Latest Crypto News & Market Updates

XRP and XLM outlook: Slide as bearish pressure grows

Ripple (XRP) and Stellar (XLM) remain under pressure on Tuesday after losing over 4% and over 5%, respectively, the previous day. In addition, weakening momentum indicators and deteriorating derivatives metrics suggest sellers remain in control, raising the risk of further downside for both altcoins.　　Weakening derivatives metrics support downside risk　　Derivatives data shows a slight bearish tilt. CoinGlass‘ long-to-short ratio for both XRP and XLM read 0.83 and 0.98, respectively, on Tuesday, nearing their lowest levels in over a month. The ratio being below one, indicates bearish sentiment, as traders are betting the assets’ prices will fall.　　XRP long-to-short ratio chart. Source: Coinglass　　XLM long-to-short ratio chart. Source: Coinglass　　In addition, the funding rates also show a bearish outlook. XRP funding rates flipped negative on Monday, reading -0.0058% on Tuesday. Similarly, for XLM, the funding rate flipped negative on Monday, reading -0.0210%, indicating that shorts are paying longs and signaling bearish sentiment.　　XRP funding rates chart. Source: Coinglass　　XLM funding rates chart. Source: CoinglassXLM technical outlook: Bears in control of the momentum　　XRP price trades at $1.05 on Tuesday after losing over 4% the previous day. XRP is maintaining a bearish near-term bias as price remains below the 50-, 100-, and 200-day Exponential Moving Averages (EMAs) at $1.13,

07-28Industry

Strategy Opens the Door to Bitcoin Sales—Michael Saylor Explains Why It Makes Sense

Key TakeawaysMichael Saylor explained that Strategy may fund STRC repurchases through MSTR stock sales or bitcoin sales.The company plans to adjust STRC repurchases according to market price and liquidity.Saylors objective centers on stronger liquidity, lower volatility, and sustainable independent demand for STRC.　　Why Saylor Anticipates More Bitcoin Sales　　Michael Saylor, Executive Chairman of Strategy Inc. (Nasdaq: MSTR), revealed on July 27 in an X post that future STRC repurchases may be funded through either bitcoin sales or MSTR stock sales, depending on market conditions. STRC is Strategys Variable Rate Series A Perpetual Stretch Preferred Stock, carrying a $100 stated amount and a dividend rate that management evaluates monthly.　　Bitcoin sales could become an attractive financing option when STRC trades sufficiently below $100, allowing the company to retire preferred shares at a discount.　　Saylor said the company aims to keep STRC trading near its $100 stated amount with high liquidity, low volatility, and sustainable independent demand. Under Strategys digital credit capital framework, it does not intend to issue additional STRC below $100.　　Discounted Buybacks Guide the Purchase Pace　　During the week ending July 26, the company repurchased 288,930 STRC shares for approximately $25 million at an average price of $86.52 per share, the company announced on July

07-28Industry

Thailand's SEC alleges Bitkub concealed cyberattack that led to $50 million hack

SummaryThailands SEC alleged that cryptocurrency exchange Bitkub and two of its former directors concealed a cyberattack that led to the theft of around 1.7 billion baht ($50 million) in May 2021.The SEC alleged that Sakolkorn Sakavee and Thaweesap Rawan made false statements in company documents to deceive the regulator.While the SEC and Bitkub made good the losses by the end of October that year, the regulator said it discovered that Bitkub did not disclose the incident accurately in relevant reports from that period.　　Thailands Securities and Exchange Commission (SEC) alleged that cryptocurrency exchange Bitkub and two former directors concealed a cyberattack that led to the theft of around 1.7 billion baht ($50 million), according to reports in local media on Thursday.　　The SEC filed a criminal complaint against Bitkub with the Economic Crime Suppression Division (ECD), accusing the exchange of providing false information and alleging that former directors Sakolkorn Sakavee and Thaweesap Rawan made false statements in company documents to deceive the regulator, the reports said.　　Bitkub was the victim of a cyberattack in May 2021, and 16 different digital assets were subsequently stolen, according to SECs investigation.　　The SEC and Bitkub made good the losses by the end of October that year. The

