[News Brief] Apr 22, morning | Korea Exchange Triggers Circuit Breaker After KOSPI Plunges 8%

Korea Exchange Triggers Circuit Breaker After KOSPI Plunges 8%

According to Odaily, the Korea Exchange triggered a circuit breaker and suspended trading for 20 minutes after the KOSPI index fell 8%.

A circuit breaker is a mechanism that temporarily halts trading when sharp price swings increase market volatility, helping to cushion market shocks.

Bank of England Releases Final Policy Statement and Draft Rules for Systemic Stablecoins

The Bank of England has released its final policy statement and draft rules for systemic stablecoins, while easing parts of its original regulatory proposal.

According to Odaily, the Bank of England withdrew its previously proposed individual holding cap and set a temporary issuance cap of £40 billion per stablecoin.

It also said issuers may hold up to 70% of reserve assets in short-term UK government bonds, up from the previously proposed 60%, with the remainder required to be kept as non-interest-bearing deposits at the Bank of England.

Public feedback will be accepted until September 22. The rules are expected to be finalized by the end of 2026, and stablecoins subject to the framework are expected to begin operating in the UK in 2027.

U.S. Senate Passes Bipartisan Bill Barring Federal Reserve From Issuing a CBDC

The U.S. Senate has passed a bipartisan bill that would prohibit the Federal Reserve from issuing a central bank digital currency (CBDC), according to @pete_rizzo_.

Reports say the bill is expected to pass the House within weeks and then be quickly signed by President Trump. The CBDC ban would restrict the issuance of a government-led digital currency and is being interpreted by pro-Bitcoin circles as a policy signal favorable to private digital assets.

Visa Stablecoin Payments Pilot Reaches $7 Billion Annualized Volume

According to Odaily, Visa reported fiscal Q2 2026 net revenue of $11.2 billion, up 17% year over year. GAAP net income rose 32% to $6.0 billion, and earnings per share increased 36% to $3.14, both above market expectations.

Visa’s board also approved a new multi-year share repurchase program worth $20 billion in April.

In its stablecoin business, the annualized volume of its payments pilot program reached $7 billion, up 50% from the previous quarter. The program supports nine blockchain networks, including Polygon and Base, and operates through more than 130 stablecoin-linked card projects across over 50 countries.

Earlier in March, Visa partnered with Bridge, a stablecoin infrastructure company under Stripe, to expand stablecoin-linked card services to more than 100 countries. There were also reports that Visa, Mastercard, and Stripe are exploring the buildout of infrastructure platforms to expand stablecoin use in global commerce.

Spot Bitcoin ETFs See $68.1757 Million in Daily Net Outflows

Odaily, citing SoSoValue data, reported that spot Bitcoin ETFs recorded total net outflows of $68.1757 million on June 22 (U.S. Eastern Time).

By product, BlackRock’s IBIT saw the largest outflow at $172 million. In contrast, ARK Invest/21Shares’ ARKB recorded net inflows of $63.9991 million, while Fidelity’s FBTC saw net inflows of $57.3805 million.

Total net assets of spot Bitcoin ETFs stood at $80.217 billion, representing 6.21% of Bitcoin’s total market capitalization. Cumulative net inflows reached $53.33 billion.

Spot Ethereum ETFs Post Net Outflows for a Third Consecutive Trading Day

Spot Ethereum ETFs recorded total net outflows of $66.0351 million on June 22 U.S. Eastern Time, according to Odaily citing SoSoValue data. This marked the third straight trading day of net outflows for spot Ethereum ETFs.

The largest outflow came from BlackRock’s ETHA, which posted daily net outflows of $66.3812 million. ETHA’s cumulative net inflows stand at $11.25 billion.

Meanwhile, 21Shares’ TETH recorded net inflows of $346,100. Total net assets of spot Ethereum ETFs were $9.436 billion, equal to 4.51% of Ethereum’s market capitalization.

Taiko Identifies Root Cause of Attack, Developing Recovery Patch

According to Odaily, Taiko said via X that it has identified the root cause of the recent attack and is developing a recovery patch to resume blockchain operations.

Taiko added that it is working with major exchanges and security partners to trace and freeze the hacker’s assets. It also said that funds remaining in the cross-chain bridge are currently safe.

Earlier reports said Taiko’s cross-chain bridge was attacked, causing losses of up to $1.7 million.

Synthetix to Phase Out sUSD Under SIP-423

According to PANews, Synthetix governance has decided to phase out sUSD under proposal SIP-423. Holders will receive 4 SNX in locked form for each 1 sUSD.

The proposal was submitted by Synthetix founder Kain Warwick and core contributor Benjamin Celermajer. It includes freezing the sUSD contract and redeeming holders at face value.

sUSD is currently trading at about $0.25, far below its $1 target peg. The SNX distributed will be locked for one year from the freeze date and then linearly unlocked over the following year.

Binance to List AMDB, EWYB, INTCB, and MSTRB Spot Trading Pairs

According to Odaily, Binance announced that it will list the AMDB/USDT, EWYB/USDT, INTCB/USDT, and MSTRB/USDT spot trading pairs at 22:30 KST on June 23, 2026.

Binance will also support spot algorithmic trading bot services for these pairs. Deposits and withdrawals for the related bTokens tokenized securities will open at 23:30 KST the same day, and maker fees will be waived during the promotional period.

Turboflow Raises $6 Million Seed Round Led by Pantera

According to Odaily, Turboflow has raised $6 million in a seed funding round. The round was led by Pantera Capital, with participation from Susquehanna Crypto, Digital Currency Group, and others.

Turboflow is a project that provides on-chain trading services for prediction markets and perpetual futures. The company plans to expand prediction markets in Asia through localization and regional hub development.