Live Feed

U.S. Senate Democratic Leader Chuck Schumer has proposed two candidates each for seats at the SEC and the CFTC to the White House as part of negotiations over crypto legislation, Semafor reporter Eleanor Mueller said. The proposal follows months of finger-pointing during the bill talks over responsibility for vacancies at the two agencies. The identities of the candidates have not been disclosed, and one person familiar with the matter said the move was intended to avoid attacks before the candidates receive a fair vetting process.

The HYPE spot ETF is attracting funds faster in its early stage than BTC, ETH, SOL and XRP ETFs did over the same period, based on cumulative inflows relative to market capitalization, according to a Grayscale analysis. Grayscale said BTC ETFs have shown the steadiest inflow trend, while ETH ETFs saw a mid-period surge. SOL and XRP ETFs also posted solid early inflows. Compared over the same time frame, however, the HYPE ETF has had the strongest start, Grayscale said.

BitMEX co-founder Arthur Hayes withdrew 3,298 ETH worth $6.32 million from FalconX and Galaxy Digital, EmberCN reported. Since July 15, Hayes has bought a total of 7,212.6 ETH worth $13.82 million at an average price of $1,916.

A futures product tracking SK Hynix shares on decentralized perpetual futures exchange Hyperliquid (HYPE) briefly fell to $927, about 1.36 million won at current exchange rates, at 12:00 a.m. UTC today. The sharp but temporary drop is believed to have been triggered by a cascade of liquidations in leveraged long positions. Two minutes after the plunge, the product’s price had regained its link to SK Hynix shares. Meanwhile, the KOSPI posted a sharp decline on July 28, triggering a sell-side curb. SK Hynix was trading at 1,622,000 won, down 10.68% from yesterday.

Bitmine (NYSE: BMNR), a U.S.-listed company pursuing a strategic accumulation of Ethereum, withdrew 7,500 ETH worth about $14.61 million from BitGo around four hours ago, according to an analysis by on-chain analyst EmberCN. EmberCN added Bitmine appears to be continuing its ETH accumulation after last week. Exchange withdrawals are typically interpreted as accumulation activity. Earlier, Bitmine said it had added 9,946 ETH over the past week.

As the KOSPI plunged, the Korea Exchange triggered a sell-side sidecar.

Spot CVD is an order-book analysis chart for the BTC/USDT spot trading pair. The upper section shows the Volume Heatmap, while the lower section represents cumulative volume delta, or CVD. - The upper volume heatmap tracks trading volume at each price level, and the background becomes brighter when the price stays in a specific range for an extended period or moves sharply. Areas closer to brighter colors may act as support or resistance. - The lower cumulative volume delta indicator reflects buy and sell orders by fund size, and the line in each color rises as buy orders increase. The yellow line represents orders worth $100 to $1,000, while the brown line represents large orders worth $1 million to $10 million.

CoinMarketCap’s in-house Crypto Fear and Greed Index came in at 35, down three points from yesterday, indicating that fear remained in place. The index signals extreme fear as it approaches zero and extreme optimism as it nears 100. According to CoinMarketCap, the gauge is calculated based on price moves among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market indicators such as the put/call ratio, the stablecoin supply ratio, or SSR, and CoinMarketCap’s own search data.

A U.S. federal court has granted a preliminary injunction sought by prediction market platforms including Polymarket and Kalshi, suspending enforcement of Minnesota’s ban on prediction markets, Unfolded reported. The court said betting activity treated as prediction markets and swaps falls under the jurisdiction of the Commodity Futures Trading Commission (CFTC).

BlackRock has sent a letter backing the CLARITY Act to U.S. political news outlet Politico, according to Politico. In the letter to Politico Morning Money, BlackRock Chief Investment Officer Samara Cohen said the CLARITY Act could be an important step toward establishing a regulatory framework for cryptocurrencies. Fidelity, Charles Schwab and Franklin Templeton, along with Goldman Sachs CEO, had previously also expressed support for the bill. The CLARITY Act is expected to face a vote in the full U.S. Senate in August. While Republicans, who are pushing the bill, hold a 53-47 majority, it needs 60 votes to pass, meaning Democratic support is required.

Major exchanges have seen $223 million worth of futures liquidated in the past hour. In the past 24 hours, $610 million worth of futures have been liquidated.

A bipartisan bill has been introduced in Pennsylvania to bar sports betting companies from acting as liquidity providers or market makers in prediction markets, Bitcoin.com reported. HB2711, introduced by Pennsylvania state Rep. Tarik Khan, would prohibit companies engaged in gambling operations and their affiliates from providing liquidity to prediction platforms or sharing in related profits. The bill also includes consumer protection measures such as a ban on insider trading and age restrictions for users, and it is expected to help establish a regulatory framework for prediction markets in the state alongside HB2497, a separate bill centered on licensing and a 22% tax.

