BNY Mellon and Galaxy Digital announced on Tuesday a partnership to integrate institutional cryptocurrency staking into BNY’s digital asset custody platform, allowing eligible clients to earn staking rewards without transferring assets out of custody. BNY Mellon, one of the largest U.S. banks, has been offering regulated custody for Bitcoin and Ether and has expanded its digital asset services to include tokenized fund administration and onchain record‑keeping. Galaxy Digital, a crypto‑focused investment firm, will supply the staking infrastructure and act as a design partner for the broader platform. Under the agreement, institutional clients will be able to stake supported proof‑of‑stake assets while retaining them in BNY’s custody framework. The companies have not disclosed which digital assets will be included. The arrangement is intended to combine custody, staking, reporting and tax services into a single offering, a capability the firms said could streamline digital asset operations for institutions. The partnership represents an expansion of BNY Mellon’s effort to embed digital assets within traditional financial infrastructure.
Bitcoin, Ethereum, regulation, and the forces moving digital assets.
Samsung announced it will embed stablecoin functionality, including fiat‑pegged savings and payment accounts, into Galaxy smartphones sold in 61 countries, targeting about 800 million devices.
The integration builds on Samsung’s existing Wallet app, which already has roughly 19 million users in South Korea and is available in 61 countries. Samsung’s $408 million investment in Upbit operator Dunamu and related affiliates aims to develop digital‑asset infrastructure, supporting both dollar‑ and won‑denominated stablecoins as South Korea considers its Digital Asset Basic Act.
At the Galaxy Unpacked 2026 event, Samsung said the new features would be enabled by default on upcoming devices. Industry analysts noted that wide distribution could accelerate stablecoin adoption, though they cautioned that actual user uptake remains uncertain. Joseph Goh of Areta described Samsung’s distribution capacity as a “scarce asset,” while Ben Nadareski of Solstice called the move positive for broader crypto use.
Samsung’s effort positions it as one of the first major handset manufacturers to offer native stablecoins, potentially reshaping how digital value is transferred on mobile devices, but the company has not disclosed expected adoption rates.
Wells Fargo said it will launch tokenized deposit services for select corporate clients this fall, beginning with round‑the‑clock U.S. dollar‑to‑British‑pound exchanges. The offering will use the bank’s own blockchain to settle transactions and will be accessible through its existing client platform. Wells Fargo described the service as enabling round‑the‑clock settlement and programmable payments, allowing clients to move, program and settle funds at any time once fully deployed. The initial rollout will be limited to a group of corporate customers and is expected to broaden to additional clients, countries and currencies throughout 2027. Future capabilities may include conditional payments via smart contracts and integration with custodial wallets and other blockchains, according to the bank. The platform could also connect to a shared tokenized‑deposit network under development by The Clearing House, the Wall Street Journal reported. Wells Fargo has not set a definitive date for full deployment and will evaluate demand before expanding the service.
On October 6, 2025 Bitcoin closed above $126,000 after the United States adopted policies that eased regulatory barriers for cryptocurrency. By July 1, 2026 its price had fallen to around $58,600, a decline of about 33% over the preceding ten months.
For several years regulatory uncertainty limited banking relationships, increased legal costs, and led to the classification of many digital assets as unregistered securities. The SEC pursued lawsuits against exchanges and firms, and many of those cases were later dismissed after the administration shifted its approach.
In January 2025 the White House issued an executive order endorsing the lawful use of public blockchains and stablecoins and establishing a presidential working group. In March 2025 a second order created a Strategic Bitcoin Reserve, using forfeited Bitcoin rather than new purchases, and directed agencies to explore budget‑neutral acquisition methods.
The GENIUS Act, signed in July 2025, set reserve, licensing, and disclosure requirements for payment stablecoins and removed special notification rules for banks. The SEC formed a crypto task force, dismissed its lawsuit against Coinbase in February 2025, and subsequently dismissed six additional cases by April 2026.
Spot Bitcoin ETFs, approved in January 2024, allowed investors to hold Bitcoin through traditional brokerage accounts, eliminating the need for private‑key management. Net outflows from U.S. spot Bitcoin ETFs totaled roughly $3.3 billion in 2026, according to Citigroup, prompting a reduction in 2026 inflow forecasts from $10 billion to zero and a 12‑month price target of $82,000.
Coinbase reported $599.2 million in transaction revenue for the second quarter, down from $764.3 million a year earlier, and recorded a net loss of $359.5 million. Monthly active users fell from 8.7 million to 7.6 million. Treasury companies such as Strategy sold 3,588 Bitcoin for about $216 million between June 29 and July 5, 2026, contributing to an $8.32 billion unrealized loss for the second quarter.
While the policy shift removed many legal obstacles, it did not create new demand. Legal permission and institutional access reduced risk for firms but did not ensure sustained price appreciation. Bitcoin’s valuation remains tied to speculative demand, leverage, and broader market conditions rather than cash flow.
The regulatory environment now provides clearer permission and access for crypto participants, yet it cannot determine the price that future buyers will set. Washington may regulate, permit, and hold Bitcoin, but it cannot dictate investor willingness to pay.
A wallet identified by Lookonchain as linked to Strategy transferred 1,030 Bitcoin valued at roughly $66.14 million on Aug. 5. Strategy has not confirmed that the transfer represents a sale.
Strategy disclosed on Aug. 3 that it sold 1,638 Bitcoin between July 27 and Aug. 2 for $104.73 million, an average price of $63,957 per coin. The proceeds funded $52.4 million in preferred stock dividends and $52.3 million in repurchases of its STRC preferred shares. The company’s filing showed 842,138 Bitcoin holdings as of Aug. 2, and no subsequent filing reduced that figure at the time of reporting.
The transfer followed a two‑day lag after Strategy’s last filing, and the company’s public ledger still listed the same Bitcoin balance. Onchain movement alone does not prove ownership change; a sale would require a disclosed exchange deposit and subsequent trading activity.
