Crypto World
CLARITY Act timeline: the two-month window, mapped
Crypto’s market structure bill cleared committee with votes to spare and a calendar working against it.
Summary
- The CLARITY Act cleared the Senate Banking Committee 15-9, but floor support still depends on unresolved disputes.
- The bill must merge Banking and Agriculture Committee text before any Senate floor vote can begin.
- Conflict-of-interest language, stablecoin yield rules, illicit finance provisions, and floor time remain the key risks.
- A pre-recess passage is possible but difficult, while a fall slip remains the most likely scenario.
Eleven months after the House passed it and one year after the GENIUS Act proved Congress could legislate on crypto at all, the Digital Asset Market Clarity Act stands closer to law than any market structure bill in American history, and closer to a familiar death. On May 14, 2026, the Senate Banking Committee advanced the bill by a vote of 15 to 9, with all thirteen Republicans joined by two Democrats. The crypto industry celebrated for roughly a day before the second half of the sentence sank in: both Democratic votes came with explicit warnings that committee support did not guarantee floor support, the bill still has to merge with a separate committee’s text, and the Senate calendar between now and the August recess is a traffic jam of expiring deadlines that have nothing to do with crypto.
The bill’s own advocates now describe the window in weeks. Negotiators have said the remaining disputes must be settled if the Senate is to have a chance of passing the bill in the next two months, a framing that puts the decisive period between mid-June and the recess. What follows is a map of that window: how the bill got here, what is actually in it, the procedural steps remaining, the disputes that could still kill it, the calendar it competes against, and the probability tree at the end.
How the bill reached this point
Legislative history matters here because it explains both the momentum and the fragility. The House passed its CLARITY Act in July 2025 with a bipartisan margin, handing the Senate a finished framework for dividing crypto oversight between the SEC and the CFTC. The Senate, as the Senate does, declined to take the House text and began building its own. Senators Tim Scott and Cynthia Lummis released a discussion draft in July 2025; the Banking Committee followed with a 182-page draft of its Responsible Financial Innovation Act in September; twelve Senate Democrats published their own framework days later, staking out the minority’s price.
January 2026 brought a 278-page draft with the first version of the stablecoin yield prohibition, and the Agriculture Committee, which owns the CFTC’s jurisdiction, published its companion Digital Commodity Intermediaries Act the same month. Decisive text landed on May 12: a 309-page bill containing the compromises that made the markup vote possible. Two days later the committee advanced it. The names have blurred along the way, CLARITY in the House, RFIA in Senate drafts, but correspondents covering the process have been explicit that these are the same legislation wearing different titles, and this piece uses CLARITY throughout.
One more piece of history shapes everything: the GENIUS Act precedent. Stablecoin legislation passed in July 2025 by assembling roughly the same coalition this bill needs, proving the votes exist for crypto law when the irritants are sanded off. Every actor in the current fight is consciously replaying that playbook, and every dispute below is, at bottom, an argument about which irritants must be sanded and which are load-bearing.
One refinement to that history changed the bill’s internal politics and belongs on its own line. The September 2025 Democratic framework was not an obstruction document; it was a price list, and the majority has spent eight months paying it line by line, from illicit finance to insolvency protections. Reading the bill’s drafts in sequence is watching a negotiation conducted through legislative text, with each new version longer than the last because each one bought votes with pages. The 309-page May text is 127 pages heavier than September’s draft, and nearly all the added weight is purchased consensus.
What is actually in the 309 pages
The May 12 text repays a closer read, because several of its provisions have received almost no coverage relative to their consequences. At the bill’s core remains the jurisdictional settlement: a framework deciding which digital assets fall to the CFTC as commodities, which remain securities under the SEC, and how assets move between categories as their networks decentralize. Around that core, the May text added four things. A compromise on stablecoin yield prohibits platforms from paying interest on idle stablecoin balances while permitting activity-linked rewards, language the banking lobby immediately attacked as inadequate.
The American Bankers Association argued the text fails to stop interest-like rewards in practice. A framework for DeFi trading protocols appears for the first time, sketching how decentralized front ends and protocols fit a regime built for intermediaries. An insolvency safe harbor for digital commodity transactions addresses the FTX-shaped hole in bankruptcy law, clarifying customer claims when a platform fails. A strengthened illicit finance section answers the issue Democrats have pressed hardest from the beginning.
What the text pointedly does not contain is the provision everyone is arguing about. The conflict-of-interest section restraining government officials from profiting on crypto sits outside the Banking Committee’s jurisdiction and must enter the bill later in the process. That absence is not an oversight; it is a deferred fight, and it is large enough to merit its own treatment. For the purposes of the map, it is the bill’s single most dangerous open item.
The GENIUS playbook, step by step
Because everyone in the building is consciously rerunning the stablecoin play, the play itself bears study, both for what transfers and for what does not. GENIUS succeeded on a specific sequence. The bill survived an early failed procedural vote that forced negotiators back to the table, paid the minority’s price in consumer protection and anti-evasion language through weeks of painful redrafting, picked up a bloc of Democratic votes large enough to clear cloture comfortably, and reached the President’s desk in July 2025 as the first major crypto statute in American history.
Three features of that run mattered most: the subject was narrow enough that the irritants could be enumerated and paid one by one, the industry coalition stayed unified behind a single text instead of fragmenting across preferences, and the ethics fight never fully attached. A stablecoin bill could be framed as plumbing rather than as a referendum on anyone’s portfolio. Map those features onto CLARITY and the transfer is two out of three. The irritant-payment machinery is working, as the May 12 compromises show, and the industry coalition has held.
What does not transfer is the third feature, and its absence is the whole story of the current stall. A market structure bill that decides the legal status of assets the President’s orbit holds cannot be framed as plumbing, which is why the ethics question attached to this bill and not the last one. The GENIUS playbook, faithfully executed, carries CLARITY to the doorstep of the same coalition and leaves it standing there. It is waiting on the one fight the playbook never had to win.
The vote math, read closely
Fifteen to nine sounds comfortable. The Senate floor arithmetic is anything but, and reading the committee vote correctly is the difference between optimism and analysis. Sixty votes are needed to clear a filibuster, which means roughly seven Democrats beyond unified Republican support. The two committee Democrats who voted yes attached the same caveat publicly: their support on the floor depends on further progress on outstanding issues.
Their votes are best read as an option, not a commitment, purchased by the majority with the May 12 compromises and exercisable only if the remaining disputes resolve. The September 2025 framework from twelve Senate Democrats remains the best guide to the minority’s full asking price: illicit finance enforcement with teeth, consumer protections, and the ethics provision. The illicit finance question has progressed furthest, with industry groups now running events aimed at law enforcement audiences to argue the bill strengthens rather than weakens their tools. That campaign’s existence tells you the votes it targets are not yet secured.
