Crypto World
BitMart faces Aug. 19 deadline over withdrawals and user funds
BitMart users and employees have demanded that the crypto exchange disclose its reserves, explain reported withdrawal restrictions, and publish a repayment plan by Aug. 19 as questions continue over customer funds and unpaid staff compensation.
Summary
- BitMart users and employees have demanded a public explanation over withdrawal restrictions and unpaid compensation.
- The group wants BitMart to disclose its assets, liabilities, wallets and usable reserves by Aug. 19.
- A detailed user repayment plan and independent third party audit have also been requested.
- The group said it may submit evidence to regulators and law enforcement if BitMart fails to respond by the deadline.
A public statement posted on X and addressed to BitMart founder Sheldon Lee and Yi Li said a large number of users remained unable to withdraw their assets, while some employees had not received their previous month’s salary or compensation owed to them.
The statement called for BitMart to provide verifiable information on its wallets, assets, liabilities and reserves available to meet customer withdrawals. It also asked the exchange to accept independent third-party scrutiny of the figures instead of relying on company statements about its financial position.
In a translated version of the statement, the group called on BitMart to “disclose the wallets,” “disclose the assets,” “disclose the liabilities” and “disclose the actual usable reserves.”
The demands come weeks after BitMart announced plans to wind down its trading platform after nine years of operation. On July 26, the exchange said it would stop new registrations, deposits and new trading activity while allowing customers to withdraw funds during the shutdown process.
BitMart said at the time that all trading services would end on Aug. 26 before the company ceased operations on Jan. 31, 2027. The exchange attributed the decision to its operating conditions, market environment, and future strategy without identifying a specific financial or operational event behind the closure.
BitMart users seek answers over withdrawal restrictions
Alongside the request for reserve information, the open letter asked BitMart to explain why users were reportedly still unable to complete withdrawals normally and when management first became aware of the problems.
The statement asked who decided to restrict withdrawals, when the decision was made, and whether BitMart continued encouraging customers to deposit, trade or leave assets on the platform after management became aware of withdrawal or funding issues.
BitMart had addressed separate withdrawal complaints before announcing its shutdown. In a statement published in June, the exchange said reports of users being unable to withdraw or facing account restrictions were mainly connected to risk controls targeting what it described as an organized scheme designed to exploit platform activity subsidies.
Following the July shutdown announcement, BitMart said withdrawals would remain available but could be subject to additional checks involving identity verification, devices, IP addresses, withdrawal destinations, sources of funds and sanctions screening. The exchange also warned that a large number of requests could increase processing times.
The current open letter disputed whether the shutdown notice alone addressed the problems reported by users and employees, arguing that customers needed an accounting of the assets available to meet their balances.
Such disclosures would require information beyond a list of wallet holdings to establish a complete picture of an exchange’s finances. A proof-of-reserves report can verify crypto held in identified wallets against customer balances at a particular time, but it does not necessarily reveal off-chain liabilities, borrowed assets or other obligations.
Recent exchange disclosures show how those figures can be presented. In July, crypto.news reported that Binance reserve data showed customer Bitcoin holdings increasing by 7,715 BTC during June, with the report based on a July 1 snapshot. The same report noted that reserve snapshots do not constitute complete financial audits.
Open letter calls for investigation of related accounts
The BitMart statement also sought an investigation into accounts, affiliated companies, trusts and other arrangements that may have handled funds connected to users.
Yi Li was specifically asked to explain the source and ownership of funds held in accounts allegedly associated with her. The open letter said materials awaiting further verification indicated that accounts linked to Li may have held assets worth tens of millions of dollars and showed records of withdrawals conducted in batches.
The statement did not present the unverified information as proof of wrongdoing and explicitly said no criminal characterization should be applied to any individual before the evidence was established.
Instead, the authors asked Li to confirm whether the accounts existed and, if so, identify who owned the assets, where the funds originated, why they entered the accounts, where withdrawals were sent and whether any of the money had a connection to BitMart customer assets.
“If these records are fake, please publicly clarify,” the statement said.