MARA transferred 6,000 Bitcoin, worth about $384.6 million, to addresses identified as belonging to Two Prime. Lookonchain said the move does not necessarily indicate a sale and could relate to asset management. MARA, which holds 36,303 Bitcoin, has an established relationship with Two Prime, having invested $20 million in the firm in July 2025 and expanded its managed allocation.
Both movements are pending SEC filings or company statements to verify whether the assets were sold or merely transferred.
XRP traded near $1.07 on August 5 2026, down about 0.9% from the previous day. The price stayed above the $1.05‑$1.06 range that has attracted buyers since late June. The daily chart shows a decline from above $2.50 to about $1.0676. The relative strength index was 43.71, below the 50 neutral level. The MACD line was near negative 0.0110, below the signal line of negative 0.0101, and the histogram stayed slightly negative at about negative 0.0009. CoinGlass data showed open interest at $2.25 billion, the lowest level in six months, and futures volume at $1.35 billion. Leverage fell and funding rates hovered around zero, indicating balanced liquidations without a one‑sided cascade. U.S. spot XRP exchange‑traded funds logged four consecutive days of inflows totaling about $15.4 million, but the net capital did not lift the price above $1.08. Ripple announced strategic investments in ZILO and Licuido on August 3, targeting new transfer agency, token issuance and collateral tools on the XRP Ledger; the amounts were not disclosed. Developers released xrpld version 3.2.1 to restrict untrusted manifest processing after a flood of validator manifests, and no loss of funds was reported. The immediate technical test is between $1.05 and $1.06. A daily close below that range could expose $1.00, while a sustained move above $1.10 would suggest a shift in momentum. Until such a development occurs, XRP remains in a low‑conviction range with reduced leverage.
Texas Governor Greg Abbott directed the Public Utility Commission of Texas and the Electric Reliability Council of Texas (ERCOT) to audit all data centers seeking to connect to the state's power grid, with no set timeline for the review. Analysts from Bernstein said most Bitcoin miners operating in Texas have contracted electric capacity, making them unlikely to be affected by the moratorium. The audit may limit new data center projects and increase the value of existing, grid‑approved capacity, according to the research team led by Gautam Chhugani. Miners such as Cipher Digital, Core Scientific, CleanSpark, IREN and Riot Platforms could face heightened scrutiny during ERCOT approval processes, the analysts noted. Cipher Digital’s shares fell more than 7 % in premarket trading after it reported a second‑quarter loss of $0.65 per diluted share, widening from a $0.12 loss a year earlier.
Bybit Payments GmbH has obtained an electronic money institution license from Austria’s Financial Market Authority, allowing it to provide payment and e‑money services in the European Economic Area, excluding Malta.
The licensing follows Bybit EU GmbH’s authorization under the EU’s Markets in Crypto‑Assets Regulation in May 2025, which permits crypto custody, exchange, and transfer services. Bybit Payments GmbH will develop card products, merchant payment solutions, open‑banking features and person‑to‑person payments through Bybit.eu.
The company stated that the two entities will maintain separate regulatory permissions, with Bybit EU GmbH handling crypto‑related activities and Bybit Payments GmbH managing regulated payment products. Bybit said the new milestone could strengthen relationships with banks, payment providers and enterprises while reducing reliance on third‑party payment infrastructure.
Bybit has not explained why Malta is excluded from the rollout, and the introduction of the new services is pending further regulatory steps.
Bitcoin traded just above $64,000 on August 5, 2026, while major stock indexes closed at record levels.
The price remains about 49% below the $126,000 peak reached in October 2025, and ether slipped to $1,864, down 2% for the week, marking the only decline among major tokens.
BTC rose less than 1% on the day and was essentially unchanged over the past seven days. Ether fell 2% to $1,864, while XRP dropped about 1% to $1.07, dogecoin remained near 7 cents, and tron held at 33 cents. Solana stayed around $73.60, and BNB increased 1% to $598, leading the seven‑day gainers with a 5% rise. Hyperliquid’s HYPE added 3% to nearly $56, also up 3% over the week. The broader equity market saw the MSCI All Country World Index rise 0.4% toward a record, the Asia Pacific benchmark climb 2.2%, and Australian shares reach a new high after the S&P 500 and Dow closed at all‑time highs. SK Hynix gained 6.4% after the Seoul open, Nvidia added more than 2% in after‑hours trading, AMD fell 9% on a soft sales outlook, and SpaceX declined 7.5% on expectations of higher AI spending. Brent crude slipped 1.1% to $78.50 a barrel after reports that the United States, Iran and Oman were close to an agreement to reopen the Strait of Hormuz, with an announcement expected on Wednesday. Treasury yields and gold rose as traders reduced bets on further rate hikes.
The potential Hormuz deal represents the clearest macro catalyst for crypto this week, yet the market’s inability to rally on the prospect suggests buyer interest may remain elsewhere.
Approximately 515,000 BTC, representing more than 3% of the circulating supply, is concentrated around the $63,000 price level, according to Glassnode data. This concentration exceeds the roughly 362,000 BTC held near $61,000. Bitcoin has traded between $60,000 and $67,000 for several weeks, with the $63,000 zone emerging as a key battleground for buyers. The price aligns closely with the 200‑week moving average of $63,657, compared with the current price of $63,822, indicating sustained accumulation in this range. Glassnode’s 30‑day accumulation trend score shows retail investors as the most aggressive buyers, while whales holding at least 1,000 BTC also show strong accumulation activity. A secondary concentration exists between $78,000 and $82,000, where bitcoin peaked in May.
