The high Russian casualties may weaken its military objectives, potentially shifting the conflict dynamics and impacting regional stability.

The post Ukraine reports July as one of deadliest months for Russian forces with 42,860 casualties appeared first on Crypto Briefing.

Malaysia's rise as an AI hub could shift regional tech dynamics, attracting global investments and reshaping Southeast Asia's digital landscape.

The post Malaysia emerges as key AI hub amid data centre boom appeared first on Crypto Briefing.

Iran's warning heightens regional instability, potentially derailing diplomatic efforts and impacting market confidence in future US-Iran deals.

The post Iran warns US, Israel of costly retaliation for hostile actions: Iran International appeared first on Crypto Briefing.

The revised timing for China's economic data release could amplify market volatility, influencing global trading strategies and monetary policies.

The post China revises timing for July economic data release to 3 p.m. Monday appeared first on Crypto Briefing.

The push for strict hijab enforcement may signal Iran's regime tightening control, potentially reducing prospects for significant political change.

The post Iranian editor urges strict enforcement of hijab law amid ongoing tensions appeared first on Crypto Briefing.

Bitcoin Magazine

Edelman Financial, Tudor Investment Reveal Significant Bitcoin Holdings 

Edelman Financial Engines has disclosed a $34 million position in spot Bitcoin ETFs — a stake that now exceeds some of the firm’s other holdings in major tech companies. 

While the position is still tiny in the investment advisor’s portfolio, it is still larger than its $25 million position in Amazon. 

The position — held in BlackRock’s iShares Bitcoin Trust and Grayscale’s flagship product — tracks closely with the public views of its founder, Ric Edelman. 

Edelman has been advocating for Bitcoin ETFs since 2019, years before the SEC approved spot products in January 2024. He also founded the Digital Assets Council of Financial Professionals, an organization built to educate financial advisors on crypto and blockchain technology. 

And Edelman Financial isn’t the only one: In a filing submitted this afternoon, Tudor Investment Corporation, the firm run by legendary macro trader Paul Tudor Jones, reported owning 688,529 shares of IBIT as of June 30, valued at $22.9 million. 

That’s up from the 579,083 shares Tudor reported the previous quarter. 

It’s worth remembering that few investors have built a career reading inflation cycles and their historical patterns as successfully as Jones, making the size of the add notable in its own right.

This post Edelman Financial, Tudor Investment Reveal Significant Bitcoin Holdings  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Abu Dhabi Sovereign Wealth Funds Keep Big Bitcoin Positions 

Bitcoin is the most important asset in two of Abu Dhabi sovereign wealth funds, according to regulatory filings. 

Abu Dhabi’s Mubadala Investment Company disclosed Friday that it held a $490 million stake in BlackRock’s iShares Bitcoin Trust — the second-largest single holding across its entire 13F portfolio. 

And a Thursday filing from the Abu Dhabi Investment Council, another state-run fund, revealed a $273.6 million position in the popular Bitcoin exchange-traded fund. The stake is the biggest position in its portfolio. 

Both wealth funds’ position in Bitcoin is unchanged since last quarter. 

Earlier this year, blockchain analytics firm Arkham Intelligence attributed approximately 6,782 Bitcoins — worth roughly $453.6 million at the time of its analysis — to wallets connected to Bitcoin mining activity linked to the UAE’s Royal Group.

The findings highlight a distinction between how the UAE has built its bitcoin position compared with other governments known to hold large amounts of the asset. Countries such as the United States hold substantial Bitcoin reserves that largely originated from law enforcement seizures. 

The UAE’s holdings, by contrast, stem primarily from domestic mining activity rather than confiscated assets.

Since the SEC approved a slew of Bitcoin funds in January 2024, major firms have been able to buy exposure to the asset via shares of the regulated vehicles that trade on stock exchanges. 

BlackRock’s IBIT is the most successful crypto ETF: The fund has received more cash than any other crypto ETF and currently has $47.3 billion in assets under management. 

Pension funds and U.S. states have all bought exposure to Bitcoin via the ETFs, along with more traditional investments like tech stocks and other U.S. equities.

This post Abu Dhabi Sovereign Wealth Funds Keep Big Bitcoin Positions  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Bitcoiners Warned After French Tax Authority Confirms Data Breach Affecting Hundreds of Thousands

Bitcoiners have been warned after France’s tax administration confirmed that hackers breached its information system, exposing sensitive financial and personal data belonging to hundreds of thousands of taxpayers and businesses.

Writing on X on Friday, Bitcoin developer Jameson Lopp said the leak was “more bad news for Bitcoiners living in the leading country for wrench attacks.”

Lopp has created a tracker counting wrench attacks — when physical violence is used to steal crypto — across the world. A large amount happens in France, where data has been leaked before. 

The news comes one day after hardware wallet manufacturer Trezor announced a data breach exposing customer data. 

Cybersecurity researchers at FrenchBreaches, who reviewed samples of the leaked data, reported that the affected records break down to roughly 392,867 individuals and 285,570 businesses. 

Among the individuals, an estimated 26,805 have a reported annual taxable income of €100,000 or more, 386 exceed €1 million, and eight exceed €10 million. The hacker is said to be offering the full dataset for sale for several thousand euros.

The breach first surfaced publicly on August 12, when a hacker using the alias “ZeroBytes” posted on a cybercrime forum claiming to have infiltrated internal DGFiP servers and obtained VPN credentials that unlocked an internal lookup tool covering millions of taxpayers. 

According to the hacker’s own account, the extraction was interrupted before it could be completed, leaving what they described as only a partial dataset of 678,438 records.

The exposed sample reportedly includes highly sensitive information: full legal names, dates and places of birth, home and mailing addresses, marital status, number of dependents, internal tax identification numbers, reference taxable income, individual withholding tax rates, phone numbers, email addresses, and records of past correspondence with tax officials.

Security analysts warn that this combination of identity, contact and financial data could fuel highly convincing phishing campaigns impersonating tax authorities, as well as identity theft and fraud schemes tailored to victims’ income levels or family circumstances.

2025 was the worst on record for wrench attacks (crypto targeted kidnappings), with around 55 reported globally last year, according to TRM Labs. Lopp’s tool counted over 70 throughout last year. And this year is already looking bad, according to the tracker: 54 attacks have been documented so far. 

Wrench attacks made headlines last year when crooks kidnapped David Balland, co-founder of crypto hardware wallet brand Ledger, and his wife in France.

Criminals held the pair for around 24 hours before they were rescued by the French authorities.

This post Bitcoiners Warned After French Tax Authority Confirms Data Breach Affecting Hundreds of Thousands first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Citi CEO Wants ‘Good’ Crypto Clarity Act To Get Passed

Citigroup CEO Jane Fraser has said that while some improvements need to be made to the crypto Clarity Act, the bank wants a “good bill to go through.”

The banking executive said that the bank was a “leader in digital assets” so wanted “safe adoption” of the technology. 

Lawmakers were trying to get a vote on the Clarity Act through before splitting for recess last week but ran out of time. A vote will now take place in September. 

“We want to have good regulation that supports innovation and also encourages the safe adoption of the capabilities of digital assets,” Fraser said. 

“I think it would be excellent for the system.”

A sticking point for the bill has been from the banking lobby, who raised concerns over crypto companies paying customers yield for holding stablecoins. U.S. banks have said they could lose customers if crypto exchanges offer more attractive products for their deposit base.

Fraser reiterated the point on Friday, saying that small banks play an important role in the U.S. and a reward system on deposits could have a “detrimental effect.” But she added: “We have not given up on pushing to get some improvements made to the bill, but we would like to see a good bill go through.”

America’s biggest crypto exchange, Coinbase, pulled support for the bill in January after clashing with banking chiefs who said that earning yield on stablecoins should be banned. 

The Clarity Act was passed last year by the House of Representatives but has been deadlocked since 2026. 

Still, the bill has been worked on by both Republicans and Democrats — despite crypto legislation being something pushed by pro-crypto President Donald Trump. 

Major institutions, including Fidelity and Goldman Sachs, as well as crypto lobby groups and politicians, have said the revised bill works in its current form. 

This post Citi CEO Wants ‘Good’ Crypto Clarity Act To Get Passed first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Bitcoin Treasury Strategy Bites Back After MSCI Announces Possible Index Removal

Bitcoin treasury Strategy has said it “doesn’t need” Morgan Stanley Capital International after the index provider said it could remove the Bitcoin company from its Global Investable Market Indexes.

MSCI said in a consultation that it was consulting on a plan to define “Non-Operating Companies” and make them ineligible for its Global Investable Market Indexes (GIMI).

The removal of such companies would exclude companies like Strategy from indexes visible to a large pool of institutional investors. MSCI said it was weighing up the decision as Strategy is primarily known for holding a large amount of Bitcoin rather than running a traditional operating business.

Writing on X Friday, Strategy wrote: “Digital assets are assets. Index providers should measure markets, not decide which assets companies are allowed to own. MSCI’s proposal puts it out of step with regulators, markets, and its own customers.”

It added: “Bitcoin doesn’t need MSCI. Neither does Strategy.”

The consultation also included Japanese Bitcoin treasury Metaplanet, which trades on the Tokyo Stock Exchange, and uranium investment company Yellow Cake. 

Based on financial filings as of May 2026, Strategy and Metaplanet already meet the criteria for removal under MSCI’s proposed rule. 

If MSCI adopts the proposal as currently written and their financial profiles remain unchanged, both companies would be deleted from the MSCI ACWI IMI Index as part of the November 2026 Index Review, triggering forced selling by index-tracking funds and loss of future passive inflows.

MSCI is still gathering feedback on the proposal through September 30, and has explicitly said the consultation “may or may not result in changes to MSCI indexes” — meaning the rule could be modified, delayed, or dropped entirely based on responses from affected companies and market participants. Even if adopted, any changes to a company’s underlying financials before the review could also shift the result.

Nasdaq-listed Strategy — formerly MicroStrategy — started buying Bitcoin in August 2020 as a way to generate better returns for its shareholders during the COVID-19 pandemic.

It has since spent around $63.3 billion on Bitcoin and is the largest corporate holder of the asset. Investors can buy its shares to gain exposure to the leading cryptocurrency without having to buy and hold digital coins themselves. 

Strategy spawned a long-list of copycat firms which have bought not only Bitcoin, but other cryptocurrencies to boost their stock prices. 

Strategy’s stock (MSTR) was trading nearly 3% lower Friday at nearly $95 per share. MSTR year-to-date has dropped by nearly 40%. 

This post Bitcoin Treasury Strategy Bites Back After MSCI Announces Possible Index Removal first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

President Donald Trump and the heads of the SEC and CFTC are expected to meet crypto and prediction-market executives at the White House next week as the industry’s biggest legislative priority faces dwindling odds of becoming law this year.

According to reports, the Aug. 19 gathering is expected to include executives from Coinbase, Andreessen Horowitz, Ripple, Chainlink, Kalshi and Paradigm, along with representatives from the Digital Chamber. Executives from Kraken, Gemini, the New York Stock Exchange and Nasdaq have also been invited.

Trump and Commodity Futures Trading Commission (CFTC) Chair Michael Selig are among those expected to participate, while Securities and Exchange Commission (SEC) Chair Paul Atkins is also set to attend. The final attendance list remains subject to change.

The meeting comes less than a month before the Senate is scheduled to take its next procedural step on the Digital Asset Market Clarity Act, legislation designed to establish federal rules for crypto markets and divide oversight between the SEC and CFTC.

It also arrives as both agencies increasingly use their existing authority to shape crypto policy while Congress struggles to finish the broader framework.

Polymarket traders on Saturday assigned the CLARITY Act a roughly 19% probability of being signed into law in 2026, down from a peak of 82% on Feb. 19. Even that diminished market-implied probability is nearly twice Galaxy Digital’s 10% estimate for passage this year.

CLARITY Act's bipartisan coalition faces a September wall

CLARITY entered the summer with something few major crypto bills have managed to secure: substantial bipartisan support in both chambers of Congress.

That coalition has since fractured under disputes that have less to do with the architecture of crypto regulation than with the politics surrounding it.

The Senate Banking Committee advanced the legislation 15-9 on May 14, with Democratic Sens. Ruben Gallego and Angela Alsobrooks joining all 13 Republicans. The House had already approved H.R. 3633 by a 294-134 vote in July 2025, with 78 Democrats backing the measure.

