Galaxy Digital transferred over 10,000 BTC, worth about $1.2 billion, to exchanges within 8 hours.
The BTC originated from a Satoshi-era whale’s address reactivated after 14 years of dormancy.
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Galaxy Digital moved more than 10,000 Bitcoin, valued at approximately $1.2 billion, to crypto exchanges over the last 8 hours, according to on-chain data tracked by Lookonchain.
Note that #GalaxyDigital has deposited over 10,000 $BTC($1.18B) to exchanges in the past 8 hours!
The transfer comes after Galaxy Digital received over 80,000 Bitcoin from a Satoshi-era whale who had not accessed the funds for 14 years.
The dormant Bitcoin addresses were reactivated earlier this month, initiating the movement of all coins during a period when Bitcoin reached new all-time highs above $122,000.
Bitcoin’s price declined from above $119,000 to below $116,000 late Thursday, CoinGecko data shows.
The digital asset is currently trading at around $115,800, representing a 2% decrease over the past 24 hours.
Chris Larsen’s wallet has moved 50 million XRP worth about $175 million since July 17.
The wallet’s activity follows a major security breach where $112 million in XRP was stolen in January 2024.
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A wallet tied to Ripple co-founder Chris Larsen has transferred 50 million XRP, worth around $175 million, to four addresses since July 17, with about $140 million ending up on exchanges, on-chain investigator ZachXBT revealed today.
Since July 17, 2025 an address linked to Ripple co-founder Chris Larsen transferred out 50M XRP ($175M) to four addresses.
According to CoinGecko data, XRP reached a historic peak of $3.6 on July 18, driving its valuation to $215 billion. That surge also helped it flip American Express and McDonald’s in size, though the takeover was temporary, per CompaniesMarketCap.
XRP now ranks as the third-largest crypto asset by market value.
The sending wallet is part of a group of wallets connected to Larsen that previously transferred $109 million in XRP to exchanges in January 2025, as previously identified by ZachXBT. The wallets had been dormant for at least six years, raising questions about whether Larsen still had access to them.
The transfers follow a January 2024 security incident where Larsen lost $112 million in XRP through a hack linked to a LastPass security breach from 2022.
The stolen funds were quickly distributed across various crypto exchanges, including Binance, Kraken, and OKX. While Binance managed to freeze $4.2 million worth of stolen XRP, attackers had already laundered or converted most of the funds.
PUMP is down more than 50% since its pre-sale, as the meme coin launchpad’s airdrop buzz runs out of steam.
Alon said the team would announce the timeline and full details about the airdrop when everything is finalized.
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PUMP, the native token of meme coin launchpad Pump.fun, has plunged over 50% in less than two weeks following its pre-sale, as airdrop hype fades.
The token, initially priced at $0.004 during its ICO, surged to $0.0067 following the launch event but quickly retraced below $0.005 in the days after. As of Tuesday, it slipped below its ICO price and continued falling today after project chief Alon Cohen said an airdrop is not coming soon.
“When it comes to the airdrop, as we promised when we initially announced the TGE, there will be an airdrop. That should come as no surprise to anybody. We’re going to keep our word, and our goal with that airdrop is to obviously reward the community that helped build a platform that…has flourished for the past one, one and a half years,” said Alon in a Wednesday interview with Michael “ThreadGuy” Jerome.
“We want to make sure that it is a meaningful airdrop and it is executed well,” Alon added, noting that the team is focusing on the ecosystem’s long-term growth.
“We’re actually focusing on bringing back a lot of that attention and hype to our ecosystem. That being said, the airdrop is not going to be taking place in the immediate future, but we will be, you know, we will communicate any timelines or any details, whatever those details are, are available,” he said.
Investors’ sentiment around PUMP appears to be mixed. According to data tracked by Lookonchain, Jeffrey Huang, commonly known as Machi Big Brother, has added to his PUMP long position despite being down over $5.8 million amid the token’s steep decline.
The wallets linked to private sale investors, on the other hand, sold over 1.2 billion PUMP at $0.003 in the past two hours, resulting in a loss of approximately $1 million.
JPMorgan disagrees with the US Treasury’s prediction that the stablecoin market will reach $2 trillion by 2028.
USDT and USDC account for over 60% of the current stablecoin market, which JPMorgan expects to only double or triple in size.
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JPMorgan isn’t buying into the $2 trillion stablecoin hype. Despite growing political and institutional enthusiasm, the bank thinks the projection is “a little bit optimistic.”
According to JPMorgan’s strategists, the digital dollar-pegged asset class still lacks the robust infrastructure needed to support exponential growth. Instead of ballooning to $2 trillion, the bank expects the sector to grow at a more measured pace, likely doubling or tripling by 2028.
The global stablecoin market is currently valued at approximately $270 billion, with Tether’s USDT and Circle’s USDC dominating the sector, per CoinGecko.
“While adoption is poised to grow further, it might be at a slower pace than what some might anticipate,” the bank’s strategists stated, first reported by Bloomberg.
“We suspect liquidity investors, whether retail or institutional, are not going to immediately jump into payment stablecoins as a cash alternative given their conservative nature in terms of how they manage their cash as a source of liquidity,” they added.
Standard Chartered said in an April report that the stablecoin supply could reach $2 trillion within the next three years.
US Treasury Secretary Scott Bessent appeared to agree with the estimate. During a Senate hearing last month, Bessent said that the US dollar-backed stablecoin market could surpass $2 trillion by the end of 2028, thanks to supportive legislation like the GENIUS Act.
