Today in crypto, Bitcoin exchange-traded funds (ETFs) post June’s biggest daily outflows, USDt flipped Ether in market cap and South Korea’s data protection regulator imposed a 210 million won fine on Bithumb for transferring users’ personal information overseas without proper consent.
Bitcoin ETFs post June’s biggest daily outflows as BTC falls below $60K
US-listed spot Bitcoin exchange-traded funds (ETFs) recorded their largest daily net outflows of June on Thursday as Bitcoin fell below $60,000.
Spot Bitcoin ETFs shed $696.3 million, surpassing the previous monthly high of $519.2 million logged on June 2, according to SoSoValue data.
The latest withdrawals pushed June’s total outflows to $3.61 billion, bringing year-to-date net outflows to $4.6 billion.
Monthly flows in US spot Bitcoin ETFs as of Friday. Source: SoSoValue
The ETF outflows coincide with signs that other large sources of institutional Bitcoin demand are also slowing. Strategy, the world’s largest corporate Bitcoin holder, has reduced its accumulation pace in June, prompting debate over whether the company should conserve cash during the market downturn.
Tether stablecoin flips Ether by market cap as ETH routs to $1.5K
Tether stablecoin USDt became the second-largest cryptocurrency by market capitalization as Ether fell to its lowest price level this year on Friday.
Ether’s market capitalization dropped below $185 billion following a 5.2% price crash over 24 hours, sending the asset tumbling to $1,510 on Coinbase on Friday, according to TradingView, allowing USDt, with a $186 billion market capitalization, to surpass the cryptocurrency.
“[The] stablecoin overtake really highlights how the market still favors stability over ETH’s volatility right now,” Andri Fauzan Adziima, research lead at Bitrue Research Institute, told Cointelegraph.
The development reflects accelerating stablecoin growth, which currently represents almost 15% of the entire crypto market capitalization. Stablecoins retracted more than 30% in the last bear market, but they’re hitting record highs this time, wrote 21Shares on Thursday.
“To us, that is the strongest evidence yet that stablecoins are one of crypto’s defining use cases – demand that no longer depends on the cycle.”
USDt flips ETH in the market cap table. Source: CoinGecko
Bithumb fined over overseas user data transfers
South Korea’s Personal Information Protection Commission (PIPC) fined cryptocurrency exchange Bithumb 210 million won ($136,000) for transferring users’ personal information to overseas exchanges without obtaining separate consent, violating the country’s data protection laws.
The regulator said Bithumb shared personal information with 13 overseas exchanges during virtual asset transfers and order book-sharing activities. The investigation found that the exchange shared Tether’s USDt order book data with BingX between September and November 2025, despite only having user consent to share data with Stellar.
PIPC acknowledged that sharing certain information may be necessary to comply with anti-money-laundering requirements for crypto transfers. However, it said exchanges must still follow legal procedures governing overseas data transfers and obtain the required user consent.
The fine adds to Bithumb’s growing regulatory challenges. The exchange was previously hit with a six-month business suspension by South Korea’s financial watchdog over alleged violations of the Financial Information Act, though a court later overturned the sanction. Police also raided Bithumb’s offices this month as part of an investigation into alleged nepotism involving lawmaker Kim Byung-gi.
English translation of the PIPC’s announcement imposing a fine on Bithumb. Source: PIPC
