Strategy, formerly known as MicroStrategy, has sold Bitcoin for four consecutive weeks, reducing its holdings to 842,138 BTC and recording an $8.2 billion paper loss and a $102 million realized loss on a $218 million sale used to cover preferred stock dividends. The company disclosed the transactions in its SEC filings and on‑chain data, without holding a press conference or updating its public guidance on Bitcoin as a treasury reserve. Since converting $250 million of its treasury into Bitcoin in August 2020, Strategy accumulated more than 843,000 BTC through operating cash flow, convertible notes, equity offerings and preferred stock issuances, creating a stock price premium tied to the accumulation thesis. The $218 million sale marked the first time the firm used Bitcoin sales to meet financial obligations rather than as a planned decision, indicating a shift from a permanent holding strategy to a liquidity‑driven approach. The $8.2 billion loss reflects the decline in Bitcoin’s price during the quarter under new FASB fair‑value accounting rules that require quarterly marking to market; the loss is a paper figure but it affects reported earnings and tax positions. The realized loss on the dividend‑covering sale shows that a portion of the Bitcoin was purchased at prices above the current market level. Daily inflows into spot Bitcoin ETFs have averaged about $150 million, absorbing the sales without causing a measurable price decline, though a slowdown in ETF inflows could expose the market to greater price impact. Strategy’s convertible notes and preferred stock create obligations that became difficult to meet as Bitcoin’s price fell from $108,000 in January 2026 to $63,800 in August, prompting the sales. The firm has indicated that it may resume buying if Bitcoin’s price recovers and financial pressure eases, a scenario that would be confirmed by a net purchase entry in its next 8‑K filing.
Bitcoin, Ethereum, regulation, and the forces moving digital assets.
Goldman Sachs agreed to acquire NEOS Investments, the manager of the BTCI bitcoin synthetic exchange‑traded fund, in a cash‑and‑equity transaction valued at up to $2.25 billion, with settlement expected in early 2027 pending regulatory approval, the firm said. BTCI, launched in October 2024, uses a covered‑call strategy on bitcoin exchange‑traded products to generate roughly 27 % annual yield and has amassed $1.1 billion in assets, though its share price has fallen about 43 % over the past year and it carries a 0.99 % expense ratio, according to Bloomberg analyst Eric Balchunas. The acquisition grants Goldman Sachs access to a $30 billion options‑based ETF platform spanning 19 funds and, together with its existing ETF assets, will bring total assets under supervision to more than $130 billion, which would rank it among the top eight ETF managers globally, the company said. NEOS co‑founders Troy Cates and Garrett Paolella will join Goldman as partners after the transaction closes. Goldman previously filed a Bitcoin Premium Income ETF with the SEC on April 14, a product that mirrors BTCI’s structure, Balchunas noted. A senior analyst who declined to be identified said the deal reflects Goldman’s effort to broaden its ETF offerings beyond bitcoin. BlackRock introduced its own bitcoin income ETF, BITA, on June 16, targeting a 15‑25 % yield and an expense ratio of 0.65 %, the firm said. BTCI’s prospectus indicates that some distributions may represent a return of capital rather than net investment income, a factor investors should consider. The transaction is subject to performance targets and regulatory approval and is expected to close in the first quarter of 2027.
Kraken, a U.S.-based cryptocurrency exchange, added an S&P 500 perpetual product to its Kraken Prop trading program on Wednesday. The product is priced off an index oracle that tracks the S&P 500 and has no expiration date or rollover requirement. The perpetual contract is structured as a perpetual rather than a standardized futures contract, meaning it has no expiration date or rollover requirement. It joins the Nasdaq 100 as the second traditional market available through Kraken Prop. Traders can access the market via evaluation or funded accounts with up to 5x leverage and a maximum notional exposure of $1 million. Evaluation plans start at $20 and funded account sizes range from $5,000 to $200,000. The launch follows a July decision by Kraken to give retail investors direct share allocations for the Jersey Mike’s initial public offering and tokenized shares in more than 110 countries. The company plans to add commodities to the perpetual lineup as part of a broader multi‑asset rollout. The expansion reflects Kraken’s strategy to broaden its traditional market exposure within the crypto ecosystem.
Arizona's crypto ATM law has enabled 35 scam victims to receive full refunds totaling $171,332 since the law took effect on September 26, 2025, according to a release from Attorney General Kris Mayes on August 12. The refunds covered the entire transaction amount and any associated fees and were issued to individuals who qualified as new customers, defined as those who had used an operator’s kiosk for fewer than ten days.
The law, enacted as House Bill 2387 in May 2025, sets a daily transaction limit of $2,000 for new customers and $10,500 for existing customers, requires operators to provide round‑the‑clock customer service, display transaction receipts, and use blockchain tracing tools to detect transfers to known fraudulent wallets. Operators must also issue warnings and retain records for investigative purposes.
FBI data recorded 13,460 complaints involving cryptocurrency kiosks in 2025 and more than $389 million in reported losses, a 23 percent increase in complaints and a 58 percent rise in losses from 2024. The majority of reported losses involved individuals aged 50 and older. While Arizona’s refunds provide the first concrete evidence of the law’s impact, the state has not disclosed the number of eligible victims who have not yet received reimbursement, nor the identities of the operators involved.
The Attorney General’s Office urges victims to act promptly to meet the 30‑day reporting deadline and to retain transaction receipts. The law gives the attorney general authority to enforce compliance under the state’s consumer fraud statute, and operators face additional duties, including anti‑fraud controls and continuous customer support. Future disclosures on claim volumes and operator compliance will determine how effectively Arizona’s regulatory model compares with states that have moved to prohibit kiosks entirely.
