Financial Giants Go Crypto: From NYSE to Iran’s $500M Bet

Traditional finance is making serious moves into crypto. The New York Stock Exchange is building 24/7 tokenized stock trading. Iran just bought over $500 million in USDT to support its currency. And institutional investors are calling Bitcoin undervalued at current prices. Meanwhile, hackers stole over $23 million across two separate attacks, and Tether burned $3 billion USDT in a single day. Here’s a clear look at the most important crypto and tech stories making headlines.

Iranian Bank Purchases Over $500 Million in USDT

An Iranian bank acquired over $500 million worth of USDT stablecoins, likely to support the national currency amid ongoing international sanctions. The purchase is among the largest known government-linked stablecoin acquisitions.

When a country’s banking system starts buying hundreds of millions in stablecoins, it’s not speculation. It’s a sign that traditional currency systems are breaking down and institutions need alternatives that work across borders without permission.

NYSE Plans 24/7 Trading of Tokenized US Stocks

The New York Stock Exchange announced plans to transition to 24/7 trading of tokenized U.S. stocks. The move would eliminate traditional market hours and allow round-the-clock trading of securities.

This is massive. The largest stock exchange in the world adopting blockchain technology and continuous trading means the line between traditional and crypto markets is disappearing. When the NYSE goes 24/7, they’re admitting that crypto’s always-on model works better than century-old trading schedules.

Tether Burns $3 Billion USDT After Minting $1 Billion

Tether burned 3 billion USDT today after previously printing 1 billion tokens. The net reduction of 2 billion USDT represents significant supply management in the stablecoin market.

Large burns like this typically signal reduced demand or strategic supply adjustments. When the largest stablecoin issuer removes billions from circulation, it affects liquidity across every exchange and trading pair that uses USDT.

SwapNet Hacked for $16.8 Million

The protocol SwapNet was hacked for $16.8 million, with users who disabled one-time transaction confirmations at particular risk. The attack exploited security settings that users had turned off for convenience.

This hack proves that even small security shortcuts have expensive consequences. Users who skipped one-time confirmations to save a few seconds lost everything. Convenience always trades off with security in crypto.

Spot Bitcoin ETFs Record $1.33 Billion Net Outflow

Following a week of trading, spot Bitcoin ETFs recorded a net outflow of $1.33 billion. The significant withdrawal suggests institutional investors are taking profits or reallocating assets after Bitcoin’s recent price movements.

When over a billion dollars leaves Bitcoin ETFs in one week, it’s not noise. It’s institutions voting with their money. Whether they’re taking profits or moving to other assets, this kind of outflow can signal changing sentiment among the biggest players.

70% of Institutional Investors Say Bitcoin Is Undervalued

A Coinbase survey found that 70% of institutional investors believe Bitcoin is undervalued in the $85,000 to $95,000 range. The survey reveals strong institutional conviction despite recent price volatility.

When seven out of ten institutional investors think Bitcoin is cheap at current prices, they’re either right and about to buy more, or wrong and about to learn an expensive lesson. Either way, this level of conviction from large money managers matters for where prices go next.

Ethereum Gas Fees Drop to Historic Low of $0.15

The average gas fee in the Ethereum network dropped to a historic low of around $0.15 per transaction. The reduction makes Ethereum significantly more affordable for everyday users and small transactions.

Gas fees at 15 cents mean Ethereum is finally usable for normal transactions without spending more on fees than the transaction itself. This is what Ethereum needed to compete with newer chains that have always been cheaper.

Russia’s First Crypto Alimony Case Settles 1.7M Rubles

The first alimony collection in Russia using digital assets occurred, with a court ordering a debtor to settle a debt of 1.7 million rubles (approximately $18,000) by selling digital assets. The case sets legal precedent for treating crypto as attachable assets.

When courts start forcing people to sell crypto to pay debts, it means crypto is officially recognized as a real asset under the law. This precedent makes it harder to hide money in crypto and easier for creditors to collect.

Saga Blockchain Halts After $7 Million Smart Contract Hack

The layer-1 blockchain Saga halted its SagaEVM network following a $7 million smart contract hack. The team paused the network to investigate and prevent further losses.

Another week, another DeFi hack. Saga had to shut down their entire network because of a smart contract vulnerability. When blockchains have to halt operations to stop hackers, it raises serious questions about whether they’re decentralized at all.

CertiK Plans US IPO

CertiK, the largest blockchain auditor, plans to conduct an initial public offering in the United States. The move would make CertiK one of the first major crypto security companies to go public.

The company that audits smart contracts going public means crypto infrastructure is mature enough for Wall Street. When security auditors IPO, it signals that the industry has enough demand and stability to support traditional public companies.

About Paybis

Paybis is a global cryptocurrency exchange platform that provides fast, secure, and user-friendly digital asset transactions. Founded in 2014, the company specializes in fiat-to-crypto and crypto-to-fiat conversions, enabling users to buy, sell, and swap Bitcoin, Ethereum, and other cryptocurrencies using various payment methods, including credit/debit cards, bank transfers, and e-wallets.

With a strong focus on security and compliance, Paybis is registered with regulatory authorities and implements industry-leading AML/KYC procedures. The platform is known for its intuitive interface, 24/7 customer support, and competitive exchange rates, making it a preferred choice for both beginners and experienced traders.

Wrapping Up

These stories show that traditional finance is finally taking crypto seriously, while the industry still struggles with basic security. The NYSE building tokenized stock trading and Iran buying half a billion in stablecoins proves crypto infrastructure works at scale. But when two protocols lose over $23 million in a single week and ETFs see $1.3 billion walk out the door, it’s clear the market still has major trust and security problems to solve before mainstream adoption truly arrives.

Written by

Rem Vasilenko

Rem Vasilenko is a Growth Operations Manager at Paybis. With a keen interest in FinTech, Rem brings a unique perspective to the evolving digital finance landscape. He combines his passion for FinTech with his marketing and business skills to drive innovative strategies. Find him on LinkedIn.