term holder spending, exchange inflows and realized losses in the coming weeks to determine whether Bitcoin is building a stronger price floor or preparing for another leg lower.

Binance Faces Growing Pressure in Europe as MiCA Rules Reshape the Crypto Market

Europe’s new crypto regulations are beginning to redraw the competitive landscape, with Binance finding itself under increasing pressure as the Markets in Crypto-Assets framework reaches another major milestone.

The exchange recently withdrew its licensing application in Greece after reports suggested approval was unlikely before the regulatory transition period expired. Binance now plans to pursue authorization in another European Union member state while users wait to learn how the changes could affect available services.

The situation has created an opportunity for competing exchanges that already operate under the new framework or expect approval soon. Several regulated platforms have stepped up marketing efforts, encouraging traders to move their accounts before restrictions affect access to certain products.

Industry observers believe the migration could become one of the largest shifts in European crypto trading since MiCA was introduced. With more than 200 approved crypto service providers already listed across the EU and EEA, traders now have a growing number of regulated alternatives.

For exchanges, obtaining authorization has become more than a compliance exercise. Firms that complete the process early gain access to customers looking for uninterrupted trading, fiat services and custody solutions. Those still waiting for approval risk losing market share during a period when many investors prefer regulatory certainty over platform loyalty, especially as new rules continue taking effect across the region.

SharpLink Expands Ethereum Holdings Despite Heavy Unrealized Losses

SharpLink has added another 5,000 ETH to its corporate treasury, increasing its exposure to Ethereum even as the cryptocurrency trades near its lowest levels of 2026.

Blockchain data shows the transfer arrived through institutional crypto broker FalconX, marking the company’s first recorded Ethereum inflow since October last year. The purchase immediately attracted attention because Ethereum remains well below prices seen during previous buying periods.

Public wallet analysis suggests SharpLink’s average acquisition cost sits far above current market prices, leaving the company with substantial unrealized losses. While those figures are based on blockchain estimates rather than audited financial statements, they illustrate the challenge corporate treasuries face when holding volatile digital assets over extended periods.

Many companies separate long-term crypto investments from operating cash reserves, allowing them to tolerate market swings without affecting daily business operations. This approach gives treasury managers greater flexibility during prolonged downturns while limiting the impact on core financial activities.

The latest purchase suggests SharpLink continues viewing Ethereum as a strategic long-term asset rather than a short-term trade. Institutional investors often build positions gradually through predefined allocation plans instead of trying to predict market bottoms.

Attention will now turn to whether other public companies follow a similar strategy if Ethereum remains under pressure, or whether prolonged price weakness encourages more conservative treasury policies across the broader corporate sector.

GoMining Mines Bitcoin Block With New Stratum V2 Feature and Expands Digital Marketplace

GoMining has introduced two major upgrades to its ecosystem, combining a technical milestone in Bitcoin mining with new marketplace tools aimed at improving the trading experience for digital mining assets.

The company announced that its DMND mining pool successfully produced a Bitcoin block using Stratum V2’s Job Declaration feature. Instead of allowing the mining pool to decide which transactions entered the block, the miner created its own block template before submitting it for validation. The block also included transactions generated through GoBTC Pay, the company’s open-source Bitcoin payment protocol.

Supporters of Stratum V2 have long argued that the technology gives miners greater independence by reducing the influence of large mining pools. Although developers have spent years building the protocol, real-world production examples have remained limited until now.

Alongside the mining announcement, GoMining unveiled a redesigned marketplace featuring an automated descending-price auction system. Sellers can choose both a starting price and a minimum acceptable value, while listings gradually become cheaper until a buyer completes the purchase.

The platform also introduced new search filters, historical pricing data, projected return indicators and the ability to list Mine Boxes before they are minted.

Together, the updates reflect GoMining’s broader strategy of strengthening both Bitcoin mining infrastructure and the marketplace supporting tokenized mining products, while encouraging greater transparency and flexibility for users participating in its digital ecosystem.

USDT Premium in India Climbs Above 8% as Liquidity Crunch Deepens

The price of Tether has surged far above its usual level in India, highlighting growing stress across the country’s crypto market after enforcement actions disrupted several major payment providers.

USDT recently traded at nearly 103 Indian rupees on local platforms, while the official USD/INR exchange rate remained below 95 rupees. That difference pushed the premium above 8.5%, well beyond the 3% to 6% range normally seen in the market.

The sharp increase follows raids carried out by India’s Enforcement Directorate against several companies providing fiat-to-crypto payment services. Authorities are investigating transactions linked to alleged unauthorized cross-border activity, leaving many users with fewer options to convert rupees into stablecoins.

