The controversy centered on Rentech, a little-known intermediary that appeared in contracts connected to Chinese market maker Web3Port. According to documents obtained by CoinDesk, Movement executives later questioned whether the foundation believed Rentech was affiliated with Web3Port when it was not. Rentech has denied any wrongdoing or misrepresentation.

The fallout extended beyond Movement. Binance banned the market-making account involved in the token launch for what it described as misconduct, while Movement launched a token buyback program and hired outside firm Groom Lake to review the events surrounding the deal.

Movement Labs and co-founder Rushi Manche separated in May 2025.

More recently, the company attempted to chart a new course.

In June, Movement announced it would pivot away from competing with other Ethereum scaling networks and instead focus on cross-border payments, remittances and stablecoin settlement. The company said it had secured access to licensed payment infrastructure in the U.S., Canada and the European Union as it sought to build services aimed at emerging markets.

The strategy reflected a wider trend across the crowded layer-2 sector, where blockchain projects have increasingly shifted toward real-world financial applications as competition among scaling networks has intensified.

It remains unclear how the Chapter 11 filing will affect Movement’s blockchain network, its partnerships or plans to expand its payments business. Chapter 11 bankruptcy allows companies to continue operating while restructuring their debts under court supervision.

The White House agreed to provisions in a crypto market structure bill that could ensure support from some Democratic lawmakers in the US Senate.

According to a Tuesday Punchbowl report, White House officials met with Republican Senators Cynthia Lummis and Bernie Moreno to reach an agreement on ethics language in the Digital Asset Market Clarity (CLARITY) Act under consideration in the Senate.

Neither Lummis nor Moreno have publicly announced the details of the deal, which could facilitate Democratic support in what is expected to be a tight Senate vote, but the report suggested that it could affect US President Donald Trump’s crypto investments.

Event contract on chances of CLARITY Act being signed into law in 2026.
Source: Polymarket

The CLARITY Act, passed by the House of Representatives in July 2025 as part of Republicans’ “Crypto Week” agenda, has faced several delays in Congress due to government shutdowns, concerns from lawmakers over ethics, tokenization and stablecoin rewards and provisions for protecting developers from enforcement actions. Many lawmakers and industry advocates expect the Senate to consider the bill before the chamber breaks for August state work periods, but as of Tuesday, no vote appeared on the congressional calendar and the text of the bill had not been made public.

No certainty for 60-vote threshold

Last week, Trump urged the Senate to pass CLARITY “in honor of” the late Senator Lindsey Graham, whom the president said was “a big supporter” of the bill. Many crypto industry executives and lawmakers have publicly come out in support of the bill, but it’s unclear whether the legislation will pass the 60-vote threshold in the Senate, due to many Democrats’ concerns about potential conflicts of interest with the Trump administration.

Related: Ethics remain sticking point as crypto market structure bill goes to markup

Several Senate Democrats, including Elizabeth Warren, Chris Murphy, Jeff Merkley and Chris Van Hollen said that any CLARITY bill would be “worthless” without ethics provisions to address Trump’s ties to the crypto industry, including his memecoin and his family’s World Liberty Financial business. Cointelegraph requested details on the agreement from Lummis’ office but did not receive an immediate response.

A White House official told Cointelegraph that the administration was “committed to working with Congress to see the CLARITY Act advance and has agreed to the most comprehensive and wide-ranging ethics provision in history,“ adding that it had “bent over backward to accommodate [Democrats’] concerns.“

According to Coinbase vice chair Ryan VanGrack, Democrats have already been able to negotiate to include provisions on customer protection in the Senate bill. However, many lawmakers are calling for hearings to explore Trump’s investments and links to the industry before any potential vote.

Bitcoin price climbs amid CLARITY talks

The price of Bitcoin (BTC) rose above $66,000 early on Tuesday, reaching a seven-week high amid reports of an ethics deal and Trump’s plans to introduce additional 10% international trade tariffs.

“The reason that prices are running upwards are entirely dedicated towards the potential approval of the Clarity Act,“ said Michaël van de Poppe, founder and chief investment officer of MN Fund and MN Capital, in a Tuesday X post. “Things are brighter and brighter, and as the charts technically look incredible from here, it looks likely that we’ll see the Clarity Act being approved shortly.“

Magazine: Will the crypto lobby’s $189M campaign get CLARITY over the line?

