Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

A three-month liquidation heatmap for XRP, highlighted by analyst Steph Is Crypto, shows concentrated leveraged positions above the current XRP price. The heatmap identifies liquidity clusters where leveraged positions would be forced to close if price reached those zones. Because these brighter liquidation bands sit higher than spot, traders are exposed to two main outcomes: a rapid upside squeeze that could accelerate a rally if XRP climbs into those clusters, or strong resistance and potential stall as traders take profits or place counter positions. Community reaction, including comments from Cryptonidas, expresses caution and preference for spot holdings over leveraged exposure. The analyst’s core point: leverage remains stacked above the market, skewing risk toward heightened volatility rather than stability. This observation is a derivatives-structure signal rather than price prediction; it flags areas where price reactions could become more intense if XRP approaches the clusters. Key keywords: XRP, liquidation heatmap, leverage, liquidations, volatility, derivatives.

The CME Group will raise initial margins for COMEX March 2026 silver futures to $25,000 effective December 29, 2025, citing a recent price surge and heightened market risk. The decision increases capital requirements for traders, particularly those with leveraged or large positions, and raises the likelihood of forced liquidations that could add downward pressure to silver prices. Observers link the move to historical CME interventions (notably 1980 and 2011) when margin hikes followed rapid price rises and preceded sharp corrections. Meanwhile, physical demand — especially in Shanghai and other Asian markets — remains strong, with a widening premium for physical silver versus COMEX paper prices, indicating supply stress in the physical market. Traders should expect elevated volatility: margin-related liquidations can accelerate short-term price declines, while persistent physical shortages could sustain upward pressure longer term. Key data points: new initial margin = $25,000 for March 2026 silver futures; effective date = Dec 29, 2025. Primary keywords: CME silver margin hike, COMEX silver, silver futures; secondary keywords: market manipulation, physical silver shortage, margin liquidation.

The U.S. Securities and Exchange Commission issued a landmark no-action letter to the Depository Trust & Clearing Corporation (DTCC) in late December 2025 allowing approved public and private blockchains to be used for settlement and record-keeping of tokenized entitlements to traditional securities. Covered assets include Russell 1000 equities, major ETFs and U.S. Treasuries. The regulatory clearance effectively green-lights on-chain representation of these securities and enables a shift toward T+0 (near-instant) settlement, removing multi-day settlement friction. Real-world asset (RWA) tokenization reached about $19 billion in 2025; analysts forecast potential growth toward $100 billion by late 2026 given the new clarity. Institutional benefits cited include greater collateral velocity and the ability for banks and hedge funds to move tokenized equities and Treasuries across decentralized protocols while remaining compliant with securities law. Market relevance: this decision is framed as the missing institutional bridge for DeFi, likely to attract institutional capital into tokenized assets and increase demand for tokenization infrastructure and settlement rails.

Hyperliquid opened a 10x leveraged long (TOP2) in ZEC with an average entry price of $446.48, accumulating 22,457.57 ZEC tokens valued at roughly $11.5 million. After ZEC broke above $510, the position registered an unrealized profit of about $1.48 million. The same account also holds a separate HYPE long currently showing a floating loss near $2.3 million; netting both exposures leaves an aggregate unrealized loss of approximately $0.76 million. The report highlights the sizable risk and reward dynamics of high-leverage positions on trading desks and underscores the need for strict margin monitoring and risk controls. Key data: entry $446.48, current >$510, position size ~22,457.57 ZEC, position value ~$11.5M, ZEC unrealized gain ~$1.48M, HYPE unrealized loss ~$2.3M, net unrealized loss ~$0.76M.

CoinGecko-sourced data reported by Coinotag shows South Korea’s Upbit exchange saw its 24-hour trading volume fall 35.3% to $9.2787 billion. The ZKP/KRW trading pair led KRW-denominated turnover with an 11.38% share. Other high-liquidity KRW pairs included BTC, XRP, AVNT and ETH, highlighting where liquidity clustered on the exchange. The decline signals shifting liquidity dynamics on a major regional venue and may affect short-term market depth for Korean-won trading pairs.

