Rising inflation fears and AI bond issuance may drive investors towards gold, impacting global financial stability and borrowing costs.

The post Global bond prices fall as inflation fears rise, AI bonds issued appeared first on Crypto Briefing.

Rising Treasury yields may signal tighter monetary policy, impacting borrowing costs and shifting investor focus from gold to higher-yield assets.

The post 30-year US Treasury yield, highest since 2007 appeared first on Crypto Briefing.

The closure of the Strait of Hormuz exacerbates geopolitical tensions, impacting global oil markets and complicating diplomatic resolutions.

The post Iran keeps Strait of Hormuz closed until US meets deal conditions appeared first on Crypto Briefing.

The closure of the Strait of Hormuz exacerbates geopolitical tensions, impacting global oil markets and increasing the risk of military conflict.

The post Iran keeps Strait of Hormuz closed amid US-Iran standoff appeared first on Crypto Briefing.

Trump's criticism may strain diplomatic ties, reducing chances for a U.S.-Iran deal and impacting market confidence in a peaceful resolution.

The post Trump criticizes US allies amid Iran tensions, complicating deal prospects appeared first on Crypto Briefing.

Bitcoin Magazine

Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research

New data from Galaxy Research shows that $115 million in bitcoin has been lost in the Coldcard theft. 

Writing on X Sunday, Galaxy Research said that it had spoken with over 200 victims to support them and gather intelligence on the attackers. 

The figures are based on the price of bitcoin at the time of the attack. 

Hackers started taking bitcoin stored using Coinkite’s popular Coldcard hardware wallet on July 31. 

Canadian company Coinkite said that a firmware bug in Coldcard Mk3 devices — starting with version 4.0.1 in March 2021 — caused seed generation to fall back to a weak software Pseudorandom Number Generator instead of the hardware true random number generator, allowing hackers to essentially guess investor seedphrases. 

The number has slowly risen as the criminals have targeted more recent devices while Coinkite and other Bitcoiners have urged Coldcard users to immediately move their funds. 

Galaxy Research last week said that it estimates at least 15 separate attackers were exploiting the bug independently. 

Previous research from Galaxy found that the typical stolen coin had sat untouched for 3.5 years, and a striking 88% of pilfered funds were at least a year old. 

The firm is still confirming how much is stolen, and has said that total losses could exceed $130 million. 

Since the attack, cautious investors have been moving their coins to other storage solutions — including exchanges.

Coinkite said in a statement this week that the bug in its software “silently went unnoticed” and “its potential impact grew with every release” of its products. 

Days after the first hack, the company urged investors to update their software or move their funds off the popular hardware wallet. 

This post Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Jane Street Reveals Nearly $1B Bitcoin Position 

Quantitative trading firm and liquidity provider Jane Street has a nearly $1 billion bitcoin position — or 15,394 BTC at today’s prices. 

But the position is not held in the form of digital coins: According to a regulatory filing with the Securities and Exchange Commission, the Wall Street giant holds $990 million in Bitcoin exchange-traded funds, spread across major ETFs like BlackRock’s iShares Bitcoin Trust, Fidelity’s Wise Origin Bitcoin Fund, and Grayscale’s Bitcoin Trust. 

The lion’s share of the firm’s holdings are in BlackRock’s fund, with $828 million solely invested in the fund, according to the filing. 

BlackRock’s fund is the biggest and most popular of the spot Bitcoin ETFs, which were approved and started trading at the beginning of 2024. The fund has received more cash than any other crypto ETF and currently has $47.3 billion in assets under management. 

Major firms have been able to buy exposure to the asset via shares of the regulated vehicles that trade on stock exchanges. 

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

Jane Street on Monday posted its first losing month in about a decade, revealing roughly $15 billion in July losses. 

The loss was driven mainly by its stake in AI-focused hedge fund Situational Awareness, which stumbled badly amid AI bet losses and margin calls, and by bad bets in Asian equity markets.

Despite the loss, Jane Street has made over $40 billion in net trading revenue year-to-date, according to Bloomberg. That’s already more than all of 2025, when it set a Wall Street record with $39.6 billion, beating Goldman Sachs and JPMorgan. 

Wall Street titans Edelman Financial and Tudor Investment Corporation last week also revealed significant Bitcoin positions, along with Abu Dhabi’s sovereign wealth funds.  

This post Jane Street Reveals Nearly $1B Bitcoin Position  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Investors Cash Out Fast of Bitcoin ETFs but Price Remains Stable

American investors have reversed course, cashing out of spot Bitcoin exchange-traded funds after a hot run at the beginning of August. 

Data from Farside Investors shows that investors pulled over $385 million from the U.S. funds last week. The week before, the funds had received fresh cash every day, bringing in more than $865 million in investment — their biggest inflows since April. 

The turn in sentiment comes as the price of the biggest cryptocurrency remains flat: Bitcoin was recently trading for $64,066, unmoved over the past week and last 30 days. 

Investors initially seemed unfazed by the huge Coldcard hack on July 31, when cybercriminals stole over $115 in Bitcoin after discovering a vulnerability in the popular product’s software. 

Bitcoin investors also shrugged off a delay in a vote on the long-awaited crypto Clarity Act, continuing to buy into the funds despite negative regulatory news. 

But things last week changed, with investors pulling cash out of the major investment vehicles as tensions in the Middle East started to escalate again. 

BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund experienced the biggest outflows last week, while Morgan Stanley’s fund, which debuted in April, received net inflows. 

Current macroeconomic headwinds, such as the U.S. war with Iran and rising oil prices, could see inflation go up again. The price of Bitcoin has typically done well on news that inflation is cooling because investors expect interest rates to come down.

Bitcoin — along with stocks — has experienced price bumps when President Trump has hinted that a deal with Iran was imminent, but the current war appears to have no end in sight. 

While the price of Bitcoin has been relatively stable — it hasn’t budged over the past month — a July report from NYDIG said that the asset’s year-to-date performance makes it the worst-performing asset, losing out against U.S. treasuries, silver, and currencies like the Swiss Franc. 

It added that if Bitcoin’s price action were to match other drawdowns — like the bear market of 2022 — a “potential cycle low near $38k-$39k” was possible.

This post Investors Cash Out Fast of Bitcoin ETFs but Price Remains Stable first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

US Treasury Asks For Public Input on Landmark Genius Act Crypto Legislation 

The U.S. Department of the Treasury is moving fast with crypto regulation, with the government body asking for public comment on the landmark GENIUS Act. 

In a Monday announcement, the Treasury said that it was welcoming input from stakeholders on a proposed rule that would provide clarity to industry regarding who needs a license to issue a stablecoin. 

President Donald Trump signed the GENIUS Act into law in 2025. The legislation allows banks and other entities to issue stablecoins if they back the tokens with assets like U.S. Treasuries and provide monthly disclosures of their reserves.

While the law was passed by Congress last year, U.S. regulations typically require agencies to draft and finalize more specific implementing rules — with a period for public comment — before those rules take legal effect. The overall effective date of the GENIUS Act is expected to be January 18, 2027, with stricter offer and sale prohibition of stablecoins prohibited from July 18, 2028. 

“President Trump and Congress delivered the GENIUS Act, establishing a landmark framework and clear rules of the road for payment stablecoins, and Treasury is moving quickly to implement that framework,” Treasury Secretary Scott Bessent said in a statement. 

“Treasury welcomes input from stakeholders as we work to provide the regulatory certainty businesses need to innovate and grow in America, cement the role of the U.S. dollar as the world’s reserve currency, and keep America the crypto capital of the world,” he added. 

The statement added that from January 2027, a person generally may not “issue a payment stablecoin in the United States” unless the person has obtained an appropriate federal or state license. 

Questions for stakeholders in consultation include whether key terms are defined clearly enough, when exactly a stablecoin should be considered “issued,” and what due diligence obligations digital asset service providers should have when relying on a foreign issuer’s compliance representations. 

The consultation comes as the U.S. races to craft laws to regulate the crypto industry. Lawmakers were this month aiming to get a vote on the crypto market structure bill, the Clarity Act, but it was delayed until September. 

Bessent this year urged lawmakers to get the Clarity Act over the line. 

President Trump said this month passing legislation like the Clarity Act is necessary for the U.S. to take the lead over China. He also claimed that more people were using Bitcoin to make payments.

This post US Treasury Asks For Public Input on Landmark Genius Act Crypto Legislation  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Strategy Goes Another Week Without Buying — Or Selling — Bitcoin, Builds Up Cash Reserve 

Bitcoin treasury Strategy has gone another week without buying the leading cryptocurrency — but didn’t sell any this time. 

The Nasdaq-listed company said Monday in a regulatory filing that it had upped its cash buffer by selling 3,458,866 shares of MSTR common stock to generate $333.7 million. 

Strategy used $52.4 million to pay dividends on its STRC preferred stock, then spent $132.2 million to buy the stock back. It also added $149.1 million to its dollar reserve.

Strategy — formerly MicroStrategy — has recently pivoted to common stock sales to build up its cash reserves, rather than buying Bitcoin.

It has halted its Bitcoin sales and even sold a chunk of its holdings over the past two months after aggressively buying in 2025. 

Strategy stock (Nasdaq: MSTR) has taken a hit in 2026, dropping over 60% year-to-date. At a little over $95 a pop, it is currently trading nearly 80% below its 2024 record. 

The company started buying Bitcoin in 2020 as a way to protect shareholder returns. It has since become the largest corporate holder of Bitcoin, with 840,447 coins worth $53.4 billion, acquired at an average price of $63,357, according to its website. 

Despite focusing on its cash buffer, Strategy has reassured investors that its long-term posture toward Bitcoin is still the same. CEO Phong Le said earlier this month that he isn’t worried about the current bear market, and that the company plans to remain a long-term buyer of Bitcoin despite its recent sales.

“We’re the J.P. Morgan of the crypto economy, so whether we sell 1,000 Bitcoin out of 840,000 to me is irrelevant to the conversation,” Le said. 

Strategy’s approach has spawned a wave of copycat companies that have since adopted similar crypto-treasury strategies of their own.

This post Strategy Goes Another Week Without Buying — Or Selling — Bitcoin, Builds Up Cash Reserve  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

An anonymous trader on Polymarket holds a No position on the CLARITY Act worth about $414,895, roughly 2.6 times larger than the $160,200 in liquidity currently available on the market where it sits.

CryptoSlate's live market data puts CLARITY Act odds near 20% Yes, a number now widely read as Washington's probability estimate for the bill. The real issue is how much of that 20% reflects a broad crowd and how much comes from one position sitting on a thin book.

A number that measures the wrong thing

Predictbook identified on Aug. 11 that the account was newly created, with no trading history before this position began. The trader deposited about $499,999 in USDC and spent roughly $398,122 building the No side across three trades.

The final two trades landed roughly 14 hours past the first, adding about 382,601 shares at average prices near 75.55 cents and 77.61 cents.

The account held 515,398 No shares when the report was published, making it the market's third-largest No holder at the time, with roughly $101,877 left unspent, equal to about 64% of displayed liquidity.

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Nothing in the public record identifies who controls the account or why it built the position.

CLARITY's Polymarket page also shows $7.11 million in cumulative trading volume, a figure that can make the market look far deeper than it currently is. That number doesn't reflect how much can trade right now without moving the price.

Polymarket runs on a central limit order book, where resting bids and asks set the price a trader can get. The company's documentation says the displayed probability is normally the midpoint between the best bid and the best ask, and that buyers pay the ask while sellers receive the bid.

