On 29 July 2026, Microsoft reported its results for the fourth quarter of fiscal year 2026. Revenue reached $90 billion, up 18% year-on-year, while adjusted earnings per share came in at $4.74, comfortably ahead of analysts’ expectations of $4.24. The company exceeded consensus forecasts for both revenue and its cloud business, reflecting continued strong demand for AI infrastructure. The earnings release came after months of pressure on the stock, driven by investor concerns over the scale of capital expenditure required to expand Microsoft’s cloud and AI capabilities.

Technical Analysis of Microsoft

Since the beginning of June, the MSFT chart has developed a clear short-term downtrend. After peaking near $465, the stock declined sharply along a descending trendline before finding support around $350 on 25 June. An unusually large bullish trading volume was recorded during the rebound from this area.

Since then, the stock has entered a recovery phase and is now trading between the POC (Point of Control) at $389.5 and the upper boundary of the current market profile at $400.5. The $405 resistance level sits just above the profile boundary and could reinforce resistance in this area.

Below the current price, two nearby support levels stand out: the lower boundary of the profile at $373.5 and the support level at $367. The RSI + MAs indicator currently shows readings of 50, 49 and 50, with all three values positioned in the middle of the neutral zone. Such a configuration is typically associated with a period of consolidation before the market develops its next directional move.

Summary

The near-term performance of Microsoft shares is likely to depend more on how investors reassess the company’s recently reported operating results than on the reaction to individual technical levels. For now, the debate surrounding capital expenditure on AI infrastructure remains the dominant fundamental theme shaping market sentiment.

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The pound strengthened following the outcome of the US Federal Reserve meeting, where the central bank, as expected, kept interest rates unchanged. However, the Fed did not provide the market with clear signals of an imminent shift towards rate cuts, maintaining a cautious approach to future monetary policy. Despite the Fed’s cautious tone, the dollar failed to gain fresh momentum, allowing the British currency to partially recover its recent losses.

Market attention is now almost entirely focused on the Bank of England meeting, as its decision is expected to be the main driver for sterling through the end of the week. Investors also do not expect a change in interest rates, but the key factors will be the Monetary Policy Committee’s vote split, the accompanying statement and comments from Bank of England Governor Andrew Bailey. Any signals regarding the timing of potential monetary policy easing could trigger notable volatility in the pound.

For the euro, today will also bring a number of important macroeconomic releases. Markets will focus on preliminary inflation and GDP data from Germany, as well as GDP and inflation figures from Spain. These reports will help investors assess the resilience of the eurozone economy and adjust expectations regarding the European Central Bank’s future actions. Stronger data could support the euro, while weaker figures may reinforce expectations of further ECB policy easing.

GBP/USD

Following yesterday’s Fed meeting, GBP/USD moved towards the 1.3400 area. A rebound from the 1.3270 support level and a sharp daily rally allowed buyers to form a bullish engulfing pattern. Technical analysis of GBP/USD points to the possibility of further gains towards 1.3440–1.3480 if the 1.3270–1.3300 range becomes established as support. A decisive move below yesterday’s low could trigger a renewed decline towards 1.3180–1.3220.

Key events for GBP/USD:

• Today at 14:00 (GMT+3): Bank of England interest rate decision;
• Today at 14:30 (GMT+3): speech by Bank of England Governor Andrew Bailey;
• Today at 15:30 (GMT+3): US initial jobless claims.

EUR/GBP

EUR/GBP is showing signs of recovery after forming a bullish harami pattern on the daily timeframe. If market participants are disappointed by today’s Bank of England decision, the pair could extend its advance towards 0.8600–0.8620. The bullish scenario would be invalidated after a decisive break below the 0.8540–0.8560 support area.

Key events for EUR/GBP:

• Today at 08:30 (GMT+3): France GDP;
• Today at 11:00 (GMT+3): Germany GDP;
• Today at 15:00 (GMT+3): Germany Consumer Price Index (CPI).

Overall, the near-term direction of sterling will depend primarily on the Bank of England’s decision, the Monetary Policy Committee’s vote split and Andrew Bailey’s comments on the future outlook for interest rates. For the euro, inflation and GDP releases from the eurozone’s largest economies will remain important, as they could influence expectations for the European Central Bank’s next policy steps. With the market impact of the Fed meeting now fading, European economic data and signals from the Bank of England could become the main drivers of GBP/USD and EUR/GBP through the end of the week.

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Crypto exchange Luno is reportedly cutting around 20% of its workforce as it restructures operations and shifts more focus toward institutional clients, financial infrastructure, and business-to-business services. The move follows earlier headcount reductions and comes as many crypto firms continue to prioritize cost control and automation amid uneven market conditions.

In a report published by Bloomberg on Tuesday, Luno CEO James Lanigan said the company has invested in automation and other operational improvements, changing the resources required to run the business. He also indicated that further cost trimming will be paired with ongoing investments in compliance, core infrastructure, and retail products. According to the filing discussed in earlier coverage, Luno is owned by Digital Currency Group and operates in Africa and the Asia-Pacific region, serving roughly 16 million users.

