Intel cuts more jobs in its Data Center and AI Group despite 22% revenue growth, as CEO Lip-Bu Tan pushes to flatten the company's workforce by

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Augustus, a clearing-bank startup, hit a $1B valuation after a $180M Series B led by Tiger Global. The firm bridges stablecoins and traditional

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Trump agrees to ethics provision, clearing the way for the CLARITY Act vote. Act signed into law in 2026 at 43% YES.

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Russia approves a crypto bill for foreign trade while banning domestic use. Bitcoin reaching $160K by December 31, 2026 is at 2.8% YES.

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The European Commission is set to fine Google under the Digital Markets Act in a record penalty, with implications for tech regulation and crypto

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Bitcoin Magazine

Russia Passes Landmark Crypto Law, Setting State-Run Rails for Sanctioned Trade

Russia’s State Duma passed a law on Tuesday that regulates the circulation of crypto and digital rights for the first time, a framework that sets rules for crypto exchanges, digital depositories, and investors while it opens a state-supervised channel for cross-border trade.

Lawmakers cleared bill No. 1194918-8, “On Digital Currency and Digital Rights,” in its second and third readings, the final stage in the chamber, according to semi-official Russian news agency Tass. 

The measure heads to the Federation Council and to President Vladimir Putin for a signature, a process expected to take two more weeks before the law takes effect. It caps a sweeping regulatory push that has moved through parliament across the year.

Legalization or taxation?

The law does not turn bitcoin into money a Russian can spend at the store. The ruble stays the sole lawful currency for goods and services inside Russia, the ban on crypto payments holds, and a bar on advertising that promotes such use holds with it. 

What the law does is grant crypto a legal identity and a set of gates. It recognizes digital assets as property, licenses the firms that handle them, lets investors buy within set limits, and clears crypto for use in foreign trade. 

In plain terms, Russia is not freeing crypto for daily life; it is bringing crypto inside the state’s fence, where the government can watch it, tax it, and steer it toward the uses it wants.

Anatoly Aksakov, chairman of the Duma Committee on Financial Markets, said the bill was “aimed at creating legal conditions for the functioning of cryptocurrencies in our country,” and that lawmakers had “maximally” weighed industry feedback. 

From September 1, 2026, the Bank of Russia will license five categories of participant — exchanges, brokers, management companies, depositories, and exchangers — the spine of the new market.

Firms in a special registry may run exchange activity, with a grace period to July 1, 2027, before that requirement takes hold.  Such firms must carry minimum capital of 15 million rubles, some $190,000, and must join a self-regulatory body. 

The law defines exchange activity as the systematic purchase and sale of cryptocurrency for one’s own account outside organized trading, with “systematic” set at two or more deals in a month above 3.5 million rubles.

A channel for sanctioned trade

The commercial heart of the law sits in the cross-border carve-out. The framework legalizes what gray-market networks did in the shadows: settlement of foreign trade in crypto, outside the dollar-and-euro banking system that Western sanctions target. It hands the practice the Bank of Russia’s stamp. 

The same function ran through venues such as Garantex, which U.S. law enforcement shut down in March 2025, and through the ruble-pegged A7A5 stablecoin, a token that has moved tens of billions in sanctions-linked flows and that the U.K. has named in a sanctions round. 

Russia’s crypto pivot

Moscow has pitched crypto trade as a route around sanctions for years; the new law builds it into formal infrastructure.

The turn is a sharp one. In January 2022, weeks before the invasion of Ukraine, the Bank of Russia proposed an outright ban on crypto transactions and mining, and cast digital assets as a threat to financial stability. 

That stance held for as long as it took Western governments to cut Russian banks from SWIFT, a move that made trade in dollars and euros a harder task. Four years of infighting followed between a finance ministry that wanted crypto legal and a central bank that wanted it banned. 

Putin signed an experimental law in August 2024 that permitted mining and international crypto payments; Tuesday’s bill is the permanent frame that replaces the trial.

The law’s rules for investors and coins

For investors, the law splits the market in two. Non-qualified retail buyers may purchase up to 300,000 rubles of cryptocurrency, near $3,800, through a single licensed intermediary each year, and may send up to 100,000 rubles abroad. 

Qualified investors face higher ceilings — up to 3 million rubles for purchases and 1 million rubles for foreign transfers. Both groups must pass a risk-awareness test, and qualified status can rest in part on prior crypto experience. Tax treatment is set to track the rules for securities, with rates to firm up as implementing regulations arrive. The tiered design follows earlier steps that opened bitcoin access to retail buyers.

The law leans on monitoring rather than disclosure of every wallet. Drafters dropped an earlier plan to require holders to reveal individual wallet addresses; reporting will center on transaction volumes and account balances.

Large transfers to foreign or third-party accounts face a 48-hour hold, a window for authorities to review funds before they clear. 

Assets that clear strict thresholds may trade on organized venues — an average market cap above 5 trillion rubles over two years and average daily volume above 1 trillion rubles — limits expected to confine early trading to bitcoin and ether, with solana a possible third. Privacy coins that hide transaction data stay barred.

The main provisions take effect on September 1, 2026, with a transition period for existing operators that runs to March 1, 2027.

The passage marks another step in a run of Russian crypto moves, from a bid to make digital assets part of “everyday finance” to a crackdown on unregistered mining that carries the threat of forced labor. 

This post Russia Passes Landmark Crypto Law, Setting State-Run Rails for Sanctioned Trade first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Galaxy (GLXY) Commits $5 Million to Prepare Bitcoin for the Quantum Threat

Galaxy Digital launched a Bitcoin Quantum Readiness Initiative today, a program that commits up to $5 million in developer grants, a research effort, and a new advisory council to harden the network against the arrival of powerful quantum computers.

The Nasdaq-listed firm framed the multi-pillar effort as an attempt to close a gap between two worlds moving at different speeds. 

“There’s a gap between the quantum computing world, which is moving fast, and the Bitcoin development world, which is just beginning to engage with post-quantum cryptography in earnest,” said Alex Thorn, head of firmwide research at Galaxy, whose team has tracked the threat for Wall Street and cast it as a long-term engineering problem rather than a crisis.

Bitcoin’s security rests on elliptic curve cryptography, a scheme that a machine running Shor’s algorithm could break by deriving a private key from an exposed public key. 

An attacker with such a tool could forge a signature and drain a wallet, with nothing on-chain to flag the theft. No such computer exists today, yet the estimated timeline for one keeps compressing, a trend the Bitcoin Policy Institute has warned narrows the window for the network to upgrade.

Galaxy’s multi-pillar effort to prepare for quantum

The grant program forms the first pillar. Galaxy said it would fund work on quantum-resistant transaction proposals, the integration of post-quantum signature schemes, tooling for wallet and custodian migration, and formal security audits of proposed code. 

Grants will be judged one at a time and paid on a milestone basis, and the firm expects to open applications without delay through the address quantum@galaxy.com.

A research and publishing arm forms the second pillar, with Galaxy Research set to publish analysis of the threat and the developer response for investors, policymakers, and the technical community. 

The third pillar is a Quantum Advisory Council that will guide the research and weigh grant proposals. Its first members are Barry Sanders, professor and scientific director of Quantum City at the University of Calgary; Damien Bérubé, an MIT Sea Grant Knauss Fellow; and Eran Tromer, a professor of computer science at Boston University.

“As leaders in the digital assets space, we believe it’s important that we help be part of the solution to any potential threat quantum computing poses to Bitcoin,” said Mike Novogratz, founder and CEO of Galaxy, a figure known for bold price calls on bitcoin. Sanders said quantum timelines “continue to compress” and that bitcoin should be no exception to the preparation underway across governments and industries.

Old and reused addresses face the sharpest risk, since their public keys sit exposed on the ledger. An estimated 1.7 million BTC rest in legacy pay-to-public-key addresses, a stash with keys on permanent display. 

Defenses under review center on migration to quantum-resistant address types and new signature schemes, an approach embodied in BIP-360, a proposal from developer Hunter Beast that removes public-key exposure from standard transactions. 

That proposal merged into the Bitcoin Improvement Proposal repository this year, and BTQ Technologies deployed a working implementation on a quantum testnet.

Bitcoin’s decentralized governance turns such changes into a slow process of design, review, testing, and deployment that can span years. Some observers cast that structure as the true obstacle, a governance challenge as much as a cryptographic one, and the pool of developers on the problem stays small next to its scale.

Quantum tech is surging

The launch lands in an active warning cycle. Galaxy Research has held that the risk is real yet the countermeasures are advancing, and President Trump signed executive orders that advance U.S. quantum work and set a 2031 federal deadline for post-quantum defense. NIST finalized its first post-quantum standards in 2024.

Galaxy said it welcomes co-funders and other stakeholders, and acknowledged that peers may pledge their own funds toward the same goal. The firm cast that prospect as a benefit rather than a rivalry, with an open invitation to institutions and developers who want to join.

This post Galaxy (GLXY) Commits $5 Million to Prepare Bitcoin for the Quantum Threat first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Jack Mallers Steps Down as CEO of Bitcoin Treasury Twenty One Capital 

Bitcoin treasury Twenty One Capital has named Raphael Zagury as its chief executive officer, a leadership change that arrives seven months after the firm listed on the New York Stock Exchange. 

Zagury succeeds founder Jack Mallers, who is stepping down to focus on his Bitcoin payments company, Strike. 

Speaking on the transition, Mallers said, “I’m grateful to everyone at XXI and everyone who believed in what we built,” said Jack Mallers. “Serving Bitcoiners has always been the mission, and that doesn’t change. Strike is where I carry it forward.”

Austin, Texas-based Twenty One, which trades under the ticker “XXI” on the NYSE, said it would focus on becoming an institutional-grade operating company that’s judged on cash flow generation and capital allocation discipline, not just its Bitcoin holdings.

It added that it would build and acquire high-quality operating businesses that “leverage Twenty One’s balance sheet while maintaining disciplined capital allocation at the parent company and create a long-term ownership model inspired by Berkshire Hathaway.”

“My job is to build the operating company around [Twenty One], with the discipline, governance, and executional rigor of an institution,” Zagury said in a statement.  “I believe our business will perform best when we also focus on the cash flow we generate and the rigor with which we allocate capital, not only by the Bitcoin we hold.”

Mallers leaves XXI

The firm, the product of a joint effort by Tether, Bitfinex, Cantor Fitzgerald, and SoftBank, is the second biggest public Bitcoin treasury, according to Bitcointreasuries.net, with a total of 43,514 coins — or $2.8 billion in Bitcoin at today’s prices. 

It debuted last year through a SPAC merger with Cantor Equity Partners, a blank check company affiliated with financial services firm Cantor Fitzgerald.

“XXI was built by Bitcoiners, for Bitcoiners. During my role as CEO, we defined a vision for a Bitcoin-native financial enterprise. As I focus my efforts fully at Strike, I look forward to watching the next phase of growth at XXI,” Mallers said.

The companies behind it are a mix of traditional finance giants and crypto companies: Tether is the biggest issuer of stablecoins and Bitfinex is a crypto exchange. SoftBank is a Japanese multinational investment holding company and Cantor Fitzgerald is a Wall Street firm previously headed up by U.S. President Donald Trump ally and Secretary of Commerce, Howard Lutnick. 

Zagury founded and leads the team behind Elektron Energy, a large-scale Bitcoin mining and infrastructure business. 

Before that, he held roles as a managing director at Deutsche Bank and Merrill Lynch, and as a vice president at Goldman Sachs. He also co-founded OpenCo, at one point among Brazil’s largest fintech lenders. 

The change at the top comes with a shift in deal strategy. In April, Twenty One had floated a plan to consolidate the firm, Strike, and Elektron Energy into a single Bitcoin-native platform spanning financial services, mining infrastructure, capital markets, and treasury. According to Bloomberg reporting, that deal has been scrapped. Twenty One confirmed that Strike will now remain a standalone business and is out of the running for a merger.

This post Jack Mallers Steps Down as CEO of Bitcoin Treasury Twenty One Capital  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo and Micah Zimmerman.

Bitcoin Magazine

Bitcoin Miner Hut 8 Shares Jump on $9.8 Billion AI Data Center Deal

Bitcoin miner Hut 8’s shares rose Monday after the Toronto Stock Exchange- and Nasdaq-listed firm said it had signed a second 15-year lease ​worth $9.8 billion for its AI data center. 

Hut 8 shares peaked as high as $106 a pop before dropping to around $101. They closed Monday up over 10%. 

The deal will see the Toronto-based firm’s Beacon Point campus in Texas data center cover 352 ​megawatts of IT capacity. The tenant using the data center’s will have its capacity doubled to 704 MW.

Hut 8 added that the campus has a base-term contract value of $19.6 billion over 15 years, rising to as much as $50.2 billion if renewal options are exercised.

Asher Genoot, CEO of Hut 8, said: “The real test of our power-first approach is what our partners are willing to commit against it. Our tenant at Beacon Point chose to double its footprint at the site, the strongest validation an asset can receive.”

Hut 8 last year signed a deal with American Data Centers Inc., a company backed by President Donald Trump’s sons Eric and Donald Jr., to contribute its Bitcoin mining equipment and help debut their American Bitcoin mining firm. 

AI pivot

Hut 8 is one of a number of top publicly listed miners that have started directing resources to providing the infrastructure for high-powered computing.

The company in December secured a Google-backed partnership with Anthropic and Fluidstack to build up to 2.3 gigawatts of AI data center capacity in the U.S.

A number of Bitcoin miners have already gone all-in on the industry as minting the biggest digital coin by market cap becomes harder and demand for AI compute surges. 

