Bitcoin approached $72,000 in a second day of upside as crypto short liquidations passed $3.1 billion. Bitcoin (BTC) and altcoins are breaking records as short position liquidations pass $3 billion over two days. Key points: Read more
Gnosis Chain was approved to transition to an EEZ rollup, enabling it to settle directly to Ethereum rather than continue with an independent validator set. GnosisDAO approved Gnosis Chain’s transition from a standalone layer-1 network to a ZK-proven Ethereum Economic Zone (EEZ) rollup. GIP-153 received 123,158 GNO in support, 115 against and 151 abstaining across 54 voters, Gnosis Chain said in an X post. Turnout reached 123,425 GNO, exceeding the 75,000 quorum. Under the proposal, Gnosis Chain’s validator set would be retired and the network would settle transactions on Ethereum, making Gnosis Chain a layer-2 (L2) that relies on Ethereum’s validators for settlement. Read more
Regulators reportedly accepted BitGo Korea’s registration on Tuesday, two days before stricter VASP entry requirements took effect. BitGo Korea has secured a virtual asset service provider (VASP) registration in South Korea, providing a regulatory foundation to offer digital asset custody services to institutions. On Thursday, BitGo announced that the Korea Financial Intelligence Unit accepted its local entity’s VASP registration, allowing it to provide virtual asset custody and transfer services to institutional and enterprise clients. The company said it established the local entity instead of acquiring an existing registered provider and said it had built security, anti-money laundering, internal control and operational frameworks tailored to South Korean requirements. Read more
HYPE reached $72 after Trump said the CFTC was pursuing compliant US access for Hyperliquid, though no formal regulatory plan has been released. Hyperliquid’s native token surged more than 20% over 24 hours after United States President Donald Trump said regulators were working on a compliant pathway to make the decentralized trading platform available to American users. HYPE traded around $62 immediately before Trump’s remarks and subsequently jumped as much as 16% to a 24-hour high of $72.28, according to CoinGecko. It later settled to about $70, up approximately 20% in the last day, with 24-hour trading volume reaching $1.4 billion. “I understand that Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion,” Trump said during a Wednesday White House event, referring to Commodity Futures Trading Commission (CFTC) Chair Michael Selig. “Working very hard on that.” Read more