Crypto World
Saylor continues to post cringe AI slop amid Strategy’s BTC sell-off
Michael Saylor posted a cringeworthy Q2 earnings call video this week, prompting an avalanche of criticism from Bitcoiners who are getting increasingly sick of Strategy selling bitcoin (BTC).
The AI-powered clip, created by “truth seeker maximalist” Alexes Nakamoto, features Strategy shareholders, including Head of Bitcoin Chatanya Jain, Chief Financial Officer Andrew Kang, and CEO Phong Le, dancing along to a rap “delivered” by Saylor in a bizarre semi-British accent.
The clip didn’t go down well with a community that’s growing increasingly frustrated at Strategy’s BTC sell-off, which has seen it shed 5,258 BTC (~$320 million) so far this year.
Read more: Bitcoiners are worried that Coinkite’s Blockclock could be spying on them
Strategy sold its first 32 BTC in May, then from June, it offloaded another 5,226 BTC.
One X user responded to the video, “I would like to never buy BTC again in my life after watching this,” while another asked, “Am I the only one who found this a little cringe?”
Others reminded Saylor that there’s still time to take down the video, while one declared, “Man what a day for the blind and deaf.”
Saylor’s lyrics go, “Maybe the best way to buy the most BTC is not to buy the most BTC. I’m gonna sell one, and then I’m gonna buy 10. You want us to sell none, and somehow buy 11 with money conjured by a genie underneath the desk.”
The Strategy founder has shared similar remixes and raps in the past, each of which attracted similar criticism, suggesting that he knows the content is embarrassing and wants it that way.
He also likes to post AI-generated images depicting himself in heroic poses and situations, many of which, like an image of Saylor fleeing a sinking ship, have aged terribly as the company began to sell its BTC.
Read more: Strategy has lost two-thirds of its mNAV in two years
Saylor distances himself from HODL claims
The backlash has become visceral enough to warrant a response from Saylor, who felt the need to clarify that he hasn’t specifically sold BTC from his personal wallet.
He posted on August 3, “When I say ‘Never Sell Your BTC,’ I speak as one saver to another. I have never sold mine. Not one satoshi. Strategy is a public company, not my wallet.”
Strategy currently holds 842,138 BTC, worth almost $59 billion.
The company’s CEO, Phong Le, said during the call that, “In the second quarter of 2026, Strategy strengthened its balance sheet while navigating a meaningful bitcoin price decline.
“We grew our BTC holdings by 11% to 846,000 BTC, reduced our convertible debt by 18% to $6.7 billion, increased our USD Reserve by 12% to $2.4 billion, and grew BTC Per Share by 5%.”
Saylor added, “In the midst of this phase of muted BTC sentiment and market skepticism, we continue to evolve our business model and establish digital credit as a new asset class. Our plan is to return STRC to health with stable demand, high liquidity, and low volatility trading near par.”
The firm revealed it suffered operating losses of $8.33 billion, of which $8.32 billion was made up of an unrealized loss on its digital assets.
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Ethereum has continued to stabilize following its sharp correction from the yearly highs, with buyers attempting to regain control after breaking out of the long-term descending channel. While the recovery has improved the near-term outlook, ETH still faces a cluster of major resistance levels overhead that must be reclaimed before a broader trend reversal can be confirmed.
Ethereum Price Analysis: The Daily Chart
On the daily timeframe, ETH is consolidating just above the broader descending channel’s higher boundary that has guided price action lower for several months. Although buyers have managed to push it back toward $1.9K, the asset is still trading beneath both the 100-day and 200-day moving averages, which are currently converging around the $1.95K and $2.05K levels, respectively. This continues to indicate that the broader market structure remains bearish despite the recent rebound.
The latest rally has also brought the price directly into an important horizontal resistance confluence around $1.9K to $2K. This is the first major obstacle for the buyers. A successful breakout above this region could pave the way toward the next resistance zone around $2.4K. On the downside, the key demand zone at $1.5K remains critical for ETH to build on.
The RSI has also recovered toward the neutral 50 level after previously reaching oversold conditions, suggesting bearish momentum has eased. Nevertheless, momentum has yet to shift decisively in favor of the buyers, making the reaction around the current resistance particularly important.
