Demanding Bitmart account founder to explain funding status, Zia calls claims ‘fabricated’
BitMart’s official Chinese-language X account publicly demanded that founder Sheldon Xia explain the location of user funds and create a repayment plan.
It said some users had not been able to withdraw funds and some employees had not received their final salaries or compensation, and threatened Zia that it would continue to submit evidence to regulators, law enforcement, lawyers and the media if he did not provide a verifiable asset disclosure and repayment plan by the deadline.
Zia called the claims “fake rumours” in the post and vowed to counterattack.
“We have collected full evidence of X’s content, all of which are fabricated rumours. During the day US time, we will file a police report and send a lawyer’s letter to X demanding technical and data forensics,” Xia said.
Binance bStocks passes xStocks as the second largest tokenized stock issuer
Binance bStocks has become the second largest tokenized stock issuer, surpassing xStocks in value less than two months after launch.
BStocks reached about $624 million on August 3, surpassing xStocks at about $579 million but trailing Ondo Finance at about $927 million. According to In token terminal data.
The issuer landscape has changed rapidly as the tokenized stock market has grown. A year ago, xStocks led with $40.7 million, followed by Robinhood at $37.2 million, while Ondo had about $65,000. The total value tracked by Token Terminal has grown from around $80 million to around $2.7 billion.
North Korea
Inside the fake crypto startup that fooled North Korean IT workers
Suspicious North Korean IT workers join a fake crypto startup – not realizing their every move is being tracked to extract valuable intel. Cointelegraph came along for the ride.
Suspected DPRK IT workers are pitching for venture capital backing from the fictitious Definitive Communications, which is run by Cointelegraph. Source: any.run
Israel
Israel’s largest bank taps Galaxy to offer Bitcoin, Ether, Solana trading.
Israel’s Bank Leumi will become the first local bank to offer crypto trading after partnering with Galaxy Digital to allow customers to trade Bitcoin, Ether and Solana through the bank’s investment platform in early 2027.
The companies said on Friday that customers of Leumi and Pepper, its mobile banking arm, will be able to buy, hold and sell the three cryptocurrencies through a dedicated section of the Leumi Trade app.
Japan
Metaplanet CEO shuts down Bitcoin sale speculation after $322M transfer
Metaplanet CEO Simon Gerovitch quashed speculation that the Japanese bitcoin treasury company was selling its holdings after it moved 5,014 BTC ($322 million) in a 24-hour period last week.
“This was a routine custody operation. No bitcoins were sold, and our holding remained at 43,000 BTC,” Gerovich said. said.
Metaplanet is the third largest publicly traded Bitcoin treasury company and the largest in Asia. According to Arkham InformationIt is sitting on an unrealized loss of about $1.4 billion.
MUFG PoC to bring Japanese government bond repo transactions on-chain
Four MUFG companies plan to bring Japanese government bond repo transactions on-chain using the Canton network, as part of a new proof-of-concept (PoC).
The companies said they want to improve operational efficiency by automating the transaction lifecycle, enabling real-time intraday settlement 24/7, as well as increasing funding and capital efficiency.
Singapore
Singapore introduces mandatory tax reporting
Singapore has finalized regulations requiring crypto firms to report user transactions to the tax department. The rules implement the OECD’s crypto-asset reporting framework into Singapore’s domestic law and take effect from January 1, 2027 for new users, while existing users can stay until December 31, 2027.
Singapore. Source: Pexels
The Binance and RedotPay stoush heats up
Binance and RedotPay are debating whether to end a Singapore lawsuit related to their nearly $473 million Hong Kong legal battle. Payment card issuer Stablecoin told Cointelegraph that it expects Binance to cease operations in Singapore and seek legal costs.
Binance says that won’t happen and that it is “not abandoning its claims and has informed both the court and Redtop accordingly.”
The plaintiffs previously alleged in a Hong Kong court that RedotPay diverted more than 470,000 Binance Card users by allowing Binance Pay funds to be used for stablecoin card top-ups outside the terms of a commercial agreement.
Meanwhile, RedotPay’s US IPO has reportedly been delayed for regulatory approval.
Korea
Shinhan Asset Management is Plume’s partner with the tokenized fund pilot
South Korea’s Shinhan Asset Management has signed a memorandum of understanding (MOU) with tokenization-focused blockchain network Plume to develop a proof of concept for a Korean one-denominated tokenized fund.
The purpose of the pilot is to test the overseas use of jit-denominated financial products in the onchain market which has largely developed around dollar-denominated assets.
Hong Kong
Hashkey has begun beta distribution of the Hong Kong-controlled HKDAP stablecoin
Standard Chartered-led Anchorpoint Financial has begun rolling out the first regulated Hong Kong dollar-backed stablecoin called HKDAP. HashKey Exchange will be an authorized distributor, potentially expanding access to fiat-backed assets as the region’s stablecoin market takes shape. Retail access will initially be limited with a focus on institutions.
Meanwhile, the Securities and Futures Commission has identified 65 fraudulent websites impersonating hashes.
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