Speaking at IBW, John O’Loghlen, Coinbase’s APAC director, described the reset as intentional rather than reactive. He noted that the company chose to “burn the boats”. It decided to remove all legacy Indian accounts to restart under a structure that aligns fully with domestic oversight.
This expansion builds on Ripple’s initial MPI approval in 2023 and positions the company among a small group of digital-asset firms operating under a comprehensive, regulator-supervised framework in one of the world’s most established financial centers.
The release arrives at a time when global derivatives volumes continue to concentrate around a handful of exchanges and long-standing debates around market structure, security practices, and transparency persist.
Bitget’s total reserves rose to $7.83 billion, while Bitcoin holdings increased by 6%, from 28.6K BTC to 30.3K BTC, bucking the industry-wide decline in centralized exchange reserves.
The raise, structured through equity and token warrants, marks Lighter’s second major funding milestone after a $21 million round in 2024, bringing its total funding to nearly $90 million.
The collaboration will focus on expanding access to perpetual futures, lending products, and on-chain structured yield strategies for hedge funds, asset managers, and market makers, effectively bridging the gap between Wall Street and Web3.
The sale follows similar digital bond offerings in 2023 and 2024, as Hong Kong cements its position as a leading global hub for blockchain-enabled financial infrastructure.
The offering, aimed squarely at professional investors in the EEA and U.K., threads a steady-income narrative through the volatility of digital-asset accumulation.
