Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

Myanmar has passed an “Anti-Online Scam Bill” to dismantle crypto scam gangs that reportedly use forced labor and coercion to run online fraud. The law links crypto-related digital currency investment scams with human trafficking and abuse. Key punishments are structured in three tiers under the Myanmar anti-online scam law. Running a scam centre or orchestrating digital currency/cryptocurrency investment schemes can carry life imprisonment. People who control operations and use violence, torture, unlawful arrest, detention, or cruel treatment can face 10 years to life. A mandatory death penalty applies if coercion leads to a victim’s death. Parliamentary and enforcement context: the bill was approved in a joint session of Myanmar’s lower and upper houses under the new government. Lower House MP Aye Chan said the death-penalty provisions remained after debate. The article frames this as part of a crackdown on the global “pig butchering” scam model, where fraudsters build trust over months before pushing deposits into rigged crypto trading platforms. Trader take: this is primarily a law-enforcement and compliance story rather than a direct market-structure catalyst. The nearer-term effect is likely reduced scam-driven on-ramps and higher regional counterparty risk for exchanges or local partners exposed to border cybercrime hubs; the long-term impact hinges on whether authorities can reach and prosecute entrenched criminal networks. Note: the articles did not state whether the bill has received presidential assent or when it would take effect.

Hashdex Asset Management will liquidate its U.S. spot Bitcoin ETF, the Hashdex Bitcoin ETF (DEFI) on NYSE Arca, after Aug. 17. Shareholders can sell on the exchange up to the close of business on Aug. 17. After that cutoff, the fund stops accepting creation orders from authorized participants and will delist. For remaining holders of the Hashdex Bitcoin ETF (DEFI), a cash liquidating distribution is expected on or about Aug. 28. The payout will be based on NAV, factoring in closing/liquidation costs and Bitcoin price moves while the fund sells its holdings. Traders should treat this as a modest, scheduled sell-side process tied to the Aug. 17–Aug. 28 window. It may add short-term execution and settlement uncertainty for DEFI holders, but the overall impact on BTC is likely limited given the fund’s ~$14.5m asset size and the broader spot ETF market being dominated by larger products such as IBIT.

Galaxy Research says the Coldcard firmware flaw thefts are now confirmed at 1,596 BTC (about $100M+) stolen from roughly 7,300 addresses across three major attack waves and 14 smaller incidents. A suspected fourth wave is possible at medium-high confidence, which could lift total losses to 2,055 BTC (about $130M). Galaxy kept the fourth wave outside “confirmed” totals because victims have not reported back yet; 73 victims have contacted the firm so far and helped verify the first three waves. On-chain, about 90% of the stolen bitcoin has not moved, and attacker/victim addresses have been shared with US federal law enforcement, exchanges and cyber investigators while sweeps are described as ongoing. Galaxy ties the incident to a March 2021 Coldcard firmware build error: a configuration setting skipped the device’s hardware random number generator, and key generation fell back to a software substitute seeded from chip serial/timer data. A fixed firmware shipped July 31, but it cannot repair seeds already generated with the vulnerable setup. For traders, the immediate market impact for BTC is likely limited, but headlines around the Coldcard firmware flaw can temporarily affect risk sentiment toward self-custody. The longer-term implication is a heightened focus on operational security, especially for users who delayed Coldcard firmware updates after the vulnerability surfaced.

Bitcoin self-custody is under renewed scrutiny after a Coldcard firmware flaw reportedly enabled attackers to steal over 1,300 BTC (about $83M–$89M claimed). Coldcard MK3 devices running firmware 4.0.1–4.1.9 generated recovery seeds with ~40 bits of entropy instead of the intended 128 bits, a regression traced to a March 2021 code change. The weakness allowed remote brute-force attempts without physical access, with thefts reported in multiple waves across thousands of addresses. Coinkite has released firmware 4.2.0+ and urged affected users to update immediately, then regenerate seed phrases and move funds—upgrading alone does not fix seeds created during the vulnerable period. It also recommends using strong BIP-39 passphrases and destroying remaining vulnerable inventory. Traders should note that this Bitcoin self-custody incident may increase near-term risk-off sentiment and scrutiny of hardware wallet operational security, potentially boosting demand for safer patterns like multi-signature setups. Overall, the event reinforces the market relevance of seed hygiene and firmware patch discipline, while longer-term impacts could be tempered if institutional custody adoption continues.

