CoinPhoton

Nansen CEO says crypto is entering its ‘real-world asset’ era, Bitcoin may never fall below $60,000 again
Nansen founder and CEO Alex Svanevik says crypto is moving beyond its long-standing “get rich quick” image as blockchains increasingly support trading in real-world assets, including tokenized stocks and major indices such as the S&P 500.
Svanevik argued that blockchain’s next phase will be driven increasingly by non-crypto assets rather than purely speculative tokens.
He remains particularly bullish on Solana, rejecting the view that the network is mainly a venue for memecoins. Svanevik praised Solana’s team and business-development capabilities, although he stopped short of making a specific SOL price forecast.
He is also optimistic about Robinhood Chain, calling it a potential major competitor to Coinbase’s Base because of Robinhood’s large distribution network. However, he doubts Robinhood needs to launch a separate token, arguing that value generated by the blockchain could instead accrue to HOOD stock.
On Bitcoin, Svanevik said the market may be close to a cycle bottom and made an especially bullish long-term prediction: Bitcoin may never trade below $60,000 again.
He based that view partly on Bitcoin’s role as a hedge against continued monetary expansion by central banks. Other investors remain more bearish, however, with veteran crypto investor Michael Terpin recently predicting Bitcoin could eventually fall into the $40,000 range before beginning its next major bull cycle. $BTC

IMF warns local-currency stablecoins could accelerate shift into digital dollars
IMF First Deputy Managing Director Dan Katz warned that stablecoins backed by domestic currencies may unintentionally make it easier for users to move money into US dollar-backed stablecoins.
Katz said that once local and dollar stablecoins operate on the same blockchain infrastructure, users can swap between them through decentralized exchanges, liquidity pools or peer-to-peer markets, potentially moving foreign-exchange activity away from banks and traditional currency dealers.
He noted that users may still prefer digital dollars because of their higher liquidity, stronger network effects and broader cross-border acceptance. In South Africa, for example, dollar stablecoins have gained limited adoption, while rand-backed tokens have attracted even less demand.
The IMF official said the impact will vary by country. In highly dollarized economies, stablecoins may simply replace existing dollar holdings, while in countries with restricted dollar access and weaker economic frameworks they could increase demand for foreign currency.
Katz urged regulators to bring stablecoin onramps, offramps and onchain exchange venues within appropriate regulatory frameworks.

US judge grants #bybit expedited discovery in $1.5 billion North Korea-linked hack case
A US federal judge has granted crypto exchange Bybit expedited discovery in its lawsuit seeking to recover assets stolen in the $1.5 billion hack linked to North Korea’s Lazarus Group.
The order allows Bybit to request account identities, balances and transaction histories from exchanges and platforms with US operations, potentially helping the company identify intermediaries and recover funds that remain traceable.
Bybit said that as of June 18, about 90.2% of the stolen assets had become untraceable after moving through mixers, cross-chain bridges and OTC dealers. Only 9.8% remained linked to identifiable wallets, with roughly $75.5 million, or 5.3% of the total, already frozen or recovered.
The February 21, 2025 attack stemmed from a compromise of Safe Wallet infrastructure. The FBI formally attributed the theft to North Korea on February 26, 2025.
Bybit is seeking the return of the stolen crypto, approximately $1.5 billion in compensatory damages, as well as punitive and treble damages under the US RICO Act.

Bitcoin, Ether ETFs attract $1.1 billion in strongest inflow week since April
U.S. spot Bitcoin and Ether ETFs recorded a combined $1.1 billion in net inflows last week, marking their strongest weekly performance since April despite trading volumes remaining near multi-year lows.
Spot Bitcoin ETFs attracted about $853.5 million across five consecutive positive sessions. BlackRock’s IBIT dominated with $693.7 million, accounting for more than 80% of total BTC ETF inflows, while Fidelity’s FBTC added $116.4 million.
Spot Ether ETFs brought in another $244.9 million, extending their positive streak to five consecutive weeks — the longest of 2026.
Bloomberg ETF analyst Eric Balchunas suggested the Bitcoin inflows may partly reflect investors shifting toward ETFs following the Coldcard wallet exploit, which has resulted in at least $111 million in thefts. However, that explanation does not account for the simultaneous surge in Ether ETF demand.
Despite strong inflows, activity remained subdued. Bitcoin ETF trading volume fell 9% week-over-week to about $8.19 billion, the second-lowest full-week total since October 2024. Ether ETF volume declined 21% to roughly $2.38 billion.
For 2026 overall, Bitcoin ETFs still remain about $4.44 billion in net outflows, while Ether ETFs are down approximately $873 million.
Bitcoin traded near $65,100, while Ether was around $1,920 on Saturday morning. $BTC $ETH

