Binance will delist NKN/BTC and STX/BNB spot trading pairs on August 8, 2024, at 03:00 UTC. This delisting follows its routine review process, likely driven by low volumes, project performance or compliance factors. Traders should cancel open orders and convert NKN or STX to other pairs or withdraw to external wallets before the deadline. After cutoff, trading and withdrawals for these pairs will be suspended, risking asset lock-up. Delisting may trigger short-term selling pressure on NKN and STX and reduce liquidity. Adjust your positions, diversify holdings and monitor official Binance channels for updates.
Upbit will list the PROVE token on August 6, 2024 at 06:00 UTC, adding three spot trading pairs: PROVE/KRW, PROVE/BTC and PROVE/USDT. PROVE is the native utility token of the Succinct network, an interoperability platform for secure cross-chain communication and asset transfers. This PROVE token listing aims to boost liquidity, diversify trading strategies and expand access for Korean traders. Major exchange listings often drive token visibility, market validation and trading volume. Traders should watch for potential price movements and increased activity after the PROVE token listing, while long-term performance will depend on project developments and broader market trends.
Animoca Brands has formed a strategic partnership with AMGI Studios, acquiring KARRAT tokens on the open market to back Studio Chain, a layer-2 blockchain for the My Pet Hooligan game. Animoca will apply its expertise in tokenomics, liquidity provision and market strategy. The deal spurred a 37% surge in the KARRAT token price within 24 hours. Studio Chain promises higher scalability, lower transaction costs and faster processing. The KARRAT token will serve as both in-game utility and decentralized governance, allowing holders to unlock exclusive content and vote on protocol upgrades. This collaboration addresses blockchain gaming infrastructure bottlenecks and is poised to boost Web3 gaming adoption, foster new economic models and strengthen the decentralized entertainment ecosystem.
Flow Traders has received a direct allocation of 2.5 million PROVE tokens, representing 1.28% of the circulating supply, from the PROVE project team. As the designated market maker, the firm distributed these tokens across major exchanges—including Binance, Gate, KuCoin, and Bitvavo—to inject deep liquidity for the PROVE token’s trading debut. This strategic liquidity provision narrows bid-ask spreads, reduces price volatility, and boosts trading volume. Backing Binance’s new PROVE token enhances market credibility and investor confidence. The move underscores the critical role of institutional participants and professional market makers in new token launches. Traders can expect smoother execution, greater token accessibility, and improved market resilience as ongoing liquidity management drives the PROVE token’s adoption and growth.
The SEC issued guidance clarifying that, under specific conditions, liquid staking tokens (LSTs) and their receipt tokens do not constitute securities. This regulatory clarity removes registration barriers and enables institutions to integrate liquid staking tokens into financial products. Industry leaders, including Alluvial’s CEO Mara Schmiedt and Jito Labs’ CEO Lucas Bruder, praised the decision for opening new revenue streams, secondary markets and enhancing DeFi liquidity. The guidance relies on the Howey test to deem purely administrative LST activities as non-securities. Commissioner Caroline Crenshaw dissented, warning of remaining regulatory uncertainty. The move is expected to boost institutional adoption and expand retail access to staking rewards without lock-ups.
Binance CEO Changpeng Zhao has filed a motion in the Delaware Bankruptcy Court to dismiss the $1.76B FTX lawsuit filed by the FTX Trust over a 2021 share repurchase agreement. The FTX lawsuit alleges improper transfers from Sam Bankman-Fried to Binance. Zhao argues he is a UAE resident outside U.S. jurisdiction, that U.S. bankruptcy law has no extraterritorial reach, and that service of process was improper. Two former Binance executives made similar motions in July. This challenge from the Binance CEO will test cross-border jurisdictional limits in crypto litigation and could shape future clawback efforts, regulatory guidelines, and recovery processes in digital asset bankruptcies.
SEC Commissioner Caroline Crenshaw sharply criticized the SEC’s Division of Corporate Finance staff on its new liquid staking guidance. She argued the liquid staking guidance lacks clarity and relies on unrealistic assumptions that deviate from real-world staking practices. The statement declares liquid staking non-securities transactions and exempts firms from registration under securities laws, echoing the Trump-era Project Crypto approach.
Crenshaw warned that these legal conclusions rest on unsupported facts and apply only if all assumptions hold. She emphasized the guidance is staff-only, nonbinding, and offers limited comfort to crypto firms. Entities whose operations deviate from its narrow scope must proceed with caution.
