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Crypto World

Digital Native Generations May Never Need A Bank Account Here’s Why That Terrifies Banks

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Crypto Breaking News

This isn’t a prediction. It’s already happening in emerging markets. And banks have no idea how to respond.

The Statement Banks Don’t Want You To Read

This week, crypto executives made a claim that should have been front page news:

Digital-native generations may never need a bank account.

Not “might eventually move away from banks.” Not “could reduce their dependence on traditional finance.” May never need one. At all. Ever.

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And the evidence isn’t coming from Silicon Valley futurists or crypto Twitter maximalists. It’s coming from data on the ground in emerging markets, where younger users are already driving crypto adoption at scale—not as speculation, but as their primary financial infrastructure.

This isn’t a prediction about the future. It’s an observation about what’s already happening.

And it terrifies banks.

What “Never Need A Bank Account” Actually Means

Let’s be precise about what we’re talking about.

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A bank account does several things:

  • Stores value safely
  • Enables payments and transfers
  • Provides access to credit
  • Connects you to the broader financial system

For most of human history, a bank was the only institution that could do all of these things reliably. You needed one. Full stop.

But in 2026, every single one of these functions can be performed without a bank:

Store value: Stablecoins, Bitcoin, hardware wallets. No bank required.

Payments and transfers: Crypto rails, stablecoin transfers, peer-to-peer payments. Instant. Global. No bank required.

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Access to credit: DeFi lending protocols. Collateralized loans. No bank required.

Connect to the financial system: If your employer pays in crypto, your vendors accept crypto, and your savings are in crypto, the “financial system” you need to connect to is crypto.

For digital natives growing up in this environment, the bank account isn’t the foundation of their financial life. It’s an optional add-on they might never bother with.

Where It’s Already Happening

This isn’t theoretical. Look at the markets where it’s already real.

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Sub-Saharan Africa: Mobile money (M-Pesa and its successors) already replaced banks for tens of millions of people. The next generation isn’t going from mobile money to banks. They’re going from mobile money to crypto. The bank is being skipped entirely.

Southeast Asia: Philippines, Vietnam, Indonesia—crypto adoption rates among under-30s are among the highest in the world. Not for trading. For remittances, for savings, for daily transactions. The bank account was never the entry point.

Latin America: Argentina, Venezuela, Brazil—in countries with currency instability, young people don’t trust local banks enough to use them as primary savings vehicles. Stablecoins are their savings account. USDC doesn’t devalue at 100% annually. Their local currency does.

Middle East and North Africa: Young, unbanked populations with high smartphone penetration. Crypto-first financial behavior isn’t the exception. For the under-25 demographic in several MENA markets, it’s becoming the norm.

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The pattern is consistent: in markets where banks failed their populations—through hyperinflation, capital controls, exclusion, corruption, or simple inaccessibility—younger generations didn’t wait for the banks to fix themselves. They built financial lives without them.

Why This Generation Is Different

Every generation has been skeptical of banks. What makes digital natives different is that for the first time, the skepticism comes with a working alternative.

Previous generations who distrusted banks had two options: keep cash under the mattress, or use the bank anyway because there was no third option.

Digital natives have a third option that actually works. It’s on their phone. It’s accessible globally. It settles in seconds. It doesn’t require a physical branch, a minimum balance, a credit history, or a government ID in some cases.

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The alternative exists. And it’s better in several measurable ways:

Speed: Crypto transfers settle in minutes or seconds. Bank wires take days.

Access: A crypto wallet requires a smartphone and internet access. A bank account requires documentation, minimum balances, and physical presence in many markets.

Cost: Cross-border crypto transfers cost fractions of a cent. Bank wire fees can be $25–50 plus exchange rate margins.

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Control: You own your crypto wallet. A bank can freeze your account, limit withdrawals, or fail entirely.

Availability: Crypto markets run 24/7/365. Banks close on weekends.

