Bitcoin Smashes $116K, Wipes Out $425M in Short Positions
Bitcoin surged to a new all-time high of $116,734, fueled by strong ETF inflows and institutional interest, liquidating over $425 million in short positions within an hour. Total crypto market liquidations reached $912 million over the past 24 hours, driven largely by Bitcoin's record-breaking rally. Analysts attribute the surge to growing investor confidence amid anticipated Fed rate cuts and a broader risk-on market environment. Other major cryptos like Ethereum, Dogecoin, and XRP also posted strong gains during the rally. (Decrypt)
MOODENG Memecoin Soars 17% as Pygmy Hippo Celebrates First Birthday
The MOODENG memecoin surged over 17% as fans worldwide marked the first birthday of Moo Deng, the viral pygmy hippo that inspired the token. Originally minted on Solana in September 2024, MOODENG remains 66% below its all-time high but benefited from renewed interest amid a broader crypto rally driven by Bitcoin’s record highs. Moo Deng's celebration at Thailand's Khao Kheow Open Zoo drew crowds and crypto attention, with the token now ranking among the day’s top-performing assets. Notably, Ethereum co-founder Vitalik Buterin previously supported the hippo’s care, further boosting the memecoin’s cultural cachet. (The Block)
Australia Pushes Forward with CBDC and Tokenized Asset Trials via Project Acacia
The Reserve Bank of Australia is advancing to the next phase of its central bank digital currency (CBDC) initiative, Project Acacia, with 24 pilot use cases involving banks and fintechs. The project will test settlements using stablecoins, deposit tokens, and a wholesale CBDC, while the Australian Securities and Investments Commission offers regulatory relief to enable experimentation. Major institutions like Commonwealth Bank, ANZ, and Westpac are participating as the country explores digital asset infrastructure. This move aligns with Australia’s broader goal of building a modern digital asset framework to enhance wholesale financial markets. (The Block)
Tether Backs Crystal Intelligence to Fight Crypto Crime Surge
Tether has made a strategic investment in blockchain analytics firm Crystal Intelligence to bolster global efforts in tackling illicit crypto activity, especially amid a $9.3 billion rise in scam losses in 2024. The partnership enhances law enforcement capabilities with real-time monitoring and tools like Scam Alert, a platform that flags suspicious wallet activity. Both companies emphasized the need for proactive industry measures to strengthen trust and regulatory compliance as the crypto sector matures. This move signals Tether’s strategic pivot toward reinforcing public trust and regulatory alignment. (Blockhead)
Ant Group Eyes USDC Integration for AntChain Blockchain
Jack Ma-backed Ant Group is reportedly partnering with Circle to integrate the USDC stablecoin into its AntChain blockchain once USDC secures full regulatory compliance in the U.S. This move aligns with Ant’s ongoing push to expand its blockchain-based financial services, including cross-border settlements and tokenization. Ant has also shown interest in stablecoins within Asia, seeking issuer licenses in Singapore and Hong Kong, while Circle continues expanding globally amid progress on U.S. stablecoin regulation via the GENIUS Act. The collaboration could signal broader adoption of regulated stablecoins across Asia’s fintech landscape. (Cointelegraph)
Snoop Dogg NFT Drop Sells Out in 30 Minutes via Telegram
Snoop Dogg’s latest NFT collection, inspired by his song “Gifts,” sold out nearly 1 million units within 30 minutes on Telegram, generating millions and showcasing the app’s in-app blockchain utility. The NFTs were sold using Telegram’s “Send a Gift” feature, ahead of its upcoming full blockchain minting and marketplace rollout. Analysts see the drop as a win for utility-based NFTs, tapping into Telegram’s “degen” user base with real functionality like profile customization. The success also highlights Telegram’s growing crypto ecosystem, with its TON-based Open Platform recently hitting a $1B valuation. (Decrypt)
