Key Takeaways

• Shares of Palantir closed approximately 4.8% lower at $127.88 on Wednesday, halting a seven-session rally that had driven the stock up 25%.
• Concerns emerged following a Financial Times article discussing potential political opposition to Palantir’s government work from Democratic legislators.
• Federal contract revenues reached approximately $2.2 billion in the twelve months since Trump’s presidential return, marking a 65% annual increase.
• The stock continues to trade beneath both its 100-day and 200-day moving averages, maintaining a Death Cross pattern established in February.
• Wall Street maintains a Buy consensus rating with a $174.10 average price target; the company’s next earnings release is projected for August 3.

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Palantir Technologies (PLTR) experienced a significant decline Wednesday, ending a seven-session upward momentum. Shares retreated approximately 4.8% to close at $127.88, positioning the data analytics firm among the S&P 500’s weakest performers for the trading day.

Palantir Technologies Inc., PLTR

The downturn followed publication of a Financial Times piece highlighting internal company discussions and suggesting Democratic legislators might leverage subpoena authority to investigate Palantir’s federal government engagements should they reclaim House majority control.

DA Davidson’s Gil Luria spoke with Barron’s, attributing the price movement directly to the Financial Times coverage. Luria contested the political risk thesis, emphasizing that Palantir has maintained Defense Department relationships through five different administrations spanning both major political parties.

“Each successive administration has expanded its reliance on Palantir’s capabilities beyond what came before,” Luria noted.

The timing carries significance. PLTR had concluded Tuesday’s session precisely at its 50-day moving average near $134. Wednesday’s reversal indicates the stock encountered resistance at that technical threshold before retreating.

Palantir declined to provide commentary when contacted.

Congressional Concerns and Federal Revenue Exposure

While political controversy surrounding Palantir isn’t unprecedented, the Financial Times piece elevated these concerns prominently. The company has faced ongoing criticism regarding its contracts with U.S. immigration authorities, defense entities, and involvement in Israel’s Gaza operations.

The heightened attention carries weight given the financial stakes involved. Federal contract revenues approached $2.2 billion during the twelve-month period following Trump’s presidential inauguration—representing a 65% year-over-year surge. Meanwhile, commercial segment revenues more than doubled during this timeframe.

Any material interruption to these government agreements would represent substantive business impact beyond mere reputational considerations.

Notably, investor Michael Burry has established a short position against PLTR, contending that Anthropic represents competitive pressure in the artificial intelligence domain. Chief Executive Alex Karp has countered this perspective, asserting that large-scale AI models generate challenges that Palantir’s solutions are specifically designed to address for enterprise clients.

Technical Analysis of PLTR

The broader technical landscape remains challenging. PLTR currently trades 18.6% beneath its 200-day moving average of $157.31 and 7.9% under its 100-day moving average at $139.05. The Death Cross pattern—where the 50-day average crosses below the 200-day average—materialized in February and persists.

Year-to-date in 2026, Palantir shares have declined 29% and remain 39% off the all-time closing peak of $207.18 reached November 3, 2025.

The recent seven-day advance provided temporary respite. Following a June 25 trough at $107.27, PLTR rallied 25% across seven consecutive sessions. This momentum stemmed partially from an announced collaboration with Nvidia focused on developing specialized AI architectures for federal government applications, complemented by DA Davidson’s rating upgrade to Buy with a $175 price objective.

Wednesday’s retreat disrupted this positive trajectory.

Investors now turn attention toward the company’s upcoming earnings announcement, anticipated for August 3. Analyst projections call for earnings per share of 33 cents, double the 16 cents reported in the year-ago quarter, alongside revenue expectations of $1.81 billion versus $1.00 billion previously.

Wall Street maintains a consensus Buy recommendation on the shares with an average twelve-month price target of $174.10.

The European Securities and Markets Authority (ESMA), a key EU regulator supporting the implementation of the Markets in Crypto-Assets (MiCA) framework, is launching a dedicated process for reviewing crypto custody providers.

ESMA plans to conduct a common supervisory action (CSA) focused on the operational resilience of crypto-asset service providers (CASPs), with a specific emphasis on custody services, according to an official announcement on Wednesday.

“The CSA will assess the maturity of CASPs’ digital operational resilience frameworks in relation to custody activities,” ESMA said, adding that the reviews will focus on areas including key and storage management, alongside other operational risks.

The move comes shortly after the end of MiCA’s transition phase on July 1, prompting increased attention to how EU authorities will supervise compliance with the new framework, including potential enforcement questions.

