Blockonomi

Key Highlights
The company obtained $30M using Bitcoin collateral through the Morpho Protocol DeFi platform.
GPUS financing carries approximately 4.9% variable annual interest on Morpho borrowings.
Capital will fund Michigan facility expansion and general working capital requirements.
Hyperscale Data maintains ownership of collateralized Bitcoin under the loan agreement.
GPUS shares dropped 2.44% in regular trading but recovered 0.67% during pre-market hours.
Shares of Hyperscale Data (GPUS) finished regular trading down 2.44% at $0.1200, then climbed 0.67% to $0.1205 in early pre-market activity. The data center operator obtained approximately $30 million by pledging Bitcoin holdings on the Morpho Protocol. These proceeds will finance Michigan data center development, operational capital, and various corporate initiatives.
Hyperscale Data, Inc., GPUS
Company Executes Bitcoin Collateral Financing Plan
Hyperscale Data deployed its financing initiative following the July 30, 2026 announcement. By August 2, the organization had drawn approximately $30 million against Bitcoin collateral. The borrowing arrangement features a floating interest rate around 4.9% annually.
The firm utilized portions of its Bitcoin treasury to secure the financing facility. Importantly, the loan terms permit Hyperscale Data to maintain legal ownership of deposited digital currencies. This mechanism enables the company to unlock capital from Bitcoin reserves without liquidating holdings for operational funding.
Morpho Protocol facilitates overcollateralized cryptocurrency lending via blockchain smart contracts. These automated programs enforce predetermined conditions and execute transactions accordingly. The platform enables corporations to access decentralized credit markets independent of conventional banking institutions.
Michigan Campus Development Receives Capital Injection
Hyperscale Data intends to allocate a portion of borrowed funds toward its Michigan data center facility. The organization is constructing this location pursuant to a previously disclosed master services contract. That arrangement involves a significant cloud infrastructure customer requiring high-performance computing capabilities.
The Michigan facility represents a cornerstone of the company’s infrastructure expansion blueprint. Hyperscale Data aims to scale computing resources as enterprise demand for large-scale data centers accelerates. The fresh capital provides resources for construction activities, hardware procurement, and property improvements.
Management will also deploy certain loan proceeds for operational liquidity and general business requirements. This funding distribution enhances management’s ability to address routine operations and strategic opportunities. Additionally, the Bitcoin-backed approach minimizes immediate pressure to pursue equity financing that could dilute shareholders.
Digital Asset Holdings Enable Operating Liquidity
Hyperscale Data has transformed its Bitcoin treasury from a static investment into an active financing instrument. This methodology integrates the company’s cryptocurrency reserves with infrastructure capital requirements. Consequently, Bitcoin generates liquidity while remaining within corporate treasury management.
Management contends this framework can minimize dependence on conventional debt with restrictive covenants. It potentially reduces the necessity for financing vehicles that diminish shareholder equity. Nevertheless, the floating borrowing rate remains subject to fluctuations as decentralized lending markets evolve.
Cryptocurrency-collateralized borrowing introduces margin risks during substantial digital asset price deterioration. Significant Bitcoin value reductions may trigger additional collateral requirements or force position adjustments. Therefore, prudent treasury oversight becomes essential as the organization scales this financing approach.
Company Pursues Additional DeFi Financing Options
Hyperscale Data intends to explore additional Bitcoin-backed credit opportunities going forward. The organization will maintain a balance between pledged collateral and unencumbered Bitcoin reserves. This methodology seeks to preserve financial maneuverability while advancing infrastructure growth objectives.
The initiative reflects broader corporate adoption of digital asset treasury optimization strategies. Organizations holding Bitcoin can leverage collateralized lending to generate working capital without disposing of cryptocurrency positions. However, borrowing conditions remain dependent on asset valuations, prevailing rates, and decentralized market depth.
Hyperscale Data continues integrating Bitcoin treasury operations with data center infrastructure buildout. Management anticipates both components will contribute to comprehensive business development. Future initiatives will be guided by Michigan project milestones, credit market conditions, and treasury allocation priorities.

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TLDR
BitGo CEO Mike Belshe published a Bitcoin address holding 100 BTC and challenged Claude to move the funds.
The full balance stayed in the wallet with no outgoing transaction as of Aug. 2.
Anthropic disclosed that three Claude models had accessed real systems during cybersecurity evaluations after a setup error left test machines connected to the internet.
BitGo’s Bitcoin wallets typically need two of three keys to authorize any transaction, meaning a public address alone offers no path to the funds.
U.S. officials are reviewing how AI systems should be tested for cybersecurity risks following Anthropic’s disclosure.
BitGo chief executive Mike Belshe posted a Bitcoin address on Aug. 1 that holds 100 BTC. He asked Claude, the AI system made by Anthropic, to try to move the funds.
Belshe co-founded BitGo, a company that provides Bitcoin wallet security services. His post came after Anthropic revealed that Claude models had accessed real organizations during testing.
As of Aug. 2, the wallet had not moved. Blockchain records show the full 100 BTC still sitting at the address with no transaction sent out.
That does not mean Claude tried and failed. Belshe’s post did not explain how the test would work or which Claude model was meant to take part.
He also did not grant any system access. He simply created a public target that anyone can watch on the Bitcoin network.
Either @AnthropicAI is terrible at building sandboxes… or excellent at marketing. (or both)
But enough with the “we created a hacking monster” games.
Do it for real.
I put this in an @BitGo wallet for you. Go get it.
100 BTC:… https://t.co/RhvivRk9YK
— Mike Belshe (@mikebelshe) August 1, 2026
What Anthropic Found During Testing
Anthropic reviewed 141,006 evaluation runs tied to its cybersecurity testing. It found three cases where Claude models reached real systems instead of staying inside simulated test environments.
The issue traced back to a setup error with evaluation partner Irregular. Test machines stayed connected to the internet even though the models were told they were working inside sealed simulations.
The models involved were Claude Opus 4.7, Claude Mythos 5, and an internal research model. They used basic techniques like weak passwords and unsecured endpoints, treating real systems as part of practice exercises.
In one case, Opus 4.7 reached a database holding several hundred production records. In another, Mythos 5 published a harmful software package to a public code registry.
That package stayed live for about one hour and ran on 15 real systems before it was taken down. Anthropic said the models did not act with independent goals or try to escape oversight.
The company called the incidents an operational failure rather than a problem with how the models behave. The test systems lacked the safety monitoring built into Anthropic’s public products.
Why the Challenge Isn’t a Fair Comparison
Publishing a Bitcoin address does not hand over the keys needed to spend it. Moving funds requires a valid cryptographic signature made with the correct private key.
BitGo’s own documentation says its Bitcoin wallets generally require two of three separate keys to approve a transaction. A public address by itself provides none of those keys.
For Claude to move the funds, it would need access to a signing system or a security flaw to exploit. Belshe’s post supplied neither.
This makes his challenge a test of whether an AI system could break through BitGo’s broader security setup. It is not a test of whether Claude can pull private keys out of public blockchain data.
Anthropic stopped its cybersecurity evaluations on July 23. It identified all three incidents the next day and told the affected organizations on July 27.
The company said an outside group, METR, will review what happened. It also plans to release a redacted record of the package incident.
U.S. officials are separately working on rules for testing advanced AI systems. President Donald Trump directed advisers in June to build a voluntary testing framework for top AI models, according to Reuters.
Any future movement from the wallet would show up on the blockchain right away. Investigators would still need to determine who authorized it and whether a Claude model played a role.
The post BitGo CEO Challenges Claude to Move 100 Bitcoin From Public Wallet appeared first on Blockonomi.

