Bitcoin drops below $113,000 amid profit taking, risk of government shutdown: CNBC Crypto World

Market Trends & Regulatory Landscape - Major cryptocurrencies are in the red, influenced by the growing risk of a government shutdown [1][2] - The Genius Act became law, providing a major boost to US crypto regulation [4] - Traditional securities exchanges are calling on global regulators to rein in the growth of tokenized securities, especially tokenized private companies [15] Company Performance & IPO - Bitgo's revenue surged nearly four times in the first half of 2025, generating $419 billion, up from a little more than $1 billion during the same period the year before [2][3] - Bitgo's net income dropped to $126 million compared to nearly $31 million a year earlier [4] - FTX bankruptcy estate will initiate distributions of around $16 billion to creditors at the end of the month [6] Tokenized Securities Platform - Ando Finance launched a tokenized securities platform that surpassed $250 million in Total Value Locked (TVL) within 48 hours of launching [9] - Ando Finance's tokenized treasuries products have seen $7 billion in inflows over the last couple of years [11] - Ando Finance's global markets platform makes US publicly traded stocks accessible to investors globally and has $300 million in assets [12] - Ando Finance is partnering with JP Morgan through its Kexus division for tokenized treasury trades and is inching closer to production roll out [22][23] Security Incident - Crypto.com CEO Chris Marcel addressed claims that it didn't properly disclose a 2023 security incident, assuring that the incident was contained within hours and no customer funds were at risk [7][8]