The open letter also referred to social media posts showing luxury purchases associated with Li but acknowledged that such spending was not evidence of a crime. Its authors argued that questions about the source of funds should be answered because of the allegations surrounding BitMart’s finances.
Any funds potentially connected with customer assets should be traced across accounts, companies and ownership structures, according to the statement, which called for an independent investigation into the relevant transactions.
Employees demand unpaid salaries and compensation
Employee payments form a separate part of the demands, with the statement claiming that some BitMart staff had not received their previous month’s salaries or compensation owed following the exchange’s decision to wind down.
The authors argued that ordinary employees were not responsible for decisions about company finances or the shutdown and should not bear losses resulting from management decisions.
“Work done deserves pay. Compensation owed must be paid,” the statement said.
BitMart’s closure came after the exchange had maintained a sizeable presence in crypto trading. Previous coverage in December 2025 found that BitMart showed higher order-book depth across observed Bitcoin and Ethereum perpetual markets than several competing centralized exchanges during the measured period.
The exchange also suffered a major security breach years before its current wind-down. In December 2021, hackers compromised BitMart hot wallets and removed roughly $196 million in crypto assets, after which the exchange said affected customers would be compensated.
BitMart repayment plan sought by Aug. 19
The open letter set Aug. 19 as the deadline for BitMart to provide both a verifiable asset disclosure and a detailed repayment plan for users.
Under the requested plan, BitMart would disclose the value of remaining assets and total liabilities, estimate how much customers could recover and explain the order in which repayments would be processed.
Users also requested dates for the beginning and completion of repayments, details of the party responsible for overseeing the process and confirmation of whether BitMart would submit to an independent third-party audit.
Reserve disclosures have become common among major centralized exchanges, although the scope of reporting differs between platforms. June reserve reports from Bybit and OKX showed higher customer Bitcoin balances at both exchanges, while their reported USDT holdings declined. The snapshots provided wallet and customer-balance information but did not establish the companies’ complete financial positions.
For BitMart, the open letter sought a disclosure specifically tied to its ability to meet outstanding customer claims during the wind-down, including the amount of usable reserves and liabilities remaining on the platform.
If BitMart does not provide a complete and verifiable response by Aug. 19, the authors said they would consider submitting available materials, transaction leads and other evidence to law enforcement agencies, regulators, lawyers and media organizations in multiple jurisdictions.
The statement also called on crypto companies, industry figures, researchers and media organizations to follow the dispute and support independent examination of the fund flows. Its authors said they were not asking third parties to accept the allegations in advance and instead wanted the underlying evidence made public.
“If BitMart’s core management thinks there’s any misunderstanding in the above questions, they can absolutely address them one by one with public, verifiable evidence,” the statement said.
Binance gave Russian authorities customer records later used to charge a Russian IT specialist with financing terrorism over donations to Ukrainian groups, according to a report by Reuters on Monday.
The exchange identified Yuri Belenkiy as the source of transfers worth more than $700, Reuters reported, citing law enforcement documents. Binance also allegedly provided his date of birth, address, phone number and passport number, alongside copies of his Russian passport and Bulgarian residency permit.
Russian authorities detained Belenkiy in September 2025 and he remains in jail awaiting trial.
Russia’s Investigative Committee alleged that Belenkiy made the payments between January 2023 and March 2024 after an appeal by exiled Kremlin critic Arkady Babchenko. The funds were intended for the Ukrainian military and a group associated with the Azov Brigade, which Moscow classifies as a terrorist organization.
Investigators reportedly received two responses from case@binanceholdings.ru after requesting Belenkiy’s transaction history. Binance’s website had directed Russian and Belarusian law enforcement agencies to that address.
Binance’s current law-enforcement guidelines say the exchange requires a valid court order, police order or warrant before providing user information in a criminal investigation.
Alibaba Group Holding (BABA) is selling its gaming unit, Lingxi Games, to Asian private equity firm Trustar Capital in a transaction reportedly worth at least $1.5 billion.
The sale comes as CEO Eddie Wu makes artificial intelligence and cloud computing key strategic priorities for the company.