For a generation that grew up with instant everything—instant messaging, instant delivery, instant streaming—waiting three days for a wire transfer to clear isn’t a minor inconvenience. It’s evidence that the system is broken.

What Banks Actually Provide That Crypto Doesn’t

To be fair: banks still offer things crypto doesn’t fully replace.

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Deposit insurance: In most countries, bank deposits are insured by the government up to a certain amount. Your crypto wallet has no equivalent protection.

Consumer protection: Fraudulent bank transactions can often be reversed. A crypto transaction is permanent.

Credit scoring: Banks build credit histories that unlock mortgages, car loans, business financing. Crypto has no equivalent mainstream credit infrastructure yet.

Integration with legacy systems: Payroll, tax systems, government benefits—most of the world’s financial infrastructure still routes through banks.

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These are real limitations. They’re also getting smaller every year.

DeFi credit protocols are building on-chain credit histories. Insurance products for crypto holdings are emerging. Governments in several countries are exploring how to integrate crypto rails with existing payment systems.

The gaps are closing. Not fast enough for banks to relax. Fast enough for a generation that’s comfortable waiting.

Why This Terrifies Banks The Real Reason

The obvious reason banks should be scared: losing customers.

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But that’s not the deep terror.

The deep terror is this: banks’ entire business model is built on the assumption that everyone needs them.

Banks don’t just earn money from fees. They earn money from the float—the money sitting in your account that they lend out at interest while you earn little or nothing. They earn from the data about your spending that they monetize. They earn from the cross-sell: you have a checking account, so we offer you a mortgage, a credit card, an investment account.

All of that depends on you having no alternative.

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The moment a generation exists that has a credible alternative—one that doesn’t need the checking account as the entry point—the entire model starts to unwind.

You can’t cross-sell to someone who never walked in the door.

You can’t earn float on money that’s sitting in a stablecoin wallet.

You can’t build a credit relationship with someone whose financial life lives on-chain.

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This isn’t about one product. It’s about the structural dependency that banking is built on. And digital natives are the first generation that might grow up without that dependency.

The Response Banks Are Getting Wrong

Banks have noticed. They’re responding.

JPMorgan has a blockchain division. Bank of America filed hundreds of crypto patents. Fidelity offers crypto custody. Every major bank has an “innovation lab” with someone whose job title includes “blockchain.”

But the response is almost universally the same: take crypto, put it inside our existing infrastructure, and offer it as a product within our existing customer relationship.

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JPMorgan Crypto. Bank of America Bitcoin ETF access. Fidelity Digital Assets.

These are banks saying: “If you want crypto, get it from us. Stay in our ecosystem. Keep your bank account.”

The problem: digital natives don’t want to get crypto from JPMorgan. They want to skip JPMorgan entirely.

Banks are building products that assume the customer still needs them as the starting point. The entire threat is that they might not be the starting point anymore.

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Offering Bitcoin within a bank app to someone who already has a bank account is not a response to the generation that never opens the bank app in the first place.

What The Next Decade Actually Looks Like

The shift won’t be sudden. It will be generational. Literally.

Today: Digital natives in emerging markets build financial lives on crypto rails. Older generations in developed markets maintain bank accounts. Both coexist.

Five years: The emerging market pattern spreads to developed markets as the infrastructure matures. Crypto-native financial products (lending, insurance, investment) become mainstream enough that bank accounts feel optional, not required.

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Ten years: The generation that never needed a bank account is in their 30s. They’re buying homes, starting businesses, raising families. They’re doing it on financial infrastructure that doesn’t route through a bank. Banks serving this generation have to offer genuinely competitive products—not just crypto wrappers—or lose them entirely.

The question isn’t whether this happens. The data says it’s already happening.

The question is whether banks adapt fast enough. Not by offering crypto products, but by rethinking what value they actually provide in a world where the infrastructure they built is no longer the only option.

The Uncomfortable Truth For Everyone

For banks: Your moat is eroding. Not because crypto is winning, but because the generation that’s growing up has options you didn’t count on.