But negotiations deteriorated over restrictions on crypto activities by senior government officials, limits on stablecoin rewards and protections against illicit finance. Banks have also pressed lawmakers to restrict rewards offered by stablecoin platforms, warning that yield-bearing products could pull deposits away from the traditional banking system.

The biggest obstacle now is the ethics dispute surrounding Trump's crypto ventures.

Galaxy Digital said the legislation has effectively shifted from a policy negotiation into a political one. A bipartisan group of senators sent the White House a proposed ethics framework on July 30, but the administration has not publicly agreed to it.

Without a compromise, Galaxy said supporters may have no viable path to the 60 Senate votes needed to advance the bill.

That stalemate pushed CLARITY past the Senate's August recess without a floor vote.

Nevertheless, Senate Majority Leader John Thune filed cloture on the motion to proceed before lawmakers left Washington, setting up an early test when the Senate returns Sept. 14.

However, the calendar leaves little margin for another breakdown. The Senate is expected to spend only about three weeks in session before lawmakers leave Washington around Oct. 2 for midterm election campaigning.

Galaxy estimates that CLARITY would need to begin moving almost immediately and consume a substantial portion of that period to have a realistic chance of clearing the chamber this year.

That makes Wednesday's White House gathering more consequential. Executives from some of the companies that have spent years lobbying for federal crypto legislation will meet administration officials just weeks before the Senate determines whether CLARITY still has enough political support to move forward.

SEC and CFTC push ahead on crypto regulations

As CLARITY Act runs into political and scheduling constraints in the Senate, the SEC and CFTC are already testing how much of Washington’s crypto agenda can be advanced under existing law.

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The SEC has been developing two major initiatives under Chair Atkins, including Reg Crypto, a tailored framework for certain crypto offerings, and an Innovation Exemption that would allow limited experimentation with tokenized securities and onchain trading.

However, progress has been uneven. The commission had scheduled an Aug. 14 vote on the crypto-offering proposal before canceling the meeting a day earlier without setting a new date. The separate Innovation Exemption has also faced delays amid resistance from parts of the traditional securities industry.

Both initiatives address questions that CLARITY is intended to settle more permanently, including how digital assets can be issued and traded and which federal rules should apply. But their stop-start rollout reflects the limits regulators face in trying to move ahead while Congress remains divided.

The CFTC, meanwhile, is moving more aggressively.

Chair Selig said the agency needs to hear directly from the companies building new financial products if regulators are to keep pace with innovation.

The CFTC will convene its inaugural Innovation Advisory Committee meeting on Aug. 20, bringing together executives, entrepreneurs and market participants to discuss the future of financial regulation.

The meeting builds on the agency's increasingly assertive approach to prediction markets.

On Aug. 11, the CFTC invoked emergency authority after Kalshi warned that a lawsuit brought by New York could disrupt its federally regulated event-contract market nationwide.

Selig ordered the exchange to continue operating under federal derivatives rules and has argued that states cannot override the national framework governing CFTC-regulated markets.

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That dispute is part of a broader fight between the commission and several states over whether prediction contracts should primarily be governed by federal derivatives law or state gambling rules.

The SEC and CFTC cannot replicate the full scope or permanence of CLARITY through exemptions, rulemaking and interpretations of existing law. But both agencies are already attempting to establish parts of the regulatory framework Congress has yet to enact.

That tension will carry into the White House gathering, where Atkins and Selig are expected to meet executives whose businesses sit directly at the center of both the stalled legislation and the regulators' efforts to move without it.

The post Trump to meet Coinbase, Ripple and crypto leaders as CLARITY Act odds collapse to 10% appeared first on CryptoSlate.

Solana Research Institute, a Solana-aligned research group, used an Aug. 14 post to revive a July open letter by Angus Scott to the UK Financial Conduct Authority and other regulators. SRI reported roughly $18 billion in liquidations over 14 hours during the Oct. 10, 2025 crypto crash, including $3.21 billion in a single minute, and argued that opaque centralized venues failed while transparent on-chain finance kept functioning.

The crash records point to a more specific conclusion. Public data made it possible to reconstruct a large auto-deleveraging event on Hyperliquid, as well as deficits and oracle delays at Aave. ESMA later said Binance's internal collateral pricing amplified forced selling. Transparency exposed the mechanics of stress across market structures; it did not turn one venue category into a proxy for safety.

Auto-deleveraging, or ADL, is a last-resort derivatives mechanism that reduces profitable traders' positions when liquidations and risk buffers cannot keep a venue solvent. It differs from ordinary liquidation, which closes a losing position after its collateral falls below a required threshold. Regulators need comparable records to separate either mechanism from an outage, an oracle delay or a venue-local pricing failure.

Solana Research Institute: What the $18B liquidation total hides

Solana Research Institute's post paired the $18 billion total with a $3.21 billion peak in one minute. Amberdata's six-exchange analysis also put the peak at $3.21 billion at 21:15 UTC and said 93.5% of that minute's liquidations came from forced selling. For its full 14-hour window, however, Amberdata reported $9.89 billion, including $6.93 billion in the 40 minutes from 20:50 to 21:30 UTC.

Solana Research Institute announced the $18 billion figure, but its July 23 letter provides no common venue universe or aggregation method that reconciles it with Amberdata's $9.89 billion. The available records establish a measurement gap rather than a calculation error. An ESMA review separately cited market estimates of about $19 billion in automated derivatives liquidations for the day.

Those numbers describe different scopes. A day-wide market estimate, a six-exchange 14-hour sample, a one-minute peak and a venue-specific loss mechanism answer different questions. Collapsing them into one total obscures the market plumbing that the policy debate is supposed to expose.

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Binance's postmortem illustrates the problem. The exchange said its spot and futures matching engines and API trading remained operational, while some modules glitched after 21:18 UTC, internal transfers and Earn redemptions lagged, and local prices for collateral assets including USDe, BNSOL and WBETH dislocated after 21:36 UTC. Binance said two compensation batches for users liquidated because of those depegs totaled about $283 million.

ESMA said Binance's use of internal collateral prices enabled local depegs to erase collateral value, triggering forced liquidations and cascading selling. The regulator reported no observable spillover into traditional markets, but its account identifies venue design as an amplifier that a market-wide liquidation total cannot isolate.

The cited Binance account gives no event-specific ADL total. Centralized-exchange ADL therefore cannot be ranked as the crash's dominant systemic failure from the available evidence. The record instead separates module delays, transfer constraints, collateral-pricing dislocations and ordinary forced liquidations.

Public records exposed on-chain stress too

Hyperliquid and Aave disclose different risk engines, denominators and loss outcomes. Their records make comparison possible only after those distinctions remain visible.

The Hyperliquid figures come from a non-peer-reviewed study using public venue data. They establish that large-scale ADL also occurred on an on-chain derivatives venue, while leaving the design and outcomes distinct from Binance.

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A Chaos Labs report on Aave said some markets experienced five-block price-update delays. Chaos Labs estimated that liquidation fees and SVR revenue left the protocol about $1.5 million net positive after the reported deficits.

Public records made parts of Hyperliquid's loss allocation and Aave's lending stress measurable. The same records documented ADL, oracle latency and bad debt. Observability gave outsiders a better audit trail, while the mechanisms themselves still imposed losses and operational risks.

Faster trade data still leaves the loss chain fragmented. Solana Research Institute says its 33-page letter followed discussions between the FCA and Solana Foundation, although the available material contains no independent FCA confirmation. The letter covers seven domains, including identity, resilience, custody, market abuse, systemic risk and prudential capital. The Oct. 10 crash is one case study inside that broader argument.

The FCA has already addressed part of the transparency problem. Its June 2026 final cryptoasset framework requires UK qualifying cryptoasset trading platforms and principal dealers to publish post-trade information as close to real time as possible and no later than one minute. Larger UK platform operators also face pre-trade transparency requirements.

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The framework applies to DeFi where a clear controlling person carries out regulated cryptoasset activity. Genuinely decentralized activity can fall outside the perimeter, with a separate consultation on DeFi guidance still expected.

The cited final framework does not expressly require standardized cross-venue reporting of liquidation volumes, ADL use or backstop losses. Faster trade data improves the view of execution, but the Oct. 10 records show how operational delays, pricing failures and loss-allocation mechanisms can remain hard to compare after a common shock.

Solana Research Institute's policy case is strongest when it focuses on that observability gap. The crash showed public records can make venue failures measurable, including failures on transparent platforms. Comparable event disclosures could help regulators distinguish routine solvency controls from venue-specific operational or pricing breakdowns without treating transparency itself as proof of safety.

The post Crypto crash liquidations face massive data gap as public records contradict $18B Solana claim appeared first on CryptoSlate.

The 21Shares Ethereum ETF, which trades as TETH, reported $48.4 million in TETH redemptions during the first half of 2026 and ended June with 86.42% of its ETH holdings staked, according to an Aug. 14 quarterly filing. The redemption total covers completed activity; the June 30 staking ratio exposes future settlement to the timing of Ethereum's unstaking process.

For the six months ended June 30, TETH redemptions generated $48.426 million in distributions for redeemed shares against $42.174 million of contributions for new shares. Using the filing's unrounded figures, redemptions exceeded contributions by $6.251 million. The trust sold 21,125.2745 ETH for $48.426 million of cash redemptions during the period. The filing records completion of that activity without identifying a failed, delayed or suspended order.

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Following the TETH redemptions, the fund's net assets fell from $31.298 million at the end of December to $12.917 million at June 30. Several reported changes contributed to that result: shares outstanding declined from 2.11 million to 1.64 million, ETH's reference price fell 46.89%, and the trust recorded a $12.769 million realized loss on ETH sold for redemptions. Net asset value per share dropped from $14.83 to $7.88.

At quarter-end, the trust held 8,185.4684 ETH. Applying the disclosed 86.42% staking share gives approximate balances of 7,074 ETH staked and 1,112 ETH unstaked. Those quantities are derived from a rounded percentage. The filing's latest balance sheet stops at June 30.

The quarter-end figure was also far above TETH's average staking exposure during the reporting periods. The fund reported a 31.64% daily staking average for the second quarter and 27.32% for the six-month period.

Staking makes the composition of TETH's holdings a timing issue for future TETH redemptions. The trust says staked ETH cannot be moved or traded during a variable unbonding period and warns that temporary lockups or transfer restrictions could limit its ability to meet redemptions. Only authorized participants can place orders directly with the trust, in baskets of 10,000 shares or multiples. Ordinary investors generally trade individual TETH shares on the exchange.

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Broader spot Ethereum ETF flows have supplied a volatile backdrop. CryptoSlate reported in June that the products had recorded four straight withdrawal weeks totaling more than $870 million. One $19.3 million inflow day interrupted a 17-day outflow stretch.

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A new wave of TETH redemptions would test the size and timing of authorized-participant orders against the ETH available outside staking at that moment, plus the speed at which additional ETH could be released. TETH's 86.42% quarter-end ratio shows concentrated exposure to that timing trade-off. The filing documents a prospective constraint while recording completed first-half redemption activity.

The post A staked Ethereum ETF processed $48M in redemptions while keeping 86% of ETH locked, 21Shares filing shows appeared first on CryptoSlate.

SRX Global reported a 4.3% EMJX gain that the company labels hypothetical, but its first post-acquisition disclosures still leave the central investor question unanswered: whether the strategy performs with company capital.

SRX completed the acquisition on June 16, two weeks before its fiscal third quarter ended. In its Aug. 13 results release, the company described the EMJX result for June 16 through June 30 as “hypothetical” and “system-generated.” It explicitly said the figure did not represent actual trading results or returns earned on capital invested by SRX.

That distinction matters because SRX had said in June, when it announced the completed acquisition, that it deployed capital into multiple high-conviction positions. The newer disclosures do not connect those positions, or any attributable returns, to the EMJX model.

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What the filing actually shows

SRX's Form 10-Q shows that its company-wide digital-asset balance began the quarter at $8.333 million. It recorded no purchases, $4.803 million in proceeds from sales, a $1.410 million fair-value loss and a $2.120 million balance at quarter-end.

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Those figures do not establish that EMJX controlled the holdings or transactions. The filing separately reported no reportable EMJX segment revenue, operating expenses or other segment results for the June 16 to June 30 ownership period.

The company also recorded a $4.140 million net loss from continuing operations for the quarter. That consisted of a $3.201 million operating loss and $939,000 of net other expense, which included the digital-asset fair-value change. It is a consolidated company result, not an EMJX trading return.

The two headline figures therefore measure different things: 4.3% is a hypothetical model result over 14 days, while $1.410 million is the full quarter's company-wide change in digital-asset fair value. The disclosure provides no basis for calculating an actual return earned by EMJX on company capital.

