Blockonomi

Compromised oracle credentials let false market prices pass Ostium’s verifier as legitimate reports.
Eight payouts to one wallet helped confirm the final loss of 23,752,746 USDC from the protocol’s OLP vault.
Trader collateral stayed isolated, but open positions remain frozen until a secure relaunch is ready.
Most stolen USDC became 12,084 ETH before entering Tornado Cash, making recovery efforts more difficult.
Ostium has confirmed that its July 15 security breach drained 23,752,746 USDC from the protocol’s liquidity-provider vault. According to the report, the attacker compromised offchain pricing infrastructure and submitted false reports that appeared legitimate to the platform.
An update on where things stand:
What happened
On July 15, Ostium’s LP (liquidity provider) vault was exploited for 23,752,746 USDC. Based on our ongoing investigation, the attacker compromised off-chain infrastructure related to the system that feeds prices into the protocol.…
— Ostium (@Ostium) July 19, 2026
Those reports enabled positions to open and close at fabricated profits paid from the Ostium Liquidity Pool. Trading remains suspended while the Arbitrum-based platform strengthens safeguards and prepares a restart.
How Compromised Credentials Converted Fake Prices Into USDC
Ostium offers perpetual contracts linked to stocks, commodities, currencies, indices, and cryptocurrencies, with transactions settling in USDC on Arbitrum. To support these markets, external systems supply the prices used for entries, exits, liquidations, and profit calculations.
Meanwhile, liquidity providers deposit USDC into the OLP vault, which covers profitable trader positions. As a result, the vault became the payout source when fabricated gains passed through the protocol’s settlement process.
Galaxy Research traced eight payments to a single wallet, including transfers worth approximately $11.86 million, $4.49 million, and $3.59 million. Further payouts of $2.7 million and $1.08 million also supported Ostium’s final loss calculation of nearly $23.75 million.
However, the exploit did not depend on market volatility or a direct failure within the core trading contracts. Instead, the attacker obtained credentials connected to two privileged components in the platform’s pricing system.
According to Galaxy, Ostium’s verifier checked whether each price report carried a signature from an approved oracle signer. Nevertheless, the system did not independently confirm whether the submitted price accurately reflected the wider market.
The attacker reportedly controlled both an authorized signer credential and a registered PriceUpKeep forwarder. Together, those privileges allowed future-dated price reports to pass the protocol’s checks before repeated position cycles generated artificial gains.
Blockaid detected an @Ostium Vault exploit on Arbitrum.
An attacker used a registered PriceUpKeep forwarder and future-dated authorized oracle reports to create artificial trade profit, triggering a ~$18M USDC payout from the vault.
More details in
— Blockaid (@blockaid_) July 15, 2026
Consequently, the contracts continued operating according to their programmed rules, but they relied on compromised data. In effect, legitimate credentials made false market information appear valid, converting manipulated prices into real USDC payouts.
Trading Stays Frozen as Investigators Track the Funds
Although the liquidity vault suffered major losses, Ostium said trader collateral remained protected in a separate, isolated contract. Open positions remain frozen, and users cannot adjust their margins during the shutdown.
When trading eventually resumes, the protocol will value positions using the reopening price rather than prices recorded during the suspension. This approach reduces the impact of market movements that traders could not respond to while the platform remained unavailable.
Ostium said it paused trading and froze the affected contracts within 60 minutes of the first malicious transaction. Since then, the platform has worked with Mandiant, zeroShadow, Collisionless, SEAL 911, law enforcement, exchanges, bridges, and stablecoin issuers.
Meanwhile, investigators continue tracing the stolen assets and reviewing the infrastructure needed for a secure relaunch. Ostium has also promised to provide users with at least 24 hours’ notice before trading contracts are reopened.
The funds, however, have already moved through several stages. Lookonchain reported that the attacker exchanged 23.75 million USDC for approximately 12,084 ETH at an average price of about $1,966.
Most of the ether later entered Tornado Cash, which obscures links between deposits and subsequent withdrawals. As a result, recovering the stolen assets has become more difficult for investigators and participating service providers.
The attack affected a platform that had reported more than $50 billion in cumulative trading volume across 75 supported markets. Ostium also raised $24 million in December 2025, bringing its total disclosed funding to $27.8 million.
Ultimately, the incident shows how compromised offchain infrastructure can weaken otherwise functional onchain contracts. Ostium’s recovery will therefore depend on stronger credential controls, independent price verification, and tighter operational safeguards.
The post Inside the Ostium Exploit: How False Prices Unlocked a $23.75M Heist appeared first on Blockonomi.

Bitcoin’s rebound has now created a dense short-term holder supply cluster between $62,000 and $65,000.
A sustained move above $66,000 would clear local resistance and strengthen the recovery’s technical structure.
Glassnode places the wider short-term holder break-even level near $69,000, above the immediate breakout zone.
Cooling long-term holder selling contrasts with weak ETF inflows and limited confirmation from spot demand.
Bitcoin is approaching a key on-chain test after recovering from roughly $57,000 and moving toward the $66,000 resistance area. The rebound shifted recent supply into a new concentration between $62,000 and $65,000, according to Glassnode researcher CryptoVizArt.
The STH Cost Basis Distribution heatmap shows a fresh wave of supply rotating into new buyers' hands over the $62k-$65k range, during the rally from $57k.
This is a double-edged structure. On one hand, buyers aggressive accumulated into the strength create a potential cost basis… pic.twitter.com/ve2adOepyO
— cryptovizart (@cryptovizart) July 18, 2026
The asset traded near $64,733 at press time, placing it inside the acquisition zone formed during the recovery. This structure turned $66,000 into the immediate breakout level, while $69,000 remains the broader short-term holder break-even point.
New Buyer Cost Basis Builds Support Below $66K
Glassnode’s Short-Term Holder Cost Basis Distribution Heatmap shows where active coins were acquired. Brighter areas mark larger supply concentrations with similar estimated purchase prices.
According to CryptoVizArt, the latest heatmap indicates that coins sold during the decline changed hands during the rebound. As a result, recent buyers now hold supply between $62,000 and $65,000.
Glassnode uses the range to assess behavior as break-even holders often respond when markets revisit their entry levels. The cluster therefore marks the first support area below the current price.
However, the $66,000 threshold does not represent the broader short-term holder cost basis. Glassnode’s July 15 report placed the average entry price for buyers from the previous five months near $69,000.
Consequently, $66,000 reflects a local resistance zone linked to recent activity, while $69,000 represents the wider cohort’s average break-even level. The distinction separates a near-term breakout test from a broader recovery benchmark.
Glassnode also noted that Bitcoin spent about five months below both its active-investor and short-term holder cost bases. The firm described that period as unusually prolonged within its historical deep-value framework.
Cooling Holder Selling Still Lacks Strong Spot Demand
Despite that extended weakness, the on-chain picture has become less bearish as long-term holder capitulation begins to ease. Glassnode said selling from older holders reached a cycle peak before gradually declining.
Profit-taking among long-term investors has also largely dried up. Meanwhile, the Accumulation Trend Score showed buying across wallet sizes near the June lows.
These readings indicate that demand absorbed coins released during the sell-off. They also explain why the rebound created a visible supply band above $62,000.
However, U.S. spot Bitcoin ETF flows have not yet delivered consistent confirmation. Redemptions slowed from their June extreme, but sustained inflows have not returned.
Derivatives traders have reduced downside positions, according to Glassnode. Still, that adjustment has not been matched by strong spot-market buying.
Meanwhile, macro conditions remain restrictive. Bitcoin reacted positively to softer U.S. inflation data, yet 10-year real yields stayed near a 2026 high of 2.4%.
The dollar also remained above its 200-day average from May onward. Higher real yields reduce the relative appeal of non-yielding assets, including digital assets.
The market structure now centers on three levels. The $62,000-to-$65,000 band marks near-term support, $66,000 is the local breakout threshold, and $69,000 is the broader break-even level.
The framework treats moves above both resistance points as confirmation of stronger recovery conditions. However, a $66,000 rejection keeps the market below the accumulation cluster’s upper boundary.
The post Bitcoin Tests $66K Breakout as Short-Term Holder Supply Rises appeared first on Blockonomi.