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For crypto: This is the adoption story you’ve been waiting for. But it’s not coming from the people you were targeting with your ads. It’s coming from the people who never had access to what you were claiming to replace.

For regulators: The unbanked populations you’ve spent decades trying to bring into formal finance are building their own formal finance. The question is whether your regulatory frameworks will include or exclude them.

For digital natives: You may be the first generation with genuine financial sovereignty—the ability to hold, transfer, and grow value without asking permission from an institution. Whether you use that wisely is a different question.

The bank account defined financial participation for a century.

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For the next generation, it might be optional.

And that changes everything.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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MoneyGram’s CEO says blockchain works best when customers don’t know it’s there

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MoneyGram's CEO says blockchain works best when customers don't know it's there

In attempting to modernize and better meet its customers’ needs, MoneyGram has partnered with the Stellar network, which has underpinned many of the company’s blockchain initiatives over the past five years. But the company has also started exploring other ecosystems: while Stellar remains a core partner, MoneyGram has also become a validator on Solana and Tempo. For MoneyGram, the immediate payoff isn’t speculative crypto activity, it’s replacing legacy financial rails.

Today’s cross-border settlement still largely depends on banking hours and weekday processing. Blockchain-based infrastructure, Soohoo argued, enables real-time settlement around the clock, reducing operational costs while improving the customer experience.

“We believe if we do it right, we can achieve all three,” he said, referring to helping customers save time, effort and money. Instant settlement also allows MoneyGram to lower back-office costs, savings the company hopes to eventually pass on through lower prices. Currently, MoneyGram’s fees start at $1.89 and vary depending on what country you send them to.

Soohoo doesn’t believe consumers need to understand the technology powering those improvements. He compared blockchain to the processors inside Apple’s iPhone.

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“I can’t tell you what processor is inside my iPhone,” he said. “I just know it’s faster.” In the same way, he argued, remittance customers care about whether money arrives quickly and reliably, not whether it traveled over a blockchain.

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4 Key Reasons Behind Bitcoin’s (BTC) Rally Above $66K

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July has been historically a positive month for bitcoin and this edition hasn’t disappointed so far. The cryptocurrency began the month on the wrong foot, dipping below $58,000 for the first time in nearly two years, but it rebounded swiftly in the following weeks.

Earlier today, it rocketed past $66,000 for the first time in over a month, gaining over $8,000 since that July 1 low. Here are some of the possible reasons behind it.

Whale and ETF Accumulation

As June was coming to an end and it became known that it would be a highly painful month for the asset with a nosedive of over 20%, we outlined several factors that had to change in July for a price resurgence. One of them was the ETF inflows. The financial vehicles went on a violent eight-week withdrawal-only streak, which was finally snapped a couple of weeks ago.

Moreover, investors continued to pour funds into the ETFs, which ended two weeks in the green in a row for the first time in months. July 20 extended the streak as the funds attracted almost $227 million.

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The second major reason for the price revival is whale behavior. Data shared by CryptoQuant indicated that large market participants holding between 1,000 and 10,000 BTC increased their 60-day net accumulation to roughly 66,700 units, which is close to the recent record seen a month ago.

“This is the cohort’s strongest accumulation reading since February 17, when net accumulation briefly exceeded 106,000 BTC.”

News From the US

The third reason has a more macro scent. It came a week ago when the US CPI numbers for June were announced, showing softer-than-expected inflation rates. BTC rallied immediately after the news went live as lower inflation reduced the pressure on the Fed to hike interest rates. Similar market conditions are regarded as beneficial for risk-on assets like bitcoin.

Last but perhaps most importantly at the moment comes a development on the CLARITY Act. After the odds of approval dropped toward 30% just days ago, reports emerged that the White House had agreed on an ethics package for the key legislation and sent the language to certain Senate republicans for further validation.

Although the details are still scarce, industry experts believe this is a major step in the right direction for the bill, and it increases the chances for a 2026 approval.

