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The White House has yet to take an official position on a compromise proposal related to the ethics provisions of the CLARITY Act that Senators Thom Tillis and Ruben Gallego put forward last week, Crypto in America host Eleanor Terrett said. The ethics issue, seen as the biggest sticking point in the CLARITY Act, had also not reached a consensus as of a possible vote this week, according to Terrett.

An anonymous whale withdrew 724,880 HYPE worth $39.67 million from Bybit and OKX, according to Onchain Lens. Exchange outflows are typically interpreted as a sign of holding intent.

Brazil-listed OranjeBTC added 30 BTC yesterday as part of its strategic Bitcoin accumulation, according to BitcoinTreasuries.net. The company now holds a total of 3,948 BTC.

BTC spot trading volumes on major exchanges including Binance have fallen to levels close to those seen near the end of the 2023 bear market, on-chain analyst Darkfost said. Darkfost said interest in Bitcoin has weakened from earlier levels. In May, BTC accounted for about 40% of Binance’s total trading volume and led activity, but the market structure has since changed, Darkfost said. Altcoin trading now makes up more than 60% of volume, while Bitcoin has shrunk to 22% and Ethereum to about 18%, according to Darkfost. Darkfost added BTC has entered a dull stretch after moving without major swings for weeks, and some investors are shifting funds into altcoins in search of higher return opportunities.

The Blockchain Association pushed back against the National Sheriffs’ Association’s claim that the CLARITY Act would weaken efforts to combat financial crime, arguing instead that the bill would strengthen law enforcement’s ability to respond, The Block reported. In a letter sent to Senate Majority Leader John Thune and Senate Minority Leader Chuck Schumer, the U.S. crypto lobbying group said the sheriffs’ association had misunderstood the bill’s regulatory framework for decentralized finance, or DeFi. This week is seen as a critical juncture for the CLARITY Act, as the Senate is set to begin its August recess on Friday and will then turn its focus to the November election schedule, leaving little time to process the bill. Lindsay Fraizer, the Blockchain Association’s chief policy officer, told The Block it was important to correct misconceptions about the legislation as a Senate vote was approaching.

South Korea’s Financial Supervisory Service has sent an inspection findings notice to Bithumb, formally beginning sanctions procedures over a large-scale erroneous Bitcoin overpayment incident, Newsis reported. The regulator plans to draft final disciplinary measures after receiving Bithumb’s explanation, then determine the level of sanctions through a prior notice process and a review by its sanctions deliberation committee. Earlier this year, Bithumb sparked major controversy after a system error led to the erroneous overpayment of 620,000 Bitcoin, far exceeding the roughly 42,000 Bitcoin it actually held.

Bitmine (BMNR) staked 28,800 ETH worth about $53.87 million through Coinbase Prime, according to Onchain Lens.

Veteran trader Peter Brandt said on X there is no technical evidence suggesting Bitcoin is ready to enter its next bull market. As a traditional chart analyst, Brandt said he sees no sign that a new bull market is imminent and added the market has not yet bottomed, with a sustained low before October this year unlikely.

Crypto analyst Benjamin Cowen said cryptocurrency prices have never been this cheap since 2010, but the market has not yet bottomed, according to BeInCrypto. Cowen said crypto was trading 62% below fair value and expected one more downturn in the third quarter amid seasonal factors and rising bond yields. Cowen added the next bear market would emerge within two to three weeks, and a cycle bottom would likely form around November before a new bull market begins.

The three major U.S. stock indices closed higher today. - S&P 500: +1.29% - Nasdaq: +1.99% - Dow Jones: +0.92%

Crypto prime brokerage firm FalconX has laid off about 10% of its global workforce, Bloomberg reported. Before the cuts were announced, the company was said to employ about 350 people across the U.S., the UK, Singapore and Hong Kong.

Italy’s largest banking group, Intesa Sanpaolo, cut the underlying size of its call options position tied to BlackRock’s Bitcoin ETF IBIT by 99% while more than tripling its holdings of BlackRock’s Ethereum staking ETF, CryptoSlate reported. Intesa Sanpaolo’s holdings of IBIT common shares fell 93.7% to 40,723 shares from 646,809 shares, according to the report. At the same time, a new 500,000-share IBIT put options position was disclosed. Holdings of BlackRock’s Ethereum staking ETF rose to 349,600 shares from 116,200 shares, while holdings of Bitwise’s Solana staking ETF fell to seven shares from 2,817 shares. The 13F filing was submitted on July 31, local time, and reflects holdings as of June 30, compared with a filing submitted on May 15 that reflected positions as of March 31. The filing shows holdings at quarter-end and does not indicate when the actual trades were made, according to the report.

