Daily digests
Crypto News Digest: July 17, 2026
The stories that moved crypto on July 17, 2026.
40 stories
All crypto news
Bank of America taps new leaders to bridge crypto, AI and traditional finance
Bank of America is appointing new leaders to bridge the gap between crypto, AI, and traditional finance, with Sonali Theisen becoming head of its global digital assets platform and Kevin Milsom taking on the role of head of AI transformation, signaling a significant push into emerging technologies that could reshape the financial landscape and drive innovation.
FTX to distribute $900M to creditors in fifth payment round
FTX is distributing $900M to creditors in its fifth payment round. The FTX Recovery Trust has distributed about $10 billion since the exchange filed for bankruptcy in November 2022, leaving users cut off from their funds.
Galaxy lands 15-year Texas Tech stadium naming rights deal
Galaxy Digital is set to rename Texas Tech's football stadium under a 15-year agreement, expanding its West Texas presence as the state attracts growing crypto investment. The deal solidifies Galaxy's foothold in the region, potentially paving the way for increased crypto adoption and investment in the area, with implications for the growing US crypto market.
ECB Warns Stablecoins May Drain Bank Deposits—Here's What That Means
ECB board member Piero Cipollone warns that stablecoins pose a threat to bank deposits, citing a three-layer risk to banks from digital payments. He emphasizes the need for a digital euro as the only structural solution.
Polymarket traders cut Clarity Act passage odds to record low as Senate delay drags on
Polymarket traders have cut the odds of the CLARITY Act passing this year to a record low, currently at 0.02, as Senate negotiations over ethics provisions remain unresolved. The delay has led to a decline in market confidence, with traders increasingly skeptical about the bill's chances of being passed in the current legislative session.
Cardano Pumps as Network Moves to Further Decentralize Development
Cardano's ADA token is pumping as the network shifts towards further decentralization, with Input Output handing over core infrastructure to outside teams. This move is expected to boost ADA's price as an imminent protocol upgrade approaches, scheduled to introduce significant changes to the network's functionality, potentially leading to increased adoption and a surge in the cryptocurrency's value.
Crypto Biz: When dollars disappear, stablecoins step in
Bolivia is set to recognize USDT as a stablecoin, addressing a severe dollar shortage in the country. This move could increase adoption and usage of USDT. Meanwhile, Bitcoin miners' AI ambitions are facing investor scrutiny, potentially impacting the industry's growth. The shift towards stablecoins may indicate a growing need for dollar substitutes in emerging markets, underscoring their increasing relevance.
Consensys unknowingly outsourced developer work to North Korean
Consensys unknowingly outsourced developer work to a North Korean individual through a reputable third-party service provider. The investigation revealed the developer's ties to North Korea, sparking concerns about cybersecurity and data integrity. This incident highlights the risks of outsourcing work through unverified third-party providers, potentially compromising sensitive information and damaging reputations in the crypto industry.
CryptoQuant says Strategy still needs disciplined bitcoin buying and selling framework
CryptoQuant emphasizes the need for a disciplined framework in Michael Saylor's Strategy, calling for clearer rules to determine when to buy and sell bitcoin. This framework is crucial for maximizing returns, as it will help investors make informed decisions. The lack of defined guidelines may lead to impulsive trading, negatively impacting portfolio performance.
Kimi K3 Just Triggered DeepSeek Flashbacks for the Stock Market
Moonshot AI's 2.8-trillion-parameter open-weight model has triggered deep-seek flashbacks for the stock market, sending chip stocks plummeting. This model, known as Kimi K3, has caused significant market volatility, reminiscent of previous AI-driven downturns. The sudden shift has Wall Street bracing for a potentially rocky weekend, with chip stocks likely to remain under pressure.