Hong Kong has opened a public consultation to adopt the OECD’s Crypto-Asset Reporting Framework (CARF) and to update Common Reporting Standard (CRS) rules, aiming to bring centralized crypto exchanges and cross-border crypto transactions into automatic tax-information exchange by 2028 (CARF) and apply updated CRS measures from 2029. More than 70 jurisdictions have committed to CARF as part of OECD/G20 efforts to close reporting gaps for wallets, decentralized platforms and exchanges. Officials, led by Secretary for Financial Services and the Treasury Christopher Hui, said the measures will align Hong Kong with international tax-transparency standards, protect its financial reputation and support its role as a global financial hub. Industry experts (including Calix Liu, Stefano Passarello and Noam Noked) warn CARF will raise compliance costs, especially for smaller firms, and could push some trading activity toward self‑custody and peer‑to‑peer channels if enforcement is strict. Hong Kong’s blockchain sector grew ~250% between 2022–2024 and crypto firms rose ~30% in the same period; the public consultation runs until early 2026. For traders: expect tighter KYC and reporting on centralized exchanges over the medium term, potential liquidity and volume shifts toward non‑custodial venues, and higher compliance costs for exchanges and custodians that may affect spreads and execution. Key SEO keywords: CARF, Hong Kong crypto regulation, crypto tax reporting, CRS, exchange compliance.

Spot Ethereum ETFs in the U.S. recorded heavy outflows in December 2025, with investors withdrawing about $564 million according to SoSoValue. Total USD-denominated assets under management in Ether ETFs fell to $17.86 billion, roughly 37.5% below August 2025 peaks. December is on track to be the second worst month for Ethereum ETFs by net outflows, exceeding prior monthly outflows of $460 million (July 2024) and $408 million (March 2025). November 2025 remains the most severe month with net outflows over $1.42 billion. For context, ETH trades near $2,926 (down ~41% from its all-time high and ~13% YTD). Spot Bitcoin ETFs also experienced significant December outflows (~$804 million), making it the third worst month for spot BTC ETFs; combined with November, spot BTC ETF outflows exceeded $4 billion. Major outflows among Bitcoin products were seen in Grayscale’s GBTC and Fidelity’s FBTC. Key figures: $564M outflow (ETH ETFs, Dec), $17.86B total ETH ETF AUM, 37.5% drop from August highs, ETH price ~$2,926, BTC spot ETF outflows ~$804M (Dec).

South Korea’s top exchanges — Upbit, Bithumb and Coinone — have simultaneously suspended deposits and withdrawals for the FLOW token pending an urgent security review. Announced March 21, 2025, the coordinated halt keeps spot trading active on order books but prevents any token transfers on or off those platforms. The move follows a reported potential vulnerability; exchanges say user balances remain secure. After the announcement, FLOW’s price fell about 7% and FLOW trading volume on the affected Korean exchanges dropped over 60%, while global exchanges and decentralized platforms continue processing FLOW normally. The exchanges’ action aligns with South Korea’s strict Virtual Asset User Protection Act and follows precedents where Korean platforms acted jointly on perceived risks. Security analysts say such suspensions are standard risk-management steps to isolate assets while investigating node software, smart contracts, or deposit-address systems. Traders on the three exchanges face locked assets that may block arbitrage and staking opportunities; exchanges warn users to avoid phishing scams. Resolutions typically range from 48 hours to two weeks depending on issue complexity. Primary keywords: FLOW, South Korea exchanges, deposit withdrawal suspension. Secondary/semantic keywords: security review, Upbit, Bithumb, Coinone, trading volume, price impact.

Bitcoin futures aggregate open interest dropped to $42 billion, an eight-month low, after leveraged longs were liquidated following a failed attempt to reclaim $89,000. Traders saw over $260 million in liquidations and five-day spot-Bitcoin ETF outflows totaling $825 million (around 1% of $116 billion in ETF assets). Despite these signs of reduced institutional leverage, the three-month futures basis remained ~5% (within a neutral 5–10% annualized premium) and the options 30-day delta skew did not show extreme bearishness. Precious metals rallied amid US Treasury yield falls, reflecting risk-off demand. Analysts say the open-interest decline looks like a leverage flush rather than a sustained sell signal; a retest of $85,000 is possible, but broader indicators (basis rate and options pricing) suggest limited downside in the near term. This is market analysis, not investment advice.

