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U.S. spot Ethereum ETFs saw net outflows of about $1.7 million on Aug. 11, according to Farside Investors, marking a second straight trading day of net outflows. - BlackRock ETHA: +$600,000 - Fidelity FETH: -$2.3 million

U.S. spot Bitcoin ETFs saw net inflows of about $7.8 million on Aug. 11, reversing to net inflows after one day of net outflows, according to Farside Investors. - BlackRock IBIT: +$50.2 million - Fidelity FBTC: -$4.1 million - ARK Invest ARKB: -$11.5 million - Franklin Templeton EZBC: -$16.5 million - VanEck HODL: -$10.3 million

ARK Invest crypto research director Lorenzo Valente said centralized companies in the crypto industry generate about 8.5 times more annual revenue than the onchain sector, including layer-1s, layer-2s and apps. In a post on X, Valente estimated 2025 onchain revenue at about $8 billion, compared with about $70 billion for centralized companies. Valente said centralized firms monetize direct user relationships by handling the complexity tied to crypto use, including trading, staking, custody and asset management. Valente added onchain companies should expand beyond providing underlying technology and move into user-facing services. Valente said revenue figures for privately held companies including Binance and Tether were estimated to a significant extent because public data is unavailable, and put total revenue for centralized companies in a range of about $60 billion to $100 billion.

Harmony said via its official social media channels that the team is working closely with internal staff and major relevant exchanges to block and freeze the leaked funds, according to on-chain data. Harmony added it is also reviewing system patches and possible rollback measures from multiple angles, and said it will provide further updates once new information is confirmed. The statement follows an exploit on the Harmony network in which four billion ONE tokens, equal to 26% of total supply, were allegedly minted without authorization using empty blocks. Of that amount, 2.8 billion tokens quickly flowed into major exchanges, sending the token price sharply lower, while the endpoint used to check total supply data was found to have been concealing the actual supply inflation.

Weekly trading volume on prediction market platforms Polymarket and Kalshi has declined as demand eased amid a lack of major events, Bloomberg reported on Aug. 12. According to data compiled by Dune Analytics, Polymarket’s weekly trading volume, combining its global and U.S.-only platforms, was down 56% at the end of last month from the record high it reached in June. Bloomberg said fewer major sports matchups and political issues have reduced trading demand. Rival Kalshi showed a smaller decline after the World Cup ended, with weekly volume down 25% over the same period.

Stanford cryptographer Dan Boneh says quantum computers will not break Bitcoin security Dan Boneh, a computer science professor in Stanford University’s Applied Cryptography Group, dismissed concerns that quantum computers will undermine Bitcoin’s security, The Bitcoin Historian reported. He said anyone who believes quantum computers will compromise blockchain security is mistaken, adding that the issue can be addressed by moving to post-quantum addresses. Boneh said there are technical details to resolve, but the broader path forward is already well understood and Bitcoin will solve the problem.

South Korea’s National Tax Service plans to add more digital-asset transaction tracking programs as part of efforts to curb tax evasion, Digital Asset reported. According to the agency’s national tax administration operating plan released today, the authority plans to run a 10,000-member task force to manage overdue national taxes and non-tax revenue and assess the status of cumulative arrears totaling 130 trillion won. It also plans to strengthen anti-evasion infrastructure by adding more digital-asset transaction tracking programs and advancing an AI-based forensic system.

Researchers in Ireland said installing Bitcoin mining facilities alongside wind farms could lift plant revenue by using electricity that would otherwise be wasted amid grid constraints. According to a paper by researchers at Technological University of the Shannon published in the August issue of Energy Economics, a 100 MW wind farm equipped with 20 MW of latest-generation mining rigs could use 83% of otherwise curtailed power for mining. Combined revenue from wind generation and mining was about 32% higher than revenue from wind power alone, although older mining machines were not economically viable.

According to Arkham data, Metaplanet transferred 1,473 BTC worth about $93.82 million to an external address around one hour ago, while Bitcoin miner Hut 8 moved 493 BTC worth about $31.36 million externally around three hours ago. The combined transfers totaled 1,966 BTC, or about $125.18 million.

A cross-chain bridge linking Coreum and the XRP Ledger was hacked on Aug. 9, with about 199,916 XRP stolen, Crypto Briefing reported. XRP held on the bridge fell to 493.5 from about 200,410 after the attack. The incident did not involve a breach of the XRP Ledger itself or any private keys, according to the report. Instead, the attacker exploited a vulnerability in the bridge’s deposit verification system, deceiving it into recognizing fake deposits as legitimate and releasing XRP. On-chain data showed 94 abnormal withdrawals over about 97 minutes. The Coreum bridge is currently offline, and the Coreum Development Foundation has not yet released an official incident report.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $44.75 million liquidated (85.86% longs) - ETH: $33.02 million liquidated (69.31% longs) - XRP: $8.68 million liquidated (90.10% longs)

Bithumb announced it will temporarily suspend LWP deposits and withdrawals starting at 2:00 a.m. UTC on Aug. 14 to support the LumiWave Protocol (LWP) network upgrade.

Conservative developer Luke Dashjr announced a random-selection method chose BLAKE2b as the new proof-of-work algorithm for the BIP-110 chain. According to Odaily, compared with SHA-256d, the algorithm is better suited to mining with standard CPUs and GPUs and places a lighter load on CPUs.

South Korean crypto exchange Bithumb announced the addition of Tellor (TRB) to its won-denominated market at 5:00 a.m. UTC today.

Taiwanese singer Jeffrey Huang, better known as Machi Big Brother, lost $2.5 million after his ETH long position was liquidated twice overnight, Spot On Chain reported. Huang has since reopened an ETH long worth $4.6 million with only about $180,000 in margin remaining, implying roughly 25x leverage.

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.