Bitmine Reaches 6M ETH; US Sanctions Cambodian Scam Networks

Bitmine expanded its balance sheet to hold nearly 5% of the total Ethereum supply, while US and UK authorities severed a major Cambodian conglomerate from western financial markets over money laundering allegations.

1. Bitmine ETH Treasury Hits 6.03M Tokens and $12.9B Staked The firm accumulated 6.02 million $ETH, representing 4.9% of the circulating supply. Bitmine staked over 5 million tokens to generate $336 million in annualized yield, pushing its total corporate holdings to $16.2 billion.

2. US and UK Authorities Sanction Prince Group Over Cyber Fraud Treasury officials targeted 146 Prince Group entities, while FinCEN banned Huione Group from the US banking system. Huione allegedly laundered $4 billion in illicit funds between August 2021 and January 2025. Americans lost an estimated $10 billion to Southeast Asian scams in 2024.

3. ArbitrumDAO Considers 100M ARB Allocation for Paxos USDG Entropy Advisors pitched an initiative to integrate the Paxos-issued USDG stablecoin. The proposal would convert network fees into USDG to create non-volatile revenue for the DAO, backed by a 100 million $ARB budget increase.

4. Fibank Integrates Bitpanda to Launch Crypto Trading in Bulgaria The Bulgarian lender added retail digital asset services to its mobile app through a Bitpanda partnership, allowing over one million clients to trade crypto starting at one euro.

Numbers Total market capitalization fell 0.6% to $2.76 trillion, while $BTC dropped to $82,965 and $ETH settled at $2,517.

Watch

• Bitmine's accumulation filings to see if the firm reaches its stated target of holding 5% of the total Ethereum supply.
• Onchain voting by ArbitrumDAO delegates on the proposed 100 million ARB transfer for the USDG stablecoin integration.
• Developments in the Eastern District of New York regarding the unsealed US indictment against Chen Zhi.