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New Era in South Korea: Crypto-Friendly Candidate Elected President
South Korea elected its new president after historic elections held on June 3rd. Lee Jae-myung, the Democratic Party candidate and opposition leader, was elected president with 49.42% of the votes in the election, the highest turnout in recent years. His conservative rival Kim Moon-soo remained at 41.15%. This result is quite critical for the Bitcoin and altcoin space. Because Lee Jae-myung is known as a pro-cryptocurrency politician.Pro-crypto candidate elected president in South KoreaThe South Korean presidential elections, the results of which were announced in the first hours of the day, were closely followed in the crypto market. Because it was known that Lee Jae-myung, one of the candidates, supported cryptocurrencies. Lee Jae-myung won the presidential elections, which took place with record participation, with 49.42% of the vote. The election carries the hope of a restructuring for the country, as it comes after a chaotic period that resulted in the failed coup attempt and impeachment of the previous leader Yoon Suk-yeol. Lee's campaign offered hope for economic recovery. However, it was also notable for introducing serious reforms on cryptoassets. What is on the new government's agenda?At the center of Lee Jae-myung's election promises is strengthening South Korea's position in the cryptocurrency market. The new president advocates the legalization of spot Bitcoin ETFs on local exchanges. Following the approval of spot ETFs in the US, the introduction of similar products in South Korea had caused excitement among investors. However, until today, the issuance and trading of such ETFs has remained prohibited in the country.Lee also plans to establish a stablecoin market indexed to the Korean won. Speaking at a policy meeting in May, Lee said, “A won-based stablecoin market is essential to prevent national wealth from fleeing abroad.”The new government's agenda also includes the second phase of crypto asset regulations. These regulations, which will focus on the transparency of stablecoins and crypto exchanges, aim to strengthen investor protection. On the other hand, Lee argues that regulations should be minimized in blockchain innovation zones. This will pave the way for tech startups and make South Korea more assertive in global competition.Lee Jae-myung is not the first president elected in South Korea with pro-crypto promises. The ousted former president Yoon also made similar promises, but no serious progress was made in practice. What is different this time is both the change in global markets and the increasing individual investor interest in South Korea. The number of users registered on crypto exchanges in the country has reached 9.7 million. This corresponds to about 20 percent of the population. It remains to be seen to what extent Lee Jae-myung's crypto-friendly policies will be implemented.
SUI Comments and Price Analysis 3 June 2025
SUI Technical Analysis – 4-Hour ChartSUI has been stuck horizontally in the $3.22–$3.32 band for a while. This region works both as a defensive line for buyers and as an area where sellers apply resistance pressure. Currently priced at $ 3.23, SUI is at the decision stage in this band. SUI Supports and Resistors In the upward scenario, it is difficult to talk about a strong acceleration unless the $ 3.3260 level is clearly broken. If this resistance zone is exceeded, the $3.59 and then $4.29 levels become the target, respectively. Especially the closures above $3.60 may create a rally mood again.Below the $3.22 level is critical. In case of a break, the initial support is at $2.9477. This level is also where the previous strong buying zone started. If it hangs down from here, a wide selling area opens up to the December of $ 2.69 – $ 2.61. This region contains both volumetric support and had worked as a strong consolidation region before the previous rise.In summary, SUI is currently stuck in the horizontal and is looking for direction. While closures below $3.22 may accelerate the decline, prices above $3.3260 may bring buyers back into play. For a clear direction, the breaking of one of these two levels should be followed.
Tether Partners with TON: XAUt0 Debuted!
