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Crypto & Web3CoinDesk ·

XRP Climbs 2% After Breaking Through $1.10 Resistance Level

XRP rose approximately 2% following a surge in trading volume during the latter part of a recent session. The price movement pushed the cryptocurrency above its established trading range. Traders are now closely monitoring whether the $1.10 level, previously a resistance point, can hold as a new support level. The development signals renewed buying interest in XRP, though market participants remain cautious about sustainability.

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Crypto & Web3CoinDesk ·

Bitcoin gains in USD but lags in JPY as Japanese Yen strengthens

Bitcoin and other major cryptocurrencies are showing a notable performance gap depending on the currency used to measure them. While crypto assets appear strong when priced in US dollars, they are underperforming when valued in Japanese yen. This divergence has been driven by a sharp appreciation of the yen in recent trading. The yen's rise is largely attributed to fears of intervention by Japanese monetary authorities. As a result, traders are witnessing split signals across dollar-based and yen-based crypto markets.

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Crypto & Web3CoinDesk ·

Bitcoin climbs near $64,000 amid chip rally and yen strength

Bitcoin has risen approximately 4.2% over the past seven days, approaching the $64,000 mark. The gains came despite a turbulent week that included an oil price shock and a significant bond market selloff. A rally in chip stocks and a strengthening Japanese yen were cited as key drivers behind the cryptocurrency's upward movement. The price increase also occurred against the backdrop of two separate rounds of U.S. military strikes on Iran.

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Crypto & Web3CoinDesk ·

New Hampshire Executive Council Rejects State Bitcoin Bond Plan 3-2

New Hampshire's pioneering effort to issue a state government bitcoin bond has been shut down after failing to secure final approval. The state's executive council voted 3-2 to reject the proposal, ending the initiative at its last required stage of government review. The plan had been notable for its trailblazing nature, as it would have made New Hampshire one of the first states to pursue such a crypto-linked financial instrument. The narrow vote indicates there was some support for the idea, though opponents held the majority needed to block it.

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Crypto & Web3CoinDesk ·

Grayscale CFO Edward McGee Departs After Seven Years at Firm

Edward McGee has stepped down as Chief Financial Officer of Grayscale, the prominent crypto asset manager. He served in the role for seven years before his departure. His exit follows that of John Hoffman, the firm's distribution chief, who recently left to join blockchain firm Ondo Finance. The two high-profile departures occurred within weeks of each other, marking a notable period of leadership change at Grayscale.

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Crypto & Web3CoinDesk ·

Coinbase CLO Paul Grewal Exits After SEC Legal Battle Concludes

Coinbase Chief Legal Officer Paul Grewal announced his departure from the cryptocurrency exchange on Thursday. Grewal, who played a central role in Coinbase's legal battle against the U.S. Securities and Exchange Commission, will transition to an advisory role following his exit. His departure comes after the conclusion of the high-profile regulatory fight between Coinbase and the SEC. Along with Grewal's move, other members of the legal team are also being reassigned within the company.

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Crypto & Web3CoinDesk ·

Arbitrum token surges 19% as Robinhood's new blockchain drives $568M in trading

Arbitrum's native token jumped 19% following a surge in on-chain trading activity linked to Robinhood's newly launched blockchain. The brokerage's chain recorded approximately $568 million in trading volume, driven largely by memecoin activity. Revenue generated from this trading has been flowing back into the broader Arbitrum ecosystem, boosting its metrics. Robinhood's blockchain is built on Arbitrum's technology, meaning increased usage directly benefits the network. The strong early performance signals a fast start for Robinhood's foray into on-chain trading infrastructure.

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Crypto & Web3CoinDesk ·

New Crypto Clarity Act Draft Expected Next Week Amid Push for July Vote

A revised draft of the crypto market structure bill known as the Clarity Act could be released as early as next week, according to sources familiar with the matter. The development marks a renewed push for legislative action after a prolonged period without significant progress on the bill. Lawmakers are reportedly targeting a late-July timeline to advance the legislation. However, the draft still lacks bipartisan support, raising questions about its prospects for passage.

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Crypto & Web3CoinDesk ·

Private credit funds see $15.6B in Q2 redemptions, outpacing Bitcoin ETF outflows

Redemption requests in the private credit market surged to $15.6 billion in the second quarter of the year. This figure significantly exceeded outflows recorded from bitcoin exchange-traded funds during the same period. The private credit market is currently valued at approximately $2 trillion. Analysts suggest these simultaneous capital withdrawals from both asset classes may signal growing caution among investors about broader market risks.

