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Coinbase CEO Brian Armstrong said on X the Senate did not take up the CLARITY bill this week, calling the outcome disappointing while expressing gratitude and backing Senate Majority Leader John Thune’s pledge to bring the bill forward in September. Armstrong added that interest in the technology continues to grow regardless of the congressional calendar, Congress has an important role to play, and voters are closely watching who helps and who blocks the bill’s passage. He said the effort is closer than ever to its goal and urged lawmakers to finish the bill in September.

Open-source crypto payment processor BTCPay Server warned an active exploit targeting a discovered vulnerability is under way and could lead to fund losses. In a post on its official X account, BTCPay Server urged users to update immediately to server version v2.4.2 and said operators that cannot update should shut down their servers to prevent hacking.

Galaxy Research said an estimated 1,719 BTC has been stolen so far in the Coldcard incident, with losses likely exceeding $130 million. More than 250 cases have been reported so far, and Galaxy Research added the total could expand to more than 2,300 BTC if all cases are ultimately confirmed.

Blockaid CEO Ido Ben-Natan said the Coldcard vulnerability incident exposed a structural weakness in crypto’s reliance on private keys, The Block reported. Ben-Natan said systems built around private keys can ultimately create a single point of failure. He added that the Coldcard case was particularly shocking because the wallet was designed to keep private keys offline and separated from the internet, yet hackers exploited a flaw in which Coldcard devices did not generate sufficient randomness during wallet seed creation. Ben-Natan said simply storing assets somewhere and forgetting about them is not a real solution, as the security landscape changes very quickly. He stressed that users must either remain continuously vigilant or delegate security decisions to specialized institutions.

Bitcoin wallet activity surged without a corresponding rise in inflows to major exchanges following the Coldcard hack, according to UBC Blockchain, citing Santiment data. As of July 31, local time, Bitcoin active addresses stood at 978,000, about 1.6 times the July average. From Aug. 1 to 6, daily average active addresses were around 720,000, above July’s roughly 610,000. By contrast, average daily inflows to exchanges from Aug. 1 to 6 were about $1.55 billion, below July’s average of about $1.67 billion. UBC Blockchain said, "콜드카드 해킹으로 인해 주요 거래소로의 자금 유입 없이 비트코인 월렛 활동이 급증했다."

Michael Saylor says next unicorn in finance could be digital credit Strategy co-founder Michael Saylor said on X, "If you’re looking for the next billion-dollar unicorn business in finance, I would study digital credit."

Former U.S. SEC counsel Justin Slaughter, Paradigm’s vice president of regulatory affairs, said the CLARITY Act still has a chance of becoming law, even though the delay has significantly reduced its odds. In a post on X, Slaughter said it should not be completely ruled out, adding there is still a short Senate window in the third week of September, during the height of the campaign season, and the bill needs to be handled during that period. Slaughter also said the industry must keep working to win support from policymakers and elite media, adding Washington policy remains heavily influenced by the press and many conservative opinion leaders still view crypto with skepticism.

A CoinNess analysis shows the Bitcoin options market is improving gradually, albeit cautiously, according to Glassnode. Glassnode said volatility is being repriced and concerns over short-term options are easing. Call options still account for most open interest, or OI, while recent premium flows are turning increasingly positive.

An Ethereum Foundation proposal to cap staking rewards at 0% if half of Ethereum’s supply is staked is drawing strong backlash from the Ethereum community. Ether.fi founder Mike Silagadze said the proposal would be harmful to decentralization, adoption, and the network’s reputation. Steve Berryman, head of Ethereum at Bitwise, warned "institutional investors need policy certainty. Adjusting the issuance mechanism could create additional uncertainty." Stani Kulechov, founder of Aave, said lower Ethereum staking could affect the DeFi ecosystem, as a large amount of staking derivatives has become a core element of lending and yield strategies.

XRP whales holding 10 million to 100 million tokens bought $1.3B worth despite a 43% price drop Wallets holding 10 million to 100 million XRP increased their combined holdings by 1.23 billion XRP this year even as XRP fell 43%, The Crypto Basic reported, citing Santiment data. Their holdings rose from 10.97 billion XRP at the start of the year to 12.2 billion XRP, with the added tokens worth about $1.28 billion at the current price of $1.04. Over the same period, the number of wallets in that cohort increased from 301 to 313. By contrast, whales holding 100 million to 1 billion XRP were net sellers of 300 million XRP, while wallets holding 1 million to 10 million XRP were net buyers of 260 million XRP.