XRP holders can now borrow Ripple’s RLUSD stablecoin on Ethereum by using wrapped XRP (FXRP) as collateral in a new isolated market on Morpho Blue, managed by Sentora, which oversees a $280 million lending pool. The isolated market allows borrowing against XRP exposure without selling the underlying token and is permissionless with no whitelist required. Sentora reviewed FXRP’s market behavior, oracle design, liquidity and liquidation capacity under its institutional risk framework before approving the asset, and the collateral will continue to be monitored like other assets in the vault. Borrowers must mint FXRP through Flare’s FAssets system, bridge it to Ethereum via Stargate, deposit it into the market and select a loan‑to‑value ratio. Flare is developing Smart Account tools that would let users authorize the entire borrowing flow from an XRP Ledger wallet, and direct XRPL‑to‑Ethereum minting is also in development. Flare co‑founder and CEO Hugo Philion told CoinDesk that XRP is one of the largest crypto assets and one of the least used in DeFi, and that institutional risk oversight on Ethereum mainnet adds credibility. The approval creates an isolated FXRP/RLUSD market where any failure would be contained, but the current supply of roughly 155 million FXRP is far below Flare’s target of 5 billion XRP in six months, and the market operates under a conservative supply cap that may increase with usage. CoinDesk has requested details on the supply cap, loan‑to‑value ratio, liquidation threshold and oracle source.
Hyperliquid’s HYPE ETFs recorded no new investor inflows for 12 consecutive trading sessions from July 17 through August 3, 2026, as net outflows totaled $29.8 million. The HYPE ETFs launched earlier in the year, drawing about $161 million in their first month and accumulating roughly $283 million in cumulative flows across three products by August 3, 2026, according to data from Farside Investors. Farside’s August 3 entry showed a $1 million outflow from the HYPG product while BHYP and THYP remained flat. Over the 12‑session period, BHYP accounted for $22.5 million of the outflows, THYP $5.3 million and HYPG $2 million, the firm reported. The nine negative sessions represented the majority of the period, with three sessions showing no net change. During the same span, the HYPE token traded at $53.94, a decline of 4.53% over seven days and 22.82% over 30 days. ETF share prices can move independently of token prices because creation and redemption activities adjust the number of shares outstanding. The next flow report will indicate whether the current drought persists or if investor interest returns, while the products continue to face liquidity and staking risk questions.
Bitwise Chief Investment Officer Matt Hougan said on Aug.
Bitwise Chief Investment Officer Matt Hougan said on Aug. 4 that the crypto industry could continue expanding even if the U.S. Senate does not pass the Clarity Act before its August recess.
The Clarity Act, H.R. 3633, cleared the Senate Banking Committee 15 to 9 on May 14 and now requires sixty votes for cloture to proceed to a floor vote. The Senate schedule for the week of Aug. 4 did not list the bill, and no cloture filing had been announced by the end of the session on Aug. 5.
In a memo to investors, Hougan wrote that crypto “will be fine” without immediate congressional action and said the Securities and Exchange Commission could issue rules that support market growth. He cited SEC Chair Paul Atkins, who said the agency was “ready, willing, and able” to address several matters covered by the legislation. Atkins noted that statutory language would give the SEC stronger protection against future regulatory reversal.
Democratic senators, including Catherine Cortez Masto, Angela Alsobrooks, Cory Booker, Ruben Gallego, John Hickenlooper, Mark Warner and Raphael Warnock, said on July 22 that the updated Republican text falls short on ethics, consumer protection, illicit finance, conflict of interest and market integrity provisions. They requested stronger rules and indicated negotiations would continue.
Prediction markets on Polymarket assign a 23% probability that the bill will become law by Dec. 31, down from 27% earlier, based on trader sentiment.
The bill’s provisions include token disclosures, digital commodity exchanges, customer property protections, stablecoin rewards rules and anti‑money‑laundering requirements. The SEC can amend securities regulations and token offering rules under existing authority, but cannot grant the Commodity Futures Trading Commission nationwide jurisdiction over digital commodity spot markets. Consequently, SEC rules would provide part of the regulatory framework but not a complete structure.
The Senate’s procedural calendar places lawmakers in a state work period from Aug. 10 to Sept. 11. Without a cloture filing, the bill may remain in a “walking dead” status, with consideration possible in September or attached to a year‑end omnibus package, though Senate leaders have not announced such a plan.
The long‑term allocation of U.S. digital asset oversight therefore remains unsettled, with the industry potentially relying on SEC rulemaking while the legislative path stays uncertain.
Alex Thorn, head of research at Galaxy Digital, said at least 15 attackers exploited a vulnerability in Coldcard hardware wallets, resulting in estimated losses of $100 million across three confirmed attack waves and a possible fourth wave that could bring total losses to about $130 million. Thorn explained that the exploit differed from a centralized exchange hack and that a single victim’s report of less than 1 BTC stolen helped identify a new attack in which 12 BTC were taken from 126 addresses. Galaxy Research estimates total losses at $100 million, with a fourth wave potentially adding roughly $30 million. Discussion about the security of cold storage wallets and whether users are safer holding their own Bitcoin has been revived. Dragonfly managing partner Haseeb Qureshi noted that about $2 worth of AI hardening could have prevented the exploit, citing social media reports that AI models reproduced the vulnerability in minutes. Qureshi said results may be influenced by web search and that the open‑source model GLM 5.2 rediscovered the issue in 20 minutes without internet access. Tokenomist data lead Tatsapat Saerejittima responded that the claim of a two‑minute discovery came from a pseudonymous Reddit user after the vulnerability was publicly known, with no blind testing or documented methodology. Castle Labs co‑founder Francesco, who requested anonymity, said Coldcard’s 40‑bit private key entropy, a firmware bug, reduced security compared with the standard 128‑bit seed used by other wallets, making the flaw easier to exploit. Francesco expects the cost and time required to discover such vulnerabilities to decline as AI capabilities improve. The incident underscores ongoing concerns about cold wallet security and the role of AI in vulnerability discovery, with no definitive solution yet.
