Cardano founder Charles Hoskinson has proposed using 140M ADA (~$100M) from the treasury to boost DeFi growth by purchasing BTC and Cardano-native stablecoins (USDM, USDA, IUSD). ADA dropped 6% following the announcement, as the community remains divided. Some see it as a bold step toward ecosystem maturity, while others argue it’s risky given market conditions and governance concerns.
💬 What’s your take on this proposal? How would this move affect long-term ADA value?
According to BlockBeats, Sentora, formerly known as IntoTheBlock, reported that over $2.4 billion worth of Bitcoin has flowed into trading platforms this week.
Nasdaq has proposed expanding its crypto benchmark index to include $XRP, $SOL, $ADA, and $XLM — potentially allowing the Hashdex ETF to gain broader exposure. The SEC deadline is expected on Nov 2, 2025.
💬 Could this increase altcoin visibility and access for traditional investors? How does this impact your portfolio strategy?
Bitcoin and Ethereum ETFs Experience Significant Inflows AI Summary According to Odaily, recent monitoring by Lookonchain reveals substantial inflows into U.S. cryptocurrency ETFs. Today, ten Bitcoin ETFs saw a net inflow of 3,565 BTC, with Fidelity contributing 1,593 BTC. Fidelity now holds a total of 198,075 BTC, valued at $21.75 billion. Additionally, nine Ethereum ETFs experienced a net inflow of 22,145 ETH, with BlackRock accounting for 13,620 ETH. BlackRock's current holdings amount to 1,526,751 ETH, valued at $4.23 billion.
U.S.-China Talks Expected to Yield Progress, Says Economic Official!
According to BlockBeats, the Director of the U.S. National Economic Council, Hassett, expressed confidence that the talks between the United States and China will make progress. Despite the brief duration of today's discussions, Hassett anticipates positive outcomes from the meeting.
Bitcoin's Realized Market Cap Reaches New Record High!
According to BlockBeats, CryptoQuant analyst Oro has reported that Bitcoin's realized market capitalization has reached a new all-time high of $934.88 billion. This milestone is seen as a significant boost to the market's long-term confidence.
The realized market cap is a key metric that operates on the principle that when Bitcoin is transferred into a wallet, it is considered a 'buy,' and when transferred out, it is considered a 'sell.' By calculating the average cost basis of each wallet multiplied by its holdings, the total realized market cap across the network can be determined. This indicator reflects the total capital entering the Bitcoin market through actual on-chain activity.
Here's a summary of the latest key developments regarding South Korea's crypto policy, focusing on..
Here's a summary of the latest key developments regarding South Korea's crypto policy, focusing on the most significant recent event and ongoing trends: 1. Landmark Regulation Takes Effect (July 19, 2024): The *Virtual Asset User Protection Act** officially came into force on July 19, 2024. This is South Korea's first comprehensive legal framework specifically dedicated to regulating cryptocurrencies and protecting users. *Key Provisions:** *Stricter Custody Rules:** Exchanges must hold over 80% of user deposits in cold wallets (offline storage). They must also maintain reserves equal to the market value of user deposits and keep them separate from company funds. Proof of reserves is mandated. *Mandatory Insurance/Reserve Funds:** Exchanges are required to set aside a portion of their fees into reserve funds or obtain insurance to cover losses from incidents like hacks or computer failures. *Enhanced Disclosure & Transparency:** Issuers of virtual assets must disclose key information (white papers, project details, risks). Exchanges must disclose listing standards, transaction details, and potential conflicts of interest. *Prohibition of Market Abuse:** The law explicitly bans unfair trading practices like using undisclosed information (insider trading), market manipulation, and fraudulent transactions. Violations can lead to significant fines or criminal penalties, including jail terms (minimum 1 year, potentially life for large-scale fraud). *Management Liability:** Executives and employees of exchanges can be held personally liable for damages caused by illegal acts. *Strengthened Penalties:** Fines for violations are significantly increased, up to 3-5 times the ill-gotten gains. 2. Focus on Spot Bitcoin ETFs: South Korean regulators (Financial Services Commission - FSC) have maintained a *cautious stance** towards approving domestic spot Bitcoin ETFs. However, the *ruling People Power Party (PPP) is actively pushing the FSC to reconsider its position**, arguing that approval is necessary to keep pace with global markets (like the US) and protect domestic investors who might otherwise seek riskier offshore options. This remains a point of political pressure and debate. 3. Continued Enforcement & Scrutiny: * Regulators are actively investigating potential violations, especially related to the new law's prohibitions on market manipulation and insider trading. * There's ongoing scrutiny of exchanges regarding compliance with the new custody, reserve, and disclosure requirements. * Tax authorities continue efforts to ensure crypto gains are properly reported under the existing capital gains tax framework (taxable above ~$1,900 USD equivalent profit per year, planned for implementation in 2025). 4. Central Bank Digital Currency (CBDC) Exploration: * The Bank of Korea (BOK) continues its research and pilot testing for a potential digital won (CBDC). While distinct from crypto assets, its development is part of the broader digital asset strategy. Key Takeaways & Outlook: *User Protection is Paramount:** The new law firmly establishes user protection and market integrity as the top priorities for regulators. *Exchanges Face Heavy Compliance Burden:** The stringent custody, reserve, insurance, and disclosure rules significantly raise the operational and financial bar for crypto exchanges operating in South Korea. Expect further consolidation or exits of smaller players. *Increased Legal Risks for Wrongdoing:** The explicit criminalization of market abuse with severe penalties marks a major shift towards stricter enforcement. *Spot ETF Debate Heats Up:** Political pressure on the FSC to approve domestic spot Bitcoin ETFs is likely to intensify, though regulatory caution persists. *Market Volatility Potential:** The implementation of the new rules (especially reserve requirements) could potentially impact liquidity and contribute to short-term volatility in the "Kimchi premium" (the price difference for crypto on Korean exchanges vs. global ones). In essence: South Korea has taken a major step by implementing its first dedicated crypto regulation (Virtual Asset User Protection Act), focusing heavily on safeguarding users, ensuring exchange solvency, and cracking down on illegal activities. While cautious on spot ETFs, the regulatory landscape is now significantly more structured and enforcement-oriented. Source: Internet #SouthKoreaCryptoPolicy