Management said deployment would be phased and that it would provide additional performance information after developing a meaningful history of actual capital deployment. It did not specify how much capital must be deployed or when investors should expect that track record.

For investors, the next meaningful evidence will be a defined pool of EMJX-managed capital, its deployment period and the returns attributable to it. That record would let investors compare the model's claims with deployed-capital outcomes. Until SRX supplies those measures, the 4.3% figure describes a model output rather than a demonstrated return on invested company money.

The post How a public crypto firm’s 4.3% AI gain hides millions in balance sheet losses appeared first on CryptoSlate.

The $16.3 billion in Bitcoin ETF positions that CryptoSlate recently tracked ahead of the Q2 filing deadline resolved into four disclosed position patterns.

Two Abu Dhabi filers held their ordinary ETF share counts steady, JPMorgan increased ordinary spot-ETF units, UBS shifted its disclosed long-options mix, and Morgan Stanley reduced external ETF units as a new branded wrapper appeared in its filing.

The result answers CryptoSlate’s pre-deadline Bitcoin ETF stress test within strict limits. The five filings arrived from Aug. 12 through Aug. 14, but each freezes reportable positions at June 30. Form 13F captures long securities and some held options while omitting short positions and written options, leaving each manager’s complete hedge book outside the frame.

The wider Bitcoin ETF complex recorded about $4.89 billion of net outflows during Q2, based on CryptoSlate’s calculation from Farside Investors’ daily table. About $2.06 billion of those net outflows came in the final five trading sessions of June. The quarter-end filings show how unevenly that pressure appeared across reported holders and instruments.

Bitcoin ETF holdings: the four-way map

Adding these rows to a single exposure total would mix owned fund units with option underlying equivalents and a separately branded wrapper. Kept in their proper categories, the filings show four distinct responses to the same drawdown.

Sources: Morgan Stanley Q1 and Q2; JPMorgan’s amended Q1 restatement and Q2 filing; UBS Q1 and Q2; Mubadala Q1 and Q2; and Abu Dhabi Investment Council Q1 and Q2.

The sovereign row is the clearest case of investors absorbing a lower mark. Mubadala held 14,721,917 shares of BlackRock’s iShares Bitcoin Trust at both March 31 and June 30, while ADIC held 8,218,712 shares at both snapshots. Their reported market values fell anyway: Mubadala’s position declined from $565.6 million to $490.1 million, and ADIC’s moved from $315.8 million to $273.6 million.

Each position lost about 13.35% of its reported value with no net share-count reduction between quarter ends. The identical unit counts identify price revaluation as the source of the lower marks. Two snapshots still leave room for intra-quarter sales and repurchases, and they say nothing about any direct Bitcoin positions. By June 30, however, the disclosed sovereign IBIT holdings matched their March 31 share counts.

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Bank books split across shares, options and wrappers

JPMorgan’s filing supplied the clearest ordinary-share increase. Its spot Bitcoin ETF holdings rose from 8,462,883 shares in the amended Q1 restatement to 10,623,591 in Q2. IBIT drove most of the move, increasing from 8,302,691 to 10,407,635 shares.

The options rows moved on a separate track. JPMorgan’s IBIT call underlying amount rose from 3,775,000 to 3,945,000 shares, while its put underlying amount fell from 4,756,400 to 3,495,800. Form 13F instructions express reported options in underlying-security terms, so those figures represent neither contract counts nor ordinary ETF ownership.

Morgan Stanley’s external spot-ETF holdings moved the other way, falling by 775,301 units to 18,636,055. IBIT alone declined by 783,343 shares. The Q2 filing also reported 2,570,627 shares of Morgan Stanley Bitcoin Trust, a row absent from Q1.

Counting the branded trust alongside the external ETFs yields 21,206,682 spot-wrapper units, 9.25% above the Q1 external-fund total. That cross-wrapper comparison shows the scale of the newly reported product, while the two snapshots leave its origin unresolved. They do not connect the reduction in outside funds to the appearance of the branded trust or prove that the same accounts moved between products.

Related Reading

Morgan Stanley’s Bitcoin ETF drew $371 million of share contributions while Bitcoin erased $66.8 million

Nearly all of Morgan Stanley's Bitcoin ETF operating-period decline was unrealized as gross share contributions reached $371.1 million.

Aug 14, 2026 · Liam 'Akiba' Wright

UBS produced the largest reported unit change in held long options. Its ordinary spot-ETF holdings rose 13.20% to 414,191 shares, while IBIT call underlying equivalents climbed from 80,000 to 1,950,000 and put equivalents fell 52.75% to 143,300. The option amounts signal a sharp change in the disclosed long-options mix, with no basis for describing the calls as 1.95 million purchased IBIT shares.

Related Reading

Bitcoin ETF calls surge 24-fold as puts fall 52.75%, reaching 1.95M IBIT underlying shares

Its Aug. 13 filing covered 1.95 million call underlying-share equivalents at June 30, while account purpose remained unresolved.

Aug 14, 2026 · Liam 'Akiba' Wright

Account ownership adds another boundary. The SEC’s Form 13F guidance allows managers to report securities held for their own accounts alongside assets managed with investment discretion for private clients, mutual funds, pensions, trust departments and controlled entities. Morgan Stanley, JPMorgan and UBS may therefore combine several kinds of managed capital. Their filings establish the manager-level rows, not whether a particular position belonged to clients or the banks themselves.

The same guidance excludes short positions and written options. Without that missing side, the JPMorgan and UBS rows cannot establish either firm’s net Bitcoin direction. The visible call and put changes are pieces of an options book, not a complete directional bet.

Forced-sale evidence sits at the wrapper level

No named filer disclosed a margin call, client withdrawal, mandate breach or forced liquidation. The observable pressure sits in the aggregate ETF data: the fund complex recorded about $4.89 billion of Q2 net outflows, including about $2.06 billion during June’s final five trading sessions. Farside’s totals identify the wrapper-level flow, while offering no link to the five managers in this filing set.

Each cohort could still transmit selling through a different mechanism. Model portfolios can trim allocations after rallies to return to target bands, and collateral stress can force leveraged holders to liquidate during drawdowns. As CryptoSlate previously reported, new contributions, wider bands, options or tax-aware placement can reduce the need for those sales.

Client withdrawals and portfolio constraints are possible channels inside discretionary bank-managed accounts, but the filings show no such event. Expiry, exercise and dealer hedging can also generate flows around options positions, although the omitted strikes, expirations, premiums, shorts and written options prevent this data from sizing their direction.

The completed Bitcoin ETF stress test therefore moves forced-sale risk away from a single “institutional exit” story. Sovereign snapshots showed no net share reduction. Bank-managed rows remain subject to client and portfolio rules hidden from public view. ETF net outflows registered at the wrapper level, while options can transmit flows on a different schedule from ordinary fund shares.

One drawdown met several structures with different owners, constraints and clocks. The useful signal is the separation among them.

The post Bitcoin’s $16.3 billion Wall Street stress test splits into four positional patterns appeared first on CryptoSlate.

A crypto credit card promises something very simple. You hold the card against the terminal, part of your crypto balance is liquidated in the background, and the merchant receives euros. In everyday use it feels like any other card payment. For tax purposes in Germany it is a disposal of your crypto assets.

Almost everything that later creates work with the card follows from that classification. Use it for a year on fuel, weekly groceries and restaurant bills and you do not produce a handful of events. You quickly produce several hundred separate disposals. Each one carries its own date, its own price and its own holding period, and you have to be able to evidence each one if asked.

This article sets out how the card is treated for tax: which designs exist, when a payment becomes taxable, and which records you need before your next tax return. Which providers are available for the German market, and how they differ on fees and custody, is covered in our comparison of crypto credit cards and crypto debit cards.

How a crypto credit card works: wallet, settlement partner and card network

No merchant terminal in Europe accepts Bitcoin. At the till the payment runs over the same rails as any ordinary debit card transaction, and settlement happens in euros. The crypto side of the process takes place solely at the card issuer.

That issuer is usually a licensed e-money institution or a bank, often working alongside the crypto provider itself. The institution holds the authorisation for the card business, while the wallet function sits with the crypto service. For you these are two contractual relationships behind a single interface.

At the moment of payment, the provider liquidates as much of your balance as the euro amount requires. On some cards this happens to the second, alongside the transaction. On others the card draws down a euro balance that was topped up in advance. The difference is small technically and large fiscally, because it determines which price and which day are decisive for your gain.

The tax core: paying is a disposal under Section 23 of the German Income Tax Act

Crypto assets held as private assets count in Germany as other economic goods within the meaning of Section 23(1) sentence 1 no. 2 of the Income Tax Act, and they therefore fall under private disposal transactions. The gain is taxable where no more than one year lies between acquisition and disposal.

What matters is the broad meaning of disposal. It covers a sale for euros, a swap into another cryptocurrency, and equally the use of crypto as a means of payment. Whether you sell your coins on an exchange or the card issuer liquidates them while you pay at the hardware store makes no difference for tax.

The tax authority last set out its position in the BMF circular of March 6, 2025, which replaced the earlier version of May 10, 2022. In practice that means even the four-euro coffee is a disposal. There is no de minimis carve-out for small amounts.

Debit model, stablecoin balance and credit line: three designs with three tax outcomes

Under the pure debit model, Bitcoin, Ether or another crypto asset sits in your account with the provider, and every card payment triggers a proportional sale. This is the most laborious case. Each payment needs a date, a price and an acquisition history, and over a year that adds up to a four-digit number of individual entries.

Things run considerably more calmly if you fund the card from a stablecoin balance. A stablecoin pegged to the euro barely moves in price, so a payment produces a gain or a loss only in the cent range. The event remains a disposal subject to documentation, but the amounts are minimal.

The credit line variant sells nothing. You pledge crypto assets as collateral and pay out of a loan. Taking on a loan is not a disposal, so the transaction triggers no income tax at the outset. In exchange you acquire a different problem.

The one-year holding period decides whether your card payment stays tax free

If more than a year lies between the purchase of your coins and the card payment, the gain is exempt from income tax, regardless of its size. The period runs to the day from the moment of acquisition.

In the circular cited above, the Federal Ministry of Finance clarified that this period does not extend to ten years where you have used your crypto assets for staking or lending in the meantime. That matters for anyone who earns yield on a balance between payments.

Whether the period survives at all is an open question. We reported on the push to abolish it on August 9, 2026 in our article on the debate over the German crypto holding period. Until something changes, the one-year rule is the most effective lever you have when using the card.

The 1,000 euro threshold is not an allowance

The statute says that gains remain tax free where the total gain from private disposal transactions in the calendar year came to less than 1,000 euros. That clause is often misread, because it sets an exemption threshold rather than an allowance. Reach 1,000 euros and the entire gain is taxable, from the first euro onwards. At 999 euros you pay nothing; at 1,000 euros you tax the full amount.

The threshold also applies beyond crypto. It captures all private disposal transactions in a calendar year, including a sale of gold. For card users that is an uncomfortable combination. Hundreds of small gains ranging from a few cents to a few euros do not stand out individually, but they add up over the year. Without clean records you only find out where you stand when you file.

FIFO in practice: which coins the card spends first

If you have bought Bitcoin in several tranches over months, it is not obvious which tranche a card payment spends. For fungible economic goods, the assumption is that the units acquired first are also disposed of first. This first-in-first-out rule works against you in a rising market, because it consumes the oldest and usually cheapest holdings first and so raises the gain you report. At the same time it helps you, because those old holdings often sit outside the one-year period.

We set out how the holding period, the allocation of units and the exemption threshold interact on regular purchases on August 11, 2026, in our article on Bitcoin savings plans and tax. The same logic applies to the card, only with far more individual events on the disposal side. You therefore cannot decide after the fact which purchase belongs to which card payment.

Cashback and rewards in crypto: separate inflow, separate valuation

Many cards pay a rebate in crypto assets, frequently in the provider's own token. This is a second matter, independent of the payment itself. The allocated units enter your assets with their own acquisition date and their own value, and from that day a fresh one-year period runs for them.

Whether the inflow is itself taxable, or only the later sale, depends on how the programme is structured. A discount on your own purchase is treated differently from a reward for holding a token. This is the point at which a visit to a tax adviser pays off most readily. In any case, record the euro value of the credit on the day it arrives, otherwise a later gain is close to impossible to calculate.