ETH/USDT 4-Hour Chart
On the 4-hour timeframe, Ethereum recently completed a breakout from a short-term descending channel, a pattern that typically signals weakening selling pressure and the potential for a bullish continuation. The breakout has already carried the price back above the immediate support zone around $1.85K, which is now acting as the first line of defense for buyers.
ETH is currently consolidating below the $2.1K resistance area. The recent recovery has kept the price within the upper half of the broader ascending channel that has developed since early June, suggesting buyers continue to defend higher lows.
If the breakout from the short-term descending channel remains valid, Ethereum could attempt another move toward the upper boundary of the larger ascending channel near the psychological $2K region. A clean break above that level would likely strengthen bullish momentum and expose the higher resistance around $2.1K.
Conversely, losing the $1.85K support would weaken the short-term bullish structure and could trigger another decline toward the $1.75K demand zone. A breakdown below that area would invalidate the recent push and shift momentum back in favor of the sellers.
On-Chain Analysis
The active addresses chart shows that Ethereum network activity remains subdued despite the recent price recovery. Daily active addresses have stabilized around the 400K range after declining significantly from the surge seen earlier in the year, with the 30-day exponential moving average continuing to trend lower.
This divergence between activity and price suggests that the latest price rebound has not yet been accompanied by a meaningful improvement in underlying network participation. Historically, sustained bullish phases tend to coincide with expanding user activity, whereas muted address growth often reflects cautious market participation.
While the stabilization in active addresses may indicate that network activity is beginning to find a floor, a stronger increase in on-chain participation would provide additional confirmation that the current recovery is supported by improving fundamentals rather than purely technical buying. Until then, Ethereum’s recovery appears constructive but still lacks broad on-chain confirmation.
The post Ethereum Price Analysis: Can ETH Overcome Overhead Moving Averages? appeared first on CryptoPotato.
A checkout register at the Lawson Takanawa Gateway City convenience store in Tokyo took a 322-yen payment in the yen stablecoin JPYC on Aug. 6, printing "stablecoin" on the receipt as the payment method, according to CoinPost, whose reporter Ritsuki Kumazawa made the purchase during the… Read the full story at The Defiant
The chairman of the UK’s Reform party has called for an investigation following reports of a $50,000 political donation linked to former FTX CEO Sam “SBF” Bankman-Fried.
According to a Friday report from the Telegraph, Reform UK chair Lee Anderson called for the parliamentary commissioner for standards to probe Defense Secretary Wes Streeting over reported $50,000 in donations from a think tank in 2022 and 2023. The reported donations came from Labour for the Long Term, whose founder reportedly accepted a $675,000 gift from Bankman-Fried before sending funds to Streeting.
Notably, Reform leader Nigel Farage is set to face voters next week in a by-election triggered by his resignation as a member of parliament amid his own crypto scandal. The UK politician received $6.7 million in donations from crypto billionaire Christopher Harborne and financial assistance from George Cottrell, a convicted fraudster linked to a crypto casino. Farage claimed that the contributions were “gifts.”
Under UK law, unincorporated associations are permitted to give more than $675 directly to politicians, according to the International Bar Association. The regulations offer a loophole for companies with business in the UK to be used as “conduits for foreign or dark money” to lawmakers without reporting the source of the funds.
Related: Crypto companies have spent $189M so far on 2026 US election cycle: Report
According to the Telegraph, Streeting asked Labour for the Long Term for a list of its donors before accepting the $50,000, but Bankman-Fried’s name was not included. The defense secretary reportedly said that he had never had any contact with the former FTX CEO, who is currently serving 25 years in prison after his conviction on seven felony charges.
David Lawrence, who founded the think tank, said Streeting’s contribution was funded by a donor other than the former CEO, and that Labour for the Long Term ”did not receive any donations from the FTX Foundation or Mr. Bankman-Fried,” according to the Telegraph.
US court issues mandate upholding SBF’s conviction
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 appeals court announced its ruling in June, giving the former CEO fewer legal routes to seek a potential early release from prison. Bankman-Fried still has the option of appealing to the US Supreme Court or waiting for a potential presidential pardon from Donald Trump.
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Many well-known altcoins, including Cardano (ADA), Hyperliquid (HYPE), and Zcash (ZEC), have posted some gains over the last 24 hours, yet Pi Network’s PI has failed to join the party.
