A permanent US crypto regulatory framework could enhance market stability, attract institutional investment, and foster innovation.

The post Marc Andreessen calls for permanent US crypto regulatory framework appeared first on Crypto Briefing.

The growing crypto divide in football could reshape fan engagement, club revenue models, and influence the sport's digital future.

The post Liverpool vs Leeds friendly highlights the growing divide in football’s crypto adoption appeared first on Crypto Briefing.

Olson's power surge enhances Braves' division title prospects, prompting strategic trade deadline moves to solidify their competitive edge.

The post Olson’s HR surge boosts Braves’ NL East lead as trade deadline nears appeared first on Crypto Briefing.

The Iran-Oman talks could foster regional stability and influence global diplomatic dynamics, potentially easing geopolitical tensions.

The post Iran-Oman talks near completion, aim to manage Strait of Hormuz tensions appeared first on Crypto Briefing.

The cancellation signals potential de-escalation, yet Iran's alertness and market volatility suggest enduring regional instability.

The post Trump cancels Iran strikes amid ongoing military tensions appeared first on Crypto Briefing.

Bitcoin Magazine

Coldcard Bitcoin Thief Likely Used Top Blockchain Services Provider: Report

Since over $70 million in Bitcoin was stolen yesterday by an attack that exploited a fault in the Coldcard’s system, it has been reported that the thief used a top blockchain services provider for help. 

Writing on X Friday, engineer at payments company Block, Clay Garrett, said that the provider — who he did not name at the request of the services provider — had been contacted after finding blockchain movements matched the “suspected workflow” of the attacker. 

“During our investigation of the Coldcard drain yesterday, we identified an unusual pattern in the sweeps,” Garrett said. 

“That pattern led us to a hypothesis that has since been confirmed: the operator used a paid account at a well-known blockchain-services provider to query the source addresses and perform other related activity during the sweeps,” Garrett continued, adding that the authorities had been notified. 

Galaxy Digital’s research arm also wrote on X that the thief had an unusual pattern of moving the coins. 

“The pattern tells us these were all the same attacker — it does not capture the attack itself, which looks the same as if a coin owner chose to move coins,” the company said, adding that Bitcoiners should move funds out of single-signature Coldcard addresses and into secure custody.

After over $35 million in Bitcoin was drained from wallets on Thursday, Coinkite said that a firmware bug in Coldcard Mk3 devices — starting with version 4.0.1 in March 2021 — caused seed generation to fall back to a weak software Pseudorandom Number Generator instead of the hardware true random number generator. 

This allowed private keys for many single-signature wallets (especially those created without dice rolls or a strong BIP-39 passphrase) predictable enough for attackers to brute-force.

Later on Friday, Coinkite admitted all of its models were vulnerable following more thefts. Over $70 million has so far been swiped and engineers have warned that more Bitcoin addresses could be at risk. 

The company makes a number of Bitcoin products, including cold storage hardware wallets.

This post Coldcard Bitcoin Thief Likely Used Top Blockchain Services Provider: Report first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Younger Democrats Understand Clarity Act And Bill Should Pass, Says Coinbase’s Chief Policy Officer

The Clarity Act will likely get through despite some — older — Democrats holding it back, according to Coinbase’s Chief Policy Officer, Faryar Shirzad. 

Speaking on The Hill’s morning Rising show Friday, Shirzad said that crypto was “maybe the most bipartisan issue in Washington.” 

He added that while some lawmakers were holding back the long-awaited legislation, younger Democrats got it. 

“A lot of the opposition is generational — so it is Democrats who oppose it — but I think younger members who understand the technology, understand that money is transforming how we should engage financially, how we need to adapt, and so it’s really a generational shift,” he said. 

“I think we’ll be on the winning end of that because right now there are about 67 million Americans who own crypto,” Shirzad added. “We’ve got ethics nailed down, we’ve got nominations nailed down, we’ve got a bipartisan bill on the substance, we should be good to go.”

Lawmakers are currently mulling over the latest draft of the Clarity Act, which aims to set in stone digital asset regulation. The latest draft bans officials and their families from issuing or promoting crypto. 

A new draft started circulating this month, banning officials and their families from issuing or promoting crypto — something opposition lawmakers previously had issue with. 

But some Democrats are still unhappy with the bill in its current form. A group of Democrats last week said in a statement that the bill in its current form falls short. 

The bill has been in a deadlock this year, partially because banking chiefs raised concerns over stablecoin yield and ethics concerns. 

Banking lobbyists have said that if crypto exchanges pay attractive yields to customers, banks could lose their deposit base. 

Shirzad previously said in an interview that the bill was an “extraordinarily bipartisan” piece of work. 

If approved, the bill would set in stone crypto regulation in the world’s largest economy.

This post Younger Democrats Understand Clarity Act And Bill Should Pass, Says Coinbase’s Chief Policy Officer first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Coinkite Releases Fixed Firmware After Coldcard Bug; AI Likely Involved In The Breach

Over a thousand bitcoins are believed to have been stolen so far in a hack that started to be discussed on social media in the afternoon of July 30th. Coinkite, one of the most reputable hardware wallet manufacturers, was revealed to have a critical bug in the way it generated secure private keys for its Bitcoin hardware wallets. Industry experts believe AI was used in the breach.

Coldcard MK3 devices with firmware version 4.0.1 (March 2021) through 4.1.9 are the worst affected. 12- or 24-word seeds generated by the device that did not include user-generated dice rolls or a BIP 39 extra passphrase are vulnerable. 

Users who fit this category, who have bitcoins in an MK3 Coldcard and did not use the dice roll feature for extra entropy or the extra passphrase, should consider themselves at risk and move their coins as soon as possible from the wallets. Bitcoin Magazine technical writer Shinobi has published a guide on the topic, and Coinkite has also published a guide and advisory. 

The vulnerability was a specific line of code in the firmware, a low-level software codebase that controls the hardware. This firmware appears to be upgradable. The Coinkite advisory was updated this morning, advising users to upgrade device firmware for all three chips, MK3, MK4 and MK5 devices, including the Coldcard Q:

“Updated July 31, 2026 at 9:33 a.m. EDT: Fixed firmware is now available. Mk4 and Mk5 users must update to version 5.6.0 or later. Q users must update to version 1.5.0Q or later. For Mk3, update to version 4.2.0 or later.”

Coinkite also explained in their advisory that updating the firmware does not mean that the private and public keys generated by the vulnerable firmware before it are now secure; those keys remain vulnerable as they were effectively created with a weak password. After the firmware is updated, a new wallet needs to be created, and the funds need to be sent onchain to the new addresses to secure the funds. Coinkite wrote:

“Updating the firmware does not change or repair an existing seed. If your seed was generated before the fixed firmware version for your model, follow the migration guidance below unless the independent dice-entropy exception applies to you.”

Some Multisignature Wallets May Be At Risk

Peter Todd, Core contributor and cybersecurity engineer, today addressed specific edge cases for multi-signature wallets that use a threshold of Coldcards to secure funds. “Example case: you have a 2-of-3, with 2 Cold Cards, and a 3rd uncompromised device. If you move your funds, the moment your script is revealed for the first time – previously hidden behind the address hash – the attacker now knows enough to use the compromised 2 cold card keys to steal your funds.”

The transaction that reveals the multisig script might be unconfirmed, giving hackers enough time to create a competing transaction with a higher fee. Fortunately, such cases have a solution: the MARA mining pool can help in this case with their private mempool mining service, Slipstream; “because they promise to keep your transaction – and thus pubkeys – secret until they’re already in a block. Dramatically reducing the ability of the attacker to steal the funds,” said Todd. He added that “If you’ve already reused addresses, this isn’t relevant, and you should just try to move your funds ASAP. But if you haven’t, MARA may be able to help.”

Beyond The Immediate Crisis

NVK, one of the co-founders of Coldcard, published a long post on X with an initial analysis beyond the basic security steps needed to secure funds. In it, he wrote that the company is “committed to working with affected users who want to pursue a police report, insurance claim, or their own investigation”, including “a written incident summary specific to your loss and any transaction data we can share”. 

Beyond the immediate crisis, NVK pointed to a broader tech shift as the hacking capabilities of AI begin to change previous cybersecurity dynamics and expectations. In the blog post he wrote: 

“To every other developer: we believe this is a sober reality of the new AI paradigm. AI-assisted code review can now find latent bugs at a speed that is outpacing even the industry’s most seasoned experts. If your firmware is open-source or has ever been public, assume it’s already being read by attackers and defenders alike.”

The hack and over 70 million dollars in estimated stolen funds in the past 24 hours are an effective bounty paid to hackers who are now likely auditing every wallet codebase available for vulnerabilities. While the Bitcoin and broader crypto industry has generally operated under the assumption that hackers will test their code, the development of AI models optimized for cybersecurity accelerates these processes. 

Industry experts gathered in a long X Spaces public call last night, discussing the topic for many hours. Beyond the immediate recommendations and answering questions to Bitcoin users throughout the long Spaces, analysis of what is likely to follow in the coming weeks was also discussed. Other wallet providers are likely to get probed, and especially open source projects which generate private key material will be tested. 

The X Spaces was not recorded, likely to preserve the privacy of everyone in the call; however, initial sentiment suggests companies will need to be auditing their code with the latest frontier models, as a matter of survival. The latest cybersecurity-oriented AI models by Anthropic, OpenAI, Moonshot’s Kimi K3 and others are already available to the public. Many companies in the Bitcoin industry already use these to test the integrity of the code, but some might not be, and the race to find vulnerabilities in wallet-facing code will certainly continue, especially in the following weeks.

Ultimately, today we grieve lost coins, and a state of introspection and careful review occurs. Beyond this now historic hack will be an open source self-custody industry and infrastructure that is likely to be orders of magnitude more secure, with very hard lessons learned. After all, every hacker with an AI agent is likely testing defenses now. 

Multi-vendor, Multi-key Wallets and Covenants

Future high sovereignty wallets, be it at the retail or corporate level, are likely to not depend on any single vendor. Multisignature wallets, when well done, can distribute vulnerability risks across different code bases, teams and hardware. 

User-generated entropy was also a major theme in the X Spaces discussed earlier, with dice roll-generated entropy brought up regularly as a solution. Coldcards, as well as other hardware wallets like Foundation Devices, guide users on how to add their own entropy properly; many dice need to be rolled, ideally north of a hundred individual rolls. Once done, however, dice rolls represent a non-software source of randomness for wallets that also separates users from the edge-case risks in software- or hardware-generated entropy.

Covenants a popular soft fork among a certain niche in the Bitcoin industry have also started to be brought up as further step to strengthen the self-custody industry. This upgrade to the Bitcoin consensus which might be hard fought if achieved at all, could give users important smart contract capabilities, such a wallet that can only send to a white list of addresses, something not possible in Bitcoin script today. 

This post Coinkite Releases Fixed Firmware After Coldcard Bug; AI Likely Involved In The Breach first appeared on Bitcoin Magazine and is written by Juan Galt.

Bitcoin Magazine

US Closes in on Iran’s Strait of Hormuz Bitcoin Insurance Policy, Sanctions Companies

Iran has been dodging sanctions by accepting pay in Bitcoin from ships passing through the Strait of Hormuz, according to a Friday announcement from the U.S. Treasury’s Office of Foreign Assets Control.