As the price Bitcoin has dipped, it has become harder for Bitcoin miners to make ends meet. 

Nasdaq-listed Bitfarms last year announced that it would wind down mining operations to focus on high-performance computing.

Instead of dropping mining operations completely, a number of Bitcoin miners have instead marketed themselves as “compute” or “digital infrastructure” companies while switching between minting digital coins and providing compute for AI — depending on which is more profitable.

Top miners Terawulf, IREN, and Cipher Mining all last year signed multi-year HPC contracts with Alphabet Inc.’s Google and Microsoft.

Both the crypto mining and HPC industries require huge amounts of energy and data centers — but the move isn’t always easy: AI data centres require more expertise than Bitcoin mining.

This post Bitcoin Miner Hut 8 Shares Jump on $9.8 Billion AI Data Center Deal first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Bitcoin-Treasury Capital B Plans 10-for-1 Reverse Stock Split for September

Capital B, the Paris-listed bitcoin treasury company once known as The Blockchain Group, will combine every 10 existing shares into one new share beginning September 8, according to a regulatory filing the company published Monday.

The consolidation reduces the number of outstanding shares from 300,650,632 to 30,065,063. Each new share will carry a par value of €0.80, up from €0.08 for the existing stock. The company framed the transaction as a “purely technical exchange” that leaves the aggregate value of each shareholder’s holdings unchanged, save for the treatment of fractional entitlements.

Capital B said the move aims to “support the company’s institutional development and to open the company’s shares to a broader universe of investors.” 

Many institutional funds operate under internal rules that bar them from holding stocks below a set price, and some exchanges impose minimum-price thresholds for continued listing. A higher quoted price per share removes one barrier to that participation.

Capital B shares trade near €0.48 on Euronext Growth Paris and have declined about 40% since the start of the year, per Google Finance data. Should the company’s market value hold, each consolidated share would open near €4.80.

Key dates for Capital B shareholders

The reverse split period runs from August 6 through September 7. Shareholders who hold a number of shares divisible by 10 will see their positions converted with no action required. 

Those holding leftover shares can buy or sell stock before the deadline to reach a round multiple of 10. For investors who do not, financial intermediaries will sell the shares tied to fractional entitlements and distribute the cash proceeds, with payments set to begin September 14.

September 7 marks the final trading day for the existing shares. The consolidated shares start trading the following day under a new ISIN, the code exchanges use to identify a security. The company has set September 9 as the record date and September 10 for settlement and delivery.

Capital B will also pause conversions of certain convertible bonds and exercises of share warrants from August 17 through September 10. After the split, the company will adjust conversion prices and warrant ratios to reflect the reduced share count, multiplying bond conversion prices by 10 while dividing warrant ratios and unvested free shares by 10.

Treasury strategy stays central

The share restructuring does not add bitcoin to the balance sheet or raise new capital on its own. It changes the number and nominal value of shares through a technical consolidation, a step the company tied to its goal of reaching a wider investor base.

Capital B’s bitcoin holdings

Capital B holds 3,139 BTC, a figure that ranks it as the second-largest listed corporate bitcoin holder in Europe, according to BitcoinTreasuries.net. Germany’s Bitcoin Group SE sits ahead of it with 3,605 BTC, the data shows. Capital B, which describes itself as Europe’s first bitcoin treasury company, built much of that position through fundraising rounds during the first half of 2026. 

In May, it acquired 192 BTC for €13 million after completing three capital raises.

The company has moved to widen its access to capital. In June, shareholders approved authority for as much as €5 billion in capital increases and €100 billion in credit instruments, resolutions that drew more than 95% support from votes cast. Those approvals give the board financing capacity for future purchases.

Capital B measures progress through bitcoin held per fully diluted share rather than total reserves alone, a framework common among bitcoin treasury companies. The firm has also said it is developing a bitcoin-backed credit product for the European market, though it has not set a launch date.

This post Bitcoin-Treasury Capital B Plans 10-for-1 Reverse Stock Split for September first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin climbed above $66,000, extending its advance as exchange-traded fund inflows and a sharp drop in balances on major crypto exchanges eased some of the selling pressure that has weighed on the market since May.

Data from CryptoSlate shows that the largest cryptocurrency traded as high as $66,277 and was changing hands near $66,181 as of press time, up about 3.3% from its previous close.

The move took Bitcoin to its highest level in more than a month and placed it above the range that contained several recovery attempts during July.

The advance also forced leveraged traders out of their positions. CoinGlass data showed that 78,126 traders were liquidated over 24 hours, with total liquidations reaching about $260.3 million.

Those liquidations helped amplify the price move as exchanges automatically closed positions that could no longer meet margin requirements. However, the size of the wipeout does not establish whether the rally was led by durable spot-market demand or by traders unwinding leveraged bets.

That distinction is becoming central to Bitcoin’s latest recovery. Institutional flows and daily exchange movements have improved. Still, longer-term indicators show that investors are not yet accumulating Bitcoin or transferring new stablecoin purchasing power onto trading platforms at a rate associated with sustained advances.

ETF inflows provide support after weeks of withdrawals

US spot Bitcoin ETFs recorded five consecutive sessions of net inflows, attracting about $727 million over the period, according to SoSoValue data.

The streak, the longest since early May, marked a shift from the persistent withdrawals that accompanied Bitcoin’s second-quarter decline.

Simon-Peter Massabni, head of business development at XS.com, told CryptoSlate that the renewed inflows have helped support Bitcoin after several previous recovery attempts lost momentum when ETF demand quickly faded.

Still, five positive sessions are not enough to establish that institutional investors have shifted from intermittent buying toward sustained accumulation.

The recent inflows also recover only a fraction of the capital that left crypto investment products during the preceding two months. Bitcoin and Ether funds recently ended eight weeks of combined outflows totaling about $9.46 billion.

Massabni said Bitcoin would need to attract capital at a faster pace and over a longer period to sustain the upward move and recover more of the ground lost during the recent selloff.

That leaves the rally's durability dependent on whether the current streak develops into materially stronger and more persistent demand.

Exchange withdrawals reduce selling pressure, but buying power remains weak

The improvement in ETF demand has been accompanied by a sharp withdrawal of Bitcoin from major exchanges, offering another source of near-term support for the price.

CryptoQuant data showed that about $686 million worth of Bitcoin left Binance, Bybit, Coinbase and HTX on July 20.

Per the data, Binance accounted for roughly $570 million of the total, its largest daily net outflow since April. Bybit recorded about $65 million in withdrawals, while Coinbase and HTX posted outflows of approximately $48 million and $3 million, respectively.

Moving Bitcoin away from exchanges can reduce the amount immediately available for sale, particularly when withdrawals occur across several trading platforms at the same time. If the coins remain outside exchange wallets, the decline in available supply could help limit short-term selling pressure.

However, CryptoQuant analyst Axel Adler said the one-day movement does not yet amount to evidence of sustained accumulation.

Bitcoin’s 30-day exchange net-flow indicator remains close to its baseline and continues to show a slight bias toward inflows. That means the July 20 withdrawals have not been large or persistent enough to reverse the broader trend.

Adler also noted that the deep and sustained exchange outflows associated with accumulation periods in 2023 and 2024 remain absent. As long as the indicator stays near or above its baseline, a substantial amount of Bitcoin remains on exchanges and available for sale.

Moreover, the buy side presents an additional constraint.

CryptoQuant’s 30-day moving average of stablecoin net flows has remained negative and recently dropped below -$100 million, indicating that dollar-pegged tokens are leaving exchanges faster than they are arriving.

Stablecoins represent much of the readily available capital traders use to purchase Bitcoin. Their continued withdrawal therefore weakens the market’s ability to absorb supply and support repeated advances.

That shortage of purchasing power may become more important as Bitcoin’s rebound puts recent buyers back into profit.

Data from Santiment shows that BTC's 30-day market-value-to-realized-value ratio has moved back above zero, meaning wallets that accumulated Bitcoin over the past month are, on average, holding unrealized gains.

The reading is not yet at levels normally associated with an overheated market. However, the shift above neutral removes some of the pressure that previously discouraged short-term holders from selling and increases the possibility of profit-taking if the recovery begins to lose momentum.

Taken together, the indicators show a market benefiting from lower immediate sell-side pressure while still lacking a comparable improvement in buying liquidity.

That imbalance could become more consequential if profitable short-term holders begin supplying coins back to the market before stablecoin inflows recover.

Oil disruption adds another test for Bitcoin’s recovery

The shortage of crypto-native buying power is not the only constraint facing Bitcoin. The renewed fighting in the Middle East is keeping oil supplies under pressure, raising the risk that another increase in energy prices could revive inflation concerns and restrict the broader liquidity available to risk assets.

On July 21, US Central Command said it completed another round of strikes against Iran late July 20, targeting military command centers, maritime capabilities, missile and drone launch sites and air-defense systems.

CENTCOM said the operation was aimed in part at reducing Iran’s ability to attack commercial vessels traveling through the Strait of Hormuz.

The strikes came as Iran continued its attacks against US and allied interests in the region. Iranian parliament speaker Mohammad Bagher Ghalibaf also signaled that Tehran remained skeptical of Washington’s stated interest in ending the conflict, suggesting that Iranian authorities were preparing for continued military pressure.

Still, diplomatic efforts are proceeding alongside those exchanges. Iran has reportedly received a mediator-backed proposal for a 10-day ceasefire with the United States, although fighting has continued and there is no indication yet that the proposal will produce a lasting agreement.

That leaves the Strait of Hormuz at the center of the market’s concerns. Although commercial vessels continue to transit the waterway, flows remain well below their pre-war levels, keeping a significant portion of Persian Gulf energy exports vulnerable to further disruption.

Oil markets have begun pricing these events as Brent crude fell about 2% to $88 a barrel as traders assessed the proposed ceasefire.

Goldman Sachs argued that Brent could climb above $120 a barrel in the fourth quarter if disruptions through the Strait of Hormuz persist and Persian Gulf supplies remain constrained.

The downside risk for Bitcoin is what a renewed oil surge could mean for inflation and monetary policy.

A prolonged energy shock would complicate the outlook for interest rates by raising transportation, production and consumer costs at a time when markets are already sensitive to inflation. Higher inflation expectations could keep government bond yields and borrowing costs elevated, reducing the pool of speculative capital available to Bitcoin and other risk assets.

That creates an additional hurdle for a Bitcoin market already showing limited stablecoin purchasing power.

While the latest rally may be benefiting from ETF inflows and reduced near-term exchange supply, another sustained rise in oil prices could make the external liquidity environment less supportive just as Bitcoin needs stronger demand to extend its recovery.

Bitcoin’s next test sits near $72,200

For now, Bitcoin remains inside what CryptoQuant analyst Axel Adler described as a transitional market range, bounded by an adjusted market cost basis near $57,700 and a recovery level around $72,200.

The move above $66,000 has pushed Bitcoin further away from the lower end of that range, but the asset would still need to gain roughly another 9% to reach the level Adler associates with a broader recovery.

However, getting there may require more than the conditions that supported the latest advance. ETF demand has returned, exchange withdrawals have reduced some immediate selling pressure, and short-term holders are back in profit.

Yet stablecoin flows continue to show limited purchasing power, while the threat of higher oil prices keeps the external liquidity backdrop uncertain.

That leaves the rally in a stronger position than it was earlier in July, but still without the combination of sustained capital inflows and improving macro conditions that would provide clearer confirmation of a lasting breakout.

The post Bitcoin’s $66,000 price breakout survives continued US-Iran escalation, but a bigger test looms appeared first on CryptoSlate.

Michael Saylor-led Strategy sold another $263.5 million of common stock last week, but the company used the fundraising to expand its cash reserve rather than add to its Bitcoin holdings.

According to a July 20 SEC filing, the Tysons Corner, Virginia-based company issued 2.73 million Class A shares between July 13 and July 19, while reporting no sales through any of its four preferred-stock offering programs.

The transactions lifted Strategy’s designated US dollar reserve by $225 million to $3.225 billion.

Strategy purchased no Bitcoin during the period, extending its buying pause to four consecutive weeks and leaving its holdings unchanged at 843,775 BTC.

The shift has also pushed its quarter-to-date Bitcoin performance measures into negative territory, as the number of common shares has risen without a corresponding increase in the company’s crypto balance.

STRC’s discount puts cash coverage first

The reserve buildup reflects Strategy’s effort to strengthen a preferred-stock business carrying about $1.76 billion in expected annual dividends and interest expense.

At roughly $3.2 billion, the reserve would cover about 22 months of those payments, well above the 12-month minimum set under a policy approved by the company’s board in June. The fund stood near $3 billion before last week’s common-stock sale.

Part of that cash is intended to support Stretch, or STRC, the flagship security in Strategy’s expanding preferred-stock lineup.

STRC has a stated value of $100 per share and currently pays a variable annual dividend of 12%. It has traded below that level since mid-May, recently hovering near $87 after falling to about $75 in late June.

A larger reserve gives preferred holders greater assurance that Strategy can continue meeting its obligations during Bitcoin downturns or periods when weak security prices make additional issuance expensive.

Dylan LeClair, a Bitcoin strategy executive at Japanese treasury company Metaplanet, said Strategy’s recent common-stock sales and cash accumulation were aimed at restoring that funding channel.

A recovery in the preferred securities could narrow credit spreads and return them to prices at which management is willing to issue more shares, reviving the capital-markets engine Strategy has used to finance Bitcoin purchases, he said.

Strategy’s BTC buying pattern breaks

The effort to repair Strategy’s preferred-stock financing channel has interrupted the Bitcoin accumulation cycle that made it the world’s largest corporate holder of the asset.