OnchainLens tracked a single whale wallet (0xEc7BF1F8D41BaAC2182f37cd128865Cebb96F237) withdrawing a total of 695,783 Chainlink (LINK) tokens — roughly $8.52 million — from Binance over the past 48 hours. The latest transfer was 366,364 LINK (about $4.5M). CoinoTag suggested these moves may reflect portfolio rebalancing or risk management rather than imminent market selling. Traders should watch for follow-up on-chain activity: large inflows back to exchanges could signal near-term selling pressure, while continued exchange outflows or transfers to OTC/cold wallets may indicate longer-term holding or OTC settlement. Key data points: total withdrawal 695,783 LINK (~$8.52M); latest transfer 366,364 LINK (~$4.5M); tracked wallet 0xEc7BF1F8D41BaAC2182f37cd128865Cebb96F237. Primary keywords: Chainlink, LINK, whale withdrawal, Binance, on-chain analytics.

Bitcoin Cash (BCH) outperformed the broader crypto market after a sudden technical breakout pushed the price from a daily low near $590 to an intraday high around $616. CoinGlass data shows short positions on BCH suffered roughly $169,260 in liquidations during a four-hour liquidation imbalance. BCH traded near $610.62 at the time of reporting, up about 1% in 24 hours, while 24-hour volume fell ~15% to $350.8 million. Momentum remains muted: BCH has not exceeded $626 over the past 30 days, though its RSI sits at about 56, indicating neutral-to-bullish technical conditions. Market attention intensified after ShapeShift CEO Erik Voorhees was suspected of moving an old Ethereum wallet and swapping funds into BCH, prompting speculation about renewed confidence. With BCH up ~12% over 30 days versus Cardano’s ~18% decline, BCH is roughly $510 million shy of overtaking ADA in market capitalization. Traders should note the short-squeeze dynamics, low volume on the breakout, and proximity to resistance levels when sizing positions.

Versan Aljarrah of Black Swan Capitalist highlighted comments attributed to an unnamed senior finance executive who said cryptocurrency could underpin a future global reserve system and that new financial technology will surpass Bitcoin by removing friction in payments. The executive reportedly identified XRP, used within RippleNet, as the technology best suited for fast, low-cost cross-border settlement and as a neutral bridge asset for liquidity without pre-funded accounts. The article contrasts Bitcoin’s role as digital gold with structural limits for high-speed settlement (network congestion, fees, throughput) and argues XRP/RippleNet address correspondent banking pain points—trapped capital, slow settlement, and high operational overhead. The piece frames this as a gradual infrastructure shift rather than an immediate replacement of fiat, noting institutional and policy conversations about tokenized liquidity and blockchain settlement layers. Disclaimer: the content is informational and not financial advice.

FLOW (FLOW) fell sharply on OKX, dropping below $0.13 to $0.1268 and recording a 24-hour decline of 27.42%. The report is a market-data update and does not constitute investment advice. No specific catalyst or news item was cited in the report. Traders should note the rapid price move and increased downside momentum, which could signal heightened volatility and potential selling pressure in the short term. Monitor order books, volume, and broader market sentiment for confirmation before acting.

Bitcoin closed Q4 2025 weakly after peaking near $126,200 in October and has since fallen about 30%, trading around $87k at press time. Crypto analyst GugaOnChain highlights a negative Q4 performance (-19.15%) and several capitulation and sentiment indicators pointing to continued downside: SOPR at 0.99 (investors selling at a loss), Short-Term Holder MVRV at 0.87, 35.66% of supply in loss, and the Fear & Greed Index at 20 (“extreme fear”). Market-cap growth rate (30d vs 365d MA gap) is -11.65%, US spot Bitcoin ETFs saw $825.7M net outflows (Dec 18–24), and Coinbase premium gap is -66.11, indicating weaker US demand. GugaOnChain concludes these metrics imply the bear phase could extend into early 2026 for roughly two to three months, with further downside likely until capitulation signals ease and demand normalizes. Traders should note elevated selling pressure, low sentiment, and institutional outflows when sizing positions and managing risk.

Coinglass data, reported by COINOTAG in two updates, highlights concentrated liquidation risk for Ethereum (ETH) at two key price thresholds. The earlier report flagged heavy liquidation clusters near $2,800–$3,000, warning that a fall below $2,800 could imperil about $1.02 billion of long positions while a decisive break above $3,000 could liquidate roughly $843 million of shorts. The later update revised the estimated magnitudes and price bands: a clean break above $3,000 may trigger about $762 million in cumulative short liquidations across major centralized exchanges, while a drop below $2,850 could spark some $630 million in long liquidations. COINOTAG and Coinglass stress that the liquidation charts show relative intensity rather than precise contract counts or exact dollar-for-dollar outcomes; the bars illustrate where leveraged positions cluster and where cascades could amplify intraday volatility. Traders should monitor ETH spot and derivatives order flow, exchange order-book depth, open interest and funding rates around these thresholds, and adjust position sizing, stop-losses and hedge strategies accordingly to manage abrupt directional moves.

