Binance has regained website access across the Philippines after PLDT restored the platform on its network, extending an SEC-supervised return that remains subject to testing and local compliance requirements.

Binance website returns across major Philippine networks

PLDT users can now access Binance’s localized Philippine website, bringing the platform back across the country’s two largest telecommunications networks. Globe Telecom had already restored access in May.

The Philippine Binance homepage identifies BlockShoals Technologies Inc. as the local entity facilitating access to the exchange. BlockShoals operates as a crypto asset intermediary under the Philippine Securities and Exchange Commission’s Strategic Regulatory Sandbox, or StratBox.

Binance does not operate the local service directly. The website states that BlockShoals acts as an introducing intermediary, while Binance services are supplied by entities regulated in the Abu Dhabi Global Market.

Binance co-founder Changpeng “CZ” Zhao confirmed the website restoration in a July 29 post on X.

“Binance has a very special sandbox license in the Philippines. Website is unblocked in the country. Fiat channel coming soon, I hear,” Zhao wrote.

His comments followed an appearance at the ASEAN Tech Summit in Manila with FinTech Alliance Philippines founding chairman Lito Villanueva.

SEC sandbox replaces Binance’s former unlicensed model

Philippine authorities blocked Binance in 2024 after the SEC found that the exchange had offered investment and trading services without the required local registration.

The SEC asked the National Telecommunications Commission to restrict the website in March 2024. Authorities also sought the removal of Binance applications from local Google and Apple app stores.

Binance’s return uses a different legal structure. BlockShoals received in-principle SEC approval in November 2025, followed by a Notice to Proceed with Testing on April 14, 2026. The authorization allows the company to test Binance-linked services under regulatory supervision rather than launch an unrestricted public operation.

The first phase includes a 90-day integration period involving BlockShoals and a local virtual asset service provider. Customer onboarding is expected to follow after that work is completed.

The sandbox approval is therefore not equivalent to a permanent license. It permits controlled testing while the SEC reviews the service, its safeguards, and its compliance systems.

Filipino users still await local fiat channels

Restored website access removes a major technical barrier, particularly for users who previously relied on virtual private networks or offshore access routes. It does not, however, mean that every local service is ready.

BlockShoals is still connecting Philippine peso payment channels and completing systems required under the country’s anti-money laundering rules. Users may see registration and product information on the localized website, but the official PHP deposit and withdrawal system has yet to complete its rollout.

The Binance app could also return to Philippine app stores once regulators update Apple and Google about the platform’s status. No firm date has been announced for that step.

BNB traded near $592 at the time of writing, up roughly 4% over the previous close. The token’s move came during a broader crypto-market rebound, and there was no clear evidence linking the gain directly to the Philippine access restoration.

What the sandbox model means for US investors

The Philippine structure differs from Binance’s approach in the United States. American customers use Binance.US, a separate platform operated by BAM Trading Services, while the international Binance platform restricts US users.

BlockShoals’ model could provide a case study for exchanges seeking to re-enter markets after enforcement action. It combines a local intermediary, controlled testing, and services delivered through separately regulated Binance entities.

For the Philippines, the next milestone will be the completion of systems integration and the launch of local fiat rails. Until then, the website restoration represents progress toward a regulated return, but not a fully completed public relaunch.

Bitcoin traded with subdued volatility on Thursday as a rebound in US equities and a softer read on inflation reduced the pressure investors had placed on risk assets. In late US trading, BTC held near $64,500, largely steady from the prior day, after market attention shifted to June’s US Personal Consumption Expenditures (PCE) inflation release.

The PCE report showed inflation cooling to 3.7% year-on-year—matching expectations—while S&P 500 and Nasdaq Composite gains reflected a broader “risk-on” tone. Even so, commentators cautioned that the numbers still sit well above the Federal Reserve’s 2% target, keeping the longer-term debate about the inflation path alive.

Key takeaways

• Bitcoin largely shrugged off Thursday’s macro-driven volatility, holding around the $64,500 area as US stocks rebounded.
• June PCE inflation came in at 3.7% year-on-year, in line with forecasts, ending a short-term uptrend in the data.
• Despite the cooler print, inflation remains materially above the Fed’s 2% target, limiting “all clear” confidence.
• Bitwise CIO Matt Hougan argued that future interest-rate moves may be smaller—potentially reducing how strongly BTC reacts to rate headlines.

