1inch co-founder Anton Bukov says he has fully stepped away from the decentralized finance project’s operations after more than seven years and is now launching a new venture called Second Tier. 

Bukov said the company fired him in late November 2025 after he pushed for changes to management and operations.

However, 1inch gave a different account of his recent role. The company said Bukov had not been actively involved in organizations linked to the project since December 2025. Bukov said he remains a co-founder and 50% shareholder but no longer has operational authority.

Bukov says management push ended with his firing

In a statement published on X, Bukov said feedback from users and colleagues led him to become more involved in leadership and company operations. He said he spent months working on his leadership and communication approach while trying to change how the organization operated. “In late November 2025 I was fired,” he said.

Bukov also drew a clear line between his ownership position and his current responsibilities. “I no longer take part in the company’s operations,” he said. 

He added that he has no role in product architecture or security and no oversight of either area. His statement leaves him as a shareholder and co-founder without a stated day-to-day management role.

1inch says operations and infrastructure remain unaffected

1inch responded on X by saying Bukov had not been actively involved in any associated organizations since December 2025. The statement presents a different timeline for his operational departure but does not change Bukov’s claim that the company dismissed him the previous month. The company has not publicly detailed the internal discussions that preceded the split.

We can confirm that Anton Bukov is no longer contributing to the 1inch project and has not been actively involved in any associated organizations since December 2025.

This does not affect the operation of 1inch Network or any associated organizations. The protocols,…

— 1inch (@1inch) July 16, 2026

Meanwhile, co-founder Sergej Kunz sought to reassure users about the project’s operations. He said Bukov’s departure “is not disrupting, will not disrupt, 1inch Network’s infrastructure or systems.” Kunz remains in charge as the protocol continues developing its trading and liquidity products.

Second Tier becomes Bukov’s next project

Alongside his departure statement, Bukov announced Second Tier as his next venture. He said he is building the project with people who share the same values from the start. However, public information about its products, funding and launch schedule remains limited.

The move closes Bukov’s active operating role at a project he co-founded with Kunz in May 2019. During his time at 1inch, Bukov worked on protocol architecture and security, according to his account. The project later expanded from decentralized exchange aggregation into cross-chain trading tools and other DeFi infrastructure.

1inch continues expanding its DeFi products

As previously reported by crypto.news, 1inch partnered with Rewardy Wallet in January to provide gasless cross-chain swaps across five blockchain networks through its Swap API. The integration formed part of 1inch’s broader effort to simplify decentralized trading while keeping users in control of their assets.

More recently, the leadership split comes after renewed attention on security across 1inch-linked infrastructure. In May, TrustedVolumes lost about $5.87 million after an attacker targeted its custom RFQ swap proxy. The incident did not affect a standard 1inch user swap route. 

Kunz later called for safer lending structures following separate stresses in DeFi markets. Bukov’s latest statement now makes clear that he no longer oversees 1inch product architecture or security, while the company maintains that its systems and ongoing operations remain unaffected by his departure.

Crypto exchange Bybit announced Thursday it has launched a locally operated platform in Indonesia after acquiring a majority stake in digital asset firm PT Enkripsi Teknologi Handal, formerly known as NOBI. 

The deal saw NOBI rebranded as Bybit Indonesia. The crypto exchange said it plans to introduce its services in phases, starting with 500 cryptocurrency trading pairs. 

The exchange will be led by Lawrence Samantha, who will serve as CEO and Dionisius Evan, who serves as chief operating officer, both formerly senior executives at NOBI. 

“This acquisition allows us to combine Bybit’s global capabilities with an experienced local team that understands Indonesia’s market and regulatory environment,” Samantha said in a statement. 

As of February 2026, Indonesia had 21.07 million registered crypto asset users, according to the Indonesia Financial Services Authority, with total crypto transaction value reaching $26.85 billion (482 trillion Indonesian rupiah) in 2025.

As of April, Indonesia had licensed 31 crypto-related entities, including two crypto exchanges, two clearing institutions, two custodians, and 25 digital asset traders, one of which is PT Enkripsi Teknologi Handal.

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Balaji Srinivasan has paused further investment in Malaysia and is seeking a formal agreement with the government after authorities investigated his Network School community in Johor’s Forest City. 

The former Coinbase chief technology officer said he wants written assurance that the project and its participants are welcome before committing more capital.

The dispute began after social media allegations claimed that Israeli citizens were staying at the community while using second-country passports. However, Malaysia’s Immigration Department later said all 266 foreigners inspected held valid travel documents. Officials said further checks would continue if new evidence raised questions about identity, permits, or immigration rules.

