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

08-07انڈسٹری

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

08-07انڈسٹری

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

08-07انڈسٹری

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

08-07انڈسٹری

Tokenized RWAs triple deposits to $7.4 billion as broader DeFi contracts 15%: CoinShares

Quick TakeDeposits into lending platforms and DEXs more than tripled YoY to $7.4 billion, driven by conventional assets like tokenized Treasuries, private credit, and gold tokens, a new CoinShares and Token Terminal report found.Meanwhile, total DeFi deposits fell around 15%.  A new CoinShares and Token Terminal report found that the tokenized real-world asset space has surged while the broader DeFi sector has contracted.  Deposits of tokenized RWAs into lending platforms and DEXs more than tripled from Q2 2025 to Q2 2026, from $2.3 billion to $7.4 billion. Meanwhile, total DeFi deposits fell by approximately 15% over the same period.  According to the report, that growth was driven almost entirely by conventional financial products rather than crypto-native assets. Tokenized Treasury and multi-strategy funds such as JTRSY, BlackRocks BUIDL and sUSDS led the collateral side, followed by private credit products and delta-neutral strategies.  Overall decentralized exchange spot volumes declined roughly 70%, yet trading in tokenized real-world assets climbed about 220%, with gold tokens including XAUT and PAXG accounting for a significant share, according to the report.  In perpetual futures, volumes and open interest in real-world assets continued to rise against a broader slowdown that began in October 2025, concentrated in oil, precious metals, the S&P 500, Nasdaq-100

08-07انڈسٹری

RWAs buck DeFi slowdown as tokenized assets gain traction: CoinShares

Real-world assets (RWAs) are gaining momentum as tokenized versions of traditional investments move beyond issuance and become active parts of onchain financial markets.  RWA deposits across decentralized finance platforms more than tripled year over year to $7.4 billion in the second quarter of 2026, while total DeFi deposits fell about 15%, according to a joint report by CoinShares and Token Terminal published Thursday.  CoinShares CEO Jean-Marie Mognetti said the divergence shows that RWA demand is being driven by practical use cases rather than broader market conditions.  “When an asset class grows through a downturn in its host ecosystem, demand is being driven by financial utility, not by market cycles,” he said.  The report suggested that the RWA market is entering a new phase, with investors using them as collateral, yield-generating instruments and trading products across onchain markets.  Yield-bearing stablecoins and Treasuries lead RWA deposits  Yield-bearing stablecoins and tokenized Treasury products have emerged as the largest categories of RWA assets used across DeFi, according to the report.  In Q2, Sky Protocols sUSDS led the category, giving holders exposure to a yield-generating version of its USDS stablecoin.  Tokenized Treasury funds, including BlackRocks USD Institutional Digital Liquidity Fund (BUIDL), have also become a major source of onchain collateral, as investors use

08-07انڈسٹری

Blockchain.com wins Cayman custody license after MiCA and FCA approvals

Blockchain.com has secured a virtual asset service provider (VASP) license from the Cayman Islands Monetary Authority to offer custody services.  Granted on July 22, 2026, the license allows the cryptocurrency services company to provide regulated crypto custody services in the Cayman Islands, according to a Thursday announcement reviewed by Cointelegraph. The license followed a conditional approval issued by CIMA in December 2025.  The license also allows Blockchain.com to provide crypto-to-fiat and crypto-to-crypto exchange services. The company has held a VASP registration in the Cayman Islands since May 2022.  Lane Kasselman, co-CEO of Blockchain.com, said the CIMA license builds on the companys recent regulatory milestones, including obtaining a Markets in Crypto-Assets Regulation license in Europe and registering with the UK Financial Conduct Authority.  “We believe strong regulation is essential to the long-term development of digital assets, and these approvals further strengthen our ability to serve customers across the region,” Kasselman said.  Related: MiCA list expands with 12 companies in fourth post-deadline update

