
Eligible EEA users can trade conventional US shares alongside more than 700 tokenized xStocks through Kraken’s European entity.

Bitcoin derivatives markets created a short squeeze that took BTC price action 3% higher on Monday.
Arthur Hayes has outlined a new “Yen-quake” macro thesis, arguing that efforts to support the Japanese yen could ultimately inject fresh dollar liquidity into global markets and become bullish for Bitcoin.
In his August 10 essay, Hayes focuses on the Federal Reserve’s FIMA Repo Facility, a mechanism that allows foreign official institutions to access dollars against US Treasury collateral. His argument is that a larger or more active FIMA channel could help Japan manage yen pressure without selling Treasuries outright, while still creating conditions that support risk assets.
It is an interesting theory. It is not confirmed policy.
That is the key distinction.
Hayes is laying out a speculative macro framework, not reporting that the Federal Reserve has already launched a new Bitcoin-friendly liquidity program.
For more details, visit the official Cryptotraderdigest platform.
Crypto traders watch the yen because Japan is deeply tied into global liquidity.
Yen weakness, Japanese government bonds, US Treasury holdings, carry trades, and central-bank coordination can all affect financial conditions. When funding markets shift, risk assets often respond.
Bitcoin has become part of that macro conversation.
Some investors treat BTC as a liquidity-sensitive asset. When global dollar liquidity expands, Bitcoin can benefit. When liquidity tightens, BTC often struggles. That relationship is not perfect, but it is strong enough that traders pay attention.
Hayes’ argument fits that framework.
The FIMA Repo Facility allows foreign central banks and official institutions to temporarily exchange US Treasury securities for dollars through repo transactions.
In theory, that can reduce pressure to sell Treasuries outright during periods of dollar demand. For a country like Japan, which holds a large amount of US Treasuries, the facility can be an important liquidity backstop.
Hayes’ argument is that using or expanding this channel could create more dollar liquidity.
More liquidity, in his view, could support Bitcoin, gold, and other assets that respond to monetary expansion.
That is the thesis.
The market needs to be careful here.
There is a big difference between a macro essay and an official Federal Reserve action. Hayes may be right about the incentives. He may be early. He may be wrong. The facility may or may not be used in the way he describes.
None of that is confirmed just because the theory is compelling.
Crypto markets are often quick to turn liquidity narratives into certainty. That can be dangerous. A trade built around expected policy action can fail if the policy never comes, arrives later than expected, or has a smaller effect than imagined.
Even with that caution, the thesis matters because Bitcoin traders are searching for the next liquidity catalyst.
ETF flows, corporate treasuries, stablecoin supply, rate expectations, fiscal policy, and global reserve management all feed into the same question: is there more money available to buy risk assets?
If the yen issue forces new dollar liquidity into the system, Bitcoin could respond.
If it does not, the thesis may remain just another macro scenario.
The important part is that Bitcoin is now mature enough to be discussed inside global liquidity mechanics. Traders are not only watching exchange flows anymore. They are watching central-bank facilities.
Hayes’ “Yen-quake” essay is best treated as a macro lens, not a forecast that must happen.
It gives crypto traders a framework for thinking about Japan, the Fed, Treasury collateral, dollar liquidity, and Bitcoin. That is useful, especially when markets are searching for a new catalyst.
But it should not be mistaken for confirmed coordination or guaranteed BTC upside.
The yen may become an important part of Bitcoin’s next macro story.
For now, it is still a theory.
This article is based on Arthur Hayes’ August 2026 “Yen-quake” essay.
This article was written by the News Desk and edited by Samuel Rae.
Solana climbed roughly 7% from its August 7 low to an August 10 intraday high, breaking above a descending trendline that had shaped price action since July.
Market data shows SOL moved from about $72.49 to $77.36 during the rebound. That is a meaningful short-term move, especially after several weeks of weaker momentum.
But it should not be treated as a confirmed long-term reversal.
A breakout from a multi-week downtrend can improve sentiment, but Solana still trades inside a broader market driven by Bitcoin, liquidity, ETF flows, risk appetite, and macro data. One rally changes the setup. It does not guarantee the next leg higher.
For more details, visit the official Coingecko platform.
Technical levels matter because traders watch them together.
If enough market participants see a descending channel or trendline, a break above it can change positioning. Shorts may cover. Momentum traders may enter. Spot buyers may regain confidence. Market makers may adjust hedges.
For Solana, the move from $72.49 to $77.36 gives bulls something to point to.
The asset had been under pressure, and a clean break from a downward pattern suggests selling momentum has at least slowed.
That does not mean the bearish case disappears, but it makes the chart less one-sided.
SOL rarely trades in isolation.
When Bitcoin weakens, Solana often feels it. When liquidity improves and traders rotate into higher-beta assets, SOL can outperform. That makes the asset sensitive to both crypto-specific catalysts and broader market mood.
A 7% rally is encouraging, but the next test is whether buyers keep defending higher levels if the wider market turns cautious.
Solana’s ecosystem remains active, but token price is still influenced by macro conditions, leverage, and capital rotation.
This distinction matters.
A price breakout does not automatically prove network adoption improved. It may reflect trading flows, technical positioning, short covering, or broader altcoin momentum.
Solana’s fundamentals should be measured through activity, developers, fees, apps, stablecoins, DeFi usage, NFT activity, payments, and infrastructure growth.
The price move is still worth covering because market structure matters, but it should not be confused with a full fundamental upgrade.
For bulls, the key is follow-through.
Breaking a downtrend is one thing. Holding above it is another. SOL needs sustained buying, higher lows, and enough volume to show the move is not just a brief relief rally.
If price slips back below the broken trendline, traders may treat the breakout as a fakeout.
If SOL consolidates above it, the market may become more confident that the July downtrend has lost control.
The next few sessions matter.
Solana’s 7% rebound is a positive short-term signal.
It shows buyers are still willing to step in around the low-$70s and that the market can respond quickly when technical pressure eases. But the move does not settle the larger question of whether SOL is entering a stronger trend.
For now, it is a breakout attempt with momentum behind it.
That is enough to put Solana back on traders’ screens, but not enough to declare a lasting reversal.
This article is based on public Solana market data for August 7–10, 2026.
This article was written by the News Desk and edited by Samuel Rae.
Coinbase has launched futures, options, and perpetuals for professional clients in the United Kingdom, expanding its derivatives offering through its MiFID authorization.
The rollout is not for UK retail users. Eligibility is limited to users classified as Professional Clients, which means they must meet criteria tied to trading activity, portfolio size, or relevant professional experience.
That is the most important detail.
Crypto derivatives can offer hedging, leverage, and more sophisticated trading strategies, but regulators draw a clear line between professional and retail access. Coinbase’s UK expansion gives qualifying clients more tools, while keeping retail users outside the product set.
For more details, visit the official Coinbase platform.
The UK has a complicated relationship with crypto derivatives.
Retail access has been heavily restricted, but professional and institutional markets continue to develop through regulated structures. Coinbase’s move fits into that gap: more advanced products for clients who meet professional standards.
For qualifying users, derivatives can be useful.
They allow traders to hedge spot exposure, manage risk, express views without holding the underlying asset, or structure more complex strategies around volatility and timing.
For Coinbase, the offering helps deepen its institutional and professional trading business in a major financial market.
The eligibility criteria matter because “professional” is not just marketing language.
Elective professional status typically requires users to meet certain thresholds. These can include trading frequency, portfolio size above €500,000, or relevant professional experience in financial markets.
That means a casual UK crypto user should not expect access.
This distinction protects the accuracy of the story and the regulatory framing. Coinbase is not reopening crypto derivatives to everyone in the UK. It is expanding access within a defined professional-client framework.
That may still be commercially meaningful, but it is not a retail mass-market launch.
Spot trading is only one part of a mature market.
Derivatives are where many professional traders manage exposure. Futures and options can support hedging, basis trades, volatility strategies, and risk transfer. Perpetuals, while crypto-native, are also central to liquidity and price discovery in digital assets.
Offering these products to UK professionals gives Coinbase a more complete trading stack.
It also helps the exchange compete with other venues serving institutional and sophisticated crypto clients.
The more regulated venues offer derivatives, the more professional flow may move away from purely offshore platforms.
The announcement may be especially relevant for larger assets such as Bitcoin and Ethereum, because professional derivatives demand usually starts with the most liquid markets.
Institutions are more likely to trade products where spreads are tight, liquidity is deep, and risk models are mature. That tends to favor BTC and ETH first, before moving further into altcoins.
Over time, derivatives access can help build more efficient markets around major crypto assets.
But efficiency cuts both ways. Leverage can support liquidity, but it can also amplify volatility when positioning gets crowded.
Coinbase’s expansion is another sign that the UK crypto market is becoming more segmented.
Retail users face one set of rules. Professional clients face another. Regulated firms are building inside those boundaries rather than waiting for a single open market.
That may frustrate some users, but it is likely how crypto integrates into traditional finance.
The immediate takeaway is clear: Coinbase is giving UK professional clients access to a broader derivatives suite, but ordinary retail investors are not included.
Crypto derivatives are expanding in the UK, but only through the professional lane.
This article is based on Coinbase’s official UK derivatives announcement.
This article was written by the News Desk and edited by Samuel Rae.
Riot Platforms has signed a long-term data center lease agreement tied to Anthropic, giving the Bitcoin miner another route into AI and high-performance computing as miners continue looking beyond block rewards.
The company’s filing describes a 20-year lease agreement for 191 megawatts of critical IT capacity at its Rockdale campus. The deal carries total revenue potential of up to $16.1 billion if extension options are exercised.
That is a huge number, but it needs careful framing.
This does not mean Riot is abandoning Bitcoin mining. It means the company is using its power portfolio and data-center footprint to diversify into AI compute, a strategy more miners are exploring as energy assets become valuable beyond crypto.
For more details, visit the official Sec platform.
Bitcoin miners are energy infrastructure companies as much as crypto companies.
They own or lease power capacity, operate large facilities, manage cooling, negotiate grid relationships, and build data-center environments. Those skills overlap with AI and high-performance computing, even if the hardware and customer base are different.
AI companies need power. They need data centers. They need long-term capacity.
Miners already have some of the hardest pieces in place.
That is why the sector has spent the last few years exploring whether mining sites can be repurposed or expanded for AI workloads.
Riot’s Rockdale campus has long been one of its key infrastructure assets.
A 191 MW lease tied to critical IT capacity shows how valuable that infrastructure can be when pointed at AI demand. Unlike Bitcoin mining, where revenue depends heavily on BTC price, network difficulty, block rewards, and fees, long-term compute leases can create more predictable contracted revenue.
That predictability is attractive.
Bitcoin mining is cyclical. AI compute demand is currently intense. A miner that can serve both markets may be better positioned than one relying on mining alone.
The risk is execution. AI data-center customers require different standards, capital expenditure, service-level expectations, and operational reliability.
The market should avoid overreacting in either direction.
This is not proof that Bitcoin mining is dead. It is also not a guarantee that every miner can become an AI data-center company. Power access gives miners a head start, but AI infrastructure is not just mining with different machines.
Customers like Anthropic need high reliability, networking, cooling, uptime commitments, and specialized buildouts.
Still, Riot’s agreement shows that the mining industry’s power assets have optionality. In a world where AI companies are desperate for energy and capacity, miners may have more leverage than the market once assumed.
The headline revenue potential of up to $16.1 billion is striking, but investors need to remember the “if.”
That figure depends on extension options and long-term execution. It should not be treated as immediate guaranteed revenue. The base lease, customer demand, buildout milestones, and future options all matter.
Long-term contracted capacity can be valuable, but the value unfolds over time.
For investors, the key questions are capital cost, margin profile, timing, counterparty obligations, and how the AI business sits alongside Riot’s mining operations.
The larger shift is that miners are starting to think less like pure BTC producers and more like power monetization platforms.
Sometimes the best use of power is mining Bitcoin. Sometimes it may be AI compute. Sometimes it may be grid services, hosting, curtailment programs, or hybrid models.
That flexibility could reshape the sector.
Miners with strong power assets may be valued differently from those with only machines and thin margins. Riot’s Anthropic-linked lease points in that direction.
Bitcoin mining remains part of the story. AI compute is becoming another chapter.
This article is based on Riot Platforms’ August 2026 corporate filing and data-center lease disclosure.
This article was written by the News Desk and edited by Samuel Rae.
The Wall Street banking behemoth announced earlier today that it’s preparing to take another step into the cryptocurrency industry, highlighting plans to launch digital asset custody later in 2026.
Bitcoin will be the first asset supported by the new service, which will sit alongside the bank’s traditional custody business under its newly unveiled Custody+ platform.
The press release published on August 18 indicated that Custody+ will act as a suite of near- and real-time services designed to accommodate financial markets increasingly moving toward continuous trading and faster settlement. Given one of the key differences between traditional financial assets and crypto – namely, the fact that the latter operates 24/7 – Citi explained that the crypto-focused part of the business will launch later this year.
“Digital assets already operate on near-instant settlement, 24/7. Citi expects to go live with digital asset custody later this year, starting with the custody of Bitcoin. This is being built on Citi’s common digital asset architecture, and we will offer a one-stop custody experience. Clients will access traditional and crypto custody capabilities within the same framework for an integrated experience.”
This initiative provides a more concrete timeline of Citi’s plans regarding the cryptocurrency industry, as it said last year that it was preparing to launch such custody in 2026 without a clear timeline.
Aside from starting with BTC, the banking giant failed to disclose which digital assets are scheduled to follow suit.
Citi has dabbled in the industry for years. It ramped up its efforts in 2021 by adding up to 100 people to its cryptocurrency team. Meanwhile, other US institutional behemoths, such as Jane Street Group, have increased their ETF exposure to BTC.
The post Wall Street Giant Citi to Launch Bitcoin Custody Later This Year appeared first on CryptoPotato.
Bybit intercepted more than $700 million in potential user losses between January 1 and June 15, blocking over 30,000 suspicious withdrawal requests and protecting close to 20,000 users, according to a risk and security report it published on August 18.
That compares with $300 million intercepted across the whole of 2025 under what the company then called a new AI-driven risk framework. CryptoPotato reported the earlier tally alongside the 3 million credential-stuffing attempts Bybit said it blocked that year, when its recovery work covered roughly 4,000 users.
The company said the metrics should not be read as a guarantee of future performance or as a comparative ranking of exchanges.
“The cybersecurity arms race has entered an era of minutes,” said David Zong, Head of Group Risk Control and Security at Bybit, who noted that human judgment remains “at the center of critical security decisions.”
Bybit said AI-assisted auditing identified high-severity vulnerabilities at three to five times the rate of manual review, and that automation cut the time from security assessment to testing from about two weeks to two hours.
An automated red-team platform assessed 1,489 public-facing assets and flagged more than 100 high-severity vulnerabilities, with discovery to first penetration test down to under 24 hours. More than 100,000 alerts were processed with AI assistance. Monitoring now reaches 100% of business-relevant on-chain activity, including listed token contracts and the exchange’s cold, warm, and hot wallets. Also, the initial risk reviews averaged 4.7 minutes, with 95% finished within 10 minutes.
Bybit said it handled 10 incidents involving listed token projects with no platform losses, completing emergency responses ahead of other major exchanges in eight and detecting two before the affected projects did.
This comes shortly after Bybit sued North Korea, its Reconnaissance General Bureau, and the Lazarus Group in the US District Court for the District of Columbia, announcing on August 8 that it had secured a preliminary injunction freezing identified stolen assets.
It has recovered about $48.4 million and frozen more than $30.5 million across over 28 exchanges and custodians.
“Our focus has never changed: protect our users first, recover what we can, and make sure the people behind these attacks are held accountable,” stated Ben Zhou, Co-founder and CEO of Bybit.
In February 2025, attackers drained roughly $1.46 billion, by Bybit’s count, after compromising a cold wallet signing process. As reported, the FBI attributed the theft to the Lazarus Group, which US agencies valued at $1.5 billion and traced to more than 41,000 ETH.
Security firm Blockaid counted $1.1 billion stolen across 212 incidents marketwide in the first half of 2026.
The post Bybit Intercepts $700 Million in Potential User Losses During First Half of 2026 appeared first on CryptoPotato.
BTC USD has spent much of 2026 grinding sideways in a bear market that has tested the patience of even its most committed holders. The Bitcoin prediction for 2026 has some interesting chatter around it right now, particularly from Kalshi bettors, with prediction markets fast becoming a go-to place for assessing price movements across markets.
As of mid-August, the token was trading in the low $63,000s, having spent the week bouncing between roughly $62,300 and $64,000. That leaves it down close to 27% since the start of the year and nearly 49% off its all-time high of $126,080, set back in October 2025.
With traditional forecasters split on where the world’s largest cryptocurrency goes from here, a different kind of signal has emerged: real-money prediction markets.
Kalshi, the CFTC-regulated exchange where traders buy and sell contracts tied to the outcome of real-world events, now hosts an extensive slate of Bitcoin price markets, and the crowd’s collective wager offers a strikingly bearish read on where BTC ends the year.

