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In brief Shareholders voted by more than 90% to sell the company's 668 BTC, return capital, and cancel its London Stock Exchange listing This marks the end of a Bitcoin treasury experiment in under twelve months. Satsuma raised £163.6 million in August 2025 but expects to return only £26.8 to £30 million after wind-down costs. The shareholders of Satsuma Technology, a U.K.-based Bitcoin treasury company, have voted to liquidate the company's entire Bitcoin position and shut down the business, overruling four of its six board members.

More than 90% of votes cast backed the dual resolutions to sell 668 BTC—worth roughly $43.5 million—and cancel the company's London Stock Exchange listing, per a Monday filing. The move unwinds the digital asset treasury, or DAT for short—the latest such company to call it a day after the DAT trend picked up steam in 2025.

Satsuma started life as TAO Alpha, a small AI firm, before rebranding and hiring Mark Moss in August 2025 as its Chief Bitcoin Strategist. Moss is an American Bitcoin commentator with over 700,000 YouTube subscribers known for advising institutions on how to buy and hold Bitcoin as a corporate treasury asset—essentially, a company's rainy-day fund, but in crypto.

The same month, Satsuma raised £163.6 million ($218 million) through convertible notes—debt instruments investors can either reclaim as cash or convert into company shares—led by ParaFi Capital, with Pantera Capital, Digital Currency Group, and Kraken joining in. Investors contributed 1,097 BTC directly in place of roughly $97 million in cash.

The stock peaked around £14 per share, roughly £66 million in market cap, in June 2025. Bitcoin then hit its $126,000 all-time high in October before entering a months-long slide in what became the current crypto winter, dragging the rest of the market—including Satsuma’s stock—with it.

By December, Satsuma was already selling assets to stay solvent: 579 BTC went for £40 million to ensure it had enough cash to repay noteholders who chose not to convert their debt into shares by year-end.

The unravelingThe company’s CFO departed in February 2026; the CEO followed in March. By April, shares had lost more than 99% of their June 2025 value—trading at fractions of a penny—and Pantera Capital, holding about 6.7% of Satsuma's stock, began pushing publicly for full liquidation.

The logic was direct: Satsuma's market cap—the total combined dollar value of all its shares—had fallen well below the value of the Bitcoin sitting on its own balance sheet, the point where owning the stock is strictly worse than owning the coin directly. A group of shareholders representing more than 20% of issued capital formally put the resolution to a vote.

The board split hard. Four of six directors opposed the liquidation, arguing Satsuma was still a viable listed Bitcoin vehicle. Two sided with shareholders pushing to wind down. Shareholders overruled the board majority by a wide margin.

The wind-down runs through a "B Share Scheme," a U.K. legal mechanism for distributing cash assets back to shareholders. Satsuma expects to return between £26.8 million and £30 million after estimated termination costs of £2.7 million—legal fees, severance, delisting charges, and run-off insurance.

Combined with the £40 million from the December BTC sale, total capital recovered lands around £66–£70 million against the £163.6 million originally raised. And because convertible note holders rank above common equity in any payout structure—meaning they get paid first—ordinary shareholders could walk away with considerably less than even those numbers suggest.

Satsuma is currently the second-largest U.K.-listed Bitcoin treasury company by holdings. The first is The Smarter Web Company, which holds 2,878 BTC and has not suggested it’s winding down.

U.K. High Court hearings to approve the capital return are set for August and September 2026. The delisting is expected mid-September, with shareholder payments due by late September.

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Satsuma Technology shareholders have voted overwhelmingly to liquidate the company’s remaining Bitcoin holdings and steps to dissolve the business, marking a decisive end to the short-lived experiment of running a listed Bitcoin treasury on the London Stock Exchange.

More than 90% of votes cast at a recent meeting favored two key measures: selling all 668 BTC—currently valued at about $43.5 million—and canceling Satsuma’s listing on the London Stock Exchange. The decision passed despite opposition from a majority of the board, with four directors arguing that Satsuma could still serve as a viable publicly-traded Bitcoin investment vehicle.

Satsuma, based in the U.K., joins a wave of digital asset treasury (DAT) companies that have opted to wind down operations after a surge in the DAT trend earlier in 2025. The move comes as Satsuma’s stock performance and Bitcoin holdings diverged throughout the second half of the year, sharply reducing shareholder value.

Satsuma’s market capitalization fell far below the value of its Bitcoin assets on hand, creating a scenario where holding company shares appeared less attractive than owning BTC directly.

Origins and FundingThe company originally operated as TAO Alpha, a small artificial intelligence firm, before rebranding and recruiting Mark Moss as Chief Bitcoin Strategist in August 2025. Moss, an American Bitcoin advocate with over 700,000 YouTube followers, is recognized for guiding institutions interested in acquiring and managing Bitcoin as corporate treasury assets.

That same month, Satsuma secured £163.6 million ($218 million) through a convertible note offering led by ParaFi Capital and joined by Pantera Capital, Digital Currency Group, and Kraken. Notably, investors contributed 1,097 BTC in lieu of approximately $97 million in cash, reflecting strong enthusiasm for the Bitcoin treasury model at the time.

The stock climbed to a high of around £14 per share in June 2025, giving Satsuma a market capitalization near £66 million. However, as Bitcoin reached a record price of $126,000 in October 2025 before declining, Satsuma’s shares and broader crypto markets entered a prolonged downturn.

Mini dictionary: Convertible note – A form of short-term debt that can convert into equity, typically in connection with a future financing round. Investors can reclaim their money as cash or choose to become shareholders.

By December 2025, Satsuma was forced to sell 579 BTC for £40 million to meet its obligations to noteholders opting for repayment rather than equity conversion.

EventBTC SoldCash Raised (£)Shares ValueConvertible Notes Raised1,097 BTCPart of £163.6 millionPeak at £66 millionAsset Sale (Dec 2025)579 BTC£40 millionN/AFinal Liquidation668 BTCEstimated £26.8–£30 million after costsNear zero (shares plummeted)Market Rout and Leadership DeparturesThroughout early 2026, Satsuma’s financial and leadership stability deteriorated. The company’s CFO left in February, and the CEO resigned the following month. By April, Satsuma shares had lost over 99% of their June 2025 value and were trading at fractions of a penny. Pantera Capital, a U.S.-based investment firm that owns about 6.7% of the company, called publicly for a total wind-down, citing the discrepancy between the company’s Bitcoin assets and its market capitalization.

A shareholder group representing over 20% of issued capital initiated a formal vote for liquidation. The board split 4-2, with most directors pushing to continue operations, but the shareholder majority prevailed decisively.

Settlement and Remaining UK Bitcoin TreasuriesSatsuma will conduct the payout using a “B Share Scheme,” a UK legal framework used to distribute cash assets to shareholders. The company expects to return between £26.8 million and £30 million after deducting around £2.7 million in wind-down fees, including legal services, severance pay, delisting expenses, and insurance.

In total, Satsuma’s combined capital returns—including the December Bitcoin sale—amount to an estimated £66–£70 million, a significant shortfall compared to the £163.6 million originally raised. Since convertible note holders receive priority in the payout process, ordinary shareholders are likely to recover less than the final post-liquidation cash figure.

Satsuma ranks as the second-largest listed Bitcoin treasury company in the United Kingdom by holdings. The top position is held by The Smarter Web Company, which retains 2,878 BTC and has not publicly considered a wind-down.

Approval for Satsuma’s capital return plan now goes to U.K. High Court hearings scheduled for August and September 2026. The company is expected to delist from the LSE in mid-September, with shareholder payments following later that month.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Bitcoin has risen 2.2% to $66,681, and XRP has gained 3.6% to $1.152 as both assets test chart resistance while Iran claims it struck Amazon’s data infrastructure in Bahrain.

Summary

Bitcoin approached $67,257 Fibonacci resistance as bullish momentum strengthened on its daily chart. XRP broke above a symmetrical triangle, opening a possible move toward $1.30. Iran’s unverified Amazon strike claim added geopolitical risk to both crypto rallies. IRNA, Iran’s state news agency, has reported that the Islamic Revolutionary Guard Corps used several cruise missiles to attack what it described as Amazon’s central data infrastructure in Bahrain on July 21. The IRGC claimed the facility was destroyed, although Amazon and Bahraini authorities had not confirmed the reported damage at the time of writing.

As part of the ongoing 24th wave of Operation Nasr-2, and in retaliation for the US recent attack on civilian sites in Darkhoveyn, the IRGC Aerospace Force launched multiple cruise missiles against Amazon’s central data infrastructure in Bahrain, completely destroying it.

— IRNA News Agency ☫ (@IrnaEnglish) July 21, 2026 According to the IRGC, the operation came in response to a US attack on the construction site of Iran’s Darkhovin nuclear power plant. The Iranian force has also threatened 18 American technology companies, including Microsoft, Intel, Cisco and Google, over their alleged links to US military and intelligence activity.

Amazon Web Services facilities in Bahrain and the United Arab Emirates have already faced attacks during the conflict. In April, an Amazon cloud facility in Bahrain had sustained damage in an Iranian attack, while service interruptions affected AWS infrastructure elsewhere in the region.

