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July CEX spot and derivatives trading volume fell 23.9% from a month earlier to $3.76 trillion, the lowest since November 2023, CoinDesk reported. Spot volume dropped 31.2% to $727 billion, the weakest level since October 2023, while derivatives volume declined 21.9% to $3.03 trillion. By contrast, decentralized exchanges’ share of total spot trading rose to a record 19.5%. Derivatives also accounted for 80.6% of total CEX volume, the highest since September 2023. CEX trading volume in real-world asset perpetual futures climbed 47.8% to a record $460 billion.

Bitwise CIO Matt Hougan said Bitcoin may have already passed its bear-market bottom, citing the fact that the price has remained relatively resilient despite a string of negative developments, according to Bloomberg. In an interview with Bloomberg, Hougan said BTC has held up despite headwinds including the Coldcard wallet hack, delays to the CLARITY Act and Strategy's BTC sales, which he said suggests the market may have bottomed. Hougan added the next bull run is likely to be driven by capital inflows through large asset management platforms.

South Korean crypto exchange Upbit announced the addition of PROM for KRW and USDT trading at 3:30 a.m. UTC today.

Bitmine stakes $289.4M in ETH over past week Ethereum accumulation company Bitmine (BMNR) added $289.4 million worth of ETH to staking over the past week, Arkham said on X. Bitmine’s staked ETH now accounts for 4.2% of Ethereum’s total supply.

CryptoQuant CEO Ki Young Ju said the current Bitcoin market is being driven by futures demand, and any rebound is unlikely to last unless spot demand follows. In a post on X, Ki said open interest is rising while on-chain spot demand remains in net decline, adding that both spot and futures demand are needed for a sustained advance. Ki also said futures led the uptrend in April, but the move did not last because spot demand failed to provide support. Ki added the conditions for a bull market are not yet in place. A CryptoQuant indicator heat map shared by Ki showed that, among 15 indicators, eight including the profit and loss index and Bitcoin demand metrics were classified as BEAR, while the remaining seven were marked NEUTRAL. None signaled BULL.

A newly created address beginning with 0x752 withdrew 2,250 ETH worth $4.23 million from crypto casino platform Rollbit 10 hours ago, according to on-chain analyst ai_9684xtpa.

The U.S. Office of the Comptroller of the Currency said companies using new technologies such as cryptocurrency should also have a path to obtaining a federal bank charter. OCC Chairman Jonathan Gould said the Federal Deposit Insurance Corp.'s recent move to improve its deposit insurance application review process was in line with the OCC's efforts to encourage new banks to enter the market. Gould added legitimate businesses should be able to become national banks even if they deal with digital assets or new technologies.

Bitwise, a crypto asset manager and issuer of a spot Bitcoin ETF, has cut about 14% of its workforce as the crypto market downturn persists, Bloomberg reported. Headcount fell to about 155 from around 180. Bitwise manages more than 70 products, including a $2.3 billion BTC ETF, with about $9 billion in assets under management. BTC was trading around $64,000, down about 50% from its all-time high in October last year, and the broader crypto market downturn has continued for about 10 months.

The Litentry team transferred $4.57 million worth of LIT to a new wallet, according to Onchain Lens.

Ethereum layer-2 Morph announced the launch of Morph Payments, a stablecoin payment platform for enterprises. The platform allows businesses to accept stablecoins through payment links without separate development, while customers can pay using their existing wallets and networks. Businesses can receive funds on their preferred network, and the platform also supports stablecoin payouts to partners and employees. Gas fees can be paid in stablecoins, and funds are stored in the business’s own wallet rather than being held in custody by Morph.

Stablecoin card provider Rain said it has acquired Ansa, a startup that helps companies operate their own branded digital prepaid wallets. Ansa provides B2B software that lets customers spend preloaded balances with the issuing company. While those wallet balances had previously been usable only with that company, Rain plans to support spending at other designated merchants through the Visa and Mastercard payment networks. Following the acquisition, Ansa founder Sophia Goldberg will join Rain as head of payments.

Bithumb faces questions over altcoin withdrawal delays as regulator begins review Altcoin withdrawals on South Korean exchange Bithumb were delayed for more than 13 hours, Digital Times reported, and South Korea’s Financial Supervisory Service said it would check the exact facts. Bithumb said the delay stemmed from the time needed to move virtual assets from a cold wallet to a hot wallet. Still, questions are growing over whether the issue can be seen as a simple wallet transfer problem, as delays involving some altcoin withdrawals have been raised repeatedly in the past, according to the report. One user who requested an altcoin withdrawal from Bithumb yesterday completed the withdrawal at around 3:25 p.m. on Aug. 11, roughly 13 hours later. After the withdrawal remained unprocessed for about four hours, the user contacted Bithumb’s customer service center. At the time, the center said in English, "현재 잔고 부족으로 인한 출금 지연 중이며 내부 기준에 따라 충전 후 출금 예정". Bithumb said its actual virtual asset balance had not been insufficient. Industry participants are focusing on the possibility that the withdrawal delay was not just a one-off incident this time, the report said.

Coinbase said it has added AI agent payments and USDT payment support to Coinbase Business, its payment service for companies. AI agents can make payments through existing checkout systems using the open standard x402, with funds settled instantly in USDC. When customers pay in USDT, the amount is automatically converted into USDC and deposited into a Coinbase Business account.

