Coinbase Ventures maintained its lead among crypto-focused venture capital investors in the first half of 2026, completing the most funding deals in CryptoRank’s dataset. The Coinbase exchange’s corporate VC arm recorded 30 deals from January through June, edging out Animoca Brands (19), a16z (18), and Tether (15), according to CryptoRank’s funding analytics.

While top investors kept showing up, the wider market remains under pressure. Total funding for crypto companies dropped to $1.4 billion in June, down from $3.8 billion in April—an indication that deal activity is still more fragile than headline counts alone suggest. Even so, July brought a modest rebound, with $456 million raised across 12 funding rounds so far.

Key takeaways

• Coinbase Ventures led deal counts in H1 2026 with 30 investments, followed by Animoca Brands (19), a16z (18), and Tether (15), per CryptoRank.
• Funding volumes remain depressed: June totals fell to $1.4 billion (down from $3.8 billion in April), alongside fewer rounds (61 in June vs. 89 in May).
• DeFi, payments, and AI dominate VC interest over the past year, collectively accounting for hundreds of fundraising rounds.
• Investor participation narrowed: unique investors fell to 242 in June from 452 in October 2025.
• Geography is uneven: US-based VCs led in capital deployed over six months, while a large share of funds came from undisclosed locations.

Coinbase Ventures stays on top as deal volume softens

Across the first half of 2026, the most active crypto-focused investors by number of deals were concentrated among a handful of firms. Coinbase Ventures’ 30 transactions placed it above Animoca Brands, a16z, and Tether in CryptoRank’s tally.

Looking beyond H1, CryptoRank data shows that Coinbase Ventures also remained highly active over the previous 12 months, completing 75 deals—more than any other listed contender. Animoca Brands followed with 40 deals, YZi Labs (formerly Binance Labs) with 39, GSR with 31, and a16z with 30.

Those sustained activity levels stand in contrast to softer market conditions. Crypto VC fundraising fell to $1.4 billion in June, down 63% from $3.8 billion in April. Deal counts declined as well: June saw 61 fundraising rounds, compared with 89 in May.

Still, the pattern is not uniformly downward. CryptoRank data indicates a slight recovery relative to earlier in the year: April’s totals included a two-year low of $698 million across 71 fundraising rounds, and June—while weaker than May—did not repeat that extreme low.

Where the capital goes: DeFi, payments, and AI lead

Crypto VC interest over the past year skewed heavily toward three categories: decentralized finance, payments, and AI-linked crypto initiatives. According to CryptoRank, DeFi protocols accounted for 216 fundraising rounds, payments startups logged 131 rounds, and AI-crypto companies raised through 128 rounds.

Infrastructure also remained a consistent focus. CryptoRank reports 110 funding rounds for infrastructure providers during the same period, while all other sectors recorded fewer than 100 rounds.

For investors and founders, this distribution matters because it suggests VC capital is still flowing toward applications and rails rather than exclusively chasing speculative narratives. Even during a period of reduced fundraising totals, the categories attracting the most rounds tend to have clearer product pathways—whether that’s enabling on-chain finance, improving transaction and settlement use cases, or integrating AI capabilities into crypto systems.

Shifts inside the portfolio: Coinbase Ventures’ thematic exposure

Coinbase Ventures’ participation over the last six months shows a thematic pattern aligned with broader market preferences, though with a degree of specificity. CryptoRank data indicates Coinbase Ventures took part in:

• Seven investment rounds linked to payment protocols
• Four rounds supporting DeFi projects
• Three rounds tied to infrastructure and real-world asset tokenization

That mix reflects a VC approach that emphasizes core crypto primitives and monetizable use cases. At the same time, the relatively small number of rounds in each subcategory (for Coinbase Ventures’ own activity) highlights that even top investors are not scaling uniformly—rather, they are selecting fewer bets while still covering key themes.

Fewer participants, different geography, and what to watch next

Even as deal counts remained steady for certain lead investors, the broader ecosystem saw reduced participation. CryptoRank shows the number of unique investors in June fell to 242 from 452 unique investors in October 2025. That contraction suggests a more selective capital environment: fewer players are deploying money, even if some large funds continue to originate deals.

