Fanatics has agreed to acquire Water Street Labs and CX Clearinghouse from BGC Group to expand its prediction market business. Financial terms were not disclosed, and the deal will give Fanatics its own federally regulated exchange and clearinghouse.
U.S. President Trump said the U.S. is conducting "good negotiations" with Iran. Trump said he has "plenty of time" to handle the Iran issue. Trump said something "very well may happen" on a potential agreement.
Uphold laid off 17% of its global workforce and is redirecting resources toward its enterprise business. The company said offices will remain open and services will continue as usual in the UK, Europe, and enterprise channels.
South Korea Leveraged ETF Volume Falls Below 10T Won Before New Rules
Trading volume for 16 South Korean single-stock leveraged and inverse ETFs fell to 7.46 trillion won on Monday. The total was 27% lower than the previous trading day. New rules from July 31 will require some individual investors to maintain at least 30 million won in cash-based margin.
Tether's XAUt gold-backed token received Shariah certification from Amanah Advisors, while Tether's latest reserves report showed more than 707,000 troy ounces of gold worth over $3.3 billion backing the token as of March 31. The certification found that XAUt complies with key Islamic finance principles. Tether said the certification could support adoption in the Gulf Cooperation Council, South Asia and parts of Africa. RWA.xyz data shows XAUt's onchain asset value climbed from about $700 million in July 2025 to roughly $2.5 billion.
Uphold Cuts 17% of Global Workforce as Retail Crypto Activity Weakens
Uphold cut roughly 17% of its global workforce as the company reallocates resources toward its enterprise business. The cuts affected 85 permanent staff and contractors across multiple regions. Uphold said it is not closing offices and will keep serving U.K., European and enterprise customers as normal.
BitMEX Customers Sue to Recover 622 Bitcoin Before September Closure
BitMEX customers filed a proposed class action seeking the return of 622.66 Bitcoin tied to past liquidations. The complaint names BitMEX operator HDR Global Trading Limited, affiliated companies and several co-founders. BitMEX CEO Peter Wilkinson rejected the case as “spurious and opportunistic.”
Tesla stock fell nearly 18% over five sessions to $313.03, its steepest weekly loss since 2022. Two chart breakdowns now point to $296 as the next downside target.
Ondo Finance unveiled Ondo Network as a new execution network for faster self-custody trading and onchain payments. Ondo Finance said the network separates trade execution from validation and settlement.
Storj Files Chapter 11 and Weighs Equity Path for Token Holders
Storj Labs filed for voluntary Chapter 11 bankruptcy protection while saying Storj service will continue without expected customer interruptions. STORJ traded around $0.0608, down about 18.1% over the prior 24 hours, according to CoinGecko. Storj said any token holder equity mechanism would require court approval and formal disclosure.
MSX data shows US chip stocks declined, with the Philadelphia Semiconductor Index down approximately 5%. AMD fell over 8%, NVIDIA dropped more than 7%, and Intel declined nearly 4%.
Ondo Finance Launches Ondo Network to Replace Ondo Chain Roadmap
Ondo Finance launched Ondo Network as a new execution layer and called it an evolved version of Ondo Chain. Ondo said Ondo Network will no longer run in parallel with Ondo Chain. Asset transfers currently settle on Ethereum, and Ondo plans support for more public chains in the future.
Bitcoin ETFs Shed Over $475M, Ending Seven-Day Inflow Streak
Farside Investors data shows American Bitcoin ETFs had over $475 million redeemed on Thursday and Friday, ending a seven-day inflow streak. The funds had attracted $999.3 million from July 14-22, while Morgan Stanley’s Bitcoin Trust still took in nearly $9 million during the outflow period.
Zcash Ironwood Upgrade Goes Live Tomorrow With $1.89B Pool Lock
Zcash's Ironwood upgrade goes live at block 3,428,143 and locks a private pool holding 3.76 million ZEC worth about $1.89 billion. Holders can move funds out of that pool, but holders cannot move funds inside it. Node operators must install the Zcash Foundation's Zebra 6.0.0 release before Tuesday.
Micron stock gained 12% this week as record earnings, tight memory supply, and AI demand supported the rally. MU stock closed at $920.95 on July 24, down 6.99% from the previous close. Fiscal Q3 2026 revenue reached $41.5 billion, up 346% from a year earlier.
TD Cowen cut its split-adjusted price target for Bitcoin treasury company Nakamoto to $17 from $40. TD Cowen cited a weaker Bitcoin outlook and Nakamoto’s leveraged capital structure.
Senate Republicans Seek CLARITY Vote as Democrats Hold Key Support
U.S. Senate Republicans plan to pursue a procedural move this week to place the CLARITY Act on the formal Senate agenda. The procedural vote requires support from 60 senators. Democratic cooperation remains the key variable after seven Democratic senators criticized the latest version of the bill.
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