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Bitcoin production slips again in July for CleanSpark, BitFuFu and Canaan

Quick TakeBitFuFus self-mining output rose despite a 7% decline in total managed hashrate.CleanSpark is up 6.4% year to date, while BitFuFu and Canaan have fallen more than 50% and 70%, respectively.　　Public bitcoin miners CleanSpark, BitFuFu, and Canaan each reported lower bitcoin production in July for the second consecutive month, even as the price of bitcoin recovered from a major selloff in June.　　CleanSpark produced 586 BTC during July, down about 5% from 614 BTC in June. BitFuFus production fell roughly 10% to 112 BTC from 125 BTC, while Canaans output dropped about 28% to 46 BTC from 64 BTC.　　The declines come as bitcoin (BTC) recovered during July, opening the month around $58,500 and closing near $62,800. That followed a steep June selloff that saw bitcoin fall from roughly $73,500 at the beginning of the month to around $58,500 by the end.　　Stock performance among the three miners is all over the map this year. CleanSpark (CLSK) rose 1.8% to $12.30 on Monday, putting it up about 6.4% year to date. BitFuFu fell 5.5% to $1.37 and has lost more than half its value this year, while Canaan (CAN) slipped about 1% to $0.23, extending its year-to-date decline to more than 70%.　　CleanSpark (CLSK),

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Bitcoins Fixed Supply Stands Out as Global M2 Money Supply Surpasses $100 Trillion

As global liquidity reaches unprecedented levels, Bitcoin‘s hard-capped supply is drawing renewed attention from institutional leaders. Simon Gerovich, CEO of Tokyo-based investment firm Metaplanet, highlighted that the global M2 money supply has surpassed $100 trillion for the first time, reaching a record high. Despite Bitcoin’s price diverging from rising liquidity over the past year, Gerovich emphasized that the assets supply structure remains unchanged, reinforcing its long-term investment case.　　Global M2 Money Supply Hits Record $100 Trillion　　The global M2 money supply, which includes cash, checking deposits, and easily convertible near money, has crossed the $100 trillion threshold. This milestone reflects years of monetary expansion by central banks worldwide, particularly in response to economic stimulus measures and pandemic-era policies. While the growth in money supply has historically been a tailwind for risk assets, Bitcoins price movement over the last 12 months has not always mirrored this liquidity surge.　　Gerovich pointed out that despite this divergence, Bitcoins fundamental characteristic—a fixed maximum supply of 21 million coins—remains intact. In an environment where fiat currencies can be printed without limit, assets with capped supply become increasingly attractive to investors seeking to preserve purchasing power over the long term.　　Institutional Voices Align on Bitcoins Scarcity　　Simon Gerovich is not alone

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Stablecoins Were Supposed to Kill the Card Networks, They Didnt

Stablecoins were supposed to route around card networks entirely, cutting out the middleman fees that Visa and Mastercard have collected for decades. Instead, the data from July suggests something opposite is happening.　　Milestone That Actually Matters　　Stablecoin card top-up volume hit $1.084 billion in July, a 15.9% monthly gain, marking the first time this figure has crossed the billion-dollar mark. That number measures something specific, like how stablecoins are loaded onto crypto-linked cards, which users then spend the same way theyd spend any other card, through the existing Visa or Mastercard rails sitting underneath.　　Source: X　　The activity is concentrated on cheap, fast blockchains rather than the networks that dominate DeFi. TRON alone handled $311.2 million in stablecoin card top-ups in July, per data, close to 30% of total identified volume.　　Combined with BNB Chains $140.9 million, those two networks alone accounted for more than 40% of all card top-up activity, ahead of Optimism, Ethereum, Solana, Base, and Polygon.　　$USDC Is Winning the Card Race？　　The most interesting shift in July came from which stablecoin is actually being used to fund cards. $USDC card top-ups jumped 46% in July, versus just 7% growth for $USDT, data show. $USDC alone added more volume than every other stablecoin combined,

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Live updates: Bitcoin rises above $64,000 as big AI compute deals continue to roll in

