CoinSignals

Large XRP transfers are becoming increasingly active across centralized exchanges, but Binance is no longer the primary destination for whale activity.

Recent data shows that XRP whale outflows are becoming less concentrated on Binance and more distributed across multiple trading platforms.

According to CryptoQuant, the 7 day moving average of the XRP Whale vs Retail Spread across all centralized exchanges rose from 26% on May 6 to 50.9% on June 29.

This represents a sharp increase of 24.9 percentage points.

The data suggests that transactions involving more than 100,000 XRP now account for a significantly larger portion of exchange outflows compared to smaller retail transfers than they did earlier in May.

Whale Activity Expands Beyond Binance

Binance, however, is moving in the opposite direction.

CryptoQuant data shows Binance’s XRP Whale vs Retail Spread dropped from 62% on June 11 to 44.6% on June 29, marking a decline of 17.4 percentage points.

This places Binance 6.3 percentage points below the broader centralized exchange average of 50.9%.

The Whale vs Retail Spread tracks the difference between XRP outflow volumes generated by transfers above 100,000 XRP and those involving 100,000 XRP or less.

Higher readings typically indicate stronger whale activity relative to retail participation.

The widening gap between Binance and the broader market suggests that large XRP holders are increasingly moving funds through other exchanges rather than concentrating activity on Binance.

XRP Faces Continued Price Pressure

XRP remained under pressure throughout June, falling from above $1.30 at the start of the month to around $1.05 at the time of writing.

Although the asset staged a brief recovery in mid June, the rebound quickly lost momentum as selling pressure returned.

XRP also slipped behind BNB and USDC in market capitalization rankings.

With XRP now testing the critical $1.06 support level previously highlighted by analyst Ali Martinez, downside risk remains elevated.

If this support fails, the next major price zones to watch are $0.80, $0.62, and $0.51.

Meanwhile, Glassnode reported that XRP investors are currently realizing more losses than profits, reflecting ongoing weakness in market sentiment.

Despite this, some analysts remain optimistic about XRP’s long term outlook.

EGRAG CRYPTO believes that if XRP follows historical price behavior tied to its “Central Line” pattern, the asset could eventually climb into the $5.70 to $8 range based on gains seen in previous market cycles.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

BNY Mellon, the oldest bank in the United States, has expanded its partnership with Circle to introduce new stablecoin services for institutional clients.

Under this expanded partnership, USDC becomes the first stablecoin supported on BNY Mellon’s Digital Asset Custody platform.

This integration allows institutional clients to store, transfer, mint, and redeem USDC directly through the bank’s custody infrastructure.

BNY Mellon Expands USDC Integration

According to the official announcement, the new arrangement strengthens BNY Mellon’s role as a primary custodian of reserves backing USDC.

Institutional clients using the bank’s digital asset custody platform can now hold USDC in custody wallets and instruct Circle to convert US dollars into USDC.

Clients can also redeem USDC back into US dollars through the token burning process.

Circle said these services are designed to support the full lifecycle of institutional stablecoin activity by connecting traditional banking services with digital asset custody within a single framework.

BNY Mellon stated that these stablecoin capabilities are part of its broader Digital Assets platform, which aims to help institutions manage the growing overlap between traditional finance and blockchain based markets.

By combining custody solutions with cash management services, the bank intends to provide secure access to blockchain networks while maintaining the governance, operational controls, and resilience expected by institutional clients.

The bank also indicated plans to expand support to additional stablecoin issuers and broader digital cash workflows in the future.

Carolyn Weinberg, BNY Mellon’s Chief Product and Innovation Officer, said growing digital asset adoption is increasing demand for infrastructure that works seamlessly across both traditional and blockchain based systems.

She noted that the bank’s enhanced stablecoin capabilities are designed to help institutions move value more efficiently while preserving the scale, trust, and reliability expected from BNY Mellon.

BNY Mellon’s Growing Crypto Presence

BNY Mellon and Circle first partnered in March 2022, when the bank was selected as one of the primary custodians for USDC reserves.

Since then, BNY Mellon has steadily expanded its footprint in digital assets.

Earlier this year, the Wall Street banking giant further strengthened its digital asset custody business through partnerships with Finstreet and ADI Foundation.

These partnerships are focused on building regulated crypto infrastructure within Abu Dhabi Global Market, one of the Middle East’s growing financial hubs for digital assets.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Bitmine Immersion Technologies continues to aggressively expand its Ethereum holdings, adding more than 27,000 ETH over the past week despite a broader market downturn.