Saylor argues Bitcoin rules should remain neutral and avoid policing lawful, fee-paying transaction activity.
BIP 110 proposes temporary limits on data-heavy transactions, including OP_RETURN and Taproot-related uses.
Miner backing remains near 0.86%, dramatically below the 55% signaling threshold required for lock-in.
The debate now centers on whether decentralization needs stricter limits or broader transaction neutrality.
Strategy Executive Chairman Michael Saylor has sharpened his opposition to BIP 110, framing the proposal as a direct test of Bitcoin’s transaction neutrality.
https://t.co/wmUErVBFOo
— Michael Saylor (@saylor) July 18, 2026
In a July 18 essay titled “110 Reasons BIP 110 Is a Bad Idea,” Saylor argued that protocol rules should not police lawful blockspace use. Instead, he said transaction fees, miner choice, and local node policies should determine which activities compete for limited capacity.
BIP 110 Restrictions Intensify Bitcoin Governance Debate
BIP 110, known as the Reduced Data Temporary Softfork, proposes a one-year change to consensus rules. The document, published under the name Dathon Ohm, is listed as “Complete” in the improvement proposal repository.
However, that label only shows that the technical specification is finished. It does not indicate broad agreement, activation, or adoption by the network.
The plan introduces seven temporary restrictions aimed at limiting data-heavy transactions. New output scripts would generally be capped at 34 bytes, while OP_RETURN outputs would face an 83-byte ceiling.
It would also limit data pushes above 256 bytes, Taproot annexes, large control blocks, undefined witness versions, and selected Tapscript operations. Coins created before activation would remain grandfathered and could be spent under existing rules.
Supporters argue that these limits would reduce arbitrary data placed on-chain through Ordinals inscriptions, BRC-20 tokens, and similar applications. They say large payloads increase storage, bandwidth, and validation burdens for full-node operators.
They also contend that non-payment activity competes with ordinary transfers for scarce blockspace. As demand rises, fees can increase and independently validating the network may become more expensive.
Saylor accepts concerns about node accessibility, but he rejects consensus enforcement as the solution. His essay says rule changes should address clear failures threatening monetary operation, not disputes over transaction purpose.
Under that approach, miners would remain free to select fee-paying transactions. Individual nodes could also apply relay filters without redefining which transactions the entire network considers valid.
Weak Miner Support Complicates BIP 110 Activation
The proposal’s activation method has become another source of controversy. Miner lock-in requires 55% signaling during a 2,016-block difficulty period.
It also contains a user-activated path scheduled to approach in August 2026. Bitcoin Core does not enforce the proposal under its current software.
According to Bitcoin Optech, miners using Core would need outside block-template software, or they would need to mine empty blocks, to guarantee compliance after activation.
Current signaling remains near 0.86%, far below the required threshold. Major mining pools have not publicly joined the effort, making miner-led activation unlikely under present conditions.
Nevertheless, nodes running the implementation could still attempt enforcement through the scheduled user-activated mechanism. That possibility keeps the dispute active despite limited miner participation.
The conflict now reaches beyond inscriptions or token activity. It asks whether Bitcoin neutrality means accepting every valid, fee-paying transaction under existing consensus rules.
BIP 110 supporters argue that tighter limits could protect decentralization by reducing long-term operational costs. Saylor argues that the protocol should remain neutral toward transaction intent. The distinction defines the present debate.
His closing line summarized that position clearly: “Bitcoin does not need guardians of purity. It needs guardians of neutrality.”
The post Michael Saylor Escalates Opposition to BIP 110 in Bitcoin Neutrality Debate appeared first on Blockonomi.

U.S. regulators missed the July 18 deadline, leaving key GENIUS Act stablecoin rules unfinished for issuers.
Major proposals on reserves, redemptions, capital, custody, and compliance remain under federal review.
The law still takes effect by January 18, 2027, unless final regulations trigger an earlier operational start.
Issuers, banks, and exchanges now face months of planning around incomplete federal compliance requirements.
U.S. financial regulators missed the GENIUS Act’s July 18 rulemaking deadline, leaving the country’s new payment-stablecoin framework largely dependent on unfinished proposals. Although the delay does not suspend the law, it complicates preparations for issuers, banks, exchanges, and other companies ahead of the January 2027 start date.
The missed deadline follows the law’s enactment one year earlier. President Donald Trump signed the GENIUS Act on July 18, 2025, establishing the first comprehensive federal framework focused specifically on payment stablecoins.
GENIUS Act stablecoin rulemaking deadline: July 18, 2026
July 18 marks the one-year statutory deadline for six federal agencies (the
OCC, FDIC, NCUA, Treasury, FinCEN, and OFAC) to finalize implementing rules for the GENIUS Act's payment stablecoin framework.
Tick tock
— Jake Claver, QFOP (@beyond_broke) July 18, 2026
Under the law, only approved federal or state-regulated entities may issue qualifying tokens, while issuers must maintain reserves equal to the value of stablecoins in circulation.
Federal Stablecoin Rulebooks Remain Unfinished
The framework seeks to make dollar-linked tokens function more like regulated payment instruments than lightly supervised digital products. To support that goal, permitted issuers must maintain one-to-one backing with highly liquid assets, including cash, bank deposits, and short-term Treasury securities.
The law also establishes standards for redemptions, reserve disclosures, capital, liquidity, custody, risk management, and insolvency protections. Moreover, issuers cannot directly pay interest to holders and must comply with anti-money-laundering and sanctions requirements under the Bank Secrecy Act.
Despite those statutory requirements, the agencies responsible for implementation have not completed their central rulebooks. In March, the Office of the Comptroller of the Currency issued a broad proposal covering licensing, reserves, redemptions, capital, custody, and supervision.
The Federal Deposit Insurance Corporation later proposed prudential standards for stablecoin subsidiaries of state-chartered banks. At the same time, the National Credit Union Administration introduced separate licensing and operational requirements for subsidiaries of credit unions.
However, none of those major frameworks had become final by the law’s first anniversary. Several related proposals also remained open for public comment after the July 18 deadline.
For instance, a joint customer-identification proposal remains open through August 21. Meanwhile, an FDIC proposal covering Bank Secrecy Act and sanctions compliance accepts comments through August 4.
In addition, proposed FDIC reporting forms remain open for feedback until September 18. Regulators must then review the submissions and coordinate standards across banks, credit unions, nonbank issuers, state regimes, and foreign companies.
As a result, several important compliance areas remain unsettled. The pending frameworks address capital levels, reserve valuation, redemption timing, and permitted business activities across different supervisory systems.
They also cover foreign companies seeking access to U.S. customers under the law. Until regulators finalize those standards, firms must continue preparing around requirements that remain incomplete.
January 2027 Emerges as the Key Compliance Date
Missing the rulemaking date does not immediately outlaw stablecoins or place existing issuers automatically in violation. Instead, the GENIUS Act takes effect on the earlier of January 18, 2027, or 120 days after final regulations appear.
Because the complete package remains unfinished, January 18 now stands as the clearest operational date under the law’s existing timetable. Agencies still have months to finalize rules and give companies clearer compliance instructions.
That remaining period matters considering the stablecoin market exceeded $300 billion by April 2026. Issuers may need to restructure reserves, improve customer-identification systems, build redemption procedures, and choose federal or state supervision.
Banks and cryptocurrency platforms must also determine which tokens they can support under the new regime. Final rules will define how custody, foreign stablecoins, rewards programs, and activities beyond issuance fit within the framework.
For now, the missed deadline leaves the law intact but the operating details incomplete. The industry therefore enters its final preparation period with binding principles established and critical procedures still awaiting approval.
The post U.S. Stablecoin Rules Stall as Regulators Miss GENIUS Act Deadline appeared first on Blockonomi.

Two U.S. service members were killed and one remained missing after Iran struck Muwaffaq Salti Air Base.
High-speed, maneuvering missiles challenged layered defenses, though CENTCOM has not identified the weapons.
Earlier attacks on regional radars may have reduced warning time available to Patriot and THAAD crews.
U.S. officials are reviewing foreign targeting support, but no direct link has been publicly confirmed.
An Iranian ballistic-missile and drone attack on a military base in Jordan killed two U.S. service members and left another missing on July 17. U.S. Central Command said forces were defending against incoming weapons when the casualties occurred at Muwaffaq Salti Air Base near Azraq.
BREAKING: Iranian ballistic missiles have adapted to US air defenses, firing at extremely high speeds and maneuvering as they streak back toward Earth, with US officials saying Iran is getting targeting help from China and/or Russia due to the unusually high precision and…
— The Hormuz Letter (@HormuzLetter) July 18, 2026
Four injured troops were evacuated to hospitals in Jordan and later discharged, while personnel treated for minor injuries returned to duty. The deaths marked a major escalation in renewed fighting between Washington and Tehran and focused attention on complex regional missile attacks.
Advanced Missiles Strain Jordan’s Layered Air Defenses
The strike reportedly involved advanced Iranian missiles that traveled at high speeds and maneuvered during their final approach. Those characteristics can complicate interception as defenders must track changing flight paths while making engagement decisions.
However, CENTCOM has not identified the missile models used or explained how the weapons penetrated the base’s defenses. Iran describes its Fattah missile as hypersonic, although the capabilities demonstrated in Jordan remain unconfirmed.
A weapon generally requires speeds above Mach 5 and atmospheric maneuverability to meet the hypersonic classification. Without technical details, the attack confirms danger but not the missiles’ exact performance.
The base faced repeated attacks during the conflict. Earlier Iranian operations reportedly damaged radar infrastructure linked to a THAAD system positioned in Jordan.
That damage matters considering radar networks provide the detection and tracking data needed by interceptor systems. Patriot and THAAD batteries depend on those sensors to identify threats and guide defensive responses.
Earlier strikes also hit radar, communications, and air-defense systems in Qatar, Bahrain, Kuwait, Saudi Arabia, and the United Arab Emirates. Together, those attacks weakened parts of the region’s early-warning network.
The pattern combined attacks on sensors with mixed salvos of drones and ballistic missiles. Such combinations can strain tracking systems, complicate priorities, and consume limited interceptor supplies.
Foreign Targeting Questions Deepen After Deadly Strike
Meanwhile, U.S. officials have examined whether Iran received targeting support from Russia or China. However, neither country has been publicly linked to the July 17 strike, and no comparable evidence has emerged regarding direct Chinese assistance.
Questions about possible Russian involvement have circulated since March. At that time, U.S. officials said Moscow had shared information about American aircraft and ship locations across the Middle East.
However, the assessment did not establish that Russia supplied coordinates for specific Iranian attacks. Officials instead viewed broader targeting support as one possible explanation for Iran’s improved battlefield awareness.
The attack followed the collapse of an interim ceasefire, after which both sides expanded their military operations. The United States then conducted seven consecutive nights of strikes against Iranian surveillance sites, logistics networks, weapons storage facilities, and maritime capabilities.
At the same time, Iran attacked Jordan and several Gulf states. Consequently, military bases, energy facilities, and civilian infrastructure faced increasing pressure as the wider campaign placed regional defenses under sustained operational strain.
CENTCOM says more than 50,000 U.S. personnel remain deployed across the Middle East. Therefore, the casualties carry both immediate human costs and broader strategic consequences for Washington.
Following the strike, U.S. forces may place greater emphasis on protecting radar networks, dispersing aircraft, preserving interceptor supplies, and detecting maneuvering missiles. The attack also demonstrated how advanced weapons can challenge layered regional defenses.
The post Iran Strike on Jordan Base Raises Alarm Over Advanced Missile Threats appeared first on Blockonomi.