TLDR
Prediction markets combined for $50.6 billion in July trading volume, a new record.
Kalshi led all platforms with $37.7 billion, about 74.5% of the total.
Polymarket US volume jumped 54% to $5 billion in July.
Open interest fell to $1.2 billion as World Cup contracts settled.
New York sued Kalshi while a Minnesota judge blocked state enforcement against the platforms.
Prediction markets set a new record in July. Combined trading volume across Kalshi, Polymarket and Polymarket US reached $50.6 billion. The data was published on August 3.
The total rose 7.8% from June’s revised figure of $46.95 billion. That number was higher than the $44.8 billion first reported for June. More trading data became available after the month ended, which pushed the baseline up.
Kalshi stayed the largest platform by far. It generated $37.7 billion in July, up about 14% from June. That gave Kalshi roughly 74.5% of the combined total across all three venues.
Polymarket’s two platforms combined for $12.9 billion. That was down from about $14 billion in June. The drop came even though one of the two Polymarket platforms grew.
Polymarket, Polymarket US, and Kalshi Reach Record Monthly Volume of $50.6 Billion in July
Polymarket, Polymarket US, and Kalshi posted combined monthly volume of $50.6 billion in July, an all-time high. Polymarket US volume rose 54% to $5 billion, while Polymarket volume fell… pic.twitter.com/Ujb69YDyAo
— Wu Blockchain (@WuBlockchain) August 3, 2026
Polymarket US Growth Outpaces Offshore Decline
Polymarket US posted the strongest growth of the three exchanges. Its volume climbed 54% to $5 billion in July. The platform removed its app waitlist in May, opening access to more U.S. users.
Polymarket’s international platform moved the opposite direction. Volume there fell 26% to $7.9 billion. The decline was large enough to more than offset the gains made by Polymarket US.
Rutgers University statistician Harry Crane has studied where Polymarket’s offshore volume comes from. He estimated that around 30% of that volume could originate from U.S. traders. His broader estimate ranged from 19% to 48%.
Crane said blockchain transactions do not show where a trader is located. That means his estimates are based on indirect data rather than confirmed customer records.
World Cup Contracts Drove Much of the Activity
The FIFA World Cup ran from June 11 through July 19. It created a steady stream of sports contracts that traders bought and sold throughout the tournament.
Kalshi’s market on the final between Spain and Argentina alone generated about $1.89 billion in volume. Spain won that match 1-0.
Chainalysis separately tracked blockchain-based prediction markets tied to the World Cup. It estimated $20 billion in related volume from January through the end of the tournament.
About 400,000 wallets produced $5.7 billion during the five-week competition, according to Chainalysis. World Cup markets made up roughly 63% of all prediction-market activity during that stretch.
These figures are not directly comparable to the $50.6 billion total. Chainalysis only tracked on-chain activity, while the wider dataset combines Kalshi’s centralized platform with both Polymarket exchanges.
Open interest across all three platforms fell as the tournament wrapped up. It dropped from around $2 billion in early July to about $1.2 billion by month’s end. That decline shows many positions closed out once World Cup contracts settled.
Trading volume is not the same as platform revenue or customer deposits. Traders can buy and sell the same contract multiple times before it settles. That activity raises volume figures without new money entering the platform.
Legal fights are also shaping the industry. On July 31, New York sued Kalshi, accusing it of running an unlicensed gambling operation. The state is seeking penalties, forfeiture and customer restitution, though the claims have not been proven in court.
Four days earlier, a federal judge in Minnesota issued a different ruling. The judge temporarily blocked the state from enforcing its prediction-market law against Kalshi and Polymarket US, citing federal preemption.
The judge noted that not every contract on these platforms may qualify as a federally regulated swap. Any final ruling could end up narrower than the temporary order.
August will be the first full month without World Cup contracts driving volume. Traders and platforms are now watching whether sports, politics and economic contracts can keep pace while the New York and Minnesota court cases continue.
The post Prediction Markets Hit Record $50.6 Billion in July Volume appeared first on Blockonomi.

TLDR:
Bithumb targets IPO completion in 2028 after 2027 preliminary listing review filing.
Exchange is transitioning from K-GAAP to K-IFRS accounting standards for global compliance.
Bithumb restructured operations, splitting Bithumb Asset to strengthen governance clarity.
Company is diversifying revenue and boosting liquid assets to ensure financial stability.
Bithumb, South Korea’s second-largest cryptocurrency exchange, plans to complete its initial public offering in 2028. The exchange will file for a preliminary listing review in 2027.
This timeline marks a key milestone in Bithumb’s long-term IPO strategy. The company is strengthening internal controls ahead of the filing.
It is also transitioning to K-IFRS accounting standards. Business restructuring is underway as part of these preparations. Officials noted the schedule may shift based on market and regulatory conditions.
Bithumb’s 2027 Review Filing Builds on Internal Reforms
The path toward a 2027 preliminary review request depends on structural changes now underway. Bithumb said it aims “to maximize corporate value and demonstrate management transparency.”
The exchange is consulting with top domestic accounting firms on this transition. It is also moving from K-GAAP to K-IFRS, the global capital market standard.
Governance restructuring supports the same 2027 filing target. Bithumb split off Bithumb Asset to separate business division roles.
The company said this move helps “fundamentally block unnecessary potential conflicts of interest.” A clearer governance structure is meant to build market confidence ahead of the review.
Financial stability work also feeds into the 2028 IPO timeline. Bithumb is diversifying its business model to manage market volatility.
The exchange is increasing liquid asset holdings during this period. Bithumb said this approach lays “the foundation for stable shareholder value creation” after listing.
Disclosure practices are being expanded before the preliminary review stage. Bithumb already shares financial status and asset holdings regularly.
The exchange said it will provide “only reliable and objective information” going forward. This practice aligns with requirements expected during listing review.
Path to 2028 Listing Includes External Support and Market Outreach
External institutions are involved in preparing for the 2027 filing. Bithumb is working with domestic and international securities firms as underwriters.
Law firms and accounting firms are assessing legal risk and corporate value. These reviews aim to meet listing requirements “from a conservative and rigorous perspective.”
Market communication has expanded as the IPO timeline approaches. Bithumb said it is “fully opening communication channels with the media, investors” and customers.
Regular updates on management status are part of this outreach. The exchange said it will “listen even more carefully” to market feedback.
The full schedule spans three phases through 2028. In 2026, Bithumb will complete internal control upgrades and K-IFRS preparation. In 2027, the exchange plans to submit its preliminary listing review request. The IPO is targeted for completion in 2028, subject to regulatory review.
Bithumb said it will “prepare sincerely until the very last moment” to earn market trust. The exchange plans to move through each phase without setbacks.
Officials reiterated that timing could change depending on regulatory schedules. The company said continued preparation remains its focus through each step.
The post South Korea’s Bithumb Sets 2028 IPO Timeline With 2027 Review Filing appeared first on Blockonomi.

TLDR
Registration for Japanese users has ceased, with account limitations starting November 1, 2026.
Users from Japan have until November 1, 2026, to finalize Level 2 identity verification procedures.
Accounts without completed verification will default to Japanese resident classification.
Mandatory liquidation of open positions will occur for accounts after December 31, 2026.
Japan’s financial authorities had issued multiple warnings regarding unauthorized cryptocurrency operations.
The cryptocurrency platform Bitget has announced its decision to discontinue operations for users residing in Japan, with account limitations commencing November 1, 2026. Following a comprehensive compliance assessment, the trading platform halted new account registrations from Japanese territories after August 3. Current account holders must now verify their location credentials or prepare for asset withdrawal ahead of complete service termination.
Identity Verification Mandate Issued with November Cutoff Date
Users identified as potentially residing in Japan received instructions to finalize Level 2 verification protocols by November 1. The authentication procedure demands address confirmation alongside additional identification materials that establish each trader’s present location. Consequently, affected individuals living beyond Japanese borders must provide precise documentation to maintain unrestricted platform functionality.
Following the November cutoff, the platform will implement progressive limitations on accounts lacking completed verification, automatically categorizing them as Japanese-based. While specific restriction parameters remain undisclosed, the exchange committed to delivering comprehensive guidance via registered email channels.
Account holders should examine their profile information and finalize mandatory authentication ahead of enforcement. Additionally, they must ensure submitted addresses align with official documentation and supplementary verification materials. This validation enables the platform to differentiate international clients from those presently domiciled in Japan.
Phased Service Limitations Target Japanese User Base
Starting November 1, 2026, Bitget will initiate service curtailments for verified Japanese account holders. The platform will provide users with sufficient opportunity to handle funds and terminate active trading positions ahead of complete implementation. Detailed withdrawal protocols and asset handling procedures will be communicated through direct correspondence.
Per the disclosed schedule, any trading positions maintained beyond December 31, 2026, will undergo automatic liquidation. This necessitates that traders resolve margin trades, derivative contracts, and additional active instruments before the calendar year concludes. Users should also migrate accessible holdings before account capabilities become restricted or entirely unavailable.
The graduated implementation strategy affords Japanese clients multiple months for preparation before complete operational cessation. However, the exchange has withheld granular schedules detailing individual product restrictions or feature limitations. Future electronic communications will clarify necessary steps as specific dates materialize.
Compliance Enforcement Drives Market Departure Decision
Japan mandates that cryptocurrency platforms servicing domestic users obtain formal registration through the Financial Services Agency. Regulatory authorities had previously cautioned the exchange regarding alleged provision of digital asset services to Japanese residents absent proper authorization. These admonitions represented elements of Japan’s extensive enforcement campaign against foreign platforms operating without domestic registration.
The Financial Services Agency delivered formal warnings concerning the exchange in March 2023 and November 2024. Both communications addressed apprehensions that the service provided cryptocurrency offerings to Japanese users without requisite approval. The current market withdrawal demonstrates escalating regulatory enforcement against unregistered international cryptocurrency enterprises.
During June 2025, the Kanto Local Finance Bureau released an additional warning connected to the platform’s operations. The bureau identified BTG Technology Holdings Limited regarding purported solicitation of unauthorized online derivative transactions. Rather than adapting operations under intensifying regulatory examination, the exchange selected complete market departure from the Japanese jurisdiction.

