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Institutional $1.74B Bitcoin Options Bet Targets $100K-$112K by Year-End
Institutional $1.74B Bitcoin Options Bet Targets $100K-$112K by Year-End

A major trader placed a $1.74B Bitcoin options position targeting $100K-$112K by Dec. 26, dominating the expiry with 20,000 BTC in strikes.

Coinspeaker·2025/11/24 16:00
CFTC Acting Chair Pham seeks CEOs for innovation council amid expanding crypto oversight
CFTC Acting Chair Pham seeks CEOs for innovation council amid expanding crypto oversight

Quick Take The CFTC is poised to have a larger role in regulating crypto as bills in both the House and Senate would give the agency broader authority over digital assets. “In order to hit the ground running, it is critical that the CFTC drives public engagement with the support of expert industry leaders and visionaries who are building the future,” Pham said on Tuesday.

The Block·2025/11/24 16:00
The Daily: Polymarket allowed to resume US operations, Grayscale and Franklin XRP ETFs each clock over $60M in debut inflows, and more
The Daily: Polymarket allowed to resume US operations, Grayscale and Franklin XRP ETFs each clock over $60M in debut inflows, and more

Quick Take The CFTC has officially approved Polymarket’s return to the U.S. by issuing an Amended Order of Designation that lets the onchain predictions platform operate as a fully regulated intermediated exchange. Grayscale and Franklin Templeton’s new spot XRP ETFs led the market on debut, pulling in $67.4 million and $62.6 million in respective net inflows on Monday.

The Block·2025/11/24 16:00
MegaETH’s USDm stablecoin pre-deposit launch hits 'turbulence' amid outages and cap flip-flops
MegaETH’s USDm stablecoin pre-deposit launch hits 'turbulence' amid outages and cap flip-flops

Quick Take A misconfigured multisig allowed a community member to execute the cap-increase transaction early, reopening deposits before the team intended. MegaETH now plans to offer withdrawals to users unsettled by the rollout, stating that all contracts remain secure despite the operational missteps.

The Block·2025/11/24 16:00
Stablecoin issuer Paxos acquires Fordefi, bolstering its crypto custody and wallet offering
Stablecoin issuer Paxos acquires Fordefi, bolstering its crypto custody and wallet offering

Quick Take Fortune reported Paxos’ second acquisition of the year was for more than $100 million. Fordefi offers an institutional-grade multi-party computation (MPC) wallet solution that reportedly safeguards over $120 billion in monthly transaction volume.

The Block·2025/11/24 16:00
Flash
16:35
Kaito: Ceases operation of Yaps and launches Kaito Studio, KAITO token will continue to play a role in Kaito Studio
According to Odaily, Kaito announced on X that it is discontinuing the operation of Yaps and the incentive leaderboard to usher in a new era for Kaito Studio. Kaito Studio will transition into a traditional tiered marketing platform, where brands can selectively collaborate with creators based on established criteria. The platform will cover multiple social channels including X, YouTube, and TikTok, and its business scope will expand from cryptocurrency to finance, AI, and other fields. Kaito stated that this change will not affect Kaito Pro, Kaito API, Kaito Launchpad, or Kaito Markets. The KAITO token will continue to play a role within Kaito Studio.
16:32
KAITO will gradually discontinue YAPS and the Incentivized Leaderboard, and launch KAITO Studio
BlockBeats News, January 16th, Kaito founder Yu Hu posted on X platform, stating that KAITO will gradually discontinue YAPS and incentive-based rankings, and launch KAITO Studio. Kaito Studio will be closer to a traditional tiered marketing platform, where brands will selectively collaborate with creators based on established criteria and a clear project scope.
16:30
WSJ: Banks Protest High-Yield Tokens as Crypto Regulation Dispute Continues to Escalate in Washington
BlockBeats News, January 16, according to The Wall Street Journal, the crypto industry and the banking sector are engaged in an intense lobbying battle over digital tokens that can offer annualized yields. This struggle could undermine legislative efforts originally aimed at integrating cryptocurrencies into the mainstream financial system. The core of the debate centers on what crypto companies call “rewards”—annualized returns distributed periodically based on the proportion of assets held by investors. This mechanism is particularly common among stablecoins. From the banks’ perspective, when certain exchanges offer about 3.5% yield on stablecoins, it is essentially similar to high-yield deposits, but without having to comply with the strict regulatory requirements that banks face when taking public deposits. Banking organizations have therefore sent numerous letters to lawmakers, warning that such “yield-bearing stablecoins” could deal a devastating blow to small and medium-sized banks in the United States. By comparison, the current national average interest rate for regular interest-bearing checking accounts in the U.S. remains below 0.1%. This debate is one of the reasons why the Senate Banking Committee postponed its scheduled Thursday vote on the crypto market structure bill. JPMorgan, Citigroup, and other large banks are resisting stablecoin rewards on one hand, while on the other, they are also developing their own crypto products and partnership plans. Some banks, including Bank of America, are considering whether to issue their own stablecoins. Analysts say that the withdrawal of support for the bill by a certain exchange could put the bill’s prospects at serious risk, even though other crypto companies still express support. This dispute highlights a tension: on one side is the rapidly growing new force of the crypto industry in Washington, actively leveraging its increasing lobbying influence; on the other side is the traditional banking sector, which has maintained close ties with Congress for decades. The U.S. Treasury estimated last year that stablecoins could siphon off up to $6.6 trillions in deposits from the U.S. banking system, partly due to the “yield” mechanism offered by stablecoins. By comparison, according to the latest Federal Reserve data, as of early January, the total deposits in U.S. commercial banks were about $18.7 trillions. The U.S. government provides insurance for deposits up to $250,000 per account, but at the same time, imposes strict regulations on banks’ operations and financial soundness.
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