Bitcoin briefly splits as BIP-110 supporters launch minority fork
Bitcoin split into two chains on Saturday after nodes enforcing the controversial BIP-110 “anti-spam” proposal rejected a block that did not signal support for the upgrade.
The fork began at block 961,632, but BIP-110 has attracted very little mining power. While Bitcoin’s main chain continued normally, the minority chain had produced only two additional blocks and was already seven blocks behind by 6:00 p.m. ET.
BIP-110 proposes temporary one-year restrictions on non-financial data stored on Bitcoin, including Ordinals inscriptions. Supporters argue the rules would reduce blockchain spam and preserve block space for monetary transactions, while critics say Bitcoin should remain neutral toward any valid transaction willing to pay fees.
Miner backing remains extremely weak. Only 51 of the previous 2,016 blocks, or 2.53%, signaled support for BIP-110, far below the 55% threshold required for activation without a network split.
The fork currently has little economic significance and does not automatically create a separate tradable cryptocurrency. Its survival will depend on whether additional miners, exchanges, wallets and infrastructure providers choose to support it.
Bitcoin traded near $65,000 following the split, with no noticeable immediate market reaction. $BTC

Anthropic has introduced direct communication between Claude Code sessions in version 2.1.224, making it easier to coordinate parallel coding tasks.
Users can now instruct one Claude Code session to send concise summaries, questions or updates directly to another session, allowing work to continue without transferring the entire conversation context.
Sessions can also proactively notify each other about relevant changes while maintaining existing safety boundaries. Messages are exchanged as plain text.
The feature is available on macOS and Linux and is designed to improve multi-session development workflows, particularly when several Claude Code sessions are working on different parts of the same project.

X has launched its new Original Content Rewards Program, replacing the platform’s Revenue Sharing system as it shifts payouts toward original creator content.
The new program requires creators to have at least 500 verified followers and 500,000 qualified Home Timeline impressions from verified users over the past 90 days. Only unique views from Premium subscribers on the Home Timeline count, while reply impressions, repeat views and artificial traffic are excluded.
X will also review individual posts for originality. Original writing, self-produced photos and videos, original graphics and meaningful commentary can qualify, while copied content, simple reuploads, basic summaries and low-effort reactions will not.
Revenue Sharing stopped accepting new members on Aug. 7 and will fully end on Sept. 7. Existing participants can apply for Original Content Rewards beginning Sept. 8, with the first payout for migrated creators scheduled for Sept. 25.

Ethereum’s proposed EIP-8363 staking overhaul has triggered a major debate over the network’s monetary policy, with critics warning it could hurt DeFi, decentralization and institutional adoption.
The “Tapered Issuance Burn” proposal would progressively reduce validator rewards as more ETH is staked, eventually cutting new issuance to zero once 50% of Ethereum’s supply is locked in staking. Ethereum currently has about 41.5 million ETH staked, representing roughly 34% of supply.
Supporters, including Ethereum Foundation researcher Justin Drake, argue that additional staking now provides diminishing security benefits while continuing to dilute non-stakers.
Critics counter that lower rewards could make solo staking uneconomical, increasing concentration among large exchanges, custodians and institutional operators. They also warn that staking yield is deeply embedded across Ethereum’s DeFi lending, collateral and liquid-staking markets.
Bitwise’s Steve Berryman said changing Ethereum’s issuance policy could create uncertainty for institutional investors, while Aave founder Stani Kulechov warned that ETH holders seeking yield could move toward competing assets.
The backlash has turned EIP-8363 into a broader debate over whether Ethereum should prioritize lower issuance or preserve predictable staking economics and network decentralization. $ETH

