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Solana (SOL) is poised to reclaim its $250 all-time high, according to one long-term analysis of the 3-day SOL/USDT higher-timeframe chart.

Solana chart forecasts strong upside momentum to $250As seen in the chart below, Solana appears to be carving out a robust, long-term accumulation pattern that could catalyze massive upward momentum. The analyst emphasizes “zooming out” to filter out minor market volatility and focus through a macroscopic lens.

Source: X

At the time of writing, SOL was trading at $77.51, implying that a move to $250 would require a 220% increase. To achieve this, SOL buyers must first aggressively absorb supply to overcome several resistance zones.

Source: CoinMarketCap

The first is the $79-$85 congestion zone, where more than 105 million tokens have historically changed hands. Breaking past this zone would invalidate near-term bearish movement and build confidence around a breakout to $250.

Another key resistance zone is the $100 psychological barrier, which is currently a multi-month ceiling. Crossing above the three-figure mark would pave the way for a mid-term extension to $120-$150, and eventually to $200.

Ecosystem developmentsSince October 2025, institutions have been continuously applying for Solana exchange-traded funds (ETFs). Just yesterday, Morgan Stanley updated its filing for a Solana ETF with the US Securities and Exchange Commission (SEC).

Even more, while Ethereum leads in terms of asset tokenization, institutions prefer Solana for its high throughput and lower gas fees. The network also eliminated any chance of outages through last year’s Firedance upgrade. Even more, Solana offers a unique staking advantage in its ETFs as compared to Ethereum. 

Beyond sustaining high trading volumes, these developments are key to maintaining the magnitude of the rally mentioned above.

The outlookThat said, Solana could experience near-term resistance and consolidation, even as long-term structural momentum continues to brew.

Additionally, Solana buyers need to maintain prices above the $74-$75 baseline to invalidate false breakdowns and establish a springboard for localized rebounds. Should this fall through, the lower Bollinger Band suggests a deeper retest down to $68.57. Prolonged trading below $70 has historically led to price consolidation in a strict range prior to recovery.

Story Ends Here

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OKX, the prominent crypto exchange, has recently introduced Unified Tokenized Stocks. Particularly, OKX is offering round-the-clock trading availability for U.S. exchange-traded funds (ETFs) and stocks. As per OKX’s official press release, the exclusive offering permits consumers to gain seamless exposure to well-known equities via blockchain-native assets that are traded on its spot market. Hence, the move allows the crypto exchange to eliminate the restrictions of conventional Wall Street trading hours while also delivering uninterrupted interaction with the market.

Blue-chip US stocks deserve more than Wall Street hours.

Introducing Stock and ETF tokenized markets – global trading 24/7

We're the first global exchange to launch unified tokenized stock markets, built to bring multiple issuers into shared liquidity.

— OKX (@okx) July 15, 2026 OKX Introduces 24/7 Inclusive Tokenized Stock Market Supporting X Layer and Solana The launch of Unified Tokenized Stocks with 24/7 availability positions OKX as the earliest crypto exchange that provides an inclusive tokenized stock ecosystem. With this move, investors can effectively trade diverse tokenized ETFs and equities with the use of $USDT whenever required, including holidays and weekends.

Specifically, the new initiative lets consumers trade tokenized versions of leading ETFs and stocks, with every asset ticker starting with an “X” prefix. The key examples include Apple’s XAAPL, NVIDIA’s XNVDA, and Tesla’s $XTSLA. The tokenized forms of the stock that diverse providers issue can reportedly be consolidated into an inclusive tradable asset on the crypto exchange. This develops a shared liquidity setting and a streamlined corporate-action model.

At the product’s launch, it is supported by xStocks and backs withdrawals and deposits on both the X Layer and Solana networks. $USDT is used to quote trading pairs, permitting crypto-native consumers to enjoy stock market exposure while facing no need to convert funds into local fiat currencies or open a conventional brokerage account.

Bridging Crypto Markets with Traditional Finance Apart from that, the 24/7 availability is a crucial element of the latest marketplace. While conventional U.S. equity markets work during particular trading sessions, the new initiative remains operative without any time limitations. Outside of the normal market hours, prices are determined through the exclusive closing values merged with exclusive market estimates.

With this structure, traders can react rapidly to macroeconomic developments, earnings announcements, and other key news events irrespective of the time of their occurrence. Simultaneously, the dividend distribution is another notable feature that enables reinvestment of the value at the issuer scale instead of direct dividend payment in cash.

In this respect, trading operations continue without any interruption. Keeping this in view, Unified Tokenized Stocks provides price exposure to the core ETFs and stocks rather than granting the underlying companies’ ownership. Overall, the launch is anticipated to broaden blockchain-powered access to conventional financial markets to further fill the gap between traditional equities and digital assets.

AUTHOR

Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.

Visa has released a joint research report with Artemis titled *Agentic Payments from the Ground Up*, which analyzes the development of AI agent payments and on-chain data. The report divides AI agent payments into two main categories: one is "large commercial payments" where agents complete tasks such as flight bookings and subscription management on behalf of users; the other is small-value machine-to-machine payments, including API calls and compute resource purchases, typically under $1. The machine payment protocol x402—incubated by Coinbase and Cloudflare and later managed by the Linux Foundation—has processed an adjusted trading volume of approximately $15 million and around 109.6 million cumulative transactions since its launch in May 2025, with primary activity concentrated on the Base, Solana, and Polygon networks. Another machine payment protocol, the Machine Payments Protocol (MPP), built by Stripe and Tempo with contributions and support from Visa, has completed roughly $25,000 in settlements and processed about 115,000 transactions since its launch in March 2026. Visa noted that the growth of AI agent payments is driving demand for low-cost, high-frequency machine-native payment infrastructure, and stablecoins and blockchain networks are likely to become key components of micro-payment scenarios. The report concludes that future payment systems will not see a single replacement of bank cards or stablecoins, but rather a convergence of both across different use cases.

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Fidelity International plans to resume increasing its gold holdings, stating that its long-term bullish thesis for gold remains unchanged.

Asset management firm Fidelity International said it plans to rebuild its gold positions trimmed earlier this year, noting that gold’s long-term growth drivers remain strong. Fidelity’s multi-asset portfolio manager Ian Samson recently stated: “Our plan is to add to gold positions again; the only question is timing.” He added that he cut his gold allocation to a neutral level between January and February this year, a period when gold’s multi-year bull market abruptly ended. Samson forecasts the gold market will re-enter a bull market at some point in 2027. The logic behind a return to a bull market would only be undermined if “governments return to fiscal discipline and central banks are truly committed to bringing inflation back down,” he said, adding: “But I don’t think we are in that world right now.” Samson also noted that central banks’ continued gold purchases—a key driver of the previous gold bull market—will continue to underpin gold prices. (Source: Jin10)

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A trader, after incurring total losses of $4.89 million, took a large long position in BTC and currently holds a BTC long position valued at $5.43 million.

According to OnchainLens monitoring, a trader who has suffered a total loss of $4.89 million has once again taken a heavy long position. Currently, the trader holds 84 BTC long positions worth approximately $5.43 million with 40x leverage. The account also holds long positions in HYPE valued at around $290,000 and long positions in PUMP worth roughly $148,000. Additionally, the trader has placed a limit buy order for 6.56 BTC, worth about $424,000, at a price of $64,600.

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Yesterday, U.S. Bitcoin spot ETFs recorded a net inflow of $107.7 million, while U.S. Ethereum spot ETFs saw a net inflow of $53.9 million.

According to data from Farside Investors, U.S. spot Bitcoin ETFs saw a total net inflow of $107.7 million yesterday. Among them, BlackRock’s IBIT attracted $80.8 million, Fidelity’s FBTC recorded $16.9 million in net inflows, Grayscale’s Bitcoin ETF posted $10 million, while all other ETFs had zero net flows for the day. In the same period, U.S. spot Ethereum ETFs totaled a net inflow of $53.9 million. Breakdown shows BlackRock’s ETHA brought in $45.3 million, ETHB had $4 million, Grayscale’s Ethereum ETF recorded $4.6 million, with all other ETFs registering no net inflows on the day.

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South Korean media reported that Jensen Huang highly praised SK Hynix for its listing on the Nasdaq.

According to South Korean media reports, SK Hynix has raised a massive sum of up to 40 trillion won (approximately $307.6 billion) via its listing on the U.S. Nasdaq market, with the goal of consolidating its leadership in the artificial intelligence (AI) semiconductor market. Jensen Huang, CEO of NVIDIA (NVDA.O) — the global leader in the AI chip sector — extended warm congratulations on the listing. Per industry sources, on July 16, after concluding an event held in Tokyo, Japan, the day before, Huang expressed extreme delight over the listing of SK Hynix's American Depositary Receipts (ADRs), calling it "extremely successful". (Jinshi)

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Analysis: Changxin Technology’s profit range for winning one IPO lot is estimated to be between 3,000 yuan and 26,000 yuan.

According to Cailian Press, investors who win the IPO allotment for Changxin Technology’s current offering will receive one lot of 500 shares, requiring a total payment of 4,330 yuan. Under four valuation scenarios—conservative, neutral, optimistic, and ultra-optimistic—Changxin Technology’s valuation would reach 1 trillion yuan, 1.5 trillion yuan, 2.3 trillion yuan, and 4.25 trillion yuan respectively. Based on the estimated market capitalization range of 1 trillion to 4 trillion yuan, its first-day post-listing price increase is projected to fall between 70% and 600%. Compared to the issue price of 8.66 yuan, the profit potential per lot is approximately 3,000 yuan to 26,000 yuan.

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Bank of America Market Survey: Majority of investors do not believe the AI bull market has peaked, with the rally set to continue in the second half of the year.

