Marco Rubio directs diplomats to counter AI 'kill switch' narrative after Anthropic restrictions. The digital sovereignty debate carries major
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Trump and Xi plan a summit in Washington to ease tensions. Xi Jinping's visit to the U.S. before 2027 at 92.5% YES.
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US restricts access to Anthropic AI models, prompting global tech responses. Federal review of AI model releases by July 31 at 22.3% YES.
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Rubio met Wang Yi in Manila to prepare for Xi Jinping's US visit in September 2026. Crypto was absent from talks, signaling no near-term
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Uniswap's DualPool hook for v4 is audited and open source, letting LPs earn yield on idle assets in vaults while keeping liquidity available for
The post Uniswap’s DualPool hook audited and ready for deployment appeared first on Crypto Briefing.
Bitcoin Magazine

Coinbase Settles FOIA Fight With the SEC Over Gensler’s Vanished Texts
Coinbase has settled its Freedom of Information Act lawsuit against the Securities and Exchange Commission, closing a years-long fight that came to rest on a batch of text messages the agency admits it destroyed.
Chief legal officer Paul Grewal disclosed the deal in a Wall Street Journal op-ed on Wednesday.
Under the terms, Grewal wrote, the SEC will pay $150,000 and repair its record-retention policies.
The story behind the settlement is what gives it weight. Coinbase filed FOIA requests in 2023 for records that might show how the SEC decided to treat crypto as securities, the same question at the center of the enforcement suit the agency brought against the company that June.
Rather than hand over the files, the SEC denied the requests, and the case dragged into court.
The SEC’s own inspector general found that close to a year of former Chair Gary Gensler’s text messages, from October 2022 to September 2023, had been wiped after the agency reset his phone before a backup was made.
That window covered the collapse of FTX and the agency’s hardest push against crypto exchanges. The watchdog found that 38% of the recovered texts touched agency business, including a May 2023 exchange on the timing of enforcement against trading platforms.
Grewal built his case on a point that needs no legal training to feel. Under Gensler, the SEC had levied more than $1 billion in fines on financial firms for losing employee messages, and had said “everybody should play by the same rules.”
Yet it lost its own chair’s texts during the most consequential stretch in crypto’s short history. “The Gensler SEC destroyed documents they were required to preserve and produce,” Grewal wrote when the report landed. “We now have proof from the SEC’s own Inspector General.”
For Coinbase, the value was never the documents alone. The company had cast its transparency suits, including a challenge to the SEC and FDIC over pressure on crypto’s banking access, as proof that regulators leaned on the industry without clear rules. The SEC’s own case against Coinbase fell away in early 2025 under a new administration and a new chair.
The settlement doubles as a personal coda. Grewal, the lawyer who steered Coinbase through years of combat with the SEC, plans to leave the company at the end of July.
He closes this chapter with a small check, a promise of better filing habits, and a story the industry will carry for a long time: that the recordkeeping enforcer could not keep its own records.
This post Coinbase Settles FOIA Fight With the SEC Over Gensler’s Vanished Texts first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
Bitcoin Magazine

VanEck: Bitcoin’s Summer Lull Masks a Tightening Supply Base
Bitcoin spent the past month in a holding pattern around $63,700, and VanEck’s latest Bitcoin ChainCheck reads the setup as a cautious pause rather than a bottom, with derivatives flashing fear, miner economics near multi-year lows, and long-term holders tightening their grip.
The mid-July report frames the moment as consolidation, not recovery. Bitcoin closed July 12 at $63,742, flat against a month earlier yet 33% off its six-month high and 14% below its 200-day moving average near a bitcoin price of $74,000.
The pause caps two monthly declines, a 3.6% dip in May and a 20.5% drop in June.
Trading thinned into the summer. Spot volume averaged about $5.1 billion a day over the 30-day window, down near 29% from the post-2019 norm, a softness the firm notes has marked June through August in each of the past six years.
Realized volatility fell to 30.4% on an annualized basis, under the trailing-year 43% level and well beneath the long-run average near 81%.
VanEck reads the derivatives complex as defensive. The one-month put/call implied volatility skew widened to +11.4 percentage points, an 83rd-percentile mark since 2021, and traders appear content to fund put purchases with the sale of calls.
The firm reads that as fear rather than capitulation. Total options premium eased 23% to $613.6 million, and the put/call premium ratio climbed to 1.49, against an average near 0.71.
Perpetual-futures funding tells a similar story. The rate sits near +4.5% on a 30-day average, about half the long-run +8.4%, a sign that positioning stays far from bullish after a spring stretch in which traders were paid to hold shorts.
VanEck maps both signals to below-average forward returns across the 30-to-180-day window. It flags two markers of a true bottom that have not arrived: a skew past +15 points, or funding that flips negative. Until one appears, the firm sees near-term downside pressure over a quick rebound.
VanEck has pointed to negative funding as a bullish tell in past notes.
Demand ran negative on the month, a drop the report ties to exchange-traded product outflows. U.S. spot ETPs shed 40,010 BTC, worth about $2.40 billion, while corporate treasuries added 2,343 BTC and miners kept 1,204 BTC. Exchange balances rose to fill the gap.
The report also charts shaken confidence among digital asset treasuries after Strategy used $1.38 billion to retire convertible notes, a move that left the company with a $900 million reserve and pushed it to its first bitcoin sales since 2022. Those sales, VanEck writes, fed the negative flows across the treasury cohort.
The on-chain picture cuts the other way. The share of bitcoin held longer than a year reached 60.8% of supply, a figure that has climbed through the price drop from 59.1% six months earlier. Another 17.7% of supply sits in the six-to-twelve-month band, coins that graduate into the long-term bucket if they stay put.
VanEck projects the long-term share reaches about 62% in three months and nears 63% in six. Regimes with a long-term share above 60% and rising have lined up with above-average returns across horizons in the firm’s tests, an echo of its prior finding that whales kept holding through the selloff.
Selling, the report finds, concentrates in the middle of the age curve, while the youngest and oldest coins stay still. Profitability metrics run cold, with net unrealized profit at the 17th percentile and 53% of supply in profit against a four-year average of 76%.
Miner economics form the report’s grimmest section. Network hash rate held near record highs around 930 EH/s as price fell, a mix that pushed implied hashprice to about $30.6 per petahash per second per day, near multi-year lows.
Daily miner revenue averaged $28.5 million, down 39.5% year over year, a level that puts lower-efficiency rigs at or below breakeven. Miner-held bitcoin stayed near 1.785 million, a sign of steady sales of new coins over capitulation.
The pivot to artificial-intelligence hosting runs through the section. VanEck highlights TeraWulf’s 20-year, $19 billion lease with Anthropic and CleanSpark’s $6.6 billion deal as top unlevered yields, part of a build-out the firm has tied to a $50 billion near-term funding gap.
Miner equities have dropped about 42% from 52-week highs on higher rates, a New York pause on data-center construction, and doubt over AI returns.
The firm keeps its conviction, and points to richer contract terms, new AI deals, and hyperscaler spending as reasons the de-rating overstates the risk.
It also notes bitcoin correlation across the group has stepped down, a sign the market prices the names on their own merits. That optimism is not universal across the market; some analysts have argued an AI pivot alone will not rescue struggling miners.
VanEck sees a market that leans toward soft returns over the near term, held back by cautious derivatives and weak miner cash flow, yet supported by a supply base that keeps tightening. For patient holders, the firm writes, the structural picture stays constructive.
This post VanEck: Bitcoin’s Summer Lull Masks a Tightening Supply Base first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
Bitcoin Magazine

Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting
Satsuma shareholders have voted to unwind the company’s bitcoin treasury and pull its shares off the London Stock Exchange.
At a general meeting on July 20, holders passed two special resolutions: one to return substantially all of Satsuma’s capital to shareholders, the other to cancel the company’s listing on the FCA’s Official List.
The capital return resolution carried 90.63% support, with 7,869,182,042 votes in favor against 813,703,719 opposed. The delisting resolution passed with near-identical margins, 90.59% in favor.
The board will now close out Satsuma’s trading operations and sell the company’s remaining bitcoin, roughly 668 BTC.
The stock had traded as Satsuma Technology PLC (LSE: SATS), one of the UK’s bitcoin treasury vehicles, second in size only to The Smarter Web Company.
A timetable set out in the June 24 shareholder circular governs the wind-down. The record time for entitlement to B Shares falls at 6 p.m. on August 3, the deadline for warrant holders to exercise their warrants if they want the resulting ordinary shares included in the capital return.
Once the total number of qualifying shares is fixed, Satsuma will petition the UK High Court to confirm the return of capital. A directions hearing is set for August 13, with a confirmation hearing to follow on September 8.
Under that schedule, the listing cancellation lands on September 14, and payments and CREST transfers go out by September 28.
The vote caps a run of trouble for a company that built its identity around holding bitcoin on a public balance sheet. Satsuma bought most of its coins at an average price above $113,000.
With bitcoin trading below $68,000 in July, the treasury sat on steep unrealized losses, and Satsuma’s shares fell more than 99% from their June 2025 peak near £14 to around 21 pence, a valuation below the worth of its own bitcoin holdings.
The company had already begun trimming its position under liquidity pressure. In December 2025, the company sold 579 of its 1,199 bitcoin for roughly £40 million, proceeds it used to retire £78 million in convertible loan notes that matured on December 31. That sale left the company with 620 BTC and about £90 million in cash.
By April, Pantera Capital, which held a 6% to 7% stake, was publicly pushing Satsuma’s board to sell its remaining bitcoin and hand the cash back to shareholders rather than persist as a listed treasury company.
That pressure, combined with a shareholder requisition from holders representing more than 20% of Satsuma’s issued capital, forced Wednesday’s vote.
The board itself split on the outcome. Four of six directors recommended shareholders reject the wind-down, arguing it would dismantle a listed bitcoin vehicle and close off the company’s existing strategy. Two directors backed the proposal, citing shareholder demand and the execution risk of continuing as a going concern.
Satsuma’s exit adds to a wave of distress among smaller bitcoin treasury companies as coin prices sit well below the levels at which many of them accumulated their holdings, leaving boards to choose between raising fresh capital or returning what remains to shareholders.
This post Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
Bitcoin Magazine

