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CryptoQuant analyst Darkfost said Binance’s stablecoin reserves fell by about $1.55 billion over the past 30 days, while Bybit recorded roughly $786 million in outflows, bringing the combined decline to nearly $2.3 billion. The drop may partly reflect MiCA-related user migration in Europe, weaker fresh inflows, and stablecoins moving into self-custody or onchain yield products, though the destination of the funds remains unconfirmed.

SEC Form 4 filings show that Circle President and former CFTC Chair Heath Tarbert has sold CRCL shares 10 times since June 2025, totaling about $30.77 million. The transactions mainly involved stock sales and option exercises. He still holds roughly 503,000 shares, with no disclosed open-market purchases.
Tarbert previously told FOX Business, when asked about CRCL falling from around $260 to $62, that Circle remains focused on the long term and that if it succeeds in building financial infrastructure for the internet, “the stock will take care of itself.”

Jeff Yan: I'm not interested in imitation, only in zero-to-one innovation
On July 9, 2026, in an interview on the VALRdotcom podcast Hyperliquid co-founder Jeff Yan stated that the team is trying to build mostly things that do not yet exist to achieve a zero-to-one leap. He believes that building something merely for feature parity because 10 people have already done it is not exciting, nor is it something the team would devote all their minds to.
Citing HIP-3 as an example, Yan noted that this pioneering permissionless deployment structure creates an interesting synergy among protocols, deployers, interfaces, and exchanges. He expressed that building things that do not exist yet cannot be informed by metrics; metric growth is simply a downstream benefit, and the right approach is to always keep finding the next zero-to-one.

Hyperliquid sagte, dass die HIP-4 Outcome-Märkte zunächst in einem zukünftigen Upgrade auf dem Testnet starten und später eine zustimmungsfreie (permissionless) Bereitstellung unterstützen werden. Bereitsteller müssen 500k HYPE staken und können bei unklaren Marktdefinitionen oder falscher Abwicklung (Settlement) abgemahnt (slashed) werden. Validatoren werden standardisierte Vorlagen genehmigen, während Bereitsteller Märkte mit bis zu 50% Gewinn-/Gebührenbeteiligung starten können. Hyperliquid wies darauf hin, dass die Anzahl der handelbaren Events in Vorhersagemärkten weit über der von Spot- und Perpetual-Märkten liegt, wodurch sie ein zentraler Bereich für das langfristige Wachstum der Outcome-Märkte sind.

According to Onchain Lens, Aurora mainnet has been down since 02:16:11 UTC and remains unavailable. Aurora is an EVM-compatible network built on NEAR Protocol, enabling Ethereum applications and smart contracts to run at lower cost. It raised $12 million in 2021 from investors including Pantera Capital, Electric Capital and Dragonfly Capital.
DefiLlama data shows the network’s TVL peaked at about $2.5 billion in 2022, but has since fallen 99% to $4.65 million.

HashKey On-Chain and TradeGo will build a blockchain-based financing platform for cross-border trade using electronic bills of lading and other trade documents. HashKey Issuance Platform will convert these documents into on-chain credentials, while TradeGo will handle their issuance, circulation and verification, as well as trade asset authenticity checks.
This post is sponsored by HashKey

Allbridge sagte, es habe Allbridge Core nach einem Sicherheitsvorfall pausiert und LPs in den betroffenen Pools dazu aufgefordert, Gelder abzuziehen. PeckShield sagte, das Protokoll sei für etwa 1,65 Millionen US-Dollar ausgenutzt worden; der Angreifer habe die gestohlenen Gelder von Solana nach Ethereum überbrückt. Onchain Lens sagte, der Exploit habe einen 1,12 Millionen US-Dollar schweren USDC-Flash-Loan von Kamino verwendet, um das Verhältnis der USDC/USDT-Pool-Quote zu manipulieren und Liquidität zu manipulierten Kursen abzuziehen.

Laut CoinDesk könnten Tether und andere ausländische Emittenten von Stablecoins bis Juli 2028 Zeit haben, um die Anforderungen des GENIUS-Gesetzes zu erfüllen, oder andernfalls das Risiko eingehen, für eine Notierung an US-amerikanischen zentralisierten Börsen ausgeschlossen zu werden. Die Einhaltung könnte eine Registrierung bei der OCC erfordern, die Befolgung von US-amerikanischen Freeze- und Seizure-Anordnungen sowie mögliche Änderungen an der Reservestruktur von USDT. Bundesbehörden haben die Durchführungsbestimmungen bisher noch nicht finalisiert.

