Tag: CRYPTOS FoxBusiness

The future of the CLARITY Act, which aims to regulate the cryptocurrency market in the US, may depend on the Trump administration’s response to the new bipartisan ethics proposal.

According to cryptocurrency journalist Eleanor Terrett, the Trump administration is considering a counter-proposal drafted by Republican Senator Thom Tillis and Democratic Senator Ruben Gallego. This proposal would authorize state attorneys general to prosecute federal officials if the Justice Department fails to enforce ethics and conflict-of-interest rules.

The new proposal aims to address Democrats’ concerns that enforcing ethics clauses directly through the Justice Department, which is under the Trump administration, will not provide sufficient safeguards. A previous draft supported by the White House had drawn criticism for leaving enforcement authority with the Justice Department and for restrictions to expire in January 2029.

According to Terrett, the White House is expected to evaluate the proposal over the weekend. If the parties reach an agreement on the ethical provisions, the Senate vote on the CLARITY Act could proceed. However, the bill needs the support of 60 senators to pass the procedural vote, and currently, the necessary support has not yet been secured.

The bill, which passed the Senate Banking Committee with a 15-9 vote, aims to define the limits of SEC and CFTC authority over crypto assets and create a comprehensive market structure for the sector. The bill also includes settlement provisions regarding stablecoin yields and some legal protections for software developers who do not offer custody services.

The compromise reached in stablecoin regulation restricts interest-like payments based solely on holding tokens, while allowing rewards linked to transactions, payments, loyalty programs, or platform usage. This attempts to strike a balance between banks’ concerns about deposit outflows and crypto companies’ demands to maintain their reward programs.

If agreement on ethical provisions cannot be reached, the CLARITY Act’s progress in the Senate could be halted again, and regulatory uncertainty regarding stablecoin rewards and the implementation of the GENIUS Act provisions could persist.

*This is not investment advice.

The negative premium period on the US-based cryptocurrency exchange Coinbase, caused by the Bitcoin price falling below Binance’s, has reached its longest period to date.

According to CoinGlass data, the Coinbase Bitcoin Premium Index remained in negative territory for 75 consecutive days between May 19 and August 1. The index’s final value was recorded at -0.0959%, marking the longest period of negative premium seen since the indicator’s inception.

The previous record was a 40-day streak of negative premium recorded between January 16 and February 24. The current period also significantly surpassed the approximately 30-day period of negative premium seen during the “October 10 crash” last year.

The Coinbase Bitcoin Premium Index measures the difference between Bitcoin prices on Coinbase Pro and Binance. An index that remains in negative territory for an extended period indicates that the Bitcoin price on Coinbase is lower than on Binance. This typically signals weakening buying pressure or increasing selling pressure in the US market.

However, concluding that US institutional investors are exiting Bitcoin or that there is capital outflow from the country based solely on this indicator is not considered accurate. The index can also be affected by market liquidity, trading hours, investor profiles, and regional demand differences between exchanges.

*This is not investment advice.

More than 1,000 bitcoin, worth about $70 million, was drained from 1,196 wallets in a 41-minute window on July 30, nearly double the amount reported when the theft first surfaced.

Galaxy Research mapped the full event on Friday, finding 1,082.65 BTC swept between 01:10 and 01:51 UTC across six blocks, with three intervening blocks containing nothing, which suggests the transactions were broadcast in batches rather than continuously.

The proceeds sit in four addresses and have not moved. Early reporting captured only one of those addresses, which is why the figure has grown.

The size of the attack is much smaller than some of the bigger attacks this year, but the mechanism is what makes this unusually — and why the attack is such a big deal.

Why the Coldcard wallet exploit is a bigger deal than most exploits

Most crypto theft involves getting to something. An exchange is breached, a contract is tricked, a key is phished off a laptop. The defence has always been distance, which is precisely what a hardware wallet sells. Keep the key on a device that never connects to the internet and, theoretically, there is nothing for an attacker to touch.

When a wallet is created, the device is supposed to pick a number so large and so unpredictable that guessing it is impossible.

Validators (entities that supply their resources to run and maintain a network) were advised to reject it, and an emergency server release marked it unsupported to prevent activation. No funds were lost, because it never reached the main network.

Permission Delegation, which lets an institution grant another account narrowly scoped authority without handing over full signing power, was disclosed as vulnerable in September 2025 and disabled.

The bug allowed one account to charge transaction fees to another and potentially drain its balance. The ledger’s documentation has listed both amendments as obsolete since, to be replaced by revised versions.

The other three are new. Confidential MPT combines zero-knowledge proofs, which let someone prove a statement is true without revealing the underlying data, with elliptic-curve encryption, so that balances and transfer amounts on Multi-Purpose

Tokens stay private while auditors or regulators can still verify them when required.

Sponsored Fees and Reserves lets a bank or platform cover another account’s $XRP fees and reserve requirement, removing the need for every user to acquire $XRP before transacting.

Lastly, Dynamic MPT lets an issuer specify at creation which token properties can be changed later, avoiding a full migration to a new token when fees or metadata need updating.