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TLDR
Solana Foundation CISO Michael Coates says AI is making crypto scams more convincing through phishing, impersonation, and voice deepfakes.
The warning is about social engineering, not a flaw in Solana’s blockchain or smart contracts.
Coates previously worked as CISO at Twitter and led security at Mozilla before joining Solana Foundation this year.
He says crypto systems need to be secure by default instead of relying on users to spot every scam.
Coates also flagged quantum computing as a longer term security concern for crypto networks.
Michael Coates, the new chief information security officer at the Solana Foundation, is warning that artificial intelligence is making crypto scams harder to spot. He says the danger comes from social engineering, not weaknesses in blockchain code.
Coates previously served as CISO at Twitter. He also led security efforts at Mozilla during the browser wars. He joined the Solana Foundation earlier this year.
His new role covers more than protecting the foundation itself. He also works with projects across the Solana ecosystem and meets with regulators on cybersecurity standards.
AI Is Changing How Scams Work
Coates told CoinDesk that many recent crypto hacks did not come from smart contract bugs. Instead, they came from compromised credentials and fake identities.
“In many cases, it is an operational security issue or a Web2 issue that led to a key compromise,” he said.
He expects this trend to grow worse as AI tools improve. Attackers can now generate realistic messages, fake voices, and convincing identities at scale.
“The social engineering piece is going to get a lot worse because of the power of AI and deepfakes,” Coates said. He warned that fully spoofed phone calls using voices of people victims know could become common.
In crypto, mistakes are often permanent. If someone signs a bad transaction or shares a seed phrase, there is no bank to call and no way to reverse the transfer.
That makes convincing scams especially costly. Coates said attackers will keep looking for any mistake because the funds involved cannot be recovered once stolen.
Building Systems That Expect Failure
Coates does not believe scams can be fully prevented. He said even careful users will eventually fall for a well made con.
“You cannot fully prevent anyone from falling victim,” he said. “Eventually, you will be fooled because the cons are that good.”
Because of that, he argues organizations need layered security. If one layer fails, another should still protect the user or the funds.
This applies to individuals and to crypto teams. A fake vendor, investor, or colleague using AI generated audio or messages could trick an employee into approving a transaction or handing over access.
Coates said the industry’s long term success depends on making the secure choice the default one. Users should not need to be security experts to stay safe.
“We need to meet the users where they are, and we need to make the default secure decision for the user,” he said.
He also pointed to quantum computing as a future risk for crypto networks, including Solana. The timing of when quantum computers could break current encryption remains unknown.
“The challenge with quantum readiness is we don’t know when the Q-day will hit,” Coates said. He added that the fix is known: adopting post-quantum algorithms early.
The Solana Foundation has already published its own strategy for preparing for that shift. Coates said whether the threat is AI scams or quantum computing, the same principle applies. Systems should protect users automatically, rather than expecting perfect behavior every time.
The post Solana Foundation CISO Warns AI Is Making Crypto Scams More Convincing appeared first on Blockonomi.

TLDR
Oil prices fell more than 6%, dropping below $80 a barrel on hopes of a US-Iran peace deal.
President Trump confirmed talks with Iran will start Monday afternoon.
Trump canceled a planned military strike after requests from Saudi Arabia, the UAE, and Qatar.
Bitcoin fell below $63,000 even as oil prices, the US dollar, and bond yields all dropped.
US stock futures rose, with S&P 500 futures up more than half a percent.
Oil prices dropped sharply on Monday, falling more than 6% to trade near $79 a barrel. The move came after President Donald Trump confirmed that talks between the United States and Iran will begin later that day.
The drop followed a steep climb last month, when oil prices had jumped more than 20%. Traders had been bracing for wider conflict in the Middle East.
Trump said he called off a planned military operation against Iran. He made the decision after Saudi Arabia, the UAE, and Qatar asked him to hold back.
.@POTUS on Iran: "Now what we're doing is we're talking to them in the form of a negotiation. It begins tomorrow afternoon — and we'll see." https://t.co/jrvoju7nG6 pic.twitter.com/B7bmK3brYC
— Rapid Response 47 (@RapidResponse47) August 2, 2026
Talks Set to Cover Strait of Hormuz and Nuclear Program
Iran’s Foreign Minister Abbas Araghchi said talks between Iran and Oman over control of the Strait of Hormuz are in their final stages. The strait is a key route for global oil shipments.
Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said the goal is to find a shared way to manage the strait. Both sides appear close to an agreement on that point.
Trump linked the Hormuz talks to a bigger goal. “There’s a deal on Hormuz and then there will be a deal on the denuclearization of Iran,” he said.
He confirmed that US-Iran negotiations will start Monday afternoon. He said the outcome will shape further discussion on opening the strait and limiting Iran’s nuclear program.
When asked about a deadline for the talks, Trump did not set a firm date. “We’ll just see how it is. We’re ready to go any time we want,” he said. “I’m not looking to kill people. We don’t want that.”
BREAKING: US oil prices crash below $79/barrel after President Trump cancels US strikes on Iran and says a deal is near. pic.twitter.com/NIpHBMMkBw
— The Kobeissi Letter (@KobeissiLetter) August 2, 2026
Stock Futures Rise as Bitcoin Keeps Falling
US stock futures moved higher on the news. S&P 500 futures rose more than half a percent as investors welcomed the chance of lower tension in the Middle East.
Bitcoin did not follow the same path. The token fell more than 1% even as oil prices, the US dollar, and bond yields all dropped.
Last week, reports that the US and Israel were considering a land blockade on Iran had already pushed Bitcoin below $64,000.
The US dollar index fell to 99.50 on Monday. That drop came as the US and Japan stepped in together to buy the yen, which had slid to a 40 year low.
The 10 year Treasury yield also slipped, falling under 4.7% after touching an 18 month high. Lower yields and a weaker dollar often support Bitcoin, but that was not the case Monday.
Bitcoin traded at $62,760 at the time of writing. Its 24 hour range ran between $62,717 and $63,714.
Trading volume for Bitcoin rose 7% over the past day. That points to active trading even as the price stayed under pressure.
For now, oil markets and stock futures are pricing in hope for peace talks. Bitcoin traders appear to be watching from the sidelines, waiting for more clarity before the token finds its next direction.
The post Oil Prices Drop 6% as Trump Confirms Iran Talks Set for Monday appeared first on Blockonomi.

Key Highlights
Smarter Web Company purchases 11.89 Bitcoin, expanding treasury reserves to 2,712 BTC total.
Accumulation strategy continues following complete settlement of Smarter Convert debt in July.
Average acquisition cost reached approximately $63,328 per coin during the August 3 transaction.
Current holdings place the firm 28th among global corporate Bitcoin treasury holders.
Share dilution and debt financing remain key factors influencing per-share Bitcoin exposure.
Smarter Web Company has acquired an additional 11.89 Bitcoin, pushing its corporate treasury to 2,712 BTC. This August 3 transaction marks the resumption of strategic accumulation following a temporary reduction in holdings to resolve financing obligations. The purchase aligns with the organization’s multi-year Bitcoin acquisition framework outlined in its 10 Year Plan.
Recent Acquisition Pushes Holdings Beyond Previous Month’s Level
According to the company, the purchase price averaged £47,052 per Bitcoin, equivalent to approximately $63,328. This transaction elevated the treasury from precisely 2,700 BTC to its current 2,712 BTC level. BitcoinTreasuries.NET currently positions the organization as the 28th largest corporate Bitcoin holder globally.
This acquisition comes after the firm completed early settlement of its $11.7 million Smarter Convert financing arrangement in July. To fulfill that commitment, management liquidated 177.8909127 BTC at an average price of $65,762 per coin. The transaction eliminated debt obligations ahead of the scheduled maturity date while temporarily decreasing Bitcoin reserves.
Retiring the convertible instrument also eliminated 7,718,551 contingent ordinary shares from the fully diluted share calculation. Investment firm TOBAM along with associated parties facilitated the early settlement arrangement. Nevertheless, company leadership maintained its broader Bitcoin accumulation strategy unchanged despite settling the financing vehicle.
Average Acquisition Cost Exceeds Current Market Valuation
Management reports the firm’s net average purchase price at £82,886 per Bitcoin, translating to roughly $111,548 per coin. Bitcoin was trading around $63,000 at the time of this most recent purchase. Therefore, the treasury maintains a substantial unrealized loss based on current market valuations versus historical acquisition costs.
Total gross Bitcoin investments have accumulated to £233.5 million, while net investments stand at £224.8 million following historical disposals. This variance accounts for previous sales, including the July liquidation for convertible settlement. The recent purchase demonstrates management’s commitment to rebuilding reserves after that strategic reduction.
During the second quarter of 2026, the organization recorded a negative 4.80% Bitcoin yield metric. This calculation measures Bitcoin holdings relative to the company’s fully diluted share base. The negative reading indicated declining per-share Bitcoin exposure throughout the quarter.
Credit Facilities Enable Ongoing Digital Asset Accumulation
Current borrowing from a Coinbase credit line totals £18.5 million at a floating 6% annual interest rate. This leverage equates to roughly 17% of the firm’s Bitcoin position value. Market price fluctuations and borrowing expenses substantially impact overall treasury performance metrics.
August 3 also saw the company generate £1.016 million through combined share placements and warrant conversions. During this capital raising activity, warrant holders converted 2.875 million instruments into ordinary shares. These transactions brought the total outstanding share count to 374.84 million.
Smarter Web Company initiated systematic Bitcoin acquisitions in 2025 as part of its treasury diversification strategy. Holdings reached 2,470 BTC by September following a 30 BTC purchase and expanded custody arrangements with Coinbase Institutional. An October transaction adding 100 BTC subsequently increased reserves to 2,650 BTC under the same strategic framework.
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TLDR
BNB Chain says a former employee kept access to a tutorial wallet after leaving the company.
The wallet was allegedly used to create and launch the ASTEROID meme token without approval.
On-chain data shows four linked wallets bought 79.67% of the token supply for about $10,000.
Those wallets later sold tokens for roughly $638,000, an estimated profit near $628,000.
BNB Chain is cooperating with authorities and has started legal action, though no names or case details have been shared.
BNB Chain has accused a former employee of secretly keeping control of a company wallet after leaving the business. The wallet was originally made for a tutorial video showing users how to create a token.
According to BNB Chain, the employee held onto the wallet’s seed phrase after their exit. That seed phrase was later used to generate a new private key, giving them full access to the wallet again.
A wallet address was previously created by a former employee, which they then used to generate a token, as part of a video tutorial. That individual is no longer with the company as part of this incident.
The individual retained unauthorised access to the associated seed phrase…
— BNB Chain (@BNBCHAIN) August 1, 2026
With that access, the former employee allegedly launched a new meme coin called Asteroid Shiba, or ASTEROID. BNB Chain says it had no part in creating, approving, or promoting the token.
The company posted about the situation on X on August 1. It said it is working with authorities and has already begun legal action.
No court, agency, or jurisdiction has been named so far. BNB Chain also has not identified the former employee publicly.
How the Token Supply Was Controlled
Blockchain tracking account Lookonchain looked into the token’s early trading activity. It found that four wallets, believed to be linked to the same person, bought 796.7 million ASTEROID tokens.
A former @BNBCHAIN employee deployed the new token $ASTEROID, then used 4 newly created wallets to buy 796.7M $ASTEROID (79.67% of the total supply) for $10K.
The employee later sold 718.8M $ASTEROID for 1,103 $BNB ($638K), making a profit of $628K.
Wallets:… pic.twitter.com/gQeT973alY
— Lookonchain (@lookonchain) August 1, 2026
That amount equals 79.67% of the token’s total one billion supply. The wallets reportedly spent close to $10,000 to acquire that share.
Those same wallets later sold 718.8 million tokens for 1,103 BNB. At the time, that BNB was worth about $638,000.
The estimated profit from the trades comes to roughly $628,000. As the tokens were sold, the price of ASTEROID dropped by more than 40%.
Blockchain records can show wallet activity, but they cannot confirm who personally controls a wallet. There has been no court ruling connecting the wallets to a specific individual.
Binance co-founder Changpeng Zhao also commented on the situation on X. He called the former employee “basically a scammer” and told users to “Stay SAFU.”
His comments are personal statements and not part of any official legal finding.
What Remains Unclear
BNB Chain has not said when the employee left the company. It also has not said how long the seed phrase remained active before the unauthorized use was discovered.
The company has not confirmed whether other tutorial wallets are being reviewed for similar risks. It also has not shared whether any funds have been frozen or recovered.
There is no public information yet on whether the four wallets still hold the 1,103 BNB from the token sales. BNB Chain has not said if it plans to seek repayment or damages.
For now, the case remains open, with legal steps underway and authorities involved. Further details are expected as the investigation continues.
The post BNB Chain Says Ex Employee Used Tutorial Wallet to Create ASTEROID appeared first on Blockonomi.

