Crypto World
DJT scraps Crypto.com deals citing market condition, CRO token falls 5%
Trump Media (DJT) is unwinding parts of its crypto push, including scrapping plans to establish a publicly traded CRO token accumulation company, which it unveiled near the height of last year’s digital asset treasury boom.
Trump Media, Crypto.com and special purpose acquisition company Yorkville Acquisition mutually terminated plans for Trump Media Group CRO Strategy, the firms said Friday, citing “prevailing market conditions, and shifting business and stakeholder priorities.”
The proposed venture would have created a publicly traded company focused on accumulating the native token of Cronos and earning additional returns by staking those holdings. Trump Media itself bought $105 million of CRO in September 2025 as part of a broader partnership with Crypto.com that included plans to integrate token rewards into its products.
CRO fell as much as 5% following the news.
The companies are also walking away from a separate partnership under which Crypto.com would have serviced certain planned exchange-traded funds (ETFs), from Yorkville America. Trump Media is also scaling back plans to build Crypto.com-powered prediction markets directly into Truth Social, Axios reported earlier.
UK politics is facing fresh scrutiny over alleged crypto-linked political donations tied to former FTX CEO Sam “SBF” Bankman-Fried. Lee Anderson, chair of the UK Reform party, has called for an investigation into Defense Secretary Wes Streeting after reports surfaced of a reported £50,000 donation routed through a think tank during 2022 and 2023.
The renewed controversy comes as Bankman-Fried continues to serve a 25-year prison sentence in the United States. In parallel, the US Court of Appeals for the Second Circuit has issued a formal mandate upholding his conviction, narrowing the legal avenues available to him.
Key takeaways
- Reform UK chair Lee Anderson says parliamentary standards should investigate a reported £50,000 donation involving Wes Streeting.
- The reported funds were said to come from Labour for the Long Term, whose founder allegedly received a $675,000 gift from Bankman-Fried before sending money to Streeting.
- Streeting reportedly claims he never had contact with Bankman-Fried, and that a donor list provided by the think tank did not include the former FTX CEO’s name.
- UK law permits larger donations by unincorporated associations, creating potential compliance loopholes around donor transparency.
- Bankman-Fried’s conviction remains upheld after a Second Circuit mandate, reinforcing the finality of his sentence while he considers further legal steps.
Reform’s complaint over a reported Streeting donation
According to a Friday report from The Telegraph, Lee Anderson urged the parliamentary commissioner for standards to probe Wes Streeting over reports of approximately $50,000 in donations made via a think tank.
The donations in question were reportedly made between 2022 and 2023 and were said to originate from Labour for the Long Term, a political research and policy group. The Telegraph reports that Labour for the Long Term’s founder allegedly accepted a $675,000 gift from Bankman-Fried before later directing funds to Streeting.
Anderson’s call centers on whether parliamentary standards rules were met, particularly given the reputational and compliance concerns surrounding Bankman-Fried after his criminal conviction and imprisonment. The allegation is not that Streeting himself dealt directly with Bankman-Fried, but that donations may have been intermediated through an organization linked to the accused fraudster.
Donor transparency and the UK “association” loophole
The controversy also touches on how UK donation rules are structured. As described with reference to guidance from the International Bar Association, unincorporated associations are permitted to donate more than $675 directly to politicians. The regulations can function as a loophole, potentially allowing money to move through entities in ways that reduce visibility into the original source.
In practice, this matters because investors, civil society groups, and voters increasingly treat political funding transparency as part of broader governance and compliance risk—especially when large sums appear connected to high-profile failures in the crypto sector. When donors are routed through intermediaries, scrutiny may shift from direct donor relationships to the processes that political figures use to vet where contributions come from.
While the UK rules allow certain structures for donations by associations, the reporting raises the question of whether vetting was sufficient and whether the think tank properly disclosed relevant contributors at the time.