Tether, one of the world's largest stablecoin companies, has taken important steps to both expand its influence in Latin America and open a new chapter in gold-backed crypto assets. The company announced an investment in Orionx, a Chile-based cryptocurrency exchange, and also announced the launch of a new gold-backed, cross-chain stablecoin called XAUt0.Access to gold via blockchain with XAUt0An important development on the Tether front was the introduction of a new gold-backed stablecoin called XAUt0. Launched on the USDT0 network, this token uses LayerZero's Omnichain Fungible Token (OFT) standard. This allows users to transfer XAUt0 between multiple blockchains without any “wrapping” process or bridge solution. The initial launch of XAUt0 on The Open Network (TON), powered by Telegram, also attracted attention. The move is a continuation of a collaboration that began when Tether moved USDt to the TON network in April 2024.Tether's current offering, the Ethereum-based XAUt, is the world's largest gold-backed stablecoin with a market capitalization of $832 million. Each XAUt token is backed by one troy ounce of physical gold stored in vaults in Switzerland. With XAUt0, this asset will now be able to move between chains and reach a wider audience of investors.Gold wind moves to cryptoIn 2025, global economic uncertainties and trade wars triggered investors' search for safe havens. The price of an ounce of gold rose as high as $3,304 at the end of May, with many gold ETFs posting gains in excess of 25% since the start of the year. Tether's XAUt0 move aims to offer a powerful digital alternative to traditional gold investments. This stablecoin is poised to attract investors' attention thanks to its ease of cross-chain integration and the fact that it is backed by physical gold.Tether powers Chile's crypto ecosystemTether also announced that it has invested in a Chile-based cryptocurrency platform called Orionx. Orionx, in which Tether has invested, is known as one of the most established crypto asset platforms in Chile. In addition, Orionx, a financial infrastructure company focused on cross-border payments, aligns with Tether's vision to increase financial inclusion in emerging markets. Tether's strategic investment will directly contribute to the growing crypto adoption in Latin America.The company said in a statement that this investment was made to “build strong and resilient digital payment channels”. Especially in regions where access to traditional banking systems is limited, stable assets like USDT play an important role in increasing economic inclusion.
Robinhood Acquires Cryptocurrency Exchange Bitstamp!
There was an important milestone in the cryptocurrency world. Robinhood, the US-based online investment platform, officially launched its international expansion in the crypto space by acquiring Bitstamp, one of the world's most established cryptocurrency exchanges, for $200 million. This acquisition is considered to be the most concrete step Robinhood has taken in its goal of reaching institutional crypto investors as well as retail investors.Robinhood acquires cryptocurrency exchange BitstampRobinhood Markets has completed the acquisition of Bitstamp, a global cryptocurrency exchange. Bitstamp, which has offices in Luxembourg, the UK, Slovenia, Singapore and the US, was founded in 2011 and this acquisition is expected to significantly accelerate Robinhood Crypto's worldwide expansion. Bitstamp has more than 50 active licenses and registrations worldwide. It will therefore bring customers from the EU, UK, US, and Asia to Robinhood. Bitstamp has a reputation for transparency and reliability, especially among institutional investors. With over 85 crypto assets listed, Bitstamp has long been seen as a safe haven for investors moving from traditional markets to crypto.Vlad Tenev, CEO of Robinhood, said in a statement after the acquisition that by integrating Bitstamp's many years of experience into their platform, “a more secure and integrated crypto trading era” will begin. The all-cash deal marks Robinhood's strong entry into the institutional crypto trading space, which it has so far shied away from.Opening new doors to Europe and AsiaRobinhood's move not only expands its product portfolio, but also accelerates the company's global growth strategy. The fact that Bitstamp already has an established and active user base in the European Union, the United Kingdom and Asian markets will allow Robinhood to quickly enter these regions. Thus, Robinhood aims to grow into a broader ecosystem targeting not only individual investors in the US, but also institutional players in Europe and Asia.Bitstamp's deep liquidity pools, advanced API connections, and infrastructure for high-frequency trading will be integrated into Robinhood's crypto trading systems, enabling it to provide 24/7 uninterrupted service. This means that Robinhood will offer a more comprehensive and competitive platform for both individual and institutional investors.“Bitstamp by Robinhood” era beginsFollowing the completion of the acquisition, Bitstamp will continue to operate under the name “Bitstamp by Robinhood”. While the brand's existing identity will be preserved, the technology infrastructure will be integrated with Robinhood systems to enhance user experience and product diversity. According to industry experts, this acquisition could be a harbinger of other crypto investments Robinhood will make in the future. It remains to be seen how Bitstamp will continue its operations after the Robinhood acquisition and how Robinhood will benefit from it.