Fees, exchange rate spread and foreign currency charges erode the arithmetic

When assessing a card it is worth looking at several cost blocks that rarely appear in one place: the annual or monthly fee, the mark-up between the market price and the price at which the provider liquidates your balance, the charge for payments outside the euro area, and the cost of cash withdrawals.

For tax purposes these costs are not lost. Expenses directly connected with the disposal reduce the taxable gain, and incidental acquisition costs increase the acquisition cost. In practice this often fails because the statement hides the mark-up inside the execution price. A card that gives two percent back and takes one and a half percent of spread on the conversion is a different product from its marketing.

Record-keeping duties: what the tax authority wants to see since the BMF circular

The part of the March 2025 circular with the greatest practical consequences concerns the duties to cooperate and to keep records. The authority expects complete documentation of the transactions; a mere reference to blockchain addresses is expressly not enough; transaction summaries or tax reports are to serve as the basis of assessment.

For the card that means you must be able to evidence, for each payment, the date, the type and quantity of crypto assets given up, the euro price at the time of payment, and the origin of the holdings. On top of that comes the acquisition side: when the units entered your portfolio, and at what price.

Cards with a credit line: borrowing instead of selling, and the risk of liquidation

The credit line card looks at first glance like the elegant answer to the tax problem, and that is exactly how it is marketed. You keep your coins, you pay out of a collateralised loan, and you trigger no disposal. The catch lies in the collateral mechanism. If the price of the pledged crypto assets falls, the provider demands more collateral or liquidates part of the holding. That forced liquidation is in turn a disposal with all the tax consequences attached, only at a moment you did not choose. Anyone opting for this structure should keep the loan-to-value ratio low and know the liquidation threshold; it sits in the contract terms and not in the marketing material.

When the card provider shuts the programme down or leaves the market

Card programmes in the crypto sector have a short half life. In recent years several providers have discontinued their cards for European customers because a licensing partner walked away or the regulatory environment shifted. Two points matter here.

First, a residual balance on an expiring card is often converted automatically into euros or a stablecoin. That forced conversion is also a disposal, falling in a tax year you did not choose. Second, access to the transaction history frequently ends together with the programme, so back up the data while you still have it.

When a crypto card pays off and when the paperwork eats the advantage

The card makes sense for two groups: users who want to spend old holdings that sit well outside the one-year period without the detour via an exchange and a bank account, and users who work from a euro-pegged stablecoin balance whose gains per transaction are in the cent range.

It makes little sense if you spend freshly bought, volatile holdings in everyday life. You then produce taxable events in large numbers, and documenting them costs more time than the cashback brings in. The honest question is whether you want to keep a record for every card payment. If the answer is no, one planned sale per quarter and an ordinary bank card will give you a quieter life.

What to take away

1. Establish the design of your card first. Read the terms to see whether a payment sells crypto, draws down a euro balance or takes out a loan. That determines whether a taxable event arises at all. Our comparison of crypto credit cards and their settlement models helps with the shortlist.
2. Set up your record-keeping before you use the card. Connect the card account from the outset to software that captures date, quantity, price and origin for every transaction. Our overview of crypto tax tools and portfolio trackers shows which programmes manage this for the German market.
3. Separate your spending account from your holdings. Load only the amount you intend to spend in the near term onto the card, and keep the rest away from the card provider. For the long-term portion, self-custody is the next step; the devices worth considering are covered in our hardware wallet comparison.

(As of August 11, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)

Four providers have closed or sharply cut back their European business within seven weeks. The question worth asking is a practical one: what happens to the coins still sitting in your account when a crypto exchange shuts down?

It is almost always asked too late. A withdrawal from the market runs in stages, and the deadline that takes away the most room to act is usually the first one to expire.

This guide sets out the sequence all four cases share, and answers the point most people only notice afterwards: what a forced sale means for tax. If you are already thinking about where your holdings should sit in future, it is worth looking first at regulated crypto exchanges with EU authorisation.

Four crypto exchange exits in seven weeks: what the cases have in common

In order: at the end of June 2026, cryptoticker reported that Binance was restructuring its EU business as of July 1. The end of July brought BitMart's announcement that it would cease operations. In early August, Luno said it would close accounts in several EU regions, and Revolut announced it would remove the stablecoin USDT from its European offering by the end of August.

Four different providers, four different reasons. All of them follow the same pattern, and that pattern will apply again next time:

1. An announcement by email and in the help centre, often several weeks ahead.
2. A first block that switches off one specific function while everything else keeps running.
3. A cut-off date up to which you can sell and move money out.
4. An automatic measure for anything still in the account after that.
5. A cost mechanism that eats into the remaining balance.

Once you know the sequence, you read those emails differently. The decisive information is rarely in the headline; it sits further down, in the list of dates.

MiCA as the driver: why the authorisation requirement is thinning the crypto market

The common background is MiCA, the Markets in Crypto-Assets Regulation. Since the transitional arrangements ran out, every provider offering crypto services in the EU needs an authorisation as a Crypto-Asset Service Provider, or CASP. Obtaining one means going through a formal procedure and then staying under continuous supervision.

For you as a customer, three obligations matter most. An authorised provider has to hold client funds and client crypto-assets separately from its own, capital requirements apply, and there are disclosure duties covering risks, fees and complaints procedures. Those requirements are exactly what explains the exits. A provider essentially has two options: go through the procedure and carry the running cost, or give up the EU business. How thin the field really is shows in the analysis of the MiCA register from August 6, 2026: of the 329 authorisations counted there at the time, only 21 went to trading platforms. Further exits are therefore more likely than a return to the old line-up.

The ESMA register as the first check before any crypto trading venue

Whether a provider is authorised can be looked up publicly. The European Securities and Markets Authority, ESMA, keeps a register of authorised CASPs. It shows which company was authorised in which member state, and which services the authorisation covers. The check takes two minutes and is worth doing before any larger deposit: search ESMA's CASP register for the company name. For providers with a German authorisation, BaFin also maintains its own company database.

What to look for in the register

An entry is not a seal of approval for service quality; it only says that a provider is supervised. Check the company name carefully, because the brand and the legal entity often differ. No match does not automatically mean a dubious provider, but it does mean the MiCA safeguards do not apply there.

The three deadlines when a crypto exchange withdraws: crypto withdrawal, sale, euro payout

When a provider pulls out, it almost always sets three separate dates, in this order:

1. End of crypto withdrawals. From this point you can no longer send your coins to your own wallet or to another provider.
2. End of trading. From here the position can no longer be sold.
3. End of euro payouts. After that, even the cash no longer reaches your bank account.

The documented case here is Luno. According to the provider, transfers to external wallets ended at the end of June 2026, while selling and euro payouts remained possible until August 31, 2026.

Between the first and the last date there were a good two months. Anyone who missed the first deadline could still get to their money, but only in euros. That distinction is the most important point in this article.

Why the crypto withdrawal is blocked first

That the transfer to your own wallet is the first thing to go seems illogical, but it makes sense from the provider's side. External transfers are the most demanding part of the operation, because they require blockchain connections, anti-money-laundering monitoring and a department for misaddressed transfers.

For you this has a consequence that goes beyond any single provider. Once external withdrawals are blocked, you no longer have a choice between holding and selling. A custody problem turns into a taxable event, at a moment you do not control. So when an email arrives carrying the words discontinuation, withdrawal or closure, look first at the date from which no coins may leave the building.

Forced conversion and forced sale: when the crypto exchange decides without you

What happens to holdings still there after the cut-off date? Providers solve this differently, but always without asking. In Revolut's USDT delisting, the announced mechanism is an automatic conversion: anyone who has neither sold nor withdrawn the stablecoin by the end of August 2026 will have the remaining balance converted into the account's main currency at the rate applying on the day. According to the available reports, the trigger was that the issuer of USDT did not seek a MiCA authorisation for the stablecoin.

Two variants need to be kept apart:

• Conversion into fiat. The crypto-asset becomes euros. That is a sale, with everything that follows for tax.
• Conversion into another crypto-asset. USDT becomes an authorised stablecoin, for example. That counts as a swap too, even if the euro amount barely moves.

The second case surprises many people. Swapping one stablecoin for another feels like nothing at all, and still amounts to a disposal of the old holding for tax purposes.

Tax consequences in Germany: a forced crypto sale is a disposal

For private individuals with unlimited tax liability in Germany, gains from selling crypto-assets fall under private disposal transactions in Section 23 of the Income Tax Act. That applies whether you sell voluntarily or an exchange triggers the sale by withdrawing; the law offers no discount for involuntary disposals.

Three points from this are worth knowing. The holding period is one year, and once it has passed a disposal gain is no longer taxable. An exemption threshold applies to the total gains of a calendar year, and it falls away entirely once exceeded. And you have to be able to identify which units were acquired when, which is usually handled with the FIFO method per wallet or account.

The practical twist lies in how this meets the exit. If your position is eleven months old and the forced sale hits in the twelfth month, you lose the tax exemption that would have arrived four weeks later. With staggered purchases through a savings plan, that is the normal case. If you still have the option of moving the coins to your own wallet, the holding period continues untouched, because a transfer between your own addresses does not count as a disposal.

What to secure before the account disappears

The step most often overlooked has nothing to do with money. Once an account is closed, you can no longer reach the transaction history, and that is exactly what you need for your tax return. So before the cut-off date, pull:

• the full transaction export as a CSV file, covering the entire life of the account if possible,
• the trade confirmations and fee statements,
• the records of euro deposits and withdrawals,
• and the provider's closure notice, because it documents the reason for the sale.

Custody fees after the deadline: how a residual crypto balance melts away

One detail sits far down in the announcements: after the cut-off date the account often stays open and starts costing money. In Luno's case, monthly fees were announced for remaining balances, rising over time. That mainly hits accounts nobody thinks about any more, such as old secondary accounts and amounts below the level at which a payout feels worth the effort.

The emergency plan if you have missed the deadline

Suppose it has already happened: the cut-off date is behind you, and the app no longer offers a sell button. The money is usually not lost, but the route to it becomes awkward. At Luno, access after the cut-off date runs through customer service, which asks for a bank statement no older than three months. Self-service turns into an identification procedure.

Get in touch in writing, using the official address from the provider's help centre rather than a link from an email. Record the date and content of every message, and explicitly request the transaction history. Also check which supervisory authority is responsible, because with an authorised company there is a complaints route beyond customer service.

A warning belongs here. Around every announced closure, messages appear claiming to help rescue the balance and leading to fake login pages. No reputable provider asks you by email to enter your credentials or your seed phrase.

Early warning signs: spotting a crypto exchange exit before the email arrives

Exits announce themselves. None of the following signals proves anything on its own, but when several come together it is worth a second look at your choice of provider:

• Trading pairs disappear, particularly for stablecoins and smaller tokens.
• New deposits are capped or switched off for certain routes.
• An unusual wave of identity verification requests goes out.
• The fee structure changes at short notice to the disadvantage of small accounts.
• The company does not appear in the relevant registers, or only for a few categories of service. This point is the most reliable one, because it can be checked objectively.

Self-custody as the consequence: what hardware and software wallets do

As long as your coins sit with a provider, your access depends on that provider's business decisions and on its authorisation. Holdings in your own custody remove that risk, and in exchange you carry sole responsibility for the backup.

That responsibility should not be played down. Lose the seed phrase and there is no hotline; store it digitally without protection and you have swapped a provider risk for a theft risk. For larger amounts, a device with separate key storage is the usual route, while for everyday use many people find a software wallet on their phone enough.

What to take away when a crypto exchange closes

1. Look for the date, not the headline. With every closure email, note first the date from which crypto withdrawals stop. After that you can decide calmly whether to move your holdings to your own address, or sell and settle the proceeds with a provider offering reliable euro payouts.
2. Get long-term holdings out of third-party custody. What sits at your own address cannot be forced out by any exit. Which device is suitable for that is shown in the hardware wallet comparison.
3. Secure the records before the account closes. Transaction export, fee statement and closure notice belong in your archive. A crypto tax tool or portfolio tracker keeps acquisition dates and holding periods even when the exchange is gone.

(As of August 11, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)

Transparency note: This article was produced with the assistance of artificial intelligence and reviewed by our editorial team before publication. All figures and claims were checked against the primary sources linked in the text.

The crypto market is holding a narrow range with almost no conviction in either direction. Bitcoin trades at $62,903.32, barely changed on the day but down more than 3% on the week. Beneath the surface, the picture is more divided than the headline number suggests, with Chainlink posting a double-digit weekly gain while Cardano sheds another 10%.