Investors reacted cautiously because the latest IRGC account lacked independent confirmation. Amazon shares had closed Monday 1.12% higher at $249.99, but US stock futures later surrendered part of their earlier gains as reports of the alleged attack circulated.

Military action continued while Pakistan pursued another diplomatic effort. The US Central Command had completed a new series of attacks on Iran, extending the American campaign to a tenth consecutive night.

CENTCOM listed Iranian command centers, maritime assets, missile and drone launch sites, and air-defense systems among the targets. The US military stated that the strikes were intended to reduce Iran’s ability to attack commercial vessels passing through the Strait of Hormuz.

At the same time, the Associated Press reported that Pakistan was trying to restart ceasefire negotiations. Those efforts continued as Iran attacked targets in Bahrain, Kuwait and Jordan and fighting disrupted commercial traffic through the Strait of Hormuz.

Bitcoin recovery runs into Fibonacci resistance Bitcoin (BTC) rose from a daily low of $65,149 to an intraday high of $66,956 on Binance, according to the supplied TradingView chart. The move placed BTC directly below the 61.8% Fibonacci retracement at $67,257, calculated from the decline between $82,485 and $57,845.

Bitcoin daily price chart — July 21 | Source: crypto.news TradingView’s daily setup identifies $67,257 as the immediate technical barrier. A daily close above it would expose the 50% retracement at $70,165, while another advance could bring the 38.2% level at $73,073 into view.

Failure to clear the 61.8% line would leave Bitcoin inside the recovery range formed since its late-June low. The same chart places the closest marked downside level at $63,118, which corresponds with the 78.6% Fibonacci retracement and overlaps with recent consolidation.

Momentum has improved alongside the rebound. Bitcoin’s relative strength index stands at 61.91, above its moving average of 53.05 but still below the overbought threshold of 70, according to TradingView.

The daily MACD also remains positive, with the MACD line at 508.46, the signal line at 406.09 and the histogram at 102.37. TradingView’s readings show bullish momentum, although the small gap between the two lines means BTC still requires follow-through above $67,257 to strengthen the signal.

Bitcoin’s latest candle opened at $65,255 and remained positive when the chart was captured. However, the unfinished daily candle means the attempted break cannot be confirmed until the session closes.

XRP breakout points toward $1.30 XRP (XRP) price has moved above the descending boundary of a symmetrical triangle on its Binance daily chart. TradingView data shows the token advancing from a session low of $1.111 to an intraday high of $1.158 after several weeks of contracting price action.

XRP daily price chart — July 21 | Source: crypto.news The pattern developed between falling resistance from the mid-June swing high and ascending support extending from the late-June low. XRP’s move above the upper trendline indicates a breakout attempt, although confirmation still depends on a daily close outside the formation.

Based on the measured height displayed on the supplied chart, the triangle carries a projected move of about $0.2845. Applying that distance to the breakout area places the first marked target near $1.30.

A second resistance line appears at $1.374, which acted as a trading area before XRP’s sharp decline in early June. The chart therefore shows $1.30 as the first target and $1.374 as the next barrier if buyers maintain control.

TradingView’s Aroon indicator supports the bullish attempt, with Aroon Up at 100% and Aroon Down at 42.86%. Chaikin Money Flow has also climbed to 0.08, indicating that buying pressure has returned during the breakout.

A move back below the triangle’s upper boundary near $1.10 would weaken the pattern and place its rising support at risk. Sustained trading above the breakout line would preserve the chart’s path toward $1.30, though the unverified Amazon strike claim and continued US-Iran attacks could increase volatility across both XRP and Bitcoin.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Russia has formally approved the Digital Currency and Digital Rights Law, establishing a legal foundation for regulated cryptocurrency activity and paving the way for a new era in the country’s digital asset sector.

Legal foundation for licensed crypto businessesSet to become effective on September 1, 2026, once signed by the president, the legislation outlines comprehensive measures for licensing and oversight of crypto businesses operating in Russia. The law grants the country’s central bank, the Bank of Russia, authority to license and supervise five classes of crypto service providers: exchanges, brokers, asset managers, custodians, and crypto exchangers.

Companies currently offering crypto services will be permitted to operate through a transition period ending July 1, 2027. During this time, crypto exchanges are required to maintain a minimum capital of 15 million rubles, which currently equates to roughly $190,000, and must join an approved self-regulatory organization to ensure industry standards and compliance.

While the new legislation maintains the ban on cryptocurrency use for domestic payments, it explicitly allows digital assets to be used as a tool in cross-border transactions. This approach supports Russia’s efforts to develop blockchain-based settlement mechanisms amid ongoing international sanctions and evolving global financial conditions.

XRP’s unique status within Russian financial infrastructureXRP, the cryptocurrency developed by Ripple Labs for fast and inexpensive cross-border transfers, stands out in this regulatory transition due to its existing presence within Russia’s financial ecosystem. The Moscow Exchange (MOEX), Russia’s largest securities and derivatives trading platform, already enables access to XRP via its Digital Financial Assets (DFA) platform. This infrastructure allows institutional investors to hold tokenized versions of cryptocurrencies, such as XRP, through regulated investment products rather than direct asset acquisition.

Mini dictionary: Digital Financial Assets (DFA): In Russia, DFAs refer to tokenized financial instruments recognized under regulation, allowing for the tokenization of real-world assets or cryptocurrencies and enabling their trading in regulated environments such as MOEX.

MOEX’s expansion into tokenized investments provides regulated avenues for exposure to digital assets. As a result, XRP enjoys early access and integration where many other digital assets must wait until the full licensing regime is implemented.

CriteriaXRP (via MOEX)Other CryptocurrenciesCurrent access in RussiaAvailable to institutions through DFA channelsPending until new licenses are issuedRegulated investment productsYesNo or limitedLegal use in cross-border tradePermittedPermitted after licensing Institutions operating within MOEX’s DFA ecosystem may find it easier to gain exposure to XRP thanks to established, regulated investment options, giving XRP a potential advantage as Russia prepares to activate its newly licensed digital asset framework.

Wider context for Russia’s crypto reformsThe timing of these reforms coincides with reports that Russia is selling portions of its gold reserves to address fiscal challenges intensified by sanctions. As the government seeks alternative financial structures, the expansion of regulated digital asset infrastructure and the explicit legalization of cryptocurrency in international transactions illustrate a clear pivot toward non-traditional settlement networks.

While the law does not grant any cryptocurrency, including XRP, unique legal status or a guarantee of mass adoption in Russia, it positions regulated platforms such as MOEX—and the digital assets they support—as central players in the country’s evolving approach to digital finance.

With the licensed crypto market set for a September 2026 launch, XRP’s established integration within Russia’s financial infrastructure signals that it could attract institutional interest early in this regulated era of cross-border digital asset use.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

XRP has spent the last month consolidating within a narrowing trading range, according to crypto analyst Ali Martinez. He believes that the cryptocurrency may be on the verge of a significant breakout as price action compresses toward a crucial level.

Symmetrical triangle pattern formsMartinez shared a 1-hour chart showing XRP forming a symmetrical triangle pattern since late June. The formation is defined by a descending upper trendline, starting from highs near $1.30, and an ascending lower trendline, rising from lows close to $1.04. These lines are converging as XRP trades near $1.1041, leaving little room before the pattern resolves decisively in either direction.

A symmetrical triangle pattern typically signals market indecision, with neither buyers nor sellers able to establish clear dominance. As the triangle progresses, volatility tends to decrease until a breakout occurs, often leading to a sharp move in the direction of the breach.

XRP is approaching the apex of a symmetrical triangle, trading near $1.1041; the next move could be decisive if the pattern breaks.

Mini dictionary: Symmetrical triangle – A chart pattern characterized by two converging trendlines, indicating a period of consolidation that typically results in a breakout.

Key resistance at $1.13Martinez identified $1.13 as the pivotal level to monitor. He commented that a breakout above $1.13 could serve as confirmation of a bullish trend, potentially opening the door to further gains. In recent trading sessions, XRP has struggled to establish momentum above this level, repeatedly encountering resistance near the upper edge of the triangle.

A decisive breakout above $1.13 could confirm the bullish breakout and open the door for further upside.

Despite consistent recoveries from the lower trendline, XRP has yet to secure a sustained move above $1.13, which Martinez highlighted as the immediate focus for traders observing breakout signals.

Possible price targetsMartinez’s projection illustrates that if XRP moves above $1.13, immediate price targets could include $1.17, followed by $1.25 and $1.30. The anticipated move is steep, assuming that momentum accelerates once the resistance is breached. A rise to $1.30 would represent an approximate 18% increase from current levels.

Price LevelSignificance$1.13Breakout trigger/resistance$1.17First target after breakout$1.25Secondary upside target$1.30Potential breakout completionShould XRP fail to break out, a reversal near the lower trendline could bring prices back toward the $1 mark, but so far each dip has resulted in a swift recovery, supporting the ongoing bullish case.

