Bitcoin News Today: Crypto's Duality: MegaETH's $530M Surge Amid Regulatory and Market Turmoil

The MegaETH Public Sale has raised $530 million to date, with 18,590 participating addresses, marking one of the largest decentralized fundraising efforts in cryptocurrency history, according to a Crypto.news article. The initiative, which leverages Ethereum-based tokenization, has attracted a broad spectrum of investors, from institutional players to retail participants, reflecting growing confidence in blockchain-based capital formation. The sale's success comes amid a surge in crypto venture capital activity, with projects across decentralized finance (DeFi), Web3 infrastructure, and tokenized assets securing significant funding in recent months.

A key catalyst for the sale's momentum is the broader trend of institutional adoption. For instance, Bitcoin-focused startup recently closed a $10 million investment round led by Greenfield Capital, a move it described as a "major step toward building programmable BTC on Bitcoin for DeFi applications," according to Crypto.news. The round, which included participation from FalconX Global and DNA Fund co-founder Scott Walker, underscores the appetite for innovation in Bitcoin's layer-2 ecosystem. Meanwhile, other projects in the same funding cohort, such as ($9 million) and ($8 million), highlight the diversification of use cases driving capital inflows into the space.

The MegaETH sale's scale also aligns with a broader shift in public market dynamics. In a separate development, Miluna Acquisition Corp's IPO, a Cayman Islands-based special purpose acquisition company (SPAC), raised $60 million through an initial public offering (IPO) in October 2025. The $10-per-unit offering, which included a private placement component, exemplifies the growing intersection of traditional capital markets and crypto-native ventures. SPACs have emerged as a popular vehicle for crypto projects seeking public market access, particularly as regulatory frameworks evolve globally.

However, the crypto landscape remains volatile. XRP, the native token of Ripple, recently plummeted 40% amid massive liquidations, wiping out $19 billion in positions, according to a TradingView report. The decline coincided with delays in the approval of XRP ETFs due to the U.S. Securities and Exchange Commission's (SEC) government shutdown. These developments highlight the fragility of market sentiment, even as long-term investors remain bullish on blockchain's potential.

Regulatory scrutiny continues to shape the sector. China, for example, has doubled down on its crypto crackdown, with the People's Bank of China warning of stablecoin risks and emphasizing its push for the e-CNY digital yuan in a Yahoo Finance piece. Governor Pan Gongsheng criticized stablecoins for exacerbating global financial regulation gaps and undermining monetary sovereignty in developing economies. Meanwhile, Hong Kong's regulators have maintained a cautious yet open stance, positioning the city as a potential hub for stablecoin innovation, according to a South China Morning Post article.

The MegaETH sale's success suggests that, despite regulatory headwinds, the crypto ecosystem remains resilient. As projects like BOS and Miluna demonstrate, institutional-grade capital is increasingly viewing blockchain as a legitimate asset class. Yet, with market volatility and geopolitical tensions persisting, the path to mainstream adoption remains uneven.