Industry News

Tracks company news, strategic changes, funding activities, and personnel adjustments across the blockchain and crypto industries, delivering a full-spectrum industry overview for our users.

Binance Plans Gradual Conversion Of $1 Billion SAFU Fund Into Bitcoin

Amid a prolonged Bitcoin downturn, Binance has announced a significant strategic shift to reinforce confidence in the crypto sector. The exchange plans to convert its entire $1 billion Secure Asset Fund for Users (SAFU), currently held in stablecoins, into Bitcoin. This conversion is expected to be completed within 30 days. Binance stated that this move reflects its long-term conviction in Bitcoin as a foundational asset and store of value. The fund will be actively rebalanced, and if its value falls below $800 million due to market fluctuations, Binance will replenish it back to $1 billion. In a related community letter, Binance also highlighted its 2025 initiatives, including assisting users in recovering $48 million from incorrect deposits, helping 5.4 million users identify potential threats to prevent an estimated $6.69 billion in scam losses, and cooperating with law enforcement to seize $131 million in illegal funds. The exchange's proof-of-reserves showed user assets totaling $162.8 billion, fully backed, by the end of 2025.

bitcoinist01/31 10:02

Binance Plans Gradual Conversion Of $1 Billion SAFU Fund Into Bitcoin

bitcoinist01/31 10:02

OnlyFans in Talks to Sell 60% Stake in Deal Valued at Up to $5.5 Billion

According to The Wall Street Journal, OnlyFans is in discussions to sell a 60% stake to U.S. private equity firm Architect Capital. The potential deal could value the subscription platform between $3.5 billion and $5.5 billion, including debt. Majority owner Leo Radvinsky, who acquired the company in 2018, has previously explored a full sale. Architect Capital, known for investing in businesses with regulatory challenges, aims to improve payment systems for creators and plans to take OnlyFans public by 2028. The report also notes that OnlyFans' parent company, Fenix International, previously invested significantly in Ethereum, sustaining substantial losses during the 2022 crypto market downturn.

TheNewsCrypto01/31 09:36

OnlyFans in Talks to Sell 60% Stake in Deal Valued at Up to $5.5 Billion

TheNewsCrypto01/31 09:36

SoFi Q4 Revenue Jumps as Crypto, Blockchain Drive Growth

SoFi achieved record quarterly revenue in Q4, driven significantly by the growing adoption of its crypto trading and blockchain services. The integrated fintech platform is successfully leveraging digital assets as a key growth driver, not just a sideline. Crypto features attract new users, while blockchain technology improves transaction efficiency and settlement speed. This strategy enhances customer engagement and retention. SoFi’s approach of cross-selling traditional financial products like loans and wealth management through a single app differentiates it from pure-play crypto exchanges, reducing acquisition costs and increasing customer lifetime value. The company is also developing blockchain infrastructure to streamline payments and improve user experience, positioning itself for long-term growth as crypto adoption stabilizes. This performance reflects a broader industry trend where traditional fintech firms integrate crypto services within regulated environments to meet rising user demand.

TheNewsCrypto01/31 06:40

SoFi Q4 Revenue Jumps as Crypto, Blockchain Drive Growth

TheNewsCrypto01/31 06:40

USD1 Hits $5 Billion Market Cap As Trump Hails ‘Built In America’ Stablecoin

USD1, a stablecoin issued by World Liberty Financial, has surpassed a $5 billion market cap, becoming one of the largest dollar-pegged tokens. It maintained its $1 peg despite increased market interest, aided by new exchange listings and incentives. The milestone was celebrated by the Trump family on social media, boosting mainstream attention. Growth was driven by improved liquidity, institutional adoption, and large fund movements. However, questions remain about reserve transparency and regulatory compliance, with the issuer seeking a U.S. banking charter. Notably, while USD1 thrived, other related speculative tokens fell sharply, highlighting a market shift toward stability over volatility.

bitcoinist01/31 06:02

USD1 Hits $5 Billion Market Cap As Trump Hails ‘Built In America’ Stablecoin

bitcoinist01/31 06:02

Where Did XRP Come From? Former Ripple Exec Drops Bombshell Story

Former Ripple executive David Schwartz recently participated in a public Q&A on X, revealing key historical insights about XRP and Ripple company origins. He attributed the term "drop" for XRP's smallest unit to Arthur Britto, a primary architect of the XRP Ledger, whom he praised for possessing rare and exceptional intelligence. Schwartz clarified that Ripple’s name and its association with the Grateful Dead song were coincidental, stemming from the acquisition of the ripple.com domain from a fan. He highlighted Britto’s foundational contributions, including the built-in decentralized exchange and pathfinding for multi-source payments on the XRP Ledger. When pressed about XRP’s price potential, Schwartz declined to dismiss the possibility of high values like $50 or $100, recalling his past underestimation of crypto price surges.

bitcoinist01/31 05:33

Where Did XRP Come From? Former Ripple Exec Drops Bombshell Story

bitcoinist01/31 05:33

XRPL prepares for ‘institutional DeFi’ – Will it boost XRP price?

