Crypto World
Stripe and Advent offer $53B to acquire PayPal in payments mega-deal
Stripe and private equity firm Advent International have reportedly submitted a joint offer to acquire PayPal for more than $53 billion.
Summary
- Stripe and Advent reportedly offered $60.50 per PayPal share, valuing the payments company above $53 billion.
- The proposed acquisition has $50 billion in bank financing, but PayPal has not responded publicly.
- A deal would combine PayPal’s PYUSD ecosystem with Stripe’s rapidly expanding global stablecoin payment infrastructure network.
The proposed deal would combine two major payments businesses as stablecoins and digital settlement become a larger part of the global financial sector.
Reuters reported that Stripe and Advent offered $60.50 for each PayPal share. The price represents a roughly 28% premium to PayPal’s Tuesday closing price. About $50 billion in bank financing has been committed to support the proposed transaction, according to people familiar with the discussions.
Stripe and Advent seek equal ownership of PayPal
Under the proposal, Stripe and Advent would each hold an equal stake in PayPal rather than dividing the company into separate businesses. The offer was reportedly submitted earlier in July after an initial approach in April.
PayPal, Stripe and Advent declined to comment on the reported talks. Reuters said PayPal had not responded to the latest proposal when the report was published. The sources also warned that there is “no certainty” that discussions will result in a completed transaction.
The reported $53 billion valuation comes after a sharp decline in PayPal’s market value from its 2021 peak. The company has faced stronger competition across checkout, digital wallets and alternative payment methods. New CEO Enrique Lores began restructuring the business after taking over in March.
PayPal is reorganizing around payments and crypto
PayPal reorganized its operations in April into three main units covering checkout, Venmo consumer financial services, and payments and crypto. The company reported first-quarter revenue of $8.35 billion, up 7%, while payment volume increased 8% on a currency-neutral basis to about $464 billion.
Its crypto business includes PayPal USD, or PYUSD, a dollar-backed stablecoin issued by Paxos. PayPal says the token is backed by dollar deposits, U.S. Treasuries and similar cash equivalents and can be exchanged for dollars through its platform.
As previously reported, PYUSD recently expanded natively to Polygon through the network’s Open Money Stack. The integration gives businesses access to stablecoin payments, settlements, fiat conversion and compliance infrastructure through one system.
Stripe has built its own stablecoin infrastructure
A takeover would also bring PayPal’s crypto payment products into a company that has invested heavily in stablecoin infrastructure. Stripe acquired Bridge, a stablecoin platform, in a deal valued at about $1.1 billion, expanding its ability to support digital dollar issuance and payments.
As reported by crypto.news, the Bridge transaction marked one of Stripe’s largest moves into crypto infrastructure. Stripe has since supported stablecoin payment projects across several major technology platforms and blockchain networks.
Stripe was valued at $159 billion in a February employee and shareholder tender offer. That valuation gives the privately held company a larger reported market value than PayPal under the current takeover proposal.
Potential deal arrives as payments companies seek scale
The reported bid comes during wider consolidation across global payments. Companies are seeking greater scale while expanding into cross-border transfers, business payments, artificial intelligence and blockchain settlement.
Stablecoins have become part of that shift. As previously reported, Stripe, PayPal, Visa, Mastercard and other payment companies have expanded their use of blockchain-based dollars for settlement and money transfers.
A completed takeover could place PayPal’s consumer payments network, Venmo and PYUSD alongside Stripe’s merchant infrastructure and stablecoin technology. However, the proposal remains preliminary. PayPal has not publicly accepted the offer, and the parties have not announced a formal acquisition agreement.
The reported bidders are seeking to move discussions forward before the end of July, according to the original report. Any agreement would still face detailed negotiations and likely regulatory review before completion.
US President Donald Trump is set to meet with several senators at the White House on Thursday to discuss progress on the crypto market structure bill.
According to Politico, Senator Bernie Moreno said a group of senators will brief the president on the bill and “its path to success.” Senator Cynthia Lummis will also attend, according to a Senate Republican aide.
“We’ll be talking about the entirety of the bill. I mean, obviously the president’s been very engaged in this bill,” said Moreno. “He’s the one who’s really driven the innovation that I think will pay dividends.”
