Hyundai, the world’s third‑largest automaker, became the first major South Korean company to use the Avalanche blockchain for live cross‑border treasury transfers, moving $20,000 from its U.S. subsidiary to its Mexico subsidiary via the USDT stablecoin, a process that took about seven minutes compared with three to four hours using traditional banking.

The implementation represents a shift of stablecoin technology from speculative trading to corporate treasury management. Large enterprises are increasingly testing stablecoins to reduce cost and time associated with international payments, as noted by Lindsey Einhaus, strategy head at Bridge, speaking at Consensus Miami in May.

Hyundai Card reported that the transfer took an average of seven minutes, down from the three to four hours typical of conventional banking channels. The firm plans to expand the system to additional cross‑border corridors and currencies, and a second pilot involving European subsidiaries is scheduled to begin later this month, in partnership with Circle and Visa, to evaluate local currency transfers and foreign‑exchange conversion costs.

The European pilot will assess the scalability of stablecoin‑based transfers for enterprise use cases, with findings expected later this year.

AscendEX announced its shutdown on July 1 and said it lacks authorization under the EU’s Markets in Crypto‑Assets framework, leaving customers uncertain about fund recovery. EU rules that took effect on July 1 require crypto service providers to obtain a MiCA licence; the deadline has prompted a wave of unlicensed exchanges to cease operations. AscendEX cited financial and operational pressures, including a failed strategic transaction intended to secure liquidity, as reasons for the closure. Automated withdrawal processing was paused on July 6, and all withdrawal requests now require manual review of identity, sanctions, fraud, balance reconciliation, network status and any legal or insolvency considerations. The exchange warned that some withdrawals may be delayed, face additional checks or be rejected, and that customers have no firm payment date or guarantee of full repayment. It also noted that a counterparty failed to complete a transaction that would have provided liquidity, and that it is assessing its financial position, with unresolved balances potentially subject to formal insolvency proceedings. Information about the legal entity that holds customer assets and the jurisdiction for any insolvency case has not been disclosed, and the company has not revealed the number of pending withdrawals, the amount of assets at stake, or a timeline for further communications. European Securities and Markets Authority (ESMA) instructed unauthorised providers to stop onboarding EU clients after the MiCA transition, allowing only services needed for an orderly exit. Withdrawal concerns had been noted earlier; on June 26, on‑chain analyst ZachXBT highlighted reports of delayed or incomplete withdrawals and advised users not to deposit, and on July 6 he said multiple users experienced suspended withdrawals, though his claims about specific balances and losses have not been independently verified. Customers are advised to stop sending new deposits, ensure their know‑your‑customer information is complete, export transaction histories and retain documentation of withdrawal submissions, though these steps do not ensure processing or payment. Uncertainty about when withdrawals will resume and whether the exchange can fully repay its users remains unresolved.

On July 9, Phantom submitted a letter to the CFTC requesting clarification on rules it says impede fintech firms from using registered derivatives markets. Phantom asked that protocol developers avoid triggering registration requirements for on‑chain software, that registered exchanges and clearinghouses receive a clear path to execute, margin and recordkeeping functions on public blockchains, and that non‑custodial wallets not be treated as introducing brokers when they provide only technical market access. The letter also outlined conditions such as conflict disclosures, risk disclosures, independent user access, and recordkeeping and marketing controls. The CFTC’s Market Participants Division issued Phantom no‑action relief on March 17, meaning staff would not recommend enforcement if Phantom failed to register as an introducing broker for software that provides access to registered futures commission merchants, introducing brokers, and designated contract markets. The relief is non‑binding and may be modified, suspended, or terminated. Phantom proposes that regulated perpetual futures and event contracts could be accessed through a wallet app that users already use to hold tokens. The wallet would serve as a front‑end interface; orders would be routed directly to registered entities that hold assets and execute trades. Custody would remain with brokers, futures commission merchants, or exchanges, and the wallet would not hold margin or customer funds. The CFTC’s May 29 advisory warned that continuous trading on blockchain networks, stablecoins, and smartphone apps can create risks such as reduced liquidity, wider spreads, increased manipulation risk, and operational and cybersecurity challenges. It noted that most consumer‑facing apps are only beginning to build the surveillance capabilities required for real‑time monitoring. Coinbase and Kalshi began offering regulated perpetual crypto futures to U.S. investors in May, marking the first availability of such products on domestic regulated exchanges. Global perpetual futures trading volume reached $61.7 trillion in 2025; a 1 % shift into regulated U.S. channels would equal about $617 billion, and a 5 % shift would exceed $3 trillion. A bullish outcome would see broader CFTC guidance allowing many wallets to connect directly to registered venues, increasing distribution power for wallets and potentially reducing reliance on offshore venues. A bearish outcome would maintain limited access, with U.S. users needing broker or exchange accounts for regulated products while on‑chain perpetuals remain offshore or geofenced, preserving the role of traditional brokers and exchanges.

