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A U.S. federal court has granted a preliminary injunction sought by prediction market platforms including Polymarket and Kalshi, suspending enforcement of Minnesota’s ban on prediction markets, Unfolded reported. The court said betting activity treated as prediction markets and swaps falls under the jurisdiction of the Commodity Futures Trading Commission (CFTC).

BlackRock has sent a letter backing the CLARITY Act to U.S. political news outlet Politico, according to Politico. In the letter to Politico Morning Money, BlackRock Chief Investment Officer Samara Cohen said the CLARITY Act could be an important step toward establishing a regulatory framework for cryptocurrencies. Fidelity, Charles Schwab and Franklin Templeton, along with Goldman Sachs CEO, had previously also expressed support for the bill. The CLARITY Act is expected to face a vote in the full U.S. Senate in August. While Republicans, who are pushing the bill, hold a 53-47 majority, it needs 60 votes to pass, meaning Democratic support is required.

Major exchanges have seen $223 million worth of futures liquidated in the past hour. In the past 24 hours, $610 million worth of futures have been liquidated.

A bipartisan bill has been introduced in Pennsylvania to bar sports betting companies from acting as liquidity providers or market makers in prediction markets, Bitcoin.com reported. HB2711, introduced by Pennsylvania state Rep. Tarik Khan, would prohibit companies engaged in gambling operations and their affiliates from providing liquidity to prediction platforms or sharing in related profits. The bill also includes consumer protection measures such as a ban on insider trading and age restrictions for users, and it is expected to help establish a regulatory framework for prediction markets in the state alongside HB2497, a separate bill centered on licensing and a 22% tax.

Major exchanges have seen $116 million worth of futures liquidated in the past hour. In the past 24 hours, $505 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $64,000. BTC is trading at $63,998.01 on the Binance USDT market.

Global asset manager Franklin Templeton said in an official post on X it supports passage of the CLARITY Act. Franklin Templeton added, "CLARITY will clarify how cryptocurrencies are regulated. Investors will know what protections apply, and companies will know which regulators oversee cryptocurrencies. It is now time to provide the clarity the crypto industry needs."

Apple users filed a lawsuit in a California district court, alleging Apple failed to effectively block fraudulent crypto apps on the App Store. According to TechCrunch, the plaintiffs claimed gaps in Apple’s app review and security screening systems led them to download a fake cryptocurrency wallet app and suffer combined losses of about $1.8 million. The app allegedly impersonated Sparrow Wallet, while the real Sparrow Wallet is known not to offer an iOS app. Apple said impersonation apps violate its policies and are removed as soon as they are discovered, adding that the fake app in question is no longer available.

The three major U.S. stock indices closed mixed today. - S&P 500: +0.02% - Nasdaq: -0.18% - Dow Jones: +0.51%

The tokenized asset market has grown to $7.5 billion, up more than threefold over the past year, according to CryptoRank data.

New York Attorney General Letitia James urged Congress to strengthen the Clarity Act, saying the bill could weaken state governments’ authority to crack down on financial crime and other illegal activity, The Block reported. James stressed the need for stronger safeguards, including tighter rules for cryptocurrencies that pass through money-laundering mixers and stricter standards for elected officials.

Securitize Capital, a subsidiary of tokenization platform Securitize, has registered as a registered investment adviser with the U.S. SEC, Cointelegraph reported. The move allows Securitize to provide investment advisory services to asset managers and institutional investors, expanding its business within the regulatory fold. Securitize said this gives it an integrated regulated platform spanning tokenized securities issuance and management, brokerage, trading infrastructure and investment advisory services.

Crypto perpetual futures, a flagship derivatives product in the digital-asset market, have entered the regulated U.S. market, drawing rising interest on Wall Street, though major banks are still staying on the sidelines until market liquidity and the regulatory environment are more fully developed, CoinDesk reported. CoinDesk said the U.S. Commodity Futures Trading Commission approved Kalshi’s regulated perpetual futures product in May, while Coinbase also won approval to list regulated perpetual futures in the United States. Kalshi topped $1 billion in trading volume within a week of launching the product in June and has since moved to broaden its lineup by seeking approval for perpetual futures tied to gold and silver. Even so, Wall Street remains cautious about making a full-scale entry into the market. Industry participants said improvements in the U.S. regulatory environment are drawing the offshore-dominated perpetual futures market into the United States, but most large financial institutions are still in a wait-and-see phase rather than preparing product launches. They added major banks also have to consider strict capital rules, customer-protection obligations and reputational risk, making it difficult for them to participate aggressively before trading volume is sufficient, the regulatory framework is clear and market infrastructure is stable.

BlackRock transferred 3,310 BTC ($215.93 million) and 28,370 ETH ($55.68 million) to Coinbase Prime, for a total of about $271 million, according to Onchain Lens. Onchain Lens added its analysis pointed to the transfers as likely being intended for a sale.