XRP’s current positionAt the time of Martinez’s analysis, XRP was trading at $1.1041, hovering near the apex of the triangle pattern. The opportunity for a breakout is narrowing as the convergence of the trendlines restricts price movement even further. Martinez has not provided a specific timeline for a potential breakout but emphasized that confirmation above $1.13 is required for the bullish scenario to unfold.

XRP is the native cryptocurrency of the XRP Ledger, designed to facilitate fast and cost-effective cross-border payments for individuals and financial institutions.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

https://mannerofspeaking.org/2011/04/03/the-ripple-effect/

The XRP Ledger has surpassed a significant milestone, recording over 1 million agentic transactions. These transactions, settled via the x402 protocol, indicate the growing use of XRP for machine-to-machine micropayments. RippleX’s Head of Engineering, Ayo Akinyele, anticipates that this volume could reach between 10 and 100 million in the coming years. The development coincides with the launch of the XRPL AI Hub by Ripple-backed t54.ai, aiming to integrate payments and AI agents. This milestone suggests an emerging role for the XRP Ledger as a settlement layer in the agentic economy.

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Key Takeaways The milestone of 1 million agentic transactions on the XRP Ledger suggests increasing adoption of XRP for machine-to-machine payments. RippleX’s Ayo Akinyele anticipates a significant rise in transaction volume, potentially reaching 100 million in the next few years, which may indicate a robust growth trajectory. Pricing suggests market participants view this development as supportive of XRP’s potential for reaching a new all-time high by 2026. What to Watch Observers should monitor further announcements from Ripple and the XRPL AI Hub for indications of continued growth in agentic transaction volumes. Developments such as XRP ETF approvals or significant partnerships could act as catalysts, potentially influencing market sentiment toward XRP reaching a new all-time high. The market will also watch regulatory actions from entities like the U.S. SEC, which could impact sentiment and pricing.

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Term Structure

Contract Odds Δ since publish Volume 24h September 30, 2026 1.2% — — View market → December 31, 2026 6.2% — — View market →

HomeCryptoMARKETSFarmers & Merchants Investment Inc. discloses major crypto holdings.

Farmers & Merchants Investment Inc., a bank holding company with assets under management (AUM) worth $4.1 billion, disclosed exposure to Bitcoin (BTC), XRP, and Robinhood Markets (Nasdaq: HOOD).

While Bitcoin is the world's largest cryptocurrency, XRP is the sixth-largest cryptocurrency.

Robinhood is a Menlo Park, California-based e-trading brokerage platform that is best-known for its stock, cryptocurrency, and tokenized stock offerings.

Farmers & Merchants Investment Inc. revealed in a 13F filing with the U.S. Securities and Exchange Commission (SEC) that the bank holding company holds stakes in BlackRock's iShares Bitcoin Trust ETF (Nasdaq: IBIT), Bitwise XRP ETF (NYSE Arca: XRP), and Robinhood.

IBIT: $8,689XRP: $27,681HOOD: $47,633Scroll to Continue

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Trending on TheStreet Roundtable:Bitcoin miner stock surges on $9.8 billion AI dealAnalyst cuts crypto firm's price target after 25% layoffsXXI stock plunges 18% after CEO's abrupt exitTracking long-term price actionBlackRock's IBIT fund was launched in January 2024 following the SEC's approval and is the biggest spot ETF in the U.S. to offer Bitcoin exposure. The fund, which hit the all-time high (ATH) of $71.82 on Oct. 6, 2025, was trading around 50% lower at $37.53 at the time of writing.

The Bitwise XRP fund was launched in November 2025, following the success of multiple crypto ETFs. The fund, which hit the ATH of $26.88 on Jan. 6, 2026, was trading more than 50% lower at $12.92.

It was in July 2021 that Robinhood went public. In September last year, the stock joined the coveted S&P 500 index. The HOOD stock, which hit the ATH of $153.86 on Oct. 6, 2025, was trading 30% lower at $106.69.

Farmers & Merchants Investment Inc.'s latest disclosure only shows how much traditional finance (TradFi) firms have come to embrace digital assets.

Ripple Prime has secured nominations in four categories at the Hedgeweek US Awards 2026, highlighting its growing profile within the institutional financial sector. The categories include Prime Broker of the Year: Client Service, Prime Broker of the Year: Technology, Prime Broker of the Year: Specialist Markets, and Prime Broker of the Year: Start-up & Emerging Managers. The winners will be determined by public voting, with the awards ceremony scheduled for October 8, 2026, in New York.

Strong nominations in key categoriesRipple Prime’s placement among the nominees brings it into direct competition with prominent banks, trading venues, fund administrators, and technology firms. These traditional financial institutions continue to dominate Hedgeweek’s institutional investment categories, setting a high benchmark for nominations in the space.

Several aspects of Ripple Prime’s business model have contributed to these nominations, including its technology resources, specialized services for niche markets, and its platform for emerging asset management firms. The Specialist Markets nomination is particularly notable, as digital assets are still an evolving segment for institutional investors compared to established markets.

Ripple Prime, through its expanded business model, is now recognized for its capabilities beyond traditional payment solutions—supporting digital asset trading and financial infrastructure for institutional clients.

Ripple Prime’s evolution and institutional expansionRipple Prime originated from Ripple’s acquisition of Hidden Road, a global prime brokerage and institutional credit provider, in 2025. The deal, valued at $1.25 billion, marked Ripple’s significant move into institutional finance and expanded its service offerings well beyond payments.

Hidden Road, founded in 2018 by Marc Asch, built a reputation as a specialized provider of prime brokerage services for hedge funds, proprietary trading firms, asset managers, and other institutional investors. After the acquisition, Hidden Road was rebranded as Ripple Prime, forming a dedicated institutional platform within the Ripple ecosystem.

Mini dictionary: Prime brokerage, in finance, refers to a bundled set of services offered by investment banks and other financial institutions to hedge funds and large professional investors. These services typically include trade execution, financing, securities lending, and consolidated reporting.

With this acquisition, Ripple Prime inherited Hidden Road’s institutional infrastructure, designed to support trading and financing across digital assets, foreign exchange, derivatives, and fixed income markets. This allowed Ripple Prime to extend its reach and services to a broader client base within institutional finance.

Ripple’s shift from payments to infrastructureRipple has long been known for developing blockchain-based payment solutions and the XRP Ledger (XRPL). Its primary product, Ripple Payments, has helped banks and enterprises facilitate global money transfers using blockchain. However, with the integration of Hidden Road’s business, Ripple has pivoted towards being a comprehensive financial infrastructure provider for institutions, aiming to serve a wider range of financial needs.

The Hedgeweek US Awards nominations reflect a growing recognition of firms focused on digital asset infrastructure, signaling the sector’s evolution as major institutions begin to adopt blockchain technology for more than just cryptocurrency exposure.

Broader industry significanceRipple Prime’s nominations come at a time when the institutional adoption of blockchain technology is accelerating. More traditional financial players are exploring digital asset markets in response to client demand and technological advancements. The competition and recognition at these awards indicate the increasing mainstream acceptance of digital asset-focused firms in established financial arenas.

Whether or not Ripple Prime takes home any of the four awards, its nominations suggest a significant shift in the industry, with digital asset platforms now recognized alongside traditional financial heavyweights.

CategoryRipple Prime StatusPrime Broker: Client ServiceNominatedPrime Broker: TechnologyNominatedPrime Broker: Specialist MarketsNominatedPrime Broker: Start-up & Emerging ManagersNominatedDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

XRP is approaching a critical technical juncture, with analyst Diana (@InvestWithD) spotlighting a tightening symmetrical triangle on the chart that could soon lead to a significant price move.

Symmetrical triangle pattern signals key breakoutDiana, a prominent market analyst known for her technical analysis on digital assets, described XRP as trading within a tightening symmetrical triangle, with price action confined by converging support and resistance lines. These trendlines have drawn closer over recent weeks, forming a pattern viewed by traders as a precursor to a large move once either side breaks.

Currently, XRP hovers near $1.1158, maintaining a structure of higher lows that indicate steady buying momentum despite consistent resistance near the upper boundary of the triangle. The asset has repeatedly challenged this level, highlighting the importance of the pattern’s apex for its next direction.

XRP continues to trade inside a tightening symmetrical triangle, with both resistance and support converging into a single decision point. Diana emphasized that this setup rarely persists for long without the asset committing to a decisive breakout.

The chart points to immediate resistance at $1.1184. Beyond this, a key barrier sits at $1.1453, where the descending trendline meets a historically significant resistance zone. Diana identified the $1.12 to $1.145 band as essential for bulls to reclaim in order to initiate further upside.

LevelFunction$1.1184Immediate resistance$1.12 – $1.145Breakout zone$1.20First upside target$1.30Major resistanceMomentum builds as triangle tightensThe analyst pointed to momentum indicators showing further signs of strength. According to Diana, the Relative Strength Index (RSI) is rebounding toward more bullish levels, while price action is consistently printing higher lows. She stated that these signals point to growing buyer interest as XRP’s trading range narrows.

As the triangle pattern nears completion, Diana expects a resolution in the pattern within the coming sessions. The asset will soon need to choose a direction, with a breakout targeting higher price levels if buyers prevail.

