Crypto Market Faces Growth and Security Challenges Amid Regulatory Changes

Circle has increased its IPO volume to $896 million, with the company's valuation possibly reaching around $8 billion. Sberbank Russia plans to introduce derivatives on Bitcoin and structured bonds. The Monetary Authority of Singapore has given local crypto companies until June 30 to cease services in foreign markets. Circle, the issuer of the stablecoin USDC, has partnered with the Brazilian payment service RedotPay. The total supply of stablecoins has surpassed a historic $250 billion. Canadian firm Belgravia Hartford has started acquiring Bitcoin for its holdings. Strategy has added 705 BTC for $75.1 million at an average price of $106,495 per coin. Major buying activity from Metaplanet includes 1,088 BTC totaling $114 million, bringing their total holdings to 8,888 BTC. Bank of America believes dollar depreciation could bolster Bitcoin positions this summer amid concerns over tariff hikes. Meanwhile, the Whale Ratio (0.47) has hit a 7-month high, potentially signaling an upcoming market correction. On security, the Ethereum update Pectra (EIP-7702) has been linked to numerous hacker attacks and phishing schemes associated with the CrimeEnjoyor script. The Inferno Drainer service was mentioned in connection with the theft of significant customer funds.