Solana Shakes Hands with Dubai: 'Solana Economic Zone' on the Agenda
The Solana Foundation took a critical step towards expanding its presence in the Middle East by signing a Memorandum of Understanding (MoU) with Dubai's Virtual Assets Regulatory Authority (VARA) on June 3, 2025. The agreement also includes Solana's plans to establish a “Solana Economic Zone” in Dubai and aims to promote blockchain innovation in the region. Here are the details of the deal...New Solana era in DubaiSolana Foundation plans to establish a Solana Economic Zone in the region under a Memorandum of Understanding (MoU) signed with Dubai's Virtual Assets Regulatory Authority (VARA). This collaboration aims to create a closer collaborative environment between developers and regulators in the crypto sector. Planned activities include skills development trainings, workshops, consulting sessions and industry data sharing. The partnership is hardly surprising given Dubai's leadership ambitions in Web3 governance and blockchain innovation. “This partnership allows Solana founders to directly connect to the momentum in the region,” the Solana Foundation said in a post on social media platform X.Corporate interest on the rise: SOL on companies' radarSolana has been attracting the attention of many companies recently. Most recently, Asia-based fertility services provider NewGenIvf Group Limited announced the other day that it will invest $30 million in staking on the Solana network. The company stated that it made this decision by increasing its confidence in crypto assets after its initial investment of $ 1 million in Bitcoin in December 2024. As part of this strategic move, the company plans to establish a special subsidiary that will focus on crypto asset operations.On the other hand, as we reported in the morning, Solana took its place in Classover Holdings' balance sheet. In this context, the company signed an agreement with Solana Growth Ventures LLC for the issuance of convertible bonds up to $ 500 million. According to the agreement, 80 percent of the proceeds will be used directly in the purchase of SOL. Although the company shares increased by 39.85 percent after the announcement, there was a slight decline in post-session transactions.Slight increase in SOL priceThe Solana (SOL) price rose by 4 percent to $ 162 after these developments. However, there has been a decline of 9 percent in the last seven days, 5 percent in the last 14 days and 4.8 percent compared to the same period last year. Solana fell as low as $ 9 after the FTX collapse in 2022. However, it became one of the best performing cryptocurrencies in 2024. SOL, which has recently struggled to exceed certain price levels, is expected to regain momentum as the Bitcoin price recovers and such strategic moves with Dubai are more widely adopted.
Ripple's Stablecoin Gets Green Light from Dubai!
RLUSD, Ripple's enterprise-grade stablecoin, has received approval from the Dubai Financial Services Authority (DFSA) and can now be legally used within the Dubai International Financial Center (DIFC). This opens a new chapter for RLUSD in the Middle East market.Ripple RLUSD will be available in DIFCThe DIFC is a special economic zone established in 2004, where more than 7,000 companies operate today. It is known as an attractive hub for financial and technology companies. Ripple became the first blockchain service provider in this area by obtaining a license from the DFSA last October. Now, the direct integration of RLUSD into the DIFC ecosystem means that the stablecoin can be actively used by companies in the region in areas such as corporate finance transactions, cross-border payments and liquidity management. RLUSD was first launched in December 2024 and received approval from the New York Department of Financial Services (NYDFS) ahead of the launch. Developed under the supervision of the NYDFS, considered one of the most stringent regulatory authorities in the US, RLUSD is backed one-to-one with US Treasuries, bank deposits and cash equivalents. RLUSD is issued natively on both the XRP Ledger and Ethereum networks. Ripple also emphasizes that RLUSD's reserve management is transparently audited, offering confidence to investors and regulators.In a statement in December 2024, Ripple CEO Brad Garlinghouse stated that the launch of the stablecoin under the roof of NYDFS was a conscious strategic choice and said, “In this period when the US is moving towards clearer regulations, we anticipate that the adoption of stablecoins with real use cases and years of trust in the industry, such as RLUSD, will accelerate.”Important names on the advisory boardRLUSD's advisory board includes former Reserve Bank of India Governor Raghuram Rajan and former Boston Fed Vice President Kenneth Montgomery. They are leading the project alongside other prominent figures in the financial world, such as former FDIC Chair Sheila Bair and Ripple co-founder Chris Larsen.RLUSD is traded on many exchangesRipple's US dollar-backed stablecoin has already expanded its reach by being listed on various cryptocurrency exchanges since its launch in December 2024. RLUSD was initially traded on platforms such as Uphold, Bitso, MoonPay, Archax and CoinMENA, and has since been added to exchanges such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve and Zero Hash. As of 2025, RLUSD is supported on exchanges such as Bitget, Gemini, Kraken, LMAX Digital, B2C2, Keyrock and JST Digital. Other platforms such as Revolut, Banxa, B2C2, Keyrock, Flowdesk also support RLUSD.