Two structural facts help the bill’s chances. Crypto market structure polls as bipartisan in a way most of this Congress’s agenda does not, and the GENIUS coalition exists as a proof of concept with most of the same members. Two structural facts hurt it. Election-year floor time is the scarcest commodity in Washington, and any single senator determined to extract a price can burn days the bill does not have.
What the agencies do while Congress decides
The window matters more because of what fills the vacuum if it closes, and the past year offers the preview. In the absence of statute, crypto’s legal status in America is being set by agency posture, and posture is reversible. The SEC of this administration has settled or dropped the enforcement docket of the last one, blessed waves of spot products, and governs by exemption and inaction. The CFTC claims digital commodities it has limited statutory tools to police, and the banking regulators have opened the charter gates, as the trust bank approvals of the past year show.
Markets have priced this regime as if it were permanent, and it is one election from review. That is the deep stake in the CLARITY window that day-to-day coverage misses: the bill does not create the current friendly environment, which already exists, but it is the only instrument that can make any part of it survive a change of administration. A vacuum filled by posture serves the industry right up until the posture changes. Everyone negotiating this summer knows which years the next posture would be set in.
The same logic explains why some sophisticated industry actors quietly prefer a slipped bill to a weakened one. Statute is forever, or close to it; a CLARITY Act passed with hollow definitions or a poisoned amendment would lock in flaws that posture could otherwise have papered over. The window is real, but it is a window for the right bill. The actors who remember how long securities law lasts are negotiating accordingly.
The merge nobody is watching
Before any floor vote, a procedural step with real substance has to happen: the Banking Committee’s text must be unified with the Agriculture Committee’s CFTC provisions into a single package. The two committees split crypto the way Congress splits everything, by agency, with Banking owning the SEC and illicit finance pieces and Agriculture owning the digital commodity regime that the CFTC would run. Merges of this kind are where quiet drafting fights happen, because the seam between the two texts is exactly the seam between the two agencies. Every definitional choice at that seam moves real assets between regulators.
The Agriculture side has been the less contentious throughout, with its January draft attracting bipartisan participation, but the merge consumes time even when it goes well. The floor process cannot formally begin until the unified text exists. Anyone handicapping the window should treat the merge as a two-to-four week tax on the calendar before the procedural clock even starts. That tax matters because the bill is already running against a crowded pre-recess schedule.
The calendar war
Now the traffic jam. The Senate’s pre-recess window must also accommodate, at minimum, a Foreign Intelligence Surveillance Act renewal carrying a hard deadline this month, a fight that has gone badly enough to consume extra floor time and that crypto has managed to entangle itself in through an attempted ban on central bank digital currencies inserted into the surveillance negotiations. A major housing package is competing for the same weeks, with leadership attention attached. Appropriations season looms behind both, with last autumn’s 43-day government shutdown still fresh as the example of what happens to every secondary priority when funding fights consume the chamber.
Every one of these items outranks a regulatory framework bill in deadline pressure, because none of crypto’s problems explodes on a date certain, and the Senate triages by explosion. Procedural math compounds the squeeze. A bill of this size needs floor time measured in days even with cooperation: a motion to proceed, debate, an amendment process that leadership must either open, inviting hostile amendments on ethics and consumer issues, or close, angering the very Democrats whose votes are needed, and final passage. Then the House must act on whatever the Senate produces, either swallowing the Senate text whole or forcing a conference that pushes everything past the recess.
The two-month window, examined closely, is more like four to five weeks of plausible floor access, shared with everything else. That is why the committee vote, while real progress, is only the beginning of the time problem. The bill must not merely have support; it must have support at exactly the moment floor time is available. In the Senate, those are different things.
The pressure campaign
Around the formal process, the influence machinery is running at full capacity, and its shape says a great deal about where the bill’s sponsors think the risk sits. The Blockchain Association staged an online town hall in early June aimed explicitly at law enforcement audiences, with Senator Lummis among those assuring police and prosecutors that the bill provides tough crypto powers. Industry groups do not spend June persuading constituencies they have already won, which locates the live anxiety precisely: the bad-actor and illicit finance provisions remain the gating issue for the Democratic votes that matter. On the other flank, the banking lobby keeps pressure on the yield compromise.
The banking lobby keeps pressure on the yield compromise, with the ABA urging senators to close what it calls a loophole letting exchanges pay interest-like rewards, an argument that doubles as a wedge to slow the bill if it cannot reshape it. Above the whole field hangs the White House, which has signaled it will accept broad ethics rules and reject anything reading as targeted at the President. That position simultaneously keeps the bill alive and keeps its hardest problem unsolved. The pressure campaign is therefore not noise around the bill; it is a map of which votes are still in play.
The House problem at the far end
Even a Senate triumph leaves one more chamber, and the endgame mechanics there belong on any complete map. The House passed its CLARITY in July 2025; the Senate product, after a year of drafting, differs from it in scope and detail. The yield compromise, DeFi framework, and insolvency provisions did not exist in the House text. When the Senate passes a different bill, the House faces the standard choice: swallow the Senate version whole and send it to the President, or insist on its own and force a conference that consumes months the calendar no longer contains.
The political gravity strongly favors swallowing, since the House’s crypto majority wants a law more than it wants authorship, and leadership on both sides has signaled flexibility. But the choice belongs to House leadership at a moment, late summer or fall, when every floor day is contested. The bill’s opponents understand that a conference demand is the cheapest possible way to run out the clock while voting yes on everything. The practical upshot for the map is to add two to six weeks to any Senate passage scenario before a signing ceremony, with the short end requiring the House to accept the Senate text unamended.
The probability map
Handicapping legislation invites false precision, so the honest format is scenarios with reasoning instead of decimal points. A pass-before-recess outcome requires nearly everything to break right: the merge finishing this month, the illicit finance language closing the last Democratic holdouts, an ethics compromise that survives Gillibrand’s red line and the White House’s, and leadership choosing to spend a week of jammed floor time on a bill with no deadline. Each is individually plausible. Their conjunction inside five weeks is demanding, and the FISA fight has already shown this Senate’s tendency to let deadline items eat the calendar.
The slip scenario is the modal outcome: the bill misses the recess with momentum intact and returns in the fall, where it collides with appropriations and an intensifying election season. Fall passage of bipartisan economic legislation has precedent, and the GENIUS coalition proved durable across similar delays, but every month closer to the election raises the cost of any Democrat handing the administration a signing ceremony. The ethics fight gets harder in election light, not easier. Death requires no dramatic event, only the continuation of stalemate on the conflict-of-interest section until the clock runs out, sending the whole effort into the next Congress to restart from drafts.