A large order works through those resting bids and asks one level at a time. The price it pays reflects that entire path, well past the single number displayed at the top of the page.

Sept. 15 brings the market its first real test

The Senate's schedule sets a cloture vote on the CLARITY Act for 2:15 p.m. on Sept. 15. That gives the market its first real information event since the No position was built, one where new political developments and potentially large orders could hit the book at the same time.

The bill's path through Congress remains difficult regardless of the vote's outcome. The House passed its version in July 2025, but CLARITY still needs Senate reconciliation, a 60-vote threshold, alignment between House and Senate text, and a presidential signature.

CryptoSlate ran a test in the order book on Aug. 17, when the market showed a 19% Yes bid, 20% Yes ask, and 19.5% midpoint.

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Jul 17, 2025 · Gino Matos

A simulated $100,000 Buy Yes order would have cleared at a 42.18% average price and touched a final ask of 87%, while a $250,000 Buy Yes order would have exhausted visible ask-side liquidity after $138,559.81.

On the downside, a simulated $100,000 Sell Yes order could fill only $20,917.91 before exhausting visible bids down to 1%.

The live sweep showed visible depth was thin enough that even six-figure orders could either radically reprice the book or fail to fill in full, turning a quick exit into an issue.

Why a prediction market number carries real CLARITY stakes

CLARITY is the main proposal dividing crypto oversight between the SEC and CFTC, and its odds have become shorthand for whether that market structure clarity arrives this year or slides into rulemaking and litigation.

The bull case has cloture momentum building enough that Yes odds reprice sharply higher, potentially into the 35% to 60% range, putting the anonymous trader's No position through its own liquidity test.

At the Aug. 17 sweep snapshot, $100,000 of simulated Buy Yes demand pushed the marginal visible ask to 87%.

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Aug 3, 2026 · Gino Matos

The bear case has the cloture vote confirming the bill's difficult path, pushing Yes odds down toward the single digits and lifting the trader's mark-to-market gains, though the harder question stays open.

Locking in profit on a position 2.6 times the size of the market's liquidity depends on finding buyers willing to take the other side at prices close to the mark.

Polymarket's 20% is being read across crypto and policy circles as a real-time verdict on CLARITY's chances. Behind that number is one account holding more No exposure than the market currently has liquidity to support, and a live book that could be moved dramatically by six-figure flow.

The post Polymarket’s 20% CLARITY Act odds sit on a market one $100K trade could radically reprice appeared first on CryptoSlate.

Bitcoin returned 87 times over a decade, while only 13% of actively managed US large-cap equity funds beat comparable passive funds' benchmarks through June 30, according to Morningstar data reported by The Wall Street Journal.

That rate rose to 27% over the latest 12 months, and Wall Street has argued that AI-driven dispersion and higher interest rates should give stock pickers more room to outperform.

Bitcoin closed at $673.34 on June 30, 2016, and closed at $58,558.86 on June 30, 2026. This means a $10,000 position in the top crypto will grow to about $869,677.

That equals roughly 87 times the original capital and an 8,597% total return, resulting in Bitcoin compounding at about 56.3% a year over the period.

State Street lists SPY’s 10-year annualized total return at 15.35% through June 30, with distributions reinvested. A $10,000 investment compounded at that rate reached about $41,704, and Bitcoin finished with about 20.9 times the final wealth.

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Fund mandates kept most active large-cap managers inside equities, since US spot Bitcoin ETFs arrived only in 2024. Investors made the broader comparison at the portfolio level, where capital could move across asset classes.

Investors spent years deciding whether professional stock selection could earn enough excess return to justify its fees. A separate allocation to Bitcoin generated a far larger dollar outcome for holders who endured its volatility.

The stock picker’s market faces Bitcoin

S&P 500’s 10 biggest members represent more than 40% of its weight, according to Dow Jones Market Data, the highest concentration since the 1960s.

Market cap weighting automatically gives more weight to companies as their valuations climb, so a diversified active manager can trail the benchmark by holding smaller positions in the stocks already driving index returns.

Wide dispersion gives managers more chances to identify winners, while extreme concentration raises the cost of missing a few dominant names. A manager can make several successful selections and still trail an index powered by a small group of mega-cap companies.

The benchmark absorbs more exposure to its strongest constituents as their market values expand. Active managers have to decide how closely their portfolios should resemble that concentration.

A Bitcoin holder made one asset-allocation decision and carried that exposure through an entire decade. The return depended heavily on surviving losses that would breach many conventional portfolio limits.

Wells Fargo notes that Bitcoin fell about 83% from its 2017 peak, and later fell about 77% from its 2021 peak. A holder seeking the full 87x decade return had to absorb both collapses without abandoning the position.

Those drawdowns make the historical result harder to replicate in real time than the final numbers imply. Bitcoin also carried custody, liquidity, tax, and portfolio-risk characteristics far removed from SPY or a diversified large-cap fund.

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ICI reported $18.8 trillion in active mutual funds and ETFs as of June 2026, with indexed mutual funds and ETFs holding nearly $21.9 trillion. Long-term active funds recorded $7.78 billion of net outflows, and long-term index funds attracted $119.32 billion.

Those numbers show how investors have already weighed in on the active-versus-passive debate. Passive products have captured more assets and new money as most large-cap active funds struggle to clear their benchmarks over long periods.

Bitcoin adds an asset-allocation dimension to that debate, with the decade’s largest difference in this comparison coming from exposure to another asset class. Manager selection inside US equities operated within a much narrower range of outcomes.

Two paths for active managers

The bull case for active management depends on equity gains broadening beyond the largest companies. A wider group of AI beneficiaries and sector leaders would give managers more opportunities to exploit dispersion.

Broader participation would also reduce the penalty for holding smaller weights in the index’s dominant stocks.

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Apr 29, 2026 · Liam 'Akiba' Wright

The bear case keeps benchmark concentration near current extremes. Passive funds would continue increasing their exposure to winners as market values climb. Active managers with tighter diversification limits could keep falling behind whenever a few mega-cap names account for an outsized share of index returns.

Another deep drawdown for Bitcoin could erase years of gains for buyers who enter near a cycle peak. The 2017 and 2021 collapses show how much endurance the historical return required.

Investors who held Bitcoin through two drawdowns near 80% finished the decade with roughly $828,000 more than the equivalent SPY position. That outcome puts the scale of portfolio allocation beside the narrower fight over who can pick stocks well enough to beat an index.

The post Bitcoin turned $10,000 into $870,000 in a decade where 87% of active stock funds failed to beat passive rivals appeared first on CryptoSlate.

KuCoin activated a rule after 08:00 UTC on Aug. 17 that moves USDT- and USDC-margined perpetual contracts to hourly funding settlement once their contract-specific funding cap or floor is reached.

The change applies starting with the next funding period and will happen without a separate announcement, shortening the time between potential funding debits and credits for traders who keep positions open.

Under the mechanism, the trigger is the funding rate at a scheduled settlement. If that rate is at or above the contract's upper limit, or at or below its lower limit, KuCoin switches the contract to a one-hour interval unless it is already settling hourly.

KuCoin said the interval adjustment changes settlement frequency but leaves its funding calculations, funding limits, and users' positions unchanged. Funding may be debited or credited more often, but cumulative cost still depends on the realized rates, the side and size of the position, and how long it remains open.

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KuCoin perp change explained

The exchange requires 36 consecutive one-hour settlements with an absolute funding rate no greater than 0.002%, and a reading above that threshold resets the count. Once all 36 periods qualify, the post-trigger schedule moves from hourly to four-hour settlement starting with the 37th period, again without separate notice.

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KuCoin does not apply a universal cap or starting interval, and its announcement uses a Bitcoin perpetual with upper and lower limits of plus and minus 0.3% as an example.

At 20:15 UTC on Aug. 17, KuCoin's live XBTUSDTM contract data showed a 0.003 cap, a minus 0.003 floor and an eight-hour interval. Its current funding rate fell within those limits, so the contract had not entered the mechanism's hourly phase.

KuCoin's broader active-contract data at the same time showed only COTIUSDTM on an hourly interval. That cycle began July 28 under a separate KuCoin notice, before the automatic rule took effect, so the first-day reading did not identify a contract newly in an automatic hourly state, although it cannot rule out a brief activation earlier in the day.

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For traders, the change is timing. Reaching a contract's limit can turn the next funding period into an hourly balance sheet event, while returning to a slower schedule requires at least 36 consecutive qualifying hours. The realized rate still determines each transfer.

The post KuCoin’s new perp rule can turn one funding-rate extreme into 36 hours of hourly settlements appeared first on CryptoSlate.

Solana treasury company SOLAI Limited (formerly BIT Mining) said shareholders approved a capital reset that leaves it with 100 billion authorized Class A ordinary shares after a 700-for-1 consolidation. The vote came nearly a month after the New York Stock Exchange suspended trading in its American depositary shares.

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SOLAI Limited said Monday that investors at an Aug. 14 extraordinary general meeting first approved increasing authorized Class A shares from 38.4 billion to 70 trillion, representing the authorized capacity for the pre-consolidation shares.

They then approved an immediate consolidation of every 700 ordinary shares into one, reducing the authorization to 100 billion shares in post-consolidation units.

In comparable post-consolidation units, the former 38.4 billion-share authorization would have equaled about 54.86 million shares, making the new ceiling roughly 1,823 times larger. Monday’s results release did not identify a financing, acquisition, compensation program, or other specific use for that capacity.

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Mar 26, 2026 · Gino Matos

NYSE suspended SOLAI’s ADSs on July 16 after their average global market capitalization over 30 consecutive trading days fell below the exchange’s $15 million minimum. An exchange Form 25 attachment later said the Solana treasury firm did not appeal within the 10-business-day window and that removal was scheduled to take effect Aug. 17.

Deutsche Bank’s depositary record listed the sponsored ADR as active on the OTC Pink market under SLAIY at the reporting cutoff.

The former Bitcoin mining firm reported 1.92 billion Class A shares issued and outstanding as of March 31, then disclosed another 1.16 billion shares issued on June 2 as acquisition consideration.

That produces a pre-consolidation total of about 3.09 billion shares before any later changes, and a simple 700-for-1 conversion of that total yields about 4.41 million shares.

SOLAI’s holder-level rounding rule and any issuance, cancellation, or adjustment after June 2 mean the calculation is not a current cap table. On that limited basis, the apparent authorized but unissued capacity would be about 99.996 billion shares.

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The ordinary-share consolidation also follows a separate July action that changed SOLAI’s ADS ratio from 100 to 700 ordinary shares per ADS through a one-for-seven ADS reverse split, without issuing or canceling underlying shares.

The Aug. 17 company release and Deutsche Bank record, read alongside the July depositary filing that preceded the shareholder vote, did not explain how that ratio would operate after the later consolidation of the ordinary shares themselves.

An updated issued-share count, a stated use for the authorization, and any new depositary instruction are now the key disclosures for OTC holders.

The post Solana treasury firm cuts shares 700-for-1 but leaves room for nearly 100 billion more appeared first on CryptoSlate.

Under its current plan, the proposed Vulcan financing totals $39.4 million and would redeem $33.1 million in senior notes due Oct. 31. Its Aug. 14 quarterly filing said the company would use the financing for that redemption. However, as of Aug. 16, Vulcan had not reported the financing closed.