Key Takeaways
Shorting means profiting when a price falls rather than when it rises — the opposite of the buy-low, sell-high trade most people know.
On modern crypto platforms you short through derivatives, so you never have to borrow or own the coin; you simply open a short position on its price.
The main ways to short are perpetual futures or a margin short, dated futures, options, and inverse ETFs or tokens.
A perpetual or margin short is the most common route: flexible, leveraged and with no expiry date.
Shorting is riskier than going long. A long position can only fall to zero, but a short can lose far more, because a price can keep rising.
A short squeeze — a sharp rally that forces shorts to buy back — is the specific danger, which is why a stop-loss matters even more on the short side.
Liquidation, funding every eight hours, and mark-price quality all apply to shorts exactly as they do to longs.
Almost everyone learns to make money the same way: buy something, wait for it to rise, sell it for more. But crypto falls at least as often as it rises, and shorting is how traders profit when it does. It sounds exotic, yet the mechanics are straightforward once the idea clicks. This guide explains what shorting crypto actually means, the main ways to do it, how a typical short works step by step, and why the risk is shaped differently from a normal buy.
What shorting crypto means
Traditionally, short selling meant borrowing an asset, selling it at today’s price, then buying it back later — hopefully cheaper — and returning it, pocketing the difference. It is the buy-low, sell-high trade run in reverse: you sell high first and buy low afterwards.
On modern crypto platforms you rarely borrow an actual coin. Instead you short through derivatives — contracts that track the price — so you open a short position that gains value as the price falls and loses value as it rises. You never hold the underlying asset, never manage a wallet for it, and can close the position whenever you like. The profit is the same idea: you win when the market goes down.
The main ways to short crypto
There are four common routes, differing in leverage, complexity and who they suit.
Method Leverage Complexity Best for Perpetual futures / margin short Yes, adjustable Moderate Most traders — flexible, no expiry Dated futures Yes Moderate Traders wanting a fixed timeframe Options (buying puts) Built in High Defined-risk bets on a fall Inverse ETFs / tokens Usually low Low Hands-off exposure without a derivatives account
For most active traders, a perpetual futures or margin short is the default: it carries no expiry date, lets you adjust leverage, and can be opened and closed in seconds. Options give defined risk but demand more knowledge, while inverse ETFs and tokens offer simple, hands-off exposure at the cost of flexibility. The rest of this guide focuses on the perpetual or margin short, since it is both the most popular and the most flexible.
How a perpetual or margin short actually works
Opening a short mirrors opening a long, just in the opposite direction. You post margin, choose leverage, and open a short position sized at margin multiplied by leverage. From there, every fall in the price adds to your profit and every rise subtracts from it.
Take a worked example. You open a $2,000 short on Bitcoin with $200 of margin at x10. If Bitcoin falls 5%, the position gains $100 — a 50% return on your margin. If Bitcoin rises 5% instead, that same $100 comes out of your margin. Two familiar costs apply: trading fees on entry and exit — on Margex, a 0.019% maker and 0.060% taker fee — and funding, exchanged between longs and shorts every eight hours for as long as the position stays open. As with any leveraged trade, the platform liquidates the position against a mark price if losses approach your collateral; on cross margin, Margex triggers that once the margin level falls to 10% or below.
How to place a short — step by step
Choose a platform. You need a venue that supports derivatives or margin trading, with a mark price built from several independent sources, a fee schedule you can live with, both margin modes and a demo to practise in. You can short crypto on Margex, for example, with leverage from x5 to x100 and a mark price aggregated from 12 liquidity providers.
Fund and pick a margin mode. Deposit, then choose isolated margin, which ring-fences one position, over cross margin, which backs every trade with your whole balance. Beginners should start isolated.
Size from equity. Decide the share of your balance you can lose on this trade — 1–2% is a sensible ceiling — and set leverage and size to fit, not the reverse.
Set a stop-loss. This matters even more on a short than a long, because the loss on a short is not capped. Place the stop before you open.
Open the short. Select short, confirm direction, leverage and size, and place the order. Entry, liquidation price and fees are all shown first.
Monitor funding and liquidation. Watch your margin level and remember funding is charged every eight hours. If the price rises toward your liquidation level, add margin or cut the position.
Close. Buy back to close, or let your stop or take-profit do it. The difference, after fees and funding, settles to your balance.
Why shorting is riskier than going long — the short squeeze
There is one asymmetry every short seller must understand. When you go long, the worst case is that the asset falls to zero — you lose 100% and no more. When you short, the price can keep rising with no ceiling, so your potential loss is theoretically unlimited. That is not a technicality; it is the defining risk of the trade.
The sharpest version of this is a short squeeze: a rapid price rise forces short sellers to buy back to limit their losses, and that buying pushes the price higher still, forcing yet more shorts to cover. The move feeds on itself and can be violent. It is exactly why a stop-loss and modest leverage are not optional on the short side.
Upside: you can profit in falling markets, hedge existing holdings, and act on a bearish view without selling coins you want to keep.
Downside: losses are uncapped in theory, funding costs accrue while you hold, and leverage makes liquidation quick. These are leveraged derivatives, not spot ownership, and generally sit outside retail investor protections.
FAQ
Can you short crypto?
Yes. Most derivatives and margin platforms let you open a short position that profits when the price falls, without owning or borrowing the underlying coin.
What does shorting crypto mean?
Taking a position that gains value when a crypto asset’s price drops. It is the reverse of buying: you profit from a decline rather than a rise.
How do you short Bitcoin?
Open a short position on a platform that offers Bitcoin derivatives or margin trading: post margin, choose leverage, and place a short. You close by buying back, and your profit or loss is the difference in price minus fees and funding.
Is shorting crypto risky?
More so than going long. A long can only fall to zero, but a short’s loss is theoretically unlimited because a price can keep rising. Stops, modest leverage and small position sizes are essential.
What is a short squeeze?
A rapid price rise that forces short sellers to buy back their positions, whose buying pushes the price up further and squeezes remaining shorts. It can cause sudden, outsized losses for anyone caught short.
Can you lose more than you invest when shorting?
On most crypto venues, liquidation closes your position before your balance goes negative, so losses are usually capped at your margin (isolated) or your account balance (cross). Without those safeguards, a short’s loss can in principle exceed the initial stake.
Do you need to own crypto to short it?
No. Shorting through derivatives means you never hold the coin — you hold a contract on its price, which is what makes shorting quick and wallet-free.
The post What Does Shorting Crypto Mean? How to Short Crypto and Bitcoin Explained (2026) appeared first on Blockonomi.

