1. Celsius to Make Second Payout to Creditors Soon as Mashinsky Awaits Day in Court Celsius Network, the bankrupt cryptocurrency lender, is preparing to distribute a second payout of $127 million to its creditors. This represents about 60% of total creditor claims and follows an earlier distribution of $2 billion in crypto to over 171,000 creditors. The funds will be paid in either cash or crypto, with Bitcoin values fixed at the time of Celsius’ bankruptcy petition. While creditors wait for restitution, Alex Mashinsky, Celsius’ former CEO, faces legal charges, including fraud, for his role in the platform’s collapse. He has pleaded not guilty, and the court proceedings are ongoing. Impact: This payout provides some relief to creditors, but the broader fallout from Celsius’ collapse continues to cast a shadow over crypto lending. Mashinsky’s legal troubles highlight the need for stricter accountability in the crypto space. The case has amplified calls for better transparency and risk management in centralized lending platforms. 2. Crypto Exchange XT.com Halts Withdrawals Amid $1.7 Million Hack Allegations XT.com paused all withdrawals after a suspected $1.7 million hack targeted its hot wallet infrastructure. Blockchain security firm PeckShield detected unusual fund movements and traced the stolen assets, which were converted to 461.58 ETH, to a wallet. Although XT.com initially attributed the withdrawal halt to “wallet upgrades,” it later acknowledged the breach. The platform assured users of its financial stability, citing a 1.5x reserve to cover all user funds. Impact: This hack underscores the ongoing vulnerability of centralized exchanges to cyberattacks. XT.com’s transparency and reserve policy may provide some reassurance to users, but such incidents erode overall trust in exchanges. It may push investors toward decentralized platforms or exchanges with stronger security frameworks. 3. Bitcoin Miners Approach $40B Market Cap as Difficulty Set for Fifth Straight Increase Bitcoin mining companies are experiencing a surge in market capitalization, nearing $40 billion collectively. This coincides with the fifth consecutive increase in Bitcoin’s mining difficulty, a sign of heightened network security and increased competition among miners. While the growth reflects strong investor confidence, rising operational costs due to higher difficulty levels are squeezing profit margins, particularly for smaller miners. Impact: Increased mining difficulty enhances Bitcoin’s network security and decentralization but may drive consolidation within the industry. Larger, more efficient miners are better positioned to weather these challenges, potentially monopolizing mining activity and altering the competitive landscape.   4. MetaPlanet Stock Jumps 6.5% After Raising $62 Million for Bitcoin Acquisition MetaPlanet, a Japanese investment firm, raised $62 million through stock acquisition rights to expand its Bitcoin reserves. The move mirrors strategies by companies like MicroStrategy, with MetaPlanet citing Bitcoin as a hedge against inflation and a store of value. Following the announcement, the company’s stock surged by 6.5%, reflecting investor confidence in its crypto-focused approach. Impact: This highlights a growing trend of corporate adoption of Bitcoin as a strategic asset. MetaPlanet’s success may encourage other firms to integrate crypto into their financial strategies, boosting demand and driving Bitcoin’s price. The move also reinforces Bitcoin’s role as a reliable inflation hedge. 5. Tether to Shutter Euro Stablecoin as Key MiCA Deadline Looms Tether announced plans to discontinue its euro-pegged stablecoin, EURT, due to limited demand and regulatory hurdles imposed by the EU’s Markets in Crypto-Assets (MiCA) framework. With a market cap of $27 million, EURT struggled to compete with Circle’s EURC. Tether will shift its focus to new MiCA-compliant products like EURQ and USDQ, to be launched via its Hadron platform. Impact: This decision illustrates how evolving regulatory landscapes impact stablecoin issuers. Tether’s proactive approach to adapting its offerings ensures compliance while opening the door to innovative products. However, the closure of EURT may leave gaps in euro-denominated crypto transactions. 6. Bitcoin Bull Market Is Far From Over, Galaxy Research Says Galaxy Research’s report predicts that Bitcoin will surpass $100,000 soon, citing institutional adoption, upcoming Bitcoin ETF launches, and potential national reserves as key drivers. The report notes the resilience of Bitcoin despite regulatory pressures and macroeconomic challenges, suggesting that its bull market is far from over. It also highlights the role of ETFs in boosting liquidity and reducing market volatility. Impact: This bullish sentiment could bolster investor confidence and drive fresh capital into the market. The prediction reinforces Bitcoin’s position as a long-term investment, potentially attracting more institutional and retail buyers. 7. Bitwise Files to Turn $1.4 Billion Crypto Index Fund into an ETF Bitwise has submitted a filing with the SEC to convert its $1.4 billion crypto index fund into an ETF. The ETF aims to provide exposure to a diversified portfolio of cryptocurrencies, led by Bitcoin and Ethereum. If approved, this product would enable traditional investors to access crypto through conventional financial instruments, potentially paving the way for broader adoption. Impact: An ETF approval could transform the crypto investment landscape, attracting institutional investors and enhancing market liquidity. Bitwise’s approach highlights the growing intersection of traditional finance and the crypto ecosystem, signaling a new phase of mainstream integration. 9 Leading Companies Embracing Bitcoin Reserves Several major companies, spanning industries from healthcare to tech, are embracing Bitcoin as a strategic reserve asset. Firms like Rumble, Genius Group, and Cosmos are increasingly allocating corporate cash reserves into Bitcoin, seeing it as a hedge against inflation and a store of value. This marks a significant shift towards mainstream adoption of crypto assets, reflecting growing institutional confidence. The decision could prompt further corporate integration into the digital asset space, enhancing Bitcoin’s legitimacy and driving more companies to diversify their treasury holdings. Impact: The growing trend of companies embracing Bitcoin as a strategic reserve asset highlights its shift from a speculative investment to a legitimate store of value. This move reflects institutional confidence in Bitcoin’s long-term potential as a hedge against inflation and economic uncertainty. As more firms allocate part of their reserves into Bitcoin, it not only enhances its legitimacy but also signals broader acceptance in traditional finance. This shift could attract more institutional investors, increase demand for Bitcoin, and further stabilize its position