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Crypto & Web3CoinDesk ·

AI Contracts Overtake Bitcoin in Driving Crypto Miner Valuations

Compass Point analysts Michael Donovan and Ed Engel argue that AI data center contracts, rather than Bitcoin mining, are now the primary driver of valuations for crypto miners. The analysts note that markets are currently undervaluing companies with significant AI infrastructure pipelines. Despite billions of dollars in signed leases, these future revenue streams are receiving little credit from investors. Cipher Mining and TeraWulf were specifically identified as appearing undervalued given their AI data center prospects.

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Crypto & Web3CoinDesk ·

New Nonprofit Ethereum Institutional Aims to Educate Banks on Ethereum

A new nonprofit called Ethereum Institutional has been launched with a focus on educating financial institutions and banks about Ethereum. The organization positions itself as a guide for Wall Street and traditional finance as they navigate the cryptocurrency space. Its formation reflects growing interest from institutional players seeking credible, structured information about blockchain technology. The initiative was highlighted in CoinDesk's The Protocol Newsletter this week.

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Crypto & Web3CoinDesk ·

Aave Launches Stable Vaults to Offer Stablecoin Yields for Fintech Apps

Aave has introduced a new product called Stable Vaults, designed to help fintech platforms generate returns on stablecoin deposits. The offering targets wallets, cryptocurrency exchanges, and payment applications that want to provide yield-bearing features to their users. By integrating Stable Vaults, these platforms can offer customers earnings on their stablecoin holdings without building the underlying infrastructure themselves. The move positions Aave as a backend yield provider for the broader fintech ecosystem.

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Crypto & Web3CoinDesk ·

Age Verification Mandates Persist in KOSA and Chat Control Despite Rollbacks

Two major online safety proposals, KOSA and Chat Control, scaled back their most controversial provisions this week but retained mandatory age verification requirements. Billions CEO Evin McMullen argues that age verification effectively ends anonymous browsing by requiring users to identify themselves online. Critics contend this quiet mechanism amounts to a form of surveillance that was never explicitly approved by the public. McMullen's concern is that such requirements create infrastructure that converts anonymous internet use into identified browsing for all users, not just minors.

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Crypto & Web3CoinDesk ·

Over $7.2B Migrates from LayerZero to Chainlink CCIP as Mantle Joins

More than $7.2 billion in assets have migrated from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP), marking a significant shift in blockchain bridging infrastructure. Mantle is the latest platform to join the exodus, adding to a growing list of high-profile departures. Notable migrators include Kelp and Lombard, each transferring over $1 billion in assets to the new protocol. Other projects making the switch include Solv Protocol, Virtuals, Re, and Kraken's tokenized assets. The wave of migrations signals increasing industry confidence in Chainlink CCIP as a preferred cross-chain solution.

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Crypto & Web3CoinDesk ·

Swift Launches Blockchain Payment Platform With 17 Major Banks in Pilot

Swift has unveiled a new blockchain-based payments platform aimed at enabling round-the-clock banking transactions. Seventeen major global banks, including HSBC, UBS, Wells Fargo, and Citi, are participating in the initiative. The banks are preparing to pilot live transactions using tokenized digital assets on the platform. The move marks a significant step toward modernizing interbank settlements through distributed ledger technology.

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Crypto & Web3CoinDesk ·

Latin America's Largest Stock Exchange Launches Crypto Options on BTC, ETH, SOL

Latin America's largest stock exchange has begun offering options contracts tied to bitcoin, ether, and solana futures. The products are derivatives that settle into underlying futures contracts rather than directly into the cryptocurrencies themselves. This structure means the exchange does not handle custody, transfer, or administration of any digital tokens. The move marks a significant step in bringing regulated crypto exposure to Latin American institutional and retail investors.

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Crypto & Web3CoinDesk ·

Crypto ETFs Record Heavy Outflows in Q2 2026

Digital asset ETFs experienced record outflows during the second quarter of 2026, according to a review published by CoinDesk. The report was framed as a resource for financial advisors navigating the crypto market. Significant capital withdrawals from crypto ETFs marked a notable shift in investor sentiment during the period. The outflow figures highlight growing caution among institutional and retail investors toward digital asset products.

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Crypto & Web3CoinDesk ·

Temasek Drops Crypto, Plans to Triple AI Portfolio Share to 15% by 2031

Singapore's state-owned investment fund Temasek has ruled out cryptocurrency investments, shifting its focus entirely toward artificial intelligence. The $400 billion wealth fund currently allocates around 6% of its portfolio to AI-related holdings. Temasek aims to more than double that share to 15% by 2031. The strategic pivot reflects the fund's confidence in AI as a long-term growth sector over digital assets.

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