Key Highlights
Galaxy Digital has locked in a 15-year naming rights agreement for Texas Tech University’s football venue, now called Galaxy Stadium
The partnership designates Galaxy as Texas Tech Athletics’ official partner for digital assets and data center operations
Galaxy runs the Helios data center facility in Dickens County, approximately 60 miles from campus, featuring 1.6 gigawatts of authorized capacity
Galaxy Stadium will debut on September 5, 2026, when Texas Tech faces Abilene Christian in its season opener
The Lone Star State continues to attract crypto companies, mining facilities, and blockchain-friendly regulations
In a significant move for collegiate sports branding, Galaxy Digital has secured a 15-year agreement with Texas Tech University to rebrand the school’s football facility as Galaxy Stadium, effective with the 2026 football season.
We’re excited to share Galaxy is now the official data center and digital assets partner of @TechAthletics under a 15-year agreement, renaming the home of Red Raider Football as Galaxy Stadium.
Texas Tech is central to our community footprint in West Texas. The university has… pic.twitter.com/UvL84ey8mo
— Galaxy (@galaxyhq) July 17, 2026
The partnership was revealed publicly on Friday, July 17, though neither party disclosed the financial parameters of the arrangement.
The inaugural contest at the rebranded venue is scheduled for September 5, when the Red Raiders kick off their season hosting Abilene Christian.
Partnership Details and Scope
The agreement extends beyond simple stadium branding. Galaxy will serve as the official partner for data center operations and digital assets across Texas Tech’s athletic department.
The collaboration aims to develop artificial intelligence initiatives, provide workforce development programs, and create opportunities for student-athletes related to name, image, and likeness monetization.
The official statement did not include specific investment amounts or implementation schedules for these planned initiatives.
Galaxy’s Regional Operations
Galaxy Digital maintains an established presence in West Texas. The company operates its Helios data center facility in Dickens County, located about 60 miles east of Lubbock.
The facility has received approval for 1.6 gigawatts of capacity dedicated to artificial intelligence and high-performance computing applications.
This stadium partnership strategically links Galaxy’s infrastructure operations with a prominent West Texas collegiate athletics program.
The state has emerged as a magnet for cryptocurrency and digital infrastructure enterprises. Companies including Riot Platforms, Cipher Mining, Core Scientific, CleanSpark, IREN, and Hut 8 maintain operations across Texas.
This past February, mining equipment manufacturer Canaan acquired a 49% ownership interest in three Texas-based mining facilities from Cipher Mining in a transaction valued at approximately $40 million.
More recently this month, MARA Holdings revealed intentions to purchase a two-gigawatt powered location in Texas for developing a campus dedicated to Bitcoin mining and high-performance computing operations.
Legislative Landscape and Political Investment
Texas has demonstrated strong policy support for the digital asset sector. Governor Greg Abbott enacted legislation in the previous year establishing the Texas Strategic Bitcoin Reserve.
State administrators began transitioning the reserve’s holdings from spot Bitcoin ETF investments to direct Bitcoin ownership in May.
Political action committees aligned with cryptocurrency interests have invested substantially in Texas electoral races. During May’s congressional primary runoff elections, industry-backed PACs deployed over $10 million supporting preferred candidates. All six candidates receiving support secured victories.
The Texas Tech stadium agreement represents another significant milestone in the state’s expanding cryptocurrency ecosystem, adding a high-profile college sports partnership to the mix.
While the 15-year duration ensures Galaxy maintains long-term visibility at Texas Tech, the complete financial value of the naming rights contract remains undisclosed.
The post Galaxy Digital Lands 15-Year Texas Tech Stadium Naming Rights Deal appeared first on Blockonomi.

Key Takeaways
The moderate scenario projects XRP between $5 and $8 by 2031, driven by growing institutional integration
In an optimistic scenario, XRP could climb to $15–$25 if it captures significant global settlement market share
A pessimistic outlook places XRP at $1–$2 should adoption stall or competitive pressures mount
Exchange-traded fund flows may constrain circulating supply while boosting retail and institutional accessibility
Across weighted probability scenarios, XRP’s 2031 target centers around $7.90
For years, XRP has maintained its position as one of the cryptocurrency sector’s most debated digital assets. Its specialized focus on facilitating international payments and serving institutional clients distinguishes it from broader platforms like Bitcoin and Ethereum.
XRP Price
Following an extended period dominated by regulatory challenges, XRP has transitioned into a more promising chapter. Enhanced legal clarity, the introduction of regulated spot ETF products, and Ripple’s aggressive global partnership strategy have reignited attention from the investment community.
The central question facing investors today is straightforward: what price level could XRP realistically achieve by 2031?
For several years, Ripple has systematically developed relationships with financial institutions and payment service providers worldwide. Meanwhile, the XRP Ledger continues broadening its use cases beyond payments—venturing into tokenization of tangible assets, DeFi applications, and supporting the RLUSD stablecoin infrastructure.
Under moderate assumptions, XRP is projected to trade between $5 and $8 by the end of the decade. Such valuations would correspond to a total market capitalization spanning approximately $325 billion to $520 billion.
Optimistic Projection
The bullish forecast operates under the premise that XRP establishes itself as a dominant infrastructure layer for institutional transaction settlement and international money transfers.
$XRP could continue following its Fibonacci levels on the chart.
A move to $11 isn't a fantasyit's just a matter of time. pic.twitter.com/WkhY3fXBFM
— Celal Kucuker (@CelalKucuker) July 16, 2026
The launch of XRP-based ETF products represents a critical growth driver in this scenario. These regulated investment vehicles have dramatically lowered barriers for traditional investors seeking exposure to the asset. Sustained inflows into these products could create supply constraints while simultaneously expanding demand channels.
Should the tokenized asset sector evolve into a multi-trillion-dollar market—and the XRP Ledger successfully captures a substantial portion of that activity—XRP’s total value could approach the $1 trillion threshold. Under these conditions, individual token prices would fall within the $15 to $25 range.
While this represents an aggressive projection, a growing number of long-term holders no longer consider it entirely implausible.
Pessimistic Projection
The primary vulnerability facing XRP centers on implementation challenges. Ripple’s payment infrastructure could achieve commercial success without necessarily translating into proportionate demand for the underlying XRP token.
Meanwhile, competitive pressure continues intensifying. Ethereum Layer 2 solutions, Solana’s payment rails, fiat-backed stablecoins, and emerging central bank digital currencies all represent viable alternatives for institutional payment settlement.
Under this less favorable scenario, XRP’s trading range could remain confined between $1 and $2 throughout the next half-decade.
XRP’s distinguishing characteristic remains its institutional orientation. Rather than positioning itself as a multipurpose blockchain platform, it’s strategically aligned as foundational infrastructure supporting the global financial system.
When factoring probability weights across bear, base, and bull scenarios, the blended price expectation for XRP by 2031 lands at approximately $7.90.
The post XRP Price Forecast 2031: Is $20 Within Reach? Breaking Down the Realistic Scenarios appeared first on Blockonomi.