The Securities and Exchange Commission has placed more than 24 prediction‑market ETF applications from issuers such as Roundhill, Bitwise and GraniteShares in regulatory review, delaying their launch beyond the standard 75‑day automatic effectiveness period.

The proposals would allow investors to bet on the outcomes of the 2028 presidential race, the 2026 Senate and House control, and on price targets for assets such as Bitcoin at $100,000, Ethereum at $3,500 and crude oil futures for 2026.

The SEC requested additional clarification on fund mechanics, valuation, liquidity and investor disclosures. Issuers explain that the underlying event contracts settle at $1 if the tracked outcome occurs and $0 otherwise, with pricing reflecting the implied probability of the event. Some funds could treat an outcome as effectively decided once a contract trades above $0.995 or below $0.005 for five consecutive trading days, permitting early recognition of gains or losses and a roll into the next election cycle; this early determination may leave holders with limited recourse if the market’s assessment proves incorrect.

The CFTC, which regulates the underlying event contracts, proposed new rules in June 2026 to review self‑certified contracts tied to areas such as gaming, war, terrorism and assassination, citing concerns about market manipulation, settlement integrity and the potential misuse of non‑public information.

Monthly trading volume on platforms including Kalshi and Polymarket peaked at nearly $13.7 billion in June 2026, driven by the FIFA World Cup. A small migration of that volume into regulated ETF channels could represent billions of dollars of assets, a fraction of the $15.7 trillion total U.S. ETF market.

Approval would integrate prediction‑market exposure into mainstream brokerage accounts, but unresolved settlement and investor‑protection issues keep the products in regulatory limbo.

South Korea's Gyeonggi Province will begin a government‑backed blockchain stablecoin pilot in August, initially testing issuance, circulation and settlement before evaluating fraud prevention, privacy and public‑sector use through February 2027. The pilot, led by ZKrypto, will employ zero‑knowledge proofs to prevent double‑spending and real‑time proof‑of‑reserves verification. Toss and KT have also launched separate projects to develop won‑based stablecoin infrastructure, and Toss has entered a three‑month proof‑of‑concept with Optimism and Sunnyside Labs to assess blockchain suitability for regulated payments. KT plans to invest 18 trillion won over three years, including 6 trillion won in AI infrastructure and 12 trillion won in network, IT and cybersecurity upgrades, with tokenization services included. The initiative reflects coordinated efforts by government, financial technology firms and telecommunications providers to explore domestic stablecoin use in public administration and regulated payment systems.

Robinhood said eligible US‑based crypto traders will soon be able to connect third‑party AI agents to execute trades on their behalf. The announcement was made during a presentation on Friday. The feature builds on a similar tool that was rolled out for equities and options traders in May. Robinhood has not set a launch date, but indicated that the service will be available to its UK customers next. Johann Kerbrat, senior vice president and general manager of crypto at Robinhood, said the agents can create strategies with specific guardrails. They are also designed to reduce the need for constant account monitoring. Eligible users will be able to link agents from providers such as Anthropic, OpenAI and SpaceX’s Grok. The platform also plans to let AI agents make credit‑card purchases on users’ behalf. Robinhood’s crypto strategy includes the launch of its Ethereum layer‑2 network. The network processed 17 million transactions from nearly 350,000 wallet addresses in its first week. Since the beta launch of the AI agent product for equities and options in late May, more than 70,000 agentic accounts have been created. AI agents are intended to give retail investors access to data that institutions have traditionally used, potentially narrowing the gap between retail and institutional trading. Several integrations have emerged in recent months, including Amazon Web Services’ integration of Coinbase’s x402 payments protocol into its Bedrock AgentCore, which enables agents to spend USDC stablecoin. Crypto wallet Oobit also launched a Visa‑supported virtual card that lets AI agents spend USDT for businesses. Artemis data shows that AI‑agent transaction volume on the blockchain remained limited, with only about $2 million processed through the x402 protocol in June. Industry executives such as Coinbase CEO Brian Armstrong and Circle CEO Jeremy Allaire have suggested that AI agents will become the primary users of blockchain payments in the coming years. While the new feature expands Robinhood’s offering, the overall scale of AI‑driven crypto activity is still small relative to total crypto trading volume.

