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Strategy sells MSTR shares, buys back $25M in STRC preferred stockStrategy, the business intelligence firm that has built the largest corporate Bitcoin treasury, continued adjusting its capital structure last week through a combination of stock sales and preferred share repurchases.
Strategy sold 5,429,160 shares of its Class A common stock (MSTR) through its at-the-market (ATM) offering program between July 20 and July 26, generating $544.5 million in net proceeds.
The MSTR share price was up more than 2% in Monday’s premarket activity, according to Yahoo Finance. The STRC preferred shares were up 2.3% to $88.90 ahead of the Nasdaq open.
The company also repurchased 288,930 shares of its STRC preferred stock for $25 million, according to a Form 8-K filed with the US Securities and Exchange Commission on Monday.
The update comes after Strategy executive chairman Michael Saylor sparked speculation on Sunday with his “We’re gonna need another color” post on X, which some market observers interpreted as a hint at a new move involving the company’s preferred stock strategy.
Source: Michael Saylor on X.com
Stock sales boost dollar reserve $3.75B
Following additional capital raised through its ATM stock offering program, Strategy increased its US dollar reserve to $3.75 billion as of July 26, up from $3.225 billion the previous week.
However, Strategy reported no Bitcoin purchases or sales during the July 20-26 period, leaving its holdings unchanged at 843,775 BTC, acquired at an average purchase price of $75,476 per Bitcoin, or $63.69 billion in aggregate. The biggest crypto was last trading hands at roughly $64,971 at time of publication.
Strategy’s growing cash reserve highlights management’s efforts to maintain liquidity as it expands its capital markets activity through common stock offerings and preferred stock instruments. The reserve is intended to support dividend payments on preferred stock and interest payments on the company’s outstanding debt.
Saylor sparks debate over BTC future role for banks
The update came shortly after Saylor reignited a debate over whether banks have a place in Bitcoin’s future after arguing that the crypto asset’s growth depends on integration with traditional financial institutions.
Saylor wrote on X on Sunday that rejecting Bitcoin’s links to financial infrastructure would deny access to most potential users. His comments drew criticism from some BTC supporters, who contend that greater involvement from banks conflicts with the network’s original goal of enabling transactions without intermediaries.
Several users pushed back against Saylor’s argument by citing Bitcoin’s white paper, which introduced the asset as a peer-to-peer electronic cash system designed to remove the need for financial institutions. The exchange highlighted a growing divide between advocates who view banks as necessary gateways for mainstream adoption and those who see them as a threat to Bitcoin’s decentralized foundation.
Magazine: Strategy became a symbol of the dot-com crash: Could history repeat?
Strategy sells MSTR shares, buys back $25M in STRC preferred stock
Strategy, the business intelligence firm that has built the largest corporate Bitcoin treasury, continued adjusting its capital structure last week through a combination of stock sales and preferred share repurchases.
Strategy sold 5,429,160 shares of its Class A common stock (MSTR) through its at-the-market (ATM) offering program between July 20 and July 26, generating $544.5 million in net proceeds.
The MSTR share price was up more than 2% in Monday’s premarket activity, according to Yahoo Finance. The STRC preferred shares were up 2.3% to $88.90 ahead of the Nasdaq open.
The company also repurchased 288,930 shares of its STRC preferred stock for $25 million, according to a Form 8-K filed with the US Securities and Exchange Commission on Monday.
The update comes after Strategy executive chairman Michael Saylor sparked speculation on Sunday with his “We’re gonna need another color” post on X, which some market observers interpreted as a hint at a new move involving the company’s preferred stock strategy.
Source: Michael Saylor on X.com
Stock sales boost dollar reserve $3.75B
Following additional capital raised through its ATM stock offering program, Strategy increased its US dollar reserve to $3.75 billion as of July 26, up from $3.225 billion the previous week.
However, Strategy reported no Bitcoin purchases or sales during the July 20-26 period, leaving its holdings unchanged at 843,775 BTC, acquired at an average purchase price of $75,476 per Bitcoin, or $63.69 billion in aggregate. The biggest crypto was last trading hands at roughly $64,971 at time of publication.
Strategy’s growing cash reserve highlights management’s efforts to maintain liquidity as it expands its capital markets activity through common stock offerings and preferred stock instruments. The reserve is intended to support dividend payments on preferred stock and interest payments on the company’s outstanding debt.
Saylor sparks debate over BTC future role for banks
The update came shortly after Saylor reignited a debate over whether banks have a place in Bitcoin’s future after arguing that the crypto asset’s growth depends on integration with traditional financial institutions.
Saylor wrote on X on Sunday that rejecting Bitcoin’s links to financial infrastructure would deny access to most potential users. His comments drew criticism from some BTC supporters, who contend that greater involvement from banks conflicts with the network’s original goal of enabling transactions without intermediaries.
Several users pushed back against Saylor’s argument by citing Bitcoin’s white paper, which introduced the asset as a peer-to-peer electronic cash system designed to remove the need for financial institutions. The exchange highlighted a growing divide between advocates who view banks as necessary gateways for mainstream adoption and those who see them as a threat to Bitcoin’s decentralized foundation.
Magazine: Strategy became a symbol of the dot-com crash: Could history repeat?
Strategy sold 5,429,160 shares of its Class A common stock (MSTR) through its at-the-market (ATM) offering program between July 20 and July 26, generating $544.5 million in net proceeds.
The MSTR share price was up more than 2% in Monday’s premarket activity, according to Yahoo Finance. The STRC preferred shares were up 2.3% to $88.90 ahead of the Nasdaq open.
The company also repurchased 288,930 shares of its STRC preferred stock for $25 million, according to a Form 8-K filed with the US Securities and Exchange Commission on Monday.
The update comes after Strategy executive chairman Michael Saylor sparked speculation on Sunday with his “We’re gonna need another color” post on X, which some market observers interpreted as a hint at a new move involving the company’s preferred stock strategy.
Source: Michael Saylor on X.com
Stock sales boost dollar reserve $3.75B
Following additional capital raised through its ATM stock offering program, Strategy increased its US dollar reserve to $3.75 billion as of July 26, up from $3.225 billion the previous week.
However, Strategy reported no Bitcoin purchases or sales during the July 20-26 period, leaving its holdings unchanged at 843,775 BTC, acquired at an average purchase price of $75,476 per Bitcoin, or $63.69 billion in aggregate. The biggest crypto was last trading hands at roughly $64,971 at time of publication.
Strategy’s growing cash reserve highlights management’s efforts to maintain liquidity as it expands its capital markets activity through common stock offerings and preferred stock instruments. The reserve is intended to support dividend payments on preferred stock and interest payments on the company’s outstanding debt.
Saylor sparks debate over BTC future role for banks
The update came shortly after Saylor reignited a debate over whether banks have a place in Bitcoin’s future after arguing that the crypto asset’s growth depends on integration with traditional financial institutions.
Saylor wrote on X on Sunday that rejecting Bitcoin’s links to financial infrastructure would deny access to most potential users. His comments drew criticism from some BTC supporters, who contend that greater involvement from banks conflicts with the network’s original goal of enabling transactions without intermediaries.
Several users pushed back against Saylor’s argument by citing Bitcoin’s white paper, which introduced the asset as a peer-to-peer electronic cash system designed to remove the need for financial institutions. The exchange highlighted a growing divide between advocates who view banks as necessary gateways for mainstream adoption and those who see them as a threat to Bitcoin’s decentralized foundation.
Magazine: Strategy became a symbol of the dot-com crash: Could history repeat?
18
Article
BNY Mellon unit joins MiCA register as ESMA adds 15 providersEuropean authorities added 15 crypto companies including a BNY Mellon unit to the Markets in Crypto-Assets (MiCA) framework register in the third update of regulated providers since the July 1 transitional deadline.
With the European Securities and Markets Authority’s (ESMA) update on Friday, its interim MiCA register shows 309 licensed crypto-asset service providers (CASPs).
The latest entries include four banking institutions, including BNY SA/NV, the Belgian subsidiary of US banking giant BNY Mellon, and three German banks, alongside digital asset platforms such as BitPay, Coinify and Bleap.
The update comes as regulators continue building out the MiCA framework, which introduced the European Union’s first unified rules for crypto service providers and aims to bring more oversight to the sector.
Germany and Denmark lead latest CASP additions
Germany and Denmark accounted for the largest number of the latest additions, with three new CASPs registered in each country. Bulgaria and Latvia followed with two additions each, while Belgium, Cyprus, Liechtenstein and the Netherlands each added one provider.
The German additions included cooperative financial societies Spar-und Kreditbank Rheinstetten and VR-Bank Augsburg-Ostallgäu, along with Raiffeisenbank Falkenstein-Wörth.
15 new CASPs in the MiCA register update on Thursday. Source: ESMA
Other newly listed providers include: Bulgaria’s Altcoins BG and Digital Assist; Denmark’s SafeLynx Technologies and Januar, a digital asset infrastructure company; and, Latvia-registered providers Bleap and Nodu Digital.
MiCA expansion continues after July deadline
The latest update follows ESMA’s previous register additions after the July 1 deadline, including 14 CASPs added in the regulator’s second post-deadline update, which included major industry companies such as Ripple Payments Europe.
While the CASP roster expanded, ESMA reported no changes to other MiCA-related registers in the latest update, including authorized issuers of asset-referenced tokens (ARTs), e-money tokens (EMTs), and crypto assets, as well as non-compliant entities.
The continued updates show that MiCA implementation remains an evolving process, with regulators still adding authorized providers as companies complete licensing procedures across European markets.
At the same time, some industry executives warn that the cost of maintaining a MiCA license could push smaller firms out of the market, with Gate Europe CEO Giovanni Cunti saying some licensed companies may struggle to sustain the compliance resources required over the long term.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
BNY Mellon unit joins MiCA register as ESMA adds 15 providers
European authorities added 15 crypto companies including a BNY Mellon unit to the Markets in Crypto-Assets (MiCA) framework register in the third update of regulated providers since the July 1 transitional deadline.
With the European Securities and Markets Authority’s (ESMA) update on Friday, its interim MiCA register shows 309 licensed crypto-asset service providers (CASPs).
The latest entries include four banking institutions, including BNY SA/NV, the Belgian subsidiary of US banking giant BNY Mellon, and three German banks, alongside digital asset platforms such as BitPay, Coinify and Bleap.
The update comes as regulators continue building out the MiCA framework, which introduced the European Union’s first unified rules for crypto service providers and aims to bring more oversight to the sector.
Germany and Denmark lead latest CASP additions
Germany and Denmark accounted for the largest number of the latest additions, with three new CASPs registered in each country. Bulgaria and Latvia followed with two additions each, while Belgium, Cyprus, Liechtenstein and the Netherlands each added one provider.
The German additions included cooperative financial societies Spar-und Kreditbank Rheinstetten and VR-Bank Augsburg-Ostallgäu, along with Raiffeisenbank Falkenstein-Wörth.
15 new CASPs in the MiCA register update on Thursday. Source: ESMA
Other newly listed providers include: Bulgaria’s Altcoins BG and Digital Assist; Denmark’s SafeLynx Technologies and Januar, a digital asset infrastructure company; and, Latvia-registered providers Bleap and Nodu Digital.
MiCA expansion continues after July deadline
The latest update follows ESMA’s previous register additions after the July 1 deadline, including 14 CASPs added in the regulator’s second post-deadline update, which included major industry companies such as Ripple Payments Europe.
While the CASP roster expanded, ESMA reported no changes to other MiCA-related registers in the latest update, including authorized issuers of asset-referenced tokens (ARTs), e-money tokens (EMTs), and crypto assets, as well as non-compliant entities.
The continued updates show that MiCA implementation remains an evolving process, with regulators still adding authorized providers as companies complete licensing procedures across European markets.
At the same time, some industry executives warn that the cost of maintaining a MiCA license could push smaller firms out of the market, with Gate Europe CEO Giovanni Cunti saying some licensed companies may struggle to sustain the compliance resources required over the long term.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
With the European Securities and Markets Authority’s (ESMA) update on Friday, its interim MiCA register shows 309 licensed crypto-asset service providers (CASPs).
The latest entries include four banking institutions, including BNY SA/NV, the Belgian subsidiary of US banking giant BNY Mellon, and three German banks, alongside digital asset platforms such as BitPay, Coinify and Bleap.
The update comes as regulators continue building out the MiCA framework, which introduced the European Union’s first unified rules for crypto service providers and aims to bring more oversight to the sector.
Germany and Denmark lead latest CASP additions
Germany and Denmark accounted for the largest number of the latest additions, with three new CASPs registered in each country. Bulgaria and Latvia followed with two additions each, while Belgium, Cyprus, Liechtenstein and the Netherlands each added one provider.
The German additions included cooperative financial societies Spar-und Kreditbank Rheinstetten and VR-Bank Augsburg-Ostallgäu, along with Raiffeisenbank Falkenstein-Wörth.
15 new CASPs in the MiCA register update on Thursday. Source: ESMA
Other newly listed providers include: Bulgaria’s Altcoins BG and Digital Assist; Denmark’s SafeLynx Technologies and Januar, a digital asset infrastructure company; and, Latvia-registered providers Bleap and Nodu Digital.
MiCA expansion continues after July deadline
The latest update follows ESMA’s previous register additions after the July 1 deadline, including 14 CASPs added in the regulator’s second post-deadline update, which included major industry companies such as Ripple Payments Europe.
While the CASP roster expanded, ESMA reported no changes to other MiCA-related registers in the latest update, including authorized issuers of asset-referenced tokens (ARTs), e-money tokens (EMTs), and crypto assets, as well as non-compliant entities.
The continued updates show that MiCA implementation remains an evolving process, with regulators still adding authorized providers as companies complete licensing procedures across European markets.
At the same time, some industry executives warn that the cost of maintaining a MiCA license could push smaller firms out of the market, with Gate Europe CEO Giovanni Cunti saying some licensed companies may struggle to sustain the compliance resources required over the long term.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
83
Brazilian police bust cocaine traffickers in crypto-linked transnational probeThe Brazilian Federal Police last week busted an alleged international drug cartel thought to have trafficked around 6.5 metric tons of cocaine and laundered billions of reals in proceeds via methods that included crypto-enabled illicit money brokers.
