Latest Crypto News & Market Updates

SpaceX IPO banks yell ‘buy’ as stock craters

Wall Street analysts are trying to rescue Elon Musks floundering IPO, SpaceX after the stock erased $1.1 trillion of market capitalization in five weeks.　　Almost every Wall Street analyst has a price target (PT) higher than the stock price, with reiterations and upgraded forecasts arriving by the day, and all 12 IPO underwriters whose analysts have published research on SPCX rated it a “buy” or equivalent.　　Bullish analyst ratings have showered Musk‘s company with weeks of praise as the stock price has crashed. Yesterday, Macquariereiterated its “outperform” rating with a PT 100% higher than SPCX’s closing price.　　Last week, Piper Sandlerinitiated coverage with a $156 PT, $32 higher than yesterdays close. The same week, Needhammaintained its buy rating and increased its PT 25% to $250, Evercore ISI Groupinitiated at outperform with a $230 PT, and Zephirin Groupinitiated coverage at buy with a $310 PT.　　The tone around these ratings has been one-sided for weeks. Ratings by the investment banks that actually helped sell the stock during the IPO have sustained a sound wall shouting nothing but buy.　　Raymond James initiated coverage at “strong buy” and an $800 PT. Eight hundred dollars.　　The stock closed yesterday below $125, down 45% from its June 16 high.　　SpaceX stock has

07-22Industry

Bitcoin miners cut OTC holdings 72% – Assessing BTCs next move

Bitcoins miner-linked over-the-counter [OTC] balances continue shrinking. That means – fewer coins remain available for large private transactions.　　Since November 2021, holdings have dropped from 500,000 $BTC to 139,700 $BTC, a decline of nearly 72%. Miners drew down their inventory over time without meaningfully rebuilding it after the 2024 halving.　　Source: CryptoQuant　　As a result, OTC supply tightened while miner-to-exchange flows declined. Naturally, it suggested lower visible selling pressure on Bitcoin.　　Meanwhile, Bitcoin‘s [$BTC] price has advanced despite declining OTC inventories, highlighting stronger demand against a shrinking pool of available supply. Yet, if institutions and whales continue accumulating under these conditions, tighter liquidity could amplify Bitcoin’s upside sensitivity in the coming quarters.　　Bitcoin supply tightens beyond miner OTC desks　　The tightening supply picture extends beyond miner-linked OTC desks and is now visible across centralized exchanges.　　On the 20th of July, Bitcoin recorded $686 million in Exchange Netflows. By the way, Binance led with $570 million in net outflows, marking its largest withdrawal since April.　　Source: CryptoQuant　　Furthermore, Bybit contributed $65 million, Coinbase another $48 million, and HTX nearly $3 million.　　Ultimately, it meant there were coordinated withdrawals rather than isolated activity. As more $BTC leaves exchange wallets, the pool of coins readily available for spot-market selling continues to shrink.　　This trend

07-22Exchange

This trader is up 105% after buying the wrong chip stock by accident

A hypothetical, statistically plausible, and rather distracted investor had a rare opportunity to profit far more than their more mindful peers in late July 2026 by failing to differentiate between chips of the electronic and potato variety.　　Specifically, between Monday, July 21, and Tuesday, July 22, a chip company manufacturing the latter type of product – Utz Brands Inc (NYSE: UTZ) – suddenly soared 88.72% from $7.45 to $14.06, bringing the total monthly rally to 105.26%.　　UTZ stock price one-month chart. Source: Google　　Under the circumstances, even a distracted trader who attempted to find an undervalued chip stock amidst the ongoing artificial intelligence (AI) ‘boom’ while paying too little mind to whether the company is within the semiconductor industry could have generated profits far exceeding an investment in any of the major electronic chipmakers.　　Indeed, $1,000 invested in UTZ stock a month ago would have, by the latest close, risen to $2,052.60 for $1,052.60 in profits.　　For comparison, an equal Nvidia (NASDAQ: NVDA) or Advanced Micro Devices (NASDAQ: AMD) trade would have remained essentially flat, while buying Intel (NASDAQ: INTC) shares would have resulted in the position losing a quarter of its value.　　Why this chipmaker stock just soared 88% in a day　　Meanwhile, the sudden and