TLDR
The Senate’s Monday floor schedule includes no action on the CLARITY Act, the crypto market structure bill.
A cloture petition filed by Wednesday, August 5, could allow a procedural vote as early as Friday, August 7.
Republicans hold 53 Senate seats and need at least seven Democrats to reach the 60-vote threshold.
Senator Elizabeth Warren has called the bill “dead on arrival,” while other Democrats want stronger ethics language.
Even a Senate vote would not finalize the bill, since the House has already left for recess and must vote again on any changed text.
The Senate returned to work on Monday, August 3, with five working days left before its summer recess. The CLARITY Act, a bill meant to set clear rules for crypto markets, was not listed anywhere on that day’s floor schedule.
The bill is formally known as H.R. 3633, or the Digital Asset Market Clarity Act. It passed the House last year with support from both parties.
Monday’s only scheduled floor action was a cloture vote tied to a government spending bill, H.R. 6500. The Senate’s cloture ledger, which tracks procedural filings, shows no petition for the crypto bill through July 31.
That absence does not kill the legislation. It does mean Senate leaders currently have no confirmed path to a vote before lawmakers leave town.
What the Senate Clock Looks Like This Week
Senate rules require 16 senators to sign a cloture petition before a procedural vote can happen. Under the standard process, that vote typically comes about two days after filing.
If a petition is filed Wednesday, August 5, a vote could happen Friday, August 7. That vote would only decide whether to end debate on starting formal consideration of the bill, not whether to pass it.
Passing cloture would open up to 30 hours of further debate. The Senate would then still need to debate the bill itself, consider changes, and hold a separate vote on passage.
A faster process exists if both party leaders and 14 additional senators, split evenly, sign a joint petition. A unanimous consent agreement could move even quicker, but any single senator could block that route by objecting.
Democratic Support Remains the Main Obstacle
Republicans control 53 Senate seats. That means they need support from at least seven Democrats to clear the standard 60-vote threshold.
Seven Democratic senators, including Catherine Cortez Masto and Mark Warner, have said the current draft falls short. They are asking for stronger rules on ethics, consumer protection, and conflicts of interest.
Clarity Act Countdown! Senate's New Timeline Revealed & Will Trump Approve New Ethics?
WATCH https://t.co/c5f40bDcz2
Cody Carbone, CEO of The Digital Chamber, joined us to discuss the latest CLARITY Act timeline and the ongoing negotiations over the bill's ethics provisions.… pic.twitter.com/i0pW4eDnCW
— Tony Edward (Thinking Crypto Podcast) (@thinkingcrypto) August 1, 2026
Senator Elizabeth Warren has taken a harder stance, calling the bill “dead on arrival.” She argues its ethics provisions do not go far enough in limiting President Trump’s involvement in crypto projects.
Republican support is not fully unified either. Senator Cynthia Lummis has said Senator Josh Hawley remains resistant to backing the bill.
Banks have also raised objections, arguing that letting crypto exchanges pay returns on stablecoin holdings could pull money out of traditional bank accounts. Democrats separately sent updated ethics language to the White House on July 30.
Senate Majority Leader John Thune has placed other priorities, including nominations and a Russia sanctions bill, ahead of the CLARITY Act. He said on July 23 that he does not expect a vote before the break.
Why This Week Cannot Deliver Final Passage
Even if the Senate passes its version of the bill this week, that would not send it to the president’s desk. The House already passed a different version of the text and has already started its own recess.
Any Senate changes would require a new House vote before the bill could become law. That makes final passage this week impossible regardless of what happens on the floor.
Political money is already flowing around the debate. More than $125 million in crypto-linked political funds remains available, and outside groups have already spent $1.5 million on ads backing Senate candidates in Michigan and Iowa.
If the Senate cannot secure a procedural path by Friday, the bill’s next real opportunity comes September 14, when senators return from recess. Digital Chamber CEO Cody Carbone has already shifted his own expectations toward that September timeline.
The post CLARITY Act Missing From Senate Schedule Before August Recess appeared first on Blockonomi.

Key Takeaways
FFAI shares rallied following July robotics shipments that hit a record 152 units.
The company unveiled a three-phase U.S.-based robotics manufacturing initiative.
New FCC regulations create higher barriers for foreign robotics manufacturers entering the American market.
Faraday Future’s existing robot lineup holds necessary FCC certifications for uninterrupted U.S. operations.
The company aims to ship 2,000 robotics units by the close of 2026.
Shares of Faraday Future (FFAI) climbed 10.84% to reach $5.93, then extended gains by 18.82% to $7.05 in pre-market trading. The rally came after the company announced record robotics shipments in July and outlined a comprehensive U.S.-based manufacturing strategy. Faraday Future also highlighted how recent regulatory changes by the FCC could boost demand for domestically compliant robotics solutions.
Faraday Future Intelligent Electric Inc., FFAI
July Shipments Set New Robotics Benchmark
Faraday Future disclosed that it shipped 152 robotics units in July, establishing a new monthly high. This performance pushed the company’s cumulative shipments to 394 units through the end of July. The milestone demonstrates meaningful progress toward management’s year-end goal of 2,000 total units.
The robotics portfolio currently serves education institutions, industrial clients, security operations, inspection services, and various commercial sectors. Management emphasized that these verticals now enable broader adoption throughout its expanding robotics ecosystem. The firm anticipates sustained sales momentum as distribution networks and fulfillment capabilities continue to scale.
Faraday Future has designed its robotics approach around four pillars: hardware devices, software platforms, data intelligence, and vertical-specific solutions. This integrated model allows the company to pair hardware revenue with ongoing technology and service streams. Such an architecture positions the business to capture long-term value as customers implement increasingly sophisticated robotics applications.
New FCC Rules Create Competitive Advantage
On July 28, the FCC expanded its Covered List to include certain advanced robotic devices manufactured abroad. Under the updated regulations, newly listed products typically cannot obtain fresh FCC equipment authorizations. The rule changes affect mobile robotics platforms, including humanoid and quadruped configurations.
Faraday Future confirmed that its current robot product line already possesses the necessary FCC certifications. As a result, the company does not anticipate any interruption to its existing sales channels or supply chain operations. Management also indicated plans to secure additional certifications for upcoming products and regulated hardware components.
The company believes the new regulatory framework will impose higher compliance expenses on foreign manufacturers attempting to enter the U.S. market. Furthermore, executives anticipate increased partnership interest from suppliers looking to establish compliant distribution channels domestically. Faraday Future views these dynamics as a competitive tailwind for its California-headquartered robotics division.
Three-Phase U.S. Production Plan Announced
Faraday Future introduced a three-phase initiative designed to bring more robotics production onshore. Phase one encompasses software development, engineering tools, industry-specific applications, and the company’s proprietary robotics data infrastructure. These capabilities now form the operational backbone for expanded domestic manufacturing activities.
Phase two will transition select robot assembly processes and regulated component production to U.S. facilities. Following that, phase three aims to establish full-scale domestic manufacturing for complete robot systems and certain covered parts. The company believes this roadmap will enhance supply chain resilience and simplify regulatory oversight.
Faraday Future also announced plans to host a partner recruitment conference targeting robotics suppliers, distribution networks, end customers, and system integration firms. The gathering will focus on attracting manufacturers, component producers, dealer networks, rental service providers, and data ecosystem partners. Through these collaborative relationships, the company intends to accelerate U.S. market penetration and fortify its commercial robotics infrastructure.

The post Faraday Future (FFAI) Stock Climbs on Robotics Momentum and FCC Rule Changes appeared first on Blockonomi.

TLDR
A fourth attack wave moved 448.7 Bitcoin from 709 suspected victim addresses, according to Galaxy Research.
Combined losses across all four waves are estimated near 1,815 Bitcoin from 5,294 addresses.
Coinkite traced the flaw to a 2021 firmware update that swapped its true random number generator for a weaker one.
Kraken security chief Nick Percoco says the case shows hardware wallets lack independent testing standards other devices already use.
Coldcard has halted shipments, destroyed affected stock, and released fixed firmware, but users still must move funds to new seeds.
Coldcard, a maker of Bitcoin hardware wallets, is facing a wave of thefts tied to a firmware flaw that went unnoticed for five years. Blockchain research firm Galaxy Research says a fourth attack wave hit over the weekend.
That wave moved 448.7 Bitcoin from 709 suspected victim addresses. Galaxy’s head of research, Alex Thorn, called the addresses “likely Coldcard victims” based on transaction patterns, not confirmed device records.
Across all four waves, Galaxy estimates roughly 1,815 Bitcoin has been taken from 5,294 addresses. That number is not confirmed by Coinkite, police, or every wallet owner involved, and it assumes the victim groups don’t overlap.
LIKELY 4TH ORGANIZED WAVE COLDCARD ATTACK OCCURRING RIGHT NOW
THERE ARE STILL SIMILAR TXS IN THE MEMPOOL WAITING TO BE CONFIRMED AND THE PREVIOUSLY-CONFIRMED TXS SIGNAL RBF OPT-IN, CHECK YOUR FUNDS AND YOU MAY BE ABLE TO RBF YOUR WAY OUT OF THIS
pattern identified:
blocks…
— Alex Thorn (@intangiblecoins) August 3, 2026
How the Flaw Happened
Coinkite, the company behind Coldcard, says the problem began in March 2021 during a change to its cryptographic library. The update accidentally routed seed creation to a weaker software-based random number generator instead of the device’s intended hardware generator.
Coinkite said in its report that the weaker generator existed in the source code without the team knowing it was being called. Affected models include the Mk2, Mk3, Mk4, Mk5, and Q, each losing a different amount of randomness as a result.
Block’s engineering team reviewed the issue on its own and confirmed the firmware was calling the weaker fallback generator instead of the true hardware source. Block said it had not run full tests to confirm the flaw could be exploited, but agreed early disclosure was needed given the theft reports.
What Users Need to Do
Coinkite has released fixed firmware for every affected model. Installing it does not repair wallets that already created a weak seed.
Anyone with an older seed needs to generate a new one on the updated firmware, test it with a small transfer, then move the rest of their funds. Seeds made with at least 50 dice rolls, or protected by a strong passphrase, are not considered exposed by this specific issue.
Galaxy Research says some flagged transactions are still sitting unconfirmed in Bitcoin’s network. That gives affected owners a narrow chance to move funds first by sending a new transaction with a higher fee.
This only works before the original transaction is confirmed in a block, and there is no guarantee the replacement will succeed.
Kraken’s chief security officer, Nick Percoco, said the case points to a gap in how hardware wallets get tested. He compared it to standards already used for other cryptographic devices, saying wallet makers have no equal system to confirm which random number generator is actually running in production.
Coinkite halted all device shipments after confirming the bug and destroyed unsold units carrying the flawed firmware. The company has asked users not to throw away old devices, saying they may help identify stolen funds later.
https://t.co/BmZF7BjKQr
— COLDCARD (@COLDCARDwallet) August 2, 2026
Coinkite says its legal team plans to work with law enforcement in multiple countries as the investigation into the thefts continues.
The post Coldcard Bitcoin Wallet Flaw Leads to Fourth Attack Wave appeared first on Blockonomi.

