Coinbase hits $1B loans, Nike stock tokens reach EU

Today's headlines:

Coinbase hits $1B in crypto loans

Gemini brings Nike and McDonald’s onchain

Standard Chartered dives into spot trading

LA deputies busted in crypto extortion plot

Abacus market vanishes with user funds

Kazakhstan eyes crypto for state wealth

Binance rolls out Pump.fun-style sales

Kinto token tanks 90% in major hack

Hungary’s harsh crypto crackdown begins

Arcadia drained in $2.5M cross-chain attack

 

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Below is a breakdown of everything we covered today – Tuesday July 15, 2025 – from Hungary to Kazakhstan and exit scams to Starbucks. Make sure you tune in again tomorrow on YouTube and X to catch the news as it happens.

Coinbase hits $1B in crypto loans

Coinbase has crossed a major milestone, with over $1 billion in Bitcoin-backed loans issued through its platform. These loans allow crypto holders to borrow cash without selling their Bitcoin, avoiding capital gains tax and holding onto potential future upside.

It’s a sign that Bitcoin is being taken seriously as collateral, not just a speculative asset. Analysts say this is part of a wider shift toward decentralized finance (DeFi) services becoming mainstream, as more people look for alternatives to traditional bank loans.

Gemini brings Nike and McDonald’s onchain

Gemini has expanded its “tokenized stocks” lineup in Europe, offering fractional blockchain-based versions of household-name stocks like McDonald’s, Nike, Starbucks, Coca-Cola, and Yum! Brands. 

This allows EU investors to buy small pieces of big brands without needing a U.S. broker, all onchain and available 24/7.

It’s part of a push to blend crypto and traditional finance, making iconic global brands accessible in entirely new ways – though investors should still watch out for fees and market risks.

Standard Chartered dives into spot trading

Standard Chartered claims to have become the first global bank to launch spot Bitcoin and Ethereum trading for institutional clients. This isn’t about futures or ETFs – it’s direct buying and selling of BTC and ETH.

For everyday listeners, that might sound distant, but it’s a big credibility moment for crypto. When a giant global bank steps into direct crypto markets, it paves the way for more banks, smoother regulations, and potentially, easier access for regular retail investors down the line.

LA deputies busted in crypto extortion plot

LA sheriff’s deputies face prison after helping a crypto extortionist known as 'The Godfather' run his scheme

In a dramatic legal turn, two Los Angeles County sheriff’s deputies have pleaded guilty to helping crypto extortionist Adam Iza, also known as “The Godfather.” Prosecutors say the deputies used their badges to intimidate victims, file fake warrants, and help Iza extort millions, including one victim forced at gunpoint to transfer $25,000.

The case shines a light on the dark intersection of crypto crime and law enforcement corruption. Iza, his former girlfriend, and the deputies now face long prison sentences.

Abacus darknet market vanishes in exit scam

The Abacus Market, a major darknet marketplace operating on Bitcoin, has gone dark in what appears to be a large-scale exit scam. After weeks of user complaints about frozen withdrawals, the platform disappeared, likely taking a chunk of its estimated $300–400 million lifetime sales with it.

The collapse follows similar patterns seen in other darknet markets, where operators vanish with user funds, underscoring the extreme risks of engaging in illegal crypto activity.

Kazakhstan eyes crypto for state wealth

Kazakhstan plans to invest part of its gold reserves and sovereign wealth fund into crypto assets. Photo: Unsplash / Ilyas Dautov

Kazakhstan is stepping onto the global crypto stage, with plans to invest part of its gold reserves and sovereign wealth fund into digital assets. Officials cited examples from Norway, the U.S., and the Middle East, where sovereign funds have dipped into crypto.

Kazakhstan will also build a state crypto reserve using seized assets and state-mined crypto. While the exact investment scale is still unclear, it’s a sign that Central Asia could become a growing player in global crypto markets.

Binance rolls out Pump.fun-style sales

Binance is launching a new “bonding curve” token sale format similar to Pump.fun, where token prices increase dynamically as demand rises, and buy orders stay locked until the event ends. The first event goes live today, requiring BNB and Alpha Points to participate.

This model taps into the booming memecoin trend, giving users a chance to speculate on fast-moving token sales – but with the caveat of price volatility and no-cancel rules during events.

Kinto hit by liquidity-draining exploit

Kinto, a compliance-focused Layer 2 network, saw its token plummet 90% after hackers exploited a vulnerability to mint 110,000 fake tokens and drain major liquidity pools. The exploit, tied to a widespread vulnerability in ERC1967Proxy contracts, affected thousands of projects, but Kinto was one of the hardest hit.

The team is working to restore user balances and aims to relist the token by the end of the month, but the incident has rattled investor confidence.

Hungary’s harsh crypto crackdown begins

Hungary imposes prison sentences for unauthorized crypto trading, leaving local users and companies on edge. Photo: Unsplash / Lukacs

Hungary has introduced tough new criminal penalties for using or running unauthorized crypto exchanges. Individuals can face up to two years in prison for unlicensed trading, rising to eight years for large-scale operations.

The move has thrown the local crypto scene into confusion, with companies awaiting guidance from regulators and some services, like Revolut, halting crypto operations. For the country’s estimated half-million crypto users, the sudden legal risk is raising alarm.

Arcadia Finance suffers $2.5M cross-chain hack

DeFi platform Arcadia Finance was breached for $2.5 million after attackers exploited vulnerabilities in its cross-chain bridge, siphoning funds into Ethereum. The platform has since paused operations and is working with security experts to understand the breach.

The attack highlights the growing risks around cross-chain protocols, which are designed to let users move assets across blockchains but often come with weak points that hackers target.