Bank of America (BofA)’s latest investor survey reveals market sentiment toward AI capital expenditure is growing more nuanced. Most investors do not think the AI spending boom has peaked, and still expect this wave of expenditure to continue in the second half of the year. At the same time, concerns are rising over hyperscalers’ excessive spending pace, debt pressure and credit risks. The survey shows investors are not broadly betting on the end of the AI cycle. Instead, the market still believes large platforms including Microsoft, Amazon, Alphabet and Meta will keep expanding investments in data centers, GPUs and power infrastructure. The problem is that the pace of capital expenditure growth has become so fast that some investors are starting to worry about free cash flow, share repurchase capacity and balance sheet flexibility. Per BofA’s survey methodology, AI has evolved from a pure growth story to a capital discipline issue. Over the past two years, the market rewarded companies for heavy AI investments; now, investors are starting to question the return periods of these investments, depreciation pressures, and whether cloud providers will be forced into overbuilding amid competition.

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PANews, July 16 – According to SoSoValue data, the overall crypto market sectors trended narrowly sideways. The RWA sector stood out with a 24-hour gain of 6.40%, as Ondo Finance (ONDO) rose 15.92% and Centrifuge (CFG) rose 2.87%. Meanwhile, Bitcoin (BTC) edged up 0.19%, briefly breaking through $65,000 during the session; Ethereum (ETH) rose 2.92%, breaking above $1,900.

Other sectors that performed well include: the DeFi sector, which posted a 24-hour rise of 0.96%, with ZeroLend (ZERO) surging 28.87%; and the PayFi sector, up 0.32%, with eCash (XEC) gaining 13.68%.

In other sectors, the Meme sector slipped 0.07%, but Pump.fun (PUMP) rose 1.53%; the CeFi sector fell 0.13%, while Mantle (MNT) held relatively firm, up 1.69%; the Layer1 sector fell 0.23%, with Injective (INJ) rallying 3.24% intraday; the Layer2 sector fell 0.34%, with MegaETH (MEGA) bucking the trend to rise 2.39%; and the SocialFi sector fell 2.43%, with Gram (GRAM) declining 2.36%.

Trump Meme Coin Reveals Liquidity Update: Will It Change Price Misery?

ZTE Corporation's smartphone brand nubia announced that its first AI agent smartphone, the nubia NaviX Ultra equipped with Doubao Mobile Assistant, has made its official debut. (Jinshi)

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Yesterday, U.S. Bitcoin spot ETFs recorded a net inflow of $107.7 million, while U.S. Ethereum spot ETFs saw a net inflow of $53.9 million.

According to data from Farside Investors, U.S. spot Bitcoin ETFs saw a total net inflow of $107.7 million yesterday. Among them, BlackRock’s IBIT attracted $80.8 million, Fidelity’s FBTC recorded $16.9 million in net inflows, Grayscale’s Bitcoin ETF posted $10 million, while all other ETFs had zero net flows for the day. In the same period, U.S. spot Ethereum ETFs totaled a net inflow of $53.9 million. Breakdown shows BlackRock’s ETHA brought in $45.3 million, ETHB had $4 million, Grayscale’s Ethereum ETF recorded $4.6 million, with all other ETFs registering no net inflows on the day.

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South Korean media reported that Jensen Huang highly praised SK Hynix for its listing on the Nasdaq.

According to South Korean media reports, SK Hynix has raised a massive sum of up to 40 trillion won (approximately $307.6 billion) via its listing on the U.S. Nasdaq market, with the goal of consolidating its leadership in the artificial intelligence (AI) semiconductor market. Jensen Huang, CEO of NVIDIA (NVDA.O) — the global leader in the AI chip sector — extended warm congratulations on the listing. Per industry sources, on July 16, after concluding an event held in Tokyo, Japan, the day before, Huang expressed extreme delight over the listing of SK Hynix's American Depositary Receipts (ADRs), calling it "extremely successful". (Jinshi)

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Analysis: Changxin Technology’s profit range for winning one IPO lot is estimated to be between 3,000 yuan and 26,000 yuan.

According to Cailian Press, investors who win the IPO allotment for Changxin Technology’s current offering will receive one lot of 500 shares, requiring a total payment of 4,330 yuan. Under four valuation scenarios—conservative, neutral, optimistic, and ultra-optimistic—Changxin Technology’s valuation would reach 1 trillion yuan, 1.5 trillion yuan, 2.3 trillion yuan, and 4.25 trillion yuan respectively. Based on the estimated market capitalization range of 1 trillion to 4 trillion yuan, its first-day post-listing price increase is projected to fall between 70% and 600%. Compared to the issue price of 8.66 yuan, the profit potential per lot is approximately 3,000 yuan to 26,000 yuan.

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The U.S. imposes a 25% tariff on certain Brazilian goods.

The U.S. Trade Representative (USTR) said local time on the 15th that, pursuant to instructions from U.S. President Donald Trump, U.S. Trade Representative Greer is taking final action under Section 301 of the Trade Act of 1974 to impose a 25% tariff on certain Brazilian goods. The decision stems from a year-long USTR investigation, which found that certain measures taken by Brazil in areas including digital trade and electronic payment services, unfair preferential tariffs, interference in anti-corruption law enforcement, intellectual property protection, ethanol market access, and illegal deforestation constitute "unreasonable practices" that have imposed burdens or restrictions on the business activities of U.S. farmers, workers, innovative enterprises, and exporters. Greer stated: "Despite extensive negotiations between the U.S. and Brazil over the past year, these issues have not been resolved. The U.S. remains willing to continue negotiations with Brazil to address the long-standing problems identified in this investigation." The U.S. will exempt Brazilian beef and coffee from the new 25% tariffs imposed on certain Brazilian goods. (Jinshi)

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Three new wallets withdrew 30,000 ETH from Coinbase Prime, worth approximately $57.66 million.

According to Lookonchain’s monitoring, crypto whales continue to accumulate ETH. Approximately 9 hours ago, three newly created wallets withdrew 30,000 ETH from Coinbase Prime, totaling around $57.66 million.

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BNB Chain Completes 36th Quarterly BNB Burn, Destroying 1.6058 Million Tokens Worth Approximately $932 Million

The BNB Foundation announced the completion of the 36th quarterly BNB burn, with a total of 1,615,827.795 BNB destroyed, worth approximately $932 million at the time. The burn transaction is publicly on-chain. Officials stated that BNB advances its deflationary goal through a dual mechanism of Auto-Burn and real-time burn based on gas fees. The long-term plan is to gradually reduce the total supply of BNB from the current approximately 133 million to 100 million.

Revolut Receives Preliminary License in Dubai, Plans to Offer Crypto Brokerage and Trading Services in the UAE

Fintech company Revolut has obtained “in-principle approval” from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer crypto brokerage-dealing, investment, and exchange services in the UAE. Revolut plans to provide crypto services to local users via its retail app and the standalone trading platform Revolut X. These services are still subject to final regulatory approval before official launch.

Elon Musk: X Pledges to Fully Open-Source Code After Security Review

Elon Musk posted that after completing a security vulnerability review, X will make the entire platform's complete codebase open source “without exception,” and invite third parties to audit the live running systems to verify that the production code matches the open-source code exactly. Musk stated this move aims to build user trust through verifiable system transparency.

BlackRock's Digital Asset AUM Falls to $48.8 Billion Despite $15.1 Billion Net Inflows

BlackRock disclosed that its digital asset product AUM fell from $79.6 billion a year ago to $48.8 billion, a decline of nearly 39%. During this period, it recorded approximately $15.1 billion in net inflows, which were offset by about $45.8 billion in market depreciation. The business saw $3.1 billion in net outflows in Q2. During the same period, BlackRock's overall AUM hit a record high of $15.3 trillion. In this earnings report, BlackRock set an annual crypto business revenue target of approximately $500 million by 2030, more than ten times the current ~$40 million from base fees and securities lending revenue. It stated it will expand its layout around the existing Bitcoin spot ETF (IBIT), Ethereum spot ETF (ETHA), and the options strategy product BITY, aiming to become a stablecoin reserve and native asset manager for digital wallets.

DTCC, Alongside JPMorgan, BlackRock, Goldman Sachs and Nearly 40 Institutions, Advances Tokenization of Equities and U.S. Treasuries

The Depository Trust & Clearing Corporation (DTCC) is advancing a Wall Street asset tokenization initiative, tokenizing assets such as Microsoft, SPY, QQQ, and U.S. Treasuries. Participating institutions include JPMorgan, BlackRock, Goldman Sachs, and others. The institutions plan to use tokenized assets for collateral transfers, repo transactions, and equity trading, aiming to improve capital efficiency, optimize settlement processes, and bring traditional financial infrastructure on-chain.

Cyclops Raises $20 Million in Series A to Advance Stablecoin Payment Settlement

Miami-based payment infrastructure startup Cyclops has completed a $20 million Series A funding round, aiming to help payment companies accelerate fund settlement using stablecoins. The company optimizes cross-border and traditional payment processes through stablecoins, improving settlement efficiency, reducing costs, and promoting the use of stablecoins in enterprise payments and financial infrastructure.

Indian AI Coding Platform Emergent Raises $130 Million in Series C at $1.5 Billion Valuation

Indian AI coding startup Emergent has raised $130 million in a Series C round at a post-money valuation of approximately $1.5 billion, a roughly 5x increase from its $300 million valuation in January this year. The round was led by private equity firm Creaegis, with participation from MNI Ventures-Claypond, Sentinel Global, Khosla Ventures, SoftBank Vision Fund 2, Lightspeed, Y Combinator, and others, bringing total funding to $230 million. Emergent offers an “engineering team as a service” AI coding platform for SMEs and entrepreneurs. It currently has an annualized revenue of about $120 million, growing approximately 70% over the past four months, with over 200,000 paying users and clients across logistics, manufacturing, construction, and property management.