07-22Industry

Euro retreats from one-month top amid intervention risks, ahead of ECB

The EUR/JPY cross attracts some sellers after an intraday move up to a one-month high and drops to the 185.75-185.70 area during the early part of the European session on Wednesday. The supportive fundamental backdrop, however, favors bullish traders as the market focus remains on the crucial European Central Bank (ECB) meeting on Thursday.　　In the meantime, expectations of a hawkish ECB tone might continue to underpin the shared currency and support the EUR/JPY cross amid the underlying bearish sentiment surrounding the Japanese Yen (JPY). In fact, investors are currently pricing in a 78% probability of an additional 25-basis-point (bps) ECB rate hike in September amid worries about energy-driven inflation. This would lift the ECB‘s key deposit facility rate to 2.25%, which is significantly higher than the Bank of Japan’s (BoJ) policy rate of 1% – the highest since 1995.　　Euro rate expectations seen capped despite upcoming ECB meeting　　Analysts at ING caution that, even with focus intensifying on the upcoming ECB meeting and press conference, scope for a further hawkish repricing appears limited. As they note in their ECB cheat sheet, “it is hard to see the market pricing in even higher ECB rates, regardless of the language delivered at tomorrows ECB

07-22Industry

Hungarian Forint: Rally against Euro reassessed after rate cuts – Societe Generale

Societe Generale strategists analyze the Hungarian Forint (HUF) after the central bank of Hungary, Magyar Nemzeti Bank (MNB) cut its policy rate to 5.75% and signalled more easing. They expect a 5.0% terminal rate by year-end, noting EUR/HUF already bottomed near 348.59. With inflation below target and a resilient Forint, they still see EUR/HUF ending 2026 around 355, while highlighting risks from Oil and Hungarys 2027 budget.　　Forint outlook after MNB easing　　“In CEEMEA, the MNB yesterday lowered the policy rate by 25bp to 5.75% as expected and signalled scope for further easing ahead. A reassessment of the policy level and macro outlook is scheduled in September.”　　“With inflation comfortably below target and the forint resilient, we see scope for a decline to 5.0% terminal rate by year-end.”　　“That said, the question for HUF bulls is have we already seen the best of forint rally in 1H with EUR/HUF bottoming out 348.59 in mid-June.”　　“While much of the optimism of Euro-friendly government is priced in by the forint assets the rate cuts too are fully priced and EUR/HUF could still end the year around 355 but for that risks are in the form of elevated oil and the 2027 budget by Peter Magyars government due

07-22Industry

Vitalik Buterin Proposes Language to Make AI Proofs Readable

Ethereum co-founder Vitalik Buterin proposed a new programming language. It would compile directly into Lean or HOL, another formal proof assistant.　　The idea targets a specific gap in how people read AI output. Artificial intelligence increasingly produces large blocks of automated proofs, often faster than any human team could write them by hand. Few readers can quickly confirm what those proofs actually establish.　　A Language Built Only for AI Proof Readers　　Lean is a proof assistant, a software that mathematicians and engineers use to write proofs a computer can check line by line. Ethereum researchers already use on it to verify cryptographic code and consensus logic. Proof assistants have existed for nearly 60 years, yet the field has stayed a niche pursuit.　　A new type of “high-level programming language” that seems really worth trying to make, is a language that gets compiled to Lean (or HOL, or…) that is specifically about making it as friendly as possible for a human to read definitions and theorems.　　Not the proofs – as all…　　— vitalik.eth (@VitalikButerin) July 21, 2026　　In his post, Buterin argued that a proofs internal steps carry only one requirement. That requirement is mathematical correctness, nothing more. Readers never inspect that machinery directly. Definitions and theorems

07-22Industry

DAT Went Wrong: Satsuma to Unwind Bitcoin Treasury, Sell Off $43 Million in BTC

In briefShareholders voted by more than 90% to sell the companys 668 BTC, return capital, and cancel its London Stock Exchange listingThis marks the end of a Bitcoin treasury experiment in under twelve months.Satsuma raised £163.6 million in August 2025 but expects to return only £26.8 to £30 million after wind-down costs.　　The shareholders of Satsuma Technology, a U.K.-based Bitcoin treasury company, have voted to liquidate the companys entire Bitcoin position and shut down the business, overruling four of its six board members.　　More than 90% of votes cast backed the dual resolutions to sell 668 BTC—worth roughly $43.5 million—and cancel the companys London Stock Exchange listing, per a Monday filing. The move unwinds the digital asset treasury, or DAT for short—the latest such company to call it a day after the DAT trend picked up steam in 2025.　　Satsuma started life as TAO Alpha, a small AI firm, before rebranding and hiring Mark Moss in August 2025 as its Chief Bitcoin Strategist. Moss is an American Bitcoin commentator with over 700,000 YouTube subscribers known for advising institutions on how to buy and hold Bitcoin as a corporate treasury asset—essentially, a companys rainy-day fund, but in crypto.　　The same month, Satsuma raised £163.6 million