Why Alibaba Is Letting Go of Gaming
Lingxi CEO Zhou Bingshu told employees in a Monday memo that the handover frees Alibaba to concentrate on its strategic priorities.
“Alibaba is handing Lingxi to Trustar due to better focus on its strategic priorities,” Zhou said.
Chief executive Eddie Wu has been pruning assets outside the company’s core. Alibaba sold its controlling stake in hypermarket operator Sun Art Retail Group to DCP Capital for roughly $1.6 billion in January 2025.
Trustar Capital, an Asian buyout firm, emerged as the preferred bidder ahead of strategic buyers from the gaming industry, people familiar with the matter said. The reported price tops the roughly 9 billion yuan Alibaba was earlier expected to fetch.
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The $100 Billion AI Target Behind the Sale
In March, Alibaba outlined its goal to pass $100 billion in combined AI and cloud revenue within five years. The company has already pledged 380 billion yuan, about $53 billion, to that infrastructure over three years.
Momentum has followed. Alibaba shipped its largest model to date this month. Arena ranked Qwen3.8-Max fourth on its frontend coding leaderboard, behind two Claude Opus 5 variants and Moonshot’s Kimi K3.
That push sits inside a wider contest with US labs. Chinese AI model usage has already surpassed that of American rivals in monthly tokens processed.
Alibaba reports June quarter results on Thursday, August 20. The number that matters is whether AI-related product revenue continues to compound fast enough to justify the divestments that fund the shift.
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The Federal Reserve’s struggle to manage a soft landing, where inflation falls without triggering a recession or a sharp rise in unemployment, will influence markets this week, with Wednesday’s FOMC minutes offering a closer look at whether the central bank is considering additional interest-rate increases.
Adam Posen, president of the Peterson Institute for International Economics, said he sees just a 25% chance of a Fed hike in September. Rather, he expects the first move in December, even as he forecasts inflation rising again in early 2027.
Geopolitical developments will also need to be monitored, given their strong influence on volatility expectations and the price of oil.
Higher interest rates make risky assets like cryptocurrencies less attractive.
Within crypto, European Union operators face a Sunday deadline to stop transactions with 14 named crypto platforms, marking the week’s clearest regulatory milestone.
What to Watch
(All times ET)
- Crypto
- Aug. 18: Coinbase and Circle’s USDC collaboration agreement, which governs their revenue-sharing economics, enters its first three-year renewal term.
- Aug. 23: The EU’s ban on transactions with 14 named crypto-asset service platforms becomes applicable.
- Macro
- Aug. 17, 8:30 a.m.: Canada Consumer Price Index YoY for July est. 2.6% (Prev. 2.8%)
- Aug. 18, 9:15 a.m.: U.S. Industrial Production MoM for July est. 0.3% (Prev. 0.1%)
- Aug. 19, 2 a.m.: U.K. Headline CPI YoY for July est. 3.0% (Prev. 2.6%); Core YoY (Prev. 2.6%)
- Aug. 19, 5 a.m.: Euro area headline inflation YoY (final) for July est. 2.9% (Prev. 2.8%); Core YoY est. 2.5% (Prev. 2.4%)
- Aug. 19, 2 p.m.: U.S. FOMC Minutes from the July 28–29 meeting
- Aug. 20, 8:30 a.m.: U.S. Initial Jobless Claims for the week ended Aug. 15 est. 201K (Prev. 209K)
- Aug. 20, 7:30 p.m.: Japan Headline CPI YoY for July (Prev. 1.7%); Core CPI YoY est. 1.8% (Prev. 1.6%)
- Aug. 21, 2 a.m.: U.K. Retail Sales MoM for July (Prev. 1.0%)
- Aug. 21, 4 a.m.: Euro Area S&P Global Composite PMI Flash for August est. 51.6 (Prev. 52.0)
- Aug. 21, 9:45 a.m.: U.S. S&P Global Composite PMI Flash for August est. 53.2 (Prev. 54.5)
- Earnings
- Aug. 17: BitFuFu (FUFU), pre-market, $0.01
- Aug. 18: Canaan (CAN), pre-market, -$0.14
- Aug. 18: BTCS Inc (BTCS), post-market
Token Events
- Governance Votes & Calls
- Compound is voting to cut rates on deprecated markets to zero (Prop 595) and apply L2 security upgrades (Prop 596). Voting ends Aug. 16.