Geography provides another lens on how VC behavior is concentrating. Over the past six months, US-based VCs contributed $5.8 billion, while Australia-based VCs deployed $3.6 billion. CryptoRank also reports that more than $11.6 billion was invested from undisclosed locations, underscoring how opaque parts of the fundraising landscape remain.

With July activity already showing $456 million raised across 12 funding rounds so far, the immediate question for market participants is whether this qualifies as a durable rebound or merely a short-term uptick. CryptoRank’s June-to-July movement suggests conditions can improve after declines, but the drop in unique investors—and the still-low June fundraising level versus April—signals that conviction and breadth in the VC market may take longer to fully return.

Tokyo-based SBI VC Trade will begin accepting applications Thursday for a Japanese yen-denominated stablecoin lending service offering an initial annualized rate of 3% on JPYSC lent for 12 weeks.

Customers will lend JPYSC to the SBI Holdings subsidiary from Thursday and receive the tokens back with a lending fee at maturity, the company said in a Monday press release. At the advertised rate, the gross return over the 12-week term would be about 0.69%, before tax.

The company said the product pays more than the 0.325% to 1% annual rate SBI cited for ordinary yen deposits. Still, it is not a bank deposit, is not covered by deposit insurance and generally cannot be canceled early.

JPYSC lent to SBI VC Trade will also fall outside statutory asset segregation requirements, meaning customers could lose some or all of their tokens if the company goes bankrupt, according to the release.

The launch gives JPYSC a new use case just weeks after SBI introduced the trust-structured yen stablecoin on June 24, with regulated stablecoins evolving from payments to yield-bearing instruments in Japan. SBI VC Trade previously launched stablecoin lending services in Japan in March for Circle’s dollar-denominated USDC (USDC) stablecoin. 

SBI claimed this was the first service to allow Japanese customers to lend their yen-denominated stablecoins in exchange for passive yield.

By offering yields “exceeding” the typical annual rate for yen deposits, SBI anticipates an expansion among yen-denominated stablecoin holders and said the service will be “core” for realizing the future of onchain finance. 

JPYSC lending service features. Source: sbivc.co.jp 

Solana partnership widens onchain ambitions

SBI is separately building the infrastructure it hopes will eventually move JPYSC beyond its own platform and into a broader market for tokenized assets and cross-border settlement.

SBI Holdings announced a strategic partnership with the Switzerland-based Solana Foundation on Monday, aiming to build a Japanese onchain financial market.

As part of the partnership, the Solana Foundation will join SBI R3 Japan, which will be renamed SBI Solana Global and issue a new growth strategy focused on the yen-backed stablecoin.

The initiative aims to position Japan as a leading hub for onchain finance, while expanding stablecoins and tokenized real-world asset usage across Asia. It also includes building more infrastructure for institutional onchain financial services, cross-border payments and payment infrastructure for AI agents.

Related: Metaplanet explores Bitcoin-backed digital credit with JPYC in Japan

Japanese PM reaffirms support for crypto and Web3 startups: report

The stablecoin lending service’s launch follows positive regulatory signals for Japanese Web3 startups and cryptocurrency companies.

The Japanese government plans to strengthen support for crypto and Web3 startups, Japanese Prime Minister Sanae Takaichi reportedly said during a video address at the WebX 2026 conference.

Some of the promised measures include increased funding from government-backed funds and easing of regulatory requirements.

In May 2025, Takaichi introduced the “Startup Total Power Package,” which outlined policies tied to increased governmental funding to accelerate startups. The package builds on the “Five-Year Startup Development Plan” formulated in 2022, which aims to increase investments in startups to 10 trillion yen by the fiscal year 2027.

In April 2026, the Japanese government amended the Financial Instruments and Exchange Act to classify crypto assets as financial instruments, moving digital assets out of the experimental payments category into the same league as its stock market.