The OFAC sanctioned the companies tied to the Iranian regime accused of doing so. Ships have barely been passing through the strategic Strait of Hormuz, where a fifth of the world’s oil passes through, since the U.S. and Israel attacked Iran in February. 

In the statement, OFAC said that Hormuz Safe, developed by Iran’s Ministry of Economy, “accepts payment in Bitcoin and other digital assets” so it can bypass sanctions. 

“With its economy in freefall and inflation in the triple digits, the regime is desperate for cash,” Secretary of the Treasury Scott Bessent said in a statement. 

“The United States will not allow Iran to hold global commerce hostage or use international shipping to finance the IRGC’s terrorism, aggression, and repression.” 

The OFAC statement added that two firms — the Persian Gulf Marine Insurance Company (PGMIC) and HormuzSafe Marine Services Authority (“Hormuz Safe”) — accused of running an IRGC-backed scheme forcing commercial vessels to buy mandatory “insurance” to transit the Strait of Hormuz.                       

Bloomberg first reported in May that Iran had started a Bitcoin-backed insurance service for Iranian shipping companies.

The U.S. earlier this month announced that it had frozen crypto linked to the Iranian regime, mostly in the form of the Tether stablecoin. 

Stablecoins like Tether’s USDT can be frozen by the company that issues the asset but Bitcoin, being decentralized and having no single issuer, cannot. 

Experts have warned that a recession could follow due to the war between the U.S. and Iran due to high oil prices if the Strait of Hormuz remains closed. 

This post US Closes in on Iran’s Strait of Hormuz Bitcoin Insurance Policy, Sanctions Companies first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

COLDCARD SECURITY RISK: IMMEDIATE ACTION REQUIRED

First, yes, that is a very clickbait title and completely unusual. This is a real security issue. Here is the official announcement from Coinkite themselves posted yesterday, please read and verify the genuineness of the issue there.

TLDR: Coldcard MK2, MK3, MK4, MK5 and Q are being drained. A bug lets attackers find your seed phrase without any action on your part. Only wallets generated using the dice roll method are safe, assuming you rolled at least 50 dice. If you don’t know, don’t remember, or aren’t sure, move your funds immediately.

This is a critical issue that requires immediate action. If you used a Coldcard to generate a word seed and did NOT use the recommended 50+ dice rolls to provide your own entropy after the end of 2020, your word seed is not secure. It was generated without a sufficient amount of randomness, and can be brute forced by a malicious attacker. Wallets are actively being drained now. This issue also affects any ephemeral keys and session keys for Clone Coldcard or Key Teleport features, and BIP 85 seeds generated from a compromised seed. YOU MUST STILL MOVE YOUR FUNDS. 

This attack is being actively exploited, with around 1000 BTC seen moving on-chain connected to the vulnerability. 

Breath, and relax. You must move your funds to a new word seed, or a word seed generated by a different device, in order to secure your funds.

–   If you have another hardware wallet that is not a Coldcard, send your funds there. This is the quickest and simplest way to get them someplace secure.

–   If you do not have another hardware wallet, and only have a Coldcard, generate a passphrase using at MINIMUM six seed words from the BIP 39 word list. Use this guide to select your words for the passphrase, do NOT pick them yourself. Check your wallet fingerprint (or an address), power down your device, restart it and re-enter the passphrase. Confirm that the fingerprint (or address) matches, and send your funds to the passphrase wallet. This is not a permanent solution. This is simply giving you enough security that an attacker will not be able to brute force your keys in a matter of days, and you can generate a new seed without being in a state of panic. Make sure your passphrase is written down securely.

–   If you have no other options, or are uncomfortable with using the device at all, Nunchuck wallet available on mobile and desktop. Take your time, don’t rush yourself too fast, and make sure that all of your backups are done properly. After you have verified backups, send your funds to this wallet. If you are managing significant sums, Nunchuck has support for multisig. You can create one using multiple devices. Blockstream Green and Bluewallet are two other options for software wallets. 

Once your funds are secure, take a minute and relax. Coldcards are still safe to use as long as the word seed is generated securely. A firmware patch has been released here. Any word seed generated after this firmware update should be secure (and you can use the dice roll option too). If you have transferred your funds to a hot wallet, or something less secure, your Coldcard is safe to use after applying the firmware update and generating a new seed.

Once you have secured your own funds, stop and take stock. Reach out proactively to anyone you know who might be using a Coldcard that was vulnerable when they generated their seed. Inform them of the issue, and if needed (and you are capable) help walk them through migrating their funds. Everyone doesn’t pay attention to Bitcoin news on a regular basis, so many people might be unaware that they are even vulnerable.

Disclaimer: This article is for informational and educational purposes only and does not constitute financial, legal, or technical advice. Readers are solely responsible for managing their own private keys and executing fund transfers. Bitcoin Magazine and the author assume no liability for any loss of funds, technical errors, or operational missteps resulting from actions taken based on this content. Always independently verify security alerts directly through official project channels before taking action.

This post COLDCARD SECURITY RISK: IMMEDIATE ACTION REQUIRED first appeared on Bitcoin Magazine and is written by Shinobi.

The Senate’s published floor plan for Monday contains no action on the CLARITY Act. Instead, senators are due to reconvene at 3 p.m., with the only listed roll-call vote at about 5:30 p.m. on cloture for the motion to proceed to H.R. 6500, a continuing-resolution vehicle.

The chamber’s cloture ledger, updated through July 31, likewise shows the July 30 filing on H.R. 6500 but no entry for H.R. 3633 or the Digital Asset Market Clarity Act. That does not kill the crypto market-structure bill, but it leaves leaders without a publicly listed floor path while the Senate’s tentative calendar approaches an Aug. 10 state work period.

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Under the Senate’s ordinary Rule XXII, a cloture petition needs 16 signatures. The cloture question normally comes one hour after the Senate meets on the following calendar day but one. Cloture on a motion to proceed generally requires three-fifths of senators duly chosen and sworn, normally 60 votes when all 100 seats are filled.

A Wednesday, Aug. 5, filing could therefore produce a Friday cloture vote if the Senate is in session for the filing and meets Friday. That vote would concern ending debate on the motion to proceed, not passing CLARITY. If cloture is invoked, Rule XXII allows up to 30 hours on the motion before a vote to proceed. The bill would then still require consideration and passage and could face another cloture hurdle.

Leadership has faster options. A special bipartisan petition requires the two leaders, seven additional senators not affiliated with the majority and seven additional senators not affiliated with the minority among its 16 signers. The cloture question comes one hour after the chamber meets on the next calendar day. If cloture is invoked, the Senate votes on proceeding without further debate. A unanimous-consent agreement could also compress the schedule, though any senator could object.

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The exact vehicle remains open. H.R. 3633 is the House-passed CLARITY Act, and Sen. Cynthia Lummis called her July 22 merged Banking-Agriculture proposal updated H.R. 3633 text. The current floor notice and cloture ledger do not say whether that text would move as H.R. 3633, an amendment or another vehicle.

The vote count is unsettled as well. Seven Democratic negotiators, Catherine Cortez Masto, Angela Alsobrooks, Cory Booker, Ruben Gallego, John Hickenlooper, Mark Warner and Raphael Warnock, said the draft fell short while committing to continued negotiations. Sen. Elizabeth Warren has opposed the revised bill. Axios reported that Majority Leader John Thune expected a procedural vote before the recess only if enough Democrats supported moving ahead.

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The next decisive signal is procedural: leaders must identify the vehicle and either file ordinary cloture by Wednesday for a possible Friday vote, assemble the bipartisan petition, or secure unanimous consent. Any new filing or leadership notice would change the picture.

The post CLARITY Act vanishes from Monday’s Senate schedule, triggering 72-hour countdown to save it before recess appeared first on CryptoSlate.

Ctrl Wallet users have reached the app's last scheduled day of full service. On Aug. 3, sending, receiving, swaps, and dApp connections are due to stop, leaving recovery-phrase export as the only function.

Ctrl markets the non-custodial wallet as supporting more than 2,500 blockchains. Its deprecation notice says installed copies keep all functions through Aug. 2. The notice lists calendar dates only. A timezone and exact cutoff hour are absent, so waiting for a particular time on Monday risks missing the transfer window.

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The deadline changes the app interface. Ownership stays on-chain, and the recovery phrase remains the key that can reopen the same accounts in another compatible wallet.

Access through the installed app carries a second clock. Ctrl cannot promise that a copy will keep opening after Aug. 3, and the company cannot recover a lost phrase. Users who wait could lose their working route into those accounts if the app later stops opening.

Ctrl markets the wallet as trusted by more than 600,000 people. A verified tally of active or affected users is unavailable.

Move the wallet, keep the phrase private

Users have two routes. Export the 12- or 24-word recovery phrase and import it into a compatible wallet, or send assets to addresses they already control before Aug. 3. An import reconnects the replacement app to the same blockchain accounts. A transfer moves the assets themselves.

The check comes after import. Phantom's support documentation warns that unsupported derivation paths can prevent expected accounts from appearing even when the phrase is valid. Confirm the expected accounts, networks and balances before relying on the new wallet.

The recovery phrase is also the bait. Ctrl warns that no official migration token, compensation airdrop or refund exists. Any offer built around one of those promises is a scam, as is any message asking for the phrase.

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Enter the phrase only inside the setup flow of the compatible wallet you chose. A caller, direct message or promotional site that gets those words gets control of the linked accounts.

After Aug. 3, phrase export is all Ctrl expects the app to provide, for however long that installed copy still opens. Completing the migration on Aug. 2 avoids betting account access on an app with no guaranteed lifespan.

The post Another crypto wallet pulls the plug tomorrow with no exact cutoff, leaving users racing to rescue tokens appeared first on CryptoSlate.

XRP funds led altcoin inflows in July, extending a four-month streak that increasingly separates them from most rival products.

The US-listed funds attracted $27.29 million during the month, nearly twice Solana’s $14.62 million intake, according to SoSoValue data. Chainlink followed with $4.54 million, while Hedera products added $3 million.

Bitcoin and Ethereum remained the dominant crypto fund categories, attracting $172 million and $365 million, respectively. Among products tracking assets outside the two market leaders, however, XRP finished July comfortably ahead.

XRP builds the steadiest demand as Solana and Hyperliquid gain ground

XRP funds have become the altcoin ETF market’s most consistent source of new capital, ranking first or second in monthly inflows since April and avoiding a single monthly outflow over that period.

Indeed, XRP funds attracted $81.59 million in April, $131.94 million in May, $59.46 million in June and $27.29 million in July. The four-month run has added more than $300 million and lifted cumulative inflows to roughly $1.5 billion, the largest total among altcoin products.

This run also gives XRP the longest active monthly inflow streak across the crypto funds tracked by SoSoValue this year.

However, that lead is becoming more competitive. Solana funds have accumulated about $1.15 billion since launch and returned to second place in July after a modest June outflow. Their scale suggests investor demand is beginning to extend beyond XRP rather than concentrating in a single altcoin.