A reasonable distribution across the three, given everything above: the slip is more likely than the other two combined, the pre-recess pass is a real but minority chance, and death by calendar is the tail that grows with every week the ethics section stays unwritten. Readers should weight the map by one rule of thumb that has governed this bill all year. Progress has come exactly as fast as the Democratic asks have been paid, and no faster. That remains the best shorthand for the next two months.
What each scenario does to which assets
A map for traders should end with exposure, because the three scenarios do not price evenly across the asset class, and the differences are tradable. Bitcoin is the least exposed asset in every branch. Its commodity status is the one classification nobody disputes, its ETFs exist regardless, and its price has spent the year trading macro rather than legislation; CLARITY’s fate moves it least. The large non-Bitcoin majors sit at the other extreme, because the ancillary asset framework is, functionally, a law about them.
Tokens like XRP, SOL, and ADA gain a permanent statutory home in the passage scenarios and return to litigation-and-posture limbo in the death scenario, with everything that implies for exchange listings, institutional mandates, and the ETF pipeline behind the first wave. The middle of the market, DeFi tokens, gains something new in the May text and therefore has the most asymmetric exposure of all. The DeFi framework exists in no current law, so for that cohort the difference between passage and death is the difference between a defined regime and none. Stablecoins, oddly, are the calmest corner, since GENIUS already governs them, but the yield compromise inside CLARITY adjusts their competitive economics at the margin.
The bank lobby’s continued assault on that language is worth watching as a tell: the ABA fights hardest over provisions it expects to become law. Position accordingly, and date every position, because each checkpoint on this map has a window attached. The windows are the trade. For majors outside Bitcoin, the bill is not merely a policy story; it is a market-access story.
What to watch, in order
All of it reduces to a short checklist with dates attached. Watch for the unified Banking-Agriculture text, the precondition for everything, expected if the process is alive in the coming weeks. Watch the FISA endgame, because its resolution releases or consumes the floor time the bill needs. Watch for movement on the conflict-of-interest language, the single highest-information signal in the whole process; any reported framework there upgrades every scenario at once.
Watch the named Democratic holdouts on illicit finance, whose public statements will move before their votes do. Watch the recess date itself, the bright line that converts the slip scenario from possibility to fact. For crypto markets, the practical guidance is to trade the checkpoints, not the chatter. The committee vote was real progress and was priced as such; the next genuine repricing events are the merged text, an ethics deal, and cloture, in that order.
Everything between them is noise with a press release attached, and this summer will produce more press releases per week of actual progress than any stretch of the bill’s life so far. Keep the map open and the checkpoints marked. The CLARITY Act has a two-month window, but the window is not one thing. It is a sequence of gates, and the bill must pass through every one before the calendar closes.
As of June 11, 2026. Legislative status changes weekly; verify the current state of play before relying on this map. This article is information, not investment advice.
Gold climbed more than one percent in Asian trading Monday. A weekend pause in US-Iran hostilities pushed oil prices lower and eased fears of prolonged high interest rates.
Spot gold traded at $4,106.65 per ounce Monday, up 1.33% on the day, according to TradingView data.
Oil Retreat Lifts Precious Metals
The pause came as advisers reportedly warned Trump that the military was nearing the limit of viable targets in Iran. They also flagged concerns about draining U.S. munitions stockpiles, prompting the pause in strikes. Iran will halt its own attacks as long as Washington does the same, a senior Iranian official told Reuters.
Oil prices tumbled as much as 7% on hopes for a diplomatic resolution. That reverses recent forecasts that Brent crude could revisit its war-era peak near $120 after going above $100 at the weekend. Lower energy costs typically ease inflation, reducing the odds the Fed holds rates high for longer. Gold’s appeal fades when rates stay high since the metal pays no yield.
Traders are still pricing an 80% chance of a rate hike in September, according to the CME Group’s FedWatch Tool, which tracks futures-implied rate expectations.
Gold also Boosts Silver
Other precious metals rallied in tandem. Spot silver climbed 2.7% to $59.74 an ounce, building on a recent breakout above key resistance. Platinum gained 2% to $1,619.75, and palladium rose 2.3% to $1,271.93.
COMEX gold speculators added 4,438 contracts to their net long position in the week to July 21. That brought the total to 123,586 contracts, according to CFTC data.
The Fed’s rate decision this week will test whether the truce holds long enough to sustain the rally. A split among 104 economists over the central bank’s next move shows how uncertain the path remains. That uncertainty deepens if fighting resumes and oil prices reverse.
The post Gold Gains as US-Iran Pause Also Sends Oil Prices Lower appeared first on BeInCrypto.
Decentralized cloud storage provider Storj Labs has filed for voluntary Chapter 11 bankruptcy protection in the United States, opening a restructuring process that could test how—if at all—utility-token holders might participate in the equity of a company that emerges from bankruptcy. The filing was made in the US Bankruptcy Court for the Northern District of West Virginia, according to a statement published by Storj.
Storj says the restructuring is aimed at addressing legacy liabilities that it argues can’t be resolved through growth alone, while keeping its network running and preserving the token’s core utility. At the time of writing, STORJ appeared to have reacted mutedly to the news, trading around $0.072 based on CoinGecko data.
Key takeaways
- Storj Labs entered voluntary Chapter 11 in the Northern District of West Virginia while stating that ordinary operations and customer services will continue under court oversight.
- The company says its liabilities largely predate its current strategy and are too large to clear solely through business expansion.
- Storj management plans to propose a pathway for STORJ token holders to participate in the equity of a reorganized company, subject to bankruptcy priorities and court approval.
- Storj has not yet detailed how tokenholder eligibility would work, including whether a token snapshot, lockup, or other criteria would be used.
- STORJ’s market reaction to the filing was limited in the immediate term, with CoinGecko showing trading near $0.072 at publication time.
Chapter 11 filing framed as a legacy-liability fix
On Sunday, Storj announced that it filed for voluntary Chapter 11 “to resolve legacy liabilities and position the business for growth,” according to a post on its own website. The company indicated that day-to-day operations would not stop, and that customer services would continue during the process, but under supervision by the bankruptcy court.
Storj also said its parent company, Inveniam, would continue to support the business throughout the restructuring. That support, along with Storj’s insistence that the underlying network remains functional, is central to the company’s message to token holders: the technology and the token’s intended role should not be treated as collateral to be sidelined while legal obligations are worked through.
