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China has accused the U.S. of pulling off a ‘state-backed crypto heist’ worth $13 billion in Bitcoin — what is China referring to?

Ripple is looking beyond crypto and wants to target traditional finance with XRP-backed blockchain services — here’s what that means.

Plus, if you’re interested in a pre-market roundup of the stocks making the biggest moves, the top stories you need to watch for the day and much, much more, check out our daily pre-market newsletter.

TOP STORY

China Accuses US Of $13 Billion Bitcoin 'State-Backed Crypto Heist'

China has accused the U.S. of taking $13 billion in Bitcoin linked to a 2020 hack, escalating a cross-border dispute that Washington says is simply a lawful seizure of criminal proceeds.

China’s National Computer Virus Emergency Response Center (CVERC) alleged that the U.S. Department of Justice seized 127,000 Bitcoin originally stolen in a 2020 cyberattack on the LuBian mining pool. 

The agency described the incident as a “state-backed crypto heist,” claiming it was carried out by a “state-level hacking organization.”

Read the full scoop here.

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QUICK N DIRTY

Bitcoin, Ethereum, Dogecoin, XRP are consolidating as investors look for the government shutdown to officially end: here’s what’s driving markets today.

The U.S. Senate is looking to pass a new crypto market structure bill — and this one could be a game-changer.

Bitcoin may soon be used as mortgage collateral — at least if this new Trump-backed proposal is passed as a bill.

FINTECH FOCUS

Brad Garlinghouse Looks Beyond Crypto As Ripple Targets Traditional Finance With XRP-Powered Blockchain Services

XRP issuer Ripple is expanding its vision beyond crypto, aiming to bridge traditional finance and blockchain through institutional-grade solutions.

In an interview with CNBC at the Ripple Swell 2025 conference on Monday, CEO Brad Garlinghouse said Ripple’s mission is to integrate blockchain technology into mainstream financial services, capitalizing on growing institutional interest amid a more crypto-friendly U.S. environment under President Trump.

He noted that major banks, including Citi, JPMorgan and Bank of America, are exploring blockchain and stablecoin applications.

Read the full scoop here.

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