Key takeaways

• Luno is reportedly reducing headcount by about 20%, citing automation and operational changes that alter staffing needs.
• The exchange says it will also pursue cost reductions while continuing investment in compliance, core infrastructure, and retail offerings.
• This is not Luno’s first major restructuring; the company previously cut 35% of staff in January 2023.
• July 2026 saw a cluster of disclosed layoffs and restructurings across crypto, with industry tracker CryptoJobsList recording hundreds of roles affected.
• Several firms point to AI and efficiency upgrades as a common factor behind staffing changes, though the scale and drivers vary by company.

Luno’s restructuring and why staffing is changing

Luno’s reported layoffs are framed as an outcome of “run-rate” changes rather than a simple demand shock. Bloomberg reports that CEO James Lanigan attributed the restructuring to investments in automation and broader operational improvements, which in turn reduced the staffing required for core functions. The company also plans to trim costs in line with market conditions, while directing resources toward areas it views as strategic—compliance, core infrastructure, and retail products.

For users and customers, this type of restructuring can translate into slower expansion in some areas, but it can also mean that teams previously handling manual processes are redeployed toward system reliability, risk controls, and institutional service delivery. Luno has previously expanded beyond retail trading into infrastructure and institutional offerings, including providing crypto infrastructure for banks and fintech firms—an angle that typically requires different operational capabilities than consumer exchange experiences.

Importantly, Luno has already gone through a larger round of reductions before. In January 2023, Cointelegraph reported that DCG-affiliated companies laid off more than 500 employees, with Luno cutting 35% of its staff—affecting nearly 330 employees—during a period of turbulence across parts of the technology and crypto sectors.

Automation, AI, and cost controls spreading across the sector

Luno’s stated rationale echoes a pattern other crypto companies have cited in recent months: automation, AI, and efficiency improvements are often presented as reasons to reduce staffing. While the details differ by firm—ranging from internal process upgrades to product and platform changes—the theme is consistent: companies are trying to maintain or improve service levels while reducing operating costs.

One reason this matters for the industry is that layoffs can reshape what businesses prioritize. Where consumer-focused teams previously led growth efforts, many companies now appear to be redirecting investment toward infrastructure, compliance, and enterprise-grade services—areas where budgets can be more predictable and where automation may reduce operational friction.

What July’s layoff data suggests (and what it can’t tell)

Beyond Luno, the broader wave of job cuts continues to show up in public trackers. CryptoJobsList, which monitors crypto and crypto-adjacent workforce reductions, recorded layoffs or restructurings at 12 crypto and crypto-adjacent companies in July. Disclosed figures totaled 894 jobs affected, according to the tracker’s reporting.

CryptoJobsList’s data is meant to be an indicator of sector activity rather than a complete measure of all crypto-related cuts. The tracker notes that its figures include adjacent financial technology firms, and they are also skewed by unusually large reductions such as Block’s reported 4,000-person layoff in February.

Still, the concentration of announcements in a short period gives investors and builders a practical signal: staffing is being reassessed across multiple segments of the crypto ecosystem, and companies appear to be acting faster than in downturn cycles when cost reductions sometimes lag demand shifts.

Other notable restructurings in July

Earlier in July, Cointelegraph reported that crypto wallet company Exodus announced plans to cut 25% of its staff while reorganizing around a full-stack card-issuance and stablecoin-payments platform. Exodus said the changes could produce between $10 million and $13 million in annual operating savings, positioning the restructuring as an effort to concentrate resources on a specific product direction.

Separately, blockchain infrastructure developer Gnosis took a different approach to workforce reductions. In July, the company invited organizations hiring across roles including engineering, product, design, marketing, developer relations, and customer relations to contact it for introductions to former employees affected by a recent restructuring. In a statement dated July 17, Gnosis said it reduced its workforce following a review of its consumer-facing Gnosis App.

These examples show how restructuring rationales can vary: some companies cite platform efficiency and automation, while others tie changes to product review cycles or a strategic pivot. For employees, the practical impact differs as well—some reorganizations focus on relocating talent, while others involve more direct role elimination.

What to watch next

With Luno’s reported cut and a continuing pattern of restructurings recorded across the sector, the next question for readers is whether these moves translate into measurable improvements—such as higher reliability, faster enterprise onboarding, or more consistent compliance execution—or whether they mainly reduce capacity at the cost of long-term growth. Investors and builders should keep an eye on how companies balance automation-driven efficiency with the operational load required by regulators, institutional clients, and evolving product demands.

Crypto prices went almost nowhere over the past day. The leverage underneath them was destroyed anyway.

About $286 million in positions were liquidated across 87,294 traders in 24 hours, according to CoinGlass, while bitcoin closed flat at roughly $63,900 and ether slipped to $1,900. Longs accounted for $186 million of the damage and shorts $100 million, the signature of a market that moved hard in both directions and settled back where it started.

Bitcoin’s split shows it plainly. Roughly $57 million of bitcoin positions were cleared, and the balance was almost even, about $28 million in longs against $29 million in shorts. The price swung between $63,247 and $64,660 during the window, a range of barely 2%, which was enough to clear traders positioned either way.