A proposal for tokenholder equity—without the mechanics yet
Storj’s open letter to its community argues that the restructuring need is driven by obligations from earlier stages of the company, rather than issues stemming from the present network model. The letter also states that the network is operating normally and that the token’s utility is unchanged.
Crucially, Storj said management intends to submit a plan that would create a mechanism for token holders to participate in the reorganized company’s equity. However, the company has not disclosed essential details, including how eligibility would be determined (for example, whether participation would depend on token ownership at a particular time), whether any tokens would be locked up, or what portion of equity might be offered.
Storj acknowledged that any proposal must align with bankruptcy requirements—meaning the reorganization plan has to follow established priority rules and receive court approval. That constraint matters because Chapter 11 restructurings typically involve complex treatment of different classes of creditors, equity holders, and other stakeholders. In this case, token holders are not automatically treated as equity holders, so Storj’s approach will likely hinge on how the court-approved plan defines who receives value and under what conditions.
Cointelegraph contacted Storj for additional comment but did not receive a response before publication.
Why the Storj case is a test for utility-token ownership
Storj’s bankruptcy filing is likely to draw attention beyond its community because it sits at the intersection of two unresolved questions in crypto: how regulators and courts may interpret token-related claims in insolvency, and whether “utility” token holders can convert their economic exposure into equity-like rights during a restructuring.
The company described the restructuring as a potential “ownership pathway” for STORJ token holders, which—if it moves from proposal to approved plan—could become a reference point for other projects with token distributions and decentralized networks. At the same time, uncertainties remain. Storj has not provided a framework for how a tokenholder-to-equity mechanism would be structured, and bankruptcy priorities could limit what any token holder pathway ultimately looks like.
For market participants and builders, this is also a reminder that decentralized infrastructure tokens can still carry company-level legal and financial risk. Even when networks continue operating, restructuring plans can reshape governance expectations, economic arrangements, and the distribution of future upside.
Part of a broader Chapter 11 wave in crypto
Storj’s filing comes amid a month in which multiple crypto-related businesses sought Chapter 11 protection. Earlier coverage highlighted Movement Labs filing under Subchapter V on July 15 after turmoil connected to its MOVE token, and a separate filing by Bitcoin mining pool Poolin on July 22 as it pursued a court-supervised sale of two Texas mining sites.
Meanwhile, other exchanges faced operational endpoints without filing for bankruptcy. BitMEX announced in July that it would shut down after 11 years, following announcements connected to legal action, while BitMart said it would end trading on Aug. 26 before fully ceasing operations on Jan. 31, 2027. Storj’s case differs in that it is explicitly pursuing a court-supervised reorganization with potential equity-related outcomes for token holders.
Storj itself traces its origins to 2014, when it began as an open-source peer-to-peer cloud storage concept designed to let users rent storage from network participants rather than rely on centralized providers, according to earlier reporting. That longer history may help explain why the company emphasizes continuity: the network has market credibility and operational history, and Storj is positioning Chapter 11 as a legal course-correction rather than a shutdown.
As the bankruptcy process develops, investors and token holders will be watching for what Storj’s eventual reorganization plan actually proposes—particularly the eligibility criteria for tokenholder participation and how (or whether) any proposed equity allocation can comply with Chapter 11 priorities and court approval. The next phase will also reveal whether the network’s stated “normal operation” stance can be maintained through the litigation and settlement decisions that typically follow a major restructuring filing.
Strategy has skipped four straight weekly Bitcoin (BTC) purchases, its longest buying pause in two years. The company reports second-quarter earnings Thursday, July 30, after the US market closes.
SEC filings confirm Strategy’s last purchase covered the week ending June 21. Since then, the company has sold Bitcoin instead of adding to its stack.
A Pause Built on Falling mNAV
Strategy’s stock traded at a premium to its Bitcoin holdings for years, a ratio called mNAV. That premium let the company sell shares above BTC value and grow Bitcoin per share for holders.
The model breaks once mNAV drops toward 1. New share sales then destroy value instead of creating it. mNAV touched roughly 0.99 in late June, its first sub-parity reading ever, before recovering to about 1.03. Strategy’s holdings now trade underwater against their purchase price, and management puts the real breakeven closer to 1.22.
Strategy sold 3,588 BTC in two tranches between June 29 and July 5 for about $216 million. The sales funded preferred stock dividends and topped up its cash reserve. Strategy adopted this capital framework in late June, and the reserve reached $3.225 billion by July 20.
What Thursday Could Show
Strategy posted a $14.5 billion operating loss in the first quarter on Bitcoin’s mark-to-market decline. LSEG’s consensus estimate points to a swing back to $3.86 billion in Q2 operating income, but two of the seven analysts behind that number submitted forecasts before June’s bitcoin slide.
Thursday’s results will show whether Strategy sticks with this trade-off, raising fresh capital while leaving its Bitcoin holdings untouched.
The post Strategy Earnings Loom as Bitcoin Buying Freeze Hits a Month appeared first on BeInCrypto.
Four Big Tech giants report second-quarter earnings this week, testing whether massive AI spending is translating into real returns. SK Hynix also delivers its first results since a record Nasdaq debut, and Tim Cook holds his final call as Apple’s chief executive.
The reports arrive a day before the Federal Reserve’s Wednesday rate decision, with markets already pricing a possible hike. Oil going above $100 a barrel, and subsequently dropping on a pause in hostilities, adds another layer of pressure to the week.
Microsoft and Meta report Wednesday
Microsoft and Meta open the busiest stretch on Wednesday. Analysts expect Microsoft to raise its 2026 capex forecast toward $238 billion. That would test whether spending discipline can offset rising memory chip costs.
Meta faces separate scrutiny. Investors have grown skeptical of Meta’s AI spending, rotating capital toward Google instead. Alphabet’s cloud unit grew 82% last quarter, the number Wall Street now wants Meta to match.
Apple closes an era Thursday
Apple reports Thursday alongside Amazon, in Tim Cook’s final earnings call as chief executive. Analysts expect revenue near $108.9 billion, per MarketBeat estimates. The company has leaned on a capital-light AI approach, avoiding the outsized spending pressuring rivals.
Apple stock hit a record high earlier this month as rising memory prices squeezed cheaper phone rivals.
SK Hynix reports first, on Tuesday
SK Hynix reports Tuesday, its first earnings since a record Nasdaq debut. Consensus points to 84.1 trillion won in sales, per Yonhap Infomax, which would set a new operating profit record. The report follows a volatile month, including a post-listing selloff and a KOSPI rebound past 7,000.
