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  • 00:03
    Suspected Bitmine new wallet withdraws over 63,000 ETH worth approximately $253 million from Bitgo and a certain exchange
    Jinse Finance reported, according to OnchainLens, that three newly created wallets withdrew a total of 63,539 ETH from Bitgo and a certain exchange, equivalent to approximately $253 million at current prices. These funds are suspected to belong to Bitmine.
  • 00:03
    Sky Protocol repurchased 11.25 million SKY tokens for $680,000, with total buybacks exceeding $79 million.
    According to ChainCatcher, citing an official announcement from Sky Protocol, last week the project team used $680,000 USDS to buy back 11.25 million SKY tokens. To date, the total amount of USDS used for buybacks has exceeded $79 million.
  • 2025/10/20 23:01
    Federal Reserve's Barr expresses concerns over Bitcoin-backed stablecoins
    Jinse Finance reported that Federal Reserve Governor Michael Barr expressed concerns that under the newly passed GENIUS Act, stablecoins might use bitcoin as a reserve asset, which could threaten the stability of these digital payment tools. Barr acknowledged the potential advantages of stablecoins in international remittances, cross-border trade, and corporate financial management, but emphasized that there are significant regulatory loopholes under current frameworks. Although the GENIUS Act does not directly support bitcoin as a reserve, it allows holding "any medium of exchange authorized or adopted by a foreign government" as a reserve asset. Barr pointed out that El Salvador once adopted bitcoin as legal tender and still allows voluntary transactions, so issuers might argue that bitcoin buybacks could qualify as eligible reserve assets for stablecoins.
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