Hyperliquid has emerged even faster. Its funds attracted about $293 million across May and June, briefly surpassing XRP in both months before recording its first outflow in July. The reversal slowed that momentum but did not erase one of the strongest launches in the market.

Together, XRP, Solana, and Hyperliquid are forming a distinct group beneath Bitcoin and Ethereum.

XRP stands out for the durability of its inflows, while Solana and Hyperliquid show that investors are also building meaningful exposure to a small number of emerging alternatives.

Crypto ETF product shelf is expanding faster than demand

Strong demand for XRP, Solana, and Hyperliquid contrasts with weak, sporadic flows across the rest of the altcoin fund market.

Several products spent most or all of July without attracting fresh capital. Avalanche and Polkadot recorded no monthly flows, while BNB has not registered a net inflow since June 11.

Their cumulative totals remain modest, ranging from about $1.45 million for BNB and $1.94 million for Polkadot to roughly $24 million for Avalanche.

A zero-flow day does not mean investors stopped trading the funds. It means creations and redemptions produced no net addition of capital. But the frequency of those days still reveals a market where new listings are expanding faster than the pool of committed buyers.

For context, Litecoin and Dogecoin each recorded flows on just two days during July, with withdrawals largely offsetting the limited money that entered. Dogecoin finished the month with about $526,000 of net outflows, while Litecoin was effectively flat.

Hedera stood out within that group, attracting $3 million across four positive sessions and lifting cumulative inflows to about $105 million.

Even so, the concentration of its monthly demand into only a few days shows how sporadic allocations remain outside the leading products.

The emerging structure is therefore becoming more selective. Bitcoin and Ethereum dominate the market, XRP and Solana have established a credible second tier, and Hyperliquid has shown that newer products can break through quickly.

Beneath them, a growing long tail of altcoin funds is struggling to convert regulatory access into sustained investment demand.

The post XRP extends the longest active ETF inflow streak in crypto as rival funds struggle for fresh cash appeared first on CryptoSlate.

Coldcard’s wallet crisis has shaken Bitcoin sentiment, blurred on-chain signals and exposed a recurring weakness in AI-assisted cyber defenses.

On July 30, hardware maker Coinkite warned users that wallets generated with affected Coldcard firmware could be drained because a software error produced seed phrases with far less randomness than intended.

This security incident, Galaxy Research said, resulted in three suspected attack waves that targeted 4,585 addresses and drained 1,367.05 BTC, worth about $89 million.

The Bitcoin associated with the three identified waves remains in attacker-controlled addresses, according to Alex Thorn, Galaxy Digital’s head of firmwide research.

However, he said smaller opportunistic thefts were already moving through peel chains, cross-chain services and offshore casinos.

Coldcard migrations blur Bitcoin’s bearish signals

This escalating threat has pushed potentially exposed users to move their Bitcoin before attackers reach it.

Although Coinkite has released fixed firmware for affected models, existing affected seed phrases cannot be repaired through an update, leaving holders to generate new wallets and transfer their funds to secure addresses.

That migration has produced an unusual surge in activity among smaller holders and long-dormant coins.

CryptoQuant research head Julio Moreno said transactions involving outputs of less than 1 BTC reached 39,600 BTC on July 31. That was the largest daily total for the cohort since November 2022, when 39,900 BTC moved shortly after FTX collapsed.

Bitcoin’s daily active addresses also jumped from about 645,000 on July 30 to nearly 1 million the following day, their highest level since Dec. 10, 2024.

Moreno said the increase was concentrated among sending addresses, while receiving addresses rose by a much smaller proportion, suggesting holders were moving funds out of existing wallets as a precaution.

Exchange deposits involving transfers below 10 BTC climbed to 7,300 BTC, their highest level since Feb. 6. Some holders may have used exchanges as temporary destinations while creating replacement wallets, although the flows could also include investors preparing to sell.

CryptoQuant analyst JA Maartunn added that 77,402 BTC from older unspent-transaction-output bands had moved since the vulnerability became public.

However, Maartunn cautioned against treating the resulting movements as evidence of broad investor capitulation, saying the context pointed heavily toward users securing their wallets.

He stated:

“The Coldcard seed phrase issue may cause old coins to move as users secure their savings. That can distort LTH Supply Change, Coin Days Destroyed, Spent Output Age Bands and other related charts.”

Meanwhile, broader market sentiment deteriorated sharply amid the heightened network activity.

Blockchain analytics firm Santiment said Bitcoin’s ratio of positive to negative commentary fell to its lowest level since its modern social tracking began. The reading reached 0.58 bullish comments for every bearish one across X, Reddit, Telegram and other platforms.

Santiment attributed the unusually severe reaction to the nature of the breach. The exploit struck cold storage, which many holders regarded as Bitcoin’s safest final line of defense after withdrawing their funds from exchanges and avoiding riskier crypto platforms.

US AI guardrails complicate Coldcard investigation

The same wallet movements that blurred Bitcoin’s market signals have increased the urgency of tracing stolen funds before they reach services where they can be converted or withdrawn.

Galaxy Research has collected reports from victims, clustered suspected attacker addresses and shared its findings with law enforcement, compliance firms and other cyber investigators. Thorn said the firm had reported about 600 addresses believed to be holding Bitcoin stolen from vulnerable Coldcard wallets.

However, he said guardrails on US large language models hindered attempts to track the stolen assets and protect users, forcing investigators to turn to an open-source Chinese model.

Thorn has not identified the US models, disclosed the prompts they rejected, or explained what the alternative system contributed to the investigation.

His concerns nevertheless echo a recent problem encountered by Hugging Face during a live cyberattack.

The AI platform said its security team needed to analyze more than 17,000 recorded events after an autonomous agent compromised parts of its infrastructure. Investigators initially submitted attack commands, exploit payloads, and command-and-control artifacts to frontier models accessed through commercial application programming interfaces.

Those requests were blocked because the models’ safety systems could not distinguish the incident responders from attackers, Hugging Face said. The company instead conducted the forensic analysis with GLM 5.2, an open-weight model developed by China’s Z.ai and operated on its own infrastructure.

The model helped reconstruct the attack timeline, identify compromised credentials, extract indicators of compromise and separate genuine damage from decoy activity. Hugging Face said the AI-assisted investigation reduced work that could have taken days to a matter of hours.

The episode illustrates the asymmetry Thorn says investigators encountered during the Coldcard crisis.

Attackers can use unrestricted or modified systems without observing the safeguards imposed on commercial models. Defenders, meanwhile, may encounter refusals when submitting material that resembles malicious activity, even when their purpose is to contain an active incident.

Broadly removing those restrictions would create a separate risk. Model providers cannot grant elevated capabilities whenever someone claims to be investigating a theft, particularly when the same tools could support wallet attacks, money laundering or attempts to evade transaction-monitoring systems.

That distinction becomes especially urgent in crypto because stolen assets can pass through bridges, exchanges and gambling platforms within minutes. Delays can allow funds to leave services capable of freezing them before victims obtain police reports or investigators complete manual tracing.

The post Coldcard’s $89M wallet bug triggers the biggest Bitcoin movement since FTX and completely distorts market signals appeared first on CryptoSlate.

The U.S. Office of Foreign Assets Control added two Iranian maritime insurance firms to its Specially Designated Nationals list on July 29, designating HormuzSafe Marine Services Authority and Persian Gulf Marine Insurance Company as blocked counterparties for U.S. persons and for transactions within or transiting the United States.

The OFAC notice lists both Iranian maritime insurance firms under Executive Order 13902 for operating in Iran’s financial sector and says each is subject to secondary sanctions. HormuzSafe had previously been described as a Bitcoin-settled insurance proposal. The designation adds two named entities to an existing sanctions-risk framework.

The Treasury Department alleged that HormuzSafe and PGMIC support an Islamic Revolutionary Guard Corps-backed scheme that forces commercial vessels to buy purported insurance for passage through the Strait of Hormuz. Treasury also said HormuzSafe accepts Bitcoin and other digital assets to bypass Western sanctions. Neither July 29 page identifies wallet addresses or payment volume.

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A separate shadow-fleet component of the same action designated eight companies for operating in Iran’s petroleum sector and identified eight vessels as blocked property linked to them. Those companies and vessels form a different group from the two insurance firms.

The compliance split

OFAC rules cover U.S. citizens and permanent residents wherever they are located, people and entities in the United States, and U.S.-incorporated companies and their foreign branches. Iran sanctions can also cover foreign entities owned or controlled by U.S. persons.

Property of HormuzSafe, PGMIC or another blocked person that enters the United States or a U.S. person’s possession or control must be frozen. U.S.-person transactions, and transactions within or transiting the United States, involving blocked property are generally prohibited unless authorized or exempt. OFAC explains that blocking freezes the property rather than transferring or returning it.

An initial block must be reported to OFAC within 10 business days. The same deadline applies when the rules require rejection of a transaction that does not involve blockable property, according to reporting guidance.

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The duty to identify blocked entities extends beyond exact-name matching. Under the 50 Percent Rule, an unlisted entity is blocked when one or more blocked persons own at least 50% of it, directly or indirectly and individually or in the aggregate. OFAC recommends ownership due diligence on transaction parties and account relationships. Its insurance guidance separately recommends risk-based screening across policy issuance, renewal, amendments, claims and payments.

OFAC may impose civil penalties for sanctions violations on a strict-liability basis, meaning a person subject to U.S. jurisdiction can face civil liability without knowing a transaction was prohibited. Treasury’s strict-liability statement expressly concerns civil enforcement.

Foreign counterparties face a different exposure analysis. OFAC bars non-U.S. persons from causing or conspiring to cause U.S. sanctions violations or engaging in evasion. Its sector guidance says Executive Order 13902 can reach people who knowingly engage in certain significant sector-related transactions, people who materially support designated persons, and foreign financial institutions that knowingly facilitate significant transactions for them.

Separate Hormuz guidance warns that safe-passage payments or services can create significant sanctions exposure for non-U.S. actors. The applicable response therefore depends on the counterparty, ownership, conduct, jurisdiction and any U.S. nexus. Transit through the strait alone is not the trigger described in the July 29 action.

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The post The US just blacklisted the Iranian maritime scheme forcing commercial ships to pay Bitcoin tolls for safe passage appeared first on CryptoSlate.

At the end of July 2026, one of the most closely watched funds in global markets lost roughly three quarters of its assets in a matter of days. Situational Awareness, the artificial intelligence fund founded by former OpenAI researcher Leopold Aschenbrenner, was forced to sell its entire public equity book to Ken Griffin's Citadel at a discount after prime brokers issued margin calls it could not meet.

The story matters to crypto readers for reasons that go well beyond schadenfreude at a leveraged blow-up in another asset class. The collapse ran on mechanics that anyone who traded through 2022 will recognise instantly, it involves a figure whose career began inside the FTX orbit, and it arrived in the same weeks that Bitcoin quietly broke its correlation with the AI trade. Several crypto-native companies are now carrying AI infrastructure risk directly on their balance sheets.

Who is Leopold Aschenbrenner?

Aschenbrenner is a German investor and former AI researcher, born in 2001 or 2002 to parents who were both doctors, and educated at the John F. Kennedy School in Berlin. He entered Columbia University at 15 and graduated as valedictorian in 2021 at the age of 19, with a degree in economics and mathematics-statistics.