The meeting comes as lawmakers race to pass the crypto market structure bill, known as the CLARITY Act, before the Senate’s August recess. Many lawmakers see it as the last realistic opportunity to pass the legislation before the midterm elections.
“I’m hoping that we can come up with some agreement by the end of this week,” Senator Thom Tillis, who has been helping work through the CLARITY Act’s unresolved provisions, told Politico.
“I think it’s critical if we’re going to try and get this across the floor before August recess.”
Lawmakers are awaiting a revised draft of the bill.
In an interview with Fox Business on Wednesday, Lummis said a new draft version of the bill will be introduced in the next few days and expects it to be on the Senate floor next week.
Cointelegraph reached out to Senator Lummis for comment.
Prediction market odds on CLARITY Act success
Traders on prediction market Kalshi have put a 79% chance on the CLARITY Act being voted on by the Senate before the August recess, up from 68.8% the previous day.
Related: Three US senators oppose CLARITY Act on ethics grounds with vote expected soon
However, traders remain less optimistic that the CLARITY Act will become law this year.
A $3 million prediction market on Kalshi gives the crypto bill a 36% chance of becoming law in 2026, and a 62% chance of doing so before the end of 2027.
Polymarket traders, meanwhile, have put the chance of the CLARITY Act being signed into law this year at 39%.
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SpaceX (SPCX) shares closed at $135.27 on Wednesday. That sits just above the company’s $135 initial public offering (IPO) price, after an intraday low of $132.28.
The dip marks SPCX’s first close below its IPO price since the stock’s Nasdaq debut on June 12. It also lands weeks before dates that could reshape how the stock trades.
A Shrinking Float Meets an Expanding One
Roughly 95% of SpaceX’s shares remain locked following the IPO. That leaves only about 5% of the company freely tradable. That scarcity helped fuel the stock’s early run past $2.6 trillion in valuation.
That structure starts changing soon. SpaceX will release additional 7% tranches through August and September. A larger release follows third-quarter results later this year. Elon Musk’s 6.4 billion-share stake remains locked separately until June 2027.
Earnings Day Doubles as Unlock Day
Analysts expect SpaceX to report its first quarterly results in the first week of August. The same earnings window also triggers the first scheduled unlock. It frees roughly 20% of previously restricted shares for sale.
A bonus 10% tranche unlocks early if shares trade 30% above the IPO price. That threshold requires five of the ten trading days before the report to close above $175.50. SPCX currently trades well below that mark.
The stock’s Nasdaq-100 inclusion failed to reverse the slide, and shares have already fallen dramatically from their peak. Still, some technical analysts still see a rebound scenario forming with $158 in view.
Whether the August report gives insiders reason to hold or sell into a newly available float remains uncertain. That decision may reveal as much as the earnings numbers themselves.
The post SPCX Stock Struggles Ahead of August Earnings and Share Unlocks appeared first on BeInCrypto.
Crypto World
Crypto Social Activity Just Hit a Multi-Month Low: Why That Could Be Bullish for Bitcoin
Discussion surrounding cryptocurrencies across X, Reddit, Telegram, and other social platforms has dropped to its second-lowest daily level since October 2024. This comes even as Bitcoin continues trading around the mid-$60,000 range.
According to the latest findings by Santiment, while the lack of conversation may appear bearish at first glance, it also reflects weak retail interest, which has often coincided with market turning points.
Crypto Chatter Fades
The current sense of “deadness” across social timelines can feel bearish, but Santiment described this disinterest as one of crypto’s “most underrated forms of FUD,” while adding that when people stop posting, debating, and reacting to every market move, conditions become more favorable for large investors.
The analytics platform said markets can become easier for large investors to influence because fewer retail traders are actively crowding trades during periods of low engagement. “Whales don’t need a euphoric crowd to accumulate,” it explained while adding that some of crypto’s strongest rebounds have formed when retail attention was low, sentiment was exhausted, and markets faced less resistance on the way higher.
Bitcoin continues to face pressure from macroeconomic uncertainty, swings in spot ETF flows, and a cautious risk appetite. According to Santiment, when discussion rates are this low, even a modest change in demand can have a more noticeable effect on prices “than the headline mood suggests.”
While history does not guarantee another rebound, previous market cycles have repeatedly rewarded periods when whales had room to accumulate before retail investors realized the market had already begun to recover.