AI shopping agent developer ORO has revealed that it lost $630,000 worth of crypto when a suspected North Korean state hacker, posing as a conference contact, tricked a staff member into installing a malicious Microsoft Teams extension.

According to a post-mortem released by ORO, one of its team members met a contact at an industry conference in February 2025 and formed a “legitimate relationship” that involved communicating on Telegram.

Almost a year later in May 2026, the Telegram account belonging to this genuine contact reached out to schedule a catch-up call. 

However, when the ORO staff member joined the call via a link that mimicked Microsoft Teams, there was no working audio, and so the pair rescheduled for another day. 

Almost immediately, the team member’s computer prompted them to update Microsoft Teams, and, thinking nothing of it, they okayed the procedure. 

Read more: MetaMask hired suspected North Korean dev flagged months earlier

However, the seemingly innocent update allowed a malicious extension to be installed onto their computer. This extension tracked their keyboard inputs, clipboard history, took screenshots of the computer’s page and browser history, and could swap out crypto addresses.  

The attacker spent almost a month quietly collecting data before, on July 13, they drained ORO’s crypto wallets of 147,000 Alpha tokens.  

ORO believes attack came from North Korea

ORO maintains that the contact at the conference was “legitimate,” and that their Telegram account had become compromised. 

As for who the attacker is, ORO claims with “high confidence,” based on its macOS intrusion, that it’s a North Korean hacker from the state-backed group Sapphire Sleet.  

It said, “The IP address that our compromised machine was beaconing to, the matching payload and some overlapping infrastructure outlined in the above post from Microsoft makes us confident that the attack came from this group.”

Indeed, Microsoft’s Threat Intelligence department highlights how Sapphire Sleet uses Teams-themed cover, social engineering, and focuses on macOS. 

“By impersonating a legitimate software update, threat actors tricked users into manually running malicious files, allowing them to steal passwords, cryptocurrency assets, and personal data while avoiding built‑in macOS security checks,” it said. 

ORO claims it’s partly responsible for $600K hack

Despite the hacker’s actions, ORO also partly admitted responsibility for causing the hack. 

It claims that a lack of widespread support for hardware wallets in decentralised protocol Bittensor meant that the firm, going against its preference for hardware wallets, “temporarily” established the owner key as a software wallet. 

It said, “This is what allowed it to be exfiltrated from a compromised machine. That was inexcusable, and it was our mistake. We are sorry for the impact this has had on our community and our supporters.”

ORO claims it’s actively pursuing the recovery of the stolen assets with the help of cryptocurrency exchanges and law enforcement, as well as Bittsensor agent firm Opentensor, Bittsensor wallet firm Curciible Labs, and Bittsensor AI infrastructure firm Connito AI.

The company also stressed that its subnet is “fully operational,” no other wallets, user, or subnet data was affected, and that validator signing keys on hardware wallets “were never exposed.”

Galaxy Digital (GLXY) said it set up a $5 million fund for Bitcoin developers working to protect the network from the potential future threat posed by quantum computing.

The crypto financial services company said it will begin accepting applications for the Galaxy Bitcoin Quantum Readiness Initiative immediately, with grants focusing on developing quantum-resistant signature schemes, wallet migration tools and security audits. The company said it hopes other firms will contribute funding and research to accelerate the transition to quantum-resistant cryptography.

Bitcoin secures wallets and transactions with cryptographic techniques that current computers cannot break in a meaningful timeframe. While quantum computing is still too immature to attack the blockchain, advances in the technology have accelerated efforts across government and industry to adopt quantum-resistant standards before the threat becomes a reality.

In the event that quantum computers do become capable of breaking Bitcoin’s cryptography, roughly 6.9 million bitcoin BTC$66,430.63 could become vulnerable to theft, according to CryptoQuant research. At today’s price of about $66,800, that comes to about $461 billion.

Bitcoin has risen 2.2% to $66,681, and XRP has gained 3.6% to $1.152 as both assets test chart resistance while Iran claims it struck Amazon’s data infrastructure in Bahrain.