Bitcoin is NOT Changed by Proof Of Node
You might have heard about BIP-110; here’s why this fork is not just bad for Bitcoin, but it is built on a misunderstanding of what a Bitcoin node is and what it is good for. As well as why, because of this misunderstanding, BIP-110 will fail.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
BIP-110 is a Bitcoin Improvement Proposal titled as a Reduced Data Temporary Softfork. The BIP proposes a consensus change to Bitcoin, which attempts to limit the types and amounts of arbitrary data that can be added to consensus-valid transactions by limiting a wide range of Bitcoin’s scripting capabilities. BIP-110 is led by a pseudonymous developer known as Dathon Ohm and is widely supported by the Knots community, an alternative implementation of Bitcoin led by one of Bitcoin Core’s earliest contributors, Luke Dashjr and its supporters.
The BIP-110 consensus change is headed towards a mandatory signaling period in the coming weeks and thus a potential fork with the main consensus rules as implemented in Bitcoin Core. The proposal needs to gain a great deal of support from miners within the coming weeks to change Bitcoin consensus. As of the time of writing, miner signaling for BIP-110 stands at less than one percent.
The Knots community, widely made up of Bitcoiners running nodes on machines like Start9 and Umbrel, has rallied around Knots in protest of a series of development decisions made by Bitcoin Core, the primary open source development community and reference implementation of Bitcoin. While a majority of senior Bitcoin developers are either opposed or apathetic to the changes proposed by BIP-110, the movement has gained enough steam to become an ongoing topic of discussion on social media.
Supporters of BIP-110 believe that by running Bitcoin full nodes that signal for the consensus change, they alone can change Bitcoin. Here are the main concepts being debated, the biggest misconceptions about Bitcoin consensus, what a Bitcoin node is, and why BIP-110 is almost certain to fail.
Many of the disagreements and misconceptions in this recent cultural conflict within Bitcoin revolve around the idea of a Bitcoin full node. Influencers like Knut Svanholm, author and podcaster, have elevated the role of the full node to heights perhaps too close to the sun.
Knut recently tweeted: “Every person on Earth is a node in the Bitcoin network. Most to a minuscule extent, of course, but every node is first and foremost a person, not a machine. Which tools we use to interact with the network (and, by extension, to which extent they influence the network) is entirely dependent on the choices we make.”
Statements of this sort are poetically beautiful, philosophically grand, romantic even, but nevertheless technically incoherent and fundamentally meaningless. Knut’s tweet attempts to redefine what a ‘Bitcoin node’ means and fails at it, instead diluting the value of the term entirely. He might as well have said that every atom in the universe is a Bitcoin node, since apparently to him the term is all-encompassing.
Knut, though well-intentioned, is wrong. A Bitcoin node is something very specific. It is a full copy of all of Bitcoin’s transaction history, block headers and transaction-related data. Its purpose is very specific: to let users verify the integrity of Bitcoin’s supply and transaction history in relation to Bitcoin’s consensus rules.
Bitcoin nodes grant users a variety of benefits, such as privacy. Third-party wallet providers query their copy of the Bitcoin blockchain for the user’s balance and serve it back to the user via the wallet app. Most mobile wallets function this way, with users asking a third-party server for their balances. Some, very few, can connect to a user-run Bitcoin node, in which case the user’s public addresses and balances are not shared with any third-party wallet company.
Another benefit Bitcoin nodes grant users is the ability to check whether they are in consensus with the rest of the network, staying in sync. If the user mines Bitcoin or contributes any significant amount of hashing power to Bitcoin’s proof-of-work network, the node also provides the opportunity to assemble a block, choosing which transactions go into it. This is only possible if the user manages to mine a Bitcoin block, which is quite an achievement today, given the difficulty and steep competition.
Even new kinds of mining pools like Ocean, which attempt to decentralize block template production, letting retail miners have more influence over which transactions enter the chain, still need enough hashing power to win the proof-of-work race, resulting in sporadic blocks being mined and thus limited influence over the blockchain.
Bitcoin nodes also relay transactions across the network, with tens of thousands of them communicating via a flood network; this results in a censorship-resistant system where a small number of nodes can get controversial transactions to miners, bypassing any kind of filters, as demonstrated by Peter Todd’s relay libre. Thus, Bitcoin nodes can not easily filter which transactions enter the blockchain.
Even a large majority of Bitcoin nodes alone cannot alone change Bitcoin consensus. Not without having a large amount of economic activity entering the Bitcoin network through them, as exchanges do on behalf of millions of users. Not without having the protocol and application developer community behind them. Not without having the investor community behind them. Bitcoin is not a node democracy, contrary to popular memes today.
Bitcoin nodes do not grant you ‘citizenship’ in the ‘Bitcoin nation’. Satoshi Nakamoto was quite clear about this in the Bitcoin white paper. Bitcoin’s ultimate security and governance structure is: one CPU cycle, one vote, not one node, one vote. And miners, who run the CPU cycles over Bitcoin’s proof-of-work, are very sensitive to investor sentiment and the broader developer community, resulting in a distributed global protocol for money that is very difficult to change.
Bitcoin nodes ultimately let you know if you are connected to the network with the most accumulated proof-of-work and that its consensus rules are being followed, but a node alone does not let you change the consensus rules. Users who change the consensus rules of their Bitcoin node are, by definition, no longer running Bitcoin. As a result, changing Bitcoin consensus as a node runner is very difficult, and that’s a feature, not a bug. Bitcoin is money for enemies.
Deep work has been done, trying to understand Bitcoin consensus, its various pillars and interest groups. Ren Crypto Fish, Steve Lee and Lyn Alden identified six of them in BCAP, an open-source effort to analyze Bitcoin consensus and risks in protocol upgrades. BCAP identified stakeholders such as Economic Nodes, Investors, Media Influencers, Miners and Protocol Developers, and Users and Application Developers
Historically, in the case of a consensus crisis, it is true that Bitcoin nodes have been used to signal support for one version of Bitcoin over another. Fork events like 2017’s Bitcoin Cash fork are often cited as examples of economic nodes winning against opposition by miners. 2017’s legendary User Activated Soft Fork (UASF) faced major opposition in theory; a large majority of mining pools and their corresponding collective hashrate supported the Segwit2x version of Bitcoin, with many exchanges and corporations having signed the infamous New York Agreement in support of it.
The Bitcoin node-supported soft fork against it won nonetheless, bluffing the Segwit2x version from a contested blockchain altogether. But that’s the thing: while the Bitcoin nodes technically won, they did so by having massive support from protocol developers, investors and media influencers: these nodes really had economic weight and rough consensus. BIP-110, on the other hand, does not have the protocol developers, nor does it have enough investors behind it. Michael Saylor has come out against it, with many industry leaders also openly opposing it or staying out of the matter entirely.
In fact, during the Bitcoin Cash fork, the limits of retail Bitcoin nodes were clearly understood. A Bitcoin node run by an exchange is orders of magnitude more influential than that of a retail user, as it introduces large amounts of new transactions into the Bitcoin network. The Bitcoin node of a major mining pool is far more influential than that of a hobbyist solo miner, as it more often assembles blocks and chooses which transactions settle to the blockchain.
Most Bitcoiners outside of exchanges use mobile wallets to access their Bitcoin. Such users and investors can ‘vote’ with their money, so to speak, by moving their bitcoins and economic activity elsewhere, be it to a wallet that supports their vision of Bitcoin, or their own full node. But while users remain on mobile wallets that talk to third-party nodes, those users have little individual influence over Bitcoin consensus. And the vast majority of mobile wallets are using a Bitcoin core-compatible back end.
The same goes for exchanges; their users effectively delegate consensus decisions to the exchange operators. In some cases, exchanges have put consensus issues to a user vote, weighed by their total holdings, returning that decision to end users weighed by capital; we may see this happen again with BIP-110.
Votes of the sort have started happening with Foundry today. One of the biggest Bitcoin mining pools in the world, Foundry, recently emailed its miners informing them that they can vote on the proposal with their hashrate. A high enough support could result in Foundry signaling for BIP-110, though that remains unlikely. Users who do not vote will effectively signal against BIP-110, defending the status quo. Thus apathy about the topic of BIP-110 would be a win for Bitcoin Core by default. BIP-110 supporters need to culturally win over a majority of the Foundry hash rate, who then must act to vote against the Bitcoin Core developer consensus, the most popular Bitcoin implementation and best supported codebase.
Today, miners are not signaling support for BIP-110 in any significant way. In fact, according to some data, this is one of the least supported soft fork attempts by miner signaling in Bitcoin’s history. Less than one percent of the blocks mined in the current difficulty adjustment period are signaling for BIP110.

BIP-110 has so far failed to gain consensus across major interest groups within Bitcoin; neither developers, investors, miners, nor large economic nodes support the consensus change. The result is likely to be a chain split in the coming weeks, which could have significant consequences for lightning wallets running on BIP-110-compliant nodes, ultimately resulting in a new, yet small blockchain that would probably have to change the proof-of-work used to stay alive.
This post Bitcoin is NOT Changed by Proof Of Node first appeared on Bitcoin Magazine and is written by Juan Galt.
Bitcoin Magazine