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The post 4 Key Reasons Behind Bitcoin’s (BTC) Rally Above $66K appeared first on CryptoPotato.

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Prism Relaunches on New Contract After Exploit Diverted Nearly 40% of Fees

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Prism Relaunches on New Contract After Exploit Diverted Nearly 40% of Fees


Prism, a token that pays a share of trading fees to everyone who holds it, is relaunching on a new Ethereum contract after disclosing that an attacker spent most of July siphoning off nearly 40% of those fees. The original PRISM token, which the project is now abandoning, plunged about 91% in the… Read the full story at The Defiant

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Citi Keeps 10,000 KOSPI Target Despite Market Selloff

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KOSPI Performance on July 21

Citigroup has reaffirmed its KOSPI price target of 10,000, projecting that the recent sell-off in South Korean stocks could soon reverse.

The index has shown notable volatility in 2026, forcing the Korea Exchange to trigger sidecars and circuit breakers across repeated sessions.

Why Citi Sees a Buying Opportunity For KOSPI

The KOSPI has slid into a broader decline since setting a record closing high of 9,114.55 on June 22. Citi remains bullish on a revival. 

The bank’s analysts told clients in a Monday note that the market’s headwinds have peaked. Citi argues that strong economic fundamentals and a market-friendly policy mix can drive the recovery.

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“We think the recent share price pullback of KOSPI equities, led by KR memory suppliers, is more of a technical correction driven by market-wide profit-taking and therefore could represent a potential buying opportunity,” the analysts stated.

Meanwhile, the index posted another red session on Monday, dropping more than 4%. It reversed sharply on Tuesday. The surge tripped a buy-side sidecar at 12:41 p.m., a curb that briefly suspends program buy orders when KOSPI 200 futures rise 5% or more for at least a minute.

The KOSPI closed Tuesday up 3.56% at 6,747.95. From that level, Citi’s 10,000 target implies a 48% gain, and it sits nearly 10% above the previous closing record.

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KOSPI Performance on July 21
KOSPI Performance on July 21. Source: Google Finance

Notably, volatility remains the KOSPI’s defining feature. Volatility on the index has topped 60% this year, almost double Japan’s Nikkei 225 and higher than Bitcoin (BTC).

The turbulence forced the Korea Exchange to trigger circuit breakers seven times through mid-July, up from none in 2025.

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Tuesday’s rebound closed part of the distance Citi flagged. Whether it holds remains to be seen.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

The post Citi Keeps 10,000 KOSPI Target Despite Market Selloff appeared first on BeInCrypto.

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Pi Network (PI) Rises 25% in a Week But Warning Signs Point to Another Possible Pullback

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Pi Network’s PI has emerged as one of the strongest performers in the top-100 crypto ranking over the past week, outpacing countless major digital assets.

However, this rally may prove short-lived and could be followed by another sharp pullback in the near future.

PI Flashes Green

In mid-July, the native token of the controversial crypto project tumbled to a new all-time low of around $0.07, while its market capitalization slipped well below the $1 billion psychological level.

Since then, though, the bulls have stepped in, and now PI trades at around $0.093 (per CoinGecko), representing a roughly 25% increase on a weekly basis.

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The exact catalyst of the resurgence remains unclear since Pi Network’s team has been rather silent over the past few days and has not unveiled any new ecosystem updates. Of course, one potential factor could be the overall revival of the crypto market, where Bitcoin (BTC) crossed $66,000, while Ethereum (ETH) aims to reach $2,000.

Many analysts are now optimistic that PI can post further gains. X user Crypto With Gopal claimed that the asset is printing a “Falling Wedge” after a prolonged downtrend where selling pressure is fading, and the price is “squeezing toward the wedge apex.” They believe this formation often signals that momentum is shifting back to the bulls.

“Buyers are quietly defending support while lower highs continue to compress. A strong breakout above the wedge resistance could spark a sharp relief rally as sidelined buyers step in. If bulls reclaim the trendline with volume, PI could be setting up for a major expansion move. Market sentiment is cautiously turning bullish,” they added.