Nasdaq-Listed Company Takes a Bold $500 Million Step into Solana
A new chapter in institutional interest in cryptocurrencies is opening. Nasdaq-listed education technology company Classover Holdings Inc. announced that it will launch a Solana (SOL) based treasury strategy. While many companies have been buying Bitcoin (BTC) recently, it's still surprising to see altcoins as the treasury of choice.Classover Holdings plans to launch Solana treasuryUS-based education technology company Classover Holdings Inc. announced its plan to launch a Solana (SOL) based treasury strategy. Following its announcement, it experienced a remarkable rise of nearly 40 percent on Nasdaq! The New York-based company said in a statement that it has signed a securities purchase agreement with Solana Growth Ventures LLC for the issuance of up to $500 million in senior secured convertible bonds. The bonds to be issued by the company are the type of bonds that can be converted into company shares when certain conditions are met in the future. In other words, they are known as “convertible notes”. The company expects to receive initial funding of $11 million shortly after the completion of customary closing conditions.Under the terms of the deal, Classover must use up to 80 percent of its net proceeds directly in SOL purchases. This, combined with the $400 million share purchase agreement the company announced last month, brings Classover's total potential financing capacity to $900 million.Stephanie Luo, CEO of the company, said that this step is a major strategic milestone, and added: “With this agreement, we have made a significant step forward in our goal of creating a SOL-based treasury reserve. At Classover, we aim to pioneer blockchain-driven financial strategies and be one of the first examples among publicly traded companies to integrate SOL directly into our treasury system.”Classover shares jumpedFollowing the announcement, Classover shares traded at $ 3.72, up 39.85 percent. However, when looking at post-session transactions, it declined with a 1.88 percent drop. While the share price fell 48.19 percent in the last month, it had lost 7.23 percent since the beginning of the year. Founded in 2020, Classover offers live online education solutions for students at the K-12 level. With the SOL strategy, the company aims to strengthen its balance sheet through this high-performance and scalable cryptocurrency. Solana is known as a fast and low-cost blockchain network that can process thousands of transactions per second. Promising lower transaction fees and high scalability compared to Ethereum, Solana is increasingly being adopted in ecosystems. SOL, the network's cryptocurrency, also continues to attract attention.With this move, Classover has joined the ranks of companies building SOL reserves. Companies such as SOL Strategies, DeFi Development Corp., Upexi and Janover are similarly aligning their operations with the Solana ecosystem.
TOTAL Comments and Price Analysis 2 June 2025
Historic Breakout in the Crypto Market: Is the TOTAL Chart Signaling a New Super Bull Wave?Major Structure: Combination of “Falling Wedge + Cup & Handle + S/R Flip”The total market capitalization (TOTAL) chart in the cryptocurrency market may be indicating that we are on the verge of a new super bull season, having broken a historically significant structure from a technical analysis perspective. The weekly chart below illustrates this long-term technical formation in detail. Let’s examine the formations, breakouts, and trend structures on the chart to understand why the market is experiencing a major breakout and where it could go next.Three major structures stand out on the chart: TOTAL a) 2021 ATH (All-Time High) Trend Resistance: This resistance line, indicated with red arrows, has been tested and rejected multiple times since 2021. It formed a strong macro resistance zone in the ~$2.85T – $2.95T USD range.b) Falling Wedge Structure: The price compression between 2022 and 2025 resembles a classic falling wedge formation. These types of structures generally break to the upside.c) Cup & Handle Formation: The large “cup” formation that began at the 2021 peak and continued through 2024 formed a “handle” with a short correction at the beginning of 2025. This type of formation is known in technical analysis as a bullish continuation pattern.Successful Retest: Resistance Becomes SupportThe retest shown with the blue arrow on the chart is extremely critical. The macro trend line from 2021 was broken to the upside in 2025 and then successfully retested, acting as support. This is a classic example of a Support/Resistance Flip (S/R Flip). It confirms that the breakout is valid and sustainable.Technically:a) Weekly closes are now occurring above this line.b) Liquidity was taken during the retest, followed by a strong recovery.This structure confirms that the market is preparing for its next major leg up.Ascending Triangle + Parabolic Curve: Breakout Pattern After CompressionThe symmetrical triangle on the right side of the chart is a classic compression model. Especially when such compression breaks upward with volume, parabolic movements often follow.The lower band of the triangle aligns with both the ascending