According to a July 23 announcement, federal and state law enforcement arrested nine people and executed 13 pretrial detention warrants and 44 search-and-seizure warrants across São Paulo, Minas Gerais, Santa Catarina and Espírito Santo.
The organization is suspected of moving billions in Brazilian reals through various asset-concealment methods, including shell companies, crypto-enabled illicit money brokers, luxury assets and real estate. The suspects will face charges including participation in a transnational criminal organization, international drug trafficking and money laundering.
The report follows the US Department of the Treasury’s Office of Foreign Assets Control sanctioning six Ethereum addresses tied to a Sinaloa Cartel-linked money laundering network that allegedly converted drug proceeds into cryptocurrency in May.
Brazilian police bust cocaine traffickers in crypto-linked transnational probe
The Brazilian Federal Police last week busted an alleged international drug cartel thought to have trafficked around 6.5 metric tons of cocaine and laundered billions of reals in proceeds via methods that included crypto-enabled illicit money brokers.
According to a July 23 announcement, federal and state law enforcement arrested nine people and executed 13 pretrial detention warrants and 44 search-and-seizure warrants across São Paulo, Minas Gerais, Santa Catarina and Espírito Santo.
The organization is suspected of moving billions in Brazilian reals through various asset-concealment methods, including shell companies, crypto-enabled illicit money brokers, luxury assets and real estate. The suspects will face charges including participation in a transnational criminal organization, international drug trafficking and money laundering.
The report follows the US Department of the Treasury’s Office of Foreign Assets Control sanctioning six Ethereum addresses tied to a Sinaloa Cartel-linked money laundering network that allegedly converted drug proceeds into cryptocurrency in May.
According to a July 23 announcement, federal and state law enforcement arrested nine people and executed 13 pretrial detention warrants and 44 search-and-seizure warrants across São Paulo, Minas Gerais, Santa Catarina and Espírito Santo.
The organization is suspected of moving billions in Brazilian reals through various asset-concealment methods, including shell companies, crypto-enabled illicit money brokers, luxury assets and real estate. The suspects will face charges including participation in a transnational criminal organization, international drug trafficking and money laundering.
The report follows the US Department of the Treasury’s Office of Foreign Assets Control sanctioning six Ethereum addresses tied to a Sinaloa Cartel-linked money laundering network that allegedly converted drug proceeds into cryptocurrency in May.
76
Article
CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest, July 26CLARITY may get a vote, but don’t get your hopes up yet
Despite wealthy memecoin entrepreneur President Donald Trump agreeing to an ethics deal, the Clarity Act (CLARITY) is floundering as the August recess deadline looms.
Senate Majority Leader John Thune said he doesn’t believe the act has the votes to pass just yet, but may bring it to a vote anyway to “get Clarity started. We’ll see where the votes are.”
The ethics deal would prohibit all US officials from issuing or sponsoring digital assets, but contains some “get out of jail free” provisions for the President that the Democrats are unhappy with, including the fact the rules expire the day he is scheduled to leave office in 2029.
The ethics provisions will also be enforced by the Attorney General that Trump appointed. The Democrats instead want state Attorney Generals to enforce it — but Trump seems unlikely to agree to empower dozens of state AGs to attempt to prosecute him.
The White House described the bill as the “most comprehensive and wide-ranging ethics provision in history,” while Democratic Senator Ruben Gallego described it as a “piece of s---” and “not a serious effort.”
Negotiations are continuing to find a deal both sides can live with, but given the lack of trust, it’s not going to be easy to find a compromise.
Goldman Sachs CEO David Solomon conceded the bill is “not perfect” but has supported it anyway, along with Fidelity and Charles Schwab who represent many trillions in assets under management each.
Law enforcement organizations have also begun to signal support, with The National Fraternal Order of Police representing hundreds of thousands of members, stating the latest version of the BRCA (which protects developers of decentralized protocols) would not impede investigations into money laundering and fraud.
The odds of the bill passing this year are at 38% on Polymarket.
BitMEX to shut down after 11 years as class action launched against it
BitMEX, one of the pioneers of cryptocurrency derivatives trading, announced it will shut down operations in September after 11 years.
BitMEX launched in 2014 and became known for introducing the 100x leverage perpetual swaps.
In recent years volumes have tanked increased competition from major exchanges like Binance and decentralized protocols like Hyperliquid.
CryptoQuant CEO Ki Young Ju said BitMEX’s share of the Bitcoin futures market has fallen to just 0.08%, with roughly $84 million in daily trading volume.
“It was a great exchange that helped shape the industry, and now it is passing the torch to the next generation of exchanges it inspired,” Ju said.
BitMEX’s utility token BMEX collapsed in value after the announcement. That same day, news emerged of a class action lawsuit accusing the crypto derivatives platform of fraudulently engineering customer liquidations to seize traders’ collateral. BitMEX denied the allegations and said it had successfully defended itself against similar claims in the past.
Restructuring adviser Roshan Dharia told Cointelegraph the exchange’s demise shows the industry is consolidating.
The top five platforms now control an estimated 80% of global spot volume, leaving mid-tier and regional exchanges with shrinking margins and no viable path to scale... The headwinds are structural, not cyclical.
As if to undescore the point, BitMart subsequently announced it would also close in the coming months.
S&P launches blockchain fundamentals index for digital assets
S&P Dow Jones Indices and Pantera Capital have launched a digital asset index that tracks the major crypto assets — but doesn’t include Bitcoin or XRP.
The S&P Pantera Digital Asset Index is designed to be the benchmark crypto index for institutions, but it screens out blockchains based on minimum thresholds for protocol revenue, market capitalization and liquidity.
The index launched with 18 constituents, with Ether (ETH), BNB (BNB), Solana (SOL), TRON (TRX) and Hyperliquid (HYPE) as its five largest holdings, while Bitcoin (BTC) and XRP (XRP) are the largest non-constituents.
The latest index follows a broader industry push to develop institutional-grade benchmarks for digital assets, with similar products including the Nasdaq Crypto Index US ETF, the Franklin Crypto Index ETF and the the Coinbase Store of Value Index among others.
Robinhood to expand prediction markets as CFTC issues new warning
Robinhood is reportedly discussing plans to expand its existing prediction markets offerings with crypto exchange Crypto.com.
According the Wall Street Journal the talks involve integrating yes-or-no event contracts supplied by Crypto.com. Robinhood launched its prediction markets in March 2025, initially facilitated by Kalshi in order to comply with regulatory requirements from the US Commodity Futures Trading Commission (CFTC).
Bernstein analysts last week raised its price target on Robinhood (HOOD) stock to $160 from $130 per share, based on the company’s outlook for prediction markets and tokenized equities.
Meanwhile the CFTC, which aims to become the primary regulator of prediction markets, issued a shot across the bow of providers last week, telling platforms they need to get a lot more specific about event contracts certifications.
The advisory addresses concerns about the practice of submitting broad, template-style certifications that combine many potential event contract variations into a single certification.
Carl Kennedy, a partner at New York law firm Katten Muchin, also told a House Agriculture Committee hearing last week, that the CLARITY Act could help the CFTC’s efforts to oversee the “explosive growth of prediction markets.”
Balaji’s Network School turns to Kazakhstan amid Malaysia setback
Balaji Srinivasan’s Network School, a community of “digital nomads,” is eyeing a new campus in Kazakhstan after its Forest City campus had its business license in Malaysia revoked over alleged premises-use violations.
A memorandum of understanding was signed between Kazakhstan’s relevant Minister Zhaslan Madiyev and Srinivasan to establish the first Network School campus in the country, which aims to become a digital hub.
The school was forced out of Johor in Malaysia, following a controversy in Malaysia over allowing Israeli dual citizens to attend. The Muslim majority country has no diplomatic relations with Israel. Despite an investigation finding no visa violations, the Network School was ordered to shut down on another pretext.
Dragonfly Capital managing partner Haseeb Qureshi said the drama has validated Balaji’s Network State thesis.
“The whole idea of a network state is taking a dense group of talent and capital, and collectively negotiating with states. The Malaysia drama set up Balaji to negotiate better terms with another state to copy and paste the network there.“
Winners and losers
At the end of the week, Bitcoin (BTC) is at $65,395, Ether (ETH) is at $1,958, and XRP (XRP) is at $1.11. The total market cap is at $2.24 trillion according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin winners of the week are Audiera (BEAT), which gained 53%, Shinba Inu (SHIB) with a 29% gain, and Venice Token (VVV), which increased 19%.
The top three altcoin losers of the week are DeXe (DEXE), which lost 89%, Midnight (NIGHT), which fell 26%, and Pyth Network (PYTH), which dropped 10%.
Prediction of the Week
Bitcoin will get ‘lift’ from Hyperliquid, Robinhood in next crypto bull market
Bitcoin (BTC) is “finally showing signs of a bottom,” according to Matt Hougan, chief investment officer at Bitwise.
Houghan predicts that TradFi integrations, particularly Hyperliquid and Robinhood, will drive the next crypto bull market, and the resulting tide should “lift” the largest cryptocurrencies including Bitcoin and Ether.
Houghan believes crypto is bringing major benefits like 24/7 trading to traditional markets, and noted that today “nearly half the volume on Hyperliquid is in conventional assets like oil, silver, and the S&P 500 [and] it’s expanding into spot commodities, prediction markets, and options,”
Bitwise data also suggests apparent demand for BTC is showing signs of reversal. The metric measures the difference between newly-mined BTC and the supply inactive for at least one year.
Source: Matt Hougan
Top FUD of the Week
Home invasions became most common crypto wrench attack in H1 2026: CertiK
Home invasions became the most common form of crypto wrench attacks during the first half of 2026, rising to 20 publicly reported incidents from just one a year earlier, according to blockchain security firm CertiK.
On Thursday, CertiK said it verified 52 wrench attacks worldwide in the first half of 2026, up 33.3% from 39 incidents during the same period in 2025. Kidnappings rose to 16 from 12, while robberies declined from five incidents to one.
CertiK said the recorded financial exposure linked to the attacks reached about $124.1 million, up from $10.5 million a year earlier.
The increase in home invasions suggests criminals are increasingly bypassing digital safeguards by physically coercing crypto holders and their families.
Hackers steal $31.6M in 2 crypto bridge attacks within 7 hours
Hackers stole more than $31.6 million across two unrelated crypto bridge exploits spaced just hours apart, targeting bridges operated by decentralized perpetual exchange AFX and Verus Protocol.
According to Blockaid, AFX, a decentralized perpetual exchange operating on Arbitrum, reportedly lost $24.15 million on Wednesday through a hack targeting one of its cross-chain bridges. Hours later, Blockaid said it detected an exploit targeting the Verus Ethereum Bridge that resulted in about $7.5 million in crypto being stolen.
“Another bridge, another exploit. Bridges will always be a weak link, until security is upgraded,” onchain investigator TheCrypticWolf said in a post on X.
Ethereum ETFs close week in red, end 5-day inflow streak
US-listed spot Ethereum exchange-traded funds (ETFs) logged $70.62 million in net outflows on Friday, ending a five-day inflow streak.
Ethereum funds saw $211.25 million in net inflows over the previous five sessions from July 17, according to SoSoValue data. They still posted $103.9 million in net inflows for the week ended Friday.
Despite the outflows, Ethereum ETFs extended their weekly inflow streak to three straight and have attracted $337.74 million in net inflows so far in July.
The Bitcoin ETFs reversed gains made earlier in the week to end up with $33.9 million of inflows.
Top Magazine Stories of the Week
Here’s why the CLARITY Act’s ethics deal may be so hard to reach
Both parties say they want US crypto market structure legislation, but a dispute over ethics rules and who enforces them is becoming the bill’s biggest obstacle.
A quantum roadmap would push Bitcoin much higher: Charles Edwards
A Bitcoin development roadmap that addresses quantum computing risks could see the price surge by “double digits” very quickly, according to Charles Edwards.
Fears of AI-driven DeFi hack epidemic overstated for now — but not for long
Are the fears of an AI driven hacking epidemic totally overblown, or is this just the lull before the storm?
CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest, July 26
CLARITY may get a vote, but don’t get your hopes up yet
Despite wealthy memecoin entrepreneur President Donald Trump agreeing to an ethics deal, the Clarity Act (CLARITY) is floundering as the August recess deadline looms.
Senate Majority Leader John Thune said he doesn’t believe the act has the votes to pass just yet, but may bring it to a vote anyway to “get Clarity started. We’ll see where the votes are.”
The ethics deal would prohibit all US officials from issuing or sponsoring digital assets, but contains some “get out of jail free” provisions for the President that the Democrats are unhappy with, including the fact the rules expire the day he is scheduled to leave office in 2029.
The ethics provisions will also be enforced by the Attorney General that Trump appointed. The Democrats instead want state Attorney Generals to enforce it — but Trump seems unlikely to agree to empower dozens of state AGs to attempt to prosecute him.
The White House described the bill as the “most comprehensive and wide-ranging ethics provision in history,” while Democratic Senator Ruben Gallego described it as a “piece of s---” and “not a serious effort.”
Negotiations are continuing to find a deal both sides can live with, but given the lack of trust, it’s not going to be easy to find a compromise.
Goldman Sachs CEO David Solomon conceded the bill is “not perfect” but has supported it anyway, along with Fidelity and Charles Schwab who represent many trillions in assets under management each.
Law enforcement organizations have also begun to signal support, with The National Fraternal Order of Police representing hundreds of thousands of members, stating the latest version of the BRCA (which protects developers of decentralized protocols) would not impede investigations into money laundering and fraud.
The odds of the bill passing this year are at 38% on Polymarket.
BitMEX to shut down after 11 years as class action launched against it
BitMEX, one of the pioneers of cryptocurrency derivatives trading, announced it will shut down operations in September after 11 years.