Kalshi Self-Certifies CFTC-Regulated Flight Cancellation Event Contracts

Kalshi has self-certified a CFTC-regulated flight cancellation event contract, allowing investors to trade on whether the number of flight cancellations at a specific airport during a given period exceeds a set threshold. The contract will settle based on actual cancellation data, providing a standardized hedging tool for flight operation risks and introducing flight disruption events to the contractual trading market.

Alibaba's Gains Widen to 7.5%, Now Trading at $120.75

According to Bybit data, Alibaba (BABA.N) gains widened to 7.5%, now trading at $120.75.

Coinbase to End Support for USDC Deposits and Withdrawals on Noble Network on August 17

Coinbase will cease support for USDC deposits and withdrawals on the Noble network on August 17, 2026, after which users will no longer be able to send or receive USDC on that network.

Tehran Province Seizes 187 Illegal Mining Machines

The Tehran Provincial Electricity Distribution Company stated it seized 187 illegal cryptocurrency mining devices at two industrial units in Khorasan and Shahriar.

Fed Chair Warsh: Expects AI to Push Up Observable Price Levels in the Next 12 Months

Federal Reserve Chair Warsh attended the Senate Banking, Housing, and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress.” He stated that recent inflation data does not perfectly reflect underlying inflation. Any central bank would be pleased when data moves in the right direction. In the short term, AI investment is beneficial for employment. During this period, AI will trigger disruptive changes. AI investment could be very good for jobs because we are building infrastructure. It is inappropriate to prejudge the content of a meeting without factual basis. I strictly comply with and exceed my ethical agreements, having sold or soon to fully sell assets acquired before I became Fed Chair. I have converted investments into cash equivalents and short-term Treasuries. He expects AI to push up observable price levels in the next 12 months, and whether AI leads to inflation depends on the Fed. He believes AI is a long-term job creator, though it may bring disruptive impacts. Regarding the short-term impact of AI, I cannot guarantee no job disruption, nor can I provide reassurance on employment. The price surge triggered by AI is real and I don’t want to downplay it. I would rather see companies invest than buy back stock. Corporate capital investment contributes tremendously to GDP, and I expect this trend to continue.

Perpetual DEX OSTIUM on Arbitrum Suspected of Being Hacked, Losing Approximately $18 Million

Security team Blockaid monitoring shows that the perpetual contract DEX Ostium Vault on Arbitrum is suspected to have been attacked. The attacker used a registered PriceUpKeep forwarding contract and authorized oracle reports with "pre-signed future times" to artificially create fake trading profits, triggering a loss of approximately 18 million USDC from the vault.

Chun Wang Transfers Around 4,950 ETH to Binance After Unstaking via Lido

Chun Wang (王纯) transferred approximately 4,950 ETH (around $9.53 million) to a Binance address 0xf42b…2b51 after completing ETH unstaking through Lido and unwrapping WETH.

Ostium Suspends All Trading to Investigate OLP Vault Issue

The Ostium project team stated that it has noticed issues related to the OLP Vault and has suspended all trading on the platform. The team is investigating the cause of the incident. Earlier, security firm Blockaid pointed out that Ostium’s vault on Arbitrum was suspected of being exploited, with the attacker creating fake profits through oracle and contract logic, draining approximately 18 million USDC from the vault.

Anthropic Plans to Launch IPO Roadshow, Potentially Listing as Early as October

Claude chatbot developer Anthropic is planning pre-IPO investor meetings with underwriting banks in preparation for a potential large listing. Sources said the lead underwriters are arranging roadshow communications in the coming weeks, and Anthropic is considering launching an initial public offering on the U.S. stock market as early as October.

Summer.fi to Shut Down Operations After Protocol Exploit, Frontend Available Until August 31

According to the Summer.fi blog, due to the Lazy Summer Protocol being attacked on July 6, the team announced it will shut down Summer.fi and the Labs company behind it. The attacker manipulated the share prices of two USDC Vaults on Ethereum mainnet, stealing approximately $6.04 million in deposits in a single transaction, causing significant losses to the protocol and the team’s own funds and depleting operating capital. Against the backdrop of DeFi being under pressure following the Stream Finance incident in October 2025, the team stated there is no viable restructuring path and will keep the Summer.fi frontend available until August 31. The future development of Lazy Summer Protocol will be decided by the Lazy Summer DAO, which is advancing the process to restore full Vault withdrawals and redemptions; the official support email and Discord will remain open until the end of August.

SpaceXAI Open-Sources Its Coding Agent and Terminal User Interface Grok Build

SpaceXAI announced the open-sourcing of its coding agent and terminal user interface Grok Build, with the source code now available on GitHub. The open-sourced content includes modules such as the agent loop, tool system, terminal UI rendering, and extension systems (skills, plugins, hooks, MCP servers, and sub-agents). Grok Build now supports fully local-first operation, allowing users to compile it themselves and point it to a local inference instance, driven by a config.toml configuration file.

SpaceX Stock Price Falls Below $135 IPO Price for the First Time

According to Bybit market data, SpaceX’s stock price fell for the fourth consecutive trading day on Wednesday, briefly dipping below the $135 per share IPO price intraday, marking the first time since its listing. The stock fell about 0.60% on Wednesday to close at $135.27 per share. During its first month of trading, SpaceX shares reached an all-time high of $225.64.

Fed Beige Book: Most Districts Saw Slight to Modest Growth, Prices Rose Moderately Overall

The Fed’s Beige Book showed that from late May through June, economic activity expanded at a slight to modest pace in 11 of the 12 Federal Reserve districts, while one district reported no change in activity. Prices overall rose moderately; among the 12 Fed districts, 9 reported moderate price increases, 2 saw stronger increases, and 1 saw smaller increases, with the overall pace of increase holding steady or slowing compared to the prior period. Employment overall increased, with five districts experiencing modest, moderate, or solid employment gains, while seven saw little or no change. Businesses surveyed generally expect the economy to continue expanding in the coming months, but several districts noted high uncertainty regarding the outlook for fuel costs.

Fed Governor Cook: Prepared to Act if Inflation Does Not Cool Soon

Fed Governor Cook stated that there are reasons to believe inflation will continue to cool, but tariffs, the Middle East conflict, and AI investment could keep price pressures persistent; it is prudent to wait for further disinflation over a period, and if inflation is not seen cooling in the near term, she is prepared to act.

Crypto Clearing Firm Glacis Labs Closes $6.8 Million Seed Round With Participation From Franklin Templeton

Glacis Labs, the startup behind the crypto clearing platform ZeroDelta, closed a $6.8 million seed round led by Lightspeed Faction, with participation from Franklin Templeton, Coinbase Ventures, A.GAIN, Protein Capital, and Techni Ventures. The funding structure is equity plus token warrants, with the valuation undisclosed. Founded in January 2024, Glacis has developed the ZeroDelta multi-chain clearing platform, which reduces counterparty risk by matching, netting, and settling cross-chain digital asset transfers. ZeroDelta currently supports USDC, USDT, and USDe, with plans to expand into tokenized securities, RWAs, and forex. Glacis generates revenue by charging fees on clearing volumes, having processed over $1 billion in volume with an annualized run rate of $1.5 billion. The team currently has 10 members and plans to expand its engineering, compliance, and marketing teams.

Coinbase Executive Jesse Pollak Steps Down as Head of Base Applications, Cobie Takes Over

Coinbase executive and Base blockchain founder Jesse Pollak posted on X, announcing he will no longer lead the Base applications team, with Cobie (Jordan Fish) taking over. Pollak acknowledged that Base’s previous bets on social and creator features largely fell flat — Farcaster was sold, Zora shifted to Solana, and most creator token investors lost money. Pollak described Q1 2026 as hitting “like a punch,” noting that the focus on social features caused Base to fall behind in key areas such as trading, stablecoin payments, and AI agents. He will shift to Base chain infrastructure, aiming to “make Base the blockchain for global finance and committed to becoming the core platform for global money settlement over the coming century.” Cobie joined Coinbase last year after Coinbase acquired his ICO launchpad Echo for approximately $375 million in cash and stock. Previous reports indicated that the Coinbase CEO publicly admitted the failure of the Base creator token strategy.

Arthur Hayes Suspected of Accumulating 1,293 ETH via OTC Transactions, Worth Around $2.48 Million

BitMEX co-founder Arthur Hayes is suspected of accumulating ETH through over-the-counter transactions. The first involved sending 1.25 million USDC to Galaxy Digital and receiving 646.33 ETH ($1.24 million); the second was completed through FalconX, receiving 646.93 ETH ($1.24 million). The two transactions total approximately 1,293 ETH, worth about $2.48 million. The relevant addresses have been publicly disclosed.

Strategy CEO: The Company Will Not Stop Buying Bitcoin, Only Needs to Worry About Debt if BTC Falls Below $10,000

Strategy President and CEO Phong Le said in an interview with Bloomberg Television that the company will not stop buying Bitcoin, and "the goal for the foreseeable future is to be the largest Bitcoin buyer." He noted that debt risks would only need to be considered if Bitcoin fell to around $8,000–$10,000, and the company is currently "very comfortable" with its balance sheet. Le said that the recent sale of over $215 million worth of Bitcoin and the increase of cash reserves to $3 billion were in response to preferred stock shareholders' demand for short-term liquidity and to demonstrate the liquidity of the company's Bitcoin holdings. Once STRC returns to its $100 par value, the company will issue more preferred stock to purchase Bitcoin. Strategy's price-to-book ratio has rebounded from below 1 to around 1.02, with BTC currently trading near $65,000.