Key Highlights
Major whale acquired 89,396 ETH valued at approximately $164.88 million across three days
Ethereum declined 3.6% in the last 24 hours, currently hovering around $1,823
US market sentiment stays bearish even with $68M in ETH ETF inflows recorded this week
Network active addresses dropped to December lows while transaction volume surged to record highs
Crypto analyst Michaël van de Poppe projects ETH could reach $2,200–$2,400 with $1,780 support intact
Ethereum currently trades around $1,823 following a 3.6% decline in the past day. The cryptocurrency pushed toward $1,944 three days earlier but faced resistance, retreating to $1,819 before staging a modest bounce.
Ethereum (ETH) Price
While prices declined, significant whale movements emerged. Blockchain monitoring service Lookonchain identified two freshly established wallets that pulled 20,000 ETH from Coinbase Prime across two separate 10,000 ETH transactions totaling $37.72 million. This same whale entity had previously acquired 30,000 ETH valued at $57.6 million on July 16, pushing its three-day accumulation to 89,396 ETH worth roughly $164.88 million.
Data from CryptoQuant’s Spot Average Order Size indicator revealed substantial whale-sized orders occurring for seven straight days. That said, the metric captures both buy and sell orders, confirming heightened whale activity without indicating directional bias.
According to CoinGlass analytics, Ethereum’s Spot Netflow stayed negative for the second consecutive day at -$23.6 million compared to -$49 million previously. This indicates ongoing but decelerating net outflows from exchanges.
Source: Coinglass
Mixed Network Fundamentals
US-based spot Ethereum ETFs are poised to finish the week with $68 million in combined net inflows spanning Monday through Thursday. Exchange reserves have simultaneously decreased by 253,000 ETH since July 5, indicating investors are transferring holdings to personal wallets.
ETF FLOWS: US SPOT CRYPTO ETFs FLOWS DATA UPDATE (17-07-2026) YESTERDAY
Bitcoin ETFs: +2,065 $BTC (+$132.30M)
Ethereum ETFs: +19,940 $ETH (+$36.73M)
HYPE ETFs: -90.87K $HYPE (-$5.45M)
$DOGE, $LINK, $BNB, $AVAX, $DOT, $HBAR , $LTC, $XRP, $SOL Flows Was Zero.
TOTAL US… https://t.co/OJCQThZG56 pic.twitter.com/cvNBFllZkp
— Crypto Patel (@CryptoPatel) July 18, 2026
Despite these positive signals, the Coinbase Premium Index—which measures US institutional demand—continues trading in negative territory. Ethereum network active addresses have contracted to a 14-day simple moving average of 397,000, marking the lowest reading since December, even while daily transactions climbed to an all-time high of 2.65 million.
The amount of staked ETH has climbed to an unprecedented 40.93 million ETH. Much of this increase, however, stems from a single participant: treasury management firm BitMine Immersion, which has staked 4.9 million ETH since December.
Technical Outlook and Key Levels
The Balance of Power indicator shifted dramatically from 0.93 to -0.61, signaling that sellers currently dominate near-term price momentum.
Looking at the daily timeframe, Ethereum maintains its position above the 20- and 50-day exponential moving averages positioned at $1,791 and $1,812 respectively. Immediate resistance appears at $1,909, followed by $1,942 and $2,018. Downside support levels include $1,806, with stronger zones at $1,741 and $1,524.
Prominent crypto trader Michaël van de Poppe (@CryptoMichNL) stated on X that Ethereum hitting $2,000 soon is “incredibly more likely,” pointing to an emerging uptrend and solid support maintaining at $1,780. He outlined subsequent price targets between $2,200 and $2,400, emphasizing that the market structure “shouldn’t be overcomplicated.”
It's incredibly more likely that we'll start to see $ETH at $2,000+ in the near future.
The asset is running a new upwards trend and flipping previous resistance levels for support.
I don't think things should be overcomplicated, and on the lower timeframe levels, it's clearly… pic.twitter.com/h7OAoppiec
— Michaël van de Poppe (@CryptoMichNL) July 18, 2026
Over the past 24 hours, ETH saw $91.4 million in total liquidations, with long positions accounting for $61 million of that figure.
The post Ethereum (ETH) Price Retreats 7% as Whale Accumulates $165M — Recovery Ahead? appeared first on Blockonomi.

Key Takeaways
Former Binance CEO Changpeng Zhao argued on X that Bitcoin offers inflation protection unlike artificial intelligence
The cryptocurrency’s capped supply of 21 million coins contrasts sharply with AI firms’ unlimited share dilution potential
Zhao previously projected Bitcoin could reach $1 million by 2033 based on historical growth patterns
BTC surged past $65,000 following softer-than-expected US producer price index data
Upcoming AI company IPOs like OpenAI and Anthropic could temporarily divert investment away from cryptocurrency markets
Former Binance CEO Changpeng Zhao ignited discussion across crypto circles this week with a succinct post on X that garnered 1.3 million impressions. His message was brief and pointed: “AI is great, but it does not protect you against inflation. Bitcoin does.” The statement stood alone without further elaboration or supporting thread.
AI is great, but it does not protect you against inflation.
Bitcoin does.
— CZ BNB (@cz_binance) July 16, 2026
The comment resonated widely because it established a distinct boundary between two dominant investment narratives defining the current market cycle. Market participants have increasingly found themselves choosing between Bitcoin and AI equities as both assets vie for speculative investment dollars.
The Significance of Bitcoin’s Supply Cap
Zhao’s position hinges on the concept of scarcity. Bitcoin operates with an immutable ceiling of 21 million coins. This quantity remains permanently fixed regardless of central bank policies or government monetary expansion programs.
Artificial intelligence corporations face no comparable constraint. These companies maintain the ability to dilute existing shareholders through new equity issuance, accumulate debt, and scale operations without limitation. While such expansion can benefit shareholders financially, it fails to provide equivalent safeguards against monetary devaluation.
Traditional fiat currencies depreciate approximately 6 to 7 percent each year according to various economic analyses. Government bonds have generated negative inflation-adjusted returns throughout much of the recent decade. AI-focused equities have delivered strong nominal gains, yet strong performance differs fundamentally from inflation hedging capability.
Current Bitcoin Valuation and Economic Context
Bitcoin currently trades around the $63,000 level, representing approximately a 50 percent decline from its record peak. Most market observers classify this as bear market conditions.
However, the cryptocurrency recently climbed above $65,000 after United States producer price data registered below market consensus. The weaker inflation print diminished speculation regarding additional Federal Reserve interest rate increases.
Ethereum similarly benefited from the macroeconomic development, pushing back above the $1,900 threshold in the same timeframe. These price movements demonstrated that Bitcoin remains highly responsive to monetary policy expectations and global liquidity dynamics.
Zhao maintains his bullish long-term perspective. Earlier this month, he presented a scenario projecting Bitcoin could reach $1 million by 2033 across two market cycles, utilizing historical growth multipliers ranging from three to five times per cycle. He noted the previous cycle generated weaker returns around 2x, attributing this partially to AI companies capturing capital that might otherwise have flowed into digital assets.
Potential Capital Competition from AI Public Offerings
Anticipated initial public offerings from OpenAI and Anthropic have generated renewed concerns about capital allocation strategies. Substantial IPOs typically force institutional investors to liquidate existing holdings in order to finance new equity positions.
Several former cryptocurrency mining operations have pivoted toward AI-focused infrastructure. TeraWulf currently pursues financing for an artificial intelligence data facility tied to a two-decade partnership with Anthropic, representing a strategic shift from its original mining operations.
Zhao has publicly expressed preference for AI infrastructure plays including data centers and computational hardware. Nevertheless, his conviction regarding Bitcoin remains unchanged. He views these asset classes as fulfilling distinct investment objectives.
Bitcoin represents the inflation protection vehicle. Artificial intelligence represents the growth opportunity. In Zhao’s framework, investors must recognize this fundamental distinction.
The post Bitcoin (BTC) Outperforms AI as Inflation Safeguard, Says Former Binance CEO CZ appeared first on Blockonomi.

