Latest Crypto News & Market Updates

Bitcoin ETF inflows surge after Coldcard hack, but link is unclear: Bloomberg analyst

Demand for US spot Bitcoin exchange-traded funds (ETFs) has accelerated over the past week, with a string of daily inflows coinciding with the Coldcard wallet hack — timing that has prompted speculation about whether some investors are reconsidering self-custody.　　According to Bloomberg senior ETF analyst Eric Balchunas, BlackRock‘s iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), Bitwise Bitcoin ETF (BITB), ARK 21Shares Bitcoin ETF (ARKB) as well as Defiance Daily Target 2X Long MSTR ETF (MSBT) have recorded inflows every trading day since the weekend exploit, totaling roughly $620 million. The cumulative figure is consistent with Cointelegraph’s recent reporting on the ETF inflow streak.　　The Coldcard exploit drained more than $116 million worth of Bitcoin from over 5,200 wallet addresses, according to blockchain intelligence firm TRM Labs.　　“I‘m not saying it’s connected, we just don‘t know,” Balchunas said in a post on X. “[Although] long-term I can’t imagine there arent some who migrate over.”　　Source: Eric Balchunas　　Related: Bitcoin Red Team reports 5K findings in sweeping security audit　　Coldcard exploit renews debate over self-custody risks　　The Coldcard hack renewed concerns that even hardware wallet users can be exposed to firmware flaws and software vulnerabilities, highlighting the operational risks that come with self-custody.　　The incident also reignited

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Bitcoin Holds Above $64,500 as Short Liquidations Drop

Bitcoin briefly approached $65,000 on Thursday, holding support above $64,500 despite intraday pullbacks to $64,144 and bringing its gains since Aug. 1 to roughly 3%.　　Key TakeawaysBitcoin nearly reached $65,000 on Thursday, finding solid support above $64,500 despite intraday drops.Bitcoin pushed total crypto market cap near $2.29T as short liquidations fell to $30 million.Debate over BIP 110 and a potential 2-chain fork creates pre-fork buying pressure before pullbacks.　　Market Momentum and Intraday Volatility　　Bitcoin nearly reached $65,000 on Thursday as the cryptocurrency‘s gradual rise, albeit a slower one since the start of the month, showed no signs of slowing. Although selling pressure weighed on the market at times, bitcoin’s daily chart showed support above $64,500 during pullbacks.　　However, bitcoin slipped below that threshold in two separate trading sessions. The first drop occurred between 9 p.m. and midnight, when the price fell to around $64,480 or lower. While bitcoin rallied past $64,900 by 1:30 a.m. EST, a similar pattern emerged shortly after 8 a.m., when the asset dropped to a 24-hour low of $64,144.　　A swift rebound erased those losses, pushing bitcoin back past $64,800. At the time of writing, the asset was trading above $64,500, up 0.2% on the day. Since the start of the

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Coinbases Base app will become 'less Base-centric' under Cobie, Jesse Pollak says

Quick TakePollak said Base is seeing growing demand across tokenization, trading, payments, and financing.He called rival blockchain launches from Robinhood and Stripe “validation” of Bases strategy.　　Coinbases Base app will become less closely tied to its namesake blockchain as new leader Jordan “Cobie” Fish focuses on building an all-encompassing trading platform, Base creator Jesse Pollak said Thursday.　　“As its becoming a trading app, its just becoming less Base-centric,” Pollak said to The Blocks Gareth Jenkinson during an interview on The Starting Block podcast. “As weve kind of broadened the aperture to trade everything, youre going to trade assets everywhere [and] add features from different networks.”　　Fish took over leadership of the Base app last month, allowing Pollak to refocus on the underlying Base blockchain and its push into trading, payments and financing. Fish initially joined Coinbase after the exchange acquired his crypto fundraising platform Echo for approximately $375 million in cash and stock last year.　　Pollak said the app had previously been more zoomed in on growing the Base ecosystem through products built directly on the network. However, under Fish, it will broaden its scope to incorporate assets and features from other blockchains.　　“He‘s going to be focused on just building the best trading product,”

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Putin Signs Russia's First Crypto Law: Trading Is Legal, Payments Stay Banned

