Full SDK integration radically simplifies crypto transfers across leading chains

SINGAPORE, June 20, 2025 /PRNewswire/ — Leading digital identity platform SPACE ID is pleased to announce that Enkrypt, the multi-chain wallet developed by MyEtherWallet (MEW), has integrated its Payment ID solution, which allows Enkrypt users to send crypto to any centralized exchange (CEX) on any chain with just one simple name.

Payment ID replaces clunky 42-character deposit addresses with a human-readable name, like ‘alice’, mapped to all CEX deposit addresses on any chain, drastically reducing the risk of copy-paste errors or wrong address deposits that still plague the web3 space. Payment ID doesn’t even require a domain name – just a simple registration with an email address. 

On top of this, Enkrypt has integrated SPACE ID’s proprietary SDK, which allows wallet users to use any SPACE ID domain name, such as .bnb and .arb, as well as Unstoppable Domains’ native domain, .crypto, for seamless crypto transfers between web3 wallets, including MetaMask.

Harrison Seletsky, Director of Business Development at SPACE ID, says: “We’re excited to be working with two leading infrastructure projects in the web3 space – Enkrypt and Unstoppable Domains – to finally begin creating a more unified and interoperable crypto payments ecosystem.”

SPACE ID’s Payment ID system officially launched in April on MetaMask and Binance. This latest integration marks another step toward making crypto transfers from web3 wallets to CEXs more seamless and secure, ultimately bringing the web3 user experience closer to what users are accustomed to in the web2 world.

Kosala Hemachandra, CEO and Founder at MyEtherWallet & Enkrypt, says: “It has been our goal from day one, nearly a decade ago, to make crypto and web3 easy for normal people to use. Adding multi-chain support for domain names and Payment ID aligns with our vision, and SPACE ID was the perfect partner to continue this endeavor!”

With this integration, Enkrypt becomes one of the first wallets to offer native support for both Payment ID and SPACE ID’s universal identity infrastructure, radically simplifying the crypto transfer process for its users. 

The multi-chain collaboration between three leading payments and digital identity players is just one step in SPACE ID’s mission to unite the web3 space and make it truly interoperable, removing the need for bridging, copy-and-paste errors, and lengthy deposit addresses.

About SPACE ID
SPACE ID is the leading digital identity platform, powering trustless identity solutions for users, AI agents, dApps, and beyond. With over 6.7M registered domains and 2.7M owners supported across BNB Chain, Arbitrum, Ethereum, Story Protocol, and more, SPACE ID is setting the standard for secure and verifiable web3 identities.

To learn more about SPACE ID, users can visit https://space.id/ 

About Enkrypt
Enkrypt is a multichain, self-custodial, and open-source web3 wallet developed by MEW(MyEtherWallet), the same team that has made Ethereum easy and secure to use since 2015. Enkrypt allows users to manage all their crypto assets and access favorite DApps across multiple chains and ecosystems, including Ethereum/EVM, Bitcoin, Solana, Polkadot, and beyond.

Enkrypt enables multichain convenience like never before by allowing account and chain switching with a single click, with one recovery phrase for all accounts. Featuring hardware support, phrase import, and multiple accounts across various networks, Enkrypt is a wallet that goes anywhere users need to go in web3. Welcome to the multichain future.

To learn more, users can visit https://www.enkrypt.com/ 

Press Contacts

SPACE ID
Anna Fedorova
anna@block3.pr 

Enkrypt
Vince Major
VinceM@myetherwallet.com

Contact
Managing Director
Anna Fedorova
Block3 PR
anna@block3.pr 

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South Korea is witnessing a massive surge in cryptocurrency adoption, but not for the reasons many might expect. The real driver behind the boom isn’t a belief in blockchain innovation or faith in Web3—it’s the South Korea crypto crisis that’s gripping an entire generation of young people struggling to survive in a broken economic landscape.

With over 16 million registered users on local crypto exchanges—more than 30% of the population—crypto has become a lifeline for the youth, not just an investment tool.

Desperation, Not Innovation, Drives Crypto Use

At German Blockchain & AI Week, Eli Ilha Yune, Chief Product Officer at quantum machine learning startup Anzaetek, shed light on the grim reality behind South Korea’s crypto explosion. Speaking on the “Asia Insights” panel, Yune dismissed the idea that crypto’s popularity in South Korea stems from the same ideological or technological enthusiasm found in the West.

