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Crypto & Web3CoinDesk ·

Bitcoin retains July gains despite bad news wave, but traders stay cautious

Bitcoin has managed to hold onto its gains through July despite facing a series of negative developments in the crypto market. Analysts attribute the resilience to forced selling having already been exhausted in prior market downturns. However, traders are not fully at ease, maintaining a cautious stance heading into the coming period. Upcoming concerns include fears over potential interest rate hikes and closely watched employment data that could influence market direction.

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Crypto & Web3CoinDesk ·

Tether Reports $1.5B Operating Profit in Q2 Despite Shrinking Reserve Buffer

Tether, the world's largest stablecoin issuer, recorded an operating profit of $1.5 billion in the second quarter. However, the company's reserve buffer fell by approximately half during the same period. To strengthen its holdings, Tether added 14 metric tons of gold to its reserves in Q2. The firm also acquired around 1,800 bitcoin as part of its reserve diversification strategy.

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Crypto & Web3CoinDesk ·

Crypto Traders Weigh Pros and Cons of Perpetual Futures Contracts

Perpetual futures contracts, or perps, remain a popular but debated instrument among cryptocurrency traders. Both retail and institutional participants have raised concerns about funding rates, which are periodic payments exchanged between long and short position holders. Funding rates can significantly affect the profitability of holding perpetual positions over time. Traders acknowledge the flexibility perps offer while remaining cautious about the costs associated with sustained positions.

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Crypto & Web3CoinDesk ·

Coldcard Wallet Bug Leads to $38M Bitcoin Theft, Raises Self-Custody Concerns

A software vulnerability in the widely used Coldcard hardware wallet has resulted in the theft of nearly 600 bitcoin, valued at approximately $38 million. The exploit has raised serious questions about the security of self-custody solutions for everyday cryptocurrency investors. Critics are now debating whether managing private keys independently has become too complex and risky for the average user. The incident is reportedly pushing some investors to consider regulated alternatives such as Bitcoin ETFs instead.

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Crypto & Web3CoinDesk ·

IBM CEO Predicts Quantum Computing Will Turn Profitable Before 2030

IBM CEO Arvind Krishna has stated that quantum computing is on track to produce significant commercial revenue within this decade. He made the remarks during an interview on CNBC, signaling growing confidence in the technology's near-term viability. Krishna's comments come as investment in the quantum computing sector continues to accelerate. The statement marks a notable milestone in industry expectations for a technology long seen as promising but commercially distant.

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Crypto & Web3CoinDesk ·

Three Key Hurdles Stand Between Crypto and Its Next Bull Run

STS Digital CEO Maxime Seiler has identified three major obstacles currently holding back a crypto bull run. Institutional options selling is creating downward pressure on bitcoin's price. The growing influence of artificial intelligence is also cited as a complicating factor for the market. Additionally, the prolonged delay in clear U.S. cryptocurrency regulation continues to weigh on investor sentiment and market momentum.

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Crypto & Web3CoinDesk ·

Circle Wins New York Trust Charter, Expanding Its Regulated Crypto Services

Circle, the company behind the USDC stablecoin, has secured a trust charter from New York state regulators. The approval grants Circle the authority to offer fiduciary and custody services under New York banking law. This milestone positions Circle as a more formally regulated entity within the United States financial system. The development comes amid a broader push by crypto firms to obtain clearer regulatory standing in the country.

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Crypto & Web3CoinDesk ·

Coinbase Earnings Miss Splits Analyst Views on Crypto Market Recovery

Coinbase reported a weaker-than-expected quarterly performance, falling short of Wall Street expectations. Analysts broadly attributed the disappointing results to subdued activity across the broader cryptocurrency market. However, opinions among analysts remain divided on when trading volumes and market conditions are likely to rebound. The earnings miss has prompted differing outlooks on the timeline for Coinbase's financial recovery.

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Crypto & Web3CoinDesk ·

RWA Perpetuals Set to Surpass Tokenization as Crypto's Next TradFi Export

Perpetual contracts tied to real-world assets (RWAs) are poised to become crypto's next major contribution to traditional finance, according to a DWF Labs analyst. Martin Lee, markets insight lead at DWF Labs, made the prediction in a commentary published by CoinDesk. He argues that while tokenization was crypto's first significant crossover into TradFi, RWA perps represent the next frontier. The shift signals growing institutional appetite for crypto-native financial instruments applied to traditional asset classes.

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Crypto & Web3CoinDesk ·

Dubai Crypto Exchange Shelbit Linked to $4B Iran Sanctions-Evasion Network

A Dubai-based cryptocurrency exchange called Shelbit has been allegedly tied to a $4 billion network used to evade Iran-related sanctions. The exchange is accused of acting as a financial bridge between illegal gambling sites and sanctioned Iranian entities, connecting them to global crypto markets. Shelbit reportedly funneled hundreds of millions of dollars to major cryptocurrency exchanges, including Binance. The allegations highlight ongoing concerns about the use of digital assets to circumvent international financial restrictions imposed on Iran.