Japan Recognizes Crypto as Financial Products, South Korea Plans Tokenized Treasury Pilots, Russia Opens USDT and USDC Trading to Qualified Investors, Coinbase Opens Registration for Chinese Users, and Bybit Launches in Indonesia. For the complete article and weekly curated reports, subscribe to our Substack:

Der Hard Fork von Cardano, Van Rossem, hat das Protokoll der Version 11 aktiviert und markiert damit das erste Upgrade des Netzwerks, das vollständig durch Onchain-Governance genehmigt wurde. Das Upgrade führt neue Plutus-Fähigkeiten und Verbesserungen im Kostenmodell ein, die darauf abzielen, die Ausführungskosten von Smart Contracts zu senken, und schafft gleichzeitig die technische Grundlage für die Ära von Dijkstra.

Laut Nikkei plant die große japanische Logistikgruppe und Amazon-Delivery-Partner AZ-COM Maruwa, einen yen-gestützten Stablecoin namens JPYC einzusetzen, um etwa 2.300 Partner-Carrier und unabhängige Fahrer zu bezahlen. Der Rollout wird voraussichtlich Japans erste groß angelegte Nutzung von JPYC durch ein Unternehmen markieren. AZ-COM Maruwa plant außerdem, 1 Milliarde Yen in JPYC zu investieren und eine Geschäftspartnerschaft mit dem Emittenten einzugehen.