What Are the Crypto Prices Today Across the Top Coins?

$Bitcoin trades at $62,903.32, $Ethereum at $1,876.76 and XRP at $1.00, with most large caps moving less than 1% over the past 24 hours.

Here are the crypto prices today across the largest non-stablecoin assets:

• Bitcoin ($BTC): $62,903.32, up 0.23% on the day, down 3.18% on the week, down 28.12% year to date. Market cap $1.26 trillion
• Ethereum ($ETH): $1,876.76, up 0.10% on the day, down 2.22% on the week, down 36.75% year to date. Market cap $226.49 billion
• $BNB: $610.82, up 1.01% on the day, up 2.54% on the week, down 29.24% year to date
• $XRP: $1.00, up 0.11% on the day, down 3.70% on the week, down 45.58% year to date
• Solana ($SOL): $75.17, down 0.31% on the day, down 0.28% on the week, down 39.61% year to date
• TRON ($TRX): $0.3307, down 0.66% on the day, up 0.61% on the week, up 16.35% year to date
• Hyperliquid ($HYPE): $55.99, down 0.25% on the day, up 2.71% on the week, up 120.17% year to date
• Dogecoin ($DOGE): $0.06992, up 0.78% on the day, down 0.64% on the week, down 40.38% year to date

The daily column is almost flat across the board. That compression is itself the signal: neither buyers nor sellers are willing to commit size at these levels.

Where Is the Crypto Market Cap Right Now?

The total crypto market cap sits near $2.24 trillion, down roughly 0.9% over 24 hours, with Bitcoin dominance at 56.1%.

• The crypto market cap has fallen from a peak of about $4.27 trillion in October 2025, a decline of nearly half. Bitcoin itself peaked at $126,198 in October 2025 and now trades roughly 50% below that record.
• bitcoin dominance at 56.1% matters more than the absolute figure. When total market cap falls while dominance holds steady or rises, capital is leaving the asset class rather than rotating from Bitcoin into altcoins. That is what the current combination shows. There is no altcoin season forming underneath this weakness.

Stablecoins account for roughly $301 billion of the total, which is worth remembering when reading dominance figures. Tether sits at $182.97 billion and USDC at $71.87 billion, and neither represents risk appetite.

Which Altcoin Prices Are Moving Against the Market?

Chainlink is the clear outperformer, up 6.36% on the day and 13.21% over seven days, while Monero has gained 6.62% on the week.

Not all altcoin prices are following Bitcoin lower. Three names have decoupled:

• Chainlink (LINK): $9.42, up 6.36% on the day and 13.21% on the week. Still down 22.70% year to date, but the strongest weekly performer among the majors
• Monero (XMR): $403.12, up 0.59% on the day and 6.62% on the week, down just 3.92% year to date
• Zcash (ZEC): $489.79, up 1.00% on the day, down 4.43% year to date

The chainlink price move is the standout, and the fact that two privacy coins sit alongside it in the weekly leaderboard points to selective, narrative-driven buying rather than broad risk appetite.

On the other side, Cardano (ADA) is the weakest major at $0.1782, down 10.63% on the week and 46.44% year to date. UNUS SED LEO has fallen 3.78% on the day and 8.36% on the week.

Across the full year, only two large caps remain positive: Hyperliquid at plus 120.17% and TRON at plus 16.35%.

What Does the Crypto Fear and Greed Index Show?

The Crypto Fear and Greed Index reads 29, placing sentiment firmly in fear territory without reaching the extreme readings associated with cycle bottoms.

A reading of 29 on the crypto fear and greed index indicates risk appetite is switched off, but it is not capitulation. For reference, the deepest reading of this cycle was 10 on 5 February 2026, with Bitcoin at $63,548.50 at the time. Sentiment has spent most of 2026 in fear-based territory.

The gap between sentiment and flows is worth watching. Spot Bitcoin ETFs recorded $389.71 million in net outflows for the week ending 14 August, according to SoSoValue data, though individual sessions have shown inflow streaks. Institutional demand has not disappeared, but it is no longer directional.

Why Is the Bitcoin Price Under Pressure This Week?

Two US regulatory events removed the catalysts the market had been positioned for, leaving Bitcoin without a reason to break higher.

The bitcoin price weakness this week traces to policy rather than technicals. The SEC cancelled its 14 August open meeting one day before it was due to vote on Regulation Crypto, the agency's first formal crypto rulemaking, citing an unforeseen scheduling issue and setting no replacement date. Separately, the CLARITY Act remains stalled in the Senate, with cloture set to ripen on 15 September.

At the same time, index provider MSCI opened a consultation that could remove Bitcoin treasury companies including Strategy and Metaplanet from its global equity indexes in November, with estimates of forced passive selling ranging from $1.8 billion to $2.8 billion.

Regulatory clarity was the catalyst most of the market was waiting for. Both routes to it stalled in the same week.

What Do the Technicals Say About the Bitcoin Price?

Bitcoin trades below its 20-day, 50-day and 200-day exponential moving averages, with daily RSI near 42 and support around $62,532.

The structure is a downtrend rather than a shallow pullback. Price at roughly $62,900 sits below the EMA20 at $63,961, the EMA50 at $64,462.68 and the EMA200 at $71,907.36. Each of those levels now acts as overhead resistance.

Daily RSI14 around 42 is soft without being oversold. The one-hour RSI has dipped closer to 32, which suggests short-term seller exhaustion rather than a trend change.

Support near $62,532 aligns with the lower Bollinger Band. A reclaim of the EMA20 near $63,961 would be the first technical sign the downtrend is losing momentum.

What Should Crypto Investors Watch Next?

Three dated events over the next month carry more weight for prices than any current technical level.

• 20 August 2026: The CFTC holds its first Innovation Advisory Committee session
• 15 September 2026: Senate cloture on the CLARITY Act ripens
• 30 September 2026: MSCI consultation on index eligibility closes, with results on 16 October

Until one of these produces a definitive outcome, the range-bound pattern is likely to persist. The market is not selling off aggressively, but nothing in the current setup argues for a sustained move higher either.

Index provider MSCI opened a public consultation on 14 August 2026 that would make so-called non-operating companies ineligible for its Global Investable Market Indexes. Applied to May 2026 data, the proposed screen deletes Strategy (MSTR), Metaplanet (3350) and uranium holder Yellow Cake (YCA) from the MSCI ACWI IMI. Feedback closes on 30 September, results arrive on 16 October, and any change takes effect at the November 2026 index review.

Why Does MSCI Want to Remove Strategy From Its Indexes?

MSCI argues that companies holding assets without running a substantive operating business should not qualify for equity indexes designed to track investable markets.

The msci strategy index removal proposal is the provider's second attempt in ten months. An earlier consultation opened on 10 October 2025 targeted digital asset treasury companies directly, defining them as firms holding 50% or more of total assets in Bitcoin or other digital assets. That proposal named 39 companies and triggered significant volatility in mstr stock.

Strategy objected formally in December 2025, arguing the 50% threshold was arbitrary and would cause repeated index entries and exits as the bitcoin price moved. MSCI confirmed on 6 January 2026 that it would not implement the exclusion at the February 2026 index review.

The January decision was not a full reprieve. MSCI froze digital asset treasury companies in place, blocking increases to Number of Shares, Foreign Inclusion Factor and Domestic Inclusion Factor, and deferring additions and size-segment migrations. The August 2026 replacement is asset-agnostic and contains no reference to digital assets.

What Are the MSCI Non-Operating Companies Rules?

The proposed screen applies a two-stage test: an operating asset threshold, followed by five financial ratios, with companies failing four of the five deemed ineligible.

Stage one assesses whether operating assets exceed 50% of total assets. Companies that clear this threshold remain index-eligible with no further review.

Companies that fail stage one proceed to the five-ratio test. At the softer thresholds applied to existing index constituents, the msci non-operating companies criteria are:

1. Operating asset intensity below 10% of total assets
2. Operating expenses below 5% of total assets
3. Operating cash flow below zero
4. Non-operating fair value changes above 5% of total assets
5. Financing cash flow above 30% of total assets, combined with filings showing capital raised for asset accumulation

Failing four of the five results in ineligibility. Deletion follows only after two consecutive annual filings fail the test.

The fifth ratio carries particular weight for bitcoin treasury companies. Issuing equity through at-the-market programmes to fund Bitcoin purchases is the defining mechanism of the treasury model, and it is the behaviour the ratio identifies. Share buybacks, USD reserve building and convertible note retirement do not alter any of the five measures.

Which Bitcoin Treasury Companies Fail the MSCI Screen?

MSCI's simulation using May 2026 data produced three outright deletions from the ACWI IMI: Strategy, Metaplanet and Yellow Cake.

Strategy is the largest affected constituent at approximately $23.93 billion, followed by Yellow Cake at $1.81 billion and Metaplanet at $654 million. Metaplanet currently holds 43,000 BTC.

Three further companies were placed on a watchlist, including Ethereum treasury firm SharpLink Gaming (SBET). A second consecutive weak annual filing would move them into the deletion category.

The inclusion of Yellow Cake, a London-listed uranium holding vehicle with no crypto exposure, is central to MSCI's position on metaplanet msci eligibility and the wider proposal. Under the framework, a uranium storage vehicle and a Bitcoin treasury share the same structural profile: an entity holding an appreciating asset without substantive operations. Three companies out of roughly 9,000 index constituents fail the screen.

How Much Forced Selling Would MSTR Index Removal Trigger?

JPMorgan estimated that MSCI exclusion alone could force approximately $2.8 billion in passive outflows from Strategy, rising to about $8.8 billion if other index providers adopt comparable screens.

The November 2025 estimate, produced by analysts led by Nikolaos Panigirtzoglou, remains the largest published figure for strategy passive outflows. The gap between the two numbers defines the risk: MSCI acting alone represents an absorbable event, while adoption by FTSE Russell, S&P Dow Jones and comparable providers represents a materially different scale.

Independent estimates cluster lower on the MSCI-specific component. TD Cowen attributed $2.5 billion of Strategy's market value to MSCI inclusion and $5.5 billion to other index memberships. Adjusted for the share price prevailing in August 2026, current framing places the MSCI-only figure closer to $1.8 billion to $2.0 billion.

One constraint limits the impact of any mstr index removal. Deletion compels selling only by passive index-tracking funds. Active managers are under no obligation to mirror benchmark changes, which places a ceiling on the mechanical outflow.

How Did Strategy Respond to the MSCI Proposal?

Strategy rejected the premise of the proposal, stating that index providers should measure markets rather than determine which assets companies are permitted to hold.

In a statement published on X on 14 August, the company said digital assets are assets, and argued that the proposal places MSCI out of step with regulators, markets and its own customers. The statement concluded that neither Bitcoin nor Strategy requires MSCI.

The response follows the company's formal objection of December 2025, which preceded MSCI's decision not to implement the earlier crypto-specific rule. The circumstances differ in one respect. The December objection rested substantially on the argument that the rule discriminated against a single asset class. That argument applies less directly to a screen that also captures a uranium holding vehicle.

MSTR shares declined approximately 4% on the session following the announcement, closing near $93.

Why Is Metaplanet Under Pressure Beyond the MSCI Index Risk?

Metaplanet's mNAV has fallen below 1.0, closing off common share issuance as a funding channel and forcing a shift toward debt financing.

mNAV measures a company's market value against the net asset value of its holdings. A reading above 1.0 indicates investors are paying a premium to the underlying Bitcoin. A reading below 1.0 indicates the market values the company at less than the Bitcoin on its balance sheet.

The distinction determines whether the treasury model functions. At a premium, issuing shares to purchase Bitcoin increases Bitcoin held per share for existing holders. At a discount, the same transaction is dilutive. Sub-1.0 mNAV effectively suspended common-share issuance for Metaplanet in the second quarter.

The company announced BitBonds on 13 August, a continuous programme of senior unsecured ordinary bonds. The inaugural issuance comprised four privately placed series totalling approximately 200 million yen, or about $1.3 million. Metaplanet describes the programme as converting treasury value into fixed-rate funding, and retains a target of 100,000 BTC by the end of 2026. The company has used 83% of a $500 million credit line reaching its current position.

Separately, a transfer of 5,014 BTC between wallets on 12 August prompted speculation of a sale. CEO Simon Gerovich confirmed the movement was a routine custody operation between Metaplanet-controlled addresses, with holdings unchanged at 43,000 BTC and total network fees of approximately $8.

Combined, bitcoin treasury companies face constrained equity issuance from below and index eligibility risk from above.

