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Crypto & Web3CoinDesk ·

Jack Mallers Exits XXI Capital CEO Role as Tether's Three-Way Bitcoin Merger Collapses

Jack Mallers has stepped down as CEO of XXI Capital amid the collapse of a planned three-way merger. The deal, orchestrated by Tether, was intended to combine Twenty One Capital, Mallers' payments firm Strike, and Elektron Energy into a single bitcoin-focused entity. The ambitious consolidation plan has now been abandoned entirely. Mallers' departure marks a significant shift in Tether's strategy to build a major unified bitcoin business.

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Crypto & Web3CoinDesk ·

Polymarket odds for US crypto bill rise to 43% amid unverified Trump ethics deal reports

Prediction market Polymarket has seen odds for a US crypto market structure bill passing in 2025 jump to 43%, recovering from a record low recorded last week. The surge follows unverified reports suggesting former President Donald Trump agreed to an ethics-related deal tied to the legislation. However, no official bill text has been published, and the reports have not been independently confirmed. Market bettors appear to be reacting to speculation rather than concrete legislative progress.

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Crypto & Web3CoinDesk ·

Crypto Markets Rally as Trump Ethics Clause Speculation Boosts Structure Bill

Cryptocurrency markets posted gains amid speculation that President Donald Trump has agreed to a key ethics provision within a proposed crypto market structure bill. The development fueled optimism that meaningful regulatory clarity for the crypto industry may be closer to becoming law. Asian chip stocks also rebounded, adding broader positive momentum to digital asset markets. The combination of legislative progress and regional equity strength underpinned the overall rally in crypto prices.

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Crypto & Web3CoinDesk ·

XRP rises 4% but faces key resistance zone between $1.24 and $1.28

XRP gained approximately 4% over a 24-hour period, drawing attention from traders monitoring a potential technical breakout. The cryptocurrency tested short-term resistance levels during the move upward. However, analysts note that a more convincing recovery would require a clean break above the $1.24–$1.28 supply zone. Until that level is decisively cleared, the broader chart pattern does not yet confirm a stronger trend reversal. Traders are watching whether XRP can sustain momentum toward the $1.35 target.

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Crypto & Web3CoinDesk ·

Bitcoin ETFs record fifth consecutive day of inflows, longest streak since April

U.S. Bitcoin ETFs have logged a fifth straight day of net inflows, marking the longest sustained buying streak since April. The five-day run has attracted approximately $727 million in total inflows. This stretch of consistent buying stands out as notably positive following a turbulent period that included record outflows in June. The renewed investor appetite signals a potential shift in sentiment toward Bitcoin ETF products.

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Crypto & Web3CoinDesk ·

UK Parliament launches inquiry into banks blocking crypto firms from accounts

The UK's Crypto and Digital Assets All-Party Parliamentary Group (APPG) has initiated a formal inquiry into banking access issues faced by cryptocurrency businesses. The investigation centers on banks that have either refused to open accounts for crypto firms or imposed restrictions on crypto-related transactions. The APPG, a cross-party group of parliamentarians, is examining what critics have called a 'chokepoint' that limits the ability of crypto companies to operate. The inquiry reflects growing concern among UK lawmakers about whether financial institutions are unfairly restricting a legitimate and emerging sector of the economy.

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Crypto & Web3CoinDesk ·

Bitcoin climbs to two-week high near $65,500 on semiconductor rebound and ETF inflows

Bitcoin surged to nearly $65,500, reaching its highest level in two weeks. Asian semiconductor stocks staged a strong rebound, providing a positive tailwind for risk assets including crypto. A five-day streak of inflows into Bitcoin ETFs crossed the $600 million mark, signaling renewed investor appetite. Meanwhile, oil prices retreated amid diplomatic developments in the Middle East, easing broader market tensions.

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Crypto & Web3CoinDesk ·

Cardano Completes 'Van Rossum' Hard Fork, Upgrades to Version 11

Cardano successfully executed its 'Van Rossum' hard fork on Saturday, moving the blockchain network to version 11. The upgrade marks a significant milestone as it was the first time the Cardano community voted to approve the change, rather than the decision being made by its founding company. This shift in governance signals a move toward greater decentralization for the network. The development represents a notable transition in how future Cardano upgrades may be decided and implemented.