(SOURCE: Kalshi)
According to Kalshi’s long-horizon “price at end of 2026” market, which slices possible outcomes into $5,000-wide bands, traders currently see the most probability weighted toward the $60,000-to-$70,000 range, with the $60,000–$64,999.99 and $65,000–$69,999.99 bands both priced at roughly a flat 10% implied probability apiece.
That flatness across adjacent bands is itself a signal: rather than clustering around a single target, the market is pricing in genuine uncertainty about where Bitcoin lands, without much conviction that a big rally or a deeper crash is more likely than a continuation of the current range.
The bearish tilt shows up elsewhere too. Separate Kalshi contracts tracking when, or whether, Bitcoin reclaims $100,000 have priced that outcome as a distinct long shot.
Contracts asking whether BTC crosses six figures again this year have traded with roughly an 80% implied probability that it does not, and a companion market pricing a return above $100,000 specifically before 2027 has sat in the high teens to low 20s in percentage terms.
Traders have also priced in real downside risk, with contracts on Bitcoin falling below $50,000 before year-end carrying a majority probability at various points this year.
Check out the BTC Markets on Kalshi and Claim Your FREE $25
THE BIG MONEY IS STILL BUYING.
Fidelity’s FBTC pulled in $111.9M in fresh capital, leading U.S. spot Bitcoin ETF inflows on Aug. 17.
Retail traders are reacting to every candle.
Meanwhile, institutional capital is positioning for the bigger picture.
Short-term noise.… pic.twitter.com/YkWzxmKedG
— MR. WHALE SOL (@airdop_crypto) August 18, 2026
That skepticism lines up with the broader macro backdrop. Bitcoin’s stall has coincided with a cautious Federal Reserve, thinner institutional buying, and choppy spot-ETF flows that have only recently tilted back toward net inflows.
Analysts remain divided on whether the current calm reflects a market quietly building a bottom or simply a pause before another leg down; commentators have pointed to Bitcoin’s unusually low recent volatility as a potential setup for a breakout, while others argue the drawn-out bear market has yet to run its course.
What makes Kalshi’s numbers notable is that they represent capital at risk, not just opinion. Unlike a poll or an analyst’s price target, every contract has a buyer and a seller putting money behind a specific view, which tends to anchor the odds closer to a consensus probability than sentiment on social media does.
For now, that consensus is telling a fairly plain story: Bitcoin bulls hoping for a return to six-figure territory by year-end are, according to the market, still very much in the minority.
EXPLORE: Best Crypto Presales With Asymmetric Upside in the Current Market
The post Bitcoin Prediction 2026: What Kalshi’s Betting Markets Say appeared first on 99Bitcoins.
Ripple has partnered with Jeonbuk Bank to deploy Ripple Payments for cross-border business remittances. This is making the lender the first regional bank in South Korea to adopt the service.
Ripple also stated that the deal is its third Korean partnership this year, following agreements with KBank and Kyobo Life Insurance. The service is intended to provide near-real-time settlement for Jeonbuk’s business customers, including import-export companies, IT startups, and online content creators, who have historically relied on transfers that take days to complete.
Jeonbuk Bank is the first regional bank in Korea to deploy Ripple Payments, replacing multi-day SWIFT transfers with near real-time, 24/7 cross-border settlement for its business customers. Our third Korean partnership this year, after Kyobo Life Insurance and Kbank, partnering…
— Ripple (@Ripple) August 18, 2026
The expansion adds to Ripple’s institutional presence in South Korea, but the Jeonbuk announcement does not yet specify whether XRP, RLUSD, or another settlement asset will be used for the remittances.
Ripple Asia-Pacific Managing Director Fiona Murray said the Jeonbuk partnership reflects momentum in Korea’s institutional financial sector as financial institutions build digital-asset capabilities and seek long-term infrastructure partners. Jeonbuk Bank President Park Choon-won said the partnership would support the lender’s ambitions in digital finance and serve as a new growth engine for the bank.
Ripple Payments is presented as an alternative to traditional transfers that pass through multiple intermediary banks via the SWIFT network. Ripple said the service can complete settlement in seconds to minutes and operate around the clock, rather than relying on transfers that can take days.