More than three dozen bitcoin and cryptocurrency firms have asked major AI labs to give open‑source security researchers early access to their most powerful models, saying the defenders are using weaker tools than attackers. The letter, organized by the Bitcoin Policy Institute and signed by Coinbase, Block, BitGo, Blockstream, Anchorage Digital, ARK Invest, Bitwise, Foundry, Casa, Exodus and nonprofit funds such as Brink, Chaincode and Btrust, states that Bitcoin Core developers cannot obtain trusted‑partner access and are blocked by safety filters on publicly available models. Recent exploits against BTCPay Server and Lightning nodes, uncovered in part by the volunteer Bitcoin Red Team, illustrate the gap. The signatories request early model access before public release, sufficient computing resources for reviews, secure environments for examining private code, eligibility for small and independent maintainers, and a direct channel to lab security teams for reporting vulnerabilities. BTCPay Server disclosed a critical flaw last week that attackers had already used to drain merchant Lightning nodes, and a hardware wallet maker also reported a compromised node in the same attack. The volunteer group has filed thousands of findings across hundreds of projects, including the report that led to BTCPay’s patch. The request underscores a growing need for AI‑driven security capabilities to protect a trillion‑dollar cryptocurrency ecosystem, but the labs have not yet responded.
The Office of the Comptroller of the Currency returned Zerohash's application for a U.S. trust bank charter on July 17, citing material deficiencies, and the firm said it will submit a revised, narrower application by the end of August. Zerohash, a crypto infrastructure provider used by firms such as Morgan Stanley's E*Trade, is among many companies seeking provisional trust bank charters to handle digital asset activities after the passage of the Stablecoin Act. The regulator's return indicates the filing lacked required financial or officer information and did not adequately respond to supplemental information requests. Unlike outright denials, the return allows Zerohash to reapply without a formal decision on the merits. The company noted its current operations remain unchanged and that it already holds a state‑chartered trust bank. It also disclosed plans to focus on a more sequenced rollout, starting with a focused approval of national trust activities. The firm had previously advertised roles for a national trust officer and chief operating officer under a pending charter. The OCC has approved or conditionally approved several fintech applications in the past year, including Circle, Ripple, Paxos, BitGo, Fidelity Digital Assets, Crypto.com and Payoneer. An objection from the Independent Community Bankers of America raised concerns about the speed of approvals. Zerohash had been pursuing a valuation above $1.5 billion and had been in talks with Mastercard before the acquisition fell through. It is also involved in a legal dispute with former chief compliance officer Edgar Guerra, who alleges more than 200 compliance gaps related to money‑laundering controls; the lawsuit remains pending. The outcome of Zerohash's resubmission will indicate whether the OCC's accelerated review process can accommodate the growing number of crypto‑focused banking applicants.
Bitcoin rose 0.23% since midnight UTC to around $63,979, bringing its market capitalization to $2.19 trillion and the Fear and Greed index to 38. The U.S. Consumer Price Index for July is scheduled for 12:30 UTC, a key indicator for risk assets. Brent crude traded near $90 per barrel after Houthi attacks on shipping in the Bab el-Mandeb Strait and a U.S. strike on a vessel in the Gulf of Oman raised supply concerns.
Harmony disclosed an exploit early on the Asian trading day, in which an attacker minted approximately 4 billion ONE tokens via empty blocks, equal to about 26% of the token’s circulating supply. Roughly 2.8 billion tokens were transferred to exchanges, causing ONE’s price to drop as much as 40% to a record low.
Derivatives data showed a change in taker sentiment: the long‑short ratio for market orders shifted to 51.36% shorts, up from earlier levels, while open interest in AVAX increased 6% as price declined. Dogecoin futures open interest rose to 17.2 billion tokens, the highest level since October, while Bitcoin and Ether open interest remained below 750,000 BTC and 1.9 million ETH respectively, indicating subdued participation.
Cumulative volume delta was negative for most of the 25 largest cryptocurrencies, suggesting broad selling pressure, though Chainlink, Cronos and Tron posted modest gains.
Implied volatility remained low, with the 30‑day Bitcoin volatility index at 37.5% and one‑week volatility also subdued. In the Deribit options market, the $70,000 call contract was the most active, and strangle positions grew, indicating traders’ anticipation of a significant move following the CPI release.
CRV rose about 35% over the past week as a scheduled 15% emissions reduction approaches, while UNI fell more than 10% in 24 hours without an obvious catalyst. Monero increased 5.8% since midnight and retraced Tuesday’s decline, and AI‑related tokens NEAR, FET and TAO each gained between 1.3% and 2.3%. Zcash’s Tachyon upgrade, aimed at scaling shielded payments and improving quantum readiness, was announced on June 30, 2026.
The market will watch the CPI data to assess its effect on crypto risk appetite, and low volatility suggests that participants are not currently pricing a large post‑release move.
Metaplanet CEO Simon Gerovich said Thursday that the company did not sell Bitcoin after moving 5,014 BTC valued at roughly $322 million between Wednesday and Thursday, and that its holdings remain at 43,000 BTC.
Metaplanet, the third‑largest publicly traded Bitcoin treasury company and the largest in Asia, reported an unrealized loss of about $1.4 billion on its holdings according to Arkham data. The transfer occurred over a 24‑hour period and incurred network fees of approximately $8 million.