The company, formerly Greenidge Generation, said the private investment in public equity, or PIPE, had not closed. It said no proceeds had been received and no securities had been issued. At June 30, Vulcan held $3.197 million of cash and cash equivalents. In addition, it held $6.027 million of digital assets, or $9.2 million combined, compared with $33.138 million of note principal.

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A 21-day financing window

Under the July financing agreements, Vulcan would sell 17,146,190 shares at $1.71 each, raising about $29.3 million. It would also issue a $10 million convertible note to Machine Investment Group. Machine Investment Group and affiliates of Atlas Holdings are leading the transaction.

Closing remains subject to several conditions. They include approval to list the relevant shares on Nasdaq and delivery of transaction and collateral documents. They also require stockholder consent and at least $30 million of gross proceeds. The agreements may be terminated, subject to exceptions, if closing has not occurred by Oct. 10. That outside date falls 21 days before the notes mature.

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The note terms call for the principal and final scheduled interest payment on Oct. 31. An optional redemption requires 10 to 60 calendar days' notice. Vulcan's Aug. 14 results release said it intended to redeem the notes, but explicitly said the release was not a redemption notice.

Vulcan estimates $37.7 million of net PIPE proceeds. It plans to apply $33.1 million to the notes, plus approximately $1.4 million of contractual interest expected in connection with the redemption. Its presentation shows total debt falling from $36.9 million to $13.7 million. It shows net debt falling from $27.7 million to $1.3 million. Those figures are illustrative and assume the financing closes and proceeds are used as planned. They also include the new $10 million Machine Investment Group note.

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Debt reduction remains conditional

A separate exchange completed during the second quarter reduced about $3.6 million of the old notes. In return, Vulcan issued roughly $1.4 million of notes due in 2030 and 1,277,111 shares. That transaction is complete, while the larger October reduction remains conditional.

Vulcan said projected operating cash flow would not be enough to meet its existing debt obligations. If the PIPE does not provide the required funds, the company said it would need another financing or a maturity extension. It also listed restructuring, asset disposals, or another alternative. Failure to secure one could result in a default. According to the quarterly filing, a default may require restructuring, potentially including bankruptcy protection.

The key developments to watch are whether the PIPE closes and whether Vulcan delivers a formal redemption notice. Until then, the planned debt reduction remains contingent rather than completed.

The post Crypto miner warns of potential bankruptcy as unclosed financing leaves $33 million in maturing debt exposed appeared first on CryptoSlate.

Germany's Federal Financial Supervisory Authority issued another warning on August 7, 2026 about a group of websites that resemble one another right down to the wording. It was the twenty-fourth warning of its kind this year. Notices like these usually pass unnoticed in the news flow: three or five addresses, a sober two-liner from the regulator, no losses quantified.

Taken together they paint a different picture. We therefore counted BaFin's entire stock of warnings. This analysis was compiled by cryptoticker.io on August 11, 2026. Method: using BaFin's expert search, all 34 results pages of the notice format were retrieved, the consumer notices on unauthorised business were extracted, deduplicated and counted by year, series membership and domains named. That produced 2,194 warnings from the years 2022 to 2026, plus the full text of the 24 series notices published this year.

The finding is of immediate practical use to crypto investors: the number of warnings is no longer growing, but their design is changing. Fraudulent offerings increasingly appear as a series rather than as a single website.

What BaFin calls a platform series and how to spot one

The regulator has coined its own term for the phenomenon. Its consumer notices refer to a „platform series“ or a „series of near-identical websites“: sites so similar in structure, design and advertising copy that BaFin covers them in a single notice.

The core of these notices is always the same sentence, in variants: according to BaFin's findings, the operators are offering banking business, financial services or crypto-asset services there without authorisation. The regulator has granted them no licence.

For you as a user, the series format is more dangerous than the individual case. Anyone who googles an address and finds nothing negative often reads that as reassurance. With a series, that is precisely what you would expect: the domain is new, without history, without reviews, without complaints. The template behind it is old, the specific address is not.

An analysis of 2,194 BaFin warnings: 397 notices in 2026 alone

By our count, the stock of warnings breaks down by year as follows:

The low figures for 2022 and 2023 say nothing about conditions at the time; it is more likely that older notices were removed from the stock. Only the two most recent years are therefore reliably comparable.

And there, something emerges that contradicts the widespread impression of a fraud wave growing ever faster. 397 notices in 223 days works out at an annual rate of roughly 650, against 709 in 2025. The number of warnings is stagnating rather than exploding. Within the year it fluctuates markedly: April was strikingly quiet at 33 notices, while July was the strongest month at 69.

24 series notices with 639 domains: the figures from our own count

The design is where it gets interesting. We counted every notice whose title identifies it as a platform series or a series of near-identical websites.

While the total number of warnings is edging down, the share of series notices has more than quintupled within two years. Extrapolated, 2026 is heading for around 39 series warnings.

The 24 series notices published this year list 639 domains individually between them. None of them appears in two different notices. The remaining 373 warnings of the year, by contrast, overwhelmingly concern a single provider each.

In at least eight of the 24 series, BaFin explicitly names crypto-asset services in the decisive sentence. In six further cases the sentence could not be assigned automatically because the regulator words it differently. The number of crypto series is therefore higher than eight; exactly how much higher, we were unable to establish.

204 of the 639 domains end in .de: why the suffix says nothing about a licence

By our count, the domain endings of the 639 addresses break down as follows: 239 end in .com, 204 in .de, 109 in .net and 69 in .org. The rest are spread across smaller endings such as .pro, .app or .io.

Almost every third address warned about therefore carries the German country suffix. That is the single most important practical finding of this analysis, because many investors read the suffix as an indication of supervision and legal recourse. A .de domain can be had from any registrar; it presupposes neither a German business address nor a BaFin licence. The same applies to a legal notice, a phone number and a euro account.

Licensing requirements for crypto-asset services: what MiCA and the German Crypto Markets Supervision Act demand

Since the European MiCA regulation took full effect and Germany embedded it through the Crypto Markets Supervision Act, the legal position is unambiguous. Anyone offering crypto-asset services commercially in Germany, meaning trading, exchange, custody or intermediation, needs a BaFin licence and then appears in public registers.

That has simplified the check for you. It used to be contested whether an offering fell under German supervision at all. Today the rule is this: a provider targeting German customers that appears in no official register is very probably operating without authorisation. Which providers have actually been through the licensing process is set out in our overview of regulated crypto exchanges.

The licence is not a verdict on fees or usability. The entry says that a company exists, has been vetted and answers to a supervisor you can turn to. What the licensing requirement means for individual products is something we described in detail using the example of staking under MiCA.

The BaFin company database: how to check a licence in minutes

BaFin maintains a public company database listing every supervised institution with its name, registered office and type of licence. The comparison takes less than five minutes and is the only step that reliably separates a legitimate platform from a series copy.

What matters in the comparison

Search for the company name from the legal notice, not for the website's brand name; with unauthorised offerings the two frequently diverge. No result is itself a result. Where there is a hit, compare the registered office and legal form against the legal notice. If anything differs, the register entry prevails.

Pay attention as well to what the database records as the licence. A licence for payment services does not cover crypto trading. That very blurriness is what many questionable offerings work with, invoking a licence that does exist but was granted for something else entirely. The database is available directly from the BaFin company database.

The ESMA register of CASPs: the second check for providers based elsewhere in the EU

Many providers with German customers are licensed in another member state and operate from there under a European passport. These firms do not necessarily appear in the BaFin database, but they do appear in the register of the European Securities and Markets Authority, which lists the licensed crypto service providers of all member states.

In practice that means a miss in the BaFin database is not yet proof. Only when a provider is absent from both registers is the matter settled. Conversely, an entry in the ESMA register confirms the licence alone and says nothing about how your holdings are kept.

The series of March 11, 2026: 248 domains in a single warning

How industrially these offerings are produced is clear from one notice. On March 11, 2026, BaFin warned about a series of near-identical websites and, by our count, listed 248 domains in it. In the decisive sentence the regulator names financial and crypto-asset services said to be offered there without authorisation.

Three further notices this year run to 92, 59 and 48 domains. At the other end are series with only two or three addresses; the median is five. An uncomfortable conclusion follows: putting another copy online costs the operators almost nothing, while every single warning requires investigation, documentation and publication on the regulator's side.

Why a BaFin warning is never complete, and what follows for your own check

BaFin itself points out that its warnings can never be complete, because there are many dubious providers and their methods change constantly. That qualification matters more than it sounds.

It means the absence of a warning proves nothing. Anyone who looks for an address on the warning list and fails to find it has established only that the regulator has not so far commented on that address. With a series platform registered three weeks ago, that is exactly what you would expect.

The check therefore has to run the other way round. The question that holds up is whether a provider appears in a licensing register. The warning list collects individual cases, the register is exhaustive; only the second source allows a firm no. A practical guide to recognising forged payment demands issued in an exchange's name can be found in our article on phishing after the MiCA deadline.

Features that recur in the notices analysed

• An advertising promise in the header that reappears in slightly modified form on other domains.
• A legal notice without a commercial register number, or with a number that cannot be found in the register.
• A sign-up process that demands a deposit before the platform even becomes fully visible.
• An account that displays profits but ties withdrawals to additional payments.

If money has already changed hands: police report, bank and the top-up demand

If you have already paid in, one thing counts above all: make no further payment. Being asked to transfer taxes, fees or a deposit first in order to release a supposed withdrawal is part of the standard repertoire. BaFin explicitly advises consumers to exercise great caution with online investments and to research thoroughly before the first transfer.

Three parallel steps make sense: a report to the police, an immediate notification to your own bank or payment service provider, and a tip-off to BaFin, which feeds such reports into its investigations. With card payments and direct debits there are recovery options that deteriorate by the day. With an international transfer or a payment in cryptocurrency the prospects are slim, but the documentation remains important for investigations and tax questions.

This analysis rests on the regulator's publications, not on loss figures. How much money flowed through the 639 domains, how many people are affected and how many of the addresses are still reachable today does not emerge from the notices and we were unable to verify it. Nor can it be established whether the same operators are behind several of the series.

What to take away

1. Check the register, not the warning list. Search for the company name from the legal notice in the BaFin company database and, if the provider is based elsewhere in the EU, in the ESMA register. A provider missing from both is out of the question. Which exchanges pass this check is shown in our overview of regulated crypto exchanges.
2. Do not let the suffix or the language reassure you. 204 of the 639 domains warned about this year end in .de. Compare the fees, custody arrangements and registered offices of licensed providers instead, for example in our crypto exchange comparison.
3. Separate trading from custody. Keep only what you need in the short term on the trading platform and store the rest yourself. Which devices are suitable and what they cost is set out in our hardware wallet comparison.

You can inspect the basis of this analysis yourself at any time: at the BaFin warning notices.

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

Kraken is running a staggered delisting process that ends with the exchange selling on your behalf: any balance not withdrawn by the relevant cut-off date is liquidated automatically. A count of the official notices in Kraken's support pages shows 56 cryptocurrencies affected across three cycles running in parallel.

The next hard deadline falls on August 27, 2026 at 14:00 UTC. From that point, 21 of these tokens can no longer be withdrawn from Kraken. Whatever remains in the account is sold by the exchange itself between September 1 and September 5, and the same notice warns that this may produce little or no proceeds at all.