08-07انڈسٹری

Bitcoin price coils under $65K as US PMI data brings new ‘stagflation’ warning

Bitcoin (BTC) stayed motionless at Thursdays Wall Street open as analysis saw signs of reemergent US “stagflation.”  Key points:Bitcoin stays below $65,000 as Iran tempers expectations over the Strait of Hormuz oil route reopening.US PMI data analysis sees “stagflation” return as a potential future risk.BTC price indecisiveness means that the market still lacks a “genuine breakdown,” says Bitfinex.  Iran cools market hopes of Hormuz deal  Data from TradingView showed BTC/USD hovering above $64,000, down around 0.5% on the day, while US stocks opened flat.  BTC/USD one-hour chart. Source: Cointelegraph/TradingView  Anticipation of a deal between Iran and Oman to reopen the Strait of Hormuz oil route did little to spark volatility — in the absence of US participation, it remained uncertain whether international shipping would fully resume.  “This understanding does not, in itself, mean that the Strait of Hormuz will reopen,” Irans Deputy Foreign Minister Kazem Gharibabadi said in an interview with the state-run Islamic Republic News Agency (IRNA), quoted by CNN.  US WTI crude oil was little changed on the day at $76 per barrel, having hit three-week lows of $74.30 the day prior.  CFDs on WTI crude oil one-day chart. Source: Cointelegraph/TradingView  As markets awaited further geopolitical cues, trading resource The Kobeissi Letter turned to the latest US

08-07انڈسٹری

US Senate will vote on CLARITY crypto bill ‘without any question’ this week: Tim Scott

Senator Tim Scott, who chairs the Senate Banking Committee, said that the chamber would vote on the Digital Asset Market Clarity (CLARITY) Act before it broke for an August recess, giving lawmakers just a few days to take action on the crypto bill.  In a Thursday Fox Business interview, Scott said that the Senate “should have the first vote” on the CLARITY Act before lawmakers leave for state work periods this week. He added that Senate Majority Leader John Thune, who has the authority to set the agenda and schedule floor votes, still had time to announce a cloture vote on the crypto bill in the next few days.  “The good news is we have the time to get it done,” said Scott.  The South Carolina lawmaker‘s statement echoed comments from Senator Cynthia Lummis, who on Wednesday urged the Senate to take up a vote on CLARITY before the chamber’s August recess. Should Republican leaders schedule a vote, the bill would need support from 60 lawmakers to pass the Senate and advance in Congress.  Among the issues still under discussion as of Thursday were concerns from many Democrats regarding US President Donald Trump‘s crypto investments and heads of the banking industry calling for the

08-07انڈسٹری

Cathie Wood's Ark Invest Makes SpaceX, Circle Top Holdings After Latest Buying Spree

In briefCircle and SpaceX are now among the 10 largest holdings in ARKK.SpaceX accounts for 4.73% of the portfolio, while Circle represents 3.90%.Recent purchases extended Arks buying streak in both companies.  SpaceX and Circle are among Cathie Woods largest investments, according to an Ark Innovation ETF (ARKK) holdings report published Thursday.  SpaceX is ARKKs fifth-largest holding, with a market value of nearly $282 million and a 4.73% portfolio weighting. Circle ranks eighth at about $233 million, accounting for 3.90% of the fund.  The two companies join Tesla, Coinbase, Robinhood, OpenAI, Bitmine, and Palantir among ARKKs largest positions, reflecting Arks continued focus on artificial intelligence, crypto, fintech, and other technology companies.  Arks latest trading disclosure shows the firm continued adding to both holdings after the companies reported second-quarter earnings. It purchased 181,830 SpaceX shares across four exchange-traded funds, including ARKK, and 273,343 Circle shares across ARKK and two other funds. Based on the companies closing prices, the purchases were worth about $20 million and $17.3 million, respectively.  The news comes after Circle and SpaceX reported second-quarter earnings this week.  Circle shares were little changed after the stablecoin issuer reported $701 million in second-quarter revenue and reserve income, up 7% from a year earlier. Adjusted EBITDA rose 8%

08-07انڈسٹری
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