When Will MSCI Decide on the Strategy Index Removal?

MSCI will announce consultation results on 16 October 2026, with implementation at the November 2026 index review if the proposal is adopted.

• 30 September 2026: Consultation feedback closes
• 16 October 2026: MSCI publishes results and final methodology
• 11 November 2026: Implementation at the November index review, subject to adoption

MSCI has stated that any resulting changes would take effect no earlier than the November 2026 review, and that the proposal may not be adopted. The provider declined to implement its previous consultation following industry feedback.

How Is the Bitcoin Price Trading During the MSCI Consultation?

Bitcoin is trading at $63,058.36, down 2.94% on the week and 27.94% year to date.

$Bitcoin holds a market capitalisation of $1.26 trillion and is up 0.20% on the day. $Ethereum trades at $1,881.02, up 0.50% on the day and down 36.60% year to date, with a market capitalisation of $227 billion.

Across the remaining large caps:

• $BNB: $611.23, up 0.53% on the day and 2.84% on the week
• $XRP: $1.00, down 0.17% on the day and 45.38% year to date
• Solana ($SOL): $75.38, down 0.19% on the day, up 0.94% on the week
• TRON ($TRX): $0.3323, up 16.91% year to date
• Hyperliquid ($HYPE): $56.24, up 121.18% year to date
• Dogecoin ($DOGE): $0.07012, up 0.67% on the day, down 40.22% year to date

Below the top ten, Chainlink ($LINK) leads weekly performance at $9.41, up 14.07% over seven days, followed by Monero ($XMR) at $407.32, up 7.29%. Cardano ($ADA) is the weakest major at $0.1797, down 10.07% on the week and 46.00% year to date.

A declining bitcoin price reduces the premium investors assign to treasury company equity, which compounds the funding constraint these firms face independently of index eligibility.

What Does the MSCI Proposal Mean for Bitcoin Treasury Companies?

The consultation raises a structural question about whether asset-holding vehicles belong in equity indexes, with implications extending beyond the three companies currently flagged.

If MSCI adopts the screen, affected companies have limited remedies. The five ratios assess operational activity rather than asset composition, and standard capital management measures do not change the outcome.

If MSCI declines to adopt it, the provider retains the constraints imposed in January 2026, which continue to limit index weighting increases for bitcoin treasury companies.

The US Securities and Exchange Commission was supposed to take the single biggest step in its 90 year history toward governing digital assets through rules rather than lawsuits. Instead, on the evening of August 13, it quietly cancelled the meeting.

The vote was scheduled for Friday, August 14 at 10:00 a.m. ET. The agenda had one item on it: whether the Commission should issue a release proposing a tailored offering regime for certain investment contracts involving crypto assets. That item, known across the industry as Regulation Crypto, is now sitting without a date.

What exactly was cancelled

The agenda item was listed formally as Regulation Crypto Assets, assigned to the SEC's Division of Corporation Finance. The three member commission, all Republicans under Chair Paul Atkins, was expected to vote on whether to publish the proposal for public comment.

Regulation Crypto is not a single rule. Based on the framework Atkins previewed earlier in the year, it carries three components:

• A startup exemption letting early stage crypto projects raise capital without triggering full securities registration
• A fundraising exemption covering capital raised for network development
• A safe harbor for teams decentralising a network away from managerial control

For crypto builders, that combination is the whole ballgame. It is the difference between raising in the US and raising offshore.

The SEC's explanation was one sentence long. An agency spokesperson said the meeting was being moved "due to an unforeseen scheduling issue" and would be rescheduled to a later date. The Sunshine Act cancellation notice, signed by Secretary Vanessa Countryman, gave no replacement date at all.

Why this is not the same as withdrawal

It is worth being precise here, because a lot of the reaction has been louder than the facts warrant.

The proposal is still alive on paper. The federal regulatory review system lists the SEC's Crypto Assets proposal, RIN 3235-AN38, as pending review. The text was received on August 12, two days before the planned meeting, and it carries no legal deadline. The SEC has delayed a vote, not killed a rule.

What it has done is remove any visible timeline. Announcing the meeting on August 10 with unusually short notice, then scrubbing it three days later with no reschedule, is not the behaviour of an agency confident in its own calendar.

The CLARITY Act problem sitting underneath all of this

The cancellation matters mostly because of what it lands on top of.

The Digital Asset Market Clarity Act has been the industry's preferred route to a permanent framework. It cleared the House 294 to 134 in July 2025 and the Senate Banking Committee 15 to 9 in May 2026. Then it stopped.

The Senate never brought it to a floor vote before leaving for its five week August recess. There was not enough time for floor debate, amendments and a 60 vote cloture threshold, and the unresolved fights over ethics provisions and stablecoin yield were never settled. Cloture is now set to ripen on September 15, after lawmakers return.

Prediction markets have priced the outcome accordingly, with CLARITY passage odds sitting around the low twenties in percentage terms. Bernstein put the 2026 chance at roughly 30% earlier this month, citing Galaxy Research odds.

That leaves both routes to regulatory certainty stalled at the drafting stage. Congress has a bill, not a law. The SEC has a proposal, not a rule. Neither binds anyone today.

The distinction that actually matters: rule versus statute

There is a reason the industry wanted CLARITY rather than agency rulemaking, and the cancellation makes that reason concrete.

A formal SEC rule adopted through notice and comment is binding law, and it survives a change of administration. But a future commission can open a new rulemaking to revise or repeal it. A statute requires an act of Congress to change. Atkins himself has repeatedly made this point, describing agency rulemaking as a head start on legislation rather than a substitute for it.

There is also a jurisdictional hole that Regulation Crypto cannot fill. Even if the SEC eventually adopts it, the boundary between SEC and CFTC authority over spot markets stays unresolved. Only Congress can draw that line.

Watch the CFTC, not just the SEC

The timing here is what has industry observers talking. Six days after the cancelled SEC vote, the CFTC holds its inaugural Innovation Advisory Committee session on August 20, under the banner "From Uncertainty to Clarity."

Under Acting Chairman Caroline Pham, the CFTC has already produced the first listed spot crypto trading on regulated exchanges and moved toward onshoring perpetual futures. CFTC Chair nominee Michael Selig has warned that if CLARITY fails, regulators will simply accelerate their own rulemaking rather than wait.

Read the two events together and a pattern appears: securities-law-led oversight pausing, commodities-led oversight advancing. Whether that is deliberate or coincidental, it shifts where the next set of rules is likely to come from.

Market reaction: soft, not panicked

Crypto did not crash on the news, but it did not shrug it off either. Bitcoin slipped below $63,000 for a second consecutive session on Friday, hitting an intraday low near $62,470 before stabilising. Spot Bitcoin ETFs posted $131 million of outflows on August 13, and roughly $192 million across two days, the first back to back drawdown since late July.

Coinbase and Robinhood shares, both heavily exposed to tokenisation, fell on the day. Weaker US consumer confidence and soft retail sales added to the pressure. The Fear and Greed Index sat at 29, firmly in fear territory.

Here is where the majors stand at the time of writing:

• Bitcoin (BTC): $63,058.36, up 0.20% on the day, down 2.94% on the week and down 27.94% year to date, market cap $1.26 trillion
• Ethereum (ETH): $1,881.02, up 0.50% on the day, down 1.80% on the week and down 36.60% year to date
• BNB: $611.23, up 0.53% on the day and up 2.84% on the week
• XRP: $1.00, down 0.17% on the day and down 45.38% year to date, the weakest large cap of 2026 so far
• Solana (SOL): $75.38, down 0.19% on the day but up 0.94% on the week
• TRON (TRX): $0.3323, one of only two majors in positive territory year to date at plus 16.91%
• Hyperliquid (HYPE): $56.24, up 121.18% year to date and comfortably the best performer in the top ten
• Dogecoin (DOGE): $0.07012, up 0.67% on the day and down 40.22% year to date

Below the top ten, Chainlink is the standout with a 14.07% weekly gain to $9.41, and Monero is up 7.29% on the week at $407.32. Cardano is the notable laggard, down 10.07% over seven days to $0.1797 and down 46.00% for the year.

The read across is fairly clean. Total market cap is drifting lower while Bitcoin dominance holds above 56%, which suggests capital is leaving rather than rotating. That is what a market without a catalyst looks like, and regulatory clarity was supposed to be the catalyst.

Apple is pairing its in-house model with Alibaba’s Qwen as it prepares to bring Apple Intelligence to Chinese iPhones.

The filing would turn raw footage into labeled clips of who did what, without anyone opting in.

The proposed World Liberty Trust Company would take over issuance of the USD1 stablecoin from BitGo.

A hacker is reportedly selling personal and financial records tied to more than 678,000 taxpayers and businesses in France.

The Chinese lab says the release beats comparably sized open models on code benchmarks. The blog's own numbers show it trails the closed frontier and at least one open rival.

Veteran trader Peter Brandt has once again taken aim at XRP, dismissing the cryptocurrency and saying he would immediately convert even a 500,000-XRP position into Bitcoin.

Binance's CZ discusses Bitcoin's growing scarcity, suggesting that the number of tokens left in the Bitcoin available supply may be lower than expected.

XRP community watches closely with Ripple CEO Brad Garlinghouse set to discuss financial infrastructure at key event.

Bitwise's CEO has revealed rising institutional interest in the company's Chainlink ETF as inflows begin to rise beyond previous levels.

Ripple CTO emeritus, David Schwartz explains the reasoning behind proof-of-work (PoW) forks.

TLDR:

• Coinbase Bitcoin Premium Index stays negative for 90 days, pointing to weaker U.S. buying demand.
• Bitcoin holds near $63,000 despite Coinbase trading below Binance on the premium index.
• Michaël van de Poppe identifies $63,400 as key resistance for Bitcoin’s next potential move.
• Crypto Rover’s cycle analysis points toward a possible Bitcoin bottom before October.

Bitcoin faces a persistent demand signal as the Coinbase Bitcoin Premium Index records its longest negative streak on record. The index has remained below zero since May 19, reaching roughly -0.1066% on August 16.

Bitcoin continues trading near $63,000 despite weaker buying pressure on Coinbase compared with Binance. The reading comes as market sentiment remains cautious, with the Crypto Fear and Greed Index at 34.

Coinbase Bitcoin Premium Index Signals Uneven Bitcoin Demand

Market expert JohnNguyen reported that the Coinbase Bitcoin Premium Index has stayed negative for 90 consecutive days. The streak runs from May 19 through August 16, marking the longest negative period recorded for the indicator.

The index currently sits near -0.1%, showing that Bitcoin trades at a relative discount on Coinbase versus Binance. That difference points to weaker U.S. buying demand or stronger selling pressure on the U.S.-based exchange.

JohnNguyen noted that the prolonged discount reflects differences in buying demand between major Bitcoin markets. The data also puts U.S. sentiment and capital flows under closer focus without confirming institutional outflows.

Bitcoin has still held near $63,000 despite the persistent Coinbase discount. Meanwhile, the Crypto Fear and Greed Index remains at 34, placing market sentiment within the fear range.

Bitcoin Price Faces $63,400 Resistance as Cycle Debate Grows

Top analyst Michaël van de Poppe identified $63,400 as the immediate resistance level for Bitcoin. According to his market analysis, a break above that level could open a move toward $64,600 or higher.

Van de Poppe also pointed to liquidity below $62,250 as an area worth watching during a potential pullback. He identified the $60,500 to $61,000 region as another key zone if Bitcoin moves lower.

The analysis places Bitcoin between nearby liquidity levels while traders assess whether the current bounce can continue. A sustained move above $63,400 remains central to the bullish setup outlined by Van de Poppe.

Another analyst, Crypto Rover, offered a separate view based on Bitcoin’s historical macro cycle durations. His analysis compared previous 1,065-day bull markets with 365-day bear markets across earlier Bitcoin cycles.

Crypto Rover said the current pattern could place Bitcoin’s next cycle bottom before October. That projection remains a historical-cycle comparison rather than confirmation of a future Bitcoin price move.

The post Bitcoin Hits 90-Day Coinbase Discount as $63.4K Blocks Bulls appeared first on Blockonomi.