BitMEX launched in 2014 and became known for introducing the 100x leverage perpetual swaps.
In recent years volumes have tanked increased competition from major exchanges like Binance and decentralized protocols like Hyperliquid.
CryptoQuant CEO Ki Young Ju said BitMEX’s share of the Bitcoin futures market has fallen to just 0.08%, with roughly $84 million in daily trading volume.
“It was a great exchange that helped shape the industry, and now it is passing the torch to the next generation of exchanges it inspired,” Ju said.
BitMEX’s utility token BMEX collapsed in value after the announcement. That same day, news emerged of a class action lawsuit accusing the crypto derivatives platform of fraudulently engineering customer liquidations to seize traders’ collateral. BitMEX denied the allegations and said it had successfully defended itself against similar claims in the past.
Restructuring adviser Roshan Dharia told Cointelegraph the exchange’s demise shows the industry is consolidating.
The top five platforms now control an estimated 80% of global spot volume, leaving mid-tier and regional exchanges with shrinking margins and no viable path to scale... The headwinds are structural, not cyclical.
As if to undescore the point, BitMart subsequently announced it would also close in the coming months.
S&P launches blockchain fundamentals index for digital assets
S&P Dow Jones Indices and Pantera Capital have launched a digital asset index that tracks the major crypto assets — but doesn’t include Bitcoin or XRP.
The S&P Pantera Digital Asset Index is designed to be the benchmark crypto index for institutions, but it screens out blockchains based on minimum thresholds for protocol revenue, market capitalization and liquidity.
The index launched with 18 constituents, with Ether (ETH), BNB (BNB), Solana (SOL), TRON (TRX) and Hyperliquid (HYPE) as its five largest holdings, while Bitcoin (BTC) and XRP (XRP) are the largest non-constituents.
The latest index follows a broader industry push to develop institutional-grade benchmarks for digital assets, with similar products including the Nasdaq Crypto Index US ETF, the Franklin Crypto Index ETF and the the Coinbase Store of Value Index among others.
Robinhood to expand prediction markets as CFTC issues new warning
Robinhood is reportedly discussing plans to expand its existing prediction markets offerings with crypto exchange Crypto.com.
According the Wall Street Journal the talks involve integrating yes-or-no event contracts supplied by Crypto.com. Robinhood launched its prediction markets in March 2025, initially facilitated by Kalshi in order to comply with regulatory requirements from the US Commodity Futures Trading Commission (CFTC).
Bernstein analysts last week raised its price target on Robinhood (HOOD) stock to $160 from $130 per share, based on the company’s outlook for prediction markets and tokenized equities.
Meanwhile the CFTC, which aims to become the primary regulator of prediction markets, issued a shot across the bow of providers last week, telling platforms they need to get a lot more specific about event contracts certifications.
The advisory addresses concerns about the practice of submitting broad, template-style certifications that combine many potential event contract variations into a single certification.
Carl Kennedy, a partner at New York law firm Katten Muchin, also told a House Agriculture Committee hearing last week, that the CLARITY Act could help the CFTC’s efforts to oversee the “explosive growth of prediction markets.”
Balaji’s Network School turns to Kazakhstan amid Malaysia setback
Balaji Srinivasan’s Network School, a community of “digital nomads,” is eyeing a new campus in Kazakhstan after its Forest City campus had its business license in Malaysia revoked over alleged premises-use violations.
A memorandum of understanding was signed between Kazakhstan’s relevant Minister Zhaslan Madiyev and Srinivasan to establish the first Network School campus in the country, which aims to become a digital hub.
The school was forced out of Johor in Malaysia, following a controversy in Malaysia over allowing Israeli dual citizens to attend. The Muslim majority country has no diplomatic relations with Israel. Despite an investigation finding no visa violations, the Network School was ordered to shut down on another pretext.
Dragonfly Capital managing partner Haseeb Qureshi said the drama has validated Balaji’s Network State thesis.
“The whole idea of a network state is taking a dense group of talent and capital, and collectively negotiating with states. The Malaysia drama set up Balaji to negotiate better terms with another state to copy and paste the network there.“
Winners and losers
At the end of the week, Bitcoin (BTC) is at $65,395, Ether (ETH) is at $1,958, and XRP (XRP) is at $1.11. The total market cap is at $2.24 trillion according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin winners of the week are Audiera (BEAT), which gained 53%, Shinba Inu (SHIB) with a 29% gain, and Venice Token (VVV), which increased 19%.
The top three altcoin losers of the week are DeXe (DEXE), which lost 89%, Midnight (NIGHT), which fell 26%, and Pyth Network (PYTH), which dropped 10%.
Prediction of the Week
Bitcoin will get ‘lift’ from Hyperliquid, Robinhood in next crypto bull market
Bitcoin (BTC) is “finally showing signs of a bottom,” according to Matt Hougan, chief investment officer at Bitwise.
Houghan predicts that TradFi integrations, particularly Hyperliquid and Robinhood, will drive the next crypto bull market, and the resulting tide should “lift” the largest cryptocurrencies including Bitcoin and Ether.
Houghan believes crypto is bringing major benefits like 24/7 trading to traditional markets, and noted that today “nearly half the volume on Hyperliquid is in conventional assets like oil, silver, and the S&P 500 [and] it’s expanding into spot commodities, prediction markets, and options,”
Bitwise data also suggests apparent demand for BTC is showing signs of reversal. The metric measures the difference between newly-mined BTC and the supply inactive for at least one year.
Source: Matt Hougan
Top FUD of the Week
Home invasions became most common crypto wrench attack in H1 2026: CertiK
Home invasions became the most common form of crypto wrench attacks during the first half of 2026, rising to 20 publicly reported incidents from just one a year earlier, according to blockchain security firm CertiK.
On Thursday, CertiK said it verified 52 wrench attacks worldwide in the first half of 2026, up 33.3% from 39 incidents during the same period in 2025. Kidnappings rose to 16 from 12, while robberies declined from five incidents to one.
CertiK said the recorded financial exposure linked to the attacks reached about $124.1 million, up from $10.5 million a year earlier.
The increase in home invasions suggests criminals are increasingly bypassing digital safeguards by physically coercing crypto holders and their families.
Hackers steal $31.6M in 2 crypto bridge attacks within 7 hours
Hackers stole more than $31.6 million across two unrelated crypto bridge exploits spaced just hours apart, targeting bridges operated by decentralized perpetual exchange AFX and Verus Protocol.
According to Blockaid, AFX, a decentralized perpetual exchange operating on Arbitrum, reportedly lost $24.15 million on Wednesday through a hack targeting one of its cross-chain bridges. Hours later, Blockaid said it detected an exploit targeting the Verus Ethereum Bridge that resulted in about $7.5 million in crypto being stolen.
“Another bridge, another exploit. Bridges will always be a weak link, until security is upgraded,” onchain investigator TheCrypticWolf said in a post on X.
Ethereum ETFs close week in red, end 5-day inflow streak
US-listed spot Ethereum exchange-traded funds (ETFs) logged $70.62 million in net outflows on Friday, ending a five-day inflow streak.
Ethereum funds saw $211.25 million in net inflows over the previous five sessions from July 17, according to SoSoValue data. They still posted $103.9 million in net inflows for the week ended Friday.
Despite the outflows, Ethereum ETFs extended their weekly inflow streak to three straight and have attracted $337.74 million in net inflows so far in July.
The Bitcoin ETFs reversed gains made earlier in the week to end up with $33.9 million of inflows.
Top Magazine Stories of the Week
Here’s why the CLARITY Act’s ethics deal may be so hard to reach
Both parties say they want US crypto market structure legislation, but a dispute over ethics rules and who enforces them is becoming the bill’s biggest obstacle.
A quantum roadmap would push Bitcoin much higher: Charles Edwards
A Bitcoin development roadmap that addresses quantum computing risks could see the price surge by “double digits” very quickly, according to Charles Edwards.
Fears of AI-driven DeFi hack epidemic overstated for now — but not for long
Are the fears of an AI driven hacking epidemic totally overblown, or is this just the lull before the storm?
Despite wealthy memecoin entrepreneur President Donald Trump agreeing to an ethics deal, the Clarity Act (CLARITY) is floundering as the August recess deadline looms.
Senate Majority Leader John Thune said he doesn’t believe the act has the votes to pass just yet, but may bring it to a vote anyway to “get Clarity started. We’ll see where the votes are.”
The ethics deal would prohibit all US officials from issuing or sponsoring digital assets, but contains some “get out of jail free” provisions for the President that the Democrats are unhappy with, including the fact the rules expire the day he is scheduled to leave office in 2029.
The ethics provisions will also be enforced by the Attorney General that Trump appointed. The Democrats instead want state Attorney Generals to enforce it — but Trump seems unlikely to agree to empower dozens of state AGs to attempt to prosecute him.
The White House described the bill as the “most comprehensive and wide-ranging ethics provision in history,” while Democratic Senator Ruben Gallego described it as a “piece of s---” and “not a serious effort.”
Negotiations are continuing to find a deal both sides can live with, but given the lack of trust, it’s not going to be easy to find a compromise.
Goldman Sachs CEO David Solomon conceded the bill is “not perfect” but has supported it anyway, along with Fidelity and Charles Schwab who represent many trillions in assets under management each.
Law enforcement organizations have also begun to signal support, with The National Fraternal Order of Police representing hundreds of thousands of members, stating the latest version of the BRCA (which protects developers of decentralized protocols) would not impede investigations into money laundering and fraud.
The odds of the bill passing this year are at 38% on Polymarket.
BitMEX to shut down after 11 years as class action launched against it
BitMEX, one of the pioneers of cryptocurrency derivatives trading, announced it will shut down operations in September after 11 years.
BitMEX launched in 2014 and became known for introducing the 100x leverage perpetual swaps.
In recent years volumes have tanked increased competition from major exchanges like Binance and decentralized protocols like Hyperliquid.
CryptoQuant CEO Ki Young Ju said BitMEX’s share of the Bitcoin futures market has fallen to just 0.08%, with roughly $84 million in daily trading volume.
“It was a great exchange that helped shape the industry, and now it is passing the torch to the next generation of exchanges it inspired,” Ju said.
BitMEX’s utility token BMEX collapsed in value after the announcement. That same day, news emerged of a class action lawsuit accusing the crypto derivatives platform of fraudulently engineering customer liquidations to seize traders’ collateral. BitMEX denied the allegations and said it had successfully defended itself against similar claims in the past.
Restructuring adviser Roshan Dharia told Cointelegraph the exchange’s demise shows the industry is consolidating.
The top five platforms now control an estimated 80% of global spot volume, leaving mid-tier and regional exchanges with shrinking margins and no viable path to scale... The headwinds are structural, not cyclical.
As if to undescore the point, BitMart subsequently announced it would also close in the coming months.
S&P launches blockchain fundamentals index for digital assets
S&P Dow Jones Indices and Pantera Capital have launched a digital asset index that tracks the major crypto assets — but doesn’t include Bitcoin or XRP.
The S&P Pantera Digital Asset Index is designed to be the benchmark crypto index for institutions, but it screens out blockchains based on minimum thresholds for protocol revenue, market capitalization and liquidity.
The index launched with 18 constituents, with Ether (ETH), BNB (BNB), Solana (SOL), TRON (TRX) and Hyperliquid (HYPE) as its five largest holdings, while Bitcoin (BTC) and XRP (XRP) are the largest non-constituents.
The latest index follows a broader industry push to develop institutional-grade benchmarks for digital assets, with similar products including the Nasdaq Crypto Index US ETF, the Franklin Crypto Index ETF and the the Coinbase Store of Value Index among others.
Robinhood to expand prediction markets as CFTC issues new warning
Robinhood is reportedly discussing plans to expand its existing prediction markets offerings with crypto exchange Crypto.com.
According the Wall Street Journal the talks involve integrating yes-or-no event contracts supplied by Crypto.com. Robinhood launched its prediction markets in March 2025, initially facilitated by Kalshi in order to comply with regulatory requirements from the US Commodity Futures Trading Commission (CFTC).
Bernstein analysts last week raised its price target on Robinhood (HOOD) stock to $160 from $130 per share, based on the company’s outlook for prediction markets and tokenized equities.
Meanwhile the CFTC, which aims to become the primary regulator of prediction markets, issued a shot across the bow of providers last week, telling platforms they need to get a lot more specific about event contracts certifications.
The advisory addresses concerns about the practice of submitting broad, template-style certifications that combine many potential event contract variations into a single certification.
Carl Kennedy, a partner at New York law firm Katten Muchin, also told a House Agriculture Committee hearing last week, that the CLARITY Act could help the CFTC’s efforts to oversee the “explosive growth of prediction markets.”
Balaji’s Network School turns to Kazakhstan amid Malaysia setback
Balaji Srinivasan’s Network School, a community of “digital nomads,” is eyeing a new campus in Kazakhstan after its Forest City campus had its business license in Malaysia revoked over alleged premises-use violations.
A memorandum of understanding was signed between Kazakhstan’s relevant Minister Zhaslan Madiyev and Srinivasan to establish the first Network School campus in the country, which aims to become a digital hub.
The school was forced out of Johor in Malaysia, following a controversy in Malaysia over allowing Israeli dual citizens to attend. The Muslim majority country has no diplomatic relations with Israel. Despite an investigation finding no visa violations, the Network School was ordered to shut down on another pretext.
Dragonfly Capital managing partner Haseeb Qureshi said the drama has validated Balaji’s Network State thesis.
“The whole idea of a network state is taking a dense group of talent and capital, and collectively negotiating with states. The Malaysia drama set up Balaji to negotiate better terms with another state to copy and paste the network there.“
Winners and losers
At the end of the week, Bitcoin (BTC) is at $65,395, Ether (ETH) is at $1,958, and XRP (XRP) is at $1.11. The total market cap is at $2.24 trillion according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin winners of the week are Audiera (BEAT), which gained 53%, Shinba Inu (SHIB) with a 29% gain, and Venice Token (VVV), which increased 19%.