Poolin Technology and its affiliates filed for Chapter 11 bankruptcy on July 22, proposing to sell two West Texas mining sites for a combined $52 million as part of a plan to address roughly $173.1 million in pre‑petition obligations, including $163.7 million in IOUs owed to about 11,700 wallet holders. The asset sales are being pursued by prospective buyer Thor CALAP LLC, which may terminate the agreements before Aug. 9 if due diligence is unsatisfactory. The court has scheduled a hearing on the bidding process for Aug. 14, with a proposed bid deadline of Sept. 8, a possible auction on Sept. 10, and a sale hearing by Sept. 16. The two packages, known as the Tarbush and Pyote assets, are valued at $37 million and $15 million respectively, with initial cash deposits of $1.85 million and $750,000 already secured. Lonestar Dream Inc. and Lonestar Taproot LLC currently hold the assets, while Poolin’s direct cash holdings total about $1.2 million, an office lease, and an intercompany claim against the two Lonestar entities. Mining and hosting operations at the sites were halted on July 10, and the debtors have indicated no intention to resume them. Additional expressions of interest have been filed, but no qualified competing offers have been confirmed. The amount available to wallet creditors will depend on estate‑specific claims, liens, taxes, professional fees, and the treatment of Poolin’s intercompany claim, all of which remain unresolved. Whether Thor remains engaged past the Aug. 9 deadline, whether the court approves the sale process, and whether competition influences the final price are the key variables that will determine the recovery percentage for wallet holders.
Gelephu Mindfulness City in southern Bhutan has hired Toronto‑based 3iQ to manage a portion of its bitcoin treasury. The firm will employ a low‑risk, market‑neutral investment strategy intended to generate long‑term returns. The size of the mandate has not been disclosed. 3iQ said the arrangement is meant to create jobs for Bhutanese youth and build technology and finance skills, though specific programs are still being designed. GMC declined to reveal the amount of bitcoin under management or the precise strategy selected. A market‑neutral approach may involve basis trades and lending and typically yields at least five percent annually. In December, Bhutan’s king pledged up to 10,000 BTC, then valued at about $1 billion, as a long‑term asset for the city’s development; the method of allocation remains under review. On‑chain analysis shows roughly $1 billion has moved from wallets associated with the sovereign fund, but the origin of the assets being managed has not been identified.
A proposal by six Ethereum researchers would increase the share of validator rewards that are burned as the amount of staked ETH rises, targeting a point where about half of the total supply is staked and net issuance drops to zero.
The plan would phase in over roughly two years, affecting only newly issued ETH while preserving transaction fees and tips. It would reach a 100% burn rate when roughly 60.25 million ETH, or about 50% of supply, are staked.
Currently about 41 million ETH, or 34% of supply, are staked, with an additional 2.5 million awaiting activation. The burn rate would rise gradually to 100% as staking approaches the cap, while transaction fees and tips remain unchanged.
Researchers say high staking levels could concentrate ETH holdings in exchanges and staking providers, reducing decentralization and network security. Aave Labs CEO Stani Kulechov said the change would make ETH borrowing strategies unviable, and ether.fi founder Mike Silagadze warned it could push large capital out of DeFi and limit solo stakers.
The authors note the proposal may miss inclusion in the upcoming Hegota upgrade scheduled for the second half of 2026, as it lacks broad consensus and requires a 300‑line implementation draft.
Proof of Play announced on Aug. 4 that it will cease operations after failing to build a scalable, sustainable Web3 gaming business. The company raised $33 million in September 2023, led by venture firms a16z and Greenoaks, and launched Pirate Nation, a fully onchain role‑playing game, describing blockchain as a means to give players lasting ownership. Proof of Play said it could not develop a product or business model that validated its thesis at scale. The company did not disclose a closure date, the number of employees affected, its remaining financial position, the buyer of the mobile game Shiba Story Go, or the terms of the acquisition. Four public GitHub repositories preserve Pirate Nation code, smart contracts, artwork and an internal coordination tool; the repositories are released under MIT or CC0 licences. The Pirate Nation Foundation, an independent entity, said it will continue supporting the $PIRATE token and its staking service. The token fell about 14 % in 24 hours, trading near $0.00112 with a market value of roughly $803,000 and daily volume near $209,000. Shiba Story Go remains listed on Google Play and Apple’s App Store, with the developer name still showing Proof of Play. The statement leaves the token ecosystem active but ends the company that developed the central products; further details on repository maintenance and the foundation’s plans are pending.
Western Union and Rain launched the Stablecard product on August 4, giving customers in 37 markets the ability to receive, hold and spend the USDPT stablecoin via a Visa card.
The card links USDPT, issued by Anchorage Digital Bank on the Solana blockchain, to the Visa payment network, enabling transactions at merchants and cash withdrawals at ATMs.
Rain built the mobile application, wallet and card infrastructure, and its case study notes that Visa coverage reaches more than 175 million merchant locations worldwide.
The product is available through dedicated apps on Apple’s App Store and Google Play, requires identity verification, and does not require a credit check or minimum balance.
Funding can be sourced from a compatible crypto wallet or exchange, or through a cash‑redirect feature that converts eligible Western Union remittances into USDPT.
Western Union reported a 25 percent increase in digital transactions during its second quarter, while overall revenue declined 1 percent to about $1 billion.
Anchorage Digital Bank publishes monthly independent reserve attestations; the June 30 report listed $122,245 in reserve assets, of which $3,116 was cash and $119,129 was a money‑market fund, while on‑chain data showed approximately 5.92 million USDPT outstanding.
The companies have not disclosed transaction volume, active user numbers or revenue for Stablecard, and expansion plans target more than 60 markets by the end of the year.
Adoption will be measured by user uptake, payment volume, market coverage and forthcoming reserve disclosures.
Six Ethereum researchers and developers, including Justin Drake of the Ethereum Foundation, have drafted a proposal informally labeled EIP-8363 to modify the network’s issuance policy. The plan would cut validator rewards as the proportion of staked ETH rises toward a threshold of 60.25 million ETH, which represents about 50% of the current supply.
Staking currently accounts for about 33% of the total ETH supply, a level that has risen since April. Under the current issuance curve, staking yields remain above 1.5% even if all ETH were staked, and the annual issuance rate peaks at roughly 0.5% of supply when the staking ratio is about 20%.
The draft proposes that an increasing share of consensus rewards be burned as the staked ETH amount approaches 60.25 million ETH, reducing rewards to 0% once the threshold is reached. The adjustment is intended to phase in over 18 months, after which annual issuance would decline to zero, aligning with the goal of limiting dilution.
Proponents argue that the change would preserve the neutrality of ETH as a store of value and limit dilution. de Tychey said the current issuance model creates a perpetual incentive to stake, which could lead to concentration of holdings in large custodians and liquid staking providers.