trend support and the handle portion of the large formation.Movement toward the upper band generally signals the potential for major breakouts.If the breakout from this structure occurs to the upside, the targets, based on Fibonacci and formation measurements, could be:$3.85T USD (initial target),Between $4.65T and $5.00T USD.What Does the Macro Trend Say?This breakout is not just a technical formation but also a major confirmation that the bull cycle is continuing. Key supports include:The 5-year uptrend: still intact.Macro retest successfully completed.Formations (cup-handle, wedge, triangle) are all bullish.All these technical indicators suggest that the market is structurally preparing for an upward explosion and that this move could launch not just a short-term rally but a medium-to-long-term super trend.Conclusion: Has the Super Bull Begun?The chart delivers several clear messages:The trend that couldn’t be broken since 2021 has now been surpassed.Resistance has turned into support (S/R Flip).The cup & handle formation is complete.A breakout structure has formed following compression.
APT Comments and Price Analysis 2 June 2025
Aptos (APT) Technical AnalysisAPT has been struggling to determine a clear direction on the daily chart, currently moving sideways within a tight range between $6.23 and $4.76. This consolidation zone holds significant importance for investors, as price action within this area may signal the next directional move.At the time of writing, APT is trading around $4.728, just above the $4.76 support level — a region that previously triggered notable buying interest. However, the downtrend structure remains intact, and price action near the lower boundary of the range suggests that caution is still warranted. Support Levels:$4.88 – $4.76: The major support zone currently being defended$4.48: Final support before deeper downside risk$4.00 – $4.20: Liquidity zone and potential demand area in case of breakdownResistance Levels:$5.24: Key point of interest (POI) frequently tested in past moves$5.62 – $5.76: Major descending trendline resistance$6.23: Post-breakout resistance and upper boundary of the consolidation rangeAs long as the $4.76 level holds, a short-term sideways recovery remains on the table. A breakdown below this level, however, could accelerate the decline toward $4.48 or even the $4.00–$4.20 liquidity zone.On the upside, a decisive breakout above $5.62 – $5.76 could signal the end of the downtrend and initiate a new bullish phase. Maintaining price action above $4.88 is crucial for preserving positive momentum in the near term.Conclusion: APT continues to trade within a tight consolidation range, with $4.76 acting as critical support. If this level holds and price regains $4.88, bullish momentum may start to build. On the other hand, a breakdown below this region could expose APT to deeper losses. Traders should closely monitor support-resistance zones for directional confirmation.Disclaimer: This analysis does not constitute investment advice. It focuses on support and resistance levels that may present potential short- to mid-term trading opportunities depending on market conditions. However, all responsibility for trading decisions and risk management lies entirely with the user. The use of stop-loss orders is strongly recommended for any trade setup shared.
Strategic Partnership for XRP from Webus and Samara Alpha
China-based mobility and artificial intelligence solutions company Webus International is entering a new phase in its digital asset strategy. Listed on NASDAQ under the ticker WETO, the company has signed a $300 million asset management agreement with U.S.-based investment firm Samara Alpha to manage its XRP reserves.A Corporate Strategy Centered on XRPWith this agreement, Webus joins the ranks of companies positioning XRP as a reserve asset. Although the transfer of XRP assets has not yet taken place, the framework agreement signed between the parties will enable Webus to manage these assets professionally through Samara Alpha in the future.This step reflects Webus's intention to establish a regulation-compliant and institutionally standard digital asset strategy. The company sees XRP not only as a reserve asset but also as a low-cost and fast alternative for cross-border payment solutions.“Risk Control Through Professional Management”Commenting on the development, Webus CEO Nan Zheng said, “Working with a partner at institutional standards will allow us to effectively manage risks while managing our digital assets. This agreement is just a beginning for us,” he said.Samara Alpha Investment Director Adil Abdulali described the cooperation with Webus as “a long-term and reliable digital asset management strategy.”Increasing Institutional Interest in XRPDue to its low transaction costs and high transaction speed, XRP is increasingly attracting the attention of institutional companies, particularly in the field of financial technologies. Webus’s move is considered one of the important developments supporting the institutional growth of the Ripple ecosystem.Recent similar moves from various industries show that XRP is seen not only as an investment vehicle but also as a serious payment and reserve asset.
