Evening Wrap: Bitmine Reaches 6M ETH; US Sanctions Cambodian Scam Networks

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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.

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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 after the firm allegedly laundered $4 billion in illicit funds.

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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.

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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.

The numbers

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

What to 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.

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