1. Japan’s Upper House Passes FIEA Amendment, Officially Classifying Crypto Assets as Financial Instruments link
Japan’s House of Councillors plenary session passed amendments to the Financial Instruments and Exchange Act and the Funds Settlement Act, formally defining cryptocurrencies as “financial products” under law for the first time. To strengthen investor protection, Japan has introduced insider trading regulations for the crypto sector for the first time, banning transactions based on undisclosed material information and granting investigative authority to the Securities and Exchange Surveillance Commission. The maximum penalty for unlicensed operations has been raised to 10 years’ imprisonment or a fine of 10 million yen, while mandatory annual disclosure requirements are imposed on issuers of “specified crypto assets”. In terms of tax reforms, the bill shifts taxation on crypto gains from the current comprehensive taxation with a top marginal rate of 55% to separate self-assessed taxation at approximately 20%, alongside a three-year loss carryforward provision, set to take effect on January 1, 2028. Furthermore, the proposed amendments will establish an institutional framework supporting cryptocurrency ETFs.
2. South Korea FSC Extends Victim Compensation Coverage to Crypto Asset Losses link
South Korea’s Financial Services Commission (FSC) recently released amendments to the Enforcement Decree of the Special Act on the Prevention of Telecommunications Financial Fraud and Refund of Victim Funds, which formally include crypto assets in the scope of refundable funds lost to telecom scams. Under the amendments, the amount to be refunded shall be determined based on the type and quantity of crypto assets stolen from victims. If multiple types of assets are involved, valuation will be calculated at market prices prevailing at the time funds are frozen. To assist victims unfamiliar with crypto trading, regulators will designate specialized entities to liquidate recovered crypto assets and disburse proceeds to victims in cash. The original Special Act was promulgated on March 31 and is scheduled to take effect on October 1.
3. South Korea MOEF to Push Blockchain-Based Tokenized Treasury Bonds, Pilots Slated for 2027 link
South Korea’s Ministry of Economy and Finance announced during its key business briefing held on the 15th that it will modernize national treasury management by building a blockchain-based operational innovation model. To prevent illegal fund receipts, South Korea plans to roll out the world’s first system for treasury fund disbursement via deposit tokens. Meanwhile, to cut transaction costs, a pilot program for tokenized government bonds will be launched within 2027. In addition, the ministry will revamp its state-owned property management system centered on real estate and establish a national asset management framework covering intellectual property (IP) and virtual assets (digital assets). It will also strengthen coordinated development oversight through the formulation of the Basic Act on National Assets.
4. Russia Plans to Allow Qualified Investors to Trade USDT & USDC via Local Platforms Starting September link
The Financial Market Committee of the State Duma of Russia has prepared amendments for the second reading of the crypto regulatory bill. Under the proposals, qualified investors will be permitted to purchase foreign stablecoins such as USDT and USDC as well as other digital instruments via regulated Russian infrastructure starting September 1, 2026. The Central Bank of Russia categorizes such stablecoins as “foreign digital rights” rather than cryptocurrencies. Non-qualified investors may only trade relevant assets included on the central bank’s public circulation list, and the above restrictions do not apply when such assets are used for foreign trade settlements.
5. Malaysia Probes Digital Nomad Community Founded by Ex-Coinbase CTO link
Malaysia’s Ministry of Home Affairs has launched an investigation into Network School, a digital nomad community founded by former Coinbase CTO Balaji Srinivasan. The community is accused of hosting Israeli citizens who entered Malaysia under passports issued by other nations. Relevant authorities will verify the identities and nationalities of involved individuals, the validity of their travel documents, and their purposes of entry. Malaysia bars entry for holders of Israeli passports, yet no law prohibits dual nationals from entering using non-Israeli travel documents. Established in 2024, Network School is reportedly located in Forest City, Johor, Malaysia. The Johor state government will also re-examine whether the community complies with local regulations concerning business licenses, building usage and commercial operations.
6. Coinbase Opens Registration for Mainland Chinese Users link
On July 14, multiple social media users reported that Coinbase had opened registration for Chinese users. Wu Blockchain verified with Coinbase staff that the news is true. Users can now complete platform verification with a Chinese ID card and a Chinese address, whereas the prior requirement was a Chinese passport plus a Hong Kong address.
7. Weekly Trading Volume of Korea’s Five Major Crypto Exchanges Slumps to 8 Trillion KRW link
According to statistics from South Korean crypto media Digital Asset, the total weekly trading volume of South Korea’s five major crypto asset exchanges has fallen to around 8 trillion won, more than halved from 17.7 trillion won in early June. Among them, Upbit holds a 63.57% market share, Bithumb 29.18%, Coinone 6.41%, Korbit 0.76% and GOPAX 0.07%.
8. Bybit Launches Localized Indonesian Platform Bybit Indonesia link
Following the completion of its majority stake acquisition in Indonesian crypto platform PT Enkripsi Teknologi Handal (formerly NOBI), Bybit has officially launched its localized operation platform Bybit Indonesia. The platform operates under the supervision of Indonesia’s Financial Services Authority (OJK). Bybit Indonesia will roll out services in phases. The first phase supports more than 500 trading pairs, equipped with institutional-grade liquidity, market monitoring and risk control systems to comply with local regulations and global standards. Future products will be launched gradually in line with regulatory requirements with strengthened information disclosure and user protection. Bybit Indonesia is led by a local management team responsible for daily operations, compliance enforcement and communications with regulators. The company also focuses on education to boost users’ awareness of digital assets and risk awareness through localized programs including Bybit Learn.
9. Zhuoer: Fully Liquidated Ethereum Spot; Maximum Rebound Targeted at $2,000 link
Jiang Zhuoer, founder of TBTC Pool, posted that he sold his remaining 50% spot Ethereum position when the price rose to $1931 and has fully liquidated all Ethereum spot holdings at an average selling price of $1834.5. He believes this rebound has nearly reached the drop-off point from June 2 with massive trapped overhead supply, putting the upside price cap around $2000, hence his decision to sell. He emphasized this strategy applies solely to spot trading, not leveraged futures, and warned investors against holding losing leveraged positions or averaging down losses.
10. Taiwan Tech Firm Bixiang Technology Launders NT$2.3B via Crypto; Mastermind Sentenced to 22 Years in First Instance link
Taiwan virtual currency firm BitShine Technology is accused of colluding with fraud rings to sell USDT via 45 physical stores, facilitating over NT$2.3 billion in money laundering and defrauding 1,539 victims of roughly NT$1.275 billion. In the first-instance ruling by Shilin District Court, the operator Shi Qiren was convicted of operating virtual asset services without completing anti-money laundering registration and 485 counts including aggravated fraud and money laundering. He was sentenced to 22 years in prison, and illicit gains worth approximately NT$43.72 million were ordered confiscated.
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Circle President responds to the stock plunging from $260 to $62
On July 14, 2026, during an interview with FOX Business, Circle President Heath Tarbert addressed concerns regarding the company's stock price dropping from $260 to $62. He stated that Circle is playing the long game, believing that if they achieve their mission of building full-stack internet platform infrastructure, in the long run, the stock will take care of itself.
In response to emerging competition from the 140-company Open USD consortium, which includes Visa, Stripe, Mastercard, and Google, Heath Tarbert expressed that USDC's network effects—backed by $73 billion in circulation and native support on 34 chains—are incredibly hard to replicate. Regarding the competitive landscape with Tether, he noted that USDC is the largest regulated stablecoin and holds the highest actual transaction volume.

