Latest Crypto News & Market Updates

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,”

08-07Industry

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

08-07Industry

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

08-07Industry

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

08-07Industry

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

08-07Industry

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

08-07Industry

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

08-07Industry

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

08-07Industry

Bitcoin‘s low volatility doesn’t necessarily mean low risk

“When volatility is cheap, traders can build directional positions and hedges at relatively low cost. If the market then moves through a level with concentrated positioning, dealer hedging can accelerate the move,” Adam Haeems, head of asset management at Tesseract Group, which manages $500 million in client assets, said in an email.　　“The practical implication is that low volatility should not be mistaken for low risk. It is a reason to be careful with leverage, particularly when trading volumes and market depth are subdued.”　　For now, BTC remains choppy below $65,000 with some green shoots.　　According to Paul Howard, a senior director at market-making firm Wincent, demand for puts, or downside protection, has weakened. At the same time, there is a lack of strong bids for upside exposure.　　“It indicates that the bear market is close to trading at its lowest price range for this cycle, arguably over the coming weeks,” he said in an email.　　“The asymmetry is not a bid for puts; it is the disappearance of the call bid. Nobody is paying for upside, and nobody is paying much for downside,” Glassnode said.　　According to Howard, the next big catalyst would be “some positive regulatory news such as with the Clarity Act, which

08-07Industry

Tether expands tokenization business into Saudi Arabia, starting with real estate

SummaryTether will provide the tokenization infrastructure for institutional real estate assets in Saudi Arabia.The initiative gives Tether a foothold in the Middle East country pursuing financial modernization under its Vision 2030 program.First Data will act as issuer and market operator, while BKN301 will connect the platform with banking and compliance systems.　　Tether, best known for issuing USDT, the worlds most widely used stablecoin, is expanding its push into real-world asset tokenization to bring institutional-grade real estate asset onchain in Saudi Arabia.　　The company said Thursday that its tokenization platform, dubbed Hadron, will provide the technology to issue and manage tokenized real estate assets for institutional investors in the country. Tether is teaming up with Saudi partners First Data and fintech company BKN301 on the effort.　　The operating model could later expand beyond real estate into energy, infrastructure finance and other real-world assets, the firms said.　　The announcement marks Tethers latest effort to expand beyond stablecoins into tokenization, a fast-growing application of blockchain rails in finance. The firm launched Hadron in 2024 to simplify asset tokenization and is also the issuer of the largest tokenized gold offering, the $2.6 billion XAUT.　　Banks and asset managers have increasingly turned to tokenization to represent traditional assets such as

08-07Industry

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