Crypto Industry News & Market Trends

KOSPI Falls Over 4% as Trading Resumes After Holiday, Deepening Bear Market

South Korea‘s KOSPI index reopened lower on July 20, its first session since Friday’s Constitution Day holiday. The index slid as low as 6,498 points before paring some losses.　　The drop pushed the index more than 25% below its June peak, meeting the threshold for a technical bear market. Chip-sector jitters compounded with an escalating US-Iran conflict to drive the slide.　　Chip Stocks Swing Hard on Reopening　　Samsung Electronics and SK Hynix stock both opened down more than 5% before foreign investors moved in. The Philadelphia Semiconductor Index shed 4.3% while Korean markets stayed shut for the holiday last Friday. Rising competition from Chinese AI models added further pressure on the memory chip trade.　　After not trading last Friday, the Kospi returned today, dropping sharply from its last close. Image Source: Trading View　　Foreign investors net bought 278.4 billion won ($187.1 million) in early trading, concentrated in electronics stocks. Retail investors net sold 300.8 billion won over the same window. Han Ji-young, a researcher at Kiwoom Securities, said the decline reflects how far leading stocks have fallen.　　“Since July, the KOSPI has dropped by about 25% from its peak, entering a technical bear market. A sharp decline of 30–40% in leading stocks such as Samsung Electronics,

07-20Industry

Why is Silver gaining despite rising Fed rate hike bets？

Silver price (XAG/USD) gains ground for the second successive day, trading around $56.80 per troy ounce during the Asian hours on Monday. However, the non-interest-bearing white metal could face tough sledding ahead as United States (US)-Iran clashes drive oil prices higher, and resurfacing inflation risks are fueling expectations for Fed rate hikes.　　The US has launched its ninth consecutive night of strikes against Iranian targets. In response, Iranian officials declared that the ceasefire between the two nations has been effectively abandoned, opening the door for deepening disruptions to crucial energy pathways through the regions narrow waterways.　　The conflict has rapidly intensified across the region, triggering air raid sirens in Bahrain after Iran launched a fresh wave of ballistic missiles and one-way attack drones targeting sites across Bahrain, Jordan, Kuwait, and Iraq. Meanwhile, the US military reported the death of a third service member within the span of two days amid the ongoing exchanges.　　The violence has also expanded beyond strictly military targets to hit critical infrastructure, with bridges, utilities, and port facilities coming under fire. Over the weekend, Kuwait Petroleum Corp. confirmed that an Iranian strike struck one of its oil facilities on Saturday.　　While the central bank is widely expected to hold interest

07-20Industry

Record U.S. Margin Debt and Bitcoin Risks

U.S. margin debt hit a record $1.42T, raising leverage concerns as investors assess potential risks for Bitcoin and crypto markets.　　Record levels of U.S. margin debt have renewed attention on market leverage as investors monitor Bitcoin and the broader crypto market.　　Fresh data shows borrowing against stock portfolios climbed to new highs in May, while investor cash buffers continued to shrink.　　The trend has sparked discussion across financial and crypto communities about potential risks if markets reverse.　　U.S. Margin Debt Hits New High as Investor Leverage Climbs　　FINRA data shows U.S. margin debt reached $1.42 trillion in May 2026. That marked a 53.7% increase from the same month last year.　　It also represented one of the fastest yearly increases on record. The latest figures place margin debt at roughly 4.44% of U.S. GDP.　　Some market researchers view that as the highest reading in the historical dataset. Others dispute that comparison, arguing GDP is not the right benchmark for measuring borrowed investment capital.　　The debate has created two competing views of the same data. One group sees the record as evidence of elevated market leverage.　　Another argues adjusted measures paint a less extreme picture than previous market peaks. Bitcoin News highlighted the discussion in a post on X.　　MARGIN DEBT HITS

