Crypto News. July 11, 2025
Vare Crypto News is live ft Grayscale, Hedera, Polkadot, Ripple, Remix Point, EigenLayer, EigenCloud, Ripple, Circle, Okx, Monad, K Wave Media, KULR Technology, Agora, Smarter Web Company
Live on YouTube:
https://youtube.com/shorts/VZYWrJKdRWU
Live on TikTok:
https://vm.tiktok.com/ZMSpksMxJ/
Please subscribe.
DeFi
Coinbase has acquired the leadership team from Opyn, a crypto og derivatives and options protocol, as part of its efforts to grow in the derivatives space. Opyn key figures like CEO Andrew Leone and Head of Research Joe Clark will join Coinbase. However, the deal doesn’t include Opyn’s actual protocol or its products, just the team.
Tether to sunset USDT support on Algorand, Bitcoin Cash, EOS, Kusama, and Omni starting September 1
Nasdaq listed SharpLink Gaming (SBET) has acquired 10,000 ETH from Ethereum Foundation in an OTC deal valued at $25.7M.
The purchase was made at a price of $2,572.37 per ETH, bringing SharpLink’s total holdings to approximately 215,634 ETH. With this, they become the second largest ETH treasury.
The Ethereum Foundation is rolling out a 1 year plan to bring zkps to Ethereum’s base layer. The initiative begins with an optional zkEVM client that may become mandatory if proven reliable, according to protocol engineer Sophia Gold in a recent post titled “Shipping an L1 zkEVM #1: Realtime Proving.”
Rather than re-executing transactions, validators would verify blocks using multiple zk-proofs that meet tight performance targets: sub 10 second latency, 128-bit cryptographic security, small proof sizes, and compatibility with modest hardware setups.
Only a limited group of validators will run the new client initially. Over time, and with enough testing, audits, and formal verification, proof based validation could become the default and enable native zk rollups.
Uk web design firm, Smarter Web Company, purchased an additional 275 BTC for £21.88M. This brings its total holdings to 1,275 BTC
Stablecoin platform, Agora raised $50M in Series A round led by Paradigm, bringing its total funding to $62M following a $12 million seed round led by Dragonfly in 2024.
Agora is a platform that enables businesses to quickly create their own custom stablecoins, all backed by its dollar-pegged AUSD. Using a streamlined setup with features like zero fee minting (using USDT or USDC), institutional grade asset management, and integration with both CeFi and DeFi systems.
Nyse listed KULR Technology Group has added 90 BTC to its treasury for about $10 million. This brings its total holdings to 1,021 BTC $113M funded through a mix of surplus cash, a $300M equity program, and a $20M credit facility from Coinbase Credit.
Nasdaq listed K-pop media company, K Wave Media secured $1 billion in funding to fuel its bitcoin buying strategy. This includes a new $500M convertible note deal with Anson Funds and a previously announced $500M equity agreement with Bitcoin Strategic Reserve.
They’ve bought 88 BTC and plan to issue $15M in convertible notes and warrants in the first round, with at least 80% of that going toward more bitcoin. The notes can convert to shares at $4.40 each, allowing for up to $500 million in future issuance.
Monad has acquired Portal, a crypto payments infrastructure firm, bringing full stack stablecoin payment solution to the Monad ecosystem. As part of the deal, Portal CEO Raj Parekh will join the Monad Foundation as Head of Payments and Stablecoins.
Portal supports payments across 100+ blockchains
Circle has teamed up with OKX to expand USDC liquidity, making USDC easier to buy, trade, and transfer across blockchains. The partnership will give OKX’s 60 million+ users a direct 1:1 on-off ramp of USD to USDC through its platform.
Ripple has partnered with $52T AUM BNY Mellon to custody the US dollar and Treasury reserves backing its stablecoin RLUSD.
RLUSD recently hit $500m market cap within 7 months of launch
Eigen Labs, has cut about 25% of its staff as it pivots focus toward its new product, EigenCloud, the aws of crypto
EigenCloud, launched last month by Eigen Labs, brings together core services like data availability (EigenDA), execution (EigenCimpute), and verification (EigenVerify) into a single programmable verifiable cloud to let developers build dapps with the transparency and trust guarantees
Tokyo-listed energy firm, Remixpoint Inc, raised ¥31.5 billion ($215 million) and plans to use the full amount to buy bitcoin for its corporate treasury
Grayscale removed Polkadot (DOT) from its Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE) and replaced it with Hedera (HBAR), as part of its latest quarterly fund rebalancing.