Magazine: Dubai tops Asian crypto hubs, Taiwan passes crypto laws: Asia Express

U.S. President Donald Trump has urged senators to move quickly on the Digital Asset Market Clarity (CLARITY) Act, framing the push as a tribute to the late Senator Lindsey Graham, who died over the weekend. The timing matters: the Senate is expected to be in session for only about four more weeks before a month-long August state work period, leaving a narrow window for any major legislation to clear.

Trump’s appeal, posted Monday on Truth Social, highlights Graham’s long-running support for the bill and calls on lawmakers to pass CLARITY “in honor of” the South Carolina senator. Graham, 71, served in the Senate since 2003. Following his death—and reports that another Republican senator, Mitch McConnell, is hospitalized—Republicans’ effective majority has narrowed to 51-47, raising the odds that the bill will need additional Democratic backing to reach the 60 votes typically required in the Senate.

Key takeaways

• Trump urged the Senate to pass the CLARITY Act, citing Lindsey Graham’s support before his death.
• The Senate’s working balance is tighter than before: Republicans are reported at 51-47, making bipartisan support more likely.
• CLARITY is expected to shift regulatory enforcement authority for parts of the digital-asset market from the SEC toward the CFTC.
• Many Senate Democrats have indicated they oppose the bill without additional ethics safeguards related to potential conflicts of interest.
• With only a few weeks left in the current session before August recess, lawmakers have limited time to resolve outstanding objections.

Trump ties CLARITY push to Graham’s legacy

In a Monday Truth Social post, Trump said Graham had been “a big supporter” of the CLARITY Act and called on senators to advance the legislation. The president also referenced the senator’s death, effectively urging legislators to treat the bill’s progress as a commemorative step.

Graham’s record with the CLARITY Act appears less direct than Trump’s framing suggests. In the current Congress, Graham is reported to have not served on the Senate banking committee or the agriculture committee, and he did not cast any votes advancing CLARITY. Cointelegraph previously reported that he did not appear to make public statements specifically supporting CLARITY during the current session. Still, he voted in favor of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in 2025, indicating he has supported certain crypto-related legislative efforts in recent years.

What CLARITY would change for crypto regulation

The central policy bet behind CLARITY is a reallocation of regulatory oversight. The bill is expected to move much of the authority for enforcing digital-asset regulation from the U.S. Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC). For market participants, that shift matters because it would likely change which regulator leads on enforcement posture, interpretations of market structure, and how compliance expectations are set.

However, the legislative path is not just about jurisdiction—it’s also about trust and process. Senate Democrats have previously signaled they are unlikely to support the legislation without provisions aimed at addressing possible conflicts of interest involving lawmakers and the crypto industry. Some lawmakers have pointed to Trump’s ties to digital asset-related projects, including his memecoin activity, as well as the family’s World Liberty Financial company, as part of the rationale for demanding ethics-related changes before they back the bill.

Earlier coverage from Cointelegraph noted that this ethics and conflict-of-interest debate is part of why the bill could face resistance on the Senate floor.

https://cointelegraph.com/news/ethics-democrats-market-structure-clarity-bill-markup

Senate math tightens as leadership and votes are tested

In practical terms, CLARITY’s chances depend on the ability to assemble enough votes quickly. With Graham’s death—and with Mitch McConnell reported hospitalized—Republicans’ current majority has been reduced to 51-47. That arithmetical squeeze increases the likelihood that Democratic support will be necessary to hit the 60-vote threshold.

Cointelegraph reports that it sought comment from the offices of Senators Tim Scott, Kirsten Gillibrand, and Angela Alsobrooks regarding Trump’s remarks but did not receive an immediate response.

Support from within the Republican ranks appears at least partially energized by Trump’s message. Senator Cynthia Lummis, in a Monday post on X, said she supported Trump’s comment and described Graham as “passionate about ensuring that American leadership stayed at the forefront of everything – including digital assets.” Cointelegraph also contacted Lummis’ office to request clarification about Graham’s position on digital assets, but received no immediate reply.

