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Pudgy Penguins (PENGU) faces pressure amid a surge in interest in NFTs (non-fungible tokens). This move could pull capital away from the trending meme coin, potentially influencing its price. Meanwhile, investors hope for a PENGU ETF (exchange-traded fund) following Canary Capital’s March filing. PENGU Faces New Competition as NFT Tokens Attract Growing Investment Pudgy Penguins meme coin has been the center of attention for months, since Canary Capital filed for a PENGU ETF. Hype around the PENGU meme coin invigorated in late June, following Justin Sun’s move to join the huddle.   Amidst the frenzy and hopes for a PENGU ETF, the token soared, with analysts projecting even more gains. However, the optimism may no longer be sustainable amid renewed interest in NFT tokens. Over the weekend, Ethereum ignited renewed interest in non-fungible tokens, unveiling the NFT Torch ahead of its 10th anniversary. With it came a frenzy of NFT buying, with a single wallet scooping 48 CryptoPunk NFTs for $8.5 million. Analysts also noted an acceleration in the purchases, causing a surge in the CryptoPunk NFT floor price. According to Shotgun, a popular user on X (Twitter), whales are showing conviction with legacy collections outperforming, suggesting the market may be rotating back to quality NFTs. 88 Punks sold in the past 24h, and the floor jumped to 47.75 ETH (~$180K). Here’s what happened ⤸ A single whale swept 45 CryptoPunks (worth ~$7.8M), igniting a 15.9% floor surge from ~40.9 to 47.75 ETH. Add in another 43 organic sales, and we’re looking at 88 total Punks… pic.twitter.com/6UDKWJ9jih — shotgun (@shotguncaio) July 21, 2025 Legacy NFT projects are getting heavy buys and pumps. According to data on Artemis, the NFT sector is already outperforming the broader market, rising by over 200% in the last month. Notably, the NFT sector has more than tripled the Ethereum market. NFT Sector Outperforms Broader Market. Source: Artemis Despite the euphoria around PENGU and Pudgy Penguins NFTs, CryptoPunks are leading the sector in market capitalization metrics. However, on 24-hour sales metrics, BAYC (Bored Ape Yacht Club) and Mutant Ape Yacht Club face stiff competition. NFT Collections. Source: CoinGecko Capital Flows Signal Appetite for Other NFT Projects Beyond PENGU Analysts are looking for PENGU-like opportunities, with ANIME as a prospective choice. Tommy, a trader and popular user on X, highlights ANIME as the best liquid NFT beta after the token bottomed out recently. Thesis on why I took a position in $ANIME. Chart looks close to bottomed out. Its real ATH was 1.8B FDV, sitting at 200M FDV (114M MC). IMO, it’s the best liquid NFT beta currently.$PENGU has been rallying for days while Azuki’s coin hasn’t seen much PA. pic.twitter.com/2grLA3fugt — tommy 🌙 (@CryptoTomYT) July 21, 2025 The interest in the ANIME token may be ascribed to Animecoin’s recent announcement involving a Burger King and Naruto collaboration coming to the US. “Starting July 21, fans can grab a limited-edition King Jr. Meal with exclusive Naruto character toys. American companies are waking up: adopt anime or be left behind,” Animecoin shared in a post. While Animecoin does not have any direct affiliations with either party in the prospective partnership, it may be leveraging Burger King and Naruto to target anime fans. Meanwhile, other analysts have also highlighted DOOD as a possible next PENGU. Despite no ETF prospects for the DOOD coin, which is associated with the Doodles NFT project, analysts say it also has strong fundamentals. “PENGU’s at $2B+ market cap, but DOOD’s $32M FDV is a hidden gem with big upside,” one user said in a post. Notably, both DOOD and PENGU are Solana meme coins. PENGU benefits from the ETF buzz and whale buys. It also has a supply of 76.7 billion. On the other hand, its RSI (Relative Strength Index) above 80 suggests the token may be overbought. Meanwhile, DOOD’s smaller supply of 10 billion could mean bigger price potential, with its RSI suggesting still more room for further upside. PENGU/USDT and DOOD/USDT Price Performances. Source: TradingView “DOOD’s low FDV makes it undervalued vs PENGU. Doodles’ NFT brand has strong vibes. If Doodles drops partnerships or listings, DOOD could 10x from its $300M FDV potential. DOOD’s edge: tiny supply, strong community, & untapped potential. If it follows $PENGU’ IP meta, it’s a moonshot,” the trader added. Another NFT trader highlighted that Doodles NFT outperformed the DOOD token, which could bode well for the meme coin’s price. “Every time it was the token moving and the NFTs following, be it the ANIME coin, PENGU etc.,” they stated. Disclaimer In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated. Read More