Her critique underscores ongoing regulatory uncertainty for digital asset businesses. Traders should monitor developments, as ambiguous SEC regulation on liquid staking could dampen market confidence and slow industry growth.
Bitcoin’s returns of 16.85% in H1 2025 have outpaced Berkshire Hathaway’s 3.55% gain and the S&P 500’s 7.51%. While Berkshire posted a $12.3 billion profit in Q2, a $5 billion impairment on Kraft Heinz led to a $4.6 billion equity loss. Berkshire’s $100.49 billion cash reserve, if 5% allocated to Bitcoin at the start of the year, would have generated over $850 million in unrealized gains by August, partly offsetting its losses. Bitcoin also outperformed top Berkshire holdings including Apple (AAPL), American Express (AXP), and Coca-Cola (KO), highlighting the opportunity cost of conservative strategies. Despite Warren Buffett’s dismissal of Bitcoin and lack of crypto allocation under Greg Abel, 2025 has seen rising ETF inflows and institutional adoption, underscoring Bitcoin’s growing role as a portfolio hedge and growth driver.
Litecoin has jumped 12.7% over the past 24 hours to trade near $128, driven by 90% odds of a spot ETF approval and its CFTC commodity classification. Institutional interest has been boosted by Bloomberg’s forecast and MEI Pharma’s addition of $100 million in LTC reserves. Technical indicators confirm a breakout: support now at $110.70, resistance at $131.18, with RSI still below overbought levels and a bullish MACD. Analysts target $144.56 to $150 based on Fibonacci extensions. Merchant adoption is also rising: Litecoin accounted for 14.5% of CoinGate payments in July, and nearly 40% of vendors now hold crypto proceeds, up from 27% in 2024. With ETF momentum and real-world use converging, Litecoin could sustain gains and attract long-term inflows.
Canadian oncology firm MEI Pharma has allocated the majority of its cash reserves to Litecoin, purchasing approximately 700,000 LTC tokens at an average price of $150 per coin. Earlier reports estimated 930,000 LTC, representing about 60% of its treasury. The CFO cited Litecoin’s fast settlement and strong liquidity as key benefits for corporate crypto treasury management.
This move aligns with a broader trend of nonfinancial public companies diversifying away from fiat, following MicroStrategy’s Bitcoin strategy. After MEI Pharma’s announcement, LTC price jumped 7%, reflecting positive market sentiment. Traders should watch for changes in Litecoin’s market liquidity and price volatility as institutional adoption grows.
MEI Pharma plans regular disclosures of its crypto holdings and may expand into other digital assets. Increased corporate treasury allocation to Litecoin could boost LTC’s trading volume and market capitalization over the long term.
On August 5, SUI price fell nearly 5% after a $162 million token unlock amplified selling pressure. The decline outpaced a 1.6% broader market drop as Bitcoin dominance rose to 61.4%, prompting capital rotation into safer assets. Month-to-date, SUI price has plunged over 20%, erasing $3 billion in market value. Trading volume slid 6.8% to $1.15 billion while Bitcoin volume jumped 8.2%, underscoring waning risk appetite. Despite solid fundamentals—total value locked near $2 billion and strong network activity—and growing institutional support from AMINA Bank’s custody services and Mill City Ventures’ $450 million SUI treasury, macro uncertainty and supply shocks are clouding SUI’s short-term outlook.
Bearish
SUIBitcoin DominanceToken UnlockAltcoin VolatilityInstitutional Support
Solana Seeker phone has begun shipping to over 50 countries after securing more than 150,000 preorders. The device integrates over 2,500 decentralized apps via the Solana dApp Store 2.0, features a built-in Solflare wallet, a secure Seed Vault and a Genesis NFT for exclusive airdrops, and bypasses high fees from Apple and Google. Priced between $450 and $500, the smartphone could generate at least $67.5 million in revenue and strengthen mobile Web3 adoption ahead of the SKR incentive token launch. Following the August 4 announcement, SOL price jumped 6% month-to-date to around $169 and rose 1.5% in 24 hours. Technical indicators show SOL holding support at the 0.382 Fibonacci level near $157.70, an RSI of 58.6 and a bullish Parabolic SAR despite $9.8 million in net outflows. Key resistances lie at $171.12 and $207, with breakout targets at $180–185 and $290. Long-term bulls now forecast SOL could challenge $1,000, backed by potential Solana spot ETF approval in October and ecosystem growth from projects like TROLL and the Snorter trading bot.