RSI is recovering toward bullish territory while price continues printing higher lows, suggesting momentum is building as XRP approaches a decisive moment in its symmetrical triangle pattern.

Upside targets and alternative scenarioShould XRP break above the $1.12 to $1.145 resistance area, Diana projects a move toward the $1.20 mark as the next key upside target. A further surge beyond $1.20 could open the door for a rally up to $1.30, a level that aligns with major historical resistance.

However, if the breakout fails and downside pressure returns, Diana pointed to the $0.90 to $0.87 demand zone as the next area likely to attract buyers. The asset remains within the triangle for now, with the market awaiting confirmation of direction as the pattern nears its end.

Mini dictionary: Symmetrical triangle, a chart pattern formed by converging trendlines of support and resistance, typically indicating a period of consolidation before a significant breakout in either direction.

Investors and traders continue to watch these levels as XRP approaches the apex, with a decisive breakout likely to set the tone for the next sustained trend.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

US authorities have initiated actions to seize more than $25 million in cryptocurrency linked to fraud schemes that targeted thousands of victims across the United States and Canada. The US Attorney’s Office for the District of Columbia and the US Secret Service Washington Field Office filed five separate civil forfeiture complaints on July 21, 2026, as part of a wide-ranging clampdown on international cyber fraud.

Thousands targeted in multiple schemesEach complaint stems from an independent investigation by the Secret Service’s Cyber Fraud Task Force, which has recovered over $800 million in recent years through coordinated operations. The Scam Center Strike Force, an interagency effort launched in November 2025 by US Attorney Jeanine Ferris Pirro, is spearheading these cases and focuses specifically on cryptocurrency-related investment fraud linked to Chinese transnational crime syndicates.

Jeanine Ferris Pirro stated, “This $25 million seizure is a direct result of the Scam Center Strike Force I launched in November 2025, and it demonstrates the power of aggressively targeting these international fraud networks.”

Jeanine Ferris Pirro emphasized that going after these organizations with stronger enforcement has produced real results, pointing to the $25 million seizure as testimony to the effectiveness of the Strike Force initiative.

Two of the five complaints account for the largest portion of funds identified. In one case, a private-sector partner alerted authorities to suspicious transactions. The investigation uncovered that over 200 individuals were victimized in online romance scams, with the complaint seeking to forfeit approximately $12.09 million in crypto.

Another complaint followed notification from Canadian law enforcement in late 2024 regarding suspect wallet addresses. Secret Service agents then froze the identified wallets and linked them to more than 270 victims who had been defrauded via fake investment platforms. This case involves around $10.4 million.

The remaining three complaints collectively cover the balance of the $25 million, all connected to illicit money flows traced to Southeast Asia. Investigators found that individuals moving the stolen cryptocurrency operated from this region.

Complaint TypeFunds SoughtNumber of VictimsSource/RegionRomance scam (US, Canada)~$12.09 million200+Private sector tipFake investment platforms~$10.4 million270+Canadian law enforcementOther complaint casesRemainder of $25 millionUnknownSoutheast AsiaCriminal syndicates and tacticsThe schemes were primarily orchestrated through a tactic known as “pig butchering,” where fraudsters patiently establish relationships of trust with their targets. Victims are then encouraged to acquire legitimate cryptocurrency, which is subsequently diverted into fraudulent trading platforms operated by organized criminal groups.

Mini dictionary: Pig butchering, a type of scam where fraudsters build trust and affection over time before convincing victims to invest in bogus crypto platforms or send cryptocurrency, which is then stolen.

According to previous US Justice Department findings, many scam operations are coordinated from heavily guarded compounds in Burma, Cambodia, and Laos. These facilities often exploit trafficked workers, who are forced to perpetrate digital fraud under threat.

Efforts by law enforcement have ramped up throughout 2026, following a surge in crypto-related investment scams. The Strike Force had seized $580 million as of February, climbing to more than $700 million by April. US prosecutors have recently brought charges against two Chinese nationals who allegedly operated a scam compound in Burma, following US Treasury sanctions imposed on Cambodian senator Kok An in April 2026 for his reported ties to criminal enterprises in the region.

Wider problem and outlookSoutheast Asian scam centers have reached a vast scale, with US officials estimating the yearly haul from such operations targeting Americans to be as much as $10 billion. FBI reports indicate that in 2025 alone, US residents lost approximately $21 billion to cyber-enabled crimes and digital fraud.

Authorities have stated their intent to pursue asset forfeiture through court actions and aim, wherever possible, to return recovered funds to verified victims.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Two key divergences show why Ethereum’s [ETH] outperformance against Bitcoin [BTC] may only be beginning.

Notably, Lookonchain flagged consecutive whale accumulation, with one whale withdrawing over 74,000 ETH and another more than 10,000 ETH. The key detail? Both whales staked 100% of the ETH they accumulated, marking a clear divergence from a typical whale accumulation setup. Simply put, instead of leaving the ETH idle, they’re locking it into staking, reducing the liquid supply while signaling long-term conviction.

Ethereum’s staking data only reinforces that trend. As the chart below shows, the validator exit queue currently sits at zero, while the entry queue has climbed to 2.4 million ETH. At the same time, total staked ETH has climbed to a record 40.8 million, with 33.5% of the total ETH supply now sitting in staking. To put that into perspective, users have added nearly 600,000 ETH to staking in less than ten days.

Source: ValidatorQueue In that context, these two whales staking 100% of their newly accumulated ETH isn’t an isolated event. 

Instead, it aligns with a broader trend of supply being locked away, further tightening liquid ETH as staking demand continues to grow. And the impact is starting to show on the technical side.

On the daily chart, the rise in ETH staking flows has lined up with ETH/BTC breaking above the 0.025 resistance level, showing that stronger supply dynamics are beginning to translate into better Ethereum performance against Bitcoin. 

Now, looking at the second divergence. While staking flows highlight long-term conviction, Ethereum’s DeFi ecosystem adds another important layer by shaping liquidity and on-chain activity across the network, creating another tailwind for Ethereum’s performance against Bitcoin.

Ethereum accumulation signals a bigger move  Random accumulation doesn’t really mean much on its own. 

However, Ethereum’s whale accumulation is telling a much bigger story. While staking flows support long-term conviction, combining that with strong DeFi flows adds another layer of strength to Ethereum’s ecosystem. Currently, this combination could be highlighting ETH’s underlying demand.

As the chart below shows, Wrapped Ethereum (WETH) recorded 113k whale transactions above $100k over the past week, marking its highest level since May 2021. This shows that large players are becoming more active on-chain. With Ethereum’s TVL also increasing by over $5 billion in less than ten days, the data points to rising liquidity and stronger activity across the Ethereum ecosystem. 

Source: Santiment And the impact is starting to show. 

On the technical side, Ethereum just posted its strongest weekly close against Bitcoin in eleven weeks. With the ETH/BTC ratio now approaching the key 0.03 resistance zone, the ongoing supply squeeze is adding more strength to the breakout setup, setting the stage for the next leg of ETH’s outperformance against BTC.

Final Summary Whales are buying ETH and locking it into staking, reducing available supply while DeFi activity continues to grow. ETH/BTC is showing strength, with the ratio nearing key resistance as supply tightening supports a potential breakout.

Russia opens crypto market to retail investors with restrictions

Updated Jul 21, 2026, 6:27 p.m. Published Jul 21, 2026, 5:54 p.m.

2 min read

Summary

Movement Labs, the developer of the Movement blockchain, has filed for Chapter 11 bankruptcy.The project came under scrutiny after a market-making deal enabled the rapid sale of 66 million MOVE tokens, triggering a steep price drop and prompting investigations and a token buyback.Movement Labs, the developer behind the Movement blockchain, has filed for Chapter 11 bankruptcy, marking the latest setback for a crypto project that has spent much of the past year navigating governance disputes, a token market-making controversy and a failed strategic reset.

The company said in a bankruptcy filing that it had under 1,000 creditors, somewhere between $100,000 and $500,000 in assets and north of $1 million in liabilities. Its largest creditors include co-founder Rushi Manche, the Delaware Division of Revenue, Anchorage Digital and other entities.

The filing follows months of turmoil for Movement, an Ethereum layer-2 network built using the Move programming language, which was originally developed at Meta. The project launched with the goal of bringing Move-based smart contracts to Ethereum (ETH) while offering faster and cheaper transactions through a scaling network.

Its troubles began shortly after the December launch of the MOVE token.

An April 2025 CoinDesk investigation found that Movement was examining whether it had been misled into signing a market-making agreement that handed a single counterparty unusual influence over MOVE's circulating supply. Internal documents reviewed by CoinDesk at the time showed the arrangement allowed 66 million MOVE tokens to be sold into the market one day after the token debuted, contributing to a sharp decline in price.

The controversy centered on Rentech, a little-known intermediary that appeared in contracts connected to Chinese market maker Web3Port. According to documents obtained by CoinDesk, Movement executives later questioned whether the foundation believed Rentech was affiliated with Web3Port when it was not. Rentech has denied any wrongdoing or misrepresentation.