This analysis was compiled by cryptoticker.io on August 11, 2026. Method: all four dated cycle notices published in 2026 were retrieved individually from the delisting overview in Kraken's support section, and their token lists and deadlines were counted, 63 token entries in total. What could not be verified is how many customer balances are affected and whether individual countries have different dates, since Kraken maintains separate support sections for each market.

How a Kraken delisting works: trading halt, withdrawal deadline, forced liquidation

Kraken announces delistings in cycles, each named after the month of the notice. The sequence has been identical throughout 2026 and consists of three stages spread far apart in time.

In the first stage, the exchange switches off trading and deposits for the affected assets. The token remains visible in the account but can neither be bought nor sold. In the second stage, usually around three months later, withdrawals are closed. That is the deadline that matters, because from that moment the balance can no longer leave the platform. The third stage is a window of a few days in which Kraken sells the remaining balances at its own discretion and credits the proceeds.

Kraken gives the same reason every time: these are assets that no longer meet the firm's internal performance or compliance standards. There is no individual justification for each token, nor any procedure through which a delisting could be challenged.

First deadline on August 27, 2026: 21 tokens from the May cycle

The cycle with the nearest deadline was published on May 14, 2026. Trading and deposits were switched off on May 29 at 14:00 UTC, withdrawals close on August 27 at 14:00 UTC, and Kraken liquidates the remaining balances from September 1 to September 5. These 21 assets are affected:

• AURA, BIT, BOND, BSX, FARM
• GARI, K, KET, KINTO, LOBO
• MOON, MV, NYM, RAIIN, RHEA
• SAROS, SDN, SPC, SPICE, TEA, TEER

Kraken points out that some of these assets were already untradeable in any case. The trading schedule does not apply to them, while all other dates remain unchanged. So even if one of these tokens has been sitting in your account as a dead balance for months, you still need to act before August 27.

Second deadline on September 25, 2026: 14 tokens from the June cycle

The next cycle followed on June 18 with fourteen assets: TITCOIN, MXC, TOKE, ASRR, ART, UNITE, TANSSI, MIRROR, SOGNI, ALMANAK, VERSE, XRT, RETARDIO and RAVE. Trading and deposits ended here on June 29 at 14:00 UTC.

For the withdrawal deadline, the notice gives September 25, 2026 at 14:00 UTC, with the liquidation window falling between September 28 and October 2. Anyone holding these tokens still has a good six weeks, but should not push the date to the final hour: withdrawals on small networks tend to take longer than on Bitcoin.

Third deadline on November 6, 2026: 21 tokens from the July cycle, trading halted since August 10

The most recent cycle dates from July 28 and has just entered its first stage: since August 10, 2026 at 14:00 UTC, trading and deposits have been switched off for SIDEKICK, AI3, LOCKIN, SLAY, MNGO, GHIBLI, HOUSE, ACX, OMNI, KP3R, KIN, NTRN, KOBAN, HIPPO, CLV, WEN, KEY, YALA, TREMP, ESX and U2U.

Anyone holding one of these assets has been unable to sell it on Kraken since yesterday. Withdrawals stay open until November 6, 2026 at 14:00 UTC, followed by liquidation from November 9 to 13. The long lead time disguises the fact that the decisive option has already gone.

The April cycle shows that forced liquidation is not a threat scenario

How seriously Kraken takes the final step is clear from the cycle of April 15, 2026, covering seven assets: PLANCK, AIR, MICHI, FLY, ANLOG, TERM and STRD. Trading and deposits ended on May 1, withdrawals on July 31 at 14:00 UTC, and the liquidation window ran from August 3 to August 7, 2026.

That cycle has therefore been completed in full only days ago. Anyone who was late there has had the process carried out for them. The three open cycles follow the same pattern with later dates.

Why liquidation proceeds can be minimal or zero: thin order books

The most important sentence appears in almost identical wording in all four notices and is still frequently overlooked. Kraken writes, in substance, that several of the affected assets have limited or inactive markets, which means liquidation prices could fall well below the reference prices last seen, and that in some cases only minimal proceeds or none at all may result.

This is not boilerplate. A token that has been excluded from trading for months no longer has an active order book on the exchange handling the wind-down. If the pooled residual holdings of all customers then reach the market within a five-day window, supply meets demand that has largely ceased to exist there. The price shown on a market data website comes from other venues and says little about what the settlement will actually yield.

That produces an order of preference. While trading is still open, selling through the order book is the controlled option. Once it is halted, what remains is a withdrawal to your own address or to an exchange that still lists the asset; we have compared the devices suited to self-custody in our hardware wallet comparison. Liquidation comes only after that, and there the timing is no longer the investor's to choose.

TEER as a special case: project wound down, on-chain transactions do not go through

Kraken singles out one asset in its May notice. On TEER it states that the project has ceased operations and that on-chain transactions are not going through; trading as well as deposits and withdrawals are paused and will remain so.

For those affected this is the most awkward situation in the entire process, because the escape route via withdrawal is blocked as well. Anyone holding TEER should nonetheless document the position, exporting the account statement and transaction history before August 27, while the data can still be retrieved in full.

What the Kraken delisting has to do with MiCA, and what it does not

Since the MiCA transition periods expired in mid-2026, it is tempting to assume European regulation lies behind every delisting. At Kraken, the notices do not support that reading: the reason given is the exchange's internal performance and compliance standards, not a supervisory requirement, and the cycles have continued at the same rhythm for months.

The distinction matters in practice. When Revolut dropped the stablecoin USDT, the trigger was a European legal framework that applies equally to every licensed provider; we described the case in our article on the USDT delisting at Revolut. An in-house quality cycle hits different assets at every exchange, which is why a token dropped by Kraken may well keep trading elsewhere. For holders, that is the opening to rescue the position rather than write it off.

Tax consequences of a forced liquidation: a disposal without your own decision

For tax purposes, a forced liquidation is a sale like any other, and the fact that the exchange sets the timing changes nothing. For crypto assets held as private assets, the framework of Section 23 of the German Income Tax Act applies: after a holding period of more than one year the gain is tax-free, below that it counts as a private disposal transaction and remains untaxed only if total gains from such transactions stay below the 1,000 euro threshold in the calendar year.

With the assets involved here, the opposite case is likely to be more common, namely a loss. Losses from private disposal transactions can only be offset against gains of the same kind, though they can be carried back and carried forward without a time limit. That presupposes the transaction appears in the tax return at all. This is precisely where the risk lies: a liquidation carried out without the investor's involvement easily ends up in no record, because nobody remembers it as something they did.

What you should keep for this

It makes sense to export the transaction history before the cut-off date, along with the liquidation statement as soon as it appears in the account. Together the two document the acquisition date, the acquisition cost and the proceeds. Anyone using several exchanges is better served by a portfolio and tax tool than by spreadsheets.

Contradiction in Kraken's own June notice: September 25 or 28?

The analysis turned up an inconsistency that can mean a few days' difference for those affected. In the June notice, the schedule gives September 25, 2026 at 14:00 UTC as the end of withdrawals. The explanatory text below it, by contrast, states that withdrawals will no longer be available after September 28. Both statements appear on the same page.

Which figure Kraken would apply in case of doubt is not clear from the notice, and no clarification is available to us. The safe reading is the earlier date, September 25 at 14:00 UTC.

How to check your Kraken account for affected tokens

The check takes a few minutes and is worth doing even if you believe you hold none of these assets. Small residual balances from airdrops tend to turn up where you least expect them.

1. Open your balance overview and set it to display even very small positions; many interfaces hide minimal holdings by default.
2. Compare the ticker symbols against the three lists above. Watch out for ambiguous symbols such as K, ART or KEY, which are easily confused with other assets.
3. If you find a match from the May cycle, first check whether trading is still available to you. If it is, selling through the order book is the controlled route.
4. If trading is blocked, set up a withdrawal to a wallet whose keys you hold yourself, or to an exchange that still lists the asset. Check the network beforehand and, for larger amounts, test with a small amount first.
5. Finally, export the transaction history and file it with your tax records.

Where a provider closes the account entirely rather than dropping individual assets, somewhat different rules apply; we covered that separately when looking at what to do when a crypto exchange shuts down. What stands out is less the individual case than the pace: four cycles in four months, 63 assets in total, each time with the same general justification. A simple habit helps here: review the status pages of the providers you use once a quarter. Delistings are usually announced there weeks before the first stage, while trading is still open.

Checking your Kraken delisting exposure: what to take away

1. Check your Kraken account before August 27, 2026, 14:00 UTC. If you hold an asset from the May cycle, sell it while that is still possible, or withdraw it. If you switch exchanges in the process, compare the providers holding European authorisation in our overview of regulated crypto exchanges.
2. Put the two later cut-off dates in your calendar now. September 25 applies to the June cycle, November 6 to the July cycle. Where affected assets can still be traded is shown in our crypto exchange comparison.
3. Document every step for your tax return. A forced liquidation is a disposal too, and a loss is only useful to you if it is recorded. Suitable tools are listed in our overview of crypto tax tools and portfolio trackers.

The original notices are on Kraken's own pages, both for the May cycle with the August 27 deadline and for the July cycle with the November 6 deadline.

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

Bitcoin has clawed its way back above $64,000 on Tuesday morning after slipping under $63,000 at the start of the week, but the rest of the market is not following it. XRP and BNB are both lower on the day, Bitcoin dominance has climbed to 58.8%, and the flows underneath tell a more cautious story: spot Bitcoin ETFs pulled in outflows last week, Korea's biggest exchange just reported a revenue collapse, and Washington's crypto market structure bill looks further away than it did in May. Here is what matters this morning.

What are crypto prices doing today?

The market is mixed rather than uniformly higher this morning: Bitcoin is holding a 1.2% daily gain near $64,139 while XRP and BNB are in the red, and Bitcoin dominance has pushed up to 58.8%.

🟠 Bitcoin (BTC) | $64,138.97 | +1.24% (24h) | $1.28 trillion cap 
🔵 Ethereum (ETH) | $1,897.15 | +0.18% (24h) | $228.95 billion cap 
🟡 BNB (BNB) | $601.99 | -0.30% (24h) | $80.16 billion cap 
⚪ XRP (XRP) | $0.9931 | -0.72% (24h) | $62.24 billion cap 
🟣 Solana (SOL) | $75.84 | +0.48% (24h) | $44.20 billion cap 
🔴 TRON (TRX) | $0.3328 | +0.10% (24h) | $31.59 billion cap 
🧭 BTC dominance | 58.8% 
😨 Fear and Greed Index | 40 out of 100

Rising dominance at 58.8% while altcoins lag is the tell. Capital that is still in the market is concentrating in Bitcoin rather than rotating down the risk curve, which is normal behaviour late in a drawdown and the opposite of what an altcoin season looks like.

The year to date column is the more sobering read. $Bitcoin is down 26.71% in 2026, $Ethereum is down 36.06%, Solana is down 39.07% and XRP is down 46.02%. Solana's twelve month high of $253.21 was reached back on 18 September 2025, which puts the current bounce in perspective. This is a market grinding sideways at heavily discounted levels, not one breaking out.

Sentiment gauges back that up. The Fear and Greed Index reads 40 out of 100, sitting on the border between fear and neutral, while the Altcoin Season Index has recovered to around 46 out of 100. Cautious, not capitulating.

Why is Bitcoin struggling to break $65,000?

Bitcoin is capped by a well defined supply zone between $65,000 and $65,600, and it has failed to close decisively above that region on every attempt this month.