Data from the company showed that it last bought Bitcoin on June 22, acquiring 520 BTC for about $35 million at an average price of $67,068. At the time, the purchase lifted its holdings to 847,363 BTC.

However, Strategy reversed course the following week, selling 3,588 BTC for about $216 million between June 29 and July 5. The transaction reduced its holdings to 843,775 BTC, where they have remained.

The remaining position was acquired for about $63.7 billion, or an average of roughly $75,476 per Bitcoin. At recent market prices, the holdings were worth about $54 billion, leaving Strategy with an unrealized loss of more than $9.4 billion.

The company has now gone four weeks without a purchase, even as it continues to issue common shares and add to its dollar reserve. That marks an unusual break from a model in which proceeds raised from shareholders were often converted into Bitcoin soon after the financing closed.

Last week’s $263.5 million common-stock sale followed another issuance in the preceding reporting period that raised more than $460 million.

Together, the transactions increased Strategy’s share count while its Bitcoin holdings remained unchanged.

Strategy's key Bitcoin metrics turn negative

That trade-off is now evident in the proprietary measures Strategy uses to assess whether its financing activity increases common shareholders' Bitcoin exposure.

The company reported a quarter-to-date BTC Yield of -2.3% and a BTC Gain of -19,247 BTC. Its BTC-dollar gain for the quarter also fell to -$1.2 billion.

However, the corresponding year-to-date figures remained positive. Strategy reported a BTC Yield of 5.8%, a BTC Gain of 39,325 BTC, and a BTC dollar gain of roughly $2.5 billion, indicating that the deterioration has been concentrated in the current quarter.

BTC Yield measures the percentage change in the ratio between Strategy’s Bitcoin holdings and its assumed diluted shares outstanding. BTC Gain applies that change to the company’s Bitcoin balance, while BTC dollar gain converts the result into dollars using the prevailing market price.

The indicators are not accounting profits or conventional investment returns. They are intended to show whether Strategy’s capital-markets activity has increased or reduced the amount of Bitcoin attributable to each diluted share.

The ratio weakened after Strategy issued more than 7.5 million common shares across the past two weeks without adding to its Bitcoin holdings. The share count increased while the company’s crypto balance remained fixed at 843,775 BTC.

Supporters of Strategy’s model argue that the decline in the official metrics overstates the economic effect because the calculations do not fully capture the value of the cash added to the balance sheet.

Strategy-focused analyst Adam Livingston estimated that last week’s issuance was nearly neutral for existing shareholders when measured under the Common Equity Bitcoin Exposure (CEBE) metric.

Counting only the $225 million added to the designated reserve, Livingston calculated that common-equity Bitcoin exposure declined by about 0.074%. That represented a loss of roughly 107 satoshis per existing share, equivalent to about $25.7 million across the previous share base.

However, the result changed when he included all $263.5 million of net proceeds. Under that calculation, the transaction was about 0.036% accretive, adding roughly 52 satoshis per existing share.

According to him, the difference stems from $38.5 million of proceeds that did not appear in the reported increase to the designated reserve. Strategy did not disclose whether the funds remained elsewhere as cash, reflected settlement timing, covered expenses, or were allocated to another balance-sheet category.

Livingston estimated that Strategy needed about $250.9 million in economic value from the issuance to leave common-equity Bitcoin exposure unchanged. The full proceeds exceeded that threshold, while the amount assigned to the reserve fell below it.

Thus, he argued that his calculation leaves the transaction close to neutral under either approach, rather than showing the substantial dilution suggested by the decline in gross Bitcoin per share.

Still, this does not alter the direction of Strategy’s reported metrics. BTC Yield and BTC Gain weakened because the company issued common stock without increasing its Bitcoin balance, even though the new cash improved its ability to meet preferred dividends and debt interest.

Strategy has therefore strengthened the protection around its capital structure while sacrificing near-term Bitcoin-per-share growth.

Whether the quarterly decline reverses will depend on how quickly the company can restore its preferred-stock financing channel and redirect new capital toward Bitcoin purchases.

The post Strategy’s Bitcoin metrics go negative amid $3.2B cash – sells 7.5M shares but buys 0 BTC for 4 weeks appeared first on CryptoSlate.

XRP open interest is above $2.4 billion, about $125 million up over the last week, as traders rebuilt derivatives exposure beneath the token’s next price barrier.

XRP trades near $1.13, up 1.5% over 48 hours, with CoinGlass recording $1.98 billion in futures volume, $274 million in spot volume, and $2.53 million in liquidations. CoinGecko measured broader exchange turnover at $1.12 billion, a 63.5% daily increase, as the token moved between $1.08 and $1.12.

At $1.12, XRP sits about 5.5% below $1.18, the level that separates this recovery from a stronger price expansion. A recent technical assessment identified a daily close above $1.18 as the route toward the 50-day exponential moving average and the $1.26 shelf.

Derivatives are carrying the rebound

CoinGlass recorded futures volume at 7.2 times spot volume during the latest 24-hour window. That gives derivatives enough weight to amplify the next move once XRP exits its range. The limited liquidation total leaves most of the exposure untested by a directional move.

A same-day market snapshot put XRP funding at 0.0066%, requiring long holders to pay short holders. The reading shows a modest long bias, with funding still far below the levels that commonly precede a margin flush.

XRP gained 1.5% as turnover climbed 63.5%, and its seven-day advance reached 5.1%, compared with 4.6% for the global crypto market.

Buyers have increased participation, and the token still needs $1.18 to convert that activity into a confirmed escape from the range.

US-traded spot XRP funds took in nearly $6.8 million on July 16, with these products holding close to $1 billion in net assets and cumulative inflows near $1.5 billion.

That $6.78 million intake equaled less than 1% of XRP's latest daily exchange turnover, making it a secondary support layer beside the much larger spot market.

Regulated demand returned during the rebound, giving spot buyers another source of support as derivatives traders restored exposure.

What $1.18 decides

In the bull case, XRP closes above $1.18, keeps daily exchange turnover near or above $1 billion and preserves funding near neutral levels.

Open interest can climb under those conditions because price and spot participation would validate the added exposure, and a successful retest of $1.18 would then open the route toward $1.26.

Traders holding short positions beneath $1.18 would face losses as price advances, prompting voluntary exits or forced closures.

Their purchases would add momentum to spot buying, and the futures-heavy turnover mix could produce an overshoot before sellers rebuild offers near $1.26.

In the bear case, XRP rejects the $1.14 to $1.18 area and loses the $1.08 to $1.10 zone with open interest still near $2.4 billion.

The first warning would come from price falling alongside contracting open interest, which would show traders closing the positions they added during the rebound.

Liquidations would become more important once the market crosses clustered margin thresholds. A drop through $1.08 could turn voluntary position cuts into forced sales, sending open interest back toward the mid-July baseline.

The $1 level would then serve as the final nearby defense, with a daily close below parity reopening a deeper downside path.

XRP has stronger turnover, mildly positive funding, limited liquidations, and $125 million more open interest than it carried on July 14.

A close above $1.18 would show that spot buyers can absorb the extra derivatives exposure and extend the recovery. A rejection followed by a loss of $1.08 would expose the rebuilt positions to another reduction.

The next few days depend on whether demand reaches resistance before the derivatives stack becomes too large for the range holding it.

The post XRP’s $1.18 breakout line draws a $300 million surge in leveraged bets appeared first on CryptoSlate.

Brent crude futures reached $91.42 on July 20, their highest level since June 11, then eased to $88.28 as mediators floated a 10-day US-Iran ceasefire proposal.

Bitcoin traded above $65,000 earlier in the session, registering an intraday high at $65,666 and a low at $63,100. As of press time, Bitcoin has now reached $66,313, while Brent crude futures held near $90.

Bitcoin’s current behavior preserves the oil-inflation-rate relationship and assigns a short duration to the latest energy premium. Traders appear to expect diplomacy, restored tanker traffic or additional supply to pull Brent lower before the move forces a larger repricing in inflation, Treasury yields and Federal Reserve policy.

Oil enters consumer prices through gasoline, diesel, jet fuel and heating costs, then reaches freight, food and manufacturing through transport and power bills.

The first-round effect lands in headline inflation, and central banks focus on persistence because repeated energy costs can reach wages, services and inflation expectations, giving the shock a route into underlying inflation.

Federal Reserve research estimates that a persistent 10% real oil-price increase adds about 0.15% to US headline inflation over four quarters and 0.06 point to core inflation.

Using the Energy Information Administration’s (EIA) $85 June Brent average, the $91.42 high represented a 7.6% increase. A straight-line scaling of the Fed estimate produces an inflation impulse near 0.11 percentage point when oil holds that level for a year.

The calculation looks more threatening against the EIA’s July forecast for Brent to average $74 in the third quarter, as the July 20 high sat 23.5% above that baseline, which scales to roughly 0.35 percentage point of headline inflation under the same simplified method.

The Fed model uses a persistent real-price shock, so duration carries more policy weight than one intraday candle.

How oil reaches Bitcoin

The Fed’s July Monetary Policy Report described that energy costs helped push 12-month PCE inflation to 4.1% in May, with core PCE at 3.4%. Investors also priced in a higher federal funds rate path starting in 2026, lifting real interest rates and Treasury yields, while the FOMC has kept its target range at 3.5% to 3.75%.

This setup normally weighs on Bitcoin because cash and Treasury securities pay more when interest rates climb, and Bitcoin yields zero.

Higher real rates, a firmer dollar, and tighter financing reduce the compensation investors receive for owning volatile assets.

One study found Bitcoin fell 24 basis points for each one-standard-deviation inflation surprise, and a 2026 paper found hawkish Fed communication produced negative Bitcoin price responses.

Futures assigned the July 29 Fed meeting an 83.4% probability of steady rates and a 16.6% probability of a quarter-point increase. September pricing carried a 60.3% probability of at least one increase, showing a firmer medium-term path alongside limited urgency around July.

Bond and currency markets offered partial confirmation: the 10-year Treasury yield traded near 4.56%, up about 2 basis points, and the dollar index eased 0.1% to 100.69 in Asian trading.

Crypto demand supplied a second buffer as Farside Investors recorded a $424.7 million spot Bitcoin ETF outflow on July 13, then four positive sessions totaling over $500 million from July 14 through July 17.

Related Reading

Bitcoin ETF inflows return, but $2.3 billion stablecoin liquidity drain leaves $57,000 exposed

The split between improving Wall Street demand and weakening trading liquidity leaves $57,000 in view if support fails.

Jul 20, 2026 · Oluwapelumi Adejumo

The EIA’s July outlook forecasts Brent at $74 during the third quarter and $65 in 2027 as production, trade routes and inventories recover. The retreat from $91.42 toward $88 as ceasefire diplomacy surfaced shows how quickly a geopolitical premium can compress.

Reports tied the risk case to tanker incidents near the Strait of Hormuz, reduced traffic through a route that carries around 20% of global oil supplies, and a Houthi naval blockade threat against Saudi Arabia.

Each additional disruption can extend the shock and turn a temporary premium into a multiweek inflation input.

The $90 persistence test

In the bull case, diplomacy improves, tanker traffic recovers, and Brent retreats below $80 or toward the EIA’s $74 third-quarter average. The Fed keeps rates steady in July, September hike odds recede, the dollar loses ground, and ETF inflows stay positive.

Under those conditions, Bitcoin’s defense of the $65,000 area becomes a macro duration trade, and direct institutional demand supports it.

In the bear case, Brent averages above $90 for several weeks as shipping disruptions drain inventories and delay supply restoration. A two-year Treasury yield above roughly 4.30%, a dollar index above 101 to 102, and firmer Fed hike pricing would convert the energy shock into a financial-conditions shock.

Sustained ETF redemptions would remove Bitcoin’s clearest local support, exposing $65,000 to the full oil-inflation-rate chain.

Persistence converts an oil shock into a rate shock: Bitcoin can absorb a $91.42 intraday Brent high when traders expect diplomacy, supply recovery and ETF buying to contain the macro effect. A multiweek Brent average above $90 plus higher short-term yields and a stronger dollar would remove that protection.

Holding $65,000 through that package would constitute genuinely unusual resilience. For now, Bitcoin is pricing the oil shock’s expiration date.

The post Oil is back near $90, so why is Bitcoin still above $66,000? appeared first on CryptoSlate.

US gross federal debt reached $39.489 trillion on July 15, leaving roughly $511 billion before the $40 trillion threshold, and this debt total strengthens Bitcoin's fixed-supply argument.

Treasury currently expects to borrow $671 billion in privately held net marketable debt during the July-to-September quarter, with the estimate built on a $950 billion end-of-September cash balance.

On Aug. 3, the department will revise the third-quarter figure and publish its first estimate for October through December, setting the expected borrowing total.

The full quarterly refunding package arrives Aug. 5 with auction and financing details, showing how Treasury plans to distribute financing across bills, notes, bonds, floating-rate notes and inflation-protected securities.

A larger total can increase the volume private investors must absorb, and a heavier coupon mix can place more duration risk into the market.

The $39.489 trillion total records obligations already outstanding, and the borrowing estimate maps the government's next funding requirement. Gross debt also reflects maturities, intragovernmental flows, cash movements and Federal Reserve portfolio effects, which prevents a one-for-one mapping from the $671 billion estimate to the debt total.

Treasury supply reaches Bitcoin through yields

An upward borrowing revision can require investors to absorb more government securities. Buyers may demand higher yields, or they may fund purchases with cash drawn from deposits and other assets.

Federal Reserve research published in May found that a one-percentage-point increase in expected US debt relative to GDP adds about 2 to 3 basis points to the 10-year Treasury term premium.