According to Yune, young Koreans are not flocking to digital assets out of belief in blockchain’s future—they’re doing it because they have no better option. “They’re seeking quick money,” he explained, attributing the crypto boom to financial despair rather than innovation.

The Role of Political Change and Policy Shifts

The South Korea crypto crisis is unfolding amid significant political transition. Newly elected President Lee Jae-myung has begun implementing campaign promises to integrate digital assets into the country’s financial system.

Plans are underway to issue a Korean won-based stablecoin, a move that South Korea’s central bank does not oppose. These efforts aim to legitimize crypto at the institutional level, but they also risk encouraging even more speculative behavior among desperate retail investors.

The Economic Reality Behind the Crypto Craze

South Korea’s youth face staggering economic hurdles. According to the 2025 Korea Wealth Report, the so-called “young rich” hold three times more crypto than their older wealthy counterparts. Moreover, 34% of the country’s high-net-worth individuals already have exposure to crypto assets.

But these figures don’t tell the full story. Yune emphasized that most young investors are not well-versed in the underlying technology or market mechanics of crypto. Instead, they’re turning to it as a last resort in a country where traditional paths to wealth—like home ownership or stock market gains—are increasingly out of reach.

Youth Unemployment and the Housing Crisis

Unemployment among South Koreans aged 15 to 29 currently stands at 6.6%, more than double the national average of 2.7%. This means that even highly educated individuals are struggling to find stable employment.

Meanwhile, the housing market has become an insurmountable barrier. The median price of an apartment in Seoul has doubled over the last five years, reaching over 1 billion won (about $689,000). The price-to-income ratio in the city now sits at 15.2, among the highest in the world.

“They cannot buy houses anymore, or even the rent is too high for them,” Yune said. “So their only option is to do crypto.”

The Risks of a Speculative Lifeline

Yune’s comments paint a troubling picture. Many young Koreans entering crypto do so without understanding blockchain, smart contracts, or even basic trading strategies. For them, cryptocurrency isn’t a revolutionary technology—it’s a lottery ticket.

This disconnect underscores the deeper South Korea crypto crisis—one rooted in systemic economic inequality, lack of opportunity, and a broken housing market.

While political moves like institutional crypto integration and stablecoin initiatives may stabilize the system in the long run, they do little to address the desperation driving so many young Koreans into volatile and risky financial territory today.

As the world watches South Korea’s crypto boom, it’s crucial to remember: this is not just a tech story. It’s a human one—fueled by real-world pain, disillusionment, and the search for a way out. Without structural reforms in employment and housing, crypto may remain less a solution and more a symptom of systemic crisis.

If policymakers fail to address these root causes, the country risks anchoring its future economic hopes to volatile digital assets—a fragile foundation for any society. The South Korea crypto crisis is a wake-up call, not just for Seoul, but for any nation grappling with generational inequality and economic stagnation.

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A forgotten toy company just exploded onto the crypto scene, and it’s all thanks to a Trump crypto investment that turned $5 million into $127 million overnight. SRM Entertainment (NASDAQ:SRM), once known for selling Smurf-themed tumblers and plush koalas, is now making headlines as one of the hottest speculative crypto stocks of the year.

How did this happen? In short: a surprise pivot into cryptocurrency, a rebrand as “Tron Inc.,” and the involvement of political and crypto heavyweights including Justin Sun and Trump family associates.

A Forgotten Toy Brand Reborn as Tron Inc.

SRM Entertainment flew under the radar until early 2025. Then, in a bold move, the company announced it would pivot into the cryptocurrency space while still maintaining its toy business. The company also announced that controversial crypto entrepreneur Justin Sun would join as an adviser.

Investors went wild.

SRM shares soared from under $2 to over $9 in less than a week, eventually stabilizing above $7. That meteoric rise was fueled by speculation, a celebrity crypto connection, and what many saw as the ultimate convergence play: physical toys backed by digital tokens.

But the real story is what happened behind the scenes—and who profited the most.

Dominari Holdings and the Trump Crypto Connection

The biggest winner in this Trump crypto investment story was American Ventures LLC Series III SRM, a fund managed by Dominari Holdings. Dominari is no stranger to controversial moves. Originally a biotech firm, it reinvented itself as an investment bank just three years ago—and has since built a portfolio of crypto-adjacent companies.

