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Robinhood (HOOD) CEO Vladimir Tenev reaffirmed his X account was hacked last week. Tenev said the hacker used social engineering to deceive X’s customer support team and gain access to the account, then posted fake content related to various memecoins. Tenev added X’s security team later worked with him to remove the posts, after which he regained access to the account. His X account had shown signs of compromise on July 24, including posts promoting a memecoin on the Robinhood Chain, and price swings followed in related tokens.

Crypto-related U.S. stocks are trading lower. Circle (CRCL) is down 1.98%, MARA (MARA) 4.59%, Coinbase (COIN) 1.04%, Bitmine (BMNR) 0.98%, Strategy (MSTR) 1.33%, and Riot Platforms (RIOT) 4.65%.

Strategy founder Michael Saylor said on X that Bitcoin’s biggest challenge lies inside the network rather than outside it. Saylor said BTC’s consensus rules are akin to a constitution and that changing those rules for a specific group would infringe on the economic rights of all market participants. He added that proposals including BIP-110 would undermine protocol neutrality, worsen the fee market, and weaken the network’s long-term security. Saylor also warned that if one faction modifies the rules, other groups could follow, triggering governance conflicts. BIP-110 was recently proposed to keep BTC focused on payments and transfers. The proposal calls for temporarily restricting some data within transactions. Saylor and Adam Back oppose the idea, saying limiting transactions that legitimately pay fees violates Bitcoin’s core value.

Fidelity Digital Assets said in a report that Bitcoin, Ethereum and Solana have historically low NUPL, or net unrealized profit/loss, levels, with multiple on-chain indicators nearing a capitulation zone. According to the report, as of the end of the second quarter, Ethereum was trading around 30% below its average purchase price, with unrealized losses of about $87 billion. Solana was trading around 41% below its average purchase price, with unrealized losses of about $29 billion. Bitcoin alone remained in unrealized profit, trading around 10% above its average purchase price, with unrealized gains of about $108 billion. Fidelity added that current valuations may offer an attractive entry point for long-term investors.

Nasdaq-listed Bitcoin treasury company Hyperscale Data (GPUS) announced it bought an additional 77 BTC between July 20 and 27, bringing its total holdings to 1,106 BTC.

Iran’s state-run IRIB said Iran did not attempt to open talks with the U.S. on July 16 and 17.

Ethereum founder Vitalik Buterin has unveiled Diamond iO, a cryptographic obfuscation technology that can execute computations while concealing a program’s internal logic and core data. He emphasized "Diamond iO" can be broadly applied to privacy coins, blockchains and AI. The technology remains in the early research stage.

Bitcoin has recently rebounded, but the move could be a bull trap, Decrypt said. Global markets have seen broad risk-off sentiment, with the Kospi falling more than 8% shortly after the open, and the crypto market has declined in tandem, according to the outlet. Ahead of the FOMC meeting, concerns remain over hawkish moves by incoming Fed Chair Kevin Warsh, along with ongoing deleveraging. From a technical standpoint, BTC’s 50-day and 200-day moving averages have formed a death cross, while a declining relative strength index suggests additional downside pressure. On prediction market Myriad, 65.7% of traders betting on BTC expect it to reach $55,000 before $84,000, Decrypt reported.

Justin Ryan Schmidt, founder of crypto hedge fund Translunar, was sentenced to 37 months in prison after giving up U.S. citizenship and moving overseas while concealing millions of dollars in income and assets, Bloomberg reported. Investigators found Schmidt told tax authorities from 2020 to 2022 that his income was under $5,000, but he had actually earned more than $7 million. Schmidt also claimed to have no net worth and only $1.1 million in liabilities, but authorities confirmed his actual net worth exceeded $5.8 million. A U.S. court also ordered Schmidt to pay about $3.4 million in restitution.

Bitwise Chief Investment Officer Matt Hougan said U.S. benchmark rate decisions are likely to have less influence on Bitcoin over the next five years than they did in the past. In a post on X, Hougan said U.S. interest rates have swung sharply since BTC launched, but the size of adjustments has become more gradual. CME expects rate moves to be limited to around 50 basis points over the next year, he said. Under new Fed Chair Kevin Warsh, the Federal Reserve is likely to make only fine-tuned rate adjustments, Hougan added. As rate volatility declines, its impact on BTC is also likely to fade, though the benchmark rate will remain an important variable and other factors are likely to carry greater weight.

Bitmine (BMNR) Chairman Tom Lee said in an interview with CNBC that the cryptocurrency market has already bottomed. Lee said crypto prices have recently risen despite negative factors such as the Federal Reserve’s hawkish rate outlook and high oil prices. Lee added ETH/BTC has been climbing, with ETH outperforming BTC. Lee also said recent exchange closures and a rise in forced liquidations are phenomena commonly seen at cycle bottoms. Since the start of July, ETH has risen 23%, while the semiconductor index SOXX has fallen more than 20%, Lee said. Lee added AI-related stocks remain strong, but the crypto market is showing strength separately from that trend.

Shares of U.S. mining company Ionic Digital (IOND) rose 8% on their first day of trading on Nasdaq. IOND was recently trading at $53.26, up 7.09%.