ARK Investment Management announced on Monday that it has sold 218,986 shares of Coinbase (COIN), valued at approximately $90.6 million. The firm also disclosed an approximately $175 million investment in shares of Ethereum (ETH) treasury company Bitmine Immersion (BMNR). This latest reduction marks the continuation of a series of COIN sales this month, highlighting significant portfolio adjustments. Cathie Wood’s investment firm announced the reduction on July 21 via a post on X (formerly Twitter). The sales were distributed across Ark’s exchange-traded funds (ETFs).  The Ark Innovation ETF (ARKK) offloaded 174,746 Coinbase shares, the Ark Next Generation Internet ETF (ARKW) sold 27,663 shares, and the Ark Fintech Innovation ETF (ARKF) divested 16,577 shares.  This month, the firm has sold COIN shares every week. On July 1 and 2, ARKW sold 9,116 and 3,067 COIN, respectively. In the second week of July, Ark offloaded a total of 22,223 Coinbase shares, with sales made on July 10 and 11. Similarly, last week the investment company trimmed its COIN exposure by another 43,762 shares. Despite the sell-off, Ark Invest remains one of the top 10 holders of COIN, according to Yahoo Finance data. The latest reduction comes shortly after COIN hit an all-time high (ATH) on July 18. The milestone also allowed Coinbase’s initial public offering (IPO) holders to return to profitability. Meanwhile, amid these sales, COIN took a modest fall. According to Google Finance data, the shares closed at $413.63 yesterday, down 1.47%. However, the price saw a small increase of 0.3% in pre-market trading. Coinbase Share Performance. Source: Google Finance Moreover, future predictions highlight the potential for growth. Cantor Fitzgerald, a major financial services firm, recently raised its price target for COIN to $500, up from $292. “The firm is raising 2026 EPS estimates to $10.76 (from $8.36) due to higher transaction, stablecoin, and blockchain rewards revenue. They now apply a 46.5x PE multiple (up from 35x) reflecting Coinbase’s shift from a cyclical trading platform to critical crypto infrastructure, driven by its stablecoin initiatives and Base layer-2 network. Coinbase’s launch of a crypto “superapp” for payments, social, and trading could further boost growth. Cantor sees more upside ahead and reiterates its Overweight rating,” Walter Bloomberg posted. In parallel, Ark Invest also reduced its positions in other stocks. It sold 109,824 shares of Robinhood (HOOD) worth $11.46 million and 90,061 shares of Block Inc. (XYZ) valued at around $7 million. These moves suggest a strategic reallocation, though the firm did not disclose specific motivations. Concurrently, Ark Invest made a substantial new investment, acquiring 4.4 million shares of Bitmine Immersion Technologies valued at around $175 million. The purchases were spread across ARKK (2,937,432 shares), ARKW (927,898 shares), and ARKF (555,704 shares), Bitmine launched an Ethereum treasury strategy a few weeks ago and appointed Fundstrat founder Tom Lee as the Chairman of the Board of Directors. Moreover, BeInCrypto reported that Peter Thiel-linked Founders Fund also acquired a 9% stake in the firm. “Peter Thiel ~ the man who co-founded PayPal and bet early on Facebook, Palantir, and Bitcoin just made another move. He has taken a 9.1% stake in Bitmine, a treasury vehicle tied to ETH abd Tom Lee…He saw Bitcoin before Wall Street blinked. Now he is going heavy on ETH. He is loading ETH while everyone’s distracted,” an analyst posted. This acquisition aligns with Ark’s focus on innovative blockchain technologies and institutional adoption of cryptocurrencies. The firm also diversified its holdings with smaller purchases, including shares of Advanced Micro Devices Inc. (AMD), DoorDash Inc. (DASH), Deere & Co. (DE), etc, indicating a broad approach to growth sectors. Disclaimer In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated. Read More