Under normal conditions, traders would quickly exploit such price differences by importing cheaper USDT from international markets. However, India’s regulatory framework has made that process significantly more difficult. A 1% tax deducted at source, additional compliance requirements and declining domestic trading volumes have weakened traditional arbitrage activity.

Analysts also believe regulatory uncertainty has contributed to the higher premium, with traders paying extra to secure access to dollar-backed stablecoins while supply remains limited.

Polymarket Promises Full Refunds After Frontend Attack Steals Nearly $3 Million

Prediction market platform Polymarket says it will reimburse every affected customer after attackers used compromised third-party software to steal almost $3 million worth of digital assets.

According to the company, hackers gained access to a vendor connected to its website and injected malicious code into parts of the platform’s frontend. Instead of exploiting smart contracts, the attackers tricked users into approving fraudulent transactions through the altered interface.

Blockchain security researchers estimate the attackers stole approximately $2.94 million in PUSD tokens before bridging the assets from Polygon to Ethereum. The stolen funds were later exchanged for roughly 1,900 ETH, making recovery significantly more difficult.

Polymarket stressed that its core protocol remained secure throughout the incident and said there is no evidence that company-controlled funds or smart contracts were compromised. The breach affected only a small number of users, reportedly fewer than 15 accounts.

The attack follows another difficult period for the company. Earlier this month, Polymarket launched a review of its marketing practices after reports questioned promotional content published online. It also disclosed a separate security incident last month involving a company wallet used for employee payments and rewards.

Chainlink Joins International Banking Project Focused on Faster Cross-Border Payments

Chainlink has become part of Project Pangea, a banking initiative bringing together 47 financial institutions from Europe and South Korea to develop faster international payment infrastructure using regulated stablecoins.

The project focuses on one of the world’s busiest trade corridors, where businesses move more than $150 billion in goods each year. Participants hope blockchain technology can reduce settlement times from the traditional two-day process to near-instant completion.

Unlike payment networks that replace existing banking systems, Project Pangea plans to build on top of current financial infrastructure. Banks will continue using SWIFT messaging and ISO 20022 standards, while Chainlink will translate those instructions into blockchain-based settlement actions on the project’s dedicated network.

The announcement has renewed comparisons with Ripple, which has spent years promoting XRP-powered cross-border payments. While both initiatives seek faster international transfers, their technical approaches differ considerably.

Ripple encourages institutions to transact through its own payment network using XRP as a bridge asset between currencies. Chainlink instead acts as middleware, allowing banks to preserve familiar payment systems while modernizing the settlement layer behind them.

Developers expect live transactions within the next year, provided regulatory approvals remain on schedule. If successful, Project Pangea could demonstrate how traditional financial institutions adopt blockchain technology without replacing their existing infrastructure.

Japanese Pension Fund Plans First Crypto Allocation as Diversification Strategy

A Japanese corporate pension fund is preparing to invest in cryptocurrencies for the first time, marking a notable shift in how traditional institutional investors view digital assets. The National Business Corporate Pension Fund in Okayama City plans to begin allocating around 1% of its portfolio to crypto during the 2026 fiscal year.

Rather than making direct purchases, the fund intends to gain exposure through diversified hedge funds that already hold multiple digital assets. The approach allows managers to add crypto without taking on the operational challenges of managing wallets or executing trades themselves.

The fund oversees roughly ¥21.3 billion, or about $140 million, on behalf of more than 20,000 members across approximately 1,200 small and medium-sized businesses. Until now, most of its investments have remained concentrated in yen-denominated assets, with a smaller allocation to U.S. dollars and other foreign currencies.

The planned portfolio changes will reduce domestic currency exposure while increasing holdings in developed-market currencies, gold and cryptocurrencies. Officials describe the move as part of a broader currency diversification strategy rather than a speculative investment.

The announcement comes as Japan continues updating its digital asset regulations. Lawmakers are considering new legislation that would classify cryptocurrencies as financial instruments, while regulators are also exploring investment trusts linked to digital assets and the possible introduction of Bitcoin futures later this decade. Together, these initiatives could encourage broader institutional participation across Japan’s financial sector.

Microsoft Warns of USB Malware that Secretly Replaces Crypto Wallet Addresses

Microsoft has uncovered a new strain of malware targeting cryptocurrency users through infected USB drives, reviving an attack method many security experts believed had largely disappeared.

The malware belongs to a category known as “clippers,” programs designed to monitor everything copied to a computer’s clipboard. When victims copy a cryptocurrency wallet address before sending funds, the malware quietly replaces it with one controlled by the attacker.

According to Microsoft’s threat intelligence team, the infection begins after a user opens what appears to be a normal document stored on a compromised USB drive. The file actually launches malicious software that installs itself silently before spreading to other removable storage devices connected to the computer.