Brent’s climb past $100 adds another variable to the week. Investors are already juggling four earnings reports and a Fed decision in three days. Not to mention the price of oil has slid over 7% as hostilities eased in the Middle East
The post 5 Earnings Reports to Watch as Big Tech’s AI Spending Faces a Test appeared first on BeInCrypto.
Blockaid said an attacker drained about $450,000 in USDT from Garden Finance’s HTLC contracts across Ethereum, Base, Arbitrum and BNB Smart Chain.
Storj Labs, the decentralized cloud storage provider behind the STORJ token, has filed for voluntary Chapter 11 bankruptcy protection in the United States. The company says it will continue operating its network and providing customer services while it restructures legacy liabilities and seeks a court-approved pathway that could allow tokenholders to participate in the ownership of a post-bankruptcy entity.
In a statement released Sunday, Storj said the case was filed in the US Bankruptcy Court for the Northern District of West Virginia. Storj also stated that its parent company, Inveniam, will continue supporting the business during the restructuring process, subject to court oversight.
Key takeaways
- Storj Labs has entered voluntary Chapter 11, with the network and customer services expected to keep running during restructuring.
- The company is exploring a mechanism that could give STORJ tokenholders a route to equity in the reorganized business, but details remain undisclosed.
- Storj says its core network utility is unchanged and that its liabilities largely predate its current strategy.
- STORJ saw no immediate major price move at announcement time, trading around $0.072, according to CoinGecko.
Bankruptcy filing with continuity for the network
According to Storj’s filing announcement and accompanying community communication, the bankruptcy is primarily aimed at addressing legacy obligations that the company says are too significant to resolve through growth alone. Storj emphasized in an open letter to tokenholders that the platform’s operations were continuing normally and that the token’s utility would remain unchanged.
The company’s approach matters because decentralized infrastructure businesses rely on ongoing participation and service continuity. While Chapter 11 typically involves constraints around certain contracts and expenditures, Storj is positioning its restructuring as compatible with maintaining the storage network’s day-to-day functioning through the period of court supervision.
Tokenholders and the challenge of an equity pathway
Storj’s most notable claim is that management intends to propose a mechanism for STORJ tokenholders to participate in the equity of the reorganized company. The company, however, did not provide specifics on how eligibility would be determined—whether through a token snapshot, a lockup requirement, or other criteria. It also did not disclose what portion of equity, if any, might be reserved for tokenholders.
Storj acknowledged that any plan must comply with bankruptcy priority rules and receive court approval. That point is central: equity participation for token holders in bankruptcy typically depends on how the token’s legal and economic status is treated in the restructuring process, and on how the reorganization plan is structured relative to creditor claims.
The situation effectively becomes a live test of whether utility-token holders can secure a meaningful ownership role in a company emerging from Chapter 11, especially when the token’s utility is positioned as separate from the company’s preexisting liabilities.
Market reaction and what investors should watch
STORJ did not show an immediate sharp reaction following the news. CoinGecko data, as cited in the announcement coverage, indicated STORJ was trading around $0.072 at the time of writing.
For investors and network participants, the more consequential variable is unlikely to be the short-term token price—rather, it is the eventual shape of the Chapter 11 plan. The missing details from Storj’s statements include the criteria for tokenholder eligibility, the form participation might take (equity allocation versus other compensation structures), and whether there will be any valuation framework tied to token holdings.
As the process moves forward, readers should focus on court filings and confirmed reorganization terms: how Storj categorizes its liabilities, how claims are prioritized, and whether the proposed “shared ownership” pathway survives the restructuring review with creditor and court buy-in.
A broader pattern of crypto Chapter 11 filings
Storj’s bankruptcy comes amid a period in which at least two other crypto-related firms sought Chapter 11 protection. Movement Labs filed under Subchapter V on July 15 following months of turmoil connected to its MOVE token, while Bitcoin mining pool Poolin filed on July 22 as it pursued a court-supervised sale of two Texas mining sites. Separately, BitMEX announced in July that it would shut down after 11 years, choosing an orderly wind-down rather than filing for bankruptcy.
This clustering of Chapter 11 actions highlights a sector-wide reality: decentralized and blockchain-adjacent businesses still depend on traditional legal and financial structures when legacy obligations become unmanageable. For utility-token networks, that can create a difficult tension between keeping infrastructure running and negotiating outcomes that may reshape the relationship between token economics and corporate ownership.
What happens next for Storj
Storj’s next steps—especially the specifics of any tokenholder equity mechanism and the court-approved reorganization plan—will determine whether the company’s “shared ownership” vision is feasible within bankruptcy priorities. Until then, tokenholders will be watching for concrete filing details rather than assurances, and for confirmation that network continuity remains intact under court oversight.
Oil prices tumbled Sunday after a senior Iranian official told Reuters that Tehran will halt its own attacks as long as the United States keeps its bombing pause in place. The move eased nearly two weeks of escalating conflict.
The price of Brent crude oil fell over 7% to touch a low of $90.9 a barrel. West Texas Intermediate crude oil also dropped as much as 7% to touch $84.
Tehran Sets Conditions for Oil
The Iranian source described Tehran’s stance as “attack for attack.” Iran will stop its operations once the US stops, and Tehran has already passed that message to Washington, according to the official’s account.
“There is more scepticism than optimism about the halt in attacks. The prevailing view is that the pause is tactical rather than genuine.”
The pause follows Washington’s decision to suspend its bombing campaign after 13 nights of US strikes. Advisers reportedly warned President Donald Trump that the military was running low on viable targets. They also raised concerns about depleting weapons stockpiles.
US Ambassador to the United Nations Mike Waltz said Trump chose the pause to give diplomacy room. Iranian officials voiced more doubt than hope that the calm will last.
Fed Watching Inflation Risk
HSBC US rates strategist Dhiraj Narula said pricier oil has revived bets that the Federal Reserve may hold rates higher for longer. He noted inflation expectations have stayed contained so far. Narula credited firm Fed messaging on price stability for that resilience, which has kept the energy rally from feeding into longer-term forecasts.
Brent held near $92 a barrel into Monday, confirming Sunday’s drop stuck rather than snapping back. Whether the halt lasts through the week will test if Tehran’s skepticism proves right, or if the pause turns into lasting de-escalation.
The post Oil Slides 7% as Iran Signals It Will Halt Attacks If US Pause Holds appeared first on BeInCrypto.
Decentralized cloud storage provider Storj Labs has filed for Chapter 11 bankruptcy protection. The company said it plans to keep its network running while restructuring legacy liabilities and exploring an ownership pathway for STORJ tokenholders.