Critics contend that the reduction could deter solo validators, whose operating costs are higher relative to rewards, and could diminish institutional demand for ETH, thereby affecting DeFi borrowing activity. Stani Kulechov said the proposal does not achieve its intended outcome and could hurt Ethereum. Mike Silagadze said the proposal may push out solo validators and concentrate staking among large, centrally controlled entities.
de Tychey said on the Ethereum Magicians forum that users of large staking providers must pay fees, making those services less attractive as rewards fall, though he acknowledged the research on this point is contested.
Grayscale’s head of research Zach Pandl said limiting staking incentives would be positive for the price of Ether over time.
The proposal was published two days before the August 6 deadline for additional EIP submissions targeting the Hegota upgrade, prompting concerns about the adequacy of review time. Ethereum community organizer Trent Van Epps noted that the upgrade selection process may continue until November 8, with mainnet activation expected in the second quarter of 2027.
The Tapered Issuance Burn proposal has not been approved, scheduled, or included in the Hegota upgrade; its effect on Ethereum’s tokenomics remains undetermined.
Apple briefly removed Telegram from the App Store after reviewing content that violated its policies on child sexual abuse material and restored the app after Telegram removed the material and banned the user, Apple said. The Telegram-linked token Gram fell about 6.4% to $1.32 from $1.41 after the removal and recovered to about $1.40, according to CoinGecko. Telegram posted on X, "Reports of my demise are greatly exaggerated," followed by an apple emoji. The platform is also facing legal action in Russia and Australia; Russian authorities are pursuing a terrorism-related charge against founder Pavel Durov, while Australia's eSafety Commissioner has launched court proceedings alleging failures to remove terrorism-related material. The incident underscores how app store policies affect cryptocurrency token values and the continued examination of messaging platforms' content moderation.
SpaceX reported second‑quarter revenue of $7.8 billion, surpassing Wall Street expectations of $6.9 billion, and narrowed its net loss to $541 million from $1.0 billion a year earlier. The figures were disclosed in the company’s first quarterly report as a public entity on Tuesday, following its August 2026 initial public offering. Adjusted EBITDA rose to $3.5 billion, driven by growth in launch services, Starlink satellite internet and artificial intelligence activities. Digital asset holdings stood at $1.10 billion at quarter‑end, down from $1.64 billion at the end of 2025, reflecting a 33 % decline in bitcoin’s price during the period. Capital expenditures reached $18.4 billion, exceeding analyst estimates of $13 billion, as the firm invested heavily in AI infrastructure. After‑hours trading saw the stock fall 6 % to $118, having risen nearly 10 % during the regular session. The Nasdaq 100 index gained 3.3 % that day. Approximately 912 million shares held by employees and early investors will become eligible for sale on August 6, expanding the public float. The earnings report comes after SpaceX’s record $86 billion IPO and ahead of a key test for the stock’s liquidity following the employee share unlock.
Polymarket is pursuing a new funding round that values the platform at $20 billion, according to people familiar with the matter.
The company previously closed a $15 billion valuation round in April that included a $600 million investment from the Intercontinental Exchange, the operator of the New York Stock Exchange. Polymarket reported annualized revenue exceeding $1 billion after trading volumes declined in April and May but rose during the World Cup.
CEO Shayne Coplan has said Polymarket should be viewed as an information platform rather than a betting site, describing it as "a very useful thermometer of the world" that lets users assess the likelihood of future events. He also outlined a long‑term vision to expand beyond headline events into a broader range of markets.
Competition in the prediction market sector has intensified, with Coinbase, Robinhood and Kalshi expanding their offerings. Kalshi, which operates a federally regulated U.S. exchange, is reported to be seeking new capital at a $40 billion valuation, nearly double its previous funding level. Polymarket uses blockchain infrastructure and cryptocurrency settlement, distinguishing it from traditional exchanges.
The outcome of Polymarket’s funding round and the evolving competitive landscape remain uncertain as the sector continues to expand.
Hashdex announced it will close its Bitcoin spot ETF, which held roughly $14.7 million in assets, and give investors until the close of trading on Aug. 17 to sell their shares. The fund will begin liquidation on Aug. 18, at which point DEFI holders may receive cash based on the sale price of Bitcoin minus liabilities and transaction costs. NYSE Arca trading will stop before the market open on Aug. 18, and creation and redemption basket orders will be suspended after Aug. 17.
Hashdex's 8‑K filing and a later prospectus supplement indicate that cash proceeds are expected around Aug. 24, with a final settlement date of Aug. 28, though the dates may be adjusted. The sponsor will cover remaining liquidation expenses, and the per‑share payout amount has not been determined. For U.S. tax purposes the distribution is treated as a liquidating partnership payment, and investors are advised to consult tax professionals.
Hashdex cited cost pressure as the reason for the closure. The fund's prospectus warned that continued operation would be unreasonable if assets fell below $20 million; the reported asset level of $14.7 million placed it below that threshold. A 0.25 % annual management fee applied to the July 30 asset base, equating to about $36,750 per year before other expenses. The decision reflects the fund's own asset size and expense structure, which differ from other spot Bitcoin ETFs.
Other spot Bitcoin ETFs remain active, with IBIT holding the largest market share, but its scale can shift if demand changes. The closure adds to the limited number of U.S. spot Bitcoin ETFs available to investors.
Jim Cramer announced on August 4, 2026, that he intends to sell all of his bitcoin holdings, saying that advances in quantum computing could undermine cryptocurrency security within three to four years. Bitcoin's price remained near $64,000.
Cramer, known for his frequent reversals on bitcoin, made the remarks after a July 31 interview with IBM Chairman Arvind Krishna, who said quantum computers could challenge modern cryptography within that timeframe. The crypto community has previously treated Cramer's predictions as contrarian signals, exemplified by the Inverse Cramer Tracker ETF launched in 2023, which shut down in early 2024.