Bitcoin Maxi Jack Dorsey Unveils New Open Source Group Chat App
Tech entrepreneur Jack Dorsey has announced a new group chat platform aimed at reducing teams’ reliance on platforms like Slack, in the Bitcoin maxi’s latest push for decentralization.
The Block co-founder wrote Tuesday on X that the new app, named Buzz, was “for teams of people and agents of all sizes” and “model-agnostic, decentralized, self-sovereign, and open source.”
Described as “A new native workspace for human and agent teams” on its website, Buzz users can “chat with teammates and specialized agents in one shared space, then move straight into planning, project management, coding, and PRs.”
A statement from parent company Block said that the new app was built on decentralized social networking Nostr protocol.
“The interface will feel familiar to anyone who’s used a modern team communication tool,” Block added.
“Every company is going to need a place where humans and agents work together,” Bradley Axen, head of AI capabilities at Block, said.
“The question is whether that place is proprietary or open. We built Buzz because we believe it should be open.”
Dorsey, whose firm Block owns companies Square and Cash App, has long been pushing for decentralized solutions: primarily with Bitcoin.
The billionaire founder of Twitter left the social media company to focus his efforts on payments and Bitcoin adoption in 2021, saying he wants the cryptocurrency to be the global currency and “everyday money.”
He has also described Satoshi Nakamoto’s Bitcoin white paper as “poetry.”
Cash App allows users to send and receive and buy and sell Bitcoin and point-of-sale terminals Square accept the orange coin via the Lightning Network.
Block also last year debuted a Bitcoin mining rig with swappable parts, with the idea that miners could cut costs on repairing and replacing the devices.
This post Bitcoin Maxi Jack Dorsey Unveils New Open Source Group Chat App first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.
OpenAI models were asked to exploit software in a controlled test. According to OpenAI’s preliminary account, they found a flaw in the systems meant to keep them contained, reached the open internet, compromised Hugging Face infrastructure, and obtained answers to the test.
Within hours, Elon Musk had folded the incident into a list of AI milestones and wrote, “We are in the Singularity.” The breach quickly became a proxy for a broader argument among AI commentators over whether frontier systems are approaching ASI or whether a containment failure is being sold as a capability milestone.
The incident is a serious security failure. The public evidence establishes task-scoped cyber autonomy; artificial superintelligence, or ASI, remains a vastly larger claim.
The gap between the event and what people want it to mean creates a credibility trap. Frontier AI companies benefit when the world believes their systems are exceptionally capable. Their critics have reason to inspect dramatic disclosures for product theater. When every surprise is pulled toward one of those stories, a genuine warning can be inflated into proof of the singularity or dismissed as marketing before the facts have settled.
The immediate risk came from models acting beyond the intended bounds of an assigned task. The longer-term risk is human: losing the shared standards needed to recognize what an advance actually proves.
On July 21, OpenAI attributed the compromise to GPT-5.6 Sol and a more capable prerelease model being tested on ExploitGym. The cyber evaluation measures whether AI agents can turn known vulnerability triggers into working exploits. The models were deliberately prompted to pursue advanced exploitation, given substantial inference compute and tested without the production classifiers that normally restrict high-risk cyber activity.
ExploitGym contains 898 reproducible tasks that start with vulnerable code and evidence that a flaw exists. The agent must convert that starting point into a functioning exploit.
OpenAI said the evaluation environment restricted network access to a package-registry proxy. Its account says the models exploited a previously unknown flaw in that proxy, escalated privileges inside the research environment and reached a machine with internet access. They then inferred that Hugging Face might hold ExploitGym material, found paths into its production systems and obtained test solutions.
OpenAI and Hugging Face have not publicly resolved which model took each action, every point at which people intervened, or the complete technical timeline. Those gaps matter when judging the breadth of the capability. They do not erase the containment failure.
The autonomous behavior lay in the route the models took to complete that assigned job, which carried them into Hugging Face’s systems.
OpenAI CEO Sam Altman’s public description was brief:
“we had a significant security incident during evaluation of our models.”
Hugging Face had already disclosed an autonomous-agent intrusion on July 16, before it knew which model was involved. Its investigation reconstructed more than 17,000 logged events and found unauthorized access to limited internal datasets and credentials. Hugging Face reported no evidence that public models, datasets, Spaces, or its software supply chain had been altered. Its assessment of possible partner or customer data exposure was still incomplete.
Hugging Face CEO Clement Delangue’s reaction on X captured why the event felt different:
“It's quite mind-blowing that all of this happened autonomously!”
His awe is understandable. But the word “autonomously” is doing heavy work, and its meaning is more specific than the larger claims now gathering around the incident.
An autonomous agent can select and carry out a sequence of actions within an assigned job. That observation does not establish that it has general judgment, formed its own ultimate objective, or can improve its underlying intelligence. The public record also does not settle every possible human intervention during this run.
Here, the objective was specialized and explicit. The behavior resembles what Google DeepMind calls specification gaming: satisfying the literal objective through a route that violates the designer’s intent. A student told to score well on a test may steal the answer sheet instead of learning the material. The score rises while the test fails.
The analogy still describes a severe breach. This shortcut crossed from a controlled evaluation into another company’s production infrastructure. OpenAI reported privilege escalation and a cross-system compromise. Hugging Face separately reported that internal datasets and credentials were accessed. A task can be bounded in cognitive terms and still create severe operational harm.
A Google DeepMind framework for AGI separates performance, generality, and autonomy because strength on one dimension does not settle the others.
ASI is a higher claim, commonly describing intelligence far beyond humans across practically every field.
The technological singularity is broader again: a point at which greater-than-human intelligence drives change so fast that ordinary prediction breaks down.
A damaging cyber operation remains far below those thresholds on the available evidence.
OpenAI’s June system card rated the GPT-5.6 family “High” in cybersecurity capability, but below its “Critical” threshold and below “High” in AI self-improvement. It said Sol and Terra had not completed autonomous, end-to-end attacks against hardened targets in testing.
The new incident occurred under different conditions from those tests. Hugging Face described the affected systems as weakly defended, and OpenAI’s evaluation also involved a more capable prerelease model whose individual actions remain unresolved.
The episode reveals how much the surrounding conditions matter. An evaluation can measure a model’s ability to exploit its intended target while missing the possibility that the model will exploit the evaluation environment itself.
Anthropic’s Mythos launch story offers a similar lesson in careful language. In April, Anthropic withheld Mythos Preview from general release because its cyber-exploitation abilities required stronger safeguards, while giving vetted defenders access through Project Glasswing. Anthropic presented the decision as a domain-specific response to advanced cyber risk.
Anthropic later released Fable 5 for general use and Mythos 5 for trusted cyber defenders, describing them as the same underlying model under different safeguards. Independent testing found an impressive result with important limits. The UK AI Security Institute reported that Mythos Preview completed a 32-step simulated enterprise attack in three of 10 attempts, while stressing that the target was small, weakly defended, and had no active defenders or defensive tooling.
Cyber capability can become dangerous before intelligence becomes general. That is precisely why inflated labels are unhelpful: the real achievement already deserves attention.
Hours after OpenAI’s disclosure, Elon Musk quote-posted a list of recent AI milestones that included the Hugging Face incident. His conclusion offered no technical threshold:
“We are in the Singularity”
Musk’s line offers the comfort of a clean answer. A breach, new mathematical results, and a burst of model achievements become one historic turning point. Real judgment is messier: we still need evidence that separates a singularity from a fast run of impressive, bounded advances.
The suspicion has a clear basis. The company warning that its model behaved in an unprecedented way also has a commercial interest in the world seeing its systems as unprecedentedly capable. That overlap can make a safety disclosure sound like a product demonstration. Detailed evidence, independent replication and precise language are how a lab earns trust across that divide.
On X, the same event quickly became raw material for competing stories. Some people treated the event as a serious case of an agent pursuing a goal beyond its intended constraints. Others saw poor containment being repackaged as capability drama. One security practitioner urged readers to wait for a detailed postmortem before choosing between a massive event and pure hype. Musk called it the singularity.
The same facts can therefore produce two damaging errors. A false positive occurs when a benchmark result or strange agent behavior is promoted into AGI, ASI, or the singularity. A false negative occurs when evidence of a consequential new capability is rejected mainly because the messenger has money, status, or tribal identity at stake.
The first error can distort investment, policy, and public expectations. The second can delay containment changes until a warning that sounded like publicity becomes an ordinary attack technique. Reflexive belief and reflexive disbelief both replace evidence with allegiance.
This breach is real enough to resist the marketing-hype dismissal. Hugging Face disclosed the intrusion before OpenAI publicly identified its models. Internal datasets and credentials were accessed. More than 17,000 events had to be reconstructed. A containment layer failed. Those facts stand independently of any superintelligence claim.
It is also bounded enough to resist the singularity story. The models were given a cyber objective, unusual compute, and reduced safeguards. Self-chosen goals, broad human-level competence, and recursive self-improvement remain unestablished. Those limits still leave a serious security failure.
A useful response starts with questions that can be answered. How did the proxy fail? Which model performed which action? How much human intervention occurred? What data was accessed? Why did monitoring not stop the chain earlier? Does the behavior persist against hardened systems and stronger containment?
OpenAI and Hugging Face have not yet published a final joint postmortem answering all of them. Until they do, the technical account should remain preliminary. That should increase the demand for evidence and keep prophecy out of the remaining gaps.
AI progress is producing events dramatic enough to sound fictional and economically consequential enough to attract suspicion. Human institutions now need to become better at judging evidence under those conditions. Labs should publish incident reports that outside experts can test. Evaluators should distinguish capability, generality, and autonomy. Public figures making milestone claims should say what evidence would prove them wrong.
Calibration demands discipline: treat a serious fact seriously without making it carry a conclusion it cannot support.
The post OpenAI’s model breach is not the singularity, but dismissing it as hype is dangerous appeared first on CryptoSlate.
Bitcoin surged past $66,000 for the first time since early June, extending a recovery that is beginning to repair some of the losses left by the market’s recent downturn.
The rebound comes from a much weaker starting point than the price alone suggests.
VanEck data showed that investors who sold Bitcoin over the past month were realizing substantially more losses than gains, while unrealized losses across the network were equivalent to roughly 16% of Bitcoin’s market value.
Only 53% of Bitcoin’s circulating supply was sitting in profit, well below its four-year average of 76%.
The move above $66,000 is now testing whether rising prices can begin to reverse that damage.
However, spot-market activity remains unusually thin, and derivatives traders are still paying heavily for protection against another decline, even as long-term holders refuse to sell and demand from US exchange-traded funds begins to recover.
Bitcoin’s breakout has so far arrived without the broad increase in spot trading that would give the recovery stronger support.
Average daily spot volume over the past 30 days stood near $5.1 billion, about 29% below the $7.2 billion average recorded since 2019, VanEck data showed.
At the same time, the trades that are taking place have also remained tilted toward sellers.
Market orders from sellers exceeded comparable buying by an average of about $70 million per day over the past month. That imbalance eased to $59 million over the latest week but remained well above the historical average of about $21 million.
Part of the slowdown may reflect the seasonal drop in trading activity that often accompanies the summer months. The continued seller-heavy flow, however, shows that Bitcoin began recovering before buyers decisively returned to the market.
That leaves the next stage of the rally dependent on whether the break above $66,000 can attract investors who had remained on the sidelines.
A sustained pickup in buying would give the move broader support. If trading remains thin, relatively modest changes in demand or selling pressure could continue to have an outsized effect on prices.
The hesitation in the spot market is also showing up in derivatives, where traders remain willing to spend heavily to insure themselves against another decline.
Over the latest month, premiums paid for put options, which gain value when Bitcoin falls, were nearly 50% higher than those paid for calls, which benefit from rising prices.
That pushed the put-to-call premium ratio to 1.49, a level reached only about 10% of the time since 2021.

The cost of short-term downside protection has also remained unusually high relative to bets on further gains, another sign that traders have not fully embraced the recovery.
Futures positioning tells a similar story.
Average open interest in perpetual futures fell to about $29.4 billion from $35.7 billion two months earlier. Funding rates remained positive, meaning traders were still paying slightly more to maintain bullish positions, but those rates stayed below historical averages.
The cautious positioning cuts both ways. Traders have yet to aggressively chase Bitcoin higher, but lower leverage also leaves the market less exposed to the forced liquidations that can turn an ordinary pullback into a much sharper sell-off.
Despite the caution among active traders, most of Bitcoin’s older supply has stayed put as prices recover.
About 12.2 million BTC, or 60.8% of circulating supply, had not moved for more than a year. That share was 59.1% six months earlier.

Another 3.55 million BTC had remained untouched for between six and 12 months, meaning roughly 78.5% of Bitcoin’s supply had not moved for at least half a year.
That restraint limits how much older Bitcoin is returning to the market even as prices rise.
However, there are signs of some holders becoming more willing to sell. Exchange balances increased by 26,674 BTC over the latest month, making more coins readily available for trading, while some Bitcoin held for three to 10 years also began moving.
Those shifts have so far been too small to reverse the broader trend toward an aging supply.
Historically, periods when more than 60% of Bitcoin had remained untouched for at least a year while that share was still rising were followed by stronger-than-average returns, VanEck found.
While past performance offers no guarantee that the pattern will repeat, the continued reluctance of long-term holders to sell provides a counterweight to the weak spot activity and defensive positioning surrounding the latest rally.
That limited supply is now meeting an early improvement in one of Bitcoin’s most important sources of demand.
US spot Bitcoin ETFs recently recorded six consecutive days of net inflows totaling more than $930 million, their longest positive streak since early May.
The change follows a much weaker stretch where the US investment products shed about 40,010 BTC, worth roughly $2.4 billion, during the previous 30 days.

Other large buyers did little to offset those withdrawals. Corporate treasuries like Michael Saylor's Strategy added about 2,343 BTC over the same period, while miners retained another 1,204 BTC.
Still, the recent ETF inflows remain modest compared with the scale of the earlier withdrawals. However, their timing gives Bitcoin a fresh source of demand just as the amount of readily moving supply remains constrained.
That combination helps explain how Bitcoin has been able to push above $66,000 even though several parts of the market are still behaving cautiously.
Ultimately, the next market signal will come from whether ordinary spot buyers begin joining the move.
If that happens, a sustained increase in BTC trading and buying would give the breakout the participation it has so far lacked and could encourage derivatives traders to reduce some of their downside protection.
The post Bitcoin breaks $66,000 but 4 key signals show this rally is far from normal appeared first on CryptoSlate.
OKX added Andrew Cuomo to its board of directors this month, framing it as a natural progression from two years of him advising the company. Cuomo also co-chairs a joint venture between OKX and Intercontinental Exchange, the operator of the New York Stock Exchange.
That venture is building infrastructure for tokenized assets, institutional derivatives and around-the-clock trading, and it plans to register as a broker-dealer and futures commission merchant once regulators approve.
Through it, OKX customers would gain access to ICE futures and tokenized NYSE equities. ICE already holds a board seat at OKX from an earlier investment that valued the exchange at $25 billion.
Cuomo's directorship extends that same relationship via a licensed, publicly accountable market operator sitting inside a crypto exchange's governance.
Put together, the board seat and the ICE venture describe an exchange assembling the licenses, partners and governance of a regulated financial firm, with a former governor filling the last seat.
Tokenized assets became the top new listing category on major centralized exchanges in the first half of 2026, close to one in five new listings, up from under 7% in 2025. Real-world-asset perpetual futures volume climbed 57% in June to a record $311 billion.
The capital base behind that growth already tops $330 billion, most of it in stablecoins, with roughly $13 billion in tokenized Treasuries and about $1 billion in tokenized stocks.
Citadel Securities put $400 million into Crypto.com this month at a $20 billion valuation, another sign that incumbent trading firms are building directly into crypto's infrastructure.