Reform UK chairman Lee Anderson has called for an investigation into UK Defense Secretary Wes Streeting over a reported $50,000 political donation linked indirectly to former FTX CEO Sam Bankman-Fried.
The funds came from Labour for the Long Term, a think tank whose founder reportedly received a $675,000 gift from Bankman-Fried before later donating to Streeting. Streeting said he requested a donor list before accepting the money and that Bankman-Fried’s name was not included. The think tank’s founder also said Streeting’s contribution came from another donor.
The controversy comes as Reform UK leader Nigel Farage prepares to face voters in a by-election triggered by his resignation amid a separate crypto-related donation scandal. Farage had received millions of dollars in donations from crypto billionaire Christopher Harborne and financial support from George Cottrell, a convicted fraudster linked to a crypto casino.
Meanwhile, a U.S. appeals court this week formally upheld Bankman-Fried’s fraud conviction and 25-year prison sentence, leaving him with limited options including an appeal to the Supreme Court or a potential presidential pardon.

Circle has launched native USDC and its Cross-Chain Transfer Protocol (CCTP) on X Layer, OKX’s Ethereum layer-2 network.
The integration allows users to transfer USDC between X Layer and other supported blockchains through Circle’s burn-and-mint mechanism, enabling crosschain transfers without relying on traditional wrapped tokens.
USDC on X Layer can be used for payments, DeFi lending and borrowing, trading and other onchain applications. Eligible businesses can also access USDC on- and offramps through Circle Mint.
The rollout expands USDC into the blockchain ecosystem connected to OKX, one of the world’s largest crypto exchanges. X Layer is EVM-compatible, allowing Ethereum applications to deploy on the network with relatively few modifications. $USDC

The U.S. Senate’s decision to delay a vote on crypto market structure legislation until September could give Hong Kong and Singapore more time to strengthen their positions as global digital asset hubs, industry executives warned.
First Digital CEO Vincent Chok said prolonged U.S. regulatory uncertainty could slow institutional adoption and make jurisdictions with clearer rules more attractive for capital and talent. Institutions are still waiting for greater clarity on issues including custody, market structure and regulatory oversight.
The Senate confirmed that it would not vote on the CLARITY Act before the August recess, with Senate Majority Leader John Thune citing Democratic opposition and saying the legislation would remain a priority when lawmakers return in September.
1inch deputy general counsel Maylea Ma warned that failure to pass the legislation could revive “regulation by enforcement,” leaving crypto companies dependent on shifting agency interpretations, individual enforcement cases and fragmented state regulations.
Industry figures said continued delays could ultimately push more crypto innovation offshore, while regions including Hong Kong, Singapore and the European Union move ahead with clearer regulatory frameworks.

The U.S. Commodity Futures Trading Commission has warned regulated prediction market platforms against using American-style gambling odds in listings, advertising or customer solicitation, according to Bloomberg.
The CFTC told regulated firms to comply with federal law and avoid potentially “deceptive” practices. The warning specifically targets moneyline-style odds, which show potential winnings using plus or minus figures, rather than the probability-based pricing typically used by prediction markets.
The agency cited research suggesting that American-style odds may encourage greater risk-taking among sports bettors.
Kalshi said it would comply with the CFTC’s guidance by the required deadline, while Polymarket did not comment.
CFTC Chair Michael Selig has repeatedly argued that the agency has exclusive jurisdiction over federally regulated prediction markets, including sports-related contracts. The CFTC has also challenged several states seeking to regulate or restrict such markets under state gambling laws.
The dispute is becoming increasingly political, with senators and tribal gaming regulators pushing for legislation that would preserve state authority over sports betting and limit the expansion of prediction markets into traditional gambling territory. $BTC
$ETH