Galaxy Digital boosted its Bitcoin holdings by 4,272 BTC in Q2, raising its total to 17,102 BTC (worth $1.8 billion). The firm’s equity investments in public and private blockchain firms climbed to $2.6 billion. It also rebalanced crypto assets: trimming Ethereum to 90,521 ETH and XRP to 15.4 million tokens, while adding Solana (SOL) and SUI. Net digital asset holdings jumped 40% quarter-on-quarter to $1.2 billion. Its Digital Assets arm delivered $71 million in gross profit, and Global Markets profit rose 28% to $55 million. Infrastructure assets grew 27% to $8.9 billion, with staked assets up 34%. Treasury & Corporate generated $228 million, leading to $211 million in adjusted EBITDA and $30.7 million net income. Debuting on Nasdaq in May, Galaxy plans to tokenize its stock. CEO Michael Novogratz said these moves reflect long-term confidence in crypto growth. For crypto traders, this signals bullish prospects for Bitcoin trading and blockchain equities.
British engineer James Howells has abandoned plans to excavate a Newport landfill to recover 8,000 lost BTC and instead launched a new DeFi token on a Bitcoin layer-2 network. The DeFi token supply mirrors the original wallet balance, symbolically locking the coins in an immutable vault, but holders have no claim to the underlying funds. After UK courts denied excavation permits and prior token funding stalled, Howells leverages narrative value over practical recovery. Critics label the project a memecoin due to low claim validity. Howells also sold adaptation rights for the docuseries “The Buried Bitcoin.” This move underscores innovation in tokenization and self-custody risks in decentralized finance.
Phantom Wallet has acquired Solsniper, an AI-driven Solana memecoin sniper tool that tracks token launches and whale wallets in real time. The acquisition follows Phantom Wallet’s $150 million Series C round valuing the platform at $3 billion and comes on the heels of its February purchase of NFT data provider SimpleHash. Solsniper will operate independently, with the team led by crypto veteran @0xmaz_ set to roll out optimized features and new trading products over the coming months. By integrating Solsniper, Phantom Wallet aims to transform its wallet into an all-in-one crypto trading hub, delivering ultra-fast, precise transactions on Solana’s low-fee, high-speed network. This move underscores the robustness of the Solana memecoin market, where platforms like Pump.fun surpassed $3 billion in daily trading volume earlier this year, solidifying Phantom Wallet’s position in the memecoin sector.
Digital asset investment products saw $223 million in net outflows in the week to August 2, ending a 14-week inflow streak. Bitcoin bore the brunt, with $404 million pulled from BTC products after a hawkish Fed policy warning sparked a 9.5% drop in crypto market cap. Ethereum bucked the trend, logging its 15th consecutive week of inflows at $133.9 million as traders shifted toward ETH ahead of network upgrades.
Smaller tokens also saw mixed flows. Solana (SOL), XRP and Cardano (ADA) attracted a combined $41 million, while Sui (SUI) and Litecoin (LTC) each faced modest $1 million outflows. Institutional crypto ETFs diverged: BlackRock’s spot Bitcoin and Ethereum ETFs drew $355.3 million and $394.2 million, even as other investors sold $323 million in BTC spot products in a single day.
Despite the short-term bearish pressure on Bitcoin, total assets under management held steady at $215 billion. The data suggest the pullback may be a temporary correction rather than a sustained reversal in the digital asset market.
Coinbase International has listed Succinct (PROVE) perpetual futures, trading on the PROVE-PERP market starting at 7PM UTC. This PROVE perpetual futures contract offers 24/7 leveraged exposure and hedging capabilities, leveraging ZK-proofs for blockchain scalability and privacy. The listing on Coinbase Perp enhances liquidity and provides a regulated venue attracting both retail and institutional traders. While PROVE perpetual futures enable high leverage and continuous trading, they carry amplified loss and liquidation risks amid market volatility. Traders are advised to start with small positions, apply strict risk management including stop-loss orders, and stay informed on PROVE’s on-chain developments and market trends to manage exposure and capitalize on potential price movements.
Franklin Templeton’s 4.5% tokenized money market fund has launched on BounceBit Prime, bringing $692 million in on-chain U.S. government assets to traders. Launched in 2021, the tokenized money market fund issues the BENJI token and runs on Ethereum, Solana, Stellar, Avalanche and VeChain, with Anchorage Digital Bank providing institutional-grade collateral.