FTSE-Listed IG Becomes First to Offer Spot Crypto Trading in the UK
London-based investment platform IG Group (IGG) announced that it has taken a significant step in the cryptocurrency market, becoming the first publicly traded company in the UK to offer spot cryptocurrency trading to individual investors. Until now, the company has only offered access to crypto assets through derivatives. This move enables it to expand its crypto reach with direct spot market trading for the first time.IGG to launch spot cryptocurrency tradingIG Group has become the first publicly listed company in the UK to offer spot cryptocurrency trading to individual investors. While some platforms have previously offered crypto services in the UK, they were either private companies or only offered derivatives (such as CFDs). The difference with IG's move is that it is both a publicly traded firm and it is launching direct spot trading, where traders can actually own BTC or ETH.Under the new service, traders will be able to conduct spot trades on Bitcoin (BTC), Ethereum (ETH) and various smaller tokens. The company has partnered with Uphold, a US-based crypto-focused fintech company, to offer this new service. Thus, crypto trading has been integrated into IG's platforms, where stocks, foreign exchange, commodities and derivatives are already traded.Previously, IG's access to the cryptocurrency market was limited to derivative instruments such as contracts for difference (CFDs). However, spot market trading, where users can directly own assets, significantly expands the range of services in this area. Following this development, IG Group shares rose by around 0.25% in intraday trading, with the FTSE 100 index flat. Source: FTSE Nevertheless, IG's move raises some question marks. Traders will have to ride out price fluctuations without leverage on the service. They will also bear the full tax burden on the gains and deposit protection insurance will not apply. The FCA is also still setting capital adequacy and asset security criteria for firms holding client crypto. This means that some changes to the compliance process may be required in the future.On the other hand, crypto markets remain buoyant in parallel with IG's product launch. As of June 2, the total market capitalization has reached nearly $3.3 trillion and the price of Bitcoin remains stable at around $105,000.Legal framework for cryptos on the agenda in the UKMeanwhile, cryptocurrencies and especially stablecoins remain on the agenda in the UK. In the country, draft laws covering crypto trading and stablecoin issuance activities were opened for discussion, with two separate public consultation documents published in April.
CoinShares Data: Funds Flowed to Ethereum, Solana and 3 Altcoins in One Week!
According to the latest “Digital Asset Fund Flows Weekly Report” published by CoinShares, cryptocurrency investment products saw new inflows of $286 million last week. This brings the total fund inflows for seven consecutive weeks to $11.1 billion. Ethereum, in particular, witnessed one of the largest fund inflows. However, despite the positive inflows, total assets under management (AUM) fell from $187 billion to $177 billion due to market volatility.Bitcoin stalls as Ethereum rally continuesEthereum led the way with weekly fund inflows of $321.4 million, totaling $1.19 billion over the last six-week period. This performance marks the strongest institutional interest since December 2024. Ethereum's total fund inflows since the beginning of the year have reached $ 1.4 billion.On Bitcoin's side, inflows, which started strong at the beginning of the week, were reversed by the uncertainty after a US court declared import tariffs illegal. As a result, it closed the week with an outflow of $8 million. This was the first weekly outflow after six weeks of strong inflows of $9.6 billion. Bitcoin's total fund inflow since the beginning of 2025 still stands at $10.2 billion.Other altcoins have mixed signalsAccording to the details of the report, Ethereum as well as several altcoins continued to attract investor interest. Sui, while positively differentiating with a weekly inflow of $ 2.2 million, has reached a net inflow of $ 98 million since the beginning of the year. Solana also closed the week with inflows of $1.5 million, maintaining its year-to-date