Ripple’s Head of Product, Jazzi Cooper, announced five new updates that could significantly expand the use of the $XRP Ledger in institutional finance and tokenized asset markets. These features are planned for release in xrpld 3.3.0, expected next week.

Cooper stated that XRPL has already proven its ability to support tokenized assets on a large scale, and the next step is to utilize these assets more effectively in global transfers, trading, collateralization, and settlement transactions.

The first modification to be included in the new version, “Confidential MPT,” will provide native privacy features to Multi-Purpose Tokens on XRPL through zero-knowledge proofs and elliptic curve cryptography. This system will allow token balances and transaction amounts to be kept private on the public ledger. However, authorized parties, such as auditors or regulators, will be able to verify transaction details when necessary.

The “Batch” feature will allow up to eight transactions between different accounts to be executed atomically in a single ledger entry. All transactions will either be successful or none will occur. This structure is expected to facilitate corporate finance applications, particularly those involving payment-for-delivery and atomic reconciliation.

The “Delegation of Authority” arrangement will allow institutions to define limited transaction permissions without transferring full control over private keys. This means that treasury teams will continue to control asset issuance keys, while trading desks or operations teams will be able to perform specific transactions within defined limits.

With the “Sponsored Fees and Reserves” feature, banks, token issuers, or platforms will be able to cover other users’ $XRP transaction fees and account reserves. Users will retain ownership of their accounts and private keys, eliminating the need to purchase and manage $XRP before joining the network. Ripple believes this feature will improve the user experience in both enterprise and consumer-focused applications.

Finally, the “Dynamic MPT” regulation will allow token issuers to update transaction fees, metadata, and other specific features after the token is created. Under the current system, such changes may require the issuance of a new token and the migration of users to the new asset. With the new feature, issuers will be able to predetermine which features can be changed in the future during the token creation phase.

Cooper added that version 3.3.0 of xrpld is expected to be released next week, but these changes will not be automatically activated. The updates will need to be verified by validators before they can be activated on the $XRP Ledger.

*This is not investment advice.

After several days of high activity, on-chain data indicates that Shiba Inu’s exchange flow dynamics have changed once more, with netflows returning to almost neutral territory. After last week’s dramatic fluctuations, the most recent metrics show a net exchange flow of roughly -2.31 billion $SHIB over the previous 24 hours, indicating that inflows and outflows are now mostly balanced. A negative netflow indicates that slightly more tokens are leaving exchanges than are entering.

Shiba Inu moving between exchanges

In comparison to the trillions of $SHIB that frequently shift between exchanges during times of increased volatility, a figure of -2.3 billion $SHIB may seem insignificant. The most recent reading indicates that the market is entering a phase of consolidation rather than aggressive accumulation or heavy distribution.

Additional on-chain indicators corroborate that interpretation. At about 86.99 trillion $SHIB, exchange reserves are essentially unchanged, suggesting that the total quantity of tokens held on centralized exchanges has stabilized. The seven-day average of exchange outflows decreased by 16.6 percent, while exchange inflows increased slightly by 0.65%, indicating that the withdrawal wave that was observed earlier this week has begun to subside.

Despite the slowdown in exchange movements, network activity is still comparatively strong. Active receiving addresses increased by 0.86% over the previous day, while active addresses increased by 0.81%. Additionally, there was a slight increase in the number of transactions, indicating that users are still using the network despite the decline in speculative trading. Technically speaking, $SHIB is trying to stabilize following its dramatic rally and the decline last week.

At $0.00000465, the token is currently trading well above the 50-day and 100-day moving averages. After months of consistent weakness, those indicators have now started to function as close support. The 200-day moving average around $0.00000598 remains the main barrier, however.

Shiba Inu’s comfort zone

During its recent breakout, $SHIB came close to the larger resistance zone around $0.00000500, but it was unable to sustain momentum, which led to profit-taking and a return to moving-average support.

After momentarily going into overbought territory during the rally, the Relative Strength Index has also returned to normal. The RSI, which is currently in the mid-50s, indicates that momentum has cooled without turning bearish, opening the door for another attempt to rise if buying pressure resumes. As of right now, neutral exchange netflows show that neither buyers nor sellers have established a clear advantage.

The argument for fresh accumulation would be strengthened if exchange reserves started to fall while net outflows started to rise once more. On the other hand, increasing inflows combined with declining price action may indicate that more holders are getting ready to sell.

Both on-chain metrics and the technical picture point to consolidation rather than a clear directional shift, suggesting that $SHIB is currently consolidating its recent gains rather than starting a new trend.

Pi Network [PI] has been in a relentless downtrend since April 2025. The altcoin has made successive lower highs and lower lows on the longer-term price charts. Any bounces the bulls were able to enforce, such as the one in March 2026 that nearly reached $0.30, were unable to establish a bullish structure.

On July 19, the token saw yet another short-term bounce that reached a high of $0.104. It turned out to be a sweep of the liquidity clustered around the $0.10 round-number resistance.

PI crypto value has slid by nearly 21% in the two weeks since then. The Pi Network’s protocol v25 upgrade would improve stability and also bring BN254 cryptography and Poseidon hashing.