Trump to Attend Key Thursday White House Meeting on Clarity Act Ethics Provisions

Ethics concerns will take center stage at a Thursday afternoon meeting with President Trump, a small group of lawmakers and White House staff, as legislators try to resolve the ethics provisions in the Clarity Act. Solana Policy Institute President Kristin Smith said the meeting is scheduled for 2:30 p.m. local time Thursday and will include Republican Senators Bernie Moreno and Cynthia Lummis, senior White House crypto advisor Patrick Witt and White House Chief of Staff Susie Wiles. The meeting comes as lawmakers have been negotiating the ethics provisions to address legislative concerns over Trump and his family’s crypto ventures. Smith described the meeting as “critical” for the Clarity Act’s passage and expressed hope of securing Trump’s approval on the ethics language. Crypto industry sources said progress hinges on the Thursday meeting and that “Trump’s personal attendance is a big deal.” Senate Majority Leader Thune aims to bring the bill to a full floor vote before the August recess, with updated text expected to be released this week.

BlackRock CFO: Firm’s Long-Term Goal Is to Offer Crypto Assets and All Types of Traditional Assets Within Digital Wallets

BlackRock CFO Martin Small laid out a vision for the convergence of crypto and traditional finance on an earnings call, stating the long-term goal is to make BlackRock products natively available where investors hold digital assets. “Investors won’t have to leave their digital wallets to efficiently allocate to crypto assets, stablecoins, and long-term equities and bonds,” Small said. The firm also seeks to eventually offer tokenized treasury funds, iShares ETFs and private market products, calling tokenization and crypto a “purely organic growth opportunity.” Despite digital assets under management falling to $49 billion in the second quarter (down roughly 40% year-over-year) amid the market downturn, BlackRock reaffirmed its $500 million revenue target for crypto-related businesses by 2030. Shares of the company rose more than 7% in early trading after the earnings release. BlackRock manages the world’s largest spot Bitcoin ETF, with approximately $60 billion in AUM.

A Whale Bought and Withdrew 21,300 ETH Worth About $40.95 Million From Fidelity Custody

Another whale is accumulating ETH, buying and withdrawing 21,300 ETH ($40.95 million) from Fidelity Custody to a new wallet.

PeckShield: Ostium’s Public OLP Vault Drained of Approximately 24 Million USDC

Ostium’s public OLP vault has been drained of approximately 24 million USDC. The attacker swapped the funds for 12,080 ETH and has deposited 10,540 ETH into Tornado Cash. The attacker initially funded the wallet address with 1 ETH each via ChangeNow and Bybit as seed funds.

Tether Invests $20 Million in Argentine Digital Bank Ualá to Expand Latin American Footprint

Tether invested $20 million in Argentine digital bank Ualá as part of the $197 million funding round Ualá announced in March. Ualá plans to use the capital to accelerate its expansion in Argentina, Mexico and Colombia. Ualá founder and CEO Pierpaolo Barbieri said that due to the regulatory environment in Argentina and Mexico, the platform will not integrate the USDT stablecoin in the short term, and Tether is participating solely as a financial investor. Ualá has 11 million customers and is valued at $3.2 billion after this round, and plans to accelerate expansion in Mexico.

ORANGE JUICE Raises $40 Million to Build a Permanent Capital Holding Company Backed by Bitcoin Reserves

ORANGE JUICE announced it has closed $40 million in financing to establish a permanent capital holding company backed by bitcoin reserves. The company was co-founded by ego death capital partners Jeff Booth, Lyn Alden, Nico Lechuga and Andi Pitt, among others, with Grupo Salinas founder Ricardo Salinas participating as an anchor investor. ORANGE JUICE is not constrained by fund lifecycles or resale pressure, allowing it to focus on the long-term development of its portfolio companies, and plans to pursue a public listing in the future. The firm will initially acquire stable cash-generating businesses with annual cash flows of $1 million to $10 million; acquired companies will retain their brand identities, and founders can choose to retire, stay on, or gradually transition. Cash generated by operations will be reinvested into acquisitions or bitcoin reserves.

A Whale Withdrew 30,000 ETH From Coinbase Prime and Distributed Them Across Three New Wallets, Worth About $57.66 Million

A whale withdrew 30,000 ETH ($57.66 million) from Coinbase Prime and distributed them across three new wallets.

Stanford Study: Signs of Manipulation in Polymarket Five-Minute Bitcoin Betting Market

Researchers at Stanford University found signs of manipulation in Polymarket’s five-minute Bitcoin betting market. The study analyzed contract data over roughly two months and found repeated, one-way trading pulses on the Binance exchange that briefly influenced the Bitcoin price in the seconds before a bet resolved, benefiting those with aligned positions. The researchers described this pattern as “temporary manipulation to push up the spot price” and noted a structural vulnerability in such contracts — participants can influence outcomes by trading the very underlying asset that determines wins and losses. A Polymarket spokesperson said the platform uses multiple independent price oracles to ensure accuracy and plans to transition some markets to settlement using longer time windows within the next year to enhance market integrity. The study estimated suspected manipulators netted approximately $8.2 million over two months, mainly from retail trader losses. Similar patterns were not evident in 15-minute markets, where longer windows make outcomes harder to influence.

Aave V4 Goes Live on Avalanche Network, First Expansion Beyond Ethereum

Decentralized lending protocol Aave Labs announced that Aave V4 has officially launched on the Avalanche network, marking the version’s first expansion since its deployment on the Ethereum blockchain. The deployment is part of Aave founder Stani Kulechov’s plan to introduce tokenized RWAs to the protocol. V4 uses a “hub-and-spoke” architecture to isolate risk across different liquidity hubs, with the Avalanche deployment running one core liquidity hub and three independent markets: the main market, an AVAX-related market (built around liquid staking), and a foreign exchange market.

NYDIG: Bitcoin Is the Worst-Performing Major Asset Year-to-Date; If It Replicates 2022 Pattern, Could Drop to $38,000–$39,000

An NYDIG report shows Bitcoin is down nearly 30% year-to-date, making it the worst performer among major assets, underperforming U.S. Treasuries, silver and the Swiss franc. The report notes the current slump stems from supply dynamics rather than risk sentiment, and the timing and structure of its 2025-2026 drawdown are increasingly resembling the correction years of 2014, 2018 and 2022. Should it fully replicate the 2022 pattern, the cyclical low could be near the $38,000–$39,000 area. However, Bitcoin also experienced its least volatile year on record in 2025, leading some analysts to believe this year’s drawdown could be shallower than in previous bear markets. The rolling correlation between Bitcoin and gold rose in Q2 2026, with both assets experiencing sell-offs as the “debasement trade” lost momentum. Bitwise said last week that although Bitcoin is in its deepest and longest slump since the last bear market, the fundamentals are in place for a rapid recovery. NYDIG called the CLARITY Act “the most important forward-looking catalyst for the digital asset industry.”

Another Whale Again Withdraws 50 WBTC From Binance; Total ETH and WBTC Holdings Surpass $100 Million

A whale or entity that has accumulated nearly $100 million worth of ETH and WBTC since July withdrew 50 WBTC from Binance 8 hours ago. It currently holds 49,407 ETH and 300 WBTC, with a total value exceeding $103 million, an average cost of approximately $1,705 and $63,027.58, and an unrealized profit of $11.113 million.

BlackRock CEO: Bullish on the market in the next 12 months, crypto market more stable after leverage flush-out

BlackRock CEO Larry Fink said in a CNBC interview that he is "very optimistic" about the market in the next 12 months, believing that the technology revolution will drive more companies to achieve better profit margins. Fink pointed out that the current level of leverage in the financial system is far lower than during the 2008–2009 financial crisis, overall risk exposure is limited, but warned that localized risks still exist. Regarding Bitcoin, Fink said that previous crypto cycles had too many leveraged participants, and after multiple rounds of liquidations, Bitcoin and the crypto market have become more stable. BlackRock has improved its profit margin by 260 basis points over the past 12 months due to technology adoption, adding $1 trillion in assets without increasing headcount.

Crypto expert Dr Altcoin has alleged that Pi Network is facing a supply crisis tied to a wave of token unlocks scheduled for the second half of 2026.

According to the post, pioneers who locked their Pi for three years are now seeing large amounts of that supply released. Roughly 775.8 million Pi tokens are set to unlock between now and December 2026. That works out to an average of 129.3 million Pi tokens unlocked each month now. Dr Altcoin argued that a significant portion of this unlocked supply is likely to reach exchanges, adding further selling pressure to the market.

Calls for the Pi Core Team to respond

The post argued that no single announcement, ecosystem update, or exchange listing would be enough to stabilize price without the Pi Core Team directly addressing supply, demand, and liquidity concerns. It called for the team to publicly acknowledge the situation and discuss potential solutions with the community, framing continued silence as a failure of leadership.

Proposed steps, according to the post

Dr Altcoin outlined several measures that could be considered if the Core Team continues its current communication approach:

Burning a substantial portion of remaining supply, potentially as much as 50%, drawing a comparison to Stellar’s historical token burn.Allowing major exchanges, including Binance and Coinbase, to list Pi.Introducing a transparent and verifiable buyback-and-burn mechanism.Price risk raised in the post

The post also warned that if Pi falls below $0.01, it could lose its position among the top 100 cryptocurrencies by market cap, and that a sustained price decline could pressure the project financially, potentially forcing spending cuts or restructuring.

Community reaction

Replies to the post were mixed. Some users voiced support for the criticism, while others questioned Dr Altcoin’s own past promotional activity around Pi. Several replies echoed concerns about token distribution, with some users arguing that a small number of wallets, including the Core Team’s own holdings, control a disproportionate share of total supply.

The Pi Core Team has not publicly responded to these specific allegations as of now. These claims reflect one crypto expert’s analysis and have not been independently verified.

Story Ends Here

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Hanmi Semiconductor plans to build a new factory in South Korea.