Trump family ties run deep. Both Donald Trump Jr. and Eric Trump are listed as advisers to Dominari. While they weren’t directly involved in the SRM deal, the optics have drawn attention. Dominari’s headquarters? Trump Tower.

In May 2025, Dominari helped American Ventures buy $5 million worth of SRM shares. When the stock exploded this week, that investment was suddenly worth $127 million. Add to that millions in warrants given to Soo Yu—who both manages the fund and is married to Dominari’s president—and you get one of the most profitable Trump crypto investments of the year.

Justin Sun Adds Fuel to the Fire

Justin Sun, founder of the TRON blockchain and a well-known figure in the crypto world, also played a key role in driving SRM’s transformation. Although he’s still facing legal trouble from a paused SEC lawsuit, his involvement gave the pivot credibility in the eyes of many investors.

According to SRM CEO Richard Miller, Sun is “an impact player in this space.” His presence as an adviser adds both hype and controversy to the rebranded Tron Inc. project.

Under this new vision, SRM plans to continue producing licensed toys while building a reserve of digital tokens tied to Sun’s TRON ecosystem—a hybrid business model that blurs the lines between tangible goods and speculative assets.

The Bigger Picture: Crypto, Politics, and Profit

This Trump crypto investment story is just one chapter in a larger trend. Dominari Holdings has already launched other crypto ventures, including World Liberty Financial and American Bitcoin—companies that also boast Trump-connected leadership.

The success of SRM shows how politically connected firms are finding new ways to cash in on the volatile but lucrative crypto space. It’s no longer just about tokens or blockchain. It’s about image, influence, and timing.

While SRM’s long-term viability remains uncertain, its overnight transformation from a dusty toymaker to a $100M+ crypto darling proves one thing: in today’s markets, the right mix of politics, celebrity, and crypto buzz can create incredible—and incredibly risky—opportunities.

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HAMILTON, Bermuda, June 19, 2025 /PRNewswire/ — GRVT, the world’s first licensed onchain exchange, is teaming up with rhino.fi, a leading intent based liquidity network for seamless cross-chain access experience across both EVM and non-EVM networks. Users can now deposit to and withdraw from GRVT directly using BSC, Arbitrum, Solana or TRON via rhino.fi, which can expand to over 30 chains supported by rhino.fi in the future.

Only one week after the integration’s soft launch, a transaction volume of 500K was achieved. This growth is expected to accelerate as user confidence increases.

As part of a wider DeFi TVL surge (over $2.4 billion in TVL added to derivatives protocols in the past year), GRVT crossed a major milestone, hitting $8 billion in total trading volume, according to DefiLlama.

Average spreads on GRVT have also been significantly tightened since its Mainnet launch, meaning better liquidity, lower slippage, and more value per trade for traders, as noted on GRVT’s X account.

Hong Yea, co-founder and CEO of GRVT, commented, “Our partnership with rhino.fi marks an important step toward seamless self-custodial trading onchain. By enabling users to bridge assets directly into GRVT from across chains, we’re tearing down the technical and accessibility barriers that have long held back true DeFi adoption. For the GRVT and rhino.fi communities, this means faster onboarding, broader access, and a frictionless trading experience without compromising the custody of user funds.”

rhino.fi co-founder and CEO Dan Yanev added: “GRVT exemplifies the promise of appchains, combining high performance with regulatory readiness. At rhino.fi, we’re proud to connect GRVT to the broader DeFi ecosystem through instant, zero-slippage transfers.”

Starting June 23, the two platforms will host a joint campaign to incentivize users bridged via rhino.fi, with a share of up to 12,000 USDT and 700,000 GRVT Points for grabs. Users can earn rewards simply by bridging into GRVT and trading during that window. Full details will be available on GRVT’s and rhino.fi’s social media channels.

Disclaimer: Perpetuals trading of cryptocurrencies is subject to high market risk and price volatility and you may be called upon at short notice to commit further margin deposits or risk being liquidated. This content is not a distribution of, or an offer or solicitation to provide, financial services or products, nor a representation as to their suitability or legality for you. GRVT is not a regulated entity and your funds are not subject to regulatory protection. Before making any decision based on this content, please seek financial and legal advice, and carefully review our Risk Disclosure and Disclaimer in full.