Analyst PlanB has flagged a pronounced decoupling of Bitcoin from traditional assets, noting reduced correlation with the S&P 500 and gold. Using correlation coefficients, historical pattern recognition and statistical tests, PlanB says the current divergence resembles past periods when Bitcoin traded below $1,000 — a phase that preceded a greater-than-10x price surge. He cautions that correlation breaks are unpredictable and does not guarantee a repeat outcome. The article notes structural differences today: active institutional participation (including spot BTC ETFs), deeper derivatives and liquidity, MiCA and other regulatory developments, and broader global market influences. Experts quoted say decoupling can signal market maturation and improved diversification benefits, but stress the need to distinguish temporary deviations from structural change. Traders should therefore watch correlation metrics, trading volumes, liquidity distribution and volatility, while recognising that macro conditions (rates, geopolitics) and regulatory clarity will shape whether the pattern leads to sustained bullish momentum or remains a transient anomaly.

Dogecoin (DOGE) has shown increased volatility and selling pressure, sliding below the key $0.13 level as large holders reassess positions and spot-market sales rise alongside futures activity. Traders are seeing reduced conviction in DOGE following a post-election rally, with supply remaining high and limited on-chain utility cited as a concern. Meanwhile, Mutuum Finance (MUTM) — currently in a presale — reports strong inflows: more than $19.5 million raised, about 18,580 new holders, and recent token price movement from $0.035 toward $0.04 ahead of a planned launch price of $0.06. The project emphasizes DeFi utility (dual-market lending, peer-to-contract and peer-to-peer loans), audited smart contracts (Halborn Security), fiat on-ramp via card purchases, and community incentives (daily leaderboard rewards). For traders, the story highlights capital rotation from meme assets like DOGE into early-stage DeFi tokens such as MUTM, creating short-term selling pressure on DOGE and speculative demand for presale tokens. Key data points: DOGE < $0.13, MUTM presale proceeds > $19.5M, ~18,580 holders, token phases moving from $0.035 to $0.04 with a target launch price $0.06.

Pantera Capital research analyst Jay Yu published twelve predictions for crypto in 2026, forecasting a shift from speculation to utility driven by AI, specialized markets, improved capital efficiency, and stablecoin payment rails. Key forecasts: capital-efficient on-chain credit that reduces over-collateralization; a bifurcation of prediction markets into high-stakes financial and cultural segments; widespread agent commerce (autonomous AI agents transacting via crypto wallets); AI becoming the primary user interface for crypto; tokenized gold emerging as a major real-world asset (RWA); heightened discussion around quantum risks to Bitcoin but limited near-term threat; corporate consolidation of Bitcoin treasuries around a few dominant holders; blurring of tokens and stocks with security- and revenue-sharing tokens; hyper-liquid perpetual decentralized exchanges via deeper cross-chain liquidity and better oracles; and stablecoins evolving into global payment infrastructure. The analysis emphasizes regulatory clarity (e.g., EU MiCA) as a catalyst for tokenized securities and notes potential large unlocks of capital if capital-efficiency primitives and tokenized RWAs scale. The piece frames these trends as likely bullish for crypto utility and adoption while urging caution—forecasts are speculative and not trading advice.

DOGEBALL, Ethereum (ETH) and Cardano (ADA) are presented as contrasting staking propositions for 2026. DOGEBALL — a gaming-focused token launching via presale — is marketing aggressive incentives: Stage 1 presale price $0.0003, confirmed launch price $0.015, four-month presale through 2 May 2026, and advertised 80% staking rewards during presale. The project claims an ETH Layer‑2 custom chain, near-zero fees, an on‑chain explorer, and a partnership with gaming firm Falcon Interactive. Promoted utility includes a dodgeball game with a $1 million prize pool paid in $DOGEBALL tokens. Example ROI figures in the press release show a $1,000 Stage 1 allocation potentially rising to $50,000 at launch price and over $3.3 million at a modeled $1 post‑launch price. The piece contrasts DOGEBALL’s high-risk, high-reward presale narrative with Ethereum’s stable, lower‑volatility staking after its PoS transition and Cardano’s modest, sustainability‑focused staking yields. The article is a paid promotional post and includes a disclaimer; readers are reminded this is not financial advice.