Key Takeaways
BTC recovered to approximately $63,972 on Saturday following mid-week losses
Moonshot AI, a Beijing-based company, unveiled Kimi K3, surpassing leading models from OpenAI and Anthropic
Technology and cryptocurrency markets experienced turbulence as the AI breakthrough challenged assumptions about costly infrastructure requirements
Mining operations with AI and high-performance computing agreements may face reduced profitability from cost-efficient alternatives
Market watchers predict potential movement toward $74,000–$76,000, though downside risk to the low $50,000 range persists
Bitcoin staged a recovery approaching $64,000 on Saturday following several challenging days triggered by an unexpected Chinese artificial intelligence announcement and diminishing prospects for United States cryptocurrency regulatory reform.
Bitcoin (BTC) Price
Trading at $63,972 during early Saturday hours, BTC climbed from its weekly bottom of $62,505. The cryptocurrency had earlier approached $65,000 following the release of softer inflation figures from the United States.
Market sentiment shifted when Moonshot AI, headquartered in Beijing, introduced Kimi K3, an open-weight artificial intelligence system. The model achieved a score of 1,679 on a prominent frontend coding evaluation, surpassing Anthropic’s Claude Fable 5 at 1,631 and OpenAI’s GPT-5.6 at 1,618.
Big news: Kimi-K3 by @Kimi_Moonshot is now #1 in the Frontend Code Arena with 1679 pts, surpassing Claude Fable 5.
This is a 17-place jump from Kimi-k2.6 (#18 -> #1).
In Frontend, Kimi-K3 ranked #1 in 6 of 7 domains: Brand & Marketing, Reference-Based Design, Data & Analytics,… https://t.co/YDN3BufGkC pic.twitter.com/Oa6teaQnWp
— Arena.ai (@arena) July 16, 2026
Featuring 2.8 trillion parameters, the system employs a mixture-of-experts architecture that selectively activates portions of its framework for specific tasks. Complete model weights will become publicly available on July 27.
This development unsettled financial markets by suggesting that advanced AI capabilities need not remain scarce or prohibitively expensive. Bitcoin’s price movements have increasingly mirrored semiconductor equities due to strengthening connections with the AI investment landscape.
Mining Operations Face New Challenges
Publicly traded Bitcoin mining companies that have pivoted capacity toward artificial intelligence and high-performance computing applications face particular vulnerability. Should efficient systems like Kimi K3 diminish requirements for premium data center infrastructure, the financial viability of existing agreements could deteriorate.
Market analyst Daan Crypto Trades observed that BTC struggled to breach its local trading boundary, with the 4-hour 200 EMA temporarily holding before experiencing a bearish retest. He characterized recent trading patterns as “very choppy” and consistent with typical summer market dynamics.
Analyst Ted Pillows emphasized that Bitcoin must successfully reclaim the $65,000 threshold before substantial upward momentum can materialize.
$BTC is holding well for now.
For any strong momentum, Bitcoin needs to reclaim the $65,000 level. pic.twitter.com/o4u7yP50d3
— Ted (@TedPillows) July 18, 2026
Technical Outlook and Price Projections
Castillo Trading forecasts Bitcoin may advance toward the $74,492–$76,696 range before a post-midterm correction drives prices toward $51,000–$56,000. This target zone encompasses the 2025 yearly opening price and multiple volume-based resistance thresholds.
How are we feeling about something like this into Midterms 2026?
The last two midterms $BTC has endured, we have seen a small rally leading into a short lived drop directly after, followed by ATHs. Will this time we different?#Bitcoin pic.twitter.com/2lP2ha537h
— Castillo Trading (@CastilloTrading) July 17, 2026
Justin Bennett’s liquidity analysis suggests BTC could initially retreat toward $61,300, rebound to $67,300, then experience another downward movement. A decisive break above $67,300 with sustained holding would signal improved market conditions.
Bitcoin currently trades within a range bounded by $60,000 support and $70,000 resistance, with the median positioned near $70,000. Recapturing $65,683 represents the initial milestone toward reaching that upper boundary.
The post Bitcoin (BTC) Recovers After Chinese AI Breakthrough Disrupts Markets appeared first on Blockonomi.

Key Highlights
The FTX Recovery Trust plans to release approximately $900 million to creditors beginning July 31
This represents the fifth distribution since the platform’s collapse in late 2022
Cumulative distributions have approached $10 billion since the repayment process launched in 2025
Smaller claims under $50,000 are receiving 120% repayment; larger claims receive 103–105%
Former CEO Sam Bankman-Fried serves a 25-year sentence; bipartisan Senate resolution opposes pardon
The FTX Recovery Trust revealed on Friday plans to commence distribution of approximately $900 million to affected creditors starting July 31. This represents the fifth major repayment installment since the cryptocurrency platform’s dramatic collapse in November 2022.
LATEST: FTX plans to distribute roughly $900M to creditors in its fifth payout round, with eligible recipients set to receive funds within three business days starting July 31. pic.twitter.com/7iSI7R4kRa
— CoinMarketCap (@CoinMarketCap) July 18, 2026
Qualifying creditors will have access to their funds via BitGo, Kraken, or Payoneer platforms. The Recovery Trust anticipates payments will reach recipients within a one to three business day window following the July 31 start date.
Breakdown of Payment Allocations
The FTX distribution structure divides creditors into two distinct categories: convenience class and non-convenience class. Those with convenience class claims — defined as claims valued below $50,000 — are entitled to receive 120% of their original claim value.
Non-convenience class claims, which encompass larger or more intricate cases, will see recovery rates ranging from 103% to 105% of their filed claim amounts. The bankruptcy proceedings have typically compensated retail investors between 118% and 142% beyond their asset valuations recorded during the collapse.
An important caveat: these percentages are calculated based on the U.S. dollar valuation of assets when FTX filed for bankruptcy, rather than current cryptocurrency market prices — a methodology that has generated pushback from certain creditors who preferred in-kind asset restitution.
Total Distribution Amounts to Date
In March 2026, FTX released $2.2 billion to its creditor base. Following this upcoming distribution, aggregate repayments will reach nearly $10 billion since systematic disbursements commenced in 2025.
The FTX bankruptcy estate initiated Chapter 11 proceedings in November 2022, stranding customers without access to their holdings amid a widespread cryptocurrency market crisis that claimed multiple trading platforms.
In May 2026, legal firm Fenwick & West reached a $54 million settlement agreement in a class action case. The firm had acted as FTX’s primary external legal advisor prior to the platform’s downfall. A coalition of 20 platform users had filed suit seeking $525 million mere days before the settlement was finalized.
Current Status of Sam Bankman-Fried
Former FTX chief executive Sam Bankman-Fried received a 25-year prison term in 2024 following his conviction for the misappropriation of customer assets. His appellate challenge was rejected last month when federal courts affirmed the initial verdict.
Bankman-Fried submitted a request for presidential clemency to Donald Trump. Trump indicated in January that he had no intention of granting such relief.
Earlier this week, the United States Senate approved by unanimous consent a resolution expressing opposition to any clemency consideration for Bankman-Fried. While this resolution carries no binding legal authority to prevent a presidential pardon, it demonstrates unified bipartisan resistance to the concept.
Congressional members have additionally voiced apprehension regarding Trump’s pardon of former Binance chief executive Changpeng Zhao, particularly following a $2 billion capital injection into Binance from a United Arab Emirates entity utilizing a stablecoin developed by the Trump family’s venture, World Liberty Financial.
FTX creditors should anticipate receiving payment verification from their selected distribution platform following the July 31 commencement date.
The post FTX Prepares $900 Million Distribution to Creditors in Fifth Repayment Round appeared first on Blockonomi.

Key Takeaways
French National Gambling Authority directed ISPs to restrict Polymarket access effective July 16, 2026
Violations include unauthorized gambling operations, addiction-inducing mechanics, and insufficient consumer safeguards
Alleged manipulation of weather-based wagers prompted criminal inquiry by Paris cybercrime authorities
Platform currently faces access restrictions across 36 global jurisdictions, including Spain, Singapore, and Brazil
Kentucky leads coalition of 18 US states pursuing legal action against prediction market operators, including Polymarket
French authorities have mandated that internet service providers restrict access to Polymarket, a widely-used prediction market platform, over violations related to unauthorized gambling activities and potential outcome tampering.
France Blocks Access to Polymarket Website
According to Reuters, France’s gambling regulator ANJ has ordered internet service providers to block access to prediction market platform Polymarket, alleging that it offers illegal gambling services. The regulator said the platform… pic.twitter.com/5r6vEJslDP
— Wu Blockchain (@WuBlockchain) July 18, 2026
French Gaming Authority Takes Enforcement Action
On July 16, 2026, the Autorité nationale des jeux (ANJ) enacted the blocking directive. According to the regulatory body, Polymarket conducts operations in France without proper licensing, and promoting unauthorized gambling platforms constitutes a criminal violation punishable by fines reaching 100,000 euros ($114,000).
The ANJ highlighted that the platform incorporates “addictive features” characteristic of regulated gaming while circumventing mandatory consumer protection standards required of licensed providers.
French regulators telegraphed their enforcement intentions as early as November 2024, when initial blocking plans were announced due to the platform’s failure to meet domestic gambling regulations.
Alleged Market Rigging Triggers Criminal Probe
The regulatory authority cited particular alarm over potential market manipulation. Officials indicated that certain weather-related wagers showed signs of tampering, with indications that meteorological sensors may have been compromised.
In May 2026, the cybercrime division of the Paris Public Prosecutor’s Office initiated a formal investigation into these allegations.
Authorities additionally discovered that Polymarket operated without adequate identity verification protocols, including required Know Your Customer procedures.
Polymarket’s Expanding Reach Meets Regulatory Resistance
The platform enables users to trade contracts based on future event outcomes, spanning elections, sporting events, and economic indicators. Polymarket has experienced rapid expansion, with Reuters sources indicating annual revenue exceeding $1 billion.
However, this explosive growth has attracted heightened regulatory scrutiny. Access to the platform is currently restricted in 36 territories, encompassing Singapore, Poland, Portugal, Hungary, Ukraine, Brazil, and Indonesia.
Spanish authorities imposed a temporary prohibition on Polymarket and competitor Kalshi in May 2026. The following month, the leading US derivatives oversight agency published preliminary regulatory frameworks for the prediction market sector.
In June 2026, Kentucky initiated legal proceedings against Polymarket, Kalshi, and three additional platforms, alleging operation of unlicensed sports wagering services. A minimum of 17 additional states have filed comparable lawsuits.
The US Commodity Futures Trading Commission has contested these state actions, filing counter-suits asserting its exclusive federal jurisdiction over event contract regulation.
Platform’s Official Statement
Polymarket has not issued an immediate response to inquiries regarding the French access restriction. The ANJ indicated the blockade will continue indefinitely until the platform achieves compliance with French gambling legislation.
The post France Bans Polymarket Amid Gambling Violations and Manipulation Allegations appeared first on Blockonomi.