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Crypto & Web3CoinDesk ·

Exodus to lay off 25% of staff amid pivot to full-stack payments platform

Crypto wallet company Exodus has announced it will cut approximately 25% of its global workforce as part of a major strategic restructuring. The company is shifting its focus toward building a full-stack payments platform. This move follows Exodus's recent acquisitions of fintech firms Monavate and Baanx. The layoffs are directly tied to realigning resources around the company's new payments-oriented direction.

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Crypto & Web3CoinDesk ·

Hut 8 Shares Surge After Signing $9.8 Billion AI Data-Center Lease Deal

Bitcoin miner and infrastructure firm Hut 8 has secured a major long-term lease agreement valued at $9.8 billion for AI data-center capacity. The announcement triggered a notable rally in Hut 8's stock price, with positive momentum spreading across the broader AI compute sector. The deal came at a time when investor confidence in data center demand had been wavering, raising questions about the pace of new capacity buildout. The lease appears to have reassured markets that appetite for AI infrastructure remains strong. The development signals continued institutional commitment to large-scale AI computing resources.

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Crypto & Web3CoinDesk ·

Bitmine Slows Ether Accumulation After $86M Stock Buyback

Bitmine, the crypto investment firm associated with Tom Lee, significantly slowed its Ethereum purchases last week, adding only 7,430 ETH valued at approximately $14 million. The reduced buying came as the company simultaneously executed an $86 million stock buyback program. Bitmine has been on an aggressive campaign to acquire Ethereum, with an stated goal of controlling 5% of the total ETH supply. The latest modest purchase suggests the company is balancing capital allocation between its crypto holdings and returning value to shareholders.

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Crypto & Web3CoinDesk ·

Strategy Boosts Cash Reserves to $3.225B While Holding Bitcoin Steady

Michael Saylor's Strategy firm has raised its cash reserves to $3.225 billion without making any changes to its bitcoin holdings. This marks the second consecutive week the company has chosen not to add to its cryptocurrency position. The newly raised capital is being directed toward strengthening cash reserves rather than purchasing bitcoin. The firm intends to use these funds to cover dividend payments on its preferred stock.

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Crypto & Web3CoinDesk ·

Brazil's securities regulator forms task force to draft tokenization rules in 60 days

Brazil's securities regulator has established a dedicated task force to develop a regulatory framework for asset tokenization. The group has been given a 60-day deadline to produce a formal proposal. The framework is expected to tackle key issues surrounding digital assets, including official ownership records and private key custody. It will also address concerns around transaction reversibility and system liability. The move signals Brazil's push to bring clearer regulatory oversight to the growing tokenization sector.

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Crypto & Web3CoinDesk ·

Bank of Korea to pilot live CBDC transactions with 9 banks in September

The Bank of Korea is preparing to launch a live central bank digital currency (CBDC) pilot in September. The test will involve nine commercial banks participating in a large-scale blockchain network trial. Retail consumers will be able to conduct real transactions using a tokenized version of the South Korean won. The pilot aims to assess the feasibility of digital currency transfers across multiple commercial banking lines.

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Crypto & Web3CoinDesk ·

Crypto Slides Despite Stock Gains as Fear Sentiment Dominates Markets

Cryptocurrency prices declined during a recent trading session even as stock index futures moved higher, reflecting a divergence between the two asset classes. Market sentiment in the crypto space remained firmly in 'fear' territory, according to the Fear and Greed Index. The broader digital asset market saw little notable activity, making for a relatively quiet session overall. The standout mover was PUMP, which surged approximately 20% amid heightened social media chatter surrounding the token.

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Crypto & Web3CoinDesk ·

Hyperliquid to Launch Decentralized Prediction Markets via HIP-4 Upgrade

Hyperliquid has announced plans to introduce permissionless prediction markets as part of an upgrade to its HIP-4 protocol. The new feature will allow users to participate in decentralized prediction markets without requiring permission. The rollout will follow a staged approach, beginning on testnet before eventually moving to the mainnet. This upgrade marks a significant expansion of Hyperliquid's decentralized finance offerings.

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Crypto & Web3CoinDesk ·

Allbridge suspends operations after $1.65M flash loan attack

Cross-chain protocol Allbridge has halted its operations following a flash loan exploit that resulted in losses of approximately $1.65 million. The attacker borrowed $1.12 million via Kamino, a decentralized lending platform, to execute the scheme. By using the flash loan, the exploiter manipulated the liquidity pool ratios within the Allbridge protocol. This manipulation allowed the attacker to withdraw assets at artificially favorable rates before moving the funds across chains.

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