His early career included a stint at the FTX Future Fund, the philanthropic arm of Sam Bankman-Fried's exchange, where he helped run a charitable operation from the Bahamas. He then joined OpenAI's Superalignment team, the group tasked with controlling systems more capable than humans.

OpenAI dismissed him in April 2024 over an alleged information leak. Aschenbrenner disputes that account. He has said he shared a largely non-confidential planning document with outside researchers for feedback, and that his dismissal followed tensions over warnings he had raised about the company's security practices. OpenAI has said those concerns were unrelated to his departure.

In June 2024 he published "Situational Awareness: The Decade Ahead," a 165-page essay arguing that artificial general intelligence was arriving faster than almost anyone understood, and that the resulting demand for compute, energy and hardware would be historic. The essay became required reading across Silicon Valley. The following month, he turned it into a fund of the same name.

The trade was the essay. If AI capability scaling continued, then semiconductors, memory, data centres and power infrastructure were the bottleneck, and owning that bottleneck with leverage was the highest-conviction expression of the thesis. Backers included Stripe co-founders Patrick and John Collison, former GitHub CEO Nat Friedman and investor Daniel Gross. Jane Street was also an investor. The Wall Street Journal reported gains of more than 1,000% since inception.

Reported peak assets vary by source. CNBC put the fund's high-water mark at around $45 billion, while other reporting has cited roughly $20 billion in assets under management at peak. Either figure represents an extraordinary amount of capital for a manager who had never run money before founding the fund at 22.

What exactly happened to Situational Awareness?

The unwind ran over roughly two weeks in late July.

The fund's concentrated positions in AI infrastructure names, reported to include SK Hynix, CoreWeave, Nebius, Micron and Bloom Energy, fell between 35% and 47% during the month. The Philadelphia Semiconductor Index dropped 28.6% from its 22 June peak as investors began questioning whether hyperscaler capital expenditure could ever generate adequate returns. A separate short position against software stocks reportedly went against the fund at the same time, compounding the damage from both directions.

Then the leverage did what leverage does. Reports put the fund's gearing at as much as 400%. At four times leverage, a 25% decline in the underlying positions is mathematically sufficient to erase an investor's entire equity contribution. The positions fell considerably further than 25%.

Prime brokers Goldman Sachs, J.P. Morgan and Bank of America issued margin calls. The fund attempted several escape routes: a capital raise letter to existing investors, discussions with lenders, and negotiations with Millennium Management and Jane Street Group. According to reporting in the Financial Times, all of them failed. Citadel stepped in and bought the entire public book at a discount.

Assets fell from roughly $45 billion to around $10 billion. Reporting since suggests the fund may still be forced to liquidate further holdings.

There is a revealing postscript. Once Citadel had absorbed the position, the Nasdaq gained 3.30% and the semiconductor index rose sharply. Much of the late-July decline in AI infrastructure names had been the market pricing in a large, visible, forced seller. Removing him removed the discount.

The timing was unusual in one further respect: Aschenbrenner married Avital Balwit, chief of staff to Anthropic CEO Dario Amodei, in California the same weekend the fund was being unwound.

Why does an AI fund blow-up matter for crypto?

Three reasons, in ascending order of importance.

The first is that this is a familiar story with different tickers. A young quantitatively gifted manager builds a totalising thesis about the future, expresses it through extreme concentration and heavy leverage, produces spectacular returns that attract enormous capital, and then discovers that leverage is symmetrical. Crypto has run this experiment repeatedly. The specific detail that closes the circle is that Aschenbrenner's first significant job was at the FTX Future Fund, and that Jane Street, where Bankman-Fried himself trained, appears in this story both as an investor and as a failed rescue counterparty.

The comparison should not be pushed too far. There is no allegation of fraud, no customer funds, no missing assets. Situational Awareness appears to have been a legitimate fund that took a directional view and lost, which is a categorically different thing from what happened at FTX. But the underlying behavioural pattern, that of narrative conviction plus leverage minus risk management, is the same one that has cost crypto investors more money than any hack.

The second is that the mechanics are identical to a liquidation cascade. Concentrated leveraged longs, a price decline, a margin call, a forced seller who must sell into a falling market, and a well-capitalised buyer waiting to take the other side at a discount. Crypto traders watch this happen on-chain and on exchange liquidation feeds constantly. On 13 July, when the Kospi fell 8.95% and SK Hynix dropped 15.37% in its worst session on record, $253 million in leveraged crypto positions were force-liquidated in parallel, with long positions accounting for 76% of the total. Same physics, different venue.

The third, and most consequential, is what crypto did not do.

Why did Bitcoin not follow AI stocks down this time?

For most of 2026, crypto traded as a high-beta expression of the AI trade. It rose when chip stocks rallied and fell when they slipped. That relationship broke in July, and it broke twice inside five sessions.

When roughly $797 billion came off the largest US technology stocks in a single Thursday session in late July, $Bitcoin barely moved. On 29 July, as Asian equities suffered one of their worst two-day stretches of the year and SK Hynix fell nearly a fifth despite growing quarterly profit more than sixfold, Bitcoin rose about 1% to $63,800. Ether added 1% to $1,899, XRP gained 2% to $1.07, and Solana held around $73. When Citadel absorbed the Situational Awareness book and AI infrastructure names rebounded sharply, crypto markets were largely unmoved in the other direction as well.

Across July as a whole, Ether gained 16.29% and Bitcoin 5.61%, while the AI infrastructure complex was being repriced downward.

The interpretation matters. One reading is that Bitcoin is regaining independence as an asset class, driven now by rate expectations, ETF flows and its own regulatory calendar rather than by sentiment toward Nvidia's supply chain. Analysts increasingly describe crypto as behaving like a liquidity sponge, expanding and contracting with global money supply and real rates rather than with any individual equity narrative. Research has attributed roughly 45% of weekly Bitcoin price movement in 2026 to ETF flows alone.

A more cautious reading is that two weeks is not a trend, and that decoupling claims have been made and abandoned repeatedly since 2020. The honest position is that the correlation has weakened materially and visibly, and that the next genuine risk-off event will test whether that is structural or coincidental.

Which crypto companies are actually exposed to the AI trade?

This is where the story stops being an analogy and becomes direct exposure. A significant portion of the Bitcoin mining industry has spent two years converting itself into AI infrastructure, and it is now priced accordingly.

Miners owned the two things AI companies most needed: large contracted power capacity and physical data centre real estate. After the 2024 halving compressed mining economics, pivoting that capacity toward high-performance computing and AI hosting became the sector's dominant strategy. Leasing activity grew from 95 MW in the first quarter of 2026 to 1.19 GW in the second, with a further 928 MW announced in the third quarter through 27 July, bringing the year-to-date total to 2.21 GW. TeraWulf signed a $19 billion lease with Anthropic. Hut 8, IREN and Applied Digital accounted for the bulk of capacity signed this year.

That pivot worked in both directions. When AI infrastructure sentiment cracked in July, these names fell harder than the underlying asset they were named after. IREN dropped 33% over a month, TeraWulf 38% and Applied Digital 36%, against a 13% decline in the broader Global X Data Center and Digital Infrastructure ETF. Over July specifically, MARA Holdings fell 18.14%, IREN 19.40% and Riot Platforms 23.08%, while spot Bitcoin gained. Their beta figures explain the sensitivity: IREN carries a five-year monthly beta of 4.28, TeraWulf 4.26 and Applied Digital 5.68.

Analysts at KBW made the sharpest observation about what was actually repriced. The selloff, they argued, primarily removed the value that markets had assigned to future AI and HPC leases rather than repricing completed projects. In other words, the market stopped paying for pipeline and started paying only for signed contracts with creditworthy tenants. KBW downgraded Core Scientific to Market Perform and flagged a new category of danger it called model-layer risk: if an AI lab tenant fails to meet expectations, the developer holding the lease is exposed.

CoreWeave, one of Aschenbrenner's reported core positions, illustrates the whole loop. It began life as an Ethereum mining operation before becoming an AI cloud provider, attempted a merger with Bitcoin miner Core Scientific that failed, and has since fallen 61% from its mid-year high of $187, shedding roughly $33 billion in market value in six weeks amid short-seller criticism and doubts about GAAP profitability. A company born from crypto mining became the most crowded position in the AI trade and then one of its largest casualties.

What should crypto investors take from this?

1. Leverage is the mechanism, never the thesis. Aschenbrenner's core argument about AI compute demand may still prove correct over a decade. It did not matter. Four times leverage meant a 25% drawdown ended the position regardless of whether the ten-year view was right. Being early and levered is indistinguishable from being wrong.
    
2. Concentration risk compounds narrative risk. The fund held a handful of names expressing a single idea. When the idea was questioned, every position moved together and there was nothing to sell that was not already falling. Crypto portfolios built entirely around one cycle narrative carry the same structure.
    
3. Watch the miners as the transmission channel. If the AI infrastructure repricing continues, it reaches crypto through mining equities before it reaches spot Bitcoin. The KBW distinction between contracted revenue and speculative pipeline is the most useful analytical frame currently available for that sector.
    
4. Treat the decoupling as provisional. Bitcoin's independence through two separate AI routs is real and measurable. It is also recent. The immediate calendar offers a test: US payrolls on 7 August and CPI on 12 August, with a September rate decision that markets price at 61.4% for a hike. If Bitcoin trades on those numbers rather than on the semiconductor tape, the case strengthens considerably.

Consolidation phases are where positioning happens. Prices stop trending, volume thins out, retail attention drifts elsewhere, and the assets that will lead the next expansion quietly change hands. That is roughly where the crypto market sits in early August 2026.

Bitcoin trades at $63,043, down roughly 28% year to date and compressing between support at $62,000 and a descending trendline that has capped every rally since 21 July. Most large-cap altcoins are 32% to 44% lower on the year. The screen below focuses on tokens priced under $5, with modest market capitalisations and deep drawdowns, but the selection is driven by identifiable catalysts rather than by price weakness alone. A token being cheap is not a thesis.

Why is the crypto market consolidating right now?

Bitcoin trades at $63,043 as of 13:11 UTC on 2 August, up a marginal 0.12% on the session, and the three-hour chart shows a textbook compression pattern.

The structure has four defined boundaries:

• Descending trendline resistance. Since the $66,803 high printed on 21 July, Bitcoin has produced a clean sequence of lower highs. That trendline has rejected every rally attempt for nearly two weeks.
• The 200-period EMA at $63,969. It supported price through most of July and flipped to resistance around 30 July. Bitcoin has traded beneath it since.
• Horizontal resistance at $65,000, a level lost in late July that now sits above both the EMA and the trendline.
• Support at $62,000, where selling was absorbed on both 25 July and 1 August, with major support far below at $58,000, the base of the early-July advance.

The RSI reads 44.83 against its own 41.50 average. That is below the neutral 50 line, but turning up from the lows rather than deteriorating. Sellers are largely exhausted, buyers are absent, which is the definition of consolidation.

