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According to WuBlockchain Data, as of August 17, open interest in Sandisk (SNDK) stock perpetuals reached $1.73 billion, the highest among all stock perpetuals. The figure was approximately 1.86 times SPCX’s $928 million and 3.51 times SKHX’s $493 million. SNDK is now the crypto market’s largest stock perpetual by open interest, while its trading volume also significantly exceeds that of most storage-sector peers, including MU.
Notably, several firms providing liquidity for SNDK and related derivatives are also deeply involved in digital asset markets. Cboe directories list Susquehanna (SIG) and IMC as the designated primary market makers for SNDK options on Cboe Options and EDGX Options, respectively. MIAX documents show that Citadel Securities was appointed primary lead market maker when options on the T-REX 2X Long SNDK Daily Target ETF (SNDU) were launched.
In addition, a Schedule 13G filed by Jane Street on August 5 shows that, as of July 30, the firm beneficially owned 7.4094 million Sandisk shares, representing a 5.0% stake. Jane Street is one of the world’s largest electronic market makers and was also an early mover among traditional financial institutions in digital asset trading.

Vitalik Buterin said the Bitcoin community deserves credit for work on technologies such as Utreexo, adding that Ethereum’s current scaling proposals are exploring similar ideas. The goal is to support a spectrum of state models, ranging from UTXO-like state to dynamic state, so that most Ethereum activity can scale substantially without significantly compromising decentralization, ease of running nodes, or censorship resistance.

More than 1,700 unlicensed crypto platforms were required to stop serving EU users after MiCA took full effect on July 1, while only 323 firms held valid MiCA authorization at the time, potentially forcing up to 10 million users to move their assets. European regulators have warned that scammers are exploiting the transition by impersonating regulators or licensed exchanges and sending fake migration notices to direct users to fraudulent platforms. Users are advised to verify service providers against official MiCA registers before transferring funds.

CZ said he plans to donate the BNB and 币安人生 tokens held in the wallet address he used while testing Trust Wallet to Giggle Academy, then stop using the address entirely, effectively turning it into a burn address. He said the wallet had become cluttered with unsolicited meme coins, and attempts to burn some of them only led to more tokens being sent in and further community speculation around his on-chain activity.

Cardano has outlined a two-phase rollout for its upcoming Dijkstra era. Phase 1, targeting Q4 2026 code completion, will activate Ouroboros Linear Leios (CIP-164) to increase throughput through supplementary Endorser Blocks, while also introducing nested transactions (CIP-118), guard scripts (CIP-112), account-address enhancements (CIP-159) and simpler staking-reward withdrawals (CIP-181).
Phase 2, targeted for Q2 2027, will activate Ouroboros Peras (CIP-140), adding a stake-pool voting layer designed to accelerate settlement. Both phases will undergo testnet deployment and on-chain governance approval before mainnet activation.

Crypto wallet provider SafePal disclosed a security incident involving an authorization flaw in an order-tracking plugin that allowed unauthorized access to customer order information. Approximately 39,798 customers who placed orders between March 2, 2025 and April 11, 2026 were affected, with exposed data including names, email addresses, shipping addresses, phone numbers and purchase details. SafePal said seed phrases, private keys, wallet passwords, payment information and government-issued ID numbers were not affected, and no evidence was found that wallet access or customer funds were compromised.

According to Israeli media Calcalist, Bits of Gold, Israel’s largest regulated crypto broker, is investigating a potential data leak that may have exposed the personal information of roughly 200,000 customers, potentially affecting most of its user base. Bits of Gold received Israel’s first VASP license in 2022 and was later approved to launch BILS, a stablecoin pegged 1:1 to the Israeli shekel.