In briefPresident Vladimir Putin signed Russias first law giving comprehensive rules to crypto exchanges, custodians, brokers, and mining.Only firms on a state registry may run exchanges after July 1, 2027, with a 15 million ruble ($187,000) capital floor and a self-regulatory body requirement.Using crypto as money is still banned, and banks can block transfers they suspect flow to unregistered providers.　　Russian President Vladimir Putin signed the countrys first comprehensive law governing digital currencies on Tuesday, state news agency Tass reported. The legislation sets rules for how crypto is issued, stored, accounted for, and traded, wrapping exchanges, digital depositories, brokers, and clearing houses into one framework.　　It isnt a free market. The law keeps the ban on using crypto and digital rights as payment for goods and services, and it blocks advertising that pitches crypto payments. Russia already legalized cryptocurrency mining in 2024, when Putin signed a separate bill green-lighting the industry, so this law fills the gap on trading and custody that the mining rules left open.　　How the market gets built　　Only organizations on a special government registry may run crypto exchanges, and existing operators get a grace period to register by July 1, 2027. Registered exchanges need at least 15 million rubles

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Circle stock gets $140 target after mixed Q2 results

Circle stock gained on Thursday after Bernstein reiterated its Outperform rating and $140 target, arguing that the stablecoin issuers mixed second-quarter results challenged the bearish case against the company.　　SummaryCircle generated $701 million in Q2 revenue, up 7% but about 2% below estimates.Bernstein‘s $140 target implies roughly 114% upsidefrom CRCL’s latest price.USDC circulation reached $73.3 billion, up 19% year over year but down 5% quarterly.Circle expects the Arc public mainnet to launch Sept. 16with 11 institutional validators.　　Bernstein argues Circles results challenge bears　　Bernstein analysts led by Gautam Chhugani described Circles second-quarter report as a “counter thesis to the bears,” according to a Thursday note to clients.　　The brokerage retained its Outperform rating and $140 price target. The target is more than double Circles Thursday price of $65.29, although Bernstein had previously lowered it from $190 in late July.　　???? Circles Q2 numbers answered the bear case, Bernstein says.　　It reiterated Outperform and a $140 target on $CRCL, saying markets undervalue its reach, regulatory lead and Arc.　　The thesis: Circle is becoming infrastructure, not just a reserve-income stock.　　Circle reported $701 million in total revenue and reserve income, a 7% increase from the same period last year. The figure missed consensus estimates by about 2%, contributing to the

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XRP, Bitcoin Whales Are Accumulating—Is the Bear Market Nearly Over？

In briefCryptoQuant says the largest XRP cohorts are adding supply as price holds the $1.00–$1.20 range, with neutral order flow pointing to quiet absorption.XRPs realized price sits near $0.75 versus a market price around $1.10, a gap the firm calls a late-bear-market zone.The daily chart tells the same story: a death cross, price below both moving averages, and weak trend strength.　　Across some of the crypto markets biggest assets, including Bitcoin, Ethereum, and XRP, whales are adding to their bags, according to research from CryptoQuant.　　Julio Moreno, the company‘s head of research, said in a report that these coin’s largest cohorts are adding supply as prices sit near or below their average purchase cost. “This positioning lowers downside pressure and is consistent with the final phase of the cycles decline,” he wrote in the firms weekly report.　　In other words, we might be nearing the tailend of the crypto bear market.　　For XRP specifically, CryptoQuant said spot order sizes stay in “big whale” territory even as the token holds the $1.00–$1.20 band, hovering around a $66 billion market capitalization. But the 90-day taker cumulative volume delta—a read on aggressive buying and selling—has drifted to neutral. The firm said that big, low-key buy orders, paired

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FTX founder SBFs 25-year sentence formally upheld