Streeting’s response and the think tank founder’s denial
Per The Telegraph, Streeting asked Labour for the Long Term for a list of donors before accepting the reported $50,000. The report states that Bankman-Fried’s name did not appear on the donor list provided to him.
The same coverage claims that Streeting said he had never had any contact with the former FTX CEO. Bankman-Fried is currently serving a 25-year prison sentence after being convicted on seven felony charges.
David Lawrence, the founder of Labour for the Long Term, also pushed back on the implication that Bankman-Fried was the ultimate source of Streeting’s contribution. According to The Telegraph, Lawrence said Streeting’s contribution was funded by a donor other than Bankman-Fried and that Labour for the Long Term “did not receive any donations from the FTX Foundation or Mr. Bankman-Fried.”
Even so, Anderson’s intervention suggests Reform believes the compliance question is not settled by denials alone. The focus for an official standards investigation would likely be whether disclosures and processes matched the expectations of transparency and accountability under parliamentary rules.
US mandate keeps SBF’s conviction intact
The UK donation allegations land against a background of legal closure for Bankman-Fried’s US case. Earlier this week, the US Court of Appeals for the Second Circuit issued a formal mandate upholding Bankman-Fried’s felony conviction and 25-year sentence. The update builds on an earlier decision reported in June that limited his remaining options.
As Cointelegraph previously reported, the Second Circuit’s ruling reduced the number of routes available to pursue early release. Bankman-Fried still has the possibility of appealing to the US Supreme Court or waiting for a potential presidential pardon.
For readers watching the intersection of crypto and politics, the key point is that Bankman-Fried’s criminal status remains firmly established in the US. That matters because it may influence how other institutions interpret donations and intermediary arrangements tied to him or to parties connected with him—even after his conviction.
Why voters and crypto stakeholders should watch the investigation
Whether parliamentary standards decide that Streeting’s reported donation arrangements were properly vetted—or whether process gaps and association-based structures warrant stronger disclosure—will be crucial. The next steps to watch are the commissioner’s findings and any clarification on how donor lists were compiled and validated by the think tank, particularly in light of a conviction that the US appeals court has now fully cemented through a formal mandate.
Anutin added that the suspect had a “clear course of action and specific targets.”
Police said that the suspect had also searched for websites on mass shootings before the attack and that the gun belonged to his grandfather and had been registered.
The suspect’s father told CNN that he does not know why his son might have carried out the shooting.
“My son was guilty … he hurt people,” the father told the network. “I have nothing more to say. But I still don’t know why he did that.” He added that he had not witnessed “any sign of violence” from his son. “I still don’t know why he had to kill his own grandfather and grandmother,” he said.
In the aftermath of the shooting, Thai officials are moving to implement new safety measures.
Anutin said that a “new law will only allow government officials on duty to carry guns.” He did not provide further details.
The Thai Ministry of Education said in a statement that “following this incident, security measures at schools will be significantly strengthened.” It added that “enhanced school security and measures to protect students” would be discussed, and announced financial assistance including 20,000 Thai Baht ($600) for families of the deceased victims, and 5,000 Thai Baht ($150) for the people who were injured.
Cardano’s native cryptocurrency has been on fire lately and has emerged as the best-performing digital asset over the past week.
It has become the subject of multiple price predictions, with many market observers anticipating much more substantial gains ahead.
What Happened and What Might Be Next?
ADA has been on a massive overall decline in the past year, with its valuation nosediving to a multi-year low of under $0.14 in June. The poor performance continued throughout July, but the start of August brought a sudden and somewhat unexpected revival.
The return of the whales, who purchased more than 240 million coins in less than a week, was depicted as the main catalyst of the resurgence. The bulls remained in charge, and now ADA trades at around $0.2014 (per CoinGecko), representing an 18% weekly increase. According to the X account BSCN, the latest pump could have been fueled by Cardano’s transition into the Dijkstra development era, labeled as “a newly approved roadmap that makes it the first chain to fund core development from its community treasury.”