The important detail is that this range is closing. The descending trendline is falling toward the $62,000 horizontal support, which means the two boundaries converge over the coming fortnight and force a resolution rather than allowing an indefinite drift. A break above the trendline and the $63,969 EMA opens $65,000 and then the 21 July high at $66,803. A loss of $62,000 puts $58,000 in play, roughly 8% lower, and altcoins would almost certainly fall harder than that.

Three features define this phase. Volatility has compressed, with Bitcoin absorbing a hawkish Fed, a $70 million wallet exploit and a stalled regulatory bill in a single week while declining only about 2%. Institutional flows have stabilised without turning positive, as July closed with $172.4 million of net inflows into US spot Bitcoin ETFs, ending two months of outflows but nowhere near the pace that drove previous advances. And altcoin dispersion has widened, with Cardano up 12.36% over the past week while Hyperliquid fell 11.02%, which is characteristic of a market trading on individual catalysts rather than a single directional impulse.

That last point matters most for this article. When correlation breaks down, token-specific developments start to determine returns.

Which macro forces are actually driving altcoin prices?

• Monetary policy is the dominant variable. The FOMC held rates at 3.50% to 3.75% on 29 July, but split 9-3, with Beth Hammack, Neel Kashkari and Lorie Logan all voting for a 25 basis point hike. It is the sharpest committee split since September 2016. CME FedWatch now assigns a 61.4% probability to a September hike, up from 50.6% a month earlier. Higher real yields compress valuations across long-duration risk assets, and altcoins sit at the far end of that spectrum.
• Geopolitical risk is persistent but increasingly discounted. The conflict involving Iran that escalated with joint US and Israeli strikes in late February remains unresolved, and Brent crude has carried a geopolitical risk premium throughout 2026, trading above $90 in July. The Russia-Ukraine war continues into its fifth year and is currently occupying Senate floor time through a sanctions bill. The important nuance is that markets have largely adapted. Analysts increasingly describe crypto as behaving like a liquidity sponge, expanding when global money supply and risk appetite rise and contracting when real rates climb, largely regardless of the headline conflict situation. War headlines produce sharp intraday moves that tend to mean-revert. Rate expectations produce trends.
• Regulatory clarity has been deferred. The CLARITY Act has cleared the House and the Senate Banking Committee, but no floor vote is scheduled, and Majority Leader John Thune does not expect one before the recess beginning around 7 August. Polymarket odds on 2026 passage have fallen from above 80% in February to roughly 35%. For altcoins specifically, this is the most consequential of the three, because the bill would have resolved the token classification question that keeps most regulated institutions away from anything other than Bitcoin and Ethereum.
• Security risk has repriced. An attacker drained 1,082.65 BTC, worth roughly $70.2 million, from 1,196 Coldcard-generated addresses on 30 July, exploiting a firmware flaw that allowed seeds to be reconstructed offline. Blockaid reported that crypto projects lost more than $1 billion to hacks in the first half of 2026. This raises the risk premium across the sector, and it disproportionately affects protocols holding large amounts of user capital.

What are the top 5 altcoins to watch in August 2026?

1. Ondo (ONDO)

Price: around $0.38 to $0.41 | Market cap: approximately $1.9 billion | Down roughly 81% from its $2.14 all-time high

$Ondo has the most concrete institutional pipeline of any token on this list. Its DTCC-linked tokenization initiative went live in July 2026, involving BlackRock, J.P. Morgan and Goldman Sachs in tokenizing Russell 1000 equities and Treasury bills. A separate cross-border settlement pilot with J.P. Morgan's Kinexys platform, Mastercard and Ripple completed in under five seconds. The protocol expanded tokenized securities on Solana with round-the-clock minting and redemption, and launched Ondo Perps for perpetual futures tied to equities and commodities. Total value locked sits near a record $3.5 billion across more than 205,000 holders. A governance vote to permanently burn 100 million ONDO, equal to 10% of total supply, concluded on 25 July.

The risk: Ondo is the clearest example in this market of platform growth failing to translate into token performance. TVL hit record highs while the price stayed flat, a documented disconnect. Roughly half the 10 billion total supply is still to enter circulation, which means dilution remains a structural headwind regardless of adoption.

2. Sui (SUI)

Price: around $0.72 to $0.78 | Mid-cap | Well below its all-time high

$Sui recorded a genuine institutional milestone on 23 July when Abu Dhabi sovereign wealth fund Mubadala tokenized a $75 million private markets fund directly on the network. In the same week, Hashi launched a Bitcoin lending testnet targeting institutional BTC-backed credit markets built on Sui. The pattern suggests a network positioning for regulated financial products rather than retail DeFi activity. Price action has been more constructive than the broader altcoin picture, with SUI reclaiming a key technical level in late July alongside rising on-chain activity.

The risk: the technical picture is a recovery attempt off cycle lows, not a confirmed trend reversal. Sui also tends to track broader altcoin liquidity and Bitcoin dominance more closely than it moves on its own news, which limits how much the Mubadala headline can do in a flat tape.

3. Stellar (XLM)

Price: around $0.18 | Roughly 79% below its 2018 all-time high of $0.94

$Stellar has assembled an unusually credible institutional validator set. MoneyGram, Figure Markets and Range all joined as Tier 1 validators in July. Tradable has committed to bringing up to $1 billion in tokenized private credit to the network. Most significantly, the DTCC has confirmed plans to connect its tokenized securities platform to Stellar, with $XLM expected to serve as the settlement asset. The network activated Protocol 27 following a 8 July vote, introducing authentication delegation, and reported more than $2 billion in real-world assets issued in Q1 2026 alone. Stablecoin supply on the network has grown almost 300% over two years.

The risk: the DTCC rollout is targeted for the first half of 2027. That is a long wait, and long-dated catalysts are precisely what a market with a 61.4% probability of a September rate hike discounts most heavily. XLM has also repeatedly failed to hold above the $0.20 resistance level.

4. Arbitrum (ARB)

Price: around $0.08 | Market cap: approximately $517 million | Roughly 97% below its $2.39 all-time high

$Arbitrum presents the sharpest divergence between network usage and token price in this group. Robinhood Chain launched its mainnet in early July using Arbitrum's technology, generating over $500 million in daily trading volume at peak, 17 million transactions in its first week and 350,000 addresses. The network surpassed Hyperliquid to reach eighth place among all chains by total value locked at approximately $1.2 billion, and leads all Layer 2 networks in Aave v3 borrowing and lending activity with $728 million in TVL. Usage has held up through a period of severe token weakness.

The risk: the reason for that divergence is dilution, and it is ongoing. Arbitrum unlocked approximately 92.65 million tokens in mid-July, most going to team, advisors and investors, with further unlocks scheduled through the remainder of 2026. Sustained selling pressure from vesting is the direct explanation for the price performance, and nothing in the schedule changes before year-end.

5. Ethena (ENA)

Price: around $0.083 | Market cap: approximately $790 million | Roughly 94% below its $1.52 all-time high

$Ethena is the highest-risk name here and belongs on the list for one reason: the institutional distribution is real. BlackRock integrated Ethena's USDe into its Aladdin risk management platform. Janus Henderson took a position in ENA and plans to use staked USDe for treasury cash management, adding to existing relationships with Anchorage Digital and Securitize. The potential fee-switch activation would convert ENA from a pure governance token into a cash-flow-linked asset by directing protocol revenue to stakers, which is the single change most likely to re-rate the token.

The risk, and it is substantial: the fundamentals are deteriorating, not improving. Gross protocol revenue fell 32% quarter over quarter to $65.06 million in Q1 2026. USDe supply has fallen from a $14.5 billion peak to roughly $5.92 billion. Daily active users have dropped to around 1,200. Ethena completed a 172 million token unlock on 4 July with further releases scheduled for August, and roughly 40% of the 15 billion maximum supply remains to be distributed. Ethena's model is also funding-rate dependent, meaning its yield compresses precisely when market sentiment turns negative. This is a speculative position on the fee switch and institutional distribution outrunning a shrinking protocol, not a bet on current performance.

Comparing where to trade these? Fees and spreads matter more in a range-bound market than in a trending one. 👉 See our crypto exchange comparison

What are the risks of buying altcoins during consolidation?

Consolidation does not guarantee an upside resolution. Ranges break in both directions, and a Bitcoin close below $62,500 would likely drag every token on this list lower regardless of individual catalysts, since altcoin correlation to BTC rises sharply during drawdowns.

Three risks deserve specific attention this month. Token unlocks affect three of the five names here, with ARB, ENA and ONDO all carrying active or imminent dilution schedules. The September rate decision is a binary event that markets currently price at 61.4% for a hike, and altcoins are the highest-beta expression of that outcome. And a deep drawdown is not automatically an entry point, since roughly 94% of major tokens launched since 2024 now trade below their launch price, with a median return around -95.7%. Most assets that fall 90% continue falling.

The immediate calendar is dense: US payrolls on 7 August, the Senate recess the same day, and CPI on 12 August. All three land before any of the catalysts described above have time to develop.

The week of 27 July to 2 August delivered an unusually dense run of catalysts: a hawkish hold from the Federal Reserve, the largest hardware wallet failure in Bitcoin's history, a month-end ETF redemption wave and a market structure bill running out of legislative runway.

$Bitcoin absorbed all of it and closed the week down roughly 2%, trading at $63,153 as of midday Sunday. That muted reaction is arguably the week's most informative data point, and it suggests a market that has already discounted a substantial amount of negative news.

The following is a breakdown of what moved, why it matters, and the scheduled events most likely to drive prices over the coming week.

What was the biggest crypto news this week?

Four developments carried material weight:

1. The Fed held rates, but three officials voted for a hike, lifting September tightening odds above 60%.
2. A firmware flaw in Coldcard hardware wallets was linked to approximately $70 million in stolen Bitcoin.
3. US spot Bitcoin ETFs closed the week negative following a heavy month-end redemption day.
4. The CLARITY Act reached the Senate recess window with no floor vote scheduled.

Secondary items, including Tether's quarterly profit and Solana's tokenized equity volumes, sit beneath those four in terms of market impact.

Why was the Fed's hold actually hawkish for crypto?

On 29 July the FOMC left the federal funds target range at 3.50% to 3.75%. The decision itself was expected. The vote was not. The committee split 9-3, with three regional presidents dissenting in favour of a 25 basis point hike: Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas. It marks the sharpest FOMC split since September 2016.

Fed Chair Kevin Warsh reinforced the hawkish signal at the press conference, telling reporters there is no soft inflation target and no soft implicit target on this committee's watch.

Markets repriced immediately. CME FedWatch now assigns a 61.4% probability to a 25 basis point September hike, up from 50.6% a month earlier. Odds of a 50 basis point move have collapsed to zero, and a rate cut carries no probability at all. Prediction markets are aligned but less emphatic: Kalshi prices a hike at 53% against 44% for no change, and Polymarket at 52% versus 46%.

The implication for digital assets is direct. A tightening cycle resuming in September implies higher real yields, a firmer dollar and reduced appetite for long duration risk. Notably, Bitcoin held near $64,000 on the day of the decision while the S&P 500 fell about 1.5%, the Nasdaq 1.7% and the Dow 2.19%. Crypto outperformed equities on the announcement, which is an atypical response and worth monitoring.

How did $70 million in Bitcoin vanish without anyone touching a device?