South Korea Tightens Cross-Border Crypto Transfers, Hong Kong-Licensed HKDAP Faces Security and Compliance Concerns, Russia Expands Long-Term Mining Restrictions, Cambodia Moves to Draft Digital Asset Legislation, and Deribit Secures a Dubai VARA Broker-Dealer License. For the complete article and weekly curated reports, subscribe to our Substack:

1. South Korea Tightens Access to Overseas Exchanges: Identity‑and‑Purpose Verification Added for Cross‑Border Crypto Transfers link
Following the removal of overseas‑exchange apps including Bybit, MEXC and HTX from South Korea’s local Google Play store, South Korea is further tightening workflows for crypto‑asset transfers to offshore platforms. Under the amended Enforcement Decree of the Act on Reporting and Using Specified Financial Transaction Information, domestic exchanges will henceforth decide whether to permit outbound transfers based on the risk tier of overseas platforms. When sending funds to certain offshore exchanges or personal wallets, users may be required to prove account ownership, state transaction purposes and disclose fund sources; transfers can be delayed or rejected if submitted information is insufficient. Any relevant single‑transaction exceeding 10 million won will be subject to exchanges’ in‑house suspicious‑transaction monitoring systems. The provisions shall enter into force six months upon official promulgation.
2. Licensed Hong Kong HKD‑Pegged Stablecoin HKDAP Contract Carries Multiple Security and Compliance Risks link
After reviewing the Ethereum mainnet contract of Hong‑Kong‑licensed Hong Kong dollar stablecoin HKDAP, blockchain security firm BlockSec stated that it has multiple security and compliance issues, including failed KYC revocation logic, lack of actual on‑chain validation for KYC proofs, and excessive concentration of certain high‑risk permissions. BlockSec pointed out that operations such as minting, freezing, pausing and forced burning of HKDAP can be partially performed by a single role, and the governance process lacks a timelock. It argued that the relevant design is inconsistent with HKMA’s regulatory guidance on high‑risk operations and separation of duties. HKDAP is issued by Anchorpoint Financial, which was co‑founded by Standard Chartered Hong Kong, HKT and Animoca Brands. Anchorpoint is one of Hong Kong’s first two licensed stablecoin issuers.
3. Crypto Mining Banned in Moscow and Parts of Kursk Region, Russia; Restrictions Effective Through End‑2032 link
Under Russian Government Decree №936, cryptocurrency mining and participation in mining pools are banned year‑round in Moscow City, Moscow Oblast and parts of Kursk Oblast, with restrictions remaining in force until December 31, 2032. Russia’s Ministry of Energy stated the measure is mainly intended to mitigate capacity‑shortage risks caused by energy‑intensive mining facilities connecting to power grids. The current crypto‑mining load on Moscow’s power system stands at around 1 GW, while local data‑center capacity may rise to 3.6 GW by 2032, accounting for approximately 17 percent of peak power demand, second only to the United States. Russia has previously imposed long‑term mining restrictions across multiple regions, while still permitting domestically mined cryptocurrency to be used for foreign‑trade settlement under specific conditions.
4. Russian Banks Pre‑Emptively Tighten USDT Scrutiny, Mandating Firms Verify Against Unlaunched Central‑Bank Approved Exchanger List link
Some Russian banks serving import‑export enterprises have begun to require corporate clients to state the economic purpose of USDT purchases and verify whether counterparties are listed in the Central Bank of Russia’s register of digital‑currency exchange operators. However, the register system will only be established when new regulations take effect on September 1, making such verification practically impossible at present. Sovcombank has confirmed that it is requesting supplementary relevant information from some of its clients.
5. Kazakhstan Mints 7,200 BTC Over Three‑Plus Years With Over 465,000 Registered Mining Rigs link
Kazakhstan’s Ministry of Artificial Intelligence and Digital Development stated that from early 2023 to May 2026, local licensed mining companies and mining pools collectively mined approximately 7,200 BTC. Output peaked in 2024 at around 3,400 BTC, followed by 2,300 BTC in 2025 and 519.5 BTC in the first five months of 2026. There are currently 78 licensed mining operators nationwide with over 465,000 registered mining rigs. Mining‑related tax revenue between 2023 and 2025 totalled roughly 350 billion tenge, equivalent to about 75 million US dollars.
6. Cambodia to Form Inter‑Agency Task Force for Drafting Virtual and Digital Asset Management Legislation link