Gerovich described the movement as a routine custody operation, emphasizing that no Bitcoin was sold. The firm continues to expand its strategy beyond accumulation; in March it launched Metaplanet Ventures, committing 4 billion yen ($25 million) over two to three years to invest in Bitcoin and crypto infrastructure in Japan, with targets of 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.
The company has not indicated any change in its long‑term Bitcoin acquisition goals, and the transfer has not affected its stated plans for additional holdings.
Hawaii will prohibit cash-to-crypto transactions at kiosks effective October 1, 2026, after the FBI recorded 92 complaints and $3.85 million in adjusted losses among state residents in 2025. The ban is part of Act 224, House Bill 1642, signed by Governor Josh Green on July 9, which bars operators from accepting U.S. currency for digital assets through kiosks. Operators may continue crypto-to-cash withdrawals and crypto-to-crypto exchanges, but must disable the cash deposit function before the deadline. The law classifies each prohibited transaction as a separate offense under the state’s consumer protection statute. Lawmakers cited FBI data and investigations from Iowa and the District of Columbia that found fraud accounted for a large share of kiosk transactions, with some operators reporting up to 90% fraud rates. Hawaii has 57 crypto ATMs operating across four islands as of August 12. The restriction applies only to cash deposits used to purchase cryptocurrency; it does not prevent online crypto purchases, sales, or holding, nor does it block crypto-to-cash or crypto-to-crypto services. Other states have varied approaches, with some imposing total bans and others imposing licensing or transaction limits. At the federal level, operators that qualify as money services businesses must register with FinCEN and comply with Bank Secrecy Act requirements, but state rules can be stricter. The measure aims to reduce scams that use kiosks to collect cash from victims, many of whom are older adults, while allowing other kiosk functions to remain operational.
Russia's central bank has issued a draft directive that would permit public organized trading of Bitcoin, Ethereum and Tether's USDT, imposing a yearly purchase limit of 300,000 rubles for non‑qualified investors through a single broker. The proposal, which is open for comments until Aug. 24, would allow the central bank to adjust the list of eligible assets, the cap or other terms before finalizing the rule. If adopted, the regulation would take effect on Sept. 1, 10 days after official publication. Under the draft, individuals who are not qualified investors may spend up to 300,000 rubles on cryptocurrency through one broker in a calendar year, with the limit calculated on the total ruble value of purchases made with that broker. Qualified investors, required to pass a test, would be able to trade any cryptocurrency via regulated intermediaries without a cap. The framework would incorporate brokers and management companies alongside crypto exchanges and digital repositories, with organized trading provided as a single transaction channel. Brokers would also facilitate additional transaction routes, while digital repositories would record ownership rights. A separate provision in the broader regulatory package would permit exporters and importers to use any wallet or cryptocurrency for cross‑border payments, either directly or through intermediaries. The Aug. 24 deadline represents the immediate decision point for the organized‑trading gate, and the final directive's wording and publication date remain undecided.
Hawaii will enforce a ban on cryptocurrency ATMs and kiosks effective October 1, after Governor Josh Green signed House Bill 1642 in July. The legislation defines the prohibited activity as the ownership, operation, or management of a digital financial asset transaction kiosk that accepts U.S. currency in exchange for a digital asset. Federal data from the FBI’s Internet Crime Complaint Center reported that Americans lost more than $11 billion to digital‑asset scams in 2025, including 826 complaints from Hawaii residents and about $80 million in losses in the state. The ban follows similar measures enacted in Minnesota, Tennessee and Indiana, and includes proposals in Delaware and New Jersey while South Dakota and Wyoming have imposed stricter regulations on crypto ATM operations. CoinATMRadar reported 57 crypto ATMs and kiosks operating across Hawaii’s four main islands as of the Wednesday preceding the enforcement date. The measure takes effect on October 1, joining a growing trend of state‑level restrictions on cryptocurrency transaction machines.
Rosherville Pty Ltd notified the Australian Securities Exchange on August 12 that it will seek Federal Court permission to bring a statutory derivative action against former ASX directors over the CHESS replacement project.
The exchange was ordered in July by Justice Markovic to pay A$20.5 million and A$3 million in costs after admitting that its February 2022 statement that the replacement project was progressing well was misleading.
Internal records showed the project had been rated red, was off the critical path, and had undergone reduced testing before the planned April 2023 launch. ASX wrote off A$245 million to A$255 million, discontinued the original distributed ledger system, and replaced it with a platform from Tata Consultancy Services.
The Federal Court must be satisfied that the applicant acts in good faith, that granting leave is in the company’s best interests, that a serious question to be tried exists, and that ASX is unlikely to pursue the matter itself, per sections 236 and 237 of the Corporations Act.
Rosherville’s notice does not identify the former officials, detail the alleged breaches of directors’ duties, or state the remedies it seeks, according to its disclosure.
An ASIC inquiry released in April found weaknesses in ASX governance, risk management, and technology oversight. Regulators have imposed a A$150 million capital charge to be met by June 2027 and are overseeing reforms to clearing and settlement governance. Digital Asset Holdings, which developed the original distributed ledger technology, maintains an office in New York and announced a $355 million funding round in June 2026, but ASX’s notice contains no allegation against the company.
ASX has not set a hearing date and the Federal Court has not yet decided whether Rosherville may proceed. The exchange said it will provide further market updates in line with its continuous disclosure obligations.
Rosherville must obtain court leave before any individual accountability claims can be tested.
The SEC will vote on August 14 to publish a 400-page proposal that creates a regulatory framework for crypto token offerings.
The SEC will vote on August 14 to publish a 400-page proposal that creates a regulatory framework for crypto token offerings. This would be the first formal rulemaking effort by the agency for digital assets, moving beyond enforcement actions that have targeted companies such as Ripple and Coinbase. The proposal outlines three distinct pathways for token issuance. The startup exemption would allow early-stage teams to raise approximately $5 million using a whitepaper-style disclosure for up to four years, requiring material information about the project, token, team and use of proceeds. The fundraising exemption permits raises of up to $75 million in any 12-month period, subject to audited financial statements and semiannual reporting to the SEC, a structure comparable to Regulation A+ in traditional securities law. The investment contract safe harbor would permit tokens to exit securities classification when the network reaches a defined level of decentralization, requiring that the founding team cease essential managerial efforts and that the network operate autonomously, with verification of specific criteria. The safe harbor also includes provisions that could address decentralized finance protocols, distinguishing the protocol layer from the access layer that may be subject to regulatory oversight. The proposal has drawn criticism from some Democratic lawmakers who warn that the exemptions may undermine investor protections, while industry participants note that clear rules are needed after years of regulatory uncertainty. The vote does not adopt the rule; it authorizes a public comment period that will shape the final version. Commissioner Hester Peirce, head of the SEC’s Crypto Task Force, will leave the commission in November 2026 for a faculty position at Regent University School of Law, creating urgency to publish the proposal before her departure. The SEC’s existing authority, rather than congressional legislation such as the stalled CLARITY Act, would govern the framework. If adopted, the framework would provide legal certainty for issuers, enable institutional investment, and clarify the regulatory status of tokens that transition from securities to commodities.
CFTC orders Kalshi to continue operating after declaring a market emergency, as New York attorney general files a $36 billion lawsuit alleging the exchange offers unlicensed sports prediction contracts.
The Commodity Futures Trading Commission said the order, issued on Aug. 11, allows KalshiEX LLC to keep trading while the dispute is resolved, citing the need to preserve market resilience and price discovery. The agency noted that New York’s enforcement could expose the firm to more than $36 billion in damages.
New York’s lawsuit, filed July 31 by Attorney General Letitia James, claims Kalshi operates sports prediction markets without a New York State Gaming Commission license, effectively running an unlicensed gambling business. The complaint seeks the return of gains, consumer restitution and penalties equal to three times the alleged profits.
CFTC Chairman Michael Selig rejected New York’s approach, saying state gambling laws cannot regulate interstate derivatives markets. He argued that Congress intended federally regulated exchanges to maintain a uniform national market and that platforms such as Kalshi match bets across state lines before sending trades to nationwide clearinghouses.
New York City Council Speaker Julie Menin announced on Aug. 12 that the council is reviewing alleged deceptive marketing practices by prediction‑market platforms, including Kalshi, Polymarket, Coinbase and Gemini. The council plans a hearing to assess whether current consumer‑protection rules are sufficient or whether new legislation, enforcement actions or public education campaigns are needed.
Kalshi’s commercial growth remains strong despite the regulatory pressure. The company is in advanced talks for a Series G round at about $40 billion, nearly double its May valuation of $22 billion. Annualized revenue topped $4 billion in July, driven largely by World Cup trading, which saw roughly $27 billion in volume and 3 million users. Recent data show about $11 billion in trading activity over the past 30 days.
The core legal question remains whether federal derivatives law preempts state gambling regulations. If courts determine that preemption does not apply, the outcome could affect the ability of prediction‑market platforms to operate nationwide.
Public miners, which validate transactions and receive newly issued BTC, held 127,000 BTC at the start of 2026, according to Blockware Intelligence. By August, their holdings had fallen to 99,000 BTC, indicating sales of about 28,000 BTC, worth $1.78 billion at current prices. During the same period, net outflows from U.S. spot crypto ETFs exceeded $4.4 billion, forcing the funds to liquidate bitcoin holdings, as reported by SoSoValue. The 28,000 BTC sold by miners represent a smaller volume than the ETF outflows but can affect price because market movements are set at the margin, especially when buying interest is weak, analysts noted. Many large miners have reported reduced profit margins, with the average production cost estimated at $74,300 per bitcoin, prompting some to exit the industry or shift to artificial intelligence using their electrical capacity, a trend that has contributed to a decline in network difficulty of roughly 18% since November, according to Blockware. Reduced difficulty and fewer competing miners have increased rewards for remaining participants, a market-driven adjustment that could encourage new entrants if profitability improves. Analysts from Blockware Solutions said early‑year sales from public miners have contributed to bitcoin’s price decline this year. The overall 27% drop in bitcoin’s price since the beginning of 2026, which has left the asset below $64,000, reflects a combination of ETF outflows, long‑dormant holder sales, and the recent exit of major mining operations, and the market’s reaction to further miner sales remains uncertain.
Solana remained operational on Aug. 12 after 102 of 699 staked validators stopped voting while 597 continued to vote, allowing blocks and transactions to be processed normally. The disruption, traced to a malformed route from Teraswitch’s Miami facility, temporarily affected twelve validator sites in Europe and Asia before engineers corrected the route within ten minutes and restored service in 40 minutes, according to Jacob Creech, technology executive at the Solana Foundation. Five hundred ninety-seven validators kept voting, and Solana’s official status page recorded 100% cluster uptime over the prior 90 days with no mainnet incident logged. The network did not require a restart, unlike the February 2024 outage that halted block production for nearly five hours. Delinquent stake reached 28.83% of total staked SOL, remaining delinquent for about 33 minutes, and approached 86% of the threshold at which finality would stop, according to Marinade Finance analysis. The concentration of stake in a single autonomous system that held more than 118.9 million SOL represented more than a quarter of all staked SOL and 94% of that system's total stake. The root cause of the route error is under investigation, and Teraswitch has deployed a global configuration change to prevent recurrence. Validator operators are expected to reassess infrastructure redundancy, and the Solana Foundation noted that its Delegation Program validators were unaffected.
GSR adjusted its Core3 model on August 12, raising Solana’s allocation to 43.6% and making it the largest position, while reducing Bitcoin’s weight to 16.9% and lowering Ether to 39.5%.
In the prior week, the model held 36.5% Solana, 44.1% Ether and 19.3% Bitcoin, representing a 7.1‑percentage‑point increase for Solana and corresponding declines for Ether and Bitcoin.
Solana rose 2.98% over the past seven days, outperforming Bitcoin’s 1.02% decline and Ether’s 0.20% slip. Over the past 30 days, Ether gained 7.88%, Bitcoin 3.19% and Solana 2.44%.
Core3 returned 0.85% in the latest week and 5.30% over the past month, compared with 0.59% and 4.68% for an equal‑weight basket.
GSR reported 30‑day volatility of 26.82% for Bitcoin, 39.75% for Ether and 35.26% for Solana, with Solana trading volume softening over both periods.
The firm said the rebalancing reflects proprietary relative alpha signals rather than a simple ranking of recent returns. It emphasized that Core3 is a model framework intended for professional investors and does not constitute investment advice.
The shift coincides with expanded U.S. access to Solana, including Morgan Stanley’s launch of the Solana Trust (MSOL) on NYSE Arca and a waiver of the 0.21% sponsor fee by 21Shares for its TSOL product.
GSR will publish the next Core3 allocation on August 19, which will indicate whether the Solana overweight continues or reverses.
The U.S. Commodity Futures Trading Commission (CFTC) released guidance on Wednesday warning prediction market platforms to file accurate incentive program documents and avoid structures that could encourage improper trading behavior. Prediction markets are online platforms that let participants trade contracts based on the outcome of future events and are regulated as designated contract markets under the CFTC. The agency noted an increase in filings aimed at incentive programs that are often procedurally or substantively deficient, making it difficult for the CFTC to assess whether the platforms have provided adequate notice of program terms and evaluated compliance. Some reward features may prompt participants to trade solely to meet volume targets, raising risks of wash‑trading, pre‑arranged trades, or other manipulative practices. Market maker programs that offer stipends or rebates to cover losses have also been flagged as potentially encouraging fraudulent behavior. The CFTC previously proposed its first prediction‑market rule in June and has used advisories, such as a recent warning against cutting corners in templated contract certifications, to steer the industry toward compliance. The guidance seeks to clarify compliance requirements and mitigate manipulation risks as the CFTC monitors the expanding prediction market sector.
Bitcoin fell to about $63,500 on Thursday, a drop of roughly 0.5% for the day and about 2% for the week, after the July consumer price index released by the U.S. Bureau of Labor Statistics came in line with expectations.
The report showed headline inflation increasing 0.1% month‑over‑month and 3.4% year‑over‑year, while core inflation rose 0.2% month‑over‑month and eased to 2.5% annually.
Futures markets adjusted the implied chance of a September Federal Reserve rate hike to 38% from 46%.
Gold rose 1.3% and ether gained just over 1%, while S&P 500 futures edged up 0.2%.
Most major cryptocurrencies slipped, with Dogecoin down about 3% to 7 cents, XRP down 1% to $1, and BNB down 1% to $610; Hyperliquid’s HYPE rose 3% to $56 and Tron added 2% to just under 34 cents, remaining up 2% over seven days.
Equities showed stronger gains: MSCI’s Asia Pacific index rose almost 1% on advances by Samsung Electronics and SK Hynix, and Korea’s Kospi rallied nearly 4% to enter a technical bull market, up 22% in ten days. Cisco fell 4% after hours on earnings that fell short of expectations, and Cerebras Systems dropped 17% on lower hardware sales.
Brent crude, which had risen for six consecutive days to around $90 per barrel, eased after an Iranian Guard Corps adviser said the group was preparing operations on U.S. soil under a new military doctrine.
Zcash announced on June 30, 2026, that its Tachyon upgrade will aim to increase shielded transaction throughput, improve quantum resistance, and assess the resilience of its funding, security, and governance structures.
CoreWeave’s shares rose 17% in pre‑market trading on Wednesday after the company reported second‑quarter revenue of $2.58 billion, more than double the prior period, and disclosed a $104 billion backlog of contracted business.
The AI infrastructure provider said its net loss of $626 million was below analysts’ expectations. It projected third‑quarter sales of $3.45 billion to $3.6 billion and lifted its full‑year revenue guidance to $12.4 billion to $13.2 billion.
IREN and Cipher Digital each gained about 5% on the results. The firm added more than $25 billion of new customer commitments after quarter‑end, and recent contracts delivered profit margins five to ten percentage points higher than recent levels.
The results highlight a shift of capital toward AI infrastructure, while cryptocurrency markets remain weaker, with bitcoin trading below $64,000.
BlackRock’s iShares Bitcoin Premium Income ETF (BITA) released its first quarterly filing covering the period through June 30, showing $79,073 in realized gains and $265,776 in unrealized gains from written options. The fund recorded $782,203 in unrealized losses on Bitcoin and $417,644 on the iShares Bitcoin Trust (IBIT), for a combined $1,199,847 loss. Option gains of $344,849 offset about 28.7% of the $1.2 million in unrealized losses. Net assets declined by $860,335, and the net asset value per share fell 3.08% from $50 on the April 21 seed date to $48.46 on June 30. Bitcoin fell 4.43% and IBIT fell 4.75% over the same window. The fund’s total return was negative 5.61% from the June 12 start of public trading through June 30. BITA ended June with $42.6 million in net assets after share creation and contributions. A July 1 filing declared a $457,924.72 distribution, which was $113,075.72 higher than the GAAP option gains reported in the quarter. The prospectus targets written‑call notional equal to 25% to 35% of net asset value, generating premiums that partially offset losses while capping upside above the exercise price. The three‑month record is insufficient to determine how the strategy performs during a major drawdown, rapid rebound, or full market cycle.
HIVE Digital Technologies missed the August 10 deadline for its June‑30 quarter Form 10‑Q. The company reported preliminary revenue of about $79 million, up 73 % from $45.6 million a year earlier. HIVE said the delay relates exclusively to accounting and disclosures for contested Swedish value‑added tax assessments. The firm expects to file within the Rule 12b‑25 extension period after determining the amount of the potential accrual. The estimated Swedish VAT exposure is SEK 765.6 million, roughly $80 million. Because the accounting amount has not been set, investors have a revenue figure but no quantified loss amount. The pending charge could raise operating and net losses compared with the prior quarter’s $35 million GAAP profit. The financial impact will depend on how the Swedish proceedings are resolved.
Arizona’s crypto ATM law has enabled 35 scam victims to receive full refunds totaling $171,332 since it took effect on September 26, 2025. The statute, House Bill 2387, applies to operators whose customers have used the service for fewer than ten days and sets a daily transaction limit of $2,000 for new users, compared with $10,500 for existing customers. Victims must notify the operator and a law enforcement agency, such as the attorney general’s office, within 30 days and provide an official report confirming fraudulent induction. Attorney General Kris Mayes said his office is available to help victims obtain the refunds required under the law. The attorney general’s office reported the recoveries and urged residents to report fraudulent transactions promptly to meet the 30‑day deadline. The measure aims to protect new users from fraudulent crypto ATM transactions.
New York City Council announced a probe into the marketing practices of companies that offer prediction market services, citing concerns that influencers may use false or deceptive messages to target young adults. On Wednesday, Speaker Julie Menin directed letters to Kalshi, Polymarket, Coinbase and Gemini Titan as part of an inquiry into alleged deceptive marketing. The review will assess whether additional legislation, education programs or enforcement actions are warranted. Council Member Shekar Krishnan, who chairs the oversight and investigations committee, said the platforms have expanded rapidly and target minors with deceptive tactics. The investigation follows a larger dispute between state gaming authorities, which contend the services constitute illegal sports betting, and the Commodity Futures Trading Commission, which classifies the transactions as swaps under its jurisdiction. Coinbase said it provides customers access to federally regulated prediction markets overseen by the CFTC and complies with all applicable laws. Polymarket said it looks forward to engaging with the council on the matter. Gemini did not respond to requests for comment. A separate case in which a judge stayed a CFTC action against a US soldier over prediction market bets was also reported.
Dogecoin's price fell to about 7 cents, a drop of nearly 70% over the past year. Open interest in DOGE futures rose to $1.21 billion, reaching levels seen in October 2025 despite the lower price, according to CoinGlass. Traders on Binance held long positions at a ratio of more than three to one versus shorts, and on OKX the ratio exceeded five to one, indicating a predominance of bullish bets while the price continued to decline. Automatic liquidations of leveraged positions could add selling pressure if the price falls further. The sustainability of these leveraged bets as the market remains weak is uncertain.
Goldman Sachs agreed to acquire NEOS Investments, an exchange‑traded fund manager, for up to $2.25 billion, adding its Bitcoin and Ether income funds to Goldman Sachs Asset Management. NEOS manages $30 billion across 19 options‑based income ETFs, including the Bitcoin High Income ETF (BTCI), Boosted Bitcoin High Income ETF (XBCI) and Ethereum High Income ETF (NEHI). The funds use options strategies to generate monthly income while providing exposure to Bitcoin (BTC) or Ether (ETH). The transaction is expected to close in the first quarter of 2027, subject to regulatory approval, and NEOS co‑founders Troy Cates and Garrett Paolella and the firm’s broader team will join Goldman Sachs Asset Management. Goldman said the acquisition, together with its recent purchase of Innovator Capital Management, would bring its global ETF platform to about $130 billion in assets and position it as the eighth‑largest active ETF manager. Bloomberg ETF analyst Eric Balchunas described the deal as a “semi‑shock,” noting NEOS’s rapid growth since its 2022 founding and Goldman’s back‑to‑back acquisitions. The deal follows Goldman’s reduction of its own crypto ETF exposure in the first quarter, during which it exited XRP‑ and Solana‑linked funds and trimmed Bitcoin and Ether positions, though it still held more than $700 million in Bitcoin ETF holdings at quarter end. The integration of NEOS’s funds into Goldman’s platform will expand its crypto‑focused ETF offerings.
Tron Inc., a Nasdaq‑listed company, reported that more than 90% of its assets are tied to the JustLend platform on the TRON blockchain, with its treasury holding over 709 million TRX tokens. The firm’s balance sheet shows $233.8 million in TRX and staked TRX (sTRX) as of June 30, representing over 91% of its $256.2 million total assets, of which about $229.7 million is sTRX issued through JustLend.
The company acquired 148,944 TRX at an average price of $0.3357 on Aug. 12, increasing its reported holdings to more than 709.4 million TRX. It has staked nearly 100% of its treasury TRX via JustLend smart contracts to earn staking rewards and energy rentals, generating $6.33 million in unrealized staking income in the first half of 2026, including $3.35 million in the second quarter.
The staking arrangement exposes Tron to potential losses from coding errors, security vulnerabilities, or malicious exploits affecting JustLend’s smart contracts, as well as delays in redemption caused by network congestion, outages, or consensus failures. The company noted that its treasury tokens are uninsured, meaning losses from an exploit may not be recoverable.
Staking yields exceed the company’s operating revenue of $2.75 million for the six‑month period, providing an additional source of return beyond price appreciation of TRX.
Metaplanet CEO Simon Gerovich said on August 13 that the company did not sell any Bitcoin after moving 5,014 BTC, valued at about $322 million, between its own custodial addresses in the past 24 hours, leaving its treasury at 43,000 BTC.
Metaplanet, a Japanese Bitcoin treasury firm, ranks third among public companies holding Bitcoin, behind Strategy and Twenty One Capital, with a reported average acquisition cost of roughly 15.3 million yen per BTC and publishes its wallet addresses for real‑time monitoring.
The 5,014 BTC transfer cost approximately $8 in network fees and did not reduce the reported holdings, which remain unchanged; Gerovich described the movement as a routine custody operation.
Earlier blockchain tracking identified 3,881 BTC moving from addresses linked to Metaplanet, valued at about $247 million, but did not confirm a sale, and a similar transfer in March involved about 4,986 BTC worth roughly $368 million.
Bitcoin traded near $63,600 at the time, and Metaplanet’s shares rose about 0.9% to 223 yen on the Tokyo market with no sharp reaction to the clarification.
The firm’s ¥4 billion Bitcoin venture initiative launched in March and its work on Bitcoin‑backed credit products suggest alternative uses for the holdings beyond disposal.
Gerovich’s statement resolves uncertainty over whether the on‑chain movements represented a sale, and the reported balance remains 43,000 BTC as the company continues to pursue its target of 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.
Metaplanet CEO Simon Gerovich said the company has not sold any bitcoin and still holds 43,000 BTC. He said a recent transfer of 5,014 BTC, valued at about $320 million, moved between Metaplanet custodial addresses over the past 24 hours. Blockchain analytics firms flagged the movement, prompting speculation that the firm might be preparing to liquidate its holdings. Gerovich emphasized the transaction was a routine custody operation and not a sale.
Securitize (SECZ) shares dropped about 20% in after‑hours trading on Wednesday after the tokenization firm reported a loss per share that exceeded analysts’ expectations. The company recorded revenue of $14.4 million, missing the $20.6 million average estimate, and posted a loss of $2.37 per share versus the $0.15 anticipated. Transaction volume increased 147% to $5.3 billion, and average tokenized assets under management rose to a record $4.3 billion, up 16% year‑over‑year. Net loss totaled $21.7 million, and adjusted EBITDA fell to a $5.5 million loss from a $1.8 million gain a year earlier. Securitize’s fund‑services arm oversees 663 active funds and $24.3 billion in assets under administration. Its clients include BlackRock and KKR, and the BUIDL tokenized money‑market fund, launched with BlackRock in 2024, ranks among the largest of its kind. The firm is also collaborating with the New York Stock Exchange on tokenized securities infrastructure and with transfer agent Computershare to enable tokenized shares for U.S. issuers. The earnings miss underscores the current disconnect between rising transaction activity and revenue growth as the industry advances blockchain‑based financial products.
U.S. CPI rose 0.1% month-over-month and 3.4% year-over-year in July, matching forecasts, while bitcoin held near $64,000. The CPI report followed a decline of 23,000 jobs in July, a weaker-than-expected employment reading. Core CPI increased 0.2% month-over-month and 2.5% annually, also in line with expectations. Treasury yields fell, with the two-year at 4.19% and the 10-year at 4.66%. Bitcoin slipped briefly to around $64,000 before stabilizing, remaining essentially flat over 24 hours. Nasdaq 100 futures rose 0.7%. Analysts said the absence of an inflation surprise removes an immediate risk to risk assets, but the report may not be soft enough to trigger a major dovish shift by the Federal Reserve. The CME FedWatch Tool indicated a 44% chance of a September rate hike, down from 48% before the report. Investors will monitor the Federal Reserve’s next meeting for further guidance on monetary policy.
Bitwise Chief Investment Officer Matt Hougan said crypto valuations could at least double as more protocols use revenue to fund token buybacks and burns, a shift that may leave many assets undervalued.
Hougan noted that networks such as Hyperliquid, Uniswap, Aave, Pump.fun and Lighter have linked protocol fees to native token purchases or removals, and he expects decentralized finance and layer‑1 platforms to adopt similar revenue‑capture mechanisms within the next 12 to 24 months.
Hyperliquid reported $800 million in annual revenue and used about 99 percent of it to buy and burn its HYPE token; in the second quarter it generated $169 million and allocated $141 million to HYPE buybacks. Uniswap introduced protocol fees that can be used to burn UNI tokens after its “UNIfication” upgrade, approved on Dec. 22 2025. Aave’s DAO purchased more than 205,000 AAVE tokens in its first ten months, and founder Stani Kulechov said the protocol’s revenue is directed entirely to the AAVE token, with an automated buyback mechanism under development.
Hougan attributed the trend to a more permissive regulatory environment in the United States, which may allow revenue‑sharing features to expand even without the proposed CLARITY Act.
The development could give investors valuation metrics similar to those used for traditional companies, though token holders retain community‑set tokenomics rather than shareholder rights. The timeline for broader adoption remains uncertain.
Cypherpunk Technologies reported a $39.4 million net profit for the second quarter, reversing a $16.6 million loss from the prior year, after a $46 million unrealized gain on its Zcash holdings offset a $4.7 million operating loss. The company records its Zcash treasury at market value each reporting date, using a price of $400.09 as of June 30 to value the 323,394.38 ZEC tokens at $129.4 million on its balance sheet. It held the tokens at an average purchase price of $341.83, implying an aggregate acquisition cost of roughly $110.5 million. Research and development expense was $0.2 million and general and administrative expense $4.5 million for the quarter, leaving the operating result negative before the revaluation. Cash and cash equivalents totaled $7.6 million as of June 30. Leap Therapeutics, the biotech subsidiary, initiated a process to secure additional financing or a partnership to advance sirexatamab into Phase 3 development, with no set timetable and no assurance that resources will be secured. The profit reflects the impact of cryptocurrency price movements on earnings, while the biotechnology program’s next steps remain uncertain.
An ASX shareholder, Rosherville Pty Ltd, has notified the exchange that it will apply for leave to commence a statutory derivative action in the Federal Court against former ASX officers and directors. The action concerns alleged breaches of duty related to the company’s failed blockchain‑based clearing and settlement system. The exchange said ASX itself was not named in the allegations, and it did not disclose the specific breaches or the remedies sought, while the court has not yet decided whether the case may proceed. The CHESS overhaul began in 2016 after ASX selected Digital Asset’s distributed‑ledger technology, with a planned launch in April 2023. The project was postponed multiple times, paused in November 2022 following an Accenture review that identified design shortcomings, and formally abandoned in May 2023. In August 2024, the Australian Securities and Investments Commission sued ASX, alleging that the board misrepresented the project’s progress to the market, and in June 2026 ASX admitted to misleading conduct linked to the effort. The Federal Court ordered ASX to pay a $14.4 million penalty and $2.1 million in costs in July 2026, after which Rosherville notified the exchange of its proposed action. The lawsuit, if permitted, would test whether shareholders can hold former executives accountable for overseeing one of Australia’s largest financial‑technology failures. The matter remains pending, with no schedule set for a ruling.
21Shares XRP ETF saw its net assets decline by more than half in the first half of 2026, ending June with $112.9 million in assets, a 54.4% drop from $247.7 million at the end of December, according to its August 11 quarterly filing. The decline coincided with a 42.9% drop in the price of XRP to $1.0431 and a 20% reduction in outstanding shares to 11.11 million from 13.89 million, illustrating how investor withdrawals amplified losses from the price decline. The fund recorded $75 million in redemption distributions and $25.5 million in creation contributions during the period, resulting in $49.5 million of negative net capital transactions. It realized $13.36 million in losses on XRP disposed for redemptions, while $71.52 million of unrealized depreciation remained on holdings still owned. In the first quarter, $11.68 million of the $13.36 million realized loss stemmed from redemptions of 4.03 million shares, while the second quarter saw net issuance of 260,000 shares after 480,000 creations and 220,000 redemptions, though assets fell 20.56% and XRP declined 22.37% during that quarter. Cumulative net flows since launch are approximately -$20 million, making the fund the only U.S. spot XRP ETF with negative cumulative flows, and its inflows have been limited to less than five days of trading worth about $6 million. The fund’s asset base remained below $112.9 million after the second quarter, even after the brief improvement in creation activity, and XRP’s price would need to rise above $1.34 to indicate renewed buyer control.
Fold, a Nasdaq‑listed cryptocurrency financial services firm, announced that it sold 832 Bitcoin to clear debt and is pursuing a 1‑for‑50 reverse stock split to maintain its share price above Nasdaq’s $1 minimum.
The company’s August 11 quarterly filing showed that, as of June 30, its investment treasury held 194 Bitcoin valued at $11.4 million after the sales, while a separate rewards treasury contained 77 Bitcoin worth $4.5 million that was matched to a Bitcoin‑denominated customer liability. The combined holdings totaled 271 Bitcoin, though the two buckets were not economically interchangeable.
Fold reported a $15.6 million operating loss for the first six months of 2026 and had $28.4 million in cash and cash equivalents at June 30. It also raised $7.5 million by selling about 5.82 million shares under an equity facility. The firm has not specified how it will fund future operating costs without additional equity issuances or further use of its Bitcoin reserve.
Nasdaq notified Fold on July 14 that its shares had closed below the $1 threshold for 30 consecutive business days, initiating a cure period that ends on January 11, 2027. To regain compliance, the stock must close at or above $1 for at least 10 consecutive business days, or longer if Nasdaq requires. The company is seeking shareholder approval for a reverse split ranging from 1‑for‑2 to 1‑for‑50; no ratio has been selected.
If implemented, the reverse split would increase the nominal share price without raising cash or issuing new shares, but it would not address the company’s cash flow needs. A failure to maintain the listing could constitute an event of default on a $13 million note, though the current notice does not itself trigger that provision.