An attacker drained 1,196 Bitcoin addresses in 41 minutes on 30 July, taking 1,082.65 BTC worth approximately $70.2 million. Galaxy Research attributed the sweep to a firmware flaw in Coldcard, the Bitcoin-only hardware wallet manufactured by Canadian firm Coinkite.

The mechanism distinguishes this incident from a conventional exploit. A March 2021 firmware integration error routed seed generation to a deterministic software pseudorandom number generator rather than the STM32 hardware random number generator. An attacker able to constrain the device UID, timer state and prior RNG-call history could therefore reproduce candidate seeds offline, without ever accessing the physical device. Candidate keys were then validated against public blockchain data and swept remotely.

The transactions carried identical 30 sat/vB fees with no change outputs and clustered across blocks 960,183 to 960,191, indicating full automation rather than manual execution. The proceeds currently sit in four addresses and have not moved.

Coinkite has acknowledged the failure. CEO Rodolfo Novak issued an apology and stated that the company took full accountability for the firmware bug, conceding that its review process had failed to identify it. Emergency firmware has been released for every affected model: version 4.2.0 or later for Mk3, 5.6.0 or later for Mk4 and Mk5, and 1.5.0Q or later for the Coldcard Q.

One detail is critical for affected holders. Updating firmware alone does not secure existing funds, because the private keys derived from a compromised seed remain unchanged. Affected users must generate an entirely new recovery phrase on the corrected firmware and migrate their BTC to it. Galaxy further warned that future attacks remain possible against any Coldcard-generated address, and that such attacks need not match the transaction pattern observed on 30 July.

The incident lands in an already difficult year for security. Blockchain security firm Blockaid reported that crypto projects lost more than $1 billion to hacks in the first half of 2026.

Still storing serious size on a single device? Compare hardware wallets side by side before you migrate your seed. 👉 See our wallet comparison

What are ETF flows telling us about institutional demand?

Institutional positioning remains mixed, with an increasing tilt toward Ethereum.

US spot Bitcoin ETFs recorded a net outflow of $61.53 million for the week ending 31 July, while spot Ethereum ETFs added $27.42 million and Solana ETFs took in approximately $2.82 million. HYPE products saw around $14.75 million in net outflows, consistent with the token's 11% weekly decline.

The Bitcoin damage concentrated in a single session. Funds shed $265.4 million on 31 July, reversing a $233.1 million inflow the previous day. BlackRock's IBIT accounted for $122.7 million of the outflow, Fidelity's FBTC $54.8 million and Grayscale's GBTC $52.6 million.

The monthly picture is more constructive. July closed with $172.4 million of net inflows for Bitcoin ETFs, ending two consecutive months of outflows after nearly $7 billion left the category across May and June. June alone was the worst month of 2026 at roughly $4.5 billion.

Ethereum products extended their run to four consecutive weeks of net inflows and finished July with $365.2 million, the second positive month of the year. They nonetheless remain approximately $1.1 billion in net outflows for 2026 overall, which frames the move as a recovery rather than a structural reversal.

The aggregate reading: institutions have largely stopped selling, but have not resumed buying with conviction.

Where do Bitcoin and the majors stand right now?

Prices as of midday Sunday 2 August, excluding stablecoins:

Cardano is the clear weekly outperformer at 12.36%, with a 7.31% daily gain suggesting the move is still developing. BNB is the only other major in positive weekly territory. Hyperliquid is the week's largest decliner at 11.02%, though it retains a 104.60% year-to-date gain, and TRON remains the sole large-cap asset positive on the year alongside HYPE.

The year-to-date column is the more significant read. Bitcoin is down 27.84% in 2026 and trades well below the highs above $126,000 recorded earlier this year, while most large-cap altcoins sit 32% to 44% lower.

Technically, Bitcoin is now trading just beneath the 200-week moving average near $63,300, a level Marex analysts identified as the pivot for the current range. A sustained loss of $62,500 opens a path toward the $60,000 liquidation target. To the upside, the 20-day EMA near $64,288 and the 50-day EMA near $64,891 form the immediate resistance band, with the 100-day at $67,481 and the 200-day at $73,133 keeping the medium-term trend corrective.

Trading this volatility? Fees and spreads matter more in a chop than in a trend. 👉 Compare crypto exchanges

Is the CLARITY Act finished for 2026?

Not formally, but the timeline is close to exhausted. As of late July, the Digital Asset Market Clarity Act has cleared the House and the Senate Banking Committee, yet there is no floor vote, no cloture motion and no date on the calendar. Senate Majority Leader John Thune has indicated he does not expect the bill to reach the floor before the summer recess begins around 7 August, with the chamber prioritising nominations and subsequently a Russia sanctions bill.

Marex analysts characterised the delay as the removal of the market's one crypto-specific support, noting that the catalyst intended to unlock institutional buying is now parked. Prediction markets reflect the same assessment. Polymarket odds on 2026 passage fell from above 80% in February to a record low near 24% in mid-July, before settling around 35% as the ethics deadlock hardened.

The legislative groundwork remains in place. The House passed its version on 17 July 2025 by 294 to 134, and the Senate Banking Committee advanced it 15 to 9 on 14 May 2026. Should the bill miss the recess window, most observers treat early August as the practical cutoff, given that a fall vote would compete with appropriations negotiations and the election calendar.

What crypto events are coming next week?

The following dates fall between 3 and 12 August:

• Monday 3 August: ISM survey data. Consensus anticipates a recovery to 54.0 for July, with the prices paid component the relevant line for inflation trajectory.
• Wednesday 5 August: ADP private payrolls and services survey data.
• Friday 7 August, 8:30 AM ET: US non-farm payrolls for July. The week's primary catalyst, and the Fed's key labour input ahead of the September meeting. June printed at 57,000 jobs against forecasts of 110,000, following a downwardly revised 129,000 in May. A strong reading raises September hike odds and pressures risk assets; a weak one has the opposite effect.
• Friday 7 August: The Senate summer recess begins around this date, effectively closing the CLARITY Act's 2026 window absent rapid movement.
• Next week, exact day to be confirmed: The xrpld 3.3.0 release for the XRP Ledger is expected, carrying five proposed amendments, including two features previously withdrawn after researchers identified bugs.
• Tuesday 11 August: Pi Network mainnet upgrade deadline.
• Wednesday 12 August, 8:30 AM ET: US CPI for July. Combined with payrolls, this pair effectively determines the September decision.
• Wednesday 12 August: Aptos unlocks approximately 11.31 million APT, around 0.54% of total supply, at 2 AM UTC.

Further out, the next FOMC decision is scheduled for Wednesday 16 September at 2:00 PM ET.

What should traders watch?

Three variables, in order of significance.

1. Friday's payrolls print. It is the largest single input into the September hike question, which is in turn the dominant driver of crypto direction. A softening labour market strengthens the case against tightening and relieves pressure on risk assets. A resilient one validates the three dissenters.
2. The $62,500 level. Bitcoin has spent the week defending the low $60,000s and now sits marginally below the 200-week moving average. Losing $62,500 opens a retest of $60,000, while reclaiming the 50-day EMA near $64,900 would represent the first credible sign of returning momentum.
3. ETF flows on Monday and Tuesday. The 31 July outflow was partly attributable to month-end rebalancing. Continued redemptions into the new month would indicate genuine repositioning rather than a calendar effect.

The broader setup is unchanged. Market commentary describes an asset class that absorbed sustained negative news through July but remains cautious into a historically choppy August, with rate hike expectations and labour data the principal risks. Bitcoin's ability to withstand a hawkish Fed, a $70 million wallet exploit and a stalled regulatory bill within a single week while declining only 2% is the strongest evidence available that current levels reflect substantial existing pessimism.

The crypto market is doing something unusual today: almost nothing. Hourly moves across the top 15 assets sit within a few hundredths of a percent of flat, and 24-hour changes cluster between minus 2% and plus 3%. That is a market holding its breath rather than one finding direction.

Zoom out, though, and the year-to-date column tells a far harsher story. Bitcoin is down 28%. Most large caps have lost between a third and half their value since January. And exactly three assets in the top 15 are still in the green for 2026.

Here is where every major coin stands right now.

What Is the Crypto Market Doing Right Now?

$Bitcoin trades at $63,018, up 0.06% on the hour, down 1.23% on the day and down 1.55% on the week. Market cap sits at $1.26 trillion against $22.73 billion in 24-hour volume.

That volume figure is the number worth pausing on. Turnover equivalent to roughly 1.8% of market cap in a day is thin for Bitcoin, and thin volume in a downtrend usually means sellers have stopped panicking rather than buyers have arrived. It compresses ranges, which is exactly what today's price action shows.

$Ethereum is at $1,865, up 0.10% on the hour and down 0.90% on the day, but positive over the week at plus 0.48%. Its $225.07 billion market cap now sits at less than a fifth of Bitcoin's. The year-to-date figure is where the damage shows: minus 37.14%, meaningfully worse than Bitcoin's minus 27.99%.

That gap is the defining structural fact of this market. Ethereum has underperformed Bitcoin by nine percentage points in seven months, and the rest of the smart contract sector has done worse still.

Which Assets Are Actually Up in 2026?

Only three names in the top 15 are positive year to date, and they have nothing in common.

• Hyperliquid ($HYPE) at $52.03 is the outright winner, up 104.60% this year with a $13.13 billion market cap. It is also today's biggest loser, down 4.89% on the day and 9.45% on the week. A perpetuals DEX token doubling in a market where Bitcoin fell 28% is a genuine outlier, but the current weekly slide suggests some of that outperformance is being handed back.
• TRON ($TRX) at $0.3274 is up 15.20% year to date, the only large cap outside HYPE with a meaningful gain. It is flat today, down 0.09% on the hour and up 0.36% on the day. TRON's stablecoin settlement volume gives it a revenue base that is largely indifferent to speculative appetite, which is precisely why it holds up when speculation dries out.
• UNUS SED LEO at $9.75 is up 1.50% for the year, effectively flat. Note its 24-hour volume: $404,110 against an $8.97 billion market cap. That is an exchange token that barely trades, so its price stability reflects illiquidity more than demand.

Why Are Privacy Coins Holding Up Better?

Zcash and Monero are the quiet story in this table.

Zcash ($ZEC) trades at $463.33, up 0.70% on the day and down only 9.59% year to date. Monero ($XMR) sits at $362.83, up 3.39% on the day, the strongest 24-hour move in the top 15, and down 16.25% for the year.

Set those against Cardano at minus 48%, XRP at minus 42% and Solana at minus 41%, and the divergence is stark. Privacy assets have lost roughly a third of what the large-cap alt sector has given up.

Two explanations compete. The charitable one is that privacy demand is genuinely uncorrelated with risk appetite, so these assets have a buyer base that does not disappear when the Fed turns hawkish. The blunter one is that both have small floats, low volumes and shallow order books, so they simply move less in either direction. Monero's $96.57 million in daily volume, the lowest of any non-stablecoin in the top 15 apart from LEO, supports the second reading.

Where Do XRP, Solana and Cardano Stand?

This is the damage zone of the 2026 market.

