Ripple Labs has proposed six amendments to the XRP Ledger's version 3.3.0 software release. The primary proposal, "Confidential Transfers," would allow institutions to encrypt the balances and payment amounts of selected Multi-Purpose Tokens while keeping the accounts and token types visible. The feature requires opt-in from token holders and currently supports only direct peer-to-peer transfers, excluding trades, escrow and checks. The other five amendments introduce batch transaction packaging of up to eight steps with an all-or-nothing mode, fee sponsorship that lets one account cover another's fees, permission delegation that limits an authorized party's submissions, dynamic MPT properties that issuers can modify after issuance, and memory optimizations that reduce node memory use by 10-15% and accelerate synchronization. None of the changes are live; they must receive continuous support from at least 80% of trusted validators for two weeks before activation. XRPL currently hosts about $1.38 billion of tokenized real-world assets, of which more than $530 million are in the scope of the proposal, including $845.7 million of RLUSD and holdings from Ondo, VERT Capital, Archax and Societe Generale. The proposal aims to give institutional participants privacy for their on-chain activities while maintaining ledger integrity through cryptographic proofs.
Bitcoin, Ethereum, regulation, and the forces moving digital assets.
BitMEX's proposed sale ended without a buyer, and the exchange said it will cease operations after a strategic review, with new account registrations halted ahead of a planned September 23 closure.
Founded in 2016, BitMEX became a leading provider of perpetual futures contracts, but its market share has eroded as trading migrated to larger exchanges and decentralized platforms, and the 2020 U.S. criminal charges against its co‑founders left a lingering reputational stain.
During a two‑year search, the exchange considered offers from competing crypto platforms and payments firm Exodus, but no formal bids were received, according to a person familiar with the discussions. Buyers cited the continued majority ownership by founder Arthur Hayes and the other co‑founders, as well as the company’s shrinking revenue base, as deterrents. The deteriorating financial results made it difficult to justify a valuation near $1 billion, the source said, and trading activity had fallen as customers shifted to Binance, Bybit and other venues. Both BitMEX and Exodus declined to comment when asked for a response.
The failed transaction follows a broader resurgence in crypto dealmaking, with several acquisitions announced in 2026, yet BitMEX’s legal challenges and impending shutdown leave its future uncertain.
U.S. labor market lost 23,000 jobs in July, falling short of the 80,000‑job increase expected by economists and marking the second consecutive month of decline. The unemployment rate slipped to 4.1%, below the 4.2% forecast and June’s 4.2%. The June gain was revised down to 20,000 from an initial 57,000, and May’s increase was adjusted to 63,000 from 129,000; the last negative jobs print occurred in February when 156,000 jobs were lost. Equity index futures rose and Treasury yields fell after the report, while gold rose about 3% and silver rose near 6%. Cryptocurrency markets showed limited movement, with Bitcoin edging higher to around $65,000. Average hourly earnings increased 0.1% in July, missing the 0.3% consensus, and rose 3.2% year‑over‑year, below the 3.5% expectation. Joe Brusuelas, chief economist at RSM, said the weak report was likely driven by seasonal adjustment related to the World Cup and that the Federal Reserve would likely disregard the figures. He added that investors are expected to focus on the upcoming July consumer price index. CME FedWatch indicated a 46% probability of a September rate hike, down from 55% before the data. Separately, the Zcash network announced a Tachyon upgrade aimed at expanding shielded payment capacity and enhancing quantum‑resistance, while also testing the sustainability of its funding, security and governance structures. The data leaves the Fed with more time to assess inflation trends before deciding on monetary policy, and the next release of CPI data will provide further insight into the labor market’s trajectory.
Bitcoin hovered near $65,000 after the U.S. Labor Department reported a loss of 23,000 jobs in July, missing the consensus forecast of an 80,000 gain.
The unemployment rate slipped to 4.1%, below the expected 4.2%, marking the second consecutive month of job declines after a February loss of 156,000.
BTCPay Server disclosed a critical vulnerability being actively exploited, urging operators to update to version 2.4.2 or take servers offline, a warning issued amid heightened security alerts following a recent Coldcard wallet hack.
The S&P 500 rose 0.55% and the Nasdaq 100 gained about 1%, while Bitcoin climbed more than 1% above $65,000. Gold rose 3% and silver nearly 6%, and the DXY fell to 99.5, extending a decline from a recent high of 101.
The U.S. 10-year Treasury yield dropped to 4.64%, and CME FedWatch indicated a 56% probability of a September rate pause, down from 55% before the jobs data. Bank of America forecast headline inflation of 0.1% in July, with underlying inflation remaining elevated, keeping a September rate hike possible.
James Thorne, chief market strategist at Wellington-Altus, said political risk concerns were weighing on Bitcoin more than monetary policy, noting that scarce digital assets may retain value as sovereign debt expands.
Preferred stock STRc rose 1.1% to $95.09, while Strive’s preferred stock SATA reclaimed $99 after a June decline; SpaceX shares gained 9% to just above $125 following the expiration of lockup restrictions.
MetaMask launched an AI-powered Agent Wallet enabling hands-free trading, and Zcash announced a Tachyon upgrade aimed at scaling shielded payments and improving quantum resistance.
Brent crude rose 1.4% to $83.61 after reports that Iran might restrict shipping through the Strait of Hormuz, introducing inflation concerns that could keep the Federal Reserve cautious.
The market’s next focus is the July Consumer Price Index report scheduled for release on Wednesday, which may clarify the Fed’s stance on interest rates.
Bitcoin's price has traced a potential inverse head-and-shoulders pattern on the daily chart, with analysts watching a breakout above a neckline near $66,800 that could target $76,000 if confirmed.
The pattern includes a left shoulder around $60,000 in early June, a head near $57,700 in late June or early July, and a right shoulder around $62,500, with the neckline positioned at approximately $66,800 as of the latest data.
Technical analysts note that the pattern is subjective; Thomas Bulkowski, a chart-pattern expert, ranks the inverse head-and-shoulders as the 13th most reliable of 39 patterns, with an 11% failure rate and a 71% success rate in reaching the measured price target, while 65% of instances see a retest of the neckline before further upside.