The 21st Century ROAD to Housing Act, which contains a provision barring the Federal Reserve from issuing a central bank digital currency or any substantially similar digital asset until December 31, 2030, is scheduled to become law without President Donald Trump’s signature. The bill will have been on the president’s desk for 10 days, excluding Sundays, the maximum period allowed before automatic enactment under the Constitution.

Congress passed the housing bill in June with bipartisan support. The language prohibiting the Fed from creating a CBDC was added as part of negotiations to secure Republican votes. Trump canceled a signing ceremony on June 24 and, in a social media post, said he would not sign the bill and criticized the Republican lawmakers who supported it, urging the Senate to focus on the SAVE America Act, which would require in‑person presentation of citizenship documentation for voter registration. Critics said the voting bill could disenfranchise eligible voters.

The housing bill passed the House and Senate with votes from both parties. Analysts noted that the CBDC ban was likely intended to appease Republican legislators. Trump did not mention the ban in his post. Senator Elizabeth Warren said the bill would become law regardless of Trump’s action. The legislation also includes provisions related to housing assistance and other policy measures. The CLARITY Act, a separate proposal to establish a regulatory framework for digital assets, has cleared the House and two Senate committees and is expected to receive a floor vote in July. Trump’s past statements about future‑proofing digital asset regulations and his financial ties to crypto ventures, including $1.4 billion in crypto‑related income reported for 2025, have complicated bipartisan discussions on the market structure bill.

Whether Trump’s decision to let the housing bill become law without his signature will affect the prospects of the CLARITY Act remains uncertain.

Bitcoin’s four-year halving cycles have historically produced new all-time highs, but each peak has been lower than the previous one. The first halving occurred in 2012, and the fifth is scheduled for April 2028. Prices have tended to bottom out and rise in the 18 months before a halving, peak about 16 to 18 months after the halving, and then enter a longer bear market, completing a four-year cycle. The next cycle is expected to peak in 2029.

Analysts have projected prices between $300,000 and $500,000 for the 2029 peak. Peter Brandt, a veteran trader, has said he expects a peak in that range. Bernstein analysts Gautam Chhugani and Mahika Sapra have projected $500,000 by 2029, citing growing demand for spot bitcoin ETFs.

Data from previous cycles illustrate the trend. In 2013 the price reached $26,620, compared with nearly $20,000 in 2017, a 75-fold increase. In 2021 the price was about $69,000, a 3.5-fold increase from 2017. In 2025 the price rose to $126,000, a 1.8-fold increase from 2021. The projected increase to $300,000 would require more than a two-fold rise from the 2025 level.

Institutional participation, including spot bitcoin ETFs, futures, options, and other derivatives, has increased market liquidity and reduced volatility. The asset’s growing size means that larger capital inflows are needed to move prices substantially. Even with extensive fiscal and monetary stimulus after the 2020 pandemic, the previous cycle lifted bitcoin to nearly $70,000, about 3.5 times the 2017 level. The 2025 high, supported by ETF flows, achieved a 1.8-fold increase.

These patterns suggest that bitcoin is maturing and becoming less prone to parabolic rallies. Future price movements may be more measured than earlier cycles.

Bitcoin has traded between $60,000 and $70,000 for 307 days, making it the third longest consolidation in any $10,000 price range in its history, according to Glassnode data. The price has stayed above its 200‑week moving average of roughly $62,873, a level that historically signals short‑term trend strength. As of July 10, 2026, Bitcoin was near $64,000, about 50% below its all‑time high reached in October. Glassnode’s Entity Adjusted UTXO Realized Price Distribution shows that about 6% of the circulating supply last moved between $58,000 and $64,000, forming a large on‑chain cost‑basis cluster that may provide support near current prices. Whether the range will break higher or lower remains uncertain.

