Binance has partnered with Spanish banking giant BBVA to provide independent custody for customer funds, according to the Financial Times. The arrangement allows Binance users to hold assets with BBVA, backed by US Treasurys, which the exchange then accepts as margin for trading. This move is designed to enhance investor protection and reduce counterparty risk, following high-profile industry collapses such as FTX and Binance’s own regulatory hurdles.

The deal marks a significant step toward merging traditional banking safeguards with the crypto ecosystem. Alongside BBVA, Binance has also secured custody partnerships with Switzerland’s Sygnum and FlowBank, but BBVA’s strong brand recognition is expected to inspire greater trust among investors. By involving established banks, Binance aims to restore confidence in centralized crypto platforms and attract more institutional participation.

In a separate update, Binance has launched a service enabling European Economic Area and UK users to convert crypto to fiat and withdraw directly to Mastercard with near-instant availability. This added convenience, combined with secure bank-backed custody, positions Binance as a more robust and user-friendly platform in the evolving digital asset market.

Financial Times

Bitcoin ETF inflows are accelerating the influence of institutional investors on the market, reshaping BTC’s supply dynamics and overall structure. As these ETFs have flooded into the space, many see this wave of institutional participation as an unprecedented shift in Bitcoin’s narrative. But what if this institutional data could be used not just to observe the market, but to outperform bitcoin itself?

Who Really Buys Bitcoin ETFs? Defining ‘Institutional’

The term “institutional” is frequently used as shorthand for ETF buyers, but in reality, these inflows represent a mix of high-net-worth individuals, family offices, and some actual institutional funds. Perhaps only…

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Jack Dorsey’s Block Inc. delivered robust second-quarter results, sending its shares up 6% in after-hours trading on Thursday. The company reported $2.54 billion in gross profit for the quarter, marking a 14% year-on-year jump. In a letter to shareholders, Block raised its 2025 gross profit outlook to $10.17 billion, up from a previous estimate of $9.96 billion. Net income attributable to common stockholders surged to $538.46 million, compared to $195.27 million in the same period last year.

The fintech and digital payments firm, formerly known as Square, remains deeply invested in cryptocurrency operations. Block said it holds bitcoin both as a long-term asset and to support customer transactions. During the quarter, the company added 108 BTC, bringing total holdings to 8,692 BTC by the end of June.

A $212.17 million remeasurement loss on its bitcoin position was recorded in the quarter, reflecting a decline in market value, compared to a $70.12 million gain a year ago. Despite this, Block’s confidence in crypto appears firm, with its bitcoin strategy still central to its growth plans.

Report

Binance has rolled out a new feature enabling European users to instantly convert cryptocurrency into spendable cash through Mastercard-linked debit and credit cards. The service, available across the European Economic Area and the UK, lets customers cash out either directly from their crypto holdings or from existing euro balances in their Binance accounts. Using Mastercard’s Move payment tools, the integration promises near-instant settlements, bypassing the delays of traditional bank transfers.

The new functionality sits within Binance’s “Buy & Sell Crypto” section on both web and mobile platforms. “Sell to Card” allows direct crypto-to-fiat conversion, while “Withdraw to Card” enables transfers from euro balances without extra steps. Currently limited to euro transactions, Binance plans to add other currencies in the coming months, prioritizing regions where instant liquidity is in high demand.

Binance Vice President of Fiat, Thomas Gregory, called the move a step toward “bridging the gap between crypto utility and real-world usability.” The company views this integration as a catalyst for treating digital assets not just as investments, but as everyday financial tools ready for use at checkout.

Source

Bitcoin surged above $117,500 today, recovering from a local bottom of $114,278 just yesterday, according to data from Bitcoin Magazine Pro. The sharp rebound comes after President Donald Trump officially signed a landmark executive order that would allow cryptocurrencies such as Bitcoin to be included in 401(k) retirement accounts.

The order directs the Department of Labor to revisit its current guidance on fiduciary responsibilities in ERISA-governed plans and clarify the appropriate process for offering diversified funds that include alternative investments.

Additionally, the order instructs collaboration between the Department of Labor, the Treasury Department, the…

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Yesterday’s guilty verdict for Roman Storm on the count of conspiracy to operate an unlicensed money service business is absolutely insane. 

FinCEN, the regulator responsible for licensing, monitoring, and enforcement actions concerning criminal activity in money transmission has themselves explicitly stated that self-custodial tooling that facilitates the transmission of value using cryptocurrencies are not money transmitters and are not subject to the relevant regulations.

So how did we get here? Eight months after the election of a president who describes himself as a Bitcoin and cryptocurrency advocate, after the Department of Justice themselves have explicitly stated…

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Parataxis Holdings is set to merge with SilverBox Corp IV, a SPAC, to form a Bitcoin treasury company that plans to go public on the New York Stock Exchange under the ticker PRTX. The move aims to secure up to $640 million to support an aggressive Bitcoin acquisition and holding strategy.

The deal will immediately provide $31 million in equity to purchase Bitcoin, with an additional $240 million expected from SPAC investors, pending shareholder redemptions. Parataxis also signed a share purchase agreement enabling it to issue and sell up to $400 million in equity. Combined, these funds will be used to accelerate the company’s Bitcoin-focused treasury model, echoing the strategy first popularized by MicroStrategy’s Michael Saylor.

Focused on both U.S. and South Korean markets, the company is expanding its global footprint. In June, Parataxis signed a definitive agreement with Bridge Biotherapeutics and Parataxis Korea Fund I LLC to roll out its Korean BTC treasury strategy. With treasury-backed Bitcoin firms now holding nearly $90 billion in assets, Parataxis joins a growing wave of crypto-forward public companies.

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