A federal appeals court has issued its mandate affirming Sam Bankman-Frieds fraud conviction, 25-year prison sentence and $11 billion forfeiture order.　　SummaryThe Second Circuit formally upheld seven felony convictionsagainst the former FTX chief.Bankman-Frieds 25-year prison sentenceand roughly $11 billion forfeiture order remain in place.The court rejected claimsthat FTXs later asset recovery weakened the governments fraud case.A Supreme Court petition or presidential clemencynow represents his clearest remaining options.　　Second Circuit closes Bankman-Fried appeal　　The U.S. Court of Appeals for the Second Circuit filed its mandate on Aug. 4, putting its June 12 judgment into effect and returning jurisdiction over the case to the lower court.　　The mandate formally affirmed the judgment issued by the U.S. District Court for the Southern District of New York. A jury convicted Bankman-Fried in November 2023 on seven counts of fraud and conspiracy tied to the collapse of FTX and its affiliated trading firm, Alameda Research.　　U.S. District Judge Lewis Kaplan sentenced him to 25 years in federal prison in March 2024. Kaplan also imposed a forfeiture order of approximately $11 billion.　　You might also like:　　SBFs X account claims FTX was never bankrupt, triggers brief uptick in FTT token　　The three-judge appellate panel unanimously rejected Bankman-Fried‘s effort to overturn both his conviction and

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DePIN project Vangrid raises $9 million in token round to build spatial data network for physical AI

Quick TakeVangrid has raised $9 million in a token round backed by HashKey, Crypto.com Capital, Animoca Brands, and others, CEO Robert Brighton told The Block.The DePIN project plans to use the funding to grow its spatial data network for Physical AI applications, including robots and autonomous agents.　　Vangrid, a decentralized physical infrastructure network, or DePIN, focused on collecting spatial data, has raised $9 million in a seed funding round.　　HashKey, Borderless, Crypto.com Capital, Animoca Brands, Gate Labs and Mapleblock Capital participated in the round as “key stakeholders,” Vangrid co-founder and CEO Robert Brighton told The Block.　　“The round combines financial investors with strategic partners who contributed infrastructure, technology and exchange relationships rather than only capital,” Brighton said.　　Vangrid started fundraising in August 2025 and completed the round through multiple tranches in January 2026, Brighton said, noting that it waited to announce until the network was live.　　The seed round was structured as a simple agreement for future tokens, or SAFT, Brighton said, declining to comment on Vangrids valuation. He also noted that no board seats were granted as part of the round.　　Vangrid plans to use the funding to grow its spatial data network and form partnerships with companies building Physical AI infrastructure and applications.　　Spatial data

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MyTrade founder fined $10K over crypto wash trading

MyTrade founder Liu Zhou was fined $10,000 after admitting that his crypto market-making platform used bots to conduct wash trades for dozens of tokens.　　MyTrade founder receives $10,000 fine　　A federal court in Boston ordered Liu Zhou, the founder and primary operator of crypto market maker MyTrade, to pay a $10,000 fine for his role in a market-manipulation conspiracy.　　U.S. District Judge Angel Kelley imposed the sentence, according to the Department of Justice. Zhou, 41, is a Canadian citizen and Chinese national.　　Federal prosecutors charged Zhou alongside 17 alleged co-conspirators in October 2024. He pleaded guilty to conspiracy to commit market manipulation and wire fraud.　　MyTrade provided market-making services through its MyTrade MM website and application. Its products included a feature called “Volume Support,” which allowed crypto projects to select how much artificial daily trading activity they wanted across specified exchanges.　　The platform then used automated bots to repeatedly buy and sell the same cryptocurrencies. Those transactions created the appearance of greater trading volume and market interest without serving a legitimate commercial purpose.　　FBI token exposed MyTrades wash-trading service　　U.S. authorities identified the scheme through an undercover operation involving NexFundAI, a fake crypto company created by law enforcement.　　Investigators launched a website and an Ethereum-based NexFundAI token, which traded

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Here are the possible outcomes for Clarity right now

In other words, no news on cloture on Wednesday night might just be no news.　　In one scenario, Majority Leader John Thune files cloture on Wednesday night, gets through all of the Senates other priorities by Friday, holds the first procedural vote on Friday night and then everyone goes back to their districts to meet their constituents and campaign for reelection.　　In another, the Senate can break on Friday, Aug. 7, without taking any further steps on the Clarity Act.　　In that scenario, the Senate could still return in September and take up the Clarity Act once more. The Senate will also have to deal with funding the government and other issues at that time, and there are just 14 working days when the Senate is in session in September and October. This means it would likely be difficult to get the Clarity Act through, short of Senators agreeing to push it through. Its certainly possible it can get through Clarity in that time period, however.　　The legislative staffer told CoinDesk that if the outstanding issues are sorted through, the bill would easily have a chance at passage in September.　　Alternatively, the Senate could extend its working session through the weekend or into next week

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