07-28Industry

Your Shared Claude Chats Were Being Quietly Published on Google

In briefA Reddit user discovered on July 25 that a simple Google search returned hundreds of fully readable Claude conversations.The chats exposed crypto wallet credentials, apparent Social Security numbers, legal discussions, and other sensitive data shared via Anthropics link-sharing feature.The root cause was a missing noindex meta tag; Anthropics existing robots.txt file was in place but couldnt prevent indexing once share links appeared on public sites.　　Every shared link Claude creates comes with a label: “Anyone with the link.” It turns out that included Google.　　A Reddit user ran a simple search on July 25—site:claude.ai/share—which asks Google to show everything it has indexed from a specific website—and got back hundreds of other peoples conversations.　　The thread hit 4,000 upvotes and briefly became a public record of the things people apparently feel comfortable saying to an AI: a lawyer asking whether they needed to self-report a professional ethics violation, someone pasting a crypto wallet seed phrase (the master password to a cryptocurrency account—whoever has it controls the funds), a person mid-process of becoming a nine-tailed fox, and enough incestuous erotica to surprise people who thought theyd seen the internet.　　Somewhere in the chaos is this jewel: “Why is the record industry hiding the fact that

07-28Industry

Securitize expands regulated platform with SEC adviser license

Quick TakeThe registration will enable Securitize to work more closely with asset managers and institutional investors on tokenized investment strategies.In December, Anchorage announced the acquisition of Securitize For Advisors, the wealth-management platform Securitize had built for registered investment advisers.　　Tokenization firm Securitize has officially gained status as a registered investment advisor with the U.S. Securities and Exchange Commission, according to an announcement on Monday.　　In particular, Securitize Capital LLC, a subsidiary of the publicly traded firm, gained the SEC registration, which will enable it to work more closely with asset managers and institutional investors on tokenized investment strategies.　　“Becoming an SEC-registered investment adviser is an important step in the continued expansion of Securitizes platform,” Securitize CEO Carlos Domingo said. Asset managers and institutional investors want to work with partners that understand both the opportunity of tokenization and the obligations that come with operating in regulated markets.　　With this step, Securitizes U.S. platform now combines four regulated pieces: an SEC-registered investment adviser, an SEC-registered broker-dealer that operates an Alternative Trading System (ATS), an SEC-registered transfer agent, and fund administration services.　　“Through Securitize Capital, we are adding another important capability to our full stack and strengthening our ability to help institutions develop and manage investment strategies built

07-28Industry

Compromised owner contract just let hackers print 5.2 million WEMIX stablecoins out of thin air, forcing a complete network freeze

The WEMIX team said compromised ownership of a contract tied to its WEMIX$ stablecoin enabled approximately 5.23 million tokens to be minted without authorization, prompting it to suspend bridges, liquidity pools, and several services on the WEMIX3.0 network.　　Contract-owner breach tested WEMIX　　Contract-owner breach tested WEMIX$s 1:1 design　　#39;s 1:1 design　　The WEMIX3.0 whitepaper describes WEMIX$ as 100% collateralized by USDC held in a Treasury and says its supply should remain equal to the Treasurys USDC volume. It also says minting is accessible only through Authorized Mint Access, which is granted solely to the DIOS stability protocol.　　WEMIXs preliminary incident update said the abnormal transactions began at 18:17 on July 26 (UTC+9), or 09:17 UTC, after ownership of a WEMIX$-related contract was compromised.　　Taken together, the two documents show that owner-level control was used to produce tokens outside the whitepapers intended minting path. WEMIX has not disclosed the exact route by which that control was compromised, and its update does not establish that the USDC.e later moved by the attacker came directly from the Treasury.　　WEMIX said the 5,225,525 unauthorized WEMIX$ was converted into 30,736 units of the networks native WEMIX token and 724,198.27 USDC.e, the bridged stablecoin used on WEMIX3.0. The company specifically said the converted

07-28Industry

Securitize gains SEC adviser status as SECZ falls 10%

Securitize expanded its regulated US platform after its capital subsidiary registered with the SEC, while SECZ shares fell nearly 10% on Monday.　　SummarySecuritize Capitals SEC investment adviser registration became effective July 22, federal records show.The registration adds disclosure, compliance, recordkeeping and examination requirementsunder US securities law.Securitize manages more than $5 billion in assets, including BlackRocks $2.6 billion BUIDL fund.SECZ fell nearly 10% to $6.76, reducing Securitizes market value to about $1 billion.　　Securitize Capital becomes an SEC-registered adviser　　Securitize said Monday that its subsidiary, Securitize Capital LLC, has registered with the US Securities and Exchange Commission as an investment adviser.　　The registration became effective on July 22, according to the SECs Investment Adviser Public Disclosure database. The Miami-based business had operated as an exempt reporting adviser in Florida since March 2023.　　That earlier status generally restricted the unit to advising venture capital funds or private funds with less than $150 million in US assets under management. Full registration removes those limits but brings additional disclosure, compliance, recordkeeping and examination duties under the Investment Advisers Act of 1940.　　“Becoming an SEC-registered investment adviser is an important step in the continued expansion of Securitizes platform,” co-founder and CEO Carlos Domingo said.　　“Asset managers and institutional investors want to work