Balaji seeks written deal with Malaysia

Srinivasan said he wants more than broad statements supporting technology investment. In a video posted on X and addressed to Prime Minister Anwar Ibrahim, he asked for a document confirming that Network School can continue operating and investing in Malaysia with greater legal certainty.

Should the global tech community continue investing in Malaysia?

Given recent events, I raise this question respectfully for the consideration of Prime Minister Yang Amat Berhormat Dato’ Seri Anwar bin Ibrahim (@anwaribrahim), for the people of Malaysia, and for our friends in… pic.twitter.com/0kvDSfF1z9

— Balaji (@balajis) July 16, 2026

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“I’d like to have a document which says not just abstractly that tech is welcome … but rather that we’re personally welcome,” Srinivasan said. 

He suggested that the arrangement could take the form of a memorandum of understanding or changes linked to a special economic zone provision.

$122 million expansion plan put on hold

Meanwhile, Srinivasan said Network School would pause further investment in Malaysia until it receives “sufficient assurance” that similar disputes will not happen again. The decision includes a planned $122 million expansion of the community, according to reporting on his statement.

He also warned that the project could move its capital elsewhere. “If not, then we will readily go somewhere else because I don’t want to be where we’re not welcome,” Srinivasan said. Still, he did not name alternative locations or give a deadline for reaching an agreement with Malaysian authorities.

Immigration checks find valid documents

The investigation followed claims shared by activist group Malaysian Protest 4 Palestine in an Instagram post, which accused Network School of hosting Israeli entrepreneurs. Malaysian authorities then reviewed the status of foreign residents at the Forest City site.

However, the Immigration Department said its initial inspection found valid documents for 266 foreigners from 40 countries. Reuters also reported that Malaysia bars entry to Israeli passport holders without special permission but has no specific law banning Israelis who enter using another country’s passport. 

Therefore, the document checks did not establish the social media allegations, while officials said further investigations could continue if new information emerged.

Network School faces new test in Forest City

Srinivasan launched Network School in 2024 as a physical community for founders, technologists, and other builders. The project operates in Forest City, a large Johor development near Singapore, and forms part of his broader idea of internet-based communities building permanent physical hubs.

As crypto.news reported in June, Forest City also hosted Q-Day, a blockchain security event where Srinivasan was listed among the speakers. More recently, he was announced as a headline speaker for Bitcoin Asia 2026 in Hong Kong.

Trump Media & Technology Group (TMTG), the company behind the Truth Social platform, says it is preparing a new paid API aimed at institutional investors and trading firms. The service is designed to deliver low-latency access to posts from Truth Social’s most influential accounts, including U.S. President Donald Trump.

According to a filing made with the U.S. Securities and Exchange Commission, TMTG expects the “Truth API” to be available to institutional customers starting Aug. 1, 2026. The company framed the product as a machine-readable, real-time feed suitable for high-frequency and algorithmic trading strategies.

Key takeaways

• TMTG plans a paid “Truth API” to provide licensed, real-time access to posts from select Truth Social accounts.
• The API is targeted at institutional customers and is positioned for low-latency use cases such as algorithmic and high-frequency trading.
• Availability is expected from Aug. 1, 2026, according to TMTG’s SEC filing.
• TMTG says the new offering is intended to reduce scraping and push data access through authorized channels.

A licensed feed for market-facing automation

TMTG’s announcement centers on an API that packages Truth Social content into a format traders and data systems can ingest quickly. The company stated that the goal is to provide “the fastest” access to posts from Truth Social’s most market-moving accounts, including Donald Trump, through a licensed channel.

In the SEC filing referenced in the report, TMTG described the API as a direct feed built for environments where timing and machine readability matter—particularly for algorithmic and high-frequency trading firms. For investors and market participants, the implication is straightforward: instead of manually monitoring posts or relying on third-party workarounds, institutions could potentially integrate Truth Social updates directly into their data and execution pipelines.

Kevin McGurn, TMTG’s interim CEO, linked the product to both market relevance and monetization. In a statement tied to the announcement, he argued that “markets already move on Truth Social posts,” and positioned the Truth API as a way to monetize what the company calls proprietary assets through a recurring revenue stream.

Why Truth Social posts are being packaged as a tradable data stream

TMTG points to the platform’s track record of influencing market attention, noting that posts attributed to Trump’s account have been cited as market-moving. The report’s examples include comments connected to the ongoing Iran-U.S. conflict, underscoring the company’s view that Truth Social can function as a real-time communications channel with immediate downstream effects.

