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Crypto & Web3CoinDesk ·

US Crypto Clarity Act Stalls as Senate Summer Recess Looms

A key U.S. cryptocurrency legislation bill has missed a critical legislative window ahead of the Senate's summer recess. The Clarity Act, which aimed to provide regulatory framework for the crypto industry, failed to advance in time. With the bill's prospects uncertain, stakeholders in the crypto sector are now exploring alternative regulatory pathways. Despite the legislative setback, the broader cryptocurrency market and industry are expected to continue operating and evolving.

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Crypto & Web3CoinDesk ·

BIP-110 Pushes Toward Activation Despite Minimal Miner Backing

Bitcoin Improvement Proposal 110 (BIP-110) is advancing toward its scheduled activation date despite receiving support from only a tiny fraction of miners. Unlike traditional proposals that require broad miner consensus, BIP-110 is designed to be user-activated, meaning it does not depend on miner approval to proceed. This structural design allows the proposal to continue progressing even in the absence of significant mining community backing. As a result, BIP-110 is expected to reach and likely pass its activation date regardless of miner participation levels.

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Crypto & Web3CoinDesk ·

Bitcoin Stays Below $65,000 Amid Rising Middle East Tensions

Bitcoin continued to trade under the $65,000 mark as geopolitical tensions in the Middle East intensified. The situation was further inflamed after Yemen's Iran-linked Houthi forces launched an attack on Saudi Arabia. The unrest contributed to a rise in oil prices, with Brent crude climbing above $83 per barrel. Escalating regional conflicts have historically introduced uncertainty into financial markets, including cryptocurrencies.

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Crypto & Web3CoinDesk ·

210,000 Bitcoin Exits Long-Term Wallets Amid Coldcard Security Concerns

Approximately 210,000 bitcoin has moved out of long-term holder wallets over the past week, according to on-chain data. The movement appears linked to fallout surrounding Coldcard, a popular hardware wallet used for cold storage of cryptocurrency. Analysts suggest the transfers likely reflect users migrating to alternative custody solutions rather than selling their holdings. The scale of the movement is notable, as long-term holder wallets typically see minimal activity.

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Crypto & Web3CoinDesk ·

Crypto Market Maker Wintermute Gets SEC Approval to Trade Stocks and ETFs

Wintermute, a prominent cryptocurrency market maker, has received approval from the U.S. Securities and Exchange Commission to trade equities and ETF blocks. The green light allows the firm to expand its operations into US stocks and options markets. This marks a significant step for a crypto-native firm crossing over into traditional financial markets. The development reflects a broader trend of convergence between the cryptocurrency industry and conventional financial systems.

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Crypto & Web3CoinDesk ·

Ethereum's weETH token separates staking from restaking amid rewards debate

The Ethereum liquid staking token weETH has been restructured to distinguish standard ETH staking from the higher-risk practice of restaking. This separation comes as a heated debate unfolds within the Ethereum community over a new proposal to cap validator rewards. The proposal has drawn sharp divisions across the staking sector, with stakeholders disagreeing on its potential impact. The split is seen as a response to growing concerns about risk differentiation in Ethereum's evolving staking ecosystem.

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Crypto & Web3CoinDesk ·

Bitcoin Holds at $64,300 as Markets Await US Jobs Report

Bitcoin remained largely unchanged around $64,300 as traders awaited the release of the US non-farm payrolls report, a key economic indicator. Brent crude oil prices climbed following a stall in negotiations over the Strait of Hormuz, reigniting inflation concerns. Rising oil prices have weighed on Bitcoin throughout the summer by fueling fears of prolonged higher interest rates. The jobs report is now seen as the next major catalyst that could influence Bitcoin's price direction.

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Crypto & Web3CoinDesk ·

Bitcoin Whales Accumulate $1.2B in BTC as Spot ETFs Draw $754M in a Week

Large Bitcoin holders, commonly referred to as whales, purchased approximately $1.2 billion worth of BTC in a single week. Simultaneously, spot Bitcoin exchange-traded funds attracted around $754 million in inflows during the same period. The dual surge in accumulation signals renewed institutional and high-net-worth investor confidence in Bitcoin. Together, these inflows reflect a notable uptick in demand from major market participants.

