Crypto News Roundup: OSL Expands, BitoPro Hacked, Circle IPO & BexBack Launch

OSL Group Expands into Indonesia with $15 Million Crypto Exchange Acquisition

Hong Kong-listed OSL Group has announced a significant move to expand its presence in Southeast Asia by acquiring a 90% stake in Evergreen Crest, an operator of an Indonesian crypto exchange, for $15 million. According to a filing with the Hong Kong Stock Exchange, this acquisition will grant OSL "immediate and strategic access to the Indonesian digital asset market," including relevant licenses for cryptocurrency spot and derivatives trading through Evergreen Crest's subsidiaries.

OSL highlighted Indonesia's "substantial and youthful demographic, robust economic growth fundamentals, and a rapidly increasing rate of cryptocurrency adoption" as key factors for its expansion. The company also plans to broaden its service offerings in Indonesia, such as real-world assets and payment finance, pending necessary license permissions. This move follows OSL's recent acquisition of Japanese crypto exchange CoinBest, now rebranded as OSL Japan. Despite the expansion news, OSL's stock fell 3.4% in Hong Kong on Tuesday, though it has risen 11.6% over the past month, according to Yahoo Finance data.

Acquisition Target	Stake Acquired	Deal Value	Market Impact
Evergreen Crest (Indonesia)	90%	$15 million	OSL stock -3.4% (day), +11.6% (month)

Key Takeaway: OSL Group is making a strategic $15 million investment to secure a dominant position in Indonesia's growing crypto market, leveraging local licenses and demographic trends. (Source: The Block)

BitoPro Crypto Exchange Hacked for $11.5 Million

Taiwanese cryptocurrency exchange BitoPro suffered a suspected exploit on May 8, resulting in the loss of over $11.5 million worth of tokens, according to blockchain investigator ZachXBT. The breach involved unauthorized access to BitoPro's hot wallets across multiple blockchains, including Ethereum, Tron, Solana, and Polygon. The stolen assets were sold on decentralized exchanges and laundered through privacy protocols such as Tornado Cash and Thorchain, before being moved to Wasabi Wallet, a Bitcoin mixing service.

BitoPro has not publicly acknowledged the breach, instead informing users of a temporary service suspension due to "system maintenance." The exchange, operated by BitoGroup since 2018, is the top locally-focused exchange in Taiwan, processing over $20 million in trading volumes in the past 24 hours and primarily supporting Taiwanese dollar (TWD) fiat pairs for major tokens like bitcoin.

Date of Exploit	Estimated Loss	Trading Volume (24h)	Public Disclosure
May 8, 2025	$11.5 million	$20 million+	No formal acknowledgment

Key Takeaway: BitoPro experienced a major security breach with $11.5 million in losses, highlighting ongoing risks in crypto exchange security. (Source: CoinDesk, Fortune)

BexBack Launches with 100x Leverage, No KYC, and Up to 10 BTC Bonus

BexBack, a new player in the crypto derivatives market, has officially launched its global crypto futures trading platform, offering up to 100x leverage, a 100% deposit bonus, and no KYC requirement. The platform supports over 50 major crypto contracts, including BTC, ETH, XRP, SOL, and ADA, and boasts zero spreads, no slippage, and fast execution. BexBack is registered with the U.S. FinCEN as a Money Services Business (MSB) and is headquartered in Singapore, with support offices in Hong Kong and other regions.

New users who deposit at least 0.001 BTC or 100 USDT are eligible for a 100% deposit bonus. After their first trade, they can request a $50 welcome trading bonus, which will be credited within 24 hours. The deposit bonus cannot be withdrawn directly but can be used to open larger positions and reduce liquidation risk during market volatility. BexBack has already attracted over 500,000 users from more than 200 countries and regions.

Up to 100x leverage on 50+ crypto contracts
Zero spread and no slippage execution
No KYC required for trading
100% deposit bonus and $50 welcome bonus for new users
Funding fee charged only once per day

Key Takeaway: BexBack is targeting global traders with high leverage, no KYC, and attractive bonuses, aiming to provide a fast and flexible trading experience. (Source: Morningstar)

How to Invest in Crypto with Just $100: A Step-by-Step Guide

Investopedia provides a comprehensive guide for beginners looking to invest in cryptocurrency with as little as $100. The article notes that Bitcoin (BTC) reached $100,000 for the first time in December 2024, up from just above $50,000 earlier that year, illustrating the market's volatility and potential for high returns. The guide emphasizes the importance of understanding cryptocurrencies, setting realistic expectations, and only investing what you can afford to lose.

Choose the Right Cryptocurrency: Research the project, team, and tokenomics before investing.
Create an Investment Plan: Limit crypto to no more than 5% of your portfolio and consider dollar-cost averaging.
Select an Exchange or Brokerage: Use reputable platforms like Coinbase, Kraken, or Gemini.
Set Up a Crypto Wallet: Decide between self-custody and custodial wallets, considering security and convenience.
Make Your First Purchase: Fund your account and buy your chosen cryptocurrency.

After investing, it's crucial to monitor your portfolio, use strong security measures, and be aware of tax implications. The IRS treats cryptocurrency as property, so capital gains taxes may apply when selling or trading.

Key Takeaway: Starting with $100 in crypto is a practical way to learn about the market while minimizing risk, with the main return being knowledge and experience. (Source: Investopedia)

Circle's IPO: Six Key Facts About the USDC Stablecoin Issuer

Circle Internet, the company behind the USDC stablecoin, is set to begin trading on the New York Stock Exchange this week. Founded in 2013 in Cambridge, Circle manages over $60 billion in USDC, a stablecoin designed to maintain a one-to-one relationship with the U.S. dollar and backed by assets like U.S. Treasury securities or cash. Demand for Circle's stock appears strong, with the company expanding its share offering and a potential valuation exceeding $7 billion.

Circle's core business involves earning interest on the assets backing USDC, with revenues rising when interest rates are high. However, USDC is not insured like bank deposits and has experienced de-pegging events, such as trading at 92 to 89 cents in March 2023 after a run on Silicon Valley Bank. Circle has since diversified its banking partners. The company recently moved its headquarters from Boston to New York, reflecting the city's status as a hub for regulated crypto activity.

Circle faces competition from Tether (USDT), which has about $150 billion in circulation, and relies on distribution partners like Coinbase, which retains a significant share of USDC-related interest revenue. The company is seen as a regulated, U.S.-aligned alternative to offshore crypto firms and has advocated for comprehensive federal stablecoin regulation. Despite concerns about crypto's use in illicit activities, USDC transactions are fully traceable, and platforms like Coinbase require KYC checks.

USDC Circulation	Circle Valuation (IPO)	Competitor (USDT)	Headquarters
$60 billion+	$7 billion+	$150 billion	New York (moved from Boston)

Key Takeaway: Circle's IPO marks a milestone for regulated stablecoins, with USDC playing a key role in global payments and digital dollar access, but the company faces competition and regulatory risks. (Source: MassLive)

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