Do you feel the scent of freedom in the air? It's Friday, our favorite day of the week. Mix yourself a cocktail and read our digest of noteworthy crypto news.
First, let's see which coins won and lost this week.
Top Gainers and Losers
- Aerodrom Finance has shown a good result, jumping by 40.15% and reaching a price of $0.8725.
- Kaia advanced 27.87% over the week, now trading at $0.1979.
- Sei rose by 22.04% as its price climbed to $0.2134.
- Story took a step back this week, slipping 21.59% to $2.78.
- Four edged down by 10.75% to land at $2.43.
- Aave saw a retreat of 8.78% and reached a price of $260.39.
Meme of The Week
Invesco and Galaxy Digital are promoting a Solana ETF to the SEC
Invesco, a leading investment management firm, and Galaxy Digital, a global crypto-focused financial services firm, have registered a trust in Delaware for a Solana exchange-traded fund (ETF). The fund was named "Invesco Galaxy Solana Trust."
An ETF allows people to invest in Solana without having to buy the actual crypto or use a crypto exchange. For now, only Bitcoin and Ethereum ETFs are permitted under U.S. regulations. In fact, the launch of the Bitcoin ETF in the USA was one of the factors that pushed Bitcoin’s price to $100,000.
Galaxy and Invesco already manage a spot Bitcoin ETF under the name BTCO. They decided to pursue a Solana product due to growing interest in altcoin investments.
The fund registration is the first step for launching a Solana exchange-traded fund in the U.S. It doesn't guarantee a listing but lets firms proceed with regulatory filings. The next step for Invesco and Galaxy would be to submit the ETF application to the U.S. Securities and Exchange Commission (SEC) and wait for a response during the usual 240-day review period.
Beyond Invesco and Galaxy Digital, other firms, including Grayscale, VanEck, Bitwise, 21Shares, Canary Capital, Franklin Templeton, and Fidelity, have filed Solana ETFs in recent months.
Bloomberg ETF analysts Eric Balchunas and James Seyffart estimate a 90% chance of approval for Solana and Litecoin ETFs this year. XRP ETFs follow closely with approval odds of roughly 85%.
Israeli Hackers Breached the Iranian Exchange Nobitex for over $81M
Onchain investigator ZachXBT published a Telegram post about attackers exploiting the Iranian crypto exchange's wallets for more than $81 million. The stolen assets were in the Tron, Bitcoin, Doge networks, and EVM-compatible blockchains.
The hackers transferred the stolen funds to the vanity addresses. "Vanity address" is a personalized cryptocurrency address that can be chosen by the owner. So, threat actors wanted to be spotted and revealed.
The first $49 million was stolen through the address "TKFuckiRGCTerroristsNoBiTEXy2r7mNX." The second address used was "0xffFFfFFffFFffFfFffFFfFfFfFFFFfFfFFFFDead," according to Tronscan.
Nobitex's team detected signs of unauthorized access to its hot wallets and suspended them immediately.
"Users' assets are completely secure according to cold storage standards, and the above incident only affected a portion of the assets in hot wallets. All damages will be compensated through the insurance fund and Nobitex resources," Nobitex said in the X post.
A pro-Israel hacker group calling itself "Gonjeshke Darande" has claimed responsibility for the Nobitex hack. In a post on X, the group stated that it would publicly release the exchange's source code and internal files within 24 hours. Any remaining assets on the platform "will be at risk."
The hack on the exchange comes amid the fifth day of renewed conflict between Israel and Iran.
Coinbase Announces Credit Card with 4% BTC Back on Everything
Coinbase, in partnership with American Express, is launching its first-ever branded credit card, Coinbase One Card. Its rollout is planned for this fall. It will pay 2% to 4% cash back in Bitcoin on everyday purchases and give access to American Express perks.
The card will be available only to U.S. members of Coinbase One, a monthly subscription service with enhanced features.
The exchange already offered a prepaid debit card with Visa in 2020, which allowed users to pay only with their own crypto. Now, people will be able to make payments using crypto credit and receive rewards in return. Besides these, the company also works on its Base developer platform and a self-custody wallet.
Coinbase One subscription costs $29.99/month and offers zero trading fees, enhanced account protection, boosted USDC, and staking rewards. Users can also expect a more affordable version, Coinbase Basic, for $4.99/month or $49.99/year with fewer features.
Malaysia Launches Digital Asset Hub to Test Stablecoin and Programmable Money
Malaysia presents a regulatory sandbox, the Digital Asset Innovation Hub. It will focus on programmable payments and stablecoins backed by the local currency, the ringgit. Fintech and digital asset firms will use it as a platform to test new technologies under the oversight of the country's central bank.
Prime Minister Anwar Ibrahim announced the initiative at the Sasana Symposium 2025 in Kuala Lumpur. He described the hub as the "beginning of a new chapter" for Malaysia's digital economy.
"Our ambition is clear — to align infrastructure, policy, and talent across both the public and private sectors in pursuit of a digitally capable, future-ready Malaysia," said Anwar.
During the event, the governor of the Central Bank of Malaysia, Abdul Rasheed Ghaffour, said the country needs to modernize its financial infrastructure to remain relevant in a rapidly evolving ecosystem.
Malaysia's creation of a Digital Hub can be seen as an attempt to strengthen its regional position in Southeast Asia. This move comes as Singapore, once part of Malaysia, tightens its crypto regulations. On May 30, the Monetary Authority of Singapore announced that firms or individuals providing overseas digital token services must stop operations if they don't have the necessary licenses.
Gunel Ismayilova
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