The fallout extended beyond Movement. Binance banned the market-making account involved in the token launch for what it described as misconduct, while Movement launched a token buyback program and hired outside firm Groom Lake to review the events surrounding the deal.

Movement Labs and co-founder Rushi Manche separated in May 2025.

More recently, the company attempted to chart a new course.

In June, Move Industries, a separate legal entity from MVMT Labs, the company that filed for bankruptcy, announced it would pivot away from competing with other Ethereum scaling networks and instead focus on cross-border payments, remittances and stablecoin settlement. The company said it had secured access to licensed payment infrastructure in the U.S., Canada and the European Union as it sought to build services aimed at emerging markets.

The strategy reflected a wider trend across the crowded layer-2 sector, where blockchain projects have increasingly shifted toward real-world financial applications as competition among scaling networks has intensified.

UPDATE (July 21, 2026, 17:58 UTC): Adds additional detail.

CORRECTION (July 21, 2026, 18:26 UTC): Corrects that Move Industries and not Movement Labs pivoted from Ethereum scaling.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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TRON Network - Q2 2026

TRON Network - Q2 2026

In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.

11 hours ago

In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.

Why it matters:

In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.

21h05 ▪ 5 min read ▪ by Luc Jose A.

Summarize this article with:

Ethereum has just regained a level of dominance it had not reached for months. By crossing again the 10% threshold of the total market capitalization, the second largest global crypto records a surge that exceeds that of the ten biggest assets over a week. This comeback reignites speculations about a new bullish phase, especially since no major event seems, at first glance, to explain such a movement.

In brief Ethereum rises back above the 10% global crypto market dominance threshold. A nearly 9% increase in one week, outperforming Bitcoin and the entire top 10. Arthur Hayes invests more than 2.5 million dollars in Ether for the second time in one month. More than 75% of block transactions on derivatives are oriented towards call options. Ether: the spot market’s upswing Market data confirm a clear acceleration of Ethereum’s valuation, whose market capitalization now stands around 233.2 billion dollars. This recovery fits into a positive overall dynamic, with the total crypto capitalization having appreciated by nearly 2% to slightly exceed 2.34 trillion dollars.

In his analysis note released on July 21, Markus Thielen, analyst at BIT, describes crossing this 10% market share as a psychologically important threshold. The analyst furthermore notes that such a recovery in ETH dominance has historically coincided with favorable buyer phases, although he emphasizes that this time there was no immediate catalyst behind the rise in this dominance. Over 24 hours, the asset recorded an increase of more than 4%, confirming several days of continuous buying pressure.

On a weekly time scale, Ether tops the ranking of the ten largest cryptos by market capitalization. Spot market indicators highlight this momentum :

7-day performance : an increase of about 8.8%, keeping the price well above 1,900 dollars ; 30-day performance : a cumulative gain exceeding 12%, clearly outpacing the rest of the market ; Top 10 comparison : a clear outperformance against XRP (+6%) and Bitcoin (+5.7%) over the same weekly period ; Trading volume : a spectacular rise of more than 31% in daily volume reaching 11.6 billion dollars. Whale accumulation and macroeconomic context While the spot market reflects the price appreciation, the explanation of the movement also lies in large investor transactions and BIT’s weekly report macroeconomic interpretation. BitMEX co-founder Arthur Hayes made an impression by spending more than 2.5 million dollars to acquire 1,332.5 ETH, a transaction performed following a first massive purchase of 1,293 tokens on June 16 for a similar amount. This direct investment by a major industry figure illustrates the return of buyer appetite focused on Ether.

At the same time, the macroeconomic environment played a decisive supporting role. According to BIT’s study, the situation cleared up thanks to U.S. inflation figures which corrected a difficult start of the week marked by geopolitical tensions between the United States and Iran, temporarily pushing Bitcoin below 62,000 dollars.

Thanks to this respite, Bitcoin closed the week above 65,000 dollars (+4%), while Ethereum posted more than 7% over the same period. This second consecutive week of ETH outperformance versus BTC brought the ETH/BTC ratio to 0.0293, moving clearly away from its low point of 0.0264 recorded in June.

Derivative market structure and investor behavior Analysis of the internal structure of derivative markets provides essential insight into understanding the exact nature of this rise. Unlike chaotic speculative bubble phases, perpetual funding rates have remained close to neutral despite recent price increases, and implied volatility has stayed relatively contained. This indicates that the market is not disturbed by excessive leverage, which theoretically gives greater robustness to the current price structure.

Furthermore, the BIT report reveals a distinct strategy depending on the typology of options market participants. Institutional actors have clearly favored call options, which represent more than three-quarters of block trades made on Ether. On their side, retail investors have mainly oriented towards “call spreads” strategies, aiming to expose themselves to upside potential while capping their entry cost and risks.

Ultimately, Ethereum’s reconquest of the 10% dominance threshold witnesses a strategic and structured liquidity reallocation rather than a wave of irrational euphoria. The neutrality of funding rates, coupled with the massive repositioning of institutional investors on derivatives and whale accumulation, lays healthy technical foundations. Although the absence of a unique fundamental catalyst calls for caution, the firmness of the ETH/BTC ratio and strength of spot volumes indicate that Ether has solid arguments to maintain its tactical leadership in the forthcoming sessions.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Athens, Greece, July 21st, 2026, FinanceWire

Definica today introduced its Ethereum-native protocol, designed to connect ETH staking with liquidity and, over time, collateralized borrowing infrastructure. The protocol’s initial product is a pooled ETH staking layer built on established Ethereum infrastructure, with additional liquidity and borrowing modules planned for subsequent phases of development.

The Ethereum-native protocol is being developed to connect ETH staking with productive liquidity and, over time, collateralized borrowing markets, beginning with a pooled staking layer built on proven infrastructure.

What happens to ETH after it is staked? For many participants, it earns staking rewards. Definica is being developed around the concept that the same staked position could eventually become part of a broader liquidity and borrowing framework while remaining connected to Ethereum’s staking economy.

The protocol is being developed as an Ethereum-native infrastructure layer designed to connect ETH staking with productive liquidity and, in later phases, collateralized borrowing markets. Rather than introducing every planned component simultaneously, Definica begins with the foundation of pooled ETH staking.

A Staking Layer Built on Proven Infrastructure

In the first stage, users will be able to deposit ETH through the Definica interface and gain proportional exposure to rewards generated by Ethereum validator activity. Deposited assets are grouped within a dedicated staking structure, with each participant’s position determined by their share of the total pool. Rewards from validator operations are distributed proportionally among participants, influenced by protocol fees, validator performance, and the general conditions of Ethereum staking.

As part of this setup, Definica plans to integrate a dedicated StakeWise Vault. The vault-based system provides established infrastructure for ETH deposits, validator management, reward tracking, and withdrawal processing, giving the protocol a foundation for its initial staking layer.

From Staking Foundation to Liquidity Framework

Staking is intended as the starting point rather than the endpoint. Definica’s longer-term aim is to build additional financial infrastructure around staked Ethereum, allowing these positions to participate in a larger on-chain ecosystem instead of remaining confined to a single staking product.

As the protocol develops, its initial staking layer is expected to support osETH integration with Aave-compatible liquidity markets, aEthosETH positions, the Main Liquidity Module, protocol incentives, and eventually borrowing markets built around ETH-linked collateral. Within this system, osETH is StakeWise’s liquid staking token, while aEthosETH represents osETH supplied to an Aave liquidity market. These components are intended to connect Definica’s staking foundation with the liquidity mechanisms planned for later phases.

A Modular, Phased Design

Definica plans to build the protocol step by step, keeping the initial staking layer distinct from future liquidity and borrowing components. This modular design is intended to allow each part of the system to be reviewed, tested, and deployed independently as the ecosystem expands.

Security and Transparency

Definica states that security and transparency remain central to its approach. The project intends to emphasize transparent on-chain accounting, clearly defined protocol roles, limited administrative rights, and independently audited smart contracts. It also plans to use static core contracts where possible and to publicly disclose risks associated with staking and third-party integrations.

Roadmap

Phase 1 — Establish pooled ETH staking. Phase 2 — Introduce the Main Liquidity Module and aEthosETH functionality. Phase 3 — Introduce borrowing infrastructure for ETH-correlated collateral. By starting with Ethereum staking and gradually building layers around it, Definica positions its first product not as the final goal but as the entry point into a broader liquidity framework. The question is no longer only whether ETH can earn staking rewards — it is what else that staked capital might eventually accomplish.

About Definica

Definica is an Ethereum-native protocol in development, designed to connect ETH staking with liquidity and, over time, collateralized borrowing infrastructure. The project’s initial product is a pooled ETH staking layer, with liquidity and borrowing modules planned for subsequent phases.

Explore Definica and follow the protocol’s development at Definica.com.

Ether (ETH) climbed to $1,950 on Tuesday for the first time in seven weeks, resulting in $62 million worth of liquidations among leveraged bearish positions. This marks a 29% gain from its recent low of $1,500 on June 26, mirroring a broader shift toward risk-on sentiment that also sent Bitcoin (BTC) above $66,500. With this upward momentum, market participants are watching closely to see if ETH can break through the $2,100 threshold.