Regulatory uncertainty surrounding the Clarity Act, which has become less likely to pass this year, introduces a headwind that could drive the price back below the 50-day simple moving average, currently around $63,321.
The pattern remains unconfirmed; a decisive close above the neckline would be required for a bullish signal, while a drop below the 50-day average would suggest weakening momentum.
SUI Group Holdings lent 6 million SUI tokens to Bluefin Markets under an uncollateralized agreement that allows the borrower to reuse the assets and entitles Sui Group to a share of Bluefin’s revenue. The arrangement runs through September 30, 2028, and permits Bluefin to pledge, rehypothecate, sell or lend the tokens. An amendment in June 2026 increased the loan from 2 million to 6 million SUI and raised the fee from 5% to 11% of gross operating revenue across Bluefin and related entities, including revenue from acquired Suilend assets. Payments are due twice monthly in SUI. Sui Group’s August 6 filing showed it held 109.1 million SUI as of August 3, including the 6 million recorded as a loan receivable. At a $0.69 reference price the total position was valued at $75.3 million. The company’s management‑calculated non‑GAAP mNAV placed its market capitalization at 0.72 times its net asset value, indicating a discount of about 24% to 28%. Sui Group reported $35,600 of digital‑lending income and $363,000 of total revenue in the second quarter. Operating loss was $19.744 million and net loss $18.907 million. The firm also recorded $18.910 million of realized digital‑asset losses, of which $14 million related to the Bluefin transfer due to derecognition of the tokens and a lower‑valued receivable, which it described as noncash. Liquidity constraints are evident; as of June 30 the company had $7.53 million of current assets versus $12.14 million of current liabilities, with cash and cash equivalents of $3.14 million. Subsequent cash movements adjusted the cash and stablecoin balance to $12.91 million after accounting for USDC and SuiUSDe positions. The key unknown remains Bluefin’s qualifying revenue and the amount of fee receipts that would offset the uncollateralized exposure.
The Commodity Futures Trading Commission instructed regulated prediction market platforms not to display contracts using American‑style gambling odds, according to a Bloomberg report dated August 7. The guidance states that event contracts remain subject to U.S. derivatives laws and that platforms must avoid deceptive marketing or solicitation practices. New York Attorney General Letitia James filed a lawsuit against Kalshi on July 31, seeking at least $36 billion in damages and alleging that the firm operates an unlicensed gambling business. Kalshi denied the allegation, saying its CFTC registration makes it exempt from state gambling oversight, and has requested emergency injunctive relief in Utah while it pursues an appeal. Attorneys general from 44 states have urged the CFTC to reconsider its proposed rules, arguing that states have traditional authority over sports betting. A Wisconsin federal court rejected the CFTC’s request to block state enforcement of gambling laws, and a Washington court previously issued a preliminary injunction against Kalshi. The CFTC also highlighted a prior settlement with former Representative George Santos, who returned $17,569.98 in gains, paid a $17,500 penalty, and accepted a three‑year trading ban for Kalshi‑related transactions. Platforms are required to review how they display contract prices and promote sports‑related products. The legal dispute is expected to be appealed to the U.S. Court of Appeals for the Tenth Circuit, which will help determine whether federal registration can shield prediction markets from state gambling regulations. The regulatory and legal battles continue as pending appeals in Utah and other states shape the future scope of federal jurisdiction over prediction markets.
Bitcoin is approaching the deadline for BIP‑110, a proposed temporary soft fork that would modify block data structure, with only 2.62% of observed blocks signaling support as of Aug. 7 and 185 blocks remaining before the signaling period ends. BIP‑110 requires 1,109 of 2,016 blocks (55%) to signal within a defined window, and the current level stands at 48 of 1,831 blocks; if all remaining blocks signaled, the final tally would be 233 of 2,016, or about 11.6%. The signaling period is scheduled to begin at block 961,632 and conclude at block 963,647, after which nodes enforcing BIP‑110 would reject blocks that do not signal. Core Bitcoin developers have not adopted the proposal, as a related pull request was closed unmerged on March 26, and Core contributor Antoine Poinsot stated that the core client does not enforce the change. Mining pool OCEAN announced on July 15 that it will operate separate signaling and non‑signaling endpoints, but independent verification of full enforcement is pending. Alternative node software, such as Bitcoin Knots, warned that non‑enforcing software could leave chainstate unsafe after the upgrade, and a safeguard was merged to detect version‑bit violations in inherited headers. Observers note that low signaling may be inflated by a sudden increase in node activity, while critics argue that the proposal could limit transaction flexibility and affect network neutrality. Exchanges, wallets, pools and node operators are monitoring the situation to determine whether to adjust their software before the lock‑in window closes.
Trump Media and Technology Group said it will end its agreements with Crypto.com, including a plan to acquire billions of dollars of CRO tokens and integrate prediction markets into Truth Social, and will instead focus on a merger with energy company TAE.
The decision was announced on Friday by interim CEO Kevin McGurn, who said market dynamics, not regulatory pressure, drove the pullback. The original treasury deal, announced in September 2025, envisioned TMTG purchasing large amounts of Crypto.com’s CRO tokens to create a $6.4 billion fund and offer crypto rewards to Truth Social users. An October announcement had outlined plans to add prediction markets under the Truth Predict service. TMTG and Crypto.com had also been involved in a separate special purpose acquisition company, Yorkville Acquisition Corp. The companies cited “prevailing market conditions and shifting business and stakeholder priorities” as reasons for terminating the treasury agreement.
The merger with TAE remains under discussion, and no timeline for completion has been disclosed. Lawmakers continue to examine ethics provisions in a proposed market structure bill that could affect the Trump family’s digital asset holdings.
US Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against two Iran-linked cryptocurrency exchanges, Shelbit and Aban Tether, alleging they facilitated illicit cryptocurrency activity and sanctions evasion. The notice, issued on Friday, also sanctioned Iranian national Siavash Kayvanpour and crypto wallets and companies linked to him, one of which operates Shelbit. Treasury Secretary Scott Bessent said the department will continue to increase economic pressure across dollars, rials and crypto, targeting the illicit financial networks that sustain the regime. According to OFAC, wallets controlled by Iran’s Islamic Revolutionary Guard Corps sent more than $1 million in crypto to addresses tied to Shelbit, while wallets associated with Kayvanpour transferred $2 million in digital assets to Nobitex, an exchange previously added to the US sanctions list. Shelbit facilitated the transfer of $2 million in crypto to IRGC-controlled wallets. The actions follow previous designations of exchanges Zedcex and Zedxio in January and a June freeze of $131 million in wallets linked to Iran. A report indicates Iran-linked entities moved $3.8 billion through CoinEx and TRM. The sanctions represent the latest step in US efforts to restrict Iran’s access to digital asset markets, though the broader impact remains uncertain.