Buyers pushed BTC back above $64,000 on 18 August after the recovery followed a dip under $63,000, but the move remains fragile with resistance stacked at $65,000 to $65,600. On the downside, $63,000 has become the important short term area, and a sustained loss of that level would bring lower supports back into focus.

Traders are also watching leverage. Roughly 66.9% of Binance accounts are positioned long with modest funding rates, which creates long squeeze risk if the $62,300 support gives way. That is the kind of positioning that turns a routine dip into a fast one.

How bad are the Bitcoin ETF outflows?

Spot Bitcoin ETFs recorded more than $385 million in net outflows last week, reversing a much stronger start to August and removing one of the market's most reliable sources of spot demand.

The withdrawals followed a stronger period of ETF demand earlier in the month, and continued outflows could limit Bitcoin's ability to sustain a major upside move. The daily numbers show how choppy the picture has become: US spot Bitcoin ETFs saw roughly $57.63 million leave on 15 August for a third consecutive day of withdrawals, against $521.5 million of inflows earlier in August.

There is a counterweight worth noting. SEC 13F filings show Jane Street accumulated $630 million in Bitcoin ETFs during Q2 2026, taking its total to around $1.06 billion, although the firm's authorised participant role means those holdings reflect ETF creation mechanics rather than a directional bet. One quarter earlier, Jane Street had cut its total Bitcoin ETF holdings by 71%. Read institutional 13F headlines carefully.

What is the biggest Ethereum story today?

Bitmine now holds 5.82 million ETH, equal to about 4.8% of Ethereum's circulating supply, putting Tom Lee's treasury company within touching distance of its 5% accumulation target.

As of 16 August, Bitmine reported crypto, cash and strategic stakes totalling $11.4 billion, including 5,815,164 ETH valued at a reference price of $1,893 per token, against an ETH supply of 120.7 million. The company bought a further 9,926 ETH last week, extending a weekly buying streak that started in June 2025.

The staking side is where the model gets interesting. More than 5 million ETH is staked, and on a seven day yield of 2.61% Bitmine projects annualised staking rewards of roughly $287 million. Bitmine also repurchased 1.7 million shares last week, taking cumulative buybacks to 20.8 million shares since July under a $4 billion programme.

Lee is leaning on a ratio call to justify the accumulation. He pointed to the ETH/BTC ratio at 0.02994 and rising, arguing it has broken above the long term downtrend and signals that markets are starting to price in tokenisation and agentic AI applications.

Institutional yield is arriving on the ETF side too. Fidelity has filed to add staking and quarterly cash payouts to its $898 million Fidelity Ethereum Fund, which could stake as much as 100% of its ether, with the fund keeping 85% of gross staking rewards and the remaining 15% going to the sponsor, custodians and node operators. The proposal is not yet effective and Fidelity cannot begin staking until the SEC declares the amended registration statement effective.

Is the CLARITY Act still on track?

No. Galaxy Research now puts the odds of the CLARITY Act becoming law in 2026 at roughly 10%, down from 75% in May, with the decisive Senate cloture vote pushed to 15 September.

Galaxy's head of research Alex Thorn cut his probability estimate to about 10% on 14 August, a steep drop from May, and prediction markets are pricing the odds near 17%. The bill's fate now depends on a cloture vote scheduled for 15 September once the Senate returns from recess, and market watchers are already braced for another delay.

This matters more for positioning than for price today. Shifts in expectations around crypto legislation tend to ripple through institutional allocation well before any formal vote, because large allocators wait for regulatory certainty before committing fresh capital.

What does Korea's exchange slump tell us about demand?

Upbit operator Dunamu posted a 49% revenue drop and a 80% collapse in operating profit for the first half of 2026, signalling a structural decline in Korean retail crypto activity rather than a one off soft quarter.

Dunamu reported revenue of 408.1 billion Korean won, around $275 million, down 49.1% year on year, while operating profit fell 79.7% to 111.5 billion won or roughly $75 million. Dunamu attributed the decline to reduced global digital asset liquidity, with the KOSPI more than doubling in the first half of 2026 pulling retail capital out of crypto and into equities.

Bithumb reported a parallel revenue decline of roughly 50% over the same period, which makes this a market wide contraction rather than an Upbit specific problem. Korean retail has historically been a meaningful marginal buyer of Bitcoin, so this is a genuine demand headwind.

Exchange consolidation continues elsewhere as well. BitMEX stops allowing new positions from 26 August and ceases operations entirely at 04:00 UTC on 23 September 2026, with users warned that balances left after closure attract a $50 monthly fee or a 1% annual charge. If you still have funds there, move them this month.

What should traders watch for the rest of the week?

The three levels that matter are $65,000 to $65,600 on the upside, $63,000 as immediate support and $62,300 as the liquidation trigger below it.

A daily close above $65,600 would be the first real technical evidence that the August downtrend has broken. Failing that, the more likely scenario is continued range trading while ETF flows decide the direction. $66,000 is the realistic upside target if a breakout is confirmed.

Corporate treasury behaviour is the wildcard. Both MARA and Strategy have been net sellers this year, and any fresh disclosure of treasury liquidation tends to land badly on a market this thin.

A share that does nothing but hold Bitcoin ought to be worth roughly what the Bitcoin behind it is worth. In practice that is almost never the case. At Twenty One Capital, the second-largest listed Bitcoin holder after Strategy, the gap is unusually wide at the moment: the company holds 43,514 Bitcoin and is valued on the stock market at roughly a third less. Its own chief executive conceded as much in writing on August 11, 2026.

If you are weighing whether to buy Bitcoin directly or through a share of this kind, that gap is the single most important number for your decision. It has a name, it can be calculated, and it comes out completely differently depending on the method used. This article uses a freshly filed quarterly report to show how the calculation works.

What a Bitcoin treasury stock is and how it differs from a Bitcoin ETF

Bitcoin treasury companies are listed firms whose principal asset is Bitcoin held on their own balance sheet. Strategy popularised the model; Twenty One Capital entered the field with backing from the stablecoin issuer Tether.

The difference from a Bitcoin ETF lies in the legal construction. A spot ETF is designed so that the price of a unit and the value of the holding stay close together. A listed company, by contrast, has a board, debt and operating costs, and its share price emerges from supply and demand for the share itself. The Twenty One Capital quarterly report puts this with unusual clarity: owning a share does not represent an ownership interest in the Bitcoin held by the company.

Everything else follows from that construction. Where the share price sits above the value of the holding, investors speak of a premium; where it sits below, it is a discount.

mNAV explained: how to measure the premium and discount on a Bitcoin stock

The metric is called mNAV, short for market net asset value, and it sets a company’s market capitalisation against the market value of its crypto holding:

mNAV = the company’s market capitalisation divided by the market value of its Bitcoin.

A result of 1.0 means parity. Values above that are a premium, meaning the market pays more than the value of the holding, perhaps because it expects the firm to raise capital cheaply and buy Bitcoin with it. Values below are a discount: at an mNAV of 0.6 you pay 60 cents for a dollar of Bitcoin on the balance sheet.

That sounds like a bargain, and it is the reason such shares are traded in forums as a cheap route into Bitcoin. Before following that logic, it is worth looking at how the figure comes about.

Twenty One Capital reports a 413.5 million dollar quarterly loss on 43,514 Bitcoin

On August 11, 2026, Twenty One Capital filed its second-quarter report with the US Securities and Exchange Commission.

• Bitcoin holding as of June 30, 2026: 43,514 units, down from 43,515 at the turn of the year. Exactly one unit was disposed of over the half-year and nothing was bought.
• Carrying value: 2.55 billion dollars, which corresponds to roughly 58,600 dollars per Bitcoin.
• Acquisition cost: 3.69 billion dollars, or roughly 84,900 per Bitcoin. The holding therefore sits about 1.14 billion below its purchase price.
• Quarterly result: a loss of 413,539,273 dollars, adding up to 1.27 billion over the half-year, or 0.74 dollars per share.
• Convertible bonds: 484.5 million dollars against total liabilities of 486.1 million. No preference shares have been issued.

All figures appear in the quarterly report filed with the SEC and therefore come from the primary source.

Fair value accounting under ASU 2023-08 turns price declines into a quarterly loss

A loss of 413.5 million dollars sounds like an operating disaster, yet it is almost entirely an accounting entry. Of that figure, 401.5 million falls to the line "change in fair value of digital assets". The operating business contributed roughly 10.7 million of losses, with a further 1.3 million in interest expense.

Behind this sits the US accounting standard ASU 2023-08. Since its introduction, crypto holdings have been measured at market value on every reporting date, and the difference from the previous quarter runs straight through the profit and loss account. If the Bitcoin price falls during the quarter, a reported loss arises even though not a single unit was sold.

Bitcoin per share: the metric Twenty One Capital declares its own yardstick

The company measures itself against a figure called Bitcoin per share, abbreviated to BPS. The value states how many satoshi, meaning hundred-millionths of a Bitcoin, fall to one tradable share. The report shows exactly 12,547 satoshi as of June 30, 2026, down from 12,557 at the end of 2025. Management’s declared aim is to grow the holding faster than the share count; over the first half of 2026 it did not manage that.

The warning the company itself attaches to the metric matters: BPS is neither a measure of the ability to service liabilities nor the book value per share. Anyone who simply wants to build a Bitcoin position without concerning themselves with share counts will find the direct route in our comparison of providers for buying Bitcoin.

Why the same discount comes to 43, 31 or zero percent depending on the share count

The mNAV calculation has one lever that is rarely discussed: which share count do you use? Of the listed A shares, 346,807,836 were outstanding as of June 30, alongside 215,736,011 B shares which, according to the report, carry no economic rights and are not publicly tradable.

On August 11, 2026, a Bitcoin cost around 63,369 dollars at about 18:45 UTC, while the share stood at 4.53 dollars at about 18:34 UTC.

• A shares only: 43,514 Bitcoin are worth roughly 2.76 billion dollars; spread across 346.8 million shares that gives 7.95 dollars per share. At a price of 4.53 dollars the mNAV comes to 0.57, so the discount is around 43 percent.
• After deducting debt: subtract the 484.5 million dollars of convertible bonds and 6.55 dollars per share remain. The mNAV rises to 0.69 and the discount shrinks to about 31 percent.
• With both share classes: spread across all 562.5 million A and B shares, the Bitcoin per share falls to 4.90 dollars and the mNAV climbs to roughly 0.92.
• Fully diluted: the data service bitcointreasuries.net additionally counts possible conversions and arrives at 1.07. On that reading nothing of the discount remains and a slight premium stands on the books.

Four methods, the same company, the same minute, and the range runs from a 43 percent discount to a seven percent premium. An mNAV without the method behind it is practically worthless for a purchase decision.

Convertible bonds and ranking: the Bitcoin holding does not belong to shareholders first

The jump from 0.57 to 0.69 in the example above reflects the order of claims in a worst case. The 484.5 million dollars of convertible bonds are debt, and their holders are served ahead of shareholders. The report explicitly names senior claims from instruments outside the ordinary shares.

Then there is the conversion mechanism. If the share price rises sharply, bonds can be exchanged for new shares, and the holding per share falls precisely when the share is performing well.

The chief executive’s letter to shareholders calls the discount a misallocation

The company published a letter from its new chief executive, Raphael Zagury, at the same time. In it he addresses the discount directly: the share was trading at a marked discount to the Bitcoin held at the time of writing, that gap could be read as a misallocation of capital, and the company shared that view.