U.S. payrolls fell by 23,000 in July, driving the probability of a September Fed rate hike down to 40% from 70%, but weakening labor conditions could cap Bitcoin’s gains, according to an analysis by on-chain analytics firm Hupzy, formerly Spot On Chain. Citing data from The Kobeissi Letter, Hupzy said July payrolls missed market expectations for an 85,000 increase by 108,000 and marked the third-largest monthly employment decline since the 2020 COVID shock. June figures were also revised down by 37,000 from the previous reading. Hupzy added that while lower odds of a rate hike are positive for risk assets, the economic slowdown behind the shift is also a risk-off factor, and the market now needs to watch whether the decline in employment continues next month.

U.S. Republican Sen. Cynthia Lummis, a leading pro-crypto lawmaker, said the Senate’s decision to delay a vote on the CLARITY Act, a crypto market structure bill, until September could prove fatal, warning that "a thousand cuts is just as deadly as one bullet." The Senate had earlier decided to postpone the vote until September.

Technical indicators on Bitcoin’s monthly chart suggest the market may have formed a macro bottom, according to crypto media outlet Odaily. Odaily’s analysis said a TD Sequential buy signal appeared on BTC’s monthly chart last month, the same signal seen at the bottom of the 2022 bear market. The analysis added that BTC is currently trading near its 50-month simple moving average, which has served as a strong support line since 2014, while the Chande Momentum Oscillator has fallen to -71, pointing to deeply oversold conditions. In the short term, BTC may continue to trade sideways in a $60,000-$67,000 range, it said. Still, the combination of indicators suggests a long-term bottom may have formed, with a breakout from that range likely to determine whether a new uptrend emerges. Odaily described TD Sequential as a technical indicator used on stock and digital-asset charts to predict trend reversal points, including bottoms and tops.

The three major U.S. stock indices opened higher today. - S&P 500: +0.33% - Nasdaq: +0.79% - Dow Jones: +0.11%

Firmus, which previously operated as a Bitcoin mining company before pivoting to AI infrastructure, has raised $2 billion in equity funding at a post-money valuation of more than $10.5 billion, Reuters reported. Existing investors Nvidia and Coatue Management participated again in the round, while a Blackstone-managed fund and Jane Street joined as new investors. The proceeds will be used to accelerate construction of Firmus' AI factories in Australia and support further expansion across Asia.

Nasdaq-listed Bitcoin miner MARA Holdings sold 726 BTC, according to BitcoinTreasuries.net. The sale reduced MARA Holdings' Bitcoin holdings to 35,577 BTC, ranking the company fourth among global publicly listed companies by BTC holdings.

Grayscale said in an 8-K filing with the U.S. SEC it amended the trust agreement for its Ethereum Staking Mini ETF, ETH, to convert staking rewards into cash and distribute them to investors on a recurring basis. The amended agreement took effect on Aug. 6, according to the filing. Under the revised terms, the ETF must convert staking rewards into cash at least once a quarter and distribute the proceeds to investors after deducting related costs, including staking fees. Grayscale currently plans to make the payments monthly, while ensuring at least one distribution per quarter in all cases. The actual payout amount will depend on the size of staking rewards received during the period.

SharpLink CEO Joseph Chalom, BlackRock’s former head of digital asset strategy, strongly opposed Ethereum’s proposed EIP-8363, arguing it would seriously damage the broader Ethereum ecosystem if implemented. Chalom cited four reasons for his opposition: - A reduction in staking yields, which serve as a benchmark rate, would raise on-chain borrowing costs and reduce the collateral value of $35 billion in liquid staking tokens. - ETH would lose the yield advantage that differentiates it from Bitcoin, potentially curbing institutional inflows. - Rewards that should go to developers and node operators would instead be burned, disrupting the ecosystem’s capital cycle. - Changing tokenomics at a critical moment when major institutions including BlackRock are adopting Ethereum would be extremely risky. EIP-8363, under discussion in the Ethereum community as "Decreasing Issuance Burn," calls for a gradual cut in validators’ staking yields, currently around 2.75%, with returns falling to zero if staked deposits reach 50% of total supply.

