Crypto Industry News & Market Trends

Bitcoin could bottom in October, altcoins are ‘basically dead,’ Swan CEO says

Bitcoin could bottom in October before recovering to around $130,000 ahead of the 2028 halving, according to Swan Bitcoin CEO Cory Klippsten.　　Bitcoins (BTC) price peaked above $126,000 in early October 2025, meaning that the “market should bottom in October,” Klippsten told Cointelegraph.　　He argued that Bitcoin has so far bottomed about 12 months after each previous bull market peak, while cautioning against extrapolating from only a few previous cycles.　　Klippstens prediction for an October bottom builds on a June interview with Cointelegraph, when he said Bitcoin may bottom earlier than in previous cycles as long-term holders accumulated a record share of supply, or 14.7 million BTC.　　In the latest interview, Klippsten said Bitcoin could fall to $57,000, or even $53,000, before a quick recovery, and could reach around $130,000 ahead of the 2028 halving.　　Other analytics providers are eyeing an earlier bottom. Markus Thielen, founder of 10x Research, said that Bitcoin could confirm a bear-market bottom in August with a monthly close above $63,000, which would turn several of the analytics firms cycle indicators bullish.　　Related: H100 becomes Europes No. 2 Bitcoin treasury after 2,455 BTC deal　　Altcoins are dead as money, crypto will become TradFi　　Klippsten said altcoins are “basically dead” as competitors to Bitcoin as

08-18Industry

Bitcoin hits $64K as gold gains while oil shakes off Trump Oman threat

Bitcoin (BTC) returned to $64,000 after Mondays Wall Street open as US stocks gave way to gold.　　Key points:Bitcoin continues a rebound from Sundays weekly close, gaining 2% on Monday.Oil stays steady after US president Donald Trump threatens to bomb Oman over the Strait of Hormuz.Bitcoin funding rates hit 20-month highs of 0.022 last week, data reveals.　　Bitcoin inches up as US-Iran rhetoric spreads to Oman　　Data from TradingView showed BTC/USD up by more than 2% on the day, rebounding from Sundays weekly close.BTC/USD one-hour chart. Source: Cointelegraph/TradingView　　US equities turned lower as an agreed 60-day ceasefire between the US and Iran was set to expire, with the S&P 500 index down 0.5% from Thursdays all-time highs.S&P 500 one-hour chart. Source: Cointelegraph/TradingView　　Speaking to Fox News, Trump threatened Oman with military action amid an ongoing dispute over the reopening of the Strait of Hormuz oil route.　　“If Oman gets in the way, well bomb the s*** out of them,” he told the network.　　Oil markets appeared unfazed by the tensions, with WTI crude flat at $82.35 per barrel at the time of writing.　　Safe haven gold was more volatile, gaining just over 1% to start the week to reach a daily high of $4,427 per ounce. Earlier, Cointelegraph

08-18Industry

CFTC seeks public input on AI compute futures contracts as CME eyes October launch

The US Commodity Futures Trading Commission (CFTC) is preparing to solicit public comment on futures contracts tied to computing capacity, a critical resource for artificial intelligence development, as major exchanges move to launch products tied to the emerging asset class.　　Bloomberg reported Monday that the regulator sent a request for comment to the White House Office of Management and Budget for review. The move could complicate the timeline for planned compute futures from CME Group and Intercontinental Exchange, whose products remain subject to regulatory approval.　　Once the White House review is complete, the CFTC is expected to open a public comment period, typically lasting 30 or 60 days, according to Bloomberg. The review signals that regulators are still weighing questions around a market that would allow participants to trade and hedge the cost of computing power.　　CME announced last week that it plans to launch two compute futures contracts on Oct. 5, pending regulatory approval, effectively turning AI computing capacity into a tradable commodity alongside oil and electricity. Market intelligence firm Silicon Data will provide the benchmarks used to price the contracts.　　The products are being launched as artificial intelligence reshapes the economy and investment landscape, driving a historic buildout of data centers and