The top three altcoin losers of the week are DeXe (DEXE), which lost 89%, Midnight (NIGHT), which fell 26%, and Pyth Network (PYTH), which dropped 10%.
Prediction of the Week
Bitcoin will get ‘lift’ from Hyperliquid, Robinhood in next crypto bull market
Bitcoin (BTC) is “finally showing signs of a bottom,” according to Matt Hougan, chief investment officer at Bitwise.
Houghan predicts that TradFi integrations, particularly Hyperliquid and Robinhood, will drive the next crypto bull market, and the resulting tide should “lift” the largest cryptocurrencies including Bitcoin and Ether.
Houghan believes crypto is bringing major benefits like 24/7 trading to traditional markets, and noted that today “nearly half the volume on Hyperliquid is in conventional assets like oil, silver, and the S&P 500 [and] it’s expanding into spot commodities, prediction markets, and options,”
Bitwise data also suggests apparent demand for BTC is showing signs of reversal. The metric measures the difference between newly-mined BTC and the supply inactive for at least one year.
Source: Matt Hougan
Top FUD of the Week
Home invasions became most common crypto wrench attack in H1 2026: CertiK
Home invasions became the most common form of crypto wrench attacks during the first half of 2026, rising to 20 publicly reported incidents from just one a year earlier, according to blockchain security firm CertiK.
On Thursday, CertiK said it verified 52 wrench attacks worldwide in the first half of 2026, up 33.3% from 39 incidents during the same period in 2025. Kidnappings rose to 16 from 12, while robberies declined from five incidents to one.
CertiK said the recorded financial exposure linked to the attacks reached about $124.1 million, up from $10.5 million a year earlier.
The increase in home invasions suggests criminals are increasingly bypassing digital safeguards by physically coercing crypto holders and their families.
Hackers steal $31.6M in 2 crypto bridge attacks within 7 hours
Hackers stole more than $31.6 million across two unrelated crypto bridge exploits spaced just hours apart, targeting bridges operated by decentralized perpetual exchange AFX and Verus Protocol.
According to Blockaid, AFX, a decentralized perpetual exchange operating on Arbitrum, reportedly lost $24.15 million on Wednesday through a hack targeting one of its cross-chain bridges. Hours later, Blockaid said it detected an exploit targeting the Verus Ethereum Bridge that resulted in about $7.5 million in crypto being stolen.
“Another bridge, another exploit. Bridges will always be a weak link, until security is upgraded,” onchain investigator TheCrypticWolf said in a post on X.
Ethereum ETFs close week in red, end 5-day inflow streak
US-listed spot Ethereum exchange-traded funds (ETFs) logged $70.62 million in net outflows on Friday, ending a five-day inflow streak.
Ethereum funds saw $211.25 million in net inflows over the previous five sessions from July 17, according to SoSoValue data. They still posted $103.9 million in net inflows for the week ended Friday.
Despite the outflows, Ethereum ETFs extended their weekly inflow streak to three straight and have attracted $337.74 million in net inflows so far in July.
The Bitcoin ETFs reversed gains made earlier in the week to end up with $33.9 million of inflows.
Top Magazine Stories of the Week
Here’s why the CLARITY Act’s ethics deal may be so hard to reach
Both parties say they want US crypto market structure legislation, but a dispute over ethics rules and who enforces them is becoming the bill’s biggest obstacle.
A quantum roadmap would push Bitcoin much higher: Charles Edwards
A Bitcoin development roadmap that addresses quantum computing risks could see the price surge by “double digits” very quickly, according to Charles Edwards.
Fears of AI-driven DeFi hack epidemic overstated for now — but not for long
Are the fears of an AI driven hacking epidemic totally overblown, or is this just the lull before the storm?
609
Triple-A confirms treasury-wallet breach after losses reach $11.8MStablecoin payments firm Triple-A confirmed that unauthorized access to its treasury wallets resulted in the loss of company-owned digital assets.
On Monday, the Singapore-based company said it detected the unauthorized access on Saturday and temporarily placed certain services into maintenance mode for about three hours while it secured the affected infrastructure. Triple-A said client funds were not affected because it does not custody digital assets on behalf of customers and keeps client funds separately in trust accounts with safeguarding institutions.
Triple-A did not disclose the amount lost or explain how the wallets were compromised. Onchain investigator Specter previously estimated the losses at about $11.8 million.
The company said the financial impact was limited to specific operational accounts and would be absorbed through its treasury reserves. It added that all services had been restored and transactions and settlements were processing normally.
Triple-A said it was working with cybersecurity specialists, blockchain forensics firms and authorities, including the Singapore Police Force, to investigate the incident, trace the assets and support recovery efforts.
Triple-A confirms treasury-wallet breach after losses reach $11.8M
Stablecoin payments firm Triple-A confirmed that unauthorized access to its treasury wallets resulted in the loss of company-owned digital assets.
On Monday, the Singapore-based company said it detected the unauthorized access on Saturday and temporarily placed certain services into maintenance mode for about three hours while it secured the affected infrastructure. Triple-A said client funds were not affected because it does not custody digital assets on behalf of customers and keeps client funds separately in trust accounts with safeguarding institutions.
Triple-A did not disclose the amount lost or explain how the wallets were compromised. Onchain investigator Specter previously estimated the losses at about $11.8 million.
The company said the financial impact was limited to specific operational accounts and would be absorbed through its treasury reserves. It added that all services had been restored and transactions and settlements were processing normally.
Triple-A said it was working with cybersecurity specialists, blockchain forensics firms and authorities, including the Singapore Police Force, to investigate the incident, trace the assets and support recovery efforts.
On Monday, the Singapore-based company said it detected the unauthorized access on Saturday and temporarily placed certain services into maintenance mode for about three hours while it secured the affected infrastructure. Triple-A said client funds were not affected because it does not custody digital assets on behalf of customers and keeps client funds separately in trust accounts with safeguarding institutions.
Triple-A did not disclose the amount lost or explain how the wallets were compromised. Onchain investigator Specter previously estimated the losses at about $11.8 million.
The company said the financial impact was limited to specific operational accounts and would be absorbed through its treasury reserves. It added that all services had been restored and transactions and settlements were processing normally.
Triple-A said it was working with cybersecurity specialists, blockchain forensics firms and authorities, including the Singapore Police Force, to investigate the incident, trace the assets and support recovery efforts.
184
Article
BitMart withdrawals appear to slow following wind-down announcementWithdrawals from crypto exchange BitMart appeared to slow after it announced plans to wind down its operations.
On Monday, blockchain analytics account Lookonchain reported that only 58 wallets withdrew about $805,000 in over 24 hours. It added that the exchange had not processed any withdrawals during the latest eight-hour period it tracked.
X users also continued to report withdrawal difficulties. One user said they received an email stating that a USDT withdrawal had been completed even though the transaction had not been processed and their account displayed an “on-chain withdrawal freeze.” Another user said a $30 test withdrawal remained pending for over 30 minutes. These are individual claims and could not be verified.
BitMart’s ability to return customer funds smoothly will be a key test of its promised “orderly” wind-down and could determine whether declining confidence develops into a broader rush for the exits.
BitMart previously said withdrawals remain available but warned that requests may face additional compliance and security checks, including reviews of customer identities, login devices, withdrawal addresses, trading histories and sources of funds. The exchange may also request proof of identity, address, source of funds or ownership of the receiving wallet.
Cointelegraph reached out to BitMart for comments but did not receive a response before publication.
BitMart token extends decline as exchange prepares to close
On Sunday, BitMart announced that it would stop accepting new registrations and deposits while restricting new spot orders and futures positions. Trading services are scheduled to end on Aug. 26, with the platform expected to cease operations entirely on Jan. 31, 2027.
Arkham-identified wallets attributed to BitMart held about $69 million in crypto assets on Monday, down from roughly $102 million on July 6.
BitMart’s BMX token traded near $0.057 on Monday and had fallen about 81.5% over seven days, according to CoinGecko. The token was trading around $0.31 late Friday before the exchange’s shutdown became public.
BMX token’s 24-hour chart. Source: CoinGecko
The closure also prompted discussion about whether larger exchanges could acquire smaller competitors.
Binance co-founder Changpeng Zhao said acquiring a centralized exchange was more complicated than buying other businesses because buyers could inherit security vulnerabilities, including backdoors left by previous teams. He added that acquisitions remain possible but require greater scrutiny.
Magazine: Why Australia’s $17B crypto opportunity depends on regulation
BitMart withdrawals appear to slow following wind-down announcement
Withdrawals from crypto exchange BitMart appeared to slow after it announced plans to wind down its operations.
On Monday, blockchain analytics account Lookonchain reported that only 58 wallets withdrew about $805,000 in over 24 hours. It added that the exchange had not processed any withdrawals during the latest eight-hour period it tracked.
X users also continued to report withdrawal difficulties. One user said they received an email stating that a USDT withdrawal had been completed even though the transaction had not been processed and their account displayed an “on-chain withdrawal freeze.” Another user said a $30 test withdrawal remained pending for over 30 minutes. These are individual claims and could not be verified.
BitMart’s ability to return customer funds smoothly will be a key test of its promised “orderly” wind-down and could determine whether declining confidence develops into a broader rush for the exits.
BitMart previously said withdrawals remain available but warned that requests may face additional compliance and security checks, including reviews of customer identities, login devices, withdrawal addresses, trading histories and sources of funds. The exchange may also request proof of identity, address, source of funds or ownership of the receiving wallet.
Cointelegraph reached out to BitMart for comments but did not receive a response before publication.
BitMart token extends decline as exchange prepares to close
On Sunday, BitMart announced that it would stop accepting new registrations and deposits while restricting new spot orders and futures positions. Trading services are scheduled to end on Aug. 26, with the platform expected to cease operations entirely on Jan. 31, 2027.
Arkham-identified wallets attributed to BitMart held about $69 million in crypto assets on Monday, down from roughly $102 million on July 6.
BitMart’s BMX token traded near $0.057 on Monday and had fallen about 81.5% over seven days, according to CoinGecko. The token was trading around $0.31 late Friday before the exchange’s shutdown became public.
BMX token’s 24-hour chart. Source: CoinGecko
The closure also prompted discussion about whether larger exchanges could acquire smaller competitors.
Binance co-founder Changpeng Zhao said acquiring a centralized exchange was more complicated than buying other businesses because buyers could inherit security vulnerabilities, including backdoors left by previous teams. He added that acquisitions remain possible but require greater scrutiny.
Magazine: Why Australia’s $17B crypto opportunity depends on regulation
On Monday, blockchain analytics account Lookonchain reported that only 58 wallets withdrew about $805,000 in over 24 hours. It added that the exchange had not processed any withdrawals during the latest eight-hour period it tracked.
X users also continued to report withdrawal difficulties. One user said they received an email stating that a USDT withdrawal had been completed even though the transaction had not been processed and their account displayed an “on-chain withdrawal freeze.” Another user said a $30 test withdrawal remained pending for over 30 minutes. These are individual claims and could not be verified.
BitMart’s ability to return customer funds smoothly will be a key test of its promised “orderly” wind-down and could determine whether declining confidence develops into a broader rush for the exits.
BitMart previously said withdrawals remain available but warned that requests may face additional compliance and security checks, including reviews of customer identities, login devices, withdrawal addresses, trading histories and sources of funds. The exchange may also request proof of identity, address, source of funds or ownership of the receiving wallet.
Cointelegraph reached out to BitMart for comments but did not receive a response before publication.
BitMart token extends decline as exchange prepares to close
On Sunday, BitMart announced that it would stop accepting new registrations and deposits while restricting new spot orders and futures positions. Trading services are scheduled to end on Aug. 26, with the platform expected to cease operations entirely on Jan. 31, 2027.
Arkham-identified wallets attributed to BitMart held about $69 million in crypto assets on Monday, down from roughly $102 million on July 6.
BitMart’s BMX token traded near $0.057 on Monday and had fallen about 81.5% over seven days, according to CoinGecko. The token was trading around $0.31 late Friday before the exchange’s shutdown became public.
BMX token’s 24-hour chart. Source: CoinGecko
The closure also prompted discussion about whether larger exchanges could acquire smaller competitors.
Binance co-founder Changpeng Zhao said acquiring a centralized exchange was more complicated than buying other businesses because buyers could inherit security vulnerabilities, including backdoors left by previous teams. He added that acquisitions remain possible but require greater scrutiny.
Magazine: Why Australia’s $17B crypto opportunity depends on regulation
179
Garden Finance disables app as Blockaid reports $450,000 exploitCross-chain bridging and atomic swap protocol Garden Finance temporarily took its app offline after blockchain security firm Blockaid reported an exploit targeting the protocol’s hash time-locked contracts (HTLC) across four blockchain networks.
On Sunday, Blockaid said an attacker drained about $450,000 in USDT from Garden’s HTLC contracts on Ethereum, Base, Arbitrum and BNB Smart Chain. HTLCs are time-bound escrow contracts that Garden uses to facilitate atomic swaps between Bitcoin and assets on other networks.
Blockaid described the exploit as ongoing when it published its alert but did not disclose the suspected vulnerability or say whether the incident affected user funds. Blockaid’s alert included addresses associated with the attacker and the affected contracts.
Garden said separately that it had detected “unusual activity” and was conducting a full investigation while its app remained temporarily offline.
Garden Finance and Blockaid acknowledged Cointelegraph’s request for comments.
The incident follows an October 2025 breach in which an attacker stole about $11.4 million after compromising the operating environment of one of Garden’s solvers. Garden said that breach did not affect its protocol contracts or put user funds at risk.
Garden Finance disables app as Blockaid reports $450,000 exploit
Cross-chain bridging and atomic swap protocol Garden Finance temporarily took its app offline after blockchain security firm Blockaid reported an exploit targeting the protocol’s hash time-locked contracts (HTLC) across four blockchain networks.
On Sunday, Blockaid said an attacker drained about $450,000 in USDT from Garden’s HTLC contracts on Ethereum, Base, Arbitrum and BNB Smart Chain. HTLCs are time-bound escrow contracts that Garden uses to facilitate atomic swaps between Bitcoin and assets on other networks.