The letter also names five priorities for the coming year: corporate governance and controls, the acquisition of operating stakes modelled on Berkshire Hathaway, capital markets instruments, an acquisition capability and a lending business built around Bitcoin. The full wording appears in the published shareholder letter.

One sentence towards the end stands out. Twenty One is no substitute for Bitcoin, Zagury writes, and anyone seeking pure Bitcoin exposure should understand that Bitcoin itself is the cleanest expression of that stance.

Strategy as a comparison: the same mechanics, larger numbers

Twenty One Capital therefore stands for a pattern. On August 1, 2026, we reported on the quarterly figures from Strategy, the largest listed Bitcoin holder. According to our report at the time, a loss of 8.22 billion dollars was booked there, with individual houses citing figures of up to 8.6 billion. The cause was the same fair value rule. Our assessment appears in the article Bitcoin treasury model under pressure.

We opened the premium question at Strategy back in late June 2026, then with the opposite sign; how the premium unwound there is shown in the analysis Has Saylor’s Strategy lost its BTC premium?.

A treasury creates value for existing shareholders above all when it can issue new shares above the value of the holding and buy more Bitcoin with the proceeds. If the price falls below that level, the lever turns around and the route to growth through the capital markets is blocked.

For tax purposes, a Bitcoin stock and Bitcoin itself are two different things

Directly held Bitcoin counts as another economic asset. Under section 23 of the German Income Tax Act as it currently stands, a sale remains tax free where more than a year lies between acquisition and disposal; within that period an exemption threshold of 1,000 euros per calendar year applies. Germany’s federal finance minister, Lars Klingbeil, proposed abolishing this holding period in July 2026. A proposal is not a law, though; until a legislative procedure is complete, the existing rule continues to apply.

A share, by contrast, falls under the flat-rate withholding tax, meaning 25 percent plus the solidarity surcharge and, where applicable, church tax, regardless of the holding period. Individual cases remain a matter for a tax adviser, and this article is no substitute for advice.

Five questions to put to a Bitcoin treasury before you buy

1. Which method sits behind the mNAV? Basic, diluted and adjusted for debt are three different numbers, as the range above shows.
2. How large is the debt? Convertible bonds and preference shares stand ahead of you in the queue; at Twenty One that came to 484.5 million dollars.
3. Is the holding per share moving upwards? A rising Bitcoin price flatters any balance sheet. Value creation shows only in the BPS figure, which slipped slightly here.
4. Where does the money for new purchases come from? Below the value of the holding, issuing new shares harms existing shareholders.
5. What happens besides holding? Operating businesses, lending and acquisitions are meant to address the discount and remain an announcement so far.

Checking a Bitcoin treasury stock: what to take away

1. Work out the mNAV yourself before you buy a treasury stock. You need only three items from the quarterly report: the Bitcoin holding, the share count and the debt. Set them against the share price and compare the result with what a data site displays. Where it differs, the share count is the reason. If you lack a securities account, our broker comparison helps.
2. Separate the book loss from the operating business. At Twenty One, 401.5 of the 413.5 million dollars came from the remeasurement of the holding. Headlines of that kind say little about the firm and a great deal about the Bitcoin price. Anyone who would rather avoid the detour holds Bitcoin directly and stores it according to our hardware wallet comparison.
3. Factor in the tax before you decide. The share attracts flat-rate withholding tax regardless of the holding period, while directly held Bitcoin falls under the one-year period as the law stands today. Document both routes properly, for instance with a tool from our tax tool comparison.

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

Bitcoin tax reporting in Austria: what investors can request from crypto exchanges in 2026

Austrian crypto investors can fall back on a new instrument for the first time in 2026, one meant to make the tax return and the offsetting of losses considerably easier. For income accruing from the 2025 calendar year onwards, certain parties obliged to withhold capital gains tax must produce a standardised tax report on request. Alongside banks, that expressly includes providers of crypto-asset services.

For investors, the effect is straightforward. Anyone who holds or sells Bitcoin through an Austrian crypto service provider can have a structured overview of the previous calendar year’s tax-relevant transactions issued to them.

What the Austrian Bitcoin tax report contains

The tax report is intended to cover the data relevant to the individual investor on the transactions and on the capital assets managed by the provider over one calendar year. Its precise structure is prescribed by the Austrian tax reporting regulation.

For cryptocurrencies, it may contain information on tax-relevant income and losses in particular. The official template distinguishes, among other things, between crypto income that can be taken into account in the automatic offsetting of losses and income that was left out of it.

The report can therefore help investors trace:

• which crypto income was recorded for tax purposes,
• which losses were taken into account,
• which income did not feed into an automatic loss offset,

and which capital gains tax has already been accounted for or remitted.

One caveat matters, though. The tax report generally covers only income that is subject to capital gains tax withholding in the first place. Income without such withholding does not have to be shown under the tax reporting regulation.

Who can request the tax report in Austria?

The entitlement applies to persons with unlimited tax liability, vis-à-vis parties obliged to withhold capital gains tax. The Austrian finance ministry expressly names domestic banks and providers of crypto-asset services as the typical cases.

That does not mean, however, that every international crypto exchange has to issue Austrian investors an Austrian tax report under this regulation.

Anyone who holds Bitcoin exclusively with a foreign provider, where no Austrian withholding takes place, cannot automatically rely on this standardised Austrian report.

Most useful across several banks and crypto exchanges

The practical benefit of the tax report shows up above all in the offsetting of losses.

Suppose an investor earns dividend income at an Austrian bank while selling Bitcoin at a loss through an Austrian crypto service provider. The automatic loss offset between the bank and the crypto platform does not happen across providers.

The tax report supplies the information needed to bring such investment income together in the income tax assessment. The finance ministry points out expressly that the comprehensive report replaces the mandatory automatic loss offset certificate used previously.

That makes the document particularly interesting for investors who:

• use several crypto exchanges,
• hold equities and Bitcoin at the same time,
• make losses with one provider and gains with another,

want to carry out a voluntary loss offset through their tax return.

Not every transaction shows up in the tax report automatically

A tax report should not be confused with a complete blockchain or transaction history. The tax reporting regulation calls for the tax-relevant data held by the party obliged to withhold. Income that is not subject to capital gains tax withholding is expressly excluded.

A mere transfer of Bitcoin between two of an investor’s own wallets, for example, is generally not a taxable disposal. A tax-neutral crypto-to-crypto exchange is likewise treated differently from a sale for euros. Section 27b of the Austrian Income Tax Act states expressly that exchanging one cryptocurrency for another does not constitute a realisation.

The tax report therefore does not replace an investor’s own documentation of wallet transfers, acquisition costs or historical transactions.

What happens to Bitcoin from a foreign crypto exchange?

This is precisely where a gap can open up. If an investor moves Bitcoin from a foreign exchange to an Austrian provider, the new platform may not automatically hold all the historical tax data. The acquisition date and the acquisition costs are among the details that can be missing.

Separate rules govern how the tax data for cryptocurrencies is determined. The Austrian cryptocurrency regulation covers the valuation and allocation of holdings across wallets and cryptocurrency addresses, among other points.

The tax report can only build on the data that the withholding agent actually uses for tax treatment. With Bitcoin transferred in from outside in particular, investors should check whether the acquisition costs on file match their own transaction history.

Why investors should check the Austrian tax report

A standardised document does not automatically mean that all the historical data in it is correct.

Cases that warrant particularly close scrutiny involve:

• Bitcoin from external wallets,
• earlier crypto-to-crypto exchanges,
• several purchases at different prices,
• legacy holdings from the period before March 2021,
• transfers between different platforms,
• acquisition costs disclosed after the fact.

The cryptocurrency regulation contains special rules for holdings of the same cryptocurrency in the same wallet, for example. Details of this kind can affect how a gain is calculated later on.

When investors may need the Bitcoin tax report

The document can be especially useful when an income tax return is being filed or when losses are to be offset across providers.

Even though correct Austrian capital gains tax withholding can in principle have a final taxation effect, situations remain in which investors want or need to include their investment income in an assessment. The finance ministry expressly distinguishes between finally taxed investment income and income that has to be reported in an income tax return.

The report creates a uniform data basis for that purpose, yet it does not replace an examination of the individual tax position.

Conclusion on Bitcoin tax reporting in Austria

In 2026, Austrian Bitcoin investors can draw on the new standardised tax report for a full preceding calendar year for the first time. The obligation applies to income from 2025 onwards and concerns Austrian banks and crypto-asset service providers required to withhold capital gains tax in particular.

The report can be helpful above all with loss offsetting, where several providers are involved, and when checking capital gains tax that has already been withheld.

It does not replace a complete crypto tax history, though. Wallet transfers, foreign exchanges, historical acquisition costs and transactions that carry no withholding can fall outside the report. Investors should therefore keep the tax report and their own transaction history together and reconcile the two.

(As of August 14, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)

Austria's Financial Market Authority fined the Vienna-based exchange 70,000 euros for procedural and disclosure breaches, an early marker of how EU regulators intend to enforce the bloc's new crypto rulebook.

Payward is joining Project Glasswing, Anthropic’s program for giving vetted organizations access to its powerful cybersecurity AI.

Elon Musk’s AI firm says the state’s first-of-its-kind nudification ban violates the First Amendment. Minnesota says it regulates a tool, not speech.

Traders across Polymarket, Kalshi, and Myriad are leaning the same way: no change at the September meeting.

Exchanges and other crypto platforms would face new restrictions on selling stablecoins to US customers beginning in 2027.

XRP millionaires mobilize capital as Ripple eyes both Asian banking expansion and Washington talks.

Zcash is gaining strength unexpectedly, with a possibility of a quick retrace upwards.

Chanos believes the valuation relationship between MSTR and Bitcoin has become so distorted that professional investors may be able to construct a trade around the gap.

Jeonbuk Bank, a regional South Korean lender, has adopted Ripple Payments for cross-border transactions.

The cryptocurrency market opens up with a substantial volume surge that might translate into a proper correction later on.

TLDR

• Treasury issued a Notice of Proposed Rulemaking on August 17, 2026, to enforce Section 3 of the GENIUS Act.
• The proposal opens a 60-day public comment period for banks, exchanges, and stablecoin issuers.
• Stablecoin issuers must hold one dollar in reserves for every dollar in tokens issued, under the 2025 law.
• U.S. stablecoin licensing becomes mandatory starting January 18, 2027.
• U.S. platforms can only offer stablecoins from licensed issuers starting July 18, 2028.

The U.S. Department of the Treasury issued a Notice of Proposed Rulemaking on August 17, 2026. The rule lays out how the agency plans to enforce Section 3 of the GENIUS Act.

That federal law governs who can legally issue a payment stablecoin in the United States. The new filing adds detail on top of a law that already passed.

Treasury Secretary Scott Bessent framed the move as part of a broader effort to give issuers clear rules. He said the goal is to position the U.S. dollar as the anchor for global stablecoin activity.

The proposal opens a formal 60-day comment window. Exchanges, banks, and stablecoin issuers now have a direct chance to weigh in before the rules become mandatory.

What the Proposed Rule Covers

Congress passed the GENIUS Act in July 2025. The law already requires stablecoin issuers to hold one dollar of reserves for every dollar in tokens outstanding.

Treasury’s new filing builds on that framework with enforcement detail. It defines when a company crosses the line into needing a GENIUS license in the first place.