On BounceBit Prime, traders can use the fund for collateral, settlement and new DeFi yield strategies. The integration improves capital efficiency through programmable governance. It follows similar real-world asset tokenization initiatives by BlackRock and Fidelity and paves the way for tokenized stocks. As more RWAs migrate on-chain, crypto traders can expect expanding yield opportunities across exchanges and regions.
UK police net $665,000 from the 2017 Bitcoin seizure under the Proceeds of Crime Act. When Bitcoin neared $20,000, officers froze the stolen wallets and reimbursed the victim for the original £500,000 loss.
The Bitcoin seizure generated a £1 million surplus. Half of this sum will fund a crime prevention budget. The fund supports drone purchases, spam-blocking technology, and local antisocial behavior projects. The remaining surplus returns to the government.
This case highlights how the Proceeds of Crime Act enforces asset forfeiture for digital crimes. Traders should note that a clear legal framework for seized crypto sets a vital precedent and could influence future crypto regulations.
Bitcoin faced fresh selling pressure near $115,000, pulling back to key support around $112,000. US spot Bitcoin ETFs recorded a net outflow of $323.5 million, while Ethereum ETFs saw $465 million withdrawn. Despite this, corporate treasuries added over 600 BTC on dips, and on-chain whale purchases supported ETH. In response to Bitcoin’s consolidation, select altcoins are preparing potential rallies. Litecoin (LTC) bounced off $107 and now trades near $122; a breach of $130 could target $140. Cronos (CRO) reclaimed its 20-day SMA at $0.13, eyeing $0.15, $0.17 and $0.19. Ethena (ENA) held the 20-day SMA at $0.54, with upside levels at $0.70, $0.82 and $0.96. Mantle (MNT) formed an inverse head-and-shoulders pattern; a sustained move above the $0.85 neckline may drive it to $1.06 and $1.15. Traders should watch Bitcoin’s 20- and 50-day moving averages and key altcoin breakout levels for short-term momentum.
President Trump will sign an executive order before August 8, 2025, directing U.S. financial regulators to probe crypto debanking and bank discrimination against digital-asset firms and conservative groups under the Equal Credit Opportunity Act, antitrust, and consumer protection laws. The order targets banks and payment processors that close crypto accounts or refuse services for political reasons or alleged AML risks, imposing penalties ranging from fines to referrals to the Justice Department. By reversing Biden’s Operation Chokepoint 2.0, the measure aims to restore banking access for crypto platforms, improve liquidity, reduce operational risks, and boost market confidence. Traders should view this as a bullish catalyst that could enhance stable banking relationships and support trading activities in the crypto market.
Cango has accelerated its Bitcoin mining operations after divesting its auto financing business, boosting July output to 650.5 BTC, up 44.6% from June. The purchase of $256 million in Bitmain rigs added 32 EH/s, lifting deployed hashrate to 50 EH/s and average operating hashrate to 40.91 EH/s. Cango’s Bitcoin treasury climbed to 4,529.7 BTC (~$512 million), placing it among the top 20 public holders. CEO Paul Yu aims for vertical integration of mining sites and energy infrastructure to support future Bitcoin mining expansion. The pivot underscores Cango’s commitment to digital assets, with shares rallying 158% over the past year despite China’s strict crypto stance. Traders should watch how increased Bitcoin mining capacity may affect network security and BTC supply dynamics.
Succinct has launched its decentralized ZK prover network on Ethereum mainnet, activating the PROVE token to incentivize independent verifiers and secure the system. The PROVE token underpins network payments and security. The network serves as a two-sided marketplace where developers submit zero-knowledge proof requests via an API and providers compete for PROVE rewards. It currently supports over 35 protocols and processes proofs for 1,700 programs, securing more than $4 billion in on-chain assets. To date, it has handled over five million proofs for projects including Polygon (MATIC), Mantle (MNT), Celestia (TIA) and Lido (LDO). Built in eight months from whitepaper to deployment, the ZK prover network simplifies verifiable computation at internet scale. With Ethereum prioritizing zero-knowledge solutions and rollups handling high-volume trading and AI workloads, the ZK prover network is poised to drive broader ZK adoption. Developers can integrate today using Succinct’s APIs (docs.succinct.xyz).