Popular analysts have now become quite vocal on the token, envisioning an additional uptrend for the asset. X user Rand Group noted the strong momentum, claiming that recovering the key zone of $0.25 could trigger “the full bullish reversal.”
Sjuul | AltCryptoGems also chipped in, arguing that ADA’s structure is “absolutely bullish” after forming a series of highs and calling it “probably one of the best-looking charts among the major caps.”
X user Sssebi seems to be the biggest optimist. The analyst opined that the asset has broken above the 20-week MA on the ADA/BTC chart for the first time since October 2025 and reminded that previous setups have resulted in 50%-200% rallies.
Something for the Bears
ADA’s double-digit increase on a weekly basis shouldn’t necessarily be taken as the start of a new bull run. After all, the crypto market has been bleeding for several months, and it remains unclear whether it has reached its cycle bottom or a renewed pullback is on the way.
The asset’s Relative Strength Index (RSI) is another warning. The ratio has surged to around 70.6 on a daily scale, representing the highest level since August 2025. This puts ADA in overbought territory, which is usually a precursor to a move south. In contrast, readings below 30 are typically interpreted as buying opportunities.
The post Cardano (ADA) Flashes a Major Bullish Signal That Could Trigger a 200% Pump appeared first on CryptoPotato.
In the opening episode of Netflix Korean drama Our Sticky Love, Go Eun-sae (Ha Young) wakes up in a rural hospital with no memory of how she got there or what her prior life was like. When local boxing coach Jang Tae-ha (Jung Hae-in) shows up at the hospital claiming to be her devoted boyfriend, she is immediately suspicious. Tae-ha is much scruffier and less professionally ambitious than Eun-sae thinks her ideal type might be, but she doesn’t have much choice but to go with him to the taffy-making village he claims they both call home.
Is Tae-ha telling Eun-sae the truth? And, if he is lying—as Eun-sae suspects—to what end? By the end of Our Sticky Love’s 12-episode run, all is revealed. Here’s everything that goes down in the Overboard-esque Netflix K-drama that combines smalltown romance and crime drama for a satisfying tale of love against all odds.
Is Tae-ha really Eun-sae’s boyfriend?
Eun-sae’s instincts are good. Though Tae-ha and Eun-sae do share a past, he was not her boyfriend prior to the accident that caused Eun-sae’s amnesia. Eun-sae is actually a successful prosecutor who works in Seoul’s anti-corruption office. In the months before the action of the show, Eun-sae had been investigating a case of bribery and murder involving crime boss and company chairman Baek Sang-gil (Heo Sung-tae) and the Seoul mayor. When she records damning evidence of their crimes, Sang-il orders her killed. His goons start the job, but Sang-il sends in one of his best men, Jang Tae-ha, to finish the job.
Tae-ha’s gangster past
While Tae-ha may have a heart of gold, he has spent the past 14 years working as a violent yes man for Baek Sang-gil’s criminal enterprise. As a teenager and young adult, Tae-ha had a bright future as one of South Korea’s best young boxers. He was on track to go to the Olympics for his country, but when his grandmother fell sick, he chose to leave it all behind. In order to earn enough money for his grandmother’s cancer treatments, Tae-ha accepted a job with Sang-gil.
For his final job as one of Sang-gil’s most trusted men, he is tasked with killing Eun-sae and disposing of the body. He accepts the job, eager to get back to life with his grandmother and his friends and neighbors in Taffy Village, where he grew up. However, when he realizes the identity of his target, he can’t go through with it. Instead, he risks everything by staging Eun-sae’s fake death and whisking her away to the small town he calls home.
What caused Go Eun-sae’s amnesia?