Jeonbuk partnership follows Ripple’s April partnership with KBank, South Korea’s first internet-only bank. KBank serves 15 million users and is the exclusive banking partner of Upbit, South Korea’s largest crypto exchange. KBank and Ripple are conducting a second-phase proof of concept using Ripple’s Palisade digital wallet to test on-chain remittances to the United Arab Emirates and Thailand.
KBank pilot currently uses stablecoin-based settlement rather than XRP as a bridge asset. The partnership remains a multi-phase proof of concept rather than a live commercial remittance product.
Jeonbuk follows Ripple’s April agreements with KBank and Kyobo Life Insurance. Kyobo Life, identified by Ripple as Korea’s largest life insurer, partnered with the company to explore tokenized government bond settlement using Ripple Custody. Murray was involved on Ripple’s side in that partnership.
Together, the three partnerships span custody, wallet infrastructure, and payments. Ripple’s Jeonbuk release describes these different starting points as part of an approach designed to support institutions across custody, payments, treasury, and wallet infrastructure.
These partnerships are arriving as South Korea finalizes its Digital Asset Basic Act, a digital-asset framework expected to classify stablecoins as payment instruments and impose new requirements on cross-border digital-asset activity. Reporting cited in the supplied evidence says Korean financial institutions have been accelerating blockchain infrastructure agreements as the framework develops.

KBank has said it plans to continue technical verification of stablecoin remittance use cases while South Korea’s legal framework develops. It has not confirmed a commercial launch timeline for the remittance service.
The evidence supports Ripple’s expanding institutional footprint in South Korea, with three partnerships announced this year across distinct financial services. It does not establish that Jeonbuk’s deployment or the other Korean agreements will use XRP for settlement.
For now, KBank’s stablecoin-based testing and any future activation of On-Demand Liquidity remain the key distinction between broader Ripple adoption and the confirmed use of XRP.
EXPLORE: Best Crypto Presales With Asymmetric Upside in the Current Market
The post Ripple Payments Adopted by Jeonbuk Bank for Cross-Border Transfers appeared first on 99Bitcoins.
Strategy's open Q&A highlights the intricate balance between investor sentiment and Bitcoin's volatility, impacting corporate treasury strategies.
The post Strategy holds live Q&A on its $53B bitcoin treasury with no questions off limits appeared first on Crypto Briefing.
Visa's search for a new stablecoin partner highlights the intensifying competition in real-time payments, impacting global financial dynamics.
The post Visa seeks new partner for stablecoin settlement after Mastercard snags BVNK appeared first on Crypto Briefing.
Ethereum price traded near $1,905 on Aug. 18 as tightening daily and 4-hour ranges placed the $1,920 resistance level at the center of its next major move. Ethereum price tightens inside a symmetrical triangle According to data from crypto.news, Ethereum…
Forget short-term price charts – Washington’s digital asset framework is the legal authorization that conservative wealth managers have been waiting for before they can put trillions to work. Everyone seems to be watching the CLARITY Act for the same thing.…
The post What is crypto mining? appeared first on Coinlabz.
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BNB has remained one of the strongest large-cap assets in the crypto market, with the token recently trading around the $600–$610 area. The short-term structure has been relatively constructive, although BNB is now approaching an important resistance zone where buyers will need to demonstrate stronger momentum. Recent market data places resistance around $615–$620, while the $600 area has emerged as an important psychological and technical support level. (CoinStats)
Beyond price action, BNB has an increasingly important fundamental story. BNB Chain continues to expand across decentralized finance, stablecoins, real-world assets and artificial-intelligence applications, while the network’s 2026 roadmap focuses on improving speed, efficiency, security and scalability. (BNB Chain)
BNB’s recent movement has been relatively measured rather than explosive. After recovering toward the $600 region, the token has been consolidating close to resistance.
The immediate technical picture can be divided into three important zones:
Resistance: $615–$620
A decisive breakout above this area would improve the short-term structure and could attract momentum buyers. The most important factor would be confirmation through stronger trading volume rather than a brief intraday move above resistance.
Support: $600–$603
The $600 region is currently an important psychological level. Holding above it would suggest that buyers continue to defend the recent recovery. Recent market analysis has identified roughly $603–$605 as near-term support. (CoinStats)
Deeper support
If BNB loses the $600 area decisively, traders could start looking toward lower support zones. A sustained breakdown would weaken the current recovery structure and could lead to additional profit-taking.
For now, the market remains in a battle between buyers attempting to push BNB higher and sellers defending the $615–$620 region.
Recent market data shows BNB has been relatively resilient compared with several major altcoins. One recent report noted that BNB had gained roughly 8% over seven days, supported by increased activity on BNB Smart Chain and growing DeFi adoption. (CryptoRank)
Another recent market update showed BNB around $602, with the token having gained approximately 1.9% over seven days at that point. The pullback was attributed partly to broader crypto-market liquidations and leveraged long unwinding. (tradingkey.com)
This is important because BNB’s recent behavior suggests that buyers remain interested, but the market is not yet experiencing the kind of aggressive momentum that would make a breakout certain.
One of the strongest arguments for BNB comes from the activity taking place on its underlying ecosystem.
BNB Chain currently reports approximately 2.85 million daily active users, around $4.87 billion in total value locked, roughly $2.5 billion in trading volume, and very low average gas costs on its ecosystem dashboard. (BNB Chain)
These numbers highlight an important part of the BNB investment thesis: the token is not supported only by exchange-related demand. BNB is also deeply integrated into an expanding blockchain ecosystem.
BNB is used for transaction fees, ecosystem applications, staking-related functions and other activities across BNB Chain. As network usage expands, demand for the underlying ecosystem can become increasingly important for the long-term value proposition of the token.
Real-world assets are another area where BNB Chain has been gaining traction.
Recent reports indicate that the number of wallets holding tokenized real-world assets on BNB Chain has surpassed 300,000. This represents a significant milestone for the network’s RWA ecosystem and shows that blockchain adoption is expanding beyond traditional crypto-native applications. (Altcoin Buzz)
The growth of tokenized assets could become increasingly important over the next several years.
If more traditional financial assets move on-chain, networks that can provide inexpensive transactions, deep liquidity and high throughput could benefit from this expansion. BNB Chain is positioning itself to compete for that activity.
Artificial intelligence has become one of the biggest themes across crypto, and BNB Chain is increasingly targeting this sector.
According to BNB Chain, more than 200,000 AI agents were registered on BNB Smart Chain under the ERC-8004 standard as of July 2026. The network says this represented roughly 60% of registered agents across 26 networks at that time. (BNB Chain)
The ecosystem is also working on an AI-agent marketplace designed to improve the discoverability and usability of these applications.
This could become a significant long-term narrative for BNB if AI agents begin generating meaningful on-chain transaction activity.
However, investors should distinguish between registration numbers and actual economic activity. A large number of AI agents does not automatically mean equivalent demand for BNB. Sustained user activity, transactions, fees and liquidity will ultimately matter more.
BNB Chain’s 2026 technical roadmap places significant emphasis on scalability, efficiency and reliability.
The network has stated that its 2025 performance was built around priorities including speed, cost efficiency, reliability and fairness, while continuing to support growth in areas such as trading, stablecoins and real-world assets. (BNB Chain)
The broader roadmap also includes efforts to increase throughput and improve the handling of application traffic.
Separately, BNB Chain is developing a new Layer-1 architecture designed specifically for agentic trading, with a target of sub-50-millisecond transaction preconfirmation and no public mempool. The project is targeting a testnet toward the end of 2026 and mainnet deployment in early 2027. (The Block)
If successfully delivered, this could position the BNB ecosystem for a new category of high-frequency, AI-driven on-chain applications.
Security remains one of the most important issues for any blockchain ecosystem.
BNB Chain recently expanded its AvengerDAO security program, bringing together 11 security firms and offering services covering security assessments, monitoring, incident response and bug bounties. (BNB Chain)
This is more important than it may initially appear.
As BNB Chain attracts more capital, stablecoins, tokenized assets and applications, the cost of security failures becomes increasingly significant. Stronger security infrastructure can help improve confidence among developers, users and institutional participants.
A safer ecosystem does not guarantee a higher BNB price, but it can strengthen the network’s long-term fundamentals.
Another development traders are watching is the planned Pasteur hard fork.
Recent reports indicate that the upgrade is expected around August 25, 2026, with improvements aimed at areas including bridge security and validator-related controls. (CryptoRank)
Network upgrades can create short-term interest in a token because traders often anticipate improved functionality and ecosystem growth.
However, the actual long-term impact will depend on implementation and adoption. An upgrade is fundamentally bullish only if it translates into better network performance, greater usage and stronger economic activity.
BNB’s supply dynamics are another important part of the story.
BNB has a long-standing token-burn mechanism that removes tokens from circulation over time. At the same time, BNB is required across various parts of the Binance and BNB Chain ecosystem.
This creates an interesting supply-demand structure.
If ecosystem usage grows while the effective supply continues to be reduced through burns, the fundamental setup can become increasingly supportive over the long term.
Still, token burns should not be viewed in isolation. Price ultimately depends on the balance between actual demand, circulating supply, market liquidity and investor sentiment.
From a technical perspective, the first major confirmation would be a sustained move above the $615–$620 resistance zone.
A convincing breakout would ideally come with:
If these conditions align, BNB could enter a stronger momentum phase.
The market would then begin looking toward higher resistance levels rather than repeatedly testing the $600 region.
The biggest short-term warning sign would be a decisive breakdown below $600.
A failure to hold this psychological level could indicate that sellers are gaining control. The risk would become greater if the breakdown occurs alongside rising volume and broad weakness across the cryptocurrency market.
Another risk is excessive leverage.
Recent data has shown that leveraged positioning can contribute to sharp BNB pullbacks when traders are forced to close long positions. (tradingkey.com)
Therefore, even if the broader fundamentals remain positive, BNB can experience significant short-term volatility.
BNB’s performance should also be evaluated relative to Bitcoin and Ethereum.
Bitcoin continues to dictate much of the overall direction of the crypto market. When BTC enters a strong uptrend, capital generally becomes more willing to rotate into large-cap altcoins.
BNB can benefit from this environment because it combines large market capitalization with an active blockchain ecosystem.
However, if Bitcoin experiences a sharp correction, even strong BNB fundamentals may not be enough to prevent short-term selling.
This is why the BTC trend remains one of the most important external variables for BNB.
The current BNB setup can best be described as constructive but awaiting confirmation.
The $600 region remains an important support area, while $615–$620 is the key short-term resistance zone. A breakout above resistance with strong volume would significantly improve the bullish case.
At the fundamental level, the picture is encouraging. BNB Chain is expanding across DeFi, real-world assets and AI applications, while continuing to work on scalability and security. The network is also preparing for additional technical upgrades and a longer-term architecture designed for emerging use cases such as agentic trading. (BNB Chain)
The challenge is converting ecosystem growth into sustained demand for BNB.
BNB is entering an interesting phase.
The token is trading near a critical technical area, while the underlying BNB Chain ecosystem continues to expand. Network activity, RWA adoption, AI development, security improvements and upcoming infrastructure upgrades provide several potential catalysts for the long-term story.
In the short term, however, price action remains king.
A clean breakout above $615–$620 could signal that buyers are ready to push BNB into a new upward phase. Conversely, losing the $600 support zone would weaken the setup and could trigger another round of selling.
For traders, the most important things to watch are $600 support, $615–$620 resistance, volume, leverage and Bitcoin’s overall direction.
For long-term investors, the bigger question is whether BNB Chain can continue turning its growing user base, DeFi activity, RWA adoption and emerging AI ecosystem into sustainable economic demand.
BNB remains one of the most important large-cap altcoins to watch, but the next major move will need confirmation from both price and fundamentals.
This article is for educational and informational purposes only and is not financial advice. Cryptocurrency prices are highly volatile, and market conditions can change rapidly.