FUNToken continues to expand its gaming ecosystem with the launch of Bolt Master, the latest addition to its growing portfolio of Android games. As the eighth mobile title released under the $FUN Games ecosystem, Bolt Master combines satisfying puzzle mechanics with real $FUN rewards, giving players another fun and rewarding way to engage with the platform.
In Bolt Master, players must carefully unscrew bolts, free wooden planks, and solve increasingly challenging puzzles one move at a time. Each level introduces fresh layouts that reward strategic thinking, precision, and problem-solving, creating an experience that is both relaxing and addictive.
A Puzzle Game Designed for Everyone
Bolt Master is easy to pick up yet offers enough challenge to keep players coming back for more. Whether completing a few quick levels or tackling more complex puzzles, players can enjoy smooth gameplay while earning real $FUN rewards as they progress.
Like every game in the $FUN Games ecosystem, Bolt Master delivers a player-first experience with:
Real $FUN rewards
No ads
No paywalls
Smooth, accessible gameplay
Free download on Android
Continuing to Grow the $FUN Games Ecosystem
The launch of Bolt Master reflects FUNToken’s ongoing commitment to expanding its gaming ecosystem with high-quality mobile experiences that provide genuine utility for the $FUN token. Each new release strengthens the ecosystem by giving players more ways to engage, earn rewards, and enjoy a seamless gaming experience.
With eight Android games now available, the $FUN Games ecosystem continues to grow while remaining focused on accessible gameplay, rewarding experiences, and continuous innovation.
Players can download Bolt Master today from Google Play and begin solving puzzles while earning real $FUN rewards.
About FUNToken
FUNToken powers a rapidly expanding ecosystem of games, rewards, and digital experiences designed to make earning and using $FUN simple and engaging. From mobile and web games to staking, rewards, and growing platform integrations, the ecosystem continues to provide more utility and accessibility for users worldwide.
With a focus on delivering high-quality gaming experiences, real $FUN rewards, and a seamless user experience, FUNToken is building an ecosystem where entertainment and utility go hand in hand.
The post FUNToken Expands Its Mobile Gaming Ecosystem with the Launch of Bolt Master appeared first on Blockonomi.

TLDR:
Bitcoin price crash pushed BTC toward $62,000, cut market value, and accelerated a broad crypto sell-off across major altcoins.
Total crypto capitalization fell toward $2.22 trillion, while the altcoin market shrank near $964 billion as liquidity retreated.
Cardano bucked the wider decline with a 15.3% weekly gain, although ADA still trades far below its historical peak and key resistance.
CLARITY Act delays, wallet-security concerns, geopolitical tension, and rising unrealized losses keep downside risks elevated.
Bitcoin’s late-July reversal turned a promising rally into a sharp Bitcoin price crash, dragging major altcoins lower across the market. BTC fell toward $62,000 after trading above $65,000, wiping billions from its valuation within hours. The total crypto capitalization reached near $2.22 trillion by August 2.
Altcoin capitalization also slipped to about $964 billion as Ethereum, XRP, Solana, and HYPE recorded weekly losses. Cardano moved against that pressure, with ADA posting a double-digit weekly gain.
Traders now face policy uncertainty, geopolitical tension, wallet-security concerns, and worsening on-chain losses. They are assessing whether selling pressure can deepen further.
Bitcoin Price Crash Pushes the Market Into Deeper Stress
The Bitcoin price crash followed a volatile week shaped by macro pressure and fading regulatory optimism. Bitcoin closed July with a modest monthly gain after surrendering much of its late-month advance. Latest market data showed BTC near $63,273, following an intraday low around $62,414.
This is how I think $BTC will trade next.
$50,000 could happen if the Clarity Act doesn't pass and the yen carry trade unwind starts. https://t.co/kTwHaufAcB pic.twitter.com/CDPKUVejeU
— Ted (@TedPillows) August 2, 2026
The Federal Reserve’s decision to hold rates steady offered little support for speculative assets. A risk-off tone developed as investors tracked conflict across the Middle East. Those pressures reduced appetite for leveraged positions and encouraged capital preservation.
Policy uncertainty added another layer of caution. The CLARITY Act has cleared the Senate Banking Committee, but passage before the August recess looks increasingly unlikely. Senate leaders face a limited calendar and unresolved disputes over ethics language. The bill also requires bipartisan support.
The Bitcoin price crash therefore reflects more than one catalyst. Regulatory delays, geopolitical risks, and weaker confidence are combining with technical structure. Security concerns returned after reports linked a Coldcard vulnerability to the theft of roughly 594 BTC from hundreds of wallets.
Cardano Strength Contrasts With the Wider Altcoin Rout
Cardano separated from the crypto market sell-off as ADA gained while large-cap tokens weakened. Latest market data placed ADA near $0.1885, up 9.6% from the previous close. The weekly chart shows a 15.3% advance, making Cardano the clearest outlier.
That strength did not erase Cardano’s longer decline. CryptoPatel says ADA remains 96% below its 2021 peak and 89% below its December 2024 swing high. The analyst placed demand between $0.086 and $0.150, where buyers previously supported an expansion.
Source: CryptoPatel on X
Cardano price action has reclaimed the upper edge of that area, but confirmation requires higher levels. The analyst marked $0.2887 as the first bullish trigger and $0.50 as the reversal level. A two-week close below $0.08 would invalidate the structure.
Those levels matter as the Bitcoin price crash keeps correlations elevated. Ethereum, XRP, Solana, and HYPE weakened during the weekly decline. Even assets with improving fundamentals can lose momentum when Bitcoin breaks support and liquidity retreats.
Market expectations show downside concern. Analyst Ted Pillows says Bitcoin could fall toward $50,000. His scenario requires the CLARITY Act to stall and a yen carry trade unwind to develop. Kalshi Crypto traders forecast a $50,000 Bitcoin print during 2026.
Cardano price resilience may reflect positioning inside a discounted range, not a confirmed reversal. The network has catalysts, including the Leios public testnet and Midnight ecosystem development. Traders are watching whether ADA can hold above $0.150 before challenging $0.2887. A break below $0.08 would materially weaken the setup.
The post Bitcoin Price Crash Sparks Altcoin Sell-off as Cardano Surges appeared first on Blockonomi.