U.S. Bitcoin spot ETFs recorded $61.53M in net outflows on the latest trading day, ending a three-week inflow streak and raising concerns that July’s recovery in Bitcoin spot ETF flows may be stalling. SoSoValue data shows the shift after a stronger July period, including about $273M inflows over two weeks and $727M added over five days. Looking wider, May–June 2026 saw more than $8B in cumulative outflows, with June alone accounting for roughly $4.5B in redemptions. Bitcoin previously peaked near $126,000 in Oct 2025 before dropping below $60,000. By fund, BlackRock’s IBIT remains the key positive driver, while Grayscale’s GBTC continues to be the persistent redemption pressure. Cumulatively, Bitcoin spot ETFs since Jan 2024 show net inflows of about $53.9B, with IBIT holding roughly $62B in cumulative inflows since its launch. For traders, one-day Bitcoin spot ETF net outflows are unlikely to be catastrophic versus total fund assets. Some selling may be mechanical as basis-trade/arbitrage hedges unwind when ETF flow changes. Another factor is potential capital rotation, with spot Ethereum ETFs potentially drawing incremental allocations away from Bitcoin. Watch whether Bitcoin spot ETF outflows persist and whether IBIT’s relative strength can offset broader redemption pressure.

Binance delist 6 tokens from spot trading on 17 August 2026: ACX, HFT, PIVX, PYR, VANRY, and VIC. Binance said all related spot pairs will be closed and any open spot orders will be canceled. Binance delist actions typically reduce liquidity, so traders holding these tokens on Binance should consider exiting before the deadline or moving to another venue/self-custody. Key derivatives and service cutoffs come earlier. Binance futures will stop new positions at 08:30 UTC on 7 August and close/settle at 09:00 UTC. Spot Copy Trading pairs are scheduled for removal on 10 August. Convert support ends at 02:00 UTC on 17 August, and low-value conversions stop on 14 August. Withdrawals remain available until 03:00 UTC on 17 October 2026. Binance did not publish token-by-token reasons. It cited an evaluation framework spanning liquidity, development, network safety, team conduct, transparency, tokenomics, and regulatory changes, after some assets were flagged with “Monitoring Tags” earlier in 2026. Note: Binance will not support VANRY’s Base migration via a contract swap; holders must use Vanar’s official migration portal. After 18 October, any remaining balances may be converted to stablecoins, but this is not guaranteed.

XRP remains under heavy selling pressure as rebounds fade and price action stays bearish. On the daily chart, XRP trades below a descending resistance trendline and far under key moving averages, keeping the broader downtrend intact. After failed recovery attempts, XRP slid back toward the critical support/demand zone at $1.01–$1.04. For XRP/USDT traders, the key levels to watch are: $1.01–$1.04 (support) and $1.24–$1.29 (resistance). As long as XRP holds below the descending trendline and repeatedly rejects near $1.24–$1.29, downside risk persists. A decisive break below $1.01–$1.04 would likely accelerate selling toward the next major support near $0.89. On the 4-hour chart, XRP prints lower highs and lower lows, capped by the descending trendline. Rejection around $1.09 was followed by a drop back to $1.01–$1.04, suggesting buyers have not regained control. Bulls will likely need to reclaim the descending trendline first before any credible push toward $1.24–$1.29.

The Bank for International Settlements (BIS) says its Project Agorá completed a real-value test of tokenized cross-border payments using tokenised central bank reserves and commercial bank deposits on a shared ledger. About $1 million (≈800,000 Swiss francs) was settled in roughly 80 seconds across six currencies: USD, EUR, GBP, CHF, JPY and KRW. The pilot involved 28 commercial banks and five central banks, processed 30 transactions, and ran alongside existing payment rails rather than replacing them. A core feature was atomic settlement, which synchronizes balance updates to reduce credit and settlement risk. BIS also coordinated FX settlement in parallel and supported near-24/7 operation. BIS frames the earlier May stage (ended May 2026) as showing speed and safety improvements, with the new real-value results informing whether central banks and lenders should build tokenized payments systems. For traders, this is a traditional-finance infrastructure milestone for tokenized cross-border payments (not a direct upgrade to major crypto networks), so near-term price impact is likely limited and sentiment around tokenisation infrastructure may matter more than spot moves.