Saylor: ‘We have to be able to sell bitcoin’ after STRC drawdown tests Strategy　　Strategy executives said STRCs recent drawdown taught the company to keep more cash on hand and remain willing to trade both bitcoin (BTC) and its preferred stock.　　CEO Phong Le said Monday that the biggest lesson was the need for U.S. dollar liquidity to backstop STRC dividends and build confidence among institutional investors. Strategy now holds $4.8 billion in dollars, he said.　　Executive chairman Michael Saylor said the episode also changed how Strategy approaches its bitcoin holdings. “We have to be able to sell Bitcoin as well as buy Bitcoin for the Bitcoin to be fairly valued,” Saylor said.　　He said refusing to sell bitcoin — which he had preached for years — to fund credit dividends could hurt how investors value Strategys credit products.　　The same logic applies to STRC. Strategy must be prepared to buy STRC as well as issue it, Saylor said.　　“We were very good at selling STRC at $100, and we were very good at buying BTC,” he said. “But now, we have illustrated to the market that we can sell BTC and we can buy STRC.”

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US Treasury seeks public comment on GENIUS Act stablecoin rules

Quick TakeUnder the law, entities generally cannot issue payment stablecoins in the U.S. without obtaining an appropriate federal or state license.In July 2025, President Trump signed a bill that would create a federal regulatory framework for stablecoins, marking the first significant crypto-related legislation to be signed into law.　　The U.S. Treasury Department on Monday will begin seeking public comments on the GENIUS Act, the landmark crypto legislation signed into law last year.　　The Treasury issued a Notice of Proposed Rulemaking on Monday seeking public comment on how it plans to implement Section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins Act.　　The GENIUS Act is expected to take effect on Jan. 18, 2027. Under the law, entities generally cannot issue payment stablecoins in the U.S. without obtaining an appropriate federal or state license. Digital asset service providers will also face restrictions on offering or selling foreign-issued payment stablecoins unless the foreign issuer can comply with U.S. legal orders and applicable reciprocal arrangements.　　Treasury seeks clarity on stablecoin issuance　　In July 2025, U.S. President Donald Trump signed a bill that would create a federal regulatory framework for stablecoins, marking the first significant crypto-related legislation to be signed into law.　　Beginning July 18, 2028, digital

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BitMart founder dismisses calls for audit as users report blocked funds, unpaid employees

SummaryBitMart founder Sheldon Lee dismissed as “fabricated rumors” an X post alleging that customers cannot withdraw funds and some employees have not been paid their July salaries, saying the exchanges Chinese-language account was hacked.Users and critics, including onchain investigator ZachXBT, are demanding that BitMart restore withdrawals or submit to independent third-party audits, as the exchange winds down operations ahead of its final trading day on Aug. 26.Distressed investment firm Echo Base said it proposed a funded restructuring package for BitMart but received no response, warning that the situation is unlikely to be resolved without a court process to address widespread customer claims.　　BitMart founder Sheldon Lee dismissed calls to explain why, according to a post on X, some customers of the exchange are unable to withdraw their funds and some employees were not paid their July salaries.　　The post on the exchanges Chinese-language account, which Lee said had been hacked, called on him and business partner Yi Li to open the books, including wallets, assets, liabilities, and usable reserves, to independent verification. It gave Lee until Aug. 19 to respond.　　Last month, BitMart said it was winding down operations and Aug. 26 would be the final trading day. Many users are reporting withdrawals

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6 Altcoins That Could Benefit From Treasurys New Stablecoin Rules

Treasurys new stablecoin rules would decide which dollar tokens can legally reach US buyers. Chains already running on a licensed dollar hold the edge, and six altcoins sit closest to it.　　Nothing is final yet, and Treasury opened a 60-day comment period. The hard deadlines land in January 2027 and July 2028.　　How Treasurys New Stablecoin Rules Sort the Chains　　Congress passed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in July 2025. The idea is simple. A dollar token needs a US license to reach American users.　　Sponsored　　Sponsored　　Two dates carry the weight. Unlicensed issuance inside the country ends on January 18, 2027. Then from July 18, 2028, platforms generally cannot sell payment stablecoins to US persons. Only licensed issuers pass.　　No issuer holds that license yet, because licensing opens in 2027. However, the queue has already formed.　　The Office of the Comptroller of the Currency (OCC) approved five trust bank charters last December on a conditional basis. Circle, Ripple, Paxos, Fidelity Digital Assets, and BitGo made that list. Circle then went further and won final approval in July.　　Treasury Secretary Scott Bessent framed the goal as certainty.　　“Treasury welcomes input from stakeholders as we work to provide the regulatory certainty businesses need to innovate