inflow level of $81 million. However, outflows continued in some altcoins. XRP experienced outflows for the second week in a row, recording a negative flow of $28.2 million. Across 2025, it still has a net inflow of $198 million. Coins such as Litecoin ($200K), Cardano ($100K) and Chainlink ($800K) saw low levels of fund inflows. Chainlink, however, stands out with an outflow of $122 million for the year.Multi-asset products saw outflows of $2.4 million and Short Bitcoin products saw outflows of $3.6 million. The outflow observed especially in “Short Bitcoin” positions may indicate that short-term bearish expectations in the market are weakening.The US maintains its leadershipLooking at the regional breakdown, the US was by far the leader with a weekly inflow of 199 million dollars. The US, whose total fund inflows have reached USD 10.8 billion since the beginning of the year, was followed by two noteworthy Asian countries. Hong Kong displayed the strongest weekly performance in this area with a fund inflow of 54.8 million dollars last week. Germany and Australia entered the list with inflows of $42.9 million and $21.5 million, respectively.In contrast, Switzerland experienced the largest regional outflow of funds with a weekly outflow of $ 32.8 million. Switzerland stands out with a total outflow of 288 million dollars since the beginning of the year. Sweden ($3.9 million), Brazil ($3.2 million) and Canada ($21.1 million) were among the other countries that experienced outflows.
Hack Suspicion at Taiwan-Based Cryptocurrency Exchange: 11.5 Million Dollars Missing!
While security breaches in the cryptocurrency world are becoming more complicated every day, the alleged cyberattack suffered by the Taiwan-based exchange BitoPro has created a wave of concern in the industry. In this incident, which allegedly took place on May 8, approximately $11.5 million in assets were withdrawn from the exchange's hot wallets in suspicious transactions. These allegations, made by blockchain detective ZachXBT, have been complicated by the use of anonymization tools such as Tornado Cash and Thorchain. The silence of BitoPro, which has not made an official statement for more than three weeks, has created uncertainty.Alleged hack for cryptocurrency exchange BitoProTaiwan-based cryptocurrency exchange BitoPro is believed to have suffered a cyberattack worth approximately $11.5 million on May 8, according to on-chain analyst ZachXBT. Suspicious outflows were detected from hot wallets on various blockchain networks, including Tron, Ethereum, Solana and Polygon. However, more than three weeks after the incident, BitoPro has yet to make a public statement. ZachXBT posted on his Telegram channel that there have been suspicious outflows of funds from the exchange's hot wallets on multiple networks. It was stated that the stolen funds were transferred to the mixer service Tornado Cash, then bridged to Bitcoin via Thorchain and deposited into the Wasabi wallet. In this process, it became almost impossible to trace the funds. Because such mixers and cross-chain bridges are tools used to make it difficult to trace cryptocurrency transfers. Through mixers, attackers send cryptocurrencies to different addresses by splitting or mixing them. This breaks the connection between the source and the recipient of the assets.Users started sharing ZachXBT's claims on BitoPro's official Telegram channel. A few hours ago, a channel administrator posted the following message: “Many questions came in, we will respond to all of you collectively.” However, this message was not followed by a concrete statement. It remains unclear to what extent user assets were affected in the BitoPro attack. The person or groups who carried out the attack have not yet been identified.Bybit was hacked at the beginning of 2025This brings to mind the Bybit hack in early 2025, which resulted in a $1.4 billion loss. The Bybit attack similarly utilized mixer services such as Wasabi, Tornado Cash and Thorchain, circulating funds through cross-chain bridges and peer-to-peer (P2P) exchanges. According to the most recent statement by Bybit's CEO, more than 27 percent of the stolen funds, about $380 million, are still untraceable. The Lazarus Group, a notorious North Korean-backed cyber hacking group, is believed to be behind the attack.