A Coldcard Bitcoin wallet hack campaign is expanding. Galaxy Research reports a third wave of attacks targeting addresses created on affected Coldcard hardware wallets. In this wave, attackers withdrew 207.7294 BTC, taking estimated total losses to 1,367.05 BTC (about $88.6M) across 4,585 addresses. Galaxy also estimates the attackers still control 1,366.3865 BTC, and not all stolen funds have been spent on-chain yet. Key change in the Bitcoin wallet hack pattern: earlier waves clustered victims via shared collection addresses and P2WPKH usage, while the third wave switched behavior to separate target addresses per victim, P2WSH destinations, batching about 6.37 victim addresses per “dump,” and scanning mainly the default derivation path. Galaxy cannot confirm whether all three waves came from the same attacker. Separately, Coinkite expanded its Coldcard advisory for additional models/firmware ranges. It warns that installing fixed firmware does not recover funds generated under vulnerable software. The recommended mitigation is migrating funds using updated firmware, verified backups, and test transfers. For traders, this Bitcoin wallet hack highlights ongoing, delayed on-chain theft risk tied to hardware-wallet generation issues. Monitor BTC wallet flows, exchange inflows, and self-custody risk sentiment as more clustered transactions may follow.

According to final-week FEC disclosures, the crypto PAC Protect Progress spent more than $2 million ahead of the Aug. 4 Democratic primary in Michigan’s 13th Congressional District. The committee is backing incumbent Shri Thanedar and opposing challenger Donavan McKinney with independent expenditures, including an $884,240 weekly increase that supports Thanedar and over $150,000 of negative messaging against McKinney. Thanedar has previously voted for stablecoin- and digital-asset-focused bills such as the GENIUS Act and the Digital Asset Market Clarity Act, while the House-passed CLARITY Act is still pending in the Senate. McKinney frames the ad surge as “payback” from the crypto lobby, but the filings confirm independent advertising only and do not prove coordination. For crypto traders, there’s no verified immediate price reaction tied to the race; the more relevant signal is continued industry pressure around stablecoin rules, which may shape broader regulatory expectations. The near-term market watch is whether the last spending surge helps Thanedar secure the nomination—another data point in how crypto PACs seek regulatory clarity through election cycles.

U.S. spot Bitcoin ETFs reversed sharply on July 31 with net outflows of $265.4M after $233.1M inflows the prior day. Every listed Bitcoin ETF was flat to negative, led by BlackRock’s IBIT (-$122.7M) and Fidelity’s FBTC (-$54.8M). Grayscale’s GBTC (-$52.6M) also declined, while BITB (-$17.8M) and ARKB (-$17.5M) added further outflows. For traders, this Bitcoin ETF flow data is a near-term bearish signal for spot-demand breadth. Ether’s outperformance looks less like a broad “rotation” and more like product-specific buying. Total Ether ETF inflows were about $9.0M, mainly because BlackRock’s staked Ethereum fund ETHB drew $15.4M. Excluding ETHB, Ether products would likely have posted net outflows. Other Ether products (e.g., FETH, ETHW, and a mini Grayscale trust) together lost about $6.4M, with most remaining funds roughly flat. CryptoSlate’s multi-day check weakens the rotation thesis: over July 24–30, Bitcoin ETFs lost $36.2M and Ether ETFs lost $69.7M. Only the wider July 20–31 window shows more support for ETH (+$113.8M vs. BTC -$27.6M). Bottom line: watch whether Ether inflows expand beyond ETHB; until then, ETH strength may not translate into a market-wide rotation.