Despite its renewed slump, though, the crypto community sentiment toward it is highly bullish.
Bad News?
It’s quite challenging to find a leading cryptocurrency that has performed worse than PI over the past year or so. The token saw the light of day in February 2025 and at first rocketed to $3, while its market capitalization neared $14 billion.
However, what followed next was a major retreat, and now it trades at around $0.08, which is quite close to the all-time low of approximately $0.07 and represents a 97% crash from the historical peak.
That said, it seems rather strange that the crypto community remains predominantly optimistic about the token. At least that is what CoinMarketCap suggests, noting that it holds the second-highest bullish sentiment in the entire market. The first spot is for Kaspa (KAS), while industry leaders like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) rank below PI.
Extreme optimism shouldn’t necessarily be interpreted as good news. The crypto sector is actually a weird one, and euphoria moments are often followed by a plunge, since prices tend to go against overall expectations.
Upgrades and More
The team behind Pi Network has announced multiple ecosystem improvements since the start of 2026. Among the latest was the migration to protocol version 25, which was not disclosed on the project’s X account or website, but numerous users claimed it was in effect.
Next is protocol v26, with Pi Network recently reminding that all mainnet node operators must complete the upgrade by August 11 to remain connected to the network.
X user Ben told their more than 500,000 followers on X that the improvement is already live, with protocol 27 sitting next as “the one they’ve called the final upgrade.”
“Almost nobody watching PI thinks about node compliance, but that deadline tells you how much of the network is genuinely maintained versus just switched on and forgotten. I’d love to see the update rate published on the 12th,” they added.
Some of the ecosystem advancements have managed to stage brief rebounds for PI over the last few months, yet bears were quick to regain control. We have yet to see whether the upcoming upgrades will trigger a more meaningful rally or whether PI will continue to underperform in the near future.
The post Pi Network (PI) Slips 5% Daily, But Community Sentiment Remains Strongly Bullish appeared first on CryptoPotato.
“We’ve really found—over the last decade, even—an accumulation of many, many risk factors for dementia,” says Dr. Jeffrey Kaye, a professor of neurology and biomedical engineering at Oregon Health & Science University and director of the Layton Aging and Alzheimer’s Disease Center (who wasn’t involved in the new study).
Other potential ways to lower dementia risk include keeping your brain active, being social, and doing regular physical activity, as well as cutting back on alcohol, eating a balanced diet, maintaining a healthy weight and cholesterol levels, managing hearing loss, and reducing exposure to air pollution. The WHO guidelines estimated that by addressing all of these modifiable risk factors, 45% of dementia cases could be avoided.
Some dementia cases can’t be prevented, however. Age, for example, is the single greatest risk factor: About one in 13 people from ages 65 to 84 have Alzheimer’s disease. Among people 85 and older, that rises to about one in three. A person’s genes, race, and gender also influence their odds of having dementia.
In this video, we’ll explore the key economic events and market trends, shaping the financial landscape. Get ready for insights into financial markets to help you navigate the week ahead. Let’s dive in!
👉 Key topics:
✔️US Inflation Rate
The first major event is the US inflation report on 12 August. Markets currently see a 55% probability of a Federal Reserve rate hike in September, but a weaker-than-expected inflation reading could reduce those expectations and put pressure on the US dollar. June’s softer inflation data already triggered a sharp dollar decline, while some analysts expect the Fed to keep rates unchanged for now and consider cuts next year.
✔️UK GDP Data
The UK GDP report on 13 August will be closely watched by sterling traders. Markets will focus on monthly, quarterly and annual growth figures. A significant surprise in the data could increase volatility across GBP pairs, with weaker growth potentially weighing on the pound.
✔️US PPI
The US Producer Price Index, also released on 13 August, will provide further insight into inflation pressures before they reach consumers. June’s weaker-than-expected PPI and Core PPI readings pushed the dollar lower, and another soft report could strengthen expectations of easing inflation and add further pressure on the US currency.
With several high-impact releases packed into the week, disciplined risk management will remain essential. Geopolitical developments continue to influence commodity and currency markets, while economic data could generate sharp short-term price swings.
Gain insights to strengthen your trading knowledge.
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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
The fund has been a point of contention across party aisles due to concerns the payouts to those who the Trump Administration claims were unfairly persecuted by the government could extend to people who participated in the Jan. 6, 2021, Capitol riots.