The announcement also highlights that Truth Social includes several prominent accounts beyond the president. The report names Donald Trump Jr, Eric Trump, and FBI Director Kash Patel among other major figures on the platform. While the precise mechanics of which accounts will be included—and how frequently data updates will arrive—are not detailed in the excerpt, the company’s emphasis on “influential” accounts indicates a curated list rather than a universal firehose.

For institutional users, such curation could matter as much as latency. Many trading and analytics setups prefer structured, predictable feeds that target specific signal sources, reducing the overhead of filtering large volumes of content.

TMTG targets scraping—and shifts data access to “direct” licensing

A core theme of the announcement is enforcing terms around how Truth Social data is obtained. McGurn’s statement, as reported, contrasts the Truth API with what he described as past attempts to scrape content. He said that scraping data from Truth Social violates the platform’s terms of service.

In a quote attributed to CNN, McGurn added that the company intends to “create a lot of friction” for those who do not come to TMTG directly. That line signals that the Truth API is not only about adding a new revenue stream; it is also about changing behavior in the broader market data ecosystem.

Historically, major social platforms often face the same recurring challenge: third-party aggregators scrape content or republish it without licensing. By offering a paid, low-latency alternative, TMTG is effectively betting that many institutional workflows can be shifted away from gray-market access and toward formal licensing.

What investors should watch next

Even with the Aug. 1, 2026 target date, important questions remain for anyone tracking the Truth API’s rollout—particularly which specific accounts will be included, how the data will be structured for machine reading, and what latency and availability guarantees will look like in practice. Traders and data buyers will likely want clarity on the licensing scope and the operational details that determine whether the feed can truly fit into automated decision systems.

Citadel Securities has invested $400 million in Crypto.com, valuing the digital asset platform at $20 billion in its first institutional funding round. 

The deal brings together a leading U.S. market maker and one of the world’s best-known crypto exchanges. Crypto.com announced the investment on July 16.

The company said it plans to use the capital to expand across more asset classes. In particular, Crypto.com named tokenized securities and derivatives among its priorities as it builds services that connect traditional markets with digital asset infrastructure.

Citadel Securities makes $400 million Crypto.com investment

The strategic investment gives Crypto.com a $20 billion valuation. It also marks the first time the company has raised institutional funding since its founding in 2016. However, the companies did not disclose the size of the stake Citadel Securities received or other terms of the transaction.

Crypto.com CEO Kris Marszalek said the company expects digital assets to play a larger role in financial markets. He said “crypto increasingly becomes the rails for finance.” 

According to the company, its existing regulatory and technology systems will support its planned expansion into additional financial products.

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Funding targets tokenized securities and derivatives

Crypto.com said the funding will accelerate its move into tokenized securities, derivatives, and other asset classes. The exchange aims to build a broader financial platform that operates around the clock while offering products linked to both traditional and digital markets.

Meanwhile, institutional investment in tokenization has continued to grow. As crypto.news previously reported, Digital Asset Holdings raised $355 million in June in a round backed by Citadel Securities and other institutions. The company behind Canton Network focuses on blockchain infrastructure for tokenized assets and regulated finance.

Citadel expands its links to digital asset infrastructure

Citadel Securities already has links to several digital asset projects. The company describes itself as the No. 1 U.S. retail market maker and says it handles about 35% of U.S.-listed retail trading volume. Its direct investment in Crypto.com adds another connection to the growing market for digital asset infrastructure.

Moreover, affiliates of Citadel Securities participated in Ripple’s $500 million strategic funding round in November 2025. That transaction valued Ripple at $40 billion as the company expanded its businesses across custody, stablecoins, and prime brokerage.

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Crypto.com prepares for broader financial market expansion

Citadel Securities President Jim Esposito said the combination of traditional markets and digital asset infrastructure could improve market efficiency. He added that Crypto.com had built a platform capable of supporting greater institutional participation in digital assets.

At the same time, Crypto.com has widened its focus beyond cryptocurrency trading. The company has identified prediction markets and tokenized real-world assets as areas for further development. The new capital gives it more funding to pursue that strategy as exchanges and financial companies compete to offer more products around the clock.

The deal also comes as tokenized assets attract greater attention from Wall Street. As crypto.news reported, firms including BlackRock, JPMorgan, Nasdaq, and Citadel Securities have been building infrastructure for tokenized finance. Against that backdrop, Crypto.com’s first institutional funding round supports its effort to expand beyond its core crypto exchange business.