Higher Treasury returns increase the opportunity cost of holding Bitcoin because BTC pays a zero coupon, and a firmer dollar can add another constraint by making dollar liquidity more expensive across global markets.

Bitcoin entered the week near $65,000 with the 10-year Treasury yield around 4.60%, with reports noting that oil-linked inflation fears lifted the benchmark yield to 4.6% on July 20.

The latest official Federal Reserve close put the two-year yield at 4.16%, the 10-year at 4.57% and the 30-year at 5.09% on July 16. Those levels already offer investors a large contractual return across the curve, leaving Bitcoin more sensitive to any early-August yield increase.

As of press time, Bitcoin has reached $66,190, its highest price since June 17.

The Treasury General Account held nearly $795.98 billion on July 15, about $154 billion below the current $950 billion quarter-end assumption. Reaching that target through borrowing would accumulate additional cash in the Treasury's Federal Reserve account before government spending returns it to the banking system.

The funding source will shape the market effect because bills can draw on money-market cash, and longer-duration securities can draw on bank deposits or asset sales.

The Federal Reserve reported near-zero overnight reverse-repurchase usage on most days and about $3.1 trillion in reserves during the first half of 2026, reducing the stock of idle facility cash available to absorb bill issuance.

Bitcoin also has a direct demand buffer, with US-traded spot Bitcoin ETFs taking in a combined $500.2 million across four positive sessions from July 14 through July 17, reversing a $424.7 million outflow on July 13.

Continued fund demand could absorb part of the macro drag created by a higher borrowing estimate.

The early-August thresholds

In the bull case, Treasury keeps the third-quarter estimate at or below $671 billion, leaves the $950 billion cash target intact, and publishes a fourth-quarter requirement below market expectations.

A financing package that preserves demand across the curve could pull the 10-year yield lower and weaken the dollar.

Positive Bitcoin ETF flows would give BTC a direct source of demand, allowing the $65,000 area to hold and the debt milestone to reinforce the scarcity thesis.

In the bear case, Treasury raises the third-quarter estimate, publishes a large fourth-quarter requirement, or increases the cash target. Larger coupon auction sizes on Aug. 5 could push term premiums and long yields higher, especially if investors demand more compensation for duration.

A stronger dollar and ETF redemptions would remove two supports from Bitcoin, exposing the rebound to a break below its recent range.

The Congressional Budget Office projects a $1.9 trillion federal deficit for fiscal 2026 and publicly held federal debt at 120% of GDP by 2036. Those figures sustain Bitcoin's long-horizon scarcity argument and set up repeated Treasury financing tests across future quarters.

Aug. 3 turns that long-run thesis into a near-term market event by connecting the debt record to the cost of financing it through yields, cash absorption and the dollar.

Bitcoin's defense of $65,000 will carry more weight if it survives a larger borrowing estimate and a higher Treasury curve.

The post Bitcoin breaks $66k as US debt hits $39.5 trillion creating Bitcoin’s next liquidity test for August 3 appeared first on CryptoSlate.

The crypto market has flipped green again. After weeks of Extreme Fear and a bruising sell-off, the total market capitalization has climbed back above $2.2 trillion, gaining roughly 1.7% in the last 24 hours. Bitcoin reclaimed the $65,000 threshold, rising 0.77%, while Ethereum surpassed $1,900 with a 1.54% gain. Most majors are participating, with $XRP, $Solana, and $TRON all posting modest advances alongside the two market leaders. 

So what's actually behind the move? Let's break it down.

Why is the crypto market up today?

The single biggest catalyst is a shift in inflation expectations. Market concerns over a potential resurgence in inflation are gradually subsiding, and this cooling has lifted both Bitcoin and Ethereum back above key levels. Crucially, this is happening despite ongoing geopolitical tension: crude oil prices have cooled even with the situation in the Middle East, which has helped fade fears of a second inflation wave. 

Since oil feeds directly into headline inflation, easing crude removes one of the market's biggest overhangs. Lower inflation pressure means the Federal Reserve has less reason to stay hawkish, and that improved macro backdrop is exactly the kind of environment where risk assets like crypto tend to perform.

Are institutions buying again?

Yes, and this is the structural part of the story. U.S. spot Bitcoin and Ethereum ETFs have reported consecutive net inflows, underscoring sustained institutional demand and renewed confidence despite lingering macroeconomic uncertainty. The disappearance of institutional demand was a major driver of the earlier correction, so its return is one of the more meaningful signals beneath today's price action.

Investor sentiment has shifted as both safe-haven and risk-tolerant capital flowed into liquid crypto assets — a sign that money is rotating back into the space rather than fleeing it.

Is this rally sustainable?

That's the key question. Sentiment has recovered from June's Extreme Fear lows but remains fragile, and the broader market still sits well below where it started 2026. For the move to hold, Bitcoin needs to defend the $65K–$66K zone as support rather than treat it as a ceiling, and ETF inflows need to stay consistent. Traders are also watching upcoming Fed signals and pending U.S. crypto legislation, including the CLARITY Act, as the next potential catalysts.

For now, the setup looks constructive: cooling inflation fears, returning institutional flows, and broad participation across majors rather than a single-coin bounce.

Want to trade the majors as sentiment turns? You can buy and hold crypto directly on Bitpanda using code CRYPTOTICKER.

Russia's push to bring digital assets into international commerce is moving forward, though not as quickly as first planned. After passing its first reading back in April, the government's crypto bill has been revised and cleared for its next stage. Russia's State Duma committee has approved a revised cryptocurrency regulation bill for its second reading, removing a proposed requirement to declare crypto wallet addresses while adding provisions for crypto-funded investments and new transfer controls.

The headline feature for businesses is unchanged: crypto stays banned for domestic payments but is permitted for cross-border trade. Meanwhile, Bitcoin is flashing strength of its own, closing above key long-term support for a third straight week. Below, we cover both the regulatory update and what the BTC chart is signaling.

Where does Russia's crypto bill actually stand right now?

It has passed one of three required readings. The bill, formally titled "On Digital Currency and Digital Rights," passed its first reading with 327 of 340 deputies voting in favor. Since then it has been reworked. Russia's Financial Markets Committee approved the revised bill for its second reading, with Chairman Anatoly Aksakov saying the proposal removes wallet address reporting while strengthening legal protections for crypto owners.

Importantly, the second-reading floor vote hasn't taken place yet. The committee endorsement was announced through Aksakov's Telegram channel, and records on the State Duma website had not yet been updated since the bill cleared its first reading in April. Two Duma readings, Federation Council approval, and a presidential signature are still required before it becomes law.

What changed in the revised bill?

Several things. The updated draft no longer requires cryptocurrency holders to declare wallet addresses; instead, users would only need to report wallet balances and transaction volumes. Aksakov said the revision is intended to reduce the risk of sensitive information being exposed in ways that could be used against Russia.

New investment and control provisions were also added. Investors would be allowed to purchase Russian securities and Digital Financial Assets using cryptocurrencies, and licensed Russian brokers and asset managers could eventually gain access to approved foreign crypto exchanges, subject to additional conditions. Retail investment limits remain unchanged, while the bill introduces a new provision allowing authorities to delay certain large outbound crypto transfers for up to two days. The retail cap holds at 300,000 rubles annually.

Why does the cross-border trade angle matter?

Because it hands Russian companies a settlement route outside sanctioned banking channels. The bill maintains crypto's ban for domestic payments while carving out its use in foreign trade and, in the revised text, covering investor eligibility, consumer protections, cross-border crypto transactions, and the use of digital assets in Russia's financial markets. The scale is significant: Russian exporters and importers moving goods across an estimated $240 billion in trade volume and facing payment friction would gain a legal pathway to settle contracts in cryptocurrency.

Only major assets are expected to qualify. Only cryptocurrencies with market caps above 5 trillion rubles (around $66.6 billion) and a five-year trading history would be eligible, with Bitcoin and Ethereum the expected first approvals.

When will the law take effect?

Later than originally targeted. Finance ministry official Alexey Yakovlev told Interfax the bill is largely ready but unlikely to be adopted by the initial July 1, 2026 target, having been sent back for committee review before its second reading. No firm replacement date has been confirmed, so the timeline now hinges on how quickly the remaining readings and approvals proceed.

Bitcoin Price Analysis: Why s Bitcoin Price UP?

Bitcoin just delivered its highest weekly close in five weeks. More notably, $BTC closed above its 200-week moving average support for the third consecutive week — resilience that stands out given the Nasdaq 100 fell more than 4% over the same period. That divergence from tech equities at a major support zone is exactly what bulls want to see.

The technical picture is constructive. The MACD has turned bullish, the RSI bullish divergence remains valid, and the Stochastic RSI is showing positive momentum. The bullish engulfing candle from three weeks ago is also still holding — a pattern that has appeared three times this cycle, each time followed by a strong rally.

Which Bitcoin levels matter most?

The map is clean on both sides. Resistance sits at $67,000, then $83,000. Support sits at $58,000, then $49,000.

Two scenarios stand out. If BTC holds above $58K, it could break toward $67K and then $83K. If instead BTC closes below $58K on the weekly chart, the next meaningful support is around $49K. With price currently trading near $64K, the $58K weekly close is the line in the sand to watch.

Memecoins Sold for Profit: What Tax Rules Apply to Small Coins

Memecoins like Dogecoin, Shiba Inu, Pepe, or Bonk can experience significant price fluctuations in a short period. Those who invest early and sell after a strong increase may achieve a high profit. However, the same tax rules that apply to more well-known cryptocurrencies generally apply to memecoins as well.

It does not matter whether a coin has a high market value, is only trending for a short time, or was originally created as an internet joke. What matters most are the acquisition date, the sale date, and the total profit realized.

Memecoins are Taxed as Cryptocurrencies

The Federal Ministry of Finance treats cryptocurrencies in private assets as so-called other economic goods. This includes not only Bitcoin and Ether but also smaller altcoins and memecoins.

If an individual sells a memecoin for a profit within one year of purchase, it may be considered a private sale transaction under § 23 of the Income Tax Act. The tax name or technical design of the coin is usually less important than whether it was acquired and later sold.

Therefore, the basic tax rules also apply to coins that have a low market capitalization or are traded on decentralized trading platforms.

The One-Year Holding Period is Crucial

For privately held cryptocurrencies, there is generally a holding period of one year. If more than twelve months pass between acquisition and sale, any profit made is usually tax-free under current law. However, if the sale occurs within one year, it must be determined whether the profit is taxable.

Example:

An investor buys memecoins for 2,000 euros on January 10. On June 1 of the same year, he sells the coins for 7,000 euros. The profit, before considering any possible fees, is 5,000 euros. Since less than a year has passed between the purchase and sale, the transaction generally falls under the category of private sale transactions. If the sale were to occur after the one-year holding period, the profit would generally be tax-free in private assets.

Not Just Sales in Euros Matter

Many investors assume that only the payout to their bank account is tax-relevant. However, this is a common misconception. A disposal can not only refer to the sale of a memecoin for euros. Exchanging it for another cryptocurrency can also be treated as a sale for tax purposes.

Tax-relevant transactions can include:

• Selling memecoin for euros
• Exchanging memecoin for Bitcoin
• Exchanging memecoin for Ether
• Exchanging memecoin for a stablecoin like USDT or USDC
• Using memecoin for goods or services

For example, if someone exchanges Dogecoin for a profit in USDT, they realize the profit at the time of the exchange. The fact that the stablecoins remain on the crypto exchange afterward does not prevent potential tax liability. The Federal Ministry of Finance clarifies that exchanging one cryptocurrency for another is generally considered a disposal of the cryptocurrency given and an acquisition of the cryptocurrency received.

The Exemption Limit is 1,000 Euros

For profits from private disposals, there is an annual exemption limit of 1,000 euros. This is not a tax allowance. If the total profit from all private disposals in the calendar year remains below 1,000 euros, it remains tax-free. If the limit is reached or exceeded, the entire taxable profit can be assessed.

Not only individual memecoin sales are considered. The total profit from all private disposals in the relevant calendar year is generally what matters. In addition to various cryptocurrencies, other private disposals may also be included in the calculation under certain conditions. Therefore, investors should not consider each coin in isolation. The statutory exemption limit of 1,000 euros is derived from § 23 of the Income Tax Act.

Example of the Exemption Limit

An investor achieves the following results within a year:

• 700 euros profit with Dogecoin
• 450 euros profit with Pepe
• 200 euros loss with Shiba Inu

The total profit amounts to 950 euros. If there are no other relevant private disposals, the total profit remains below the exemption limit of 1,000 euros. However, if a total profit of 1,050 euros is generated, not only the amount above 1,000 euros is taxable. In principle, the entire profit of 1,050 euros can be tax-relevant.

How is the profit calculated?

The taxable profit is simply derived from the difference between the sale proceeds and the acquisition costs. Fees directly related to the transaction can also play a role in the calculation.

Simplified formula:

• Sale price
• minus acquisition costs
• minus deductible transaction costs
• equals taxable profit or loss

If an investor buys memecoins for 1,500 euros and later sells them for 4,000 euros, there is initially a profit of 2,500 euros. Fees for buying and selling can accordingly change the taxable result. The calculation becomes more complicated when coins are purchased in multiple partial transactions at different prices and later sold only partially.

Multiple purchases complicate allocation

Memecoins are often bought in several tranches. For example, investors may initially invest a small amount, buy more after a price drop, and later sell only a portion of their holdings.

It must then be clear which coins are considered sold and which acquisition costs and holding periods are assigned to those coins. The BMF letter on cryptocurrencies contains guidelines for determining and documenting such transactions. Depending on the case, individual assessments or simplified allocation methods may be relevant. It is especially important that the chosen and used calculation is documented in a traceable and consistent manner.