Minnesota’s crypto ATM ban took effect on Aug. 1, 2026, shutting down kiosk-based cash-to-crypto entry points after nearly $1 million in reported scam losses over three years. The state said the crackdown targets fraud and consumer harm tied to machines that exchange cash (or other value) for cryptocurrency. State figures cited 134 complaints from 2023–2025, with 70 cases and more than $540,000 in losses in 2025 alone (about $6,800 per incident). Reported tactics included fake “family emergencies,” romance scams, and criminals impersonating government or law enforcement. Victims were often told to withdraw cash and then scan a QR code at the crypto ATM. Under the crypto ATM ban, operators must stop transactions by Aug. 1 and remove publicly visible kiosks by Dec. 31. Enforcement may include sanctions and civil penalties. The law focuses on whether a kiosk is “available for use,” not whether it remains physically inside a store. The article also cites additional FBI data on complaints and adjusted losses. For traders, this is a localized retail onramp/offramp restriction aimed at scam vectors, not an online crypto buy/hold ban. Expect a small, sector-level risk premium for cash access infrastructure, but no direct impact on major trading markets’ ability to price or settle crypto.

A Coldcard Bitcoin wallet exploit reportedly grew to about 1,082.65 BTC (around $70.2M) stolen from 1,196 addresses within 41 minutes on July 30. Binance founder CZ Zhao said even established hardware wallets can have bugs, stressing “Nothing is 100%” and urging traders and holders to avoid single-custody assumptions. New details trace the issue to a March 2021 firmware build error. A seed-generation fallback pulled randomness from a software path instead of Coldcard’s hardware RNG, making private keys easier to guess. Loss estimates were previously near 594 BTC, but Galaxy Research later revised the scope upward using a fund-flow pattern identified by Block engineers. Galaxy Research also reported consistent sweep behavior (fixed fee, no change outputs). Coinkite shipped emergency hotfixes and advised exposed users to migrate to newly generated seeds. For markets, this Coldcard Bitcoin wallet exploit reinforces “custody and key hygiene” risk pricing, which can weigh on short-term sentiment around BTC despite limited direct protocol impact.

Circle Internet Group, the issuer of USDC, received a limited-purpose trust charter from the New York Department of Financial Services (NYDFS) on 31 July 2026. The approval adds New York state oversight after Circle secured a federal national trust bank charter on 10 July 2026. The NYDFS charter is a state authorization under New York Banking Law. It permits fiduciary, custody and asset-management services, but it does not include deposit-taking or lending. Circle said the move is a milestone for regulated USDC issuance and compliance, framing New York’s regulator as a global benchmark. Circle also said the NYDFS approval complements—rather than replaces—the federal OCC approval. USDC operations in New York continue through the limited-purpose trust route, while reserve management is expected to evolve as the institution develops. At the time of reporting, USDC traded around $1.00, with market cap near $72.09B, circulating supply around 71.9B tokens, and 24h volume close to $12.8B. Other US limited-purpose trust charter holders include Coinbase, MoonPay, BitGo and Paxos. For traders, the key takeaway is clearer regulatory positioning for USDC custody and compliance, which can support sentiment around stablecoin rails as oversight expands.

XRPL is scheduled to release xrpld 3.3.0 next week, but activation depends on validator approval. Five XRPL amendments will go live only after validators vote. The upgrade targets institutional finance and tokenized-asset workflows, with five practical changes that traders should track for XRP utility. Key amendments in XRPL 3.3.0: - Native privacy for Multi-Purpose Tokens (MPT): Confidential MPT uses zero-knowledge proofs, keeping balances and transfer amounts private on the public ledger, while enabling auditor/regulator verification when needed. - Atomic execution across accounts (Batch): Up to eight transactions across different accounts can execute atomically—either all succeed or none—supporting settlement flows like delivery-versus-payment. - Delegation of authority for institutions: Grants narrowly scoped transaction permissions without handing over full signing-key control, improving separation of duties. - Sponsored fees and reserves: A sponsor can pay XRP transaction fees and account reserves on behalf of users, lowering onboarding friction for institutions and apps. - Dynamic MPT regulation: Issuers can predefine which token properties can be updated at issuance, reducing the need for token migration when business or regulatory requirements change. Near-term market relevance for XRP: the biggest catalyst is validator approval progress and any signal of enterprise tokenization adoption. Until activation, price impact may stay muted, but successful votes can increase expectations for XRP demand from fee sponsorship and institutional use.