IRNA, Iran’s state news agency, has reported that the Islamic Revolutionary Guard Corps used several cruise missiles to attack what it described as Amazon’s central data infrastructure in Bahrain on July 21. The IRGC claimed the facility was destroyed, although Amazon and Bahraini authorities had not confirmed the reported damage at the time of writing.

According to the IRGC, the operation came in response to a US attack on the construction site of Iran’s Darkhovin nuclear power plant. The Iranian force has also threatened 18 American technology companies, including Microsoft, Intel, Cisco and Google, over their alleged links to US military and intelligence activity.

Amazon Web Services facilities in Bahrain and the United Arab Emirates have already faced attacks during the conflict. In April, an Amazon cloud facility in Bahrain had sustained damage in an Iranian attack, while service interruptions affected AWS infrastructure elsewhere in the region.

Investors reacted cautiously because the latest IRGC account lacked independent confirmation. Amazon shares had closed Monday 1.12% higher at $249.99, but US stock futures later surrendered part of their earlier gains as reports of the alleged attack circulated.

Military action continued while Pakistan pursued another diplomatic effort. The US Central Command had completed a new series of attacks on Iran, extending the American campaign to a tenth consecutive night.

CENTCOM listed Iranian command centers, maritime assets, missile and drone launch sites, and air-defense systems among the targets. The US military stated that the strikes were intended to reduce Iran’s ability to attack commercial vessels passing through the Strait of Hormuz.

At the same time, the Associated Press reported that Pakistan was trying to restart ceasefire negotiations. Those efforts continued as Iran attacked targets in Bahrain, Kuwait and Jordan and fighting disrupted commercial traffic through the Strait of Hormuz.

Bitcoin recovery runs into Fibonacci resistance

Bitcoin (BTC) rose from a daily low of $65,149 to an intraday high of $66,956 on Binance, according to the supplied TradingView chart. The move placed BTC directly below the 61.8% Fibonacci retracement at $67,257, calculated from the decline between $82,485 and $57,845.

TradingView’s daily setup identifies $67,257 as the immediate technical barrier. A daily close above it would expose the 50% retracement at $70,165, while another advance could bring the 38.2% level at $73,073 into view.

Failure to clear the 61.8% line would leave Bitcoin inside the recovery range formed since its late-June low. The same chart places the closest marked downside level at $63,118, which corresponds with the 78.6% Fibonacci retracement and overlaps with recent consolidation.

Momentum has improved alongside the rebound. Bitcoin’s relative strength index stands at 61.91, above its moving average of 53.05 but still below the overbought threshold of 70, according to TradingView.

The daily MACD also remains positive, with the MACD line at 508.46, the signal line at 406.09 and the histogram at 102.37. TradingView’s readings show bullish momentum, although the small gap between the two lines means BTC still requires follow-through above $67,257 to strengthen the signal.

Bitcoin’s latest candle opened at $65,255 and remained positive when the chart was captured. However, the unfinished daily candle means the attempted break cannot be confirmed until the session closes.

XRP breakout points toward $1.30

XRP (XRP) price has moved above the descending boundary of a symmetrical triangle on its Binance daily chart. TradingView data shows the token advancing from a session low of $1.111 to an intraday high of $1.158 after several weeks of contracting price action.

The pattern developed between falling resistance from the mid-June swing high and ascending support extending from the late-June low. XRP’s move above the upper trendline indicates a breakout attempt, although confirmation still depends on a daily close outside the formation.

Based on the measured height displayed on the supplied chart, the triangle carries a projected move of about $0.2845. Applying that distance to the breakout area places the first marked target near $1.30.

A second resistance line appears at $1.374, which acted as a trading area before XRP’s sharp decline in early June. The chart therefore shows $1.30 as the first target and $1.374 as the next barrier if buyers maintain control.

TradingView’s Aroon indicator supports the bullish attempt, with Aroon Up at 100% and Aroon Down at 42.86%. Chaikin Money Flow has also climbed to 0.08, indicating that buying pressure has returned during the breakout.

A move back below the triangle’s upper boundary near $1.10 would weaken the pattern and place its rising support at risk. Sustained trading above the breakout line would preserve the chart’s path toward $1.30, though the unverified Amazon strike claim and continued US-Iran attacks could increase volatility across both XRP and Bitcoin.