Ethereum (ETH) remains one of the most closely watched assets in the cryptocurrency market. After a period of significant volatility, ETH has been attempting to stabilize and rebuild momentum. Recent market data places ETH around the $1,900 area in early August, although intraday prices can move quickly in the crypto market. (Reddit)
The recent price action suggests that Ethereum is trying to establish a base after its earlier decline. ETH has been trading in a relatively tight range around the $1,900–$1,915 region in recent sessions, with trading activity moderating compared with the stronger volumes seen during previous moves. (Reddit)
For bulls, the most important development would be a sustained move above the recent resistance zone. A breakout supported by stronger volume could signal that buyers are gaining control and potentially open the door toward higher resistance levels.
On the other hand, failure to hold the current trading range could bring renewed selling pressure. Traders should therefore focus on confirmation rather than assuming that every short-term bounce represents the beginning of a major rally.
Ethereum has faced several challenges during this market cycle. ETH has underperformed Bitcoin significantly, while the ETH/BTC ratio has remained under pressure. Earlier research highlighted that Ethereum’s drawdown from its 2025 high was considerably larger than Bitcoin’s, showing how much weaker ETH’s relative performance had become. (DHLm Studio)
One important issue is value capture. Ethereum’s Layer-2 ecosystem has expanded rapidly, but greater activity on Layer-2 networks can also reduce the amount of activity and fees directly captured by Ethereum’s mainnet.
At the same time, this scaling strategy has produced major benefits for users. Research published in 2026 found that Ethereum’s upgrades had substantially increased throughput across the mainnet and Layer-2 ecosystem while median transaction fees had fallen sharply. (arXiv)
This creates an interesting long-term trade-off: Ethereum is becoming cheaper and more scalable, but investors are still assessing how that growth translates into value for ETH itself.
Ethereum’s investment case is not based purely on price speculation. The network remains a major infrastructure layer for decentralized finance, stablecoins, tokenized assets and smart contracts.
Network revenue data also shows that stablecoin transfers remain an important source of Ethereum activity. A 2026 market review found that stablecoin transfers represented the largest share of Ethereum Layer-1 revenue among the sectors analyzed. (Kraken)
This matters because sustained real-world usage can provide a stronger foundation for ETH demand than speculative trading alone.
Another factor worth watching is institutional exposure to ETH.
Corporate Ethereum holdings grew substantially during 2025, with companies building ETH treasury strategies and treating the asset as a longer-term balance-sheet holding. (Business Standard)
The thesis is different from simply holding cash. ETH can potentially provide staking rewards while also giving institutions exposure to Ethereum’s broader ecosystem.
However, corporate accumulation should not automatically be interpreted as a guarantee of higher prices. These strategies can change with market conditions, financing costs and investor sentiment.
From a technical perspective, ETH traders should focus on three broad areas:
1. Current support zone
The $1,900 region has recently acted as an important area of price consolidation. Holding this zone would help maintain the short-term recovery structure.
2. Psychological resistance
The $2,000 level is an important psychological barrier. A convincing move above it could improve market sentiment and attract additional momentum traders.
3. Higher resistance
If ETH successfully breaks above $2,000 and establishes support there, the market could begin testing higher resistance zones. The strength of volume will be important because a breakout without meaningful participation can quickly turn into a false move.
Several factors could strengthen the bullish case:
A combination of these factors would provide a much stronger signal than price appreciation alone.
There are also several risks.
Bitcoin continues to influence the direction of the broader crypto market, meaning a major BTC correction could put pressure on ETH regardless of Ethereum’s own fundamentals.
Ethereum also faces intense competition from other blockchain ecosystems. Lower transaction costs and faster networks are positive for users, but Ethereum must continue attracting developers, liquidity and applications to maintain its position.
Finally, macroeconomic conditions remain important. Higher interest rates, tighter liquidity and weaker risk appetite can reduce demand for volatile assets such as cryptocurrencies.
Ethereum’s current setup is best viewed as a recovery attempt rather than a confirmed new bull trend.
The recent stabilization around the $1,900 area is encouraging, but ETH needs to reclaim important psychological and technical resistance with stronger volume before the bullish case becomes more convincing.
The most important question is not simply whether ETH can move higher for a few days. The bigger question is whether Ethereum can convert its growing ecosystem, scaling improvements and institutional interest into sustained demand for ETH.
If buyers successfully reclaim major resistance and the broader crypto market remains supportive, ETH could enter a stronger recovery phase. If resistance continues to hold and volume remains weak, consolidation or another retest of lower support levels remains possible.
Ethereum remains one of the most important assets in the digital-asset ecosystem, but its price recovery faces both opportunities and challenges.
The short-term picture depends heavily on price structure, volume and Bitcoin’s direction. The longer-term picture depends on Ethereum’s ability to maintain its dominance in DeFi, stablecoins, tokenization and smart-contract infrastructure while ensuring that network growth translates into meaningful value for ETH.
For traders, the key is confirmation. For long-term investors, the more important story may be whether Ethereum’s expanding ecosystem can continue generating sustainable demand over time.
As always, cryptocurrency markets are highly volatile, and technical levels can change quickly. This article is for educational purposes and should not be considered financial advice.
The new report maps the illicit and legitimate uses of crypto privacy tools, drawing on data from TRM Labs, Chainalysis, the RAND Corporation, the United Nations Office on Drugs and Crime (UNODC), Statista, and U.S. Treasury Department disclosures. It argues that the current regulatory focus is aimed at the wrong layer of the transaction stack.
In early 2026, Polygon Labs announced $250 million in acquisitions of Coinme and Sequence to expand its stablecoin payments infrastructure. Coinme provides licensed US fiat on- and off-ramps with a nationwide retail footprint, while Sequence adds enterprise wallet infrastructure and one-click cross-chain transaction capabilities. Together, these additions strengthen Polygon’s position in regulated, production-grade stablecoin payments.
Caroline Crenshaw’s departure from the SEC on January 2 marks a turning point for crypto regulation in Washington. The longtime cryptocurrency skeptic’s exit leaves the commission operating under a 3-0 Republican majority—a historic shift that clears the way for Paul Atkins’ pro-innovation agenda to move forward without meaningful internal opposition.
Crenshaw spent over a decade at SEC agency, consistently raising concerns about cryptocurrencies, digital assets and investor protection.
Her exit coincides with the broader regulatory reorganization under the Trump administration, which has explicitly positioned itself to make the U.S. the “crypto capital of the world.”
The commission now operates with fewer members than authorized, as Trump hasn’t yet filled the vacant seats—a strategic pause that effectively gives the Republican-majority commissioners free rein on policy.
The timing couldn’t be sharper. SEC Chair Paul Atkins has already signaled plans to introduce an “innovation exemption” that would let crypto startups test new products under lighter regulatory requirements, provided they meet basic consumer protections. [3][7] That proposal was expected within 30 days of December 2, meaning it could arrive any moment. With Crenshaw gone, there’s no institutional voice pushing back on the exemption’s scope or implementation details.
The broader regulatory picture is also shifting. The Senate is scheduled to hold hearings in January on the CLARITY Act—landmark legislation designed to end years of turf warfare between the SEC and CFTC by clearly dividing jurisdiction over different crypto products. [3][7] White House crypto adviser David Sacks said in December the bill is “closer to passage than at any point in the past.” [3] These aren’t minor procedural tweaks. They represent a fundamental reordering of how Washington approaches digital assets.
The real action starts immediately. Watch for the innovation exemption announcement—it could drop with minimal fanfare. Then track the Senate hearings on CLARITY in January. If that bill moves to a floor vote and passes, the crypto industry will have concrete answers about regulatory jurisdiction for the first time in years. Markets have been pricing in regulatory clarity for months. Crenshaw’s departure removes one of the last obstacles to delivering on it.
The post SEC’s Pro-Crypto Shift Accelerates as Key Skeptic Crenshaw Exits appeared first on The Coins Post.
PEPE just ripped 26% higher on January 2, hitting $0.000005106 as trading volume exploded past $800 million.
That’s no thin pump—retail’s back, Robinhood holders sitting on 8.3% of supply, and a Hyperliquid whale named James Wynn dropped a bombshell prediction: $69 billion market cap by end-2026. If you’re trading memes, this is your wake-up call. Why now? New year FOMO meets bold calls in a market where BTC chills at $88k.