Those who hold the same memecoins on multiple exchanges and wallets should not mix their holdings without verification. Transfers between one's own wallets are generally not considered sales but must be documented to avoid being mistakenly classified as taxable transactions.

Losses from memecoin sales can be relevant

Not every memecoin increases in value. Many projects lose a significant portion of their market capitalization shortly after launch or are hardly traded anymore. If a memecoin is sold or exchanged at a loss within the one-year holding period, a tax-deductible loss from a private sale may arise.

Such losses can generally be offset against profits from other private sales. However, free offsetting against wages, business income, or capital gains is generally not possible. If losses remain, a loss carryback or loss carryforward may be applicable under legal conditions within this type of income. However, a mere price loss is not sufficient. As long as the coins are merely sitting in the wallet and have not been sold, the loss is generally not realized for tax purposes.

Worthless coins are a special case

Memecoins that have become practically worthless or can no longer be traded are particularly challenging. This applies, for example, after a rug pull, project abandonment, or removal of the token from trading platforms.

An economic total loss does not automatically lead to the tax office accepting a tax-deductible loss. It is often crucial whether there is actually a verifiable sale or another tax-relevant realization event. Sales at a very low price, token swaps, abandoned projects, and technically inaccessible coins should therefore be examined individually. Especially for larger amounts, tax advice may be advisable.

Airdrops and gifted memecoins require special examination

Memecoins do not always enter the wallet through a traditional purchase. Some investors receive coins through airdrops, promotions, community rewards, or free token distributions. In such cases, the tax treatment cannot be assessed solely based on the rules for a normal purchase. It must be examined, among other things, whether taxable income arose at the time of receipt and what value can later be set as acquisition costs.

The start of the holding period may also depend on the specific circumstances. Therefore, investors should document when and for what reason they received the coins and what market value they had at that time.

Commercial trading may be taxed differently

The rules described primarily apply to occasional sales from private assets. In cases of extensive, systematic, and permanently profit-oriented activities, a commercial activity may exist. A high number of trades alone does not automatically lead to a business operation. The overall picture of the activity is always decisive.

A commercial classification can have significant consequences. These include, among other things, different profit determination rules, potential trade tax, and the loss of tax-free sales after the one-year holding period. Those who operate automated trading systems, manage third-party capital, consistently act like a professional trader, or additionally offer extensive services related to trading should have their classification examined early.

What documents investors should secure

With memecoins, complete documentation is particularly important. Small coins are often traded on multiple exchanges, through decentralized platforms, or directly via wallets. Some projects or trading venues disappear shortly after launch.

Therefore, investors should secure the following as soon as possible:

• Date and time of each purchase
• Number of coins purchased
• Purchase price in euros
• Cryptocurrency used in an exchange
• Date and value of each sale or exchange
• Transaction and network fees
• Exchange statements and CSV files
• Wallet addresses and transaction hashes
• Proof of transfers between own wallets
• Information on airdrops or gifted coins
• Exchange rates and price sources used

Screenshots alone are often not sufficient but can be helpful as a supplement. Complete transaction histories, blockchain data, and traceable calculations are better. The BMF explicitly emphasizes the obligations to cooperate and record income from cryptocurrencies in its letter from 2025.

Small coins do not automatically mean small tax amounts

The term memecoin can be misleading, as it can lead to significant taxable amounts. Early buyers can achieve profits that are significantly above the exemption limit during strong price increases. The tax office does not fundamentally distinguish whether a project is serious, technically innovative, or merely temporarily popular. Profits from speculative coins can also be taxable. Therefore, investors should check before selling when the coins were acquired and what tax consequences a sale or exchange could trigger.

Conclusion

For memecoins, the same tax rules generally apply in private assets as for other cryptocurrencies. If the sale or exchange occurs within one year after purchase, the profit may be taxable. After the one-year holding period, the profit is generally tax-free under current law.

Moreover, exchanging for Bitcoin, Ether, or stablecoins can already be considered a sale. Additionally, investors must observe the annual exemption limit of 1,000 euros for all private sales.

Especially for small and short-term traded coins, comprehensive documentation is crucial. Exchanges can close, tokens can disappear, and historical price data can sometimes be difficult to obtain. Those who secure purchases, sales, fees, and wallet transfers early can make their later tax return significantly easier and more traceable.

Bitcoin just went through one of its roughest stretches in years. After starting 2026 above $93,000, BTC bled through the first half of the year and dropped roughly 20% in June alone, sliding to around $58,000 on July 1 — its lowest level in more than 21 months. It even closed a full week below its 200-week moving average for the first time in about four years, a line that has historically only broken during deep bear phases.

So why is anyone talking about altcoins right now? Because the market has since steadied, with $BTC clawing back toward the $60,000–$65,000 zone, and because July has historically been one of Bitcoin's stronger months — green in 9 of the last 13 years with an average return north of 7%. If that seasonal pattern plays out and Bitcoin turns its recent low into support, capital tends to rotate down the risk curve into altcoins. That's where the bigger percentage gains usually show up.

This article focuses on five altcoins that fit three strict filters: a market cap under $2 billion (room to grow), a price under $10 (no psychological "too expensive" barrier), and genuine, demonstrable utility (not just hype). Every price and market cap below reflects early-July 2026 levels and will move — treat them as a snapshot, not a promise.

A necessary reality check first: this is a conditional setup, not a confirmed bull run. Bitcoin is still trading below major moving averages, spot ETFs saw record outflows in June, and several banks have cut their targets. Small-cap altcoins fall harder than Bitcoin when the market turns risk-off. Everything below assumes the recovery continues — if BTC loses its recent lows instead, these coins would likely drop faster than the market. Position accordingly.

Why do altcoins sometimes outperform Bitcoin?

When Bitcoin is falling or uncertain, money hides in BTC or leaves crypto entirely. But when Bitcoin stabilizes and confidence returns, traders start hunting for higher returns, and that capital flows into altcoins. Because these projects have far smaller market caps than Bitcoin, a relatively small amount of new money can move their prices sharply — the same dynamic that makes them fall harder on the way down. This rotation is what people mean by "altseason," and it typically favors coins with real usage and a clear story, not just the biggest names.

1. Render (RENDER) — decentralized GPU power for the AI boom

• Price: ~$1.48
• Market cap: ~$768 million
• Sector: AI / decentralized compute (DePIN)

Render connects people who need heavy graphics and AI computing power with those who have spare GPUs to rent out. As demand for AI training and rendering explodes, decentralized compute networks are one of the clearest "picks and shovels" plays in crypto. Render recently expanded its network capacity significantly through a governance proposal that added tens of thousands of GPUs via a new subnet, directly boosting what the network can handle. With AI infrastructure being one of the hottest narratives heading into the second half of 2026, Render sits right in the middle of it — and at under $1B, it has room to run if that theme keeps attracting capital.

2. Ondo (ONDO) — bringing real-world assets on-chain

• Price: ~$0.35
• Market cap: ~$1.7 billion
• Sector: Real-world asset (RWA) tokenization

Ondo is a leader in tokenizing real-world assets — think U.S. Treasuries, stocks, and ETFs turned into on-chain tokens. It has built serious institutional credibility, with partnerships and pilots involving names like BlackRock, JPMorgan, and Mastercard, and its platform now spans hundreds of tokenized equities. RWA is widely seen as one of the most durable long-term narratives in crypto because it connects blockchain to trillions of dollars in traditional finance. The one thing to watch: Ondo has significant token unlocks scheduled through 2028, which can add selling pressure even when fundamentals are strong.

3. Injective (INJ) — the finance-focused Layer 1

• Price: ~$5.03
• Market cap: ~$504 million
• Sector: DeFi Layer-1 blockchain

Injective is a blockchain built specifically for financial applications — decentralized exchanges, derivatives, prediction markets, and lending. It offers fast, low-cost transactions and a fully on-chain order book, and it's interoperable with major chains like $Ethereum and $Solana. With one of the smaller market caps on this list (under $500M) but a mature, working ecosystem and over a billion transactions processed, Injective is the kind of established-but-undervalued project that can move fast if DeFi activity picks back up in a recovery.

👉 Compare the best exchanges to buy INJ and other altcoins in our broker comparison.

4. Kaspa (KAS) — one of the fastest proof-of-work networks

• Price: ~$0.027
• Market cap: ~$766 million
• Sector: Layer-1 (proof-of-work, now programmable)

Kaspa is a proof-of-work Layer 1 built on its GHOSTDAG protocol, designed for extremely fast block times and high throughput. Its big recent catalyst is the Toccata hard fork (activated June 30, 2026), which added native smart contracts and token support — transforming Kaspa from a pure payments chain into a programmable one. That upgrade opens the door to a whole new wave of apps and developer activity. Kaspa also had a fair launch with no pre-mine and its emissions are winding down toward zero, which reduces future dilution — a rare structural positive among small-caps.

5. XTB-listed majors as your recovery anchor

• Sector: Diversified exposure

Not every allocation in a recovery needs to be a small-cap moonshot. Pairing the higher-risk picks above with exposure to established assets — and using a regulated platform — is how experienced traders manage the downside if the recovery stalls. If you want to trade crypto-related instruments alongside stocks and ETFs on a regulated, MiCA-era-compliant broker, XTB is one option worth reviewing.

👉 Trade on a regulated platform: Open an account with XTB.

Which altcoin is the best buy in July 2026?

There's no single "best" — it depends on which narrative you believe in most. If you're betting on AI, Render is the cleanest exposure. If you want the most durable long-term story, Ondo and RWA lead. If you want a small, established DeFi network with room to grow, Injective stands out. And if you're drawn to a freshly upgraded, fair-launched Layer 1, Kaspa just became a lot more interesting. The smart move for most people is diversification across narratives rather than betting everything on one coin.

Crypto is closing the week in cautious green after a whipsaw few days. A softer-than-expected inflation print early in the week pushed Bitcoin briefly above $65,000 and Ethereum over $1,900, before a sixth straight day of U.S. airstrikes against Iran pulled risk assets back down. As of now, the majors are holding modest weekly gains, but the market remains firmly below where it started 2026.

Here's what moved this week and what to watch next.

Where are crypto prices right now?

As of this weekend, here's the snapshot for the majors:

• Bitcoin ($BTC): ~$64,300, up roughly 3.3% on the week but still down around 27% year-to-date
• Ethereum ($ETH): ~$1,860, the standout performer of 2026 with a positive YTD near +40% while the rest of the majors sit in the red
• $XRP: ~$1.14, the most muted weekly move among the majors, holding just above the $1 support level
• Solana ($SOL): leading the majors on the week with gains near +5%, trying to reclaim its previous trading range
• $BNB: ~$610, up over 1% on the day

Bitcoin dominance sits around 57%, and total 24-hour market volume is hovering near $36 billion. Sentiment has recovered from June's "Extreme Fear" lows but remains fragile.

What drove the market this week?

Three forces defined the week. First, a softer inflation report early in the week reignited hopes of a less hawkish Fed, sparking the mid-week surge that briefly took Bitcoin over $65K. Second, geopolitics reasserted itself — a sixth day of U.S. airstrikes against Iran, with the Strait of Hormuz effectively closed and oil prices climbing, dampened appetite for risk-based assets like crypto. Third, ETF flows kept whipsawing: after June's record $4.5 billion in net outflows — the worst month on record for U.S. spot Bitcoin ETFs — early July saw flows partially reverse, and the market is watching closely for the first sustained "consecutive net inflow week" that many analysts see as the signal to re-engage.

Ethereum continued to quietly outperform. Analysts point to ETH's historical tendency to lead broader crypto recoveries, and its technical setup — having reclaimed key moving averages while pressing toward 100-day EMA resistance near $1,944 — looks stronger than Bitcoin's right now.

Why is Bitcoin still underperforming?

The short version: Bitcoin's 2026 pain hasn't come from crypto fundamentals — it's come from flows and macro. ETF outflows removed a large structural source of demand, a hawkish Fed under Chair Kevin Warsh kept the dollar firm, and capital rotated into AI stocks for much of the year. Warsh's June meeting delivered an unambiguously hawkish message, with the dot plot now pointing toward a possible hike in 2026 rather than a cut. Until ETF flows turn durably positive, Bitcoin's biggest structural bid remains a swing factor rather than a tailwind.

What to expect next week

The calendar is dominated by one event: the Federal Reserve's July 28–29 FOMC meeting. Markets are now pricing a meaningful probability of a rate hike, a stark shift from the rate-cut expectations that carried into the year. This meeting is widely viewed as the decider for whether the recent bottom holds or another leg lower opens up.

Key things to watch:

• The Fed meeting (July 28–29): the single biggest catalyst. A hawkish hold or hike keeps the dollar elevated and pressures crypto; any dovish surprise could be the relief catalyst risk assets are waiting for.
• ETF flows: watch for a sustained multi-day inflow streak — that's the signal many institutions want before re-engaging.
• Key Bitcoin levels: support around $58,000 and resistance near $63,800–$65,000. Holding above $61,000 keeps the recovery case alive; a clean break above the 100-day EMA opens the door toward the $68,000–$70,000 zone.
• Ethereum: a break above ~$1,944 resistance would confirm ETH's leadership narrative.
• Geopolitics: developments around Iran and the Strait of Hormuz remain a live risk-off wildcard that can override the technical picture at any time.

Expect range-bound, headline-driven trading in

The crypto firm's initiative arrives as researchers, exchanges, and the U.S. government warn that "Q-Day" may land as soon as 2030.

Odds of the Clarity Act passing in 2026 jumped to 42% after a surprising new development from the White House.