Cramer's bitcoin position size and any related wallet have not been disclosed, so the extent of his holdings cannot be verified by analytics firms. The price of bitcoin has held steady despite a Coldcard hardware wallet hack, rising bond yields, and recent sales by Strategy, the largest corporate holder of bitcoin.
Some market participants responded positively to Cramer's announcement. A social media user called the move the strongest buy signal of 2026. Others noted that Cramer's history of contradictory statements includes calling bitcoin 'monopoly money' in 2017, warning of a 'nasty' selloff in January 2024, and labeling bitcoin and gold 'bad money' in July 2025.
Bitcoin's price has not shown a clear reaction to Cramer's quantum warning, and the broader impact of quantum computing on cryptocurrency security remains uncertain.
Polymarket in Talks to Raise $1 billion at Valuation Above $20 billion. The company has not announced a deal and a spokesperson declined to comment.
Earlier in April, Polymarket completed a financing round that valued the platform at about $15 billion, according to Bloomberg, with D.E. Shaw and G Squared joining the investor group. ICE confirmed a $600 million investment in March, part of a broader equity raise, and had already invested $1 billion in October 2025, though it did not disclose the valuation attached to that March injection.
Polymarket’s annualized revenue has more than tripled since April, reaching above $1.2 billion, Bloomberg said, while Reuters noted in June that annualized revenue had passed $1 billion. The company’s combined trading volume reached $50.6 billion in July, with Kalshi handling $37.7 billion, Polymarket US $5 billion and the international venue $7.9 billion.
The U.S. expansion, which began after the April financing, allows Polymarket to operate through QCX, a CFTC‑designated contract market, and to offer its app to a wait‑listed user base. The CFTC recorded Polymarket US’s designation on July 9, 2025, and the exchange has submitted rule changes covering fees, liquidity programs, surveillance and trading procedures.
Regulatory disputes remain open. The Nevada Gaming Control Board filed a civil complaint in January alleging that sports event contracts constitute unlicensed wagering, and a North Carolina law signed in July taxes CFTC‑regulated prediction market fees at 6 % beginning in 2027.
Kalshi, Polymarket’s main competitor, secured a $1 billion Series F round at a $22 billion valuation in May, with Coatue leading participation from Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley and ARK Invest. Kalshi reported an 800 % increase in institutional trading volume over six months and a rise in annualized trading volume from $52 billion to $178 billion.
If the $1 billion raise is completed, Polymarket’s valuation would be more than twice the $9 billion figure cited by Bloomberg for an October round and would place the company nearer to Kalshi’s $22 billion valuation. However, the transaction remains unverified, and investors may weigh the company’s international reach, crypto settlement infrastructure, brand recognition and relationships with ICE against regulatory risks and legal costs.
Readers should treat the fundraising amount, valuation and investor composition as preliminary until a formal agreement is announced.
Samsung announced that its Galaxy Wallet will support native stablecoins at the Galaxy Unpacked event on July 22, 2026. The company showed a mockup of a USDC balance on stage but did not disclose the issuer, blockchain or custody model. Samsung has been integrating crypto functions into its devices since the Galaxy S10 introduced a hardware keystore in 2019. The platform added Ledger hardware wallet support that year and a Coinbase partnership in 2025 that let 75 million U.S. Galaxy owners access crypto services through Samsung Pay. In May 2026, Samsung Securities, Samsung SDS and Samsung Card agreed to purchase a combined 4% stake in Dunamu, the operator of South Korea’s largest exchange Upbit, for approximately $408 million. Samsung SDS said the investment was intended to develop digital asset infrastructure and to prioritize stablecoin services. Samsung’s Galaxy Wallet currently serves nearly 19 million users in South Korea and is available in 61 countries, with 241 million Galaxy phones shipped in 2025. The company targets 800 million Galaxy phones with Galaxy AI by the end of 2026, a figure that reflects device deployment rather than stablecoin user numbers. No launch date, eligible markets or network selection has been disclosed by Samsung. The United States enacted the GENIUS Act on July 18, 2025, establishing a federal framework that requires payment stablecoin issuers to hold one-to-one reserves and to publish audited attestations by July 2028. Samsung would need to partner with a GENIUS-compliant issuer and custodian to offer stablecoin balances in the United States. In South Korea, the Digital Asset Basic Act is pending in the National Assembly; the draft would require issuers to maintain full reserves and to obtain authorization before issuing won-pegged tokens. The legislation’s final shape, including ownership limits for Korean-won stablecoins, remains unresolved. Samsung has not confirmed which stablecoin will be supported, which blockchain network will be used, or when the feature will be generally available. Until these details are disclosed, the announcement describes a strategic direction rather than a completed product.
Bank reserves declined $77.579 billion on a weekly‑average basis for the week ending July 29. The Treasury’s borrowing projection for July through September rose by $68 billion. Reserve balances fell to $2.9445 trillion on July 29, down from $3.062 trillion the prior week, according to the Federal Reserve’s H.4.1 release. The Treasury General Account balance increased from $829.6 billion to $910.8 billion, a rise of $81 billion, which was the largest component of the weekly deposit increase. The Treasury’s August 3 borrowing update projects a September cash balance of $950 billion, up $68 billion from the May 4 baseline. Adjusting for a lower starting balance adds $19 billion, bringing the total increase to $87 billion, which is driven primarily by lower projected net cash flows. The estimate excludes SOMA auction rollovers and includes financing needed for SOMA redemptions. The Federal Reserve’s overnight reverse‑repo facility accepted $2.127 billion on August 3, and the weekly average reached $343.9 billion, with most of the balance held by foreign official and international accounts. The August 5 financing schedule will affect Bitcoin’s liquidity as the cryptocurrency trades near $65,000.
Democratic Senators Elizabeth Warren and Richard Blumenthal asked the Securities and Exchange Commission to investigate President Donald Trump's $TRUMP memecoin. They cited estimated losses of about $3.8 billion for nearly one million investors.
The Digital Asset Market Clarity Act, which establishes a regulatory framework for cryptocurrency markets, is pending in Congress. The SEC has said memecoins lack significant utility and are not securities under U.S. law. The request was made while Congress debates an ethics provision that would bar senior officials from direct participation in crypto projects.