The clock is running before August recess

Even if sentiment shifts, lawmakers still face a calendar constraint. The Senate has around four weeks left in session before a month-long state work period in August. That limited schedule creates pressure to resolve both the political and procedural issues surrounding CLARITY—particularly the ethics concerns that have been signaled by Senate Democrats.

What remains uncertain is whether the bill can be moved fast enough to secure the additional votes required, and whether any amendments or guarantees on conflicts-of-interest questions can satisfy enough skeptics to reach the needed margin. Investors and builders watching U.S. crypto regulation will likely focus on whether the debate turns from jurisdiction alone to the specific standards Democrats demand—since that is where the most durable resistance appears to be forming.

For now, the key question is whether Trump’s public push—and the loss of a major backer—changes the Senate’s willingness to compromise on ethics provisions, or whether the vote count still stalls despite the political momentum. With the legislative window shrinking, the next developments from the Senate floor and committee actions will be the most important indicators of whether CLARITY is headed to passage or remains stuck in partisan friction.

Reed Smith has introduced Aquarius, an automated compliance platform aimed at helping crypto companies meet the EU’s Markets in Crypto-Assets (MiCA) requirements as Europe moves into a more stringent oversight phase. The law firm says the tool is designed to streamline recurring regulatory work by combining automated workflows with legal expertise.

According to Reed Smith, Aquarius can support tasks such as crypto-asset classification, drafting regulatory white papers, conducting due diligence, and producing environmental, social and governance (ESG) disclosures. The firm also plans to extend the platform beyond the EU, targeting compliance regimes in the United Kingdom, the United Arab Emirates, Hong Kong, and Singapore.

Key takeaways

• Reed Smith’s Aquarius platform automates parts of MiCA compliance, including classification, white paper drafting, due diligence, and ESG disclosures.
• The launch arrives as the EU ends the MiCA transition period and companies lose reliance on temporary national exemptions tied to longer grandfathering arrangements.
• Even after authorization, firms—particularly custodians—face ongoing supervisory scrutiny over cybersecurity, governance, and asset protection.
• EU stablecoin rules are reportedly under review, with policymakers weighing potential revisions in light of international developments such as the U.S. GENIUS Act.

MiCA oversight shifts after the transition window

Reed Smith’s announcement comes shortly after the EU’s MiCA transition period ended on July 1, a date that marked the point when many firms could no longer depend on temporary national exemptions in jurisdictions that had adopted full grandfathering. MiCA is designed to establish a unified licensing and operational framework across the bloc’s 27 member states, covering areas such as licensing, consumer protection, and requirements for digital asset service providers.

For businesses planning to launch or scale in Europe, that change shifts compliance from a “prepare for entry” exercise into a more continuous operational requirement. Aquarius is positioned by Reed Smith as a way to reduce the time and cost of producing structured regulatory outputs—an angle that matters when regulatory documentation must be produced accurately and consistently across product lines and jurisdictions.

A platform built around regulatory documentation

MiCA compliance can require significant documentation and process design, not just one-off filings. Reed Smith’s pitch for Aquarius centers on automating several of the activities companies repeatedly perform while assessing products and building regulatory-ready workflows.

In the firm’s description, Aquarius supports:

• Crypto-asset classification, which helps determine how tokens and products should be treated under MiCA rules.
• Regulatory white paper generation, relevant to disclosures and structured communication required under the framework.
• Due diligence processes tied to compliance expectations.
• ESG disclosures, aligning with the reporting demands that businesses must handle as part of broader operational transparency.

Reed Smith also frames Aquarius as a hybrid approach—automation intended to speed up workflow steps, while the firm’s legal team supplies the oversight needed for accuracy. For firms that operate quickly or expand product catalogs, the practical value of automation is not only speed, but also consistency, especially when regulatory requirements evolve or when companies need to evidence their compliance processes to regulators.

The firm said Aquarius is intended to help companies entering the EU market or expanding their crypto offerings across the region. Reed Smith’s global digital asset practice operates under its “On Chain” initiative, and the firm has previously supported major industry transactions, including serving as legal counsel to placement agents for Trump Media’s reported $2.5 billion Bitcoin treasury financing and advising Nakamoto Holdings in its merger with KindlyMD to create a Bitcoin treasury company.