Macro Risks Remain
Bitcoin briefly touched $65,000 before undergoing a minor pullback. It is currently trading a little above $64,500. Bitunix analyst Dean Chen believes if the crypto asset manages to hold above this level, “it stands a good chance of sustaining this upward momentum.”
The stronger-than-expected CPI reading has lifted near-term market sentiment, but Bitcoin’s next move is still expected to hinge on several macroeconomic developments, Chen said.
These include whether inflation continues to cool even if energy prices rebound, whether the Federal Reserve sticks to its data-driven approach when making policy decisions, and whether changes in Japanese capital flows lead to shifts in global liquidity.
The post Crypto Social Activity Just Hit a Multi-Month Low: Why That Could Be Bullish for Bitcoin appeared first on CryptoPotato.
Summer.fi will wind down operations after a $6.04 million exploit hit its Lazy Summer Protocol on July 6, wiping out the capital the team needed to rebuild.
The five-year-old Decentralized Finance (DeFi) platform said the app will remain live until August 31.
Summer.fi Closes Doors as July 6 Exploit Wipes Out Rebuild Runway
In a blog post, the team tied DeFi’s wider slump to the Stream Finance fallout of October 2025. It described the July exploit as a “devastating moment” for users and the surrounding ecosystem.
BeInCrypto reported losses of roughly $6 million. The attacker manipulated the share price across two of the protocol’s USDC vaults on Ethereum (ETH).
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The damage landed unevenly between the two pools. LazyVault_LowerRisk_USDC (0x98C49e13…EcF17) took a net loss of nearly 5.64 million USDC. LazyVault_HigherRisk_USDC (0xE9cDA459…cB06) lost about 0.40 million USDC.
The team said a meaningful portion of its own capital was held in the affected vaults. That loss removed the runway required to recover.
“After exploring every alternative, we have concluded that ceasing operations is the only viable path forward, even though it gives us great sadness,” the team said.
Despite the shutdown, Summer.fi noted that the Lazy Summer DAO is working to restore withdrawals and redemptions across all vaults, including the two affected by the exploit. Once those processes are complete, full vault functionality will be reinstated through the Summer.fi interface.
Summer.fi joins a growing list of protocols that could not survive a breach. Radiant Capital wound down in June after a $50 million exploit. Step Finance closed in February following a treasury hack. In each case, the exploit proved terminal rather than survivable.
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The post $6 Million Vault Exploit Forces DeFi Platform Summer.fi to Wind Down appeared first on BeInCrypto.
Revolut has received in-principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to expand its crypto-related offerings in the United Arab Emirates. The UK-based financial firm said the regulator’s green light would allow it to provide a range of virtual-asset services to users in the UAE through its app and its Revolut X exchange.
The development comes after the UAE Central Bank approved Revolut’s payment activities. In its Wednesday notice, Revolut stated that VARA granted the company in-principle clearance to operate broker-dealer, management and investment, and exchange services in the UAE, framing the move as a step toward deploying “trusted virtual asset services within a regulated environment.”
Key takeaways
- VARA approval in principle positions Revolut to offer broker-dealer, management and investment, and exchange services for digital assets in the UAE.
- The go-ahead follows UAE Central Bank approval for Revolut’s payment activities, signaling coordination across regulators.
- Revolut expects UAE users to be able to buy, sell, and hold digital assets via the Revolut app and Revolut X.
- The UAE move follows Revolut’s March UK banking license and is part of broader, ongoing expansion plans.
- Separately, Revolut previously said it plans to delist USDT for EEA and Switzerland starting in August under MiCA-linked risk and licensing review.
VARA’s in-principle approval gives Revolut a regulated UAE runway
In a statement shared this week, Revolut said VARA’s in-principle authorization would enable it to introduce virtual asset services through its existing user interface while operating under Dubai’s virtual asset licensing framework. The firm did not describe the precise next licensing steps required to fully implement these activities, but it characterized the approval as laying “the foundation” for its rollout within a regulated environment.
For investors and market participants, the significance lies in how rapidly established financial platforms are aligning with UAE’s emerging regulatory architecture. VARA’s approach—granting “in-principle” approvals alongside full licenses—creates a structured path for operators to expand while still meeting regulatory conditions.
VARA maintains a public register of licensed entities. As of the time of publication, the regulator listed 51 companies licensed to offer crypto-related services in the UAE, with 22 entities granted in-principle approval.