trade.xyz says it will repay eligible traders after a SK Hynix pricing shock in South Korea’s NextTrade pre-market session cascaded onto Hyperliquid. The event involved a trade.xyz USDC-margined SK Hynix perpetual that tracks the stock’s USD value and switches to an external oracle when NextTrade opens. According to the report, the stock printed near $868—about 30% below the prior close but still within the exchange’s daily limit—and was relayed into the oracle. Even though the oracle behaved “as designed,” Hyperliquid’s mark price dropped about 18.7% shortly after the update. Within minutes, open interest fell from $481M to $331M, and an estimated 960 accounts were liquidated on the long side, totaling roughly $57M–$80M. trade.xyz confirmed the timing to July 27 and used a reference rate of $1,115.5 to calculate reimbursements. Losses up to $10,000 were eligible for automatic refunds; larger losses required a manual claim. The exchange frames the payout as a one-time discretionary decision, while it accelerates changes to its pricing approach—giving more weight to its own order books during volatility. For crypto traders, the key takeaway is that a traditional-market pricing shock can quickly amplify into large liquidation cascades on-chain—especially in tokenized-stock perpetuals and Hyperliquid builder markets where trade.xyz is a dominant liquidity source.

Coinkite warns of a Coldcard Mk3 seed-generation flaw linked to weak randomness during seed creation. Coldcard seed phrases generated on affected firmware builds may have only ~72 bits of entropy instead of the expected 128 bits, creating a theoretical predictability risk for some users. The company urges immediate trader-grade action: move all BTC off any affected Coldcard Mk3, then create and migrate to a new wallet using a fixed firmware (Mk4/Mk5 to 5.6.0+) or a different hardware wallet. Users should verify the new balance is zero on the old device, back up and confirm the new seed/address, and wipe the impacted device. Q devices below 1.5.0Q are also affected, though with a less severe impact. This advisory comes as an investigation follows reports of ~594 BTC drained from hundreds of single-signature wallets. Coinkite did not confirm a direct link to the theft, but the timing raises the possibility of overlap. For traders, this is not a protocol-level attack on Bitcoin, but a targeted self-custody operational-risk event. If more details confirm broader misuse or additional models are implicated, near-term sentiment around BTC custody and hardware-wallet trust could turn risk-off.

South Korea crypto tax will take effect on Jan. 1, 2027, after repeated delays. Deputy Prime Minister Koo Yun-cheol confirmed the timetable in a National Assembly meeting on July 29, and the plan has now been set by a December 2024 amendment. Under the Income Tax Act, annual crypto gains above 2.5 million won (about $1,740) will be treated as “other income.” The South Korea crypto tax rate is 20% national tax plus 2% local tax on the amount exceeding the allowance, implying a combined cap of 22%. The first tax filings are expected in May 2028 for gains realized in 2027. Taxpayers will calculate taxable profit as disposal proceeds minus eligible acquisition costs, which could add compliance burdens for users trading across multiple domestic and overseas platforms. A key concern is whether crypto investors will be allowed to carry forward losses. Critics, including People Power Party lawmaker Kim Sang-hoon, warn that the lack of loss offset could push some trading activity toward offshore centralized exchanges, DeFi venues, or peer-to-peer markets, reducing domestic liquidity and visibility. Meanwhile, an opposition bill introduced in March could repeal the crypto-income provisions or delay implementation further, though as of July 29 it had only been sent to a subcommittee—leaving potential legal changes before end-2026. Separately, South Korea is also working on broader digital-asset and stablecoin regulation, including interim stablecoin licensing guidance while the Digital Asset Basic Act is negotiated. For traders, the South Korea crypto tax—especially the 22% rate and potential limits on loss offsets—could raise the after-tax cost of trading and influence positioning ahead of 2027.