Key Highlights

• Gen Z equity trading volume included 25% ETF allocations on Binance in early August, climbing from 21.9% the previous month
• Younger investors executed just 13 monthly TradFi perpetual trades compared to Millennials’ 17 and Gen X’s 16.5
• Among Gen Z direct-equity investors, 22% have never executed a sell transaction
• Popular holdings for Gen Z buy-and-hold accounts include Broadcom, Tesla, and Schwab U.S. Dividend Equity ETF
• Binance’s bStocks temporarily surpassed Kraken’s xStocks as the second-largest tokenized equity platform before falling back

According to fresh data released by Binance Research, Gen Z investors using the platform are allocating larger portions of their portfolios to exchange-traded funds while executing fewer transactions compared to their older counterparts.

The research shows that ETFs represented 25% of Gen Z equity trading activity during early August. This marks an increase from the 21.9% of net equity capital flows recorded in July and 18.5% observed in June.

During this same timeframe, the proportion directed toward individual company stocks declined from 77% in June to 74.2% by July.

Younger Investors Show Lower Trading Frequency and Higher Hold Rates

The exchange analyzed trading patterns across multiple generations including Gen Z, Millennials, Gen X, and Baby Boomers. The analysis examined direct equity positions, tokenized stock products, and traditional finance perpetual contracts.

Gen Z investors completed an average of 13 monthly transactions in TradFi perpetuals. By comparison, Millennials executed 17 trades while Gen X completed 16.5.

Within Gen Z direct-equity portfolios, 22% had not executed a single sell transaction. This compares to 19% for Gen X investors and only 9% among Baby Boomers. Interestingly, Millennials demonstrated the highest percentage of buy-only portfolios at 30%.

The most popular holdings among Gen Z buy-only portfolios included Broadcom, Tesla, and the Schwab U.S. Dividend Equity ETF.

The exchange did not clarify whether this buy-only pattern represents a deliberate long-term investment philosophy. Since Binance’s direct-equities offering only debuted in June, the available data represents a limited timeframe.

Limited Appetite for Leveraged ETF Products

Younger investors demonstrated minimal engagement with leveraged and inverse ETF products. The research indicated that 88.2% of Gen Z TradFi perpetual portfolios showed zero activity in these instruments.

This percentage was comparatively lower among Millennials at 84.5% and Gen X at 85.9%, indicating Gen Z demonstrated the least participation in leveraged ETF trading across working-age demographics.

The exchange did not provide analysis on the underlying factors driving this disparity, whether related to risk management preferences, product access restrictions, or other considerations.

The tokenized equity market experienced continued expansion throughout this timeframe. RWA.xyz data showed $2.37 billion in distributed tokenized stock valuation as of Saturday, representing approximately 5% growth over the previous 30-day period.

Binance’s bStocks platform temporarily overtook Kraken’s xStocks to claim the second-largest position among tokenized stock providers. During its peak, bStocks commanded approximately $624 million compared to xStocks’ $579 million.

As of Saturday, xStocks had regained the lead with $603 million, while bStocks dropped to $535 million. Ondo Finance maintained its position as the dominant issuer with $962 million.

The overall market has experienced substantial user base expansion. DWF Labs reported in July that holder counts across five leading tokenized stock platforms surged 92% within 30 days, reaching 752,000 total holders.

Robinhood commanded the largest holder base with 328,000 users but maintained just $44 million in tokenized stock valuation. Meanwhile, Ondo controlled $857 million and xStocks maintained $487 million during that period.

Crypto.com has also launched its entry into this sector, introducing tokenized derivatives linked to 1,500 U.S. equities and ETFs for qualified users across the European Economic Area and additional authorized jurisdictions.

The post Gen Z Investors Favor ETFs and Buy-and-Hold Strategy on Binance, New Data Reveals appeared first on Blockonomi.

Quick Overview

• Bitcoin maintains its position near $63,000, serving as the primary market indicator for digital assets
• Ethereum dropped under $1,900, yet U.S. ETF products attracted $103.9 million in net inflows over one week
• Solana expanded block capacity to 100 million compute units while hovering around $75
• Chainlink approached $10 after announcing new partnerships and releasing its agent platform beta
• Hyperliquid posted approximately 154% gains during the first six months of 2026

Cryptocurrency markets are experiencing turbulence, yet price declines often create opportunities for strategic investors. Five digital assets—Bitcoin, Ethereum, Solana, Chainlink, and Hyperliquid—deserve attention in the current environment.

Bitcoin: The Industry Standard

Bitcoin continues to serve as the cornerstone of cryptocurrency investing. With the most extensive network infrastructure, unmatched brand awareness, and significant institutional support, it remains the dominant digital asset.

BTC currently hovers around $63,000. Market liquidity constraints and general uncertainty have contributed to price pressure, though this correction may present entry points for investors viewing Bitcoin as a long-term wealth preservation tool.

While Bitcoin may not deliver the dramatic gains seen in smaller-cap projects, it presents significantly lower project-specific risks, solidifying its role as the standard against which all cryptocurrencies are evaluated.

Ethereum: Sustained Institutional Appetite

Ethereum serves as the backbone for decentralized finance protocols, stablecoin infrastructure, asset tokenization, NFT marketplaces, and countless decentralized applications. It maintains its position as the leading smart contract platform globally.

ETH slipped beneath $1,900 during recent market volatility. However, institutional interest proved resilient. U.S.-based Ethereum ETF products recorded $103.9 million in net inflows for the week concluded July 24, topping all cryptocurrency ETF products during that timeframe.

The convergence of robust developer engagement, powerful network effects, and growing institutional participation positions Ethereum as a priority holding for long-term portfolios.

Solana: Speed, Efficiency, and Momentum

Solana presents a direct alternative to Ethereum, particularly for applications requiring high throughput and minimal transaction costs. The platform recently upgraded its block capacity to accommodate 100 million compute units.

The ecosystem continues expanding across payment solutions, tokenized real-world assets, and interoperability protocols. SOL traded around $75 in mid-August, considerably below previous all-time highs.

This disparity between current valuations and historical peaks may represent an entry opportunity for investors confident in the platform’s continued development trajectory.

Chainlink: Critical Infrastructure Investment

Chainlink provides essential connectivity between blockchain networks and external data sources while facilitating cross-chain asset transfers. It functions as fundamental infrastructure supporting the emerging tokenization ecosystem.

LINK surged toward $10 in mid-August following announcements of additional CCIP integrations and the beta release of Chainlink for Agents. These milestones demonstrate ongoing platform evolution and expansion.

Should tokenized assets achieve widespread adoption in traditional finance, Chainlink is well-positioned to capture value as a critical infrastructure provider supporting this transformation.

Hyperliquid: Aggressive Growth with Elevated Risk

Hyperliquid represents the highest-risk proposition in this selection. The decentralized perpetual futures exchange has experienced rapid expansion, with HYPE appreciating approximately 154% during the first half of 2026.

Such performance establishes elevated expectations going forward. Planned token unlock schedules and regulatory ambiguity introduce risks requiring careful consideration.

Nevertheless, Hyperliquid demonstrates that decentralized trading infrastructure can effectively challenge centralized exchange dominance in the cryptocurrency derivatives market.

The post Top 5 Cryptocurrencies to Monitor in 2026 Amid Market Correction appeared first on Blockonomi.

Key Takeaways

• Bitget will enforce compliance measures against 16 crypto platforms including HTX and EXMO in three phases: August 7, 13, and 23.
• The restrictions align with Binance’s actions and respond to US OFAC sanctions plus the EU’s 21st Russia sanctions framework.
• HTX disputes the limitations, with Justin Sun claiming they impact only UK and EU users, as settlement negotiations proceed.
• Bitget’s Stock Dual Investment offering has grown from 6 to over 20 U.S. stock and ETF-linked tokens.
• Available assets include tokens tracking Nvidia, Tesla, Apple, Coinbase, Meta, and leveraged semiconductor ETFs.

This week, Bitget executed two significant strategic initiatives: implementing stricter compliance measures against sanctioned cryptocurrency platforms while simultaneously broadening its stock-linked investment offerings for non-US users.

Bitget Implements Restrictions Following Binance’s Lead

The cryptocurrency exchange announced it will implement enhanced compliance protocols targeting 16 designated platforms across three distinct phases.

Phase one, launched August 7, affects Aban Tether Exchange and Shelbit. Both platforms face US OFAC sanctions for allegedly facilitating cryptocurrency transactions related to Iran sanctions circumvention, including transfers associated with the Islamic Revolutionary Guard Corps.

Phase two, scheduled for August 13, encompasses A7 Africa, A7 Nigeria, and PilotFinance Ltd.

Phase three, the most extensive rollout on August 23, includes HTX, EXMO, ABCeX, Aifory Pro, BitPapa, Exnode, Monease, NoOnecrypto, Rapira, Tradex, and WhiteBird. These entities are covered under the EU’s 21st Russia sanctions framework, which was implemented in July 2026.

Just one day prior, Binance disclosed nearly identical measures, targeting the same entities with matching implementation dates. This synchronized approach indicates both platforms are responding to shared regulatory mandates.

According to Bitget’s announcement, transactions involving any listed entity may result in rejection, account investigation, or closure.

HTX has challenged these measures. On X, Justin Sun stated the restrictions affect only UK and EU users, regions where HTX claims it doesn’t operate.

UK authorities countered this position. The Office of Financial Sanctions Implementation determined the designation applies to HTX’s platform due to its ownership by Huobi Global SA. HTX confirmed ongoing settlement discussions with both UK and EU regulatory bodies.

Stock Dual Investment Portfolio Grows to Over 21 Tokens

In parallel developments, Bitget announced on August 14 an expansion of its Stock Dual Investment portfolio, increasing from 6 offerings to more than 21 products in less than a month since its July 25 debut.

The expanded lineup features tokens tied to Nvidia, Tesla, Apple, Meta, Advanced Micro Devices, Intel, Taiwan Semiconductor, Coinbase, Circle, and Strategy. Additionally, users can access two leveraged semiconductor ETF tokens: rSOXL and rSOXS.

The Buy Low mechanism allows participants to subscribe using USDT, select a target price, and acquire the token if that price is reached at settlement. Otherwise, they receive their USDT plus accrued interest. The Sell High mechanism operates inversely, with participants staking tokens and receiving USDT upon reaching the price target.

Settlement timing has been adjusted to 11:30 p.m. UTC+8, positioning it 90 minutes following the 9:30 a.m. ET opening of the Nasdaq and NYSE.

The platform categorizes Dual Investment as a non-principal-guaranteed instrument. Capital remains locked until expiration, and participants may receive different assets than initially subscribed depending on market movements.

In July, Bitget CEO Gracy Chen revealed tokenized traditional assets represented 20 to 30 percent of spot trading volume during the previous quarter, with stock-linked products surpassing $100 million in aggregate volume.

US residents currently cannot access the Stock Dual Investment product. Chen indicated the company intends to secure US money-transmitter, derivatives, and broker-dealer licenses before offering services to American clients, though no timeline has been announced.

The post Bitget Enforces Sanctions on 16 Crypto Platforms While Adding 20+ US Stock Tokens appeared first on Blockonomi.

Key Takeaways

• Former Binance CEO CZ highlights that wealthy individuals may be priced out of owning a complete Bitcoin
• Mining has already released over 20.07 million coins from Bitcoin’s 21 million maximum supply
• Between 10-20% of all mined Bitcoin could be permanently lost, according to CZ’s estimates
• America’s 23.6 million millionaires outnumber the entire Bitcoin supply available
• Binance announces transaction restrictions affecting 16 cryptocurrency exchanges due to sanctions

With Bitcoin hovering around the $63,000 mark, fresh commentary from a prominent industry figure is reigniting discussions about the cryptocurrency’s increasing scarcity.

Changpeng Zhao, commonly referred to as CZ, sparked widespread conversation this week through a post on X suggesting that wealthy individuals may soon find themselves unable to purchase one complete Bitcoin. His remarks came as a response to cryptocurrency researcher Quinten Francois, who highlighted that the United States is home to approximately 23.6 million millionaires—a figure that surpasses Bitcoin’s absolute ceiling of 21 million tokens.

The former Binance chief’s message was straightforward: the mathematics simply don’t support enough complete coins for America’s millionaire population alone.

Current data from August 2026 indicates approximately 20.071 million Bitcoin have entered circulation through mining operations. This leaves a mere 929,000 coins remaining before the network reaches its programmed maximum. With such constrained availability, demand for whole Bitcoin units is positioned to intensify dramatically.

Permanently Inaccessible Coins Compound the Shortage

CZ introduced an additional dimension to the scarcity discussion by estimating that 10% to 20% of all existing Bitcoin may be irretrievable—locked in wallets where private keys have been lost or otherwise made permanently inaccessible. Should these estimates prove accurate, the real available supply for potential buyers could be substantially smaller than circulation statistics indicate.