Trump Media and Crypto.com are ending two major partnerships as both companies adjust their business priorities.
The companies mutually agreed to abandon plans for Trump Media Group CRO Strategy, Inc., a proposed publicly traded digital asset treasury company designed to accumulate Crypto.com’s CRO token. The decision was attributed to prevailing market conditions and shifting business and stakeholder priorities.
Crypto.com will also no longer support Yorkville’s planned ETF offerings tied to the partnership, including previously announced crypto ETFs under Trump Media’s Truth.Fi brand. Yorkville said its broader ETF plans remain unchanged.
CRO fell about 4% following the announcement.
Despite ending the partnerships, Trump Media remains a major corporate bitcoin holder, ranking as the 14th-largest publicly traded BTC treasury with more than $600 million in bitcoin. Wallets linked to the company recently transferred 2,628 BTC to Crypto.com, though Trump Media said the bitcoin was transferred, not sold.

SharpLink CEO Joseph Chalom has formally opposed Ethereum proposal EIP-8363, warning that its planned reduction of validator rewards could weaken DeFi and make ETH less attractive to institutions.
The proposal, called “Tapered Issuance Burn,” would progressively burn a larger share of Ethereum consensus rewards as more ETH is staked. If roughly 50% of the supply were staked, issuance yield would fall to zero. The change would be phased in over about 18 months.
Chalom argued that staking yield acts as a base rate for Ethereum’s onchain economy, supporting liquid staking, lending and institutional capital deployment. He said reducing it could push real yields toward zero and drive collateral and activity to competing networks.
EIP-8363, co-authored by researchers including Justin Drake and Jérôme de Tychey, is intended to limit excessive staking and reduce dilution for non-stakers. Critics including Aave founder Stani Kulechov say it could hurt solo stakers, weaken ETH’s appeal as a productive asset and make yields less predictable.
The proposal is currently only under consideration for the Hegotá upgrade and can still be rejected. $ETH

The U.S. Treasury has sanctioned crypto exchanges Shelbit and Aban Tether as part of its expanding “Economic Fury” campaign targeting Iranian financial networks.
OFAC said it traced more than $3 million in transfers between Shelbit and wallets linked to Iran’s Islamic Revolutionary Guard Corps (IRGC), including over $1 million sent to Shelbit and more than $2 million received from the exchange.
Treasury also sanctioned Shelbit operator Siavash Kayvanpour and several companies he controls in Georgia, Poland and the UAE. Authorities allege Shelbit supported more than 2,000 Iranian gambling websites and helped move tens of millions of dollars through illicit financial networks.
A recent Reuters investigation found Shelbit processed at least $4 billion over the past two years, with at least $676 million moving from Shelbit-linked wallets to Binance.
OFAC separately targeted Iran-based Aban Tether, accusing the exchange of processing millions of dollars involving previously sanctioned Iranian crypto platforms, including Nobitex. $BTC

XRP Whales Quietly Accumulate as Ether Trades Below Holders’ Cost Basis
Large XRP holders have continued accumulating the token during its decline from around $2.40 in January to roughly $1.00–$1.20, according to CryptoQuant.
The firm said large spot orders remain in “big-whale” territory, but buying pressure has not been strong enough to trigger a breakout. CryptoQuant described the pattern as “quiet absorption” and a potential basing phase rather than capitulation.
Ether, meanwhile, currently offers the strongest valuation case among BTC, ETH and XRP. ETH trades near $1,900, well below its realized price of about $2,450, meaning the average holder is underwater on paper.
Bitcoin remains roughly 17% above its realized price of $52,900, while XRP trades around $1.10 compared with a realized price near $0.75.
CryptoQuant data also shows larger ETH wallets have been accumulating. Wallets holding 10,000–100,000 ETH increased their balances from about 14 million ETH in mid-2025 to a record 19.6 million ETH.
Bitcoin whales have also rebuilt holdings to around 3.06 million BTC after aggressively buying when prices fell below $60,000 in June.
CryptoQuant said the market may be entering the final stage of the decline, although another leg lower remains possible before a definitive bottom is confirmed. $XRP $ETH $BTC