A liquidity pool containing SLICE and Test-Pi was launched recently. This test launch uses an automated market maker alongside the Pi DEX order book.

Over the past three days, from the 28th to the 30th, the token rallied by 7.1%.

Will this bounce result in further PI crypto value drawdown?

The $0.13 low from February was breached, and a new swing low at $0.07 has been established. The technical indicators on the 1-day chart were firmly in favor of the sellers.

The OBV has been trending lower throughout 2026. The CMF fell below -0.05 earlier in July to signal increased selling pressure on the token. Only recently did the indicator climb back into neutral territory.

The RSI was at 37 and has been below neutral 50 since May. Once again, it indicated dominant bearish momentum.

Traders’ call to action- There is potential for a bounce

The 4-hour swing structure was also bearish. The golden pocket, according to the Fibonacci retracement levels, was at $0.113-$0.124. Unfortunately for the buyers, an attempt to climb above the psychological $0.10 barrier was firmly refuted earlier this month.

In the short-term, the $0.083-$0.085 area must be flipped to support to give bulls hope of a resurgence.

Unless there is renewed demand for PI, further downside would be likely. A bounce toward $0.10-$0.125 would offer a selling opportunity to swing traders.

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Final Summary

• The PI crypto value saw a 7% bounce from the week’s low at $0.073.
• The technical indicators showed sellers were dominant, and a sizeable PI bounce does not appear likely in the coming days.

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The SEC has delivered an unusually blunt ultimatum to lawmakers: if the CLARITY Act stalls, the agency will write its own crypto market rules. The statement, flagged in the latest weekly roundup, injects fresh unpredictability into a regulatory process that already faces heavy bank lobbying. The warning came during a week that also saw Morgan Stanley launch spot Ethereum and Solana exchange-traded products and BNY Mellon move fund recordkeeping on-chain.

The SEC’s posture effectively raises the stakes on a bill that has been teetering in the Senate. With less than four days before a scheduled vote, major banking interests have been pushing to weaken or stall the legislation, as detailed in reports on the bank lobbying effort. The agency’s willingness to act unilaterally signals that senior officials do not intend to leave the market in a regulatory vacuum, even if Congress fails.

Morgan Stanley Opens Spot ETPs on Two Chains

On the product side, Morgan Stanley’s decision to list spot ETH and Solana ETPs marks a notable expansion beyond Bitcoin. While Bitcoin spot ETPs have been available in the US since early 2024, Ethereum and Solana products represent a deeper push into programmable blockchain exposure. The launch comes as traditional asset managers continue to test institutional appetite for multi-asset crypto baskets.

Solana’s inclusion is particularly striking. The network has drawn attention for its high throughput and growing developer base, but it has also faced outage concerns and regulatory ambiguity. Morgan Stanley’s move suggests that the bank’s wealth management clients are interested in exposure that goes beyond the largest market cap assets.

BNY Mellon Goes On-Chain for Fund Recordkeeping

BNY Mellon’s decision to shift part of its fund recordkeeping infrastructure on-chain reflects a different kind of institutional conviction. Rather than creating a new product for clients, the custody giant is integrating blockchain into its own back-office operations. The move mirrors a broader tokenization trend that accelerated this week, with total real-world assets on-chain crossing $20 billion, as covered in a recent tokenization roundup.

When a 240-year-old bank begins migrating internal processes to distributed ledgers, the signal is harder to dismiss than a press release. It suggests that cost savings and settlement efficiency are being tested inside regulated workflows, not just in startup sandboxes.

Strategy Posts a Heavy Loss While Holding Nearly 844,000 $BTC

Not every piece of institutional news pointed upward. Strategy—formerly MicroStrategy—reported an $8.22 billion second-quarter loss. The company continues to hold approximately 844,000 $BTC, making it the largest corporate bitcoin holder. The loss stems from an impairment charge driven by bitcoin’s price decline during the quarter.

The result underscores how deeply Strategy’s balance sheet is tied to spot bitcoin movements. While its conviction thesis remains unchanged, the volatility creates a unique risk profile for equity holders. The episode may also influence how other publicly traded firms approach bitcoin treasury strategies going forward.

Digital Asset Treasuries Pivot Toward AI Infrastructure

Separately, a cluster of digital asset treasury firms is quietly shifting capital from pure crypto holdings into AI data centers. The pivot reflects a search for yield-generating physical infrastructure at a time when holding digital assets on balance sheets carries significant mark-to-market risk. Several firms are repurposing mining facilities or building new capacity tailored for AI compute workloads, a trend that intersects with growing demand for decentralized storage solutions like those examined in a Filecoin price prediction analysis.

What unites these developments is a market moving on two tracks simultaneously. On one track, regulators are signaling they will tighten oversight with or without Congress. On the other, established financial institutions are embedding blockchain infrastructure deeper into their operations, while corporate treasuries adapt to the realities of holding volatile digital assets. The coming weeks will test whether that dual pressure reshapes market structure faster than Washington can legislate.