Bitcoin price may be holding above $117,500, but under the surface, signs of a potential pullback are mounting. On-chain signals from long-term holders and whale activity are in sync with key price action levels, and if history is any guide, this confluence could trigger a healthy correction in the days ahead. Long-Term Holder SOPR As The Silent Exit Signal The Spent Output Profit Ratio (SOPR) for long-term holders, those holding BTC for more than 155 days, is showing consistent signs of profit-taking. As of July 21, the Long-Term SOPR stood at 1.96, meaning these holders are selling their coins for nearly double their acquisition cost. While that number alone may not sound alarming, context tells the story. For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. Bitcoin price and Long-Term SOPR: CryptoQuant Zooming out on a 1-year chart, SOPR spikes have historically preceded sharp corrections. Consider this: February 9: SOPR hit 5.77, BTC dropped from $96,479 to $84,365: a 12.55% drop June 13: SOPR was 3.47, BTC dipped from $106,108 to $101,003: a 4.81% drop Since July 9, SOPR has seen a series of elevated peaks: 3.90 3.25 3.50 Note: The biggest profit-taking day, per the chart, was July 4. The Long-Term SOPR shot past 24, but surprisingly, Bitcoin price didn’t correct significantly post that. This delayed reaction builds tension and increases the odds of a catch-up correction soon. Whale-to-Exchange Ratio Quietly Climbing Again Another red flag comes from the Whale-to-Exchange Ratio, which tracks how much BTC whales (large holders) are sending to exchanges compared to overall market activity. Bitcoin price and Exchange-Whale Ratio: CryptoQuant Historically, whenever this ratio touches or exceeds the price trendline, a correction tends to follow. Two recent examples: June 28: W2E Ratio = 0.608 BTC = $107,351 A few days later, BTC dropped to $105,727 July 16: W2E Ratio = 0.649 BTC = $118,682 Price has since stalled and shown signs of weakening Exchange-Whale Ratio and Price Correlation: CryptoQuant Put simply: When whales move more coins to exchanges, they’re usually getting ready to sell. With the current W2E Ratio again peaking, it suggests distribution pressure is quietly building, even if spot markets seem calm. Bitcoin Price Structure Relies On Key Support Levels From a price structure standpoint, Bitcoin is currently trading around $117,500, showing signs of indecision. Since July 12, the price has repeatedly tested and respected the $116,456 level, which coincides with the 0.236 Fibonacci retracement of the recent impulse move from $98,230 to the $122,086 high. Bitcoin price analysis: TradingView This zone has become a key battleground; holding above it signals strength, but a confirmed break below would likely open the door to deeper downside. The strongest support lies at $107,343, which marks the 0.618 Fibonacci level; often considered a golden pocket during retracements. If this level fails to hold, the market could enter a steeper correction phase. Since Bitcoin was in price discovery during the run-up to $122,000, there are limited structural supports below this level. In such a case, the next viable support rests near $103,355, a 12% correction from current prices. (February 9’s SOPR surge led to a similar correction.) However, this short-term bearish thesis would be invalidated if the Bitcoin price manages to break above $122,086 and reclaim the previous high near $122,827, while moving higher. A move above this zone, particularly if accompanied by a cooling off in SOPR and a drop in the Whale-to-Exchange Ratio, would point toward renewed bullish momentum. Disclaimer In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated. Read More

Welcome to the Asia Pacific Morning Brief—your essential digest of overnight crypto developments shaping regional markets and global sentiment. Grab a green tea and watch this space. Today: DeFi Development reaches million SOL milestone amid treasury expansion, The Ether Machine plans $220B ETH public debut, and Korean lawmakers advance won stablecoin legislation through internal party seminars. DeFi Development Hits Million SOL Milestone DeFi Development Corp, dubbed the “SOL version of MicroStrategy,” continues its Solana treasury strategy. The NASDAQ-listed firm announced holdings reached 999,999 SOL tokens worth $181 million. Between July 14-20, they purchased 141,383 SOL for $19 million through spot and locked tokens. Additional staking rewards boosted weekly gains by 867 SOL from validator activities. The company operates internal Solana validator nodes generating consistent yield from delegations. They raised $19.2 million through equity facilities with $4.98 billion remaining credit capacity. DeFi Development’s SPS reached 0.0514 SOL per share valued at $9.30. The SOL price surged 8% on Monday, approaching $200 amid expectations of corporate buying. The strategy provides direct Solana exposure while supporting