The former Bitcoin mining company increased its ETH treasury during a difficult week for Ethereum, as the asset declined by more than 8% and briefly fell to a multi month low near $1,500 before finding support.

Bitmine now holds more than 5.7 million ETH, representing approximately 4.7% of Ethereum’s total circulating supply of 120.7 million tokens.

Bitmine Strengthens Its Ethereum Position

Using an ETH price of $1,570 as of June 28, Bitmine’s combined crypto, cash, and investment holdings are valued at roughly $10 billion.

This further cements the company’s position as the largest corporate holder of Ethereum and the second largest public crypto treasury overall, behind Strategy.

While Strategy recently introduced a new capital management initiative instead of announcing another Bitcoin purchase, Bitmine has remained focused on expanding its Ethereum reserve.

Tom Lee, Bitmine’s chairman and a long time Ethereum supporter, acknowledged the recent market weakness but emphasized that the company’s long term outlook remains firmly bullish.

Lee noted that the past week has been difficult for crypto investors, with ETH falling 8% despite several positive developments for the Ethereum ecosystem.

Among those developments were the launch of Ethlabs and a softer stance from the Bank of England on stablecoins.

Lee also pointed to quarter end portfolio adjustments as a likely factor behind recent selling pressure, as investors often reduce exposure to underperforming assets before reporting periods.

Despite short term volatility, he remains confident that Ethereum will benefit from growing institutional adoption, especially as Wall Street increasingly embraces blockchain based financial infrastructure and AI driven systems built on crypto rails.

Staking Strategy Boosts Revenue Potential

Bitmine’s latest update also revealed that nearly 4.9 million ETH, or more than 85% of its holdings, has been staked through its institutional staking platform, MAVAN.

At a current staking yield of 2.75%, the company expects to generate annualized staking revenue of approximately $211 million.

This staking strategy allows Bitmine to strengthen both treasury growth and long term revenue generation.

SharpLink Returns With Major ETH Purchases

Although Bitmine remains far ahead in total Ethereum accumulation, SharpLink has reentered the market with aggressive buying activity.

After remaining relatively inactive for eight months, the company, chaired by Joe Lubin, resumed buying ETH with several large purchases last week.

SharpLink acquired 5,000 ETH on Friday and continued buying throughout the weekend.

In total, the company spent more than $62 million to purchase 39,196 ETH.

That figure actually exceeds the amount of ETH acquired by Bitmine during the same period, though Bitmine still maintains a significant lead in total holdings.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

A Solana based meme coin named after crypto influencer Ansem has surged to a fully diluted valuation exceeding $108 million. On chain data shows that Ansem’s wallet now holds more than $71 million worth of the token.

Despite the explosive growth, the wallet responsible for deploying the token reportedly made only $5,500 in profit.

Was It a Pre Planned Arrangement?

On chain analytics platform Lookonchain shared details on June 29, revealing that the deployer, identified by wallet tag HCxHB, spent $6,300 to launch The Black Bull (ANSEM).

During deployment, the wallet acquired 792.45 million ANSEM tokens.

Out of that amount, 650 million tokens were transferred directly to Ansem’s wallet at no cost. The deployer then sold the remaining 142.45 million tokens for $11,800, ending with a net profit of just $5,500.

This has raised serious questions about the token’s launch structure and whether it involved a pre arranged promotional deal.

On chain analyst Hupzy said the numbers strongly suggest coordination behind the scenes.

According to Hupzy, more than 80% of the deployer’s token allocation was handed to a single influencer for free, indicating that the launch may have been structured around promotion rather than organic market demand.

The analyst also argued that the deployer’s minimal profit suggests the main objective was likely gaining access to Ansem’s audience rather than making money directly from the token.

Hupzy further warned that ANSEM’s token distribution is highly concentrated and largely controlled by influencers, making the market vulnerable to manipulation.

Rugcheck issued similar warnings, flagging the token for potential market manipulation due to large supply concentration across a small number of wallets.

At the time of writing, CoinGecko data shows ANSEM trading near $0.108.

The token has gained roughly 284% in the past 24 hours and more than 19,000% over the past week. It also reached a new all time high of $0.1212 earlier today.

Trading activity has exploded as well, with 24 hour volume reaching approximately $87.8 million, up 245% from the previous day.

Massive Gains for Early Traders

A Pump.fun ecosystem tracker has been documenting ANSEM’s rise in real time.