BNB Comments and Price Analysis 31 May 2025
BNB Daily Chart Technical AnalysisWhen analyzing the BNB daily chart from a technical perspective, it’s clear that the price has been moving within a well-defined ascending parallel channel since the beginning of 2024. Supported by the lower boundary of the channel, the ongoing upward trend reflects a sustained medium- to long-term bullish outlook. BNB Rising Trend The current price is trading at 659.90 USDT. This level is very close to a key horizontal resistance zone at 675.29 USDT. The 675.29 level has been tested and rejected multiple times in the past, making it a highly significant technical threshold. A breakout above this resistance would be a strong bullish signal, with the next major resistance target at 721.80 USDT. This level is critically important as it represents both a horizontal resistance and the upper boundary of the ascending channel.On the downside, the first strong support is at 628.83 USDT. If this level fails, the next supports are at 610.98 and 563.51 USDT. Notably, 563.51 USDT is located very close to the lower boundary of the channel, and potential buying interest from this area could be crucial for sustaining the current trend. Below that, 504.98 and 461.93 USDT are the next support levels to watch.From a chart pattern perspective, there are no notable formations such as a symmetrical triangle, falling wedge, or broadening wedge. Price action is progressing in a clean, classic ascending channel, which allows for the application of simple and clear trading strategies.While no strong volume breakout has been observed yet, a breakout with increased volume as the price nears the upper channel boundary could accelerate the trend. In particular, daily closes above 675 USDT would serve as confirmation for continued upward movement.In summary:BNB is moving within an ascending channel.The 675 USDT resistance is critical for a breakout.721 USDT is the upper target.Channel support lies near 563 USDT.
Telegram and the TON Ecosystem Are Growing: AI Integration and Giant Financial Enterprise
A New Era Powered by Artificial Intelligence on TelegramTelegram has recently drawn the attention of the tech world with two major moves in artificial intelligence and financial restructuring. Thanks to its collaboration with Elon Musk’s initiative xAI, the advanced chatbot Grok has been directly integrated into the Telegram application. With this integration, users can now access Grok’s features within the app without needing to install any additional software. Grok transforms the communication experience with AI-powered capabilities such as document summarization, real-time responses, smart search, and content generation in chats.Impact of Grok AI on TelegramSome of Grok bot’s most impressive features include its ability to provide smart responses even in group chats, save users time by summarizing documents, and guide conversations based on user interests. These features are more broadly available to Telegram Premium users, while free users will have limited access after a certain period. Telegram ensures data security by maintaining its existing privacy infrastructure throughout all these operations.Financial Empowerment Through Bond IssuanceFollowing the AI step, Telegram made another major announcement: a plan to raise $1.5 billion through the issuance of five-year bonds with a 9% interest rate. The funds raised will be used to buy back debt from a previous bond offering in 2021. Telegram’s new bonds can be converted into discounted equity shares in the event of a future IPO. This structure offers investors a potentially significant return opportunity.Investor Interest and Reflections on the Crypto MarketThe bond offering has attracted notable attention. Institutional giants like BlackRock, Mubadala, and Citadel have participated in the initiative, reinforcing their trust in Telegram and its future vision. The structure of the bond not only aims to repay debt but also creates a robust resource for future investments.These developments have also impacted the cryptocurrency market. Following the announcement of Grok AI’s integration, Toncoin (TON) — the digital asset associated with Telegram — gained 23% in value in a short period. With a market cap reaching $7.5 billion, Toncoin once again captured investor attention. Additionally, tokenization initiative Libre plans to digitize $500 million worth of Telegram debt via TON, marking a significant step at the intersection of blockchain and traditional finance.Durov’s Legal Process and Company Expansion GoalsMeanwhile, a legal process involving Telegram CEO Pavel Durov has not overshadowed the company’s expansion plans. An investigation launched in France claims that Telegram has not adequately cooperated in the fight against illegal content. Durov, however, denied the allegations, stating that all official requests have been addressed within legal frameworks. The case has also prevented Durov from traveling to the United States.These strategic moves appear poised to shape Telegram’s future positioning. The AI integration is significantly improving user experience, while the bond issuance strengthens debt management and creates capital for new investments. The rise of Toncoin and strong interest from institutional investors demonstrate that these strategies are already having an impact in the short term.Key highlights from Telegram’s recent developments:Grok AI is integrated directly into Telegram, offering in-app AI-powered features.$1.5 billion will be raised through bond issuance; the funds will be used to repurchase existing debt.BlackRock, Mubadala, and Citadel have shown interest in the bond offering.Toncoin gained 23% in value after the Grok AI integration announcement.Telegram CEO Pavel Durov denies allegations in an ongoing investigation in France.