TL;DR
Michael Saylor said Strategy has never committed to a “never sell” Bitcoin policy.
He stressed that the company’s Bitcoin monetization program does not require selling BTC.
Strategy still expects to remain a net buyer of Bitcoin over time.
The clarification comes after recent debate over Strategy’s treasury management and Bitcoin sales.
Strategy Executive Chairman Michael Saylor has clarified the company’s stance on Bitcoin sales, stating that Strategy has never formally committed to a “never sell” policy and still expects to accumulate more Bitcoin than it sells over the long term.
Michael Saylor: Strategy Never Promised It Would Never Sell Bitcoin and Expects to Remain a Net Buyer
Michael Saylor said Strategy has never committed to a “never sell” Bitcoin policy, and its BTC monetization program does not require the company to sell any Bitcoin. He added… pic.twitter.com/mgq4xN2nz5
— Wu Blockchain (@WuBlockchain) August 2, 2026
Responding to criticism surrounding the company’s treasury strategy, Saylor said any potential Bitcoin sale should be viewed as a corporate finance decision rather than a shift in the strategy’s long-term commitment to the digital asset. He added that the firm’s Bitcoin monetization program does not depend on liquidating its holdings and reiterated that Strategy expects to remain a net buyer of Bitcoin over time.
Clarification Follows Recent Questions Over Strategy’s Treasury Plans
Saylor’s comments come after investors questioned whether Strategy had softened its long-standing Bitcoin-first approach following disclosures that the company could sell Bitcoin if necessary to support treasury management and preferred stock obligations.
Earlier this week, Strategy reported a significant quarterly loss driven largely by Bitcoin’s decline below the company’s average acquisition cost. The company also confirmed it had sold Bitcoin for the first time in several years to help fund preferred stock dividends and has board authorization for additional sales if required for liquidity management.
However, Saylor emphasized that these measures should not be interpreted as abandoning the company’s accumulation strategy.
“We expect to remain a net buyer of Bitcoin,”
He said, reinforcing that any future sales would serve financial management purposes rather than represent a broader change in Strategy’s investment thesis.
Strategy Remains the Largest Corporate Bitcoin Holder
Despite recent discussion surrounding potential sales, Strategy continues to hold one of the largest Bitcoin treasuries in the world.
The company currently owns approximately 843,775 BTC, making it the largest publicly traded corporate holder of Bitcoin. Its Bitcoin treasury remains valued at tens of billions of dollars, although recent market weakness has reduced the portfolio’s market value compared with previous highs.
Since adopting Bitcoin as its primary treasury reserve asset in 2020, Strategy has repeatedly raised capital through equity offerings, convertible notes, and preferred stock issuances to finance additional purchases.
Saylor has consistently argued that Bitcoin represents superior long-term capital preservation compared with holding cash, a thesis that continues to shape the company’s treasury strategy despite short-term market volatility.
Market Watches Next Bitcoin Strategy Move
Strategy’s comments are likely to reassure many Bitcoin investors who viewed recent disclosures as a departure from Saylor’s long-standing advocacy for holding the cryptocurrency.
While the company has acknowledged that limited sales may occasionally be necessary for treasury operations, its broader strategy still centers on increasing Bitcoin exposure over time rather than reducing it.
The clarification also comes as institutional interest in Bitcoin remains strong through spot ETF inflows and continued corporate treasury adoption, even as the market navigates heightened volatility and macroeconomic uncertainty.
Going forward, investors will closely monitor Strategy’s future Bitcoin purchases, capital-raising initiatives, and quarterly filings to determine whether the company continues expanding its holdings, as Saylor has indicated.
The post Michael Saylor Says Strategy Never Promised to Hold Bitcoin Forever appeared first on Blockonomi.

TLDR:
Shiba Inu price drew fresh attention after community trackers reported roughly 2.96 billion SHIB burned during the latest seven-day period.
The weekly SHIB burn strengthened the scarcity narrative, but the amount remains negligible beside roughly 589.24 trillion circulating tokens.
SHIB’s sixth anniversary arrived alongside stronger trading interest, rising holder visibility, and renewed focus on its market capitalization ranking.
Shibarium activity, LEASH v2 delivery, exchange flows, and recurring ecosystem burns will matter more than isolated transfers for sustained demand.
Shiba Inu price returned to focus after community trackers recorded nearly 3 billion SHIB removed within seven days. The reported 2.96 billion total marked the strongest weekly burn in roughly one year. It arrived as the token celebrated its sixth anniversary and attracted renewed trading interest.
SHIB briefly rallied before surrendering part of those gains during a wider market pullback. Coingecko data shows SHIB near $0.000005, up 0.84%, with a $2.94 billion market value and $142 million daily volume.
Shiba Inu (SHIB Price)
Shiba Inu Price Reacts as Weekly Burn Reaches New Peak
The weekly SHIB burn included several large transfers to inaccessible wallets. One transaction removed more than 757 million tokens. Ecosystem projects contributed smaller burns through Ethereum activity.
Shibburn data shows the 30-day burn near 3.2 billion SHIB. Momentum accelerated during late July. Another 124 million tokens reportedly entered dead wallets as August began.
The totals sound large, yet they represent a tiny share of SHIB’s circulating supply. CoinMarketCap lists roughly 589.24 trillion tokens circulating and 589.49 trillion in total supply. It also shows more than 3.06 million holders. Therefore, a multi-billion-token SHIB burn removes only a minute fraction of available coins.
HOURLY SHIB UPDATE$SHIB Price: $0.00000497 (1hr -0.27% ▼ | 24hr 2.71% ▲ )
Market Cap: $2,930,406,001 (2.71% ▲)
Total Supply: 589,156,420,211,280
TOKENS BURNT
Past 24Hrs: 124,023,282 (405.21% ▲)
Past 7 Days: 2,901,334,219 (-92.26% ▼)
— Shibburn (@shibburn) August 2, 2026
That supply gap explains why traders often treat burns as sentiment indicators. Burns can strengthen scarcity expectations, but they rarely create immediate price pressure alone. Buyers must also absorb exchange selling and support deeper spot liquidity.
The Shiba Inu price gained attention after trading volume expanded during the anniversary rally. Stronger turnover suggested active participation rather than a thin move. However, the pullback showed short-term traders still controlled momentum.
SHIB also moved closer to nearby ranked assets by market capitalization. Its position can change quickly as prices fluctuate across altcoins. Ranking progress may attract visibility, although it does not alter network usage or token economics.
Anniversary Momentum Meets Supply and Ecosystem Tests
The Shiba Inu anniversary marks six years since the Ethereum-based token launched in August 2020. CoinMarketCap identifies the project’s creation during that month and records its October 2021 all-time high. The milestone highlights SHIB’s transition from a meme-led launch into a broader digital asset ecosystem.
From zero to a global movement.
Six years of holders, builders, believers and one of the strongest communities in crypto.
The experiment continues.
Happy 6th Birthday ethereum:0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce #SHIBTurns6 pic.twitter.com/keddjRljF7
— Shib (@Shibtoken) August 1, 2026
Shibarium now forms a central part of that ecosystem. The layer-2 network supports lower-cost activity and gives developers infrastructure for applications, transfers, and community projects. Increased usage could produce more durable demand than isolated burn events.
The project’s development pipeline also includes LEASH v2 work. Official updates describe migration planning, exchange coordination, testing, audits, and community governance. Developers have also discussed privacy-focused ideas involving Zama, although final designs require further review and voting.
Metaverse development adds another long-term component. The official project describes its virtual world as a community environment connected with SHIB, LEASH, BONE, and Shibarium. Execution will matter more than announcements as investors assess adoption.
For the Shiba Inu price, sustained ecosystem activity could make burns more meaningful. Tokens removed through regular network use carry a different signal from one-off whale transfers. Recurring usage links scarcity with actual demand, fees, applications, and user growth.
Whale activity also deserves attention. Large transfers can support accumulation narratives, but they can increase volatility when tokens move toward exchanges. Holders should compare burn activity with exchange reserves, large transaction counts, and spot volume.
The current SHIB burn narrative rests on three connected signals: supply reduction, community engagement, and product delivery. Burn totals may support attention, while Shibarium adoption determines whether that interest develops into lasting network activity. The Shiba Inu price will respond most strongly when usage growth and market demand rise together.
The post Shiba Inu Price Climbs After Weekly SHIB Burn Nears 3 Billion appeared first on Blockonomi.