Blockaid described the exploit as ongoing when it published its alert but did not disclose the suspected vulnerability or say whether the incident affected user funds. Blockaid’s alert included addresses associated with the attacker and the affected contracts.
Garden said separately that it had detected “unusual activity” and was conducting a full investigation while its app remained temporarily offline.
Garden Finance and Blockaid acknowledged Cointelegraph’s request for comments.
The incident follows an October 2025 breach in which an attacker stole about $11.4 million after compromising the operating environment of one of Garden’s solvers. Garden said that breach did not affect its protocol contracts or put user funds at risk.
On Sunday, Blockaid said an attacker drained about $450,000 in USDT from Garden’s HTLC contracts on Ethereum, Base, Arbitrum and BNB Smart Chain. HTLCs are time-bound escrow contracts that Garden uses to facilitate atomic swaps between Bitcoin and assets on other networks.
Blockaid described the exploit as ongoing when it published its alert but did not disclose the suspected vulnerability or say whether the incident affected user funds. Blockaid’s alert included addresses associated with the attacker and the affected contracts.
Garden said separately that it had detected “unusual activity” and was conducting a full investigation while its app remained temporarily offline.
Garden Finance and Blockaid acknowledged Cointelegraph’s request for comments.
The incident follows an October 2025 breach in which an attacker stole about $11.4 million after compromising the operating environment of one of Garden’s solvers. Garden said that breach did not affect its protocol contracts or put user funds at risk.
249
Storj files for bankruptcy, explores equity path for tokenholdersDecentralized cloud storage provider Storj Labs has filed for Chapter 11 bankruptcy protection. The company said it plans to keep its network running while restructuring legacy liabilities and exploring an ownership pathway for STORJ tokenholders.
On Sunday, Storj said it filed the voluntary case in the US Bankruptcy Court for the Northern District of West Virginia. The company said ordinary operations and customer services would continue during the process, subject to court oversight, while its parent company, Inveniam, would continue to support the business.
The restructuring could become an unusual test of whether utility-token holders can participate in the ownership of a company emerging from bankruptcy.
In an open letter to its community, Storj said its liabilities largely predate its current strategy and are too substantial to resolve through business growth alone. It said the network continues to operate normally and its token’s utility is unchanged.
STORJ showed no significant immediate price reaction following the announcement, trading around $0.072 at the time of writing, according to CoinGecko.
Storj explores equity pathway for tokenholders
Storj said management intends to propose a mechanism allowing tokenholders to participate in the reorganized company’s equity.
However, Storj has not disclosed how tokenholder eligibility would be determined, whether participation would involve a token snapshot or lockup, or how much equity might be allocated. The company acknowledged that any plan must follow bankruptcy priorities and receive court approval.
Cointelegraph reached out to Storj for comment but did not receive a response before publication.
Storj is among the crypto industry’s longest-running decentralized infrastructure projects. Storj began in 2014 as an open-source peer-to-peer cloud storage project that sought to let users rent storage from other network participants rather than rely on centralized providers.
Storj’s bankruptcy filing comes in the same month as at least two other crypto companies sought Chapter 11 protection.
Movement Labs filed under Subchapter V on July 15 after months of turmoil linked to its MOVE token, while Bitcoin mining pool Poolin filed on July 22 as it pursued a court-supervised sale of two Texas mining sites.
BitMEX also announced in July that it would shut down after 11 years. Still, the derivatives exchange did not file for bankruptcy, instead opting for an orderly wind-down following a strategic review.
Magazine: CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest
Storj files for bankruptcy, explores equity path for tokenholders
Decentralized cloud storage provider Storj Labs has filed for Chapter 11 bankruptcy protection. The company said it plans to keep its network running while restructuring legacy liabilities and exploring an ownership pathway for STORJ tokenholders.
On Sunday, Storj said it filed the voluntary case in the US Bankruptcy Court for the Northern District of West Virginia. The company said ordinary operations and customer services would continue during the process, subject to court oversight, while its parent company, Inveniam, would continue to support the business.
The restructuring could become an unusual test of whether utility-token holders can participate in the ownership of a company emerging from bankruptcy.
In an open letter to its community, Storj said its liabilities largely predate its current strategy and are too substantial to resolve through business growth alone. It said the network continues to operate normally and its token’s utility is unchanged.
STORJ showed no significant immediate price reaction following the announcement, trading around $0.072 at the time of writing, according to CoinGecko.
Storj explores equity pathway for tokenholders
Storj said management intends to propose a mechanism allowing tokenholders to participate in the reorganized company’s equity.
However, Storj has not disclosed how tokenholder eligibility would be determined, whether participation would involve a token snapshot or lockup, or how much equity might be allocated. The company acknowledged that any plan must follow bankruptcy priorities and receive court approval.
Cointelegraph reached out to Storj for comment but did not receive a response before publication.
Storj is among the crypto industry’s longest-running decentralized infrastructure projects. Storj began in 2014 as an open-source peer-to-peer cloud storage project that sought to let users rent storage from other network participants rather than rely on centralized providers.
Storj’s bankruptcy filing comes in the same month as at least two other crypto companies sought Chapter 11 protection.
Movement Labs filed under Subchapter V on July 15 after months of turmoil linked to its MOVE token, while Bitcoin mining pool Poolin filed on July 22 as it pursued a court-supervised sale of two Texas mining sites.
BitMEX also announced in July that it would shut down after 11 years. Still, the derivatives exchange did not file for bankruptcy, instead opting for an orderly wind-down following a strategic review.
Magazine: CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest
On Sunday, Storj said it filed the voluntary case in the US Bankruptcy Court for the Northern District of West Virginia. The company said ordinary operations and customer services would continue during the process, subject to court oversight, while its parent company, Inveniam, would continue to support the business.
The restructuring could become an unusual test of whether utility-token holders can participate in the ownership of a company emerging from bankruptcy.
In an open letter to its community, Storj said its liabilities largely predate its current strategy and are too substantial to resolve through business growth alone. It said the network continues to operate normally and its token’s utility is unchanged.
STORJ showed no significant immediate price reaction following the announcement, trading around $0.072 at the time of writing, according to CoinGecko.
Storj explores equity pathway for tokenholders
Storj said management intends to propose a mechanism allowing tokenholders to participate in the reorganized company’s equity.
However, Storj has not disclosed how tokenholder eligibility would be determined, whether participation would involve a token snapshot or lockup, or how much equity might be allocated. The company acknowledged that any plan must follow bankruptcy priorities and receive court approval.
Cointelegraph reached out to Storj for comment but did not receive a response before publication.
Storj is among the crypto industry’s longest-running decentralized infrastructure projects. Storj began in 2014 as an open-source peer-to-peer cloud storage project that sought to let users rent storage from other network participants rather than rely on centralized providers.
Storj’s bankruptcy filing comes in the same month as at least two other crypto companies sought Chapter 11 protection.
Movement Labs filed under Subchapter V on July 15 after months of turmoil linked to its MOVE token, while Bitcoin mining pool Poolin filed on July 22 as it pursued a court-supervised sale of two Texas mining sites.
BitMEX also announced in July that it would shut down after 11 years. Still, the derivatives exchange did not file for bankruptcy, instead opting for an orderly wind-down following a strategic review.
Magazine: CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest
234
WEMIX says attacker moved about $724,000 after contract breachLayer-1 blockchain network WEMIX said an attacker moved about 724,000 in USDC.e tokens after compromising ownership of a contract linked to its WEMIX$ stablecoin and issuing tokens without authorization.
The abnormal transactions occurred on Sunday at 9:17 UTC, according to a preliminary incident update from WEMIX. The attacker issued about 5.23 million WEMIX$, which was converted into 30,736 WEMIX and 724,198.27 USDC.e. The USDC.e was then bridged to Ethereum and BNB Smart Chain before being exchanged for assets including Ether and Tether’s USDT and distributed across multiple addresses.
WEMIX said some of the funds were deposited into centralized exchanges. The company identified the attacker’s wallets and requested asset freezes and assistance from exchanges and stablecoin issuers, adding that some exchanges had already frozen addresses linked to the incident.
The company temporarily suspended all bridges connected to its layer-1 network, WEMIX3.0, including Chainlink CCIP and the PLAY Bridge. It also suspended trading in affected liquidity pools, withdrew foundation-provided liquidity, and paused services including the WEMIX$ Module and PNIX decentralized exchange.
WEMIX said the cause and full impact remain under investigation and warned that the preliminary figures could change.
WEMIX says attacker moved about $724,000 after contract breach
Layer-1 blockchain network WEMIX said an attacker moved about 724,000 in USDC.e tokens after compromising ownership of a contract linked to its WEMIX$ stablecoin and issuing tokens without authorization.
The abnormal transactions occurred on Sunday at 9:17 UTC, according to a preliminary incident update from WEMIX. The attacker issued about 5.23 million WEMIX$, which was converted into 30,736 WEMIX and 724,198.27 USDC.e. The USDC.e was then bridged to Ethereum and BNB Smart Chain before being exchanged for assets including Ether and Tether’s USDT and distributed across multiple addresses.
WEMIX said some of the funds were deposited into centralized exchanges. The company identified the attacker’s wallets and requested asset freezes and assistance from exchanges and stablecoin issuers, adding that some exchanges had already frozen addresses linked to the incident.
The company temporarily suspended all bridges connected to its layer-1 network, WEMIX3.0, including Chainlink CCIP and the PLAY Bridge. It also suspended trading in affected liquidity pools, withdrew foundation-provided liquidity, and paused services including the WEMIX$ Module and PNIX decentralized exchange.
WEMIX said the cause and full impact remain under investigation and warned that the preliminary figures could change.
The abnormal transactions occurred on Sunday at 9:17 UTC, according to a preliminary incident update from WEMIX. The attacker issued about 5.23 million WEMIX$, which was converted into 30,736 WEMIX and 724,198.27 USDC.e. The USDC.e was then bridged to Ethereum and BNB Smart Chain before being exchanged for assets including Ether and Tether’s USDT and distributed across multiple addresses.
WEMIX said some of the funds were deposited into centralized exchanges. The company identified the attacker’s wallets and requested asset freezes and assistance from exchanges and stablecoin issuers, adding that some exchanges had already frozen addresses linked to the incident.
The company temporarily suspended all bridges connected to its layer-1 network, WEMIX3.0, including Chainlink CCIP and the PLAY Bridge. It also suspended trading in affected liquidity pools, withdrew foundation-provided liquidity, and paused services including the WEMIX$ Module and PNIX decentralized exchange.
WEMIX said the cause and full impact remain under investigation and warned that the preliminary figures could change.
424
CFTC issues second warning to prediction markets on cookie-cutter self-certificationsFor the second time this year, the US Commodity Futures Trading Commission (CFTC) issued a warning to prediction markets operators to follow the rules when creating contract certifications that operators consider cover a broad swath of events contracts.
The CFTC, which claims to be the primary regulator of prediction markets, on Friday issued an advisory clarifying that, notwithstanding ongoing policy discussions and proposed rulemaking concerning prediction markets, the markets retain the ability to certify event contracts as compliant with the Commodity Exchange Act and CFTC regulations without prior commission approval, subject to the statutory framework governing self-certification.
The agency on Friday warned about the number of instances of events contracts that are “self-certified” by the platforms under the agency’s jurisdiction “without supplying the terms and conditions of each proposed permutation and a concise explanation and analysis with respect to the product’s terms and conditions, the underlying commodity, and the product’s compliance.”
“The guidance reiterates that broad, template-style certifications should not be submitted,” the CFTC said in its July 24 announcement. The regulator issued a similar warning about overly generalized submissions on March 12.
The advisory was issued just days ahead of the CFTC’s July 27 deadline to submit comments on its proposed rule amendments governing public interest determinations for certain event contracts involving the Commodity Exchange Act’s enumerated activities.
The CFTC has proposed amendments to clarify how it determines whether certain event contracts are contrary to the public interest, establishing a three-step analytical framework for evaluation.
This framework will help assess contracts based on their involvement in activities like terrorism, assassination, or gaming, ensuring that only appropriate contracts are listed for trading.
The proposed rule, if adopted, would fundamentally reshape aspects of the regulatory landscape for prediction markets, law firm Ropes & Gray said in June.
CFTC issues second warning to prediction markets on cookie-cutter self-certifications
For the second time this year, the US Commodity Futures Trading Commission (CFTC) issued a warning to prediction markets operators to follow the rules when creating contract certifications that operators consider cover a broad swath of events contracts.
The CFTC, which claims to be the primary regulator of prediction markets, on Friday issued an advisory clarifying that, notwithstanding ongoing policy discussions and proposed rulemaking concerning prediction markets, the markets retain the ability to certify event contracts as compliant with the Commodity Exchange Act and CFTC regulations without prior commission approval, subject to the statutory framework governing self-certification.
The agency on Friday warned about the number of instances of events contracts that are “self-certified” by the platforms under the agency’s jurisdiction “without supplying the terms and conditions of each proposed permutation and a concise explanation and analysis with respect to the product’s terms and conditions, the underlying commodity, and the product’s compliance.”
“The guidance reiterates that broad, template-style certifications should not be submitted,” the CFTC said in its July 24 announcement. The regulator issued a similar warning about overly generalized submissions on March 12.
The advisory was issued just days ahead of the CFTC’s July 27 deadline to submit comments on its proposed rule amendments governing public interest determinations for certain event contracts involving the Commodity Exchange Act’s enumerated activities.
The CFTC has proposed amendments to clarify how it determines whether certain event contracts are contrary to the public interest, establishing a three-step analytical framework for evaluation.
This framework will help assess contracts based on their involvement in activities like terrorism, assassination, or gaming, ensuring that only appropriate contracts are listed for trading.
The proposed rule, if adopted, would fundamentally reshape aspects of the regulatory landscape for prediction markets, law firm Ropes & Gray said in June.
