Circle Rises While Crypto Slumps
The Crypto Brief!
Hello readers! This week? Total chaos. Bitcoin sank fast this week as the U.S. bombed Iran’s nuclear sites, pushing global tensions to the edge. Fears of war shook markets, and crypto crashed—Bitcoin fell below $100K.
Meanwhile, Circle’s stock jumped past $298, hitting a new record—even as U.S.-Iran tensions rattled markets. Just seven days after its NYSE debut, Circle’s market value topped $61.3 billion, beating its own stablecoin USDC.
Here are some other big headlines shaking up the space this week:
Crypto exchange OKX Eyes Wall Street Debut: Report
OKX is thinking about going public in the U.S. just months after setting up its U.S. office and paying $500 million to settle legal issues with the Department of Justice. This move comes as more crypto companies are eyeing stock market listings—especially after Circle’s big debut on the New York Stock Exchange, where it raised around $1.1 billion and saw its stock price jump nearly four times.
Cointelegraph Website Breached in Scam Airdrop Pop-Up Attack
Cointelegraph, a popular crypto news site, said its website was hacked through a front-end bug that showed fake pop-ups about a token giveaway. These pop-ups tricked users into thinking they were chosen for a special airdrop as part of a “fair launch” to reward loyal readers.
In reality, it was a scam. If users clicked the pop-up and connected their wallets, hackers could steal their funds. Cointelegraph warned people not to click, connect wallets, or share any personal info, and said they’re working to fix the issue.
Texas Becomes Latest State to Add Bitcoin to Its Treasury
Texas has officially started a special fund to hold Bitcoin, called the Strategic Bitcoin Reserve. It’s now one of three U.S. states to do this.
The goal is to help protect the state’s finances from inflation and economic ups and downs. The reserve can grow in different ways—not just by buying Bitcoin, but also through things like forks, airdrops, or even donations.
Solana Teams Up with Kazakhstan to Launch Central Asia’s First Web3 Hub
Kazakhstan has started a new project called the Solana Economic Zone (SEZ KZ), the first Web3-focused zone in Central Asia.
It’s built on the Solana blockchain and supported by the Solana Foundation. The goal is to boost Kazakhstan’s digital economy by helping new blockchain projects grow. This zone will act like a testing ground where startups can try out Web3 ideas and expand their tech businesses globally.
Thats all for today. See you next time!