South Korea’s Maeil Economic Daily cited an interview with Hanmi Semiconductor Chairman Kook Dong-shin, reporting that amid projected supply shortages of AI semiconductor equipment starting next year, Hanmi Semiconductor is considering constructing its eighth production plant, which will become the company’s largest facility once completed. Kook forecasts that semiconductor equipment demand will exceed supply from next year onward. The planned eighth plant will be sited adjacent to the seventh facility currently under construction in Incheon. Hanmi Semiconductor stated that as global chipmakers expand investments, market demand for its thermocompression bonding machines and hybrid bonding machines will grow rapidly. The company plans to launch its U.S. subsidiary, Hanmi America, in San Jose, California by the end of 2026 to enhance technical support services.

8 minutes ago

South Korean Analyst: SK Hynix Pullback May Present a Buying Opportunity

Young-gun Kim, an analyst at South Korea’s Mirae Asset Securities, said in a report that SK Hynix’s recent pullback presents a highly attractive opportunity to increase exposure to the stock. The analyst noted that the current weakness appears to reflect an unusually sharp cooling of optimism surrounding the company’s second-quarter results and its American Depositary Receipt (ADR) listing. Mirae Asset Securities cut its second-quarter operating profit forecast by 12%, but maintained its buy rating and 4.2 million won target price for the stock. The analyst added that despite the stock’s pullback, spot prices for memory chips continue to strengthen, and growth in backlog orders is unlikely to slow meaningfully.

8 minutes ago

A crypto whale withdrew 30,000 ETH and transferred it to three new addresses.

According to Onchain Lens monitoring, a crypto whale has just withdrawn 30,000 ETH (valued at approximately $57.66 million) from Coinbase Prime, then split the funds into three newly created wallet addresses.

8 minutes ago

Bank of Korea delivers its first interest rate hike in three and a half years, in line with expectations.

The Bank of Korea raised its key interest rate by 25 basis points to 2.75%, marking its first rate hike since January 2023 and meeting market expectations.

8 minutes ago

US Inflation Fell on Cheap Gas, But That Relief is Already Fading

XRP (CRYPTO: XRP) has dropped around 13% over the past month even as Binance’s XRP reserves dropped to their lowest level since February.

Binance XRP Reserves Stabilize Near 2.61 BillionIn an X post on July 15, CryptoQuant data shows that Binance’s XRP reserves fell to roughly 2.61 billion tokens at the start of July before stabilizing near that level.

The decline extends a broader drop in XRP held on the world’s largest cryptocurrency exchange, with no major inflows replenishing reserves.

Lower exchange reserves often suggest investors are moving tokens into private wallets, reducing the amount immediately available for sale.

However, XRP’s price continued to decline during the same period, showing that falling reserves alone have not been enough to reverse bearish momentum.

XRP trades near $1.10 as weak liquidity, muted trading volume and cautious investor sentiment outweigh the potential supply-side boost from lower Binance reserves.

If exchange balances continue to decline while demand improves, the reduced available supply could ease selling pressure over the medium term.

Monthly Buy Signal AppearsCrypto chart analyst Ali Martinez said XRP has flashed a monthly TD Sequential buy signal.

The indicator attempts to identify potential trend exhaustion and reversal points after a prolonged move in one direction.

The signal adds to the case that XRP may be approaching a technical bottom, but bulls still need stronger demand and trading volume to confirm a sustained recovery.

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RedStone, the modular oracle provider that already powers data feeds across more than 100 blockchain networks, has teamed up with Radiant Prime to build a Proof of Reserve dashboard. The tool provides verified, real-time portfolio and capital data for Radiant Prime’s trading operations, essentially giving users a live window into whether the funds backing the platform’s strategy are actually where they’re supposed to be.

What the dashboard actually does Radiant Prime runs a high-frequency delta-neutral basis trading strategy. In English: it’s a market-neutral approach designed to generate returns regardless of whether crypto prices go up or down, by simultaneously holding offsetting long and short positions. The strategy is focused on alpha generation, which sounds fancy but just means squeezing out profit from market inefficiencies rather than directional bets.

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The Proof of Reserve system works as a continuous, automated verification mechanism. Instead of waiting for a quarterly audit from some accounting firm, the dashboard checks vault balances in real time. RedStone’s PoR system verifies that the funds backing tokens are consistently held securely in vaults.

Why this matters for DeFi transparency Community response on social media has been notably positive, with users highlighting the move’s significance for building confidence in DeFi trading strategies.

The RED token and market positioning The RED token, which underpins the RedStone ecosystem, currently has a circulating supply of approximately 447 million tokens out of a maximum supply of 1 billion. The market capitalization sits around $49 million, with the token trading at roughly $0.11.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

20h05 ▪ 6 min read ▪ by Luc Jose A.

Summarize this article with:

The economic monopoly of the West now hangs by a thread, and it is no longer marginal theorists who say this, but the very architects of global finance. Twenty-five years after theorizing the emergence of the economic powers of the South, Lord Jim O’Neill presents an uncompromising assessment of the G7’s inability to adapt to the new global landscape. As the international financial network fragments under the weight of sanctions and geopolitical tensions, this reassessment sounds like a major warning for the supremacy of the US dollar.

In brief The creator of the BRIC term warns that the G7 can no longer pretend to ignore a bloc whose combined GDP now surpasses theirs. The integration of new powers such as Iran or the United Arab Emirates transforms a marketing slogan into a concrete geopolitical alliance. The refusal to reform the IMF and the World Bank has driven emerging countries to build their own financial architecture. This historic monetary fragmentation pushes toward the adoption of decentralized networks and neutral reserve assets. The rise of the BRICS amid the inertia of the G7 The historical assessment made by Lord O’Neill reveals the vast gap between early 2000s projections and the current economic reality. Thus, the British economist bluntly reminds that Western nations made a major strategic mistake by underestimating the cohesion and growth potential of this emerging bloc.

Several factual data points illustrate today this shift in economic power :

Dominance of global GDP : the combined share of the BRICS in the world gross domestic product, measured by purchasing power parity (PPP), has now officially surpassed that of all G7 countries ; Strategic geopolitical expansion : the historic enlargement of the bloc, which includes major players such as Iran, Egypt, Ethiopia, and the United Arab Emirates, is redefining trade routes and control over global energy resources ; Historical warning from the founder : Twenty-five years after inventing the concept, Lord O’Neill firmly warns that “the West cannot ignore the BRICS for another 25 years”. To explain this trajectory, it is important to emphasize that the strength of the BRICS lies in their growing appeal to other major economies of the global South. The recent enlargement of the bloc demonstrates that the alliance has surpassed the mere marketing concept stage to become a true political and commercial coalition.

By failing to take the formation of this coalition seriously from the outset, Western powers missed the opportunity to smoothly integrate these emerging economies into the existing financial order. This historical misjudgment now forces the G7 to urgently react to a dynamic it no longer controls.

The impasse of the Bretton Woods institutions and the search for alternatives Beyond merely noting GDP growth, the current deadlock stems directly from the blockage of international financial institutions by Western powers. Lord O’Neill strongly highlights that the persistent refusal of the United States and their allies to reform the International Monetary Fund (IMF) and the World Bank has pushed the BRICS to build their own architecture.

Unable to obtain representation and voting rights proportional to their real economic weight within the Bretton Woods institutions, these countries have developed the New Development Bank (NDB) and multiplied bilateral agreements. The maintenance of an outdated Western governance has thus acted as the main catalyst for the creation of a parallel financial system.

This pursuit of financial autonomy accelerates under the effect of the dollar’s militarization through unilateral economic sanctions, a mechanism that drives many states to seek alternatives for settlement outside the SWIFT network. Initiatives multiply to use national currencies in cross-border trade, as exemplified by exchange systems developed between China, Russia, and India, or advanced experiments with central bank digital currencies (CBDCs).

By seeking to safeguard their transactions against the risk of asset freezing, the member countries of the BRICS do not necessarily aim to destroy the dollar, but to protect their economies from judicial and political decisions from Washington.

The emergence of decentralized networks as the ultimate financial shield This global monetary fragmentation creates an unprecedented testing ground for the integration of decentralized technologies and alternative neutral reserve assets. As confidence erodes in traditional fiat currencies subject to Western central banks’ policies, the need for uncensorable cross-border exchange tools becomes a strategic priority for many actors of the global South.

The increasing use of blockchain technology to secure commercial settlements illustrates this transition toward depoliticized financial architectures. These tools offer a choice alternative to nations eager to trade smoothly without depending on a single jurisdiction or partisan financial intermediaries.

The adoption of cryptographic protocols and the search for tangible guarantees such as physical gold are gradually transforming sovereign reserve management internationally. Unlike currencies backed by massive sovereign debts, decentralized assets act as immutable stores of value, immune to quantitative easing policies and asset seizures.

Thus, this dynamic reinforces the thesis that the financial infrastructure of the future will not be dictated by a single hegemon but will rely on open and distributed networks. The BRICS, by seeking to break the dollar-euro duopoly, inadvertently accelerate the global transition to this new technological paradigm.

These upheavals outline a deeply fragmented international monetary system, where the coexistence of competing financial blocs is likely to increase currency market volatility in the short term.

In the long term, the erosion of the greenback’s hegemony opens a royal path for distributed ledger technologies, perceived by a growing number of actors as indispensable sovereignty tools. The West now faces a historic choice: engage in genuine multilateral cooperation on equal footing or accept seeing control of global financial flows definitively slip away to new autonomous networks.

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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.

Today we are proud to announce that Celestia Labs is acquiring Sovereign Labs.

This acquisition establishes Celestia Labs as a full-stack custom blockchain development partner for companies building onchain, marking a new chapter for Celestia’s go-to-market strategy and ambitions.