07-22Industry

Pakistans FIA Launches Crypto Investigation Unit to Fight Money Laundering

Pakistans Federal Investigation Agency (FIA) has established a dedicated cryptocurrency investigation unit to target money laundering and terrorism financing involving digital assets.　　The unit sits inside the FIAs newly operational National Command and Control Centre, known as NC3.　　Pakistan Builds an Enforcement Arm for Digital Assets　　FIA Counter-Terrorism Wing Director Dr Muhammad Athar Waheed told local media outlet Dawn the unit investigates the use of crypto in crimes rather than regulating the market. Therefore, Pakistan Virtual Assets Regulatory Authority (PVARA) keeps sole authority over licensing and oversight.　　Furthermore, Waheed urged the National Cyber Crime Investigation Agency (NCCIA) and the Anti-Narcotics Force (ANF) to build similar units.　　Pakistans move mirrors a wider global push against crypto-enabled crime. In recent months, US prosecutors have brought several cases against individuals accused of money laundering, investment scams, and other digital asset crimes.　　Follow us on X to get the latest news as it happens　　Meanwhile, Pakistan has pushed hard on digital asset policy in recent years. Last year, BeInCrypto reported that the country was building a framework to legalize crypto trading.　　In March 2026, Parliament passed the Virtual Assets Act. The law establishes a comprehensive regulatory framework for the digital finance sector.　　It also created the PVARA. The State Bank of Pakistan then

07-22Industry

Lynq and Nonco Collaborate to Expand Stablecoin Liquidity for Institutional Holders of Tokenized Fund Shares

Key TakeawaysLynq partnered with Nonco on July 21 to give institutional clients round-the-clock stablecoin liquidity.Clients can convert TFND shares into USDT, USAT, RLUSD or USDC 24 hours a day, bypassing U.S. wire limits.Nonco will initially operate off-platform, offering OTC settlement with no required Lynq software updates.　　Eliminating Operational Constraints in Digital Markets　　The interest-bearing settlement network, Lynq, announced July 21 that it has entered a strategic partnership with digital asset firm Nonco to give institutional clients 24-hour access to stablecoin liquidity and expand funding options beyond U.S. wire transfers and traditional banking hours.　　The agreement makes Nonco a dedicated liquidity facility for Lynq, allowing clients to convert tokenized fund shares (TFND) into stablecoins such as USDT, USAT, RLUSD and USDC — and back — at any time. Previously, Lynq accounts could be funded only through U.S. wire transfers, which are limited to domestic banking windows.　　Jerald David, CEO of Lynq, said the move aligns institutional infrastructure with the nonstop nature of digital markets.　　“The digital asset economy never sleeps, and institutional infrastructure shouldnt either,” David said. “This partnership with Nonco removes one of the last operational constraints facing institutional participants by giving them reliable, around-the-clock access to stablecoin liquidity.”　　Jeffrey Howard, partner and head of North

07-22Industry

Pi Network Warning: Strange Scam Activity Leaves Pioneer Wallet at Zero

Meanwhile, a senior tech engineer at the project said now its the most important time for Pi.　　Given the popularity of some cryptocurrency projects, they tend to be targeted by bad actors trying to exploit either the network behind them or vulnerable and unsuspecting users for their coins.　　A recent post on X outlined a potential threat for some Pi Network users (referred to as Pioneers) and urged immediate action from the Core Team.　　Pioneers, Beware　　In a post titled ‘strange scam activity reported involving a Pi Wallet,’ the user Rizo outlined someone else‘s issues in which the third party’s three-year lockup period for Pi coins finally came to an end. When they went to migrate the 143 tokens, it displayed that the wallet balance remained at 0. Moreover, they found a large number of failed transactions.　　Rizo was quick to flag the suspicious activity and believes the solution for this would be the implementation of 2FA or “another strong authentication method to become mandatory for Pi Wallets.” Moreover, they asked the Core Team behind the project to investigate the matter and strengthen the overall wallet security to protect users.　　It‘s worth noting that this is far from the first instance of suspicious activity not only

07-22Industry

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