TLDR:
Bank of America digital assets leadership now includes Sonali Theisen, who will oversee platform development while retaining her FICC trading duties.
Kevin Milsom will direct AI transformation across global markets and platforms, supporting automation, analytics, and generative AI implementation.
The bank’s broader blockchain program covers tokenized deposits, stablecoins, digital collateral mobility, cryptocurrency settlement, and custody.
Similar hiring moves at Vanguard and Morgan Stanley show traditional financial firms are placing digital assets inside established business divisions.
Bank of America appointed Sonali Theisen and Kevin Milsom to lead technology programs across its global markets division. The move expands the Bank of America digital assets strategy while placing artificial intelligence closer to daily trading infrastructure.
Theisen will lead the global digital assets platform while retaining her FICC electronic trading and strategic investment duties. Milsom will direct platform AI transformation under Ashok Krishnan, who oversees technology modernization and automation.
The appointments move blockchain and AI projects into established business units rather than isolated innovation teams. According to Reuters, the leadership changes through an internal company memorandum.
Bank of America Digital Assets Platform Gets New Leadership
Theisen will oversee the design, development, expansion, and governance of the bank’s global digital assets platform. Her work will focus on integrating blockchain-based products with systems already serving institutional markets.
The Bank of America digital assets platform will operate alongside the bank’s wider transformation program. Theisen will coordinate with Adam Dixon, who became global head of digital asset transformation in June.
Dixon’s responsibilities include tokenized deposits, stablecoins, digital collateral mobility, crypto settlement, and custody infrastructure.
The structure connects digital asset development with electronic trading, market design, and institutional client needs. That approach may reduce gaps between blockchain tools and established settlement systems.
It also gives the bank clearer governance as tokenized financial products move toward commercial use. Theisen’s continuing trading role places platform development near teams already serving large financial clients.
Bank of America has not announced support for any specific cryptocurrency or public blockchain through these appointments. The current focus remains infrastructure, governance, and regulated market applications.
The Bank of America digital assets expansion therefore represents a platform strategy rather than a retail trading launch. Tokenized deposits could help regulated bank money move across shared digital ledgers.
Stablecoins may support faster transfers, while digital collateral systems can improve asset movement between counterparties. Custody and settlement services could help institutions manage blockchain-based securities within existing compliance structures.
AI Leadership Connects Data With Global Markets Platforms
Milsom will lead AI implementation across platforms supporting Bank of America’s global markets business. His mandate includes embedding AI tools into operations, analytics, and employee workflows.
Krishnan already oversees automation and the rollout of generative AI across those systems. Bank of America previously said it planned to invest billions in AI and related technologies.
The bank expects those investments to improve productivity and create additional revenue opportunities. Milsom’s appointment gives that program a dedicated leader inside the platform’s organization.
Amy Avery and the Analytics, Modelling, and Insights team will also join the global platforms group. The reorganization places data analysis closer to systems used by traders and clients.
It could shorten the path between research, model development, and deployment. The Bank of America digital assets and AI appointments also reflect a wider institutional shift.
Vanguard recently advertised its first head of digital assets role for personal wealth. The position will develop strategy, infrastructure priorities, and engagement with regulators.
Morgan Stanley has expanded its digital asset business under Amy Oldenburg. The firm filed registration statements for Bitcoin and Solana products in January.
It later launched a Bitcoin trust and linked digital assets more closely with traditional markets.
Outside banking, xAI sought crypto specialists to improve model knowledge of derivatives, decentralized finance, and on-chain activity.
The post Bank of America Digital Assets Platform Gains New Leadership appeared first on Blockonomi.

TLDR:
BitGo Bank & Trust now offers qualified custody for USDM1, the first onchain sovereign bond
USDM1 is backed 1:1 by US Treasuries and issued natively onchain by the Marshall Islands
Go Network enables off-exchange settlement with T+0 timing across Stellar, Ethereum, and Solana
Marshall Islands uses USDM1 to fund a 20-year Universal Basic Income program nationwide
BitGo Bank & Trust will provide institutional-grade qualified custody and off-exchange settlement for USDM1, the first natively issued onchain sovereign bond. The Marshall Islands issued this dollar-denominated instrument, which is backed 1:1 by US Treasuries.
Institutional clients can hold USDM1 in regulated cold storage and use it for collateral and settlement through BitGo’s Go Network. The service spans Stellar, Ethereum and Solana networks.
Custody Framework And Settlement Access
BitGo Bank & Trust operates as an OCC-regulated digital asset trust bank under BitGo Holdings, Inc. The bank now supports USDM1 within its qualified custody platform for institutional clients.
Segregated accounts, offline key management and institutional controls form the foundation of this custody structure. These features apply across all three supported blockchain networks.
BitGo announced the news in a post on X, describing USDM1 as the first natively issued onchain secured sovereign bond.
Today we're announcing institutional-grade qualified custody and off-exchange settlement for USDM1, the world's first natively issued onchain secured sovereign bond.
Institutional clients can hold this dollar-denominated sovereign bond in regulated custody on BitGo and use it…
— BitGo (@BitGo) July 17, 2026
The company stated that institutional clients can hold this dollar-denominated sovereign bond in regulated custody on BitGo and use it for collateral and settlement through BitGo’s Go Network. The post confirmed availability across the three supported networks.
Through the Go Network Off-Exchange Settlement solution, eligible clients can deploy USDM1 to connected trading venues.
This access operates continuously, with settlement completed on the same day trades occur. Assets do not need to move onto an exchange for this process to function.
This structure aims to reduce exposure during the trading day and lower settlement risk for institutions. It also targets a reduction in pre-funding requirements across trading and financing operations.
BitGo positions this setup as a way to improve capital efficiency for institutional clients working with digital assets.
Sovereign Bond Structure And Broader Application
USDM1 was issued by the Republic of the Marshall Islands as a secured sovereign bond. The instrument follows a structure similar to a fully collateralized Brady bond under New York law. It is designed to accrue value daily, with minting and redemption tied to live signed price quotes.
Mike Belshe, CEO and co-founder of BitGo, addressed the announcement directly. He said USDM1 is “a different kind of asset – sovereign collateral with Treasury backing, built to fit how institutions already operate.” He added that custody access allows institutions to use the asset within infrastructure they already rely on.
Hon. David Paul, the Marshall Islands’ Minister of Finance, Banking and Postal Services, also commented on the partnership.
He noted that the government “truly appreciates BitGo’s partnership and is proud to see this infrastructure put to work built on trusted legal frameworks.”
He described USDM1 as anchored in the full faith and credit of the Marshall Islands government, secured by underlying US Treasury collateral.
Beyond institutional finance, the Marshall Islands has deployed USDM1 in a nationwide Universal Basic Income program.
The program distributes funds quarterly across more than 1,200 islands over a 20-year period. Financial institutions have also begun using USDM1 as a treasury instrument in daily operations.
The post BitGo To Offer Institutional Custody for USDM1 Sovereign Bond appeared first on Blockonomi.

Established digital platform AlienWP extends its coverage into the iGaming sector, launching dedicated casino news, regulatory updates, and review content while simultaneously building Alien Wise Play player resource
AlienWP, which launched as a digital resources platform in 2013, has revealed plans to enter the online casino and iGaming news space. The site will begin publishing consistent coverage of industry developments, casino evaluations, regulatory frameworks, promotional offers, and player safety initiatives, complementing its original digital content focus.
Main Announcement
This strategic shift positions AlienWP as a contributor within the iGaming media landscape, delivering readers timely updates on casino operations, legal frameworks, regulatory authorities, and promotional structures. According to the company, the objective is to deliver clear, fact-based information to players without resorting to sensationalism or marketing-driven narratives.
The company characterizes this move as a logical extension of its existing mission as a digital information hub, responding to growing demand from its audience for unbiased, accurate casino sector coverage.
Supporting Details
In parallel with its editorial content, AlienWP is building Alien Wise Play, an online tool created to enable players to evaluate casino operators, bookmark preferred platforms, monitor promotional offers, and access regulatory details. The service does not function as a gambling operator, handle financial transactions, or provide wagering recommendations.
Alien Wise Play generates revenue through affiliate arrangements, though AlienWP positions it as a player-focused resource rather than a conventional affiliate site. The organization emphasizes that openness, player safety, and gambling responsibility form the foundation of the platform’s design philosophy.
A key component of Alien Wise Play is the Wise Play Score, a proprietary assessment framework that judges casino sites on regulatory compliance, trustworthiness, payment integrity, operational transparency, customer service quality, and player safeguards. AlienWP has indicated that upcoming iterations will incorporate aggregated user input and AI-powered evaluation tools, while maintaining editorial autonomy.
Additional details about the platform can be found at Alien Wise Play.
Spokesperson Quote
Oliver Dale, representing AlienWP, commented: “This move enables us to provide players with credible, unbiased casino industry coverage and evaluations in a centralized location. Simultaneously, we’re developing Alien Wise Play as a tool for players to assess casino operators and navigate licensing requirements more effectively, with player protection integrated into the foundation of the platform.”
Future Plans
AlienWP intends to expand its iGaming and casino news reporting throughout the upcoming months, as development work advances on both Alien Wise Play and the Wise Play Score system. This encompasses planned enhancements for user feedback integration and AI-driven analytical capabilities, with editorial independence maintained as a core principle.
About AlienWP
Established in 2013, AlienWP operates as an iGaming news and casino information resource delivering coverage of online casino developments, operator reviews, regulatory frameworks, promotional offers, responsible gaming practices, and sector trends. The organization is concurrently developing Alien Wise Play, a player-oriented comparison dashboard enabling users to evaluate casino sites, monitor bonuses, and navigate licensing and security information. Additional information can be accessed at alienwp.com.
Media Contact
Oliver Dale
AlienWP
Website: https://alienwp.com
The post AlienWP Ventures Into iGaming Coverage With New Casino News Platform appeared first on Blockonomi.