Payments first: the Central Bank condition and what it implies
Revolut noted that the VARA decision followed “a green light” from the Central Bank of the UAE for payment-related activities. That sequencing suggests that, at least for Revolut’s roadmap, crypto services are being bundled with—rather than treated as separate from—broader payment and financial compliance processes.
The practical outcome for users is that Revolut’s app-based experience for digital asset transactions can be rolled out with fewer friction points, since the company is addressing payments oversight alongside virtual-asset regulation. It also provides a useful signal for other fintechs: in the UAE, crypto expansion may depend on satisfying cross-regulatory requirements, not only virtual-asset licensing.
Expansion momentum: from UK banking license to pending US and Peru filings
Revolut’s UAE announcement builds on its recent progress in traditional finance licensing. The firm had received a UK banking license in March, according to earlier reporting. Revolut’s stated expansion plans also include similar applications pending for a US banking charter and for licensing in Peru.
From a sector perspective, Revolut’s pattern is telling: it continues to use regulatory milestones in core banking to support downstream products, including digital assets. While crypto access is still heavily shaped by licensing frameworks, the ability to operate within regulated payment and banking environments can matter for settlement flows, custody/handling models, and compliance controls.
UAE approval lands amid shifting crypto product decisions in Europe
Even as Revolut moves forward in the UAE, the company has also signaled adjustments to its crypto offerings elsewhere. Last week, a Revolut spokesperson told Cointelegraph that the firm planned to delist Tether USDt (USDT) starting in August for the European Economic Area and Switzerland.
Revolut linked that decision to a review of its crypto services and risk considerations under the European Union’s Markets in Crypto-Assets (MiCA) framework. MiCA requires crypto-asset service providers to be licensed by July 1, and Revolut’s approach indicates how firms may rework their stablecoin lineup rather than carry all products through the licensing transition.
That contrast—gaining in-principle approval in the UAE while trimming exposure in Europe—highlights a broader reality for crypto platforms: regulatory compliance can drive both expansion and contraction depending on jurisdictional requirements, product classifications, and risk assessment outcomes.
What to watch next
Revolut’s UAE in-principle approval is a meaningful step, but users and market observers should watch for the subsequent regulatory milestones needed for full implementation, as well as how the firm’s approach to stablecoins and licensing evolves under MiCA in Europe.
SK Hynix shares dropped 10.95% in Seoul on July 16, reversing the previous session’s rally. A broader Asian chip selloff also dragged the KOSPI into its 37th sidecar of 2026.
Samsung Electronics fell 7.33% in the same session. The KOSPI opened at 6,960.50, down 4.45%, and losses deepened to an early morning low of 6,753.
SK Hynix Leads the Asian Chip Selloff
SK Hynix fell to a low of 1.823 million won, wiping out most of an 8% rally from the prior session. The stock had already logged its steepest one-day drop on Monday, as investors booked profits on AI-spending concerns.
Other Korean chip names slid alongside it. Seoul Semiconductor lost more than 5%, Samsung SDI fell over 2%, and LG Innotek dropped about 1%.
The weakness spread across Japan too. Advantest fell more than 6%, SoftBank Group slid nearly 7%, Tokyo Electron lost over 5%, and Renesas Electronics dropped 4%.
The region tracked an overnight slump on Wall Street. Micron Technology fell 7.94%, Marvell Technology dropped 7.27%, and Intel declined 4.43%. AMD and Lam Research each fell about 3%.
KOSPI’s 37th Sidecar Fires Again
The Korea Exchange triggered a sell-side sidecar at 9:10 a.m., the year’s 19th. KOSPI 200 futures had already fallen 5.22% to 1,104.40 points.
A sell-side sidecar suspends program sell orders for five minutes. It triggers whenever futures drop 5% or more for at least a minute.
By 9:21 a.m., the cash KOSPI had dropped to 6,886.48, a decline of 5.46%. Sidecars, both buy and sell combined, have now fired 37 times this year, including another KOSPI trading halt at the beginning of July.
The reversal came fast. Buy-side sidecars had fired on both the KOSPI and KOSDAQ just one day earlier. Foreign investors net-bought 2.33 trillion won of KOSPI shares, briefly pushing the index back above 7,000.