Prior to Tae-ha’s arrival, Eun-sae was tortured by Sang-gil and his men. They burned off her fingerprints to make her body unidentifiable and beat her badly. The injuries lead to Eun-sae’s amnesia. The amnesia is inconvenient for Tae-ha, who feels he cannot risk telling Eun-sae the truth about the danger she is in. He fears that, rather than lay low in Taffy Village, Eun-sae will go back to Seoul in an effort to corroborate Tae-ha’s story. While Tae-ha waits for Eun-sae’s memory to return, he solicits the help of everyone in Taffy Village to go along with the story that they are a happy couple and have been living together in town since their move from Seoul two months ago. Meanwhile, Tae-ha uses his own contacts to arrange a boat to Japan for Eun-sae a month later. In the meantime, he must convince a confused and suspicious Eun-sae that they have been dating for two years.
Why does Tae-ha save Eun-sae?
Tae-ha’s task is made easier by the fact that he has real feelings for Eun-sae. He first met Eun-sae in 2010, when the first-year college student and aspiring prosecutor exposed Tae-ha’s boxing opponent for cheating. Years later, Eun-sae saves Tae-ha from a yakuza attack while she happens to be on vacation in Japan. Tae-ha, who is in Japan on business for Sang-gil, is ambushed by a bunch of men. Eun-sae, who has heard Tae-ha speaking Korean, speeds up on her motorbike to whisk Tae-ha away from danger. Tae-ha instantly recognizes Eun-sae as his “first love,” aka the girl who helped him win a boxing medal, but Eun-sae does not recognize him.
Still, the two spend the night together, walking the streets of the city and falling asleep on the beach together. Eun-sae asks for Tae-ha’s number so they can stay in contact, but Tae-ha declines to give it to her. He doesn’t want to reveal his gangster status to prosecutor Eun-sae, and he knows a relationship between them could never work. When Tae-ha sees an unconscious Eun-sae years later, he knows exactly who she is. After 14 years of loyal service to Sang-gil, he disobeys a direct order and saves Eun-sae.
Why does Eun-sae also go by Ji-won?
When Eun-sae wakes up and Tae-ha informs the hospital and Eun-sae herself of her name, it is different from the one she has been going by as a prosecutor: Go Ji-won. However, Tae-ha isn’t lying. When they bonded in Japan, Eun-sae told Tae-ha that Eun-sae was the name her mother gave her before she left her at an orphanage as a baby. However, it was only after the orphanage registered her birth as Go Ji-won that the original name was discovered. Years later, Eun-sae tells Tae-ha that she prefers to go by the beautiful name her mother gave her rather than her legal name.
Does Eun-sae recover her memories?
Eun-sae recovers her memories at the end of Episode 8, after she has been rushed onto the boat to Japan by Tae-ha’s colleague Kaito. She watches from afar as Tae-ha faces off against Sang-gil and his goons. When Tae-ha starts a fire that erupts into an explosion, a horrified Eun-sae begins to remember her life before amnesia.
Our Sticky Love’s ending explained
Through much of Our Sticky Love, Tae-ha is the one protecting Eun-sae from Sang-gil. However, with her memories recovered, Eun-sae springs into action to bring Sang-gil down herself, and save Tae-ha from his former boss’ revenge. Though the trick watch that recorded Sang-gil’s incriminating meeting with the mayor has been destroyed, Eun-sae backed up the footage. She uses it to arrest both powerful men, seeking 15 years in prison for the mayor and life in prison for Sang-gil, who has murdered multiple people in his efforts to secure a lucrative construction project for his company.
However, before Sang-gil can be properly sentenced, he escapes from his transport. He immediately travels to the Taffy Village and takes Tae-ha’s grandmother hostage. He plans to kill Tae-ha for his betrayal, but is thrown for a loop when he sees baby pictures of Tae-ha with his mom.
Tae-ha’s young mother was taken in by Go Yeong-hong, the woman we know as Tae-ha’s grandmother, when Tae-ha was just a baby. She died shortly after, and Go Yeong-hong decided to raise Tae-ha herself, despite not having a biological relation to him. As we learn through flashbacks, Sang-gil is Tae-ha’s biological father. Tae-ha’s mom left him after Sang-gil, who was also a boxer prior to becoming a thug, cheated in a match. When Sang-gil realizes that he is a father, he wants nothing to do with Tae-ha’s mom or baby Tae-ha, but he does offer them money. Tae-ha’s mom refuses, saying that she does not want to raise her son with dirty money.