US senators Thom Tillis and Ruben Gallego have reportedly sent revised ethics guidelines to the White House as part of ongoing CLARITY Act talks. PunchBowl says their counteroffer would change CLARITY Act ethics enforcement: state authorities could enforce a ban on federal officials issuing or sponsoring tokens, instead of relying on the US Attorney General. Gallego said ethics, consumer protection, illicit finance controls, conflict-of-interest rules and market integrity “must be strengthened,” while signaling continued cooperation with Republicans. Cointelegraph contacted both senators’ teams for clarification but received no immediate response. Politically, Senate Democrats remain hesitant. Several have said they will not vote for the CLARITY Act if it appears to protect President Donald Trump’s dominance in the industry. With Republicans holding a 52–47 majority, cross-party support and at least 60 votes may still be required to move the bill, especially with Mitch McConnell absent. For traders, the near-term watch is whether the CLARITY Act ethics revisions reduce opposition and improve passage odds before the August recess. Any shift in CLARITY Act sentiment could quickly alter risk pricing across major tokens by changing expectations for US crypto regulation.

Anthropic’s Claude Mythos Preview reported a new classical-cryptanalysis attack on HAWK post-quantum signatures, despite the scheme passing two years of expert review. The model reportedly found the break in about 60 hours using roughly $100,000 of compute. The key result: the effective work to break HAWK’s smallest parameter set drops from ~2^64 operations to ~2^38. To defend, HAWK would likely need much larger keys, which largely removes the scheme’s practical advantages (including compact signatures that can reduce blockchain fees and space). For traders, the immediate impact is limited. The research does not target the elliptic-curve signatures used by Bitcoin and Ethereum today, and HAWK is not the scheme Bitcoin is moving to under the quantum-address proposal BIP-360. Broader market relevance: the faster pace of classical attacks aligns with the “migration timeline tightening” argument in BIP-361. Separately, the same work improved attacks on a weakened AES variant relevant to wallet-file encryption, while gains against Poseidon (used in many ZK systems) were under ~10x. Overall, this is a watch-item for post-quantum migration planning rather than a direct short-term catalyst for BTC/ETH security.

Emirates has launched **Crypto.com Pay** for eligible UAE residents to pay for flights on emirates.com and in the Emirates app. At checkout, users choose **Crypto.com Pay**, approve the transaction in the Crypto.com app via a QR-based flow, then receive booking confirmation and an e-ticket. The service is supported through Crypto.com’s Dubai entity and operated under UAE Central Bank regulation via a Stored Value Facilities (**SVF**) licence. Flights are priced and settled in **AED**, so the airline ultimately receives UAE dirhams while customers use crypto funds from their Crypto.com wallet. Emirates frames the rollout as a move toward younger, mobile-first travellers. The article does not list which specific cryptocurrencies are accepted, so availability depends on what users hold in their Crypto.com wallet. For traders, the key takeaway is broader real-world payment distribution rather than crypto becoming an on-chain settlement “currency” for fares. Overall, **Crypto.com Pay** adoption is a near-term positive signal for UAE payments, but it is unlikely to drive major price changes for the broader market by itself.

Morgan Stanley Investment Management (MSIM) started trading two crypto ETPs on NYSE Arca on July 28: the Morgan Stanley Ethereum Trust (MSSE) and the Morgan Stanley Solana Trust (MSOL). Both ETH and SOL staking rewards ETFs charge a low 0.14% fee, positioning them as among the cheapest US-listed options for ETH and SOL. The key design is staking economics: MSIM will not retain any portion of staking rewards. Registration documents show staking targets of 50%–80% of ETH holdings for MSSE and up to 100% of SOL holdings for MSOL. Staking is operationally handled by Figment, Galaxy Blockchain Infrastructure, and Coinbase Canada, while provider service fees are capped at 5%. The structure also references IRS Revenue Procedure 2025-31 safe harbor to support tax treatment for an ETP staking a single PoS asset and distributing rewards, subject to conditions such as third-party custody of private keys, independent staking providers, and SEC disclosure approval. Context for traders: MSIM’s earlier Bitcoin fund, the Morgan Stanley Bitcoin Trust (MSBT), also carries a 0.14% fee and reportedly held over $381M AUM by July 16. New benchmarks cited for prior fee lows were Grayscale’s Mini Ethereum Trust (0.15%) and Franklin Templeton’s SOEZ (0.19%). Trading relevance: tighter ETF fees plus direct ETH/SOL staking rewards distribution could improve yield optics and drive incremental inflows, but downside risks remain from staking mechanics (e.g., validator slashing and lock-ups).