National regulators to conduct custody reviews

ESMA said the supervisory action will be conducted by national competent authorities (NCAs) across the EU, which will assess a risk-based sample of authorized CASPs.

The reviews will run from now through the first half of 2027, with regulators examining how companies handle custody-related operational risks.

In addition to reviewing key and storage management, NCAs are expected to assess areas such as governance structures, transaction controls, incident detection and response, and dependencies on external service providers.

Related: Belgian regulator flags 6 unauthorized crypto providers after MiCA deadline

ESMA will later consolidate the findings into a final report to be submitted to its Board of Supervisors after the exercise concludes in the second half of 2027.

The review comes as some custody providers have stepped in to support crypto platforms adapting to Europe’s new regulatory environment.

Last month, crypto custody company BitGo launched a Europe-focused crypto-as-a-service platform aimed at helping platforms maintain access to the market while working through MiCA-related compliance requirements.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Viva Republica, the operator of South Korea-based mobile money transfer app Toss, reportedly signed a memorandum of understanding with blockchain company Optimism to test a Korean won-based stablecoin infrastructure for institutional payments.

The companies, along with privacy solutions provider Sunnyside Labs, will conduct a three-month proof of concept (PoC) using Optimism’s OP Stack and Sunnyside’s Privacy Boost protocol to develop a Korean won-based stablecoin and assess whether these technologies can be applied to domestic blockchain-based payment infrastructure for financial institutions, reported Yonhap News on Wednesday.

The PoC will explore whether financial institutions can control the settlement process, the feasibility of implementing know-your-customer (KYC) and anti-money laundering (AML) verification requirements and whether transactions can remain private on a public blockchain ledger.

Toss plans to use the three-month PoC as the foundation for building compliant stablecoin-based payment infrastructure in the country, according to the report.

Cointelegraph has approached Toss for more details about the stablecoin pilot.

Toss app homepage. Source: Toss.im 

Optimism will provide the blockchain infrastructure, while Sunnyside Labs will provide the privacy-preserving technology to shield transfers. Sunnyside is a core developer for the Optimism Collective and has been building core OP Stack infrastructure.

Seoul-headquartered Toss was launched in 2015 and claims it has more than 30 million users on its mobile application.

Related: Kiwoom eyes Bithumb stake as Korean brokerages push into crypto: Report

Payments giants test stablecoins for improved settlement

Toss’ PoC follows similar stablecoin-based initiatives from other large financial institutions in the country.

In late April, one of South Korea’s largest credit card providers, Shinhan Card, teamed with the Solana Foundation to test the commercial feasibility of stablecoin payments and the use of non-custodial wallets, after completing a joint pilot project earlier that month.

Shinhan Card said it hoped to eventually develop its own DeFi-linked services that implement blockchain oracles, a technology used to connect information in offchain and onchain environments.

Late last year, payments giant Visa also launched USD Coin (USDC) settlement services for some US-based financial institutions on the Solana blockchain in one of the more advanced examples of stablecoin projects.

Other large payment providers exploring stablecoins for improved payments and settlement include Mastercard and South Korea’s BC Card.

Magazine: The biggest blockchain upgrades still to come in 2026

Key Highlights

• Chrome Web Store will prohibit prediction market extensions starting August 2026.
• Real-money trading tools for outcome predictions will face enforcement measures.
• Enhanced data privacy requirements mandate clearer user disclosures from developers.
• Extension creators must report any modifications to data handling after launch.
• Tools designed to circumvent AI safety mechanisms will be prohibited.

The Chrome Web Store will implement a comprehensive ban on prediction market extensions beginning August 1, 2026, according to revised developer guidelines announced by Google. These restrictions specifically target extensions facilitating real-money betting on future events while simultaneously introducing enhanced requirements for data transparency and expanding developer accountability.

Prediction Markets Join Chrome’s Restricted Category List

Google has designated prediction market extensions as prohibited items within its regulated goods and services framework. This categorization encompasses any tools enabling monetary transactions based on speculative outcomes. The decision effectively removes this entire class of applications from the approved extension marketplace.

The announcement arrives amid increasing regulatory oversight of prediction market operators. Polymarket and Kalshi have encountered heightened examination from state-level authorities regarding gambling-related issues. Multiple regulatory bodies contend these services function similarly to sports betting operations.

Google positioned this policy shift as a component of broader platform security enhancements. The technology company advised developers to audit their currently published extensions ahead of the enforcement deadline. Any extensions violating these guidelines after August 1, 2026, will be subject to removal from the Chrome Web Store.