Sang-gil has spent 14 years with Tae-ha as a right-hand man, never once guessing that he is his biological son. He only realizes the connection when he sees the baby pictures in Tae-ha’s grandmother’s house. When Tae-ha comes to save his grandmother, Sang-gil is still processing the reveal. He runs from the house, with Tae-ha hot on his heels. Tae-ha tackles Sang-gil, and takes his gun, pointing it at the man he doesn’t know is his father.
When Eun-sae and the police show up, Sang-gil realizes that Tae-ha might actually kill him, which would ruin his life. Rather than letting this happen to Tae-ha, Sang-gil wrestles the weapon from his son’s grip and uses it on himself instead. He dies in front of a shocked Tae-ha, who will never know the truth about the man who caused him so much pain.
Does Our Sticky Love have a happy ending?
Yes, Our Sticky Love ends with protagonists Eun-sae and Tae-ha together. Though Eun-sae is initially angry with Tae-ha for lying to her, she has fallen in love with him during their time together. The two marry in Taffy Village, amongst the family they have found there.
MARA Holdings, the largest publicly traded Bitcoin miner, reported a net loss of over $611 million for the second quarter of 2026, as revenue fell 27%, the company said in a shareholder letter released August 6.
The quarter shows a widening gap between MARA’s growing computing capacity and the falling value of the Bitcoin on its balance sheet, with holdings down nearly a third even as the company mined more units than a year ago.
Bitcoin Price Decline Hits MARA’s Quarterly Results
According to MARA, revenue in Q2 2026 fell 27% year over year to $174.9 million from $238.5 million. The company posted a net loss of $611.3 million, compared with net income of $808.2 million a year earlier, while adjusted EBITDA dropped to a loss of $360.9 million from a positive $1.2 billion.
The company attributed much of the decline to Bitcoin’s lower price. Revenue benefited from higher production, but a 28% year-over-year drop in Bitcoin’s average price reduced revenue by about $65.9 million.
MARA also posted an unrealized loss of $343 million on its digital holdings as BTC fell about 45% from the same period last year, moving from a large mark-to-market gain in 2025 to a large paper loss in Q2 2026.
Operationally, the miner continued to expand. Energized hashrate climbed 22% to 70.3 EH/s, while production rose 3% to 2,422 BTC, and total blocks won increased to 700. Cost per petahash per day improved by 4%, although purchased energy cost per Bitcoin increased to $38,690 as power expenses and network difficulty rose faster than the company’s hashrate growth.
MARA ended June with 35,577 BTC worth about $2.1 billion, down 29% from a year earlier. The holdings included 9,270 BTC that were either loaned or pledged as collateral.
During the quarter, the company mined 2,422 BTC, sold 2,213 BTC at an average price of $73,078, and generated about $4.3 million in interest income by lending 4,742 BTC. Management said it expects to continue selling the flagship cryptocurrency opportunistically to support liquidity and capital projects when market conditions warrant.
Company Presses Ahead With AI Infrastructure Strategy
Spot On Chain’s Hupzy flagged the results, writing that MARA is “liquidating its BTC treasury to fund operations.” The account called it a supply overhang rather than a one-time event, noting production rose just 3% while holdings fell close to a third, and said the firm’s approximately $2.5 billion in combined cash and Bitcoin sets a ceiling on how much more it can sell.
Recall that between March 4 and 25, the miner sold 15,133 BTC for about $1.1 billion, using most of the proceeds to repurchase around $1 billion in convertible notes due in 2030 and 2031, alongside a roughly 15% workforce cut. It also moved 200 units valued at about $12.86 million to NYDIG yesterday.
The company is now focusing on building infrastructure beyond Bitcoin mining, noting in the shareholder letter that it is awaiting regulatory approval for its Long Ridge acquisition and recently secured rights to a powered land site in Matagorda County, Texas.