07-20Industry

Allbridge Core Pauses Protocol After Attacker Drains More Than $1 Million

Allbridge Core paused its protocol after an attacker exploited its stablecoin liquidity pools, with blockchain tracker Onchain Lens estimating losses exceeding $1 million. 　　The incident adds to a growing number of attacks targeting crypto protocols, with exploits resulting in $57.8 million in losses in July 2026.　　How the Allbridge Exploit Unfolded　　Onchain Lens reported that Allbridge Core suffered an exploit on Solana, resulting in losses of more than $1.1 million.　　According to the firm, the attacker used a $1.12 million USDC flash loan from Kamino to manipulate the protocol‘s USDC/USDT stablecoin pool through a series of rapid swaps, distorting the pool’s ratios before withdrawing liquidity at inflated values.　　The attacker repaid the flash loan within the same transaction. That move extracted roughly $1.1 million.　　Onchain Lens added that the stolen funds were later routed through privacy protocols to obscure their movement. The post also identified the largest single withdrawal at $2.24 million USDC.　　Follow us on X to get the latest news as it happens　　Allbridge Seeks Recovery of Funds After Exploit　　Allbridge paused the protocol as a precaution and opened an investigation. It said the imbalance briefly opened an arbitrage window for some traders. Allbridge asked traders who profited from the imbalance to return funds.　　The team said

07-20Industry

Bitcoin Covered-Call Strategy Could Deliver 22% Yield in Range-Bound Market

Bitcoin News　　Bitcoin (BTC) investors weathering a sideways market may be able to harvest an annualized yield above 22% by selling covered calls against their spot holdings, according to fresh research from asset manager Grayscale. Research head Zach Pandl, writing on 15 July 2026, argued that if Bitcoin has already found a durable bottom but drifts before its next leg higher, option premium income can generate returns while cushioning downside. Grayscale modelled a $65,000 spot price and 40% implied volatility through end-2026, producing roughly 22% annualized, a breakeven near $58,500, and outperformance versus spot up to about $72,500. Its BTCC covered-call ETF last traded at $13.04. See our Bitcoin hub for context.　　Spot Bitcoin traded in a tight band near $64,564 on Monday, slipping about 0.35% over 24 hours as the market awaited a directional catalyst. The Fear the measure is symbolic and cannot block a presidential decision. Separately, the FTX Recovery Trust said it would distribute roughly $900 million to creditors in its fifth repayment round, bringing total payouts to about $10 billion since the 2022 collapse. Tokenized-stock market capitalization climbed to a record $2.3 billion as investors sought blockchain-based equity exposure, underscoring steady structural growth even amid a cautious bear

07-20Industry

Circle president backs USDC as new rival pressures CRCL stock

Circle President Heath Tarbert has defended the companys long-term strategy after Circle shares fell sharply from their post-IPO peak.　　SummaryCircle says USDCs scale and network effects remain difficult for new stablecoin competitors to replicate.Open USD adds pressure as Circle shares trade far below their post-IPO peak near $260.Circle keeps expanding regulated infrastructure while investors question competition, margins, and future stablecoin revenue sharing.　　Speaking in a July 14 interview with FOX Business, Tarbert said management remains focused on building financial infrastructure rather than reacting to short-term moves in the stock.　　The interview came as Circle faced growing investor concern over competition in the stablecoin market. CRCL had traded near $260 after its public debut before falling toward the low $60 range. Tarbert said Circle is “playing the long game” and argued that successful execution would eventually support shareholder value.　　You might also like:　　South Korea targets Dunamu over Upbit hack as legal gaps emerge　　Tarbert points to USDC network effects　　Tarbert said Circle‘s main focus remains building a full-stack internet financial platform around USDC and related infrastructure. He argued that the company’s position cannot be measured only through daily stock movements and said the stock should “take care of itself” if Circle delivers on its wider mission.　　He also

07-19Industry

Polymarket traders cut Clarity Act passage odds to record low as Senate delay drags on

The lack of an ethics provision remains one of the biggest sticking points. Sen. Ruben Gallego (D-Ariz.), one of two Democrats who voted to advance the bill out of the Senate Banking Committee, has repeatedly said he will not support the legislation on the Senate floor without a bipartisan ethics provision. Other Democrats have raised similar concerns over conflicts of interest involving public officials and digital assets.　　As of Friday, there had been no public readout from Thursdays White House meeting, and no bipartisan ethics language had emerged, leaving one of the bills largest obstacles unresolved.　　If passed, the Clarity Act would establish a federal framework for digital asset markets by drawing a clearer line between assets regulated by the Securities and Exchange Commission (SEC) and those overseen by the Commodity Futures Trading Commission (CFTC). Supporters argue the measure would replace years of regulation through enforcement with rules written by Congress.　　Industry executives reiterated that message during a House hearing Friday marking one year since the chamber passed the legislation.　　“The community has already done the hard work,” Nova Labs executive Sarah Aberg told lawmakers, arguing that regulatory uncertainty delayed investment in the Helium wireless network after the SEC sued the company in a