Tyler Williams, a policy adviser on digital assets and blockchain technology at the U.S. Treasury Department, has resigned, Punchbowl reported. Punchbowl said Williams left the Treasury Department to return to the private sector, while the official reason for the resignation was not disclosed.

According to CoinNess market monitoring, BTC has risen above $64,000. BTC is trading at $64,008.81 on the Binance USDT market.

Kalshi CEO Tarek Mansour argued New York state’s lawsuit against the prediction market platform is unjustified and targets the broader event-contract industry rather than sports betting, CNBC reported. In an interview with CNBC, Mansour said, "the lawsuit is not about sports. It is targeting all prediction markets and their business model." He added that the complaint could be copied and filed against Nasdaq as well, arguing Kalshi operates in a similar way to the exchange. Mansour also likened Kalshi’s regulatory and legal challenges to past conflicts involving Uber and Airbnb, noting the platform is formally registered with the Commodity Futures Trading Commission as a designated contract market, or DCM, but is still facing regulation from multiple state governments. He said the key issue is the prediction market industry itself, describing it as an innovative sector that disrupts the existing order, is growing rapidly, and is seeing strong consumer adoption. Mansour added that established industries have repeatedly responded in the same way, citing the taxi industry’s clash with Uber and the hotel industry’s clash with Airbnb. He said the strategy is simple: file lawsuits first, then try to change the law, and only compete and innovate after realizing consumer demand does not disappear.

Franklin Templeton has joined the Canton Network, a privacy-focused layer-1 blockchain, as a super validator, The Block reported. The global asset manager expanded its Benji Technology Platform to the Canton Network in November last year as part of its tokenization strategy.

Morgan Stanley downgraded Circle stock to underweight and cut its price target to $38 from $106, citing slower USDC growth and competition from tokenized money market funds, Yahoo Finance reported. Circle shares fell about 6% after the announcement and were recently trading at $60.88, down 2.76%.

POAP, the proof-of-attendance protocol, will shut down its service, The Block reported. The project said in March it had halted new services and would maintain only its existing system.

An FBI agent was arrested on July 31 on charges of stealing about $1 million worth of cryptocurrency, The Block reported, citing court documents. Patrick Yaroch, an FBI agent, told a Justice Department employee he had made "a very bad decision regarding a cryptocurrency wallet," according to the report.

CNBC Mad Money host Jim Cramer said during a live broadcast that he plans to sell all of his Bitcoin holdings, Crypto Briefing reported. He emphasized, "양자 컴퓨팅이 3년 안에 비트코인 시장을 잠식할 것으로 예상한다. 모두가 이에 대해 경각심을 가져야 한다." However, the size of Cramer’s Bitcoin holdings, whether he currently holds any BTC, and any wallet addresses have not been disclosed.

Michael Saylor, founder of Strategy, said he has never sold any of his personally held Bitcoin. He said Strategy is a public company, not his personal wallet, and has disclosed since 2020 that it may buy or sell BTC as part of its capital management. Saylor added that the company’s firm conviction in Bitcoin remains unchanged. Strategy said yesterday that it sold 1,637 BTC.

Coinbase has unveiled a new ad campaign urging U.S. lawmakers to pass the CLARITY Act, Cointelegraph reported. The bill was not included in the U.S. Senate’s voting schedule released on Aug. 3, according to the report, and Senate leadership is now seen as less likely to bring the measure to the floor ahead of a recess set to begin on Aug. 10.

Matt Prusak, president of Nasdaq-listed Bitcoin miner American Bitcoin (ABTC), is moving to AI infrastructure company Giga Energy, CoinDesk reported. American Bitcoin was co-founded with the participation of Eric Trump, the eldest son of President Donald Trump, and is backed by mining company Hut 8.

Solana has raised its maximum compute capacity per block by 66.7% to boost parallel processing, but bottlenecks tied to hot accounts remain unresolved, underscoring an ongoing structural limitation, CryptoSlate reported. Solana activated SIMD-0286 on July 29, increasing the per-block cap for Compute Units, or CU, to 100 million from 60 million. While overall block capacity has expanded, criticism remains that the change does not address congestion involving hot accounts, where write operations target the same state, such as in popular memecoin trading or large-scale DEX swaps. The report also noted a potential design tradeoff, with larger block capacity possibly slowing validators' block propagation and replay speeds.

BeInCrypto reported that warnings of a further Bitcoin decline are growing after an analysis found that the cryptocurrency’s major sell-off waves in 2026 have coincided exactly with points when Japanese authorities moved to defend the yen. Analysts remain divided between a bearish view that stronger yen moves and the unwinding of yen carry trades could push Bitcoin down to the $50,000 level and a counterargument that a weaker dollar could support liquidity flowing into risk assets. The U.S. and Japan have both officially acknowledged intervening in markets to stem yen weakness and said they would carry out additional joint intervention if needed.