• $XRP at $1.06 is down 0.85% on the day, 2.54% on the week and 42.30% year to date, with a $66.39 billion cap. The psychological problem is obvious: the dollar level is now the story, and a break below it would be the first sustained sub-$1 period in over a year.
• $Solana at $72.79 is down 0.91% on the day and 41.52% for the year, with $42.29 billion in market cap and $1.22 billion in daily volume. Volume relative to cap remains healthier than most of this list, which means Solana is still being actively traded rather than abandoned.
• $Cardano at $0.1723 is the worst performer in the top 15 for 2026 at minus 48.23%. It is also, curiously, the best seven-day performer at plus 6.38%, up 1.44% on the day. That combination is typical of assets that have fallen far enough to attract mean-reversion buyers without changing anything fundamental.
• $Chainlink at $8.08 sits at minus 33.66% year to date, down 2.01% on the day. BNB at $579.68 is down 32.85% for the year but up 2.56% on the week, one of the few large caps with a positive weekly print. Dogecoin at $0.06975 is down 40.53% year to date and essentially flat today.

What Should Traders Watch Next?

Three things stand out from this snapshot.

First, compression. Hourly changes near zero across the entire top 15 rarely persist. Ranges this tight resolve, and the direction of that resolution usually follows the prevailing trend, which is currently down.

Second, the rotation pattern. Money that stayed in crypto through this drawdown went to assets with revenue (TRON), assets with a genuine product cycle (Hyperliquid) or assets with a use case detached from speculation (Zcash, Monero). It did not go to the 2021 generation of layer ones.

Third, the weekly greens. BNB at plus 2.56%, Cardano at plus 6.38% and Ethereum at plus 0.48% are the only meaningful positive weekly prints. That is a narrow base for any rebound thesis, but it is the first time in several weeks that anything outside the privacy sector has posted a positive week.

For Bitcoin specifically, the level that matters has not changed: the $60,000 to $62,000 band. Today's $63,018 sits directly above it, and everything in the table above is ultimately a derivative of whether that floor holds.

Crypto just closed one of the ugliest earnings weeks in its short public-market history. Strategy, the largest corporate holder of Bitcoin on the planet, reported an $8.22 billion net loss for the second quarter. Coinbase followed with a $359 million loss and its third consecutive revenue miss. And Bitcoin, the asset underneath both stories, spent the week sliding under $63,000.

None of this happened in isolation. A hawkish Federal Reserve, a 27% Bitcoin drawdown since January, and a market structure bill stuck in the Senate have combined into the most defensive backdrop crypto has seen since 2022. Here is what actually happened, and what matters from here.

What Exactly Did Strategy Report?

The headline number is enormous, but it needs context. Strategy posted an operating loss of $8.33 billion for Q2 2026, driven almost entirely by an $8.32 billion unrealized markdown on its digital assets under fair-value accounting. Net loss came in at $8.22 billion, or $24.45 per diluted share.

Twelve months earlier, the same accounting treatment produced a $14.05 billion unrealized gain and $10.02 billion in net income. That is roughly an $18 billion swing in reported earnings, with no change to the underlying business model.

The software business, almost forgotten at this point, actually grew. Revenue rose 6.9% year over year to $122.4 million, with gross margin at 66.6%.

Michael Saylor framed the quarter as a phase of muted sentiment rather than a structural problem, and reiterated the company's push to build out what it calls Digital Credit as a new asset class.

Is Strategy's Bitcoin Position Actually in Danger?

This is the question that matters, and the answer is more nuanced than the headline suggests.

Strategy held 843,775 $BTC as of 26 July, up 25% since the start of 2026. Those coins carry an aggregate acquisition cost of roughly $63.69 billion and were worth about $54.77 billion at the time of reporting. Average cost basis sits near $75,476 per coin, which puts the position roughly $10,700 underwater per Bitcoin and around $8.9 billion below cost in total.

Crucially, that loss is unrealized. It reflects mark-to-market movement, not selling. The company did sell approximately $218.4 million of Bitcoin this year, but that was to fund preferred stock dividends rather than a forced unwind.

The balance sheet work is where the real story sits. Strategy raised $17.06 billion through at-the-market share offerings this year, cut convertible notes from $8.21 billion to $6.71 billion via a discounted $1.5 billion repurchase, and built a dollar reserve of $3.75 billion. Management says that reserve covers about 2.1 years of preferred dividends and interest under current policy.

Translation: the company is not in immediate distress. But its capital structure has become complex enough that investors are now scrutinising the dividend machine as closely as the Bitcoin stack.

Why Did Coinbase Disappoint Again?

Coinbase reported revenue of $1.22 billion, down 18.5% year over year, against roughly $1.30 billion expected. GAAP loss came in at $1.36 per share versus consensus near breakeven. Shares fell around 6% after hours to about $153.

The problem is straightforward: total crypto market capitalisation fell 11% quarter over quarter and spot trading volumes dropped 25%. Transaction revenue landed at $599 million, subscription and services at $555 million, and stablecoin revenue slipped to $292 million. Monthly transacting users fell to 7.6 million from 8.7 million a year earlier, while assets on platform dropped to $245.9 billion from $425 billion.

The bright spots were real, though. Coinbase took a record 10.3% share of global crypto trading volume, its third straight quarterly high. Prediction markets revenue more than doubled quarter over quarter and crossed $100 million annualised. Adjusted EBITDA stayed positive at $207.8 million, the fourteenth consecutive positive quarter. Bitcoin-linked transactions now account for just 12% of revenue, down from more than half historically.

Brian Armstrong summarised the pitch bluntly, saying the company is no longer just a bet on the Bitcoin price. The market, for now, is not paying for that story.

What Is the Fed Doing to Crypto Right Now?

Macro is the pressure that turned a soft quarter into a bad one.

The FOMC held rates at 3.50% to 3.75% at its 29 July meeting, but the tone was the hawkish part. Three regional Fed presidents dissented in favour of an immediate hike, and Chair Kevin Warsh made clear that inflation above 2% is not acceptable. With inflation running near 4.1%, a cut is off the table and a September hike is now a live debate.

For crypto, tighter liquidity is a direct tax on leverage. Holding leveraged positions gets more expensive, risk appetite compresses, and capital rotates toward cash and short-duration paper. DWF Labs managing partner Andrei Grachev called the hawkish hold the least favourable outcome available and argued institutional positioning should turn defensive.

Regulation has not helped either. Odds on the CLARITY Act passing collapsed toward the high 20s on prediction markets after the Senate missed its August deadline, even as a 616-page merged committee draft circulated.

Where Does Bitcoin Go From Here?

$Bitcoin is trading in the low $63,000s, down from roughly $88,400 at the end of 2025 and far below the October 2025 peak near $126,000.

The technical picture is contested. Price is pressing against a descending trendline from that 2025 high, with all four weekly EMAs sloping downward overhead. The 20-week sits near $69,445 as the first real ceiling. On the downside, the $60,000 to $62,000 band has held through repeated tests since the June low and is the level bulls need to defend. Lose it, and the June low near $57,500 comes back into play.

Seasonality is not on Bitcoin's side. July closed up around 9%, roughly in line with its historical average, but in the two most comparable bear-cycle years, 2018 and 2022, August erased those gains entirely.

The counterargument is that a restrictive Fed is now fully priced, ETF flows have shown signs of stabilising, and a weekly RSI divergence is flashing the opposite of what the macro tape suggests. Analysts looking at the same Fed decision have reached genuinely different conclusions, which is usually a sign the market is at an inflection rather than in a trend.

Galaxy Research says a third wave of thefts from Coldcard Bitcoin wallets has pushed observed losses to roughly 1,367 BTC across 4,585 addresses.

Lawsuits, privacy complaints, secret recordings, and government investigations have put Meta’s AI glasses under scrutiny.

The Binance founder urged holders to spread funds across multiple wallets as Galaxy Research put the toll from the Coldcard exploit at roughly $70 million—nearly double the initial estimate.

Gallup says Americans are growing more skeptical of artificial intelligence, with rising concerns about job losses, businesses' use of the technology, and the technology’s growing impact.

The Nano Banana tool let users generate fake satellite scenes from a text prompt, alarming investigators who rely on Google Earth to verify breaking news and atrocities.

The timing of these inflows is particularly significant given broader market conditions.

Bloomberg’s Eric Balchunas shares his take on a $89 million drain from Coldcard hardware wallets and how it provides the ultimate bull case for regulated spot Bitcoin ETFs.

Ripple engineering director highlights critical step for XRP Ledger node operators.

A 68% transfer surge pushes 4 trillion SHIB overnight, fueling a calculated whale distribution as the Shiba Inu coin tests the critical $0.000005 breakout.

Dogecoin contributor urges urgent step that could protect funds from risk.

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.

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.

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.

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 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.

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.

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.

TL;DR

• Bitcoin’s Percent Unrealized Loss has declined to 35.2%, down from a recent peak of 42.2%.
• The metric has moved below the 40% deep-stress band, although it remains above the 20% warning level.
• Historical cycles show the first move above 40% has often been followed by extended consolidation before recovery or capitulation.
• The chart suggests investor stress has eased, but on-chain indicators are not yet signaling a full market reset.

Bitcoin investors are showing signs of recovering from one of the market’s recent periods of elevated stress, with on-chain data indicating that the percentage of coins sitting at an unrealized loss has fallen below a key historical threshold.

According to the latest CryptoQuant data, Bitcoin’s Percent Unrealized Loss currently stands at 35.2%, meaning roughly one-third of the tracked Bitcoin supply is being held below its acquisition price.

The reading represents an improvement from late June, when the metric climbed to 42.2%, briefly pushing above the historically important 40% deep-stress zone. The indicator later eased to 30.4% around July 21 before rebounding to its current level.

Although the latest figure points to improving market conditions, analysts note that unrealized losses remain elevated compared with healthier phases of previous market cycles.

On-Chain Stress Indicator Moves Out of the Danger Zone

The attached chart tracks Bitcoin’s Percent Unrealized Loss against the asset’s long-term price performance.

The purple area represents the share of circulating Bitcoin supply currently held at an unrealized loss, while the white line tracks Bitcoin’s market price over multiple market cycles.

Historically, readings above 20% have signaled growing market stress, while moves beyond 40% have coincided with deeper bear-market conditions. The 60% threshold has generally marked periods of capitulation, when widespread selling pressure and investor panic have dominated the market.

The latest decline to 35.2% places Bitcoin back below the deep-stress zone, suggesting that some of the pressure experienced during recent price weakness has eased.

Historical Cycles Show Why the 40% Level Matters

The chart highlights several previous market cycles where unrealized losses climbed above the 40% threshold before extending toward 60% during prolonged bear markets.

During the 2014–2015, 2018–2019 and 2022 downturns, the first move into the 40% region did not immediately mark the market bottom. Instead, Bitcoin typically entered a period of volatile consolidation before either recovering or experiencing a final wave of capitulation.

Unlike those earlier cycles, the current reading has retreated below 40% relatively quickly, indicating that selling pressure has moderated rather than intensified.

From a technical perspective, the chart reveals the unrealized loss metric has fallen back below the historical deep-stress threshold. Current levels remain well below the 60% zone that has historically accompanied widespread panic selling. Many holders continue to face negative returns.

