CoinPhoton

Binance Records Inflows as 77 Crypto Exchanges Lose Nearly $1 Billion
Binance recorded a net inflow of $36.9 million as of early July, bucking a broader industry trend in which 77 global crypto exchanges posted combined net outflows of nearly $1 billion since June, according to CoinDesk Research.
The divergence suggests that users are reducing exposure to smaller or less transparent platforms while concentrating funds on exchanges with deeper liquidity, verifiable reserves and stronger security infrastructure.
Binance currently reports USDT and USDC reserve ratios above 100% and maintains an approximately $1 billion Secure Asset Fund for Users, or SAFU, in publicly visible onchain wallets.
The exchange also controls around 24% of global spot trading volume, 36% of perpetual futures activity and roughly 55% of centralized exchange reserve assets.
The broader outflows came during a period of intense market pressure. June saw $4.51 billion in Bitcoin ETF redemptions, stablecoin inflows to exchanges fell to $2.3 billion, and investor sentiment remained in extreme fear territory.
While Binance’s $36.9 million inflow is modest in absolute terms, it stands out as a sign of capital concentration during market stress, with users appearing to prioritize platform solvency, liquidity and risk controls over broader exchange diversification.

Nvidia Leads 37-Member Open AI Security Alliance
Nvidia and 36 other technology companies have formed the Open Secure AI Alliance to develop open-source tools for testing, auditing and defending AI systems.
Founding members include Microsoft, IBM, Red Hat, Cloudflare, CrowdStrike, Palantir, Databricks, Hugging Face, SpaceXAI and the Linux Foundation. OpenAI, Anthropic and Google are notably absent from the initial membership list.
The alliance argues that security teams need AI models and tools they can inspect, modify and operate on their own infrastructure. Nvidia said closed systems can obstruct incident response because they may fail to distinguish defensive investigations from malicious activity.
The initiative follows a reported breach involving Hugging Face, where closed AI tools allegedly blocked parts of the forensic analysis. Hugging Face instead used the open-weight GLM 5.2 model on its own infrastructure to review more than 17,000 actions and help contain the intrusion.
Members are contributing their own security technology. Nvidia released NOOA, a framework for evaluating and auditing AI-agent behavior, while Microsoft contributed MDASH, a multi-agent system designed to identify exploitable software vulnerabilities. SpaceXAI also open-sourced its Grok Build coding agent and said it plans to release Grok model weights.
The alliance launches as cybersecurity risks rise across both traditional technology systems and crypto networks, where attackers increasingly exploit trusted controls and operational weaknesses rather than breaking cryptography itself.
$NVDAB

Bitcoin Faces Major Volatility Test From Fed, Inflation and US-Iran Tensions
Bitcoin entered the final week of July facing several potential volatility catalysts, including the Federal Reserve’s interest-rate decision, fresh US inflation data and developments in the US-Iran conflict.
Markets currently assign a meaningful chance to another rate hike as Treasury yields remain elevated. The Fed is due to announce its decision on Wednesday, followed by the June Personal Consumption Expenditures inflation report on Thursday. Analysts expect annual PCE inflation to ease from the previous three-year high of 4.1%, although any surprise could quickly reshape expectations for monetary policy.
Geopolitical risks remain another major driver. Oil prices dropped after the United States and Iran paused strikes, reducing immediate inflation concerns and supporting risk assets. However, renewed hostilities could reverse that move and pressure Bitcoin, equities and other speculative markets.
Bitcoin recently reached around $65,680 but remains trapped between important long-term technical levels. Analysts warned that increasing seller volume near resistance could trigger another rejection, while continued price compression may eventually produce a sharp breakout in either direction.
Onchain data provides a more constructive signal. Bitcoin inflows from large holders to Binance have fallen by as much as 44% since mid-June, suggesting reduced selling pressure from whales. Retail inflows declined by only 22% and are now roughly twice as large as whale inflows.
The Fed decision is therefore expected to test whether Bitcoin can break above its current range or fall back toward lower support as traders react to interest rates, inflation and geopolitical developments.
$BTC