ecosystem growth through validation services. The Ether Machine Plans NASDAQ Debut with Massive ETH Holdings The Ether Machine announced its formation through SPAC merger with Dynamix Corporation Monday. The new entity plans to secure minimum 400,000 ETH by end-2025, worth approximately $220 billion. Trading under ticker ETHM after reverse merger completion, targeting largest public Ethereum holder status. Current leaders include Bitmine Immersion Tech with 300,700 ETH and SharpLink Gaming holding 280,600 ETH. Top 10 entities with ETH reserves. Source: Strategic ETH Reserve The company will be led by former ConsenSys executive David Merin and PayPal board member Jonathan Christodoro. Major investors include Pantera Capital and Kraken exchange, providing over $800 million in funding. The company positions itself as “Ethereum generation company” focused on DeFi strategies and ecosystem development. Merger completion targeted for Q4 2025 with institutional-grade transparent yield generation mechanisms planned. Korean Ruling Party Advances KRW Stablecoin Legislative Push Democratic Party of Korea’s research group held an internal seminar on KRW-denominated stablecoin development Tuesday. The currency of South Korea is the won, abbreviated as KRW. Lawmaker Min Byung-duk, who filed Korea’s first comprehensive digital assets legislation last month, delivered a keynote lecture. Min emphasized protecting monetary sovereignty against dollar stablecoin dominance in global payments. He called KRW stablecoins “last golden opportunity” to capture market share from USD alternatives. Korean Lawmaker Min Byung-duk delivered a keynote lecture at a party seminar. Source: Courtesy of Min Byung-duk. The party plans to establish a dedicated digital assets committee within the National Assembly for systematic policy coordination. Min also indicated to the press after the seminar that Security Token Offering legislation will advance in August after previous delays. The seminar represents growing political momentum for Korea’s digital asset regulatory framework development. Paul Kim and Shigeki Mori Contributed. Disclaimer In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated. Read More

2025-07-22T09:20:40.026+02:00 Tuesday, 22/07/2025 | 07:20 GMT by Damian Chmiel ASIC is suing Fortnum Private Wealth after hackers allegedly stole data from thousands of investors and published it for sale. The watchdog alleges that the company failed to implement adequate cybersecurity measures to protect sensitive client information. Australia’s securities regulator is taking legal action against financial advisory firm Fortnum Private Wealth Limited, alleging the company failed to protect client data that ended up on the dark web. Data of 9,000+ Clients Allegedly Hit Dark Web After Wealth Firm Cyber Failures The Australian Securities and Investments Commission (ASIC) filed suit in New South Wales Supreme Court, claiming more than 9,000 clients had their personal information exposed after a cyberattack on one of Fortnum’s business partners. The breach allegedly involved over 200 gigabytes of sensitive data being stolen and published online. ASIC’s court filing details how Fortnum allegedly left itself and its network of financial advisors vulnerable to cybercriminals between April 2021 and May 2023. The regulator says the Sydney-based wealth management firm didn’t have proper safeguards in place, even as multiple cyber incidents hit its authorized representatives during that period. Joe Longo, the Chairman of ASIC “Fortnum’s alleged failure to adequately manage cybersecurity risks exposed the company, its representatives and their clients to an unacceptable level of risk of a cyber-attack,” ASIC Chair Joe Longo said in a statement. This is yet another case of its kind in recent months. As reported by FinanceMagnates.com in March, ASIC sued FIIG Securities for alleged cybersecurity failures that resulted in a massive data breach, 385 GB of sensitive client data ended up on the dark web. Potential Cyber Policy Gaps The case centers on Fortnum’s handling of cybersecurity after it rolled out what ASIC considers an inadequate policy in April 2021. Court documents show the company’s first cybersecurity framework had significant gaps; it didn’t require advisor firms to actually fix problems they identified in self-assessments, and it allowed them to consult outside IT experts without any oversight from Fortnum. Only 44% of Fortnum’s advisor network completed required cybersecurity self-assessments by the September 2021 