Latest Crypto News & Market Updates

Following primary loss, crypto PACs invest $1.5M in 3 US state races

Two groups affiliated with the cryptocurrency company-backed political action committee (PAC) Fairshake disclosed spending more than $1.5 million on media to support House of Representatives and Senate candidates in Florida, Alaska and Wyoming after suffering a primary loss in Michigan on Tuesday.　　According to Federal Election Commission (FEC) filings as of Thursday, Fairshake PAC affiliates Defend American Jobs and Protect Progress spent a combined $1.5 million on ads for Republican and Democratic candidates, many of whom voted in favor of the Digital Asset Market Clarity (CLARITY) Act while serving in Congress.　　In Alaska‘s at-large congressional district, scheduled to hold a primary on Aug. 18, Defend American Jobs spent more than $500,000 on media supporting the re-election of Representative Nick Begich. The Super PAC spent about the same amount on Republican candidate Sydney Gruters in Florida’s 16th district, and Representative Harriet Hageman, running for the soon-to-be-vacant Wyoming Senate seat now occupied by Cynthia Lummis. Both US states will also hold primaries on Aug. 18.　　The reported expenditures follow a primary loss for a Protect Progress-supported candidate in Michigan‘s 13th Congressional District. On Tuesday, Democratic incumbent Shri Thanedar lost a primary to State Representative Donavan McKinney after the Super PAC poured more than $2 million

08-07Industry

Bitcoin miners MARA and CleanSpark post double-digital revenue drops as AI infrastructure pivot continues

Quick TakeMARA Holdings saw second-quarter 2026 revenue drop 27% to $174.9 million from the year before, while CleanSpark, reporting its third fiscal quarter, saw $138.0 million in revenue, a 30.5% decline.　　Despite the weaker results, both companies continued expanding high-performance computing and AI infrastructure capacity.　　Bitcoin miners turned AI infrastructure providers reported softer quarterly results Thursday, with MARA Holdings posting second-quarter 2026 revenue of $174.9 million, down 27% from $238.5 million a year earlier, and CleanSpark, reporting its third fiscal quarter ended June 30, claiming $138.0 million in revenue, a 30.5% decline from $198.6 million a year prior.　　Both firms have been investing in expanding their high-performance computing business lines amid growth in the AI sector and the rising difficulties of mining bitcoins.　　MARAs net loss widened to $611.3 million, or $1.60 per diluted share, versus net income of $808.2 million in the year-ago period, driven in part by a $343 million fair-value loss on digital assets. Adjusted EBITDA swung to a $360.9 million loss from a $1.2 billion profit.　　MARA mined 2,422 BTC during the period at an average price of about $71,325 and sold 2,213 BTC at an average of $73,078. Energized hashrate rose 22% year-over-year to 70.3 EH/s, while cost per petahash

08-07Industry

Wintermute Lands US Broker License and a 5-Year Plan to Rival Citadel

Wintermutes US arm has registered as a broker-dealer and already signed exchange-traded fund (ETF) issuers as clients, the Wall Street Journal reported.　　The registration clears Wintermute USA to register as a market maker on American stock exchanges. Chief Executive Evgeny Gaevoy said the firm wants to compete with Jump Trading, Jane Street and Citadel Securities within three to five years.　　Good morning, USA ????????　　Follow us on X to get the latest news as it happens　　Sponsored　　Sponsored　　What the Wintermute Broker License Changes　　One list frames the whole move. BlackRocks iShares Bitcoin Trust held $43.2 billion at the end of June. A dozen firms are cleared to create and redeem its shares, the job that keeps an ETF trading close to the value of what it holds.　　Not one of them is a crypto company. The funds latest prospectus names Jane Street, Citadel Securities, Virtu Americas, Goldman Sachs and JPMorgan among them.　　That is the gap Wintermute is stepping into. It says it quotes prices across more than 60 venues, yet it could not touch the plumbing of cryptos own flagship product. The job needs a broker-dealer license.　　Now it has one. It also has customers waiting, according to the Journal.　　Registration does not make Wintermute a Wall Street firm

08-07Industry

Michael Saylor says ChatGPT helped Strategy raise $15B

Michael Saylor said ChatGPT helped him design the preferred stock financing model that enabled Strategy to raise about $15 billion for its Bitcoin-focused balance sheet.　　SummarySaylor credited ChatGPTwith helping develop Strategys preferred stock financing structure.Strategy raised about $15 billionthrough the securities and related capital-market activity.The company reported holding 842,138 BTCas of Aug. 2 after selling 1,638 BTC.Saylor said workers should use AI to extend their abilitiesrather than compete with automation.　　ChatGPT helped shape Strategys financing plan　　Strategy Executive Chairman Michael Saylor said he used ChatGPT to explore and develop a preferred stock financing model tied to the companys Bitcoin strategy, according to an Aug. 6 Fortune report.　　Saylor discussed the process during an interview with The Diary of a CEO. He said the AI chatbot helped him examine financing structures that Strategy later used to raise billions of dollars from investors.　　“AI helped me create $15 billion,” Saylor said.　　The figure reflects capital raised through Strategys preferred stock products and related financing rather than revenue generated directly by ChatGPT. The AI tool helped Saylor work through the structure, while investors, underwriters and company executives carried out the offerings.　　Strategy has built a group of Bitcoin-backed preferred securities, including STRC, STRK, STRF and STRD. The products give investors