- Frax Finance is voting on FIP-450 and FIP-451 to add Gearbox and Royco yield strategies to sfrxUSD through Aug. 17.
- ShapeShift DAO is voting to move its rFOX staking program from Arbitrum to Ethereum Mainnet on Oct. 1, temporarily doubling revenue-share rewards to 50% for three months to incentivize migration. Voting ends Aug. 18.
- Rocket Pool is voting to replace Snapshot with RocketDash as its official offchain signaling platform to reduce costs. Voting ends Aug. 19.
- GnosisDAO is voting to transition Gnosis Chain from a standalone layer 1 into an Ethereum-settled rollup with synchronous mainnet composability, with voting ending on Aug. 19.
- Decentraland DAO is voting on establishing a clear governance framework and appeal process for platform-wide bans. Voting ends Aug. 19.
- THORSwap is voting on TIP-19 to migrate THOR tokens 1:1 to METRO on Ethereum mainnet. Voting ends Aug. 22.
- Unlocks
- Aug. 17: Aster to unlock 1.8% of its circulating supply worth $28.3 million.
- Aug. 18: Official Trump (TRUMP) to unlock 4.1% of its circulating supply worth $40 million.
- Aug. 20: LayerZero to unlock 4.5% of its circulating supply worth $24.8 million.
- Aug. 20: Kaito to unlock 6.2% of its circulating supply worth $11.7 million.
- Aug. 21: Avalanche (AVAX) to unlock 0.7% of its circulating supply worth $23.1 million.
- Aug. 21: Morpho to unlock 3.9% of its circulating supply worth $22.7 million.
- Aug. 21: Akedo Games (AKE) to unlock 4.9% of its circulating supply worth $14.1 million.
- Token Launches
Binance provided Russian investigators with identity documents and cryptocurrency transaction records later used in a terrorism financing case against Russian IT specialist Yuri Belenkiy, according to an Aug. 17 Reuters investigation.
Summary
- Binance provided Russian investigators with Yuri Belenkiy’s identity and transaction records during 2025, Reuters reported.
- Russian authorities accused Belenkiy of sending more than $700 in cryptocurrency to Ukraine linked organizations.
- Belenkiy remains detained awaiting trial, while his lawyer has not publicly addressed Binance’s reported involvement.
- Binance says it answers lawful global information requests under applicable privacy, legal and regulatory requirements.
- Reuters could not establish whether Belenkiy registered with Binance as a Bulgarian or European resident.
The records reportedly included Belenkiy’s address, telephone number, date of birth, passport and Bulgarian residency permit. Russian authorities incorporated details of his Binance transactions into evidence supporting the criminal charge.
Belenkiy, 49, is accused of transferring more than $700 in cryptocurrency to organizations connected with Ukraine’s military. He remains detained in Russia while awaiting trial. Neither his lawyer nor Russian authorities responded to Reuters’ questions about Binance’s reported role.
Binance records identified Belenkiy and his transfers
Documents reviewed by Reuters showed that Russia’s Investigative Committee sent Binance a request for Belenkiy’s transaction history. The exchange reportedly responded with a data file confirming that he initiated transfers to a cryptocurrency wallet promoted by exiled Kremlin critic Arkady Babchenko.
Babchenko had published wallet addresses while raising money for medical equipment for Ukrainian soldiers. Russian investigators allege that Belenkiy made payments between January 2023 and March 2024 following those appeals.
The Investigative Committee also accused him of sending funds to a group associated with the Azov Brigade, which operates within Ukraine’s National Guard. Russia designates Azov as a terrorist organization. Other jurisdictions do not necessarily share Moscow’s classification.
Reuters said it reviewed an interim case outline sent to the Russian prosecutor general’s office. The document cited the Binance transaction records among the grounds for bringing terrorism financing charges.