If approved, those projects could expand its power portfolio to as much as 4.8 gigawatts as the company continues directing more capital toward AI and high-performance computing alongside its core Bitcoin mining business.
The post Bitcoin Miner MARA Posts $611M Loss as Revenue Falls 27% appeared first on CryptoPotato.
Justin Mateen, a director of the board at American Bitcoin (ABTC), the mining company backed by U.S. President Donald Trump’s family, purchased nearly $1.93 million worth of the company’s stock over two consecutive trading sessions this week, following the company’s latest earnings report.
According to regulatory filings, Mateen bought about 145,000 Class A shares on Aug. 5 for roughly $925,000 at an average price of $6.40 per share. He followed that with the purchase of about 162,000 shares on Aug. 6 for approximately $1 million at an average price of $6.19 per share.
Combined, the purchases amounted to 306,981 shares for approximately $1.93 million.
Following the transactions, Mateen beneficially owns 492,297 shares of American Bitcoin’s Class A common stock, reflecting adjustments made after the company’s recent reverse stock split.
Mateen is a co-founder of Tinder and an ABTC board member since March 2025.
The US Senate is preparing for a possible September vote on the CLARITY Act, even as lawmakers remain short of the support needed to move the crypto market structure bill forward.
Senate Majority Leader John Thune still intends to file cloture on the motion to proceed before lawmakers leave for the August recess, according to journalist Eleanor Terrett, citing multiple sources.
The move would put the CLARITY Act in position for a procedural vote when the Senate returns in September. It would also signal that Republican leadership plans to prioritize the bill despite unresolved disagreements.
However, the votes are not there yet.
60 Votes are Still Not There for CLARITY
The Senate would likely need 60 votes to move the legislation forward. Republicans do not have enough support on their own, while several GOP senators have also raised concerns about parts of the bill.
One of the biggest disputes is over stablecoin rewards.
Banks have stepped up lobbying against rules that would allow crypto companies to offer rewards linked to stablecoin use. They argue these products could draw deposits away from traditional banks.
Crypto companies, including Coinbase, have pushed back against tighter restrictions.
The issue has become increasingly important in recent days. It could make it harder for Republican leaders to keep their own members together while also attracting enough Democratic votes.
Another major obstacle is ethics.
Ethics Remain the Chokepoint
Democrats have demanded stronger rules around elected officials benefiting financially from crypto businesses. The issue has become particularly sensitive because of President Donald Trump’s extensive crypto interests.
In a recent podcast with BeInCrypto, Satoshi Action Fund co-founder Dennis Porter said these disagreements have left the bill facing an increasingly difficult path through the Senate.
Porter also pointed to uncertainty among Republican senators, saying lawmakers including Rand Paul, Thom Tillis, Josh Hawley, James Lankford and Bill Cassidy were not guaranteed votes for the bill. That could force Republicans to find considerably more Democratic support.
Crypto Markets Expect CLARITY Act to Fail
On prediction market Polymarket, the odds of the CLARITY Act becoming law in 2026 have dropped to around 16%.
That pessimism could also change how crypto markets react if the bill fails.
“I think failure is priced in right now,” Porter told BeInCrypto. He argued that a failed vote may therefore have less impact on crypto prices than many investors expect.
However, passage could produce a different reaction.
Porter said clear rules written into law could give larger investors more confidence to make long-term crypto investments. He cautioned that any effect would likely develop over time rather than trigger an immediate Bitcoin rally.
For now, September is shaping up as the next major test. Senate leaders appear willing to force a vote, but negotiators have several weeks to find support that currently does not exist.
The post CLARITY Act Likely To Fail in September. Will Crypto Prices React? appeared first on BeInCrypto.
Crypto World
Bitcoin Taps $65K Despite CLARITY Act Setback and Lack of US-Iran Deal: Weekly Crypto Recap
After last week’s Federal Reserve FOMC meeting, all crypto eyes remained on the US, but this time it was focused on whether the Senate will vote on the highly anticipated CLARITY Act before the August recess. The decision became known on Thursday evening.