Bitwise CIO Matt Hougan said on social media that if the Clarity bill does not pass this week, the setback could instead lay the groundwork for a fall rally. Hougan said the best-case scenario if the bill fails this week would be for the probability of passage on Polymarket to fall clearly into at least the 10% range, fully removing market uncertainty. He added that the market could see a brief bout of volatility, but the outcome would ultimately set the stage for a rally in the fall.

Russia’s Federal Security Service, or FSB, raided nine unregistered cryptocurrency exchanges in Moscow and arrested more than 20 employees over allegations they were involved in laundering funds for a Ukraine-based voice phishing ring, Cointelegraph reported. The FSB believes the exchanges converted money taken from Russian voice phishing victims into cryptocurrency and sent it to accounts on the Ukrainian side. Authorities said couriers aged 18 to 25 collected cash from victims and delivered it to the exchanges, where it was converted into crypto. Russia’s Interior Ministry has opened a criminal investigation on large-scale fraud charges, while the FSB said it is continuing to investigate the identities of victims and the possibility of recovering losses.

Crypto perpetual futures volumes on CEXs and DEXs fall sharply in July Centralized exchanges’ crypto perpetual futures volume fell to $4 trillion in July, the lowest since December 2023, while decentralized exchange perpetual futures volume dropped to $531 billion, the lowest since June 2025, according to Cointelegraph. Futures volume briefly recovered between April and June this year, but turned lower again across major exchanges in July. As the futures market cooled, spot trading also weakened. According to Coinglass data, global average daily spot crypto trading volume fell 23.6% between July 1 and July 31, to $13.6 billion from $17.8 billion. DeFiLlama data shows July DEX perpetual futures volume was down about 21% from June’s $676 billion.

U.S. nonfarm payrolls fell by 23,000 in July, far below the market forecast for an 85,000 increase, the Bureau of Labor Statistics announced. The unemployment rate came in at 4.1%, below expectations of 4.2%. The nonfarm payrolls report, released by the U.S. Labor Department, is an official gauge that tracks employment changes across the private and government sectors. Nonfarm payrolls and the unemployment rate are among the key labor indicators the Federal Reserve uses when making interest-rate decisions. Strong employment data, including higher job growth and lower unemployment, can weaken expectations for Fed rate cuts, while softer data can strengthen them.

Aster has listed perpetual futures for Infinity Ground (AIN), an AI platform that lets users build and monetize onchain apps with natural language prompts and no coding, and is holding a $20,000 ASTER reward pool event to mark the launch. The event runs from 11:00 a.m. UTC today through 2:00 p.m. UTC on Aug. 12. Users who trade the AINUSDT perpetual futures pair during the period will receive rewards based on their share of total trading volume. Both new and existing users can participate, excluding market makers, with individual rewards capped at 3% of the total pool.

Hyperliquid Policy Center urged the U.S. CFTC to support access for U.S. investors to on-chain perpetual futures markets, Cointelegraph reported. In comments submitted on Aug. 7, the Hyperliquid policy center argued new derivatives products should be introduced in line with actual trading demand and market principles. It also backed the CFTC’s phased approach to introducing perpetual futures and said public blockchains can help modernize the U.S. derivatives market.

Options traders are increasingly positioning for a near-term BTC pullback even as U.S. spot Bitcoin ETFs drew $754 million in net inflows in the first week of August, CoinDesk reported. Over the past 24 hours, 53.8% of BTC options trading volume was in put options, or bearish bets, and most of the most actively traded contracts were puts with strike prices of $62,000 to $63,000. At the same time, 60.7% of total open interest remained in call options, or bullish bets, suggesting longer-term upside expectations still dominate while hedging against short-term downside risk has increased ahead of the July U.S. employment report. Luke Deans, senior research analyst at Bitwise, said the market appears to expect limited volatility for now, but thin trading means even a small increase in buying or selling could move BTC more sharply than expected. Deans added that a lack of price movement does not mean the market is risk-free.