Cambodian Prime Minister Hun Manet signed a decision on July 8, which was made public on August 10, announcing the establishment of an inter‑agency working group tasked with preparing and drafting the virtual‑asset/digital‑asset management law and related legal instruments. Composed of 26 members, the working group is co‑chaired by the Secretary of State of the Ministry of Economy and Finance and the Deputy Governor of the National Bank of Cambodia (NBC). Its core mandates are to study relevant laws, regulations and domestic and international best practices, and formulate plans for comprehensive and effective legislative implementation, so as to regulate the country’s growing digital‑asset sector, clarify qualification requirements for service providers, and set up investor‑protection mechanisms.
7. Court in Pingba District, Anshun, Guizhou Convicts Defendant in Fake Crypto Airdrop Fraud; Sentenced to Seven Months’ Imprisonment link
The Pingba District People’s Court of Anshun City, Guizhou Province, has recently heard and handed down a verdict in a fraud case disguised as a virtual‑currency airdrop project. According to case details, the defendant Zhao lured the victim Zhang, who had suffered heavy investment losses, to put the remaining funds in his account into an “airdrop project” on an App with promises of capital preservation and high returns. Zhao pledged returns of 100 to 200 U‑coins within two days and falsely claimed that the investment funds would be transferred to a “public chain”. Believing the lies, Zhang converted 1757 US dollars into Ethereum and completed the transfer through a wallet link provided by Zhao. In fact, the link pointed to a personal account registered by Zhao under his girlfriend’s identity. After failing to recover the money despite repeated demands, Zhang reported the case to the police. The court held that Zhao defrauded others’ property by concealing facts and the amount was relatively large, which constituted fraud. Given his truthful confession after being brought in, full restitution and voluntary guilty plea and acceptance of punishment, Zhao was sentenced to seven months in prison and a fine of 5000 yuan in accordance with the law.
8. Southeast Asian Scam and Kidnapping Gangs Allegedly Relocate to Malaysia; Staff From Multiple Crypto Exchanges Operate On‑Site link
Two recent cases involving Chinese nationals have taken place in Malaysia. Police busted two telecom‑fraud syndicates in Country Garden Forest City, Johor state, arresting over 300 suspects, approximately 95 percent of whom are Chinese nationals. In a separate case, a 73‑year‑old Singaporean man was lured to Malaysia and kidnapped. During the rescue operation, Malaysian police exchanged gunfire with armed suspects, killing two non‑Malaysian suspects. The Singaporean victim and another Chinese woman were rescued, while one Malaysian national and several Chinese gang members were apprehended. Notably, employees of multiple cryptocurrency exchanges are currently operating from physical offices in Malaysia.
9. Tokyo‑Listed Metaplanet Securities Launches Private Placement for First Tranche of Its BitBonds Program link
Metaplanet has launched BitBonds, its new ongoing bond issuance program, and completed the issuance and settlement of its first private placement bonds (21st to 24th unsecured straight bonds). The total issuance size stands at approximately 200 million Japanese yen across four series, with a roughly three‑year maturity and interest rates ranging from 4.0 % to 4.3 %. The issue date was August 13, 2026. Representing the first business linkage between Metaplanet Group’s balance sheet as a Bitcoin‑treasury enterprise and its sales channel for primary financial instruments, the offering aims to provide yen‑denominated yield product alternatives for retail and institutional investors.
10. Deribit Secures Dubai VARA Broker‑Dealer License; Spot Orders to Be Routed to Coinbase Exchange link
Deribit, Coinbase‑owned crypto‑options platform, announced that it has obtained the Broker‑Dealer Licence issued by Dubai’s Virtual Assets Regulatory Authority (VARA). With this licence, Deribit’s spot trading service has undergone a major upgrade: spot buy, sell and trade orders submitted by users on Deribit will be directly routed to Coinbase Exchange for execution, delivering deeper liquidity support and hundreds of new assets for clients. Furthermore, assets acquired via the upgraded spot platform may serve as collateral for derivatives trading on Deribit upon obtaining regulatory approval.
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Payward, the parent company of Kraken, reported Q2 adjusted revenue of $508 million, up 17% year over year, while adjusted EBITDA fell to $23 million from about $80 million a year earlier. Total platform transaction volume declined to $310 billion, while funded accounts rose 42% to a record 6.6 million. Asset-based and other revenue accounted for 60% of total revenue, up from 55% a year earlier, pointing to a broader revenue mix despite weaker trading activity and lower profitability.

