New Delaware Stablecoin Bill Wants to Make the State a Leader

Wintermute, a prominent market maker, halted trading during the flash crash last week due to broken internal rules, causing a temporary pause in market stabilization efforts. Other market makers, like LO:TECH, also experienced disruptions, impacting liquidity and price stability across exchanges.

The Mt. Gox hack in June 2011 saw a hacker steal and sell hundreds of thousands of BTC for just a penny, causing Bitcoin's price to plummet by 99.9%. This incident erased nearly the entire market's value as Mt. Gox facilitated 90% of Bitcoin trading at the time.

Bitcoin's price dropped to $106,953, 11% lower than last week, causing concern among short-term holders. The $103,000 level is crucial to monitor, as it has been a key support during the 2025 bull run.

Gespa, the Swiss gambling authority, has filed a criminal complaint against FIFA Collect for offering unlicensed gambling services in Switzerland. The platform's "right-to-buy" NFTs are considered illegal under Swiss gambling regulations, prompting Gespa to report the platform to the authorities.

Arthur Hayes, co-founder of BitMEX, is preparing to launch Maelstrom Equity Fund I, aiming to raise $250 million for acquiring medium-sized crypto companies. The fund will focus on trading infrastructure and data analytics firms, with investments ranging from $40 million to $75 million.

Japan's three largest banking groups are planning to launch a stablecoin together, pegged to real-world currencies like the Japanese yen. The tokens aim to digitize interbank settlements and follow common technical and legal standards for interoperability between banks. This move aligns with the global trend of stablecoin adoption and regulatory developments.

JPMorgan attributes the recent crypto market correction to self-inflicted sell pressure from crypto-native investors, not institutions. Despite over $19 billion in liquidations last week, institutional flow remains calm, with ETFs seeing steady inflows through the turbulence. Ancient whales and believers in the 4-year cycle are identified as the main sellers.

Uniswap has integrated Solana into its web app, simplifying cross-chain DeFi and providing access to 15 chains in one place. This move aims to unify the two largest DeFi ecosystems and enhance user experience by removing complexity in trading Solana tokens alongside Ethereum assets.

ARK 21Shares Bitcoin ETF (ARKB) experienced a significant outflow of $275.2 million on Thursday, the largest since August 1. This contributed to a rough day for Bitcoin ETFs, with total outflows of $530.9 million.

Bitcoin's sell-off led to a 5.9% drop in the total crypto market capitalization, sending it to $3.64 trillion, its lowest level since July. Altcoins like Ethereum, XRP, Solana, and BNB suffered losses ranging from 4% to 12.3%. The panic in traditional finance sparked a flight to safety, affecting all markets, analysts told Decrypt.