Cuomo spent a decade running New York's government, negotiating with state regulators, banks and federal agencies on everything from financial oversight to disaster response. He understands how policy gets written and how examiners think, and OKX gains a boardroom voice fluent in both.
That combination has long carried value on Wall Street, with examples such as Goldman Sachs appointing former European Commission President José Manuel Barroso as non-executive chairman of Goldman Sachs International in 2016.
A 2024 review of former officials on corporate boards found they typically bring policy expertise, added channels of communication with government, and institutional legitimacy.
A separate study found that winning a Senate or governor's race raises the odds of a later corporate board seat by roughly 30%, with average pay for those seats topping $250,000. That pattern predates crypto by decades, and OKX is applying a well-worn corporate strategy to a newer industry.
| What a former official can bring | Why it matters to OKX | Risk or caveat |
|---|---|---|
| Policy fluency | Helps translate crypto products into regulatory and institutional language. | Does not guarantee regulatory approval. |
| Government experience | Offers insight into how agencies, examiners, and lawmakers think. | Can be criticized as revolving-door politics. |
| Institutional legitimacy | Makes a crypto exchange look more like a regulated financial firm. | Reputation cuts both ways if governance questions persist. |
| Boardroom signaling | Shows counterparties that OKX is adopting establishment governance norms. | Symbolism is weaker without clear committee duties. |
| Financial-regulation context | Useful as OKX pursues broker-dealer and futures commission merchant registrations. | Licensing still depends on regulators, not résumés. |
| Public credibility | Gives OKX a recognizable voice in U.S. policy and institutional circles. | Could intensify scrutiny during the CLARITY ethics fight. |
A board seat carries formal duties: oversight of risk, audit, strategy and management, enforceable by shareholders and spelled out in bylaws.
OKX has not detailed which committees Cuomo will join, whether he holds independent-director status, or whether he will see reports from the compliance consultant it still retains through February 2027.
OKX's operator, Aux Cayes FinTech, pleaded guilty in February 2025 to running an unlicensed money-transmitting business and agreed to more than $504 million in penalties and forfeiture.
The Justice Department required the company to keep an external compliance consultant in place through February 2027.
As the exchange pursues broker-dealer status, ICE partnerships and U.S. institutional customers, examiners and counterparties will read its board roster as part of the compliance picture itself.
The appointment lands as Congress negotiates the CLARITY Act, the bill meant to set federal rules for digital assets.
Senator Chris Van Hollen has pushed language barring sitting elected officials and their families from issuing digital assets or owning crypto platforms. That proposal targets sitting officeholders, and Cuomo has been out of office for years.
His appointment still sits inside the same question Van Hollen's amendment is trying to answer: how much overlap between political power and crypto wealth Washington will tolerate.
A former governor co-chairing a Wall Street-crypto venture and sitting on an exchange board is the revolving-door version of that same overlap.
The White House has pushed the Senate to pass CLARITY before the August recess. A group led by Senators Cynthia Lummis and Bernie Moreno reported an ethics-provision agreement on July 21, one that still needs Democratic votes to clear the Senate's 60-vote threshold.
In the bull case, CLARITY clears the Senate with its ethics language intact, giving OKX and similar exchanges a clear federal path to broker-dealer status.
The ICE venture moves from paperwork to product, tokenized NYSE equities and futures access reach OKX customers, and the Citadel-Crypto.com deal becomes one of several similar partnerships across the industry.
Regulated crypto exchanges start operating like the market infrastructure firms they are trying to become, and former officials become routine additions to their boards.
In the bear case, CLARITY stalls again over the ethics language. OKX's board roster draws renewed attention to its 2025 guilty plea, and the ICE venture's regulatory approvals slip past their expected timeline.
Lawmakers and reporters treat Cuomo's seat as a case study in the revolving door, a symbol of the same overlap Van Hollen's amendment is trying to police.
| Scenario | What happens next | What it would signal |
|---|---|---|
| Bull case: regulated integration | CLARITY advances, ethics language survives, and ICE-OKX moves toward licensed products. | Crypto exchanges become regulated market-infrastructure firms, not just trading venues. |
| Base case: selective institutionalization | Partnerships and board upgrades continue, but approvals move slowly, and products launch in phases. | Crypto becomes more establishment-facing, but still unevenly regulated. |
| Bear case: revolving-door backlash | CLARITY stalls, Cuomo’s role draws political scrutiny, and OKX’s prior settlement resurfaces in coverage. | Political credibility becomes a liability rather than an asset. |
| Black swan: governance shock | A compliance, ethics, or product-approval setback hits a major exchange or tokenized-asset venture. | Regulators slow the Wall Street-crypto convergence and demand stronger governance first. |
Either way, OKX's board shows that crypto exchanges think their business is heading towards licenses, institutional partners and the kind of boardroom Wall Street has run for decades.
Cuomo's seat is one data point in a longer institutional build-out, and the CLARITY vote later this year will test how much of Washington is willing to accept it.
The post Why OKX hired Andrew Cuomo: Crypto’s next battle isn’t for users appeared first on CryptoSlate.
On July 28 and 29, the Federal Reserve meets to set its next rate decision, and traders will try to price the outcome through bonds, currencies, crypto and contracts that settle directly on what the central bank announces.
Reuters polled 104 economists on July 21 and found every one of them expected the Fed to hold at 3.50% to 3.75%.
Kalshi's July contract puts 87% on that outcome, with roughly $29.7 million in volume on the page, and someone still has to put a price on the other 13%.
That counterparty now includes market makers, quantitative firms, funded-trading shops and AI agents that watch prices, compare related contracts and update probabilities around the clock.
Institutions are testing event contracts, and brokers are wiring in liquidity providers. Funded-trading firms are starting to treat resolved contracts as a way to identify traders, human or algorithmic, who can price uncertainty better than the crowd.
Together, these forces could deepen order books, speed up price discovery, and concentrate the edge among firms with the fastest infrastructure.
Combined monthly volume across Kalshi and Polymarket reached its peak at $13.7 billion in June, with July already registering over $11 billion. These numbers show prediction markets already trading at professional scale.

Kalshi said its annualized volume more than tripled over six months to $178 billion, that institutional volume climbed 800%, and that it completed its first customized block trade.
Clear Street, Marex and Jump Trading have each built a piece of the access layer around that growth: Clear Street connects institutional clients to Kalshi, Marex works across both Kalshi and Polymarket infrastructure, and Jump helps institutions reach event markets directly.
AQR, Susquehanna, and OKX have advertised specialist prediction-market roles on top of that build-out.
Corporate treasuries are testing these same contracts to hedge tariff and regulatory exposure, a demand that only works if someone else commits to pricing the other side of the trade, continuously and at size.
Building a functioning market requires a supply side willing to quote both directions, compare related contracts across venues and correct a price the moment it looks wrong.
Louis Régis, founder of the on-chain prop firm Propr and a former quantitative trader at Credit Suisse, argued that event contracts make trader selection more rigorous than conventional markets do, as the skill they reward is legible and the risk is bounded.
A contract resolves against a defined outcome, so an allocator can examine whether a trader consistently priced probability better than the market. That test isolates skill more cleanly than a directional profit-and-loss record, where market direction and margin blend into the number.
The Foresight Arena benchmark estimates that detecting a real edge of two percentage points with reasonable statistical confidence takes about 350 resolved binary predictions, and confirming a one-point edge takes roughly four times as many.
A short winning streak on a handful of Fed or election contracts can still come from a favorable market pick, a correlated position, or a rare outcome that happened to land right.
| What a funded firm can measure | Why it matters | Caveat |
|---|---|---|
| Probability calibration | Did the trader repeatedly buy probabilities that resolved too low or sell probabilities that resolved too high? | Needs many resolved contracts to separate skill from luck. |
| Performance after fees and slippage | Shows whether the edge survives real execution costs. | Thin books can make paper edge disappear. |
| Drawdown control | Tests whether the trader can survive bad event clusters. | Bounded downside does not eliminate correlated losses. |
| Market specialization | Reveals whether edge comes from macro, politics, crypto, sports or regulatory events. | Niche expertise may not transfer across categories. |
| Live-capital conversion | Shows whether simulated signals are strong enough to be A-booked. | Nominal funding can overstate actual venue liquidity. |
| Sample size | Foresight Arena suggests small edges need hundreds of resolved predictions to verify. | A hot streak across a few major events is not enough. |
Propr plans to extend its evaluation model to Polymarket, letting traders and AI agents qualify for accounts up to $100,000 and hold as much as $300,000 across multiple accounts, with an 80% profit share once they pass.
The firm treats every trade as a signal, copying some onto the live venue as A-booked positions and simulating the rest internally as B-booked ones, crediting the trader with the identical profit and loss either way.
Right now, Propr copies roughly 5% of its signals onto a live venue. The rest stay B-booked, a holding pattern Régis attributes to collecting enough data to deploy treasury capital responsibly, and payouts settle on-chain in USDC regardless of booking method.
Régis expects AI agents to fit prediction markets especially well: each contract follows a fixed structure, produces an observable price, and resolves against a set rule.
An agent can watch a market and reprice it continuously, minute by minute, and Régis argued that a structured environment plus constant repricing adds up to a genuine trading edge.
The Prediction Arena benchmark gave six frontier models $10,000 each and let them trade autonomously on Kalshi and Polymarket between Jan. 12 and Mar. 9.
The models lost between 16% and 30.8% of their capital on Kalshi, and they averaged a smaller, still-negative 1.1% return on Polymarket. A separate working paper on converting forecasts into profit argues that predictive accuracy only becomes expected profit under a proper betting strategy and enough liquidity to execute it.
Prediction markets may be an unusually clean laboratory for AI traders to test how good the models are at turning forecasts into profitable trades.
In the bull case, funded traders, market makers and agents supply enough live capital to tighten spreads, deepen order books and pull Kalshi and Polymarket prices closer together.
A January 2026 working paper examined common contracts across Polymarket, Kalshi, PredictIt and Robinhood. It found that Polymarket often led Kalshi in price discovery when liquidity and trading activity ran higher, and that large directional order flow helped decide which venue moved first.
More live capital could extend that lead across more contracts and compress the gap between platforms.
In the bear case, the edge concentrates in a handful of firms with the fastest infrastructure. Casual traders lose consistently to better-informed counterparties, and liquidity thins out when an event gets hardest to price.
Régis said he is “confident about the direction, not the magnitude.” One funded firm, even a quickly expanding one, is still a small source of flow next to a market that already moves tens of billions a month.
| Scenario | What happens | Who benefits | Main risk |
|---|---|---|---|
| Bull case: professional liquidity flywheel | Funded traders, market makers and AI agents tighten spreads, deepen books and correct stale prices faster. | Institutions, venues, skilled traders and users seeking better prices. | Edge still concentrates, but market quality improves enough to justify it. |
| Base case: professionalization remains selective | The deepest contracts around Fed decisions, elections, sports and crypto get better liquidity, while long-tail markets remain thin. | Specialist traders and venues with the strongest flagship markets. | Most prediction markets remain too shallow for institutional use. |
| Bear case: adverse selection dominates | Faster firms capture mispricings before casual traders can react, and liquidity disappears during hard-to-price moments. | Quant desks, bots and prop firms with superior infrastructure. | Prediction markets become less like crowd wisdom and more like retail flow trading against pros. |
| Black swan: trust or legal shock | A disputed resolution, manipulation episode, or regulatory block slows institutional adoption. | Competitors with stronger compliance or settlement credibility. | Professional capital waits on the sidelines until market rules harden. |
The Fed's hold on July 28 and 29 is already close to settled before the statement even prints. The contest plays out in the remaining tail, the probability band sitting outside that same consensus, and in the moments once CPI, GDP and payroll data force every contract to reprice.
The Bureau of Economic Analysis publishes its advance GDP estimate July 30, and the July employment report arrives Aug. 7. Each release runs the same competition again: whoever prices the surprise first, or fixes a stale line fastest, keeps the flow.
Pricing those releases correctly, again and again, is what turns a trader or a model into something a funded-trading firm wants to back with real capital.
The post Easy money on Polymarket and Kalshi is disappearing as prop firms deploy AI agents appeared first on CryptoSlate.
A major exploit involving a bridge connected to the Cardano ecosystem sent Midnight’s NIGHT token to an all-time low on July 20 after an attacker drained roughly 515 million tokens from infrastructure operated by Wanchain.
The tokens were removed from a Cardano-side lock address backing NIGHT bridged to BNB Chain, leaving only a fraction of the bridge’s previous reserves.
NIGHT fell more than 30% during the fallout and touched a record low near $0.015. At prices around the time of the sell-off, the stolen assets were worth roughly $9 million to $10 million.
Wanchain suspended the affected Cardano-to-BNB Chain bridge and began investigating the incident.
Blockchain security firm BlockSec said its preliminary analysis pointed to a possible problem in the TreasuryCheck validator’s signed-message encoding that could have allowed a previously valid signature to be reused with different transaction data.
However, the firm stressed that the investigation remained preliminary.
The Midnight Foundation said the breach was confined to the third-party bridge infrastructure and did not disrupt Midnight’s protocol, validator network, consensus system or core infrastructure. The NIGHT smart contract operating on Cardano also continued functioning.
Midnight later said Binance, Kraken, KuCoin, Bybit, OKX, Gate and MEXC had joined efforts to limit movement of the stolen assets. Measures included freezing or restricting accounts and addresses associated with the incident, blacklisting attacker-linked wallets and suspending NIGHT deposits and withdrawals where necessary.
The response has narrowed the attacker’s access to major centralized trading venues after hundreds of millions of NIGHT moved out of the bridge treasury.
Cardano founder Charles Hoskinson said organizations across the ecosystem formed a “war room” to monitor the situation as it unfolded, bringing together Midnight, Input Output, Intersect and other groups involved in the response.
Hoskinson said audits would be required to establish “ground truth” around the failure and responsibility for the incident.
The attack has shifted attention toward a part of the crypto stack that Hoskinson says remains particularly difficult to secure even when the underlying blockchain continues operating normally.
“Bridges are the most vulnerable of all of these attacks in the cryptocurrency space,” Hoskinson said, arguing that cross-chain systems typically depend on sources of verification or trust outside the networks they connect.
Unlike transactions that remain within a single blockchain, bridges must coordinate activity across separate networks. That can require external relayers, validators, multisignature arrangements, or smart contracts that determine whether assets should be released on the destination chain.
As a result, these platforms have become targets for malicious attackers who have stolen more than $2 billion in crypto from these infrastructures.
Meanwhile, Hoskinson used the incident to defend Cardano’s longstanding emphasis on formal methods, peer review and protocol design, which he said reduces the number of potential attack vectors available to malicious actors.
However, he stopped short of describing those practices as complete protection against attackers.
Instead, Hoskinson compared the approach to being 90% resistant to a deadly disease: the likelihood of harm can be substantially reduced while the possibility of failure remains. He said:
“Being 90% resistant to a deadly disease doesn’t mean you’re immune to a deadly disease. It just means more often than not you’re unlikely to catch it.”
That distinction has become increasingly relevant as the Cardano ecosystem expands beyond the security boundaries of its base network.
Midnight temporarily suspended Glacier Drop redemptions in late June after a separate security incident affected some Cardano wallets associated with SecondFi. The foundation resumed redemptions on July 9 after concluding that its own redemption infrastructure and systems were not exposed.
The Wanchain exploit presents a different vulnerability but again shows how losses involving services built around Cardano can emerge without a failure in Cardano’s consensus protocol.
Hoskinson said the answer requires additional layers of protection rather than relying solely on the security properties of an underlying blockchain.
He pointed to future bridge designs incorporating recursive or folded zero-knowledge proofs, which could reduce dependence on external sources of validation.
Those systems could be combined with measures such as trusted execution environments and multisignature controls to create additional barriers against unauthorized transfers.
He also highlighted Midnight Passport, an identity and selective-disclosure system that could allow users to establish ownership of wallets without publicly exposing all of their personal information.
That capability could become useful after hacks in which recovered funds must eventually be returned to legitimate owners. Crypto recovery processes can become difficult when users have lost credentials or when ownership cannot easily be established without sacrificing privacy.
Hoskinson said stronger identity tools could eventually support insurance products covering losses from security failures. Users who can establish ownership and meet defined security standards could purchase coverage that provides restitution when an exploit occurs.
Those ideas remain part of Midnight’s longer-term development rather than an immediate remedy for the Wanchain losses.
Despite the security scare, ADA has experienced a sharply different outcome as its value climbed nearly 8%.
Data from CryptoSlate showed that ADA traded around $0.175 Tuesday after reaching roughly $0.177, extending its gain over the past week to about 11%.
The move has brought $0.20 back into range after the token spent much of the recent downturn below that threshold.
The divergence suggests traders have so far limited the market consequences of the Wanchain exploit to the bridge and NIGHT rather than applying the same discount to ADA.
ADA has also benefited from a wider cryptocurrency recovery. Bitcoin moved back above $66,000 as several major digital assets advanced, helping lift sentiment after weeks of weaker prices.
Blockchain analysis firm Santiment noted that this rebound has pushed Cardano’s 30-day market-value-to-realized-value ratio back above zero, alongside Bitcoin, ETH and XRP.
The metric measures whether investors who acquired an asset over a specified period are sitting on an average profit or loss. A positive 30-day reading means the typical buyer from the previous month has returned to unrealized profit.
For ADA, the shift represents a marked change from June, when Santiment data showed its 30-day MVRV around negative 18%, placing recent buyers substantially underwater.
The improvement also creates a potential source of selling pressure. Holders who bought during the decline can now exit at a profit, giving them more incentive to take gains if the recovery loses momentum.
Santiment has said the latest readings remain below levels associated with an overheated market, though the move above neutral reduces the conditions that previously discouraged short-term selling.
The rally also comes three days after Cardano enacted the van Rossem hard fork, moving the network to protocol version 11.
The upgrade expanded Plutus smart-contract functionality and tightened several ledger rules while keeping the blockchain within the Conway era. It was also approved through Cardano’s on-chain governance process involving DReps, stake pool operators and the Constitutional Committee.
That leaves ADA approaching $0.20 with several forces moving at once: a broader crypto rebound, recent protocol progress and a market that has so far separated the Wanchain breach from Cardano’s underlying network, alongside a growing incentive for recently profitable holders to sell.
As of press time, NIGHT has recovered roughly 30% to $0.022, up 19% over 24 hours.