Islamabad is building the enforcement side of its crypto push, standing up a unit to police money laundering even as it licenses exchanges.

The asset manager's S-1 for a spot WLD fund would be the first U.S. ETF tied to Sam Altman's biometric crypto project.

A cross-party group is examining why UK banks block accounts and payments for crypto firms—and whether it's holding the sector back.

The truth about Bitcoin after new BTC stops being minted revealed.

Bitcoin's quantum discount hits a record 30%, XRP's MVRV turns positive after the rebound, and a new whale pulls $2.76 million in SHIB off Coinbase.

XRP's biggest holders are barely sending tokens back to exchanges as Binance inflows appear to be drying up while sentiment flips bullish.

Dogecoin co-founder says DOGE merge mining should stay put.

Shiba Inu saw a deceleration in sales activity on the market, seeing stronger implications for a retrace.

Key Highlights

• Archer Aviation shares surged 20% Monday and extended gains Tuesday, hitting $5.40 per share following a significant defense collaboration announcement
• The company partnered with Anduril Industries to introduce “Thunder,” an autonomous vertical takeoff and landing aircraft targeting defense and commercial sectors
• Thunder’s initial commercial partners are scheduled to be revealed later this week
• Wall Street analysts continue to rate the stock favorably with consensus price targets near $10.50, despite a 55% decline over the past twelve months
• Next earnings release scheduled for August 10, 2026, with projections showing a 25-cent per share loss and $1.99 million in revenue

Archer Aviation shares continued their impressive run Tuesday, building on momentum from Monday’s substantial gains. The stock added 1.69% in premarket trading, hovering near $5.40 following the previous session’s nearly 20% surge.

Archer Aviation Inc., ACHR

The catalyst behind this rally stems from Archer’s strategic alliance with Anduril Industries. The partnership resulted in the introduction of “Thunder,” an innovative autonomous vertical takeoff and landing system engineered for dual military and commercial deployment.

Thunder features electric propulsion technology integrated with a sophisticated rotor architecture. The aircraft is positioned to deliver enhanced speed, extended range, and superior payload capabilities versus current alternatives in the market.

Management confirmed that Thunder’s inaugural commercial partnerships will be disclosed before week’s end, indicating the platform has already attracted interest from prospective customers.

Strategic Expansion Into Defense Sector

This collaboration marks a pivotal strategic shift for Archer, extending its reach far beyond the urban air mobility market. Entry into defense applications provides access to a substantially larger total addressable market.

Anduril contributes cutting-edge autonomous systems technology and expertise. Meanwhile, Archer provides its proven electric aviation innovations and established production infrastructure.

This strategic alignment delivers exactly what market participants have been anticipating from Archer. Expanding into defense applications could accelerate the company’s pathway to profitability significantly.

Wall Street Response and Technical Outlook

S&P 500 futures advanced 0.5% Tuesday morning, creating favorable conditions for equity rallies. Nevertheless, the broader market’s strength doesn’t fully explain Archer’s exceptional performance.

The Thunder platform revelation directly triggered renewed investor enthusiasm. Market analysts recognize the defense sector as an avenue for accelerated commercialization timelines.

Archer’s shares presently trade 10.3% above the 20-day moving average of $4.89. Conversely, the stock remains 3.5% beneath its 50-day moving average of $5.59.

Momentum indicators show neutral positioning with the Relative Strength Index registering 53.61. Critical resistance levels emerge around $5.50, while support is established near $5.00.

Throughout the trailing twelve-month period, Archer has retreated 55%. Shares continue trading significantly below the 52-week peak of $14.62 reached earlier this year.

Future Outlook and Analyst Perspectives

The company’s next earnings announcement is scheduled for August 10, 2026. Wall Street consensus forecasts a 25-cent per share loss, representing improvement from the previous year’s 36-cent deficit.

Revenue expectations stand at $1.99 million for the reporting period. This projection would mark the company’s initial revenue generation compared to zero sales in the comparable prior period.

Analyst sentiment includes four Buy ratings, two Hold recommendations, and one Sell rating. The average price target reaches $11.83, suggesting approximately 120% potential upside from present trading levels.

Canaccord Genuity adjusted its price objective to $12.00 while preserving its Buy recommendation. Needham continues its Buy stance with a $10.00 target price.

Company leadership has reconfirmed its objective to secure aircraft certification by 2028. Management characterizes this schedule as aggressive yet attainable based on current development milestones.

The post Archer Aviation (ACHR) Stock Surges 20% After Announcing Thunder Defense Aircraft with Anduril appeared first on Blockonomi.

Key Highlights

• JTX debuts on Solana today, bringing professional trading capabilities and self-custodial features

• Jito unveils JTX platform to provide institutional-grade DeFi trading infrastructure for Solana

• Platform enables trading of tokenized assets, SOL, memecoins, and various Solana-based markets

• JTX introduces sophisticated order execution capabilities to Solana’s expanding DeFi landscape

• Jito enhances Solana trading infrastructure with JTX launch and innovative fee distribution mechanism

Jito has unveiled JTX, a self-custodial exchange platform developed on Solana’s blockchain infrastructure to enable sophisticated onchain trading activities. The new platform delivers professional-grade order management tools while maintaining user control over assets through self-custodial architecture. JTX facilitates spot market trading for various Solana-based assets, real-world tokenized products, and additional digital marketplaces.

JTX Delivers Professional Trading Infrastructure to Solana Ecosystem

Jito unveiled JTX as an exchange platform connecting market participants with the execution infrastructure that drives Solana network activity. The system provides limit order functionality, automated trade execution, and conditional trading capabilities for market participants. JTX enables direct access to onchain settlement mechanisms without dependence on centralized custodial intermediaries.

The platform launch responds to increasing market demand for sophisticated trading capabilities across decentralized financial markets. Solana has experienced growing activity from tokenized products, stablecoins, and decentralized protocol deployments. Nevertheless, numerous trading interfaces have failed to replicate the functionality found on centralized exchange platforms.

JTX facilitates trading of Solana-native assets, encompassing SOL, cbBTC, HYPE, memecoin tokens, and tokenized equity instruments. The system additionally supports exchange-traded fund products and other real-world assets integrated through blockchain infrastructure. JTX roadmap includes plans for perpetual futures markets, prediction market support, and mobile application access.

JTX Extends Solana Trading Capabilities With Diverse Asset Integration

Solana registered robust decentralized exchange performance throughout the first half of 2026. The blockchain network secured substantial market share of worldwide spot DEX trading volume and executed considerable monthly transaction activity. Accordingly, JTX launches amid heightened demand for onchain trading solutions.

JTX leverages Jito’s established infrastructure to enhance trade execution throughout the Solana network. The platform builds upon Jito’s Block Engine technology, JitoSOL liquid staking, BAM infrastructure, and JTO governance token framework. JTX extends the protocol’s emphasis on efficient blockchain transaction processing.

The exchange implements a fee structure that channels revenue to the Jito DAO treasury. JTX allocates 80% of collected fees toward DAO-managed JTO token buybacks and burning operations. The remaining 20% compensates referral partners based on trading volume generated through their distribution channels.

JTX Reinforces Solana’s Leadership in Onchain Financial Markets

Tokenized real-world asset integration on Solana has demonstrated consistent expansion as financial instruments migrate onchain. The blockchain network achieved billions in tokenized asset value by early July 2026. Tokenized equity trading activity registered substantial growth throughout the second quarter period.

JTX provides market participants with access to professional trading functionality while preserving blockchain-based asset ownership. The platform merges advanced execution features with self-custody principles for Solana ecosystem users. JTX targets enhanced trading experiences for participants pursuing decentralized market alternatives.

The platform debut establishes JTX as an additional trading infrastructure layer within the Solana ecosystem. It integrates Jito’s technological foundation with tools engineered for active digital asset marketplaces. Therefore, JTX bolsters Solana’s expanding influence in decentralized finance and tokenized asset exchange markets.

The post Jito Unveils JTX: Professional-Grade DeFi Trading Platform for Solana Ecosystem appeared first on Blockonomi.

Key Takeaways

• Rothschild slashed Shopify rating from Buy to Neutral, reducing price target from $160 to $130
• Shares declined 4.5% in pre-market hours following the analyst’s bearish call
• Meta’s artificial intelligence solutions for SMBs pose risk to Shopify’s growth momentum
• ARK Investment divested $25.1 million worth of Shopify shares while simultaneously buying Meta
• Morgan Stanley and RBC Capital continue backing the stock despite analyst concerns

Shares of Shopify experienced a sharp 4.5% decline during pre-market hours on July 21 following a significant analyst downgrade that rattled investor confidence in the e-commerce giant. Rothschild Redburn revised its stance from Buy to Neutral while simultaneously cutting its price objective from $160 down to $130, pointing to intensifying competition from Meta’s artificial intelligence-driven business tools.

Shopify Inc., SHOP

The timing of this reassessment is particularly noteworthy. Shopify has delivered exceptional performance since the closing months of 2024, with much of that success attributed to robust same-store sales expansion. However, that fundamental pillar now faces scrutiny. Rothschild’s analysts contend that Meta’s advanced language processing technology is specifically designed to capture the small and medium-sized enterprise market that represents Shopify’s primary customer demographic.

The downgrade set off a chain reaction among prominent institutional investors. ARK Investment Management liquidated over 203,000 shares valued at roughly $25.1 million from its main exchange-traded funds during the previous trading session. The significant detail: ARK didn’t merely exit its position—it concurrently acquired Meta stock, delivering an unmistakable signal regarding where sophisticated capital sees the competitive edge shifting.

Wall Street’s Divided Opinion

ARK’s strategic reallocation carried both symbolic weight and material significance. When a prominent fund manager exits one position while establishing the opposing trade on identical timing, it demonstrates a fundamental shift in investment thesis. These synchronized transactions amplified the developing narrative that market participants are recalibrating their assessment of competitive dynamics between Meta and Shopify in the SMB marketplace.

However, consensus remains elusive on Wall Street. Morgan Stanley designated Shopify among its eight top-conviction Overweight recommendations, asserting that recent technology sector weakness has created excessive valuation pressure. RBC Capital similarly reaffirmed its Outperform stance with a $170 target, referencing alternative data sources indicating second-quarter performance may surpass analyst estimates.

Shopify currently trades at $124.48, positioned below even Rothschild’s reduced $130 projection. Based on GuruFocus analysis, the company’s calculated intrinsic worth reaches $145.09, implying the market has embedded substantial pessimism relative to underlying fundamentals. This 14.2% valuation discount prompts consideration of whether investors have disproportionately penalized the stock for competitive concerns.

The company’s financial metrics present a nuanced portrait. Shopify’s trailing price-to-earnings multiple reaches 122.88x, substantially elevated compared to its five-year median of 82.66x. GuruFocus assigns growth characteristics a robust 9/10 rating, while profitability metrics receive a modest 5/10 assessment. The composite GF Score of 83/100 indicates respectable overall quality, though the premium earnings valuation embeds optimistic future expectations.

Market Outlook and Investor Implications

Broader equity market conditions contributed additional headwinds Monday. The S&P 500 retreated 0.2%, the Dow shed more than 300 points, and the Nasdaq finished essentially unchanged, all influenced by escalating U.S.-Iran geopolitical tensions that elevated crude oil prices. Treasury yields advanced as market participants anticipated that higher energy costs would sustain Federal Reserve restrictive policy. Tuesday’s Nasdaq recovery indicates Shopify’s weakness stems from company-specific factors rather than systemic market pressure.

Shopify confronts several challenges in the immediate term. Second-quarter financial results aren’t scheduled until August 5, creating a vacuum where the stock remains exposed to further selling pressure absent positive catalysts. Recent changes to Audit Committee leadership introduce additional governance uncertainty that compounds investor anxiety.

Company insiders have neither purchased nor disposed of shares during the preceding three months, indicating management is adopting a neutral stance. This absence of insider conviction from executives with privileged operational insight warrants investor attention.

The fundamental debate centers on whether Meta’s AI capabilities genuinely undermine Shopify’s sustainable competitive advantages or merely represent transient concerns within an otherwise resilient franchise. Rothschild embraces the structural threat interpretation. Morgan Stanley and RBC view it as temporary noise. Shareholders find themselves navigating these divergent perspectives, with share price action reflecting this uncertainty.

Meta’s competitive approach focuses on leveraging artificial intelligence to enable small business operators to function entirely within Meta’s ecosystem, bypassing the need for independent websites or standalone e-commerce infrastructure. Whether this strategy achieves widespread adoption or remains confined to specific niches continues to be determined. Current market pricing suggests transformative potential. Shopify advocates anticipate limited impact.

Share price trajectory through the August 5 earnings release hinges entirely on whether new information validates either thesis. Until concrete evidence emerges, investor sentiment remains uncertain and downward pressure persists.

The post Shopify (SHOP) Stock Tumbles as Analyst Warns of Meta AI Threat appeared first on Blockonomi.

Key Takeaways

• Cathie Wood’s ARK Invest divested 203,352 Shopify shares valued at $25.1 million from several ETFs
• The firm acquired 28,106 Meta Platforms shares for $18.2 million before the company’s July 29 quarterly report
• Meta shares have surged more than 15% in the last 30 days with a Strong Buy rating from analysts
• Analyst consensus forecasts Meta’s Q2 revenue at $60.22 billion, representing nearly 27% growth from last year
• Raymond James boosted Meta’s price target to $850, highlighting its expansion into AI cloud infrastructure

In a significant portfolio adjustment on July 20, Cathie Wood’s ARK Invest executed two substantial transactions: offloading a sizable Shopify stake while accumulating Meta Platforms shares just ahead of the social media giant’s upcoming quarterly disclosure.

