*Bitcoin is experiencing its quietest month of trading since late 2023.

Average daily Bitcoin spot trading volume on exchanges tracked by K33 was just $2.2 billion in July, the lowest monthly average since November 2023. Open interest on the CME remained near multi-year lows, and perpetual futures funding rates remained low throughout the month.

K33 attributed this weakness to the same conditions that forced several exchanges to shut down entirely.

*One trade just triggered a $60 million liquidation of Hyperliquid.

On July 27, a single order on the thinly traded Korean options exchange sent Trade.xyz’s SK Hynix perpetual contract plummeting by nearly 19% in a matter of minutes, wiping out approximately $60 million worth of trader positions. On July 29, Trade.xyz announced the refund as a one-time discretionary decision.

The platform is currently reviewing how much weight external price flows should have compared to its own order book.

*Binance has just added gold and silver options.

On July 29, Binance launched gold and silver options contracts, building on its perpetual commodity options, whose daily gold volume has already peaked at $7.77 billion. The new contracts are settled in USDT and are available through Binance’s ADGM-regulated Nest Exchange.

Retail traders can buy calls and puts, but cannot write them, a restriction reserved for designated market makers.

*MoonPay has just connected its payment vault to ChatGPT and Claude.

On July 29, MoonPay launched PayBox, a payment vault that allows ChatGPT and Claude users to authorize cryptocurrency purchases, token swaps, and cross-chain transactions directly from a conversation. Users remain in control of their funds throughout the process.

Setup requires installing a vault, registering an access key, and connecting a wallet or payment card after verifying their identity.

*Three Fed members just voted to raise the federal funds rate.

On July 29, the Federal Reserve kept rates at 3.50% to 3.75%, but three regional bank presidents voted for an immediate hike, the most drastic move under Chairman Kevin Warsh.

Following the decision, BTC fell to $63,890, while ETH was just above $1,900. The Fed cited persistent inflationary pressures, partly related to energy supply disruptions in the Middle East.