The First Department, a legal support organization assisting defendants in politically sensitive Russian cases, obtained the documents from one of Belenkiy’s relatives. Reuters said it could not independently confirm how the organization received them.
Binance says it followed lawful information requests
Binance declined to discuss the confidential request or Belenkiy’s individual case. The exchange said it routinely cooperates with law enforcement bodies under applicable rules.
“Like other global financial institutions, we cooperate with lawful information requests from law enforcement globally, subject to applicable legal, privacy and regulatory requirements,” Binance said.
The company added that it does not create national laws, determine criminal charges or control how governments use information in court proceedings. Binance said those decisions rest with the relevant authorities.
An official Binance page instructs Russian and Belarusian law enforcement agencies to send requests to [email protected]. Reuters reported that Russian investigators received two replies from that address.
The page says Binance provides information and support as required by law. It does not explain which Binance entity handles Russian requests, which national law governs each disclosure or how the exchange evaluates requests involving possible political prosecutions.
Russia exit did not end law enforcement contact
Binance announced in September 2023 that it would fully exit Russia through its sale to CommEX. The company said operating there was incompatible with its compliance strategy.
Its official announcement said Binance would have no continuing revenue share or repurchase option. The customer migration and closure of Russian services were expected to take up to one year.
Lawyer Mike Bystrov told Reuters that Binance had no obligation to provide the records because it had left Russia. Binance disputed his interpretation but did not say which law required or permitted the disclosure.
Continued communication with investigators does not by itself show that Binance resumed commercial operations in Russia. Companies can retain historical customer records and respond to information requests after leaving a market. The legal basis and limits of that cooperation remain central questions in Belenkiy’s case.
CommEX later stopped operating after acquiring Binance’s local business. As previously reported, the proposed transition became uncertain when Binance’s Russian successor announced its closure.
GDPR protection remains an unresolved question
Belenkiy holds a Russian passport and a Bulgarian residency permit. Bystrov said European Union privacy protections could apply if Belenkiy registered his Binance account as an EU resident.
Under that interpretation, transferring personal information to Russia could require strict safeguards because the European Union does not recognize Russia as providing adequate data protection. The legal assessment would depend on Belenkiy’s account registration, the Binance entity controlling his data and the authority used for the transfer.
Reuters could not establish whether he registered as a Bulgarian resident. His lawyer did not answer that question, and Binance did not identify the entity that processed the request.
The European Data Protection Board declined to comment on the individual case. It said enforcement responsibility rests with national data protection authorities. Bulgaria’s Commission for Personal Data Protection did not respond to Reuters’ questions about whether any rules had been breached.
Bystrov said Binance “may” have had an obligation not to disclose the information under EU law, but no regulator or court has reached that conclusion.
The available documents concern only Belenkiy. Reuters could not determine whether Binance identified other people who donated through the same wallets or whether Russian authorities opened related cases using exchange data.
What happens next in the Binance data case
Belenkiy remains in detention pending trial. Russian authorities have not announced a trial date, while his lawyer has not publicly addressed the accuracy of the transaction evidence or Binance’s disclosure.
The criminal court may examine the transfers and other evidence when proceedings begin. Any GDPR inquiry would be separate and would likely require a European regulator to establish where Belenkiy’s account was registered and which Binance entity controlled his records.
The disclosure also adds to wider scrutiny of Binance’s compliance operations. In related coverage, Binance CEO Richard Teng rejected separate claims about weaknesses in sanctions controls and said the exchange works with law enforcement agencies worldwide.
Bitcoin near $63,500 looks like more summer torpor, capped below $64,000 and holding above the low-$60,000s, but the flow picture underneath has reversed, said Yusuf Fakhro, partner at ARP Digital, in a note to CoinDesk.
US spot ETFs took in more than 14,000 BTC over five days into August 7, he said, the strongest stretch since May, and Q3 has drawn roughly 11,000 BTC of net inflows against 110,000 BTC of outflows in the back half of Q2. The institutional selling that defined the second quarter has flipped to buying.
Spot volumes have fallen to two-and-a-half-year lows, perpetual volumes to three-year lows, and volatility sits near multi-year troughs, Fakhro said.