Why Sovereign LabsSovereign Labs has been a core pillar of the Celestia ecosystem since its founding in 2021 by Cem Ozer and Preston Evans. Now in 2026, the Sovereign SDK is the industry's leading framework for application-specific, high-performance blockchains. It powers applications like Relay, the #1 bridge by volume powering over $8.5B of transfers, and Bullet, a perpetuals exchange capable of clearing orders in 1.2 milliseconds and processing over 30,000 TPS.

The addition of the Sovereign Labs team and the Sovereign SDK expands our in-house expertise at Celestia Labs to the entire stack of blockchain engineering, from Layer 1 through to the execution and application layers, enabling end-to-end development for peak scale, performance and customisation.

As part of the acquisition, Preston Evans is now CTO of Celestia Labs. His hands-on experience with customers at Sovereign Labs and general mastery of blockchain infrastructure will be crucial in this next phase.

The need for high-performance custom chainsThe blockchain industry is at an inflection point. Key application categories like stablecoins, decentralised exchanges, and prediction markets are hitting product market fit. Meanwhile, regulatory clarity is clearing the way for enterprises to roll out blockchain solutions at scale. However, these successful apps and enterprises need greater scale, performance and control than general purpose infrastructure can provide, leading many to build their own custom blockchains as a result.

Hyperliquid, the leading decentralized exchange, built its own blockchain to optimize for low latency and custom order flow rules. Polymarket, the prediction market which processed $6B in volume in H1 2025, is migrating to a custom chain to resolve congestion issues and build a more performant exchange. Robinhood launched its own chain this month, purpose-built for tokenized stocks.

The trend towards custom chains is only just starting and will accelerate as more blockchain applications go mainstream. Therein lies our opportunity.

Celestia’s next chapterOur thesis from the beginning has been that for blockchain applications to be usable at a global scale, the underlying blockchain infrastructure needs to be scalable, performant and customizable. Until now, we have focused exclusively on building the underlying Layer 1 technology to enable this, like Fibre which is capable of supporting up to 625M TPS. While that is a critical component, it is not the full picture.

Major applications and enterprises don’t just need a scalable Layer 1, they need a full-stack blockchain infrastructure solution with a hands-on design and engineering partner. The acquisition of Sovereign Labs completes the picture, adding the missing technology and expertise to meet the market where it is going.

A more ambitious era of digital markets requires more ambitious infrastructure to match. With Sovereign Labs on board, we are ready to build it.

← BackJul 15, 2026

ZetaChain Team

Artificial intelligence is becoming increasingly personal.

Every conversation, document, calendar event, and email helps AI systems build a richer understanding of the people using them. This persistent context is what makes modern AI assistants more useful over time. It is also what makes protecting personal information more important than ever.

Today, we're introducing **automatic PII (Personally Identifiable Information) redaction** as a new capability within ZetaChain's privacy architecture, helping developers build AI applications that retain useful context while minimizing unnecessary exposure of sensitive user information.

## AI Needs Context. Not Identity.

Most AI applications don't need to know who you are.

They need to understand relationships, continuity, and intent—not necessarily your legal name, phone number, email address, or home address.

Yet in many AI workflows, personally identifiable information is passed between models and applications simply because it exists inside the conversation. Over time, these details accumulate across multiple services, creating an expanding collection of sensitive user data that many applications never actually need.

As AI agents become more capable and increasingly collaborate across models, applications, and workflows, this challenge only becomes more significant.

## Automatic PII Redaction

Automatic PII redaction helps address this problem by identifying and protecting sensitive information before it is shared with AI models or external services.

Personal information such as names, email addresses, phone numbers, physical addresses, payment details, government-issued identification numbers, and other common forms of PII can be automatically detected and replaced with privacy-preserving placeholders or encrypted references.

The AI still receives the context necessary to complete its task.

The unnecessary identity information does not.

For many workflows, this distinction is enough to preserve functionality while substantially reducing unnecessary data exposure.

## Privacy by Design

PII redaction is not intended to replace encryption, permissions, or user ownership. It complements them.

At ZetaChain, we believe privacy should be part of the underlying AI infrastructure rather than an afterthought applied once data has already been collected.

Automatic PII redaction represents another layer in that architecture. Together with encrypted memory, programmable permissions, wallet-based identity, and user-controlled data access, it helps developers build AI applications that are private by default rather than private by policy.

Each layer reduces unnecessary trust assumptions while allowing AI systems to remain intelligent, contextual, and useful.

## Building Toward Private AI

This release is part of a broader vision for how AI infrastructure should evolve.

As AI agents begin managing workflows, coordinating with one another, and maintaining long-term memory, users should not have to choose between personalization and privacy. Applications should receive only the information required to perform a task—and nothing more.

We believe the future of AI will be defined not only by more capable models, but by better infrastructure for identity, permissions, and memory.

Automatic PII redaction is one step toward that future, making it easier for developers to build AI applications that protect users by default while preserving the context that makes modern AI possible.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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SPX6900 [SPX] gained more than 12% in the past 24 hours as the trading volume surged by 62% at press time.

However, the memecoin sector has been in a constant decline since the October 10 crash, but there have been glimpses of revival. Still, these periods of gains have not been widespread across the sector, as a few memes tend to outpace others.

In SPX’s case, both rising daily volume and increased on‑chain activity contributed to its latest move higher. 

Solana whales drive SPX6900 as transfers surge Of this high volume, whales on the Solana [SOL] were the biggest contributors to the capital inflow. As per Nansen AI, these whales increased their holdings by more than 65% in the past 24 hours.

Source: Nansen AI Additionally, exchange balances declined by more than 3%, another indication of accumulation.

However, other big players did not play a part. That is, the top 100 addresses, smart money, and public figures reduced their positions. This meant that whale capital outweighed that of other big players, resulting in a higher price.

Moreover, the transfer amount and number of transactions on the Ethereum [ETH] network have started to pick up from a monthly low established three days ago.

Numerically, the transfer amount has risen from 2.899 million SPX to 11.313 million tokens, representing nearly a 4x increase. The number of transactions grew from 986 to 1,808, which is equivalent to a 2x increase over the past three days.

Source: Etherscan Moreover, the coin capitalized on general risk-on flows that resulted from easing fears about aggressive Fed policy. Hence, the DEX volume for memecoins hit $11.63 billion, driven by volatile tokens like SPX6900.

Can SPX reclaim the top band of the range? But that’s not all.

SPX broke out above the midpoint of a sideways range, a level it has repeatedly tested since the start of the year. These levels were $0.2537 and $0.4878, with the mid-level at $0.3716.

Despite the memecoin  mainly being distributed, buying has exceeded selling, with the Net Volume at 312.84K tokens. However, the Accumulation/Distribution indicator shows over 53 million SPX being sold, signaling underlying market weakness.

Source: SPX/USDC on TradingView Therefore, if the whales’ capital continues to outweigh that of other big players and the technical breakout holds, SPX may hit $0.48.

Otherwise, failing to stay above $0.37, the memecoin may drop back to the $0.28-$0.30 zone or to the lower band of the range at $0.24.

Final Summary SPX6900 surged more than 12% in the past 24 hours amid the return of whales and an increase in transfer amounts and transactions.  SPX whales target $0.48, but only if the price holds above $0.37; otherwise, it may drop back to $0.24. 

Crypto Briefing approved image library

Crypto markets experienced a rise after the latest Consumer Price Index (CPI) data release, with a noted increase in the probability of a Federal Reserve rate cut. The SEC also engaged in discussions with Hyperliquid, a decentralized perpetual futures exchange, regarding crypto regulation. The CPI print showed a 2.7% year-over-year increase, aligning with forecasts, while the core CPI slightly exceeded expectations. This data has fueled market speculation about potential changes in monetary policy. Meanwhile, the SEC’s meeting with Hyperliquid may suggest forthcoming regulatory clarity, potentially impacting the decentralized finance sector positively.

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Key Takeaways Crypto market activity appears to have been influenced by the recent CPI data, suggesting increased speculation about Federal Reserve rate adjustments. The SEC’s discussions with Hyperliquid indicate possible regulatory developments, which market participants interpret as potentially favorable for decentralized perpetual futures. Market pricing for Hyperliquid’s token suggests that participants view the SEC’s engagement as a factor that could support a rise in its value. What to Watch Observers will be monitoring further communications from the Federal Reserve regarding interest rate decisions, which could impact broader market sentiment. Additionally, any formal statements from the SEC or Hyperliquid following their meeting could provide insights into regulatory changes, influencing market perceptions of Hyperliquid’s future. Watch for price movements in Hyperliquid’s token and related market activity as investors react to developments in regulatory clarity and economic data.

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Term Structure

Contract Odds Δ since publish Volume 24h December 31 30.5% — — View market → January 1 2027 5.7% — — View market → January 1 2027 4% — — View market → January 1 2027 69% — — View market → January 1 2027 9.1% — — View market → January 1 2027 4.5% — — View market →

According to EmberCN’s monitoring, as Bitcoin (BTC) rebounds above $65,000, the whale holding a $49 million short BTC position on Hyperliquid has less than $900 remaining to its liquidation price. The whale shorted 750 BTC at an average price of $59,941 at the end of June, incurring an unrealized loss of $4 million, with a liquidation price of $66,153.

Relevant content

Crypto liquidation startup Glacis Labs completes $6.8 million seed round financing.

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4 hours ago

English한국어日本語繁體中文ไทยPortuguêsItalianoDeutschFrançaisEspañol Decentralized exchange Hyperliquid has listed a pre-IPO perpetual futures contract tied to ChangXin Memory Technologies, China’s largest DRAM producer, ahead of the chipmaker’s July 27 Shanghai STAR Market debut.

The contract traded near $8 on July 15, implying a valuation of roughly $535 billion, about 526% above CXMT’s official IPO pricing of RMB 8.66 per share.