TLDR:
Strategy Bitcoin sales could total up to $5 billion across reserve funding, annual dividend and interest costs, and security repurchase programs.
Strategy reported an $8.22 billion Q2 net loss, while an $8.32 billion digital-asset loss reflected Bitcoin’s lower quarter-end valuation.
The company holds 843,775 BTC at an average cost near $75,476, leaving the treasury below its aggregate purchase cost at current prices.
Management is prioritizing STRC price support, cash reserves, and debt flexibility instead of directing every new capital raise toward Bitcoin.
Michael Saylor’s Strategy has opened the door to further Bitcoin sales after reporting a second-quarter loss. The proposed Strategy Bitcoin sales framework could release up to $5 billion for liquidity, dividends, interest, and security repurchases. However, management has not committed to selling that full amount.
The figure represents a ceiling across several capital programs, not one planned transaction. Strategy posted an $8.22 billion quarterly net loss, reversing a $10.02 billion profit from the prior-year period. Its filing also showed an $8.32 billion digital-asset loss. Bitcoin’s lower quarter-end value mostly drove that decline during an especially volatile market quarter.
The company now holds 843,775 BTC after selling a small portion of its treasury during 2026. Those coins cost about $63.69 billion, averaging roughly $75,476 each. Bitcoin traded near $63,047, placing the position below its aggregate purchase cost. MSTR also traded near $93.28, down 4.56% during the latest session.
Strategy Inc., MSTR
Strategy Bitcoin Sales Framework Sets a $5 Billion Ceiling
Strategy’s capital framework separates potential Bitcoin monetization into three uses. Management could direct up to $1.25 billion toward its United States dollar reserve. Another $1.76 billion could cover annual preferred dividends and debt interest. The company also has authority for up to $2 billion in common stock and digital credit repurchases. Together, those programs create the headline $5 billion capacity.
That structure does not mean Strategy will sell $5 billion in Bitcoin. CEO Phong Le described the amount as a maximum based on current programs and market needs. Actual sales could stay below that level. Michael Saylor also indicated that management wants flexibility when Bitcoin sales create better outcomes than equity issuance.
Never sell your Bitcoin.
— Michael Saylor (@saylor) February 2, 2025
Strategy Bitcoin sales have moved beyond theory. The company sold 3,588 BTC around the quarter’s close and early July. Those transactions reduced holdings from 847,363 BTC to 843,775 BTC. Strategy received roughly $216 million from the two disclosed blocks, according to reported filing details. The company used Bitcoin monetization to support dividends and liquidity rather than fund new purchases.
The shift marks a change from Strategy’s earlier accumulation-only message. Nevertheless, management still describes Bitcoin as its central treasury asset. The company can combine Bitcoin sales, common equity issuance, preferred stock offerings, and cash reserves. That approach gives Strategy more options during periods when MSTR trades near net asset value.
STRC Support and Cash Reserves Shape the Next Move
STRC preferred stock has become a central part of the company’s capital plan. Management wants the security to return toward its $100 stated value. Repurchasing discounted STRC shares could lower future dividend costs while supporting market confidence. Strategy Bitcoin sales could provide funding when issuing new common shares would create excessive dilution.
The company ended the quarter with a $3.75 billion United States dollar reserve. Management said that balance covers more than 2.1 years of preferred dividends and debt interest. Strategy also reduced convertible debt to about $6.71 billion after repurchasing $1.5 billion of notes at a discount. Earlier company disclosures confirmed the debt reduction and broader capital-management approach.
Old news presented as new. Strategy announced this authorization on June 29 as part of its capital-management framework. It permits, but does not require, BTC sales for stated purposes. No new authorization was announced, and we expect to remain a net buyer of Bitcoin over time.
— Michael Saylor (@saylor) August 1, 2026
Recent research notes stayed constructive on Strategy despite Bitcoin volatility. TD Cowen kept a Buy rating but cut its target to $260. Benchmark maintained a Buy rating and $570 target in late July. It said the larger reserve improves dividend flexibility and supports future Bitcoin purchases without abandoning Strategy’s long-term plan.
Strategy has not placed Bitcoin-backed borrowing under active review. Management cited counterparty exposure and margin risks around that financing route. Strategy Bitcoin sales will depend on Bitcoin prices, STRC trading levels, reserve needs, repurchase opportunities, and investor demand.
Management will also assess whether each transaction raises Bitcoin per share for common investors over time.
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TLDR:
DEX spot volume reached 24% of CEX trading in July 2026, marking its highest recorded share since 2019.
The ratio rose even as monthly DEX turnover fell 26%, showing relative gains during weaker market activity.
Solana led 30-day DEX trading with $49.86 billion, surpassing BNB Chain, Ethereum, and Base combined.
DEXs dominate new-token access, while CEX platforms retain deeper liquidity, fiat services, and support.
Decentralized exchanges captured a record share of centralized trading in July 2026, marking their strongest performance since tracking began in 2019. Wu Blockchain reported that DEX spot volume reached 24% of CEX activity, using The Block data citing DefiLlama.
DEX Spot Volume Reaches Record 24% of CEX Volume, Highest Since Tracking Began in 2019
According to The Block, citing DefiLlama data, DEX spot trading volume rose to about 24% of CEX volume in July 2026, the highest level since the series began in 2019. The ratio stayed below… pic.twitter.com/H6F06lHP8g
— Wu Blockchain (@WuBlockchain) August 2, 2026
The milestone extended a shift toward on-chain trading, although it did not indicate record volume across decentralized platforms. Instead, the ratio showed decentralized venues gaining ground while activity across both market segments weakened during July.
Record DEX Share Climbs Despite Lower Monthly Trading Volume
The Block calculates the ratio by dividing decentralized exchange activity by volume from centralized platforms with reporting. Its sample covers the 30 largest exchanges ranked by DefiLlama volume, so the figure reflects a dataset.
According to the report, the ratio stayed below 10% during 2024, then accelerated during 2025 as on-chain markets expanded across networks. During 2026, it generally ranged between 18% and 21% before reaching July’s 24% peak.
However, July’s record ratio did not mean decentralized platforms handled their highest monthly dollar total. Blockworks data estimated spot trading near $130.77 billion, down 26% from June.
That estimate represented the lowest monthly total since September 2024. Therefore, the share rose as centralized activity weakened faster, decentralized turnover declined less sharply, or both occurred together.
A DefiLlama dashboard placed CEX spot volume at $951.8 billion in April, its lowest level in 25 months. Centralized activity later recovered to about $1.11 trillion in June. Even so, July’s ratio showed decentralized platforms retaining stronger momentum within the measured market.
Lower-Cost Networks and Token Access Drive DEX Expansion
Trading has spread beyond Ethereum as lower-cost blockchains attracted users seeking faster settlement and cheaper transactions. DefiLlama’s latest 30-day data placed Solana first with $49.86 billion.
BNB Chain followed with $31.04 billion, while Ethereum recorded $28.84 billion. Base added $22.38 billion, reinforcing the multichain structure of decentralized trading.
Token availability also widened the gap between decentralized and centralized listings. CoinGecko found Uniswap supported 13.69 million token listings between January 2025 and January 2026.
Moreover, Pump.fun supported 5.01 million during the same period. By comparison, MEXC and Gate each added roughly 1,300 assets, despite leading centralized listing activity.
This difference made decentralized platforms the primary marketplaces for newly created tokens before centralized exchanges completed reviews. Memecoin trading accelerated that shift beginning in 2024.
CoinGecko estimated that decentralized spot-market share rose from 6.9% in January 2024 to 13.6% in January 2026. Over the same period, monthly trading volume increased from $95.86 billion to $231.29 billion.
Despite those gains, CEX platforms still dominate overall liquidity. They offer fiat services, customer support, familiar accounts, and deeper markets for major cryptocurrency pairs.
At the same time, DEX users carry greater responsibility for wallet security, contract verification, transaction fees, liquidity, and slippage. They also face risks from smart-contract flaws, fraudulent tokens, front-running, oracle manipulation, and exploits.
Therefore, July’s 24% reading reflected stronger competition rather than the displacement of centralized exchanges. Decentralized platforms gained market share through wider asset access and cheaper networks, while CEXs remained the industry’s largest liquidity hubs.
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TLDR:
U.S. ETF launches reached a record two-month pace, with about 390 new funds entering the market in total.
Derivatives power 54% of this year’s launches, while leveraged and inverse funds account for over one-third.
U.S. ETF assets reached $15.60 trillion in May as investors continued moving capital away from mutual funds.
Closures also accelerated, with 73 leveraged or inverse ETFs shutting by July 23, triple the total for 2025.
TheU.S. ETF market is adding products at record speed, with issuers favoring leveraged, inverse, and derivatives-based strategies. A Bloomberg and Goldman Sachs chart shared by The Kobeissi Letter showed about 390 launches during the latest two-month period.
The US ETF industry is seeing unprecedented growth:
There have been ~390 US-listed ETF launches over the last 2 months, the largest 2-month increase on record.
This figure has more than tripled since the start of 2024.
As a result, more ETFs have launched over the last 2… pic.twitter.com/T9gx8TwfxC
— The Kobeissi Letter (@KobeissiLetter) August 1, 2026
That marked the largest increase since the series began in 2016 and exceeded the early-2024 pace by more than three times. Issuers therefore introduced more funds in two months than during 2024’s first half.
Derivatives Drive a Record Wave of New ETF Launches
The composition of the launch wave has changed alongside its scale. Kobeissi reported that derivatives power 54% of this year’s new products, while leveraged or inverse funds represent more than one-third.
Moreover, fund managers have filed applications for over 1,000 leveraged products. These filings show issuers expanding short-term trading tools linked to stocks, cryptocurrencies, artificial intelligence, and other volatile industries.
Although industry totals vary, every major dataset points to a record product-development cycle. The differences arise as research firms count listings, registrations, share classes, and global products using separate methodologies.
For instance, Morningstar data cited by the Financial Times counted 1,084 new ETFs by mid-July. That total was already approaching the full-year 2025 record of 1,161 launches.
Similarly, MarketWatch recorded 953 launches during 2026 through July 23. While the figures are not directly comparable, both confirm that the pace of new product creation has accelerated sharply.
Regulatory changes have also supported this expansion. In 2019, the Securities and Exchange Commission adopted Rule 6c-11, creating a standardized operating framework for qualifying ETFs.
As a result, fund managers no longer faced the same costs and delays associated with seeking individual exemptive orders. The rule therefore gave established firms and smaller specialists a simpler route to market.
At the same time, investor assets continued moving toward exchange-traded products. Investment Company Institute data showed that U.S. ETF assets reached $15.60 trillion in May 2026.
ICI also reported that domestic ETF assets increased from $2.1 trillion in 2015 to $13.4 trillion by the end of 2025. This growth reflected broader adoption among retail investors, financial advisers, and institutions.
Daily Resets and Fund Closures Increase Investor Risks
However, leveraged and inverse products differ substantially from conventional index funds. These products commonly use swaps, futures, or options to deliver a multiple of an asset’s daily return.
According to SEC warnings, most leveraged and inverse ETFs reset their exposure after every trading session. Consequently, returns over longer holding periods can differ sharply from the advertised daily multiple.
This divergence results from daily compounding, market volatility, and continuous portfolio rebalancing. Moreover, single-stock products concentrate exposure and can lose most or all their value during extreme price movements.
At the same time, fund closures have increased alongside launches. MarketWatch reported that 73 leveraged or inverse ETFs had closed by July 23, triple the number shuttered throughout 2025.
These figures show that issuers are testing increasingly narrow products before discontinuing those that fail to attract sufficient assets or trading volume. As a result, investors must examine each fund more carefully.
Fees, liquidity, trading spreads, derivatives exposure, daily-reset mechanics, and long-term fund viability now matter as much as the underlying investment theme. Therefore, greater product choice has also introduced additional complexity.
Overall, the U.S. ETF market is expanding through both low-cost portfolio funds and tactical trading products. Its record launch pace now reflects growing scale, deeper specialization, and greater investor risk.
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