Bitcoin breaks $60K

A WSJ investigation says Iranian-linked wallets have moved more than $3.84 billion through CoinEx since 2019, turning the Seychelles-based crypto exchange into a key bridge around U.S. sanctions. The trail reportedly includes funds tied to the Bybit hack and accounts later attributed by officials to Iran’s Revolutionary Guard. Haipo Yang, a former Tencent engineer who runs one of the world’s largest bitcoin mining pools, launched CoinEx from Hong Kong in 2017. Read more →

Bitcoin is currently trading below $60,000, hitting its lowest level since October 2024 and adding another ugly headline to an already weak crypto market. The move comes as spot bitcoin ETFs continue to see outflows, institutional demand cools, and traders brace for ~$10 billion in bitcoin options expiring on Deribit this Friday. Because many of those options were bullish bets made before the latest slide, the expiry could add another layer of pressure if traders shift more defensively. Bitcoin crossing $60,000 is psychologically important – but it is happening in a murky market for almost everything. Read more →

Kalshi is reportedly in talks to raise fresh capital at a $40 billion valuation, per the Financial Times. That would be a sharp jump from the $22 billion valuation reported only last month. It also comes on the heels of reporting from only last week that the company was in early talks for an IPO. Read more →

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