Fresh demand arriving into the thinnest tape in years, when nobody is watching, is how durable bottoms tend to form. He reads bitcoin’s six months stuck between $60,000 and $80,000, holding near a 50% drawdown rather than grinding lower the way the 2014, 2018 and 2022 bear markets did, as apathy rather than deterioration, with on-chain data starting to show bottoming characteristics as sentiment shifts from panic to caution.
The risk sits on both sides. Bitcoin is as stuck below $64,000 as it is above $62,000, a box rather than a launchpad, and leverage sharpens it. Perpetual open interest has held above 300,000 BTC through the summer, elevated against its average while volumes collapsed, which leaves the market exposed to a sharp liquidation move in either direction.
Gold continues to trade close to multi-month highs following its recent advance, which was supported by the latest US inflation data. July’s CPI broadly matched market expectations, reducing the likelihood of a Federal Reserve rate hike in September. Lower expectations for further monetary tightening remain supportive for gold, as elevated interest rates increase the opportunity cost of holding the non-yielding asset. According to CNBC, some investors have begun taking profits after the rally. Over the coming weeks, expectations surrounding the Fed’s interest-rate path are likely to remain one of the main drivers of the precious metal.
Technical Analysis of Gold
The four-hour XAU/USD chart shows a sustained uptrend that lifted the price towards the red resistance level at $4,450. An ascending trendline developed during the rally, but on 13 August the price broke below it on increased volume. The subsequent decline established a green support area around $4,312.
Following a rebound, gold returned to the dense area of the current market profile and is now trading between the Point of Control (POC) at $4,397 and the lower boundary of the profile at $4,346. If selling pressure builds, the $4,312 support zone could become increasingly significant.
A continuation of the upward move would bring the price into a relatively strong cluster of technical levels. The first obstacles are the POC at $4,397 and the upper boundary of the profile at $4,415. Beyond these levels, attention would shift towards the trend high around $4,450.
The RSI + MAs indicator currently shows readings of 52, 53 and 58. The oscillator and fast moving average have moved back into the neutral zone, while the slower moving average is following the same direction.
Key Takeaways
The main driver for gold remains the market’s expectations for the Federal Reserve’s interest-rate path. A further decline in expectations for rate hikes could continue to support buyers, while more hawkish signals from the central bank could increase selling pressure as the market undergoes a post-rally correction.
In the short term, gold is also likely to remain sensitive to movements in the US dollar and Treasury yields, both of which can significantly influence demand for the precious metal.
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Basecat (BASECAT) surged 2,034% over the past 24 hours, lifting its market value to $17.2 million and extending its gains since launch to over 12,000%.
The token pairs a cartoon cat in a blue construction helmet with no stated utility. Trading activity surged today after two key developments.
Where the BASECAT Rally Started
Trading in BASECAT opened on Uniswap V4 on August 15, according to pool data on GeckoTerminal. The price saw a notable surge on August 16, as the market value jumped from under $1 million to peak at $20.35 million.
The rally has continued today. According to the latest data, BASECAT’s market cap stood at $17.2 million at press time. The meme coin is up over 12,000 since its launch.
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Trading activity has also been heavily concentrated around the recent rally. Over the past 24 hours, buyers accounted for 30,539 transactions compared with 26,994 sells, for a total of 57,533 transactions. Net buying reached approximately $172,260, while total trading volume climbed to $24.67 million.
However, it’s worth noting that BASECAT has no roadmap or product claims. A community-run site describes the concept in plain terms.
“BASECAT is simple: a meme token on Base built around a tiny cat in a blue hard hat. No invented utility. No fake roadmap. The community makes the story,” the website reads.
Why is BASECAT Surging?
With BASECAT up sharply, a key question arises. What is driving the four-digit surge today? GeckoTerminal attributed the move to listings on Gate and Coinbase Wallet.
However, BASECAT’s market remains relatively thin compared with its valuation. Liquidity stood at about $539,700 against a market capitalization of $17.2 million, with roughly 10,200 holders.
Thus, the combination of high volume and relatively limited liquidity can amplify price movements in either direction. As a result, the token’s rapid rise may also leave it vulnerable to sharp reversals if buying momentum fades.
