Skip to main content

Posts

BitMart Founder Rumors Fade as Binance bTokens Lead in Asia

BitMart’s founder Sheldon Xia is facing fresh public pressure as the exchange’s official Chinese-language X account demanded he explain the status of user funds and lay out a verifiable repayment plan. The dispute escalates amid claims of halted withdrawals and concerns that employees have not received final pay or compensation. Separately, the tokenized-stock market continues to reshuffle as Binance bStocks overtook xStocks to become the second-largest tokenized stock issuer by value less than two months after launch. Across the industry, banks and regulators are also pushing into crypto rails—ranging from new stablecoin distribution in Hong Kong to mandatory crypto tax reporting in Singapore—while other stories highlight custody moves, tokenization pilots, and ongoing legal fights. Key takeaways BitMart’s account demanded founder Sheldon Xia provide a verifiable asset disclosure and repayment plan, warning it will continue presenting evidence to regulators, law enforcement, lawyers...
Post a Comment
Read more
Recent posts

BitMart Founder Questions Funds, Xia Rejects Claims as Fabricated

BitMart’s official Chinese-language X account has demanded that exchange founder Sheldon Xia explain where user funds are, provide a verifiable disclosure of assets, and outline a repayment plan by Wednesday. The dispute comes as the troubled platform continues its wind-down process amid widely reported withdrawal delays and the earlier collapse in BMX token value. In a Monday post, the account said some users were still unable to withdraw funds and that some employees had not received their final salary or compensation. It urged Xia to publish details including BitMart’s wallets, assets, liabilities, and available reserves, warning it would escalate the matter to regulators, law enforcement, lawyers, and the media if he did not meet the deadline. Cointelegraph previously reported that BitMart announced on July 26 it would wind down the exchange, with trading ending Aug. 26 and operations ceasing on Jan. 31. Key takeaways BitMart’s official Chinese X account is demanding Sheldon Xia ...
Post a Comment
Read more

Binance Shared Russian Client Data in Terror Financing Case: Report

Binance has reportedly shared customer transaction data and personal identifying information with Russian authorities in a case involving an IT specialist accused of financing terrorism through cryptocurrency donations tied to Ukrainian fundraising campaigns, according to documents reviewed by Reuters. Russian investigators say the information helped build the case against Yuri Belenkiy, who was detained in September 2025 and is currently awaiting trial in Russia. Reuters reports that law enforcement used Binance-supplied material as evidence supporting the charges. Key takeaways Reuters reviewed law enforcement documents stating that Binance provided transaction history and personal details for Yuri Belenkiy. Russian authorities allege Belenkiy sent more than $700 in crypto between January 2023 and March 2024 to support the Ukrainian military and a banned group identified as Azov at different times. The data transfer included sensitive identifiers such as date of birth, address,...
Post a Comment
Read more

OCC Greenlights Trump Family Crypto Firm for Trust Charter

The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approval for World Liberty Financial’s application to establish a national trust bank, despite renewed political scrutiny over potential conflicts of interest. In a notice released Friday, the OCC said the approval would be subject to regulatory and policy requirements and would allow the company to operate as “World Liberty Trust Company, National Association.” World Liberty’s charter application, according to the OCC, proposes activities including issuing U.S. dollar-backed stablecoins and providing custody services for digital assets tied to the firm’s USD1 token. Key takeaways The OCC’s approval is conditional, meaning World Liberty must meet specific regulatory and policy requirements before fully moving forward. The bank would be authorized to issue U.S. dollar-backed stablecoins and custody digital assets related to the USD1 token, per the application described by the OCC. Criticism from lawma...
Post a Comment
Read more

Trump-Backed World Liberty Links USD1 To Chinese AI Platform WorldClaw

Trump-linked World Liberty Financial has expanded its stablecoin reach through a partnership with Hong Kong-based AI platform WorldClaw. The arrangement gives WorldClaw users access to Chinese and American AI models while allowing payment through USD1. Meanwhile, the relationship raises questions about technology access and links involving companies facing U.S. restrictions across sensitive technology markets today. WorldClaw offers about 90 models through its WorldRouter service, including 43 developed by Chinese companies. Those models include systems from Alibaba, Baidu, and Z.ai, while American providers include OpenAI and Anthropic across different commercial applications. Additionally, WorldRouter gives users access to models from DeepSeek and Moonshot, expanding its range of available AI systems. WorldClaw accepts World Liberty Financial’s USD1 stablecoin for payments across its services online. However, the companies have not disclosed the financial terms governing their relati...
Post a Comment
Read more

OCC Greenlights Trump Family Crypto Firm Under Trust Charter

The US Office of the Comptroller of the Currency (OCC) has granted World Liberty Financial conditional approval to operate as a national trust bank, a decision that immediately reignited political scrutiny over potential conflicts of interest involving President Donald Trump and members of his family. In a Friday notice, the OCC said its conditional approval for World Liberty’s charter application would permit the company to proceed as “World Liberty Trust Company, National Association,” subject to regulatory and policy requirements. World Liberty’s filing indicates the bank would support US dollar-backed stablecoin issuance and would custody digital assets related to its USD1 token. Key takeaways The OCC’s approval is conditional, allowing World Liberty to move forward as a national trust bank only under specified requirements outlined by regulators. World Liberty’s charter application contemplates issuing US dollar-backed stablecoins and providing custody for digital assets linke...
Post a Comment
Read more

Bitmine Approaches 5% of Ethereum Supply, Despite $8.4B Unrealized Losses

Tom Lee’s Ethereum treasury firm, Bitmine Immersion Technologies, has resumed accumulating Ether, adding 9,926 ETH in the week ending Aug. 16. The latest purchase brings the company’s total holdings to about 5.82 million ETH—around 4.8% of Ethereum’s circulating supply—bringing it close to a long-stated goal of owning 5% of all ETH. While the move underscores Bitmine’s long-term conviction, the context is difficult. Ethereum’s extended bear market has meaningfully reduced the profitability of the treasury, with industry estimates indicating Bitmine is carrying more than $8.4 billion in unrealized losses on its ETH position. Key takeaways Bitmine bought 9,926 ETH during the week ending Aug. 16, lifting total holdings to roughly 5.82 million ETH. That stake is valued at about $11 billion at a referenced ETH price of $1,893, but much of the ETH was reportedly acquired at higher prices. With holdings at ~4.8% of circulating supply, Bitmine is nearing its “Alchemy of 5%” target. Des...
Post a Comment
Read more