Reform UK chair Lee Anderson requested that the parliamentary commissioner for standards investigate Defense Secretary Wes Streeting over a reported £50,000 donation from the think tank Labour for the Long Term, which received a £675,000 gift from former FTX CEO Sam Bankman‑Fried in 2022 and 2023, according to a report from The Telegraph.
Under UK law, unincorporated associations may give more than £675 to a politician, a provision that opposition groups say creates a loophole for undisclosed foreign or dark money. Nigel Farage, Reform UK leader, is scheduled to face voters in a by‑election next week after resigning from parliament amid a separate crypto‑related controversy involving £6.7 million in donations from crypto billionaire Christopher Harborne and financial assistance from George Cottrell, a convicted fraudster linked to a crypto casino.
Streeting asked Labour for the Long Term for a list of its donors before accepting the £50,000, but Bankman‑Fried’s name was omitted. Streeting said he had never had any contact with the former FTX CEO, who is serving a 25‑year prison term after a conviction on seven felony charges.
David Lawrence, founder of Labour for the Long Term, said Streeting’s contribution was funded by a donor other than Bankman‑Fried and that the organization did not receive any donations from the FTX Foundation or Bankman‑Fried, according to The Telegraph.
The US Court of Appeals for the Second Circuit upheld Bankman‑Fried’s felony conviction and 25‑year sentence in June, limiting his options for early release, though he may appeal to the Supreme Court or seek a pardon from Donald Trump.
Whether the investigation will affect ongoing debates about foreign influence in UK politics remains to be seen.
The US Senate has postponed a vote on the Clarity Act, a bill that would set a federal framework for crypto market structure, custody and oversight, until after the August recess. The delay was confirmed by Senator Thune’s office, which said the vote will resume when senators return in September amid Democratic opposition. First Digital founder and CEO Vincent Chok said the postponement leaves institutions without clear rules on market structure, custody and oversight. He noted that prolonged uncertainty makes it difficult for firms to adopt digital assets, even though markets can adjust to slower timelines. Chok added that jurisdictions with clearer regulations, such as Hong Kong and Singapore, may gain an advantage in attracting capital and talent. Maylea Ma, deputy general counsel at 1inch, said that if Congress does not pass the legislation the industry could return to regulation by enforcement, relying on agency interpretations and a patchwork of state money transmitter and securities rules. She said 1inch will continue operating under its non‑custodial model while awaiting greater legal certainty in the United States. The European Union’s Markets in Crypto‑Assets Regulation is already in force, and 1inch plans to maintain its conservative approach. James E. Thorne, chief market strategist at Wellington‑Altus, described the delay as a procedural stall that benefits the current regulatory status quo and may push innovation offshore. He said continued ambiguity will keep capital flowing to jurisdictions with more defined rules.
Former President Donald Trump’s businesses are reported to have earned more than $1 billion from cryptocurrency investments, according to media reports.
Former President Donald Trump’s businesses are reported to have earned more than $1 billion from cryptocurrency investments, according to media reports. A UK‑based cloud mining platform, SHRMiner, has launched a free mining service that promises passive returns for holders of major cryptocurrencies. Trump criticized Bitcoin in 2021. He later pledged during his campaign to make the United States the global cryptocurrency capital. After returning to the White House, he signed an executive order aimed at supporting the digital asset industry. Cloud mining has gained attention in 2026 as computing infrastructure expands and digital asset markets evolve. SHRMiner announced a free cloud mining offering that allows users to register an account, receive a $15 sign‑up bonus, and select from subscription plans ranging from $100 to $200,000. The platform states that earnings are credited within 24 hours and can be withdrawn or reinvested. Listed contracts include a $100 plan with a 100‑day term and $8 profit, a $500 Litecoin Miner plan with a 5‑year term and $31.25 profit, and larger Bitcoin mining contracts with higher principal and returns. SHRMiner says the service requires no hardware, uses renewable energy sources, and provides daily automatic settlements, SSL encryption, DDoS protection, and a real‑time earnings dashboard. The company also offers an affiliate program that awards up to 4.5 % commission on referrals, with additional bonuses reaching 30,000 units. Claims about potential daily earnings of $10,700 or more are presented by SHRMiner as possible outcomes, though no independent verification of such figures is provided. The sustainability of cloud mining services and the accuracy of reported earnings remain subject to ongoing verification.
Bitcoin holders could lose real BTC if they sell coins from a potential BIP‑110 fork that may create a duplicate chain.
Developers warn that, without built‑in replay protection until at least early September, a transaction signed to move the forked coins could also be broadcast on the main Bitcoin network, spending the holder’s original BTC.
Kevin Loaec, a Bitcoin developer, said that non‑expert users should keep their coins stationary until the fork is resolved.
The split depends on miner signalling and block discovery rates, making the timing uncertain.
Monitoring the situation is recommended before any action is taken.
Bybit, the world's second-largest cryptocurrency exchange, filed a civil lawsuit in the U.S. District Court for the District of Columbia against the Democratic People's Republic of Korea, its Reconnaissance General Bureau intelligence agency and the Lazarus Group, alleging responsibility for a $1.5 billion theft of Ethereum in February 2025 and obtaining a preliminary injunction that freezes assets linked to the alleged perpetrators.
The hack, which occurred on February 21, 2025, resulted in the loss of roughly 400,000 Ethereum and stETH tokens and accounted for most of the $2.02 billion in cryptocurrency stolen by North Korean actors in the year. Chainalysis data estimate that North Korean hackers have stolen $6.75 billion in total.