The CFTC, which claims to be the primary regulator of prediction markets, on Friday issued an advisory clarifying that, notwithstanding ongoing policy discussions and proposed rulemaking concerning prediction markets, the markets retain the ability to certify event contracts as compliant with the Commodity Exchange Act and CFTC regulations without prior commission approval, subject to the statutory framework governing self-certification.
The agency on Friday warned about the number of instances of events contracts that are “self-certified” by the platforms under the agency’s jurisdiction “without supplying the terms and conditions of each proposed permutation and a concise explanation and analysis with respect to the product’s terms and conditions, the underlying commodity, and the product’s compliance.”
“The guidance reiterates that broad, template-style certifications should not be submitted,” the CFTC said in its July 24 announcement. The regulator issued a similar warning about overly generalized submissions on March 12.
The advisory was issued just days ahead of the CFTC’s July 27 deadline to submit comments on its proposed rule amendments governing public interest determinations for certain event contracts involving the Commodity Exchange Act’s enumerated activities.
The CFTC has proposed amendments to clarify how it determines whether certain event contracts are contrary to the public interest, establishing a three-step analytical framework for evaluation.
This framework will help assess contracts based on their involvement in activities like terrorism, assassination, or gaming, ensuring that only appropriate contracts are listed for trading.
The proposed rule, if adopted, would fundamentally reshape aspects of the regulatory landscape for prediction markets, law firm Ropes & Gray said in June.
221
Russia’s Sberbank to launch crypto trading infrastructure this yearSberbank, Russia’s biggest bank, plans to build cryptocurrency trading infrastructure including a digital depository no later than Dec. 1 as the country brings crypto trading, custody and settlement into its regulated financial system.
That digital depository, Interfax reported, will record ownership of cryptocurrency and process most transactions outside of the main blockchain. Sberbank will operate active wallets for client-initiated deposits, withdrawals and transfers.
“One of the key elements of the new infrastructure will be a digital depository, which will maintain records of clients’ cryptocurrency rights and account for transactions outside the main blockchain,” said Alexander Vedyakhin, first deputy chairman of Sberbank’s management board, the state-affiliated press service said. “It will also facilitate transactions on active wallets to fulfill clients’ currency transfer orders.”
Russia’s lawmakers earlier this month moved the country closer to its first comprehensive crypto market framework after completing final readings on a bill that would regulate digital asset activity.
The bill would give the Bank of Russia broad oversight of the regulated market, including authority to determine which crypto assets may be offered through licensed intermediaries and to issue implementing regulations.The central bank has set liquidity thresholds, including an average market capitalization of more than 5 trillion rubles (~$64 billion) and an average daily volume of more than 1 trillion rubles (~$12.8 billion) over two years.
Once in place, it also establishes five categories of regulated market participants, including crypto exchanges, brokers, asset managers, custodians and exchange service providers, defining who can buy, sell, hold and exchange crypto assets as of the framework’s effective date of Sept. 1, 2026.
Recommended: Bitcoin advocacy group to join US State Department’s ‘digital freedom’ program
Moscow adopts crypto framework as EU tightens sanctions
Moscow is moving to put a working crypto infrastructure in place as the European Union turns up the heat on the country with a package of sanctions targeting Russia amid the country’s war on Ukraine. Last week, the bloc listed cryptocurrency exchange HTX, formerly Huobi Global, in its sanctions.
In a Thursday decision, the European Council amended its previous measures “in view of Russia’s actions destabilizing the situation in Ukraine” to include HTX in a list of 18 entities “providing crypto-assets services or payment services established outside of the Union that are significantly frustrating the purpose of the prohibitions” against Russia. The country continues to face sanctions globally over its war in Ukraine following a military invasion in 2022.
The sanctions against HTX came the same day EU officials announced they would prohibit Belarusian nationals and residents from owning, controlling or managing crypto exchanges and digital asset service providers in compliance with the region’s Markets in Crypto Assets (MiCA) framework.
The UK government imposed similar sanctions on HTX in May, saying there were “reasonable grounds to suspect” that the exchange supported Russia’s government by using financial services and funds facilitated by sanctioned entities.
Magazine: Will the US get CLARITY this week? Bitcoin’s new $80K target: Hodler’s Digest, July 19
Russia’s Sberbank to launch crypto trading infrastructure this year
Sberbank, Russia’s biggest bank, plans to build cryptocurrency trading infrastructure including a digital depository no later than Dec. 1 as the country brings crypto trading, custody and settlement into its regulated financial system.
That digital depository, Interfax reported, will record ownership of cryptocurrency and process most transactions outside of the main blockchain. Sberbank will operate active wallets for client-initiated deposits, withdrawals and transfers.
“One of the key elements of the new infrastructure will be a digital depository, which will maintain records of clients’ cryptocurrency rights and account for transactions outside the main blockchain,” said Alexander Vedyakhin, first deputy chairman of Sberbank’s management board, the state-affiliated press service said. “It will also facilitate transactions on active wallets to fulfill clients’ currency transfer orders.”
Russia’s lawmakers earlier this month moved the country closer to its first comprehensive crypto market framework after completing final readings on a bill that would regulate digital asset activity.
The bill would give the Bank of Russia broad oversight of the regulated market, including authority to determine which crypto assets may be offered through licensed intermediaries and to issue implementing regulations.The central bank has set liquidity thresholds, including an average market capitalization of more than 5 trillion rubles (~$64 billion) and an average daily volume of more than 1 trillion rubles (~$12.8 billion) over two years.
Once in place, it also establishes five categories of regulated market participants, including crypto exchanges, brokers, asset managers, custodians and exchange service providers, defining who can buy, sell, hold and exchange crypto assets as of the framework’s effective date of Sept. 1, 2026.
Recommended: Bitcoin advocacy group to join US State Department’s ‘digital freedom’ program
Moscow adopts crypto framework as EU tightens sanctions
Moscow is moving to put a working crypto infrastructure in place as the European Union turns up the heat on the country with a package of sanctions targeting Russia amid the country’s war on Ukraine. Last week, the bloc listed cryptocurrency exchange HTX, formerly Huobi Global, in its sanctions.
In a Thursday decision, the European Council amended its previous measures “in view of Russia’s actions destabilizing the situation in Ukraine” to include HTX in a list of 18 entities “providing crypto-assets services or payment services established outside of the Union that are significantly frustrating the purpose of the prohibitions” against Russia. The country continues to face sanctions globally over its war in Ukraine following a military invasion in 2022.
The sanctions against HTX came the same day EU officials announced they would prohibit Belarusian nationals and residents from owning, controlling or managing crypto exchanges and digital asset service providers in compliance with the region’s Markets in Crypto Assets (MiCA) framework.
The UK government imposed similar sanctions on HTX in May, saying there were “reasonable grounds to suspect” that the exchange supported Russia’s government by using financial services and funds facilitated by sanctioned entities.
Magazine: Will the US get CLARITY this week? Bitcoin’s new $80K target: Hodler’s Digest, July 19
That digital depository, Interfax reported, will record ownership of cryptocurrency and process most transactions outside of the main blockchain. Sberbank will operate active wallets for client-initiated deposits, withdrawals and transfers.
“One of the key elements of the new infrastructure will be a digital depository, which will maintain records of clients’ cryptocurrency rights and account for transactions outside the main blockchain,” said Alexander Vedyakhin, first deputy chairman of Sberbank’s management board, the state-affiliated press service said. “It will also facilitate transactions on active wallets to fulfill clients’ currency transfer orders.”
Russia’s lawmakers earlier this month moved the country closer to its first comprehensive crypto market framework after completing final readings on a bill that would regulate digital asset activity.
The bill would give the Bank of Russia broad oversight of the regulated market, including authority to determine which crypto assets may be offered through licensed intermediaries and to issue implementing regulations.The central bank has set liquidity thresholds, including an average market capitalization of more than 5 trillion rubles (~$64 billion) and an average daily volume of more than 1 trillion rubles (~$12.8 billion) over two years.
Once in place, it also establishes five categories of regulated market participants, including crypto exchanges, brokers, asset managers, custodians and exchange service providers, defining who can buy, sell, hold and exchange crypto assets as of the framework’s effective date of Sept. 1, 2026.
Recommended: Bitcoin advocacy group to join US State Department’s ‘digital freedom’ program
Moscow adopts crypto framework as EU tightens sanctions
Moscow is moving to put a working crypto infrastructure in place as the European Union turns up the heat on the country with a package of sanctions targeting Russia amid the country’s war on Ukraine. Last week, the bloc listed cryptocurrency exchange HTX, formerly Huobi Global, in its sanctions.
In a Thursday decision, the European Council amended its previous measures “in view of Russia’s actions destabilizing the situation in Ukraine” to include HTX in a list of 18 entities “providing crypto-assets services or payment services established outside of the Union that are significantly frustrating the purpose of the prohibitions” against Russia. The country continues to face sanctions globally over its war in Ukraine following a military invasion in 2022.
The sanctions against HTX came the same day EU officials announced they would prohibit Belarusian nationals and residents from owning, controlling or managing crypto exchanges and digital asset service providers in compliance with the region’s Markets in Crypto Assets (MiCA) framework.
The UK government imposed similar sanctions on HTX in May, saying there were “reasonable grounds to suspect” that the exchange supported Russia’s government by using financial services and funds facilitated by sanctioned entities.
Magazine: Will the US get CLARITY this week? Bitcoin’s new $80K target: Hodler’s Digest, July 19
1
235
Bitcoin OG selling eases as dormant BTC movement hits 4-year low: ThornDormant Bitcoin movement in the second quarter fell to its lowest level since the third quarter of 2022, according to data shared by Alex Thorn, Galaxy’s head of firmwide research.
Coin days destroyed, a metric that gives greater weight to older coins, showed a similar decline.
Thorn said the earlier spikes were driven by “OGs taking profit,” similar to the pattern seen during Bitcoin’s 2017 bull market, suggesting long-term holders have slowed selling after elevated distribution in 2024 and 2025.
Dormant coin movement tracks Bitcoin that has remained untouched for extended periods before being spent again. Analysts monitor the metric because increased activity from long-term holders has historically coincided with periods of profit-taking and heightened selling pressure, while subdued activity can suggest those investors are holding rather than distributing their coins.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
Bitcoin OG selling eases as dormant BTC movement hits 4-year low: Thorn
Dormant Bitcoin movement in the second quarter fell to its lowest level since the third quarter of 2022, according to data shared by Alex Thorn, Galaxy’s head of firmwide research.
Coin days destroyed, a metric that gives greater weight to older coins, showed a similar decline.
Thorn said the earlier spikes were driven by “OGs taking profit,” similar to the pattern seen during Bitcoin’s 2017 bull market, suggesting long-term holders have slowed selling after elevated distribution in 2024 and 2025.
Dormant coin movement tracks Bitcoin that has remained untouched for extended periods before being spent again. Analysts monitor the metric because increased activity from long-term holders has historically coincided with periods of profit-taking and heightened selling pressure, while subdued activity can suggest those investors are holding rather than distributing their coins.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
Coin days destroyed, a metric that gives greater weight to older coins, showed a similar decline.
Thorn said the earlier spikes were driven by “OGs taking profit,” similar to the pattern seen during Bitcoin’s 2017 bull market, suggesting long-term holders have slowed selling after elevated distribution in 2024 and 2025.
Dormant coin movement tracks Bitcoin that has remained untouched for extended periods before being spent again. Analysts monitor the metric because increased activity from long-term holders has historically coincided with periods of profit-taking and heightened selling pressure, while subdued activity can suggest those investors are holding rather than distributing their coins.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
315
South Korea’s largest bank to launch payment service on JPMorgan’s KinexysSouth Korea’s KB Kookmin Bank will launch a blockchain-based cross-border payment service for import and export businesses in August using JPMorgan’s Kinexys network, according to multiple local media reports.
Kinexys, formerly known as Onyx, is JPMorgan’s blockchain platform for institutional payments, tokenization and digital assets.
The service will initially support US dollar transfers across 10 countries, including the US, Singapore, Saudi Arabia and the United Arab Emirates.
According to Yonhap, it will integrate with the existing SWIFT payment network for near-instant cross-border payments and foreign exchange settlement.
In an April research report, S&P Global ranked KB Financial Group, the parent of KB Kookmin Bank, as South Korea’s largest lender by assets. The group is also listed as the 28th-largest bank in the Asia-Pacific region, with $552.76 billion in total assets.
South Korea’s largest bank to launch payment service on JPMorgan’s Kinexys
South Korea’s KB Kookmin Bank will launch a blockchain-based cross-border payment service for import and export businesses in August using JPMorgan’s Kinexys network, according to multiple local media reports.
Kinexys, formerly known as Onyx, is JPMorgan’s blockchain platform for institutional payments, tokenization and digital assets.
The service will initially support US dollar transfers across 10 countries, including the US, Singapore, Saudi Arabia and the United Arab Emirates.
According to Yonhap, it will integrate with the existing SWIFT payment network for near-instant cross-border payments and foreign exchange settlement.
In an April research report, S&P Global ranked KB Financial Group, the parent of KB Kookmin Bank, as South Korea’s largest lender by assets. The group is also listed as the 28th-largest bank in the Asia-Pacific region, with $552.76 billion in total assets.
Kinexys, formerly known as Onyx, is JPMorgan’s blockchain platform for institutional payments, tokenization and digital assets.
The service will initially support US dollar transfers across 10 countries, including the US, Singapore, Saudi Arabia and the United Arab Emirates.
According to Yonhap, it will integrate with the existing SWIFT payment network for near-instant cross-border payments and foreign exchange settlement.
In an April research report, S&P Global ranked KB Financial Group, the parent of KB Kookmin Bank, as South Korea’s largest lender by assets. The group is also listed as the 28th-largest bank in the Asia-Pacific region, with $552.76 billion in total assets.
273
Article
BitMart to wind down exchange, end trading by Aug. 26BitMart will wind down its cryptocurrency exchange, ending all trading services on Aug. 26 before ceasing operations entirely on Jan. 31, 2027.