Prior to that, OxNeena argued that after months of selling pressure, PI has finally shown signs of accumulation. They believe that if buyers step in, this could mark the beginning of a strong trend reversal, with $0.20 and $0.32 set as potential upside targets.

Brace for Potential Drop

PI investors should remain cautious, as previous pumps like this have often been abruptly ended by another major move downward. The prolonged bear market and the concerning condition of the entire crypto sector reinforce those fears.

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Meanwhile, the PI community must take other factors into account, including the upcoming token unlocks. Around 127.5 million coins are set for release in the next 30 days: a development that doesn’t guarantee a price drop but increases selling pressure.

PI Token Unlocks
PI Token Unlocks, Source: piscan.io

X user Travladd told their nearly 500,000 followers on X that PI is “looking cooked,” noting that there is too much supply. “Won’t catch me buying into any relief rally,” they added.

The post Pi Network (PI) Rises 25% in a Week But Warning Signs Point to Another Possible Pullback appeared first on CryptoPotato.

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Spot Bitcoin ETFs Continue Inflow Streak, BTC Crosses $66,000

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Crypto Breaking News

US spot Bitcoin ETFs recorded their fifth consecutive day of inflows, their longest streak since May, as the flagship cryptocurrency crossed $66,000. Strong inflows suggest price action and investor sentiment could be stabilizing after a period of sustained outflows.

Bitcoin (BTC) has regained momentum over the past seven days, reclaiming $65,000 on Monday and extending its gains on Tuesday to surpass $66,000. BTC registered an increase of over 3% in the past 24 hours and is currently trading around $66,158.

Spot Bitcoin ETFs Extend Inflows

Spot Bitcoin ETFs registered their fifth consecutive day of inflows, recording $226.80 million on Monday, the highest single-day inflow since July 6, as institutional demand returned. The ETFs have recorded a total net inflow of $727.3 million over the five-day streak and posted back-to-back positive weeks for the first time since May.

BlackRock’s IBIT recorded the highest inflows on Monday with $116.5 million, followed by ARK Invest’s ARKB with $72.7 million. Fidelity’s FBTC recorded $24.1 million in net inflows, while Bitwise’s BITB added $8.8 million and VanEck’s HODL registered $1.8 million in net inflows. Morgan Stanley’s MSBT recorded inflows of $6.9 million. However, Grayscale’s Bitcoin Trust recorded $45.4 million in outflows. Those outflows were offset by Grayscale’s Mini Bitcoin Trust, which recorded $41.4 million in net inflows.

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Institutional Interest Returning?

Consistent inflows have returned after a period of sustained outflows as institutional investors pulled capital from Bitcoin ETFs. Analysts believe the inflows suggest returning institutional interest in Bitcoin and their preference for ETFs for crypto exposure. However, Simon-Peter Massabni, the head of business development at XS, believes the inflows indicate easing sell-side pressure rather than returning institutional interest and demand. According to Massabni, BTC must break and hold above $65,000 to strengthen the bullish argument.

Richard Galvin, executive chairman of DACM, believes the inflows suggest Bitcoin was beginning to find a bottom. BTC is trading above $66,000, a level it must sustain to convince the market of a sustained uptrend. The flagship cryptocurrency has largely traded between $60,000 and $65,000 in recent weeks amid geopolitical and macroeconomic headwinds.

Damien Loh, CIO at Ericsenz Capital, warned of rising inflation and interest rate hikes if the conflict between the US and Iran continues dragging on. Loh believes this could make institutional investors reluctant to put capital in BTC and other risk assets. However, he added that if the CLARITY Act passes before the August recess, it could provide the catalyst needed to push prices higher.