About GRVT

GRVT (pronounced “gravity”) is the world’s first licensed onchain exchange, where traditional banking meets decentralized innovation on one regulated, compliant, and trustless financial market place.

A blockchain-based platform that is democratizing how wealth is created and shared, GRVT allows everyday people to trade, invest, and grow their wealth by providing direct access to top industry traders and investors.

GRVT official website: https://grvt.io/
Social and Community: X | LinkedIn | Telegram | Discord

About rhino.fi
rhino.fi is a cross-chain bridge and liquidity network focused on high-speed and low-cost transfers of stablecoins between 35 different blockchains. rhino.fi has served 2.3m customers, processed more than $4bn in transaction volume and has been invested in by Bitfinex/Tether and LightSpeed Venture Partners.

rhino.fi official website: https://rhino.fi/
Social and Community: X | LinkedIn | Telegram

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IP crypto price continues to fall after early hype wears off, with weak adoption, macro pressure, and profit-taking weighing on Story Protocol’s token.

Why Is the IP Crypto Price Falling Today?

After a promising launch and an explosive price rally, the IP crypto price tied to the Story Protocol is facing a sharp and sustained decline. On June 19, the token fell another 8.74%, deepening a month-long drawdown of more than 35%.

From its all-time high of $7.33 just weeks after launch, IP has now lost about 65% of its value, trading under $2.60. What began as a breakout altcoin success story is quickly turning into a cautionary tale of early hype fading amid weak fundamentals.

Broader Market Conditions Are Weighing on Altcoins

The entire crypto market has experienced turbulence over the past month, largely due to macroeconomic uncertainty and geopolitical tensions, particularly the ongoing Iran-Israel conflict. While Bitcoin (BTC) and Ethereum (ETH) have held relatively steady—down 1.2% and up 0.49% respectively during the same period—smaller altcoins like IP have taken a bigger hit.

According to CoinMarketCap, altcoin dominance (excluding ETH) has plummeted in June, falling from 27.2% to just 2.6%. Meanwhile, Bitcoin’s market dominance has risen, signaling a clear flight to safety among crypto investors.

With risk appetite shrinking, speculative tokens are among the first to be sold off. The IP crypto price, once buoyed by launch euphoria, is now a victim of that shift.

The Launch Hype Has Worn Off

It’s not unusual for new tokens to see massive gains in the days following a debut, especially if backed by major investors. Story Protocol launched with strong support from notable names like a16z and Samsung Next, raising $140 million ahead of its token release.

Its core mission—to bring the $61 billion intellectual property market on-chain—struck a chord with the Web3 community. The protocol allows creators to register content, tokenize it, and set custom licensing rules, opening the door to decentralized monetization models.

But early excitement isn’t translating into sustained use.

Weak Fundamentals Undermine Price Support

Despite bold promises, on-chain data paints a worrying picture. According to DeFiLlama, the Story Protocol’s total value locked (TVL) has dropped to just $11.25 million. Daily chain fees and app revenue are negligible, signaling minimal user engagement and a sluggish ecosystem.

Without significant traction in its user base or applications, the IP crypto price is left exposed to volatility and investor exits.

Simply put, if people aren’t using the platform, the token has limited utility—and that’s reflected in its recent performance.

What Needs to Happen for IP to Recover?

For the IP crypto price to stabilize or regain upward momentum, Story Protocol must attract real adoption. This means onboarding more creators, developers, and consumers who actively engage with the platform’s tools for content registration and licensing.

It will also require better integration into existing content ecosystems, partnerships with media or publishing companies, and clearer value propositions for token holders.

Until those developments materialize, the token will likely remain under pressure, especially in a market that’s leaning risk-off.

Final Thoughts: Story Protocol’s Road Ahead

The fall in IP crypto price is a clear reminder that investor hype alone cannot sustain a token’s value. While Story Protocol’s mission is ambitious and well-funded, it faces the same fundamental challenge as most blockchain projects: real-world adoption.

If the team can deliver on its vision of bringing intellectual property on-chain—and build a thriving user base around it—there’s potential for a turnaround. But for now, the market is demanding more than just a flashy launch and big-name backing.

As investors shift their focus toward utility and execution, the Story behind IP will need more than good intentions to earn back market trust.

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