The token reportedly became the most traded asset on Pump.fun over the past 24 hours, recording $60 million in trading volume. This far exceeded other trending meme coins such as Jotchua and Fartcoin, which recorded $5.63 million and $3.77 million respectively.

The same tracker noted that Ansem connected his X account to Pump.fun 12 days ago and announced plans to share a portion of creator rewards with followers.

That announcement appears to have generated strong early momentum and attracted traders looking for quick upside.

Lookonchain highlighted one wallet, CCTV, that achieved a remarkable 261x return after turning $2,330 into $614,500 by buying 14.2 million ANSEM tokens early.

Another trader reportedly invested $3,370 when the token’s market cap was around $4 million and later exited with $37,580, securing an 11x return.

Meme Coin Market Still Under Pressure

Crypto analyst Ash Crypto noted on X that ANSEM’s market cap skyrocketed from just $173,000 to nearly $109 million within a single day, representing a surge of roughly 63,000%.

The move stands out even more because it comes during a difficult period for meme coins.

According to CryptoRank, the meme coin sector has lost more than 84% of its total value, falling from a 2024 peak of $135 billion to around $20.74 billion.

This kind of vertical price action has drawn comparisons to other high risk meme coin launches such as SIREN.

In SIREN’s case, whale wallets liquidated 92% of circulating supply, triggering a devastating 95% crash.

Bubblemaps and blockchain investigator ZachXBT had warned about SIREN’s concentrated token supply months before that collapse.

Whether ANSEM follows a similar path remains uncertain.

What is clear from the on chain data is that one wallet controls a significant portion of supply, while the token’s creator earned almost nothing from the launch.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Loopring has announced the immediate shutdown of its decentralized exchange, officially ending all trading services. The platform’s relayer has already been taken offline.

As the first project to launch a zero knowledge rollup on Ethereum, Loopring played an important role in blockchain scaling innovation. However, after years of trying to sustain the platform, the team has decided to shut down operations.

The company confirmed that user funds remain secure and said all balances will be returned directly to users. No action is required from users, and Loopring will cover all transaction fees during the distribution process.

Outdated Technology and Weak Adoption

According to the team, one of the biggest reasons for closing the exchange was its aging technology.

Loopring explained that its original zkRollup design was built without a virtual machine, which significantly limited composability and reduced the range of possible applications. This made it difficult to support broader use cases such as payments and more advanced decentralized finance services.

These limitations slowed ecosystem growth and made it increasingly difficult for the platform to compete with newer blockchain technologies.

The team also acknowledged that while its engineering expertise was strong, business development was a major weakness.

Describing themselves as “engineers at heart, not business operators,” the team admitted they struggled with scaling adoption and building commercial momentum.

Pressure on the project also increased after LRC was delisted from several major exchanges in 2026.

Loopring said it remains proud of pioneering the first zkRollup solution in the market, but believes current realities can no longer be ignored.

The team noted that modern zkEVM solutions now offer much broader functionality by supporting Ethereum smart contracts and improved compatibility across decentralized applications.

Compared to these newer solutions, Loopring’s architecture has become less competitive and increasingly outdated.

Rather than continuing to operate a weakened platform with limited utility, the company decided it was better to shut down the service entirely.

User Fund Distribution Process

Loopring outlined a process to return user assets in the simplest way possible.

Instead of requiring users to go through the original self custody withdrawal system using Merkle proofs, the company will manage the entire distribution process on behalf of users.

Although this approach introduces more centralization, the team said it offers the easiest and most practical experience for users.

Loopring also plans to release a complete list of final account balances in the coming days.

This will include both spot balances and liquidity pool positions, with LP holdings converted into their underlying tokens.

Users will be given a two week review period to verify balances before fund distributions begin.

The 2024 Wallet Hack

Loopring also faced major security challenges in recent years.

In June 2024, attackers stole an estimated $5 million from users of the Loopring wallet who relied exclusively on the platform’s Official Guardian service for account recovery.

The breach was linked to a vulnerability in the system’s two factor authentication process.

This flaw allowed attackers to impersonate wallet owners, bypass recovery protections, and gain unauthorized access to user accounts.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Michael Saylor hinted on X yesterday that a new Bitcoin related announcement was coming today. Many expected another BTC purchase, but the company revealed a different strategy instead.

Despite increasing criticism and rising market uncertainty, Strategy remains committed to Bitcoin. However, its latest move focuses more on financial flexibility and capital management than direct BTC accumulation.