07-28Industry

TD Cowen cuts David Baileys Nakamoto target 58% after bitcoin outlook reset

Quick TakeThe firm maintained a Buy rating on Nakamoto, with the new target implying roughly 275% upside.Recent refinancing pushed $105 million of principal through June 2027 and lowered borrowing costs.　　TD Cowen updated its valuation for the David Bailey-led Nakamoto bitcoin treasury company, citing pressure from bitcoins decline on the companys debt-heavy capital structure, but still maintained its Buy rating.　　The banks analysts Lance Vitanza and Jonnathan Navarrete lowered their split-adjusted price target for the Nasdaq-listed Nakamoto Inc. (NAKA) to $17. The new target still implies nearly 275% upside from NAKAs current price.　　Nakamoto went through a 1-for-40 reverse split in May, making TDs previous $1 target equivalent to $40 on the current basis. Todays $17 price target represents a 58% cut to that outlook.　　TD Cowens revised base case assumed bitcoin can climb back to $100,000 by the end of 2026, which is roughly 25% off its $126,000 all-time high recorded last October. The firm also expects Nakamoto to suspend additional bitcoin (BTC) purchases until 2027.　　“We continue to view bitcoin holdings as the primary driver of value,” Vitanza and Navarrete wrote in a Monday research note.　　The analysts said Nakamoto‘s debt and preferred securities make its common shares more sensitive to changes in bitcoin’s

07-28Industry

Why Shiba Inu (SHIB) Pump Failed: On-Chain Data Reveals How 52 Whales Cashed Out on Retail

Shiba Inus (SHIB) two-day 37% surge ended according to the classic pump and dump scenario: large holders fully cashed out, selling their coins to late retail investors. Fresh on-chain data from Santiment analysts shows exactly how whales used the wave of mass excitement to lock in profits and leave retail traders with losses.　　How retails fear of missing out gave whales an exit route　　As soon as SHIBs price began climbing, retail fear of missing out surged across social media. Shiba Inus social dominance index jumped to 0.084%, its highest level since April.　　Ordinary traders rushed to buy the coin, but, as often happens, their attention peaked when the rally was already running out of steam. The crowd entered at the very top.　　At the same time, large players began unloading their wallets and cashing out. Within 24 hours, the network recorded 52 whale transactions, each worth more than $100,000 — the highest figure since late March.　　Shiba Inu (SHIB) whale transaction count and social dominance, Source: Santiment via Sanbase　　The influx of liquidity from retail buyers jumping onto the “departing train” created ideal conditions for large holders to convert their holdings into cash without immediately crashing the order books.　　Large capital simply received the liquidity it

07-28Industry

Bitcoin price eyes $66K as US stocks rise on Iran-strike pause

Bitcoin (BTC) sought to build on local highs at Mondays Wall Street open as US stocks opened in the green.　　Key points:Bitcoin approached new local highs with the start of the weeks first US trading session.Stocks also opened higher amid relief over a hiatus in the US-Iran war and potential progress on reopening the Strait of Hormuz.BTC price action defended two daily moving averages on Sundays weekly close.　　Bitcoin follows stocks higher as Iran news offers risk-asset tailwind　　Data from TradingView showed BTC/USD spiking to near $66,000 as markets reacted to a pause in strikes between the US and Iran.　　BTC/USD one-hour chart. Source: Cointelegraph/TradingView　　Additional reports cited an Iranian foreign ministry spokesman announcing that Tehran and Oman were “trying to establish mechanisms regarding maritime traffic” through the Strait of Hormuz, a key global oil route currently closed.　　US WTI crude oil fell toward $82 per barrel on Monday before a modest rebound. The S&P 500 and Nasdaq Composite Index were both up by around 0.3% at the time of writing.　　CFDs on US WTI crude oil one-hour chart. Source: Cointelegraph/TradingView　　Acknowledging a potential stumbling block in the form of higher US bond yields, trading company QCP Capital voiced that they were anticipating tailwinds for the crypto market

07-28Industry

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