It also defines what counts as offering or selling a stablecoin to someone in the U.S. That distinction matters most for tokens issued outside the country.

Beginning January 18, 2027, anyone issuing a payment stablecoin domestically will need a federal or state license. Bessent said Treasury is moving quickly through the rulemaking process to meet that timeline.

By July 18, 2028, U.S. platforms will only be allowed to offer stablecoins from licensed issuers. That gives the industry roughly two years to prepare.

What This Means for Stablecoin Holders

If you hold or use dollar-pegged stablecoins today, this proposal does not change anything right now. Nothing about your current holdings is affected by this filing.

This process will decide which issuers can keep operating in the U.S. once the 2027 and 2028 deadlines hit. The coins your exchange or wallet supports could look different depending on whether their issuers qualify.

Builders, smaller issuers, and anyone else with a stake in the outcome can submit formal comments before the window closes. Treasury has not set an exact closing date beyond the standard 60 days from Federal Register publication.

That means the final rule could still shift based on industry feedback. This proposal builds on an advance notice Treasury issued last September, so the agency already gathered one round of input before drafting this version.

The next concrete marker is January 18, 2027, when the licensing requirement takes effect. Every stablecoin issuer serving U.S. customers now has to plan around that date.

The stablecoins in your wallet today are not at risk from this filing. What changes over the next several months is which issuers stay licensed to keep operating in the United States.

The post GENIUS Act Stablecoin Licensing Rules Explained by Treasury appeared first on Blockonomi.

TLDR

• DOGE trades near $0.07037, up 1.11% over the past 24 hours.
• Bollinger Bands are showing the tightest squeeze since September 2023.
• $0.07126 is the key resistance level; $0.06876 is the main support.
• Open interest sits near $1.2 billion, pointing to heavy leverage in the market.
• Analyst Ali Charts flagged the squeeze on X as a sign that a bigger move could be coming.

Dogecoin is trading in a narrow range today. The price sits near $0.07037, up 1.11% over the past day.

This small gain keeps DOGE close to the middle of its recent trading range. The coin has not moved much in either direction for several days.

Traders are watching the Bollinger Bands on the DOGE chart closely. These bands measure how much the price moves up and down over time.

Right now the bands are unusually tight. The gap between the upper and lower band is smaller than it has been in years.

What the Squeeze Means for DOGE

The upper Bollinger Band sits at $0.07126. The lower band is near $0.06876.

A move above the upper band would be the first sign of fresh upward momentum. A drop below the lower band would point the other way.

This kind of squeeze often comes before a larger price swing. It does not say which direction that swing will take.

Analyst Ali Charts posted about the pattern on X, saying DOGE is showing “the tightest Bollinger Band squeeze since September 2023.” The post noted that this setup can lead to a jump in volatility once it breaks.

Ali Charts did not predict whether the next move would be up or down. The analysis matched what the TradingView chart already showed.

Trading volume adds more context. Data from CoinGlass shows DOGE volume is still active this month.

The daily volume bars are smaller than the spikes seen earlier in August, though. Lower volume can make it harder to confirm a real breakout.

Open Interest Keeps Climbing

Open interest for DOGE is near $1.2 billion, according to CoinGlass. This figure has grown even as the price has stayed close to $0.07.

Rising open interest next to a flat price points to more leveraged positions building up. That combination can make the next move sharper than usual.

If DOGE breaks above $0.07126, those leveraged positions could add fuel to an upward move. If price falls below $0.06876, the same leverage could speed up a decline.

The two levels give traders clear points to track. A close above $0.07126 would strengthen the case for more upside.

A failure to hold $0.06876 would weaken the current setup. For now, DOGE remains inside this narrow band, with the market waiting for a clear break in either direction.

The post Dogecoin (DOGE) Price: Key Levels to Watch at $0.07126 and $0.06876 appeared first on Blockonomi.

TLDR

• The CFTC is preparing to seek public input on futures tied to AI computing capacity, according to an Aug. 17 Bloomberg report.
• CME Group is targeting Oct. 5 for two compute futures contracts based on Silicon Data’s GPU rental benchmarks.
• Intercontinental Exchange is developing separate compute contracts using Ornn’s Compute Price Index and NativX’s COIL Index.
• No formal CFTC request had appeared publicly as of Aug. 18, so the exact comment period and questions remain unconfirmed.
• Crypto mining firms like TeraWulf and Galaxy Digital are already shifting infrastructure toward AI hosting demand.

The U.S. Commodity Futures Trading Commission is getting ready to ask the public for input on a new kind of futures contract. These contracts would be tied to the cost of artificial intelligence computing power, according to a Bloomberg report published Aug. 17.

The agency reportedly sent a draft request to the White House Office of Management and Budget for review. Once that review wraps up, the CFTC could open a public comment period lasting 30 or 60 days.

As of Aug. 18, no request had shown up on the CFTC’s public comment pages or in the Federal Register. That means the specific questions, deadlines, and impact on pending contracts are still unknown.

How The CFTC Review Works

A request for public comment is not the same as a proposed rule. It also would not automatically stop CME from launching its contracts unless the CFTC raises objections or asks for more review.

The CFTC’s questions are expected to go beyond approving a single contract. Regulators may want to know how reliable the pricing benchmarks are and whether the market can resist manipulation.

Other likely topics include settlement methods, trading liquidity, and how to define a standard unit of computing power. Bloomberg reported that the review could complicate launch timing for both CME and ICE, though the CFTC has not confirmed any delay.

CME And ICE Are Building Competing Contracts

CME and Silicon Data announced their partnership back on May 12. The planned contracts would track daily benchmarks measuring on demand GPU rental rates.

Silicon Data collects pricing data across GPU markets, where costs shift based on hardware type, provider, region, and contract length. CME says a standardized benchmark could make those scattered prices easier to compare.

CME Chairman and Chief Executive Terry Duffy called compute “the new oil of the 21st century” when the plan was announced. That is CME’s own description of the market rather than a formal regulatory label.

The Oct. 5 date being reported now did not appear in CME’s original May announcement. The exchange has said any launch stays subject to regulatory review.

ICE announced its own plans in May for cash settled contracts using Ornn’s Compute Price Index. That index tracks prices across GPU models including Nvidia’s H100, H200, B200, and RTX 5090 chips.

ICE also plans a separate product using NativX’s COIL Index, which tracks compute and connectivity costs adjusted for energy use. Those contracts would trade alongside ICE’s existing electricity and natural gas products.

Neither ICE project has a confirmed launch date yet. Having multiple competing benchmarks could give traders more choice, but it might also spread trading activity thin across different contracts.

This new derivatives market comes as AI infrastructure spending keeps climbing across the U.S. Some crypto mining companies have already converted power and cooling infrastructure toward AI hosting work.

TeraWulf reportedly earned more revenue from AI hosting than Bitcoin mining during the first quarter of 2026. Galaxy Digital also delivered 133 megawatts of computing capacity to CoreWeave under a 15 year deal at a former mining site in Texas.

The next concrete step is for the OMB to finish its review and for the CFTC to publish its formal request. CME will also need to complete the standard contract filing process with the CFTC before any product can trade, keeping Oct. 5 a target date rather than a locked in launch.

The post CME Targets October 5 For New AI Compute Futures Contracts appeared first on Blockonomi.

TLDR

• BitMine added 9,926 ETH last week, raising its total holdings to 5,815,164 tokens.
• BMNR stock rose 3.68% to close at $18.73 on Monday, then gained further in after hours trading.
• The company has staked 5,067,309 ETH, about 87% of its total holdings, generating a 2.61% yield.
• BitMine repurchased 1.7 million shares last week, bringing total buybacks since July to more than 20.8 million shares.
• The company’s Ethereum stack now equals 4.8% of ETH’s total supply, closing in on its 5% target.

BitMine Immersion Technologies added 9,926 Ethereum tokens over the week ending August 16, according to a company disclosure. The purchase brought its total holdings to 5,815,164 ETH, valued at roughly 11 billion dollars.

The company’s stock, which trades on the New York Stock Exchange, closed at $18.73 on Monday. That marked a gain of 3.68% for the day. Shares added another 0.37% in after hours trading.

Trading volume came in near 30.95 million shares. That was slightly below the average volume of 32.51 million shares. The stock has traded between $12.80 and $65.60 over the past year.

Staking Generates Steady Yield

BitMine has staked 5,067,309 ETH, which makes up about 87% of its total holdings. Those staked tokens were worth close to 9.6 billion dollars at the company’s reference price.

The staking program produced a seven day yield of 2.61%. Based on that rate, BitMine projects annualized staking revenue of 250 million dollars.

That figure is a projection rather than a guaranteed return. Staking rewards can shift based on network activity and validator participation.

BitMine also continued its stock buyback program during the same week. The company repurchased 1.7 million shares, bringing total repurchases since July 1 to more than 20.8 million shares.

The board approved a buyback program worth up to 4 billion dollars back in April. Chairman Thomas Lee described the ongoing repurchases as the largest ever carried out by a crypto treasury company.

Closing In On The 5% Target

BitMine calls its goal of owning 5% of all ETH the “Alchemy of 5%.” Based on an estimated supply of 120.7 million tokens, that target equals about 6.035 million ETH.

The company’s current holdings put it at roughly 96% of that goal. About 219,836 more tokens would be needed to reach the full target.

BitMine has purchased ETH every week since starting its treasury strategy on June 30, 2025. That streak has now lasted about 14 months without a break.

The company’s total portfolio, including crypto, cash and other holdings, was valued at 11.4 billion dollars. That includes 210 Bitcoin, 78 million dollars in cash, and stakes in Beast Industries and Eightco Holdings.

BitMine’s Ethereum treasury is currently the largest in the world. It ranks as the second largest crypto treasury overall, behind Strategy Inc, which holds 840,447 Bitcoin worth close to 58 billion dollars.

Lee has linked the company’s strategy to the ETH to BTC price ratio, which sits at 0.02994. He has pointed to rising use of Ethereum for tokenization and AI applications as a reason for the company’s continued buying.

BitMine has not set a public deadline for reaching its 5% supply target. Its next weekly update will show whether the buying streak continues.

The post BitMine Adds 9,926 ETH As Ethereum Holdings Reach 5.82 Million appeared first on Blockonomi.

TLDR

• BNB trades at $607.36, up 0.73% in 24 hours, holding above its 50-day moving average of $603.61.
• The 200-day moving average at $618.83 stands as the next key resistance level for BNB.
• Daily trading volume has cooled after earlier spikes in August, showing the recovery lacks heavy volume backing.
• Open interest in BNB derivatives is nearing $1 billion, pointing to elevated trader positioning.
• Binance Wallet launched an AI-powered bStock trading challenge offering up to 100,000 USDC in rewards.

BNB is trading at $607.36 as of writing. That marks a 0.73% gain over the past 24 hours.

The price has managed to stay above its 50-day moving average, which sits at $603.61. This level is acting as short-term support for the token.

Holding above this line keeps the recent recovery intact. A drop below it could weaken the current setup.

The next major hurdle sits higher up. The 200-day moving average is at $618.83, and BNB has not reached this mark yet.

Traders are watching this level closely. A break above $618.83 would strengthen the bullish case for BNB.

Volume and Open Interest Signals

Trading volume has eased since the spikes seen earlier in August, according to CoinGlass data. This suggests the current price move has not been driven by a fresh wave of buying.

Open interest tells a different story. It is climbing toward $1 billion, showing that outstanding derivatives positions remain high.

