‍Bybit to Exit Japanese Market Amidst Strict Regulations Bybit, the world's second-largest crypto exchange, will discontinue services for Japanese residents starting in 2026. This decision follows extensive discussions with the Japanese Financial Services Agency (FSA). The exchange will gradually restrict accounts, with users receiving further communication. Bybit previously suspended new registrations in Japan in October 2024.
‍HKGX Launches Asia's First Exchange-Backed Gold Token: $XGZ The Hong Kong Gold Exchange (HKGX) has unveiled $XGZ, Asia's first gold-backed cryptocurrency, through its digital asset initiative, GoldZip. Each $XGZ token is backed 1:1 by one gram of 999.9 fine physical gold, secured in audited vaults and approved by the Hong Kong government. Transactions are recorded on-chain for transparency. Available on Uniswap and MEXC, $XGZ aims to integrate traditional bullion markets with DeFi. The project targets a $300 million physical gold reserve by mid-2026, positioning itself among leading gold-backed tokens. GoldZip operates under Singapore's Ministry of Law (MinLaw) regulations.
‍BlackRock Names Spot Bitcoin ETF a Top Investment Theme for 2025 BlackRock has identified its iShares Bitcoin Trust (IBIT) as a primary investment theme for 2025, placing it alongside U.S. Treasury bills and "Magnificent 7" tech stocks. Despite Bitcoin's price decline from its October peak, IBIT has seen over $25 billion in net inflows this year, ranking it sixth globally among ETFs. This strong performance highlights institutional conviction and signals growing integration of digital assets into mainstream portfolios.
‍Palmer Luckey’s Erebor Valued at $4.3B After $350M Funding Round Erebor, a digital banking venture co-founded by Palmer Luckey and backed by Peter Thiel, has achieved a $4.35 billion post-money valuation. This milestone follows a $350 million funding round led by Lux Capital. The company has secured preliminary conditional approval from the OCC and deposit insurance approval from the FDIC. Erebor aims to address the banking gaps exposed by the SVB collapse, offering stablecoin-friendly and AI-centric banking solutions for tech companies.