07-18Industry

Crypto Biz: When dollars disappear, stablecoins step in

Stablecoins have long been pitched as a faster way to move dollars across borders. In Bolivia, they‘re increasingly becoming a way to access dollars in the first place. The country’s recent proposal to recognize Tethers USDt (USDT) for payments underscores how economic instability is driving adoption in many emerging markets.　　Elsewhere, Bitcoin miners are discovering that pivoting to AI infrastructure may unlock new revenue streams, but it doesnt shield them from investor scrutiny.　　Bolivia weighs recognizing USDT amid dollar shortage　　Bolivia is considering a regulatory framework that would recognize Tether‘s USDT as a payment currency, marking another step in the country’s push to integrate digital assets into its financial system.　　Economy and Public Finance Minister Jose Gabriel Espinoza said the proposal would allow USDT to circulate alongside the boliviano and the US dollar for payments and savings. The framework remains under review and would include anti-money laundering safeguards, as Bolivia is still on the Financial Action Task Force‘s gray list. The initiative follows the lifting of the country’s crypto ban in 2024 and the new administrations pledge to expand access to digital asset services.　　The proposal comes as Bolivia struggles with a prolonged shortage of US dollars after pressure on foreign exchange reserves forced the

07-18Industry

Galaxy lands 15-year Texas Tech stadium naming rights deal

Digital asset and AI infrastructure company Galaxy Digital has signed a 15-year naming rights agreement with Texas Tech, renaming the universitys football stadium Galaxy Stadium beginning with the 2026 season.　　The partnership also makes Galaxy the official data center and digital assets partner of Texas Tech Athletics, with the companies planning to collaborate on student-athlete name, image and likeness opportunities, artificial intelligence initiatives and workforce development programs.　　According to Fridays announcement, the stadium will debut under its new name on Sept. 5, when Texas Tech opens its season against Abilene Christian. Financial terms of the agreement were not disclosed.　　The deal expands Galaxys footprint in West Texas, where it operates the Helios data center campus in nearby Dickens County, about 60 miles east of Lubbock. The site has 1.6 gigawatts of approved capacity for artificial intelligence and high-performance computing (HPC).　　Related: Bitdeer stock jumps 14% as company expands US mining hardware production　　Texas strengthens its crypto industry footprint　　The partnership comes as Texas strengthens its position as a hub for the crypto industry, combining major Bitcoin mining investment with growing political influence and pro-crypto legislation.　　The state is already home to some of the industrys largest Bitcoin (BTC) miners and digital infrastructure operators, including Riot Platforms, Cipher

07-18Industry

Bank of America taps new leaders to bridge crypto, AI and traditional finance

Quick TakeSonali Theisens focus spans stablecoins, tokenized deposits, custody and crypto trade settlement.Kevin Milsom will lead wider AI implementation across the banks global markets platforms.　　Bank of America has appointed new leaders to spearhead the firms digital assets and artificial intelligence strategies, following a trend of traditional financial institutions building specialized teams around the technologies.　　Sonali Theisen was named head of BofAs global digital assets platform, while Kevin Milsom was tapped to serve as head of AI transformation, according to internal memos first reported by Reuters and Bloomberg.　　Theisen will “oversee design, development, scaling and governance of the bank‘s digital-assets platform” on top of her current role leading electronic trading and strategic investments across the bank’s fixed income, currencies and commodities division.　　Her responsibilities will focus on bringing blockchain-based products into BofAs existing markets infrastructure, working alongside digital asset transformation chief Adam Dixon, who oversees “tokenized deposits and stablecoins, digital collateral mobility, cryptocurrency trading settlement and custody.”　　Milsom, meanwhile, is tasked with implementing AI across the banks global markets platforms.　　This follows similar efforts seen across many other Wall Street-native banks and institutions.　　Earlier this month, Vanguard began searching for its first head of digital assets to develop a crypto strategy for personal wealth clients and engage

07-18Industry

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