Elevated open interest can lead to sharper price swings. If positions become crowded, unwinding them could push BNB firmly in one direction or another.

Binance Ecosystem News

BNB Chain has promoted a new Binance Wallet challenge tied to AI-powered bStock trading. The reward pool for the challenge reaches up to 100,000 USDC.

The initiative uses BNB Chain’s Agent Studio alongside a CoinMarketCap integration. This could bring more attention to the wider BNB ecosystem.

BNB Chain shared the news with the phrase, “Markets run 24/7, your research should too.” The post focused on the AI-powered bStock trading feature within Binance Wallet.

There is no confirmed link between this announcement and BNB’s price movement. It does add another data point for traders following the ecosystem this week.

For now, the $603.61 support and $618.83 resistance remain the two levels to track. BNB last changed hands at $607.36, sitting between the two.

The post BNB (BNB) Price: Trading at $607 With Recovery Intact Above Support appeared first on Blockonomi.

Although BTC has recovered slightly from the weekend slumber and sits above $64,000, Ripple’s native token has failed to join the rather modest ride and continues to fight for the $1.00 support; however, it’s from the downside now.

Fresh on-chain data shared by popular crypto analyst Ali Martinez showed that this hasn’t deterred large investors from growing louder amid these market struggles.

XRP Whales Are Back

Fresh on-chain data cited by popular crypto analyst Ali Martinez indicated that whale activity on the XRP Ledger has exploded over the past 24 hours to new local peaks. More precisely, the number of XRP transactions worth over $1 million has surged by 280% to nearly 40. For reference, the number of such transactions during the previous two days stood at around 10.

This sudden activity spike comes only a few days after another significant whale development in which addresses holding between 10 million and 100 million XRP accumulated approximately 72 million tokens in a single day. At the time, this was worth roughly $72 million.

These are numerous signs that network activity has picked up the pace lately and strengthened considerably. Another signal for this came last week when the XRP Ledger recorded nearly 50,000 active addresses within 24 hours, which became a multi-month peak. At the same time, the social sentiment surrounding the native token deteriorated to a three-month low.

Simply put, activity among network users and some of Ripple’s biggest participants is moving in the right direction, while the price of the cross-border token is not.

XRP Still Struggles at Key Support

XRP’s recent slumber is more concerning to investors as the asset slipped by 1% in the past 24 hours to trade just under the crucial psychological support at $1.00. The derivatives market paints another conflicting picture, as the token’s open interest recently approached levels last seen around the massive October 10 liquidation event. In addition, CryptoQuant flagged rising selling pressure on Binance.

The battle for $1.00 appears to be favoring the bears, as long traders have absorbed considerably larger liquidation losses during XRP’s repeated attempts to defend that level.

Consequently, the returning whale activity becomes even more intriguing, as this 280% surge in large transactions doesn’t reveal whether whales were buying or selling. It shouldn’t necessarily be interpreted as accumulation, but when combined with last week’s major purchases and overall rising XRPL activity, it shifts the broader perspective to a more promising one.

The post XRP Whale Activity Explodes 280% as Price Falls Below $1: What’s Going On? appeared first on CryptoPotato.

Starting next Monday, the popular project will update its pricing model for creating and editing applications, which aims to end the heavily subsidized 0.25 PI fee for most creators.

We will also take a look at the native token’s performance as of late, as it was rejected at $0.09 once again.

New Pricing Model

The blog post published by the Core Team explained that Pi Network charged just 0.25 PI to create an application and another 0.25 PI to edit one until now. However, the project itself covered the difference between that amount and the significantly higher actual cost of the underlying AI services.

The new system will take a different approach, as standard prices will more closely reflect those AI costs and may vary depending on the resources required for each action. Although the team claimed that it wouldn’t add a markup to the underlying AI service costs, it admitted that there’s an important exception.

Creators whose apps demonstrate real utility and usage from distinct users will remain eligible for the previous subsidized pricing. The project plans to review eligibility regularly. This means that developers who initially don’t qualify could earn the cheaper rate later if their apps start to attract more users.

The post further explained that subsidizing every app had also meant funding projects created merely for experimentation, testing, or spam. The new model removes that option as it’s designed to direct more of the resources toward applications that real people actually use.

The Pi App Studio was introduced a while back, and the project continues to expand its utility. Some of the latest updates included adding backend infrastructure and app-planning capabilities in July.

The August 24 change will essentially make it mandatory for creators to build an app that Pioneers actually use, so the Core Team can continue subsidizing development costs.

PI Stopped at $0.09

The rather dull market moves have continued over the past several days, and Pi Network’s native token is no exception. It exploded to almost $0.10 at the start of the month, where it was rejected and slipped back down to $0.09.

The bears resumed control of the market and pushed it below that level to $0.084 last week, before PI rebounded and challenged the key support-turned-resistance at $0.09. However, it was rejected once again on Friday and Saturday and now sits 4-5% below it. PI’s market cap remains well below $1 billion, making it the 69th-largest cryptocurrency by that metric.

The post Pi Network Announces Important Update for Pioneers: What Changes August 24? appeared first on CryptoPotato.

Ripple has partnered with Jeonbuk Bank in South Korea as the latter prepares to deploy Ripple Payments for cross-border remittances. The deal makes Jeonbuk Bank the first regional bank in the country to deploy the payment service.

The main objective is to support businesses that have traditionally faced several days of delays when moving money across borders via conventional transfers.

Expansion in Korea

The partnership will be used for international transfers for businesses such as import-export companies, IT startups, and online content creators. Traditional transfers can take days to complete as payments move through multiple intermediary banks via the SWIFT network. Ripple Payments handles settlement in seconds to minutes and operates 24/7.

Weighing in on the development, JB Jeonbuk Bank’s President, Park Choon-won, said,

“With this partnership with Ripple, JB Jeonbuk Bank is ready to move beyond its role as a regional bank and emerge as a digital finance leader that meets global standards. This partnership will become a new growth engine for the bank, and we will lead innovation that reshapes the financial paradigm, going beyond the adoption of new technology.”

The announcement follows two other Ripple deals in South Korea this year. In April, the fintech company teamed up with Kyobo Life Insurance to focus on tokenized government bond transactions. The companies previously said that they would assess the technical and regulatory requirements for the approach, using Ripple Custody to support the storage, transfer, and settlement of tokenized assets. This was Ripple’s first deal with a major insurance institution in the country.

KBank is also working with Ripple to test how blockchain infrastructure could be integrated into its existing cross-border transfer system. The internet-only bank is running a two-phase proof of concept. It plans to use the company’s Palisade digital wallet during this stage.

Beyond its work with banks and financial institutions, Ripple has also been expanding the reach of RLUSD in South Korea. One of the company’s executives recently revealed that the stablecoin is now listed on the four largest crypto exchanges in the country – Upbit, Bithumb, Korbit, and Coinone.

Price Faces Downside Risks

On the price side of things, XRP’s struggle around $1 has left the token vulnerable to another decline. One analyst has projected a potential decline of 20% to 40%. That would put the token between $0.85 and $0.65, a range that could serve as a macro accumulation zone.

Still, short-term momentum is showing some signs of stabilizing. Another market watcher said XRP’s four-hour RSI is holding near 42, while tighter price action suggests selling pressure has eased. For a stronger recovery, $1.015, $1.05, and $1.081 are levels to watch. A sustained move above $1.081 may open the way toward $1.145 and $1.20.

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Jane Street – the popular quant trading firm with a heavy orientation toward crypto – disclosed more than $1 billion in U.S. spot Bitcoin ETF holdings as of the second quarter of this year.

BlackRock’s iShares Bitcoin Trust (IBIT) is currently dominating its portfolio. According to the firm’s latest Form 13F, filed on August 14th with the Securities and Exchange Commission (SEC), Jane Street holds roughly $828 million invested in IBIT, alongside other positions in products including Fidelity’s FBTC and Grayscale’s GBTC.

The filing covers the overall securities the firm holds at the end of the reporting period rather than direct Bitcoin ownership.

With that in mind, it turns out that the quant trading heavyweight also expanded its exposure across crypto exchange-traded funds beyond Bitcoin. As CryptoPotato recently reported, the same Q2 filing showed it holding more than 1.2 million shares of Bitwise’s spot XRP ETF, compared with just 20,605 shares three months earlier.

Jane Street also reported positions in XRP products from Franklin Templeton, Grayscale, Canary Capital, and 21Shares.

The Bitcoin numbers represent a serious increase from the first quarter. The company had previously cut its IBIT position by around 71% to about 5.9 million shares, which were worth approximately $225 million before rebuilding the stake during the second quarter.

That said, the holdings shouldn’t necessarily be interpreted as a one-sided bullish bet on Bitcoin. The firm is one of the largest market makers in the industry, and these filings provide only a quarter-end snapshot of long positions. They do not show the firm’s complete short, futures, swaps, or exposure to other derivative products.

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BitMart’s Chinese-language account has demanded answers from founders Sheldon Lee and Yi Li over frozen user funds and unpaid employee salaries, giving them until August 19 to respond publicly.

The statement also calls for verifiable asset disclosures and a detailed repayment plan as questions grow over what happened to funds held on the exchange.

BitMart Faces Questions Over User Funds and Withdrawals

In a post published on August 17, the account said many users still cannot withdraw their funds, while some employees have yet to receive their final salaries or compensation.

“This isn’t some business dispute that can be brushed off with a single ‘ceasing operations’ statement,” it wrote.

The statement demanded evidence showing BitMart’s current wallets, assets, liabilities, and usable reserves. It also asked management to explain who restricted withdrawals, when the decision was made, and when executives first knew users could no longer withdraw normally.

The account further questioned whether BitMart continued encouraging deposits or trading after management became aware of withdrawal problems. It called for an investigation into affiliated accounts, related companies, trusts, and other arrangements involving BitMart-related funds. The statement also raised questions about accounts allegedly linked to Yi Li that may have held tens of millions of dollars and recorded batch withdrawals.

However, the account stressed that the allegations had not been proven and said that potentially criminal conduct should not be alleged before the evidence is complete. It nevertheless demanded explanations about the source and destination of funds if the accounts existed.

Employee compensation was another focus, with the post contending that rank-and-file workers did not decide how company funds were managed or when operations would end; thus, salaries and outstanding compensation should be paid in full.

The August 19 deadline also covers a repayment plan detailing remaining assets, total liabilities, expected user recoveries, repayment order, start and completion dates, oversight arrangements, and potential independent audits.

Sheldon Lee responded, saying the material cited by the Chinese account consisted of “fabricated rumors.” According to him, BitMart had collected evidence and would file a police report during US daytime hours, alongside a lawyer’s letter to X seeking technical and data forensics.

Blockchain investigator ZachXBT questioned why BitMart would not simply return the funds if it had sufficient liquidity. He also criticized the lack of transparency around users’ access to their money.

But in a later update, Lee claimed that the account had been hacked and the issues raised had not been posted by current employees.

Shutdown Timeline Adds Pressure

The dispute comes shortly before BitMart’s planned shutdown, with a July 26 notice informing users that the exchange would discontinue trading services on August 26, and its official shutdown is scheduled for January 31, 2027.

That announcement placed BitMart alongside other crypto platforms preparing to close during a difficult market period, including BitMEX, which told its customers on July 23 that it would stop operations by September 23. According to analysts like Ran Neuner, the exchange shutdowns are part of a broader market clean-up.

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