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Bitcoin BTC$63,468.02 and Asian stocks fell Friday after fresh U.S. airstrikes on Iran raised geopolitical uncertainty. Additionally, President Donald Trump’s allegations that China tampered with the 2020 election hurt risk sentiment, sending the Australian dollar lower.

BTC, the leading cryptocurrency by market value, slipped to $63,600, extending Thursday’s nearly 1.4% slide from $65,000, according to CoinDesk data. As of this writing, the cryptocurrency traded just below its 50-day simple moving average, the widely-tracked gauge of near-term momentum.

Asian equity markets wilted, with Japan’s Nikkei trading nearly 3% lower at its lowest in over a month. Australia’s ASX 200 slipped by 0.5% alongside a 0.8% drop in futures tied to Nasdaq. Wall Street’s tech-heavy index fell by over 1.6% on Thursday.

Iran’s semi-official Fars news agency quoted Hormozgan Province Governorate, saying that U.S. airstrikes have hit five bridges in the southern Hormozgan province. A missile strike also hit Iran’s Chabahar maritime control tower. Surprisingly, WTI oil futures held steady at around $79 per barrel, ignoring the geopolitical stress from the fresh wave of U.S. attacks on Iran.

Venezuela’s USDT market is handling volumes that now rival one of the country’s largest sources of foreign currency.

Ecoanalítica estimated that 1.389 billion USDT changed hands on Binance’s peer-to-peer market between June 11 and July 13, equal to about 44 million USDT per day.

The research firm estimated that the volume represented about 75% of Venezuela’s monthly oil export value. However, a separate calculation using June crude exports and the average price of Merey crude places the ratio closer to 52%, showing that the comparison depends on the method and reference period used.

Binance P2P becomes a major foreign-currency channel

Ecoanalítica developed a method to estimate the size of Binance’s P2P market in Venezuela. According to the firm, the results show how the platform has moved from a small alternative market into a major channel for buying and selling dollar-linked value outside the traditional banking system.

The 1.389 billion USDT volume also equaled about 64.2% of the $2.163 billion in foreign currency supplied by the Central Bank of Venezuela during June, based on figures cited by CriptoNoticias. 

USDT Trading in Venezuela Now Rivals the Country’s Oil Exports

Between June 11 and July 13, about 1.389 billion USDT was traded on Binance’s peer-to-peer market in Venezuela, averaging roughly USD 44 million a day. Ecoanalítica, a Venezuelan economic research firm, estimated…

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— Wu Blockchain (@WuBlockchain) July 17, 2026

The central bank increased its supply by 36% from May as it sought to reduce pressure on the bolivar. Ecoanalítica placed the comparison at 88%, although it did not publish enough detail to verify the difference.

USDT trades at a premium to Venezuela’s official dollar rate

Meanwhile, USDT traded around 840 bolivars on local P2P markets, about 15.5% above the official exchange rate of 727 bolivars per U.S. dollar on July 16. The spread remained narrower than earlier in 2026, when the difference between official and alternative rates stood near 30%.

Ecoanalítica director Alejandro Grisanti said Binance had gone “from being a marginal market to becoming one of the main channels for buying and selling foreign currency.” He also said P2P activity could slow if formal banks regain more capacity to supply foreign currency. As a result, users could shift some transactions back to traditional financial platforms.

Oil figures leave the 75% estimate open to question

Venezuela exported about 1.2 million barrels of crude per day in June, while the average price of Merey crude fell to $71.13 per barrel from $82.77 in May. Using those figures, monthly crude export value would stand near $2.56 billion, putting the reported USDT volume at roughly 52% rather than 75%.

The difference may reflect another export price, reference period, or method used by Ecoanalítica. However, Grisanti did not provide the full calculation behind the 75% figure. Therefore, the oil comparison remains an estimate, while the reported Binance P2P volume stands at 1.389 billion USDT for the period.

Stablecoins remain tied to Venezuela’s oil and dollar market

The latest figures add to a longer shift toward stablecoins in Venezuela. As crypto.news previously reported, state oil company PDVSA had been gradually moving some crude and fuel sales toward USDT as U.S. sanctions made conventional payment channels harder to use. That development connected the country’s oil trade with the same dollar-linked token now widely traded in its domestic P2P market.

More recently, as crypto.news reported in April, Tether said it had frozen more than $344 million in USDT linked to sanctions evasion and criminal networks in cooperation with U.S. authorities. The report also noted earlier concerns about PDVSA’s use of USDT. The latest P2P estimates now place stablecoin trading at a scale comparable with major official and export-related foreign-currency flows.