On Sunday, Storj said it filed the voluntary case in the US Bankruptcy Court for the Northern District of West Virginia. The company said ordinary operations and customer services would continue during the process, subject to court oversight, while its parent company, Inveniam, would continue to support the business.
The restructuring could become an unusual test of whether utility-token holders can participate in the ownership of a company emerging from bankruptcy.
In an open letter to its community, Storj said its liabilities largely predate its current strategy and are too substantial to resolve through business growth alone. It said the network continues to operate normally and its token’s utility is unchanged.
STORJ showed no significant immediate price reaction following the announcement, trading around $0.072 at the time of writing, according to CoinGecko.
Storj explores equity pathway for tokenholders
Storj said management intends to propose a mechanism allowing tokenholders to participate in the reorganized company’s equity.
However, Storj has not disclosed how tokenholder eligibility would be determined, whether participation would involve a token snapshot or lockup, or how much equity might be allocated. The company acknowledged that any plan must follow bankruptcy priorities and receive court approval.
Cointelegraph reached out to Storj for comment but did not receive a response before publication.
Storj is among the crypto industry’s longest-running decentralized infrastructure projects. Storj began in 2014 as an open-source peer-to-peer cloud storage project that sought to let users rent storage from other network participants rather than rely on centralized providers.
Related: BitMEX hit with 623 BTC lawsuit on day it announces shutdown
Storj’s bankruptcy filing comes in the same month as at least two other crypto companies sought Chapter 11 protection.
Movement Labs filed under Subchapter V on July 15 after months of turmoil linked to its MOVE token, while Bitcoin mining pool Poolin filed on July 22 as it pursued a court-supervised sale of two Texas mining sites.
BitMEX also announced in July that it would shut down after 11 years. Still, the derivatives exchange did not file for bankruptcy, instead opting for an orderly wind-down following a strategic review.
Magazine: CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest
With the August recess deadline closing in, U.S. lawmakers are still negotiating the Clarity Act—an ethics-focused proposal tied to digital asset activity that would also restrict officials from issuing or sponsoring crypto. Senate Majority Leader John Thune has signaled skepticism that there are enough votes for passage, but said a floor vote could still be pursued to “get Clarity started” and test support.
The bill is also at the center of a deeper political struggle over enforcement. Democrats want ethics rules to be enforced by state attorneys general, while the White House and Republicans have advanced an approach that hinges on the federal Attorney General—an official appointed by President Trump. The dispute, along with provisions that Democrats criticize as giving the President special leeway, is leaving the legislation in limbo even as industry and law enforcement groups begin to line up behind the latest version.
Key takeaways
- Clarity Act momentum depends less on technical drafting and more on whether lawmakers can reconcile a major enforcement disagreement and the scope of presidential exceptions.
- Senate Majority Leader John Thune doubts the bill has the votes for passage, but may still move toward a vote to gauge support.
- Institutional backers—including Fidelity and Charles Schwab, and a statement of support from Goldman Sachs CEO David Solomon—suggest the bill remains attractive to parts of traditional finance despite imperfections.
- Outside politics, crypto infrastructure news continues with BitMEX announcing it will shut down operations in September after 11 years, while S&P Dow Jones and Pantera launch an institutional digital asset benchmark index that excludes Bitcoin and XRP.
Clarity Act: ethics rules collide with enforcement politics
At the heart of the Clarity Act negotiations is a proposed ethics deal that would bar U.S. officials from issuing or sponsoring digital assets. However, the plan also includes exceptions Democrats say amount to a “get out of jail free” arrangement for the President. One sticking point raised in reporting is that certain rules would expire on the day President Trump is scheduled to leave office in 2029—an element that has been criticized as undermining the durability of the restrictions.
The enforcement mechanism is another major fault line. The ethics provisions would be administered by the Attorney General appointed by Trump, but Democrats have pushed for state attorneys general to enforce the rules instead. That expansion would create a broader enforcement footprint across jurisdictions—something Republicans and the White House appear unlikely to support, especially given the likelihood that the President would resist changes that empower many independent state-level prosecutors.
According to Cointelegraph, Senate Majority Leader John Thune does not believe the bill has enough votes to pass yet. Still, he indicated he may bring it to the floor to “get Clarity started” and determine where the remaining votes stand as the August recess deadline nears.
Support from institutions and law enforcement—while trust remains strained
While political factions remain divided, signals of support from outside government have started to build. The White House described the bill as the “most comprehensive and wide-ranging ethics provision in history,” while Democratic Senator Ruben Gallego characterized it with unusually blunt language, calling it neither serious nor acceptable. Negotiations are reportedly continuing in an effort to find wording that both sides can accept.
Financial institutions have also weighed in. Goldman Sachs CEO David Solomon acknowledged the proposal is “not perfect,” but still supported it. Cointelegraph also reported that Fidelity and Charles Schwab have backed the initiative. Taken together, these endorsements suggest the bill’s advocates see it as a workable baseline for reducing perceived conflicts—particularly for firms that want clearer conduct expectations involving digital assets.
Law enforcement signals have been another ingredient. The National Fraternal Order of Police said the latest version of the BRCA—described as protecting developers of decentralized protocols—would not impede investigations into money laundering and fraud. That point matters for the bill’s political sell: proponents want ethics restrictions to target conflicts of interest without unintentionally constraining legitimate enforcement activity.
Still, the level of distrust between parties appears to be the dominant constraint. Negotiators may be able to close gaps on implementation details, but the bill’s most consequential disagreements—presidential exceptions and who can enforce the rules—go to the core of each side’s incentives.
What the odds say—and what to watch next
Market odds also reflect uncertainty. According to Polymarket, the odds of the Clarity Act passing this year are currently 38%. Even if a floor vote is scheduled, that number implies the bill could still face serious headwinds, particularly if negotiations fail to produce a package that enough senators can defend publicly.
Investors and market participants should watch for two developments in the near term: whether the enforcement framework shifts meaningfully toward a multi-enforcer model, and whether the presidential exception provisions remain intact or are narrowed. Those items likely determine whether additional lawmakers feel comfortable turning a political compromise into a concrete vote.
BitMEX to shut down, highlighting consolidation in derivatives trading
Elsewhere in crypto policy and markets, BitMEX—one of the early pioneers of crypto derivatives trading—announced it will shut down operations in September after 11 years. BitMEX launched in 2014 and gained notoriety for introducing 100x leverage perpetual swaps.
But in recent years, volumes fell as competition intensified, with major centralized exchanges such as Binance and fast-growing decentralized venues like Hyperliquid taking share. CryptoQuant CEO Ki Young Ju said BitMEX’s share of the Bitcoin futures market has dropped to 0.08%, with about $84 million in daily trading volume.