Enacted last Friday, the new law is expected to reinforce the dollar’s global status, especially with major banks and companies pushing into the stablecoin space.
JPMorgan is actively exploring stablecoins despite Jamie Dimon’s skepticism
JPMorgan Chase CEO Jamie Dimon confirmed during the bank’s second-quarter earnings call last week that the bank is committed to exploring stablecoin technology despite his skepticism about its utility compared to traditional payment methods.
The bank has also reportedly joined forces with Bank of America, Citigroup, and Wells Fargo to explore a joint stablecoin initiative in a bid to stay competitive against fintech developments and US legislation that creates a regulatory framework for stablecoins.
Last month, the largest US bank by total assets launched a pilot for a stablecoin-like deposit token, JPMD, for institutional clients.
The move follows mounting criticism and investor frustration, as a report from AggrNews revealed McCann’s plans to raise $1 billion for a Solana-focused treasury company despite the fund’s steep losses.
In a public statement posted on X, McCann said the fund’s high-volatility strategy had ceased to serve investors and acknowledged that Asymmetric must adapt with discipline.
He stated that Asymmetric’s priority is to focus on future opportunities, adding that limited partners have the option to redeem their capital regardless of lock-up periods or roll it into a new illiquid investment.
“Since inception, every valid redemption request from Asymmetric’s liquid funds has been honored,” McCann stated, adding that the broader firm operates multiple vehicles, and other strategies have performed better. “Our venture strategy remains unchanged and unwavering in its commitment to source and support the future of blockchain.”
McCann did not provide further comment but emphasized the importance of resilience, stating that while sharing disappointing results is never easy, moving forward remains the only path ahead.
MARA Holdings will raise $850 million through zero-coupon convertible notes to fund Bitcoin acquisitions and strategic purposes.
A portion of the proceeds will be used to repurchase existing notes and reduce dilution risks through capped call transactions.
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MARA Holdings said Wednesday it plans to raise $850 million via a private sale of zero-coupon convertible senior notes. Proceeds will be used for debt buybacks, capped call transactions, Bitcoin accumulation, and corporate purposes.
Of the total proceeds, $50 million will be earmarked for repurchasing part of the company’s 1.00% convertible notes due 2026; the remainder will be applied to previously disclosed uses.
The notes will be convertible into cash, MARA common stock, or a combination of both, at the company’s discretion. Before May 1, 2032, conversions will only be permitted during specific periods and under certain conditions. The initial conversion rate and other terms will be determined during pricing.
As part of the offering, MARA plans to enter into private capped call agreements with the initial buyers or their affiliates. These agreements are meant to limit the dilution of MARA’s common stock if the notes are converted into shares by covering the same number of shares tied to the notes, adjusted for any changes, like stock splits.
Also on Tuesday, MARA reported mining 2,358 BTC in Q2, ending June with 310,000 energized miners and 49,951 Bitcoin. The company is now the second-largest corporate holder of Bitcoin, only behind Strategy, which owns 607,770 BTC worth over $72 billion.
BNB hit a new all-time high above $800, outperforming Bitcoin and reclaiming the fifth spot in market capitalization.
Institutional interest in BNB is rising, with companies and funds adding BNB to treasuries and projections targeting higher future prices.
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BNB, formerly known as Binance Coin, surged 5% in the past 24 hours to reach a new all-time high above $800, according to data from CoinGecko. On Binance, the crypto asset hit a high of $804 on Tuesday evening.
The recent rally has pushed BNB’s market capitalization to $111 billion, overtaking Solana (SOL) as the fifth-largest crypto asset. SOL’s market cap currently hovers around $110 billion.
The native token of the Binance ecosystem, which last peaked at $750 in December 2024, has outperformed Bitcoin with a 16% gain over the last seven days, compared to Bitcoin’s 2% increase.
The surge comes as publicly traded companies increasingly diversify their treasury strategies beyond Bitcoin, with major altcoins like Ethereum, XRP, SOL, BNB, and Litecoin likewise gaining traction.
On Tuesday, Nasdaq-listed Nano Labs announced it had expanded its BNB holdings to approximately 120,000 tokens, valued at around $90 million. The firm recently acquired an additional 45,684 BNB through OTC deals.
Nano Labs also plans to continue accumulating the token, acquire controlling stakes in BNB-focused entities, and invest in firms that treat BNB as a core reserve asset.
Nasdaq-listed Nano Labs expanded its BNB holdings to 120,000 tokens, valued at approximately $90 million. The company acquired an additional 45,684.9862 BNB through OTC transactions at an average price of $764 per token, with a total average purchase cost of $707 per token.
Institutional momentum is building elsewhere, too. YZi Labs, the family office of Binance co-founder Changpeng Zhao, is supporting 10X Capital’s launch of a BNB treasury firm targeting a US public listing. The venture, to be headed by David Namdar, aims to provide institutional investors with BNB token exposure.
BNB could soar 360% to $2,775 by 2028: Standard Chartered
According to Geoff Kendrick, head of digital assets research at the bank, BNB has mirrored Bitcoin and Ethereum’s combined performance in terms of returns and volatility since May 2021.
The analyst notes that BNB’s fundamentals remain closely tied to Binance’s continued dominance in the crypto space. He also suggests that BNB could emerge as a benchmark digital asset in the coming years.