Analysts Flag a Crowded Trade
The selloff came despite strong earnings from ASML. The Dutch chip-equipment maker raised its full-year sales guidance for a second time this year. It projected revenue of 43 billion euros to 45 billion euros.
Louis Kondratev, a trader at XFUNDs, told CNBC the pullback reflects how crowded the AI-driven semiconductor trade has become.
“Semiconductors alone now make up roughly 20% of the S&P 500, which is incredibly difficult to sustain.”
— Louis Kondratev, trader at XFUNDs, CNBC
He added that valuations may struggle to hold at current levels even if earnings stay strong.
“Earnings momentum has been very strong, but it’s mostly concentrated in semiconductors, and that momentum may begin to slow as valuations find their place.”
— Louis Kondratev, trader at XFUNDs, CNBC
Regulators are also watching the volatility. South Korean officials met Thursday to discuss leveraged ETF products tied to single stocks, reviewing their growing market impact.
Whether this marks a one-day reversal or a deeper correction may depend on the earnings ahead.
The post SK Hynix Drops Near 11% as KOSPI Hits 37th Sidecar of 2026 appeared first on BeInCrypto.
The Bank of Korea raised its benchmark rate to 2.75% on Thursday, marking its first increase since January 2023 as consumer inflation climbed to a three-year high.
The decision lands as South Korea’s stock market swings violently, with chipmakers SK Hynix and Samsung Electronics leading steep losses on Thursday.
Inflation Forces the BOK’s Hand
Governor Shin Hyun Song, who took office in April, has previously signaled higher rates. On Thursday, the nation’s central bank raised its benchmark rate 25 basis points. The decision matched the forecast in a Reuters poll of economists.
Rising inflation and a weak won drove the move. Headline inflation in Korea reached 3.2% in June, the highest since 2023. The central bank flagged that large IT-sector performance bonuses could feed broader wage gains. That would add pressure on prices.
Meanwhile, the won has weakened 2.93% against the dollar this year. It slid to 1,561.5 on June 5, its weakest level in 17 years.
Despite currency pressure, the economy has benefited from demand for AI infrastructure. Gross domestic product grew 1.8% in the first quarter.
That marked the fastest quarterly pace in more than five years. The strong data prompted the government to lift its 2026 forecast to a five-year high of 3.0%
Meanwhile, the hike is not an outlier. The European Central Bank lifted rates to 2.25% in June. The Bank of Japan raised its rate to 1.00%, its highest since 1995. A Middle East oil shock is reviving inflation across major economies.
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How the Bank of Korea’s Rate Hike Could Impact Stocks and Crypto
The decision also carries weight for crypto and stocks. South Korea ranks among the most active digital-asset markets, with heavy retail participation via exchanges such as Upbit. Rising domestic borrowing costs tend to compress the capital available for speculative assets.
Stocks may also face additional pressure. South Korea’s equity market has already seen sharp swings this year, driven by volatile sentiment around AI and semiconductor stocks.
Higher interest rates could further weigh on the market by tightening financial conditions and prompting investors to rotate away from high-growth technology shares.
The KOSPI fell nearly 6.0% to 6,852 on Thursday, extending its monthly losses. AI chipmaker SK Hynix plunged 11.05% to 1,852,000 won after a 15% decline earlier in the week, while Samsung Electronics fell more than 3%.
The path ahead also matters beyond Thursday’s move. Most economists expect one more hike to 3.00% by year-end. Whether higher rates keep retail investors on the sidelines or redirect capital between stocks and cryptocurrencies remains an open question.
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The post Inflation at 3.2% Pushes Bank of Korea Into First Hike Since 2023 appeared first on BeInCrypto.
Base creator Jesse Pollak says he is stepping back from running the Base App after acknowledging what he called a “wrong bet” on the role social products would play in the network’s growth. In a Wednesday post on X, Pollak argued that Base’s push toward creator and content tooling failed to deliver the traction needed in areas that markets now reward more strongly—particularly trading activity.
Pollak said Base has since been behind “scaled competitors” in key financial categories, even as it continued to promote prediction markets and perpetuals. He also indicated he will return leadership of the Base App to Coinbase under Jordan Fish (known on X as “Cobie”) while focusing on Base’s underlying blockchain.
Key takeaways
- Jesse Pollak is stepping back from leadership of the Base App, citing a “wrong bet” on social-led adoption.