Strategy Building $3.23 Billion Warchest

Rising ETF inflows come amid Strategy’s efforts to improve its liquidity. The Bitcoin treasury company sold some of its Bitcoin holdings for the first time since June 2022, as it attempts to mitigate the impact of BTC’s recent decline and meet its dividend obligations. BTC is down nearly 50% from its October 2025 high of $126,000, and recently sold $263.5 million in common stock. However, it did not use the proceeds from that sale to purchase additional BTC. Instead, the company used the funds to bolster its dollar reserve.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Robinhood Chain Booming, Bernstein Puts Higher Target on HOOD

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eth logo

Bernstein just raised its price target on Robinhood stock to $160, and the key driver is not crypto trading volume. Instead, the firm sees long-term value in Robinhood’s blockchain infrastructure. Robinhood Wrapped ETH on Robinhood Chain has gained about 2% over the past week, while daily trading volume sits near $44 million. Those numbers suggest the network is attracting steady activity rather than short-lived hype.

Ethereum (ETH)
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Bernstein analysts, led by Gautam Chhugani, lifted their HOOD target from $130 to $160, based on a 2028 EPS estimate of $4.56 and a 35x forward P/E multiple. The firm expects prediction markets, perpetual futures, and Robinhood Chain to generate 18% of total revenue by 2027, rising to 23% in 2028. Prediction markets alone could contribute $1.7 billion by 2028.

Discover: The Best Crypto to Diversify Your Portfolio

Robinhood, The Stock Platform Juggernaut

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Robinhood’s second-quarter earnings arrive on July 29, and Bernstein expects new businesses to soften any slowdown in crypto trading revenue. That fits a growing trend across the market. Investors increasingly reward companies building the rails for digital assets instead of simply benefiting from speculative token rallies. Building the highway often pays better than collecting tolls during rush hour.

Robinhood Chain could also benefit the crypto market beyond its own ecosystem. More Layer 2 infrastructure gives users cheaper transactions and faster settlement while helping Ethereum scale. As more developers deploy applications and liquidity spreads across new networks, on-chain activity becomes easier to access for retail users. Fresh competition rarely hurts innovation, especially in crypto.

Bernstein just raised its price target on Robinhood stock to $160, citing long-term value in the company's blockchain infrastructure.
Robinhood Chain Dex Volume, Defillama

For traders, the takeaway is simple. Robinhood Chain appears to be gaining real usage, and that matters more than any single token’s price action. If network adoption keeps climbing, it could strengthen Ethereum’s ecosystem and encourage more capital to flow into decentralized finance. In crypto, the flashiest coin grabs headlines, but the strongest infrastructure often wins the longest race.

Bridge to Robinhood Chain With The Lowest Fee Using RocketX

LiquidChain Targets Cross-Chain Infrastructure as HOOD Token Tests Lows

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The Robinhood Chain story is a reminder that chain-level infrastructure can capture value before native tokens catch up. That gap is exactly where early-stage infrastructure finds its pitch. Investors rotating out of speculative token exposure are increasingly looking at what’s being built at the execution layer.

LiquidChain is positioning as a Layer 3 infrastructure project with a specific structural thesis: fuse Bitcoin, Ethereum, and Solana liquidity into a single execution environment. The USP is architectural with a Unified Liquidity Layer with Single-Step Execution, Verifiable Settlement, and a Deploy-Once framework that lets developers access all three ecosystems without rebuilding for each chain.

The presale is live at $0.01482 per $LIQUID, with $915K raised to date. As covered in earlier presale reporting, the project is approaching the $1M milestone.

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Research LiquidChain here before sizing any position.

Trade Memecoins like DOGE on Bybit and Get a Chance to Win Our $1,000 USDT Airdrop

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Tether Rethinks XXI’s Bitcoin Treasury Model After Just 7 Months

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Twenty One Capital Among Top 100 Public BTC Treasuries. Source: Bitcoin Treasuries

Twenty One Capital (XXI) CEO Jack Mallers stepped down on Monday, seven months after the company went public. Tether also dropped its plan to merge the Bitcoin treasury firm with Strike, Mallers’ payments company.