Authorization isn’t the finish line: ESMA supervision continues

MiCA’s harmonized licensing rules may create a more level playing field across EU member states, but authorization still does not end regulatory engagement. Last week, the European Securities and Markets Authority (ESMA) launched a supervisory review of authorized crypto-asset service providers.

ESMA’s focus includes how custodians safeguard client assets and manage operational risks. That emphasis reflects the regulator’s attention to the controls that protect users during day-to-day operations—not just the initial licensing documentation.

In related commentary cited by Cointelegraph, Sebastien Dessimoz, co-founder and managing partner of Taurus, said that obtaining a MiCA license is only the beginning for custodians. He highlighted that ongoing scrutiny can extend to cybersecurity, governance, and the demonstrable ability to protect client assets.

For operators and compliance teams, this matters because it shifts the workload toward continuous monitoring and evidence-building. In that environment, a compliance tool that structures documentation and workflows can be more than an efficiency play—it can also help firms operationalize regulatory requirements in a repeatable way as supervisory reviews expand.

Uncertainty lingers as stablecoin rules come under review

While MiCA aims to standardize regulation, some parts of the framework appear to remain politically and technically sensitive. Reports suggest EU policymakers are considering revisions to MiCA’s stablecoin framework, including rules affecting the issuance of non-euro-denominated stablecoins.

Euronews reported that discussions are being influenced in part by the United States’ GENIUS Act, which established a federal framework for payment stablecoins. The implication for market participants is that stablecoin-related compliance could face additional changes after companies have already begun operationalizing MiCA requirements.

For businesses—especially those tied to payment rails and tokenized value—this kind of regulatory fluidity increases the importance of having compliance capabilities that can adapt. If rules around stablecoins are revised, teams will likely need to revisit classifications, disclosure language, and onboarding/due diligence processes—areas where automation could reduce the friction of updates.

That said, the direction and scope of any revisions are still uncertain. Companies evaluating compliance investment plans may want to watch closely how EU regulators articulate stablecoin policy and whether any changes clarify responsibilities for issuers and related service providers.

As Aquarius enters the market, the next question for crypto operators will be how quickly automated compliance workflows can keep pace with enforcement and supervision—particularly for custodians facing ESMA review—and whether upcoming stablecoin rule discussions result in concrete amendments that require firms to adjust documentation and operating controls.

Bitcoin (BTC) starts the new week with a bump as traders brace for more macro volatility.

Key points:

• Bitcoin gets knocked back toward $62,000, but a trader is already eyeing the end of the bear market by September.
• A new BTC price “death cross” forms the latest signal that the bear market may have just months left to run.
• The US-Iran war is back as the Strait of Hormuz closes to oil traffic, prompting risk-asset headwinds.
• US CPI and PPI data is due out, while Fed chair Kevin Warsh will outline future policy to lawmakers.
• A major distribution event involving midsize Bitcoin hodlers shows fractured sentiment across investor cohorts.

Bitcoin bear-market bottom due “around September or October”

Bitcoin continues to circle its lowest levels since Q3 2024, but one theory is already calling for the return of the bull market as soon as September.

In an X post on Monday, trader Ryker called the entire four-year cycle of bull and bear markets into question.

“I disagree with this chart,” they wrote alongside a comparison of previous market phases for BTC/USD stretching back to 2013.

Ryker argued that since consensus sees the 2026 bear-market bottom as still to come, market makers will frontrun sentiment and initiate a long-term rebound in advance, leaving as many traders off-side as possible.

“Most people believe that the next Bitcoin bull cycle will begin in 2027. However, market makers know exactly what the crowd is thinking,” they continued. 

“I predict that Bitcoin will start surging around September or October of this year, and the crowd will miss the buy opportunity. You shouldn’t trust this chart.”

BTC/USD one-week chart comparison. Source: Ryker/X

The idea comes as multiple BTC price indicators begin to flash reversal signals for the first time since the end of the last bear market in late 2022.