TLDR:
The FTX repayment will distribute approximately $900 million on July 31 to eligible creditors meeting all verification requirements.
Dotcom and United States customer claims will reach cumulative recoveries of 105% under the fifth bankruptcy distribution.
General unsecured and digital asset loan claims will reach 103%, while Convenience Claims will receive cumulative recoveries of 120%.
Preferred equity holders will separately receive $18 million, raising total payments from their remission trust to $95 million.
FTX will begin its fifth creditor distribution on July 31, paying approximately $900 million under its confirmed restructuring plan. The FTX repayment covers eligible Convenience and Non-Convenience claim holders who met the June 16 record date requirements.
Recipients should receive their money through BitGo, Kraken or Payoneer within one to three business days. FTX confirmed that claimants must complete identity checks, tax documentation, and provider onboarding before receiving payments.
The latest bankruptcy distribution continues a repayment process that began after FTX’s Chapter 11 reorganization became effective. Several claim classes will now receive cumulative distributions exceeding their allowed bankruptcy values.
FTX announced it will begin its Fifth Distribution of ~$900 million on 7/31/26 to holders of allowed claims in the Plan’s Convenience and Non-Convenience Classes that have completed the pre-distribution requirements.
— FTX (@FTX_Official) July 17, 2026
However, those values remain based on cryptocurrency prices around FTX’s November 2022 collapse. Creditors therefore receive additional cash above approved claims, but not the full gains produced by the later cryptocurrency recovery.
FTX Repayment Raises Recoveries Across Creditor Classes
Allowed Dotcom Customer Entitlement Claims will receive an additional distribution equal to 9% of approved claim values. This payment raises their cumulative recovery to 105%.
United States Customer Entitlement Claims will receive another 5%, also increasing their total recovery to 105%. General Unsecured Claims and Digital Asset Loan Claims will each receive an additional 3%.
Those two groups will reach cumulative distributions of 103% following the FTX repayment. Convenience Claims will receive cumulative recoveries of 120%, according to the official payment schedule.
Actual percentages may vary slightly because of rounding and individual claim calculations. FTX plans to file detailed distribution figures with the bankruptcy court after the July 31 payment date.
Eligible FTX creditors previously selected a distribution provider through the customer claims portal. Their choices include BitGo, Kraken and Payoneer, depending on their location and account eligibility.
Selecting a provider directs FTX to send the cash payment directly to that company. Creditors must then contact their selected provider regarding account access or the availability of transferred funds.
Future payments will only cover claims recorded as allowed before the relevant record date. Transferred claims must also appear on the official register after the required objection period expires.
FTX Repayment Includes Preferred Shareholder Payment
FTX will make a separate $18 million payment to eligible preferred equity holders on July 31. That payment will come from the Preferred Shareholder Remission Fund Trust.
The second preferred payment will raise total distributions from the trust to $95 million. Eligible holders must have qualified by the June 16 preferred record date.
Institutions receiving preferred payments must onboard with BitGo. Individual preferred shareholders must use Payoneer and complete the required consent documents.
Additional requirements include ownership certification, identity verification, and completed tax forms. FTX began contacting possible preferred equity holders in January 2026.
The FTX repayment announcement follows a fourth distribution of approximately $2.2 billion completed during March. The estate has continued releasing funds as claims become allowed and reserves are adjusted
FTX previously proposed reducing its disputed claims reserve by about $600 million, from $2.4 billion to $1.8 billion. The planned reduction could release additional cash for approved claims under the bankruptcy distribution process.
The estate also repeated its warning about fraudulent emails and imitation claims websites. FTX said it will never request customers to connect cryptocurrency wallets when processing payments.
The post FTX Repayment Sets $900 Million Creditor Payout for July 31 appeared first on Blockonomi.

TLDR:
The CLARITY Act revised text is now expected next week after a White House meeting failed to resolve the disputed ethics provisions.
Polymarket approval odds briefly fell to a record 31% before recovering to 35%, compared with a 73% probability during May.
Senate Democrats want stronger conflict-of-interest rules before providing the bipartisan votes needed to move the legislation forward.
The New York House hearing supports the case for crypto regulation but does not advance the bill or alter its Senate voting timetable.
The CLARITY Act has suffered a fresh setback after lawmakers failed to release revised Senate text following a White House meeting. Industry sources now expect the document next week, extending uncertainty around the crypto market structure bill. Polymarket briefly priced the legislation’s 2026 approval odds near 31% before they recovered to 35% on Friday.
The sharp fall from 73% in May reflects doubt that negotiators can settle the ethics dispute and secure enough Democratic votes. A House field hearing in New York may support the policy case, but it does not change the Senate timetable or advance the bill directly.
CLARITY Act Text Delay Deepens the Senate Ethics Standoff
President Donald Trump met Republican senators on Thursday to discuss the ethics provisions holding up the legislation. The meeting did not produce the promised updated draft. Journalist Eleanor Terrett reported that industry leaders now expect the text to slip into next week.
The @FinancialCmte will hold a field hearing at 10 AM ET in New York examining how the Clarity Act could unlock innovation. The hearing is informational and does not affect the Senate’s consideration of the bill.
Meanwhile, updated legislative text remains elusive following… pic.twitter.com/crMgbG1TVd
— Eleanor Terrett (@EleanorTerrett) July 17, 2026
The delay matters as Senate leaders have little time to build a bipartisan coalition before the August recess. The measure needs 60 votes to advance. That requirement leaves the bill dependent on Democratic senators seeking stronger conflict-of-interest rules.
Senator Ruben Gallego has described the Republican ethics language as too weak. Democrats want tighter restrictions covering the president, vice president, senior officials and members of Congress with crypto interests. Trump’s 2025 financial disclosure, which reported more than $1 billion in crypto-related gains, has intensified the dispute.
Senator Cory Booker has kept negotiations open but says the legislation requires a bipartisan pathway. Releasing text without Democratic support could harden opposition before negotiators settle the most contested language.
The legislation previously carried bipartisan momentum. The Senate Banking Committee advanced H.R. 3633 by a 15-9 vote on May 14. It was reported to the Senate on June 1 and placed on the legislative calendar as Calendar No. 423. No floor vote has been scheduled.
Approval Odds Fall as the Hearing Offers No Senate Fix
The House Financial Services Committee held its New York field hearing at 10 a.m. ET on Friday. The session examined how the CLARITY Act could support digital asset innovation and establish clearer federal oversight.
Witnesses included representatives from Nova Labs, Bullish, WisdomTree and Coin Center. Their testimony covered digital commodity rules, market infrastructure, consumer safeguards and protections for software developers. However, the hearing carried no authority over the Senate process.
Prediction markets reacted to the weaker timeline. Polymarket’s contract for the CLARITY Act becoming law in 2026 traded near 31% during Friday’s session. It later showed 35%, compared with 73% on May 11 and about 47% in early June.
The market requires H.R. 3633 to pass both chambers and receive the president’s signature by December 31, 2026. A Senate vote alone would not settle the contract. Lawmakers would still need to resolve differences between the Senate amendment and the House-approved version.
The CLARITY Act would create a federal framework for digital commodities and define oversight roles for the Securities and Exchange Commission and Commodity Futures Trading Commission. Its rules could affect token issuers, exchanges, brokers, custodians, and non-custodial developers.
The delayed draft leaves compliance teams without final language on registration, disclosures, custody, developer liability, and ethics restrictions. Those details will determine whether Democrats rejoin the coalition that moved the legislation through committee in May.
The post CLARITY Act Approval Odds Hit Low as Senate Text Faces Delay appeared first on Blockonomi.