The investment firm divested 203,352 shares of Shopify distributed across ARKK, ARKW, and ARKF portfolios, generating proceeds of $25.1 million. This transaction marks a continuation of ARK’s recent Shopify divestment pattern, indicating a strategic reduction in its e-commerce holdings.

Simultaneously, ARK accumulated 28,106 shares of Meta Platforms valued at $18.2 million through its three flagship ETFs. This strategic purchase arrives mere days before Meta’s anticipated second-quarter 2026 financial results disclosure on July 29.

Meta Platforms, Inc., META

Meta’s stock price has experienced a robust rally, appreciating over 15% during the past month. Market participants have shown enthusiasm for the company’s strategic initiatives around leasing AI computational infrastructure to external enterprises and manufacturing proprietary semiconductors to optimize operational expenses.

Analysts Highlight Meta’s Artificial Intelligence Strategy

Meta is preparing to commence production of its proprietary AI processor, designated “Iris,” scheduled for September launch through a collaboration with Broadcom. This initiative represents a strategic effort to minimize dependence on third-party hardware providers while expanding into AI infrastructure services.

On July 21, Raymond James analyst Josh Beck elevated his Meta price objective to $850 from $825, maintaining a Strong Buy recommendation. Beck highlighted Meta’s potential to monetize its extensive data center infrastructure by offering computational capacity to external organizations, establishing an additional revenue channel from its AI capital expenditures.

Bank of America analyst Justin Post reaffirmed a Buy rating with an $835 target on July 20. He anticipates robust advertising demand will propel Q2 performance beyond market expectations, projecting revenue of $60.6 billion alongside earnings per share of $7.50.

Post additionally observed that Meta’s May workforce reductions could enhance profitability metrics. He identifies Meta’s AI capabilities as catalysts for future advertising revenue growth and emerging income streams.

Wall Street’s Q2 Expectations for Meta

BMO Capital analyst Brian Pitz maintained a Market Perform stance with a $720 price objective. He acknowledged that Meta’s recent AI product launches and cloud infrastructure plans have alleviated certain investor concerns, though he seeks greater transparency regarding investment return trajectories.

Pitz also identified potential regulatory challenges from government-mandated age-verification requirements that could impact Meta’s platform operations.

Among 40 Wall Street analysts covering Meta, the stock commands a Strong Buy consensus, comprising 35 Buy ratings and five Hold recommendations issued over the past three months. The average price target of $805.98 implies approximately 25% appreciation potential from present trading levels.

The analyst community broadly anticipates Meta will deliver Q2 EPS of $7.19, reflecting 0.8% growth versus the prior-year quarter, accompanied by revenue of $60.22 billion, marking nearly 27% year-over-year expansion.

In addition to the Meta and Shopify transactions, ARK also acquired $21.2 million in space industry company SPCX while divesting holdings in Iridium Communications, Baidu, Advanced Micro Devices, and Robinhood Markets.

Meta’s Q2 2026 earnings release scheduled for July 29 will provide critical insights into the stock’s forward trajectory.

The post ARK Invest Exits $25M Shopify (SHOP) Position, Loads Up on Meta (META) Stock Before Earnings appeared first on Blockonomi.

Key Takeaways

• Microsoft has forged a multibillion-dollar agreement to deepen its collaboration with French artificial intelligence firm Mistral AI
• The tech giant will leverage Mistral’s GPU infrastructure across Europe, featuring thousands of NVIDIA Vera Rubin processing units
• Mistral’s Medium 3.5 and OCR 4 AI models have been deployed on Microsoft Foundry and Copilot Studio platforms
• The partnership specifically targets highly regulated European sectors such as finance, healthcare, and manufacturing
• MSFT shares are currently trading near $402, approximately 28.8% under GuruFocus’s calculated intrinsic value of $565.15

In a significant move to strengthen its European presence, Microsoft (MSFT) has entered into a multibillion-dollar agreement with French AI innovator Mistral AI, focusing on expanding artificial intelligence infrastructure throughout the continent. At the time of the announcement, MSFT shares were hovering around $402, experiencing a modest decline of approximately 0.67%.

Microsoft Corporation, MSFT

The agreement enables Microsoft to access Mistral’s extensive European GPU computing resources, comprising thousands of NVIDIA Vera Rubin graphics processing units. This strategic move aims to enhance capabilities for artificial intelligence development while supporting the distribution of Microsoft’s cloud computing and AI offerings.

Additionally, the collaboration incorporates Mistral’s AI models into Microsoft’s technological framework. Both Mistral Medium 3.5 and OCR 4 have been made accessible through Microsoft Foundry, with Mistral Medium 3.5 also being embedded into Microsoft Copilot Studio.

This seamless integration empowers developers to create and tailor AI-powered applications directly through Microsoft’s infrastructure — a strategic advantage for businesses already entrenched in Microsoft’s technology environment.

Targeting Heavily Regulated Sectors

The partnership has been specifically designed to address the needs of industries where data sovereignty is paramount. Leveraging Azure and Azure Local platforms, enterprises can implement Mistral models across various configurations including cloud-based, hybrid cloud-connected, and completely air-gapped systems.

This flexible infrastructure directly addresses requirements in financial services, healthcare, and manufacturing industries — sectors facing stringent regulatory frameworks governing data handling and processing.

Brad Smith, Microsoft’s Vice Chair and President, stated it clearly: “Europe should have access to the world’s most capable AI without compromising control over their data, operations or digital future.”

Arthur Mensch, CEO of Mistral, reinforced this message, emphasizing that the partnership seeks to deliver cutting-edge AI capabilities to organizations while maintaining their autonomy over their technological infrastructure.

Joint Market Strategy for European Expansion

The two companies have also unveiled a comprehensive joint market strategy aimed at enterprise clients throughout Europe and beyond. Their collaborative approach includes financing proof-of-concept projects, providing Azure platform credits, and conducting specialized workshops designed to accelerate customer implementation.

While this follows a conventional enterprise partnership model, the magnitude of the GPU infrastructure investment and the concentrated European strategy distinguish this announcement from typical collaborative ventures.

Financial Analysis and Stock Valuation

Trading near $402, MSFT currently has a price-to-earnings ratio of approximately 23.95 — significantly lower than its five-year median of 33.88. According to GuruFocus’s valuation model, the GF Value stands at $565.15, indicating potential undervaluation of nearly 29%.

The company receives perfect 10/10 scores in both profitability and growth metrics within GuruFocus’s GF Score framework, although momentum registers at only 4/10.

A notable consideration: company insiders have divested roughly $10.5 million in MSFT shares during the previous three-month period.

The Mistral partnership was formally announced on July 21, 2026, with both organizations confirming that enterprise implementations have already commenced through Microsoft Foundry and Copilot Studio platforms.

The post Microsoft (MSFT) Stock Dips as Company Announces Major Mistral AI Partnership in Europe appeared first on Blockonomi.

Of the more than 3,000 companies that were legally serving crypto clients across the EU as recently as this June, fewer than 300 hold the right to do so today, according to CASP Tracker.

The reason is the Markets in Crypto-Assets Regulation (MiCA), which took full effect across the European Union on 1 July 2026: from that date, only a company holding Crypto-Asset Service Provider (CASP) authorisation — granted by a regulator in one EU member state and passported across the rest of the bloc — can serve EU clients. Companies that previously operated under national Virtual Asset Service Provider (VASP) registrations had exactly until that date to convert. Most didn’t.

We talked to Ivan Nevzorov, CEO at SBSB Fintech Lawyers, about what’s actually left for them now — and why the shortcuts most of them reach for first usually aren’t the ones that hold up.

Let’s start with the obvious one. A company still doesn’t have a CASP licence today — what happens to it now?

Ivan Nevzorov: Look, here’s the thing people don’t want to hear: the deadline’s already passed. From July 1st, every day you keep serving EU clients without authorisation is a day you’re in breach of MiCA — a minimum €5 million fine under Article 111, and in France it can mean criminal liability for whoever’s responsible. So the answer everyone expects to hear, “just go get licensed,” isn’t actually on the table anymore for a company operating today. You can’t file an application, keep the lights on for months while it gets reviewed, and call that compliance.

Which really leaves two paths. One, you wind down, because the business can’t meet the new standard. Two, you relocate — move your base to a friendlier jurisdiction. Though that one only keeps you legal if you stop marketing into the EU completely and let clients come to you on their own, what’s called reverse solicitation. Keep advertising to EU users from outside the bloc, and you’re breaking the exact same rule, just from a different address.

We’ll come back to relocating, because it’s genuinely its own conversation. Let’s start with winding down, since that’s where most of these companies actually are right now — and honestly, it’s painful to watch, because most of them didn’t do anything wrong. They just didn’t get there in time, and for a lot of them, the reasons had nothing to do with how good their compliance actually was.

Winding down sounds like the more straightforward path, at least. Is it actually?

Ivan Nevzorov: Not as straightforward as people think, and there’s a right way and a wrong way to do it. The wrong way is switching off the app and disappearing — the client assets sitting in those accounts don’t vanish, and holding them is a regulated activity in itself. To the regulator, that company hasn’t gone anywhere. It’s still operating without a licence, only now it’s also stopped answering its clients. The right way is one of two things: an orderly wind-down, or transferring your clients to a CASP that’s already authorised.

ESMA’s actually spelled out what an orderly wind-down has to look like: stop onboarding, stop any marketing into the EU, restrict yourself to settling what’s already open. And transferring clients sounds simpler on paper, but being on the CASP register only tells you a firm’s allowed to take clients — it doesn’t tell you they’re actually set up to onboard a few thousand new ones at once. A lot of the firms that got authorised fastest didn’t build a crypto compliance function from zero — they already held a MiFID or e-money licence and just converted it, lighter scrutiny attached. Good for them, but it also means some of these brand-new CASPs are banks running crypto as a side product, not specialists who can absorb a wave of migrating clients. Every single one of those clients still needs full AML and KYC re-verification before the new CASP can touch their money. That’s months of work for a team that does it every day. Longer for a team that doesn’t.

You’d think the bigger platforms would have this solved by now. Is that actually the case?

Ivan Nevzorov: Less than people think, and Binance is actually a fair example of why. A platform with years of European operating history and enormous legal and compliance resources still ran into real MiCA licensing problems — the same wall a lot of much smaller companies are hitting. That tells you something worth sitting with: this isn’t a gap you close just by throwing money or headcount at it. If a company at that scale couldn’t get it fully sorted before the deadline, a smaller operator shouldn’t assume they’ll just muscle through it either.

Let’s rewind for a second — only a couple hundred companies actually made it through while that was still possible. What was going wrong for the rest?

Ivan Nevzorov: Honestly, it’s rarely the paperwork. A technically correct application just gets you in the room — it doesn’t win you the decision. We saw one filing get rejected over how the share capital was deposited, and that requirement isn’t even written into MiCA, anywhere. The regulator just invented a formality that isn’t in the text. That’s the pattern I keep seeing: whatever reason they put on paper is almost never the real one. The real reason comes to you informally, if it comes at all, and it’s about how they read the company — do you actually understand your own risk model, who’s accountable for what, who your clients really are. A compliance policy copied from a template answers none of that. It’s the first thing I flag when someone walks into SBSB with one.

And the second thing people underestimate completely: where you filed mattered almost as much as what you filed. This wasn’t one process across the EU — it was twenty-seven versions of it, moving at completely different speeds, with completely different appetites for saying no. Germany’s BaFin wasn’t shy about it: its first-ever MiCA enforcement action was rejecting Ethena’s application and then forcing the company to wind down its German operation and redeem its tokens. Italy’s regulator went the other way — it spent most of the transition period without having authorised anyone at all, so filings there just sat. Same regulation, wildly different odds depending on the door you knocked on. A few countries never even built the door — Poland’s the loudest example, it went into the deadline with no authority issuing CASP licences at all — but that’s the extreme end of a spectrum the whole market was sitting on.

Let’s talk about the companies actually going through the licensing process, then — a first application in a market they haven’t touched yet, or a return down the line after an orderly exit. What does a strategy that actually works look like, in practice?

Ivan Nevzorov: Honestly, it starts before you’ve touched a single form. You go talk to the regulator first, find out exactly what they expect from a business like this one, and only then do you build the structure around that answer — the AML policy, the governance, the documentation. MiCA’s a directive, which means every country implements it a little differently, so a compliance package that worked in one member state gets rechecked before you dare reuse it somewhere else. People skip that step constantly, and it costs them.

At SBSB, a full mandate for us looks like this: company formation, the application itself, handling the regulator correspondence, and then the parts most founders genuinely can’t build alone — banking relationships, payment infrastructure, penetration testing through our partners, licensed compliance software. And staffing matters just as much. Regulators check AML certifications early, so get that sorted before the application goes in, not after you’ve already filed.

How should a company actually choose which EU market to apply in — Germany, Austria, the Netherlands, Estonia?

Ivan Nevzorov: I don’t give every client the same answer, honestly, and if anyone tells you there’s one magic jurisdiction, they’re oversimplifying it for you. But the differences between regulators are real, and by now they’re well documented. Germany’s BaFin gives you the heaviest signature in Europe — corporate clients respect it — but you pay for it: a German entity, at least two qualified directors actually present in the country, capital paid up at filing, and a documentation pack that runs to hundreds of pages, with the formal filing in German. France is the opposite story: the AMF had been licensing crypto firms under its own national regime for five years before MiCA existed, so firms already registered there got a genuinely streamlined path, and the regulator’s crypto unit knows what it’s looking at. Luxembourg, Ireland, and Malta became the hubs the big exchanges actually picked: Coinbase went through Luxembourg, Kraken through Ireland, OKX and Crypto.com through Malta. That’s not a coincidence; it’s where the process was mature enough to handle a file that size.