Equities rally and tech earnings drive optimismMajor gains across the US stock market on Tuesday helped ease concerns about overheated valuations following a strong rally in artificial intelligence-linked stocks. Traders are increasingly optimistic about the upcoming wave of corporate earnings, particularly after 3M Company reported earnings results on Tuesday morning.

Alphabet, the parent company of Google, is also set to release its quarterly results on Wednesday once the markets close. Analysts are looking for 64% growth in the company’s cloud services, driven by robust investment in artificial intelligence. Positive earnings could boost investor confidence and provide fresh impetus to the cryptocurrency market. Some see a strong tech performance as key in helping push total crypto market capitalization back above the $2 trillion mark.

Ethereum’s onchain metrics reveal stagnant demandDespite the recent increase in price, Ethereum’s onchain metrics remain weak. Data show that demand for blockchain processing has not bounced back to levels recorded six months ago. The decline correlates with decreased interest in memecoins and utility tokens, leading to significant losses in prominent projects such as Ethena (ENA), Mantle (MNT), and Arbitrum (ARB), each down over 50% year-to-date.

Weekly revenue generated by Ethereum decentralized applications (DApps) dropped to $9.8 million, the lowest level since September 2024. One of the best performers, Sky (previously known as MakerDAO), earned $3.2 million, while Chainlink brought in $1.2 million in the same period. Overall, decentralized exchange (DEX) volumes fell to $7.2 billion weekly, highlighting ongoing trader caution.

MetricCurrent Value6 Months AgoDApps Weekly Revenue$9.8 millionHigherDEX Weekly Volume$7.2 billionHigher% of ETH Staked34%~27%Ethereum’s onchain stagnation is also reflected in subdued derivatives activity.

Derivatives data and staking trendsThe annualized funding rate for ETH perpetual futures has struggled to stay within the neutral 6% to 12% range over the past month. However, this marks an improvement from the negative rates seen in late June, which indicated strong bearish pressure.

Growing enthusiasm for Ethereum staking has contributed to a shift in trader sentiment. Data from Staking Rewards show that 34% of the total ETH supply is currently staked, up from 33% just one month ago. Bitmine Immersion, a company led by Tom Lee, has accumulated 156,719 ETH in the past month and now holds 4.8% of the available supply.

Analysts believe that increased staking reduces sell pressure, as more ETH is locked in staking contracts and less is available for trading. Despite these positive signals, ETH remains 61% below its all-time high from August 2025, which has left traders cautious about the potential for a sustained rally.

Ether’s ability to reach and hold the $2,100 mark may hinge on a further reduction in overall risk aversion, especially as markets await Google’s revenue guidance on Wednesday evening.

Recent Ethereum price gains have not been matched by a recovery in onchain activity, with DApp revenue and DEX volumes reaching multi-month lows even as staking participation sets new records.

Mini dictionary: Bitmine Immersion — a digital asset infrastructure company led by financial analyst Tom Lee, specializing in large-scale cryptocurrency mining and staking management.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Is AI Money Rotating Into Ethereum? Tom Lee Cites 72% Outperformance

Ark Invest purchased 16,665 shares of Securitize on Tuesday, worth approximately $125,700.

According to market data from BIT (bit.com), Ark Invest, the firm led by Cathie Wood, purchased 16,665 shares of Securitize (ticker: SECZ), BlackRock’s real-world asset (RWA) platform, on Tuesday, for a total value of approximately $125,700. SECZ gained 13.9% that day, closing at $7.54.

8 minutes ago

Trump endorses crypto ethics bill: Prohibits federal officials from issuing cryptocurrencies, with the U.S. Department of Justice serving as the lead enforcement agency.

According to multiple sources familiar with the matter, the crypto ethics provision signed by Trump will bar federal officials—including members of Congress, the president, and vice president—from issuing digital assets, and designate the U.S. Department of Justice (DOJ) as the primary enforcement authority for the provision, rather than state attorneys general. This arrangement could become a new point of contention in advancing the CLARITY Act, as Democrats have long argued that states should retain certain enforcement powers. Maryland Democratic Senator Angela Alsobrooks, one of the lead negotiators for the bill, issued a statement earlier Tuesday: “The DOJ enforcing ethics provisions? This is not a serious proposal. If the language stays this way, I will not support the bill.” Her concerns over enforcement powers specifically target Trump’s personal meme coin and his family’s firm, World Liberty Financial. The ethics provision has been the final sticking point for the CLARITY Act after months of legislative hurdles. Patrick Witt, a senior White House advisor for crypto affairs, revealed the details of the ethics language during an industry call on Tuesday afternoon. The White House has not confirmed the exact text, but an official attributed the potential impasse to Democrats in an email: “If Senate Democrats block this historic legislation after the administration has gone to great lengths to accommodate their concerns, industry players should recognize that it is Democrats holding up the bill, as they have never taken legislative outcomes seriously.” Currently, both sides continue negotiations based on the current draft, and it remains unclear whether an agreement can be reached before the Senate adjourns.

8 minutes ago

A crypto whale closed out a $35 million long position in MU, booking a profit of $1.71 million.

According to EmberCN's monitoring, a whale went long on Micron Technology worth $35 million yesterday, and closed the position six hours ago, locking in a profit of $1.71 million. The entry price was $918, and the exit price stood at $964.

8 minutes ago

SpaceX ends 7 straight daily losses; Rocket Lab rises over 12% cumulatively today.

According to market data from BIT (bit.com), U.S. space stock Rocket Lab (RKLB) closed up 5.14% and gained over 7% in after-hours trading. The company has secured a $266 million contract from the U.S. Air Force to launch 12 suborbital vehicles, with an optional additional 6 launches. The missions will be conducted in Alaska and are scheduled for completion by the end of 2028. Separately, SpaceX rose more than 3%, ending its 7-day consecutive losing streak, and added another 1.3% in after-hours trading. SpaceX will release its Q2 2026 earnings report and hold a live earnings webcast on August 4, with the market currently focused on Starship’s next test flight.

8 minutes ago

Crypto whale sets 10 take-profit targets, locks in approximately $6 million in profits via position closures, and reaffirms its bullish trend outlook remains unchanged.

Contract whale "First Set 10 Big Goals" closed out its position for profit in the early hours, earning $6.019 million. The trader held an actual long position of 4,006.47 BTC, with the $258 million long position opened at $64,614.7 and closed at $66,160.47. "The uptrend remains intact; I’m locking in profits on this trade to secure gains and will take a two-day break," the trader said. Per on-chain analyst Ai Yi (@ai_9684xtpa), "First Set 10 Big Goals" has accumulated $9.96 million in profits from four long trades since June 25, with three wins and one loss, moving closer to its 10 big goals. Yesterday, the trader noted that in its previous round, it used 150 BTC to open positions targeting $150 million, hitting a maximum realized profit of $120 million. However, it misjudged the direction during a pullback from $120,000 at the last minute, wiping out all profits and ultimately preserving its principal plus a small gain. For this round, it used 300 BTC to open positions targeting $300 million, and has now realized $60 million in profits.

8 minutes ago

SK Hynix surged 8.7%, and Korea Exchange activated the suspension of program trading for the KOSPI index.

According to Bitget market data, South Korean exchanges have activated the algorithmic trading pause mechanism for the KOSPI index. The KOSPI index is currently up 5.85%, Samsung Electronics rose 5.6%, and SK Hynix gained 8.7%.

8 minutes ago

On-chain analysis showed no increase in NIGHT's total supply, suggesting the selloff was linked to existing tokens rather than new issuance.

NIGHT, the token behind Cardano’s privacy-focused Midnight network, plunged more than 43% earlier today to hit an all-time low of $0.01524.

Speculation then mounted that the Midnight blockchain may have been hacked, causing the steep selloff, but according to The Midnight Foundation, the price drop came after roughly 2% of NIGHT’s supply was moved out of a two-year-old contract tied to Wanchain’s Cardano-to-BNB Chain bridge.

Foundation Says Blockchain Was Not Hacked Independent on-chain researcher Paul was among the first to flag the withdrawal and noted in his preliminary findings that between 14:46 and 14:55 UTC on Monday, some 515 million NIGHT tokens had been withdrawn from a contract identified as Wanchain’s Cardano-side bridge lock address, which backs the Wanchain-wrapped NIGHT on BNB. Nothing else in that contract, including Mynth, XER, and WMT, was touched.

According to his analysis, around 290 million tokens were then sold across decentralized exchanges, sending the price down, while another 200 million were transferred to a second wallet, leaving what he described as a large unsold overhang. Furthermore, he said that the total NIGHT supply itself did not change, meaning no new tokens had been minted.

Soon after, the Midnight Foundation published a community update on X, saying it was aware of reports involving the Wanchain Cardano-to-BNB bridge and stressed that the available information pointed to a cross-chain bridge issue and not a problem with the Midnight network. It also urged users to only rely on official updates and to watch out for phishing attempts while investigations were going on.

In a second statement, issued a few hours later, the organization confirmed that Midnight’s protocol, validator network, consensus mechanism, and core infrastructure were all operating normally.

