Bitcoin Price Dips Below $110,000 Amid Market Correction

South Korea's government and ruling party have reportedly agreed to cap major shareholders in cryptocurrency exchanges at 20%, with narrow exceptions for newly established platforms. The move is pitched as a way to limit concentration of control and reduce systemic risk.

Polymarket shut down a market on nuclear detonation after public outcry and regulatory scrutiny. The move follows insider trading allegations and a wave of foreign bans putting the platform under pressure.

Morgan Stanley has named Coinbase and BNY Mellon to custody and administer its proposed Bitcoin Trust; BNY Mellon will act as administrator, transfer agent and cash custodian. The move pairs a major bank with a leading crypto custodian as Morgan Stanley advances a spot-Bitcoin offering for clients.

Kraken is the first digital-asset firm granted direct access to the Federal Reserve’s primary payments system, enabling direct USD settlement and faster bank-grade transfers. The move marks a milestone in institutional integration and could reduce settlement friction for crypto markets.

STRC’s trading volume spiked after an issuance indicating an approximately 1,000 BTC purchase, the issuer's largest one-day move since July. The action points to aggressive accumulation from Strategy, the largest publicly traded bitcoin holder.