The post 515M NIGHT bridge exploit rocks Cardano but ADA jumps 8% anyway after landmark hard fork appeared first on CryptoSlate.
Bitcoin is having its best week in more than a month. A wave of institutional ETF buying, a regulatory breakthrough in Washington, and a shift out of "fear" sentiment have combined to push BTC back toward $67,000. Bitcoin crossed the important $65,000 resistance level as ETF inflows accelerated and the Crypto Fear and Greed Index exited the fear zone, trading at $66,267 on Wednesday — up nearly 15% from its lowest level this year. Here's what's actually moving the market.
The headline number circulating on X is close to accurate. Spot $Bitcoin ETFs added $203 million in inflows on Tuesday, marking the sixth consecutive day of inflows and bringing the six-day total to over $928 million. That's nearly $1 billion in fresh institutional demand in less than two weeks.
The buying is heavily concentrated in the usual leaders. On July 21, Bitcoin hit $66,400 — its first time above $66,000 since June 17 — alongside five straight days of net inflows into US spot Bitcoin ETFs, the longest streak since early May, with roughly $727.3 million entering over five sessions and the final session alone bringing in $226.9 million, the best since July 6. Total Bitcoin ETF assets have surpassed $79 billion, up from about $71 billion in late June.
Because ETF flows are no longer just a sentiment gauge — they're a structural driver of price. The recent inflow run is meaningful precisely because of how deep the hole was. June 2026 alone saw $4.7 billion in outflows from Bitcoin ETFs, the largest monthly exodus since these products came to market, part of $8.2 billion in cumulative outflows during the early summer streak. Set against that backdrop, a six-day, near-billion-dollar reversal represents a genuine shift in institutional posture, not just noise.
Still, it's worth keeping perspective. Even after the recent inflows, 2026 ETF flows remain net negative at about $5.2 billion. The recovery is real, but it's filling a hole rather than breaking new ground — at least for now.
The second catalyst is regulatory. Bitcoin rose 2.5% at one point on Tuesday, inching toward $67,000, while shares of Coinbase climbed as much as 13% after Treasury Secretary Scott Bessent said lawmakers were at the "1-yard line" on the CLARITY Act, urging Congress to pass the landmark bill before leaving for recess.
The CLARITY Act is the market-structure bill crypto has been waiting on for over a year. It would split oversight of digital assets between the SEC and the CFTC, set disclosure rules for certain tokens, and extend anti-money-laundering and sanctions rules to crypto exchanges. The House passed its version a year ago, and the measure has waited in the Senate since.
This is where the on-chain optimism meets political reality. Despite Bessent's football metaphor, the path is not clear. The bill needs 60 votes to pass the Senate, and Republicans only have 53 — meaning at least seven Democrats must cross over. Democrats have named their price: rules preventing the president and other senior officials from profiting off crypto.
The betting markets remain skeptical. Polymarket's contract on the CLARITY Act being signed into law in 2026 traded near 47% on Tuesday, up from a record low of 31% earlier this month but still short of a coin flip, while Galaxy Research had cut its passage odds to 50-50, citing the shrinking Senate calendar. With only 14 working days remaining before the recess, even supportive senators are hedging on timing.
The broader risk picture is more mixed than the bullish crypto posts suggest. Oil has been climbing on geopolitical tension, with US-Iran friction pushing WTI crude to multi-week highs — the kind of energy-price and geopolitical stress that has historically weighed on risk assets, even as Bitcoin has so far shrugged it off this week. Traders should watch whether that resilience holds if tensions escalate further.
With $BTC near $66,000–$67,000, analysts are watching the next resistance band closely. For a sustained uptrend, Bitcoin needs to hold above the $65,000–$65,500 range. Above current levels, the technical picture is unusually clean: Glassnode data shows only about 1% of Bitcoin supply last changed hands between here and $70,685 — meaning little overhead supply stands in the way of a move higher.

Bottom line: Two catalysts are firing at once — a near-billion-dollar ETF inflow streak and a regulatory bill inching toward the finish line. Both are genuinely bullish. But the ETF recovery is still net-negative year-to-date, and the CLARITY Act's Senate math remains unsolved. The momentum is real; the follow-through is not yet guaranteed.
The AI governance token DeXe (DEXE) just suffered one of the most violent collapses of the 2026 cycle. After printing an all-time high of $48.89 on July 13, the token free-fell to around $4–5, wiping out roughly 85% of its value and erasing billions in nominal market cap. DeXe is down 84.73% to $5.27 in 24h, dramatically underperforming a slightly positive broader market, primarily driven by a severe internal sell-off with no clear external catalyst. The speed and shape of the drop have flooded crypto forums with a single question: was this a rug pull?
DEXE went parabolic in early-to-mid July before imploding. DEXE printed a record $48.89 on July 13, 2026, capping a roughly four-day run that started with the July 9 exchange listing. That all-time high capped a violent four-day run that began with an exchange listing and turned into a short squeeze.
From there, the token bled out in stages — first a 10% slide, then a 30% pullback, then a 58% plunge — before the final capitulation leg dropped it to single digits. DeXe (DEXE) plunged 58.13% today after a sharp reversal from recent all-time highs, as heavy selling pressure dominated the session even as its ongoing role as a governance and social trading token in the DeXe Network continued to attract attention. By the time the dust settled, the chart showed a near-vertical collapse from the mid-$30s straight through to the $4 handle.
There is no confirmed hack or exploit on record. Analysts point instead to concentrated selling into a thin, over-extended market. The extreme drop appears driven by concentrated selling pressure, likely from large holders or panic exits. No specific hacks, partnership cancellations, or negative news were found in the data to explain the crash.
The setup was fragile long before the drop. Traders were opening short positions on X as Dexe left its maximum coin supply unclarified for the future. The rally itself was built on mechanics rather than fundamentals: the recent price move was driven mostly by a listing catalyst and a short squeeze, so the fundamentals and the parabola are two separate stories that traders should not blur together.
Skeptics had also flagged warning signs during the pump. Some noted that the white paper and GitHub hadn't been touched in many years, and one analyst framed DEXE as an old project from a previous cycle that's been heavily pumped again in this cycle — a classic profile for a run that ends in a sudden shakeout.
Strictly, "rug pull" means a team draining liquidity or dumping supply and abandoning the project. What's documented so far looks more like a parabolic blow-off top unwinding on concentrated selling than a confirmed developer exit — but the price action is behaving exactly like a rug. One community member described it as behaving like it got rugged, free-falling from $49 to around six dollars, and pointed to a stale white paper and GitHub as red flags. As of now, no on-chain evidence of a liquidity drain has been publicly confirmed, and the team has not issued a definitive statement. Traders should treat the "rug pull" label as an allegation, not an established fact.
The attached daily chart tells the story cleanly. DEXE ran from the $8 zone in April up through a stair-step uptrend, accelerating into a near-vertical spike toward the ~$48 all-time high in July. The final candle is the killer: a full-length red bar that opened around $36, wicked down and closed at $4.487, printing a −27.49% session on the chart shown and slicing straight through every intermediate support.