Bitcoin Stalls Below $65,000 as US Data Revives Stagflation Concerns
Bitcoin remained stuck near $64,000 on Thursday, continuing to lag behind stocks and gold as new U.S. economic data raised concerns over a potential return of stagflation.
BTC traded around 0.5% lower on the day and remained below $65,000, while U.S. equities opened largely flat. Hopes that Iran and Oman could help reopen the Strait of Hormuz also failed to generate significant market volatility, with uncertainty remaining over whether international shipping would fully resume.
Meanwhile, U.S. ISM Services PMI rose slightly to 54.1 in July, but the employment component dropped to 47.4, its weakest level since March. At the same time, the prices-paid index jumped to 70.3, highlighting the combination of persistent inflationary pressure and a weakening labor market.
Market analysts said the data is increasing concerns about stagflation — a scenario of slowing economic activity alongside elevated inflation.
Bitcoin has remained trapped in a narrow trading range since early June despite gold reaching six-week highs and the S&P 500 hitting record levels.
Glassnode described current BTC conditions as “boredom rather than capitulation,” while Bitfinex Research said Bitcoin is showing underlying stress but has yet to experience the decisive, high-volume move needed to confirm a genuine market breakdown. $BTC

US Appeals Court Formally Upholds Sam Bankman-Fried’s 25-Year Prison Sentence
The U.S. Court of Appeals for the Second Circuit has formally upheld former FTX CEO Sam Bankman-Fried’s conviction and 25-year federal prison sentence, further narrowing his options for an early release.
The court issued its mandate following a June ruling that affirmed Bankman-Fried’s conviction on seven felony counts and an $11 billion forfeiture order.
A three-judge panel rejected Bankman-Fried’s argument that FTX customers could ultimately have been made whole. The court said customers were defrauded when their funds were transferred to Alameda Research, regardless of whether Bankman-Fried believed the money could later be repaid.
With the appeals process at the Second Circuit effectively concluded, Bankman-Fried’s remaining options include seeking review by the U.S. Supreme Court or receiving presidential clemency.
President Donald Trump said in January that he had no plans to pardon Bankman-Fried, while the U.S. Senate recently unanimously adopted a resolution opposing clemency for the former FTX chief.

Crypto PAC Groups Spend $1.5 Million Ahead of Key U.S. Primaries
Two groups affiliated with crypto industry-backed Fairshake PAC have spent more than $1.5 million supporting candidates in Florida, Alaska and Wyoming ahead of Aug. 18 primary elections, according to Federal Election Commission filings.
Defend American Jobs spent more than $500,000 each supporting Republican Rep. Nick Begich in Alaska, Sydney Gruters in Florida’s 16th district and Rep. Harriet Hageman in Wyoming’s Senate race. Protect Progress also spent more than $50,000 backing Democratic Rep. Lois Frankel in Florida.
Begich, Hageman and Frankel previously voted in favor of both the GENIUS Act and the CLARITY Act, while Gruters has expressed support for crypto market structure legislation.
The spending comes days after another Fairshake-backed candidate, Democratic Rep. Shri Thanedar, lost his Michigan primary despite more than $2 million in support from Protect Progress.
Fairshake and allied crypto groups spent more than $170 million during the 2024 U.S. election cycle. With all 435 House seats and 33 Senate seats contested in the 2026 midterms, lawmakers’ votes on the CLARITY Act could influence where crypto-backed PACs deploy campaign funding. $BTC

Vangrid Raises $9 Million to Expand Spatial Data Network for Physical AI
DePIN project Vangrid has raised $9 million in a token-based seed round backed by HashKey, Crypto.com Capital, Animoca Brands, Borderless, Gate Labs and Mapleblock Capital.
The Amsterdam-based startup plans to use the funding to expand its decentralized spatial data network, which allows users to capture real-world locations with smartphones and receive payments for verified geospatial data.
Vangrid converts submitted captures into 3D spatial models and verifies their origin onchain. The company is targeting Physical AI applications such as robotics, autonomous agents and digital models, as well as potential defense and government use cases where GPS access may be limited.
The network is built on Base and uses Ethereum Attestation Service for data verification. Vangrid says it has already recorded nearly 100,000 verified captures, 200,000 grid events and more than 1,300 batch attestations.
Its web and Android apps are currently live, with an iOS version planned. Vangrid also intends to launch its own token later this year, with token-based contributor rewards to be announced closer to launch.