A Solana co‑founder published a 2026 outlook highlighting three core themes likely to shape crypto and tech markets: a stablecoin market cap exceeding $1 trillion, continued long timelines and risks for frontier technologies (quantum computing and controlled nuclear fusion), and rapid AI progress including a speculative breakthrough that could solve a “millennium” mathematics problem. The note also forecasts commercial shipments of roughly 100,000 humanoid robots. For crypto markets, the post signals sustained demand and liquidity for stablecoins across on‑chain rails, potential shifts in asset correlations and funding flows, and implications for Solana network throughput and outage risk. Traders should monitor regulatory developments for stablecoins, on‑chain stablecoin flows and funding rates, Solana network performance (throughput and outages), and macro drivers that affect stablecoin adoption. This outlook is opinion‑based market commentary and not investment advice.

Bitcoin (BTC) failed in another breakout attempt at the $90,000 level, briefly topping near $90.4K before a fast rejection that pushed the price down about $3,000 in minutes to around $86.5K; BTC later recovered modestly and trades slightly lower on the day, with market cap under $1.75 trillion and dominance near 57.5%. Major large-cap altcoins largely mirrored BTC’s moves: Ethereum (ETH) rejected below $3,000 and retreated toward the $2,900 support, while XRP slid to roughly $1.85. Among altcoins, Zcash (ZEC) led gains — spiking over 13% to trade above $500 — and RAIN also rose around 10% to near $0.008. Total crypto market capitalization remains above $3 trillion despite a roughly $40 billion pullback since yesterday’s peak. Key takeaways for traders: BTC faces strong resistance at $90K — repeated rejections increase short-term volatility and downside risk; traders should watch BTC’s $86.5K–$87K support zone and ETH’s $2,900 level for potential stability; altcoin momentum (notably ZEC and RAIN) may offer short-term trading opportunities but could reverse if BTC weakness persists.

China’s Cyberspace Administration published draft rules that significantly tighten oversight of human‑like AI systems. Key measures require providers to notify users at first login and every two hours that they are interacting with an AI, and to warn users when excessive reliance is detected. Firms must complete prelaunch security and ethics assessments, report services to provincial internet regulators, and file additional notices once a service reaches 1 million registered users or 100,000 monthly active users. Outputs and training data must align with “core socialist values,” block content deemed a threat to national security or social order, and meet standards of truthfulness and objectivity. The draft is open for public comment until Jan. 25. Beijing frames the move as balancing rapid AI innovation with social stability and an ambition to shape global AI governance; critics say it extends existing censorship to AI and tightens political control. For crypto traders, the rules reinforce China’s control over AI infrastructure and data used for market analysis, sentiment models, on‑chain monitoring and trading tools. Expect potential changes to product features from China‑exposed AI firms, restrictions on data flows and partnerships, and heightened compliance costs — factors that could affect investor sentiment and trading strategies involving companies linked to the Chinese market.

Dogecoin (DOGE) fell to its lowest level since Oct. 10, trading around $0.1227 and roughly 75% below its year-high, as investor demand wanes and technical indicators flash further risk. Grayscale and Bitwise DOGE ETFs have recorded no inflows since Dec. 11, leaving combined inflows at about $2 million and net assets near $5 million. Futures open interest has plunged from over $6 billion YTD to about $1.4 billion, signalling reduced leverage and participation. On the three-day chart DOGE shows multiple bearish patterns: a death cross (50- and 200-period EMAs crossed on Dec. 9) and a confirmed head-and-shoulders with a head at $0.4855 and shoulders at $0.2285 and $0.30, breaking below the neckline. Momentum indicators (RSI, MACD) are declining. Technical support sits near $0.08 (Aug low) — about 35% below current levels — while a move above $0.15 would negate the immediate bearish outlook. Key takeaways for traders: weakening ETF flows and collapsing open interest reduce liquidity and buying pressure; established bearish chart structures increase the probability of further downside in the near term; watch $0.08 support and $0.15 resistance for trade planning.