Two horizontal levels matter now. The $20.218 line (the old June consolidation shelf) offered zero support on the way down — price gapped through it in a single wick, a hallmark of a liquidity vacuum rather than orderly selling. The $5.681 level is the last visible structure holding price; a daily close below it opens air toward the low-$4s and below.
The RSI (14) confirms the exhaustion: it collapsed to 26.98, deep into oversold, after the yellow signal line spent the entire rally elevated. Oversold does not mean a floor — in a post-blow-off collapse, RSI can pin near lows for extended periods. Any bounce off $5.68 or $4.50 is more likely a relief pop than a trend reversal until price reclaims and holds higher structure.
Bottom line: DEXE went from a squeeze-fueled 18x parabola to an 85% collapse in days, on heavy selling with no confirmed exploit. Whether it's technically a rug pull or a classic pump-and-dump unwind, the outcome for late buyers is the same. Extreme caution warranted.
XRP is having a strong day. The Ripple-linked token climbed about 4% over the last 24 hours to trade near $1.13, and this time the move has real drivers behind it — a major regulatory win, widening institutional access, and a broader market lifted by a resurgent Bitcoin. The rally has also pushed $XRP above a descending trendline that has capped every attempt to recover since its $1.54 high.
Let's start with why it's moving, then look at what the chart says.
Three things are working in XRP's favor at once.
First, regulation. Ripple has secured full MiCA approval to operate across 30 European countries, which strengthens its appeal to banks and payment providers and removes a layer of uncertainty that had kept institutions cautious. Second, access is widening: investors can now buy 21Shares XRP through most brokerages without needing to hold the coin in self-custody — a meaningful lowering of the barrier for traditional money. Third, momentum from the broader market: XRP posted its fourth straight green daily close on Monday, with the move powered in large part by a rebounding Bitcoin dragging the majors higher.
Put together, that's a mix of structural and momentum drivers rather than a one-off spike.
Now the technicals. From the $1.54 high, XRP carved out a clean downtrend — a series of lower highs, each rejected right at the same descending line (the yellow arrows on the chart mark those failed attempts). Price bottomed near the $1 support zone, bounced, got rejected at the trendline again, and pulled back.

Today breaks that pattern. The latest green candle has pushed through the descending line near $1.1361 instead of bouncing off it. That resistance has defined XRP's price action for roughly two and a half months, so clearing it is the first genuine technical win the bulls have had in a while. Analysts note the move also lines up with a symmetrical-triangle breakout that traders had been watching, with $1.13 as the key trigger level.
Breaking a trendline is a start, not a confirmation. On the daily chart, XRP is still inside a larger descending channel, with the 100-day and 200-day moving averages sitting overhead around $1.12-$1.13 and again near $1.24. That makes the $1.24-$1.28 zone the real test — it lines up with both the channel's upper boundary and the major moving averages. Clear it decisively, and analysts see $1.35 coming into focus.

On the downside, support sits firmly around $1.02-$1.06, where buyers have repeatedly stepped in over recent weeks. A loss of that zone would undo the breakout and potentially expose the $0.88-$0.92 area.
The takeaway: XRP has fundamentals and momentum aligning with a technical breakout — but it needs to hold above $1.13 and eventually crack $1.24-$1.28 to turn today's move from a breakout attempt into a real trend reversal.
The crypto market has flipped green again. After weeks of Extreme Fear and a bruising sell-off, the total market capitalization has climbed back above $2.2 trillion, gaining roughly 1.7% in the last 24 hours. Bitcoin reclaimed the $65,000 threshold, rising 0.77%, while Ethereum surpassed $1,900 with a 1.54% gain. Most majors are participating, with $XRP, $Solana, and $TRON all posting modest advances alongside the two market leaders.

So what's actually behind the move? Let's break it down.
The single biggest catalyst is a shift in inflation expectations. Market concerns over a potential resurgence in inflation are gradually subsiding, and this cooling has lifted both Bitcoin and Ethereum back above key levels. Crucially, this is happening despite ongoing geopolitical tension: crude oil prices have cooled even with the situation in the Middle East, which has helped fade fears of a second inflation wave.
Since oil feeds directly into headline inflation, easing crude removes one of the market's biggest overhangs. Lower inflation pressure means the Federal Reserve has less reason to stay hawkish, and that improved macro backdrop is exactly the kind of environment where risk assets like crypto tend to perform.
Yes, and this is the structural part of the story. U.S. spot Bitcoin and Ethereum ETFs have reported consecutive net inflows, underscoring sustained institutional demand and renewed confidence despite lingering macroeconomic uncertainty. The disappearance of institutional demand was a major driver of the earlier correction, so its return is one of the more meaningful signals beneath today's price action.
Investor sentiment has shifted as both safe-haven and risk-tolerant capital flowed into liquid crypto assets — a sign that money is rotating back into the space rather than fleeing it.
That's the key question. Sentiment has recovered from June's Extreme Fear lows but remains fragile, and the broader market still sits well below where it started 2026. For the move to hold, Bitcoin needs to defend the $65K–$66K zone as support rather than treat it as a ceiling, and ETF inflows need to stay consistent. Traders are also watching upcoming Fed signals and pending U.S. crypto legislation, including the CLARITY Act, as the next potential catalysts.
For now, the setup looks constructive: cooling inflation fears, returning institutional flows, and broad participation across majors rather than a single-coin bounce.
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Russia's push to bring digital assets into international commerce is moving forward, though not as quickly as first planned. After passing its first reading back in April, the government's crypto bill has been revised and cleared for its next stage. Russia's State Duma committee has approved a revised cryptocurrency regulation bill for its second reading, removing a proposed requirement to declare crypto wallet addresses while adding provisions for crypto-funded investments and new transfer controls.
The headline feature for businesses is unchanged: crypto stays banned for domestic payments but is permitted for cross-border trade. Meanwhile, Bitcoin is flashing strength of its own, closing above key long-term support for a third straight week. Below, we cover both the regulatory update and what the BTC chart is signaling.
It has passed one of three required readings. The bill, formally titled "On Digital Currency and Digital Rights," passed its first reading with 327 of 340 deputies voting in favor. Since then it has been reworked. Russia's Financial Markets Committee approved the revised bill for its second reading, with Chairman Anatoly Aksakov saying the proposal removes wallet address reporting while strengthening legal protections for crypto owners.
Importantly, the second-reading floor vote hasn't taken place yet. The committee endorsement was announced through Aksakov's Telegram channel, and records on the State Duma website had not yet been updated since the bill cleared its first reading in April. Two Duma readings, Federation Council approval, and a presidential signature are still required before it becomes law.
Several things. The updated draft no longer requires cryptocurrency holders to declare wallet addresses; instead, users would only need to report wallet balances and transaction volumes. Aksakov said the revision is intended to reduce the risk of sensitive information being exposed in ways that could be used against Russia.
New investment and control provisions were also added. Investors would be allowed to purchase Russian securities and Digital Financial Assets using cryptocurrencies, and licensed Russian brokers and asset managers could eventually gain access to approved foreign crypto exchanges, subject to additional conditions. Retail investment limits remain unchanged, while the bill introduces a new provision allowing authorities to delay certain large outbound crypto transfers for up to two days. The retail cap holds at 300,000 rubles annually.
Because it hands Russian companies a settlement route outside sanctioned banking channels. The bill maintains crypto's ban for domestic payments while carving out its use in foreign trade and, in the revised text, covering investor eligibility, consumer protections, cross-border crypto transactions, and the use of digital assets in Russia's financial markets. The scale is significant: Russian exporters and importers moving goods across an estimated $240 billion in trade volume and facing payment friction would gain a legal pathway to settle contracts in cryptocurrency.
Only major assets are expected to qualify. Only cryptocurrencies with market caps above 5 trillion rubles (around $66.6 billion) and a five-year trading history would be eligible, with Bitcoin and Ethereum the expected first approvals.
Later than originally targeted. Finance ministry official Alexey Yakovlev told Interfax the bill is largely ready but unlikely to be adopted by the initial July 1, 2026 target, having been sent back for committee review before its second reading. No firm replacement date has been confirmed, so the timeline now hinges on how quickly the remaining readings and approvals proceed.
Bitcoin just delivered its highest weekly close in five weeks. More notably, $BTC closed above its 200-week moving average support for the third consecutive week — resilience that stands out given the Nasdaq 100 fell more than 4% over the same period. That divergence from tech equities at a major support zone is exactly what bulls want to see.