Key Takeaways
TSMC delivered exceptional AI-powered results, yet shares declined as sky-high investor expectations went unmet
Semiconductor selloff extended across Nvidia, AMD, Broadcom, ASML, Micron and Arm Holdings
Netflix shares fell following disappointing forward guidance for the upcoming quarter
SpaceX stock continued its decline below IPO levels amid launch postponements and lock-up period concerns
Crude oil surged past $81 per barrel, reigniting inflation fears across financial markets
TSMC’s Exceptional Performance Falls Flat With Investors
Taiwan Semiconductor Manufacturing unveiled blockbuster quarterly earnings and revenue figures, propelled by surging demand for artificial intelligence processors from major clients like Nvidia, Apple, AMD and Broadcom. Management also announced an increase in capital expenditure projections through 2027.
Yet the positive financial data couldn’t lift the stock. Market participants have elevated expectations for AI-related companies to such heights that even outstanding quarterly reports fail to satisfy investor appetite for growth.
Semiconductor Sector Faces Broad Weakness
The downturn in Taiwan Semiconductor Manufacturing rapidly cascaded throughout the wider semiconductor industry. Leading chipmakers including Nvidia, AMD, Broadcom, ASML, Micron and Arm Holdings all experienced declines during the trading session.
Market experts emphasize that the selloff doesn’t signal deteriorating AI demand fundamentals. Instead, many believe investors are securing gains following substantial valuation increases, while questioning whether present prices have already priced in anticipated future expansion.
Major cloud service providers and technology corporations continue allocating billions toward data center infrastructure and computing equipment. The critical question facing market participants is whether this correction represents a temporary consolidation or signals the beginning of an extended downturn.
Netflix Tumbles on Disappointing Forward Outlook
Netflix delivered quarterly figures that aligned with analyst projections but lacked the wow factor investors sought. The primary concern centered on forward-looking projections. Company executives indicated a more conservative outlook for the next quarter and announced plans to reduce transparency around certain user activity metrics.
Subscription additions remained robust and the advertising-supported membership tier showed continued momentum. Expenditures in live sporting events and entertainment programming are also increasing. However, these positives couldn’t counterbalance management’s cautious forward-looking commentary.
The decline in Netflix valuation served as another illustration that forward guidance carries equal weight to actual results during the current earnings reporting period.
SpaceX Shares Continue Post-IPO Descent
SpaceX equity continued its downward trajectory beneath the company’s initial public offering valuation. Postponed Starship launch schedules, impending insider share lock-up expirations and widespread weakness in growth-oriented equities have all contributed to negative sentiment.
Industry analysts maintain their view of SpaceX as among the most valuable aerospace enterprises globally, supported by its satellite operations and government service agreements. However, market participants appear to be adopting a wait-and-see approach, demanding concrete financial performance before reestablishing positions.
Crude Oil Breaks Through $81 as Markets React
Crude oil prices climbed beyond $81 per barrel following escalating geopolitical tensions across the Middle East that heightened supply disruption fears. Elevated energy expenses create headwinds for consumer spending and complicate central bank efforts to maintain price stability.
This price movement follows closely behind encouraging US inflation statistics that had previously boosted market optimism. Should oil prices maintain their upward trajectory, market participants may need to recalibrate Federal Reserve interest rate reduction expectations for the latter portion of the year.
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Key Takeaways
SPCX shares declined approximately 4.8% Friday, dropping beneath $125 — now trading below its initial public offering price
The 13th Starship test flight was canceled after two Raptor engines experienced ignition failures
Elon Musk announced engine replacements are planned, with a rescheduled launch expected in the coming days
Market capitalization has declined by more than $1 trillion from its June high of $2.64 trillion
Industry experts emphasize the importance of a successful Flight 13 before SpaceX’s inaugural earnings report in August
Shares of SpaceX tumbled nearly 4.8% during Friday’s trading session, reaching a new post-listing low beneath the $125 threshold. The stock now trades approximately $10 under its debut price from the previous month, officially marking it as a broken initial public offering.
The decline came after the company postponed Starship’s thirteenth test mission, which was called off moments before scheduled liftoff from its Texas facility on Thursday evening.
A pair of Raptor engines mounted on the Super Heavy booster experienced ignition failures, activating an automated safety abort sequence. CEO Elon Musk addressed the situation via social media, indicating that replacement engines would be installed.
“To be confident of a good flight, 2 Raptors will be removed and replaced,” Musk shared online. “Most probable launch timing is early next week.”
This canceled launch represents SpaceX’s first significant challenge since completing its June public offering. The aerospace manufacturer’s valuation has plummeted from its June 16 zenith of $2.64 trillion to approximately $1.65 trillion at Friday’s market opening — representing nearly $1 trillion in erased value.
Notably, the twelfth Starship test mission conducted in May similarly encountered propulsion complications and prompted a Federal Aviation Administration review. Propulsion system dependability continues to emerge as a recurring challenge.
The Strategic Importance of Starship
Starship represents a cornerstone of multiple critical objectives for SpaceX’s future operations. The vehicle stands as the only rocket presently designed to transport Musk’s advanced V2 Mobile and V3 Starlink satellites into orbital deployment.
Additionally, NASA has designated Starship as the lunar landing system for transporting astronauts back to the moon’s surface through the Artemis program’s Human Landing System initiative.
Market Analyst Perspectives
Myles Walton from Wolfe Research indicated that a successful thirteenth flight would strengthen investor sentiment before SpaceX conducts its maiden earnings presentation, anticipated in early August.
Walton also highlighted upcoming liquidity concerns. Approximately 1.2 billion additional shares are projected to become tradeable in August.
“Getting a clean Flight 13 will be important to have into that potential supply influx, particularly given the persistent stock fade in recent weeks,” Walton stated.
The equity has experienced consistent pressure since reaching its post-IPO peak, sliding beneath its offering price earlier in the week before Friday’s session amplified those declines.
Despite the negative price action, certain market observers suggest the selloff may be excessive. A brief postponement to swap out engines represents standard procedure in aerospace development — and potentially demonstrates prudent safety protocols rather than launching with malfunctioning components.
Shares were changing hands around $124.80 during midday Friday trading, within a 52-week trading range spanning $122.14 to $225.64.
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Key Takeaways
Tesla’s Q2 2026 earnings announcement scheduled for Wednesday, July 22, following market closure
Options market indicates potential volatility of approximately 7% post-earnings
Wall Street consensus projects Q2 revenue at ~$26.54B (18% year-over-year growth) with EPS of $0.55
Morgan Stanley increased price target to $417, emphasizing long-term AI initiatives over quarterly metrics
TSLA shares have declined over 13% year-to-date, maintaining a consensus Hold with average price target near $405–$408
As Tesla approaches Wednesday’s quarterly earnings announcement, the electric vehicle manufacturer faces heightened uncertainty — and market volatility indicators reflect it.
Options traders are forecasting potential price movement of approximately 7% in either direction by week’s end following the Q2 disclosure. This positions the stock in a potential range from roughly $365 on the lower end to $416 on the upper end based on Thursday’s closing price. Year-to-date, TSLA shares have shed more than 13%.
With shares hovering around the $380 mark, these projected movements represent significant value shifts that market participants are monitoring intently.
Analyst consensus calls for Q2 revenue approaching $26.54 billion, representing an 18% increase compared to the prior-year period. Adjusted earnings per share are anticipated at $0.55, reflecting a 15-cent improvement over last year’s corresponding quarter. Alternative projections from TipRanks suggest EPS of $0.52 on revenue of $25.99 billion.
Earlier in July, Tesla exceeded delivery projections, signaling momentum improvement during the initial half of 2026 following two consecutive years of sales declines. This performance provides encouraging context ahead of the earnings release.
However, the quarterly figures themselves aren’t generating the primary discussion.
The Real Focus for Investors
Morgan Stanley upgraded its Tesla price objective to $417 from $415 recently. Their analysts characterized Q2 performance as potentially strong, yet emphasized that the “key investor debate remains unchanged: can Robotaxi and Optimus progress quickly enough to justify an accelerating AI investment cycle?”
Put simply, the quarterly performance may be secondary. Developments regarding Tesla’s self-driving vehicle initiatives and its Optimus humanoid robot platform are anticipated to influence market response more significantly than traditional financial metrics.
Tesla has been strategically rebranding itself as an artificial intelligence and robotics enterprise rather than exclusively an electric vehicle manufacturer. Any substantive advancement — or absence thereof — on these strategic fronts will probably establish market sentiment trajectory through the remainder of 2026.
Ownership Structure
Regarding ownership composition, Elon Musk maintains the dominant individual position at 29.91%. Vanguard represents the next significant holder with 5.97%. Public corporations and retail investors together control 33.42% of TSLA, establishing retail sentiment as a meaningful element in stock movement surrounding major announcements.
Exchange-traded fund holdings are substantial as well — the Vanguard Total Stock Market ETF maintains 2.38% exposure while the Vanguard S&P 500 ETF holds 1.95%.
Wall Street opinion remains divided. TipRanks data reveals 10 Buy ratings, 16 Hold ratings, and 3 Sell ratings issued over the past three months. The mean price target stands at $405.42, suggesting approximately 6.75% appreciation potential from present levels.
Visible Alpha monitors 11 analysts — six neutral, four buy recommendations, one sell — with price targets spanning from $130 to $600.
That substantial $470 spread between the floor and ceiling price targets underscores just how polarizing this equity remains among professional analysts.
Tesla is scheduled to publish its Q2 2026 financial results on Wednesday, July 22, following the market close.
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