Bybit's press release said the preliminary injunction, issued by a federal judge, bars the identified defendants from transferring or disposing of the assets while the case proceeds, a step intended to preserve the stolen digital assets for potential recovery and to support law‑enforcement investigations. The exchange added that it will seek further relief from the court. The civil action proceeds separately from ongoing criminal investigations by U.S. authorities. Ben Zhou, co‑founder and CEO of Bybit, stated that protecting users and holding the perpetrators accountable are the exchange’s priorities.
The litigation marks a rare legal effort by a major exchange to pursue state‑linked hackers, but the outcome of the asset‑freeze request and the broader recovery of the funds remain pending.
Bitcoin remained near $64,700 on Friday with little change over the previous 24 hours, while the CoinDesk 20 index slipped 0.2%; gold rose 1.5% to $4,300 per ounce and Brent crude traded above $83 per barrel as Houthi attacks on Saudi Arabia heightened Middle East tensions. The market movement reflects divergent reactions to geopolitical risk and safe‑haven demand, alongside technical developments in cryptocurrency infrastructure. Treasury yields stayed at 4.67% for the 10‑year note, a level cited by Fidelity global macro director Jurrien Timmer, who warned that history suggests nothing good happens. Higher oil prices could add inflation pressure and, together with elevated yields, may curb expectations for near‑term interest‑rate cuts, weighing on risk assets such as bitcoin. In crypto derivatives, the long‑short taker ratio returned to neutral after a bullish Thursday, indicating a more cautious stance ahead of the U.S. payrolls report. Canton Network’s CC token fell 13% in 24 hours but its futures open interest increased by more than 5%, while the cumulative volume delta remained negative, suggesting sellers were more active via short market orders. Open interest rose for DOGE, XRP and SUI, while SHIB declined. The Crypto Volatility Index (BVIV) stayed near its historical floor of 36%, showing limited stress despite the Clarity Act delay and upcoming jobs data. Options volume on Deribit favored put contracts at $60,000 and $62,000 strike prices for bitcoin and a $2,000 call for ethereum. Sui announced an upgrade to add quantum‑resistant signatures, adopting NIST‑approved ML‑DSA‑65 for standard accounts and SLH‑DSA‑SHA2‑128s for high‑value vaults, allowing optional use without changing existing recovery phrases. The upgrade is part of a broader effort to provide cryptographic agility, contrasting with the heavier changes required for bitcoin and ethereum. The same month, Strategy and BlackRock formed a consortium to prepare bitcoin for potential quantum threats. Sui’s price was reported around an undisclosed level, and Zcash’s Tachyon upgrade, launched on June 30, 2026, aims to scale shielded payments, enhance quantum readiness, and test the network’s funding, security and governance. The market awaits the U.S. jobs report and further developments in Middle East tensions to determine short‑term direction for risk assets.
Large bitcoin holders have accumulated more than 20,000 BTC, valued at about $1.2 billion, since July 29, according to on‑chain data. The purchases occurred in a price range below $65,000. At the same time, U.S. spot bitcoin exchange‑traded funds recorded $754.69 million in inflows this week, the strongest weekly total since April. The inflows put the funds on track for their best week since April and follow a $240 million inflow on Wednesday, reversing a decline in June. Analysts say a sustained price recovery will require a decisive close above $65,000. Santiment noted that whales and sharks have built up positions while smaller holders have been selling, a pattern that could increase the likelihood of a move above $70,000. The firm linked the diverging trends to a July 30 hack of Coldcard hardware wallets that resulted in the loss of $120 million and to uncertainty surrounding the pending Clarity Act. Institutional demand appears to be growing, as indicated by the ETF flows, though the price has not yet rallied significantly. Nexo analyst Liya Kalchev said the recent shift reflects tactical buying rather than conviction and that a clear recovery narrative may depend on legislative progress. The U.S. Senate is expected not to vote on the Clarity Act this month, which could limit further institutional entry.
A federal judge granted Bybit expedited discovery in its lawsuit seeking to trace assets stolen in a $1.5 billion North Korea‑linked hack. Bybit filed the sealed complaint on June 18 naming North Korea, its Reconnaissance General Bureau, the Lazarus Group and 20 unidentified defendants. The court approved the expedited discovery request on June 19. The expedited discovery allows Bybit to identify intermediaries and pursue a portion of the assets that remain traceable, rather than rely solely on a judgment against North Korea. In its complaint, Bybit alleges that some assets reached exchanges with U.S. infrastructure and requests account‑holder identities, balances and transaction histories. Bybit estimates that 90.2 % of the stolen funds became untraceable after passing through mixers, cross‑chain bridges and over‑the‑counter dealers, leaving 9.8 % — about $75.5 million — in identifiable wallets that have been frozen or recovered. The figures represent a decline from 68.57 % traceability reported by CEO Ben Zhou more than a year earlier. A temporary restraining order issued on June 19 prevented the unidentified defendants from transferring certain traceable assets, and the order was renewed on July 16. On July 30 the court partially granted a preliminary injunction. Some exhibits and related records remain sealed, and the litigation continues as Bybit seeks recovery of the remaining assets.
Bitcoin rose 2% to $65,212, its highest level since late July. The move came despite a hardware‑wallet security breach linked to weak randomness in seed‑phrase generation, a delay in the CLARITY Act, and months of stagnant price action that had led some holders to sell at a loss. CoinGlass reported $191.6 million in crypto liquidations across more than 80,000 traders, including a $1.66 million BTC position on Hyperliquid. Weekly net realized profit and loss remained negative at about $368 million, far below the $2 billion loss in February and $1.2 billion in June. About 119,000 BTC that had been held for at least a year moved after the breach, most transferred to new addresses rather than to exchanges, limiting immediate supply impact. US spot Bitcoin ETFs attracted roughly $754.7 million in inflows this week, the strongest weekly total since April, while on‑chain data showed wallets holding 10–10,000 BTC added more than 20,000 BTC, valued at over $1.2 billion. Smaller wallets reduced their balances, indicating a shift of supply from retail‑size holders to institutional and large‑holder accounts. Derivatives markets showed implied volatility around 23%, the lowest in Glassnode’s data, and leveraged funds remained heavily net short with open interest near historic lows. Asset‑manager exposure had fallen from its 2024 peak but stayed below its 50‑week average. The reduced selling pressure and renewed demand from ETFs and large holders have helped Bitcoin hold above $65,000, though sustained upside will likely require broader futures participation and increased open interest.