In a letter dated Monday, the senators asked SEC Chair Paul Atkins to examine the $TRUMP token. The letter noted that Trump's financial disclosure reported $636 million in proceeds from the token.
The $TRUMP token peaked at more than $46 before falling to $1.47. Its price briefly rose after the issuing entity announced plans to hold events at Mar‑a‑Lago, where Trump served as keynote speaker, but those spikes were short‑lived.
The SEC previously indicated that memecoins are outside its jurisdiction. In a staff statement released after the Trump administration took office, the agency described memecoins as having limited functionality and not meeting the criteria for a security.
Trump has agreed to certain restrictions on his involvement with the token, though those restrictions are expected to have limited effect. Democratic leaders opposed the proposed limits and said they would not support the Clarity Act unless the ethics provision was strengthened. A revised version negotiated by Senators Thom Tillis and Ruben Gallego was sent to the White House last week, and the administration has not yet responded.
Senate Majority Leader John Thune plans to begin the Senate voting process for the Clarity Act this week, a step that could affect the bill's passage if Democratic support does not coalesce. Warren, the ranking member of the Senate Banking Committee, has been outside the negotiations and has opposed the bill. She said she would likely assume leadership of the committee if Democrats regain control of the Senate in the upcoming midterm elections.
The White House has not responded to inquiries about its stance, and the SEC has not indicated whether it will conduct an investigation. The ultimate impact of the request and the legislation remains unresolved.
Three Missouri men have been charged with a federal conspiracy count alleging a plan to rob a Bitcoin holder’s home in Connecticut. The indictment, returned by a New Haven grand jury on May 22, alleges that Sedric Louis, 32, John Davis, 34, and Martel Williams, 27, surveilled the target and his parents for two consecutive days in August 2024. Prosecutors say the group obtained rental vehicles, air rifles and walkie‑talkies before traveling to Connecticut between August 21 and August 24. The charge, which carries a maximum sentence of 20 years, is based on the Hobbs Act robbery conspiracy statute. Louis and Davis remain detained, while Williams was released on bond after pleading not guilty. The indictment links the case to a separate kidnapping and carjacking incident in which six Florida men were arrested on August 25, 2024. Investigators say the Florida defendants arrived after the Missouri group left the scene. Two other defendants, Adam Iza and Saif Faiq, have pleaded guilty to the same conspiracy charge and are scheduled for sentencing on August 12 and August 28, respectively. The U.S. Attorney’s Office for the District of Connecticut announced the charges on August 4. The Justice Department notes that an indictment is not evidence of guilt and that all defendants are presumed innocent. The case is expected to move forward through pretrial motions and potential plea negotiations, with no trial date set.
The United States and the United Kingdom reiterated their commitment to coordinated financial regulation of digital assets during a July 8 meeting of the UK‑US Financial Regulatory Working Group in London.
The 13th meeting focused on stablecoin oversight, tokenization and the United Kingdom’s Wholesale Financial Markets Digital Strategy, as well as payment modernization and the G20 Cross‑border Payments Roadmap, an international effort to improve cross‑border transactions.
An August 4 joint statement said U.S. officials updated their U.K. counterparts on progress in applying the GENIUS Act, the landmark stablecoin law, and on shaping digital asset market structure. Participants reviewed payment modernization initiatives and the roadmap’s objectives. No new policy measures were adopted, but the statement underscored a shared aim to maintain financial stability while supporting responsible digital‑asset innovation. The Bank of England is reviewing limits on stablecoin holdings and a proposal that at least 40% of reserve assets be held as non‑interest‑bearing deposits at the central bank. The Financial Conduct Authority earlier noted that cross‑border payments represent a clear near‑term use case for stablecoins. Industry analysts have observed that the United States, through the GENIUS Act, has been moving forward with regulated dollar‑backed stablecoins, while the United Kingdom is revising its regulatory stance.
Regulators said continued collaboration will aim to align standards and support the development of tokenized financial services across borders.
Bitwise chief investment officer Matt Hougan said the crypto industry will continue developing despite uncertainty over the CLARITY Act, a proposed market structure bill facing a Senate deadline of August 5. The legislation aims to establish a clear regulatory framework for digital assets and is currently viewed with declining odds of passage this year, with Polymarket assigning a 23% chance of enactment and Galaxy Research lowering its 2026 probability to 30%. Hougan noted that Washington typically lags behind technological shifts and that the industry has progressed beyond the point of reversal. He said failure to pass the bill would place it in a walking dead status, stalled but not dead, and could be addressed through a September or December omnibus spending package. If the act does not become law, the SEC and CFTC's joint interpretation from March, which classifies Bitcoin and other assets as digital commodities, would remain in effect. SEC Chair Paul Atkins stated the agency is prepared to issue rules addressing the same issues, though those rules may be less durable than congressional legislation and could be altered by future administrations. Ryan Louvar of WisdomTree argued that without legislation, market participants face ambiguity about which agency's rules apply, hindering market function. Hougan emphasized that crypto's momentum and role as a pillar of the global financial system will persist regardless of the legislative outcome. The industry expects to have two and a half years before a new administration could reshape regulatory policy, and Hougan said crypto will reshape finance for decades irrespective of the CLARITY Act's fate.
Wallet linked to the Coldcard hardware wallet exploit holds roughly $36 million in stolen bitcoin and has received multiple transactions with attached messages since July 30, 2026. The address, identified as bc1qq85v2c926eg6pgxhwp6q7lf6cnsz80qs3fcu9r, is tied to the attacker and was noted by Galaxy Research. Each transaction includes a small payment and a text string written via the OP_RETURN opcode, which embeds the data permanently in the blockchain. Messages range from direct pleas for the return of stolen funds, such as “You stole, please return some” and “Please Please Please,” to requests for a portion of the holdings, for example “80% of my 5 BTC.” An offer to launder the stolen BTC for a 10% fee, including a Telegram handle, and an unrelated appeal for “1 BTC for my Bitcoin journey” were also observed. A message read: “Monday owns my day / five plus ten bitcoin stranger / let me call in free.” The practice of using OP_RETURN to communicate with thieves dates back to the 2020 LuBian mining pool theft, where pool operators posted messages to negotiate the return of more than 127,000 BTC; those messages later assisted analysts in identifying attacker wallets. The wallet’s messages are now immutable on the ledger, and it remains unclear whether the attacker will respond or retrieve the funds.
