Crypto Weekly Roundup: Tornado Cash Sanctions Removed, BitHumb Raided, & More
This week in crypto, the U.S. Treasury lifted sanctions on Tornado Cash, while Pakistan moved to legalize crypto for foreign investment. Bitcoin saw renewed ETF inflows and a minor purchase by MicroStrategy, while developments like PumpSwap’s DEX launch and Cosmos EVM open-sourcing marked key tech strides. Meanwhile, Bithumb was raided over alleged fund misuse, and new ETF filings for Solana, Avalanche, and SUI signaled growing institutional interest in altcoins.
Bitcoin
Michael Saylor’s Strategy has acquired 130 additional Bitcoin worth $10.7 million—its smallest BTC purchase to date—funded through preferred stock sale amid its broader $42 billion capital raise plan.
After the worst period of persistent net outflows for the U.S. Spot Bitcoin ETFs since they were launched in January 2024, a 4-day run of net inflows has potentially started to reverse this trend.
DeFi
Solana-based memecoin platform Pump.fun has launched its own decentralized exchange, PumpSwap, aiming to streamline token trading and reduce user friction while intensifying competition with Raydium.
Technology
The Interchain Foundation has funded the open-sourcing of evmOS—now branded Cosmos EVM—as the standard Ethereum Virtual Machine framework for the Cosmos ecosystem.
Business
South Korean prosecutors have raided Bithumb’s offices over allegations that former CEO Kim Dae-sik misused company funds for personal real estate, adding further complications to the exchange’s IPO ambitions.
Volatility Shares has launched the first Solana futures-based ETFs in the U.S., offering traditional investors exposure to the sixth-largest cryptocurrency amid growing institutional interest.
Former and current Trump Media & Technology Group executives are launching a special-purpose acquisition company (SPAC) to raise $179 million to purchase a US-based cryptocurrency or blockchain firm.
Investment manager VanEck registered a trust company for an Avalanche (AVAX) exchange-traded fund (ETF) in Delaware.
Canary Capital has submitted an S-1 filing with the SEC to launch the first spot ETF tracking the SUI token, marking a key development in the push for altcoin-backed investment products.
Security
Microsoft has uncovered a stealthy remote access trojan, StilachiRAT, engineered to steal cryptocurrency credentials and sensitive system data using advanced evasion and persistence techniques.
Regulation
The United States Treasury Department has lifted the sanctions imposed on Tornado Cash and removed it from its global blacklist after sanctioning the crypto mixing tool for money laundering in 2022.
Pakistan is preparing to introduce a legal framework for cryptocurrency use in foreign investment, reversing its earlier anti-crypto stance and positioning itself as a rising digital asset hub in South Asia.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
