Institutional investment and infrastructure expansion drove the crypto sector on July 16, with Crypto.com securing its first institutional funding round and MoonPay strengthening its payments stack through an acquisition.
Bybit deepened its regulatory footprint with the launch of a licensed exchange in Indonesia, while Kraken broadened its derivatives offering with new crypto options contracts. Spot Bitcoin and Ethereum ETFs also extended their streak of daily inflows, underscoring continued institutional demand despite mixed weekly trends.
Crypto.com raises $400M from Citadel Securities
Crypto.com announced a $400 million strategic investment from Citadel Securities, valuing the company at $20 billion. The company said the capital will support expansion across digital asset infrastructure, including tokenized securities and derivatives, marking the first institutional funding round in its history.
The investment highlights continued institutional interest in crypto infrastructure as traditional financial firms expand into digital assets. Beyond providing fresh capital, the deal positions Crypto.com to invest further in regulated products and tokenized financial markets, reinforcing the broader trend of convergence between traditional finance and blockchain-based infrastructure.
MoonPay acquires crypto deposit startup Glide
MoonPay acquired crypto deposits startup Glide, bringing its technology, team, and customer base into the company. Glide enables applications to accept crypto deposits from virtually any wallet, exchange, token, or payment card without requiring users to manually convert assets before completing transactions.
Founded in 2023, Glide processes more than $100 million in annualized volume across over 100 tokens and 30 blockchain networks.
Payments remain one of crypto’s biggest usability challenges. Glide’s routing infrastructure simplifies deposits across multiple chains and funding sources, reducing friction for both developers and end users. The acquisition strengthens MoonPay’s position as it expands beyond fiat on-ramps into broader payment infrastructure.
Bybit launches regulated exchange in Indonesia
Bybit officially launched Bybit Indonesia, a locally operated exchange, following its majority acquisition of PT Enkripsi Teknologi Handal (formerly NOBI). The platform will operate under the supervision of Indonesia’s Financial Services Authority (OJK) and initially offer more than 500 trading pairs.
The company said the local entity will be managed by an Indonesia-based leadership team and operate under domestic regulatory requirements. Indonesia is one of Southeast Asia’s fastest-growing digital asset markets. Rather than serving users cross-border, Bybit is investing in a locally licensed business with dedicated compliance and operational teams, reflecting the industry’s growing emphasis on regulatory engagement as exchanges expand internationally.
Kraken expands into crypto options
Kraken launched European-style, cash-settled options contracts for Bitcoin and Ether on Kraken Pro. The contracts are initially available via a request-for-quote (RFQ) model, with weekly, monthly, quarterly, and semi-annual expiry terms.
According to the official release, the exchange is expanding beyond spot and futures trading to meet growing institutional demand for options products. Kraken plans to introduce a public order book and wider geographic availability as the offering matures.
Spot Bitcoin and Ethereum ETFs record net inflows
According to Lookonchain, U.S. spot Bitcoin ETFs recorded 1,632 BTC (approximately $105.1 million) in net inflows on July 16. BlackRock’s IBIT led the day with 1,246 BTC in purchases. Spot Ethereum ETFs added 23,567 ETH (approximately $44.2 million), with BlackRock’s ETHA accounting for 23,542 ETH.
Daily inflows indicate continued institutional participation despite recent volatility. Bitcoin funds remain in net weekly outflows, while Ethereum ETFs continue to maintain positive seven-day inflows, suggesting stronger recent momentum for ETH products.
At the time of this writing, Bitcoin traded at $64,175, down 1.04% over the past 24 hours, while Ethereum fell 2.55% to $1,873, according to CoinMarketCap data. Bitcoin continued to consolidate above the $64,000 level after recovering from June lows, suggesting the market remains range-bound despite weaker trading activity.
Ethereum, meanwhile, slipped below the $1,900 mark after facing resistance near recent highs, reflecting relatively stronger selling pressure than Bitcoin. Over the past 24 hours, Bitcoin recorded $26.94 billion in trading volume compared with $11.18 billion for Ethereum.
1inch co-founder announces new venture
Anton Bukov, co-founder of 1inch, said he is no longer involved in the protocol’s operations, product architecture, or security oversight despite remaining a 50% shareholder. In an X post on Thursday, Bukov stated that he was removed from the company’s management in late 2025 and announced a new project called Second Tier, focused on building blockchain infrastructure.
Leadership transitions at major DeFi protocols can reshape development priorities and governance. Bukov’s departure closes his operational role at one of the industry’s largest decentralized exchange aggregators while signaling the launch of a new infrastructure-focused venture.
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