- Pollak says Base fell behind in prediction markets and perpetuals versus larger competitors, despite having native options.
- Dune Analytics data cited by Pollak shows Base-native prediction market Limitless represented just 0.5% of total monthly prediction-market notional volume in July.
- DefiLlama rankings cited in the post place Base perpetual DEX Avantis at 18th by reported 30-day notional trading volume.
- Coinbase CEO Brian Armstrong previously acknowledged that “content coins” “didn’t work,” aligning with Base’s earlier shift away from social incentives.
Pollak’s admission: social momentum didn’t translate into market leadership
Pollak’s message frames the Base App leadership change as a course correction. He said he had expected creator, content, and messaging applications to drive adoption, but instead the market “disintegrated completely.” While the exact scope of that “disintegration” wasn’t detailed, Pollak specifically pointed to performance gaps in trading-heavy segments.
He highlighted that Base has perps (citing Avantis) and prediction markets (citing Limitless), yet both were “well behind” competitors that have scaled further. This is a notable change in tone from an earlier strategy that positioned Base around social primitives and engagement—an angle Pollak says ultimately didn’t produce the kind of durable demand Base needed.
What the on-chain data suggests about Base’s prediction and perps
To support his argument, Pollak pointed to analytics and ranking sources. According to Dune Analytics data he shared, Limitless accounted for 0.5% of total monthly notional volume across prediction markets in July. The implication is that while Limitless exists as a Base-native option, it has not yet achieved comparable share versus alternative venues that dominate prediction-market activity.
On perpetual trading, Pollak referenced DefiLlama data to claim that Avantis ranked 18th by reported 30-day notional trading volume. Put differently, Base’s derivatives presence appears smaller in relative terms than top competitors, reinforcing Pollak’s point that Base’s financial products were not matched by the scale the broader market expects.
For investors and builders tracking L2 competition, this matters because activity in prediction markets and perpetuals is often a proxy for “real” economic usage: liquidity depth, trading frequency, and the composability of DeFi interfaces. Base’s social push may have generated engagement in some form, but Pollak’s own framing suggests the network is now prioritizing where it can win measurable market share.
Base’s earlier pivot away from social incentives
Pollak’s post arrives in the context of changes Base and Coinbase discussed earlier in the year. The article notes that Coinbase CEO Brian Armstrong acknowledged content coins “didn’t work,” and said, “We messed up, time to turn the page,” on Monday. While Armstrong’s comments were broader than just Base App operations, they echo the same underlying theme: strategies built around content-driven incentives did not produce sustained results.
In February, Base sunset its Creator Rewards program and the Farcaster-powered social feed as part of a broader strategic shift toward tradable assets. Pollak previously described the Base App as an “imperfect Farcaster client,” and the Creator Rewards initiative—launched in July 2025—was designed to turn social activity and engagement into earnings.
With Pollak now stepping back from the Base App leadership role, the latest move reads less like a surprise and more like the next step in a process: a social-first direction was tried, incentive mechanics were adjusted or removed, and Base increasingly framed its growth around finance and trading primitives.
Focus on global finance, stablecoins, and AI-agent tooling
In his Wednesday post, Pollak said he intends to continue focusing on the Base blockchain while handing Base App leadership back to Coinbase under Jordan Fish. That division of responsibilities signals a longer-term bet on the chain’s core infrastructure rather than on a single consumer interface.
Recent Base product work referenced in the source supports that direction. Last week, Base activated its B20 token standard on mainnet, described as introducing a native framework for stablecoins, tokenized real-world assets (RWAs), and other fungible tokens. In May, Base launched Base MCP (Model Context Protocol), which allows users to manage crypto directly from an AI model’s chat interface and interact with protocols including Morpho, Moonwell, Uniswap, Aerodrome, Avantis, Bankr, and Virtuals. Earlier in April, Base also pointed to system upgrades aimed at preparing for an AI agent economy, tied to a 2026 roadmap emphasizing stablecoins, prediction markets, and RWA tokenization.
Pollak summarized the intent behind these efforts by saying Base aims to become the blockchain for global finance and the place where the world’s money settles over the next century. Whether that ambition translates into competitive leadership will likely hinge on the same metrics Pollak cited: whether Base’s financial venues can pull liquidity and trading volume at scale, not just whether new standards and agent tooling ship.
