Shocking Crypto News: $81M Hack, Massive Bitcoin Buys, US Stablecoin Bill Passed
Welcome to your daily dose of Crypto News! The digital asset world is constantly buzzing, and today brought a mix of significant events that could impact the market, from a major security breach to landmark legislative steps and substantial corporate investments. Let’s dive into the headlines you need to know.
Major Crypto Hack Hits Iranian Exchange Nobitex
Security remains a critical concern in the cryptocurrency space. Today, reports surfaced of a substantial hack targeting the Iran-based exchange, Nobitex. Onchain investigator ZachXBT revealed that over $81 million in digital assets were drained across the Tron and Ethereum Virtual Machine (EVM) networks. The attackers reportedly used unique ‘vanity addresses’ for the exploit.
- Affected Exchange: Nobitex (Iran-based)
- Estimated Loss: Over $81 million
- Networks Affected: Tron, EVM-compatible chains
- Method: Exploiting access controls, draining hot wallets
- Claimed Responsibility: ‘Gonjeshke Darande’, an Israel-linked group
Nobitex confirmed ‘unauthorized access’ to a portion of its hot wallets, stating that cold storage assets are secure and promising to compensate users from an insurance fund and company resources. While the scale of the hack is significant, blockchain security firm Cyvers noted that the stolen funds remain unmoved, which is unusual. This incident adds to the growing total of stolen digital assets in 2025, which CertiK estimates to be over $2.1 billion so far.
Public Companies Making Waves with Bitcoin Investments
Corporate adoption of cryptocurrencies continues to be a key narrative, especially concerning Bitcoin. This week, several publicly traded US firms announced plans to allocate significant capital towards acquiring digital assets, primarily Bitcoin.
- DDC Enterprise Ltd: Plans to spend $528 million to expand Bitcoin holdings.
- Fold Holdings Inc: Secured a $250 million equity facility, with proceeds aimed at additional Bitcoin purchases.
- BitMine Immersion Technologies: Completed a $16.3 million Bitcoin purchase from stock offering proceeds.
- Eyenovia (soon to be Hyperion DeFi): Will allocate $50 million to purchase HYPE token and rebrand.
These moves demonstrate a growing confidence among public companies in holding digital assets as part of their treasury strategy or incorporating them into their business models, contributing to the overall adoption narrative for Bitcoin and other tokens like HYPE.
US Stablecoin Bill Advances in US Senate
Regulatory progress is often slow but crucial for the crypto industry. Today marked a significant step in the United States with the passage of the GENIUS Act in the US Senate. This bill, aimed at providing regulatory clarity for stablecoins, passed with a 68-30 vote.
Introduced by Senator Bill Hagerty, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act is intended to position the US as a leader in crypto innovation. Proponents argue it will enable faster payments, settling transactions in near real-time rather than days or weeks. The bill now potentially moves to the House of Representatives, where it may face further debate and amendments.
The path forward isn’t entirely clear, as the bill previously faced opposition. Its success in the House remains to be seen, particularly given the political landscape and past discussions around stablecoin regulation, including connections to political figures.
What Does This Mean for the Market?
Today’s events highlight the dynamic nature of the crypto market. While the Nobitex hack serves as a stark reminder of ongoing security risks and the importance of robust protection measures, the significant corporate investments signal continued institutional interest and potential demand for Bitcoin. Meanwhile, the progress of the Stablecoin bill in the US Senate suggests potential steps towards regulatory clarity, which could foster further innovation and adoption, albeit with the usual legislative hurdles still ahead.
Summary
In conclusion, today’s Crypto News brought a mix of challenges and progress. A major hack underscored security vulnerabilities, while substantial investments from public companies reinforced the bullish case for digital assets. Simultaneously, legislative movement in the US Senate on stablecoins points towards potential future regulatory frameworks. Staying informed on these diverse developments is key for anyone navigating the cryptocurrency landscape.