As Cointelegraph reported, however, history suggests that the bear market is simply too young to reverse before the end of the year, with current progress at around 70%.

Trader confirms classic BTC price bear-market “death cross”

Bitcoin saw sell-side pressure immediately after the weekly close, dropping to local lows near $62,500, per data from TradingView.

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

This reinforced the area around $64,000 as short-term resistance, with multiple attempts to break higher all ending in failure last week.

“Crypto choppy, so are stocks,” trader Daan Crypto Trades wrote in his latest analysis on X.

“Bitcoin remains rangebound between this ~$61K-$65K region and is right in the middle here.”

BTC/USD one-hour chart. Source: Daan Crypto Trades/X

Fellow trader Lennaert Snyder saw little chance of even a rematch with range highs, putting $63,600 as the next entry point for a BTC short position.

“Orderflow also confirms spot and perps are selling and funding rates are still quite high, so some downward pressure would be healthy,” he commented on Monday about exchange order-book data.

Snyder described BTC/USD dropping to fresh lows under $57,800 as the “most healthy scenario.”

BTC/USDT four-hour chart. Source: Lennaert Snyder/X

A more optimistic take came from trader Jelle, who maintained hope of a near-term rebound to $70,000.

On longer time frames, Jelle noted the recent “death cross” on the weekly chart potentially forming a reliable foundation for sustained upside.

This involves the 50-week and 100-week simple moving averages (SMAs), and with the last death cross coming in September 2022, just months before the last bear-market bottom.

“In the past, by the time this signal flashed, Bitcoin’s bear market was nearly ending. More and more signs confirming my belief that accumulation season is back,” Jelle told X followers.

BTC/USD one-week chart with 50, 100SMA. Source: Cointelegraph/TradingView

Hormuz closure rocks oil, stocks in crypto headwind

The US-Iran war is already back as a major macro volatility driver this week.

Over the weekend, Iran declared the Strait of Hormuz — a key global oil route — closed until further notice.

This followed a series of escalatory events that broke the fragile ceasefire agreement previously in effect, and markets reacted in kind.

US WTI crude oil returned to $75 per barrel on Monday, up nearly 12% versus its July lows.

CFDs on US WTI crude oil one-hour chart. Source: Cointelegraph/TradingView

Reacting, Nic Puckrin, CEO and cofounder of crypto education platform Coin Bureau, flagged other signs of stress as a result of the resurgent conflict.

“US 2yr T-bill yields just shot above 2.35% – the highest level in 16 months!” he wrote in a post on X. 

“The Iran situation is pushing up oil prices & inflation expectations. It’s saying: Interest rates are going to be higher for longer.”

US two-year Treasury yield chart. Source: Nic Puckrin/X

Puckrin referred to two-year US Treasury note yields and their potential impact on financial policy, with higher interest rates traditionally being a headwind for crypto and risk assets.

While US stock futures saw a cautious start to the week, the frequency of negative Iran headlines appeared to show in their comparatively muted reaction to the oil-supply threat. As such, some market participants brushed off the potential for a deeper market retracement based solely on Middle-East cues.

“This correction has, in my opinion, little to do with everything in the Middle East,” crypto trader and analyst Michaël van de Poppe argued. 

Van de Poppe instead put the focus on Japanese bond markets as the yen circled multidecade lows versus the US dollar. 

“It has a lot more to do with the Japanese Yield jumping again,” he continued. 

“I expect to see a breakdown in Yield over the next 1-2 weeks, which would automatically lead to a positive breakout in Bitcoin.”

BTC/USDT one-day chart. Source: Michaël van de Poppe/X

Fed’s Warsh to testify with CPI, PPI data due

Against the background of Iran instability, US markets will also need to surf key macro data releases in the coming days.

Chief among these are the June prints of the Consumer Price Index (CPI) and Producer Price Index (PPI). Both mark the final releases before the Federal Reserve meets to decide on interest-rate changes at the end of the month.

As Cointelegraph reported, the Iran knock-on effect has been reflected in US inflation reports for several months, making any surprise readings in CPI or PPI a key potential risk-asset volatility catalyst.