Arkham Intelligence has revealed the largest concealed Bitcoin heist in history after hackers exploited a 32-bit entropy vulnerability in LuBian mining pool’s private key generation to steal 127,426 BTC (then $3.5bn) in December 2020. Two days later, the attacker used the Omni Layer protocol to siphon a further $6m in BTC and USDT. LuBian launched recovery via 1,516 OP_RETURN micro-transactions, reclaiming 11,886 BTC now worth $1.35bn, while the remaining 115,540 BTC have remained dormant. On-chain analysis shows funds sat idle until a major consolidation in July 2024, and the wallet is now the 13th largest on the Bitcoin network. The dormant coins are worth over $14bn today, underlining both the market’s resilience and the potential risk if they ever move. This Bitcoin heist underscores critical mining pool security risks and the importance of robust key generation practices for traders.
Neutral
Bitcoin heistLuBianArkham Intelligencekey vulnerabilitymining pool hack
Bitcoin options traders are increasingly buying put options to hedge against macroeconomic risks, driving the put-call ratio on Deribit to 90%, up from a typical 50% in bullish conditions. Put option skew has reached +7%, the highest in four months, signaling rising demand for downside protection. Meanwhile, the annualized futures premium remains in a neutral 5–10% band at around 7%, suggesting traders are not positioning for a sharp drop below $110,000 despite a recent retest of $112,000 and Bitcoin’s struggle to reclaim $115,500. Elevated US 10-year Treasury yields falling from 4.32% to 4.21% reflect increased risk aversion, spurring hedging strategies amid weak corporate earnings and global trade tensions. Monitoring metrics like the put-call ratio and futures premium can provide insights into evolving market sentiment and Bitcoin’s resilience under external pressures.
OnRe’s yield-bearing asset ONyc is now live as collateral on Kamino, Solana’s top DeFi money market with over $700M TVL. Traders can leverage ONyc for borrowing, lending or looping strategies while earning a 14%+ base yield uncorrelated to crypto volatility. Chainlink’s Onchain NAV solution ensures real-time, tamper-proof pricing for secure collateralization. To accelerate adoption, OnRe and partners have launched a $200K rewards pool for USDG borrows against ONyc, up to $20M in borrowing incentives and a 5× Ethena Points boost on sUSDe deposits from ONyc holders. This integration enhances capital efficiency and introduces a resilient, reinsurance-backed liquid asset into Solana DeFi.
Solana Mobile’s Seeker smartphone has surpassed 150,000 pre-orders across 57 countries, generating about $67.5 million in revenue at a $450–$500 price range. Early shipments have begun, signalling strong demand for the Seeker smartphone. The Android-based device features built-in Seed Vault hardware key storage, a decentralized dApp store with 100+ Web3 apps, and a Genesis Token NFT that grants exclusive project access plus SKR token rewards. Leveraging TEEPIN architecture, the Seeker smartphone ensures cryptographic attestation for secure app distribution. With a 6.36-inch AMOLED display, dual 108 + 32 MP cameras and extended battery life, it is optimized for on-chain interactions. Planned AI and DePIN services could further boost Solana ecosystem utility and SOL token usage.
BitFuFu has set a new record in Bitcoin mining with a quarterly hashrate of 38.6 exahashes per second (EH/s), surpassing its prior peak through expanded mining capacity and efficiency improvements. During the period, BitFuFu deployed next-generation rigs and optimized power utilization to mine 467 BTC, its highest output to date. Management credits hardware upgrades and strategic site expansions for driving these results. The surge in hashrate strengthens Bitcoin network security while potentially exerting mild short-term pressure on BTC supply as miners realize gains. Looking ahead, BitFuFu plans further capacity expansions to sustain this upward momentum in hashrate growth and Bitcoin production.
Coinbase is raising $2 billion in a private convertible debt sale to institutional investors following a Q2 revenue shortfall that sent its shares down 15%. The dual-tranche offering comprises $1 billion in notes due 2029 and $1 billion due 2032, with a $300 million overallotment option. Proceeds will fund capped-call hedges against conversion dilution, stock buybacks, acquisitions, working capital, capital expenditures, new technology investments and potential Bitcoin purchases. Interest rates and conversion terms are pending final pricing. As the world’s third-largest crypto exchange and a top 10 public Bitcoin holder with 11,776 BTC on its balance sheet, Coinbase aims to shore up liquidity amid soft transaction revenue and tightening USDC partnership margins, signaling continued institutional capital flow into digital assets.