Readers should watch how Base responds to the quantified gaps Pollak highlighted—particularly whether Limitless and Avantis can improve their share of prediction and perp volume—and whether Base App leadership changes under Coinbase translate into a clearer, more measurable product strategy.
Arthur Hayes bought 1,293 ETH ($2.48 million) on Wednesday, July 15, after receiving 646 ETH ($1.24 million) from Galaxy Digital soon before, on-chain data shows. The moves mark a reversal weeks after he sold 6,000 ETH at a loss.
The reversal also adds to a string of controversial trades this year. Hayes has built a reputation for making bold, high-profile calls on tokens like SYN, HYPE, ZEC, NEAR, and WLD, only to exit or reverse several of them shortly after, drawing scrutiny over his pattern of buying loud and selling quiet.
Two ETH Buys in One Day
Hayes first sent $1.25 million USDC to prime broker FalconX first. Minutes later, Galaxy Digital sent 646.33 ETH ($1.24M) to his wallet, a pattern Onchain Lens flagged as a likely over-the-counter trade.
Not long later, Hayes was seen purchasing 1,293 ETH ($2.48M) which brings his single-day buy total above 1,900 ETH.
Ether trades near $1,920 at publication, up 2.79% over the past day, according to BeInCrypto’s Ethereum price tracker. Ethereum’s market capitalization stands near $231 billion, still ranking second among all cryptocurrencies.
A Track Record of Reversals
The buying spree marks a sharp reversal. Hayes sold 6,000 ETH at an estimated $606,000 loss in late June, just weeks after building that position. Around the same time, he exited Worldcoin, Zcash, NEAR, and Hyperliquid, citing energy prices, AI-linked IPOs, and political uncertainty as risks to crypto markets.
Hayes also bought $2.2 million worth of Synapse’s SYN token in late June. SYN has since fallen more than 55%, leaving Hayes roughly 28% underwater on a $610,000 unrealized loss.
He has fared better on Bitcoin. His $40,000 bottom prediction from June found an echo weeks later, when a major Chinese mining firm projected a similar floor citing him.
Whether this ETH buy fares better than his SYN trade, or matches Ethereum’s broader July setup, will show in the coming weeks.
The post Arthur Hayes Buys Back Into Ethereum Weeks After Selling 6,000 ETH at a Loss appeared first on BeInCrypto.
The White House shared a nine-second video promoting a new Trump Coin on July 16, but it wasn’t the cryptocurrency. Treasury Secretary Scott Bessent unveiled a $1 gold-finish coin honoring President Trump for America’s 250th anniversary.
The announcement caused brief confusion online, since the physical coin shares its name with the TRUMP memecoin. That token traded near $1.56 shortly after the video circulated on X.
Coin Marks America’s 250th Anniversary
The US Mint’s new coin has a gold-like finish, though non-precious metals make up its composition, the Treasury Department said. Workers are minting it in Philadelphia and plan to release it this fall.
“As America commemorates 250 years of independence, the @usmint will begin striking this new $1 gold coin to honor the enduring legacy of liberty and a lasting symbol of patriotism.”
— Bessent
Federal law generally bars living presidents from appearing on US currency. However, a 2020 law permitting anniversary-themed designs allowed this release. The Commission of Fine Arts, whose members Trump appointed, approved the design in March.
It follows other Trump-branded currency efforts, including a proposed $250 bill and passports bearing his likeness.
TRUMP Token Slips Near $1.56
The confusion coincided with a dip in the TRUMP memecoin, which dipped toaround $1.56 from $1.59, according to CoinGecko. The token remains more than 97% below its January 2025 all-time high near $73.
Some replies beneath the White House X post asked whether the coin carried the same scam concerns as the crypto token.
$TRUMP has struggled for months. Scheduled token unlocks and a wave of retail losses have weighed it down, according to blockchain analytics firm Nansen.
Whether the physical coin briefly rattled crypto traders or the dip simply reflects the token’s broader decline remains unclear. Either way, the two Trump-branded assets now share more than just a name.
The post White House Posts ‘TRUMP COIN,’ But Not the Crypto. $TRUMP Dips appeared first on BeInCrypto.
Analysis-China’s record consumer defaults undermine Beijing’s push to boost spending
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