Ju described the closure as an industry “torch” moment—an exchange that helped shape the market now stepping aside for the next wave it inspired. Cointelegraph also reported that BitMEX’s utility token, BMEX, fell sharply after the shutdown announcement. The same day, a class action lawsuit surfaced alleging that BitMEX fraudulently engineered liquidations to seize trader collateral. BitMEX denied the accusations and said it previously defended itself successfully against similar claims.
Analysts tied the shutdown to broader structural changes. Cointelegraph reported restructuring adviser Roshan Dharia saying BitMEX’s demise reflects accelerated consolidation. A quoted passage highlighted that the top five platforms control an estimated 80% of global spot volume, squeezing mid-tier operators as structural headwinds—rather than temporary cycles—reduce margins and limit scaling pathways.
That consolidation narrative continued quickly: Cointelegraph also reported that BitMart later announced it would close in the coming months, underscoring how pressure is spreading across crypto venues rather than concentrating on a single platform.
Institutional benchmarks expand: S&P and Pantera launch a crypto index
Index providers are also moving deeper into digital assets. S&P Dow Jones Indices and Pantera Capital launched the S&P Pantera Digital Asset Index, positioned as an institutional benchmark that tracks major crypto assets but excludes Bitcoin and XRP.
According to Cointelegraph, the index is designed to serve institutions by filtering blockchains based on minimum thresholds for protocol revenue, market capitalization, and liquidity. The index launched with 18 constituents. Ether (ETH), BNB (BNB), Solana (SOL), TRON (TRX), and Hyperliquid (HYPE) make up the five largest holdings, while Bitcoin (BTC) and XRP remain the largest non-constituents.
The effort fits a broader industry push for institutional-grade benchmarks. Cointelegraph cited related products such as the Nasdaq Crypto Index US ETF, a Franklin Crypto Index ETF, and a Coinbase Store of Value Index—signaling that tradfi-style benchmarking continues to shift from concept to increasingly concrete infrastructure.
Robinhood prediction markets grow as regulators focus on event contract specificity
On the U.S. consumer-facing side, Robinhood is reportedly discussing an expansion of its prediction markets business by integrating yes-or-no event contracts supplied by Crypto.com. Cointelegraph noted that Robinhood began prediction markets in March 2025, initially facilitated by Kalshi to satisfy compliance requirements from the U.S. Commodity Futures Trading Commission (CFTC).
At the same time, regulatory scrutiny is intensifying around how event contracts are certified. Cointelegraph reported that the CFTC issued another warning that platforms must be more specific rather than relying on broad template-style certifications covering multiple potential variations of events. The regulatory push matters because it can constrain how quickly providers scale new contract templates or broaden the range of covered scenarios.
Cointelegraph also referenced legal commentary linking potential clarity on market structure oversight to the Clarity Act, framing the ethics legislation as possibly supportive of the CFTC’s ability to monitor prediction market growth.
Across governance, exchanges, and benchmarks, the throughline is clear: crypto is entering a phase where regulation, institutional infrastructure, and market structure pressures are reshaping outcomes. For the Clarity Act specifically, the next signals to monitor are whether negotiations produce a durable enforcement compromise and whether senators are willing to translate that compromise into votes before the August recess deadline.
Clarity may get a vote, but don’t get your hopes up yet
Despite wealthy memecoin entrepreneur Donald Trump agreeing to an ethics deal, the Clarity Act is floundering as the August recess deadline looms.
Senate Majority Leader John Thune doesn’t believe the Act has the votes to pass just yet, but may bring it to a vote anyway to “get Clarity started. We’ll see where the votes are.”
The ethics deal would prohibit all US officials from issuing or sponsoring digital assets, but contains some “get out of jail free” provisions for the President that the Democrats are unhappy with, including the fact the rules expire the day he is scheduled to leave office in 2029.
The ethics provisions will also be enforced by the Attorney General that Trump appointed. The Democrats instead want state Attorney Generals to enforce it — but Trump seems unlikely to agree to empower dozens of state AGs to attempt to prosecute him.
The White House described the bill as the “most comprehensive and wide-ranging ethics provision in history,” while Democratic Senator Ruben Gallego described it as a “piece of shit” and “not a serious effort.”
Negotiations are continuing to find a deal both sides can live with, but given the lack of trust, it’s not going to be easy to find a compromise.
Goldman Sachs CEO David Solomon conceded the bill is “not perfect” but has supported it anyway, along with Fidelity and Charles Schwab who represent many trillions in assets under management each.
Law enforcement organizations have also begun to signal support, with The National Fraternal Order of Police representing hundreds of thousands of members, stating the latest version of the BRCA (which protects developers of decentralized protocols) would not impede investigations into money laundering and fraud.
The odds of the bill passing this year are at 38% on Polymarket.
BitMEX to shut down after 11 years as class action launched against it
BitMEX, one of the pioneers of cryptocurrency derivatives trading, announced it will shut down operations in September after 11 years.
BitMEX launched in 2014 and became known for introducing the 100x leverage perpetual swaps.
In recent years volumes have tanked increased competition from major exchanges like Binance and decentralized protocols like Hyperliquid.
CryptoQuant CEO Ki Young Ju said BitMEX’s share of the Bitcoin futures market has fallen to just 0.08%, with roughly $84 million in daily trading volume.
“It was a great exchange that helped shape the industry, and now it is passing the torch to the next generation of exchanges it inspired,” Ju said.
BitMEX’s utility token BMEX collapsed in value after the announcement. That same day, news emerged of a class action lawsuit accusing the crypto derivatives platform of fraudulently engineering customer liquidations to seize traders’ collateral. BitMEX denied the allegations and said it had successfully defended itself against similar claims in the past.
Restructuring adviser Roshan Dharia told Cointelegraph the exchange’s demise shows the industry is consolidating.
The top five platforms now control an estimated 80% of global spot volume, leaving mid-tier and regional exchanges with shrinking margins and no viable path to scale… The headwinds are structural, not cyclical.
As if to undescore the point, BitMart subsequently announced it would also close in the coming months.
S&P launches blockchain fundamentals index for digital assets
S&P Dow Jones Indices and Pantera Capital have launched a digital asset index that tracks the major crypto assets — but doesn’t include Bitcoin or XRP.
The S&P Pantera Digital Asset Index is designed to be the benchmark crypto index for institutions, but it screens out blockchains based on minimum thresholds for protocol revenue, market capitalization and liquidity.
The index launched with 18 constituents, with Ether (ETH), BNB (BNB), Solana (SOL), TRON (TRX) and Hyperliquid (HYPE) as its five largest holdings, while Bitcoin (BTC) and XRP (XRP) are the largest non-constituents.