08-18Industry

Ethereum Developers Target Privacy Changes in Next Major Upgrade

In briefEthereum Foundation researchers want Frame Transactions and FOCIL prioritized for the Hegotá upgrade.Frame Transactions and related proposals could let privacy pools pay their own fees without relying on third parties.Developers are considering 66 proposals for the 2027 upgrade, with FOCIL currently the only confirmed addition.　　Ethereum developers are considering changes that could let privacy pools pay their own transaction fees, reducing their reliance on third-party services that can expose wallet activity.　　In a post on X on Monday, Ethereum Foundation researcher Toni Wahrstätter said the Protocol Architecture team wants to prioritize two proposals for Hegotá, the major Ethereum upgrade scheduled for 2027: Frame Transactions (EIP-8141), which would give wallets more control over how transactions are executed, and Fork-Choice Enforced Inclusion Lists, or FOCIL (EIP-7805), which would make it harder to censor eligible transactions.　　Myriad: Ethereum next price move？ Click to make your prediction.　　“Together with Frames, these enable privacy pools where the pool itself can pay fees, removing the need for intermediaries,” Wahrstätter wrote. “Add FOCIL support and privacy transactions also gain protocol-level inclusion guarantees.”　　Frame Transactions would work with Keyed Nonces and Recent Roots (EIP-8272) to let privacy pools pay their own fees without an intermediary. Wahrstätter described frames as a “much more

08-18Industry

ZEC Breaks $500 as 4.3% Daily Gain Puts XMR Further Behind

Zcash rallied over 4.3% to cross $518, bringing its market cap to $8.65 billion and widening its lead over monero (XMR).　　Key TakeawaysZEC jumped over 4.3% to $518 after ZODL founder Josh Swihart announced key protocol upgrades.Zcash pushed its market capitalization to $8.65B, broadening its gap over Monero by nearly $1B.Compliance experts warn ZEC faces potential government bans as shielding violates BSA rules.　　Ecosystem Progress　　Zcash (ZEC) surged past the $500 mark on Monday, rebounding from an Aug. 11 slump that saw it dip below $470. Market data shows the privacy coin fell from under $495 on Sunday afternoon to a 24-hour low of $484. However, just before midnight, ZEC recovered to $490 and held above that level until 2 a.m. EST, when a sharp rally propelled it to $518.　　Despite slightly retreating below $515, ZEC maintained a 4.3% 24-hour gain, making it the top-performing high-cap altcoin of the day. The rally lifted its market capitalization to $8.65 billion, widening its gap over Monero (XMR) to nearly $1 billion.　　The sudden surge occurred shortly after Josh Swihart, founder of ZODL, shared a reflective message alongside the latest protocol updates.　　Swihart opened with a personal reflection on leadership, drawing on historical and mythical figures to argue that

08-18Industry

RIOT stock gains 4.7% as JPMorgan lifts target to $22

RIOT stock has climbed 4.7% to $19.91 after JPMorgan raised its Riot Platforms price target to $22 following the Bitcoin miners $9.1 billion data center agreement reportedly involving Anthropic.　　SummaryJPMorgan raised its RIOT target from $20 to $22 and retained an Overweight rating.Riots 20-year data center contract is expected to generate $9.1 billion in revenue.Morgan Stanley separately increased its RIOT target from $36 to $43.RIOT faces resistance at $20.48, while its main 4-hour support sits near $18.50.　　JPMorgan sees momentum building at Riot Platforms　　On Aug. 1, JPMorgan had increased its price target for Riot Platforms from $20 to $22 while keeping an Overweight rating on the Nasdaq-listed stock.　　Riot Platforms $RIOT price target raised to $22 from $20 at JPMorgan　　JPMorgan raised the firms price target on Riot Platforms to $22 from $20 and keeps an Overweight rating on the shares.　　The company is “building momentum” with an Anthropic lease signed at attractive… 　　JPMorgan analysts said Riot was “building momentum” after securing its latest data center agreement at what the bank described as “attractive economics.” The analysts also said work connected to Riots existing lease with chipmaker AMD remained on schedule.　　At $19.91, RIOT traded about 10.5% below JPMorgans revised target. The 4-hour chart showed the

