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The $12.6 million in USDC was likely frozen in connection with an ongoing but unrelated civil court case, according to onchain sleuth ZachXBT.

Former CEO Alex Mashinsky filed documents seeking to vacate his 12-year sentence, which included claims involving FTX and a “hostile takeover” by a former Celsius executive, who was sentenced to time served.

Analysts warn Ether’s downside risks remain elevated as traders closely watch the $1,800 support zone for stability.

The CFTC issued notices affecting platforms seeking to offer cryptocurrency perpetual futures contracts, including a no-action position for Coinbase and approval for Kalshi.

The outage was caused by the same network update software bug that disrupted the protocol on Thursday, which resulted in nearly six hours of downtime.

The exchange’s integration with Deribit gives eligible US institutional investors access to global crypto options and perpetual futures markets.

Bitcoin saw its lowest levels since the middle of April as BTC price action continued ot diverge from thriving US stock markets.

US Treasury Secretary Scott Bessent said the US has seized roughly $1 billion in Iranian crypto assets, double the figure disclosed in late April.

Swan Bitcoin CEO Cory Klippsten said it is important to pay attention to retail sentiment around Bitcoin, as ownership is still far from concentrated and “it’s not like Blackrock owns the Bitcoin.”

Over $500 million in Bitcoin bids now sit near $70,000, while options traders and futures positions converge around the same level.