[News Brief] Apr 22, morning | New York Attorney General Calls for Stronger Crypto Regulation

According to blockchain security firm PeckShield, SolidoMoney was attacked over the weekend, resulting in the theft of approximately 293.7 million SUPRA tokens.

Of that amount, about 220 million SUPRA were transferred to a wallet suspected to be a Gate deposit address. SolidoMoney said that roughly 90% of the stolen funds belonged to the foundation.

New York Attorney General Letitia James submitted written testimony to the U.S. Congress urging stronger regulation of cryptocurrency companies, Odaily reported.

James stated that the Digital Asset Market Clarity Act could override state-level digital asset market regulation and transfer oversight authority to the U.S. Commodity Futures Trading Commission (CFTC), potentially weakening enforcement capabilities at the state and local levels.

She explained that crypto fraud complaints received by the New York Attorney General’s Office have tripled over the past three years, with reported losses over the past five years reaching approximately $500 million.

James stressed that crypto platforms must comply with anti-money laundering, know-your-customer, and cybersecurity requirements, monitor suspicious transactions and market manipulation, and bear financial responsibility when they fail to prevent fraud against customers.

According to Odaily, a Fox Business crypto reporter said on X that U.S. Senate Republicans are seeking to bring the Clarity Act to a floor vote this week and secure Democratic support.

The Clarity Act is a bill intended to clarify U.S. crypto market structure and regulatory jurisdiction, and the industry is closely watching whether it will reduce regulatory uncertainty.

BTC fell below $64,000, showing weakness.

PANews reported on the 28th, citing OKX market data, that BTC was trading at $63,988.10, down 0.89% on the day.

Ethereum dropped below $1,900.

Odaily cited OKX market data showing that ETH was trading at $1,899.99, down 2.59% over the past 24 hours.

Retail investors accounted for nearly twice the share of whale inflows in Binance Bitcoin inflows. Analysts said volatility in risk assets could increase ahead of the Fed’s FOMC decision.

According to PANews, CryptoQuant analyzed Binance’s 30-day Bitcoin inflows and found that whale inflows totaled $3.9 billion, down 44.3% from around $7.0 billion on June 12.

By contrast, retail investor inflows totaled $7.8 billion, down only 22% from around $10.0 billion on June 5. Retail inflows currently exceed whale inflows by about $3.9 billion.

CryptoQuant said this trend coincides with the July 28–29 FOMC meeting. An unexpected rate hike could support the U.S. dollar and Treasury yields, increasing volatility in risk assets such as Bitcoin, while a hold and dovish signals could ease macro pressure.

Upbit will list RLUSD on its KRW, BTC, and USDT markets, according to an official announcement cited by PANews.

RLUSD is a Ripple-related stablecoin, and the listing expands trading access on a major domestic exchange.

U.S. spot Bitcoin ETFs recorded net inflows of $33.79 million last week, Bitcoin Magazine reported on the 27th.

Spot Bitcoin ETF fund flows are widely used as a key indicator of institutional demand for Bitcoin.

U.S. spot XRP ETFs recorded net inflows of $592,500 on July 27, according to PANews citing SoSoValue data.

Franklin XRP ETF (XRPZ) was the only fund to record net inflows, and its cumulative net inflows reached $422 million.

As of publication, total net assets in U.S. spot XRP ETFs stood at $1.002 billion, representing 1.47% of XRP’s market capitalization. Total cumulative net inflows amounted to $1.495 billion.

U.S. spot SOL ETFs recorded net inflows of $1.0337 million during July 27 Eastern Time. The inflow came only from the Bitwise Solana Staking ETF.

PANews, citing SoSoValue data, reported that cumulative net inflows into the Bitwise Solana Staking ETF reached $909 million.

At the time of writing, total net assets in spot SOL ETFs stood at $889 million, equivalent to 2.01% of SOL’s market capitalization. Total cumulative net inflows were recorded at $1.145 billion.