Digital Credit Capital Framework Introduced

Rather than announcing a fresh Bitcoin buy, Saylor revealed that Strategy has launched its Digital Credit Capital Framework.

The initiative is designed to strengthen the company’s credit position, improve liquidity, protect long term Bitcoin exposure, and support sustained value creation.

In his first update, Saylor stated that Strategy has increased its US dollar reserves to $2.55 billion. According to the company, this reserve is sufficient to cover dividend obligations for approximately 17.4 months.

These funds are specifically reserved for dividend and interest payments, and Strategy intends to maintain at least 12 months of coverage at all times.

The company also introduced a Bitcoin Monetization Program, allowing it to sell Bitcoin when needed to support the dollar reserve, cover dividend and interest obligations, or repurchase securities and MSTR shares under approved programs.

The program includes a cap of $1.25 billion in potential Bitcoin sales. If fully utilized, Strategy’s dividend coverage could increase to $3.8 billion, enough to cover roughly 25.9 months of payments.

Strategy has also launched repurchase programs for its Digital Credit securities and up to $1 billion worth of MSTR shares.

According to Saylor, this creates more flexibility for the company to buy back securities during periods of market volatility without relying on its existing dollar reserves.

In addition, the dividend rate for STRC has been raised by 50 basis points to 12%, effective for the July 2026 record date.

Saylor noted that the company will continue reviewing this rate monthly, with the goal of keeping STRC trading within the $99 to $100 range.

This comes after STRC fell roughly 25% below its par value in recent weeks.

Rising Criticism and Market Concerns

Strategy and especially its STRC stock have faced growing scrutiny in recent weeks.

The company sold a small portion of its Bitcoin holdings near the end of May. Although it has added significantly more BTC since then, the sale sparked concern among investors and market analysts.

Critics have continued to question Saylor’s strategy, warning that the company may eventually need to sell more than 50,000 BTC over the next few years to cover operating costs, dividend obligations, or debt related expenses.

Analysts at CryptoQuant have suggested that Strategy should slow or pause additional Bitcoin purchases and prioritize rebuilding its dollar reserves.

While the company has not fully adopted that recommendation, its recent announcements clearly show a stronger focus on liquidity management and reserve strengthening alongside maintaining its Bitcoin holdings.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Historical market cycles suggest Bitcoin’s next major bottom could arrive in the fall of 2026, roughly one year after its peak in October 2025.

Anyone who has spent time in crypto understands that the market often moves in cycles. These cycles have historically been closely tied to Bitcoin’s halving events, which tend to act as major catalysts for bull runs.

While some remain skeptical about how reliable this pattern is, Bitcoin’s historical price behavior continues to follow these cycle structures surprisingly well.

By examining previous cycles, we may be able to identify when the current market downturn could potentially reach its lowest point.

What Previous Cycles Reveal

The first key cycle began after Bitcoin’s 2015 bottom and continued until the 2017 peak. This bullish phase lasted around 1,064 days, though the exact number may vary slightly depending on the data source.

After reaching its peak, Bitcoin entered a bear market that lasted until December 15, 2018. This created a top to bottom decline period of roughly 363 days. While recovery took several more months, the major capitulation low had already formed.

The second cycle started from the December 2018 bottom and continued until Bitcoin’s peak on November 10, 2021. This cycle lasted about 1,062 days, almost identical to the previous one.

Bitcoin then entered another major correction, eventually reaching its bear market bottom on November 21, 2022.

That downturn lasted 376 days, only 13 days longer than the previous cycle. Despite differences in market conditions, macroeconomic pressures, and the size of the crypto industry, the timing remained remarkably consistent.

Now the pattern becomes even more interesting.

From Bitcoin’s 2022 bottom to its peak on October 6, 2025, approximately 1,051 days passed. Once again, this closely matches prior cycle lengths.

Using the historical bear market range of 363 to 376 days from peak to bottom, Bitcoin’s current cycle suggests the next major low could occur between October 4 and October 17, 2026.

A Framework, Not a Forecast

Cycle analysis can offer useful perspective, but it should never be treated as certainty. Historical trends provide context, not guarantees.

Bitcoin’s eventual bottom will depend on several factors, including global liquidity, interest rate policy, ETF inflows, regulation, miner activity, leverage across markets, investor sentiment, and geopolitical developments.

A major macroeconomic shock could accelerate the decline, while strong institutional demand could shorten the correction.