BASECAT’s move also follows a broader pattern among newly launched meme coins, where social attention and short-term trading activity can quickly drive valuations higher.
For example, PLUMBER climbed more than 10,000% in August after a viral Crypto Twitter argument. The token subsequently gave back a significant portion of its gains, highlighting the volatility surrounding attention-driven meme coin rallies.
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Crypto World
Zoomex Launches Stock Perpetuals Competition Round 2: Elevating Cross-Asset Derivatives for Global Traders
Zoomex, a global cryptocurrency derivatives exchange, today officially announced the commencement of its highly anticipated Stock Perpetuals Competition Round 2. Engineered to seamlessly bridge the gap between Traditional Finance (TradFi) and Web3 crypto derivatives, the event showcases Zoomex’s robust derivatives infrastructure while offering global traders 24/7 access to high-demand U.S. equity perpetual contracts backed by a dynamic escalating prize pool and interactive reward tiers.
As global market volatility intensifies, retail and institutional traders increasingly seek frictionless risk-hedging mechanisms outside conventional trading hours. Zoomex addresses this demand through its proprietary derivatives engine, enabling users to trade perpetual contracts on top U.S. equities – including Nvidia (NVDA), Apple (AAPL), and Tesla (TSLA)—using USDT as margin. The platform eliminates traditional brokerage onboarding friction, offering leverage up to 25x and bi-directional (long/short) trading capabilities without market-close interruptions.
Executive Insight: Redefining Cross-Asset Trading
Addressing the strategic vision behind the competition, the Chief Brand Officer of Zoomex stated:
“At Zoomex, derivatives trading is not merely a feature—it is our core identity and structural foundation. Traditional stock markets remain constrained by strict opening hours, lengthy clearing cycles, and cross-border fiat capital controls. By integrating U.S. equities into our high-performance crypto derivatives matching engine, we deliver uninterrupted 24/7 execution, deep liquidity, and institutional-grade price anchoring.”
“Stock Competition Round 2 serves as both a high-stakes arena for top derivatives traders and a live showcase of Zoomex’s matching capacity and zero-slippage risk management. We are committed to establishing the most reliable cross-asset derivative highway in the digital asset industry.”
Institutional-Grade Derivatives: Core Product Pillars
Zoomex’s Stock Perpetuals product suite is specifically tailored for professional trading strategies, offering distinct competitive advantages:
- 24/7 Uninterrupted Market Access: Bypasses standard U.S. stock exchange market-close hours, permitting real-time risk management and position adjustments around global macroeconomic events.
- USDT Unified Collateral Settlement: Eliminates currency conversion friction and international wire delays by enabling capital deployment directly via USDT margin for opening, maintaining, and settling equity positions.
- High-Concurrency Engine & Anti-Wick Oracle System: Powered by Zoomex’s proprietary matching engine capable of handling high throughput during extreme volatility, backed by multi-source oracle pricing to prevent price manipulation and unfair liquidation wicks.
- Flexible Leverage & Bi-Directional Exposure: Supports up to 25x customizable leverage, allowing traders to execute complex long and short strategies across market cycles with maximum capital efficiency.
Stock Competition Round 2: Key Event Mechanics
- Dynamic Prize Pool: Escalates proportionally based on participant volume and cumulative derivative turnover, rewarding both Return on Investment (ROI) and trading volume.
- Trading Volume “Blind Boxes”: Unlocks milestone rewards as trading volume thresholds are met, offering instant USDT cash prizes, fee discount vouchers, and bonus credits.
- Transparent Leaderboard: Real-time rank updates refreshed every 5 minutes, backed by fully audited PnL tracking for absolute competition integrity.
About Zoomex
Founded in 2021, Zoomex is a global crypto trading platform dedicated to delivering an unmatched derivatives experience, serving over 3 million users across 35+ countries and regions. Built for traders who demand speed, clarity, and control, Zoomex seamlessly integrates high-performance execution, intuitive asset tracking, and transparent fee structures. Backed by a robust trust framework—featuring Hacken security audits, Proof of Reserves, and rigorous compliance standards—Zoomex empowers users with a cleaner, smarter, and more efficient trading ecosystem.