The bigger story is the new game plan. Twenty One listed five fresh priorities, and buying more Bitcoin (BTC) is not one of them.

Why Tether Is Rewriting Its Bitcoin Treasury Playbook

Back on April 29, Tether pitched a grand plan. It wanted to fold Twenty One, Strike, and Elektron Energy, a Bitcoin mining firm, into a single Bitcoin platform.

Galaxy Research said the combined group could rival Strategy’s dominance among corporate holders. Now, Jack Mallers is leaving, and has announced his step-down as CEO of Twenty One.

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That vision lasted less than 12 weeks. Strike now stays independent. A deal with Elektron is still possible, but talks are early. There is also a catch. Tether owns majority stakes on both sides, so any deal would face extra review as a related-party transaction.

The timing is no accident. Digital asset treasury (DAT) companies, firms that mainly buy and hold crypto, are under pressure. Bloomberg reported that Bitcoin’s price slump has brought losses and job cuts across the sector.

XXI has felt that pain. The stock listed on the New York Stock Exchange (NYSE) in December after a rocky market debut. It closed Monday at $5.32, down about 43% this year. The company is now worth about $1.85 billion.

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Zagury Takes Over With a Cash Flow Mandate

New CEO Raphael Zagury comes from the money side of the business. He held senior roles at Goldman Sachs, Deutsche Bank, and Merrill Lynch. He later ran finances at OpenCo, once among Brazil’s largest fintech lenders.

His plan reads simply. Buy and build businesses that earn money, and keep the Bitcoin. The company compared its new model to Berkshire Hathaway. It also wants to lend against Bitcoin, so holders can access cash without selling.

“My job is to build the operating company around it, with the discipline, governance, and executional rigor of an institution. I believe our business will perform best when we also focus on the cash flow we generate and the rigor with which we allocate capital, not only by the Bitcoin we hold,” Zagury said in a statement.

Tether saw this coming. It took full control in May by buying SoftBank’s 25% stake. Twenty One still holds 43,514 BTC, second only to Strategy in BitcoinTreasuries.net data. It also keeps its strict Bitcoin-only treasury stance.

Twenty One Capital Among Top 100 Public BTC Treasuries. Source: Bitcoin Treasuries
Twenty One Capital Among Top 100 Public BTC Treasuries. Source: Bitcoin Treasuries

The big question is what happens next. If the second-largest Bitcoin treasury needs more than Bitcoin, others may follow. The Elektron talks should offer the first clue.

The post Tether Rethinks XXI’s Bitcoin Treasury Model After Just 7 Months appeared first on BeInCrypto.

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Twenty One Capital CEO steps down as Tether’s plans to merge three bitcoin firms falls

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Twenty One Capital CEO steps down as Tether's plans to merge three bitcoin firms falls

Tether-controlled Twenty One Capital (XXI) named Raphael Zagury as CEO, replacing Jack Mallers, and dropped Strike from a proposed three-way merger, the companies said.

Mallers stepped down effective July 20 to focus on Strike, the bitcoin payments firm he founded. Strike will remain independent and is no longer being considered for a business combination with Twenty One, according to a press release.

Tether, Twenty One’s controlling shareholder, confirmed the changes in a separate announcement.

Tether proposed combining Twenty One, Strike and Elektron in April, seeking to place bitcoin treasury, financial services and mining under one listed company.

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Twenty One’s revised strategy will focus on acquiring operating businesses, expanding capital markets capabilities and developing bitcoin-backed lending.

XXI is little changed in pre-market trading.

CoinDesk has reached out to all three companies, but hasn’t heard back at the time of writing.

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Tether-backed Twenty One, Strike merger plan scrapped: Bloomberg

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Tether-backed Twenty One, Strike merger plan scrapped: Bloomberg

Tether-backed Twenty One, Strike merger plan scrapped: Bloomberg

Strike will remain a standalone company after the proposed three-way merger was scrapped, while Twenty One Capital and Elektron continue discussions, Bloomberg reported.

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