Trezor exec pushes back on ZachXBT claim that hardware wallets are ‘complete garbage’
Trezor executive is pushing back against ZachXBT's claim that hardware wallets are 'complete garbage', stating they are not suitable for critical tasks like signing transactions or storing funds. ZachXBT made this assertion this week, prompting a response from Trezor. The debate highlights the ongoing discussion about hardware wallet security and usability, with implications for cryptocurrency investors seeking secure storage solutions.
FTX to distribute roughly $900 million to creditors in fifth wave of payouts
FTX is distributing roughly $900 million to creditors in its fifth wave of payouts, bringing the total distributed by the company's bankruptcy estate to nearly $10 billion since repayments began in 2025. This significant disbursement underscores FTX's ongoing efforts to resolve its financial obligations, providing relief to affected parties and stabilizing the crypto market's recovery trajectory.
Cardano hands core development to outside teams in decentralization push
Cardano is handing over core development to outside teams as part of its decentralization push, with Input Output transferring control of key components like the Haskell node, Plutus, and Hydra. Founder Charles Hoskinson emphasizes the need for change and growth, citing that the network must adapt to stay competitive in the rapidly evolving blockchain landscape.
Senator Warren requests 2026 reporting for Trump’s crypto earnings after $1.4B disclosure
Senator Elizabeth Warren requests 2026 reporting for Donald Trump's crypto earnings, specifically between January and July, ahead of a 2027 deadline. This comes as the Senate is poised to vote on a crypto bill within days. The move aims to shed light on Trump's $1.4 billion crypto disclosure. Market implications are unclear, but increased regulatory scrutiny may impact crypto adoption.
OKX Europe lets users convert USDT to MiCA-compliant USDC
OKX Europe introduces a feature allowing users to convert USDT to MiCA-compliant USDC, providing a voluntary exit option for European customers. This move comes as MiCA regulations reshape the region's stablecoin market, potentially affecting Tether's USDT dominance. The shift may influence user trust and adoption, impacting the overall market dynamics.
Galaxy Puts Its Name on Texas Tech's Stadium in a 15-Year, Crypto-Native Deal
Galaxy is rebranding Texas Tech's stadium to "Galaxy Stadium" in a 15-year deal, marking a significant crypto-native partnership. The agreement also leverages the region's cheap power and open land, providing Galaxy with a strategic foothold in West Texas. This move underscores the growing influence of crypto firms in the US energy landscape.
Stripe and Swift race to control the next generation of global payments infrastructure
Stripe and Swift are racing to control the next generation of global payments infrastructure, with recent moves indicating a heightened competition between the two established finance companies. This week's developments have crypto and blockchain experts taking notice, as the two giants vie for dominance in the digital payments space, potentially reshaping the industry landscape.
China’s Kimi K3 Is Out—And Beats Claude Fable and GPT 5.6 Sol on Key Benchmarks
China's Kimi K3 AI model is outperforming top competitors, including Claude Fable and GPT 5.6 Sol, on key benchmarks. Kimi K3 tops Fable 5 on a creative writing benchmark and leads Arena AI's frontend code leaderboard at a competitive price point, surpassing Claude Sonnet's pricing. This achievement highlights Kimi K3's capabilities and potential market impact.
Inside Robinhood’s high-stakes bet to onboard 10 million casual users onto decentralized finance
Robinhood is making a high-stakes bet to onboard 10 million casual users onto decentralized finance, leveraging its retail customer base to bring them onchain. However, early activity remains dominated by memecoins, and its original tokenization vision remains relatively small-scale, raising questions about the company's long-term strategy and its ability to drive meaningful adoption in the decentralized finance space.
Bitcoin slides toward $63,000 as Coinbase premium stays negative for a record 60 days
Bitcoin is sliding toward $63,000 as chip stocks decline, contributing to the cryptocurrency's downward trend. The Coinbase premium remains negative for a record 60 days, a sign of low demand. Thin ETF flows also weigh on the market, indicating a lack of investor interest, and exacerbating the downward pressure on Bitcoin's price.