Beyond trading, Zoomex elevates the brand experience through high-profile partnerships with the Haas F1 Team, World Cup-winning goalkeeper Emiliano Martínez, and elite tennis tournaments. By bringing the speed, precision, discipline, and uncompromising fairness of world-class sports to the realm of crypto derivatives, Zoomex ensures its vision aligns seamlessly with every trade.
At Zoomex: Trading made simple. Funds made transparent. Profits made accessible.
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Vitalik Buterin has endorsed a plan to rebuild how Ethereum handles simple payments, copying a method Bitcoin has used since 2009. He credited Bitcoin developers for the idea on X.
The endorsement answers a problem Ethereum has carried for years. Every new account makes the network a little heavier to run.
Why Ethereum Keeps Getting Heavier
Thousands of computers worldwide hold a full copy of Ethereum. Those machines are called nodes, and each one stores every account ever created. That record never shrinks. A single account entry costs 100 to 150 bytes and stays there permanently, whether anyone uses it again or not.
Buterin has warned about the buildup before. He spent much of 2026 arguing that Ethereum’s deepest bottlenecks sit in how the network stores data. The side networks built on top are not the main problem.
How Bitcoin’s Design Could Fix It
Ethereum Foundation researcher Toni Wahrstatter published an answer in July. He borrowed the way Bitcoin handles money, counting individual coins instead of running account balances.
Bitcoin calls those coins unspent transaction outputs, or UTXOs. Once someone spends one, almost nothing stays behind, roughly a third of a byte. The outcome shows up at scale. One billion Ethereum accounts would demand up to 150 gigabytes. One billion spent coins would need about 300 megabytes.
Recipients would gain something too. Today they need Ethereum’s token, ETH, in a wallet before money arrives. Under the new model the payment covers its own fee.
Buterin added the second half in January. He proposed letting computers bundle many transaction checks into one compact package, instead of passing a heavy check around for every payment.
Not everyone welcomed the borrowing. Cardano founder Charles Hoskinson accused Ethereum of copying his own network’s coin tracking after the July proposal appeared.
Buterin Praises Bitcoiners and Points Ahead
Developer conall.gwei joined the two ideas. Whoever builds the next block could then publish a single 128 kB summary and settle an enormous batch of payments at once.
Buterin answered him directly.
Utreexo, the Bitcoin project he named, lets computers verify coins without keeping the full list. Buterin wants Ethereum to run both styles at once, so most activity scales up while ordinary people can still run a node. Those compact proofs, known as STARKs, already anchor his Lean Ethereum roadmap plans, which drew pushback over timelines in July. He also called the old tradeoff between speed, security and decentralization technically solved earlier this year.
The foundation keeps shipping changes regardless. It set out its 2026 protocol priorities in February, then swapped core cryptography this month to guard against quantum computers.
Markets have not rewarded the research push so far. ETH trades near $1,903, up 1.28% on the day, and the token has stalled below $2,000 for weeks.
Neither proposal has a launch date. Therefore, the open question is whether the teams that build Ethereum’s software will pick both up.
The post Vitalik Buterin Wants to Copy Bitcoin Design to Hyperscale Ethereum appeared first on BeInCrypto.
“Very unlikely.”
That’s how Goldman Sachs described the chances of a September Federal Reserve interest-rate increase, which provides a potential major tailwind for bitcoin , which has traded in a narrow range since early July.
The cryptocurrency is currently priced around $63,500, a 1% gain since midnight UTC. The price has remained firmly locked within the $62,000–$66,000 range that has been in play for over a month.
Goldman lowered the odds in response to a string of soft economic data, specifically retail sales, a key barometer of consumption, and employment figures alongside slowing inflation, Chief Economist Jan Hatzius told clients, according to Bloomberg.
“Under our baseline economic forecasts, the inflation news is more likely to improve further than to deteriorate anew as the year progresses,” Hatzius wrote in a note Sunday. “We still think market pricing for the funds rate is too hawkish.”
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