A $535B Implied Valuation on a Synthetic Rail CXMT priced its initial public offering at RMB 8.66 per share and expects to raise approximately RMB 57.9 billion ($8.55 billion) before any over-allotment option. Reuters reported the deal will be Asia’s largest IPO of 2026 and China’s biggest A-share semiconductor offering, surpassing SMIC’s 2020 share sale. 

At CXMT’s expected post-listing share count of 66.881 billion, the Hyperliquid contract’s $8 price implies a market capitalization roughly 6.3 times the official IPO valuation. Investor subscriptions for the STAR Market offering open on July 16.

The contract launched via Hyperliquid’s HIP-3 framework, which allows third-party deployers to create perpetual markets linked to assets beyond cryptocurrencies. The CXMT listing followed Hyperliquid‘s earlier addition of a CSI STAR Market 50 ETF contract, signaling a deliberate expansion into Chinese tech equities.

Why the Premium May Not Signal Fair Value Eric Chen, co-founder and CEO of Injective Labs, told CNBC in a June interview about pre-IPO perpetuals that such markets “are dominated by very active, risk-tolerant traders, and they aren’t pricing in a massive premium versus other pre-IPO names.” 

The observation applies to the CXMT contract, where the 526% gap reflects synthetic derivatives pricing among a narrow trader base, not a consensus equity valuation.

Individual investors on China’s STAR Market face a RMB 500,000 asset threshold and a two-year experience requirement, meaning Hyperliquid’s contract is one of the few channels for offshore retail exposure to the IPO.

Hyperliquid Builds an Equity Derivatives Layer The CXMT listing fits a pattern. Hyperliquid hosted a pre-IPO SpaceX perpetual that traded months before its June Nasdaq debut, and Coin Metrics reported that an earlier Cerebras pre-IPO contract priced the chipmaker within 1.3% of its eventual opening trade. Across all pre-IPO markets on the platform, cumulative volume has exceeded $1.46 billion. 

That track record positions Hyperliquid less as a speculative venue and more as an emerging price-discovery layer for companies before they reach traditional exchanges. The broader context adds weight. CXMT ranks as the world’s fourth-largest DRAM producer behind Samsung Electronics, SK Hynix, and Micron, with recent market estimates placing its global DRAM share near 8%. 

The company has expanded rapidly as China invests in domestic semiconductor production to reduce reliance on foreign chip supply, a strategy accelerated by U.S. export restrictions on advanced memory technology. Attention now turns to whether the 526% premium narrows after CXMT subscriptions open on July 16 and the shares begin trading on July 27. 

CXMT also disclosed a long-term memory supply agreement with Tencent worth more than RMB 20 billion ($2.94 billion), a contract that may anchor institutional interest once the stock is live. The listing tests whether on-chain derivatives can serve as credible pre-IPO pricing tools for companies with limited global market access.

English한국어日本語繁體中文ไทยPortuguêsItalianoDeutschFrançaisEspañol L’exchange decentralizzato Hyperliquid ha quotato un contratto futures perpetuo pre-IPO legato a ChangXin Memory Technologies, il maggiore produttore cinese di DRAM, in vista del debutto del produttore di chip al Shanghai STAR Market previsto per il 27 luglio.

Il contratto ha scambiato vicino a $8 il 15 luglio, il che implica una valutazione di circa $535 miliardi, ossia circa il 526% al di sopra del prezzo ufficiale di IPO di CXMT, fissato a RMB 8,66 per azione.

Una valutazione implicita di $535 miliardi su un binario sintetico CXMT ha fissato il prezzo della sua offerta pubblica iniziale a RMB 8,66 per azione e si attende di raccogliere circa RMB 57,9 miliardi ($8,55 miliardi) prima di eventuali opzioni di over-allotment. Reuters ha riferito che l’operazione sarà la più grande IPO asiatica del 2026 e la maggiore offerta cinese sul mercato A-share nel settore dei semiconduttori, superando la raccolta azionaria di SMIC del 2020.

Con il numero di azioni previsto post-quotazione di CXMT pari a 66,881 miliardi, il prezzo di $8 del contratto Hyperliquid implica una capitalizzazione di mercato pari a circa 6,3 volte la valutazione ufficiale dell’IPO. Le sottoscrizioni degli investitori per l’offerta sul STAR Market aprono il 16 luglio.

Il contratto è stato lanciato tramite il framework HIP-3 di Hyperliquid, che consente a deployer terzi di creare mercati perpetui collegati ad asset diversi dalle criptovalute. La quotazione di CXMT è arrivata dopo che Hyperliquid aveva già introdotto un contratto sull’ETF CSI STAR Market 50, segnalando un’espansione deliberata verso i titoli tecnologici cinesi.

Perché il premio potrebbe non riflettere il fair value Eric Chen, co-fondatore e CEO di Injective Labs, ha dichiarato a CNBC in un’intervista di giugno sui perpetui pre-IPO che tali mercati “sono dominati da trader molto attivi e disposti al rischio, che non stanno prezzando un premio massiccio rispetto ad altri nomi pre-IPO”.

L’osservazione si applica al contratto CXMT, dove il divario del 526% riflette il pricing dei derivati sintetici tra una base ristretta di trader, non un consenso sulla valutazione azionaria.

Gli investitori individuali sul STAR Market cinese devono soddisfare una soglia patrimoniale di RMB 500.000 e un requisito di esperienza di due anni, il che significa che il contratto di Hyperliquid è uno dei pochi canali per l’esposizione retail offshore all’IPO.

Hyperliquid costruisce uno strato di derivati azionari La quotazione di CXMT si inserisce in uno schema ricorrente. Hyperliquid ha ospitato un perpetuo pre-IPO su SpaceX che ha scambiato per mesi prima del debutto a Nasdaq di giugno, e Coin Metrics ha riportato che un precedente contratto pre-IPO su Cerebras aveva prezzato il produttore di chip a un margine dell’1,3% rispetto al suo effettivo prezzo di apertura. Considerando tutti i mercati pre-IPO sulla piattaforma, il volume cumulativo ha superato $1,46 miliardi.

Questo track record posiziona Hyperliquid non tanto come sede speculativa, ma piuttosto come un emergente strato di price discovery per le aziende prima che raggiungano le borse tradizionali. Il contesto più ampio aggiunge peso alla vicenda. CXMT si classifica come il quarto maggiore produttore mondiale di DRAM dietro Samsung Electronics, SK Hynix e Micron, con recenti stime di mercato che collocano la sua quota globale di DRAM vicino all’8%.

L’azienda si è espansa rapidamente mentre la Cina investe nella produzione domestica di semiconduttori per ridurre la dipendenza dalle forniture estere di chip, una strategia accelerata dalle restrizioni statunitensi sull’export di tecnologia di memoria avanzata. L’attenzione ora si sposta sulla possibilità che il premio del 526% si riduca dopo l’apertura delle sottoscrizioni di CXMT il 16 luglio e l’inizio delle negoziazioni delle azioni il 27 luglio.

CXMT ha inoltre reso noto un accordo di fornitura a lungo termine di memorie con Tencent per un valore superiore a RMB 20 miliardi ($2,94 miliardi), un contratto che potrebbe ancorare l’interesse istituzionale una volta che il titolo sarà quotato. La quotazione metterà alla prova la capacità dei derivati on-chain di fungere da strumenti di pricing pre-IPO credibili per aziende con accesso limitato ai mercati globali.

MEXC is betting that the line between crypto trading and traditional capital markets is disappearing. Its SpaceX pre-IPO offering drew over 74,000 participant entries and generated more than 7.1 billion USDT in futures volume, while RealStocks, its gateway to U.S. stocks and ETFs, topped 120,000 users shortly after launch.

Blockchain Reporter spoke with MEXC CEO Vugar Usi about what’s driving this growth, why AI-linked tokens overtook meme coins on the exchange, and how MEXC is positioning itself at the intersection of crypto, equities, and AI.

1. How is the MEXC exchange transforming into an inclusive gateway for popular U.S. stocks, pre-IPO investing, tokenized assets, and ETFs?

The traditional distinction between crypto markets and capital markets is becoming less relevant for users. People increasingly want access to multiple asset classes from a single account and a familiar trading environment. We believe the future of exchanges will be shaped by the breadth and quality of access they provide.

Our focus has been to build that access layer. During Q2, we expanded our offering across pre-IPO opportunities, stock futures, tokenized assets, and RealStocks. Through RealStocks, eligible users can access more than 7,000 U.S. stocks and ETFs through a licensed securities broker partner. We see this as a natural evolution of the exchange model.

2. What is the reason behind the growing traction of tokenized assets among rapidly expanding categories on cryptocurrency exchanges?

What we are seeing is demand for familiar assets through crypto-native infrastructure. Investors already understand companies, stocks, ETFs, and private-market opportunities. What changes is the way they access them.

Tokenized assets can make market access more flexible for users who already operate within digital-asset ecosystems. The strongest demand tends to emerge around assets with a clear underlying narrative. According to CoinGecko, tokenized pre-IPO perpetual trading volume rose by approximately 1,060%, with SpaceX accounting for the largest share of activity. Investors are more likely to engage when the underlying asset is familiar and access fits their existing trading habits.

3. How is the SpaceX pre-IPO on MEXC witnessing a massive number of subscriptions and 7.1 billion USDT in total futures trading volume?

The demand was visible at every stage. Our two SPACEX(PRE) rounds attracted more than 74,000 participant entries and generated over 173 million USDT in subscriptions. The first round reached a peak oversubscription ratio of 15.5x, while the second exceeded 30x.

Activity continued well beyond the subscription phase. Following the June 12 listing, SpaceX-related perpetual futures generated more than 7.1 billion USDT in trading volume. Weekly trading activity rose by as much as 1,727%, and open interest increased by 2,687% from launch.