PEPE’s ERC-20 on Ethereum. No fancy DeFi twist here—just pure meme liquidity. Volume spiked 370-400% in 24 hours, open interest jumped 82% to $446.5 million on derivatives. RSI hit 67, screaming bullish momentum after breaking $0.0000042 resistance.
Whales aren’t dumping. That official “We ride at dawn” tweet lit socials on fire—crypto Twitter’s buzzing. Supply’s fixed at 420.69 trillion tokens. If Wynn’s right, that’s $0.000164 per PEPE. Math checks out. But Ethereum gas? Still a killer for small trades.
Total crypto cap up 1.07% to $2.99T. BTC +1.21% at $88,765, dominance slipping to 59.22%—alts eating its lunch. PEPE led top gainers, outpacing Story (+25%) and Mog. Volumes hit $164B market-wide. No massive liqs reported, but meme sector OI surging means leveraged degens are in.
BTC’s post-halving year ended red for first time ever—down 6% in 2025 despite $126k ATH. ETFs pulled $348M, but macro liquidity rules now. PEPE doesn’t care—it’s riding retail hype while big boys consolidate.
James Wynn, that Hyperliquid ser, straight-up said PEPE hits top meme status like SHIB did last cycle—if bull market holds. “We ride at dawn” from @pepe went viral. Community’s pumping: “PEPE to the moon” threads everywhere. No official team—it’s anon dev vibes.
Exchanges? Volumes exploding on Binance, MEXC. No rugs spotted. Traders on X calling for $0.000026 ATH retest. Sarcasm alert: Great timing for memes while BTC whales accumulate quietly. Holders care about flips, not halving myths.
But is this sustainable? Meme pumps fade fast.
Don’t get rekt. PEPE’s been rugged before—no premine, but watch whale wallets. Use hardware for big bags; software wallets fine for sub-$1k. Check Etherscan for suspicious transfers. Avoid leverage over 5x—OI spike means liqs incoming on pullbacks.
Actionable: Set stops below $0.0000042. DCA if you believe Wynn. DYOR on Hyperliquid perps for leverage without CEX KYC. Phishing’s rampant post-pumps—double-check links. If you’re aping memes, keep it under 5% portfolio. Skin in the game matters, but don’t YOLO rent money.
$0.000005 close today flips structure fully bullish. Watch BTC dominance drop—alts feast. Wynn’s $69B? Ballsy. If ETH L2s cut fees, PEPE volumes could 10x. Macro: Fed liquidity print January 2nd might juice risk assets.
Pullback to $0.0000045? Buy dip. Break $0.000006? Targets $0.00001 easy. Meme season back? You tell me. Trade smart—2026’s rewriting rules.
The post PEPE Explodes 26% in 24 Hours—James Wynn Calls $69B Market Cap by Year-End, Meme Degens Pile In appeared first on The Coins Post.
Ripple CTO emeritus David Schwartz shares fresh update on the size of his XRP holdings.
As rumors fly over hacking Satoshi’s Bitcoin wallets, tech experts reveal the brutal reality of guessing a private key to a forgotten $70 billion fortune.

Washington kept crypto’s biggest legislative hope alive, Wall Street pushed deeper into digital assets, and a security scare sent billions of dollars of bitcoin moving between wallets.


Klippsten said Bitcoin could bottom about a year after its previous peak and argued that crypto’s best outcome is to become part of TradFi.
Bitcoin could bottom in October before recovering to around $130,000 ahead of the 2028 halving, according to Swan Bitcoin CEO Cory Klippsten.
Bitcoin’s (BTC) price peaked above $126,000 in early October 2025, meaning that the “market should bottom in October,” Klippsten told Cointelegraph.
He argued that Bitcoin has so far bottomed about 12 months after each previous bull market peak, while cautioning against extrapolating from only a few previous cycles.
Read more
The US Treasury has proposed the first regulations under the GENIUS Act, a 77-page rule setting who may issue, offer and sell payment stablecoins in the United States, and opened a fresh comment period on it.
The notice of proposed rulemaking was filed for public inspection on 17 August and published a day later under docket TREAS-DO-2026-0496.
It would create a new part 1523 of title 12 of the Code of Federal Regulations, implementing section 3 of the Act, the provision deciding who may put a payment stablecoin in front of an American. Comments are due 60 days after publication, and Treasury has attached 87 numbered questions to the text.
Read more: Trump, Truth Social Sued Over $100K Fast-Track Access
The Act was enacted on 18 July 2025, and its effective date is expected to be 18 January 2027. A separate provision, barring digital asset service providers from offering a payment stablecoin to a US person unless a permitted issuer minted it, does not apply until 18 July 2028.
Foreign issuers face the earlier deadline; as of the effective date, a platform may not offer, sell or make available a foreign-issued payment stablecoin in the US unless the issuer can technologically comply with lawful orders. The Treasury Secretary has determined its home regulator’s regime is comparable to the US one, and it is registered with the Office of the Comptroller of the Currency.
Section 3, the Act states, “is intended to have extraterritorial effect if conduct involves the offer or sale of a payment stablecoin to a person located in the United States.” Under the Act, issuing without permission carries a fine of up to US$1 million (AU$1.4 million) for each violation, up to five years in prison, or both.
Read also: Hyperion DeFi Triples Profits to US$31M, Defies DAT Sector Slump
Treasury’s proposed section 1523.3 treats advising potential purchasers on how to evade location detection or restriction mechanisms as an activity constituting an offer or sale.
The proposal also makes clear a stablecoin issuer can itself be a digital asset service provider, so both sets of obligations can apply at once. A further section sets out exemptions and safe harbours, and the Treasury asks whether more are needed.
The US Treasury is one of several agencies writing rules under the law. The FDIC opened its own 60-day comment period on how supervised banks would apply to issue stablecoins through subsidiaries, with a 120-day review window under Acting Chairman Travis Hill.
President Donald Trump signed the Act on 18 July 2025, when the stablecoin market was worth about US$250 billion (AU$350 billion).
Read more: Reporter Poses as VC to Expose Suspected North Korean Crypto Operatives
The post Treasury Opens Comment Period on GENIUS Act Stablecoin Rules appeared first on Crypto News Australia.
Turns out Binance handed Russian investigators the identity and transaction details of a customer who donated to Ukrainian fundraising campaigns, and Russian prosecutors used the material to charge him with terrorism financing.
According to a Reuters report, Russia’s Investigative Committee said on 13 October 2025 that Yuri Belenkiy, a 49-year-old IT specialist with a Russian passport and Bulgarian residency permit, sent more than US$700 (AU$980) between January 2023 and March 2024 to the Ukrainian military and the group known as the Azov Brigade and Azov Regiment, which Moscow designates a terrorist organisation.
He was detained in September 2025 and is awaiting trial.
Read more: Goldman Sachs Buys NEOS Investments in $2.25B Deal for Instant Crypto ETF Foothold
Investigators asked Binance for his transaction history, according to the documents, and it replied with transfer details plus his date of birth, address, telephone number and passport number, and copies of both identity documents.
The Investigative Committee also asked Binance to identify others who sent funds to the same wallet, advertised in an online appeal by exiled Kremlin critic Arkady Babchenko; the documents do not show the outcome. They were obtained by The First Department, which supports people prosecuted in Russian political cases.
Binance wrote in April 2022 that it “reserves the right to reject law enforcement requests should they not stand up to legal scrutiny; this applies to all jurisdictions including Russia”, and that it had placed certain restrictions on requests originating from Russia.
The company agreed on 27 September 2023 to sell its entire Russian business to CommEX with no ongoing revenue split and no option to buy it back. “Operating in Russia is not compatible with Binance’s compliance strategy,” Chief Compliance Officer Noah Perlman stated at the time.
“We cooperate with lawful information requests from law enforcement globally, subject to applicable legal, privacy and regulatory requirements,” a Binance spokesperson told Reuters, adding the company does not determine charges or decide how governments use information.
Mike Bystrov, founder of law firm Stellar Consulting and a former member of the legal team that represented Binance in Russia, said the exchange was under no obligation to hand over the data and may, in fact, have been obligated not to.
Reuters reported previously that Binance’s regional boss met Russian financial monitoring officials in 2021 who sought help identifying customers donating Bitcoin to Alexei Navalny; Binance said then it had never been contacted by Russian authorities about him.
Binance Australia began collecting sender and recipient details on every transfer on 1 July under AUSTRAC’s Travel Rule.
Read more: Tether Secures First Full Audit With Clean KPMG Opinion
The post Binance Shared Crypto Donation Data With Russia Despite Exit, Reuters Reports appeared first on Crypto News Australia.
Trump-linked World Liberty Financial gets conditional U.S. bank approval as the SEC delays its crypto meeting, adding new twists to Washington’s crypto plans.
The post Trump wins crypto bank license, White House seeks few good pirates appeared first on CoinGeek.
Blockchain is gaining attention in Asia Pacific cross-border payments, with 26% of regional news coverage focusing on CBDCs, stablecoins, and tokenization.
The post Hong Kong, Japan lead APAC blockchain payments push appeared first on CoinGeek.
Bitwise has returned with conviction. Will Chainlink’s price follow its institutional demand?
BitMart’s wind-down remains unsettled as users await clearer asset and repayment disclosures.
Plus, Ethereum researchers are prioritizing privacy; Robinhood is rolling out agentic trading; and Ansem debuts his own launchpad.
The bid protest, filed in the U.S. Court of Federal Claims, challenges ICE's sole-source award for blockchain forensic tools, pitting the two biggest names in crypto tracing against each other.
Galaxy's Aug. 7 snapshot of Aave V3 Core found 19,073 loans on the protocol after applying standard filters. Fewer than 9% of those positions are using Aave's E-mode setting, account for roughly half of all outstanding debt on the platform, and show an Ethereum correlation trade.
Galaxy puts their debt-weighted loan-to-value near 90%, their average health factor around 1.06, and their debt-to-equity ratio near 10.7 times. The remaining 91% of positions carry a debt-weighted LTV closer to 49%, a health factor around 1.79, and debt-to-equity near 1.07 times, a profile with far more room to absorb a bad day.
| Borrower group | Share of positions | Share of debt | Debt-weighted LTV | Avg. health factor | Debt-to-equity |
|---|---|---|---|---|---|
| E-mode borrowers | 8.91% | ~50% | ~90% | ~1.06 | ~10.7x |
| Other analyzed borrowers | ~91% | ~50% | ~49% | ~1.79 | ~1.07x |
Galaxy found that Ethereum staking and restaking wrappers, including weETH, rsETH, and wstETH, make up about 66.2% of the collateral backing these loans, with weETH alone accounting for roughly 42%. On the other side of the ledger, WETH makes up about 73% of the group's debt.
Galaxy describes the exposure as a concentrated bet on Ethereum's staking basis and the relationship between these liquid-staking tokens and the ETH they represent.
E-mode lets Aave extend higher borrowing limits when collateral and debt are expected to move together. If a borrower's collateral and debt track each other closely, a much higher LTV can carry roughly the same risk as a conservative loan between two unrelated assets.
If weETH falls 10% and the WETH debt against it falls the same 10%, the health factor barely moves, since both sides of the position are sliding together. The real danger sits in the exchange rate between the wrapper and Ethereum itself.
If weETH, rsETH, or wstETH starts trading at a discount to the ETH they represent while the debt stays fixed in WETH terms, the collateral weakens relative to what is owed. That can happen even if ETH's price never moves.
Aave calculates the health factor by multiplying collateral value by a weighted liquidation threshold and dividing the result by total borrowed value. A position becomes eligible for liquidation once that figure drops below 1.
Starting from Galaxy's 1.06 average for the E-mode cohort, the built-in cushion works out to roughly 5.7% before the average position reaches that line.
A rough proportional model applies that cushion to the 66.2% of collateral held in Ethereum wrappers. It points to a broad-basis discount in the high single digits, around 8% to 9%, as the level that could push the average E-mode health factor toward 1.
Liquidations would depend far more on each account's specific collateral mix, liquidation thresholds, oracle pricing, and debt composition than on the cohort average.
In a May analysis, Galaxy found that a 10% weETH depeg would leave Aave with about $2.47 billion in debt against $2.42 billion in post-shock collateral, pushing 205 accounts below a health factor of 1. Stress escalated sharply once the depeg moved from 3% to 5%.
| Wrapper/ETH basis move | Approx. effect on E-mode risk | What it means |
|---|---|---|
| 0%–2% discount | Correlation mostly holds | E-mode remains a high-efficiency trade, not a liquidation event |
| 3%–5% discount | Weakest accounts become sensitive | Borrowers may need to add collateral or repay WETH |
| 8%–9% discount | Average E-mode health factor approaches 1 | Cohort-wide liquidation risk becomes material |
| 10% discount | Galaxy’s May model showed 205 accounts below a health factor of 1 | Forced deleveraging becomes visible in the ETH-staking loop |
Galaxy's broader second-quarter report describes crypto lending as shrinking in a controlled way. Total crypto-related debt fell 15.08% from the prior quarter to $73.2 billion, a third straight quarterly decline the firm likens to taking the stairs down.
That language is deliberately different from the single-quarter collapse that defined 2022.
The debt split between Aave's E-mode and standard loans ran closer to 60/40 in favor of E-mode back in April and has since narrowed to roughly 50/50 by Aug. 7, entirely because outstanding E-mode debt declined.
Even with that decline, the cohort still carries close to half of all debt on the platform while making up fewer than one in ten positions, which raises the real question behind the aggregate numbers.
Has crypto leverage spread itself thinner, or has it concentrated into a smaller number of positions still large enough to carry real systemic weight?
A widening discount between an Ethereum wrapper and ETH itself weakens collateral relative to WETH debt, pulling health factors down. Borrowers watching that decline have two ways to respond: adding fresh collateral or repaying part of the WETH they owe.
Anyone who does neither and drops below a health factor of 1 becomes eligible for liquidation, a permissionless process where liquidators repay debt and take the underlying collateral plus a bonus for doing so.
The bull case assumes the ETH wrapper basis holds inside a narrow band, probably under 2%, while E-mode debt keeps shrinking at its current gradual pace and health factors stay comfortably above 1.
Under that path, the concentration Galaxy identified keeps fading on its own, and crypto's broader deleveraging story extends into its highest-risk corner without ever forcing a wave of liquidations.
The bear case assumes that basis widens into the high single digits across weETH, rsETH, and wstETH at once. That pushes the average E-mode health factor down toward 1 and forces the weakest accounts into liquidation first.
Under that path, the forced selling would concentrate specifically in leveraged ETH staking exposure, since that is what the collateral and debt in this cohort represent.
| Scenario | Wrapper/ETH basis | What happens to E-mode borrowers | Market implication |
|---|---|---|---|
| Bull case | Discount stays under ~2% | Health factors remain above 1; E-mode debt keeps shrinking gradually | Concentration fades without forced liquidations |
| Stress case | Discount widens to ~3%–5% | Weakest accounts add collateral or repay WETH | Leverage pressure appears, but remains contained |
| Bear case | Discount reaches ~8%–9% | Average E-mode health factor moves toward 1 | Liquidation risk becomes systemic inside the cohort |
| Severe depeg | Around 10% or more | Galaxy’s May model showed 205 accounts below a health factor of 1 | Forced selling concentrates in leveraged ETH staking exposure |
Crypto leverage is shrinking in aggregate, but Aave's own numbers show that shrinkage has not been even. What remains is concentrated in a small number of highly leveraged ETH-basis positions.
The risk is whether the collateral backing these loans keeps trading like ETH, a narrower and more specific question than the direction in which ETH itself moves.
The post Half of Aave’s debt sits in just 9% of positions built around one Ethereum correlation trade appeared first on CryptoSlate.
The US 30-year Treasury yield crossed 5.3% on Aug. 17 for the first time since June 2007, the same day Galaxy published a report showing crypto-collateralized lending down more than $22 billion from its peak. Bitcoin hit an intraday high of $64,610.01 that day.
What makes the Treasury move unusual is its direction against the broader macro picture. Soft economic data this week pushed traders to cut the odds of a September Fed move to about 31%, down from 55% a week earlier, the kind of reaction that usually pulls long yields lower.
The 30-year kept climbing anyway, reaching 5.2954% and as high as 5.314% intraday, putting it on track for its first close above 5.3% in nineteen years.
| Signal | What changed | Read-through for Bitcoin |
|---|---|---|
| Long-end Treasury pressure | 30-year yield crossed 5.3%, highest since 2007 | Raises the hurdle for non-yielding assets like BTC |
| Fed expectations | September move odds fell to 31% from 55% | Shows the pressure is not just a Fed-hawkishness story |
| Real yields | 30-year real yields near 3%, close to an 18-year high | Makes inflation-adjusted Treasury returns more competitive |
| Crypto credit | Collateralized lending down $22.53B from peak | Reduces the leftover credit overhang BTC has to absorb |
| Bitcoin price | BTC traded as high as $64,610.01 | The stress test is happening near a live market level |
Reports tied the move to worries over the US fiscal trajectory alongside heavy AI-related corporate debt issuance. The 30-year real yields are sitting near an 18-year high around 3%, as both governments and AI companies ramp up borrowing at once.
Alphabet, Amazon and Meta alone have issued almost $220 billion in bonds so far this year, more than double the $108 billion the same three companies issued across all of 2025.
That borrowing wave competes directly with Bitcoin for long-duration capital, since investors can now lock in a real, inflation-adjusted return from Treasuries while Bitcoin still pays no yield natively.
Crypto enters this stretch with considerably less collateralized debt than it carried at its last peak.
Galaxy's Q2 2026 leverage report puts crypto-collateralized lending at $56.16 billion, down $11.33 billion in the quarter alone and $22.53 billion below the $78.69 billion high the market reached in the third quarter of 2025.

