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Move Industries CEO Torab Torabi said Move Industries has no relationship with MVMT Labs, which filed for Chapter 11 bankruptcy protection, and was not involved in the related bankruptcy process. In a post on X, Torabi said MVMT Labs had filed for bankruptcy but was a separate company from Move Industries. Torabi added that Movement is currently operating as a global fintech company using a licensed stablecoin payments network. Before Torabi’s clarification, MVMT Labs, the developer behind Movement (MOVE), had been reported to have filed for Chapter 11 bankruptcy protection. Move Industries emerged from Movement after last year’s MOVE plunge and alleged misconduct tied to a market maker, positioning itself as a fintech company developing stablecoin payment solutions.

South Korean exchange Upbit announced it will temporarily suspend POLYX deposits and withdrawals from 3:10 a.m. UTC on July 22 due to a Polymesh network upgrade.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $73.21 million liquidated (88.91% shorts) - ETH: $40.27 million liquidated (77.49% shorts) - SNDK: $10.05 million liquidated (86.39% shorts)

Financial platform Ramp has launched stablecoin accounts that support the Solana chain, SolanaFloor reported. Ramp’s stablecoin accounts support multiple chains, including Solana, and allow businesses to hold and make payments in USDC and USDT. Ramp is a financial platform used by more than 70,000 businesses.

U.S. data centers are projected to increase their share of the nation’s electricity consumption from about 5.9% currently to 20%, or 106 GW, by 2035 as demand from AI and cryptocurrency mining surges, BloombergNEF said, according to Crypto Briefing. BloombergNEF expects Bitcoin mining companies to use their large-scale power infrastructure to work with major technology companies such as CoreWeave in converting facilities into AI-focused data centers, with 20% of mining capacity likely to be repurposed for AI use by 2027.

Progressive U.S. groups are pressuring Democrats not to support the CLARITY Act, a crypto market structure bill, while criticizing Democratic Sen. Kirsten Gillibrand for mediating a compromise on the bill’s ethics provisions, Axios reported. Indivisible, Demand Progress and the Revolving Door Project sent a letter to every Democratic Senate office arguing that, because of crypto industry activity involving Gillibrand’s son, Democrats could be left with less ground to criticize President Donald Trump’s crypto business. Gillibrand holds that elected officials and their spouses should be barred from issuing or endorsing their own cryptocurrencies. Both parties are continuing negotiations to secure the 60 votes needed to pass the bill, with the ethics provision seen as the biggest obstacle. Republican lawmakers are discussing a compromise with the White House, but details have not been disclosed.

Hut 8, which has recast itself from a Bitcoin mining company into an AI infrastructure firm, has seen its stock surge by nearly 200% at its peak this year, while American Bitcoin, or ABTC, the subsidiary handling its Bitcoin mining business, has remained under pressure, BeInCrypto reported. According to the outlet, TradingView data showed Hut 8 shares rising from $44 to $133 this year. It said the rally was influenced by a $9.8 billion, 15-year AI data center lease deal with a large private technology company. By contrast, ABTC, which was spun off in March 2025, failed to meet market expectations despite continuing to expand its mining equipment and Bitcoin holdings. Its stock is down more than 76% this year, while the value of Eric Trump's stake has also reportedly fallen by more than $600 million. Hut 8 CEO Asher Genoot told CNBC the company’s shift from a Bitcoin mining-focused business to AI infrastructure was delivering positive results for shareholders.

Bitcoin has risen more sharply on Japanese exchanges than on South Korean platforms this month as the yen fell to its weakest level in 40 years, Maeil Business Newspaper reported. On Japan’s bitFlyer exchange, BTC has gained 14.57% so far this month, compared with a 9.21% rise on South Korean exchange Upbit. The dollar-yen exchange rate climbed to 163.16 yen from 161 yen this month, while the dollar-won rate fell to 1,480 won from 1,552 won.

Daily trading volume on South Korean cryptocurrency exchanges fell 88% from a year earlier to 412.7 billion won ($297.1 million) on July 20, ZDNet Korea reported. The outlet said the decline was mainly attributed to falling cryptocurrency prices, including Bitcoin, and added that weaker exchange earnings could have broader effects, including sales of held assets.