The latest index follows a broader industry push to develop institutional-grade benchmarks for digital assets, with similar products including the Nasdaq Crypto Index US ETF, the Franklin Crypto Index ETF and the the Coinbase Store of Value Index among others.
Robinhood to expand prediction markets as CFTC issues new warning
Robinhood is reportedly discussing plans to expand its existing prediction markets offerings with crypto exchange Crypto.com.
According the Wall Street Journal the talks involve integrating yes-or-no event contracts supplied by Crypto.com. Robinhood launched its prediction markets in March 2025, initially facilitated by Kalshi in order to comply with regulatory requirements from the US Commodity Futures Trading Commission (CFTC).
Bernstein analysts last week raised its price target on Robinhood (HOOD) stock to $160 from $130 per share, based on the company’s outlook for prediction markets and tokenized equities.
Meanwhile the CFTC, which aims to become the primary regulator of prediction markets, issued a shot across the bow of providers last week, telling platforms they need to get a lot more specific about event contracts certifications.
The advisory addresses concerns about the practice of submitting broad, template-style certifications that combine many potential event contract variations into a single certification.
Carl Kennedy, a partner at New York law firm Katten Muchin, also told a House Agriculture Committee hearing last week, that the CLARITY Act could help the CFTC’s efforts to oversee the “explosive growth of prediction markets.”
Balaji’s Network School turns to Kazakhstan amid Malaysia setback
Balaji Srinivasan’s Network School, a community of “digital nomads,” is eyeing a new campus in Kazakhstan after its Forest City campus had its business license in Malaysia revoked over alleged premises-use violations.
A memorandum of understanding was signed between Kazakhstan’s relevant Minister Zhaslan Madiyev and Srinivasan to establish the first Network School campus in the country, which aims to become a digital hub.
The School was forced out of Johor in Malaysia, following a controversy in Malaysia over allowing Israeli dual citizens to attend. The Muslim majority country has no diplomatic relations with Israel. Despite an investigation finding no visa violations, the Network School was ordered to shut down on another pretext.
Dragonfly Capital managing partner Haseeb Qureshi said the drama has validated Balaji’s Network State thesis.
“The whole idea of a network state is taking a dense group of talent and capital, and collectively negotiating with states. The Malaysia drama set up Balaji to negotiate better terms with another state to copy and paste the network there.“
Winners and losers
At the end of the week, Bitcoin (BTC) is at $65,395, Ether (ETH) is at $1,958, and XRP (XRP) is at $1.11. The total market cap is at $2.24 trillion according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin winners of the week are Audiera (BEAT), which gained 53%, Shinba Inu (SHIB) with a 29% gain, and Venice Token (VVV), which increased 19%.
The top three altcoin losers of the week are DeXe (DEXE), which lost 89%, Midnight (NIGHT), which fell 26%, and Pyth Network (PYTH), which dropped 10%.
Prediction of the Week
Bitcoin will get ‘lift’ from Hyperliquid, Robinhood in next crypto bull market
Bitcoin (BTC) is “finally showing signs of a bottom,” according to Matt Hougan, chief investment officer at Bitwise.
Houghan predicts that TradFi integrations, particularly Hyperliquid and Robinhood, will drive the next crypto bull market, and the resulting tide should “lift” the largest cryptocurrencies including Bitcoin and Ether.
Houghan believes crypto is bringing major benefits like 24/7 trading to traditional markets, and noted that today “nearly half the volume on Hyperliquid is in conventional assets like oil, silver, and the S&P 500 [and] it’s expanding into spot commodities, prediction markets, and options,”
Bitwise data also suggests apparent demand for BTC is showing signs of reversal. The metric measures the difference between newly-mined BTC and the supply inactive for at least one year.
Top FUD of the Week
Home invasions became most common crypto wrench attack in H1 2026: CertiK
Home invasions became the most common form of crypto wrench attacks during the first half of 2026, rising to 20 publicly reported incidents from just one a year earlier, according to blockchain security firm CertiK.
On Thursday, CertiK said it verified 52 wrench attacks worldwide in the first half of 2026, up 33.3% from 39 incidents during the same period in 2025. Kidnappings rose to 16 from 12, while robberies declined from five incidents to one.
CertiK said the recorded financial exposure linked to the attacks reached about $124.1 million, up from $10.5 million a year earlier.
The increase in home invasions suggests criminals are increasingly bypassing digital safeguards by physically coercing crypto holders and their families.
Hackers steal $31.6M in 2 crypto bridge attacks within 7 hours
Hackers stole more than $31.6 million across two unrelated crypto bridge exploits spaced just hours apart, targeting bridges operated by decentralized perpetual exchange AFX and Verus Protocol.
According to Blockaid, AFX, a decentralized perpetual exchange operating on Arbitrum, reportedly lost $24.15 million on Wednesday through a hack targeting one of its cross-chain bridges. Hours later, Blockaid said it detected an exploit targeting the Verus Ethereum Bridge that resulted in about $7.5 million in crypto being stolen.
“Another bridge, another exploit. Bridges will always be a weak link, until security is upgraded,” onchain investigator TheCrypticWolf said in a post on X.
Ethereum ETFs close week in red, end 5-day inflow streak
US-listed spot Ethereum exchange-traded funds (ETFs) logged $70.62 million in net outflows on Friday, ending a five-day inflow streak.
Ethereum funds saw $211.25 million in net inflows over the previous five sessions from July 17, according to SoSoValue data. They still posted $103.9 million in net inflows for the week ended Friday.
Despite the outflows, Ethereum ETFs extended their weekly inflow streak to three straight and have attracted $337.74 million in net inflows so far in July.
The Bitcoin ETFs reversed gains made earlier in the week to end up with $33.9 million of inflows.
Top Magazine Stories of the Week
Both parties say they want US crypto market structure legislation, but a dispute over ethics rules and who enforces them is becoming the bill’s biggest obstacle.
A Bitcoin development roadmap that addresses quantum computing risks could see the price surge by “double digits” very quickly, according to Charles Edwards.
Are the fears of an AI driven hacking epidemic totally overblown, or is this just the lull before the storm?
Cointelegraph publishes long-form journalism, analysis and narrative reporting produced by Cointelegraph’s in-house editorial team with subject-matter expertise. All articles are edited and reviewed by Cointelegraph editors in line with our editorial standards. Content published in here does not constitute financial, legal or investment advice. Readers should conduct their own research and consult qualified professionals where appropriate. Cointelegraph maintains full editorial independence.
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