Mo Jalil, co-founder of EthSystems, which spun out of the Ethereum Foundation earlier this month, said in an interview with CoinDesk that privacy is the biggest hurdle to banks participating in public blockchains. EthSystems focuses on building privacy infrastructure for banks and other financial institutions. Jalil said nearly all financial institutions require some level of confidentiality. He explained this does not simply mean guaranteeing anonymity or hiding information, but rather having control over who can see what information, when, and how. Jalil added EthSystems is not trying to compete with existing privacy projects and plans to collaborate by leveraging the current privacy ecosystem rather than rebuilding privacy systems from scratch.

Base, Coinbase’s layer-2 network, announced on its official X account the launch of Base Verify Onchain, an on-chain identity feature aimed at addressing Sybil attacks involving multiple accounts across the blockchain ecosystem. The feature is currently deployed on the Base Sepolia testnet. Base said social and Coinbase account verification can identify real users without exposing personal information, helping prevent the use of multiple accounts.

According to CoinNess market monitoring, BTC has risen above $64,000. BTC is trading at $64,007.41 on the Binance USDT market.

Galaxy Digital (GLXY) has bought a 500-acre site in McGregor, Texas, for its second AI and high-performance computing data center campus, The Block reported. The project will start with 74 megawatts of capacity, and the company plans to keep expanding it through 2030. Galaxy Digital has recently been accelerating a business shift toward AI infrastructure, in line with other mining companies.

A Senate vote on the CLARITY Act is unlikely to take place this week, as lawmakers are expected to prioritize a Russia-Iran sanctions bill, according to Crypto In America host Eleanor Terrett, who shared John Thune's remarks on X. Thune, the U.S. Senate majority leader, said Senate rules require filing cloture on the motion to proceed to secure a vote on July 29, but legislative staff expect the Russia-Iran sanctions bill to be taken up first. As a result, the crypto industry also expects the vote to happen next week rather than this week. Thune added it is essential for Senate leadership to complete at least the cloture process before the August recess. CoinDesk had earlier offered a similar outlook, saying the Senate's practice of handling only one contentious bill at a time makes it difficult to take up the CLARITY Act until other agenda items are cleared.

Open interest in TradFi-based perpetual futures traded on cryptocurrency exchanges has more than doubled since May to reach $2 billion, according to CryptoQuant data. Binance has held onto the top spot with about 35% of total open interest in the TradFi perpetual futures market, in addition to its crypto business. The growth suggests crypto exchanges are becoming core platforms for 24-hour, onchain trading not only in digital assets such as Bitcoin and Ethereum, but also in traditional financial assets.

PayPal (PYPL) said it posted an $81 million loss in its cryptocurrency segment in the second quarter, following a $74 million loss in the first quarter and extending losses through the first half of the year, according to U.Today. In its quarterly earnings report, PayPal said the crypto segment is separated from operating expenses and does not affect core operating costs. Despite the net loss in crypto, payment-related revenue from Venmo and the PYUSD stablecoin increased, helping total revenue reach $8.68 billion, above estimates, while net income came to $1.104 billion.

An address estimated to be tied to Bitwise’s Hyperliquid spot ETF, BHYP, deposited 39,310 HYPE worth $2.13 million to Coinbase an hour ago, Onchain Lens reported. Exchange deposits are typically interpreted as being intended for sales. The address has deposited a total of 286,900 HYPE worth $17.35 million to Coinbase over the past few weeks and currently holds 354,040 HYPE worth $19.25 million.

Two newly created wallets withdrew ETH from exchanges today, according to crypto on-chain analyst The Data Nerd. A wallet beginning with 0xfC2c withdrew 10,000 ETH ($18.81 million) from Bybit, while a wallet beginning with 0x49D9 withdrew 2,101 ETH ($3.95 million) from Binance. Exchange withdrawals are typically interpreted as moves into holding wallets.

Stargate (STG), the multichain bridge of LayerZero (ZRO), is adding support for NEAR Intents, NEAR Protocol’s cross-chain transaction system, according to NEAR Protocol’s official X account.

A revised Maine law extending the presumed dormancy period for unclaimed cryptocurrency to five years is set to take effect on July 29, but the state treasury’s guidance still lists the period as three years, raising the prospect of confusion, CryptoSlate reported. Unclaimed cryptocurrency refers to crypto assets left dormant after individuals or institutions forgot they held them. According to the report, Maine’s amended unclaimed property law specified implementation dates for changes involving other asset classes but omitted the timeline for cryptocurrency. If the presumed dormancy period expires, the assets are transferred to the state government.

Coinbase reiterated its call for broader access to Federal Reserve payment accounts, interest payments on balances and supervision aligned with actual risk, Cointelegraph reported via its official X account. The stance follows the Fed’s release in December of last year of a proposal for so-called skinny master accounts, or payment accounts that certain financial institutions could use exclusively for payment processing. The accounts have been expected to make it easier for crypto firms to access the Fed’s payment system while reducing reliance on traditional bank intermediaries. Coinbase had made a similar argument in February.

An anonymous whale address beginning with 0x03403 deposited 5,000 ETH worth $9.42 million to Binance, EmberCN said on X. The address withdrew 9,891 ETH from Binance in 2024 at an average price of $3,011, and the holding period is estimated at about two years. If the latest deposit was sold, the loss is estimated at $5.63 million.