CoinMarketCap's Altcoin Season Index rose two points from the previous day to 49. The index compares top 100 coin performance, excluding stablecoins and wrapped coins, against Bitcoin over the last 90 days.
Russia's final draft cryptocurrency bill would restrict retail investors from buying foreign stablecoins. The draft reclassifies stablecoins as a separate regulatory category. Retail investors would be limited to products designated by the Central Bank of Russia.
An address suspected to belong to a16z deposited 471,500 HYPE worth $30.57 million to exchanges. EmberCN reported that the exchanges included OKX, Bybit, and Gate.io.
Balaji Puts $122M Malaysia Expansion on Hold After Network School Probe
Balaji Srinivasan said Network School put a $122 million Malaysia expansion plan on hold after authorities probed its Forest City community. Malaysia’s Home Affairs Ministry said initial checks found all 266 foreigners held valid documents. Srinivasan is seeking an MOU or special economic zone change for legal certainty.
About 1.389 billion USDT traded on Binance's peer-to-peer market in Venezuela between June 11 and July 13, averaging roughly $44 million a day. Ecoanalitica estimated the volume equaled about 75% of the country's monthly oil exports.
A long-biased investor known as Caveman liquidated tech and semiconductor stock positions after floating losses exceeded $10.4 million over the past 30 days.
A UK group that posed as police officers was sentenced this week after stealing $5.4 million in cryptocurrency. The group used phone calls and a fake police website to convince holders to send funds to so-called safe accounts.
Gate market data showed CSOP 2x Long Hynix fell 17.8% and CSOP 2x Long Samsung fell 14.7% after Hong Kong opened. BIT market data showed SK Hynix ADR fell 13.69% at the U.S. close before rising approximately 1% after hours.
Russia Delays Crypto Criminal Liability Bill Until After Duma Elections
Anatoly Aksakov said Russia's bill on criminal liability for illegal cryptocurrency transactions will be postponed until after the new Duma election. The bill passed its first reading in early July and includes fines and up to seven years in prison. The penalty provisions are set to take effect on July 1, 2027.
On-chain analyst Ember said an address suspected to be a16z withdrew 471,500 Hyperliquid native tokens worth $30.57 million over the past day. The tokens were later deposited into OKX, Bybit, and Gate.
Zhipu AI opened 12.14% lower on the Hong Kong stock market. Market sources indicated that Zhipu's July ARR reached $1 billion, and Zhipu has not yet responded.
The Russian State Duma Financial Market Committee recommended rejecting amendments that would ease cryptocurrency transaction restrictions. The retail annual purchase limit through a single intermediary would stay at 300,000 rubles instead of rising to 600,000 rubles. The bill approval timeline has been postponed to September 1st.
The morning roundup highlighted a reported US CFTC investigation into Trump staff and Crypto.com's $400 million investment from Citadel Securities. The investment valued Crypto.com at $20 billion.
Russia Bill Proposes Ban on Non-Professional Investors Buying Foreign Stablecoins
Russia's latest crypto regulation bill proposes banning non-professional investors from buying foreign stablecoins. The bill classifies collateral-backed stablecoins as non-deliverable foreign digital instruments. Non-qualified investors could only buy specific assets on a central bank-approved list.
Two Defendants Indicted in $43M Pig-Butchering Laundering Case
Zhuo Ying Chen and Hao Jie Zhang were indicted in Brooklyn federal court over allegations that they laundered at least $43 million in pig-butchering investment fraud proceeds. Prosecutors allege they used about 45 shell companies and 140 corporate bank accounts to move proceeds to accounts in China.
Warsh Says Fed Does Not Want Bailouts, Including Crypto
Federal Reserve Chair Kevin Warsh said the Fed does not want to be in the bailout business, including for crypto. Warsh made the comment at a July 14 U.S. House Financial Services Committee hearing. Warsh did not clearly commit that the Fed would never support stablecoins or crypto markets during a run.
SoSoValue data shows the U.S. Solana spot ETF recorded a single-day total net inflow of $1.6553 million yesterday. Grayscale Solana Trust was the only fund with inflows.