BNY Mellon Unit Joins EU MiCA Register as Licensed Providers Reach 309
BNY Mellon’s European subsidiary has joined the European Union’s MiCA register as regulators added 15 newly authorized crypto-asset service providers.
The latest update from the European Securities and Markets Authority increased the total number of licensed CASPs to 309. New entries included BNY SA/NV, three German banks and crypto platforms such as BitPay, Coinify and Bleap.
Germany and Denmark led the latest expansion with three new providers each, while Bulgaria and Latvia added two apiece. Belgium, Cyprus, Liechtenstein and the Netherlands each contributed one new registration.
The update is ESMA’s third expansion of the register since MiCA’s transitional deadline ended on July 1. It follows a previous addition of 14 providers, including Ripple Payments Europe.
The growing register shows that MiCA implementation remains ongoing as companies complete licensing procedures across different EU jurisdictions. However, industry executives have warned that the cost of maintaining compliance could place significant pressure on smaller crypto firms.

Triple-A Treasury Wallet Breach Causes Estimated $11.8M Loss
Stablecoin payments company Triple-A confirmed that unauthorized access to its treasury wallets resulted in the theft of company-owned digital assets.
The Singapore-based firm detected the breach on Saturday and placed some services into maintenance mode for around three hours while securing the affected infrastructure. All services have since resumed, with transactions and settlements processing normally.
Triple-A said customer funds were unaffected because it does not custody clients’ digital assets and keeps customer money separately in trust accounts with safeguarding institutions.
The company did not disclose the size or cause of the loss, although onchain investigator Specter estimated that approximately $11.8 million was stolen.
Triple-A said the losses were limited to operational accounts and would be covered by its treasury reserves. It is working with cybersecurity experts, blockchain forensic firms and the Singapore Police Force to investigate the breach, trace the stolen assets and pursue possible recovery.

Brazil Police Bust Alleged Crypto-Linked Cocaine Laundering Network
Brazilian authorities have dismantled an alleged international drug trafficking organization suspected of shipping approximately 6.5 metric tons of cocaine and laundering billions of Brazilian reais through cryptocurrency and other assets.
Federal and state police arrested nine people and carried out 44 search-and-seizure warrants across São Paulo, Minas Gerais, Santa Catarina and Espírito Santo. Courts also authorized the freezing of up to 1 billion reais, or about $197 million, in assets.
Investigators said the organization concealed criminal proceeds through shell companies, crypto-enabled illicit money brokers, luxury goods, real estate and other laundering channels.
The suspects could face charges including international drug trafficking, money laundering and participation in a transnational criminal organization.
The operation highlights the growing use of cryptocurrency intermediaries in cross-border drug finance. In May, the U.S. Treasury also sanctioned six Ethereum addresses allegedly connected to a Sinaloa Cartel-linked laundering network.

Circle Acquires IBM’s Blockchain Patent Portfolio
Circle has agreed to acquire IBM’s blockchain patent portfolio, adding nearly 1,000 issued patents and more than 680 patent families worldwide.
The $USDC
issuer did not disclose the financial terms of the transaction. Circle shares rose more than 2% in premarket trading following the announcement.
IBM’s portfolio is particularly strong in blockchain-based supply chain technology, including systems designed to improve transparency and product tracking across multiple intermediaries.
Circle said the acquisition would make it a leading holder of blockchain patents in the United States and strengthen the intellectual property supporting its internet-native financial infrastructure.
IBM was one of the most active blockchain patent filers during the industry’s earlier expansion, submitting more than 500 related applications during 2018 and 2019, although its filing activity has since slowed.
Circle General Counsel Sarah Wilson said the deal would expand the company’s ability to develop infrastructure for global digital finance.