deadline, according to ASIC’s filing. Even fewer, just 11%, finished the required attestation forms confirming they’d implemented proper security measures. “ASIC has been highlighting the cybersecurity responsibilities of companies. Australian financial services licensees, in particular, hold a range of sensitive and confidential information,” Longo added. “That is why it is one of our enforcement priorities to act where we see licensees fail to have adequate protections.” You may also like: ASIC Issues Super Scam Alert as $4 Trillion Investment System Targeted What Went Wrong, According to ASIC The regulator alleges Fortnum then abandoned enforcement of even these weak requirements in mid-2022 while developing an updated policy, leaving a 12-month gap with no additional protections. The new policy didn’t launch until May 2023. During this period, several of Fortnum’s authorized representatives suffered cyberattacks. Beyond the major data breach that exposed thousands of client records, incidents included compromised email accounts, phishing attacks, and hackers sending fraudulent messages from advisor email addresses. The court documents reveal attackers accessed sensitive client information including identification documents, tax file numbers, bank account details, and credit card information, exactly the type of data cybercriminals target for identity theft and fraud. ASIC’s lawsuit alleges Fortnum violated multiple provisions of the Corporations Act by failing to provide financial services “efficiently, honestly and fairly” and not maintaining adequate risk management systems. The regulator claims the company didn’t have employees with cybersecurity expertise and failed to hire qualified consultants when developing its policies. The case is scheduled for hearing on August 4, 2025. ASIC is seeking both a formal declaration of wrongdoing and financial penalties against Fortnum. Australia’s securities regulator is taking legal action against financial advisory firm Fortnum Private Wealth Limited, alleging the company failed to protect client data that ended up on the dark web. Data of 9,000+ Clients Allegedly Hit Dark Web After Wealth Firm Cyber Failures The Australian Securities and Investments Commission (ASIC) filed suit in New South Wales Supreme Court, claiming more than 9,000 clients had their personal information exposed after a cyberattack on one of Fortnum’s business partners. The breach allegedly involved over 200 gigabytes of sensitive data being stolen and published online. ASIC’s court filing details how Fortnum allegedly left itself and its network of financial advisors vulnerable to cybercriminals between April 2021 and May 2023. The regulator says the Sydney-based wealth management firm didn’t have proper safeguards in place, even as multiple cyber incidents hit its authorized representatives during that period. Joe Longo, the Chairman of ASIC “Fortnum’s alleged failure to adequately manage cybersecurity risks exposed the company, its representatives and their clients to an unacceptable level of risk of a cyber-attack,” ASIC Chair Joe Longo said in a statement. This is yet another case of its kind in recent months. As reported by FinanceMagnates.com in March, ASIC sued FIIG Securities for alleged cybersecurity failures that resulted in a massive data breach, 385 GB of sensitive client data ended up on the dark web. Potential Cyber Policy Gaps The case centers on Fortnum’s handling of cybersecurity after it rolled out what ASIC considers an inadequate policy in April 2021. Court documents show the company’s first cybersecurity framework had significant gaps; it didn’t require advisor firms to actually fix problems they identified in self-assessments, and it allowed them to consult outside IT experts without any oversight from Fortnum. Only 44% of Fortnum’s advisor network completed required cybersecurity self-assessments by the September 2021 deadline, according to ASIC’s filing. Even fewer, just 11%, finished the required attestation forms confirming they’d implemented proper security measures. “ASIC has been highlighting the cybersecurity responsibilities of companies. Australian financial services licensees, in particular, hold a range of sensitive and confidential information,” Longo added. “That is why it is one of our enforcement priorities to act where we see licensees fail to have adequate protections.” You may also like: ASIC Issues Super Scam Alert as $4 Trillion Investment System Targeted What Went

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