Borrowing on DeFi lending apps fell from a $47.13 billion peak last September to $21.94 billion by July 21, down more than 53%. Total crypto-related debt has now fallen for three straight quarters.
Crypto-backed lending collapsed by more than 55% in a single quarter in 2022. It kept falling another 9% and 29% over the two quarters that followed, as lenders failed and forced liquidations cascaded through the market.
This time the declines have come in steadier steps, roughly 10%, 5% and 17% across three consecutive quarters. Galaxy describes that pattern as gradual risk reduction, a different mechanism than the forced unwind that defined 2022.
The earlier cycle ran on a loop of falling prices, margin calls, and lender failures feeding each other. This one has already done most of its shrinking before the market even faced its current stress.
| Period | Lending decline pattern | Market mechanism | Why it matters |
|---|---|---|---|
| 2022 unwind | >55% in one quarter, then -9% and -29% | Forced liquidations, lender failures, margin pressure | Credit stress amplified price declines |
| Current cycle | Roughly -10%, -5%, and -17% over three quarters | Gradual risk reduction | Less evidence of a lender-driven cascade |
| Current futures market | OI rose from $103.2B to ~$114B by end-July | Faster-moving derivatives exposure rebuilt | Liquidation risk remains, but in a different form |
Galaxy's data shows total futures open interest ending the second quarter at $103.2 billion. It climbed back to roughly $114 billion by the end of July, up nearly $11 billion in a single month. Bitcoin futures open interest alone dipped to about $45 billion during the quarter before recovering toward $48 billion.
Galaxy cautions that open interest is not the same thing as leverage, since some of those positions are hedged against spot holdings and not purely directional bets. Still, the market's shape has changed.
The slow-moving collateralized lending that produced 2022's cascading failures has shrunk considerably, while the faster-moving derivatives exposure that drives sudden liquidation events has been rebuilding.
If Bitcoin weakens while Galaxy's lending figures keep declining at their current gradual pace, that points toward a macro-driven selloff. High real yields and heavy Treasury and corporate bond supply would be doing the damage on their own, with crypto's unfinished deleveraging playing a minor role at most.
If collateralized lending suddenly accelerates its decline alongside a Bitcoin selloff, or futures open interest collapses abruptly where it would normally just ease, that would look more like the credit-driven cascades of the last cycle.
The bull case has the 30-year retreating below 5.1% or real yields easing off their current highs, giving Bitcoin room to reclaim the $67,000 to $72,000 range. Futures open interest stays roughly stable, and collateralized lending does not re-expand aggressively.
That combination supports the idea that the $22.5 billion credit unwind already completed lets Bitcoin absorb a long-rate shock this severe without repeating 2022.
The bear case has the 30-year pushing toward 5.4% to 5.7% while real yields hold near their multi-decade highs, dragging Bitcoin below $60,000 and toward the $52,000 to $58,000 range.
| Scenario | Treasury signal | Bitcoin signal | Leverage signal | Interpretation |
|---|---|---|---|---|
| Bull case | 30-year falls below 5.1% or real yields ease | BTC reclaims $67K–$72K | Futures OI stable; lending does not re-expand aggressively | Credit unwind helped BTC absorb the rate shock |
| Macro-led bear case | 30-year pushes toward 5.4%–5.7% | BTC loses $60K, tests $52K–$58K | Futures OI drops; liquidations rise; lending declines gradually | Bond market is driving stress, not lender contagion |
| Credit-cascade case | Long yields stay high | BTC sells off sharply | Collateralized lending decline accelerates abruptly | Looks more like 2022-style deleveraging |
| Neutral/chop case | 30-year holds near 5.3% | BTC stays near $60K–$66K | OI eases modestly; lending keeps shrinking slowly | Market absorbs the shock without a clear break |
Futures open interest contracts sharply and liquidations climb, while Galaxy's lending figures keep falling at their current gradual pace without accelerating. That combination would mark the selloff as macro-led and derivatives-amplified, distinct from the lender failures that turned 2022's decline into a cascade.
Bitcoin is walking into a Treasury-rate environment it has never faced before, carrying a credit structure that looks nothing like the one that broke in 2022. Whatever happens next should finally show whether the bond market or crypto's own leverage has been driving Bitcoin's stress all along.
The post Bitcoin faces its highest Treasury hurdle since 2007 with $22.5B less crypto credit to unwind appeared first on CryptoSlate.
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Bitcoin Magazine

The Pack Is the Painting: Evil Biscuit and the Schizocollage Movement Come to Hong Kong
In 1956, at an exhibition hall in Tokyo, a Japanese artist named Saburō Murakami ran through a row of paper screens, leaving a torn, human-shaped hole in each one. The audience heard the rip in the moment but likely didn’t understand it.
Murakami belonged to Gutai, the radical postwar avant-garde collective whose members painted with their feet and fought with mud, and his gesture made an argument the art world is still digesting, but ultimately the tearing and the wreckage after were the actual artwork.
Seventy years later, the ripping hasn’t stopped. Trading card livestreams, Discord server groups, collector markets of all sorts, gambling/flipping, and nostalgia freebasing. Layered detritus. The artist named Evil Biscuit seems aware of this.
If you haven’t heard of Evil Biscuit, you may not have been watching one of the strangest and most vital corners of internet art. Over the past few years, a scene of mostly pseudonymous artists, formed across crypto subcultures, Twitter timelines, and private group chats, has been quietly staging one of the more genuine artistic rebellions of the decade.
Where the establishment crypto-art world courted galleries with polished generative work, these artists went the other direction. Images so dense with meme references, anime, veiled art history, and internet debris that critics had to invent new words for them. They called the style schizocollage or traitmaxxing, a practice of taking the trait system that generates ordinary avatar collections and pushing it past its breaking point, hundreds of layers deep, until the image verges on chaos.