4. What is the role of MEXC’s RealStocks project in connecting crypto trading and traditional finance for worldwide investors?

RealStocks was designed to solve a practical problem. Many crypto users want exposure to public equities but do not want to manage separate platforms and funding processes for each asset class.

RealStocks gives eligible users access to real U.S. stocks and ETFs through a licensed securities broker partner. By June 18, dividend settlements had been completed for 34 U.S. stocks and ETFs. RealStocks therefore provides a more direct route from a crypto-native environment into traditional equity markets.

5. How can tokenized pre-IPO investing redefine access to next-gen private entities for global and retail investors?

Private-market access has long been out of reach for many retail investors. Tokenized pre-IPO products can make that access more practical for eligible users by bringing it into familiar trading environments.

The response to SPACEX(PRE) showed clear demand for earlier access to high-profile private companies. As the category matures, we need to explain in plain language what each product involves, who qualifies, how settlement works, and what rights investors receive.

6. What does the swift RealStocks adoption disclose about the growing investor interest in U.S. ETFs and stocks via crypto platforms?

The early adoption gives us a clear signal that crypto users are interested in accessing U.S. equities and ETFs through platforms they already use.

RealStocks surpassed 120,000 cumulative users shortly after launch, and 52% of newly opened accounts proceeded to make a deposit. Users traded 814 different stocks and ETFs, with 15 assets generating more than 100,000 USDT in trading volume. Early adoption translated into funded accounts and active trading.

7. How are AI, crypto trading, and stock markets witnessing growing connections in line with a staggering 142% rise in futures trading led by Micron?

Following Micron’s June earnings release, trading volume in MU futures on MEXC rose by approximately 142% from the previous day. We also saw activity extend into SanDisk, SK hynix, and DRAM-linked products.

The pattern suggests that users were trading a broader AI supply-chain theme around the earnings event. It is one example of how developments in the stock market can quickly carry into equity-linked products traded through crypto infrastructure.

8. What turns AI into one of the top investment narratives in comparison with meme coins amid the rising performance of AI-agent initiatives?

We saw a clear change in Q2. Six of the ten highest-gaining new tokens on MEXC were linked to AI-agent projects, while only one was a meme coin. In Q1, meme coins had led the ranking.

Trading activity showed the same pattern. Four of the ten highest-volume new listings were AI and infrastructure projects. The projects attracting attention are tied to compute resources, identity systems, trading agents, and other infrastructure supporting AI adoption.

9. What is MEXC’s plan to capitalize on the merger of conventional financial markets, blockchain, and AI?

We believe the boundaries between these sectors will continue to narrow. Our objective is to simplify and streamline access to different markets through blockchain-based infrastructure. That path includes pre-IPO opportunities, stock futures, tokenized assets, RealStocks, USD1 integration, and TradingView execution.

We want those products to work more closely together so users can move between different forms of market exposure with less friction. AI currently enters this strategy through the assets users are trading, including AI-agent projects and semiconductor-linked futures.

10. How does the TradingView integration improve the futures trading experience?

Most active traders already spend a significant amount of time analyzing markets through charting tools. The TradingView integration allows users to place perpetual futures orders directly from TradingView charts, moving from analysis to execution without switching tabs.

Users can maintain their existing chart layouts and trading processes while accessing MEXC futures markets from the same environment. Removing friction between analysis and execution is particularly valuable in fast-moving markets.

11. What is the influence of the stablecoin USD1’s integration on trading activity, user growth, and network expansion?

The early response was strong. Our first USD1 campaign attracted more than 161,000 participants, while new users generated approximately 2.4 billion dollars in cumulative futures trading volume.

The figures show that users are willing to adopt new dollar-denominated assets when those assets are integrated into products they already use. MEXC is expanding USD1’s role across trading support, product integration, and wider ecosystem participation. The first campaign showed that USD1 can drive meaningful participation when integrated into trading products users already understand.

12. With an average Proof of Reserves ratio of 156.5% across major assets on MEXC in June, what is the significance of overcollateralization and transparency in building long-term trust?

In July, MEXC reported Proof of Reserve ratios of 119% for USDT, 115% for USDC, 281% for BTC, and 114% for ETH, averaging 157.25% across those major assets. We publish these figures so users can see how platform balances are backed.

Reserves above user balances reflect a conservative approach to asset backing. Regular reporting also gives users a consistent basis for assessing how the platform manages reserves over time.

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. And check out our new daily news show covering all of the top stories in 5 minutes, downloadable on Apple Pod or Spotify.

GM!

Today’s top news:

Crypto majors are up 3-6% after a cold CPI print; BTC at $64.6k HYPE jumps 7% to $68 as SEC Crypto Task Force meets with HPC team Mizuho downgrades Circle to $50 target, cites OpenUSD competition Pump.fun hits first major unlock as $86M in PUMP hits market (PUMP +15%) Robinhood Chain sees major rotation from memes to protocols 📈 Crypto Rips on Cool CPI, but Warsh Won’t Call It a Win

The soft inflation print crypto was waiting for finally landed.

June CPI fell 0.4% month over month, the biggest monthly decline since April 2020, dropping the annual rate to 3.5% from May’s 4.2% and coming in under the 3.8% expected. Core CPI cooled to 2.6%, below forecasts, and was flat on the month.

Crypto squeezed higher within minutes. Bitcoin jumped from around $62,000 to reclaim $64,900, ETH surged 7% to $1,884, and roughly $300 million in short positions were liquidated as bears got run over.

Notably, this was the last major inflation read before the Fed’s July 28-29 meeting, and it undercuts the rate-hike case that’s been capping the market all summer. The odds of a July rate cut fell from 35% on Polymarket to just 6% in the wake of CPI + Warsh’s commentary. Though odds of at least 1 hike are still ~80% by end of year (down from 90%).

Within hours of the CPI print, Fed Chair Kevin Warsh testified to Congress, his first appearance since taking over from Powell. The major takeaway from his testimony was his comment that if the Fed gets policy right, the inflation surge of the last five years “will be a thing of the past.” He leaned hard into the AI story too, calling business investment the most striking feature of the economy and predicting that what’s now called “AI investment” will soon just be called “investment,” a view that AI is fundamentally disinflationary.

Warsh: Fed has “no tolerance for persistently elevated inflation”

“If we get policy right—and we will—the inflation surge of the last five years will be a thing of the past.” https://t.co/RvCRxzdPuS

— Nick Timiraos (@NickTimiraos) July 14, 2026

That said, when asked directly about the morning’s CPI data, he pushed back on the optimism, saying some might look at it and declare “mission accomplished,” and then adding flatly, “that is not my view.” He gave no forward guidance, no signal on the next move, and reminded lawmakers the committee has “no tolerance” for elevated inflation. Some (myself included) may interpret that as a bit hawkish, and it does still feel like a rate hike may very well come in 2026.

Perhaps we will learn more at FOMC in 2 weeks. Until then, enjoy the pump…

🌎 Macro Crypto and Markets Crypto majors are very green after a cold CPI print; BTC +3% at $64.6k; ETH +5% at $1,880; SOL +3% at $77; HYPE +7% at $68 PI (+15%), PUMP (+14%) and ZEC (+13%) led top movers Oil -1% at $80; Gold -1% at $4,035 Stock futures are slightly green; DOW flat, Nasdaq +0.4% The SEC Crypto Task Force met with Hyperliquid’s Policy Center on Tuesday to discuss crypto regulation and how Hyperliquid fits in Several Senate Democrats came out against the CLARITY Act, calling it a “corrupt bill” at a press conference, escalating opposition over its failure to bar Trump and his family from profiting off crypto The CFTC moved to stop Kalshi from canceling trades as ordered by a Michigan court, siding with the prediction-market platform in a jurisdictional clash between the federal regulator and the state The US and UK moved to align rules for tokenized finance, linking the world’s two largest financial markets in a coordinated push to set shared standards as tokenization scales JPMorgan said Hyperliquid’s rise threatens Circle’s USDC economics, creating a “prisoner’s dilemma” that pits Circle and Coinbase against each other for distribution Mizuho downgraded Circle to underperform and cut its price target to $50 on the Open USD threat, warning the 140-backer consortium endangers USDC’s core reserve-yield economics Meanwhile, Circle signed an MOU with JCB, Japan’s largest card network, to explore stablecoin payments across roughly 40 million merchants Coinbase’s Head of Platform said that 95-100% of its code is now written by AI or AI-assisted Corporate Treasuries & ETFs

The Bitcoin ETFs saw $181M in net inflows on Tuesday; the ETH ETFs saw $58M in inflows Tom Lee’s Bitmine generated $45M from ETH staking in Q2 according to their latest filing Meme Coin Tracker

Meme leaders were mostly green up 2-3%; DOGE +2%, SHIB +3%, PEPE +2%, PENGU +7%, TRUMP +2%, BONK -3% Robinhood chain memes had a volatile day as previous leaders sold off with Cashcat -30%, Juggernaut -38% and Hoodrat -47%, while new launchpad PONS jumped 13x and new RWA protocol INDEX jumped 400% No notable action on Solana 📈 Myriad Market of the Day💰 Token, Airdrop & Protocol Tracker Pump.fun completed its first major unlock at the 1-year mark, with $86M in team and investor PUMP tokens hitting the market Binance is betting on becoming a crypto "super-app" as stablecoins reshape its growth, expanding beyond trading into payments and financial services. 🚚 What is happening in NFTs? NFT leaders were mostly flat; Punks even at 32.4 ETH, BAYC +1% at 8.94 ETH, Pudgy +1% at 4.37 ETH; Hypurr’s -2% at 175 HYPE Cryptoadz (+22%) and Trolls (+26%) led top movers New Robinhood NFT sets jumped including RDEGEN Hood (+450%) and Post Mortem (+60%) Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.