Coinbase and Other Regulated Proxies Drive Norway’s Sovereign Wealth Fund to Triple Bitcoin Exposure
Norway's $1.4 trillion sovereign wealth fund has strategically increased its indirect Bitcoin holdings to 7,161 BTC ($1.2 billion) without direct cryptocurrency purchases. By leveraging regulated proxies such as MicroStrategy, Metaplanet, and Coinbase, the fund has seen its positions grow by 133-192% since 2024. This move reflects a broader institutional trend where state-backed entities are cautiously entering the crypto space through trusted intermediaries.
Norway's Sovereign Wealth Fund Triples Bitcoin Exposure Through Strategic Investments
Norway's $1.4 trillion sovereign wealth fund has nearly tripled its indirect Bitcoin holdings to 7,161 BTC ($1.2 billion) without direct cryptocurrency purchases. The fund's methodical approach leverages regulated proxies like MicroStrategy, Metaplanet, and Coinbase - companies that collectively saw positions grow 133-192% since 2024.
This mirrors a broader institutional trend where state-backed entities circumvent direct crypto bans through ETFs and equity stakes. Kazakhstan's National Fund and several U.S. pension systems have adopted similar strategies, treating bitcoin as a strategic reserve asset rather than speculative bet.
The Norwegian fund's $14.5 million position in Coinbase proves particularly noteworthy. As the only publicly traded crypto exchange meeting institutional compliance standards, Coinbase serves as a critical gateway for traditional finance's crypto exposure.
Coinbase Acquires Deribit, Boosting Crypto Derivatives Power
Coinbase has finalized its acquisition of Deribit, a leading crypto options trading platform, marking a significant expansion in its derivatives offerings. Deribit's dominance is underscored by $59 billion in open interest and a record $185 billion in monthly trading volume in July. The platform processed over $1 trillion in trades last year, cementing its position as a heavyweight in crypto derivatives.
The deal positions Coinbase as a comprehensive trading hub, now spanning spot, futures, perpetual contracts, and options. This strategic MOVE amplifies Coinbase's competitive edge in the global crypto derivatives market, where institutional and retail demand continues to surge.
$74 Million in Crypto Scams Thwarted by Cross-Border Operations
Chainalysis collaborated with US and Canadian law enforcement to disrupt over $74 million in cryptocurrency fraud through two major operations. Project Atlas, spearheaded by the Ontario Provincial Police, prevented $70 million in potential theft and identified more than 2,000 fraudulent wallets across 14 countries.
Working with Tether, investigators froze $50 million in USDT tied to scams. The operation involved eight police forces alongside private sector partners Ndax and Coinbase. Meanwhile, Operation Avalanche uncovered $4.3 million in Ethereum-based scams targeting North American victims.
The Royal Canadian Mounted Police and US Secret Service played pivotal roles in these coordinated efforts. These cases demonstrate growing international cooperation to combat crypto-related crime as digital asset adoption expands.
Trump Jr.-Backed Thumzup Media Allocates $50M to Bitcoin Mining and Crypto Reserves
Thumzup Media Corporation, a Nasdaq-listed firm with ties to Donald TRUMP Jr., has secured $50 million through a public offering to aggressively expand into cryptocurrency. The capital will fund Bitcoin mining operations and bolster the company's digital asset holdings, coinciding with Bitcoin's surge to a record $124,000.
The company deepened its crypto infrastructure through a partnership with Coinbase Prime, which will provide custody and institutional services for assets including XRP, Bitcoin, Ethereum, and Solana. Thumzup's treasury strategy now allows up to 90% of liquid assets to be held in cryptocurrencies, with CEO Robert Steele citing Coinbase's security protocols as critical for scaling operations.
This move comes as institutional interest reignites amid Bitcoin's price discovery phase. Trump Jr.'s personal stake of 350,000 shares underscores the convergence of political influence and corporate crypto adoption.
Ethereum Unstaking Hits Record $3.2 Billion as Lido, EthFi, Coinbase Lead Withdrawals
Ethereum's unstaking queue has surged to a historic 671,000 ETH, valued at $3.2 billion, with withdrawal wait times stretching to nearly 12 days. The exodus is spearheaded by liquid staking giants Lido, EthFi, and Coinbase, which account for the bulk of the outflow.
Lido dominates the withdrawals with 285,000 ETH unstaked, followed by EthFi at 134,000 ETH and Coinbase at 113,000 ETH. The unprecedented demand has pushed Lido's internal queue to an all-time high, reflecting mounting pressure on the platform.
Market participants are unwinding Leveraged positions, particularly those involving stETH collateral on Aave, as borrowing costs rise and yields compress. Concerns over stETH's peg stability and profit-taking amid volatile market conditions are further fueling the retreat.
Coinbase Acquires Deribit in $1 Trillion Crypto Options Landmark Deal
Coinbase has finalized its acquisition of Deribit, the dominant player in cryptocurrency options trading, marking a strategic expansion into derivatives. The deal grants Coinbase access to Deribit's $1 trillion annual trading volume and a record $185 billion monthly turnover in July.
Deribit's $59 billion open interest and institutional-grade infrastructure will immediately bolster Coinbase's derivatives offerings. The integration combines Coinbase's spot market dominance with Deribit's high-speed options platform, creating a comprehensive trading ecosystem.
The acquisition comes as institutional demand for crypto derivatives reaches new highs. Deribit's existing trader network provides Coinbase with instant liquidity and technical capabilities to compete in global derivatives markets.