The technical picture is constructive. The MACD has turned bullish, the RSI bullish divergence remains valid, and the Stochastic RSI is showing positive momentum. The bullish engulfing candle from three weeks ago is also still holding — a pattern that has appeared three times this cycle, each time followed by a strong rally.
The map is clean on both sides. Resistance sits at $67,000, then $83,000. Support sits at $58,000, then $49,000.
Two scenarios stand out. If BTC holds above $58K, it could break toward $67K and then $83K. If instead BTC closes below $58K on the weekly chart, the next meaningful support is around $49K. With price currently trading near $64K, the $58K weekly close is the line in the sand to watch.
Prosecutors filed five forfeiture cases as Secret Service agents traced funds from thousands of victims to launderers in Southeast Asia.
Nearly every country has yet to apply the rules, the watchdog said, warning of outright bans for platforms that don’t comply.
TRM Labs says the UK-sanctioned exchange has rotated hot wallets across blockchains, leaving address-list screening struggling to keep pace.
Plus, the BTC ETFs stay green. The Clarity Act hits a wall over who enforces the ethics rules. And Jack Mallers walks away from XXI Capital.
The free, open source workspace runs on Nostr, gives AI agents their own cryptographic identities, and challenges Slack and GitHub.
US ETF buyers dump Hyperliquid for XRP, front-running a $5.66M rotation as the CLARITY Act nears Senate approval before August recess.
Upbit flags Zilliqa (ZIL) as a cautionary asset following critical Ledger security vulnerability.
A multi-million dollar transfer of 1.16 trillion SHIB exits Coinbase for isolated wallets while Shiba Inu holds its $0.000004249 floor.
XRP Ledger's strucutre provides greater upside for bulls, despite the overall dullness of the market.
Bitcoin's single-day withdrawals on Binance have reached a five-month high as the recent market rally has driven renewed interest among investors.
TLDR
Cerebras Systems Inc. (NASDAQ: CBRS) climbed 7.05% to close at $223.27 after adding 14.70 points. The gain followed the announcement of a strategic partnership with CrowdStrike to strengthen AI-powered cybersecurity. The collaboration combines faster AI inference with enterprise security to improve real-time threat detection and response.
Cerebras Systems Inc., CBRS
CrowdStrike and Cerebras announced a strategic partnership focused on improving AI-driven cybersecurity. The agreement combines CrowdStrike’s Falcon AI Detection and Response platform with Cerebras’ high-speed AI inference technology. Both companies aim to deliver faster security decisions for enterprise environments.
The partnership targets the growing need for real-time protection against AI-driven cyber threats. Attack methods now move faster across systems and reduce response time for security teams. Therefore, both companies plan to improve detection speed through advanced AI processing.
CrowdStrike will use Cerebras inference technology to support Falcon AI Detection and Response workloads. Cerebras will standardize on the CrowdStrike Falcon platform to secure its own operations. The arrangement also reflects a broader trend of AI infrastructure companies adopting advanced cybersecurity platforms.
Cybersecurity requirements continue changing as AI increases the speed and complexity of digital attacks. Organizations now require AI systems that identify and respond to threats within seconds. As a result, inference performance has become an important part of modern security operations.
Cerebras stated that faster inference reduces delays during active cyber incidents. The company explained that every millisecond can affect whether AI blocks an attack or analyzes it afterward. Therefore, the partnership focuses on improving response speed without sacrificing detection quality.
CrowdStrike also expanded its AI Detection and Response strategy through this agreement. The platform already protects data, AI models, digital identities, and AI agents across enterprise environments. Moreover, the partnership extends those capabilities by adding faster AI processing for security workloads.
The agreement also strengthens Cerebras’ position beyond AI computing hardware. The company now expands its technology into enterprise cybersecurity through a commercial partnership with CrowdStrike. Consequently, the move creates another application for Cerebras’ high-performance inference systems.
CrowdStrike described the partnership as a combination of advanced security software and high-speed AI infrastructure. The company stated that deploying Falcon AI models on Cerebras technology increases processing speed for security tasks. Furthermore, Cerebras selected the Falcon platform to protect its own business operations.
The announcement arrived as organizations increase AI adoption across business systems and cloud environments. Companies continue seeking infrastructure that supports larger AI models while maintaining strong cybersecurity standards. Meanwhile, CBRS shares responded positively, finishing the session at $223.27 after gaining 7.05%, reflecting market confidence following the partnership announcement.
The post Cerebras Systems Inc. (CBRS) Stock Jumps 7% as CrowdStrike Partnership Powers AI Security appeared first on Blockonomi.
Shares of CrowdStrike (CRWD) declined 1.90% on Tuesday following the revelation of a strategic alliance with Cerebras Systems (CBRS), whose stock surged 4.04% on the disclosure.
CrowdStrike Holdings, Inc., CRWD
The collaboration brings together CrowdStrike’s Falcon security platform with Cerebras’s rapid AI inference capabilities to provide accelerated threat identification and mitigation for corporate clients.
According to the agreement, CrowdStrike will deploy its Falcon AIDR algorithms on Cerebras’s computing infrastructure. Simultaneously, Cerebras will implement the Falcon platform as its standard security solution for internal operations.
The partnership was officially revealed from Austin, Texas and Sunnyvale, California on July 22, 2026.
Falcon AIDR represents CrowdStrike’s AI Detection and Response solution. Its purpose is to provide comprehensive AI security spanning data protection, model integrity, agent monitoring, and identity management.
The technology was engineered to identify and neutralize threats at computational speeds — a capability that has grown increasingly vital as the window for effective response continues to narrow.
According to CrowdStrike, threat actors can now traverse multiple domains within seconds. This evolution has elevated the performance requirements for defensive security systems.
Naor Penso, CISO at Cerebras, articulated this urgency: “Every millisecond matters. It determines whether AI prevents an attack or explains what happened afterward.”
Cerebras has established a reputation for developing exceptionally rapid AI inference systems. This computational velocity is now being channeled into cybersecurity applications.
Through the integration of Falcon AIDR algorithms with Cerebras hardware, CrowdStrike claims it can implement more sophisticated, advanced models without compromising real-time performance.
Daniel Bernard, CrowdStrike’s chief business officer, stated: “By running Falcon AIDR models on Cerebras, we put the world’s best security AI on the world’s fastest inference.”
The alliance also reveals important trends in enterprise AI security strategy. Cerebras, an organization that manufactures AI infrastructure solutions, selected CrowdStrike to defend its own operational environment.
This represents a significant endorsement — a leading AI infrastructure provider trusting Falcon to secure the very systems it delivers to the market.
Both organizations maintain public listings on Nasdaq. Cerebras Systems operates under the ticker CBRS, while CrowdStrike trades as CRWD.
The alliance is characterized as a strategic partnership, with CrowdStrike framing it as a reinforcement of its dominant position in the AIDR sector, which the company claims to have originated.
When the partnership was announced, CBRS had climbed 4.04%, whereas CRWD had fallen 1.90%.
The post CrowdStrike (CRWD) Teams Up With Cerebras (CBRS) for Lightning-Fast AI Threat Detection appeared first on Blockonomi.
Robinhood Markets (HOOD) approaches its second-quarter 2026 earnings announcement scheduled for July 29 following the closing bell. Year-to-date performance shows approximately 6% decline as shareholders lock in gains from previous rallies.
The trading platform operator currently hovers near $105 per share, with analyst consensus suggesting potential appreciation to $116.46, representing approximately 10% upside.
Robinhood Markets, Inc., HOOD
Derivative markets indicate expectations for a 12.6% price swing following the quarterly report. This projection surpasses the company’s typical post-earnings movement of approximately 9% across the previous four reporting periods.
While one analysis suggests a 9.2% implied movement, TipRanks’ Options Tool calculates 12.6%. Regardless of the precise figure, significant volatility appears imminent.
Robinhood has consistently exceeded implied volatility forecasts. Across the last eight quarterly reports, actual price movements surpassed options-implied projections in six instances.
The most dramatic deviation occurred April 28, when a 7.9% implied move preceded a 22% decline. Similarly, February 10 saw an 8% forecast transform into a 13.3% selloff.
However, positive surprises have materialized as well. February 12, 2025 witnessed HOOD surge 21.3% despite an 11.4% implied movement.
Financial analysts project $0.42 earnings per share for the second quarter, essentially matching year-ago results. Top-line revenue forecasts stand at $1.27 billion, representing 28.4% annual expansion.
Digital asset trading performance will command significant attention. First quarter 2026 saw Robinhood deliver $160 million in cryptocurrency-related revenue, doubling year-over-year figures. Market participants seek confirmation of sustained momentum throughout Q2.
Trading volumes across equity, options, event contracts, and cryptocurrency markets will face intense scrutiny.
KeyBanc’s Alex Markgraff increased his HOOD valuation from $100 to $125, citing strengthening fundamentals and enhanced forward outlook. However, he anticipates cryptocurrency trading volumes remaining stable during 2026’s second half.
Markgraff also emphasized possible regulatory benefits stemming from the CLARITY Act, pending U.S. legislation designed to create comprehensive digital asset guidelines.
Needham analyst John Todaro elevated his target from $97 to $123 while maintaining a Buy recommendation. He characterized Robinhood as the financial services entity most strategically positioned to achieve “financial super app” status.
Todaro emphasized robust performance across virtually all critical metrics approaching the earnings event.
Per TipRanks data, HOOD maintains a Strong Buy consensus derived from 16 Buy ratings and 3 Hold ratings issued during the past three months. The $116.46 average price target suggests roughly 10% appreciation potential from present valuation.
The quarterly report arrives after market close on July 29.
The post Robinhood (HOOD) Stock Faces Crucial Q2 Earnings Test as Analysts Eye $125 Target appeared first on Blockonomi.
Shares of Micron Technology (MU) retreated 2.83% to $943.35 during Wednesday’s premarket session, reversing a portion of Tuesday’s impressive 12.17% advance that briefly restored the company’s valuation above the $1 trillion threshold.
Micron Technology, Inc., MU
The decline coincided with general softness across chip stocks, as Nasdaq futures decreased 0.53% while S&P 500 futures dropped 0.19%.
Micron has experienced a nearly 20% decline over the last 30 days, though the stock has soared approximately 800% across the past year. This volatility perfectly captures the semiconductor giant’s characteristic trading pattern — dramatic moves in both directions.
The previous day’s surge stemmed from heightened enthusiasm surrounding AI-powered memory demand, a narrative that has underpinned Micron’s investment thesis for more than twelve months.
Joseph Moore, an analyst at Morgan Stanley, characterized the recent selloff in American memory stocks as a compelling entry point. Moore anticipates memory pricing will increase by no less than 25% between Q2 and Q3 2026, citing ongoing data center supply shortages as the fundamental catalyst.
Moore’s industry research revealed no signs that data center market supply constraints are diminishing. He cautioned that shortages might intensify through 2027 and 2028 as artificial intelligence implementations expand.
The investment bank indicated it plans to accumulate positions in the sector during periods of weakness.
Micron’s positioning in high-bandwidth memory and AI server components places it squarely within this growth narrative. The company’s products serve data centers, enterprise servers, mobile devices, personal computers, and automotive applications, though the AI component remains the primary focus for the investment community.
Earnings announcements scheduled for Wednesday afternoon could trigger movement in Micron shares.
Alphabet (GOOGL) releases results after market close. Google’s progress in chip efficiency has sparked speculation about potential reductions in external memory requirements. However, robust AI investment guidance from Alphabet might equally benefit Micron as a critical component provider.
Tesla (TSLA) announces earnings after the closing bell as well. The electric vehicle manufacturer’s growing artificial intelligence operations position it as a relevant indicator for the memory industry.
IBM completes the lineup. The technology veteran’s challenges have partially stemmed from enterprise clients reallocating budgets from legacy software and mainframe systems toward AI infrastructure — a migration that generally supports chip manufacturers like Micron.
Financial analysts maintain predominantly positive views on MU. The consensus price objective reaches $1,548.86, substantially exceeding the current trading level.
Recent upward revisions include Keybanc increasing its projection to $1,750 on July 14, while Cantor Fitzgerald elevated its estimate to $2,000 on June 29 — both firms maintaining Overweight recommendations.
Micron represents a significant component in several semiconductor exchange-traded funds. The stock comprises 9.78% of the Invesco PHLX Semiconductor ETF (SOXQ), 8.39% of the Invesco S&P 500 Momentum ETF (SPMO), and 8.03% of the iShares Semiconductor ETF (SOXX).
This substantial ETF representation indicates that significant fund movements can drive MU’s valuation beyond what company-specific developments alone might justify.
Cantor Fitzgerald maintains the Street’s most aggressive projection at $2,000, established on June 29.
The post Micron (MU) Stock Retreats Ahead of Major Tech Earnings Reports appeared first on Blockonomi.
ServiceNow faces a pivotal moment as it prepares to unveil Q2 2026 financial results Wednesday afternoon. Currently trading near $104, shares have tumbled 33% year-to-date and are down 47% from their levels twelve months ago.
ServiceNow, Inc., NOW
Consensus estimates call for adjusted earnings per share of $0.86, representing growth from $0.82 in the year-ago period. On the top line, analysts are modeling $3.93 billion in revenue, translating to approximately 22% year-over-year expansion.
The options market is telegraphing heightened volatility ahead. Implied movement stands at 12.41% in either direction following the print — notably above NOW’s trailing four-quarter average post-earnings move of 8.59%. This divergence underscores growing market uncertainty.
The company’s previous quarterly report proved challenging. Q2 guidance delivered three months ago fell short of expectations, amplifying investor anxiety that artificial intelligence is eroding demand for conventional enterprise software. Shares plunged 18% in the subsequent trading session.
The fundamental worry is relatively simple: artificial intelligence capabilities threaten to diminish the headcount companies require — and ServiceNow’s legacy revenue model depends on per-user licensing. Reduced user counts translate directly to revenue pressure.
Emerging technologies such as AI agents are demonstrating growing proficiency in IT ticketing and incident resolution — functions that represent core ServiceNow value propositions. Market participants are monitoring subscription renewal metrics carefully, which most recently stood at 97%.
The company is actively adapting its strategy. Management has reframed ServiceNow as an AI orchestration platform for enterprise customers, emphasizing governance capabilities and AI model management. The latest annual filing leads with AI-focused messaging — a notable departure from prior communications.
Pricing architecture has also evolved. The legacy per-user subscription framework now incorporates AI consumption-based revenue streams as a hybrid approach. This transition is creating gross margin headwinds, though management has partially mitigated the impact through disciplined operating expense management.
The April acquisition of cybersecurity company Armis for $7.8 billion introduces additional variables. A short-term $4 billion credit facility associated with the transaction — coming due in October — is elevating interest expense and creating operating margin pressure.
Analyst opinion shows divergence. CLSA launched coverage earlier this week with an Underperform recommendation and $72 price objective, representing roughly 29% downside from current trading levels. The firm highlighted valuation concerns relative to projected growth trajectories.
The consensus view across Wall Street skews more optimistic. According to TipRanks data encompassing 32 Buy recommendations, two Hold ratings, and one Sell rating, NOW maintains a Strong Buy consensus designation. The average analyst price target of $139.25 suggests approximately 33% appreciation potential from present levels.
Wednesday’s most critical data point will be cRPO — current remaining performance obligation — representing contracted revenue expected to be recognized over the coming 12 months. This metric will largely determine immediate market response to the quarter.
The post ServiceNow (NOW) Stock: Q2 Earnings Preview as AI Disruption Concerns Intensify appeared first on Blockonomi.
An entity deeply affiliated with Ripple was shortlisted for several recognitions at one of the industry’s most respected hedge fund award ceremonies.
XRP has entered green territory over the past week, while the recent behavior of the whales and renewed interest from institutional investors signal that the bears may lose even more ground in the short-term.
The Hedgeweek US Awards – annual industry honors recognizing top-performing hedge funds and leading service providers across the United States – will take place on October 8 in New York.
The nominated companies have been announced, and interestingly, Ripple Prime was included in four of the categories: Prime Broker of the Year: Client Service, Prime Broker of the Year: Technology, Prime Broker of the Year: Specialist Markets, and Prime Broker of the Year: Start-up & Emerging Managers. Competition for the entity will include well-known brokerage firms such as Mirae Asset Securities and Interactive Brokers.
Speaking on the matter was Ripple Prime’s CEO Mike Higgins, who thanked all clients and partners for their “continued trust” in the platform, its solution, and services. He also noted that voting for winners is open.
Another recent Ripple-related development is the evident return of big XRP investors. As CryptoPotato reported, whales and sharks holding between 100,000 and 100 million tokens each have added almost 3% more coins to their bags in the past five weeks. At the same time, smaller players (those owning less than 0.01 XRP) have reduced their exposure.
“Historically, XRP price has tended to move more with key stakeholders and against the smallest retail wallets, so this split supports the bullish case behind the bounce,” the analytics platform Santiment explained.
Institutional investors have also shown renewed appetite toward XRP. SoSoValue’s data shows that lately spot XRP ETFs have attracted millions of dollars of capital, with the last red day being July 8. The past trading week was also in the green, with roughly $7 million in net inflows. However, four out of the five trading days saw no reportable action, which raised some eyebrows.