The “Digital Asset Market Clarity Act” is losing momentum in the US Senate. Senate Majority Leader John Thune has effectively shelved the crypto market structure bill until after the August recess, prioritizing nominations and Russia sanctions. Galaxy Research cut the odds of the Digital Asset Market Clarity Act becoming law to 30% from 50% a month earlier. Earlier progress remains: the House passed H.R. 3633 with bipartisan support in 2025, and Senate committees advanced the measure in early 2026. A revised draft adds an ethics provision with a sunset clause for 2029. Support from major Wall Street firms such as BlackRock, Fidelity, and Goldman Sachs is still in place. But key Democrats say the revised package still does not go far enough on ethics enforcement, illicit finance safeguards, and consumer protections. Partisan tension—especially around former President Trump’s digital asset holdings—adds friction. With the Senate calendar crowded, Galaxy expects serious floor action may not happen before September, and passage may be nearly impossible until 2026 without a “last-ditch effort.” For traders, the near-term risk is regulatory uncertainty: SEC vs CFTC jurisdiction, payment stablecoin treatment, and the overall “market structure” framework may remain unsettled. Watch for any Democratic crossover support and any fall floor-timing commitment by Thune; otherwise, traders may need to price in longer “regulatory limbo.”

South Korea’s central bank, the Bank of Korea (BoK), is advancing Project Hangang CBDC Phase 2. The live pilot will involve nine banks and cap institutional deposit-token testing at 500,000 users, with a possible start as early as September if onboarding and development stay on track. Phase 2 expands the April–June 2025 pilot results: BoK estimates about 81,000 wallet creations, but only 42% of users actively spent. The first phase covered roughly 12,000 merchants and logged 114,880 transactions. BoK says Project Hangang CBDC Phase 2 aims to feel more like real banking. Upgrades include biometric fingerprint approvals, person-to-person transfers, automatic top-ups, recurring auto-payments, cash receipt generation, and interest payments. It will also test programmable tokens to deliver government subsidies directly to digital wallets rather than vouchers or checks. Programmable deposit tokens will include spending rules and restrictions to improve oversight and reduce misuse. For crypto traders, this matters because Project Hangang CBDC is pushing a “middle ground” concept between a CBDC and a stablecoin-like tokenized deposits model. While it’s not a direct market token, it reinforces policy momentum toward regulated, programmable money—something that can shape sentiment around tokenized deposits and compliance narratives in the broader crypto ecosystem.

Maritime monitor Kpler says Strait of Hormuz traffic has dropped sharply: only 6 vessels were recorded on Thursday, down 60% from the prior day. The article frames this as a sign that Strait of Hormuz routes are still high-risk, not returning to normal shipping. It links the decline to the ongoing 2026 Strait of Hormuz crisis driven by US-Iran disputes over Persian Gulf maritime security. Additional reporting also points to lower traffic through Bab al-Mandeb, suggesting wider regional instability and elevated energy transit risk. Traders are pricing slower normalization. The probability of Strait of Hormuz traffic returning to normal by late September is falling, with prediction markets showing persistent uncertainty. Key catalysts to watch include any US-Iran de-escalation or ceasefire signals, alongside statements from Iranian President Masoud Pezeshkian and US Secretary of State Marco Rubio. New tanker attacks or further military actions would likely keep downside scenarios dominant. For crypto traders, prolonged Strait of Hormuz disruption can amplify macro risk and reinforce a risk-off bias, which may pressure liquid crypto markets via higher volatility and lower appetite for carry/leveraged exposure.