S&P Dow Jones Indices and Pantera Capital have launched the S&P Pantera Digital Asset Index, a cryptocurrency index built around protocol revenue and the economic benefits received by token holders. Rather than selecting assets based only on market overheating or size, the index includes tokens only after checking whether they have sustained quarterly operating profitability above a minimum threshold and whether those earnings are actually passed on to token holders through mechanisms such as buybacks and staking yields excluding inflation-driven rewards. Artemis is responsible for on-chain data verification. The index launched with 18 constituents, with weightings based on market capitalization adjusted for actual circulating supply. The initial basket includes Hyperliquid (HYPE), Solana (SOL), and Aave (AAVE). On an annualized basis, revenue generated over the past two quarters by all included tokens exceeds $3 billion.

The Winklevoss twins, founders of U.S. cryptocurrency exchange Gemini, donated about $10.01 million worth of Bitcoin to MAGA Inc., a super PAC supporting President Donald Trump, last month, CryptoSlate reported. According to disclosed filings, MAGA Inc. sold the donated Bitcoin through Gemini and converted it into cash.

AI shopping agent developer ORO said it lost about $630,000 worth of ALPHA tokens in an attack by a North Korean hacking group. According to Protos, citing ORO’s incident report, an employee was infected with malware while joining a video call after being contacted on Telegram by an acquaintance the employee had met at an offline conference. ORO said the hackers, believed to be the North Korean state-backed group

Ethereum’s privacy-focused proposal EIP-8222 could address the exposure of institutional investors’ staking strategies, but it would also increase operating costs and complexity, Swiss digital asset bank Sygnum said, according to Bitcoin.com. Thibault Dubuis, Sygnum’s head of staking and DeFi, said staking deposit addresses, validators and withdrawal information are currently linked, allowing institutions’ holdings, entry timing and operating strategies to be tracked on-chain. He added that adding privacy features could lower barriers to market entry for institutions while raising the practical barriers to trade execution and operations. If adopted, EIP-8222 would use STARK-based cryptography to separate deposits and withdrawals and re-anonymize validators, making it possible for institutions to stake without disclosing their operating strategies. Dubuis said a fixed-denomination deposit structure and waiting times for withdrawals could reduce capital efficiency and slow processing, while operational burdens tied to key management, custody, slashing and regulatory reporting would still remain.

South Korean exchange Upbit announced it will temporarily suspend deposits and withdrawals for cryptocurrencies on the Polygon (POL) network starting at 11:00 a.m. UTC on July 29 due to a Polygon network hard fork. As a result, deposits and withdrawals on the Polygon network for cryptocurrencies including POL and GMT will be temporarily halted from that time.

An ETH whale address beginning with 0x121c sold its entire 1,862.3 ETH position, worth about $3.58 million, around 10 hours ago at an average price of $1,923 per token, locking in a loss of about $1.42 million, according to a CoinNess analysis citing Lookonchain. The loss amounted to a -28% return. The whale had bought the 1,862.3 ETH in January at an average price of $2,685 as ETH was in a steep decline at the time. According to CoinMarketCap, ETH was recently trading at $1,933.09, up 1.07%.

Coinbase (Nasdaq: COIN) is working to build an all-in-one platform in Canada integrating cryptocurrency, tokenized stocks and prediction market trading, Eric Richmond, head of Coinbase Canada, said in an interview with BNN Bloomberg. Richmond said blockchain technology enables 24/7 trading and can remove the time limits of traditional financial markets, adding Coinbase is working with Canadian authorities to prepare the platform’s launch. He also said Coinbase plans to launch a tokenized stock service this month for users outside the U.S. Richmond added that establishing regulations for a Canadian dollar-pegged stablecoin could create an opening for innovation in new financial products.

Dollar-linked stablecoins could act as a new form of digital dollarization in emerging markets and threaten local monetary sovereignty, according to an analysis by researchers at the Bank for International Settlements, or BIS. The BIS researchers analyzed foreign reserve holdings across more than 130 countries and stablecoin inflow data, finding that changes in reserve holdings clearly reflected macroeconomic risks, while stablecoins appeared to show little response to capital controls or foreign-exchange regulations imposed by authorities in emerging markets, Odaily reported. BIS emphasized that stablecoins could undermine monetary sovereignty in emerging economies and said authorities need new tools to address financial stability risks stemming from stablecoins.