Spot CVD is an order-book analysis chart for the BTC/USDT spot trading pair. The upper section shows the Volume Heatmap, while the lower section shows cumulative volume delta, or CVD. - The volume heatmap tracks trading volume at each price level. The background color becomes brighter when the price remains in a specific range for an extended period or makes a large move. Brighter areas may act as support or resistance. - The cumulative volume delta indicator shows buy and sell orders by order size. As buy orders increase, the line in the corresponding color rises. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

Payward, the parent company of cryptocurrency exchange Kraken, is acquiring Magic Labs’ Wallet-as-a-Service business, Cointelegraph reported. The deal value was not disclosed. The companies said they expect to complete the transaction within weeks, subject to customary procedures. Through the acquisition, Payward plans to integrate Magic Labs’ non-custodial wallet technology into Payward Services, its business platform. The platform provides enterprise services including cryptocurrency trading, custody, tokenized assets and fiat on- and off-ramps.

Crypto trading platform Uphold announced it cut 17% of its workforce. The restructuring was part of a strategy to focus more on enterprise services as a recent market downturn has weighed on retail crypto trading activity, CoinDesk reported. The layoffs affected 85 full-time and contract workers.

Sports merchandise retailer Fanatics has agreed to acquire a BGC unit exchange and clearinghouse to expand its prediction market business, according to CoinDesk. The company plans to buy Water Street Labs and CX Clearinghouse from BGC Group, though financial terms were not disclosed. The deal will give Fanatics a federally regulated exchange and clearinghouse, securing its own prediction market infrastructure.

Binance Research said Gen Z accounted for 47% of new users of Binance’s traditional finance service this year. Those users have recorded a total of $80 billion in trading on Binance TradFi since the start of the year, according to the research.

President Donald Trump said the U.S. should have the lowest interest rates in the world in comments related to the Federal Reserve.

Ondo Finance (ONDO) has unveiled Ondo Network, a new execution network that combines trading speeds comparable to centralized exchanges, self-custody trading and onchain payments, The Block reported. Ondo Finance said existing blockchains process trade execution, validation and settlement on a single ledger, which offers strong trust and resilience but comes with slower trading speeds and broader information disclosure. The company added Ondo Network was designed to separate trade execution from the validation and settlement process while allowing users to retain control of their assets.

MoonPay has partnered with Templo to support Templo’s fiat-to-stablecoin payments, Cointelegraph reported.

U.S. Senate Republicans plan to pursue a procedural move this week to place the CLARITY Act, a U.S. crypto market structure bill, on the formal Senate agenda, Crypto in America reported. Republicans are aiming to pass the bill before Congress begins its recess on Aug. 7, according to the outlet, and plan to hold a procedural vote first to open formal debate on the measure. The step requires support from 60 senators, making Democratic cooperation the key variable. Crypto in America said seven Democratic senators had previously argued the latest version of the CLARITY Act still fell short on ethics rules, anti-money laundering measures and conflict-of-interest provisions. Republicans are continuing negotiations to revise those sections in an effort to secure Democratic backing, the outlet added. Internal Republican factors also remain in play. While Republicans hold a narrow Senate majority, Senator Mitch McConnell is expected to be absent, and the future positions of Senators Josh Hawley and Rand Paul, who previously opposed the GENIUS Act, are also being cited as major variables, according to the report.

Forbes said blockchain technology is not eliminating traditional financial institutions but creating new digital financial institutions instead. The media outlet said stablecoins are shifting from crypto tools to financial infrastructure, while the market for real-world asset tokenization is expanding rapidly as it is being led by major traditional financial firms rather than decentralized communities. It added that institutional investors are becoming increasingly reliant on intermediaries as they enter the cryptocurrency market. Forbes said the shift can be understood not as a failure of the crypto industry, but as a historical pattern in fintech development. Technology typically does not eliminate intermediaries altogether, Forbes said, but changes their role. It added the key question for the blockchain industry is not whether intermediaries can be removed, but whether newly emerging digital financial intermediaries can serve a role that is more transparent, efficient and verifiable than the existing system.

The crypto market is continuing to trade in a range as liquidity on major exchanges has declined and aggressive selling pressure has eased, according to a Glassnode report. Glassnode said caution also persisted in derivatives markets. In the perpetual futures market, buying activity and speculative demand slowed, and while total open interest rose slightly, funding rates for long positions fell sharply. By contrast, options open interest increased and volatility premiums widened, suggesting investors are preparing for the possibility of greater volatility ahead. Institutional demand also weakened somewhat, Glassnode said. While Bitcoin continues to draw firm support from long-term holders, the market is in a transitional phase marked by caution across spot, derivatives and institutional investment, according to the report.