CoinGecko data shows that before the plunge, NIGHT had traded as high as $0.026, with the sudden sale of 290 million tokens dragging it down to $0.01524, its lowest ever price level. It has since pulled back some of those losses and was trading more than 28% above that ATL at the time of writing, although it was still 27% in the red over 24 hours. It has also erased all the gains it had made in the last year and is about 34% lower than where it was a week ago.

You may also like: Scammer Makes $135K After Hijacking SpaceX, Starlink Accounts to Shill Meme Coin Charles Hoskinson Says Ethereum Is Adopting Cardano Ideas Without Credit Was It a Hack or Governance? BONK’s $21M Treasury Vote Divides Crypto Bridge Security Back in the Spotlight Cardano co-founder Charles Hoskinson also weighed in, saying an automated alert on his phone had flagged NIGHT’s unusual price action, after which the Midnight Foundation and other parties set up an informal war room to track the situation as it unfolded.

His message boiled down to three points: that Midnight’s own smart contracts had kept on running without interruption; the problem came from one of the four components in Wanchain’s bridge architecture; and that the industry needs to be more vigilant given how fast AI tools can now find such flaws.

According to Hoskinson, bridge infrastructure is one of the weakest points in crypto because it depends on trust assumptions outside the underlying blockchain. But he believes that technologies, including zero-knowledge proof-based bridges and trusted execution environments, as well as multisig systems, could reduce such risks.

His point on AI is something OpenZeppelin co-founder Manuel Aráoz touched on in late May, when he warned people to get out of DeFi, saying AI-powered coding agents have tilted the security game in favor of attackers, making it difficult for any protocol to hold user funds with any level of confidence. DeFi Investor, an analyst who monitors the sector, repeated the warning recently when Anthropic announced the launch of its Mythos AI, which experts say is extremely good at finding software vulnerabilities.

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In brief Jack Mallers stepped down as CEO of Twenty One Capital, announcing his return to Bitcoin payments firm Strike—which will remain an independent company. Tether's plan to merge Twenty One, Strike, and Elektron Energy into a single publicly traded Bitcoin giant has been abandoned. XXI shares fell nearly 18% on Tuesday, extending a decline that has taken the stock down more than 80% from its highs of last year. Jack Mallers has stepped down as CEO of Twenty One Capital, and investors didn't take it well.

Shares of the Bitcoin treasury company—a publicly traded firm that holds Bitcoin on its balance sheet, letting regular investors gain exposure to the cryptocurrency without buying it directly—dropped nearly 15% on Tuesday.

Mallers co-founded Twenty One alongside Tether—the issuer of USDT, the world's most widely used dollar-pegged stablecoin (a digital token that holds a fixed value of one dollar and functions as the backbone of crypto trading)—and listed the company on the New York Stock Exchange in December 2025 through a SPAC merger. A SPAC, or special purpose acquisition company, is a blank check shell firm created specifically to take other companies public faster than a traditional IPO allows.

Twenty One still holds 43,514 BTC. At current prices, that balance sheet is worth more than $4 billion, ranking it second among all public companies for Bitcoin holdings, just behind Michael Saylor's Strategy. Strategy is the company that effectively pioneered the corporate Bitcoin treasury playbook in 2020—borrowing money to buy Bitcoin at scale and daring anyone to tell them it was a bad idea.

The merger that never happenedMallers' exit comes packaged with worse news. Tether's plan to merge three Bitcoin businesses into a single publicly traded entity has officially collapsed, per Bloomberg. The proposed combination would have united Twenty One's treasury operations, Strike's Bitcoin payments and lending platform (which operates in more than 100 countries), and Elektron Energy's mining infrastructure under one publicly listed company.

Tether first pitched the idea in April 2026 at the Bitcoin Conference, and Mallers endorsed it publicly. As Decrypt reported, the deal was billed as a move to create "the premier listed Bitcoin company in the world," combining mining, payments, and treasury management in one stock. Mallers was set to lead the combined entity; Elektron Energy founder Raphael Zagury was slated to become president.

That structure is done. Strike will remain a standalone company. Twenty One and Elektron are still in early discussions about a potential two-way deal, but no agreement has been confirmed or guaranteed.

Mallers kept it brief on X. "This wasn't an easy decision, but it was the right one," he wrote. "My life's work remains Bitcoin. My Bitcoin company is Strike. The work continues."

I've decided to step down as CEO of Twenty One.

This wasn't an easy decision, but it was the right one. This experience brought tremendous clarity about who I am and what I want to build.

My life's work remains Bitcoin. My Bitcoin company is @Strike.

The work continues. pic.twitter.com/L70YFYPt11

— Jack Mallers (@jackmallers) July 21, 2026

Raphael Zagury—founder of Elektron Energy and a former managing director at Deutsche Bank and Merrill Lynch and a vice president at Goldman Sachs—has been named the new CEO. His message to investors sounds nothing like Mallers'.

Where Mallers built Twenty One’s identity around aggressive Bitcoin accumulation, Zagury is promising institutional discipline. Per Tether's official announcement, Zagury said Twenty One "should be measured by the cash flow it generates and the discipline with which it allocates capital."

Bitcoin treasury companies as a category have faced growing skepticism since their initial surge. Twenty One company shares hit a 52-week high of $31.51 before sliding to a low of $4.81. In May 2026, Tether moved to consolidate control by buying out SoftBank's roughly 25% stake—a position the Japanese investment giant had originally paid $999.3 million to acquire.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

United Stables has appointed Chainlink as the official data oracle and cross-chain infrastructure provider for its U stablecoin, which is expanding operations across BNB Chain, Ethereum, and TRON. The partnership aims to enhance the reliability of market data, transparency of reserves, and seamless interoperability as U’s footprint grows among major blockchain networks.

Integration aims to boost transparency and efficiencyExecutives at United Stables stated that the current supply of the U stablecoin has exceeded $1 billion, with daily trading volume surpassing $2.5 billion. The company is working with Chainlink to ensure real-time access to transparent market data and to provide accurate reserve information, key factors regarded as vital to maintaining user trust amid rapid adoption.

In addition to the initial integration with Chainlink’s data oracles, United Stables plans to introduce Chainlink’s Cross-Chain Interoperability Protocol (CCIP) in the future. The goal is to simplify transfers between multiple blockchains and reduce friction in managing liquidity across different networks.

U is structured as a US dollar-pegged stablecoin, backed by a mix of fiat and digital assets held with regulated custodians. United Stables reported that its total value locked (TVL) climbed above $1 billion within three months of launch, making it one of the larger new entrants in the market.

Mini dictionary: Chainlink, a leading decentralized oracle network, provides tamper-proof external data to smart contracts on various blockchains, supporting secure and reliable cross-chain communication.

Reserve transparency in the spotlight for stablecoinsThe rapid rise of algorithmic and asset-backed stablecoins has intensified the focus on reserve transparency. Incidents in recent years, such as the collapse of TerraUSD in 2022 and the brief depegging of USDC in 2023, have highlighted the potential for loss of investor confidence if questions arise about what backs a stablecoin or where reserves are held.

For example, USDC dropped below $0.90 when Circle revealed $3.3 billion of its reserves were at the failed Silicon Valley Bank. The situation stabilized after US regulators intervened to secure depositors, but the episode demonstrated how stablecoins are susceptible to confidence-driven volatility even if the blockchain infrastructure itself remains secure.

Real-time and verifiable reserve reporting is quickly becoming a minimum expectation for any stablecoin aiming for large-scale adoption. The presence of transparent market data and reliable reserve audits is now often as important as the number of exchanges supporting a coin.

Although United Stables emphasizes transparency, stability ultimately depends on the quality and accessibility of reserves during times of stress. Users are cautioned to consider not only reported figures but also the nature, location, and liquidity of backing assets.

Liquidity and utility remain critical for adoptionDespite its $1 billion reported supply, U faces the ongoing challenge of increasing active circulation. The practical value of a stablecoin depends on its real-world utility, including liquidity in decentralized finance (DeFi) protocols, ease of use across exchanges, and reliability for large transfers without significant price impact.

Chainlink recently launched a market data product designed to facilitate the integration of U.S. equities and other traditional assets into blockchain applications. This could further strengthen the infrastructure available for stablecoins such as U by allowing greater access to off-chain data and assets in decentralized systems.

StablecoinCirculating SupplyReserve TransparencyBlockchain SupportU$1 billionReal-time via ChainlinkBNB Chain, Ethereum, TRONUSDCOver $24 billionRegular attestationEthereum, Solana, othersTerraUSD (historical)N/A (collapsed)Algorithmic (failed)Terra NetworkUnited Stables positions itself as a high-transparency stablecoin for multi-chain adoption. However, ongoing scrutiny of reserves and the utility of U across decentralized applications will likely define its long-term role in the growing sector.

As stablecoins expand their reach, user confidence hinges not just on transparent reserves, but also on the availability of robust liquidity and reliability under stress.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

After a decline that dominated the majority of the year, XRP is alive again. On the daily chart, the asset, which is currently trading at $1.13, has clearly formed an ascending triangle. This pattern is frequently linked to bullish continuation or reversal attempts. 