A Spritehood NFT collection launched on Robinhood Chain by former Pudgy Penguins co-founder Cole Villemain sold out all 44,444 items in under an hour, The Defiant reported. According to on-chain analyst 0xlaplaced, 42,956 NFTs were sold for a total of $1.28 million, while the remaining 1,488 were minted for free before the sale began. Of the paid NFTs, 37,430 sold for $17 each, while 5,526 sold for $117 each with a $100 upgrade option added. Villemain was removed from the Pudgy Penguins team through a community vote in January 2022 after allegations surfaced over misuse of project funds, but Villemain has never been indicted in connection with those allegations.

CoinMarketCap’s Altcoin Season Index stood at 42. The index is calculated by comparing the price performance of Bitcoin and the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped tokens. An altcoin season is identified when 75% of the top 100 coins outperform Bitcoin over the past 90 days, while the opposite is considered a Bitcoin season. A reading closer to 100 indicates stronger altcoin-season conditions.

The U.S. SEC is considering a plan that would let U.S.-listed companies object to third-party listings of tokenized versions of their shares, Bloomberg reported. According to Bloomberg, the SEC’s proposed "innovation exemption" could also limit stock-token trading platforms to U.S. entities and tighten anti-money laundering rules. Details could be released as early as Aug. 14.

U.S. SEC and CFTC have filed separate civil complaints against Goliath Ventures and founder Christopher Delgado over an alleged roughly $400 million crypto Ponzi scheme, Cointelegraph reported. The SEC alleged Goliath raised at least $425 million from more than 1,300 investors by saying the funds would be invested in cryptocurrency liquidity pools, but did not actually invest the money and instead used funds from new investors to pay returns promised to earlier investors. The agency also alleged Delgado personally diverted at least $51 million. According to the CFTC, Goliath took in at least $397 million from about 1,600 people while claiming it would generate profits through Bitcoin and Ethereum trading. The CFTC is seeking victim restitution, disgorgement, civil monetary penalties, and trading and registration bans. Delgado had previously pleaded guilty to wire fraud, conspiracy to commit wire fraud, and money laundering.

South Korea’s Kyobo Life Insurance said it signed a memorandum of understanding with Viva Republica, the operator of Toss, to cooperate on building a digital asset ecosystem and related services, according to Digital Asset. Under the agreement, the two companies will lay the groundwork to jointly develop financial services using digital assets.

About 700 trillion won ($505.2 billion) in virtual assets has moved from South Korean crypto exchanges to overseas exchanges from 2021 through this year, Newsis reported. In a joint report, Web3 research firm Tiger Research and Chainalysis interpreted the trend not as weakening domestic demand, but as unmet demand in South Korea shifting offshore. About 168 trillion won ($121.2 billion) flowed out last year alone, and South Korean investors are estimated to have paid about 5 trillion won ($3.6 billion) in trading fees to use overseas exchanges in the same year.

The spot CVD chart 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 upper volume heatmap tracks trading volume at each price level, with the background becoming brighter when the price stays in a specific range for an extended period or makes a large move. Brighter zones may act as support or resistance. - The lower cumulative volume delta indicator reflects buy and sell orders by fund size. As buy orders increase, the line in the corresponding color moves higher. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

Onchain Lens said an anonymous whale is estimated to have sold $9.59 million worth of ETH over the past hour, sending 2,440 ETH to FalconX, 1,180 ETH to Galaxy Digital and 1,480 ETH to Coinbase.

CoinMarketCap’s in-house Crypto Fear and Greed Index came in at 37, unchanged from yesterday, with the market remaining in fear territory. The index indicates more extreme fear as it moves closer to zero and greater optimism as it approaches 100. CoinMarketCap calculates the gauge based on price moves among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market indicators including the put/call ratio, the stablecoin supply ratio, or SSR, and CoinMarketCap’s own search data.

BC Card completes South Korea’s first stablecoin payment proof of concept with Coinbase South Korean card company BC Card said it has completed a proof of concept with Coinbase and institutional digital-asset technology firm Wavebridge linking overseas digital-asset wallets with South Korea’s card payment network, The Fair reported. The three-month pilot, which began in April, tested a scenario in which foreign visitors made payments at domestic BC QR merchants using USDC held in Coinbase’s "Base" wallet, without going through a separate currency exchange process.

Alameda Research unstaked 201,740 SOL for the first time in five years and transferred 201,780 SOL to a BitGo custody wallet, Onchain Lens reported. The transfer is estimated to be part of a plan to sell the tokens over the counter through BitGo.

On-chain analyst ZachXBT has identified Tiffany Milanovich as the person behind at least $5 million in cryptocurrency thefts carried out by impersonating customer support staff at hardware wallet providers and centralized exchanges, CryptoPotato reported. Milanovich was known to have sent phishing emails under the alias "Patricia Massie" in June, stealing a Trezor wallet and taking $1.2 million worth of BTC and ETH. In October 2025, Milanovich also gained access to a Coinbase account and obtained about $500,000 worth of Bitcoin. After withdrawing victims' funds, Milanovich allegedly left call recordings mocking victims and flaunted the crimes through gambling, luxury purchases, and balance screenshots posted on Telegram and Discord. Milanovich was also found to have continued the activity despite already being subject to a search warrant in Connecticut.