YoungHoon Kim, a South Korean figure who calls himself the “world’s highest IQ record holder,” says he has converted all of his assets into bitcoin.

Kim also predicted that bitcoin will grow at least 100-fold within the next decade, eventually becoming the world’s “ultimate reserve asset.”

Kim made these bold declarations in recent posts on X, identifying himself as both a “Grand Master of Memory” and the person with the highest IQ ever recorded — a claim somewhat disputed by experts. 

“I believe that Bitcoin is the only hope for the future economy. Therefore, I have converted all my assets into Bitcoin,” Kim wrote on X.

At the time of his remarks,…

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Bitcoin Magazine

NY Regulator Adrienne Harris Resigns, Calls for US-UK Crypto Passporting in Final Interview

Adrienne Harris, Superintendent of the New York Department of Financial Services (NYDFS), announced her resignation after four years in the role. 

“It has been a privilege and an honor to serve New Yorkers, delivering positive outcomes for consumers; cementing DFS as a global regulatory leader; and transforming the Department’s operations,” Harris said.

In her final interview, Harris expressed support to Financial Times for the potential US-UK crypto passporting scheme, emphasizing the need for international cooperation in the digital asset space.

Harris highlighted…

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Bitcoin Magazine

The Origin Story of Bitcoin Treasury Companies: Cash Is a Liability

What happens when the safest asset on a company’s balance sheet — cash — becomes its biggest liability?

This isn’t a hypothetical exercise. With bitcoin treasury companies, it has become the central question in corporate finance, forcing a not-so-quiet revolution — from Strategy (NASDAQ: MSTR) to Coinbase (NASDAQ: COIN), Strive (NASDAQ: ASST) and even miners like MARA Holdings (NASDAQ: MARA). The pain of cash melting in corporate hands has given rise to a new and strategic class of public company: a bitcoin treasury company. These aren’t just firms that accept cryptocurrency; they are…

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Solana ETF issuers are racing to update filings as the U.S. crypto market braces for a crucial October. Asset manager 21Shares has revised its S-1 filing, outlining changes to fund structure, staking provisions, and redemption processes—key details aimed at addressing SEC scrutiny.

Several other firms, including Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary, have also submitted amendments in recent days. Around nine Solana ETF applications are currently pending, with updates signaling issuers’ efforts to refine proposals in line with regulatory feedback. The surge in activity suggests growing confidence that approvals may be near.

The SEC is expected to rule on 16 crypto ETF applications this month, covering altcoins such as Solana, XRP, Litecoin, Dogecoin, and Cardano. With the agency recently clearing procedural hurdles and declining to issue delay notices, industry watchers believe October could mark a turning point for crypto ETFs, opening the door for new products and broader investor access.

SEC File

BlackRock’s iShares Bitcoin Trust (IBIT) has officially surpassed Coinbase-owned Deribit to become the largest venue for Bitcoin options trading. Open interest in IBIT options now stands at nearly $38 billion, compared with $32 billion on Deribit, following Friday’s contract expiry. This milestone comes less than a year after IBIT options launched in November, marking a major turning point for crypto markets.

The shift signals a structural transformation as Bitcoin activity moves from offshore, leverage-driven platforms to the regulated core of Wall Street. IBIT, already the world’s largest Bitcoin ETF with $84 billion in assets, is fueling a reinforcing cycle of growth. More liquidity strengthens legitimacy, which draws in fresh institutional inflows. Traders note that Wall Street’s entry is tightening spreads, deepening liquidity, and reducing extreme volatility in the crypto space.

Analysts caution, however, that offshore venues like Deribit will remain central to innovation and higher-risk strategies. Still, the new leadership underscores the growing dominance of traditional finance in shaping the future of Bitcoin.

Bloomberg

BlackRock Inc.’s iShares Bitcoin Trust (IBIT) has surpassed Coinbase Global Inc.’s Deribit platform to become the world’s largest venue for Bitcoin options.

Open interest in options tied to the Nasdaq-listed IBIT reached nearly $38 billion following Friday’s contract expiry, compared with $32 billion on Deribit, per Bloomberg.

Founded in 2016, Deribit had long been the dominant hub for Bitcoin derivatives. In contrast, IBIT only launched options trading in November 2024, making its rapid ascent all the more striking.

In June of this year, IBIT set a new benchmark in the ETF world, surpassing $70 billion in assets under management (AUM) in just 341 trading days — the…

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A Chinese national accused of laundering bitcoin linked to a multi-billion-pound fraud pleaded guilty on the first day of her trial at the Southwark Crown Court in London, England.

Qian Zhimin, also known as Zhang Yadi, 47, admitted to possessing and transferring criminal property under the Proceeds of Crime Act 2002, according to Reuters reporting. She was remanded in custody ahead of sentencing, which is scheduled for a later date.

The case stems from one of the largest cryptocurrency seizures ever, with British police confiscating over 61,000 BTC, currently valued at approximately £5.1 billion ($6.7 billion). 

The funds were allegedly connected to a massive Chinese investment…

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