WGC CEO: Why Bitcoin Will Eventually Go to Zero
On August 5, 2026, David Tait, CEO of the World Gold Council and Chair of the FMSB Precious Metals Working Group, said in an interview that Bitcoin's movement is highly correlated with high-risk assets, failing to decouple and hedge risk as expected; in contrast, gold possesses safe-haven characteristics that move inversely.
Therefore, he advocates that Bitcoin holders should allocate gold for mutual hedging. Furthermore, although stablecoins have practical value in the institutional and asset-collateralized spaces, Bitcoin lacks the public trust enjoyed by fiat currencies, as well as the backing of central banks and major financial institutions. The lack of concrete application scenarios and support is the core reason it will eventually fall to zero.

CoinGlass data shows the Coinbase Bitcoin Premium Index has remained negative for 90 consecutive days from May 19 to August 16, most recently at -0.1066%, marking the longest negative streak on record. The index measures the Bitcoin price gap between Coinbase Pro and Binance. A persistently negative reading generally means Bitcoin is trading at a relative discount on Coinbase, which may indicate weaker U.S. buying demand or heavier selling pressure, but does not by itself prove sustained institutional outflows.

Anthropic tokenized asset (ANTHROPICUSDT) listed on Binance Pre-IPO Perpetual Futures has seen active trading, with prices fluctuating between $1,600 and $1,842; based on the contract's estimated benchmark share count of 1 billion shares, the pre-market derivatives pricing implies a valuation of ~$1.6 trillion to $1.84 trillion for Anthropic, whereas in traditional private markets, Anthropic completed a $65 billion Series H round in May 2026 at a $965 billion post-money valuation, indicating a 65% to 88% premium in the crypto pre-market that aligns closely with Wall Street investment banks' $1.5 trillion to $2 trillion IPO valuation expectations.

Justin Sun said he had spoken with Binance, which clarified that its restrictions on transactions involving HTX and other platforms apply only to users in the UK and EU. HTX does not operate in the UK or EU and is currently negotiating settlements with regulators in the two regions. Users affected during this process can contact HTX customer support, and HTX will coordinate a resolution. Earlier, Binance announced that it would stop processing transactions involving HTX, EXMO, and nine other platforms.

DeFiLlama founder 0xngmi said the team had spent months reporting a fake DeFiLlama app on the Apple App Store for trademark infringement and impersonation, but Apple did not remove it. The team then deposited a small amount of funds into a test wallet and used the app; after entering the seed phrase as instructed, the funds were stolen. After submitting evidence, Apple removed the app within days. 0xngmi said the attackers had also created similar fake apps targeting multiple major crypto brands.