The structure indicates that buying pressure is steadily building even though the breakout has not yet happened. The sequence of higher lows that have developed throughout July is the most prominent aspect of XRP's present configuration. There is a rising support line beneath price action because buyers have been drawn to each pullback earlier than the last. 

XRP/USDT Chart by TradingViewConcurrently, XRP is still testing resistance from a group of moving averages that are directly above it. Usually, a powerful directional movement resolves this compression between support and resistance. Near the 50-day EMA at $1.17 is the first significant barrier. The focus would shift to the 100-day EMA around $1.24 if a close above that level were successful. 

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After that, bulls would move on to the psychologically significant $1.30 area. Additionally, momentum indicators are improving. After months of weakness, the RSI has risen above the neutral 50 level, indicating a change in sentiment. However, trading volume is still low, suggesting that the market is still awaiting confirmation before making large capital commitments. 

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While XRP is trading below its longer-term moving averages, especially the 200-day EMA around $1.44, the overall trend is still negative. However, this is one of the strongest price structures seen in a few months. 

XRP may enter a much longer recovery phase if buyers are able to overcome the current resistance. On the other hand, the asset would be vulnerable to another decline toward the $1.05–$1.00 support zone if the rising trendline support were lost, invalidating the bullish setup. 

Cardano's recovery potentialOne of Cardano's longest stretches of persistent weakness is slowly coming to an end. ADA, which is currently trading at $0.175, has spent the past few weeks regaining important short-term moving averages while laying a foundation above its June lows. The technical picture has significantly improved, even though the asset is still far below significant long-term resistance levels. 

ADA's breakout from the horizontal consolidation range that dominated price action for the majority of the spring is among the most significant developments. Before eventually drawing enough buying pressure to move higher, the asset moved sideways for months in the $0.15-$0.16 area. A higher low structure was established by that breakout, which also turned the momentum back to buyers. 

ADA/USDT Chart by TradingViewFollowing the initial recovery rally, price action has stabilized thanks to the support provided by the 20-day and 50-day EMAs. In the meantime, the RSI has risen above 56, suggesting that bullish momentum is getting stronger without getting close to overbought territory. If market conditions continue to be favorable, this allows for further upside. The next important level is located around $0.20, close to the 100-day EMA. 

This region denotes a significant psychological threshold as well as technical resistance. ADA's outlook would be greatly enhanced by a clear move above $0.20, which might also lead to a wider advance toward the $0.22-$0.25 range. 

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Additionally, volume activity has improved since the first half of the year, indicating a resurgence of market participation. Even though the long-term trend is still improving, ADA seems to be building a foundation for a more significant reversal later in the year. 

The $0.16 support zone is still crucial for the time being. The current recovery will continue as long as Cardano stays above that area, and there is a high likelihood that it will continue to rise toward higher resistance levels. 

Stellar's clear recoveryAmong the major altcoins, Stellar is quietly building up one of the cleanest recovery structures in a while. After rising from its June lows, the asset has been consolidating above important moving averages for the past few weeks, currently trading close to $0.19. The technical picture has significantly improved since the first half of the year, even though the overall trend is still cautious. 

The convergence of the 20-, 50-, and 100-day EMAs around current price levels is one of the most significant developments. This compression frequently indicates an impending increase in volatility, and XLM seems to be getting close to that turning point. Despite multiple attempts by sellers to drive it lower, the asset has consistently maintained the $0.18 support zone. Market participants are once again paying attention to Stellar, as evidenced by the enormous volume spikes in June. 

XLM/USDT Chart by TradingViewEven though those rallies were initially rejected, the pullbacks that followed did not result in lower lows, indicating that buyers are progressively absorbing supply. This narrative is supported by momentum indicators. Before overbought conditions become a concern, the RSI is holding close to 52, providing ample opportunity for additional upside. 

The next targets appear close to $0.23 and $0.25, where prior rallies stalled, if bulls can push XLM above the $0.20–$0.21 resistance zone. The key level is currently $0.18. By staying above it, the recovery is maintained and the potential for a more significant trend reversal is preserved. 

Any significant breakout attempt would be postponed if there were a breakdown below that support, which would probably draw attention back to the $0.16 region. 

Bitcoin is reboundingThe top cryptocurrency, Bitcoin, is currently trading at about $66,300 as it continues to rebound from its severe decline in June. After being under pressure for weeks, Bitcoin has finally started to establish a sequence of higher lows, indicating that buyers are progressively taking back control of the market. 

BTC/USDT Chart by TradingViewBitcoin's market structure has significantly improved as a result of the recent recovery, which has propelled it back above both its short- and medium-term moving averages. But the biggest obstacle is still directly above. Throughout the recent decline, the 100-day EMA, which is now close to $68,000, has frequently halted attempts at upside. 

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This means that in the near future, the $68,000 area will be the crucial battlefield for Bitcoin. A clear breakout above it could pave the way for the $72,000-$75,000 range and greatly bolster bullish momentum. After months of decline, such a move would also put BTC back in a stronger medium-term trend.

The RSI has risen above 60, indicating a rise in buying pressure without entering overheated territory. Additionally, volume has stabilized, indicating that the panic selling that occurred in June has mostly stopped. 

Support between $63,000 and $64,000 is still crucial on the downside. The current recovery is sustained as long as Bitcoin stays above that range. Whether Bitcoin can reclaim the $68,000 mark and demonstrate that a more sustainable advance is in progress is currently the market's main concern.

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Zcash (ZEC), a privacy-focused cryptocurrency, has shown signs of recovery from recent lows, but analysts remain cautious as the coin tests a firmly established resistance area. The price action suggests that further upside depends on whether buyers can overcome the current supply barriers with sustained momentum and increased trading volume.

ZEC faces key resistance after reboundRecent analysis highlights a major resistance zone for ZEC in the $550 to $580 range, a region where the asset previously encountered intense selling pressure. Trader @0xWhaleHL observed that ZEC corrected after retesting the lower boundary of this supply zone, confirming it as a pivotal level limiting upward progress.

Charts from Binance perpetual futures illustrate that the 200-period exponential moving average (EMA) on both the 4-hour and daily timeframes adds further weight to this barrier. These overlapping resistance levels are likely to remain the primary obstacle for bulls in the near term.

ZEC’s repeated rejection at the $550–$580 resistance zone continues to cap short-term rallies, requiring buyers to break above this area for a stronger trend to develop.

Higher lows sustain bullish structureDespite the recent stall beneath resistance, market analysts point to a constructive bullish structure for ZEC. Analyst Leo524 noted that the cryptocurrency has consistently formed higher lows, with buyers actively defending the demand region between $440 and $480.

According to Leo524, the bullish outlook will remain valid as long as the $440–$480 support holds. The analyst stated that “a clean break above the current resistance area” would confirm the start of a new upward phase. If this scenario unfolds with strong trading volume and a daily close above resistance, targets at $621 and $688 may come into play.

However, a loss of the $440–$480 range would negate the bullish trend and likely increase downside pressure.

Mini dictionary: Exponential Moving Average (EMA), a technical indicator that gives greater weight to more recent price data, often used to identify trend direction in financial markets.

Technical signals remain mixedTechnical data from TradingView presents a neutral picture overall, with equal influence from buyers and sellers across multiple timeframes. Key momentum indicators such as the Relative Strength Index (RSI), Stochastic %K, Commodity Channel Index (CCI), MACD, and Williams %R are also currently in the neutral range, signaling a lack of clear directional bias.

Oscillators indicate that ZEC is neither overbought nor oversold, placing increased focus on price action and trading volume to guide the next significant move.

With technical oscillators signaling neutrality, traders continue to watch for a volume-backed price breakout to provide confirmation of the next direction.

Moving averages support buyersWhile oscillators remain balanced, moving averages paint a more encouraging picture for bulls. TradingView’s technical assessment classifies ZEC’s moving averages as a Strong Buy, backed by price strength above key EMAs and SMAs for 10, 20, 30, 50, 100, and 200 periods. This configuration suggests that the medium-term trend currently favors buyer momentum, even if immediate gains are limited by resistance.

Market structure and ZEC price predictionZEC has traded in the $540–$550 zone, recording approximately 9% weekly and 15% monthly gains according to TradingView market data. With a market capitalization near $9 billion and over $500 million in 24-hour trading volume, ZEC has maintained sufficient liquidity for potential volatility if momentum accelerates further. However, analysts agree the recovery remains incomplete as long as price action holds below the major supply region.

The current technical outlook for Zcash remains positive, but confirmation of a sustained bullish move depends on an explicit breakout above the $550–$580 resistance band. Should bulls achieve this with increased volume and a daily close above resistance, further targets at $621 and $688 become likely. Conversely, losing the $440–$480 support could shift sentiment and restore downside risk for ZEC.

Level/ZoneTypeImplication$440–$480Demand/SupportStructure remains bullish if held$550–$580Supply/ResistanceBreakout needed for next rally$621TargetUpside target if resistance is broken$688TargetFurther upside potentialDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.