Blanche on Aug. 2 persuaded former GOP holdouts Senators John Cornyn of Texas and Thom Tillis of North Carolina to support his confirmation by assuring them, in writing, that the “anti-weaponization” fund had been rescinded.
But for Murkowski, it was not enough to sway her vote.
“I will oppose his nomination,” she said. “The country needs an Attorney General who will check the worst impulses of this Administration. I hope Mr. Blanche is able to achieve that, if confirmed, but I simply do not have confidence that will be the case.”
White House press secretary Karoline Leavitt, in an emailed statement to TIME, referred to Murkowski’s decision as “disappointing” and said Blanche is “exceptionally qualified and should be confirmed as the next Attorney General of the United States, so the Administration can continue to keep America safe.”
Storj Labs, the company behind the decentralized cloud storage network Storj, filed for voluntary Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of West Virginia, Case No. 5:26-bk-00512, the company said in a blog post. Storj said the filing is meant to… Read the full story at The Defiant
Howmet (HWM) is the Big Cap 20 component in focus as the stock tests a key level after breaking out in June. The stock is wading in a 5% buy zone, rendering it actionable now. A handful of aerospace and defense stocks gained momentum on Thursday. Both Howmet and fellow aerospace stock ATI (ATI) reported robust earnings, causing several of…
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Bitcoin (BTC) hit new August highs into Friday’s Wall Street open as markets reacted to weaker US jobs numbers.
Key points:
- Crypto and risk assets gained after US nonfarm payrolls fell by 23,000 in July.
- Fed interest-rate bets for September shift from a 0.25% hike to a pause on signs of a weaker labor market.
- Bitcoin and altcoins stayed “resilient” after a week of bearish surprises, per analysis from QCP Capital.
Crypto, stocks higher on low nonfarm payrolls print
Data from TradingView showed BTC/USD hitting $65,340 on Bitstamp, up 1.3% on the day, as fresh US labour-market data was released.
BTC/USD four-hour chart. Source: Cointelegraph/TradingView
The US economy lost 23,000 jobs in July, per nonfarm payrolls data from the Bureau of Labor Statistics (BLS), with the unemployment rate at 4.1%, numbers it described as “little changed” versus the month prior.
“The change in total nonfarm payroll employment for May was revised down by 66,000, from +129,000 to +63,000, and the change for June was revised down by 37,000, from +57,000 to +20,000. With these revisions, employment in May and June combined is 103,000 lower than previously reported,” an official statement added.
The combination of negative July values and downward revisions appeared to boost both crypto and US stocks, with traders linking weaker labor-market conditions with potential policy softening from the Federal Reserve.
The S&P 500 index opened 0.5% higher, while the tech-heavy Nasdaq Composite Index added just over 1%.
Data from CME Group’s FedWatch Tool reveals that markets are now expecting the Fed to hold interest rates at current levels at its September meeting. As late as yesterday, majority odds had favored a 0.25% rate hike.
Fed target-rate probability comparison for September FOMC meeting. Source: CME Group
Prior to the employment data release, Ryan Lee, chief analyst at Bitget Research, said that it would “set the tone” for both the September meeting and the Fed’s annual economic Jackson Hole economic symposium, taking place at the end of August.
Fabian Dori, CIO at Sygnum Bank, predicted that Fed chair Kevin Warsh would be influenced by the extent to which payrolls data shifted lower.
“An orderly slowdown supports the liquidity relief case, while a print weak enough to raise growth concerns can still pressure risk assets even as rate odds move,” he said in comments sent to Cointelegraph.
Analysis praises Bitcoin, altcoin “resilience”
In its latest crypto and macro overview released on the day, trading company QCP Capital described the macro picture as “uncertain” for Bitcoin.
Related: Bitcoin price-metric basket sees longest capitulation since FTX blow-up: Glassnode
“For crypto, the week’s price action points to resilience rather than clear directional confirmation,” it summarized.
QCP noted that the fallout from the Coldcard wallet exploit, along with BTC sales by corporations including Strategy, had only sparked “limited demand for panic protection” on options markets.
Previously, Cointelegraph reported on option traders’ expectations for a BTC price trading-range breakdown to occur next month.
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