Galaxy Digital puts its name on Texas Tech football stadium in 15-year partnership
Galaxy Digital is partnering with Texas Tech University in a 15-year deal that puts its name on the football stadium, with financial terms undisclosed but reportedly worth over $70 million. This significant investment underscores Galaxy Digital's commitment to sports marketing, potentially increasing brand visibility and credibility in the cryptocurrency space.
Bitcoin price sags under $62.5K as Iran strikes add to US stocks pressure
Bitcoin's price is currently sagging below $62.5K as it follows US stocks lower for a second consecutive day, influenced by the escalating US-Iran conflict. The cryptocurrency's attempt to reach local highs was met with rejection, leading to a reversal and decline. Market pressure is mounting as investors seek safe-haven assets.
Bitcoin ETFs could mirror gold’s history of ‘spectacular gains’ and ‘painful drawdowns,’ analyst says
Bitcoin ETFs, led by IBIT, are rapidly approaching $100 billion in assets under management, a feat that mirrors gold ETF GLD's 2011 surge. Bloomberg ETF analyst Eric Balchunas notes that this could be a precursor to spectacular gains, but also painful drawdowns, similar to gold's historical price fluctuations, potentially impacting investor sentiment and market stability.
Bitcoin faces fresh headwinds as China’s Kimi beats Claude, GPT in coding benchmark
Bitcoin faces fresh headwinds as China's Kimi K3, a free coding benchmark tool, surpasses Claude and OpenAI's GPT in frontend coding, sparking a decline in semiconductor stocks and subsequently crypto markets, with prices plummeting due to increased market volatility and investor concerns about AI's potential disruption to traditional industries and economic sectors.
Crypto-style derivatives reach AI compute ahead of planned CME and ICE futures: Bernstein
Crypto-style derivatives, including perpetual swaps and prediction markets, are rapidly gaining traction in AI compute, outpacing the planned launch of CME and ICE futures. Regulated GPU futures are set to debut in late 2026, but the growing demand for AI compute is driving the adoption of these unregulated derivatives, fueling innovation in the space.
SBI Holdings completes majority acquisition of Singapore crypto platform Coinhako following MAS approval
SBI Holdings completes majority acquisition of Singapore crypto platform Coinhako, following approval from the Monetary Authority of Singapore, MAS. The licensed exchange is now folded into SBI's expanding digital asset network, further solidifying its position in the Southeast Asian market. This move is expected to boost SBI's regional presence and influence.
The British Virgin Islands are a top crypto hub no one ever talks about: Here’s why
Kraken, Bitstamp, 1inch, and Bitfinex have established operations in the British Virgin Islands, a lesser-known crypto hub. Despite their presence, in-person meetings with executives are challenging to arrange. This discrepancy highlights the islands' unique blend of crypto-friendly regulations and discreet business practices, making it an attractive destination for companies seeking a low-profile presence.
SBI acquires Singaporean crypto platform Coinhako after MAS approval
SBI Holdings is acquiring a majority stake in Singapore-based crypto exchange Coinhako after receiving regulatory approval from the Monetary Authority of Singapore. The acquisition marks SBI's expansion into stablecoins, onchain finance, and tokenized assets, further solidifying its presence in the Asian market, where it aims to capitalize on growing demand for digital assets and related services.
Japan's SBI Group is building Asia's first cross-border digital asset empire
Japan's SBI Group is rapidly expanding its regional digital asset empire by consolidating Singapore-based Coinhako, marking Asia's first cross-border digital asset empire. This move includes a tokenization partnership with Ondo Finance, further solidifying SBI's presence in the region. The acquisition is expected to boost SBI's user base and expand its digital asset offerings.
Three Men Jailed for Posing as Police in $5.3M UK Crypto Fraud
Three men are currently being jailed for posing as police in a $5.3 million UK crypto fraud, where they built fake police websites to deceive victims and steal their cryptocurrency. The stolen funds were then spent on luxury items, including Rolexes and high-end holidays, according to the Metropolitan Police. This case highlights the growing threat of crypto-related scams.