Ether recorded the largest total at about $58 million, tilted toward longs, as prices ranged between $1,920 and $1,850.

The single biggest liquidation was a $2.9 million bitcoin position on Binance.

The Federal Reserve’s rate decision on Wednesday sits inside that window, and the bulk of the damage came in the 12 hours around it, with $188 million liquidated and longs bearing $130 million.

Binance is set to broaden its regulated commodity offering by launching USDT-settled options on gold and silver through its Abu Dhabi exchange venue. The new contracts are designed to give traders exposure to bullion price movements without requiring delivery of physical metals, fitting a growing pattern of crypto-native derivatives tied to traditional assets.

The options will be listed via Nest Exchange Limited, Binance’s Abu Dhabi Global Market (ADGM) regulated Recognized Investment Exchange. For users, the structure is also tailored to who can trade: retail participants will be limited to buying options, while eligible institutional users and liquidity providers can write (sell) contracts.

Key takeaways

• Binance plans to list USDT-settled gold and silver options on its Abu Dhabi-regulated Nest Exchange Limited.
• Retail users can buy options only, while certain institutions and liquidity providers may also write options.
• The product is built on Binance’s existing gold and silver perpetual futures that began in January.
• The launch adds to a wider commodity-linked ecosystem that includes tokenized bullion products such as Tether’s XAUt and Paxos’s XAUT-like offerings.

USDT-settled options, delivered without physical metals

According to Binance, the new gold and silver options will be settled in USDT, allowing traders to manage exposure in a stablecoin-denominated format rather than by taking delivery of physical bullion. Options also introduce a different risk profile compared with futures or spot exposure because the buyer’s loss is generally limited to the premium paid.

Binance said its decision to restrict retail users to buying options is meant to cap downside risk to the premium, while allowing eligible institutional participants and liquidity providers to write options so they can collect premiums. That split is important for how these markets may develop: option writing tends to require more sophisticated risk management and typically increases liquidity, but it also changes who bears the tail risk in stressed scenarios.

Link to Binance’s broader move into regulated commodities

This options launch follows Binance’s introduction of gold and silver perpetual futures in January. While perpetuals allow traders to take leveraged directional bets on the metal prices, options provide additional flexibility—such as constructing strategies that can hedge other positions or express expectations about volatility and price ranges.

By adding options under an ADGM-regulated framework, Binance is effectively extending the same “traditional asset” theme into a more complex derivatives layer. For investors, traders, and firms evaluating how crypto venues integrate with conventional markets, product expansion like this can matter as it broadens the toolkit available inside regulated jurisdictions.

Tokenized bullion sits alongside derivatives

Binance’s new options add to an expanding set of commodity-linked crypto products, but they coexist with a different approach: tokenization of physical bullion rather than derivatives trading. In particular, companies including Tether and Paxos have focused on representing stored metal in token form.

Tether’s XAUt represents one troy ounce of gold stored in Swiss vaults. The token recently received Shariah certification from Amanah Advisors, a step aimed at improving accessibility for Islamic financial institutions. Earlier in the same broader push, ADGM also recognized XAUt as an accepted spot commodity, which supports the idea that regulated firms can build services around the tokenized asset.

While options and tokenized bullion are distinct products—options are primarily for price exposure and hedging, tokenized bullion is intended for holding metal representation—both trends point to a common direction: crypto market infrastructure is increasingly being used to connect with traditional commodity exposure.

What the growth in tokenized commodities suggests

RWA.xyz estimates that the tokenized commodities sector has grown to roughly $4.56 billion in distributed value. According to the same estimate, Tether Gold and Paxos Gold account for more than 90% of that market, indicating that liquidity and adoption in this niche are currently concentrated in a small set of issuers.

For market watchers, that concentration is a double-edged sign. It shows demand for regulated, tokenized access to bullion—yet it also suggests that the overall pace of expansion could depend heavily on a limited number of products and partners. Binance’s derivatives expansion, meanwhile, may attract another category of participants: those who prefer trading wrappers (like options) rather than holding tokenized commodities directly.

Why the retail/institutional split matters

Binance’s choice to allow retail users to buy options only, while enabling eligible institutions and liquidity providers to write contracts, is more than a compliance decision—it will shape how these markets function on day one and beyond. Buyers typically act as hedgers or speculators with capped loss, while writers can provide liquidity and earn premiums, but they also need adequate capital and controls to manage exposure.

As these contracts launch, traders will likely watch for practical indicators such as bid-ask spreads, the depth of liquidity across strike prices, and how consistently institutions are willing to write—especially during periods when volatility in gold and silver tends to rise.

Looking ahead, the key question will be how quickly Binance’s Abu Dhabi-listed options gain traction and whether the structured access for retail versus institutions becomes a model other regulated venues follow. Traders and investors should also keep an eye on how tokenized bullion adoption evolves, since it may influence where derivatives demand concentrates—either in hedging token holdings or in independent strategies tied purely to metal price movements.