Even so, this historical pattern remains worth monitoring because it offers a practical framework for understanding market timing.

If Bitcoin truly peaked in October 2025, history suggests the market may still need several more months of correction, consolidation, and possible capitulation before a new cycle begins.

For now, one period stands out as especially important for crypto investors to watch closely: October 2026.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

LAB and BEAT posted the steepest losses in the last 24 hours, both falling by double digit percentages.

Bitcoin briefly dropped below $59,000 again yesterday following renewed tensions in the Middle East but has since recovered and is trading near $60,000 at the time of writing.

Most large cap altcoins followed Bitcoin’s movement, though price action remains relatively weak over the past day. Ethereum continues to trade near $1,600, while Solana gained more than 2% and is now changing hands around $73.

Bitcoin Climbs Back to $60K

Bitcoin started the previous trading week on a strong note, surging to $65,500 after a quiet weekend. However, the rally proved short lived and turned out to be a temporary rebound before further losses.

The first decline came quickly, pushing BTC below $62,400. That was only the beginning as bearish momentum continued to build.

The following selloffs were much more aggressive. Bitcoin initially dropped to $59,000, recovered toward $62,000, but failed to maintain momentum and was rejected almost immediately.

The sharpest decline came on Thursday when Bitcoin fell to $58,000, marking its lowest level since before the 2024 US presidential election.

Buyers eventually slowed the selloff, helping Bitcoin recover to $60,000 over the weekend. BTC even climbed to $60,800 before renewed military tensions between the United States and Iran triggered another selloff, sending the asset down to $58,800 on Sunday evening.

Since then, Bitcoin has rebounded to the $60,000 level after both sides signaled a temporary easing of tensions.

Bitcoin’s market capitalization remains under pressure at around $1.2 trillion, while its dominance over the altcoin market stands just below 56%.

PI Drops Despite Pi2Day Celebration

The Pi Network community marked Pi2Day on June 28, one of its most anticipated annual events. Although the project introduced several major updates and new features, the market response was negative.

PI fell by roughly 5%, slipping below $0.12 earlier today before recovering slightly to trade near that level at press time.

Among major altcoins, CC and Worldcoin also posted notable losses, each declining by more than 4%.

Even steeper losses were seen among smaller tokens. LAB plunged 19%, BEAT dropped 11%, and M fell 7.5%.

MemeCore has been hit especially hard, losing nearly 80% of its value over the past week alone.

On the positive side, BinanceLife surged 37%, making it one of the strongest performers of the day, while VELVET climbed 12%.

Most major altcoins remain largely unchanged compared to yesterday. Solana and Bitcoin Cash led gains among large caps, rising more than 2% to around $73 and $197 respectively.

The total cryptocurrency market capitalization has managed to hold above the $2.15 trillion level.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

A shorter trading week still brings several important developments for investors. The US economic calendar is packed with major reports, while markets are also reacting to renewed military tensions in the Middle East.

Crypto markets stayed mostly unchanged over the weekend after suffering steep losses last week, with another $140 billion wiped from the market. At the same time, geopolitical tensions intensified as the United States carried out strikes on Iranian military sites in response to Iran’s drone attack on a commercial vessel.

In traditional finance, market sentiment has weakened significantly. According to the Kobeissi Letter, the Fear and Greed Index has dropped to 24.8, marking its lowest level since early April. This week’s labor market data could play a major role in shaping expectations around the Federal Reserve’s next policy moves.

Economic Events From June 29 to July 3

Markets began the week focused on the renewed military conflict, and crypto has already turned negative as Bitcoin struggles to stay above the $60,000 level.

Key economic reports start on Tuesday with May’s JOLTs Job Openings data and June’s Consumer Confidence report from the Conference Board. Wednesday will bring June’s ISM Manufacturing PMI report, offering a clearer view of industrial performance and business conditions.

The most important release arrives on Thursday with the June Jobs Report. This report is expected to heavily influence interest rate expectations and broader market direction, potentially extending into September. It is also the final employment report the Federal Reserve will review before its July meeting.

Ongoing weakness in the labor market could strengthen concerns about stagflation, where slowing growth and persistent inflation create difficult policy choices. According to BarChart, this raises questions about whether policymakers should prioritize economic growth or focus on controlling inflation.

A stronger than expected jobs report could lead markets to price in higher interest rates, creating more pressure on risk assets such as cryptocurrencies. Current market positioning suggests expectations for weaker numbers, meaning an upside surprise could trigger stronger market reactions.