1. Ethereum L1 to Abandon Poseidon, Shift to SHA or BLAKE Hash Schemes link
Justin Drake, researcher at the Ethereum Foundation, stated that the EF will no longer advance Poseidon as the hash scheme for Ethereum L1, and will instead adopt traditional hash functions such as SHA or BLAKE. Recent breakthroughs in binary‑field‑based SNARK design enable conventional hash functions including SHA2 and BLAKE2s to deliver SNARK‑performance comparable to Poseidon. This reduces reliance on specialized SNARK‑friendly hash functions and steers Ethereum toward a hash‑heavy post‑quantum cryptography roadmap. Drake noted that the EF post‑quantum team is pursuing development along this direction. The current roadmap targets a production‑grade leanVM in 2027, followed by deployments across the consensus, data and execution layers in 2028.
2. Robinhood Chain Becomes the Largest Network by NFT Trading Volume link
Robinhood Chain’s daily NFT trading volume hit $3.13 million, surpassing Ethereum to become the network with the largest NFT trading volume. The recent popularity of combinations of NFT, meme‑coin and RWA gameplay represented by StonkBrokers on Robinhood Chain has driven the surge in NFT trading volume on the chain, and the market cap of StonkBrokers NFT once exceeded that of BAYC.
Robinhood Chain recorded an average of 11.6 million daily transactions last week, hitting a new all‑time high and rising by roughly 30 % week‑on‑week. Its on‑chain total value locked (TVL) climbed to $473 million, representing a 32 % weekly increase. Nevertheless, daily active accounts grew by merely 3.3 % and remained 11 % below the peak recorded on July 16, indicating that the growth in trading volume and TVL has not translated into user‑base expansion. Meanwhile, the supply of USDe on Robinhood Chain has expanded from $17 million one month ago to $253 million, accounting for approximately 43 % of the chain’s total stablecoin supply and serving as a key driver of TVL growth.
3. Hyperliquid to Enable Auto‑Earn Native Lending Interest for Unused HLP Cash link
Hyperliquid founder Jeff announced that following the next network upgrade, HLP will automatically deploy USDC not utilized for market‑making into the HyperCore native lending pool to accrue interest. On‑chain data shows HLP currently holds approximately $188.7 million in TVL, of which around $148.7 million sits as idle cash in the main account, accounting for nearly 79 % of total capital, with another $40.06 million allocated across seven sub‑strategies. The Hyperliquid native lending pool presently has about $176 million in USDC supplied and $112 million borrowed, corresponding to a 63.7 % utilization rate, a 5 % annualized borrowing rate and roughly 2.87 % annualized supply yield. This move marks HLP’s evolution from a pool primarily for market‑making and liquidation purposes toward a multi‑strategy vault with automated capital allocation.
4. Uniswap Test Token Discovered by Market; Team Switches All Creator Fees to Buy‑and‑Burn link
Uniswap founder Hayden Adams stated that tokens created by the team during Pools trade testing were never meant to be discovered externally. All creator fees generated from Uniswap‑staff‑led tests have now been waived, and both past and future relevant fees will be routed to an auto‑buy‑and‑burn contract. Fees will be unlocked in ETH, and anyone may claim the ETH by burning the corresponding tokens. Adams added that he is considering opening this mechanism for other token deployers.
5. ENS DAO Passes Governance Proposal; ENS Foundation Becomes Formal Operator link
Ethereum Name Service (ENS) announced that token holders have passed and executed the “Next Era of ENS DAO” proposal, establishing the ENS Foundation as a formal operating body with a full‑time executive director, staff and a five‑member board of directors. The foundation will handle engagements with bodies including ICANN, IETF and W3C, advance work on the .ens top‑level domain, conduct regulatory outreach and manage brand protection, while ENS Labs will remain in charge of protocol and product development. The ENS tokens held by the DAO account for 54.6 % of the total supply and remain under token‑holder control; only a one‑time allocation of 1 million ENS has been transferred to the foundation to cover staff compensation under the established framework.
Transactions for the ENS Endowment will adopt an additional 9‑day timelock, and the ENS Security Council is empowered to block operations exceeding the foundation’s authorized scope. Foundation board directors are appointed and removed by token holders. The inaugural five‑member board comprises Executive Director Alexander Urbelis, ENS founder Nick Johnson, alongside Kartik Talwar, Brett Sun and Anthony Leutenegger.
6. Solana‑Based Lending Protocol Jupiter Launches Lend v2 link
Solana‑ecosystem lending protocol Jupiter has launched Lend v2, enabling deposited and borrowed assets to simultaneously serve as trading liquidity, so the same capital can generate both lending yields and swap fees. The new release includes optional Smart Collateral and Smart Debt features. Smart Collateral automatically deploys USDC, USDT, SOL or JupSOL into highly‑correlated liquidity pools, while Smart Debt lets borrowed assets accrue trading fees to offset part of borrowing costs. Jupiter Lend currently holds roughly $1.9 billion in deposits and around $823 million in active loans.