SharpLink CEO Joseph Chalom has opposed an Ethereum proposal that would eliminate issuance‑based staking rewards, arguing that the change could weaken institutional appeal and increase capital costs in decentralized finance.
Chalom said the proposal, identified as EIP‑8361, would burn a growing share of consensus‑layer rewards as the amount of staked ETH rises, reaching 100% when about 60.25 million ETH — roughly half of the current supply — is staked.
The proposal includes an estimated 18‑month transition intended to avoid an immediate decline in validator returns.
According to Chalom, current staking yields about 2.75% and transaction fees account for roughly 15% of total validator rewards, leaving operators heavily dependent on newly issued ETH.
SharpLink stakes nearly all of its ETH and has earned more than 18,000 ETH in cumulative rewards from nearly 900,000 ETH staked as of April.
The company committed $100 million to a $125 million on‑chain yield fund managed by Galaxy Digital, which plans to deploy capital across DeFi liquidity protocols while preserving SharpLink’s ETH exposure.
Chalom warned that reducing issuance rewards to zero could raise the effective cost of capital, make returns negative after expenses, and prompt collateral to move toward assets that continue producing yield.
He added that native yield provides ETH with an institutional advantage over Bitcoin, which offers only price exposure and no protocol‑native returns.
The proposal’s authors argue that the current issuance curve continues to provide a 1.5% yield even when nearly all ETH is staked and that the transition period mitigates an abrupt drop in returns.
Grayscale, the first U.S.‑listed Ethereum exchange‑traded product, began distributing staking rewards to shareholders in January, delivering approximately $9.4 million in cash from staking activity.
The debate over the proposal is expected to continue as developers consider whether to advance it toward a future network upgrade.
The proposal remains a draft and has not been approved for inclusion in an Ethereum upgrade.
Bybit, a Dubai‑based cryptocurrency exchange, filed a civil lawsuit in the U.S. District Court for the District of Columbia on February 21, 2025, naming North Korea, its Reconnaissance General Bureau intelligence agency and the Lazarus Group as defendants. The case seeks to recover assets stolen in a $1.5 billion hack that drained more than 400,000 ether and staked ether, the largest recorded cryptocurrency theft.
The attack occurred on February 21, 2025 and the Federal Bureau of Investigation attributed it to North Korean actors. U.S. authorities have tracked the funds under the designation TraderTraitor.
Bybit’s co‑founder and CEO, Ben Zhou, said the exchange has cooperated with investigators, regulators, other trading platforms and law enforcement since the breach, emphasizing a focus on user protection and accountability. The complaint requests a preliminary injunction that freezes assets held by unnamed defendants identified as John Doe while the litigation proceeds. The injunction does not represent a final ruling on liability or ownership.
Bybit is pursuing the civil claim separately from ongoing criminal investigations conducted by U.S. law enforcement agencies. The company previously offered rewards for information leading to recovery and covered withdrawal shortfalls using its own reserves and counterparty loans.
Traceability data released in March 2025 showed that 88.87 % of the stolen ether remained traceable, while 7.59 % had become untraceable and 3.54 % were frozen. By April 2025, the traceable portion fell to 27.6 % as the attackers converted assets to bitcoin and dispersed them across thousands of wallets, using cross‑chain protocols and mixers.
The case adds to a series of U.S. civil and criminal actions targeting North Korean cryptocurrency theft, which Chainalysis estimated at $2.02 billion in 2025 and a cumulative $6.75 billion since 2018. Lazarus‑linked attacks also drained $577 million from Drift Protocol and KelpDAO in April 2025.
Bybit plans to seek permanent relief and continue pursuing the frozen assets, while the court has not yet issued a final judgment.
Any recovery will depend on whether the named parties comply with the court order or settle, and U.S. authorities continue to investigate North Korea’s crypto operations.
The Senate postponed a vote on the CLARITY Act until after its August recess, leaving about 14 working days before the midterm election period.
The bill, intended to clarify rules for stablecoin rewards and related financial activities, had been scheduled for a vote before the August break. Majority Leader John Thune announced on August 6 that the legislation would not be considered before lawmakers adjourn, reversing an earlier expectation that a vote would occur before the recess. A spokesperson for Thune said on X that Democrats opposed a vote and that the bill would be prioritized when the chamber reconvenes on September 14.
The delay follows weeks of pressure from crypto executives and Republican lawmakers who urged a vote before the recess. Polymarket estimates the probability that the CLARITY Act will become law by the end of 2026 at 14%, down from over 80% earlier in the year. The legislation requires 60 Senate votes to overcome procedural hurdles. Republican negotiators have struggled to reconcile banking, ethics, and illicit‑finance provisions. Senator Jerry Moran of Kansas has indicated a preference for banking‑favored changes, complicating the coalition needed for the 60‑vote threshold.
Banking groups have argued that allowing exchanges and other intermediaries to offer rewards on stablecoin holdings could divert deposits from traditional banks and reduce lending capacity. The GENIUS Act already prohibits stablecoin issuers from paying interest directly, but banks contend that exchanges could circumvent the rule through ancillary products. Crypto companies counter that restricting such rewards would limit competition and harm consumers. In May, Senators Thom Tillis and Angela Alsobrooks introduced language to distinguish passive rewards from incentives tied to payments, but banking groups said the compromise was insufficient.
Democratic senators have demanded stronger anti‑money‑laundering safeguards and ethics rules that would restrict senior officials from profiting from crypto businesses, a concern highlighted by the Trump family's involvement in the sector. A bipartisan ethics proposal sent to the White House would require President Trump to divest from crypto‑related enterprises, though it also would allow deferral of capital gains taxes on the divestment, adding complexity to negotiations. Senator Chris Van Hollen said the bill was “not ready for prime time,” citing unresolved financial‑stability and illicit‑finance issues.
With the Senate reconvening on September 14 and scheduled to adjourn again on September 21, supporters have a limited window to build a 60‑vote coalition. The advocacy campaign will shift to the recess, when industry groups intend to lobby senators and seek compromises on the remaining disputes. When lawmakers return, the test will be whether enough Republicans and Democrats can agree to move the bill forward before the election season intensifies. The compressed timeline leaves little margin for another failed attempt, and the outcome will depend on whether negotiations can resolve the banking, ethics, and illicit‑finance disputes before the midterm election period.