But before that, let’s rewind the clocks to last Friday when bitcoin tried to take down the $65,000 resistance in the morning. The rejection was swift, and the bears pushed it south to $62,400 within hours. The rebound attempt on Saturday was halted, and the next leg down drove it to a monthly low at $62,200.
A bigger relief rally followed on Sunday morning when US President Donald Trump canceled the planned strikes against Iran and suggested that both sides might announce a permanent deal soon. Something that the Middle Eastern country denied. BTC jumped to $63,800, dipped back down to $62,200, and rocketed on Monday to $64,000 almost immediately.
The hopes of a deal intensified in the following days, with some reports claiming that it could be announced on Wednesday. Although this never materialized, BTC still kept itching higher and tapped $65,000 yesterday.
It was stopped there and dipped toward $64,000 on Friday morning after the CLARITY Act bill faced a major setback as the Senate delayed voting on it. Nevertheless, BTC rebounded during the day and touched $65,300 minutes ago, where it was stopped, at least for now.
It now sits inches below $65,000, with a market cap of $1.3 trillion and a 57% dominance over the alts. Many of them have actually posted more impressive gains over the past week, including ADA (19%), ZEC (11.5%), and XMR (6.5%).
Market Data
Market Cap: $2.295T | 24H Vol: $50B | BTC Dominance: 57%
BTC: $64,750 (+3.1%) | ETH: $1,910 (+3.4%) | XRP: $1.03 (-2.6%)
This Week’s Crypto Headlines You Can’t Miss
XRP Price Slides on CLARITY Delay as Analyst Flags Weak August Trend. The aftermath of the delayed voting on the CLARITY Act resulted in a major leg down for XRP, which dipped to just over $1.00. Meanwhile, Strategy’s Michael Saylor said Bitcoin doesn’t need CLARITY, but America does.
Chainlink Just Saw Its Biggest Exchange Outflow Since June – Bulls Are Watching. Investors pulled out over 1.25 million LINK tokens from cryptocurrency exchanges in just 24 hours, which was the single-highest withdrawal since June. Whale activity has surged as well, suggesting increased confidence among major holders.
Bitcoin Flashes Rare Bullish Divergence – Déjà Vu for BTC? A popular analyst claimed that BTC has bottomed out during this cycle after observing the formation of a bullish divergence similar to past cycles. However, other market commentators warned that there’s still a lot of leverage in the market, which signals instability.
Analyst Forecasts Ethereum Rally to $3K After Key On-Chain Breakout. Ethereum has outperformed BTC and some other larger-cap alts lately, which immediately prompted well-known analysts to speculate about its next big leg up. According to this analysis, the asset’s path toward $3,000 has begun.
Bitcoin Active Addresses Surge to 8-Month High After Coldcard Panic. The other big news over the past week or so was the Coldcard fiasco, which led to millions and millions of dollars worth of BTC being stolen from users keeping their holdings on the hard wallet. Meanwhile, the number of active BTC addresses has rocketed to a multi-year high, in what Glassnode described as a “fear-driven on-chain activity.”
Strategy Sold Over $100 Million in Bitcoin, Buys Back More STRC. The world’s largest corporate holder of bitcoin announced its third BTC sale of the year, disposing of over $100 million worth of the asset. The company used the proceeds to repurchase $81 million worth of STRC and also increased its USD reserve by $250 million.
Charts
This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.
The post Bitcoin Taps $65K Despite CLARITY Act Setback and Lack of US-Iran Deal: Weekly Crypto Recap appeared first on CryptoPotato.