BTC stays range-bound as equities recover

Charting from TradingView showed BTC/USD action focusing around $64,500, with price behavior described as broadly unchanged versus the previous day. Earlier in the week, crypto had faced a headwind from a broad sell-off in semiconductor stocks, a move that spilled into other risk assets during US trading. That pressure eased on Thursday, helping keep Bitcoin from forcing a sharp reaction to the day’s macro catalyst.

At the time of writing, the S&P 500 was up about 1% and the Nasdaq Composite gained roughly 2.3%, reflecting improving sentiment across markets following the inflation data release.

PCE cools to 3.7%—but remains far above the Fed target

June’s PCE inflation print provided the day’s primary momentum. The year-on-year reading of 3.7% matched market expectations, while May’s figure had been 4.1%, which was described as the highest in three years. PCE is widely treated as the Federal Reserve’s preferred inflation measure because it is based on a broad basket of consumer spending and updates more quickly as consumer choices shift in response to prices. The Federal Reserve Bank of Cleveland describes this framing as a key advantage of the PCE approach.

In its release, the US Bureau of Economic Analysis (BEA) attributed the month’s increase in current-dollar PCE to higher spending—most notably services. The BEA said the $65.2 billion rise in current-dollar PCE reflected increases of $58.2 billion in spending on services and $7.0 billion in spending on goods.

Even with the cooling headline number—and the BEA noting a month-on-month decline—some market watchers treated the report as cautiously supportive rather than decisive. The Kobeissi Letter highlighted that the 3.7% rate was still the second-highest result since October 2024. The account also argued that inflation was running at nearly double the Fed’s 2.0% target.

Economist Steve Hanke also pushed back against complacency, describing inflation as a “genie the Fed just can’t put back in the bottle,” while emphasizing the mismatch between current inflation and the Fed’s goal.

Fed policy uncertainty persists—Bitwise expects weaker rate sensitivity

Beyond the inflation print, Thursday’s narrative also centered on interest-rate expectations. The Federal Reserve left rates unchanged at its latest meeting on Wednesday, with an emerging split among Federal Open Market Committee (FOMC) members over the appropriate policy path.

Matt Hougan, chief investment officer at Bitwise, argued that Bitcoin’s sensitivity to future rate announcements may be lower than what investors have historically experienced. On social media, Hougan pointed to the pattern of rate swings during Bitcoin’s history—ranging across very wide levels—and suggested that future changes may be more incremental. His comment referenced CME Group’s FedWatch Tool, which implies a smaller trajectory for rates over the coming year compared with prior cycles.

Hougan also tied his view to expectations around leadership. He stated that new Fed chair Kevin Warsh is likely to echo former chair Alan Greenspan in terms of the scale of policy moves, contrasting that with Jerome Powell. In addition, he referenced earlier signals from US President Donald Trump suggesting Warsh would take a more dovish stance on policy, a development that, if realized, could support risk-asset performance and reduce the market’s fear of abrupt tightening.

What investors should watch next

Bitcoin’s muted reaction to Thursday’s macro headlines suggests investors are still willing to hold through volatility when equities stabilize, but the debate over whether inflation is truly on a sustainable path remains unresolved. The next key factor will be whether incoming PCE reads continue to ease toward the Fed’s target and whether rate expectations—tracked via tools like CME FedWatch—continue to shift more gradually rather than re-pricing abrupt policy changes.

Bitcoin (BTC) shook off volatility on Thursday as US stocks rebounded on the back of inflation-data relief.

Key points:

• Bitcoin avoids a snap reaction to US personal consumption expenditures (PCE) inflation data, which reverses a local uptrend.
• Analysis remains wary of inflationary tendencies despite PCE conforming to expectations.
• Bitwise predicts that going forward, Bitcoin will become less sensitive to Fed interest-rate changes.

PCE ends uptrend while staying above Fed inflation target

Data from TradingView showed BTC price action focusing on $64,500, broadly unchanged from the day prior. 

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The major risk-asset headwind from earlier in the week in the form of a mass sell-off in semiconductor stocks eased on the day, sparing crypto during the US trading session. The S&P 500 index and Nasdaq Composite index were up 1% and 2.3%, respectively, at the time of writing.

Nasdaq Composite Index one-day chart. Source: Cointelegraph/TradingView

The June print of the US Personal Consumption Expenditures (PCE) index added another positive catalyst, this coming in at 3.7% year-on-year — in line with market expectations. May’s PCE print, at 4.1%, was the highest in three years.