Critics started paying attention. In Spike Art Magazine, Dean Kissick placed the work in the lineage of deliberately “bad painting”, a tradition with serious credentials: Marcia Tucker staged ‘Bad’ Painting at the New Museum in 1978, arguing that wrongness, handled deliberately, is a form of freedom. Right Click Save filed dispatches from what it called the Avant NFT underground. And the movement’s participants, with characteristic self-mockery, settled on their own name for it: Avant/Gay.
Near the center of the scene sits Biscuit. His Drifella collections are widely cited as its defining works, and artist Parker Ito, the post-internet veteran who crossed over into the movement, credits Drifella 2 with establishing the aesthetic the whole scene became known for, and went on to collaborate with Biscuit on last Halloween’s Heavy Liquid Graphic. The endorsement cuts both ways: the art world is starting to take this seriously, and the scene got there without asking anyone’s permission.
Lately, Biscuit’s work has been escaping the screen, and the destruction has gotten literal. His current project, Card NFT 2, debuted with preliminary ‘Framed Cards’ through SOLOS Gallery at Felix Art Fair this February. And earlier this summer he made roughly eleven thousand cards, sold in packs, each digital card redeemable for a physical one if the collector is willing to burn the NFT to get it. For the rarest tier, as he told Peter Bauman at Le Random, he takes vintage holographic Pokémon cards, dissolves the ink off them with acetone until only the bare silver foil remains, then UV-prints entirely new artwork onto the wreckage. Saburō Murakami would understand. One theme runs through everything Biscuit makes: “destruction, death and rebirth.”

Now Biscuit’s art is headed to Hong Kong. He is contributing to the Bitcoin Asia 2026 conference card pack produced by the artist Rax, where his cards will sit alongside work by Ariamis (formerly Terrorism) — his New Bad Image co-exhibitor, a younger artist pouring Renaissance devotional imagery into the card format, and several other key artists in this movement. The pack is something like a satellite of the show, sealed in foil. And it sits exactly on the fault line this scene has been working: the old hierarchy between artwork and collectible has collapsed, and the most interesting artists now make objects that are both at once.
Internet art has always come from rooms the trad art world ignored: forums, blogs, group chats, and now crypto. BMAG has been working in one of those rooms for years: it’s the Bitcoin conference art gallery. When the painter Nardo showed at Bitcoin MENA in 2024, our conversation circled around memes as units of cultural transmission. A year later his Citadel, a seven-foot oil painting built from a 4chan meme, debuted at the Bitcoin Conference in Las Vegas, a monument raised to an internet shitpost.
Ahead of the BMAG Card Expo at Bitcoin Asia and the pack’s release, I sat down with Biscuit to talk about coming up in the internet’s wildest art scene, why the trading card keeps pulling digital artists toward cardboard, and what collectors keep getting wrong, and right, about both.

BMAG: Your father runs a comic shop, and you’ve talked about digging through his boxes to find the source material. What is a core memory from your time in your dad’s comic shop? What did those boxes teach you about why people collect?
EB: Yeah, some of the deep ties I have with trading cards come from my experience playing in Yugioh tournaments and collecting when I was a young kid at my father’s shop.
I was quite a shy young kid so it was definitely an experience going to play for the first time with a nonsense 100+ card deck against older teenagers. I remember this one autistic kid used to sit outside on a pillar and he would meditate before his matches channeling anime characters and talking to himself.
Pokémon was around ever since I was born so playing my older brother’s games and going to church where they would trade cards and show off their binders were core memories before I was even 6 years old. The shop closed down when I was really young and before I became serious about making art some years ago my dad and I opened it back up selling comics, vintage video games and trading cards.

card nft – 2024
BMAG: Jefferson Burdick, the father of American card collecting, spent his final years putting thousands of cards into albums at the Metropolitan Museum of Art. Art Spiegelman was at Topps inventing series like Garbage Pail Kids before mainstream success. Brian Droitcour recently made the observation about the trading card medium: a Magic card is an image that does something, rarity and function entwined, while NFTs inherited that logic and captured only the rarity. What can cards do that a painting can’t?
EB: A lot of my work I see as paintings. Trading cards became the substrate and source material that I drew from with card nft 1 & 2.
The sheer scale that you can work with creating paintings/trading cards/NFTs and proliferating them throughout collectors is something that you just can’t compete with on any level. To me, being a serious young artist means being curious enough to experiment with the tools and formats shaping our generation—whether that’s AI, NFTs, or trading cards. Putting these all in the same context as painting is really interesting to me.

card nft – 2024
BMAG: Photography has a beautiful old term, the latent image: the picture that already exists on exposed film but stays invisible until developed. A sealed pack is a stack of latent images, and opening it is the development, the moment the possible becomes the particular. You’ve said a third of your redemption collectors never open the pack at all. They’ve chosen to keep the artwork latent forever. When you’re generating a collection, do you think of yourself as making eleven thousand images, or eleven thousand moments of development?
EB: When I first started wrapping my mind around the idea of NFTs, I always imagined the minting experience like a pack opening. The earliest projects and NFTs that got me into collecting were PFPs with rarity systems and similar to the chance of hitting a big holo there were rare traits that could instantly make your mint be worth 10x what you minted it for.
A regular mint from the 2021 era or even from our scene is a prepared image that is randomized to you. A layer we’ve added on mons dot shop with these packs is that the mints are wrapped in a sealed package that can be kept unopened forever. I can’t put my finger on why this is but in collecting there always seems to be these systems and hierarchies that form with keeping collectibles in pristine condition and even making sure the objects inside never see the light of day again.
I remember one time getting a pack of Yugioh cards when I was younger at a Wal-Mart and imagining the cards randomizing and shuffling like a slot machine inside the pack. I knew I would open it but I just was daydreaming on whether the one pack I picked would have something good in it. I ended up pulling an Ultimate Rare Blackwing Vayu. I had a Blackwing deck so it was a sick addition to my collection. My dad then helped me sell it on eBay for $80. I wish I didn’t sell it, lol.

BMAG: For Card NFT 2, you strip the ink off real vintage holographic Pokémon cards, objects whose whole market value rests on condition, and print new art on the bare foil. You’ve even mentioned a desire to print recreations of ultra-expensive Gold Star cards convincing enough to fool people at card conventions.
In the Philip K. Dick book The Man in the High Castle, a manufacturer of fakes holds up two identical Zippo lighters, except one was in Franklin Roosevelt’s pocket when he was assassinated (in Dick’s alternate history). One has what he calls ‘historicity’ or aura. The entire collecting world, graders, slabs, provenance, is an industry built to solve that problem. Convincing fakes prove the eye can be fooled. So what does destroying a potentially valuable card create? And what is a forgery in the hands of an artist?
EB: In Hunter x Hunter there is a scene before they are going to the auction in Yorknew City where they are at a flea market of sorts looking at vases and antiques. They discover that objects have an energy aura that can be seen around them. This signifies to them that something has lived some history and possibly has value for them to buy it at a low price and resell it.
I think it’s true that objects have this energy and aura to them. And even in art pieces/paintings the artist is focusing their attention directly on a single point so an item can become powerful in that way.
I think it’s interesting to break these false barriers of intellectual property and almost sort of organically represent or recreate an object as powerful as a Gold Star Charizard. You could even relate it to apprentices making master copies of their favorite artist’s work. These aren’t solely done with skill. It has a lot to do with your love of the artist and your intention to make yours just as beautiful as the original.

To me certain cards I own are sacred because of the memories made with them or the meaning they have to me. It’s like with an NFT I would never burn one just to destroy it. Lately I’ve been buying a lot of damaged mid-era and WOTC cards and printing collage over to breathe new life back into them. I collect old paper to print and draw on in the same way and I appreciate that they have lived a life longer than my own without being marked or drawn on at all.
I was born in 1996 the same year as Pokémon and I’ve been enamored by the artwork, games and cards my whole life. It’s not a coincidence that it’s inspired my whole career and identities in multiple ways. A very well coordinated psychic operation has taken hold of my generation’s minds! Lol

card nft 2 – 2026
BMAG: Hito Steyerl defended the poor image, the compressed copy that circulates everywhere, detached from its origin. Trading cards run the inversion. Thousands of images circulate, only one gets attention, and the bulk commons exist mostly to manufacture the aura around the single chase card. You’ve said you always try to break rarity standards. Why does it matter to you that the cheap card can be the best one?
EB: It really is just about making the best images. While I can agree with you on modern stuff being generally filler and uninteresting, going through mid-era or vintage bulk is very enjoyable to me. There are tons of unique artworks and cards that hit just as hard to me or even better than modern chase cards.
I would say most of the collectors in the Solana & adjacent scene agree with the sentiment that rarity doesn’t matter to them.
These Dratinis from Team Rocket Returns are two of my favorite cards even non holo.


BMAG: The philosopher Jean Baudrillard never saw a card show, but he described one perfectly. In a mature enough market, he argued, the sign detaches from the thing. The chase card isn’t valuable because of its imagery, it’s valuable because of the system that produces its value, and the market ends up referring only to itself. Grade, price, then maybe the picture. Can the artwork still pull the eye back through all of that?
EB: Card 2 really put this to the test with multiple layers of rarity and subversion. There are 7,000 unique 1/1s printed on original cards, almost 4,000 ones that are printed with holographic texture, and a rare subset of 111 cards that are just pixelated mosaic blocks of color and these became sought after. There are also these gold gradient cards that I am printing front and back on metal. All of this and at the same time collectors really want Dratini/Drifella-themed cards, specifically the honor thy father CruciDrifella statue is one that a lot of people are/were looking for.
I even included some precious cards that I hand painted and added embellishments onto with a trait called ‘altered’.
I feel like a lot of my collections work on this level where people gravitate towards certain imagery and genuinely just buy what they love without fussing over rarity ranks or condition of cards. In fact for myself the more damaged a card the cooler it ends up looking when printed on.