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Crypto & Web3CoinDesk ·

Dormant Bitcoin Wallet From 2011 Transfers $3.2M to FalconX-Linked Address

A Bitcoin wallet that had been inactive since 2011 recently moved 50 BTC, worth approximately $3.2 million, to an address linked to crypto prime broker FalconX. The funds were still sitting in the receiving address as of Friday, with no further movement recorded. The destination wallet has previously sent funds to FalconX-labeled deposit addresses, raising questions about the transfer's intent. Analysts are uncertain whether the long-dormant holdings are being reorganized internally or positioned closer to a trading venue for potential liquidation.

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Crypto & Web3CoinDesk ·

Bitcoin Eyes Potential Surge to $76,000 as Bullish Pattern Takes Shape

Bitcoin's price chart is reportedly forming a technical pattern that analysts consider a bullish signal. The setup, closely monitored by technical traders, suggests a possible rally toward the $76,000 level. However, the pattern has not yet been confirmed, leaving the outlook uncertain. A single key price level will be critical in determining whether the bullish scenario materializes or fails.

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Crypto & Web3CoinDesk ·

XRP drops 5.5% as Senate delays crypto market structure bill to September

XRP was the worst-performing major cryptocurrency this week, declining 5.5% as the U.S. Senate adjourned without voting on the crypto market structure Clarity Act. Bitcoin and Ether also recorded losses, though significantly smaller than XRP's decline. The Senate's departure from Washington pushed any potential vote on the bill to September at the earliest. The Clarity Act, which aims to establish a regulatory framework for crypto markets, had been anticipated as a key catalyst for the sector.

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Crypto & Web3CoinDesk ·

US Senate to Skip Crypto Clarity Act Vote Before Summer Recess

The US Senate will not hold a vote on the Clarity Act before heading into its summer break, dealing a setback to the cryptocurrency legislation. The delay significantly reduces the chances of the bill being signed into law within this calendar year. While the Senate has not yet departed for its August recess, the Clarity Act has been pushed off the chamber's near-term agenda. Supporters of the bill, which aims to provide regulatory guidance for the crypto industry, will now have to wait for lawmakers to return before pushing for further progress.

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Crypto & Web3CoinDesk ·

Control battle erupts at Ondo Finance following founder Nathan Allman's death

A power struggle has emerged at Ondo Finance following the death of its founder, Nathan Allman. Three separate filings in a Delaware court have brought the dispute to light. The legal documents indicate competing parties are contesting control of the blockchain finance firm. The situation underscores the governance vulnerabilities that can arise in crypto ventures when a founding leader dies unexpectedly.

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Crypto & Web3CoinDesk ·

Tether Enters Saudi Arabia with Real Estate Tokenization Push

Stablecoin issuer Tether is expanding its tokenization business into Saudi Arabia. The company will initially focus on tokenizing institutional real estate assets in the kingdom. Tether has indicated plans to broaden its scope to other asset classes beyond real estate over time. The move marks a significant step in Tether's strategy to grow its tokenization operations in the Middle East.

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Crypto & Web3CoinDesk ·

JPMorgan: Hyperliquid ETF inflows lose steam amid rising competition

Hyperliquid crypto ETFs saw strong investor demand during May and June, leading inflows among crypto funds in that period. However, according to JPMorgan, that momentum faded significantly in July and August. The bank attributed the slowdown to intensifying competition in the crypto ETF space. The development signals a shift in investor appetite away from Hyperliquid-focused products as more alternatives emerge.

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Crypto & Web3CoinDesk ·

Blockchain Association Pushes Back on WSJ Editorial Board's Crypto Bill Critique

The Blockchain Association's Summer Mersinger has publicly challenged the Wall Street Journal's editorial board over its stance on crypto legislation. Mersinger argues the board mischaracterizes the Clarity bill, which she describes as pro-innovation, pro-competition, and pro-consumer. The WSJ editorial board reportedly opposes the bill, a position Mersinger contends contradicts free-market principles. The Clarity bill is framed by its supporters as a measure designed to foster healthy competition and protect consumers in the crypto space.

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Crypto & Web3CoinDesk ·

SanDisk and Western Digital Shares Drop 10% Despite Strong Earnings

Shares of SanDisk and Western Digital fell roughly 10% even after the companies reported strong quarterly earnings, disappointing investors who had expected more. The sell-off has prompted analysts to question whether capital may be shifting away from artificial intelligence-related stocks. Some observers suggest this rotation could benefit alternative assets, including bitcoin and the broader crypto market. The development highlights growing uncertainty around AI sector valuations and where investors may deploy funds next.

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