On-Chain Data Suggests Caution on Bitcoin Rather Than Panic

Unrealized loss metrics are widely used by on-chain analysts to assess investor sentiment because they measure the proportion of Bitcoin holders currently sitting on paper losses.

High readings generally reflect deteriorating market confidence, while declining values often indicate that prices have recovered enough to reduce the share of underwater investors.

However, on-chain metrics are rarely used in isolation. Analysts typically combine unrealized loss data with exchange flows, long-term holder behavior, realized losses, and derivatives positioning to build a broader picture of market conditions.

For now, Bitcoin appears to have stepped back from the deeper stress zone that emerged in late June. While that suggests improving sentiment, the indicator remains above the longer-term comfort zone, meaning investors will likely continue watching whether the metric stabilizes below 40% or begins climbing again if market weakness returns.

The post Bitcoin’s Unrealized Loss Drops Below 40% Stress Zone, Analysts Say Risk Hasn’t Fully Passed 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 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.

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.

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.

The post Strategy Bitcoin Sales Plan Expands After $8.2B Quarterly Loss appeared first on Blockonomi.

White House teleprompter operator Gabriel Perez is no longer employed by the federal government after being placed on unpaid leave over allegations that he used insider knowledge to bet on President Donald Trump’s speeches, according to another official.

Speaking on condition of anonymity, the official said that Perez had left his government job but did not say whether he resigned or was fired.

Inside the Allegations

The White House had suspended Perez earlier this month following an ABC News report that alleged he made more than $100,000 through bets on the online prediction market Kalshi. The report said the wagers were based on advance knowledge of what Trump would say during major speeches, including the State of the Union address earlier this year.

The allegations drew a sharp response from the White House. Press secretary Karoline Leavitt described the reported insider trading as “deeply unfortunate and, frankly, a disgrace.” Kalshi also responded after the report was published.

Robert Denault, the company’s lawyer and head of enforcement, said in a post on X that its surveillance team detected the trades, investigated them, and referred the matter to the US Commodity Futures Trading Commission (CFTC). Denault’s statement did not identify Perez by name.

Legal Battles

Kalshi has faced legal hurdles this year in Massachusetts, Michigan, Nevada, and Washington. At the same time, it has also tightened its own rules. In April, the prediction market suspended three political candidates for betting on elections they were contesting after determining that the trades amounted to political insider trading under its CFTC-approved rules.

An insider trading case on Polymarket also surfaced that same month. Federal prosecutors charged US soldier Gannon Ken Van Dyke with allegedly betting on whether former Venezuelan President Nicolás Maduro would be removed from power. Authorities said Van Dyke, who worked on the operation targeting Maduro, made about $400,000 from the trades.

The legal battle over prediction markets has also taken a new turn. This week, a federal judge temporarily blocked Minnesota from enforcing a new law that would have banned prediction markets in the state. The ruling gave a temporary win to Kalshi, Polymarket, and the CFTC as the case moves forward.

Judge Katherine Menendez said the law is likely preempted by the federal Commodity Exchange Act because many event contracts may qualify as federally regulated swaps. The law, signed by Governor Tim Walz in May, was set to take effect on Saturday. The judge said the injunction could later be narrowed if needed.

The post Teleprompter Operator Accused in Kalshi Betting Case Is No Longer a Federal Employee appeared first on CryptoPotato.

Data shared by Lookonchain earlier today suggests that Trump Media, the entity behind the Truth Social media platform, majority-owned by the Donald J. Trump Revocable Trust, has sold over $165 million worth of bitcoin.

This was the second substantial sale made by the entity in recent months after it had splashed over $1 billion at prices near the top last year to accumulate 11,542 units.

The on-chain analytics company noted that the latest offload was for 2,628 BTC after it had transferred the stash to crypto.com. This continued a streak that began earlier this year.

Previously, the entity had spent $1.37 billion to acquire 11,542 BTC at an average price of $118,522. Since its entry level was very close to bitcoin’s very top marked just under a year ago, this automatically means that its sales have been completed at prices well below that.

CryptoPotato reported the previous BTC disposal in May, when wallets linked to Trump Media sold another substantial batch of 2,650 BTC for $205 million.

Lookonchain’s data concurs that the entity has sold a total of 7,281 BTC since it began disposing of its assets, at an average price of under $75,000. This means that its total losses have grown to $555 million.

It looks like Trump Media sold another 2,628 $BTC($165.07M).

Trump Media bought 11,542 $BTC($1.37B) at an average price of $118,522, then started selling 7 months ago, selling a total of 7,281 $BTC ($545M) at an average price of $74,855.

Trump Media is now down a total of $555M… pic.twitter.com/9xx0MTbweg

— Lookonchain (@lookonchain) August 2, 2026

Aside from the continuous controversial decisions toward the crypto industry from the POTUS-linked companies, this move builds on a recent worrisome trend about BTC treasury firms deciding to sell during times of distress.

As we reported last week, several public companies have shifted their strategies, with some selling BTC holdings while others have paused buying the asset indefinitely.

The post Trump Media Sells Another $165M in Bitcoin, Booking a Fresh Loss appeared first on CryptoPotato.

After two consecutive painful months in which they lost billions of dollars, the spot Bitcoin ETFs finally turned the page in July, but inflows were still modest.

Meanwhile, the exchange-traded funds tracking the performance of the largest altcoin enjoyed the month more, attracting over 2x more fresh capital.

Bitcoin ETFs in July

March and April were quite bullish for the spot BTC ETFs as the financial vehicles attracted well over $3 billion. However, the trend changed violently in May when they lost $2.43 billion. June became the worst month on record, as investors pulled out just over $4.5 billion. In total, the net outflows for May and June stood at nearly $7 billion, and the cumulative total flows dropped from over $58 billion to $51 billion.

July started more positively, with almost $200 million in net inflows during the first full week. Another $76 million followed during the second, and a more modest $34 million in the third. The trend was obvious as the initial high numbers gradually declined, aligning with the underlying asset’s controversial and sporadic price performance and ultimately leading to a very modest increase throughout the month.

The last week in July was once again in the red, with investors pulling $61.53 million out of the funds. Friday was the most painful day, as the total net outflows stood at over $265 million. As such, the month ended with $172.42 million. On one hand, green finally overcame the red wave, but on the other, the number was nowhere near enough to offset some of the recent losses.

ETH ETFs Do Better

The Ethereum ETFs entered July after a similarly painful two-month streak, in which they lost $541 million in May and another $529 million in June. However, investors were more persistent, and the actual net inflows for July were at a more respectable $365.17 million, thus outpacing the BTC ETF flows by over 2x.

Moreover, the ETH ETFs closed all four full weeks of July in the green, including the last one, which saw only one day in the red. Perhaps this investor behavior is among the reasons behind the underlying asset’s major resurgence in July. As reported earlier, ETH ended the month with a substantial 20% increase, making it the best in precisely a year.

All eyes are now on August, which hasn’t been ETH’s most favorable month historically, but there are some major double-digit exceptions.

The post Bitcoin vs. Ethereum ETF Battle: Who Won July? appeared first on CryptoPotato.

The spot exchange-traded funds tracking Ripple’s cross-border token continue with their impressive performance in times of market uncertainty, and saw only one day of no reportable action in the past week, unlike the previous ones.

July also ended in the green for the funds, meaning that only one out of the nine months they have been active was in the red.

The Good Weekly and Monthly

Data from SoSoValue shows that Monday and Wednesday were quite modest in terms of net inflows. On both days, the ETFs attracted just under $600,000. However, the green streak continued and accelerated at the end of the business week, with $6 million in net inflows on Thursday and another $7.7 million on Friday.

Thus, the week ended with $14.86 million in the green, making it the best since the one that ended on July 2, when the funds attracted $17.19 million. On a monthly scale, investors poured in $27.29 million into the spot XRP ETFs.

What’s even better is that the funds have reached another all-time high in terms of cumulative total net inflows, at over $1.5 billion as of Friday’s close. Bitwise’s XRP has extended its lead over Canary Capital’s XRPC, with $511 million in net inflows compared to $467 million for the latter.

The Bad

Although July indeed ended in the green, the actual net inflows were not all that impressive. The $27.29 million places July as just the second-worst month, beating only January when investors inserted $15.59 million into the funds.

In contrast, June was a lot more positive, with the net inflows standing close to $60 million. May was even better, with almost $132 million. The all-time high from November at $666.61 million remains untouchable.

The Ugly

Although this improved at the end of the month, July saw the most days with no reportable action in terms of net flows. Precisely half of the trading days (11 out of the 22) saw no flows, according to SoSoValue, which, aligned with the more modest $27.29 million in net inflows, suggests dwindling interest in the funds.

Separately, the underlying asset’s price performance continues to disappoint despite the numerous positive developments in the broader Ripple ecosystem. Although it managed to defend the $1.05 support during the weekend, XRP is still below $1.10, and it’s down by more than 3% on a monthly scale. What’s even more worrisome is the fact that August has been a particularly painful month for the asset historically.

The post Ripple (XRP) ETF Monthly Recap: The Good, The Bad, and the Ugly appeared first on CryptoPotato.

There’s rarely a big altcoin gainer during the current market conditions, in which every breakout attempt is halted in its tracks. This is particularly true for weekend moves, as the market tends to freeze on Saturday and Sunday.

The latest example came in the past 36-48 hours. Even though the situation in the Middle East continues to develop quickly, with Trump claiming a Hormuz Strait deal is in the making and Iran refuting his statement once again, BTC and most altcoins have remained sluggish.

However, Cardano’s ADA has emerged as the clear winner this weekend, gaining over 9% and jumping past $0.19 hours ago for the first time in almost a month. Here’s the most likely reason and what could follow next.

Whales Are Buying

Since we are excluding a rally from the broader market, perhaps the most obvious reason behind ADA’s impressive resurgence over the past day has been the recent behavior of whales. These large market participants, who can influence the underlying asset’s price moves with big purchases or sales, have gone on an accumulation spree.

Santiment Intelligence data shared by Ali Martinez shows that whales have scooped more than 240 million ADA in less than a week. Their total holdings went to 14.55 billion before retracing slightly.

The analyst concluded that this substantial acquisition has helped fuel the asset’s notable 22% surge in the past five days, while the rest of the market stagnates.

Whales loaded up. Cardano took off.

Over 240 million $ADA have been accumulated in the past five days, helping fuel a 22% price surge per data from @SantimentData. pic.twitter.com/6Q6P6luBZn

— Ali Charts (@alicharts) August 2, 2026

Major Breakout Knocking on the Door

Another analyst going under the X moniker, Gerla, noted that ADA is “knocking on the door of a major breakout.” Their chart shows that ADA is fighting for the $0.19-$0.20 resistance level now, which capped its previous breakout attempt last month.

However, the bullish RSI divergence and the completion of an inverse head-and-shoulders suggest that ADA finally has the strength to overcome that obstacle and aim at the next one, positioned at around $0.30.

ZAYK Charts was even more bullish, indicating that a successful surge past the first resistance level could pave the way for another leg up toward $0.50.

The post Why Is Cardano (ADA) Up 9% Today While the Crypto Market Stalls? appeared first on CryptoPotato.