Wintermute USA LLC announced on Aug. 6 that it has become a registered broker‑dealer with the Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority. The registration enables the firm to act as an authorized participant for digital‑asset exchange‑traded products and to trade equities and equity options for its own account.
Wintermute, which processes more than $10 billion of daily trading volume across over 60 centralized and decentralized exchanges, said founder Evgeny Gaevoy that the firm aims to operate in both traditional finance and digital assets, leveraging its technical and operational expertise.
The new status does not include customer brokerage or custody services, and Wintermute has not yet identified an ETF issuer that has appointed it as an authorized participant. The firm already provides liquidity for products such as Fidelity’s Wise Origin Bitcoin Fund and participates in swaps for BlackRock’s BUIDL tokenized money‑market fund via UniswapX.
The SEC’s July 2025 approval of in‑kind creation and redemption for Bitcoin and Ethereum ETFs expands the infrastructure that bridges traditional securities and crypto markets. Authorized participants must also be Depository Trust Company participants and enter fund‑specific agreements, which Wintermute has not yet disclosed, leaving its broader role in the ETF ecosystem pending further action.
BlackRock introduced two tokenized money market products aimed at stablecoin issuers, while Tether reported a $1.5 billion profit for the second quarter, underscoring the increasing overlap between cryptocurrency and traditional finance.
The U.S. GENIUS Act, enacted earlier this year, created a federal framework for payment stablecoins, prompting financial firms to develop onchain infrastructure that supports reserve management and liquidity.
BlackRock’s first product tokenizes shares of its Treasury liquidity strategy on Ethereum, allowing approved investors to transfer ownership onchain while the underlying assets remain invested in cash and short‑term US government securities. The second product is an institutional money market vehicle that supports multiple blockchains and automatically reinvests income, making it suitable for stablecoin reserve management. The launch expands BlackRock’s existing tokenized Treasury fund BUIDL.
A RedStone report found that tokenized bullion held value during a sharp gold sell‑off, yet DeFi lending adoption remains limited; only about $63 million of Tether Gold and PAX Gold is used as collateral on Aave v3 and Morpho, representing roughly 1.5 % of their combined $4.2 billion market caps.
American Bitcoin, a Nasdaq‑listed miner linked to the Trump family, reported 932 BTC produced in Q2, raising revenue to $67 million and narrowing its net loss to $57.2 million from $81.8 million in Q1. The company completed a 1‑for‑15 reverse stock split and holds 8,002 BTC, with about 3,090 BTC pledged as collateral under equipment purchase agreements.
Tether disclosed a $1.5 billion net operating profit driven primarily by interest earned on US Treasury holdings and repurchase agreements. Its reserve buffer stood at $4.11 billion as of June 30, with assets exceeding liabilities by that amount, and USDT circulating supply rose to $184.6 billion, maintaining a share of more than 60 % of the global stablecoin market.
The developments illustrate how crypto firms are increasingly relying on traditional financial tools, but the long‑term impact on market stability and regulatory oversight remains uncertain.
Senate Republican leaders said they will not hold a vote on the CLARITY Act before the August recess, pushing consideration of the bill to September. Majority Leader John Thune said the chamber will prioritize the measure when senators return, citing Democratic opposition. The CLARITY Act proposes a federal framework for digital asset markets and clarifies oversight responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The legislation has faced Democratic resistance, and supporters argue that without a framework, U.S. crypto users and developers may relocate abroad. Thune indicated that a procedural cloture vote could be filed before the recess but would not constitute a final vote on the bill. He added that Republicans are working to secure the 60‑vote threshold needed to overcome a filibuster. Senate Banking Committee Chair Tim Scott had urged a vote before the recess, saying Republicans are gaining support. Ji Hun Kim, CEO of the Crypto Council for Innovation, described the delay as disappointing but said the bill’s direction remains unchanged, emphasizing that continued uncertainty harms U.S. participants and consumers. The postponement leaves the bill unresolved and compresses the Senate’s schedule for advancing crypto regulation.
Donald Trump's media company terminated its agreement with Crypto.com to create a publicly traded entity that would accumulate and stake the CRO token, citing prevailing market conditions and shifting business priorities, and also ended a separate deal for Crypto.com to service planned Yorkville America exchange‑traded funds. The CRO token fell as much as 5% after the announcement.
Trump Media, which purchased $105 million of CRO in September 2025 as part of a partnership with Crypto.com, had announced plans to launch a publicly traded company focused on accumulating CRO and earning yields through staking. The partnership also included integrating token rewards into Truth Social and other products.
The termination was executed jointly by Trump Media, Crypto.com and Yorkville Acquisition, a special purpose acquisition company, on Friday. Interim CEO Kevin McGurn said the retreat reflects a saturated digital‑asset treasury market and a strategic shift toward media, data licensing and completing its merger with fusion‑energy firm TAE, expected to close before the end of 2026. The company also added 9,542 bitcoin, valued at roughly $165 million, to its balance sheet earlier this week, moving 2,628 BTC to addresses linked to Crypto.com.
Analysts noted that the CLARITY Act, which addresses ethics and conflict‑of‑interest concerns surrounding Trump’s crypto ventures, has stalled in Congress, adding regulatory uncertainty to the sector. Crypto.com's CEO Kris Marszalek did not comment on the termination.
The development underscores the challenges of integrating cryptocurrency into traditional media businesses as the broader treasury market contracts, and it remains unclear how the winding down will affect Trump Media’s broader digital‑asset strategy.
OKX's Haider Rafique said he doubts the Clarity Act will pass this year, noting that political considerations rather than policy disagreements are the main obstacle and that market optimism is already reflected in bitcoin's price. The Clarity Act, a major U.S. crypto market structure bill, aims to provide a regulatory framework for digital assets, but its prospects have been uncertain after the Senate postponed a vote this month and is expected to reconvene in September. Rafique, OKX's global managing partner for Corporate Affairs and Investor Relations, said Democrats have little incentive to support a Republican‑led bill before the midterm elections, especially given concerns about President Donald Trump's ties to the crypto industry. He added that the legislation's positive impact is largely priced into bitcoin, with only a modest 3‑4% rally expected if it passes, while failure could push bitcoin toward $55,000. Rafique also outlined OKX's plans to expand its partnership with Intercontinental Exchange to offer tokenized equities, futures and other traditional assets onchain, stating that tokenized stocks would retain investor governance rights. He argued that without regulatory clarity, U.S. companies may continue moving abroad, citing examples such as Hyperliquid and Backpack. The next opportunity for a vote is expected in September, and the outcome will influence the trajectory of U.S. crypto regulation and market participation.