7. UniSat Raises Default Wallet Mnemonic From 12 to 24 Words; Existing Users Require No Urgent Migration link
UniSat has released its August 2026 security update. Browser‑extension wallet version v1.7.19 changes the default mnemonic length for newly‑created wallets from 12‑word to 24‑word, and optimizes wallet‑creation and mnemonic‑management workflows. UniSat states that this represents a long‑term security‑configuration upgrade. Existing 12‑word wallets remain BIP‑39‑compliant and do not require urgent migration solely due to the revised default setting. Multiple recent community‑submitted security reports have also been addressed via fixes or hardening measures based on impact scope.
8. 15 x402 Payment Service Providers Including Coinbase Each Violate At Least One Security Rule link
A study published at the 35th USENIX Security Symposium tested 15 major x402 payment service providers including Coinbase, Thirdweb, PayAI and Mogami, finding that every tested platform violated at least one security rule, with a total of 49 rule violations and 31 distinct vulnerabilities. The covered providers accounted for 99 % of x402‑transaction volume and 98 % of payment value during the study period, though this does not imply vulnerabilities exist for the same share of transactions. The research categorized risks as free‑of‑charge goods or‑service acquisition, asset theft, service disruption and gas‑fee abuse, and validated six attack paths under constrained conditions; researchers did not actually transfer provider‑held assets. Coinbase, PayAI and Mogami collectively acknowledged six vulnerabilities, some of which have been fixed while others remain in progress. The real‑world deployment scope of these fixes across live x402 infrastructure remains unclear.
9. MegaETH Native Stablecoin USDm Supply Plunges Over 95% From Peak to Around $18 Million link
The current supply of MegaETH‑native stablecoin USDm stands at around $18 million, representing a drop of over 95 % from its roughly $600‑million peak in May this year. Launched jointly by MegaETH and Ethena, USDm deploys its reserve capital into BlackRock’s BUIDL fund, with generated yields used for MegaETH token buy‑and‑burn operations. Based on the present $18‑million supply and a 3.6 % SOFR rate, Castle Labs estimates USDm can generate approximately $650,000 in annual yield, and attributes the sharp supply contraction to declining on‑chain usage on MegaETH.
10. World Liberty Financial Delays Revenue‑Sharing Token for Maldives Trump‑Branded Resort Amid Iran Conflict link
World Liberty Financial and its partners have postponed the digital‑token issuance tied to the Trump‑branded resort development in the Maldives. Originally scheduled for launch this spring, the token would have granted investors partial proceeds from financing loans for the resort. The rollout has been delayed amid regional‑travel disruptions stemming from the Iran‑related conflict, and no new launch date has been set. Developed by UK‑listed firm DAR Global, the project was intended as one of World Liberty’s flagship real‑world‑asset tokenization initiatives. The firm had previously also discussed tokenizing real‑estate properties, investment funds, oil and gold.
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CZ: Crypto Illegal Activity Rate Is 100x Lower Than Traditional Finance
On July 31, 2026, Binance founder CZ said in an interview at the ASEAN Tech Summit that the crypto industry has long faced criticism over illegal transactions, but the data tells a different story. According to the figures discussed, illegal activity accounts for around 0.0014% of crypto transactions, far below the 2%–5% estimated for traditional finance.
CZ argued that blockchain’s transparency and traceability make fund flows easier to analyze and monitor. He emphasized that criminal activity should be separated from the technology itself: just because criminals use banks or fiat currencies does not mean the banking system or currencies themselves are the problem.

Cosmos ecosystem wallet Cosmostation announced it will discontinue its wallet services. Starting September 1, Cosmostation Wallet will retain only seed phrase and private key export functions, while all other features will be gradually discontinued across its iOS, Android, and Chrome extension versions, with the app itself eventually shutting down. Cosmostation has operated since 2018 and ranks second in the Cosmos ecosystem by market share.

According to The Block, the SEC published a notice on August 14 stating that Cboe BZX Exchange had filed a proposed rule change to list and trade Volatility Shares' 3x Bitcoin ETF and 3x Ether ETF, which could become the first triple-leveraged Bitcoin and Ether ETFs in the United States.
The two funds would primarily use CME Bitcoin and Ether futures to seek three times the daily performance of their respective underlying assets. Because Cboe's generic listing standards prohibit leveraged products, the proposed listings require separate SEC approval. The same filing also covers 3x leveraged ETFs tied to gold, silver, crude oil, and natural gas. The application was filed on August 10 and has not yet been approved.