A wallet believed to be tied to crypto investment firm Multicoin Capital appears to have moved 607,000 HYPE worth $37 million in what may be a sale, on-chain analyst EmberCN said. EmberCN said the address deposited 395,000 HYPE into Coinbase four hours ago and also requested the unstaking of 211,000 HYPE that had been staked on Hyperliquid. The holdings appear to have been acquired over the counter through Galaxy Digital in February at about $30 per token. With HYPE now trading at $61, the whale would have realized an estimated $18.8 million profit if all of the tokens were sold, according to the analysis. EmberCN added that a Coinbase deposit and an unstaking request alone are not enough to conclude an actual sale took place.

BlackRock withdrew 1,789.6 BTC worth $119.17 million from Coinbase Prime early today, according to Onchain Lens. The BTC outflow from the exchange may have been part of BlackRock's operational processes, including settlements tied to inflows and outflows in its spot crypto ETFs.

Solana- and Hyperliquid-linked ETFs account for about 80% of altcoin ETF trading volume excluding Bitcoin and Ethereum, and still have room to grow relative to Bitcoin ETFs, according to an analysis by The Block. SOL ETFs have $904 million in assets under management, while HYPE ETFs hold $350 million. The two ETF categories each amount to about 2% of their tokens' respective market capitalizations, compared with roughly 9% for BTC, suggesting further upside if they attract more investors. The Block said BTC and ETH have a higher share of long-term and passive investors, while SOL and HYPE are still drawing more risk-tolerant investors amid regulatory uncertainty and higher volatility. It added that if the two projects work with regulators and expand tokenized real-world asset, or RWA, infrastructure, that could bring in new investors.

Polygon (POL) said on its official X account it has deployed the Ithaca hard fork on the Amoy testnet. The Ithaca hard fork is scheduled to go live on the mainnet at 2:00 p.m. UTC on July 29. The upgrade is designed to make Polygon-based payments more stable, with an automatic mechanism that intervenes if issues arise on the chain to help keep payments running smoothly. If exchanges also support the upgrade, deposits and withdrawals on affected exchanges may be temporarily suspended.

CoinMarketCap’s Altcoin Season Index, a broad cryptocurrency market indicator, rose two points from yesterday to 52. The index is calculated by comparing the price performance of Bitcoin with that of the top 100 coins by market capitalization, excluding stablecoins and wrapped coins. If 75% of those top 100 coins outperform Bitcoin over the past 90 days, the market is considered to be in altcoin season; if the opposite is true, it is viewed as Bitcoin season. A reading closer to 100 indicates a stronger altcoin season.

South Korea’s KOSPI climbed more than 5% early in the session to reclaim the 7,000 level for the first time in five trading days since July 16. The sharp rise prompted the Korea Exchange to trigger a buy-side sidecar for a second straight day after doing so yesterday. The KOSPI was recently trading at 7,138.78, up 5.79% from the previous session.

Bitcoin has recently recovered, but spot demand has yet to emerge, crypto analyst Sunny Mom said in a CryptoQuant contribution. Sunny Mom said BTC recently rose from $64,000 to $66,000, driven not by simple short covering but by fresh leveraged positions. Funding rates have not yet reached overheated levels, while spot trading volume has remained dry since April. Futures volume has also stayed near neutral levels rather than surging. Sunny Mom added stablecoin flows have not declined, but their pace has slowed. That suggests capital has not exited the market so much as shifted into a wait-and-see mode. Spot Bitcoin ETFs have recently posted net inflows, Sunny Mom said, but those inflows have not been enough to pull overall spot trading volume out of its dry spell.

CoinMarketCap’s in-house Crypto Fear and Greed Index rose three points from yesterday to 40, shifting from fear to neutral. The index indicates extreme fear when it is closer to zero and extreme optimism when it is closer to 100. CoinMarketCap calculates the index based on price moves among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market indicators such as the put/call ratio, the stablecoin supply ratio (SSR), and CoinMarketCap’s own search data.