The launch of these products was highly anticipated across the community, and the first one (which has 100% exposure to the asset) saw the light of day in November 2025. Its issuer is Canary Capital, while prominent companies like Franklin Templeton, 21Shares, Grayscale, and Bitwise followed shortly after. Since day 1, these investment vehicles have generated a cumulative total net inflow of almost $1.5 billion.
The asset is currently worth around $1.14, representing a 3% increase on a weekly scale. Whale activity and interest in spot ETFs only reinforce the scenario shared by many analysts that XRP is poised for more substantial gains in the short term.
Earlier this week, Ali Martinez labeled $1.13 a level of huge importance, claiming a decisive breakout above could open the door for further upside to as high as $1.30. He later confirmed the setup, saying that XRP has cleared resistance, but the token remains sideways around that line as of press time.
Cryptollica also chipped in. A few days ago, the analyst argued that “there is no better opportunity” than XRP right now, stating that it has reached an all-time low oversold level.
The post Ripple News Today and XRP Price Update: July 22 appeared first on CryptoPotato.
Crypto analyst EGRAG CRYPTO posted on X on Wednesday that Bitcoin (BTC) is forming an Adam and Eve double bottom on its weekly chart, a pattern that is not yet confirmed but could open the door to $173,000 if it plays out.
The setup hinges on a decisive weekly close above $83,000, followed by a retest that holds that level as new support.
According to EGRAG, the double bottom is forming inside the $51,000 to $67,000 support band, with an aggressive V-shaped low forming the Adam side and a slower, rounded base forming the Eve side. The neckline sits at $83,000.
Getting there, per EGRAG’s roadmap, means holding the current bottom, reclaiming $68,000, then breaking and retesting $83,000 before the move can extend toward $103,000, then $120,000 to $126,000, and finally $173,000.
“$83K is the gateway,” wrote the analyst. “Break it, hold it, and the Adam & Eve structure can trigger the next major expansion.”
However, he did warn that a weekly close below approximately $51,000 would invalidate the whole setup.
Other traders have also chipped in with numbers of their own, including Ted Pillows, who pointed to Bitcoin’s daily Supertrend flipping green, noting that the last time that happened, BTC gained almost 15% in four weeks, and a repeat would put it near $76,000 by August.
But not everyone agrees the move up will continue, one of them being ChartNerd, who called this rally a countertrend move back in April. According to him, the 200-week EMA near $68,000 could be the local top before a final drop into late Q3 or Q4.
A separate note from Axel Adler Jr. added some nuance: realized volatility has fallen 31% this month to its lowest since 2016, and leverage, measured by open interest against market cap, has declined for 21 straight days, a combination he says makes the current bounce of more than 11% off the June 30 low near $59,000 less prone to a forced liquidation cascade.
Meanwhile, Markus Thielen, in a report for BIT, said implied volatility on Bitcoin and Ethereum options has climbed back to 36% after dropping to 31% from 44%, a shift he read as rising demand for upside calls heading into the usually quieter summer months.
BTC was trading near $66,000 at the time of writing, down slightly on the day but up over 2% in the past week and close to 3% in the last month.
Data from CoinGecko shows that at one point, the asset came within touching distance of $67,000 before it was dragged back to its current level, which puts it about 47% below its all-time high from October 2025 when it went past $126,000.
That bounce has come alongside a resumption in inflows for spot Bitcoin ETFs, after eight weeks of outflows, as well as improved sentiment following news that there has been some progress on the CLARITY Act’s ethics language.
Bitfinex has flagged $68,000 as the next test for the OG cryptocurrency. It says there’s a reaction zone between $67,900 and $68,300 where short-term holders may look to sell, and that a real breakout will need spot buying rather than speculation to hold.
The post Bitcoin Could Rally to $173K if This Pattern Plays Out: Analyst appeared first on CryptoPotato.
The world’s largest cryptocurrency exchange will temporarily suspend certain services later this month.
Additionally, it will delist numerous trading pairs “to protect users and maintain a high-quality trading market.”
Binance will perform a wallet maintenance for the Tron Network on July 23, and to support the process, it will briefly pause TRX deposits and withdrawals. The operation is expected to take about one hour, following which everything should resume normally. In addition, the exchange will support an upcoming Zcash hard fork and, as a result, temporarily suspend ZEC deposits and withdrawals.
“The network upgrade and hard fork will take place at block height 3,428,143, or approximately 2026-07-28 13:00 (UTC),” the disclosure reads.
In both cases, token trading will not be impacted, while Binance promised to handle all technical requirements involving users.
Such efforts are quite common and usually cause no serious implications for clients. Less than a month ago, Binance briefly halted deposits and withdrawals on the Bitcoin (BTC) network to perform similar wallet maintenance.
Prior to that, it took similar actions to support improvements across various ecosystems, including Ethereum (ETH), Cardano (ADA), and more. There haven’t been reports or complaints of major issues, and everything was restored promptly.
Binance is known for closely monitoring all services and digital assets listed on its platform to ensure they meet industry standards, such as team commitment, development activity, trading volume, liquidity, network stability, and more. Based on its latest review, it decided to remove the spot trading pairs: ACX/USDC, ALGO/BTC, CVC/USDC, LPT/USDC, ONG/BTC, RVN/USDC, and XRP/BNB. The actual delisting is scheduled for July 24.
Meanwhile, the same action will apply to several pairs from the Margin section on July 24. Those include the cross margin pairs CYBER/USDC, DOLO/USDC, PIXEL/USDC, and STEEM/USDC, as well as the isolated margin pairs DOLO/USDC, PIXEL/USDC, and STEEM/USDC.
The announcements have not triggered a negative price impact for the involved cryptocurrencies. However, it is a completely different story when Binance terminates all services with a certain digital asset. Last month, it delisted Alchemix (ALCX), Ardor (ARDR), NFPrompt Token (NFP), and Marlin (POND), causing double-digit collapses for the affected ones. A very similar thing was observed at the start of June when it said goodbye to Contentos (COS), Dar Open Network (D), Highstreet (HIGH), and MOBOX (MBOX).
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XRP briefly climbed above $1.16 and is being supported by accumulation from large holders rather than retail demand, according to the latest findings by Santiment.
The analytics firm found that wallets containing between 100,000 and 100 million XRP expanded their holdings by 2.8% over the past five weeks. Wallets with less than 0.01 of the token, on the other hand, cut their balances by 5.2%.
Santiment said XRP has historically tracked the behavior of key stakeholders more closely than the smallest retail wallets, which makes the divergence supportive of the recent price recovery.
The accumulation trend comes as the crypto asset continues to benefit from a stronger market narrative, including the resolution of Ripple’s SEC overhang and ongoing XRP Ledger activity tied to payments, tokenization, and RLUSD. At the same time, US-based spot XRP ETF products have continued to attract institutional interest, recording nearly $12.5 million in net inflows so far this month.
Similar periods of accumulation by stronger holders alongside declining participation from micro wallets have often created conditions that favor further upside, the firm added.
From a technical perspective, ChartNerd said XRP faced another rejection after testing its daily 50-day exponential moving average (EMA), the same technical level where its previous two rallies lost momentum. The price has since pulled back to around $1.13. Despite the rejection, he said the bullish outlook remains intact as long as the crypto asset holds the $1.11-$1.09 support zone.
Maintaining that range could preserve momentum for a move toward $1.25. However, the analyst warned that a break below the support area would weaken the current setup and increase the likelihood of falling back to the $1 level. He had previously rejected claims circulating on social media that XRP had already broken out of the downtrend that started in July 2025.
Offering a similar view, analyst Ali Martinez also said a decisive move above the $1.13 level could confirm XRP’s bullish breakout and open the door to further gains.
Others believe the cross-border token continues to trade within a year-long descending pattern, and only a clear break above $1.20-$1.30 soon could invalidate the setup.
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[PRESS RELEASE – London, United Kingdom, July 22nd, 2026]
OpenPayd, a leading provider of financial infrastructure, has been recognized among CNBC’s World’s Top Fintech Companies 2026, earning a place in the Enterprise Fintech category.
Following an assessment of more than 3,500 companies and 25,000 data points, CNBC and Statista recognized 500 companies across eight fintech segments spanning more than 50 countries and territories. This year’s editorial highlights a fintech industry entering a new phase of maturity, where scale, profitability and regulatory maturity are increasingly defining success, while enterprise technology, artificial intelligence and digital assets continue to reshape how financial services are delivered.
Enterprise Fintech represents one of the industry’s fastest-evolving segments, encompassing companies delivering technology-driven solutions for financial institutions and businesses, including embedded finance, Banking-as-a-Service, Open Banking and finance-related process automation. CNBC describes the category as representing “a crucial part of how financial services operate today”, reflecting the growing importance of the infrastructure underpinning modern financial services.
Through a single API, OpenPayd’s rails-agnostic platform enables more than 1,200 businesses to move and manage money globally across traditional finance and digital assets, combining embedded accounts, domestic and international payments, foreign exchange, Open Banking and stablecoin infrastructure into one regulated platform. Today, the company processes more than $280 billion in annualized payment volume and continues to expand its regulatory footprint and financial infrastructure capabilities, helping businesses simplify global money movement across an increasingly interconnected financial ecosystem.
OpenPayd’s inclusion among CNBC’s World’s Top Fintech Companies 2026 reflects the growing importance of enterprise financial infrastructure as businesses modernize how they move and manage money globally. As financial services become increasingly interconnected across payment rails, currencies and digital assets, OpenPayd remains focused on removing complexity through a single, interoperable platform that enables businesses to scale globally with confidence.
OpenPayd is building the universal financial infrastructure for the digital economy. Founded in 2018 by Dr. Ozan Ozerk, its rails-agnostic platform enables businesses to move and manage money globally – across fiat and digital assets – through a single, powerful API. OpenPayd provides embedded accounts, FX, domestic and international payments, Open Banking, and stablecoin on/off ramps – delivering interoperability between traditional finance and digital assets. With one of the most comprehensive banking networks in the market, OpenPayd enables real-time money movement, everywhere.
Trusted by global brands including eToro, Kraken, OKX, and B2C2, OpenPayd processes more than $280 billion in annual volumes for over 1200 businesses. It is the infrastructure layer powering the next generation of financial services.
Note to Editor
For further information, contact press@openpayd.com
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