US CPI 12-month % change. Source: Bureau of Labor Statistics

“We have a highly eventful week ahead of us,” trading resource The Kobeissi Letter summarized to X followers.

Almost immediately after CPI on Tuesday, new Fed chair Kevin Warsh will present a semiannual monetary policy report to the House Financial Services Committee.

Warsh has walked a tightrope since taking over in May, juggling rising inflation with pressure from US president Donald Trump to cut rates. At his first interest-rate meeting, however, he remained on the hawkish side, avoiding dropping clear hints that policy could be relaxed. 

According to CME Group’s FedWatch Tool, markets currently see rates staying the same until September, when majority consensus calls for a 0.25% hike.

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

In analysis published late last week, trading resource Mosaic Asset Company described rates being caught in a “tug-of-war,” while pointing instead to US 30-year Treasury yields as a source of friction going forward.

“A breakout in long-term rates may present obstacles for the rally, but the S&P 500 is nearing completion of a short-term bullish chart pattern,” it warned.

This week also sees around 10% of S&P 500 companies reporting earnings.

S&P 500 chart data. Source: Mosaic Asset Company

Midsize BTC hodler selling hits multimonth highs

New insights into Bitcoin hodler selling adds to the case for a BTC price rebound in July.

Related: Bitcoin whales sent BTC price to $64K as Coinbase Premium broke key level: CryptoQuant

Published by onchain analytics platform CryptoQuant on Monday, data covering addresses holding between 100 and 1,000 BTC shows a major new distribution event.

“Bitcoin wallets holding between 100 and 1,000 BTC recorded net distribution of about 67,000 BTC on July 13, the cohort’s strongest selling activity since February 19, when distribution reached roughly 47,000 BTC,” contributor Amr Taha wrote in a blog post.

Over the past three months, the cohort’s activity has been in a state of flux, with late April conversely seeing conspicuous accumulation.

Taha, however, notes that these 100-1,000 BTC entities tend to reduce exposure before bullish BTC price reversals.

“Historically, extreme accumulation by this cohort appeared near local Bitcoin price highs in January and April 2026, while the strong distribution recorded after February 19 was followed by a price rebound,” he continued.

“The current signal does not confirm a market bottom, but it places Bitcoin near another historically significant shift in mid-sized investor behavior.”

Bitcoin exchange inflow data (screenshot). Source: CryptoQuant

CryptoQuant data also shows that inflows to both Binance and Coinbase Prime actually cooled in mid-July.

Last week, Cointelegraph reported on profit-taking by short-term holders as BTC/USD rose to $64,000 — something that analysis likewise described as a feature “characteristic of a bull market.” 

Binance’s futures market volume is hitting a new 2026 high even as cryptocurrency spot trading remains stuck at its weakest levels in two years.

Binance, the world’s largest centralized exchange (CEX) by trading volume, recorded $1.6 trillion in futures trading volume in June, its highest level of 2026, according to CryptoQuant analyst Maarten Regterschot, who posts under the moniker “Maartuun.”

“That might seem unexpected,” Maartunn wrote in a post on Friday, noting that Bitcoin remains in the mid-$60,000 range as many cautious traders continue to describe the market as bearish.

The surge marks a sharp turnaround for Binance’s futures market after months of slower activity and a multi-quarter decline in futures volumes on CEXs.

Binance futures volume jumps 80% in June

Binance’s $1.61 trillion in futures trading volume in June was an 80% increase from May’s $893 billion.

June trading far outpaced major competitors, as OKX reached $609 billion and Bybit logged $434 billion, with both exchanges topping May volumes, up 9% and 18%, respectively.

Source: CryptoQuant

All three exchanges haven’t seen futures trading near this level since January 2026, when Binance processed around $1.5 trillion in volume, as OKX and Bybit reached $667 billion and $502 billion, respectively.

Futures and spot markets hit multi-quarter lows

To be sure, Binance’s June futures surge came as the broader CEX futures market remained under pressure in the second quarter of 2026.