Software stocks sold off on Thursday amid disappointing second quarter earnings reports and guidance from Datadog (DDOG) and HubSpot (HUBS). Software companies with “consumption”-based business models like Datadog, including Snowflake (SNOW) and MongoDB (MBD), were among the losers. Traditional software-as-a-service vendors, led by Salesforce (CRM), charge fixed monthly or annual subscription fees based on the number of users. Newer players,…
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Canada added 75,000 jobs in July, about five times forecasts, while the US economy shed 23,000. The split hands the Canada crypto industry a stronger home market than American firms have seen all summer.
Statistics Canada put unemployment at 6.4% on Friday, a two-year low. US payrolls, meanwhile, missed forecasts by more than 100,000 positions after steep revisions.
A Five Times Beat Meets a US Contraction
Economists expected Canada to add about 15,000 jobs. It added 75,000. The gains split almost evenly between full-time and part-time work, according to the labour force survey.
Ontario did the heavy lifting with 52,000 new positions. Finance, insurance, and real estate added 18,000 jobs. Professional, scientific, and technical services added 17,000 more. Those two sectors matter here. They are where digital asset firms hire.
Canada has now added 181,000 jobs since April. That makes three straight months of gains.
“Three straight months moving in the right direction is exactly how turning points begin. And if the breadth we saw in July holds into the fall, stabilization could quietly become the momentum Canada has been waiting for,” Laura Ulrich, director of economic research at recruitment firm Indeed, said in a statement.
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The American report read like a different economy. The Bureau of Labor Statistics reported a 23,000 payroll decline. Economists had expected gains of 80,000 to 90,000. Worse, revisions erased another 103,000 jobs from May and June. US hiring has averaged just 34,000 a month over the past year.
One caveat keeps the contrast honest. America’s 4.1% unemployment rate still sits well below Canada’s 6.4%. However, the US rate held flat while jobs vanished. Canada’s fell while hiring boomed. Direction, not level, is the story.
Central Bank Paths Split as Bitcoin Holds $65,000
The divergence pulls the two central banks apart. Royce Mendes, managing director at Desjardins, said a Bank of Canada rate hike remains unlikely before 2027. BMO chief economist Douglas Porter flagged the reason. Wage growth cooled to 2.8%, the slowest in four years.
Strong hiring without wage pressure gives the Bank of Canada room to wait. The Federal Reserve has the opposite problem. A shrinking payroll makes further tightening hard to defend.
Within hours, the miss sent Fed expectations spinning as traders repriced US rates. Crypto markets, which rallied after June’s report, once again read weak US data as a liquidity signal.
Bitcoin (BTC) traded near $65,000 on Friday, up 0.8% over 24 hours, according to BeInCrypto Markets data. Its market capitalization stood at roughly $1.31 trillion.
Can the Canada Crypto Industry Capitalize?
Canada has moved first before. The Toronto Stock Exchange listed the world’s first spot Bitcoin exchange-traded fund (ETF) in February 2021. That fund, the Purpose Bitcoin ETF, today holds about 18,500 BTC worth $1.7 billion CAD. US regulators needed almost three more years to approve rival spot products.
The rulebook is growing too. The Stablecoin Act, passed through Budget 2025’s Bill C-15, puts fiat-backed stablecoin issuers under Bank of Canada oversight. Issuers must hold one-to-one reserves and redeem at par. The rules should take force in 2027.
Major players are already positioning for that date. Coinbase Canada CEO Eric Richmond said in July the firm wants to build an “everything exchange” for Canadians. The plan spans crypto, stocks, and prediction markets. He tied the full rollout to those same stablecoin rules.
Nevertheless, the headwinds are real. British Columbia permanently banned new grid connections for crypto mining in October 2025. The province is steering its clean power toward AI and industry instead.
US venues still command far deeper liquidity. And CIBC senior economist Andrew Grantham noted Canadian unemployment sits about half a point above full employment.
The next tests come fast. Draft stablecoin rules are due in the Canada Gazette. August payrolls land on both sides of the border within a month. Together, they will show whether July’s divergence was a trend or a blip.
The post Canada Economy Just Outran America: Is Its Crypto Industry Next? appeared first on BeInCrypto.
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