Russia’s largest crypto mining firm, BitRiver, has entered a legal and financial crisis, highlighting rising operational and regulatory risks in the mining sector.
Institutional participation rebounded as Bitcoin spot ETFs recorded over $560 million in daily inflows, led by Fidelity and BlackRock.
Hyperliquid’s HYPE token surged 22% into the crypto top 10, standing out amid broader market volatility and selective risk-taking.
The cryptocurrency market saw major developments through renewed institutional participation, regulatory negotiations, and selective token outperformance. From the collapse of Russia’s largest crypto mining firm to record ETF inflows and a major altcoin entering the top 10.
Russia’s largest industrial crypto mining firm BitRiver has entered a legal and financial crisis following the house arrest of its founder and CEO Igor Runets.
Russian authorities charged Runets with multiple counts of asset concealment related to tax evasion, placing him under house arrest as legal proceedings unfold.
The case follows bankruptcy supervision proceedings against Fox Group, the holding entity controlling the bulk of BitRiver’s management structure.
Creditors are seeking more than $9 million in unpaid obligations, linked to allegations that advance payments for mining equipment were accepted but never fulfilled.
ING Deutschland has opened retail access to crypto-linked exchange-traded notes (ETNs), allowing customers to gain exposure to Bitcoin, Ethereum, and Solana directly through standard brokerage accounts.
The physically backed ETNs issued by providers such as 21Shares, Bitwise, and VanEck remove the need for private wallets or direct token custody.
ING emphasized that while the products align with Germany’s tax framework, where long-term holdings may be tax-exempt, they are still high-risk instruments subject to extreme volatility, liquidity constraints, and issuer risk.
The move aligns with ING’s broader digital asset strategy, which includes participation in a European banking consortium exploring a euro-denominated stablecoin under the EU’s MiCA regulatory framework.
The White House meeting, which included lawmakers, Wall Street bankers, and industry specialists, achieved progress on the previously blocked Senate crypto market structure bill.
The challenge exists as stablecoin regulations need to determine whether stablecoins that generate yields or provide rewards should become acceptable.
The participants identified the talks as productive even though no final agreement was established.
The Senate Banking Committee needs to advance the bill through its process and obtain bipartisan backing to achieve its outcome.
HYPE, the native token of Hyperliquid, emerged as a standout performer amid broader market volatility.
The token saw a 22% price increase, resulting in a market capitalization that exceeded $9.8 billion, thus making it one of the ten most valuable cryptocurrencies.
Hyperliquid's derivatives and perpetual futures markets attracted traders, with increased trading volume that reached $846 million within a single day.
Analysts link the market rally to two factors: increasing platform usage and demand that originates from protocol operations, enabling HYPE to perform better than other assets in the current market conditions.
According to SoSoValue, Bitcoin spot ETFs recorded a net inflow of $561.9 million in a single day, with none of the twelve approved funds posting net outflows.
Fidelity’s FBTC led with $153.4 million in inflows, followed closely by BlackRock’s IBIT at $142 million.
Total Bitcoin spot ETF assets now stand at $100.38 billion, representing approximately 6.44% of Bitcoin’s total market capitalization.
Cumulative historical inflows have reached $55.57 billion, signaling sustained institutional interest despite price volatility.
Also Read: Bitcoin Price Today at $78,769 as Crypto Market Faces Heavy Volatility
ARK Invest, led by Cathie Wood, leaned into the recent crypto-related equity sell-off, purchasing approximately $72 million worth of crypto-linked stocks across its funds.
Major additions included Robinhood, CoreWeave, Circle Internet, Coinbase, Bullish, Bitmine Immersion Technologies, and Block.
The buying occurred as Bitcoin briefly dipped below $75,000, pressuring crypto equities.
ARK’s strategy reflects its long-standing approach of accumulating during downturns, betting on renewed adoption and transaction growth as market cycles turn.
Also Read: Ethereum in 2026: Trouble Ahead or Legendary Rebound Incoming?
1. Why did BitRiver collapse?
BitRiver’s downfall followed criminal charges against its founder, mounting unpaid debts, executive resignations, and bankruptcy proceedings against its holding company.
2. What does ING Deutschland’s crypto ETN launch mean for retail investors?
It allows regulated crypto exposure through traditional brokerage accounts without wallets, though ING cautions about high volatility and issuer risks.
3. What is blocking US crypto legislation progress?
The main hurdle remains stablecoin regulation, particularly whether yield-generating or reward-based stablecoins should be permitted under federal law.
4. Why did the HYPE token rally sharply?
HYPE benefited from increased trading activity on Hyperliquid’s derivatives platform, pushing its market cap above $9.8 billion and into the top 10.
5. Why are Bitcoin ETF inflows important right now?
Strong ETF inflows signal renewed institutional confidence, even as spot prices remain volatile and broader crypto markets stay selective.
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