For the period, futures volume fell to $15.7 trillion, down 11% from $17.6 trillion in Q1, marking the third consecutive quarterly decline, according to CryptoRank data.

Source: CryptoRank

The pace of the decline slowed compared with Q1, when futures volume fell 31% from Q4 2025. Binance remained the largest futures venue in Q2, holding about 28% market share.

Related: Hyperliquid shows how onchain perps could challenge Wall Street: Pantera

Spot markets faced a deeper slowdown, with CEX spot volume falling to $3 trillion in Q2, the weakest quarter in two years and an 18.9% drop from Q1. Binance remained the largest spot exchange with $731 billion in quarterly volume, but its market share slipped from 27% to 24%.

Binance futures face a new test after MiCA transition

Binance’s futures surge came shortly before the end of Europe’s Markets in Crypto-Assets (MiCA) transition period, with July data offering an early look at whether the regulatory shift affected the exchange’s activity in the region.

Binance withdrew its application for a license in Greece in late June, days before the framework entered its next phase on July 1.

Early July figures by CryptoQuant show Binance’s futures market has remained active following the MiCA transition, with the exchange recording $418 billion in futures volume in the first 10 days of the month.

Magazine: Bitcoin nearing late stages of bear market: Jamie Coutts, Real Vision

President Donald Trump has confirmed that he will unveil newly declassified 2020 election intelligence during a Thursday night address alongside top U.S. national security officials.

According to MS NOW, Trump is scheduled to speak to the nation on Thursday at 9:00 PM ET alongside CIA Director John Ratcliffe, Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, and Acting Director of National Intelligence Bill Pulte.

Early speculation suggested the speech would focus on the renewed confrontation with Iran, but the network reported that the administration instead plans to discuss intelligence documents that were recently declassified.

The reports date back to early 2021 and were originally released by the U.S. Department of Justice, the FBI, and the Department of Homeland Security. Their purpose was to assess whether foreign governments interfered with the election process or compromised the security and integrity of the vote.

Officials examined election infrastructure, voter registration systems, vote counting procedures, ballot handling, and the reporting of election results. According to the government assessment, investigators found no evidence that any foreign government-affiliated actor prevented eligible voters from casting ballots, changed votes, altered ballots, disrupted vote counting, or interfered with the timely reporting of election results.

The assessment also documented cyber activity linked to Russia and Iran. While those campaigns successfully accessed some election-related networks, investigators concluded they did not materially affect voter records, ballot integrity, vote totals, or the certified outcome of the election. The report further stated that several claims promoted by Iran regarding weaknesses in the U.S. electoral system were inaccurate or exaggerated.

Markets await details from the White House

Financial markets and political observers are now watching the White House address for additional information about the newly released documents and the administration’s interpretation of their findings.

Prediction market participants have also reacted to the announcement. According to Polymarket data, traders currently assign an 8% probability that U.S. courts will ultimately rule that the 2020 presidential election was fraudulent. The market continues to price in relatively low odds despite renewed attention on the declassified intelligence.

The White House speech follows several days of heightened geopolitical uncertainty that has already affected financial markets. As previously reported by crypto.news, Bitcoin dropped more than 2% toward $62,000 after Trump reinstated an Iranian blockade targeting Iranian ships and customers in the Strait of Hormuz while introducing new cargo fees for vessels crossing the strategic waterway.

Trump said the Strait of Hormuz would remain open “with or without Iran” and declared that the United States would be known as “THE GUARDIAN OF THE HORMUZ STRAIT.” The announcement came after renewed attacks around the vital oil shipping route intensified tensions between Washington and Tehran.

Intelligence findings remain the central focus

Despite the recent geopolitical developments, the upcoming address is expected to center on the declassified election intelligence rather than foreign policy. According to MS NOW, the presence of the nation’s top intelligence and law enforcement officials indicates that the administration intends to present the findings as a national security matter.

Lawmakers, political organizations, and market participants are expected to closely monitor the speech for any additional disclosures beyond the material already contained in the declassified reports. Whether the administration introduces new evidence or simply expands on the existing assessments will likely become clearer once the address begins.