A Fidelity macro strategist warned that Bitcoin may experience a significant pause in price gains in 2026, describing the potential scenario as Bitcoin taking a “year off.” The analyst flagged macroeconomic factors and cycle dynamics that could slow momentum after previous rallies. While the commentary did not provide precise price targets or timelines beyond the 2026 observation, it highlighted the risk of an extended consolidation or muted performance that would affect trader strategies. The note underscores the importance of monitoring macro indicators, market liquidity, and investor positioning ahead of 2026 events. Primary keywords: Bitcoin, Fidelity, macro analyst. Secondary keywords: consolidation, market cycle, 2026, trading strategy.

Dogecoin futures traders committed roughly 12.14 billion DOGE (about $1.49 billion) to the derivatives market within 24 hours as open interest rose 1.32%, according to CoinGlass. The on-chain price performance remains weak: DOGE is down about 16.2% in December and has lost its 2025 gains. Binance and Gate.io account for the largest shares of the increased open interest, suggesting exchange-driven derivatives activity. While the jump in open interest signals renewed short-term trader interest and bullish positioning in futures, the spot price momentum is still bearish, reflecting low investor confidence. Key metrics: 12.14B DOGE committed (~$1.49B), open interest +1.32% (24h), DOGE -16.2% in December. Traders should watch open interest trends on major exchanges and price support levels to assess whether derivatives flows precede a spot recovery or merely reflect short-term speculation.

Binance Alpha has listed a new token, COLLECT, and published its smart contract address (0x4b3d30992f003c8167699735f5ab2831b2a087d3). The announcement is brief and aimed at informing traders and users of the listing; no additional tokenomics, team details, or market parameters were provided. The listing appears on Binance’s Alpha environment, signaling an initial or experimental stage before broader exchange listing. Traders should verify the contract address and exercise caution until further details (liquidity, pairings, audits) are confirmed. Primary keywords: Binance Alpha, COLLECT, token listing, contract address. Secondary/semantic keywords: BSC, smart contract, liquidity, token audit, tokenomics.

Farside Monitoring reports a cumulative $589.4 million in net outflows from the US spot Bitcoin ETF complex this week. Major withdrawals were recorded at IBIT ($242.7M) and FBTC ($110.7M), followed by GBTC ($72.8M), BITB ($54M), HODL ($41.6M), ARKB ($31.3M) and Grayscale BTC ($31.2M); EZBC saw $5.1M in outflows. The sequential redemptions indicate investors are reducing exposure to Bitcoin-tracking products amid a volatile macro environment. Traders should watch weekly ETF flow data as a near-term proxy for investor demand in Bitcoin spot ETFs and potential short-term price pressure.

Crypto researcher SMQKE argues that XRP’s recent price rally reflects utility-driven demand rather than speculation. Key points: XRP was built as a payment-network token with a fixed supply of 100 billion tokens and no protocol issuance mechanism. Network design requires small transaction fees (burned) and minimum reserves for accounts, which both discourage spam and create baseline demand. XRP also functions as a bridge currency for rapid cross-border fiat conversions, reducing the need for pre-funded accounts and improving settlement efficiency. SMQKE says Ripple’s business model expects adoption by banks and payment providers to raise organic demand for XRP through increased transaction volume and liquidity needs. The article frames price appreciation as a product of practical use, network security functions, and adoption growth rather than hype. Disclaimer: not financial advice.

The FBI has named Sim Hyon‑sop (also reported as Sim Ali/Sim Hajim) as a wanted alleged cryptocurrency money launderer for North Korea and announced a $7 million reward for information leading to his arrest. U.S. authorities accuse Sim of facilitating laundering of stolen digital assets and converting crypto into cash to help the Kim Jong‑un regime evade sanctions. According to investigators and a North Korean defector, Sim operated abroad — notably in Kuwait and the UAE — as a senior Foreign Trade Bank affiliate, using shell companies, brokers and multi‑wallet transfers to obscure funds. Reported activity includes processing hundreds of transactions through major banks (claims cite over 310 transactions worth $74 million) and purchases of sanctioned or dual‑use items (raw materials for counterfeit cigarettes, communications gear, helicopters). The UAE revoked his residency in 2019; U.S. Treasury suggests he may have traveled to Dandong, China after expulsion. Sim faces charges including conspiracy to commit bank fraud, money laundering and sanctions evasion. The case highlights continued state‑linked North Korean use of crypto theft and complex laundering chains to monetize stolen digital assets, drawing scrutiny on correspondent banking flows and on‑ramps/off‑ramps used to convert crypto to fiat.