This topic surfaced earlier when CZ engaged with Bitcoin researcher Willy Woo in early August. Woo presented research indicating 1.57 million Bitcoin had been lost through individual custody methods, versus 1.51 million lost via exchange platforms. CZ responded by suggesting that exchange storage demonstrated statistically better safety than self-custody approaches, while conceding both storage methods involve inherent risks.

Bitcoin’s price fluctuated between $62,525 and $63,171 during the preceding 24-hour period as of August 15. The cryptocurrency has experienced approximately a 3.1% decline across the previous week. It currently sits roughly 50% beneath its record peak of $126,080, established in October 2025.

CZ’s scarcity observations have also revived interest in his extended price projections. During July, he presented a theoretical pathway for Bitcoin reaching $1 million during the 2033 market cycle. He characterized this as a plausible outcome dependent on sustained mainstream adoption rather than a definitive forecast. Ark Invest’s Cathie Wood and Mexican entrepreneur Ricardo Salinas Pliego have voiced comparable price expectations.

Binance Implements Restrictions on 16 Exchange Platforms

In developments unrelated to supply concerns, Binance revealed this week its decision to terminate transaction processing with 16 cryptocurrency exchanges. This action relates to the European Union’s 21st sanctions package targeting Russia and two organizations identified by the U.S. Treasury Department on August 7.

Impacted exchanges include HTX and EXMO among others. The enforcement timeline features phased implementation, with the final batch of 11 platforms subject to restrictions beginning August 23. These measures apply universally across Binance’s global user base.

The convergence of diminishing Bitcoin availability and Binance’s regulatory compliance actions encapsulates the cryptocurrency sector’s present reality: contracting asset accessibility alongside escalating regulatory oversight.

The post Bitcoin (BTC) Scarcity Crisis: CZ Warns Millionaires May Be Priced Out of Whole Coins appeared first on Blockonomi.

As it happened during the past few weekends, bitcoin’s price volatility has essentially disappeared once Saturday and Sunday come, with the asset remaining stuck at $63,000 for roughly 36 hours now.

Most altcoins have performed similarly, which is why we will focus on their weekly moves. Some of the major gainers here are XMR, LINK, WLD, and WLFI.

BTC Stuck at $63K

As mentioned above, the previous weekend was also dull in terms of price action. However, it was more positive as the primary cryptocurrency had shrugged off the weekly losses and stood at around $65,000. The tides turned on Monday morning when it tried to break out, but it was halted at $65,400.

The subsequent leg down was painful as it pushed it to $63,800. After a couple of recovery attempts to $64,400, the bears resumed control once again. This time, they were even more persistent, pushing it to under $63,000 on Thursday. The same scenario repeated with lower highs, and BTC slumped once again on Friday to a 10-day low of $62,500.

As such, the asset had lost roughly $3,000 since the start of the week. The bulls finally intervened after this steep decline, given the current sluggish market environment, and helped it recover to $63,000, where it has remained for the past day and a half.

Its market capitalization remains at $1.265 trillion on CG, while its dominance over the alts is still below 57%.

Weekly Gainers and Losers

The weekly scale is quite contrasting, but red tends to dominate. Ripple’s XRP dipped below $1.00 on a couple of occasions in the past week and it has managed to remain at precisely that level as of now after a 3.5% dip since last Sunday. ETH is below $1,900 following a 1.6% decline.

Even more losses come from ADA (-10.6%), UNI (-18%), DOT (-7%), BCH (-5.5%), HBAR (-6.6%), and ZEC (-5%). In contrast, WLFI and WLD are the two top gainers from the larger caps, both surging by over 13% since last Sunday. LINK has jumped by 13% to $9.4. XMR (7.7%) and HYPE (4%) follow suit.

The total crypto market cap has remained sideways at around $2.230 trillion on CG.

The post Biggest Weekly Alt Gainers and Losers Revealed as BTC Stalls at $63K: Weekend Watch appeared first on CryptoPotato.

After several months of flirting with the psychological support level at $1.00, Ripple’s XRP finally dipped below it on a couple of occasions in the past week, which aligned with many analysts’ expectations for such a move before a major rebound.

However, some of the same analysts have been publishing controversial opinions on where the token’s bottom lies. Consequently, we decided to ask ChatGPT about its take on the matter and whether it believes XRP has finally reached a macro bottom.

In or Not In?

Zooming out, the decline to a 21-month low of just under $1.00 points to a rapidly deteriorating market structure, meaning that XRP has plunged by 70% since its all-time high, which was marked 13 months ago. The positive side is that the token managed to rebound and continues to fight for this psychological support, and has yet to give it up entirely.

ChatGPT’s answer was not as straightforward and hopeful as the bulls might have liked. It noted that there’s a big possibility the bottom could be in or just inches away due to several factors. The first is simply the magnitude and duration of the correction.

The cross-border token has been freefalling for almost a year, producing a succession of lower highs and lower lows. All of its recovery attempts have been halted in its track, and it continues to close in the red monthly, with almost no exceptions.

There are some encouraging signs as well. As reported recently, the number of wallets holding at least a million XRP has increased by 32 over the past three months. Network usage, such as the number of active XRP addresses, jumped from under 24,000 to more than 43,500 within a month or so.

Still Premature

Despite all of the above, ChatGPT remains cautious about concluding that the bottom is in, as it sees another plausible leg down. For instance, XRP’s Taker Buy/Sell Ratio on Binance recently hit a multi-month low of 0.86, showing that there are more aggressive sellers than buyers on the world’s largest exchange.

Rising futures positioning also increases the danger of another move south that can trigger a liquidation cascade. Lastly, the popular AI model outlined other analysts’ observations that the next important area for XRP lies at $0.94-$0.95. A break below that could lead to more profound losses and a dump to $0.80-$0.85.

As such, ChatGPT’s conclusion is that the bottom is ‘possibly’ in. However, there’s no confirmation yet, even though there is a ‘reasonable’ case that the sub-$1.00 dip marked, or came very close to, a local capitulation bottom.

The post We Asked ChatGPT: Is XRP’s Bottom Finally In After the Crash Below $1? appeared first on CryptoPotato.

The meme coin mania is long gone and perhaps forgotten, as evidenced by the substantial decline in the price of its leader. DOGE recently slumped below $0.07 for the first time in almost three years, a level that it’s still unable to reclaim.

Although it remains 90% away from its 2021 all-time high, several popular analysts believe precisely these depressed conditions could be setting it up for the next major expansion wave.

Is DOGE About to Go Parabolic?

Starting with Ali Martinez, who told his over 165,000 followers on X that several indicators have aligned to support a bullish thesis for DOGE. First, he argued that the OG meme coin has approached a parabolic phase after the asset returned toward the bottom of the large price channel that has contained its movements for years.

As recently reported, Martinez also claimed that Dogecoin’s weekly TD Sequential indicator has produced multiple consecutive buy signals. This is a rather unusual occurrence that the analyst described as a potentially important warning of an upcoming rally.

The network activity has improved significantly as well, with active DOGE addresses jumping by double digits from 38,000 in July to 44,000 earlier this month.

The analyst’s broader argument is based heavily on the meme coin’s historical behavior. It has repeatedly spent extended periods consolidating near the bottom of long-term structures before eventually producing explosive rallies. Of course, investors should be aware that historical performance is no indicator of future price moves. Nevertheless, DOGE being at $0.07 again means that the risk/reward equation has changed substantially from the euphoric stages of previous runs.

Further Support

Martinez is not the only analyst bullish on DOGE. Crypto Patel also highlighted the asset’s current position within its long-term accumulation structure. He repeatedly identified the $0.07-$0.10 region as DOGE’s major accumulation zone and believes another successful hold could eventually pave the way toward much more ambitious targets.

Some of his long-term projections sound quite far-fetched at the moment, as the highest is at $4. To get there, though, the meme coin would have to tap $0.28, which is the most realistic one, before it targets new all-time high territory at $1 and $2.

Popular trader Lucky told his almost two million followers to “keep an eye” on the largest and first meme coin, suggesting it could produce a considerable run over the coming weeks and months.

The post Is Dogecoin About to Go Parabolic? These DOGE Signals Suggest So appeared first on CryptoPotato.

Exchange-traded funds (ETFs) took 25.0% of Gen Z equity trading volume on Binance in the first days of August, up from 14.6% in June.

According to a Binance Research report published on August 12, millennials directed 9.5% of their early-August equity volume to the same instruments. Unleveraged ETFs drew 18.5% of Gen Z net equity inflow in June and 21.9% in July, while the single-stock share fell from 77.0% to 74.2%.

Report author Lim Kim Thye cautioned that “two months is not enough to establish a trend.”

The Money That Stayed

Binance opened direct stock trading in June 2026, and its tokenized US equities reached $100 million in assets under management within two weeks of launch, with 47% of trading activity outside regular US market hours.

Gen Z’s total net equity deployment fell 17.4% in July. Net inflow to unleveraged ETFs slipped 2.0% over the same period, against 20.4% for single stocks and 28.5% for leveraged products.

Interestingly, Gen Z was the only cohort whose ETF holder base grew, rising 2.9%, while Millennials fell 4.5% and Gen X fell 5.9%. Its ETF buyers traded the least in July at 7.9 times against 10.3 for Millennials. Across the sample, ETF buyers held 1.4 to 1.6 fund symbols each, and in the June cohort, positions averaged 10 to 14 days, with 36% to 45% still open at the snapshot.

Ticket sizes ran in the same direction. The largest average buys in direct equities went to the dividend ETF SCHD at $16,567 per trade and Broadcom (AVGO) at $12,370, while the smallest went to the best-known names, Tesla (TSLA) at $633 and Nvidia (NVDA) at $514 in stocks.

Almost No Leverage

Leveraged and inverse ETFs made up 9.25% of Gen Z direct-equity turnover in July but 3.93% of net monthly inflow, a share that has fallen from 4.55% in June to 2.65% in the opening days of August. “Gen Z does not appear to be committing capital to leveraged exposure,” the report stated.

But 88.2% of Gen Z accounts recorded no leveraged or inverse activity in TradFi-Perps, against 84.5% of Millennials and 85.9% of Gen X. In direct equities, the figure is 96.5%, though Baby Boomers lead every product and reach 98.9% there.

Gen Z averages 13 trades a month on perpetuals against 17 for Millennials, and 22% of its direct-equity accounts have never placed a sell order, behind Millennials at 30%.

The post Binance Research: Gen Z Lifted ETFs to 25% of Its Equity Volume in August appeared first on CryptoPotato.

Bank Leumi will offer Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) trading to roughly 2.5 million retail customers from early 2027 through a partnership with Galaxy Digital (GLXY), the two companies said on August 14, in what they describe as the first digital asset trading service offered by a bank in Israel.

Customers of Leumi and PEPPER (its mobile digital banking arm) will trade inside a dedicated, secured section of Leumi Trade, the bank’s capital markets application.

GalaxyOne Institutional supplies the trading platform, and custody runs on Galaxy’s custody infrastructure platform, formerly known as GK8.

“This initiative represents a significant pillar of the bank’s innovation strategy and enables us to provide customers with simple, secure, and regulated access to trading digital assets,” said Maya Ravia, Head of Strategy at Bank Leumi.

Regulator Blocked the 2022 Attempt

The plan is subject to approval by the Bank of Israel. Leumi and PEPPER announced a partnership with Paxos to offer BTC and ETH trading back in 2022, and that service never reached customers after the Bank of Israel declined to approve it.

Israeli rules have shifted since. The Bank of Israel’s Banking Supervision Department removed the automatic delay on deposits originating from crypto transactions above NIS 100,000 in mid-July.

Moreover, according to Chainalysis, Israel received roughly $22 billion in on-chain value in the 12 months to June 2025.

The Capital Market Authority has separately circulated a draft that would let licensed companies offer trading in the 50 leading digital assets, subject to a $500 million minimum market capitalization, limits on holder concentration, and registration in recognized jurisdictions, including the European Union and New York State.

Custody Traces Back to Celsius

Galaxy’s custody technology reached it through a bankruptcy. Celsius paid $115 million for GK8, a Tel Aviv custody firm, and Galaxy won the platform in the insolvency proceedings, adding about 40 staff and a Tel Aviv office. GK8 co-founder Lior Lamesh now runs Galaxy Israel.

“The future of finance will run on open, programmable rails, and we believe the banks that move first will define the era that follows,” stated Lior Lamesh, Chief Executive Officer of Galaxy Israel.

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