Open Standard announced Open USD on August 3, 2026, backed by Coinbase, Visa and Mastercard, positioning the token as an additional stablecoin network rather than a replacement for Circle's $72 billion USDC. Circle's shares fell as much as 20% after the announcement and have not fully recovered. The development reflects a broader shift in the stablecoin market toward multiple issuers and wider adoption of digital dollar payments.
USDC has been the dominant stablecoin issued by Circle, but the entry of banks, payment networks and fintech firms into the space is expanding competition beyond crypto‑native issuers. Open USD is intended to provide another option for users and businesses that want to transact with digital dollars.
Coinbase executives said they have met the conditions to renew their commercial agreement with Circle and will continue to support USDC alongside Tether's USDT and PayPal's PYUSD, while describing Open USD as a source of additional business opportunities. Visa's chief executive said the company operates a multi‑coin, multi‑chain model and will help clients connect to whichever stablecoin gains adoption, emphasizing that it will not pick a winner. Mastercard's chief executive noted that it already supports USDC, the Global Dollar Network and other stablecoins, and described Open USD as another coin that will be enabled across its network, stressing that choice remains a key criterion.
Analysts observed that the partner list includes more than 140 entities but that many have provided only letters of intent, making the commitments soft. They argued that execution, existing liquidity in USDC and USDT, and the ability to align diverse partner incentives will be more decisive than the size of the consortium. Some analysts said the market overreacted, while others warned that the difficulty of coordinating so many participants could hinder widespread adoption.
Open Standard has not provided further comment and will share more details at a later launch date this year. The competition among stablecoin networks will likely continue to depend on liquidity, network effects and regulatory developments.
Bitcoin rose 1.6% to about $64,000 on August 4, 2026, after a weekend exploit of Coldcard wallet firmware and a sale by corporate holder Strategy reduced the amount of bitcoin in circulation, while Cardano reached its highest level in a month.
The Coldcard exploit, which took advantage of a firmware flaw, caused the removal of roughly 1,816 BTC valued at $114 million from more than 5,200 addresses since July 30. Strategy sold 1,638 BTC between July 27 and August 2 at an average price of $63,957, its third disposal of the year and below its $75,419 average acquisition cost. The Crypto Fear & Greed Index fell to 25, indicating extreme fear, while spot Bitcoin ETFs recorded $61.5 million in outflows last week and $170 million in inflows on August 4.
Derivatives data showed ATOM futures gaining nearly 9% with open interest approaching a record 80 million tokens, accompanied by negative funding rates and cumulative volume delta that signaled bearish positioning. Cardano futures open interest climbed to a record 2.79 billion coins, with positive funding rates and the highest 24‑hour cumulative volume delta among major altcoins. Bitcoin options activity concentrated around the $60,000 put and $70,000 and $72,000 call strikes, with the $70,000 call being the most traded in the past day. Implied volatility for Bitcoin fell to about 36%, its lowest level since late May, suggesting reduced short‑term demand for options.
Cardano’s price gain followed several network upgrades, including progress on the Leios testnet, enhancements to the Hydra scaling layer, Mithril improvements, a Pyth price‑feed integration and new Catalyst funding for developers, providing a technical basis for the rally beyond sentiment alone. The market remains cautious as holder counts for ADA have declined while price continues to rise.
Research published in mid‑2026 indicates that advances in artificial intelligence may expose weaknesses in Bitcoin custody mechanisms, including seed generation and hardware wallet firmware.
Bitcoin custody relies on multiple layers, from seed generation to hardware wallet firmware, and AI is being used to identify seams in this stack.
A July 30 2026 technical disclosure by Coinkite described a software fallback in seed generation and a firmware bug in COLDCARD that could affect key material. The company advised users to replace affected seeds and migrate funds.
An OpenAI internal benchmark released July 21 2026 demonstrated models identifying vulnerabilities across its research environment and Hugging Face infrastructure.
Hugging Face disclosed a production compromise on July 16 2026.
A June 17 2026 paper introduced Cerberus, a human‑in‑the‑loop agent team that reported security findings in wallet and payment software.
In August 2024, Dark Skippy researchers showed that valid Bitcoin transaction signatures could embed seed material, allowing exfiltration without detection.
Ledger Donjon reported on July 9 2026 that laser fault injection enabled bypass of a recovery‑state check in Tangem firmware, a process requiring specialized laboratory equipment.
Ledger Recover, an optional service for subscribers, distributes encrypted seed shares among backup providers.
AI could accelerate the discovery of such defects, shortening the interval between a coding mistake and its detection. Bitcoin’s core cryptography remains unchanged.
American CryptoFed withdrew its second attempt to register the Locke governance token with the U.S. Securities and Exchange Commission, preventing the Form 10 registration from automatically becoming effective on Aug. 15. The Wyoming nonprofit organization submitted the withdrawal request on Aug. 3.
Locke is designed to operate on the Ethereum blockchain with a maximum supply of 10 trillion tokens and was intended to serve as the governance token for a payment token called Ducat. Locke had not been issued, granted, or sold at the time of the withdrawal, and Ducat would be launched only if Locke reached and sustained a value of $0.10 per token, though the organization said there was no guarantee of any value.
The organization describes its network as a replacement for fractional‑reserve banking, proposing a token‑based monetary system that avoids inflation, deflation, and transaction costs while supporting maximum employment. SEC staff identified numerous material failures in the disclosure filing, which prompted the withdrawal.
American CryptoFed said it could submit another filing under a proposed SEC crypto framework identified as RIN 3235‑AN38, which remains under White House review and has no set deadline. No regulatory exemption has been adopted, and any renewed effort would require addressing the staff’s concerns or waiting for a formally adopted pathway.