08-07Industry

Senators Push CFTC to Ban Wildfire Bets on Prediction Markets

In briefNine Democratic senators urged the CFTC to prohibit prediction market contracts tied to wildfires.Lawmakers said the markets could create incentives for arson, insider trading, and profiting from natural disasters.The request comes as prediction markets face growing legal and political scrutiny across the U.S.　　Nine Democratic senators are urging the Commodity Futures Trading Commission to crack down on prediction markets that let users bet on wildfires, arguing the contracts create dangerous incentives to profit from natural disasters.　　In a letter earlier this week to CFTC Chair Michael Selig, Sen. Jeff Merkley (D-Ore.), Sen. Alex Padilla (D-Calif.), Sen. Adam Schiff (D-Calif.), and six other Democratic senators asked the agency to ban wildfire-related event contracts, warning they could encourage arson, enable insider trading, and put public safety at risk.　　“Offering bets on destructive wildfires threatens to minimize communities‘ suffering all so the rich and powerful can profit,” the Senators wrote. “There’s also the heightened risk—according to state and local fire officials—that individuals could be tempted to commit arson in order to make sure their bets are successful.”　　The senators pointed to reports that Polymarket accepted more than $1.2 million in bets tied to Californias Palisades and Eaton fires in 2025. They also cited newer platforms that

08-07Industry

Late Ondo founders mother seeks control of company and removal of De Bode as CEO

Quick TakeThe mother of deceased Ondo Finance founder Nathan Allman is seeking control of the company and the removal of Ian De Bode as chief executive, according to a court filing.The complaint alleges De Bode wrongfully assumed the role of CEO.De Bode said the legal complaints allegations are “meritless” and the company has the support of key stakeholders and lead investors.　　Kathleen Allman, mother of the late Ondo Finance founder Nathan Allman, is seeking control of the company and the removal of Ian De Bode as chief executive and president, according to a verified complaint filed in the Delaware Court of Chancery.　　In the complaint, Allman alleges that in the days after her sons death, De Bode improperly held himself out as CEO of Ondo without board approval and attempted to install himself as its sole director. She further contends that, as personal representative of Nathan Allmans estate, she holds a controlling voting interest in the company and has the authority to reconstitute its board.　　The public version of the filing redacts the precise size of that voting interest and the cause of Nathan Allmans death.　　“Ms. Allmans claims are meritless, and that will come through clearly in court. The company continues to have

08-07Industry

10 weirdest things ever tokenized... including farts

Brazils B3 stock exchange made headlines last month when its tokenized cows went viral.　　A farmer in southern Brazil was able to use 10 cows as collateral for a 100,000 Brazilian real ($19,600) loan by virtually herding them into a blockchain based holding pen, demonstrating how farmers can literally milk their assets to access credit.　　And it raises an obvious question: if cows can be tokenized, what cant be？　　From dairy cows to a years worth of farts, here are 10 of the strangest things to be tokenized onchain.　　1. A years worth of farts　　When BlackRock chief executive Larry Fink said every asset will eventually be tokenized, he probably wasnt thinking about flatulence. Yet, thats exactly what happened here.　　Every bit as appealing as, well, a years worth of farts, it has to be a contender for the strangest thingever to make it onchain.　　It was during the pandemic, when most people were baking bread or leveling up on Duolingo, that filmmaker Alex Ramírez-Mallis recorded his own farts and minted each one as a nonfungible token (NFT).　　They say farts are like children, and you only love your own. But the novelty factor meant that Ramírez-Mallis was able to sell his for 0.05 ETH each (about $85

08-07Industry

Situational Awareness returns with $400M investment after nearly collapsing: Report

Situational Awareness, the hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, reportedly invested $400 million in a privately held company days after it nearly collapsed under margin calls.　　The fund invested $100 million in the same unnamed company in July, Bloomberg reported Thursday, citing people familiar with the matter. The latest investment was completed on Tuesday.　　Cointelegraph has approached Situational Awareness for comment.　　Assets at Situational Awareness fell about 78% in July, as an AI-stock sell-off triggered margin calls from Wall Street lenders.　　The fund sought fresh capital and considered selling stakes in private companies, according to the Financial Times.　　The fund subsequently sold most of its public equity portfolio to Ken Griffins Citadel, allowing it to repay lenders and retain its private holdings.　　Situational Awareness had invested heavily in power and data centers supporting AI, including Bitcoin miners expanding into AI computing.　　A May 18 filing with the US Securities and Exchange Commission covering holdings as of March 31 showed about $1.11 billion in positions across seven Bitcoin mining stocks, including IREN, Core Scientific, Riot Platforms and CleanSpark.　　Magazine: Why Ray Dalio says Bitcoin cant replace gold

08-07Industry

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

08-07Industry

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

08-07Industry

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