Kraken introduced an AI investing assistant that provides personalized portfolio recommendations and market insights, requiring user approval before any trade is executed. The new mobile experience replaces a trading‑first interface with a goal‑based approach that asks users about their financial objectives before suggesting investments. The assistant uses users’ financial goals, risk tolerance, funding preferences and market data to generate suggested portfolios. Kraken’s financial intelligence system continuously monitors market conditions, identifies potential opportunities and proposes trades. Every proposed trade must be approved by the user, and Kraken describes the tool as a decision‑support feature rather than an autonomous trading system. Chief data officer Kamo Asatryan said the technology aims to give everyday investors market awareness comparable to the exchange’s most active traders. He added that the plain‑English interface lets users act on high‑frequency style insights without needing advanced technical knowledge. The launch follows similar AI integrations by OKX, which introduced a beta marketplace for AI agents to perform on‑chain tasks, and Coinbase, which added a tool that lets AI agents trade and make payments through its x402 protocol. Chainalysis reported that agentic payment activity on Coinbase’s Base network exceeded 100 million transactions, with average transfer values rising. Revolut expanded its Revolut X exchange to allow customers to connect external AI assistants such as Claude, Gemini, Cursor and OpenClaw, which can analyze markets, backtest strategies and submit orders. Like Kraken, Revolut requires users to review and approve each order before execution, keeping human control central to AI‑assisted trading. The broader trend of AI integration across crypto exchanges raises questions about the balance between automation and user oversight as capabilities evolve.

Hong Kong's Securities and Futures Commission has set a July 8, 2027 deadline for licensed virtual asset service providers and internet brokers to replace one‑time passwords with phishing‑resistant authentication for client logins and new device registration, according to a July 9 circular.

The regulator said one‑time passwords do not meet the required security standard for those processes and should not be used when clients log in or bind a new device. The rule applies only to those two situations; existing client sessions remain unaffected. Large internet brokers are expected to implement the new methods immediately, while the broader group of licensed platforms has a 12‑month implementation period.

Firms must review client notifications, account monitoring, surveillance and incident‑response procedures, and they are required to suspend or restrict accounts when signs of fraud are detected. The SFC also requires firms to monitor irregular logins, new‑device activity, trading patterns that deviate from a client’s history, and large‑value withdrawals. Clients should receive prompt notifications of successful logins and of high‑risk changes such as new device registrations or passkey creation or revocation. Passkeys use public‑key cryptography, requiring a private key stored on the user’s device or a passkey manager, and may be combined with additional verification factors such as biometrics or account passwords. Device binding may also incorporate robust verification mechanisms.

The SFC said firms can be held accountable for client losses if inadequate measures fail to prevent, detect or stop large‑scale unauthorized transactions after a hacking incident. Senior management overseeing operations and information technology is ultimately responsible for the rollout, with the deadline serving as the final test of compliance.

Zcash (ZEC) rose above $500 on July 28 as open interest reached $1.02 billion and traders increased exposure ahead of the Ironwood network upgrade, scheduled for activation at block 3,428,143. The upgrade follows a May disclosure of a vulnerability in the Orchard shielded pool that developers said could have permitted counterfeit ZEC to enter circulation, although no such exploitation was reported. Open interest grew 27.3% to $1.02 billion, and trading volume rose 49% to $1.98 billion, reflecting increased leveraged positions. The price had fallen to about $368 in late June before climbing past the 61.8% Fibonacci retracement level at $459.71 and the 78.6% level at $484.63, leaving $516 as the next resistance. The 4‑hour MACD stayed positive with the MACD line above the signal line, and the RSI hovered near 65, indicating sustained buying momentum. The daily Aroon Up indicator registered 100% and Aroon Down was near 14%, a pattern that typically signals a prevailing uptrend. Analyst Ardi stated that a move above $510 would invalidate the current swing resistance and could lead toward $540, while Bitcoin’s recovery above $64,000 and modest gains in ether and XRP have supported overall market sentiment. The Ironwood upgrade will retire the Orchard pool and introduce a redesigned shielded pool with formal verification, external security audits and quantum‑resistant note designs, aiming to improve confidence in private transactions.