“After a careful evaluation of the Company’s operating conditions, market environment, and future strategic direction, BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations,” it said in a Sunday notice.
Under the shutdown plan, BitMart has stopped accepting new user registrations and deposits, while futures trading has entered reduce-only mode and spot markets no longer accept new orders.
BitMart joins a growing list of crypto trading platforms that have announced plans to close shop in recent months. Among them are BitMEX and Dango, which both said this week they would shut down their respective trading platforms.
BMX sinks amid withdrawal complaints
BitMart’s native token, BMX, lost nearly 70% of its value while users reported delayed withdrawals from the exchange.
BMX traded at about $0.09464 at the time of writing, down nearly 70% from about $0.31 late Friday. The token fell as low as $0.1058 early Saturday before extending its losses.
BMX resumes losses after Saturday’s brief recovery, falling below $0.10. Source: CoinGecko
Several users on X reported withdrawals taking longer than usual, with some claiming Tether USDt (USDT) withdrawal requests remained pending for hours.
Arkham data showed wallets attributed to BitMart held about $71 million in crypto assets on Sunday, down from roughly $102 million on July 6. About $41.5 million was in stablecoin banking platform WeFi’s WFI tokens, while the tracked wallets held about $91,000 in USDT.
BitMart’s USDT balance over the past month. Source: Arkham
In its wind-down announcement, BitMart said some withdrawal requests could be subject to additional compliance and security reviews, potentially extending processing times.
BitMart did not respond to Cointelegraph’s request for comment before publication.
BMX? BMEX? BitMEX?
Some users on X also appeared to confuse BitMart and its BMX token with BitMEX.
On Saturday, an X user in the Mandarin-speaking crypto community who goes by “Brother Lu” drew attention to BMX’s price drop while speculating about its cause.
“The whole internet was posting yesterday that it was shutting down on Sept. 30. Did you just wake up?” another X user replied, according to a machine translation.
The reference to Sept. 30 did not match BitMEX’s Sept. 23 shutdown date announced Thursday. BitMEX’s own token, BMEX, fell 90% shortly after the notice.
Several other users in the Mandarin-speaking community also mixed up BMX with BitMEX.
It was not immediately clear whether the confusion had any impact on BMX trading.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
BitMart to wind down exchange, end trading by Aug. 26
BitMart will wind down its cryptocurrency exchange, ending all trading services on Aug. 26 before ceasing operations entirely on Jan. 31, 2027.
“After a careful evaluation of the Company’s operating conditions, market environment, and future strategic direction, BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations,” it said in a Sunday notice.
Under the shutdown plan, BitMart has stopped accepting new user registrations and deposits, while futures trading has entered reduce-only mode and spot markets no longer accept new orders.
BitMart joins a growing list of crypto trading platforms that have announced plans to close shop in recent months. Among them are BitMEX and Dango, which both said this week they would shut down their respective trading platforms.
BMX sinks amid withdrawal complaints
BitMart’s native token, BMX, lost nearly 70% of its value while users reported delayed withdrawals from the exchange.
BMX traded at about $0.09464 at the time of writing, down nearly 70% from about $0.31 late Friday. The token fell as low as $0.1058 early Saturday before extending its losses.
BMX resumes losses after Saturday’s brief recovery, falling below $0.10. Source: CoinGecko
Several users on X reported withdrawals taking longer than usual, with some claiming Tether USDt (USDT) withdrawal requests remained pending for hours.
Arkham data showed wallets attributed to BitMart held about $71 million in crypto assets on Sunday, down from roughly $102 million on July 6. About $41.5 million was in stablecoin banking platform WeFi’s WFI tokens, while the tracked wallets held about $91,000 in USDT.
BitMart’s USDT balance over the past month. Source: Arkham
In its wind-down announcement, BitMart said some withdrawal requests could be subject to additional compliance and security reviews, potentially extending processing times.
BitMart did not respond to Cointelegraph’s request for comment before publication.
BMX? BMEX? BitMEX?
Some users on X also appeared to confuse BitMart and its BMX token with BitMEX.
On Saturday, an X user in the Mandarin-speaking crypto community who goes by “Brother Lu” drew attention to BMX’s price drop while speculating about its cause.
“The whole internet was posting yesterday that it was shutting down on Sept. 30. Did you just wake up?” another X user replied, according to a machine translation.
The reference to Sept. 30 did not match BitMEX’s Sept. 23 shutdown date announced Thursday. BitMEX’s own token, BMEX, fell 90% shortly after the notice.
Several other users in the Mandarin-speaking community also mixed up BMX with BitMEX.
It was not immediately clear whether the confusion had any impact on BMX trading.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
“After a careful evaluation of the Company’s operating conditions, market environment, and future strategic direction, BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations,” it said in a Sunday notice.
Under the shutdown plan, BitMart has stopped accepting new user registrations and deposits, while futures trading has entered reduce-only mode and spot markets no longer accept new orders.
BitMart joins a growing list of crypto trading platforms that have announced plans to close shop in recent months. Among them are BitMEX and Dango, which both said this week they would shut down their respective trading platforms.
BMX sinks amid withdrawal complaints
BitMart’s native token, BMX, lost nearly 70% of its value while users reported delayed withdrawals from the exchange.
BMX traded at about $0.09464 at the time of writing, down nearly 70% from about $0.31 late Friday. The token fell as low as $0.1058 early Saturday before extending its losses.
BMX resumes losses after Saturday’s brief recovery, falling below $0.10. Source: CoinGecko
Several users on X reported withdrawals taking longer than usual, with some claiming Tether USDt (USDT) withdrawal requests remained pending for hours.
Arkham data showed wallets attributed to BitMart held about $71 million in crypto assets on Sunday, down from roughly $102 million on July 6. About $41.5 million was in stablecoin banking platform WeFi’s WFI tokens, while the tracked wallets held about $91,000 in USDT.
BitMart’s USDT balance over the past month. Source: Arkham
In its wind-down announcement, BitMart said some withdrawal requests could be subject to additional compliance and security reviews, potentially extending processing times.
BitMart did not respond to Cointelegraph’s request for comment before publication.
BMX? BMEX? BitMEX?
Some users on X also appeared to confuse BitMart and its BMX token with BitMEX.
On Saturday, an X user in the Mandarin-speaking crypto community who goes by “Brother Lu” drew attention to BMX’s price drop while speculating about its cause.
“The whole internet was posting yesterday that it was shutting down on Sept. 30. Did you just wake up?” another X user replied, according to a machine translation.
The reference to Sept. 30 did not match BitMEX’s Sept. 23 shutdown date announced Thursday. BitMEX’s own token, BMEX, fell 90% shortly after the notice.
Several other users in the Mandarin-speaking community also mixed up BMX with BitMEX.
It was not immediately clear whether the confusion had any impact on BMX trading.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
336
Article
Binance ‘red teams’ its own staff every month to keep hackers outCryptocurrency exchange Binance runs simulated phishing attacks against its own employees and can fire staff who repeatedly fail the tests, according to Binance chief security officer Jimmy Su.
The fake attacks are conducted by Binance’s red team, an internal ethical hacking unit whose job is to break into systems to identify vulnerabilities.
“We do phishing attacks on our own employees on a monthly basis just so we understand if our security hygiene is improving,” Su told Cointelegraph. “The ones that have failed it, we will do remediation training.”
The measure shows the lengths crypto companies will go to prepare for social engineering attacks. Binance, the largest crypto exchange in the world, reports 323 million registered users, while DefiLlama estimates the exchange holds $137.7 billion in assets.
Jimmy Su, chief security officer at Binance. Source: Binance
In February, AMLBot estimated that 65% of crypto security incidents in 2025 were driven by social engineering. In April, Drift Protocol suffered a $285 million hack, which came after a long-term social engineering campaign.
Su said Binance has been running these simulated attacks for three to four years.
“In the beginning, the security hygiene left a lot to be desired. But after this amount of time, the company has improved significantly.”
One of the simulated attacks involves the red team posing as job recruiters, said Su.
One of the more well-known attack methods in recent years has been the “Zoom meeting attack,” where hackers trick victims into installing malware disguised as an update to the video conferencing app. Many of these attacks start with a fake job opportunity, though some use project funding or a partnership proposal as the lure.
In September 2025, a major Venus Protocol user lost roughly $13 million after a malicious Zoom client compromised his computer, leading him to grant an attacker control over his account. Venus paused the protocol and used an emergency governance vote to recover the assets, later returning positions worth $11.4 million to the victim.
“The interview process is just one scenario. There are other ones. For example, it could be that we are offering some kind of free conference invite just to try to collect personal information and see how many of them will actually fall for it,” said Su.
Su said employees are incentivized to perform well on the tests because the results are reflected in their performance reviews.
“If someone repeatedly fails the phishing-simulation attack, that will negatively impact their rating. That’s the incentive to be vigilant.”
Repeated, severe failures could lead to their rating to “bottom out,” which could see them dismissed, he said.
Magazine: Fears of AI-driven DeFi hack epidemic overstated for now — but not for long
Binance ‘red teams’ its own staff every month to keep hackers out
Cryptocurrency exchange Binance runs simulated phishing attacks against its own employees and can fire staff who repeatedly fail the tests, according to Binance chief security officer Jimmy Su.
The fake attacks are conducted by Binance’s red team, an internal ethical hacking unit whose job is to break into systems to identify vulnerabilities.
“We do phishing attacks on our own employees on a monthly basis just so we understand if our security hygiene is improving,” Su told Cointelegraph. “The ones that have failed it, we will do remediation training.”
The measure shows the lengths crypto companies will go to prepare for social engineering attacks. Binance, the largest crypto exchange in the world, reports 323 million registered users, while DefiLlama estimates the exchange holds $137.7 billion in assets.
Jimmy Su, chief security officer at Binance. Source: Binance
In February, AMLBot estimated that 65% of crypto security incidents in 2025 were driven by social engineering. In April, Drift Protocol suffered a $285 million hack, which came after a long-term social engineering campaign.
Su said Binance has been running these simulated attacks for three to four years.
“In the beginning, the security hygiene left a lot to be desired. But after this amount of time, the company has improved significantly.”
One of the simulated attacks involves the red team posing as job recruiters, said Su.
One of the more well-known attack methods in recent years has been the “Zoom meeting attack,” where hackers trick victims into installing malware disguised as an update to the video conferencing app. Many of these attacks start with a fake job opportunity, though some use project funding or a partnership proposal as the lure.
In September 2025, a major Venus Protocol user lost roughly $13 million after a malicious Zoom client compromised his computer, leading him to grant an attacker control over his account. Venus paused the protocol and used an emergency governance vote to recover the assets, later returning positions worth $11.4 million to the victim.
“The interview process is just one scenario. There are other ones. For example, it could be that we are offering some kind of free conference invite just to try to collect personal information and see how many of them will actually fall for it,” said Su.
Su said employees are incentivized to perform well on the tests because the results are reflected in their performance reviews.
“If someone repeatedly fails the phishing-simulation attack, that will negatively impact their rating. That’s the incentive to be vigilant.”
Repeated, severe failures could lead to their rating to “bottom out,” which could see them dismissed, he said.
Magazine: Fears of AI-driven DeFi hack epidemic overstated for now — but not for long
The fake attacks are conducted by Binance’s red team, an internal ethical hacking unit whose job is to break into systems to identify vulnerabilities.
“We do phishing attacks on our own employees on a monthly basis just so we understand if our security hygiene is improving,” Su told Cointelegraph. “The ones that have failed it, we will do remediation training.”
The measure shows the lengths crypto companies will go to prepare for social engineering attacks. Binance, the largest crypto exchange in the world, reports 323 million registered users, while DefiLlama estimates the exchange holds $137.7 billion in assets.
Jimmy Su, chief security officer at Binance. Source: Binance
In February, AMLBot estimated that 65% of crypto security incidents in 2025 were driven by social engineering. In April, Drift Protocol suffered a $285 million hack, which came after a long-term social engineering campaign.
Su said Binance has been running these simulated attacks for three to four years.
“In the beginning, the security hygiene left a lot to be desired. But after this amount of time, the company has improved significantly.”
One of the simulated attacks involves the red team posing as job recruiters, said Su.
One of the more well-known attack methods in recent years has been the “Zoom meeting attack,” where hackers trick victims into installing malware disguised as an update to the video conferencing app. Many of these attacks start with a fake job opportunity, though some use project funding or a partnership proposal as the lure.
In September 2025, a major Venus Protocol user lost roughly $13 million after a malicious Zoom client compromised his computer, leading him to grant an attacker control over his account. Venus paused the protocol and used an emergency governance vote to recover the assets, later returning positions worth $11.4 million to the victim.
“The interview process is just one scenario. There are other ones. For example, it could be that we are offering some kind of free conference invite just to try to collect personal information and see how many of them will actually fall for it,” said Su.
Su said employees are incentivized to perform well on the tests because the results are reflected in their performance reviews.
“If someone repeatedly fails the phishing-simulation attack, that will negatively impact their rating. That’s the incentive to be vigilant.”
Repeated, severe failures could lead to their rating to “bottom out,” which could see them dismissed, he said.
Magazine: Fears of AI-driven DeFi hack epidemic overstated for now — but not for long
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Robinhood in talks with Crypto.com over prediction markets: WSJThe company behind the cryptocurrency and stock trading app, Robinhood, is reportedly discussing plans to expand its existing prediction markets offering with crypto exchange Crypto.com.
According to a Friday Wall Street Journal report citing people familiar with the matter, Robinhood was in talks with Crypto.com to place yes-or-no event contracts supplied by the exchange. The trading company launched its prediction markets hub in March 2025, initially facilitated by Kalshi in order to comply with regulatory requirements from the US Commodity Futures Trading Commission (CFTC), and later using ForecastEx and Rotella.
The reported move came just days after Bernstein analysts raised the firm’s price target on Robinhood (HOOD) stock to $160 from $130 per share, based on the company’s outlook for prediction markets and tokenized equities. They predicted Robinhood’s revenue using prediction markets could reach $1.7 billion by 2028.