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Crypto & Web3CoinDesk ·

Prediction markets hit $20B in volume during World Cup betting surge

Prediction markets reached a record $20 billion in total trading volume during the World Cup, marking a major milestone for the sector. Bettors placed wagers on a wide range of outcomes, from tournament winners to personal moments involving individual players. One notable market asked whether Cristiano Ronaldo would cry upon Portugal's elimination — a bet that ultimately paid out. The scale of activity signals growing mainstream participation in crypto-based prediction platforms.

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Crypto & Web3CoinDesk ·

US Treasury Sanctions Iran-Linked Crypto Insurance Platform Tied to IRGC

The US Treasury Department has sanctioned Hormuz Safe, a maritime insurance platform allegedly linked to Iran's Islamic Revolutionary Guard Corps (IRGC). The platform is accused of operating as a sanctions evasion scheme for ships navigating the Strait of Hormuz. Hormuz Safe reportedly accepted Bitcoin and other cryptocurrencies as payment, enabling it to sidestep traditional financial oversight. The sanctions reflect growing US concern over the use of digital assets to circumvent restrictions targeting Iranian-backed entities.

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Crypto & Web3CoinDesk ·

Bitcoin and Ether Slip at Month-End as Crypto Eyes Best Monthly Gain in a Year

Bitcoin and Ether declined as July came to a close, bucking a broader positive trend in global equity markets. Asian stocks and U.S. index futures both moved higher during the same period. Despite the late dip in leading cryptocurrencies, the wider crypto market remained on course for a strong monthly performance. The CoinDesk 20 index was tracking toward its largest monthly gain since July 2025.

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Crypto & Web3CoinDesk ·

New York Sues Prediction Market Kalshi, Calls It Unlicensed Gambling Operation

New York state has filed a lawsuit against prediction market platform Kalshi, alleging it operates an illegal gambling business. Authorities argue that Kalshi's platform constitutes gambling in its plain form, conducted without the required state licensing. The lawsuit seeks to prevent the company from continuing its operations within New York. In addition to halting the business, the state is also pursuing financial penalties or redress against the firm.

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Crypto & Web3CoinDesk ·

Quantum Solutions, Hyperscale Data use crypto reserves to finance AI data centers

Quantum Solutions and Hyperscale Data are tapping into their cryptocurrency treasuries to fund the development of AI data centers. Quantum Solutions' board has raised its ETH sale cap to 4,375 ETH, with the expanded offering running through October 30. This figure represents nearly 66% of the company's ETH holdings as of June. However, 3,050 of the remaining ETH is currently pledged, limiting the freely available supply for the sale.

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Crypto & Web3CoinDesk ·

Bitcoin Volatility Hits 2025 Low as Traders Brace for Sharp Move

Bitcoin's daily price fluctuations have compressed to their tightest range since January 2025, signaling a period of unusual calm in the cryptocurrency market. Historically, such low-volatility phases in Bitcoin tend to precede significant price movements in either direction. The narrowing swings are making it increasingly difficult for traders to identify clear entry and exit points. Market analysts are closely watching current conditions as indicators that a major volatility breakout may be imminent.

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Crypto & Web3CoinDesk ·

Bank of Japan holds rates at 1%; Bitcoin steady near $64,000

The Bank of Japan kept its benchmark interest rate unchanged at 1% during its latest policy meeting. Governor Kazuo Ueda's hawkish remarks had limited market impact, as investors had already anticipated the decision following an earlier rate hike in October. The unchanged rate keeps the yen carry trade intact, where investors borrow cheaply in yen to fund higher-yielding assets. Bitcoin remained stable near $64,000 in the wake of the announcement, reflecting muted reaction across risk assets.

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Crypto & Web3CoinDesk ·

Bitcoin Holds Near $64,000 Despite South Korea's Historic Stock Market Rally

Bitcoin remained largely unchanged near $64,000 over the past 24 hours, showing little reaction to a major rally in South Korean equities. South Korea's Kospi index surged a record 17%, with chipmakers Samsung and SK Hynix each gaining more than 23%. Despite the broader market excitement, the cryptocurrency market failed to mirror the momentum. Most major cryptocurrencies remained in negative territory for the week, underscoring a disconnect between traditional equity markets and digital assets.

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Crypto & Web3CoinDesk ·

Hardware Wallet Randomness Bug Leads to $38M Bitcoin Theft

A critical flaw in a hardware bitcoin wallet has resulted in the theft of 594 BTC, worth approximately $38 million. The vulnerability stemmed from a bug in the wallet's random number generation, which weakened seed phrases that were supposed to be cryptographically secure. This made private keys that should have been practically unguessable vulnerable to being derived by attackers. The funds were drained in a swift 25-minute sweep, suggesting a coordinated and calculated exploit. The incident highlights serious security risks in wallet firmware and the consequences of flawed entropy generation.

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