Crypto Market Outlook

The broader crypto outlook remains weak as negative sentiment continues to grow during this prolonged market downturn. Total market capitalization has dropped to $2.13 trillion, its lowest point since September 2024. Bitcoin remains the main driver of losses as selling pressure continues.

Bitcoin fell 1.5 percent over the past day, dropping to $59,000 during Monday morning trading in Asia before showing a slight recovery. It is now trading near a critical support level. A break below this zone could trigger a sharp decline toward the realized price near $53,000, which has historically acted as a major bear market bottom.

Ethereum is already trading near multi year bear market lows. It continues to struggle to move above $1,570, with price action remaining weak and momentum fading further.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

CoinEx has become one of the most important channels connecting Iran’s crypto market to global digital asset networks, processing billions of dollars in transactions with Iranian exchanges, including significant activity involving sanctioned entities.

According to a recent report from TRM Labs, four major exchanges accounted for approximately $7.7 billion, or 78 percent, of Iran’s estimated $10 billion in crypto activity during 2025.

Despite increasing regulatory scrutiny and enforcement actions, crypto activity in Iran has remained substantial. Founded in 2017 by Haipo Yang, CoinEx operates through entities in multiple jurisdictions and has processed more than $79 billion in trading volume.

The exchange has also faced regulatory challenges in several countries.

CoinEx and Iran’s Expanding Crypto Links

TRM Labs identified CoinEx as the largest external counterparty of Nobitex, Iran’s largest crypto exchange.

Since late 2018, more than $2.7 billion has moved between CoinEx and Nobitex through approximately 6.2 million blockchain transfers, averaging roughly $1 million in daily volume.

Notably, Nobitex has sent about $360 million more to CoinEx than it received, indicating a steady flow of capital from Iran into international crypto markets through the exchange.

Transaction activity between the two platforms grew significantly over the years, rising from around $13 million in 2020 to $575 million in 2021. Although volumes declined in 2022 and 2023, activity recovered strongly to $714 million in 2024 and $763 million in 2025.

At one point, CoinEx accounted for more than 16 percent of Nobitex’s annual transaction activity.

TRM Labs also uncovered direct links between CoinEx and more than 60 Iranian crypto businesses, including Wallex, Ramzinex, BitPin, Aban Tether, Excoino, Bit24, Ompfinex, Sarmayex, and Exir.

The report noted that similar transaction patterns appeared across multiple Iranian exchanges, suggesting a structured and sustained relationship with CoinEx rather than isolated market activity.

Funds Linked to Iran’s Central Bank and Mining Operations

TRM further reported that approximately $67 million linked to Central Bank of Iran reached CoinEx through a complex laundering network between June 2025 and June 2026.

The funds reportedly moved across multiple blockchains using cross chain bridges, Gnosis Safe contracts, and Aave based tokens before eventually reaching the exchange.

TRM also claimed that CoinEx indirectly facilitated these transfers through transaction fee support.

Additionally, ViaBTC, a mining pool operated by CoinEx’s parent company, was found to have close financial links to Iran.

Investigators traced more than $154 million in transactions between ViaBTC and wallets linked to Nobitex, with most of the transfers flowing from the mining pool to Iranian wallets.

Following the 2025 cyberattack on Nobitex, dormant mining wallets transferred roughly $2.7 million to a newly created Nobitex wallet. ViaBTC also appeared within the transaction chain, suggesting mining reserves may have been used to restore liquidity.

Geopolitical Tensions Changed Transaction Behavior

TRM Labs also identified CoinEx exposure to wallets linked to the Islamic Revolutionary Guard Corps, Palestinian Islamic Jihad, Hezbollah, Garantex, Bitzlato, BlackSuit, and Wasabi Wallet.

Transaction patterns shifted noticeably after tensions between the United States, Iran, and Israel escalated in early 2026. Average transaction sizes increased sharply, with larger transfers becoming more frequent.

After sanctions were imposed by Office of Foreign Assets Control on several Iranian exchanges earlier this month, transaction volumes between CoinEx and Iranian entities declined significantly.

However, TRM Labs noted that private exchange accounts could still enable activity beyond public blockchain visibility.

For its part, CoinEx denied any relationship with the Iranian government or sanctioned entities and stated that it has never provided funding or support to such groups.

The company also emphasized that blockchain transaction records alone do not prove involvement in illegal activities.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic