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The Crypto Desk

Crypto

Bitcoin, Ethereum, regulation, and the forces moving digital assets.

31 stories · Edition of 2026-08-22 · Curated by AI at Invalid Date

CRYPTO

63% Of U.S. Adults Say Trump’s Crypto Profits Cross a Line

62d ago · Source: cryptonews

A Reuters/Ipsos poll of 1,166 U.S. adults conducted Aug. 14 to Aug. 17 found that 63% of respondents said it was inappropriate for former President Donald Trump and his family to profit from cryptocurrency since his return to office, while 69% said his private business interests influence his presidential decisions. Roughly half of Republican respondents said they believe his business interests sway his decisions.

The survey was released two days before the Senate reconvened in September, ahead of a vote on the CLARITY Act, a legislative effort to establish a regulatory framework for digital assets. Senator Kirsten Gillibrand has proposed an ethics clause that would prohibit elected officials and their spouses from issuing or promoting digital tokens, a provision that could require Trump to divest from his crypto holdings.

Financial disclosures filed earlier in 2026 indicated that Trump earned more than $1.4 billion from crypto ventures, primarily from World Liberty Financial and a meme coin bearing his name, making crypto the single largest source of presidential income ever disclosed. The CLARITY Act’s ethics provision would apply retroactively, potentially affecting existing tokens. Senate negotiators have considered a compromise offered by Senator Thom Tillis that would allow state authorities to enforce the restriction, but the White House has not responded to the proposal. Prediction markets currently assign a 25% probability that the bill will pass the Senate, with the ethics clause identified as the primary obstacle to reaching the 60‑vote threshold needed for passage.

The poll provides Democrats with data‑backed support for retaining the ethics clause and gives Republican senators public evidence that their base shares the concern, complicating efforts to pass the legislation before the September 15 procedural vote.

CRYPTO

Maya Protocol Exploit Leaves $11 Million Pool Impact Unresolved

62d ago · Source: cryptoslate

Maya Protocol suffered a liquidity shortfall after an exploit on Aug. 18 that left about 20.83 BTC unspent in a wallet linked to the attack, while its pools sustained an estimated $11 million in damage, with the full impact still unresolved.

Context: The exploit involved six accounting and state‑handling flaws in a single transaction that produced a false missing‑transfer signal, inflating a CACAO pool balance and triggering a compensation path that allowed the attacker to withdraw roughly 48.87 million CACAO before swapping the tokens.

Details: On Aug. 18 at 17:32:18 UTC, ten deposits totaling 20.82730682 BTC were sent to the address, followed by a 546‑satoshi transaction; the wallet showed no outgoing spend through Aug. 21, with a current balance valued at about $1.59 million.

The founder, identified as Aaluxx, initially estimated a loss of roughly 20 BTC (approximately $1.4 million at the time) and said he would work to fix the incident and recover the funds.

According to a technical analysis by SigIntZero, six accounting and state‑handling flaws in a single 23‑message transaction caused the exploit, leading to an inflated balance in a thin ARB.LINK pool that held only about 168,000 CACAO.

The compensation mechanism credited about 49.45 million CACAO to the pool, after which the attacker received roughly 99.93 % of the pool’s ownership units and withdrew about 48.87 million CACAO, later converting them into assets held by other MAYAChain pools.

CryptoSlate analysis attributed roughly $6.4 million to CACAO price declines and $2.9 million to arbitrage after the token fell from $0.115 to $0.013, representing an 88.7 % drop.

The attacker’s total controlled value was estimated between $1.65 million and $1.7 million, while the pool impact was linked to $10.9 million in liquidity losses.

Maya Protocol has sought a bug‑bounty return and considered replacing the missing BTC through Aztec Chain investments, but has not disclosed which remaining losses will be restored or who will absorb the shortfall.

The situation remains unresolved, with the protocol awaiting community input on recovery options.

CRYPTO

CFTC Bans Former Alameda CEO and FTX Co‑Founder for Five Years; US Opposes Dismissal in Polymarket Case; Georgia Court Unseals $165 Million Crypto Ponzi Indictment

62d ago · Source: cointelegraph

The U.S. District Court for the Southern District of New York entered consent orders on Tuesday that impose a five‑year trading ban on former Alameda Research CEO Caroline Ellison and a five‑year trading ban on FTX co‑founder Zixiao “Gary” Wang. The orders also impose a ten‑year registration ban on Ellison and an eight‑year registration ban on Wang.

The Commodity Futures Trading Commission (CFTC) said the bans reflect the material assistance both individuals provided in the agency’s FTX‑related investigations. Ellison was previously sentenced to two years in prison, and Wang received time served in a separate criminal case involving the misuse of customer funds.

On Wednesday, the U.S. Attorney’s Office in the Southern District of New York filed an opposition to a motion to dismiss submitted by Gannon Ken Van Dyke, a former service member who alleged he earned more than $400,000 on Polymarket using nonpublic information tied to a military operation that removed Venezuelan President Nicolás Maduro. The filing argued that Van Dyke’s arguments about the Commodity Exchange Act were speculative and based on improper inferences.

Judge Anna J. Howard of the Northern District of Georgia ordered the unsealing of an indictment on Monday that charges Edward Zimbardi with twelve counts of wire fraud, one count of money‑laundering conspiracy and eleven counts of transactional money‑laundering. Prosecutors allege that Zimbardi tricked thousands of investors into a “Crypto Program” with promises of high returns. The indictment, unsealed by Magistrate Judge Howard, lists assets seized by Dutch authorities, including 11.87 Bitcoin, 2.15 Ether, 713,344,695 Shiba Inu, 47,110 USDT, 12,095 USDT0, 3.3 million XRP, 1,095 Dogecoin, 10.2 million Osaka Protocol, and 11.97 Polygon, valued at approximately $6 million.

The cases illustrate continued legal scrutiny of crypto industry participants by U.S. regulators and courts.

CRYPTO

XRP Gains 14% to $1.40 Amid Bitcoin Short Squeeze

62d ago · Source: cryptonews

XRP rose 14.2% in 24 hours to $1.40 on August 21, 2026, marking the largest daily gain among the top 10 cryptocurrencies by market cap. The price closed above both its 50‑day and 200‑day exponential moving averages, the first time since the death cross formed earlier in August, though the 50‑day EMA remains below the 200‑day EMA, so the death cross technically persists.

More than $3 billion in short positions were liquidated across the broader crypto market in five days, contributing to XRP’s rally. Spot volume was concentrated on Binance and Upbit, with South Korean won‑denominated pairs accounting for a significant share of turnover. On‑chain metrics showed declining exchange deposits and growing accumulation by wallets holding more than one million XRP, while the Relative Strength Index reached approximately 72, indicating overbought conditions. The MACD line crossed above its signal line, suggesting short‑term upward momentum, and XRP funding rates on perpetual futures turned sharply positive. Options skew shifted positive for the first time in weeks, reflecting higher implied upside risk, though the signal is lagging.

The CLARITY Act procedural vote is scheduled for September 15, 2026. If the legislation advances, Ripple’s regulatory uncertainty could diminish, potentially supporting XRP’s price, but market predictions currently assign a 75% probability that the bill will stall.

A daily close below the 200‑day EMA within five days, a sustained decline in Bitcoin below $72,000, or a sharp reduction in spot volume on Binance and Upbit without increased U.S. exchange volume would all signal that the bullish breakout may be temporary.

The technical breakout remains unconfirmed; sustained demand or a favorable regulatory development would be required for the death cross reversal to become a genuine golden cross.

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Understanding MACD: How the Momentum Indicator Works in Crypto Trading

62d ago · Source: cryptonews

The guide published on August 21, 2026 by cryptonews.com explains how the moving average convergence divergence (MACD) indicator functions in crypto markets.

MACD measures the difference between a 12‑period exponential moving average and a 26‑period exponential moving average. The MACD line is the result of that subtraction. A 9‑period exponential moving average of the MACD line forms the signal line. The histogram equals the difference between the MACD line and the signal line.

When the MACD line crosses above the signal line, a bullish crossover occurs, indicating that short‑term momentum is accelerating relative to the longer‑term trend. When it crosses below, a bearish crossover indicates building downward momentum. Crossovers follow price movement and therefore lag, which can reduce their reliability, especially in volatile or choppy markets.

Divergence occurs when price makes a lower low while the MACD line makes a higher low, or when price makes a higher high while the MACD line makes a lower high. Regular bullish divergence suggests weakening downward pressure, while regular bearish divergence suggests weakening upward pressure. Hidden divergence indicates that a trend may continue rather than reverse.

Gerald Appel developed MACD in the late 1970s. The default MACD settings of 12, 26, and 9 were created for equity markets. Crypto traders often adjust these values, for example to 8, 21, and 5, to match the faster cycle of 24/7 markets. Adjustments are not universally superior but can reduce lag on shorter timeframes.

MACD does not measure overbought or oversold conditions, volume, or trend strength on its own. It is most effective when combined with other indicators such as RSI or volume. A bullish MACD crossover that coincides with an RSI recovery from below 30 or with a volume spike carries greater weight than a crossover occurring in low‑volume, range‑bound conditions.

Zero‑line crossovers occur when the MACD line moves above or below the zero line, indicating that the 12‑period EMA has crossed the 26‑period EMA. These signals confirm a trend change rather than predict one and are typically used as a trend filter.

Traders often examine the histogram to gauge momentum acceleration. Expanding histogram bars show increasing momentum, while shrinking bars show decreasing momentum. A histogram flip from positive to negative mirrors a MACD crossover and can provide an earlier visual cue.

Practical use includes watching for histogram shrinkage after a strong move, looking for bullish divergence near major support on the daily chart and confirming with a crossover on a shorter timeframe, and requiring agreement across multiple timeframes before entering a trade.

Common mistakes include trading every crossover, ignoring the prevailing trend, using default settings on all timeframes, and treating MACD as a standalone system. The indicator alone does not reveal support and resistance levels, volume, or market structure.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency trading involves substantial risk.

CRYPTO

Illuvium Says Six Months of Cost Cuts Extend Runway and Focus on MMO

62d ago · Source: cryptoslate

Kieran Warwick, co‑founder and CEO of Illuvium, said on August 21 that six months of cost reductions and a wage cut extended the studio’s operating runway by more than a year. The remaining staff are largely dedicated to an upcoming MMO, and most employees have worked at Illuvium for over three years. The company has not disclosed its current cash balance or monthly burn rate.

Illuvium’s previous burn figure, published in December 2024, was about $900,000 after administrators stopped taking salaries and cut wages by $85,000. The firm had said it expected to raise additional capital around March 2025, but Warwick did not indicate whether that financing affected the latest runway estimate. A social media claim that Illuvium had raised $132 million was not confirmed.

Capital Brief reported cumulative funding of about $60 million in 2024, while an Immutable release noted $72 million in gross NFT land sales in 2022. Combining land‑sale proceeds with reported funding conflates distinct revenue streams. Recent governance disclosures do not provide a current financial breakdown. Council minutes from July placed discussions of costs, staff restructuring, treasury and revenue distribution under nondisclosure agreements.

Council minutes from February said the studio had reduced the MMO’s scope and was targeting a December 2026 launch. The plan calls for reusing existing assets, procedural dungeons and boss encounters, with player‑versus‑pvp features and combat polish scheduled after launch. Illuvium aims to release several smaller products in 2026, including a final Celebrations collection for Beyond Set 1, Beyond Chaos, Primal Tactica and Loadout. An external studio developing Primal Tactica under an Illuvium IP license will present the game at Steam Next Fest in October, with most revenue going to Illuvium. Steam lists Primal Tactica for early access in the fourth quarter. Loadout will distribute tokens to the Illuvium staking contract to encourage ILV and ILV‑ETH staking, though a launch date has not been announced.

ILV’s price fell 67.55% over the year through August 21, according to CryptoSlate data.

CRYPTO

Ethena Gains 48% After $1 Billion Facility Announcement; HYPE Nears Record on Regulatory Comment

62d ago · Source: coindesk

Ethena (ENA) rose 48.3% in the last 24 hours and 77.2% over the past week after announcing a $1 billion secured warehouse facility with FalconX. The token’s price reached $0.1475 and its 24‑hour trading volume climbed to $1.04 billion, a 319% increase from the previous day and representing roughly three‑quarters of its market capitalization. Bitcoin’s dominance remained at 59.8%, while CoinMarketCap’s altcoin season index fell to 33, down from 51 the prior week, indicating limited overall altcoin participation. Other altcoins posted gains, with Curve (CRV) up 20.6%, Fetch.ai (FET) up 20.7%, Pudgy Penguins (PENGU) up 19.1%, Pump.fun (PUMP) up 18.7%, and Pepe (PEPE) up 18.6%. Bitcoin Cash (BCH) added 26.7% but its trading volume fell 10% over the same period. Hyperliquid’s token (HYPE) approached a record high of $77.87 after President Trump said the CFTC was working to bring the exchange onto U.S. soil in a compliant manner; the token had risen from about $52 in early August. Analyst Michaël van de Poppe, founder of MN Fund, said notable Bitcoin moves could redirect liquidity toward altcoins that have seen limited price action. The rally was driven by specific catalysts rather than broad market rotation. The altcoin season index remains low, leaving the sustainability of the momentum unclear.

CRYPTO

Ethereum Researchers Aim to Close zkEVM Security Gap Before December

62d ago · Source: cryptoslate

Ethereum researchers aim to close a zkEVM security gap measured by the better.codes contest before the December deadline set in the Ethereum Foundation's roadmap.

The contest quantifies a cryptographic proof gap for the koalaIRS12 parameter, a fixed profile used in succinct proof system research.

At 15:44 UTC on August 21, the live leaderboard showed a lower certificate of 63.99 bits and an upper certificate of 116.13 bits, leaving an unresolved interval of 52.14 bits after nine submissions from seven participants.

Researchers can raise the lower certificate through soundness submissions or lower the upper certificate through attack submissions, each changing the boundaries of the interval.

The Ethereum Foundation targets 128-bit provable security for zkEVM implementations by December 2025, with a final proof size limit of 300 KiB and a formal soundness argument for recursion architecture.

Current progress indicates the 52.14-bit gap remains unfilled, meaning the lower certificate has not reached the 128-bit target and the upper certificate has not been reduced accordingly.

The interval provides a live measure of unfinished work on koalaIRS12 and will affect how component evidence integrates into the larger zkEVM security assessment before the December deadline.

CRYPTO

Ray Dalio Suggests Small Bitcoin Allocation as Debt Crisis Concerns Rise

62d ago · Source: cointelegraph

Ray Dalio, the founder of Bridgewater Associates, posted on LinkedIn on Friday urging investors to hold a small amount of Bitcoin alongside gold as a hedge against a possible US debt crisis. He said a 10% to 15% allocation to gold could lower portfolio risk and recommended overweighting gold and Bitcoin relative to debt assets such as bonds, citing internal political and external geopolitical conflicts. Dalio estimated that a US debt crisis could occur within three years if current trends continue, though he noted the timing was uncertain. The hedge fund manager, whose net worth is estimated at more than $15 billion, has previously argued that Bitcoin does not replace gold as a store of value and has warned about privacy concerns and risks from quantum computing. In July 2025 he said he held a modest amount of Bitcoin and suggested an allocation of up to 15% in gold and Bitcoin combined. Earlier, in 2022 he said a 1% to 2% Bitcoin holding was reasonable before a major crypto market decline. His comments echo broader market concerns about rising debt levels and potential monetary policy shifts. The article notes that investors should verify information independently, reflecting Cointelegraph’s commitment to transparent journalism.

CRYPTO

Coldcard Firmware Update Requires User‑Supplied Entropy and Seed Generation

62d ago · Source: cointelegraph

Coinkite released firmware version 5.6.1 for Coldcard Mk4 and Mk5 devices and version 1.5.1Q for Coldcard Q, requiring user‑supplied entropy for new seed generation to improve security. The update, announced in a Thursday blog post, follows a three‑week security review and adds safeguards for USB data handling, transaction signing and hardware randomness, including re‑verification of transactions before signing and additional randomness checks at boot. It mandates that newly generated seed phrases incorporate at least 65 keypresses with unpredictable timing, 50 dice rolls, or 128 coin flips, combined with the device’s built‑in randomness sources, to reduce vulnerability if a single entropy source fails. Coinkite urged users to upgrade immediately and to create new seed phrases, noting that existing seeds remain vulnerable even after the update. Reported losses from the earlier Coldcard exploit totaled 1,778 BTC, valued at about $112 million, according to a Galaxy Research report published Aug. 14, marking the third‑largest crypto exploit of 2026 per DefiLlama data. The prior July 31 update had already fixed seed‑generation failures for new wallets. Additional changes block certain Bitcoin signature hash modes that allow transaction outputs to be altered, restrict USB downloads to the latest device output, and require encrypted sessions. The update aims to improve the resilience of Coldcard wallets against potential seed‑generation weaknesses, but users must replace compromised seeds before moving funds.

CRYPTO

CME Chairman and Kalshi Co-Founder Trade Personal Remarks at CFTC Roundtable on Prediction Markets

CME Group Chairman Terry Duffy and Kalshi co‑founder Luana Lopes Lara exchanged personal remarks during a CFTC roundtable in Washington, D.C., on Aug.

62d ago · Source: cryptonews · 1 min read

CME Group Chairman Terry Duffy and Kalshi co‑founder Luana Lopes Lara exchanged personal remarks during a CFTC roundtable in Washington, D.C., on Aug. 21, 2026. Duffy called prediction market operators “carnival barkers” and said the firm has “more people in my regulatory department than you have in your whole company,” while Lara replied that CME should “learn a bit about efficiency.” The heated exchange highlighted a broader dispute over whether prediction market contracts are federally regulated derivatives or state‑level gambling products. The CFTC asserts jurisdiction over event contracts as derivatives, while several states argue the contracts fall under state gambling laws. New York has filed a lawsuit seeking at least $36 billion in damages, alleging an unlicensed gambling operation, and a Washington state judge ordered Kalshi to cease offering contracts on sports, elections and other events. The CFTC used emergency powers to keep Kalshi trading while the legal challenges proceed. A consumer survey released Aug. 12 found that 79 % of prediction market users lost money in the past year, and 51 % used borrowed funds, raising consumer protection concerns. CME Group, the world’s largest futures exchange by volume, views prediction markets as a competitive threat that operates with lighter regulatory oversight and lower costs, potentially diverting retail trading away from its institutional platform. The dispute reflects differing views on the proper regulatory framework for event‑driven contracts and will likely be decided by the courts rather than legislation.

CRYPTO

Coinkite Releases Firmware Update After $114 Million Bitcoin Theft

62d ago · Source: coindesk

Coinkite, the Canadian company behind the Coldcard hardware wallet, has released new firmware following the discovery of a randomness flaw that enabled the theft of more than $114 million in bitcoin. The vulnerability existed in firmware versions used between 2021 and July 2026, affecting Coldcard Mk4, Mk5 and Q devices.

The audit, assisted by AI tools such as Kimi and other frontier models, identified additional issues in transaction approval, USB data handling and firmware validation. The updated firmware (version 5.6.1 for Mk4 and Mk5, 1.5.1Q for the Q model) requires users to generate new seeds using physical randomness, such as dice rolls, coin flips or key presses, and replaces the underlying random number generator with a SHA‑256 based algorithm. New checks verify transaction approval immediately before signing, preventing alteration after the user confirms on the device screen. Installation must be performed from the official downloads page; compromised wallets still require seed regeneration and fund migration. Law enforcement continues to investigate the theft, and Coinkite said it is cooperating with authorities.

The release is part of a broader trend in which AI is being used to improve security reviews across the bitcoin ecosystem, with projects like BTCPay Server offering bounties, an open letter from major crypto firms urging AI labs to grant researchers early model access, and the Bitcoin Red Team publishing thousands of vulnerability findings. Bybit reported that AI‑assisted audits identified high‑severity flaws at three to five times the rate of manual reviews and helped block $700 million in suspicious withdrawals during the first half of 2025.

The incident underscores ongoing challenges in hardware wallet security and the growing role of AI in detecting and remedying cryptographic flaws.

CRYPTO

U.S. Spot Bitcoin ETFs Attract $1.61 Billion in Four-Day Inflow Amid Rising 30-Year Treasury Yields

62d ago · Source: cryptoslate

Four consecutive days of U.S. spot Bitcoin ETF inflows totaled $1.61 billion from August 17 through August 20, according to Farside Investors, as Treasury yields approached a 3% real yield for the first time in nearly three decades. Bitcoin traded near $77,821 on August 21, up 7.2% in the prior 24 hours.

The ETF complex revived a regulated demand channel just as the U.S. Treasury reopened its February 2056 TIPS issue, which cleared at a real yield of 2.973%, about 50 basis points higher than the original February issue. The reopening left roughly 29.5 years to maturity and offered an inflation‑adjusted return close to 3% per year.

Daily net inflows were $297.5 million on August 17, $189.3 million on August 18, $517.2 million on August 19 and $606.3 million on August 20, with BlackRock’s IBIT accounting for $503 million of the final day’s total. The four‑day sequence provides a more informative view than a single‑session spike, though end‑of‑day fund reports do not reveal the timing, venue or price of individual Bitcoin purchases. Treasury auction activity included $183 billion of two‑, five‑ and seven‑year notes sold from August 25 to August 27, with bid‑to‑cover ratios improving to 2.82 and indirect bidders receiving 84.4% of competitive awards.

If inflows persist through the August 25‑27 auctions while the long‑term real yield remains near 2.97%, the regulated demand channel may absorb the new Treasury supply. Conversely, a decline in inflows or a reversal in Bitcoin’s price amid elevated yields would expose the rally to competition from government debt, indicating the durability of the ETF demand trend.

CRYPTO

Laser Digital Becomes First New Crypto Exchange Registered in Japan in Four Years

62d ago · Source: coindesk

Laser Digital, a crypto firm backed by Japan's Nomura, became the first new crypto asset exchange service provider registered in Japan in four years, marking its entry into the country's digital‑asset market.

The firm will initially provide liquidity services to domestic virtual‑asset service providers, a role it announced on Friday. It plans to later develop trading services for institutional investors, though a launch date and details of those services have not been disclosed. The expansion plans were announced late last year.

Japan reclassified cryptocurrencies as financial instruments a month ago, establishing a legal framework that could permit crypto exchange‑traded funds and separate taxation beginning in 2027, as institutional demand for digital assets grows.

A 2026 survey by Nomura and Laser Digital found that 79% of respondents intended to invest in crypto assets within the next three years. Jez Mohideen, co‑founder and CEO of Laser Digital, said the digital‑assets market is entering a new phase of maturity and that rising institutional interest highlights the need for trusted counterparties and infrastructure tailored to institutional requirements. Steve Ashley, co‑founder and executive chairman, noted that the timing reflects a broader global shift as sophisticated investors seek quality infrastructure.

The approval represents a milestone for Japan's regulatory framework as it integrates digital assets under financial‑instruments rules.

CRYPTO

Zcash Price Rises Above $800 for First Time since 2018

62d ago · Source: coindesk

Zcash rose more than 38% to above $814 on Saturday, surpassing its January 2018 high and reaching a market value of $13.87 billion. The price increase was noted by market analysts and attributed to heightened futures trading volume and Grayscale’s filing to convert its Zcash Trust into a spot exchange‑traded fund on the NYSE Arca under the ticker ZCSH. Zcash is a privacy‑focused cryptocurrency built on Bitcoin’s code, featuring a 21 million coin supply cap, proof‑of‑work mining and halving schedule, and shielded transactions via the Orchard protocol. It is ranked 12th by market capitalization among privacy coins. The intraday swing ranged from $589 to $851, a 45% move, while futures trading volume reached roughly $4.55 billion on Friday compared with spot trading of $553 million, and 24‑hour volume totaled $2.24 billion, about 16% of Zcash’s market value. Grayscale filed a fourth amendment on August 18 to convert its Zcash Trust into a spot ETF; the proposal is pending SEC review. Digital Currency Group’s subsidiary DCG International Investments is in non‑binding talks to acquire about 200,000 ZEC, valued at roughly $163 million at the Saturday price. Earlier in June, Zcash declined after a vulnerability was identified in its Orchard shielded pool, highlighting the token’s volatility. The rally reflects leveraged buying that can amplify gains and reversals, and the outcome of the ETF filing and potential acquisition remain unresolved, leaving the token’s price trajectory uncertain.

CRYPTO

Relative Strength Index Explained: How Overbought and Oversold Readings Function in Crypto Trading

62d ago · Source: cryptonews

The guide explains the relative strength index (RSI), a momentum oscillator used in cryptocurrency trading that measures price changes on a 0‑100 scale, with readings above 70 labeled overbought and below 30 oversold. The RSI calculation uses a 14‑period lookback, averaging gains and losses to compute a relative strength value, then applying the formula RSI = 100 – (100 / (1 + RS)). The indicator is smoothed with an exponential moving average after the initial calculation. Traders often treat the 70 and 30 thresholds as sell or buy signals, but the indicator does not measure price fairness; it reflects the magnitude and direction of recent price movements, which can remain extreme in strong trends. In sustained uptrends, RSI can stay above 70 for extended periods, while in downtrends it can stay below 30, making the standard thresholds less reliable without additional context such as trend direction, volume, or other indicators. Divergence between price and RSI—when price makes a new high or low but RSI does not—can indicate weakening momentum, though false signals are common, especially in volatile crypto markets; traders are advised to confirm divergence with other signals. Crypto markets differ from equities because of 24/7 trading, higher volatility, and thinner liquidity, which cause RSI to reach extreme levels more frequently and stay there longer. Timeframe affects RSI reliability; weekly readings reflect long‑term momentum, daily readings are common for swing trading, and shorter intervals generate more frequent but noisier signals. Common mistakes include using RSI alone, ignoring the prevailing trend, acting on divergence without confirmation, and excessively tweaking the lookback period, all of which can reduce effectiveness. Practitioners are encouraged to combine RSI with moving averages, volume analysis, MACD, support and resistance levels, and other tools to build a more robust trading framework. The article concludes that RSI serves as a risk assessment tool rather than a predictive indicator, and that its usefulness depends on appropriate context and complementary analysis.

CRYPTO

Bitcoin Rises About 25% Near $78,500 After Treasury Expands Buyback Program

62d ago · Source: coindesk

Bitcoin rose about 25% this week, reaching near $78,500, after the U.S. Treasury announced it would double its buyback operations on long‑dated Treasury bonds. The Treasury said each buyback would increase to $4 billion, up from $2 billion, which pushed the 30‑year Treasury yield down from 5.34% to roughly 5.19%. The yield decline coincided with about $4 billion in bearish crypto positions being liquidated and roughly $650 million in net inflows to spot Bitcoin exchange‑traded funds. Traders noted that the lower Treasury yields reduced the appeal of interest‑paying government debt relative to Bitcoin, which pays no yield. Jeff Ko, chief analyst at CoinEx, described the program as a modest liquidity tool rather than quantitative easing, calling it a soft policy signal on the long end of the yield curve. Shawn Young, chief analyst at MEXC Research, said the rally reflected an already extreme short‑position imbalance rather than a fundamental shift. Hong Yea, co‑founder of Grvt, explained that falling yields lower the hurdle rate for risk assets, making Bitcoin more attractive when risk‑free returns decline. Himanshu Sahay, CTO of Arch Lending, cautioned that the rally may be driven by incremental demand rather than strong conviction and that rising yields could later affect inflation expectations and broader risk appetite. President Donald Trump reiterated support for U.S. leadership in digital assets and urged Congress to advance the CLARITY Act during a crypto‑focused gathering. Ko said the next test is whether Bitcoin can hold above its 200‑day moving average near $69,000, which would signal a shift from resistance to support.

CRYPTO

Bitcoin Reaches $79,400, Posting Strongest Weekly Gain Since March 2023

62d ago · Source: coindesk

Bitcoin reached $79,400 on Friday, posting a 24% weekly increase, the strongest gain since March 2023, and settled just below $78,000 after the rally.

The Treasury’s bond buyback announcement on Wednesday helped extend the price gains from earlier in the week.

Liquidations totaled $1.24 billion in the last 24 hours, a 62% decline from the $3.3 billion peak on Wednesday, according to CoinGlass.

Short positions accounted for $1.06 billion of the total, while long positions were $178 million.

The aggregate long‑short ratio stood at 0.865, indicating more accounts were positioned short than long.

Open interest across the cryptocurrency market rose 6.17% to $139.37 billion, with Bitcoin futures open interest increasing 7.38% to $57.7 billion and total Bitcoin open interest reaching $25.06 billion, the highest level since June.

CryptoQuant reported that apparent spot demand rose from a deficit of 206,000 BTC on July 23 to near zero, a level that historically precedes a median 18% gain over the following 60 days, according to the firm.

Altcoin performance varied: Ethereum Classic (ENA) rose 13% to $0.1320, Zcash (ZEC) gained 12.5% to $640, Near (NEAR) added 8.6% to $1.92, Fetch.ai (FET) rose 5.6% to $0.1647, and Chainlink (LINK) climbed 8.2% to $11.56, with weekly gains ranging from 31.5% for ZEC to 32% for LINK.

XRP posted the largest percentage gain among large‑cap coins, up 19% with a 139% increase in 24‑hour trading volume and a 15.5% rise in open interest.

The Dollar Index was 98.77, slightly lower than its August high, while Nasdaq 100 futures rose 0.43% after underperforming relative to the broader crypto market.

Technical indicators such as the relative strength index showed overbought conditions, suggesting a possible short‑term pullback, while the sustainability of the move will depend on whether the emerging spot demand persists after the recent wave of liquidations.

CRYPTO

Tron Founder Accuses World Liberty USD1 Stablecoin of Hidden Admin Controls

62d ago · Source: cryptoslate

Tron founder Justin Sun accused World Liberty Financial of allowing privileged operators to move frozen USD1 balances without holder consent, saying the contract running on‑chain differs from the code published on its GitHub page.

World Liberty’s USD1 stablecoin, issued by BitGo, has seen its circulating supply fall from a February high of more than $5.3 billion to about $4 billion, according to DeFiLlama data. The Office of the Comptroller of the Currency granted preliminary conditional approval to World Liberty Trust, a proposed national trust bank that would take over issuance and reserve management from BitGo, pending pre‑opening requirements.

Sun said the live USD1 implementation uses an upgradeable proxy that includes drain and reallocate functions capable of transferring frozen balances to the contract owner or another address without the account holder’s approval. These powers are limited to addresses that have been frozen and require privileged permissions. The public GitHub repository, however, lists only mint, burn, freeze and pause functions and does not contain the drain, reallocate or version‑two initializer functions present in the deployed contract, creating a discrepancy that Sun likened to tactics used in rug pulls.

World Liberty CEO Zach Witkoff called Sun’s description of the recent arbitration hearing “riddled with falsehoods,” stating the court has made no ruling and that some of Sun’s claims belong in arbitration. Sun, who invested $45 million in World Liberty and has been sued for defamation, denied the allegations. The technical mismatch and the pending OCC approval remain unresolved as World Liberty pursues final regulatory clearance for USD1.

CRYPTO

Paul Ryan Foundation and Digital Asset to Pilot Blockchain Benefits System in Three U.S. States

62d ago · Source: cointelegraph

Paul Ryan Foundation and Digital Asset plan to pilot a blockchain‑based system for distributing state‑administered benefits across three U.S. states using the Canton Network, with a launch expected in the first quarter of 2027. The RISE program would combine multiple benefit programs into monthly or twice‑monthly payments, apply spending rules for categories such as food, child care and cash, and automatically adjust benefit levels as household income changes. Participating agencies would be able to track payments, balances, spending and compliance data through the Canton platform, which would coordinate rules, permissions and transactions while limiting access to sensitive information. The foundation said the pilot aims to reduce penalties that can arise when benefit recipients’ earnings increase. The companies have not disclosed the specific states or the benefit programs included, and the pilot remains subject to federal approval. Digital Asset noted that Canton previously supported a proof of concept for Japanese government bonds as digital collateral and settled a tokenized U.S. Treasury trade between Franklin Templeton and Virtu Financial. The Canton Coin (CC), used to pay network fees, had a market capitalization of about $4.1 billion and ranked 23rd among cryptocurrencies, according to CoinGecko data. The project could add a public‑benefits use case to a network that has focused on institutional finance.

CRYPTO

U.S. Treasury Increases Bond Buybacks, Bitcoin Rises $78,000

62d ago · Source: coindesk

U.S. Treasury announced on Wednesday that it will increase its purchases of long‑term Treasury bonds to at least $4 billion per operation through early November, using proceeds from short‑term debt rather than creating new money. The move, which doubles the previous buyback cap, sent Bitcoin above $77,000 and marked a 23% weekly gain, the largest since March 2023, according to CoinDesk data.

The Treasury said the operation, scheduled from September 9 to November 4, will involve buying older 10‑ to 30‑year bonds that trade less frequently. Treasury Secretary Scott Bessent said the action could exceed $4 billion per issue. The program mirrors the Federal Reserve’s “Operation Twist,” which bought longer‑duration securities while selling short‑term notes to influence the yield curve without injecting new reserves.

Officials and analysts described the measure as a liquidity‑management tool intended to ease bond‑market stress, not as quantitative easing or yield‑curve control. The Treasury emphasized that it is using existing funds or proceeds from short‑term issuance, not printing money. Analysts at ING noted that the buybacks are a zero‑sum game unlikely to alter the upward trend of long‑dated yields, which rose to a two‑decade high before pulling back slightly.

The announcement comes as long‑term borrowing costs have climbed to their highest level in almost 20 years, raising concerns for government finances and for assets such as Bitcoin and gold. Bitcoin rose past $77,000, up 23% for the week, while gold and the U.S. dollar also moved higher and lower respectively. Some market participants said the signal of potential broader policy support contributed to the rally, even though the scale of the buyback is modest relative to total bond issuance.

Analysts warned that the move may indicate a reluctance to confront the growing deficit directly and could foreshadow more aggressive interventions, including a full‑blown yield‑curve control by the Federal Reserve. Such a step would expand the Fed’s balance sheet and inject large amounts of liquidity into markets.

CRYPTO

Bitcoin Rises to $79,200 as Short Squeeze Drives Price Above Key Resistance

62d ago · Source: coindesk

Bitcoin rose to $79,200 on August 21, 2026, before slipping to $77,500, as a short squeeze and liquidations pushed the price above $66,000 and its 200‑day moving average. Analysts disagree on whether the rally signals the end of the bear market. Mati Greenspan, former senior eToro market analyst and founder of Quantum Economics, said the move resembles typical bottom‑formation patterns and that the odds of a significant pullback appear slim, citing White House discussion of Bitcoin Treasury operations, congressional market‑structure legislation, and regulatory actions by the SEC and CFTC. Jason Fernandes, market analyst and co‑founder of AdLunam, cautioned that without sustained spot ETF inflows and easier macro conditions, the price may stall near $75,000‑$76,000. Adam Morgan McCarthy, lead researcher at LO:TECH, described the surge as a short squeeze, noting that more than half of a 7.1% weekly gain occurred in a single hour on roughly a third of daily volume. Tobias Bauer, co‑founder of TBV, reported that Binance executed $1.26 billion of bitcoin futures in a 60‑second window, with funding rates at exchange maximums, indicating a crowded leveraged long position. McCarthy also contrasted Bitcoin’s forced buying with gold’s clean rally on Treasury bond‑buyback news, saying gold showed clearer hedging against currency and inflation risk this week.

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US Expands Iran-Linked Hacking Case to HBO Bitcoin Ransom Plot

62d ago · Source: cryptoslate

US prosecutors unsealed a 14‑count second superseding indictment that adds eight defendants to an existing case, bringing the total to 17 people linked to the Iran‑based Mabna Institute. Six of the new defendants are alleged participants in the 2017 HBO intrusion that led to a Bitcoin extortion attempt valued at roughly $6 million. Prosecutors say Mabna operated as a private firm carrying out cyber intrusions on behalf of Iran’s Islamic Revolutionary Guard Corps and other Iranian government, university and private‑sector clients. The indictment alleges the group compromised more than 100,000 professor accounts, stole about 31.5 terabytes of academic data and intellectual property, and caused more than $20 million in investigation and remediation costs across private‑sector and government targets. The case expands a probe that began in 2018 and ties the HBO breach directly to the broader Mabna prosecution. The Justice Department has not alleged that HBO paid the ransom. The State Department’s Rewards for Justice program offered up to $10 million for information leading to the location of five named defendants.

CRYPTO

MANTRA Chain Remains Offline after Exploit; Restart Dependent on Patch Test

62d ago · Source: cryptoslate

MANTRA Chain stayed halted on Aug. 21 after the development team discovered an exploit in an upstream dependency. The mainnet was paused, preventing transactions, transfers, staking and other on‑chain activity. The incident record indicates that endpoints and transactions were frozen while the root cause was reviewed. MANTRA said it was tracking fund movements and coordinating with exchange partners while assessing the full scope of the breach.

The team released patched software version v8.4.0 that addresses the vulnerability. The update is being tested on the DuKong testnet, which serves as the gate before any mainnet upgrade. Validators are required to keep their nodes offline until a coordinated restart is announced, because the restart must be executed by the broader validator set.

MANTRA outlined a three‑step restart plan: (1) complete testing of the patched release, (2) obtain validator readiness, and (3) execute a coordinated upgrade. The restart is targeted for later on Aug. 21, pending successful testing. Users were told no action is required while the chain remains offline. The impact on asset holdings has not been confirmed.

CRYPTO

Wyckoff Distribution Framework Remains a Tool for Bitcoin Traders

62d ago · Source: cryptonews

Richard Wyckoff developed his market framework in the early 1900s and the distribution phase of that framework is still referenced by Bitcoin traders. The framework divides price action into accumulation, markup, distribution and markdown phases, with distribution marked by specific events such as a buying climax, automatic reaction, secondary test, sign of weakness and last point of supply. Volume analysis is central; traders compare effort (volume) against result (price movement) to detect when large participants are offloading positions. Bitcoin showed a distribution pattern in the first half of 2021, trading between roughly $48,000 and $64,000, with a buying climax in April on high volume, followed by an automatic reaction, a secondary test on lower volume and a sign of weakness when price fell below $47,000 on increased volume before a markdown to $29,000. On‑chain data later indicated that long‑term holders were distributing coins during that range. After reaching about $73,000 in March 2024, Bitcoin entered a multi‑month range; analysts debated whether the pattern represented distribution or re‑accumulation. Wyckoff analysis relies on reading price and volume directly rather than applying mathematical indicators, and it does not provide price targets or timing, only probable phases. Common mistakes include applying the pattern without confirming volume, labeling events too early, and ignoring higher‑timeframe context. The method works best on liquid markets with reliable volume data and may be less reliable on low‑liquidity altcoins. Practical checks include volume divergence on rallies, a break below the range low on expanding volume, on‑chain signals of long‑term holder activity, and failed up‑thrust after distribution. Daily and weekly charts are preferred for Bitcoin, while lower timeframes tend to produce noise. This article is for informational purposes and does not constitute financial advice.

CRYPTO

Binance Launches Agent OS to Let AI Agents Trade Crypto Across Spot, Margin, and Futures

62d ago · Source: cryptonews

Binance announced on August 20, 2026, that its AI Agent OS allows AI agents such as ChatGPT and Claude to trade cryptocurrency on its exchange. The platform bundles APIs, an agent wallet hub, an x402 payment layer and a skills marketplace into a single access point. Five other exchanges launched similar agent‑trading tools between July and August 2026, each employing a different custody model. Agent OS creates isolated sub‑accounts for each agent, preventing withdrawals to external wallets while permitting trades on spot, margin, convert and futures markets. The system uses Model Context Protocol, an open standard developed by Anthropic, to let compatible AI applications discover and invoke exchange capabilities. A skills marketplace lets developers publish pre‑built trading strategies that agents can select and execute without custom code. Binance listed Claude, ChatGPT, Codex and VS Code as agents that can connect. Each agent operates through a walled‑off sub‑account that receives funds from the user’s main account but cannot send assets outside the sub‑account. The sub‑account can be reduced to zero through losing trades or liquidations, but the agent cannot move funds to an external wallet. This design limits theft but does not prevent trading losses. A BadCredit.org survey published August 12, 2026, found that 79 % of prediction‑market users lost money in the past year, and 51 % used borrowed funds, indicating exposure to similar risks in agent‑driven trading. All platforms state that users assume full responsibility for agent‑driven losses, and no exchange has published a liability framework that assigns responsibility for losing trades or cascading liquidations. The SEC, CFTC and other regulators have not issued guidance specific to AI‑driven crypto trading, leaving the legal status of autonomous agents unresolved. In traditional finance, algorithmic trading firms must register and implement risk controls, but crypto exchanges offering agent trading face no equivalent requirements. MCP is relatively simple compared with earlier open‑source libraries, but a vulnerability in its authentication layer could affect every exchange and agent that relies on the standard. No independent security audit of any exchange’s MCP implementation has been published as of August 2026. The industry must decide whether additional safeguards or regulatory clarification are needed before agent‑driven trading becomes widespread.

CRYPTO

Crypto Trade Groups Sue Illinois Over 0.2% Digital Asset Tax

62d ago · Source: coindesk

Crypto trade groups have filed a lawsuit challenging Illinois' 0.2% tax on digital asset transactions. The Crypto Council for Innovation and the Blockchain Association sued the state on Friday. They assert that the tax violates the U.S. Constitution, the Illinois Constitution and the Internet Tax Freedom Act. The tax applies to businesses that transact or store crypto for customers within Illinois, or to firms with more than $100,000 in receipts. It is projected to generate about $60 million for the state budget. Ji Kim, who leads the Crypto Council for Innovation, said the tax "unlawfully picks winners and losers" through the tax code. Summer Mersinger, CEO of the Blockchain Association, said the regime creates uncertainty for consumers and businesses and threatens to fragment a rapidly growing national market. The filing in Sangamon County seeks to block enforcement of the tax. Critics note the tax applies even when a taxpayer has incurred losses on crypto transactions. The litigation adds to industry opposition to the tax and may affect the regulatory landscape for digital assets in Illinois.

CRYPTO

Strategy's Bitcoin Holdings Yield $1.4 Billion Unrealized Gain as Price Rises

62d ago · Source: coindesk

Strategy Executive Chairman Michael Saylor said the company's 840,447 bitcoin holdings are worth approximately $1.4 billion more than the $75,385 average purchase price, based on a current price near $77,000. The unrealized gain equals a 2.4% increase on the total cost basis. In the past four weeks, Strategy repurchased $347 million of its STRC perpetual preferred stock, exceeding one‑third of its $1 billion buyback authorization. STRC rose to $95.62, about 35% above its June low of $71. The company's common stock gained 10% in pre‑market trading to $120, the highest level in two months. Strategy also increased its dollar reserve to $4.8 billion, sufficient to fund 2.8 years of dividend payments and other obligations. Bitcoin fell to $58,000 in July, producing an unrealized loss of roughly $13 billion, or 20.4% of the cost basis, before a recent rally that lifted the price nearly 22% over five days.

CRYPTO

Olenox Industries Faces $22.9 Million Capital Deficit as It Pivots to Off‑Grid Bitcoin Mining

62d ago · Source: cryptoslate

Olenox Industries, an energy company, faces a $22.9 million capital deficit that could impede its plan to pivot to off‑grid Bitcoin mining after acquiring CS Digital Ventures in May. Olenox said its losses, negative working capital and cash‑flow deficits raised substantial doubt about its ability to continue as a going concern, and it had no committed sources of additional financing at June 30. Preliminary July production totaled 15.13 BTC, with a balance sheet showing $1.21 million cash and $26.26 million in current liabilities as of June 30. Revenue from the acquisition through June 30 reached $1.45 million, generating a net loss of $564,104. The gross value of the July output was about $1.16 million at the August 21 Bitcoin price of $76,371.25. The company recorded an average hashrate of 1.02 EH/s, representing 64 % of the fleet’s economic capacity, and cited summer heat, low‑power‑mode operation and normal equipment availability as factors. All figures were preliminary and unaudited. The balance sheet listed $14.55 million in accounts payable and accrued expenses, along with lease maturities, affiliate amounts due, credit lines, derivative and convertible liabilities, and short‑term notes. Olenox said the seven seller notes carry 10 % interest, mature in May 2029, and require interest‑only payments beginning August 2026, implying $1.6 million of annual interest. Olenox said it might have to delay or curtail planned activities if it could not obtain capital when needed. The acquisition involved an upfront payment of $30 million, comprised of $14 million in Series E preferred stock and $16 million in unsecured promissory notes, together with warrants and contingent stock consideration. Olenox plans to convert its own natural gas into off‑grid compute at a targeted cost below $0.02 per kilowatt‑hour, a strategy not reflected in the July results. An August 19 non‑binding letter of intent proposes a $20 million acquisition, primarily in preferred stock, common stock and cash, to further its expansion ambitions, though funding remains dependent on mining margins, seller‑note payments and capital availability.

CRYPTO

Standard Chartered Lowers Bitcoin Year‑End Forecast to $100,000

62d ago · Source: cointelegraph

Standard Chartered has revised its year‑end Bitcoin price target to $100,000, saying the forecast may be too low. The bank originally projected $150,000 in a February report before cutting the estimate. Global head of digital asset research Geoff Kendrick noted in a note that the recent rally has been driven by short liquidations and renewed inflows into spot Bitcoin exchange‑traded funds. He added that low open interest could allow more investors to enter as prices rise. Bitcoin traded at $76,844, up 24% in the past week, according to CoinGecko. Other analysts have suggested the bear market may be nearing its end; Swan Bitcoin chief executive Cory Klippsten said a bottom could form in October, and 10x Research founder Markus Thielen said an August close above $63,000 would confirm a bottom. The bank also lowered its Ether target to $4,000 from $7,500. The outlook remains uncertain as market participants assess the impact of regulatory developments and macro‑economic conditions.

CRYPTO

XRP Rises to $1.40 as ETF Inflows Boost Optimism; MoneySimpler Offers Automated Trading Strategies

62d ago · Source: cryptonews

XRP rose to approximately $1.40, with trading volume increasing as ETF inflows grew, prompting observers to note the token’s potential to reach $5 before month‑end. The broader cryptocurrency market remains highly volatile, and several platforms have introduced AI‑driven automated trading services that aim to simplify participation for inexperienced users. MoneySimpler AI Trading offers a set of preset strategies that specify investment amounts, duration, and projected daily returns; for example, a $100 investment over two days is claimed to yield $4 per day, while larger allocations are presented with corresponding higher returns. Users can register, claim a trial fund and bonus, select a strategy, and allow the system to execute trades automatically, with daily profit settlements. The article includes a disclaimer that the content is not investment advice and is provided by a third party, and it notes that price forecasts remain uncertain while investor interest persists.