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Strategy raises $334M through stock sales but buys no Bitcoin

Strategy raised $333.7 million through common stock sales last week but made no Bitcoin purchases, leaving its holdings unchanged at 840,447 BTC.　　The company sold 3.46 million MSTR shares between Aug. 10 and Aug. 16 through its at-the-market offering program, according to a Monday 8-K filing with the US Securities and Exchange Commission.　　Of the proceeds, $52.4 million was used to fund the twice-monthly dividends on STRC preferred stock, while $132.2 million funded repurchases of the same security. Another $149.1 million was added to the companys US dollar reserve.　　Strategy repurchased about 1.39 million STRC shares for $132.2 million during the week. It made no repurchases of its other preferred securities or MSTR common stock.　　STRC was down 0.12% in premarket activity Monday at $94.67 after closing Friday 1.03% lower at $94.78, according to Yahoo Finance.　　The company reported no Bitcoin purchases or sales during the period. Its 840,447 BTC were acquired for an aggregate $63.36 billion, including fees and expenses, at an average purchase price of $75,385 per coin.　　Strategys US dollar reserve stood at $4.80 billion as of Sunday, including expected proceeds from stock sales that had not yet settled. The reserve is intended to support preferred-stock dividends and interest payments on outstanding debt.　　Related:

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Bitmine nears 5% of Ethereum supply despite $8.4B in unrealized losses

Tom Lee‘s Bitmine Immersion Technologies, an Ethereum treasury company, resumed its Ether purchases last week, bringing it closer to a key business target of owning 5% of the second-biggest cryptocurrency’s supply despite challenging market conditions.　　The company disclosed Monday that it acquired 9,926 Ether (ETH) during the week ending Aug. 16, bringing its total holdings to roughly 5.82 million ETH, or about 4.8% of Ethereum‘s circulating supply. At an ETH reference price of $1,893, Bitmine’s Ether holdings were valued at roughly $11 billion. However, much of the companys ETH was acquired at significantly higher prices.　　Ethers price was little changed on Monday, sitting just above $1,900.　　The latest purchase puts Bitmine within striking distance of its long-term “Alchemy of 5%” target of holding 5% of the total ETH supply.　　Bitmines conviction has been tested by a prolonged bear market for Ether, which has sharply eroded the value of its digital asset treasury. The company is sitting on more than $8.4 billion in unrealized losses on its ETH holdings, according to industry data.　　With a portfolio value of more than $11 billion, BitMines unrealized losses are around 43%. Source: DropsTab　　Still, Bitmine has continued accumulating Ether, making purchases every week since launching its ETH treasury strategy in

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Keep America 'The Crypto Capital of the World': US Treasury Chief Bessent Speaks Out on Stablecoins

U.S. Treasury Secretary Scott Bessent announced on X that the Treasury is moving toward the practical implementation of the GENIUS Act, which is designed to “keep America the crypto capital of the world.” The statement followed the Treasurys official issuance of a Notice of Proposed Rulemaking (NPRM), launching the development of federal rules for payment stablecoins.　　The new framework fundamentally changes the rules of the game by introducing mandatory licensing and barriers for foreign issuers.　　According to Bessent, the White House and Congress have provided the industry with “clear rules of the road” that will give businesses the regulatory certainty needed to innovate and grow within the United States.　　US Treasury Secretary Scott Bessent announces the implementation of the GENIUS Act framework for payment stablecoins, Source: X account of Bessent　　The implementation process will take place in several stages, and the department has already opened a 60-day window for public comments. As Bessent emphasized, the Treasury “welcomes input from stakeholders” as it works to finalize the regulatory framework.　　The full launch of strict government oversight is scheduled for 2027–2028. The Treasury expects rigorous control over digital assets not only to protect the domestic market but also to help “cement the role of the U.S. dollar

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