08-18Industry

Bitcoin production slips again in July for CleanSpark, BitFuFu and Canaan

Quick TakeBitFuFus self-mining output rose despite a 7% decline in total managed hashrate.CleanSpark is up 6.4% year to date, while BitFuFu and Canaan have fallen more than 50% and 70%, respectively.　　Public bitcoin miners CleanSpark, BitFuFu, and Canaan each reported lower bitcoin production in July for the second consecutive month, even as the price of bitcoin recovered from a major selloff in June.　　CleanSpark produced 586 BTC during July, down about 5% from 614 BTC in June. BitFuFus production fell roughly 10% to 112 BTC from 125 BTC, while Canaans output dropped about 28% to 46 BTC from 64 BTC.　　The declines come as bitcoin (BTC) recovered during July, opening the month around $58,500 and closing near $62,800. That followed a steep June selloff that saw bitcoin fall from roughly $73,500 at the beginning of the month to around $58,500 by the end.　　Stock performance among the three miners is all over the map this year. CleanSpark (CLSK) rose 1.8% to $12.30 on Monday, putting it up about 6.4% year to date. BitFuFu fell 5.5% to $1.37 and has lost more than half its value this year, while Canaan (CAN) slipped about 1% to $0.23, extending its year-to-date decline to more than 70%.　　CleanSpark (CLSK),

08-18Industry

Live updates: Bitcoin rises above $64,000 as big AI compute deals continue to roll in

Saylor: ‘We have to be able to sell bitcoin’ after STRC drawdown tests Strategy　　Strategy executives said STRCs recent drawdown taught the company to keep more cash on hand and remain willing to trade both bitcoin (BTC) and its preferred stock.　　CEO Phong Le said Monday that the biggest lesson was the need for U.S. dollar liquidity to backstop STRC dividends and build confidence among institutional investors. Strategy now holds $4.8 billion in dollars, he said.　　Executive chairman Michael Saylor said the episode also changed how Strategy approaches its bitcoin holdings. “We have to be able to sell Bitcoin as well as buy Bitcoin for the Bitcoin to be fairly valued,” Saylor said.　　He said refusing to sell bitcoin — which he had preached for years — to fund credit dividends could hurt how investors value Strategys credit products.　　The same logic applies to STRC. Strategy must be prepared to buy STRC as well as issue it, Saylor said.　　“We were very good at selling STRC at $100, and we were very good at buying BTC,” he said. “But now, we have illustrated to the market that we can sell BTC and we can buy STRC.”

08-18Industry

US Treasury seeks public comment on GENIUS Act stablecoin rules

Quick TakeUnder the law, entities generally cannot issue payment stablecoins in the U.S. without obtaining an appropriate federal or state license.In July 2025, President Trump signed a bill that would create a federal regulatory framework for stablecoins, marking the first significant crypto-related legislation to be signed into law.　　The U.S. Treasury Department on Monday will begin seeking public comments on the GENIUS Act, the landmark crypto legislation signed into law last year.　　The Treasury issued a Notice of Proposed Rulemaking on Monday seeking public comment on how it plans to implement Section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins Act.　　The GENIUS Act is expected to take effect on Jan. 18, 2027. Under the law, entities generally cannot issue payment stablecoins in the U.S. without obtaining an appropriate federal or state license. Digital asset service providers will also face restrictions on offering or selling foreign-issued payment stablecoins unless the foreign issuer can comply with U.S. legal orders and applicable reciprocal arrangements.　　Treasury seeks clarity on stablecoin issuance　　In July 2025, U.S. President Donald Trump signed a bill that would create a federal regulatory framework for stablecoins, marking the first significant crypto-related legislation to be signed into law.　　Beginning July 18, 2028, digital

08-18Industry

BitMart founder dismisses calls for audit as users report blocked funds, unpaid employees

SummaryBitMart founder Sheldon Lee dismissed as “fabricated rumors” an X post alleging that customers cannot withdraw funds and some employees have not been paid their July salaries, saying the exchanges Chinese-language account was hacked.Users and critics, including onchain investigator ZachXBT, are demanding that BitMart restore withdrawals or submit to independent third-party audits, as the exchange winds down operations ahead of its final trading day on Aug. 26.Distressed investment firm Echo Base said it proposed a funded restructuring package for BitMart but received no response, warning that the situation is unlikely to be resolved without a court process to address widespread customer claims.　　BitMart founder Sheldon Lee dismissed calls to explain why, according to a post on X, some customers of the exchange are unable to withdraw their funds and some employees were not paid their July salaries.　　The post on the exchanges Chinese-language account, which Lee said had been hacked, called on him and business partner Yi Li to open the books, including wallets, assets, liabilities, and usable reserves, to independent verification. It gave Lee until Aug. 19 to respond.　　Last month, BitMart said it was winding down operations and Aug. 26 would be the final trading day. Many users are reporting withdrawals

08-18Industry

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