Gemini Trust Company transferred more than $10 million in Bitcoin to MAGA Inc., a Trump-supporting super PAC. U.S. Federal Election Commission records show two Bitcoin donations on June 19, each above $5 million. For crypto traders, the key context is regulatory timing. In late May 2026, Gemini and the U.S. Commodity Futures Trading Commission (CFTC) jointly asked a New York federal court to vacate the “continuing terms” of a January 2025 consent order. That order included a $5 million civil penalty and a permanent injunction. The motion does not seek repayment of the fine, and the CFTC argued the complaint “should not have been filed” under current enforcement standards. Sen. Elizabeth Warren criticized the move, warning about political influence and CFTC independence, including concerns tied to staffing cuts. As of July 24, the court had not issued a public ruling. Separately, CFTC Chair Michael Selig has said the prior administration “politically targeted” the Winklevoss twins. Net market takeaway: this is not a direct Bitcoin liquidity or derivatives catalyst. The main risk is headline volatility around whether the CFTC’s injunction terms are loosened—something that could shift sentiment toward U.S. exchange enforcement. Traders should focus more on the CFTC case timeline than the political donation amount.

Coinbase says Coinbase Business will let companies accept USDC payments initiated by autonomous AI agents starting July 23, 2026. The service processes per-use transactions through Coinbase Payments and its native x402 support, so businesses can receive, track, reconcile, and cash out agent payments from the same payment account. Eligible idle USDC balances offer rewards, listed at 3.35% APR (region-dependent). On the trading and execution side, Coinbase for Agents adds real-time market views and conditional actions. Agents can stream open orders, monitor order books, and track live price/volume. Users set guardrails that trigger actions like buying, selling, or cancelling when predefined conditions are met. For developers, Coinbase launched a CDP x402 SDK to add agent payment acceptance to APIs, Model Context Protocol (MCP) servers, or web services with minimal code changes. The x402 flow uses HTTP 402 (“Payment Required”) to pass payment instructions, letting an agent sign and send the stablecoin payment and retry with proof of payment. Traders should note the move is ecosystem-focused rather than a direct protocol change for major tokens. If USDC payments see more real-world use tied to AI agent workflows, it could improve USDC utility and liquidity, but Coinbase did not disclose expected transaction volumes. Rollout currently depends on supported regions (US and Singapore). USDC payments and x402 are the key terms to watch as adoption expands.

The US military has confirmed completing its 13th consecutive night of strikes on Iran, Reuters reported. Washington says the operations target Iranian military infrastructure, including command centers and missile sites, as tensions escalate around the Strait of Hormuz. The actions are framed as part of efforts to reduce threats to maritime security, with reports also describing reciprocal strikes against US-allied assets, suggesting a broader conflict footprint. For crypto traders, the key market signal is pricing that points to a higher chance of an “Iran airspace closure.” The implied likelihood has increased over the past week, with traders watching for any official update from Iran’s Civil Aviation Organization that could quickly reprice regional risk. Any US de-escalation signals—such as diplomatic progress or a pause in strikes—could lower the odds of an Iran airspace closure and ease risk sentiment. Overall, Iran airspace closure risk is likely to remain a volatility driver for regional assets and broader crypto sentiment, with headline-dependent swings possible in the near term.

Goldman Sachs CEO David Solomon told Politico he is very supportive of moving the Crypto Clarity Act forward, saying it would improve market structure and support US crypto innovation. The bill, if signed, would classify most crypto assets as non-securities (outside the SEC’s purview) and includes protections for decentralized software developers, plus rules addressing “rewards” on stablecoin balances. For traders, the stablecoin yield provisions are the key battleground. Exchanges have offered USDC rewards around 3%–5% APY, while JPMorgan and banking groups have pushed to narrow or restrict stablecoin interest, arguing it could siphon deposits from traditional lenders. Republicans have circulated updated bill text ahead of a hoped-for Senate vote before the August recess, preserving the core framework but adding contested ethics terms. Goldman’s endorsement may provide a short-term regulatory sentiment tailwind for the Crypto Clarity Act, but the path to passage remains uncertain until stablecoin yield wording and the Senate’s next steps are clarified.