Key stakeholders in the XRPL ecosystem are pushing for institutional DeFi adoption, with the upcoming 'XRP Lending Protocol' (XLS-66) seen as a critical upgrade. Evernorth, a major XRP treasury firm, announced it will make this protocol its core strategy, believing it could unlock a multi-billion-dollar annual yield opportunity and fundamentally shift institutional on-chain liquidity. Currently, the XRPL DeFi ecosystem lags behind rivals like BNB Chain and Solana, with its TVL dropping to $100 million, compared to their billions. However, Ripple’s stablecoin RLUSD has grown rapidly, surpassing $1 billion in supply. Market signals are mixed: 42 wallets holding over 1 million XRP have resumed accumulation for the first time since September, indicating long-term confidence. Yet, large holders remain net sellers overall, though selling pressure has slightly eased. XRP price consolidated around $1.7, awaiting broader market direction.

ambcrypto01/31 05:32

XRPL prepares for ‘institutional DeFi’ – Will it boost XRP price?

ambcrypto01/31 05:32

Bybit Regains Ground In 2025 After Historic Hack, CoinGecko Finds

Bybit made a significant recovery in 2025, handling $1.5 trillion in trades and capturing 8% market share despite a historic $1.5 billion hack in February. The exchange's decision to keep withdrawals open and cover user losses helped rebuild trust and maintain liquidity. CEO Ben Zhou's public reassurances and transparent communication were key to its comeback. Overall, trading volumes rose across major exchanges, with MEXC seeing 90% growth due to zero-fee promotions. Binance remained the largest exchange with $7.3 trillion in volume, despite a slight 0.5% decline.

bitcoinist01/30 20:03

Bybit Regains Ground In 2025 After Historic Hack, CoinGecko Finds

bitcoinist01/30 20:03

BlackRock XRP ETF Next? Canary CEO Eyes Late 2026

Canary Capital CEO Steven McClurg anticipates that BlackRock may file for a spot XRP ETF by late 2026 or 2027, driven by client demand rather than a sudden strategic shift. He notes that other major firms like Fidelity, Franklin Templeton, and Invesco are already exploring non-Bitcoin crypto ETFs, signaling a growing institutional trend. McClurg emphasizes that ETF issuers prioritize market demand, liquidity, and regulatory clarity before launching products. He also observes that institutions are increasingly interested in efficient, low-cost networks like XRP Ledger, Hedera, and Solana, while some are bypassing Ethereum due to perceptions of outdated technology. Additionally, he highlights Ripple’s potential in banking partnerships and stablecoin (RLUSD) growth, tying broader adoption to clearer regulations. At the time of reporting, XRP was trading at $1.75.

bitcoinist01/30 18:32

BlackRock XRP ETF Next? Canary CEO Eyes Late 2026

bitcoinist01/30 18:32

Binance Eyes South Korea Lead via Gopax, GoFi Push

Binance is strengthening its presence in South Korea through a strategic focus on local exchange Gopax and the GoFi ecosystem, aiming to gain a stronger foothold in one of Asia’s most active yet tightly regulated crypto markets. Rather than pursuing aggressive expansion, Binance is aligning with local infrastructure to navigate strict regulatory requirements, including real-name banking and anti-money laundering rules. Gopax serves as a key gateway, providing access to local users and markets, while GoFi signals Binance’s ambition to offer broader financial services like lending and staking. This partnership-driven approach allows Binance to combine global scale with local compliance, positioning it for sustainable growth in South Korea's competitive crypto landscape.

TheNewsCrypto01/30 12:00

Binance Eyes South Korea Lead via Gopax, GoFi Push

TheNewsCrypto01/30 12:00

Bit Digital Exits on Bitcoin Mining to Focus on Ethereum Staking and AI Infrastructure

Bit Digital, a Nasdaq-listed crypto company, is exiting Bitcoin mining due to insufficient income, high costs, and hardware limitations. It will now focus on Ethereum staking and AI infrastructure. The company holds over 155,000 ETH, with nearly 90% staked to secure the network. Additionally, through its majority-owned subsidiary WhiteFiber, Bit Digital is expanding into AI and high-performance computing, which already contributes nearly 60% of its total revenue. This strategic shift highlights a broader industry trend toward Ethereum staking and AI for better scalability and steady income.

TheNewsCrypto01/30 10:54

Bit Digital Exits on Bitcoin Mining to Focus on Ethereum Staking and AI Infrastructure