BMAG: The crucifixion sits at the center of your work: CruciDrifella, the death and resurrection cycles, imagery you’ve said you genuinely wrestle with. And the vessel you put it in is somewhat of a gambling object: packs, pulls, odds, speculation. The Bible has an opinion about mixing money with the sacred, and it resulted in a table-flipping meme. Do you feel that tension when you make these? Or is the pack where salvation and luck have always been confused for each other?
EB: I’m not really interested in debating the sins of modern society. This is some of the culture I grew up with and the ideas I want to play with at the moment. It’s funny because Pokémon themselves have this history of being demonized by Christians in the 90s for summoning monsters and having ritualistic occult battles.
I usually follow my intuition and subconscious interests when creating and it’s generally not something I think about while I work. It comes from a deep interest in theology and these symbols and archetypes are important to humanity and I don’t make light of them, but I am really not a dogmatic person. I am interested in play, working with new technology and conducting these elements together while making good images and stories.
I think it’s fun and real to have anime characters interact with serious subject matter and it’s cool for me to reproduce these Naruto or Pokémon trading cards that I enjoyed collecting when I was younger linking them with disparate assets like a Francis Bacon character or even blending & morphing them into my world with Drifellas. It’s similar to how the internet is thrown at us and how my mind and interests have intersected/mutated as I grew up looking at different art with new perspectives.

Right now reflecting on my work has been interesting and knowing that with all of these new tools you can generate an absurd amount of artwork to derive meaning from and peer into. I am looking at things as they come to me and asking myself why am I compelled to make certain images and if it’s genuinely important to me.
It leads me to contradictions like why I am drawn to adapt this imagery & tell this story of a demon dragon character. What does it speak of Dratini & the serpent in the Garden of Eden and how it ties to certain Gnostic Christian ideas? Drifella is this beast who’s been bastardized, bred and trapped in the lower dimensions as a jester entity but he is still an innocent teenager attempting to invert what he was turned into, transforming himself into an emissary of light and dark for Jesus.
I don’t identify with any particular religious tradition but I revere Christ and consider his teachings the highest standard for humanity — a lot of which is needed now; rejecting materialism, teaching self love and knowledge, and being a light shining in darkness. I look forward to exploring these ideas in the future as I make more art.

Evil Biscuit’s cards appear in PoorTraits: serfs_up, the first official Bitcoin Conference card pack, in an edition of 5,000. Every pack contains one holo chase card, with 100 free GA passes and a Whale Pass hidden across the run. Packs are available for purchase online, or in-person in Hong Kong.
The BMAG Card Expo runs August 27 and 28 at the Hong Kong Convention and Exhibition Centre as part of Bitcoin Asia 2026: 40+ trading card vendor marketplace, live Pokémon TCG tournament presented by Moonroad HK with HK$19,000 prize pool, graded artist cards on view, auctions, and main stage panels with collecting luminaries David Chau and AJ Scaramucci.
Use code MEGAGA for a discount on Bitcoin Asia tickets.
Follow Evil Biscuit on X/Twitter here.
This post The Pack Is the Painting: Evil Biscuit and the Schizocollage Movement Come to Hong Kong first appeared on Bitcoin Magazine and is written by Dennis Koch.
Bitcoin Magazine

Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research
New data from Galaxy Research shows that $115 million in bitcoin has been lost in the Coldcard theft.
Writing on X Sunday, Galaxy Research said that it had spoken with over 200 victims to support them and gather intelligence on the attackers.
The figures are based on the price of bitcoin at the time of the attack.
Hackers started taking bitcoin stored using Coinkite’s popular Coldcard hardware wallet on July 31.
Canadian company Coinkite said that a firmware bug in Coldcard Mk3 devices — starting with version 4.0.1 in March 2021 — caused seed generation to fall back to a weak software Pseudorandom Number Generator instead of the hardware true random number generator, allowing hackers to essentially guess investor seedphrases.
The number has slowly risen as the criminals have targeted more recent devices while Coinkite and other Bitcoiners have urged Coldcard users to immediately move their funds.
Galaxy Research last week said that it estimates at least 15 separate attackers were exploiting the bug independently.
Previous research from Galaxy found that the typical stolen coin had sat untouched for 3.5 years, and a striking 88% of pilfered funds were at least a year old.
The firm is still confirming how much is stolen, and has said that total losses could exceed $130 million.
Since the attack, cautious investors have been moving their coins to other storage solutions — including exchanges.
Coinkite said in a statement this week that the bug in its software “silently went unnoticed” and “its potential impact grew with every release” of its products.
Days after the first hack, the company urged investors to update their software or move their funds off the popular hardware wallet.
This post Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.
Shares of Profusa ended Monday’s session at $4.53, representing a 27% gain, then rocketed an additional 77% during after-hours trading to reach $8.02. When pre-market trading commenced Tuesday, the stock had climbed 95.6%, nearly doubling from Monday’s closing price.
Profusa, Inc. Common Stock, PFSA
The catalyst behind this surge is largely structural. Profusa implemented a 1-for-4 reverse stock split that became effective at 12:01 a.m. ET on August 17, marking the company’s third such action in 2026. This came on the heels of a 1-for-25 consolidation completed July 7.
The consolidation slashed outstanding shares from 2,422,906 down to roughly 605,726. A fresh CUSIP identifier was issued, with Tuesday’s pre-market representing the first trading session where participants fully incorporated the revised share structure.
When the available float becomes this compressed, minimal trading activity can trigger substantial price fluctuations. Even limited buying interest translates into significant percentage gains, creating an environment that attracts short-term momentum-focused traders.
Separate from the split dynamics, Profusa has been constructing an M&A storyline that maintains heightened speculative attention. In early August, the firm entered into an option agreement targeting the acquisition of G3 Vision Labs, a diagnostics company already generating commercial revenue.
Additionally, a letter of intent remains outstanding for acquiring the PanOmics multi-omics diagnostics platform. While neither transaction has reached completion, the M&A developments provide traders with fundamental talking points beyond the technical aspects of share consolidation.
A delayed quarterly filing with the SEC, announced on August 14, also attracted increased scrutiny to the stock during the days preceding this price action. While delayed filings don’t automatically signal problems, they frequently draw heightened market attention.
The general market backdrop offered zero assistance for this rally. The Nasdaq dropped 1.3% while the S&P 500 declined 0.5% during the same period. This price movement was entirely company-specific in nature.
Profusa specializes in continuous biochemistry monitoring technology, including its Lumee Oxygen and Lumee Glucose monitoring systems. No industry-wide developments in digital health or biointegrated sensor technology emerged to justify the price surge.
The company issued no earnings announcement or significant revenue disclosure. The dramatic price action resulted from the convergence of an extremely limited float, reverse split mechanics, and speculative trading momentum.
PFSA concluded Monday’s regular session at $4.53 before advancing to $8.02 in after-hours activity, representing a 77% session gain before pre-market trading drove shares even higher.
The post Profusa (PFSA) Stock Soars 96% Following Third Reverse Split in 2026 appeared first on Blockonomi.
Shares of Amer Sports (NYSE: AS) advanced 6.60% before the opening bell on Tuesday following the athletic and outdoor equipment company’s announcement of second-quarter financial results that exceeded analyst projections on multiple fronts.
Amer Sports, Inc., AS
The company reported adjusted earnings per share of $0.22, representing an $0.11 outperformance versus consensus expectations. Total revenue reached $1.63 billion, meaningfully ahead of the Street’s $1.54 billion forecast.
The positive market reaction highlighted investor enthusiasm for both the earnings outperformance and management’s decision to raise forward-looking financial targets.
Top-line performance during the quarter demonstrated 32% year-over-year expansion, representing 30% growth when measured on a constant-currency basis. Importantly, the revenue acceleration was balanced across all operating segments and international markets, signaling broad-based momentum.
The Technical Apparel division delivered 32% revenue growth, highlighted by Arc’teryx achieving a 17% omni-channel comparable sales metric. Outdoor Performance emerged as the strongest performer with 37% expansion, primarily fueled by Salomon Softgoods. Meanwhile, Ball & Racquet advanced 24%, propelled by Wilson Tennis 360’s performance.
CEO James Zheng commented: “All segments, geographies, and channels achieved strong double-digit growth led by another exceptional quarter from Salomon Softgoods, a strong Arc’teryx omni-comp, and a Wilson Tennis 360 acceleration.”
The company’s adjusted operating margin registered at 12.8%, representing a year-over-year expansion of 730 basis points. Within this figure, net tariff refunds contributed approximately 390 basis points of benefit.
However, even after adjusting for the tariff-related tailwind, the core operating margin still expanded by over 300 basis points. This demonstrates that the profitability gains extend beyond temporary accounting benefits and reflect genuine operational improvements.
CFO Andrew Page noted that the strategic investments the organization has been executing are “paying off in the form of strong momentum across our three largest opportunities: Arc’teryx, Salomon Softgoods, and Wilson Tennis 360.”
Building on the second-quarter outperformance, Amer Sports increased its financial outlook for the full 2026 fiscal year. Adjusted EPS guidance now stands at $1.27 to $1.30, with the $1.29 midpoint exceeding the $1.26 analyst consensus.
The company also raised its full-year revenue growth expectation to approximately 24%. Additionally, adjusted operating margin guidance was increased to a range spanning 14.2% to 14.5%.
Looking ahead to the third quarter, management provided guidance for adjusted EPS between $0.31 and $0.33, alongside revenue growth projected at 18% to 20%.
Management continues to emphasize Arc’teryx, Salomon Softgoods, and Wilson Tennis 360 as the three strategic growth engines expected to drive performance throughout the remainder of the fiscal year.
Amer Sports closed at $32.57 on Monday, with pre-market activity on Tuesday reflecting the 6.60% gain following the quarterly earnings announcement.
The post Amer Sports (AS) Stock Surges 7% on Strong Q2 Results and Upgraded Outlook appeared first on Blockonomi.
SpaceX stock falls below its IPO price despite 92% revenue growth as Thursday’s lock-up expiry threatens to add insider supply.
For over 350 years (roughly since 1661 when the first banknotes appeared in Europe), the relationship between gold and paper money has shaped global finance.