Welcome back to Crypto Coinz Hub! Here’s a rundown of the latest news shaking up the crypto world today:
🔍 SEC vs. CLS Global
The SEC has scored a major win in its case against CLS Global, which was found responsible for 98% wash trading activity. This led to a $425,000 fine and a ban from U.S. crypto markets. The case, dubbed Operation “Trap Token” by the FBI, targeted manipulative trading practices that inflate volume artificially on decentralized platforms like Uniswap. This ruling proves that U.S. regulators can go after foreign firms engaged in market manipulation—even in DeFi.
⚠️ Safe Cuts Staff Following Bybit Fallout
Safe, a leading self-custody infrastructure project, has laid off 14 employees following the $1.4B Bybit hack. The CEO took to X with what was described as an emotional post, calling it “the toughest day” since founding the company. Whether that sentiment was genuine or not is up for debate.
💥 Bitcoin Hashrate Hits All-Time High
Bitcoin’s hashrate just hit a new all-time high. But is this a sign that miners are now dumping their BTC just to stay afloat? In the past, miners used to HODL—but with current market pressures, many are selling as soon as they mine.
⚔️ Raydium vs. Pump.fun – Solana Token War
Former collaborators Raydium and Pump.fun are now rivals, locked in a heated race for launchpad dominance on Solana. The token war is on.
📈 Market Highlights:
- The crypto markets were green across the board.
- Bitget has burned $130M worth of BGB (about 2.5% of its total supply).
- Maple Finance has officially passed $1B in AUM.
- DWF Labs, who we mentioned yesterday, has just announced a U.S. expansion.
💰 At the time of writing, Bitcoin was trading at $85,033.
⚠️ Reminder: This is not investment advice—just today’s crypto headlines. Always do your own research.
Thanks for reading,
Crypto King