#Binance Android App Disappears From Google Play in Some EU Markets
Binance’s Android application has become unavailable on Google Play in parts of the European Union as the exchange faces questions over its compliance with the bloc’s Markets in Crypto-Assets framework.
A user in Spain reported that the app no longer appeared in Google Play searches, although it remained available through Oppo’s App Market. The Binance app was still accessible in Poland, suggesting the restriction is limited to certain EU countries rather than the entire region.
Reports of the app’s removal began circulating after OKX Europe CEO Erald Ghoos linked the change to MiCA licensing requirements. Binance had previously withdrawn its MiCA application in Greece shortly before the framework’s transitional period ended on July 1.
The exchange has since informed some European users that access to certain services would be restricted, while withdrawals would remain available. Binance had not publicly explained the Google Play changes at the time of publication.
$BNB

Coinbase CEO Says AI Agents Will Drive Crypto Adoption
Coinbase CEO Brian Armstrong said the rise of artificial intelligence will strengthen crypto adoption rather than replace it, as autonomous AI agents will need programmable money to make payments and access digital services.
Armstrong highlighted Base, USDC and the x402 payment protocol as the core infrastructure for what Coinbase calls agentic finance. Together, they allow software agents to send stablecoin payments, purchase data and use APIs without bank accounts, credit cards or manual checkout processes.
Base provides the low-cost blockchain network, USDC acts as the payment asset, and x402 enables automated payments through the internet’s HTTP “402 Payment Required” standard.
According to Chainalysis, x402-related agentic activity on Base surpassed 100 million transactions in June, roughly nine months after tracking began. The wallets involved were generally newer, held smaller balances and interacted with a wider range of assets than typical Base users.
Armstrong argued that AI’s rapid growth makes crypto infrastructure more important because traditional financial systems are not designed for autonomous machine-to-machine transactions.

HashKey Unifies Regional Crypto Exchanges Under One Platform
Hong Kong-based digital asset company HashKey Holdings has combined HashKey Exchange and HashKey Global into a single platform and mobile application.
Users in Hong Kong, Singapore, Dubai, Bermuda and other international markets will access the same interface, while HashKey continues to manage licensing, compliance and customer services separately for each jurisdiction.
The company described the approach as “unified entry, localized compliance.” Instead of maintaining different applications for each market, HashKey will use one front end and automatically place users under the appropriate regional regulatory framework.
The restructuring marks a shift away from the crypto industry’s earlier model, in which licensed exchanges were often separated into regional platforms to simplify compliance.
Other major exchanges use similar structures. OKX operates a unified website and application while assigning customers to different legal entities based on residence. Kraken has also consolidated acquired platforms and now serves European users through its Irish entity licensed under the EU’s MiCA framework.
HashKey said the unified model is intended to simplify the user experience without weakening local regulatory controls.

SparkKitty Malware Steals Crypto Seed Phrases From Phone Photos
Security researchers at Check Point have uncovered SparkKitty, a cross-platform malware family that scans photos on Android and iOS devices for cryptocurrency wallet seed phrases.
The malware uses optical character recognition to extract text from screenshots and images, including recovery phrases, passwords and QR codes. The stolen data is then sent to attacker-controlled servers.
SparkKitty was distributed through Apple’s App Store, Google Play and third-party Android channels. One infected Android app, called SOEX, exceeded 10,000 downloads before being removed. Other versions were hidden inside fake crypto services, messaging platforms, modified TikTok apps and gambling applications.
On infected devices, the apps request access to the photo library and continuously scan both existing and newly added images. Users who store wallet recovery phrases as screenshots face the highest risk, because anyone who obtains the phrase can take full control of the associated wallet.
Check Point advised crypto users to avoid photographing seed phrases, restrict app access to photo libraries and store recovery information offline, such as on paper or with a dedicated hardware-wallet backup.

