The Korea Exchange has activated a program trading suspension mechanism for the KOSPI index, according to market data cited by BlockBeats from Bitget on July 22. At the time of the update, the KOSPI was up 5.85%. Among major constituents, Samsung Electronics had gained 5.6%, while SK Hynix rose 8.7%. The move came during a sharp advance in the benchmark South Korean stock index, with semiconductor names posting notable gains. No additional details were provided in the brief market update beyond the activation of the trading curb and the index and stock moves.

The Digital Chamber, a crypto industry trade group, has filed a lawsuit in an Illinois court to challenge the state’s planned 0.2% tax on digital asset transactions. The measure was signed by Illinois Governor JB Pritzker and is scheduled to take effect in January 2027. In its filing, the organization asked the court to declare the law invalid and unenforceable, arguing that it violates the U.S. Constitution. The group is also seeking related relief from the court. The development was reported by The Block and cited by Odaily.

A whale trader known as “Set 10 Big Goals First” closed a Bitcoin long early on July 22, locking in $6.019 million in profit, according to BlockBeats. The position involved 4,006.47 BTC, with a reported notional value of $258 million. The entry price was $64,614.7 and the exit price was $66,160.47. The trader said the broader bullish view had not changed and described the move as profit-taking before taking a two-day break. On-chain analyst Ai Yi (@ai_9684xtpa) said the trader has completed four long trades since June 25, with cumulative profit reaching $9.96 million and a record of three wins and one loss. The trader had also shared details about earlier trades. In the previous round, they said they used 150 BTC to build a position with a target of $150 million. Unrealized profit once reached $120 million, but a wrong directional call during a drop from $120,000 erased those gains, leaving only principal preserved and a small profit. For the current round, the trader said 300 BTC was used to build the position, with a target of $300 million and realized profit so far at $60 million.

Data cited by Odaily shows that Solana and Hyperliquid ETFs are leading flows and trading activity in the altcoin ETF segment outside Bitcoin and Ethereum. Together, the two products account for nearly 80% of total trading volume among non-BTC and non-ETH ETFs. Solana ETFs now hold $904 million in assets under management, while Hyperliquid-related funds have attracted $350 million in cumulative net inflows over the two months since launch. Based on current size, the ETF exposure tied to both assets is equal to roughly 2% of the market capitalization of their respective tokens. The figures were reported by The Block and point to a high concentration of activity in a small number of altcoin-linked ETF products.

South Korean equities opened strongly on July 22, with the KOSPI index briefly reaching 7,100, according to market data from Bitget. The benchmark was up 5.27% on the day at that point. Among major names, Samsung Electronics gained 5%, while SK Hynix rose 7%. In Japan, the Nikkei 225 also opened higher, adding 253.91 points to 66,486.10, a gain of 0.38%. The moves were reported in a BlockBeats market update citing Bitget data.

Movement Labs, the former core development company behind the Movement blockchain, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware earlier this month, according to The Block. A filing dated July 15 shows the company reported assets of $100,000 to $500,000 and liabilities of as much as $10 million, with nearly 299 creditors listed. The largest unsecured claim, worth more than $1.6 million, belongs to ousted co-founder Rushikesh Manche. The filing adds another turn to the fallout surrounding Movement’s MOVE token launch. Manche still holds a 34.25% equity stake and had previously sued over legal expenses tied to a Department of Justice grand jury investigation related to the token issuance controversy, a case he won support in. Movement Labs had served as the core developer of the Ethereum Layer 2 network Movement Network and had raised $38 million in a Series A round led by Polychain. After the MOVE token launch crisis in December 2024, core development work was shifted to Move Industries.

MVMT Labs Inc., the Ethereum Layer 2 developer behind Movement Labs, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware on July 15, using the small-business reorganization path under Subchapter V. Court records tie the company’s operating crisis to controversy surrounding a market-making agreement after the launch of the MOVE token, an episode that also led to the departure of co-founder Rushi Manche. According to court documents and prior reporting cited in the source material, a deal linked to Web3Port resulted in 66 million MOVE tokens, equal to 5% of total supply, being sold into the market. The tokens were valued at about $38 million, and the sell-off was followed by a sharp price drop. Coinbase later suspended MOVE trading, while Binance froze the account tied to the incident. Earlier CoinDesk reporting said Movement had been examining whether it was misled into signing a market-making agreement that gave a rival excessive control over circulating supply. The reporting also referenced Rentech, an intermediary named in contracts related to Web3Port; Rentech denied wrongdoing or false statements. The filing lists assets of $100,001 to $1 million, liabilities of $1 million to $10 million, and between 200 and 999 creditors. A creditors’ meeting is scheduled for Aug. 20, with claim filings due by Sept. 14.

Digital Asset, the developer of the Canton blockchain network, has raised an additional $10 million from Shinhan Financial Group of South Korea and SC Ventures, the investment arm of Standard Chartered, according to The Block. The new capital increases the company’s latest financing round from $355 million to $365 million, while keeping the equity valuation unchanged at $2 billion. Digital Asset’s Canton Network is a public Layer 1 blockchain built for regulated financial institutions, designed to let firms manage assets and financial workflows on-chain while maintaining compliance and privacy controls. The company had announced the earlier $355 million close last month, led by a16z Crypto. Other participants in that round included ABN Amro, Abu Dhabi Investment Authority, Apollo Funds, BNP Paribas, Citadel Securities, CME Ventures, Coinbase Ventures, Hanwha Investment & Securities, HSBC, S&P Global and SBI Group.