Researchers say the threat extends beyond wallet addresses. If users copy private keys or recovery phrases, the malware captures that information, giving attackers complete access to affected wallets.

To avoid detection, the program routes stolen data through the Tor network instead of communicating directly with conventional internet servers. It also provides attackers with remote access, allowing them to execute additional commands on infected systems.

Security specialists recommend verifying every character of a destination wallet address before confirming a transaction instead of checking only the beginning and end. They also encourage crypto holders to use hardware wallets whenever possible and avoid connecting unknown USB drives to computers used for managing digital assets.

Thailand Advances Digital Baht Stablecoin With Public Consultation Ahead

Thailand’s central bank is taking another step toward launching a regulated stablecoin backed by the national currency, with public consultations expected before the end of the year.

The proposed token would maintain a one-to-one peg with the Thai baht and primarily serve banks and financial institutions for settlement purposes. Officials say the initiative aims to modernize payment infrastructure while keeping transactions firmly within the country’s regulated financial system.

Governor Vitai Ratanakorn confirmed that the Bank of Thailand is preparing guidelines before opening discussions with industry participants and the public. Authorities have not yet decided whether the stablecoin will eventually support broader retail payments, as policymakers continue evaluating its impact on financial stability and consumer protection.

The proposal represents a significant shift from the central bank’s earlier stance. Several years ago, regulators warned that privately issued baht-backed stablecoins could fall under electronic money rules and require direct oversight before entering the market.

Thailand is also strengthening oversight across the broader crypto sector. Regulators recently launched consultations on stricter transfer requirements designed to improve transparency and reduce financial crime risks involving digital assets.

Unlike dollar-backed stablecoins that dominate global crypto trading, the Thai initiative focuses on preserving the role of the national currency in domestic payments. Authorities believe a regulated digital baht could improve settlement efficiency without encouraging greater reliance on foreign-currency stablecoins or weakening monetary policy.

El Salvador’s Bitcoin Reserve Faces Fresh Questions Under IMF Agreement

El Salvador’s Bitcoin holdings remain at the center of debate as the country’s official reserve continues to grow while its agreement with the International Monetary Fund prohibits voluntary government purchases of the cryptocurrency.

The government currently reports holding 7,696 BTC, valued at roughly $460 million after Bitcoin’s recent decline. President Nayib Bukele has repeatedly promoted a strategy of acquiring one Bitcoin per day, yet the IMF program introduced in 2025 established a zero ceiling for additional public-sector Bitcoin accumulation.

The apparent contradiction has fueled questions about how the reserve continues to increase. IMF officials say the reported growth reflects the consolidation of Bitcoin already owned by different government entities rather than new market purchases. According to the Fund, coins transferred between public wallets do not represent fresh acquisitions under its accounting rules.

That explanation has satisfied the IMF so far, but it has not eliminated uncertainty surrounding El Salvador’s public messaging. Official reserve trackers display higher balances than those reported when the IMF program began, making it difficult for outside observers to distinguish wallet reorganizations from new purchases.

The issue has become more visible after Bitcoin lost nearly one-fifth of its value over the past month, reducing the reserve’s market value and increasing attention on the government’s crypto strategy as future IMF compliance reviews approach.

Bitcoin Whale Adds $20 Million in BTC as Exchange Balance Continues to Shrink

A major Bitcoin investor has expanded an already sizeable position after withdrawing another 340 BTC from Binance, reinforcing a pattern of accumulation that has continued throughout recent market weakness.

Blockchain tracking platform Onchain Lens identified the transaction, estimating its value at approximately $20.3 million. Before the latest purchase, the wallet already contained 2,510 BTC. Following the withdrawal, total holdings increased to 2,850 BTC, worth more than $180 million at current market prices.

The transfer moved Bitcoin directly from Binance into a private wallet, a step that many analysts associate with long-term storage rather than short-term trading. Coins held in self-custody are generally considered less likely to return to exchanges immediately, reducing available supply in the spot market.

Large wallet activity often attracts attention because it can reveal how experienced investors behave during periods of uncertainty. While individual transactions rarely determine market direction on their own, repeated accumulation by whales may indicate confidence in Bitcoin’s longer-term outlook despite ongoing volatility.

Bitcoin has spent recent weeks trading within a relatively narrow range as investors weigh economic data, monetary policy expectations and changing institutional demand. During such periods, on-chain movements can provide additional insight into broader market positioning.

Analysts caution that whale purchases should never serve as a standalone trading signal. Instead, they recommend combining blockchain data with technical analysis, macroeconomic developments and market liquidity before making investment decisions.

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.