HSBC wins Bank of England approval to enter Digital Securities Sandbox
HSBC Orion has secured Bank of England approval to enter the Digital Securities Sandbox, paving the way for the bank's entry into the digital securities market. The first Digital Gilt Instrument transaction is expected in the first quarter of 2027. This move is expected to boost innovation in the UK's financial sector, driving growth and adoption of digital securities.
Live markets: Bitcoin slips to $63,000 as the chip rout goes global
Bitcoin is slipping to $63,000 as a global selloff in chipmakers drags risk assets lower, reversing gains made after this week's soft inflation print. The chip rout is intensifying, with major players like Samsung and Taiwan Semiconductor experiencing sharp declines. This downturn is weighing heavily on global markets, impacting cryptocurrency prices and investor sentiment.
AI frenzy losing steam leaves bitcoin less volatile than South Korean stocks
The AI frenzy that fueled market volatility is losing steam, resulting in a relatively calm day for Bitcoin and South Korean stocks. Bitcoin's price is holding steady, with a slight 0.5% increase, while South Korean stocks are experiencing a 1.2% drop. This shift indicates a return to traditional market drivers, potentially benefiting Bitcoin's price stability.
Stablecoin growth will erode bank deposits, says ECB’s Cipollone
ECB's Piero Cipollone warns that stablecoin adoption will erode bank deposits, potentially shifting funds to decentralized platforms. He estimates this shift could be significant, with stablecoins already holding over $160 billion in reserves. However, Cipollone believes the digital euro will maintain a central role for banks in payments, mitigating the impact.
Morning Minute: Citadel Securities Invests $400M in Crypto.com
Citadel Securities is investing $400 million in Crypto.com, marking a significant convergence of Wall Street and crypto. This investment follows a week of gains for crypto majors, but broader markets are now selling off, causing most of those gains to be given back. The crypto market is experiencing a correction, weighing on investor sentiment.
Dutch court declares crypto platform Knaken bankrupt over missing funds
A Dutch court declares crypto platform Knaken bankrupt due to missing funds, necessitating an orderly settlement. The court ruled that the company lacks sufficient assets to fully repay users, prompting bankruptcy proceedings. This decision highlights the risks associated with investing in unregulated cryptocurrency platforms, potentially affecting investor confidence in the market.
Risk-off wave drags bitcoin below $63,000 as AI selloff spreads from stocks to crypto
Bitcoin plunges below $63,000 as a risk-off wave sweeps through markets, fueled by AI stock fatigue and escalating U.S.-Iran tensions. The crypto market's decline mirrors the tech sector's woes, with investors seeking safe-haven assets. A technical measure suggests oversold conditions, potentially setting the stage for a rebound heading into the weekend.
ESMA adds 14 new CASPs to MiCA register as licensing slows
ESMA currently adds 14 new Cloud and Software-as-a-Service (CASPs) providers to its MiCA register, bringing the total to 294. Banks and Ripple Payments Europe are among the new entries, reflecting growing adoption of digital services. This development underscores the increasing regulatory clarity and trust in the European fintech sector, supporting market growth and innovation.
Bitcoin Tests $63K as Long-Term Holders Keep Selling at a Loss
Bitcoin is currently testing the $63,000 level as long-term holders continue to sell at a loss, with approximately two-thirds of the coins moving onto exchanges being held by these investors. This trend is exacerbated by a macro risk-off environment, causing Bitcoin's price to decline. Market sentiment remains cautious, with investors wary of further losses.
UK sentences two hackers tied to $115M crypto ransom scheme
UK authorities sentence two hackers to undisclosed prison terms after they pleaded guilty to their involvement in a $115M crypto ransom scheme linked to the notorious Scattered Spider cybercrime group, which US prosecutors claim extorted dozens of companies worldwide, highlighting the growing threat of crypto-based cybercrime and its devastating financial impact on global businesses.