Enhanced Data Privacy Standards For Extension Developers

Google has strengthened its Limited Use Policy governing user information collection. Extension developers are now restricted to gathering only data essential for their declared primary function. This means extensions cannot harvest user information for undisclosed or secondary purposes.

The platform has simultaneously broadened mandatory disclosure obligations for publishers. Every instance of data collection must be transparently communicated to users, regardless of whether it directly supports the extension’s core functionality. Additionally, developers must notify users whenever data handling procedures are modified following initial installation.

These regulations impose significant new obligations on Chrome extension creators. Publishers must ensure that permissions, user notifications, and data practices remain consistent with their extension’s advertised purpose. Consequently, vague or overly broad data access requests may trigger compliance violations.

Restrictions On AI Safety Bypass Tools Implemented

Google has established an additional policy addressing extensions connected to AI-driven platforms. This regulation prohibits extensions specifically engineered to evade safety protocols or usage restrictions. It extends to tools that compromise protective features integrated into artificial intelligence products.

The company emphasized that these modifications aim to strengthen user confidence and platform reliability. Google seeks to ensure users maintain clear understanding of extension capabilities and data practices. The objective includes preventing the Chrome Web Store from hosting products that generate security vulnerabilities or regulatory complications.

The prediction market prohibition establishes fresh parameters for developers working in evolving technology sectors. It simultaneously mirrors intensifying scrutiny surrounding event-based wagering and real-money forecasting applications. Google has provided developers until August 1, 2026, to either modify or withdraw non-compliant extensions.

 

Key Highlights

• European regulators initiate coordinated custody audits following MiCA’s full activation.
• Crypto service providers undergo scrutiny on client asset safeguarding mechanisms.
• Examination covers private key management, governance structures, and transaction oversight.
• MiCA framework transitions from registration phase to active compliance verification.
• Comprehensive findings expected by 2027 to identify custody vulnerabilities across member states.

European securities regulators have initiated a comprehensive custody examination targeting crypto firms operating under the new MiCA regulatory framework. The investigation evaluates how licensed providers safeguard customer holdings and address operational vulnerabilities. This coordinated effort aims to establish uniform protection standards throughout the European Union.

Pan-European Custody Investigation Underway

ESMA activated the joint examination on July 8, collaborating with financial regulators across all member nations. The investigation zeroes in on licensed crypto-asset service providers offering custody functions. This initiative follows MiCA’s transition deadline that concluded on July 1.

National supervisory bodies will identify firms using risk-weighted selection criteria. Oversight will concentrate on entities handling substantial operational volumes and significant customer asset exposures. Not all registered platforms will undergo examination.

ESMA directs regulators to evaluate the robustness of digital operational resilience protocols. The examination encompasses corporate governance, asset storage infrastructure, transaction authorization procedures, and emergency response capabilities. Authorities will verify whether firms maintain custody operations with transparent internal oversight structures.

Asset Protection Mechanisms Under Examination

The investigation prioritizes private key management and storage methodologies as central supervisory concerns. Custody providers maintain access authority over client cryptocurrency holdings, meaning inadequate security systems can trigger immediate financial losses. ESMA will determine whether firms implement robust safeguards surrounding these critical functions.

Regulators will additionally scrutinize transaction approval workflows and security breach detection capabilities. These elements prove essential because custody breakdowns can rapidly cascade across platforms and service networks. Consequently, authorities expect firms to demonstrate comprehensive risk mitigation frameworks.

The examination will investigate external service dependencies and smart contract vulnerabilities. Numerous crypto platforms depend on third-party technology suppliers and infrastructure networks. ESMA directs national authorities to uncover weaknesses before system failures impact customers.

Regulatory Enforcement Reaches Operational Phase

MiCA establishes the European Union’s unified regulatory framework for crypto service platforms. Nevertheless, individual member-state authorities maintain primary supervisory responsibilities. ESMA will leverage this investigation to harmonize divergent national oversight methodologies.

The examination launches as the EU’s authorized crypto provider registry expands continuously. Recent licensing approvals have incorporated additional exchanges, custodians, and service platforms into the regulated ecosystem. This growth intensifies demands on supervisors to validate real-world compliance performance.

ESMA anticipates the investigation will continue through mid-2027. Following completion, the regulator will compile unified conclusions for its Board of Supervisors. The comprehensive report will provide European authorities with detailed intelligence on custody vulnerabilities under MiCA’s operational framework.