Approximately 210,000 bitcoin left long‑term holder wallets over the past seven days, marking the biggest weekly drop in that cohort since December 2024.
Glassnode classifies long‑term holders as entities whose coins have remained dormant for at least 155 days, a cohort that typically holds through short‑term volatility.
The decline follows a security breach at Coldcard, a hardware wallet manufacturer, in which weak randomness in firmware allowed attackers to reconstruct certain wallet recovery phrases and drain funds.
The breach impacted thousands of addresses and resulted in estimated losses of up to $114 million, according to reports. Coldcard advised affected users to generate new wallets, noting that firmware updates alone cannot secure keys that may already be compromised.
On‑chain data show the 210,000 bitcoin move coincides with a period when bitcoin trades around $64,000, roughly half of its October all‑time high. The shift does not appear to reflect profit‑taking; rather, it may represent a broader migration toward new self‑custody wallets or regulated custody services.
U.S. spot bitcoin exchange‑traded funds attracted about $754 million in inflows over the same week, with BlackRock’s iShares Bitcoin Trust accounting for the majority, suggesting that some holders are moving assets into ETFs.
Whether the on‑chain movement will influence market sentiment or price remains uncertain, as the migration reflects changing custody preferences rather than a clear sell‑off signal.
A bitcoin wallet that has been inactive since 2011 transferred nearly 50 BTC, valued at about $3.2 million, on August 6, 2026, sending the coins to a SegWit address that previously received bitcoin for FalconX. The wallet originally received 49.97 BTC on July 16, 2011, when bitcoin traded around $10, and has remained untouched since. The transaction, recorded in block 961331 at 20:14 UTC, combined four inputs totaling 49.97 BTC with two smaller inputs, creating a total output of 50 BTC and a residual 0.00116 BTC after fees. The destination address has been active for several years, has sent bitcoin to FalconX‑linked wallets, and has previously accepted funds from wallets identified by Arkham as Nexo and Prime Trust. As of Friday morning, the 50 BTC remained in that address, with no on‑chain evidence that the coins had been moved to an exchange or sold. The transfer follows a recent exploit of Coldcard hardware wallets that resulted in up to $114 million being stolen, prompting long‑term holders to reassess their storage solutions, although no link has been established between the 2011 wallet and the vulnerability. The movement underscores renewed attention to dormant wallets and highlights ongoing security considerations within the cryptocurrency ecosystem.
Bitcoin Red Team reported that AI‑assisted review of 425 projects yielded 6,700 findings in 55 hours, of which 1,029 were classified as high or critical. The campaign’s first 27.5‑hour snapshot covered 390 projects and 4,962 findings, with 85 critical and 635 high severity issues; the 55‑hour update added 35 projects and 1,738 findings. Of the total findings, 15.4 % were labeled high or critical, and three of the 24 reported participants were automated bots. Spending on the effort reached about $20,000, with more than a dozen critical disclosures made after proof‑of‑concept testing, and the campaign identified operational bottlenecks in outreach, triage and handoff. The report did not provide data on verified exploits, remediation rates, or the proportion of findings that were corrected, leaving the impact of the findings uncertain. The initiative demonstrates the speed at which AI can scan the Bitcoin ecosystem, but the lack of post‑scan validation prevents assessment of its security value.
On August 7, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on the crypto exchanges Shelbit and Aban Tether and on Siavash Kayvanpour, alleging that they facilitated the movement of more than $1 million in cryptocurrency linked to Iran’s Islamic Revolutionary Guard Corps (IRGC). The sanctions are part of a broader U.S. effort to restrict Iran’s ability to use international financial channels. OFAC said the targeted exchanges operate with limited regulatory oversight and have been used to route digital assets through corporate networks and an online gambling operation. Shelbit addresses received more than $1 million from IRGC‑linked wallets and transferred over $2 million to wallets controlled by the IRGC, according to OFAC. Additional wallets associated with Kayvanpour sent more than $2 million to Nobitex, which the Treasury identified as Iran’s primary cryptocurrency exchange. The Treasury also listed several Bitcoin, Ethereum, Tron and Solana addresses tied to the sanctioned entities and instructed financial firms to include them in transaction‑screening systems. Treasury Secretary Scott Bessent said the United States will hunt down and dismantle illicit financial networks that keep the regime afloat. OFAC announced that entities owned at least 50 percent by a designated party are also covered, even if not named individually. Foreign exchanges, stablecoin issuers and payment providers may face secondary sanctions if they knowingly process transactions involving the designated parties. The designations are administrative and not criminal convictions, but they block property and interests in property belonging to the designated parties when those assets are within U.S. jurisdiction. Crypto firms must update screening procedures to block transfers to the listed addresses and entities, and secondary sanctions may apply to any foreign firm that processes such transactions.
Senate leaders postponed a vote on the CLARITY Act until September, ending efforts to pass the crypto market structure bill before the August recess. Senate Majority Leader John Thune said the bill will be prepared for consideration after the recess.
Negotiations have focused on ethics restrictions for elected officials and their families, illicit finance safeguards, stablecoin rewards and protections for noncustodial software developers.
Bitwise Chief Investment Officer Matt Hougan said the delay could cause crypto markets to wobble briefly as traders adjust expectations. He noted that Polymarket odds of the bill’s passage in 2026 have fallen to around 17%.
Bitcoin remained above $64,400, Ethereum held above $1,900 and XRP traded near $1.05 at the time of the report. Polymarket probability had previously been above 70% earlier in the year.
Senator Cynthia Lummis said lawmakers had worked on the legislation for 11 months and continued negotiating daily, while Senator Elizabeth Warren expressed support for crypto legislation but opposed the current bill, citing concerns about political conflicts of interest, consumer protection, national security and financial stability.
