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Robinhood reports $100M in Q2 crypto revenue, topping estimates Robinhood (HOOD) said in its second-quarter earnings report that revenue from its cryptocurrency business totaled $100 million. The figure was down 38% from a year earlier but came in above market expectations of $86.6 million. BeInCrypto said growth in prediction markets, equities and subscription services offset weak crypto trading.

Twenty One Capital CEO Raphael Zagury said Bitcoin asset managers cannot generate profits indefinitely through a model of investing at a premium, and the solution is to build cash-generating businesses on top of a company’s Bitcoin holdings, according to CryptoSlate. Zagury added there is no such thing as free money forever and, while premiums could return, they should not be the sole source of shareholder returns.

US stocks close lower The three major U.S. stock indices closed lower today. - S&P 500: -1.51% - Nasdaq: -1.74% - Dow Jones: -2.18%

Binance.US plans to file an application next month with the U.S. Commodity Futures Trading Commission for designated contract market status to offer prediction market services to U.S. users, Unfolded reported.

Fed Chairman Christopher Waller said he watches broader inflation gauges than the personal consumption expenditures price index, or PCE, when assessing price pressures. Waller added that while the Fed’s policy mandate is fairly narrow, his own perspective is broader than PCE.

Federal Reserve Chairman Kevin Warsh said at a press conference that the Fed would not be constrained by market pricing in making interest-rate decisions, adding that markets can be a useful source of information but not a decisive one. Warsh also said he was hearing that households and businesses were losing patience, and that while the Fed would refer to the views of outside working groups, its final judgment would not be determined by them.

Federal Reserve Chair Kevin Warsh said he will continue holding press conferences through the end of this year.

D-Wave CEO warns quantum computing could eventually undermine Bitcoin PoW Alan Baratz, CEO of U.S. quantum computing company D-Wave, warned quantum computing could eventually render Bitcoin’s proof-of-work protocol ineffective. In an interview with Yahoo Finance, Baratz said it was clear sufficiently advanced quantum computers would one day outperform the hardware used for major cryptocurrency mining, and added that while the timing remains unclear, the crypto industry should begin considering alternatives.

Fed Chairman Kevin Warsh said higher rates could be part of the solution if inflation remains elevated.

Fed Chairman Kevin Warsh says 2% inflation target remains unchanged U.S. Federal Reserve Chairman Kevin Warsh said after the FOMC meeting that it would be difficult to fully unwind five years of high inflation in just nine weeks, but the Fed would remain steadfast and keep its sole target at 2% inflation. Warsh said the meeting discussed four issues: five years of elevated inflation, recent economic shocks, price increases stemming from those shocks, and monetary policy tools and strategy.

CME FedWatch puts the probability of a 25-basis-point rate hike at the September Federal Open Market Committee meeting at 74.5%. The probability of rates being left unchanged stands at 22.7%, while the odds of a 50-basis-point increase are 2.9%.

Fed FOMC sees unusual split as three members oppose rate hold The Federal Reserve held interest rates steady and said in its Federal Open Market Committee statement that three members opposed the decision, an unusual split compared with the previous meeting, when the rate hold was unanimous. It was also the first time since 2016 that three members dissented. The Fed said in the statement that the unemployment rate had shown little change and that it would continue its policy of maintaining ample reserves in the banking system.

The U.S. Federal Reserve’s Federal Open Market Committee, or FOMC, announced in an official statement that it would hold its benchmark interest rate steady, in line with market expectations. As a result, the U.S. benchmark rate remained at 3.50% to 3.75%.

Polymarket US is on track to post a record monthly trading volume in July, topping $4.5 billion, The Block reported. The increase was driven by markets tied to the World Cup, entertainment and IPOs, according to the report.

Long-term BTC holders keep accumulating as market enters stabilization phase Bitfinex said long-term Bitcoin holders continued to accumulate BTC even as the price fell from $82,000 to under $58,000. It added that the scale of accumulation declined to around 14,000 BTC by late July from about 40,000 BTC in late May, while both buying and selling activity were slowing. The market now appears to be entering a stabilization phase rather than a full recovery, according to the analysis.