 

TLDR:

• The XRP Ledger AI Hub has launched as a new discovery point for AI builders, agents, services, merchants, and x402 payment activity on XRPL.
• The XRP Ledger has surpassed 1 million agentic payments, showing rising machine-driven settlement activity across AI-linked services.
• XRP price remains under pressure near $1.06, with sellers still controlling momentum below major daily moving averages.
• Weak ETF flows, lower active addresses, and declining futures interest show that market demand has not matched the network milestone yet.

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The XRP Ledger AI Hub has gone live as XRPL records a major milestone in AI-linked blockchain payments. t54.ai announced the platform as a single destination for AI agents, developer tools, payment services, and merchants building on the network.

The launch comes as the XRP Ledger Foundation says XRPL has surpassed 1 million agentic payments through the x402 protocol. The milestone adds a fresh utility narrative for XRP and RLUSD, although XRP price action remains weak near $1.06.

XRP is trading below $1.10 after four straight days of losses. Muted ETF flows, weaker active addresses, and lower futures demand continue to weigh on near-term sentiment.

XRP Ledger AI Hub Opens New Door For AI Builders

The XRP Ledger AI Hub is designed to help developers track what is already live across the XRPL AI ecosystem. It starts with three core areas covering x402 activity, developer resources, and a directory of AI projects.

The index section tracks live x402 payment activity on the network. The developer section includes docs, SDKs, repositories, and other resources. Meanwhile, the directory highlights AI projects, agents, services, and merchants using XRPL rails.

The launch follows Ripple’s XRP Ledger AI Starter Kit, which introduced tools for agentic payments. The kit supports x402 payments using XRP and RLUSD, allowing AI agents to pay for APIs, compute, and inference services.

That structure matters as AI agents need fast, low-cost, and predictable settlement. XRPL offers short settlement times and fixed-style transaction costs, which can help software agents operate without manual approval loops.

The latest activity also points to deeper merchant adoption. Reports show 121 active merchants are now recorded, with Heurist Mesh, LucyOS, and AskSurf accounting for much of the transaction volume.

XRP Price Stays Weak Despite Agentic Payments Milestone

Nevertheless, the XRP Ledger AI Hub launch has not changed the short-term XRP price trend. XRP remains below key moving averages, keeping the market structure under pressure.

The 50-day EMA sits near $1.18, while the 100-day EMA is around $1.28. The 200-day EMA near $1.49 remains a wider resistance zone for any stronger recovery attempt.

On the downside, traders are watching support near $1.05 and $1.02. A break below this range could expose XRP to another wave of selling, especially if broader crypto sentiment weakens.

On-chain activity also shows caution. Active addresses recently dropped to about 14,500 from nearly 31,000 a day earlier, after peaking near 43,000 on June 30.

ETF activity has also slowed, with no recorded spot XRP ETF flows on Monday and Tuesday. Cumulative inflows still stand near $1.49 billion, but fresh demand remains limited.

Futures data adds to the softer picture. Open interest has slipped from late-June levels, showing weaker speculative appetite as XRP struggles below resistance.

The split between network utility and price action is now central to XRP’s next move. Agentic payments may support a longer-term XRPL adoption story, but traders still need a stronger price reaction above $1.18.

Bitcoin (BTC) is seeing a “textbook” bear-market bottom as speculators take profits on the trip toward $65,000.

Key points:

• Bitcoin is repeating previous macro bottom behavior in a “textbook” manner, analysis argues.
• Short-term holders are taking profits on minor recoveries — something “characteristic of a bull market.”
• Doubts remain about speculators avoiding future capitulation.

Analysis: Bitcoin bottom will “be very obvious in hindsight”

In their latest analysis on X, the Bitcoin quant account known as Frank, named for the famous economist Frank A. Fetter, doubled down on conviction that the worst of the BTC price downtrend is over.

“This is a textbook bitcoin bottom; I mean every bottom signal has flashed or is flashing, it’ll be very obvious in hindsight,” one post stated.

An accompanying chart showed the 200-week simple moving average (SMA) for BTC/USD, along with various quantiles. 

The ninth quantile is of particular interest, having marked reversals at the pit of the 2022 bear market and March 2020 COVID-19 crash. Price is now back in that reversal zone.

BTC/USD chart with 200-week SMA data. Source: Frank/X

Turning to short-term holders (STHs) — wallets holding BTC for up to six months without selling — another encouraging sign emerges.

For Frank, positive readings from the cohort’s spent output profit ratio (SOPR), which measures the proportion of STH coins moving onchain in profit or loss, are conspicuous.

