This Week in Crypto: Franck Muller’s Solana Watch, SEC Updates, Circle’s IPO & More
The cryptocurrency space continues to evolve at breakneck speed. This week, we’ve seen developments spanning luxury collectibles, major legal decisions, blockchain milestones, and a staggering stablecoin scam. Here’s a roundup of the top stories from the crypto world you need to know.
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Table of contents
- Franck Muller Launches 41MM Solana Limited Edition Watch
- $2.6M Stablecoin Theft via “Zero Transfer” Attack
- TON Blockchain Celebrates 4 Years
- Circle Files for IPO Under “CRCL” Ticker
- Circle Freezes $57M in USDC Linked to LIBRA Scam
- Tether Leaves Europe, Supports New EURR and USDR Stablecoins
- SEC Drops Lawsuit Against Binance
- SEC Clarifies Staking Is Not a Securities Transaction
- Thailand to Block Unlicensed Crypto Exchanges
- About Paybis
- Wrapping Up
Franck Muller Launches 41MM Solana Limited Edition Watch
Swiss luxury watchmaker Franck Muller has introduced a limited-edition 41mm timepiece themed around the Solana blockchain. Known for blending traditional watchmaking with crypto motifs, the brand has previously created Bitcoin-themed models. This latest release appeals to both horology enthusiasts and Solana supporters, offering a unique crossroad between DeFi and design.
$2.6M Stablecoin Theft via “Zero Transfer” Attack
A crypto user lost $2.6 million in stablecoins within three hours after being hit twice by the “zero transfer” scam tactic. This attack manipulates wallet interfaces to trick users into sending funds to scam addresses by mimicking past transactions. It’s a stark reminder of how social engineering and UI deception remain major threats in Web3.
TON Blockchain Celebrates 4 Years
The TON blockchain, initially created by Telegram, turned 4 years old on May 26. It was at 22:42 on that day in 2021 that the Testnet2 transitioned to Mainnet, marking a major milestone for the project. TON has since evolved into a fast, scalable blockchain with growing ecosystem support, especially after Telegram publicly endorsed it.
Circle Files for IPO Under “CRCL” Ticker
Circle, the issuer of USDC, has officially filed to go public with the ticker CRCL. This marks a significant move for one of the most influential stablecoin issuers as it seeks broader legitimacy in traditional finance through public market participation.
Circle Freezes $57M in USDC Linked to LIBRA Scam
In a separate but related development, Circle has frozen $57 million in USDC connected to the team behind scam token LIBRA. This action highlights Circle’s ability to intervene in fraud cases, reinforcing concerns about stablecoin centralization but also demonstrating responsiveness to malicious activity.
Tether Leaves Europe, Supports New EURR and USDR Stablecoins
Tether has officially exited the European market but now backs the launch of two new stablecoins, EURR and USDR, issued via third-party companies. While details are still emerging, this move suggests a strategic pivot to circumvent tighter European crypto regulations, especially under MiCA.
SEC Drops Lawsuit Against Binance
In a major legal twist, the U.S. Securities and Exchange Commission (SEC) has withdrawn its lawsuit against Binance. This represents a significant win for the exchange, which had faced mounting regulatory pressure. However, the broader implications for regulatory clarity in the U.S. crypto market remain to be seen.
SEC Clarifies Staking Is Not a Securities Transaction
The SEC has issued a statement affirming that staking on Proof-of-Stake (PoS) blockchains does not constitute a securities transaction. This clarification is a major relief for decentralized staking protocols and could help preserve innovation in the Ethereum ecosystem and beyond.
Thailand to Block Unlicensed Crypto Exchanges
Thailand’s financial regulator has announced plans to block Bybit, OKX, and other crypto platforms that operate without a license in the country. This enforcement signals a tightening of crypto policy in Southeast Asia, emphasizing the need for exchanges to align with local laws or face expulsion.
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.
Try out Paybis now to buy, sell, swap, and manage your favorite cryptos.
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
From luxury collectibles to regulatory breakthroughs and multi-million dollar heists, this week in crypto highlights the space’s extremes, both in innovation and risk. Whether you’re following blockchain anniversaries or preparing for new stablecoin launches, staying informed is more important than ever.
We’re reviewing the top news outlets like BeInCrypto, CoinDesk, Cointelegraph, and many others to bring you the most important weekly highlights on different events in the crypto field. Stay tuned for more updates soon!
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