Kraken Parent Payward Acquires Magic Labs’ Embedded Wallet Business
Payward, the parent company of Kraken, has agreed to acquire Magic Labs’ embedded wallet business through an asset sale.
Magic Labs has created more than 60 million wallets since 2018 and supports over 200,000 developers. Its wallet customers will move to Payward Services, while the two companies will remain legally independent after the transaction closes.
Following the sale, Magic Labs will rebrand as Newton Labs and focus entirely on Newton Protocol, an authorization layer designed to enforce compliance, security and risk policies before transactions settle onchain.
Newton Protocol entered mainnet beta in June 2026. Its first product, VaultKit, allows institutional vaults to embed identity, compliance and risk controls directly into transactions. Newton Labs also plans to apply the technology to stablecoins, tokenized real-world assets and agent-driven financial services.
The acquisition extends Payward’s expansion beyond crypto trading and into broader financial infrastructure. The company previously agreed to acquire derivatives exchange Bitnomial for up to $550 million and stablecoin payments firm Reap Technologies for $600 million.

STORJ Drops 20% After Storj Labs Files for Chapter 11
$STORJ
fell around 20% in 24 hours to approximately $0.06 after Storj Labs filed for voluntary Chapter 11 bankruptcy protection on July 26.
The decentralized storage provider said the restructuring is intended to resolve legacy liabilities linked to previous acquisitions and non-core operations. Storj expects its storage network, customer services and daily operations to continue during the process, subject to court approval.
The company described the filing as a way to reduce financial burdens, refocus on its core decentralized storage business and better align ownership among management, token holders, investors and the Storj community.
The bankruptcy adds Storj to a growing list of crypto companies facing financial difficulties in July. BitMEX announced it would permanently shut down in September, while Movement Labs and former bitcoin miner Poolin filed for Chapter 11. BitMart also began winding down its trading platform.
Despite assurances that operations will continue, STORJ’s sharp decline shows that investors remain concerned about potential dilution, restructuring risks and the token’s future role following the bankruptcy process.

Benchmark Sees 522% Upside for Strategy Despite Bitcoin Buying Pause
Benchmark Equity Research reiterated its Buy rating and $570 price target on Strategy, arguing that the company’s five-week pause in bitcoin purchases reflects disciplined capital management rather than a change in its long-term strategy.
The target represents about 522% upside from Strategy’s Friday closing price of $91.67.
Strategy recently increased its U.S. dollar reserve to $3.75 billion after selling approximately 5.4 million MSTR shares for $544.5 million. Analyst Mark Palmer said the larger cash reserve gives the company greater flexibility to meet preferred-stock dividend obligations and resume bitcoin purchases when market conditions become more favorable.
Benchmark also highlighted Strategy’s Digital Credit Capital Framework, which allows management to allocate capital among bitcoin acquisitions, cash reserves and securities repurchases. The company recently repurchased $25 million of STRC preferred shares under the program.
Strategy currently holds 843,775 BTC, acquired at an average price of $75,476 per coin. The position is valued at roughly $54 billion and represents more than 4% of bitcoin’s maximum supply.
Although Strategy has not purchased bitcoin since June 22, CEO Phong Le said the company remains committed to expanding its bitcoin holdings over the long term.
$BTC

Strategy Goes Five Weeks Without Buying Bitcoin, Builds $3.75B Cash Reserve
Strategy made no bitcoin purchases for a fifth consecutive week, leaving its holdings unchanged at 843,775 BTC as of July 26.
Instead, the company continued prioritizing liquidity. Strategy sold around 5.4 million $MSTRB
shares for $544.5 million during the week and increased its US dollar reserve by $525 million to $3.75 billion. The cash reserve is intended to fund preferred-stock dividends and debt interest and currently covers approximately 2.1 years of dividend obligations.
Strategy’s bitcoin holdings were acquired for about $63.69 billion at an average cost of $75,476 per BTC. At current market prices, the position is worth roughly $54 billion, leaving the company with several billion dollars in unrealized losses.
The company also repurchased 288,930 STRC preferred shares for $25 million under its recently launched digital credit securities repurchase program.
Despite the purchasing pause, CEO Phong Le said Strategy remains committed to accumulating bitcoin over the long term. He added that the company would only become seriously concerned about its debt exposure if bitcoin fell toward the $8,000–$10,000 range.
The latest figures suggest Strategy is temporarily shifting away from aggressive bitcoin accumulation and toward strengthening its balance sheet through share sales and larger cash reserves.
$BTC