The market reaction to the delay was limited, with no broad sell‑off observed in major cryptocurrencies.
Senators are expected to resume negotiations during the August recess and return in September. The bill still requires bipartisan agreement, a cloture filing and at least 60 votes to proceed. Any amendments to the House‑passed version would need House approval before reaching President Donald Trump.
Passage in 2026 therefore remains uncertain until a bipartisan deal or cloture motion emerges.
BitGo investors have received notices from several law firms warning that Aug. 7 is the deadline for individuals seeking to serve as lead plaintiff in a proposed securities class action filed against the crypto custodian.
The deadline relates to the 60‑day window under the Private Securities Litigation Reform Act that governs the lead‑plaintiff process, which determines who may petition the court to oversee the litigation and select counsel.
The lawsuit, Arsenault v. BitGo Holdings, was filed on June 8 in the U.S. District Court for the Eastern District of New York. Plaintiffs allege that BitGo’s prospectus contained negligent preparations, untrue statements, or omitted material facts that made the offering documents misleading, and that the company downplayed the risk of declining digital‑asset prices.
BitGo, a custodian managing more than $100 billion in assets, went public earlier this year. Its IPO prospectus disclosed that a hypothetical 50 % change in Bitcoin’s fair value would have affected net income by about $135.1 million for the first nine months of 2025. The company reported a $60.7 million loss in the first quarter, including $53.7 million in unrealized digital‑asset losses, and staking revenue fell 66.2 % amid lower token prices.
The Aug. 7 deadline applies only to those who wish to pursue the lead‑plaintiff role; investors who do not seek that position are not required to act by that date. Additional deadlines for opt‑out or proof‑of‑claim filings may arise later if the case proceeds.
The class‑action proceedings remain pending, and the outcome will depend on the court’s determination of the lead plaintiff and the merits of the alleged securities violations.
Coinbase said it will suspend LRC‑USD trading on its platforms at around 2 p.m. ET on August 7, while keeping customer balances and withdrawals available. Loopring announced on June 28 that its decentralized exchange would cease operations and its relayer would go offline, prompting the withdrawal of about $7.40 million in ETH and 72 ERC‑20 tokens to roughly 31,644 Ethereum addresses across 142 batches. The project’s own exchange is not operational, leaving Coinbase as the primary venue for LRC‑USD trading. Coinbase marked the change as Monitoring and kept LRC‑USD in limit‑only mode as of the latest update. The exchange noted that withdrawals remain possible but require a destination that supports LRC, the chosen network, and the holder’s jurisdiction. Other venues, including Kraken, OKX and SwissBorg, list LRC pairs such as LRC/USD, LRC/EUR and LRC/USDT, though they do not guarantee full deposit, withdrawal or execution access for every user. CoinGecko data showed LRC trading at approximately $0.01031 with 24‑hour volume of $3.53 million across 46 exchanges and 55 markets, with BitDelta accounting for about half of the reported volume. Holders must confirm network support and jurisdictional eligibility before moving tokens, and the manual recovery process for excluded smart‑wallet cases has an August 15 deadline. The market remains concentrated, and the effect of the Coinbase suspension on overall LRC liquidity is still unclear.
Circle announced that its USDC stablecoin and Cross‑Chain Transfer Protocol are now available on X Layer, OKX’s Ethereum layer‑2 network. The integration lets Ethereum‑compatible applications run on X Layer with minimal changes, supporting payments, DeFi lending and borrowing, trading and cross‑chain transfers. Eligible businesses can also use Circle Mint to provide on‑ and off‑ramps for USDC.
OKX processed more than $975 million in spot trading volume over the past 24 hours, ranking it fourth by volume among crypto exchanges, according to CoinMarketCap. USDC is the second‑largest stablecoin by market capitalization.
The CCTP mechanism burns tokens on the source chain and mints an equivalent amount on the destination chain, enabling transfers between X Layer and other supported blockchains.
The expansion broadens USDC’s availability within the OKX ecosystem and may increase liquidity for its users.
Perpetual futures trading volume on centralized cryptocurrency exchanges fell to $4 trillion in July, the lowest level since December 2023. Binance reported $1.4 trillion, OKX $607 billion and Bybit $300 billion, according to CryptoRank. The monthly decline followed a brief rebound between April and June, after which volume fell across all major venues. Spot trading volume on centralized exchanges dropped 23.6% during July, falling from $17.8 billion to $13.6 billion, according to Coinglass. Perpetual futures volume on decentralized exchanges dropped to $531 billion in July, the lowest since June 2025 and down 21% from $676 billion in June 2026, according to DefiLlama. Open interest on decentralized exchanges fell to $17.9 billion in July from a September 2025 peak of $19.4 billion. Hyperliquid, the leading decentralized exchange, reported $199 billion in trading volume over the past 30 days, with tokenized real-world assets accounting for 32% of its second-quarter activity and 6.6% of its $169 million quarterly revenue. Tokenized assets became Hyperliquid’s largest trading category in July, reaching 52% of its weekly volume between July 13 and July 19. The decline in futures and spot volumes coincides with reduced market participation, though no single factor was identified as the primary driver.
American Bitcoin board member Justin Mateen purchased nearly $1.93 million of ABTC stock over two consecutive trading sessions in August, increasing his beneficial ownership to 492,297 Class A shares.
Mateen, a co‑founder of Tinder who has served on the company’s board since March 2025, bought 145,000 shares on August 5 at an average price of $6.40 each for $925,000 and 162,000 shares on August 6 at an average price of $6.19 each for $1 million, according to regulatory filings.
The purchases followed the release of the company’s Q2 earnings, which reported a net loss of about $57 million and record quarterly mining output of 932 bitcoin, bringing its treasury to more than 8,000 bitcoin.
American Bitcoin, a Nasdaq‑listed firm that counts Donald Trump Jr. and Eric Trump among its investors, pursues a mine‑and‑hold strategy that combines large‑scale mining with corporate bitcoin holdings. Investors have watched the recent insider buying as an indicator of confidence in the company’s treasury growth.
The transaction highlights continued shareholder activity amid the firm’s effort to expand its bitcoin exposure through mining operations.