Major exchanges have seen $116 million worth of futures liquidated in the past hour. In the past 24 hours, $505 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $64,000. BTC is trading at $63,998.01 on the Binance USDT market.

Global asset manager Franklin Templeton said in an official post on X it supports passage of the CLARITY Act. Franklin Templeton added, "CLARITY will clarify how cryptocurrencies are regulated. Investors will know what protections apply, and companies will know which regulators oversee cryptocurrencies. It is now time to provide the clarity the crypto industry needs."

Apple users filed a lawsuit in a California district court, alleging Apple failed to effectively block fraudulent crypto apps on the App Store. According to TechCrunch, the plaintiffs claimed gaps in Apple’s app review and security screening systems led them to download a fake cryptocurrency wallet app and suffer combined losses of about $1.8 million. The app allegedly impersonated Sparrow Wallet, while the real Sparrow Wallet is known not to offer an iOS app. Apple said impersonation apps violate its policies and are removed as soon as they are discovered, adding that the fake app in question is no longer available.

The three major U.S. stock indices closed mixed today. - S&P 500: +0.02% - Nasdaq: -0.18% - Dow Jones: +0.51%

The tokenized asset market has grown to $7.5 billion, up more than threefold over the past year, according to CryptoRank data.

New York Attorney General Letitia James urged Congress to strengthen the Clarity Act, saying the bill could weaken state governments’ authority to crack down on financial crime and other illegal activity, The Block reported. James stressed the need for stronger safeguards, including tighter rules for cryptocurrencies that pass through money-laundering mixers and stricter standards for elected officials.

Securitize Capital, a subsidiary of tokenization platform Securitize, has registered as a registered investment adviser with the U.S. SEC, Cointelegraph reported. The move allows Securitize to provide investment advisory services to asset managers and institutional investors, expanding its business within the regulatory fold. Securitize said this gives it an integrated regulated platform spanning tokenized securities issuance and management, brokerage, trading infrastructure and investment advisory services.

Crypto perpetual futures, a flagship derivatives product in the digital-asset market, have entered the regulated U.S. market, drawing rising interest on Wall Street, though major banks are still staying on the sidelines until market liquidity and the regulatory environment are more fully developed, CoinDesk reported. CoinDesk said the U.S. Commodity Futures Trading Commission approved Kalshi’s regulated perpetual futures product in May, while Coinbase also won approval to list regulated perpetual futures in the United States. Kalshi topped $1 billion in trading volume within a week of launching the product in June and has since moved to broaden its lineup by seeking approval for perpetual futures tied to gold and silver. Even so, Wall Street remains cautious about making a full-scale entry into the market. Industry participants said improvements in the U.S. regulatory environment are drawing the offshore-dominated perpetual futures market into the United States, but most large financial institutions are still in a wait-and-see phase rather than preparing product launches. They added major banks also have to consider strict capital rules, customer-protection obligations and reputational risk, making it difficult for them to participate aggressively before trading volume is sufficient, the regulatory framework is clear and market infrastructure is stable.

BlackRock transferred 3,310 BTC ($215.93 million) and 28,370 ETH ($55.68 million) to Coinbase Prime, for a total of about $271 million, according to Onchain Lens. Onchain Lens added its analysis pointed to the transfers as likely being intended for a sale.

Spot CVD is an order-book analysis chart for the BTC/USDT spot trading pair. The upper section shows the Volume Heatmap, while the lower section shows cumulative volume delta, or CVD. - The volume heatmap tracks trading volume at each price level. The background color becomes brighter when the price remains in a specific range for an extended period or makes a large move. Brighter areas may act as support or resistance. - The cumulative volume delta indicator shows buy and sell orders by order size. As buy orders increase, the line in the corresponding color rises. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

Payward, the parent company of cryptocurrency exchange Kraken, is acquiring Magic Labs’ Wallet-as-a-Service business, Cointelegraph reported. The deal value was not disclosed. The companies said they expect to complete the transaction within weeks, subject to customary procedures. Through the acquisition, Payward plans to integrate Magic Labs’ non-custodial wallet technology into Payward Services, its business platform. The platform provides enterprise services including cryptocurrency trading, custody, tokenized assets and fiat on- and off-ramps.

Crypto trading platform Uphold announced it cut 17% of its workforce. The restructuring was part of a strategy to focus more on enterprise services as a recent market downturn has weighed on retail crypto trading activity, CoinDesk reported. The layoffs affected 85 full-time and contract workers.