While Bernstein said in April that volumes in prediction markets could reach $1 trillion by 2030, many of the platforms face ongoing legal challenges in the United States between state and federal authorities. The CFTC has claimed to have “exclusive jurisdiction” over the companies’ event contracts, while gaming authorities in many states have filed lawsuits attempting to block or restrict their activities.
Robinhood in talks with Crypto.com over prediction markets: WSJ
The company behind the cryptocurrency and stock trading app, Robinhood, is reportedly discussing plans to expand its existing prediction markets offering with crypto exchange Crypto.com.
According to a Friday Wall Street Journal report citing people familiar with the matter, Robinhood was in talks with Crypto.com to place yes-or-no event contracts supplied by the exchange. The trading company launched its prediction markets hub in March 2025, initially facilitated by Kalshi in order to comply with regulatory requirements from the US Commodity Futures Trading Commission (CFTC), and later using ForecastEx and Rotella.
The reported move came just days after Bernstein analysts raised the firm’s price target on Robinhood (HOOD) stock to $160 from $130 per share, based on the company’s outlook for prediction markets and tokenized equities. They predicted Robinhood’s revenue using prediction markets could reach $1.7 billion by 2028.
While Bernstein said in April that volumes in prediction markets could reach $1 trillion by 2030, many of the platforms face ongoing legal challenges in the United States between state and federal authorities. The CFTC has claimed to have “exclusive jurisdiction” over the companies’ event contracts, while gaming authorities in many states have filed lawsuits attempting to block or restrict their activities.
According to a Friday Wall Street Journal report citing people familiar with the matter, Robinhood was in talks with Crypto.com to place yes-or-no event contracts supplied by the exchange. The trading company launched its prediction markets hub in March 2025, initially facilitated by Kalshi in order to comply with regulatory requirements from the US Commodity Futures Trading Commission (CFTC), and later using ForecastEx and Rotella.
The reported move came just days after Bernstein analysts raised the firm’s price target on Robinhood (HOOD) stock to $160 from $130 per share, based on the company’s outlook for prediction markets and tokenized equities. They predicted Robinhood’s revenue using prediction markets could reach $1.7 billion by 2028.
While Bernstein said in April that volumes in prediction markets could reach $1 trillion by 2030, many of the platforms face ongoing legal challenges in the United States between state and federal authorities. The CFTC has claimed to have “exclusive jurisdiction” over the companies’ event contracts, while gaming authorities in many states have filed lawsuits attempting to block or restrict their activities.
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Article
Bitcoin advocacy group to join US State Department’s ‘digital freedom’ programThe US Department State Department has launched a program to “advance diplomatic efforts on digital freedom and freedom of expression” using a Bitcoin (BTC) advocacy organization as a partner.
In a Friday X post, the Bitcoin Policy Institute (BPI) said that it would be a founding partner in the US State Department’s Freedom Tech Excellence Program (FTEP), alongside Palantir Technologies, Anduril Industries and the Victims of Communism Memorial Foundation. According to the organization, the program will allow its employees “to work alongside state department experts and defend digital freedoms around the world.”
“FTEP brings private sector talent to the Department for limited-term assignments to advance diplomatic efforts on key issues including online freedom of expression, privacy-enhancing technologies, countering digital surveillance, and responsible AI governance,” said the State Department.
Source: Bitcoin Policy Institute
Since its creation as a “non-partisan research and advocacy” organization in 2021, the BPI has endorsed attempts to codify US President Donald Trump’s executive order to establish a strategic crypto reserve into law. As of July, lawmakers in the US Congress have not passed legislation to follow Trump’s March 2025 executive order.
Bitcoin advocacy group to join US State Department’s ‘digital freedom’ program
The US Department State Department has launched a program to “advance diplomatic efforts on digital freedom and freedom of expression” using a Bitcoin (BTC) advocacy organization as a partner.
In a Friday X post, the Bitcoin Policy Institute (BPI) said that it would be a founding partner in the US State Department’s Freedom Tech Excellence Program (FTEP), alongside Palantir Technologies, Anduril Industries and the Victims of Communism Memorial Foundation. According to the organization, the program will allow its employees “to work alongside state department experts and defend digital freedoms around the world.”
“FTEP brings private sector talent to the Department for limited-term assignments to advance diplomatic efforts on key issues including online freedom of expression, privacy-enhancing technologies, countering digital surveillance, and responsible AI governance,” said the State Department.
Source: Bitcoin Policy Institute
Since its creation as a “non-partisan research and advocacy” organization in 2021, the BPI has endorsed attempts to codify US President Donald Trump’s executive order to establish a strategic crypto reserve into law. As of July, lawmakers in the US Congress have not passed legislation to follow Trump’s March 2025 executive order.
In a Friday X post, the Bitcoin Policy Institute (BPI) said that it would be a founding partner in the US State Department’s Freedom Tech Excellence Program (FTEP), alongside Palantir Technologies, Anduril Industries and the Victims of Communism Memorial Foundation. According to the organization, the program will allow its employees “to work alongside state department experts and defend digital freedoms around the world.”
“FTEP brings private sector talent to the Department for limited-term assignments to advance diplomatic efforts on key issues including online freedom of expression, privacy-enhancing technologies, countering digital surveillance, and responsible AI governance,” said the State Department.
Source: Bitcoin Policy Institute
Since its creation as a “non-partisan research and advocacy” organization in 2021, the BPI has endorsed attempts to codify US President Donald Trump’s executive order to establish a strategic crypto reserve into law. As of July, lawmakers in the US Congress have not passed legislation to follow Trump’s March 2025 executive order.
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Wise expected to resubmit US charter application under GENIUSPayments company Wise is expected to change its strategy for applying for a charter license with the US Office of the Comptroller of the Currency (OCC) to one “under a GENIUS Act framework,” the legislation to regulate stablecoins in the country.
According to a Friday research note by investment banking group William Blair, Wise will likely not shift its position on payment stablecoins with the new OCC application, despite being denied a charter to establish a national trust bank on Tuesday. The OCC said in its rejection that the company could not show it had an effective Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) compliance program and had “other illicit finance activity risks.”
“Wise is focused on lowering the cost of cross-border transactions, agnostic of the rail,” said William Blair on the move to apply under GENIUS.
The GENIUS Act, signed into law in July 2025, offers a framework for payment stablecoin providers in the United States, pending finalized regulations to be approved by federal agencies. However, regulators missed a crucial deadline last week to provide guidance on implementation of the law before its effective date in January 2027.
Following the passage of the stablecoin bill, the OCC has approved several applications from digital asset companies for national trust charters, including Circle, Ripple Labs, Crypto.com and Coinbase. Cointelegraph reached out to Wise for comment but did not receive an immediate response.
Wise expected to resubmit US charter application under GENIUS
Payments company Wise is expected to change its strategy for applying for a charter license with the US Office of the Comptroller of the Currency (OCC) to one “under a GENIUS Act framework,” the legislation to regulate stablecoins in the country.
According to a Friday research note by investment banking group William Blair, Wise will likely not shift its position on payment stablecoins with the new OCC application, despite being denied a charter to establish a national trust bank on Tuesday. The OCC said in its rejection that the company could not show it had an effective Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) compliance program and had “other illicit finance activity risks.”
“Wise is focused on lowering the cost of cross-border transactions, agnostic of the rail,” said William Blair on the move to apply under GENIUS.
The GENIUS Act, signed into law in July 2025, offers a framework for payment stablecoin providers in the United States, pending finalized regulations to be approved by federal agencies. However, regulators missed a crucial deadline last week to provide guidance on implementation of the law before its effective date in January 2027.
Following the passage of the stablecoin bill, the OCC has approved several applications from digital asset companies for national trust charters, including Circle, Ripple Labs, Crypto.com and Coinbase. Cointelegraph reached out to Wise for comment but did not receive an immediate response.
According to a Friday research note by investment banking group William Blair, Wise will likely not shift its position on payment stablecoins with the new OCC application, despite being denied a charter to establish a national trust bank on Tuesday. The OCC said in its rejection that the company could not show it had an effective Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) compliance program and had “other illicit finance activity risks.”
“Wise is focused on lowering the cost of cross-border transactions, agnostic of the rail,” said William Blair on the move to apply under GENIUS.
The GENIUS Act, signed into law in July 2025, offers a framework for payment stablecoin providers in the United States, pending finalized regulations to be approved by federal agencies. However, regulators missed a crucial deadline last week to provide guidance on implementation of the law before its effective date in January 2027.
Following the passage of the stablecoin bill, the OCC has approved several applications from digital asset companies for national trust charters, including Circle, Ripple Labs, Crypto.com and Coinbase. Cointelegraph reached out to Wise for comment but did not receive an immediate response.
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North Korea arrests bank hacking ring tied to crypto laundering: ReportNorth Korean authorities have reportedly arrested a group of former state cyber operators and IT specialists accused of hacking two state banks and laundering stolen funds through cryptocurrency.
South Korean outlet Daily NK reported Thursday, citing an anonymous source in Pyongyang, that the group allegedly hacked the internal networks of North Korea’s central bank and the Foreign Trade Bank, converting stolen state funds into cryptocurrency before laundering them through China-based brokers.
Cointelegraph could not independently verify the report.
If confirmed, the reported arrests would mark a rare case of North Korean cyber operators being accused of stealing from their own government’s financial institutions.
Pyongyang is widely accused of directing state-backed hacking groups to steal from crypto companies to generate revenue and circumvent international sanctions.
Daily NK is a Seoul-based specialist news outlet that relies on a network of sources inside North Korea. Reporting from North Korea is difficult to verify independently because of the country’s restrictions on access and information.
North Korea arrests bank hacking ring tied to crypto laundering: Report
North Korean authorities have reportedly arrested a group of former state cyber operators and IT specialists accused of hacking two state banks and laundering stolen funds through cryptocurrency.
South Korean outlet Daily NK reported Thursday, citing an anonymous source in Pyongyang, that the group allegedly hacked the internal networks of North Korea’s central bank and the Foreign Trade Bank, converting stolen state funds into cryptocurrency before laundering them through China-based brokers.
Cointelegraph could not independently verify the report.
If confirmed, the reported arrests would mark a rare case of North Korean cyber operators being accused of stealing from their own government’s financial institutions.
Pyongyang is widely accused of directing state-backed hacking groups to steal from crypto companies to generate revenue and circumvent international sanctions.
Daily NK is a Seoul-based specialist news outlet that relies on a network of sources inside North Korea. Reporting from North Korea is difficult to verify independently because of the country’s restrictions on access and information.
South Korean outlet Daily NK reported Thursday, citing an anonymous source in Pyongyang, that the group allegedly hacked the internal networks of North Korea’s central bank and the Foreign Trade Bank, converting stolen state funds into cryptocurrency before laundering them through China-based brokers.
Cointelegraph could not independently verify the report.
If confirmed, the reported arrests would mark a rare case of North Korean cyber operators being accused of stealing from their own government’s financial institutions.
Pyongyang is widely accused of directing state-backed hacking groups to steal from crypto companies to generate revenue and circumvent international sanctions.
Daily NK is a Seoul-based specialist news outlet that relies on a network of sources inside North Korea. Reporting from North Korea is difficult to verify independently because of the country’s restrictions on access and information.
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Fidelity joins push for Senate passage of CLARITY ActFidelity called on the US Senate to pass the CLARITY Act on Friday, saying clear digital asset regulations are needed to strengthen investor confidence, provide certainty for market participants and reinforce US leadership in global crypto markets.
The company joins a growing coalition of financial firms and crypto organizations urging US lawmakers to advance digital asset market structure legislation.
Earlier Friday, the Crypto Council for Innovation, the Digital Chamber and the Blockchain Association called on Senate leaders to bring the bill to the floor. Coinbase CEO Brian Armstrong also called for a full Senate floor vote on Wednesday.
The CLARITY Act would establish a regulatory framework for digital assets in the US. The bill needs 60 votes to pass the Senate, where Republicans hold a 52-47 majority. Republicans released updated bill text on Wednesday, but some Democrats argued the ethics provisions do not go far enough to address corruption concerns.
Fidelity is ranked as the world’s third-largest asset manager by the Sovereign Wealth Fund Institute. It reported $7.1 trillion in managed assets in its 2025 annual report.
Fidelity joins push for Senate passage of CLARITY Act
Fidelity called on the US Senate to pass the CLARITY Act on Friday, saying clear digital asset regulations are needed to strengthen investor confidence, provide certainty for market participants and reinforce US leadership in global crypto markets.
The company joins a growing coalition of financial firms and crypto organizations urging US lawmakers to advance digital asset market structure legislation.
Earlier Friday, the Crypto Council for Innovation, the Digital Chamber and the Blockchain Association called on Senate leaders to bring the bill to the floor. Coinbase CEO Brian Armstrong also called for a full Senate floor vote on Wednesday.
The CLARITY Act would establish a regulatory framework for digital assets in the US. The bill needs 60 votes to pass the Senate, where Republicans hold a 52-47 majority. Republicans released updated bill text on Wednesday, but some Democrats argued the ethics provisions do not go far enough to address corruption concerns.
Fidelity is ranked as the world’s third-largest asset manager by the Sovereign Wealth Fund Institute. It reported $7.1 trillion in managed assets in its 2025 annual report.
The company joins a growing coalition of financial firms and crypto organizations urging US lawmakers to advance digital asset market structure legislation.
Earlier Friday, the Crypto Council for Innovation, the Digital Chamber and the Blockchain Association called on Senate leaders to bring the bill to the floor. Coinbase CEO Brian Armstrong also called for a full Senate floor vote on Wednesday.
The CLARITY Act would establish a regulatory framework for digital assets in the US. The bill needs 60 votes to pass the Senate, where Republicans hold a 52-47 majority. Republicans released updated bill text on Wednesday, but some Democrats argued the ethics provisions do not go far enough to address corruption concerns.
Fidelity is ranked as the world’s third-largest asset manager by the Sovereign Wealth Fund Institute. It reported $7.1 trillion in managed assets in its 2025 annual report.
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