But here’s what I actually tell clients: the regulator’s speed shouldn’t decide it — your own capacity should. Every serious regulator now checks for the same thing: a real office, real staff on the ground, a credible plan for that specific market. Pick the jurisdiction where you can honestly show that, not whoever’s got the shortest queue — a fast process with no substance behind your application just gets you a fast rejection. And yes, Germany leads on raw licence numbers right now, but a good chunk of that is banks and brokers converting a licence they already had, not crypto-native firms getting freshly approved. “Germany has the most CASPs” and “Germany’s the easiest place for a crypto company” are two different claims, and people mix them up constantly. I don’t think any single country’s lead holds for long anyway — regulator capacity is finite everywhere. We’ve watched this movie before, it’s basically what happened with Curaçao’s gaming licence reform. Once the volume outpaces what the regulator can actually process, the process itself becomes the bottleneck.

Let’s come back to relocating, the third path you mentioned earlier. For companies thinking globally, how should they weigh an EU licence against licences elsewhere — Latin America, Asia, offshore?

Ivan Nevzorov: Look, the safest position is full compliance everywhere you operate — better banking terms, full market access, nothing sitting in a grey area. But that takes a budget most startups just don’t have. So in practice, most of them end up running from a business-friendly base — El Salvador, Panama, the UAE, Singapore, Mexico, these come up constantly — and serving EU clients only through reverse solicitation, sometimes with geo-blocks stacked on top for the riskier markets.

But notice what those two options really are: one’s too expensive for most, and the other cuts you off from actively winning EU clients at all. Which is why the question I hear constantly right now is: can’t I just operate under someone else’s licence? And here’s where MiCA catches people off guard. In payments, under the Second Payment Services Directive, PSD2, there’s a proper agent model — an unlicensed company can work the market on behalf of a licensed one, and the industry uses it everywhere. MiCA has nothing like that. Articles 59 and 60 draw a hard line around who’s allowed to provide crypto services at all, so the classic white-label — an unlicensed provider serving clients in its own name under someone else’s licence — formally doesn’t work.

What nobody forbids, though, is supplying a licensed CASP with technology or marketing. That’s fully legal, and the entire market has rushed into the gap between those two points — KvarnX, Bitpanda, Bit2Me are all running their own versions of it, and Spain’s regulator has even given the grey-label approach a cautiously positive read, with real limits attached. The catch is what role you’re actually playing: the licensed partner holds every wallet, every bank account, every client transaction. You’re the technology behind their offer, not the provider in front of the client. For a lot of companies that’s a perfectly good way back into the EU market. Just be honest with yourself about which side of that line your business model actually needs to be on.

Last one — once a company has the CASP licence, what does the ongoing workload actually look like?

Ivan Nevzorov: Getting the licence is honestly the easy part to talk about. Staying licensed is where companies actually get tested. I’ve watched a licence get pulled by an EU regulator within months of being granted, because the business just didn’t follow through on what it promised in the application. What actually matters, once you’re authorised, is exactly what you signed up for on paper — active risk assessment, ongoing AML monitoring, reporting to the regulator on time, every single time.

Has that gap between paperwork and practice actually cost one of your clients?

Ivan Nevzorov: This one’s a bit different — no regulator pulled anything here, and it’s actually from outside crypto. But it’s the same underlying lesson, so it’s worth telling. We had a client at SBSB who did everything right on paper: MSB registration, their API — Authorised Payment Institution — licence, connected to a banking-as-a-service partner, targeting the European market. Business plan solid, AML policy solid, source-of-funds checks all cleared. Where it fell apart was the economics nobody had stress-tested. The marketing spend needed to actually hit their projected client volume ran well above what they’d budgeted. The partner bank’s own compliance screening filtered out a chunk of the high-risk client segment their whole model was built around. And the tariffs the bank actually offered were thinner than what they’d planned for. Nothing illegal happened anywhere in that chain. The business just didn’t survive contact with the market it was built for. They made the call to sell, and we’ve already found a buyer — sold it, more or less, at this point.

One thing that’s genuinely changed the economics here is AI in compliance monitoring. Transaction monitoring that used to eat up a whole team can run with a fraction of the people now — cheaper for the company, and from what regulators have signalled, easier for them to work with too. None of that replaces the basic requirement, though. The licence is the easy part. Staying licensed — that’s the job.

If you had to give one piece of advice to a company still sitting on this decision — wind down or relocate, transfer or hold — what would it be?

Ivan Nevzorov: Pick your strategy and start moving — this week, not this quarter. The window between now and the first wave of regulatory checks is the only asset these companies have left, and it’s shrinking: we flagged back in May that the first checks would land around the third quarter of this year, and the Netherlands has already shown how this plays out — their central bank fined Kraken €4 million and Crypto.com €2.85 million under the old registration regime, and OKX €2.25 million just last year, for something that happened two years earlier.

A company that uses these months to actually execute — transfer the clients, close out the obligations, or get the relocation structure in place — walks into that first check with a story of action behind it. A company that’s still weighing its options in September walks in with an explanation for why it did nothing. Given the choice, I know which conversation I’d rather have with a regulator.

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The post Fewer Than 300 Made the Cut: Ivan Nevzorov on MiCA, CASP Licensing, and What’s Next for Crypto Firms appeared first on CryptoPotato.

Pi Network’s PI has emerged as one of the strongest performers in the top-100 crypto ranking over the past week, outpacing countless major digital assets.

However, this rally may prove short-lived and could be followed by another sharp pullback in the near future.

PI Flashes Green

In mid-July, the native token of the controversial crypto project tumbled to a new all-time low of around $0.07, while its market capitalization slipped well below the $1 billion psychological level.

Since then, though, the bulls have stepped in, and now PI trades at around $0.093 (per CoinGecko), representing a roughly 25% increase on a weekly basis.

The exact catalyst of the resurgence remains unclear since Pi Network’s team has been rather silent over the past few days and has not unveiled any new ecosystem updates. Of course, one potential factor could be the overall revival of the crypto market, where Bitcoin (BTC) crossed $66,000, while Ethereum (ETH) aims to reach $2,000.

Many analysts are now optimistic that PI can post further gains. X user Crypto With Gopal claimed that the asset is printing a “Falling Wedge” after a prolonged downtrend where selling pressure is fading, and the price is “squeezing toward the wedge apex.” They believe this formation often signals that momentum is shifting back to the bulls.

“Buyers are quietly defending support while lower highs continue to compress. A strong breakout above the wedge resistance could spark a sharp relief rally as sidelined buyers step in. If bulls reclaim the trendline with volume, PI could be setting up for a major expansion move. Market sentiment is cautiously turning bullish,” they added.

Prior to that, OxNeena argued that after months of selling pressure, PI has finally shown signs of accumulation. They believe that if buyers step in, this could mark the beginning of a strong trend reversal, with $0.20 and $0.32 set as potential upside targets.

Brace for Potential Drop

PI investors should remain cautious, as previous pumps like this have often been abruptly ended by another major move downward. The prolonged bear market and the concerning condition of the entire crypto sector reinforce those fears.

Meanwhile, the PI community must take other factors into account, including the upcoming token unlocks. Around 127.5 million coins are set for release in the next 30 days: a development that doesn’t guarantee a price drop but increases selling pressure.

X user Travladd told their nearly 500,000 followers on X that PI is “looking cooked,” noting that there is too much supply. “Won’t catch me buying into any relief rally,” they added.

The post Pi Network (PI) Rises 25% in a Week But Warning Signs Point to Another Possible Pullback appeared first on CryptoPotato.

July has been historically a positive month for bitcoin and this edition hasn’t disappointed so far. The cryptocurrency began the month on the wrong foot, dipping below $58,000 for the first time in nearly two years, but it rebounded swiftly in the following weeks.

Earlier today, it rocketed past $66,000 for the first time in over a month, gaining over $8,000 since that July 1 low. Here are some of the possible reasons behind it.

Whale and ETF Accumulation

As June was coming to an end and it became known that it would be a highly painful month for the asset with a nosedive of over 20%, we outlined several factors that had to change in July for a price resurgence. One of them was the ETF inflows. The financial vehicles went on a violent eight-week withdrawal-only streak, which was finally snapped a couple of weeks ago.

Moreover, investors continued to pour funds into the ETFs, which ended two weeks in the green in a row for the first time in months. July 20 extended the streak as the funds attracted almost $227 million.

The second major reason for the price revival is whale behavior. Data shared by CryptoQuant indicated that large market participants holding between 1,000 and 10,000 BTC increased their 60-day net accumulation to roughly 66,700 units, which is close to the recent record seen a month ago.

“This is the cohort’s strongest accumulation reading since February 17, when net accumulation briefly exceeded 106,000 BTC.”

News From the US

The third reason has a more macro scent. It came a week ago when the US CPI numbers for June were announced, showing softer-than-expected inflation rates. BTC rallied immediately after the news went live as lower inflation reduced the pressure on the Fed to hike interest rates. Similar market conditions are regarded as beneficial for risk-on assets like bitcoin.

Last but perhaps most importantly at the moment comes a development on the CLARITY Act. After the odds of approval dropped toward 30% just days ago, reports emerged that the White House had agreed on an ethics package for the key legislation and sent the language to certain Senate republicans for further validation.

Although the details are still scarce, industry experts believe this is a major step in the right direction for the bill, and it increases the chances for a 2026 approval.

The post 4 Key Reasons Behind Bitcoin’s (BTC) Rally Above $66K appeared first on CryptoPotato.

Wrapped Ethereum (WETH) recorded 113,000 whale transactions worth more than $100,000 over the past week. This figure is its highest level since May 2021, according to on-chain analytics platform Santiment.

The surge indicates that significant capital is moving through Ethereum’s trading, lending, liquidity, and decentralized finance (DeFi) infrastructure rather than remaining idle in wallets.

WETH Whale Activity

Santiment, in its latest post on X, revealed that the increase coincides with several signs of rising demand for Ethereum. These include accelerating inflows into US spot Ether ETFs, with BlackRock’s ETH products absorbing a large share of recent inflows, as well as growing activity on Robinhood Chain, which uses ETH for gas and has processed heavy decentralized exchange (DEX) volume since its July 1 launch.

The analytics firm also pointed to increasing corporate treasury participation, as it highlighted Bitmine’s holdings of around 5.8 million ETH and backing from Bitmine, SharpLink, and Joe Lubin for Ethlabs to cater to the increasing institutional demand for Ethereum.

While they do not guarantee a price rally, these factors are worth paying attention to.

Next Key Levels

As for ETH’s price, the world’s largest altcoin by market cap, climbed to $1,934 on Wednesday, rising by almost 9% on the week and 4.5% on the day. Earlier, crypto analyst Ali Martinez said Ethereum remains above the “must hold” level of $1,850; its next upside target would be $2,300.

MN Trading founder Michaël van de Poppe also believes that if the crypto asset holds the crucial support zone above $1,800, it should “trigger a continuation upwards.”

A similar projection was made by another analyst, Tony Research, who said ETH could first climb above $2,000, with a move toward the $2,200 area possible if Bitcoin reaches $70,000. However, the rally is expected to be followed by seven to 10 days of distribution before Ethereum falls into a final bottom zone between $1,260 and $890, which the analyst described as a dollar-cost averaging (DCA) opportunity.

According to the forecast, that decline would pave the way for a new bull cycle, with Ethereum eventually targeting $7,000.

The post Wrapped Ethereum Just Logged a Five-Year Whale Record: Here’s Why It Matters for ETH appeared first on CryptoPotato.

Bitcoin’s price rebounded swiftly after the Monday morning dip below $64,000 and has gained over two grand since then, climbing to a monthly peak of over $66,000.

The altcoin space has turned green as well. ETH is inching closer to $1,950, XRP is testing the $1.13 resistance, while ADA has stolen the show from the larger caps.

BTC Sees Monthly Peak

The previous business week began on a familiar note, as BTC priced in the weekend attacks in the Middle East and dropped below $62,000 from over $64,000. The bulls stepped up after the favorable CPI data for June, pushing the asset to $65,500 for the first time in three weeks.

However, its progress stalled there, and bitcoin dipped to $62,500 by Friday. Nevertheless, the bulls were more persistent once again and initiated an immediate recovery right before and during the weekend, in which the cryptocurrency climbed back to $64,000.

It tried to take down $65,000 on Sunday, but it was stopped and dropped once again on Monday morning. This time, it was a lot less painful, and it quickly rebounded from the daily low of $63,750.

It jumped past $65,500 earlier today before another leg up drove it to its highest price tag since June 17 at $66,300. It remains above $66,000 as of press time, and its market cap has jumped to $1.330 trillion on CG. Its dominance over the alts is also on the rise, currently at 57.2%.

Alts Turn Green

As mentioned above, green dominates almost all altcoin charts. Ethereum is challenging the $1,950 level before a potential run to $2,000. BNB has neared $580, while XRP and HYPE are up by approximately 4% daily. DOGE, ZEC, and XLM have marked similar gains, while Cardano’s native token has exploded by over 8% and now trades at a local peak of $0.175.

Impressive daily increases are evident from BCH, UNI, AAVE, DOT, and WLD. ONDO has rocketed by over 14% and sits close to $0.40.

The cumulative market capitalization of all crypto assets is up by $70 billion in a day. The metric has climbed to $2.320 trillion for the first time in a month.

The post Crypto Markets Add $70B Daily as Bitcoin’s Price Hits Monthly High: Market Watch appeared first on CryptoPotato.