Binance Tests Employees With Simulated Phishing Attacks
Binance conducts monthly simulated phishing attacks against its employees and may dismiss staff who repeatedly fail the tests, according to chief security officer Jimmy Su.
The exercises are run by the exchange’s internal red team, which poses as recruiters, conference organizers or potential business partners to test whether employees disclose information or install malicious software.
Workers who fail must complete additional security training, while repeated failures can affect performance ratings and, in severe cases, lead to termination.
Binance has conducted the program for three to four years as social engineering becomes a leading source of crypto security breaches. AMLBot estimated that such tactics were involved in 65% of industry security incidents in 2025.
The exchange says the tests have significantly improved employee security awareness and reduced vulnerability to attacks involving fake job offers, malicious meeting software and fraudulent partnership proposals.

Wise to Reapply for U.S. Trust Charter Under GENIUS Act
Wise plans to revise its U.S. licensing strategy after the Office of the Comptroller of the Currency rejected its application for a national trust bank charter.
The OCC cited weaknesses in Wise’s anti-money laundering and counter-terrorist financing controls, along with broader illicit-finance risks.
Wise said it will submit a new application under the GENIUS Act framework, which establishes rules for payment stablecoin providers in the United States. Analysts at William Blair said the move is unlikely to change Wise’s broader position on stablecoins, as the company remains focused on reducing cross-border payment costs regardless of the technology used.
The rejection comes despite the OCC approving similar trust charters for several digital asset companies, including Circle, Ripple, Crypto.com and Coinbase.

Dango to Shut Down as Crypto Platform Closures Accelerate
Layer-1 blockchain Dango will halt trading on its perpetual DEX on Wednesday and shut down its network entirely on Aug. 13.
The project said it could no longer see a viable path to sustainable commercial success. Founder Larry Liu cited cash shortages, legal challenges, team departures and difficult market conditions.
Dango launched its mainnet in January after raising $3.6 million in 2024. Its perpetual exchange went live in April but suffered a roughly $410,000 exploit only days later. The funds were eventually returned in exchange for a bug bounty.
The platform also struggled to compete with larger rivals. Dango held less than $391,000 in perpetual open interest, compared with more than $11 billion on Hyperliquid.
Dango joins BitMEX, Odos Protocol and Satori Finance in a recent wave of crypto shutdowns, highlighting growing pressure on smaller platforms as liquidity concentrates among market leaders and operating costs rise.

Fidelity Urges Senate to Pass CLARITY Act
Fidelity has called on the U.S. Senate to approve the CLARITY Act, arguing that clearer digital asset rules would strengthen investor confidence, give market participants greater certainty and reinforce U.S. leadership in global crypto markets.
The asset management giant joins Coinbase and several major industry groups pushing lawmakers to bring the bill to a full Senate vote.
The CLARITY Act would establish a federal market structure framework for digital assets. It requires 60 Senate votes to pass, while Republicans currently hold 52 seats.
Although Republicans released updated bill text this week, some Democrats said its ethics provisions remain insufficient to address potential conflicts of interest and corruption concerns.
Fidelity reported $7.1 trillion in managed assets in its 2025 annual report, making its support a significant endorsement from the traditional financial sector.

North Korea Reportedly Arrests Former State Hackers
North Korean authorities have reportedly arrested former state cyber operators and IT specialists accused of hacking the country’s own financial institutions.
According to South Korean outlet Daily NK, the group allegedly breached the internal systems of North Korea’s central bank and Foreign Trade Bank, converted stolen state funds into cryptocurrency and laundered the assets through brokers based in China.
The report has not been independently verified. Information from North Korea is difficult to confirm because of the country’s strict controls on access and communication.
The case would be highly unusual if confirmed, as North Korea is widely accused of using state-backed hackers to steal cryptocurrency from foreign companies, rather than targeting its own banks.