“A key bitcoin metric might be signaling that a market shift is underway. Sth-sopr just flipped green as short-term holders are realizing profits,” they wrote. 

“The market treating short-term holders well is a characteristic of a bull market.”

Bitcoin STH-SOPR data. Source: Frank/X

Short-term holders may still see “capitulation”

The findings add to a growing consensus among market participants that the 2026 bear market has little time left to run.

Related: $60.4K Becomes ‘most important area’: Five things to know in Bitcoin this week

As Cointelegraph reported, various onchain indicators and related price yardsticks are hitting levels not seen since 2022.

Adopting a more cautious view of STH-SOPR, meanwhile, onchain analytics platform CryptoQuant warns that new lows in the metric could be needed first.

“In stronger bottoming zones, STH SOPR often drops much deeper as short-term holders capitulate and sell at large losses. However, the current level is not near the deeper capitulation area seen around 0.93 in previous local bottom zones,” contributor Trader Germini commented in a blog post on Wednesday. 

“This means the market has cooled down, but it has not yet shown a strong short-term holder capitulation signal.”

Bitcoin STH-SOPR data (screenshot). Source: CryptoQuant

Key Highlights

• Shares of SMCI advanced 4.67% following the unveiling of edge AI appliances

• Partnership with Red Hat and Everpure aims to streamline edge AI implementations

• The solution integrates Kubernetes, storage infrastructure, and edge computing hardware

• The system leverages Red Hat OpenShift for hybrid cloud AI operations

• Portworx by Everpure delivers Kubernetes-native storage for decentralized AI applications

Shares of Super Micro Computer, Inc. climbed 4.67% to reach $27.48 as the company strengthened its edge AI capabilities. The stock maintained strong momentum throughout the trading session, closing near its daily peak. The upward movement came after the company unveiled a new Kubernetes Edge AI appliance developed alongside Red Hat and Everpure.

Super Micro Computer, Inc., SMCI

Stock Performance Follows Edge AI Product Unveiling

Supermicro announced pre-validated Kubernetes Edge AI appliances designed for businesses operating computing infrastructure beyond traditional data centers. The integrated solution merges Supermicro’s hardware platform with Red Hat OpenShift and Portworx by Everpure. This combination delivers customers a pre-configured appliance engineered for accelerated implementation.

The product addresses the requirements of organizations deploying AI inference capabilities across geographically dispersed facilities. Target environments encompass retail outlets, manufacturing plants, telecommunications facilities, and isolated business operations. The company’s objective centers on minimizing configuration challenges for distributed infrastructure administrators.

According to the announcement, the appliance accommodates containers, virtual machines, and AI inference processing at remote locations. Customers gain access to an integrated ecosystem encompassing computation, storage, and administrative capabilities. The turnkey solution will be offered through Supermicro’s direct sales channels.

OpenShift Platform Enables Multi-Site Operations

Red Hat OpenShift serves as the foundational Kubernetes application platform within the new infrastructure. This platform enables organizations to deploy and oversee workloads spanning hybrid cloud architectures and edge environments. Through this integration, Supermicro delivers a standardized operational framework across diverse geographic deployments.

The company characterizes the offering as a fully validated, comprehensive solution. This methodology eliminates the requirement for independent validation across hardware components, software platforms, and storage infrastructure. The approach also accelerates deployment timelines for organizations with constrained on-premises technical resources.

This collaboration reinforces Supermicro’s position within the edge computing infrastructure market. The organization currently provides compact server platforms and edge devices across multiple configuration options. Its product lineup accommodates implementations ranging from standalone servers to comprehensive rack-mounted systems.

Everpure Integration Delivers Distributed Storage Capabilities

Portworx by Everpure contributes the Kubernetes-native storage and data orchestration component. This platform consolidates local storage resources on Supermicro edge computing platforms. Organizations can therefore operate fault-tolerant infrastructures without deploying conventional storage arrays at individual locations.

The storage architecture provides high availability, data safeguarding, and autonomous functionality during connectivity interruptions. This capability proves essential for remote installations that cannot rely on continuous centralized network access. Additionally, it enables organizations to implement uniform storage governance across edge and cloud environments.

Supermicro’s Data Center Building Block Solutions approach underpins this product introduction. This methodology employs validated building blocks to construct flexible infrastructure tailored to diverse customer requirements. The Red Hat and Everpure collaboration represents another strategic advancement in the company’s edge AI expansion efforts.