Anchorage Digital said the U.S. Federal Reserve’s proposal for a payment account that certain financial institutions could use only for payment processing is not a practical alternative to a master account, according to The Block. The crypto bank said it supports the Fed’s effort to broaden access to the payment system, but argued the framework would place Anchorage Digital and many other firms in a category subject to heightened review. Anchorage Digital added it is concerned those firms would be unable to use FedACH, the central bank-operated electronic payment network for banks and other financial institutions. If access to FedACH is blocked, the practical utility of a payment account would be limited, and account holders would still need to rely on intermediaries for routine payments and settlement, Anchorage Digital said.

Privacy-focused blockchain networks are growing quickly as institutional investors expand blockchain adoption, according to a Chainalysis analysis. Chainalysis said Canton, Solana Confidential Transfers, Zcash and Aztec each protect privacy in different ways, and their differing network structures require different compliance approaches. Privacy is becoming core blockchain infrastructure, it added, and monitoring technology tailored to that shift also needs to advance.

CME FedWatch puts the probability of the Federal Reserve holding rates steady at 66.3% at the July Federal Open Market Committee meeting, with the chance of a 25-basis-point hike at 33.7%.

Morgan Stanley executive says tokenization shift signals end of 9-to-5 banking era Betsy Graseck, Morgan Stanley’s global head of banking and diversified finance research, said the shift toward tokenized assets means more than crypto and signals the end of the traditional 9-to-5 banking era, according to CoinDesk. Speaking on a panel on digital assets, Graseck said the era of working around fixed banking hours is ending and reflects a broader trend across financial markets, with banks and exchanges investing in technology that allows assets to move around the clock rather than only during business hours. Graseck added investor demand is no longer limited to cryptocurrencies such as Bitcoin, with institutional investors focusing on tokenization to improve cash mobility, increase collateral efficiency and create new investment opportunities. Graseck said companies that ignore the trend risk falling behind, and those that fail to modernize their systems in step with the shift toward digital assets may struggle to build a foundation for growth.

Nasdaq falls more than 1% intraday The Nasdaq’s intraday decline widened to 1.35% in U.S. stock trading. The S&P 500 was down 1.00%, while the Dow Jones fell 1.66%.

Vanguard adds 269,200 Strive shares through VTSAX, BitcoinTreasuries.NET says Asset manager Vanguard bought an additional 269,200 shares of Strive (ASST), a Bitcoin treasury company, through its flagship index fund, the Vanguard Total Stock Market Index Fund (VTSAX), BitcoinTreasuries.NET reported. The purchase raised the fund’s Strive holdings to about 1.98 million shares, worth roughly $23.7 million.

Coinbase announced the addition of GRVT. Trading will begin once liquidity conditions are met.

Brale unveils ION protocol to ease cross-chain scaling bottlenecks for custom stablecoins Stablecoin developer Brale has unveiled the ION Protocol, an interoperability system designed to address the challenge of moving a rapidly growing number of custom stablecoins smoothly across blockchains, CoinDesk reported. According to CoinDesk, the ION Protocol supports cross-chain transfers by having participating stablecoins burn tokens on one network and mint the same amount on another. Unlike most blockchain bridges, the model does not require liquidity pools to be pre-funded on every supported chain.

International oil prices jump more than 7% intraday, with WTI at $84 International oil prices were sharply higher intraday, with Brent crude up 7% at $87.69 a barrel and WTI crude rising 7.3% to $84 a barrel.

Six anonymous addresses withdrew a combined 4.452 million KAITO worth about $5.61 million from Binance over the past four days, according to EmberCN. EmberCN added that KAITO rose about 35% over the same period, from $0.93 to $1.26. Over the past month, the token has surged about 193%, climbing from $0.43 to $1.26.