Jeff Yan: Crypto's biggest problem is the lack of top entrepreneurial talent
On July 9, 2026, Hyperliquid co-founder Jeff Yan stated in an interview on the VALR podcast that a fair criticism of the current crypto and fintech sectors is their inability to attract enough of the highest quality entrepreneurial talent. He believes that amidst the AI boom and the social pressure to pursue prestige, the smartest young people often do not know what they could do to make the most impact, resulting in very few choosing to enter the space.
Jeff Yan expressed that rebuilding financial engineering from the ground up based on first principles and translating academic concepts into scalable market designs is an incredible undertaking. He urged the younger generation not to take things at surface value, but to identify the real problems the world faces and participate in the incredible renaissance of on-chain finance happening right now.

Der Strategy Executive Chairman Michael Saylor veröffentlichte einen Artikel mit dem Titel „110 Gründe, warum BIP 110 eine schlechte Idee ist“, in dem er sich gegen den Vorschlag wandte, bestimmte Bitcoin-Transaktionstypen durch Konsensänderungen einzuschränken. Saylor argumentierte, dass Bitcoin nicht in der Lage sei, die Absicht von Transaktionen zu bestimmen, und dass umstrittene Verwendungen durch Marktmechanismen und Node-Richtlinien geregelt werden sollten, statt durch Protokoll-Einschränkungen auf Ebene des Protokolls. Er fügte hinzu: „Bitcoin braucht keine Beschützer der Reinheit. Es braucht Beschützer der Neutralität.“

1. Die institutionelle Privacy-Firma für Ethereum EthSystems startet offiziell, unterstützt von BitMine, SharpLink und weiteren Institutionen Link
Die Firmа für Ethereum-Privacy auf institutionellem Niveau EthSystems wurde offiziell gestartet. Als erste Unterstützung ist die aufgeführte Ethereum-Treasury-Gesellschaft BitMine an Bord, außerdem SharpLink, SNZ Holding sowie Joseph Lubin, Mitgründer von Ethereum und Gründer von Consensys. Gegründet vom ehemaligen Team der Institutional Privacy Working Group der Ethereum Foundation, entwickelt EthSystems Privacy- und Compliance-Systeme für regulierte Organisationen, darunter Banken und Asset Manager. Diese Lösungen ermöglichen institutionelle Transaktionen auf Ethereum und schützen dabei sensible Daten wie Transaktionsdetails und die Identitäten von Kunden.

KOL Rune fragte den Lead für Coinbase-Trading-Produkte Cobie, wie die Base App Onchain-Nutzer gewinnen will, nachdem das Vertrauen in das Base-Ökosystem beschädigt wurde. Cobie antwortete, dass er vor ein paar Tagen die Base App und die Coinbase-Trading-Produkte übernommen habe, aber nicht für das Base-Netzwerk verantwortlich sei. Er sagte, Coinbase sei seit langem etwas distanziert von kryptonativen Nutzern, und dass sowohl Coinbase als auch Base das Vertrauen der Nutzer durch eine Reihe vermeidbarer Fehler stark untergraben hätten – einschließlich des heutigen Vorfalls. Cobie fügte hinzu, dass er künftig mehr auf Onchain-Nutzer hören und Produkte entwickeln möchte, die diese tatsächlich nutzen wollen.

Tom Lee: Ethereum wird ungeduldige Anleger bestrafen
Am 7. Juli 2026 erklärte Tom Lee im New Era Finance Podcast, dass die jüngste Verzögerung im Kryptomarkt vor allem auf die Folgen der Enthebelung zurückzuführen sei, wobei Kapital in renditeerbringende Sektoren fließe. Als er darüber sprach, wie man beim Rücksetzer von Assets wie Ethereum Überzeugung bewahren kann, merkte er an, dass sich die Fundamentaldaten nicht geändert hätten.
Indem er Nvidias Anstieg von 2 Billionen US-Dollar innerhalb von drei Monaten nach einer langen Konsolidierung bei 160 US-Dollar anführte, erklärte Tom Lee, dass sowohl der Aktien- als auch der Kryptomarkt letztlich ungeduldige Anleger bestrafen werden, und dass diejenigen, die nicht durchhalten können, tatsächlich die Verlierer sind.