PCE is considered the Federal Reserve’s preferred inflation measure as it offers a broader and more comprehensive measure of inflation and more quickly picks up adjustments in consumers’ choices in response to price changes, according to the Federal Reserve Bank of Cleveland.

“The increase in current-dollar personal income in June primarily reflected increases in compensation, personal income receipts on assets, and government social benefits that were partly offset by a decrease in farm proprietors’ income,” the US Bureau of Economic Analysis (BEA) said. The BEA said in its data release: 

“The $65.2 billion increase in current-dollar PCE in June reflected increases of $58.2 billion in spending on services and $7.0 billion in spending on goods.”

US PCE data percentage change (screenshot). Source: BEA

While ending an uptrend in PCE numbers and showing the first month-on-month decline since 2020, the June print sparked conservative reactions. Trading resource The Kobeissi Letter noted that the 3.7% figure was still the second-highest result since October 2024.

“US inflation continues to run at nearly double the Fed’s 2.0% target,” it said on X.

Johns Hopkins economist Steve Hanke described inflation as “the genie the Fed just can’t put back in the bottle,” while also noting the mismatch with its 2% target.

Bitwise CIO sees BTC brushing off future rate cues

The Federal Reserve left interest rates unchanged at its latest meeting on Wednesday, with an emerging split among the Federal Open Market Committee (FOMC) members regarding appropriate policy.

Related: South Korean crypto trading surges amid stock market plunge

Following the event, Matt Hougan, chief investment officer at crypto asset manager Bitwise, forecast that future interest-rate announcements would have less impact on BTC price performance.

“Rationale: Throughout bitcoin’s history, interest rates swung wildly — from 0% to 2.5% to 0% to 5% to 3.5%.  Changes have been measured in whole percentage points. But future changes seem likely to be more modest; the CME expects a 50bps rise over the next year,” he told X followers, referring to rate expectations as measured by CME Group’s FedWatch Tool.

Fed target-rate probabilities (screenshot). Source: CME Group

Hougan said that new Fed chair, Kevin Warsh, will likely echo former chair Alan Greenspan with the scale of rate changes, diverging from his immediate predecessor, Jerome Powell.

Prior to Warsh’s appointment, US president Donald Trump gave repeated signals that he expected Warsh to adopt a dovish stance on the issue, a move that would bolster risk-asset performance.

Asset management giant BlackRock has continued to expand into the Ethereum ecosystem, dipping its toes in Ethereum DeFi, and launching staked ether ETFs, while JPMorgan deepened its blockchain-based settlement initiatives. Together, these efforts illustrate a broader institutional shift toward using Ethereum as the base layer for tokenized real-world assets, drawn by its security, composability and mature developer ecosystem.

TradFi’s growing acceptance of Ethereum is also evident in the markets. Since their launch in 2024, spot U.S. Ethereum spot exchange-traded funds (ETFs) have accumulated more than $11.23 billion in net inflows, reflecting steadily increasing institutional demand for exposure to ETH. Just as importantly, institutions are no longer limiting their relationship with Ethereum to holding its native asset. They are increasingly issuing financial products directly on the network itself.

That contrast may ultimately define Ethereum’s eleventh year. Internally, the ecosystem has experienced one of the most consequential periods of introspection in its history, forcing its leading institution to rethink its structure, leadership and purpose. Externally, Ethereum has never appeared more firmly embedded within the global financial system.

For much of its first decade, Ethereum’s challenge was proving that decentralized infrastructure could work. Its second decade begins with a different challenge: ensuring that the institutions surrounding that infrastructure can evolve without compromising the decentralized principles that made Ethereum possible in the first place.

Tokenized asset specialist Ondo Finance is evaluating a potential acquisition of between $250 million and $500 million, according to a person with knowledge of the matter.

The New York-based company is considering wealthtech targets, among other subsectors, said the person, who spoke on condition of anonymity because the matter is private.

Ondo has not yet appointed any formal advisers, the person said.

Founded in 2021 by former Goldman Sachs executives, Ondo Finance is a tokenization platform that brings traditional financial assets onchain. The company issues tokenized U.S. Treasuries and stocks and has become one of the largest providers of tokenized real-world assets, with more than $2.5 billion across its products.

“As a fast-growing company, Ondo regularly evaluates the market as part of normal business operations. We are not in conversations with any party at this time,” an Ondo representative said in emailed comments to CoinDesk.

Crypto dealmaking has remained strong in 2026 as traditional financial firms and larger digital-asset companies use acquisitions to add licenses, technology and distribution.