Coinbase Acquires Echo for $375 Million as SharpLink Expands Ethereum Treasury to 859,853 ETH Worth $3.5 Billion
Bitget Enables Stablecoin Gas Payments Across Major Chains, Coinbase Acquires Echo for $375M, North Korea Uses EtherHiding Malware in $6B Crypto Heist Spree, Aave Captures 82% of Ethereum Lending Market, YZi Labs Invests $25.5M in Sign to Expand Sovereign Blockchain Infrastructure
Because Bitcoin
October 21, 2025
Google Warns North Korea Using EtherHiding Malware in Blockchain to Steal Crypto Amid $6B Heist Spree
Google’s Threat Intelligence Group has identified North Korea deploying EtherHiding malware—hidden in smart contracts on Ethereum and BNB Smart Chain—to steal cryptocurrency. While EtherHiding has been abused by financially motivated actors since 2023, this is the first observed use by a nation state. The malware is highly resistant to traditional blocking methods, allowing autonomous propagation via smart contracts.
North Korean hackers have stolen over $2 billion in 2025 alone, including $1.46 billion from Bybit, and more than $6 billion in total, funding the country’s nuclear and missile programs. Recent attacks include a $1.2 million theft from Seedify Fund’s cross-chain token bridge. The regime employs sophisticated tactics including social engineering, malware, fake companies, and even recruiting non-Koreans to bypass hiring restrictions, while also targeting conventional web infrastructure such as the npm registry.
Coinbase Acquires Onchain Investment Platform Echo for $375 Million to Integrate Sonar
Coinbase is acquiring Echo, an onchain private investment platform, for $375 million in a mix of cash and stock, marking its eighth acquisition this year. Echo founder Jordan Fish, known as Cobie, confirmed the deal, stating the platform will remain standalone while Coinbase plans to integrate Echo’s public token sale product, Sonar. The acquisition follows Coinbase’s other purchases in 2025, including Deribit, LiquiFi, and a $25 million NFT to revive the crypto podcast UpOnly. Coinbase’s stock is up 33% year-to-date, closing at $343.78 with a market cap of $88.3 billion.
SharpLink Gaming Adds 19,271 ETH to Bring Total Holdings to 859,853 ETH Valued at $3.5 Billion
Minnesota-based SharpLink Gaming, which transitioned from online gaming to an Ethereum digital asset treasury in June, added 19,271 ETH to its balance sheet, bringing total holdings to 859,853 ETH, valued at approximately $3.5 billion despite recent price declines. Since launching its ether-denominated treasury strategy, SharpLink has earned 5,671 ETH in staking rewards, worth over $22 million. Nasdaq-listed SharpLink, chaired by Ethereum co-founder Joseph Lubin, follows a $425 million private investment round led by Consensys, making it the second-largest Ethereum-based digital asset treasury after Bitmine Immersion.
Bitget Wallet Integrates EIP-7702 to Enable Gas Payments in Stablecoins Across Ethereum and Major Chains
Bitget Wallet has introduced a new update integrating Ethereum’s EIP-7702, allowing users to pay transaction fees in stablecoins such as USDT, USDC, and BGB. The feature, part of Bitget’s gas abstraction initiative, is compatible with Ethereum, Solana, Base, TRON, Polygon, Arbitrum, BNB Chain, and Optimism. EIP-7702 lets externally owned accounts temporarily act as smart contract wallets, enabling advanced functions like transaction batching and gas sponsorship. According to Bitget CMO Jamie Elkaleh, this update bridges the gap between self-custody and centralized exchange convenience, letting users transact across multiple chains without holding native gas tokens. The move places Bitget Wallet in competition with similar gas abstraction efforts from MetaMask, OKX Wallet, and Base App.
YZi Labs Leads $25.5 Million Strategic Investment in Sign to Expand Sovereign Blockchain Infrastructure
YZi Labs, formerly Binance Labs, led a $25.5 million strategic funding round for Sign, joined by IDG Capital, bringing the company’s total fundraising to over $55 million across seed, Series A, and strategic rounds. Sign plans to use the capital to grow its tech team, focusing on Hyperledger Fabric, zero-knowledge proofs, and interoperability, while establishing local teams globally. The company is also expanding partnerships to develop sovereign blockchain infrastructure, targeting engagement with countries including Thailand, South Korea, and leading tech nations in Central Asia and the Middle East. Sign aims to implement nationwide digital currency systems, positioning itself ahead of competitors like Ripple and Solana, and has initiated buybacks of its native token SIGN to support growth.
Aave Dominates Ethereum Lending with 82% Market Share and $25 Billion in Outstanding Loans
Aave has cemented its position as the leading lending protocol on Ethereum, now accounting for 82% of all outstanding debt on the network. Serving nearly 1,000 daily borrowers, the protocol facilitates around $25 billion in loans, with a total value locked of roughly $50 billion. Its growth reflects steady user adoption since 2021 and market consolidation around platforms offering deep liquidity and robust security. Aave’s features, including flash loans and efficiency mode for higher leverage, have made it essential for advanced DeFi strategies. The protocol’s dominance highlights Ethereum’s continued central role in DeFi lending and borrowing.
