Daily digests
Crypto News Digest: July 31, 2026
The stories that moved crypto on July 31, 2026.
40 stories
All crypto news
Bitcoin holds monthly gain, faces 'choppy' August as 'forced-selling' exhausted, analysts say
Bitcoin holds its monthly gain despite a barrage of bad news, shrugging off concerns about rate hikes and jobs data. Analysts say 'forced-selling' has exhausted, but traders remain cautious as August approaches, anticipating a potentially 'choppy' market. Market volatility is expected to continue, with traders closely watching economic indicators and crypto price movements.
Coinbase’s Q2 miss sparks split on Wall Street, analysts debate growth beyond crypto trading
Coinbase's Q2 earnings miss sparks a split on Wall Street, with analysts debating the company's growth prospects. Multiple firms lower their price targets, citing disappointing revenue growth, but some remain optimistic about Coinbase's potential beyond crypto trading, seeing opportunities in emerging markets and new business segments, which could offset declining trading volumes.
US Is Banning Foreign Robots—Even Roombas
The US government is imposing new restrictions on foreign-made robots, blocking future models from receiving FCC approval due to national security concerns. National security agencies have warned that these robots could pose cybersecurity and supply chain risks. This move affects foreign-made robots, including popular models like Roombas, and connected power inverters, potentially impacting global robotics and electronics industries.
AI Music Company Suno Loses Copyright Case in Germany
A German court rules against AI music company Suno, deeming it must license copyrighted music used to train models and generate songs, a significant victory for music rights holders in Europe. This decision sets a precedent, potentially affecting the entire AI music industry, as companies will need to obtain licenses for copyrighted content, escalating costs and regulatory compliance.
Bank of Italy finds no consistent cost advantage for stablecoin remittances
Researchers at the Bank of Italy discover that stablecoin remittances do not consistently offer a cost advantage over traditional methods, with fiat conversion costs and payment infrastructure being the main contributors to differences in costs and settlement times, not blockchain fees, which are often cited as a benefit of stablecoin transactions in the global remittance market.
Bitcoin losses linked to Coldcard vulnerability grow to $70 million, Galaxy Research says
Galaxy Research reports nearly 1,200 addresses drained of over 1,000 BTC, worth roughly $70 million, linked to a Coldcard vulnerability. This significant loss is attributed to a security breach that exploited the hardware wallet's vulnerability, compromising user funds. The incident highlights the importance of secure wallet management in the cryptocurrency market.
Former Rep. George Santos agrees to pay $35,000 in CFTC settlement over Kalshi SOTU bet
Former Rep. George Santos agrees to pay $35,000 in CFTC settlement over Kalshi SOTU bet, resolving allegations of violating trading regulations. The settlement stems from trades made on Kalshi, a derivatives exchange, regarding the State of the Union address. This move highlights the CFTC's ongoing efforts to regulate crypto derivatives and prevent market manipulation.
Google Yanks Google Earth AI Image Tool a Day After Launch Over Deepfake Fears
Google is immediately removing its newly launched Nano Banana tool from Google Earth due to concerns over deepfake satellite images that can be generated from text prompts. This decision comes just one day after the tool's release, following warnings from investigators who rely on Google Earth to verify breaking news and atrocities, sparking fears of misinformation and manipulation.
Quantum Solutions, Hyperscale Data tap crypto treasuries to fund AI data centers
Quantum Solutions' board is raising the sale cap to 4,375 ETH by October 30, nearly 66% of its June holdings, to fund AI data centers in partnership with Hyperscale Data. This move allows the company to tap into its crypto treasuries, with 3,050 ETH still pledged, indicating a strategic shift towards AI infrastructure development.
New York sues Kalshi, alleges it offers a gambling platform 'plain and simple'
New York sues Kalshi, alleging it operates an unlicensed gambling platform 'plain and simple'. The lawsuit seeks to bar Kalshi from operating and demands financial redress. Kalshi offers derivatives trading with cryptocurrency, raising concerns about its compliance with New York's gambling laws. The suit's outcome may impact the crypto derivatives market's regulatory landscape.
Bitcoin, ether fall, equities rally with broader crypto market on track for best month in a year
Bitcoin and ether are experiencing declines as July comes to a close, with BTC falling despite stocks gaining in Asia and U.S. index futures advancing. The CoinDesk 20 index is on track to post its biggest gain since July 2025, a promising sign for the broader crypto market which is poised for its best month in a year.
Coldcard's $38 million (so far) exploit shakes faith in self-custody, may push investors to ETFs
A software bug in the Coldcard hardware wallet has led to the theft of nearly 600 bitcoin, worth approximately $38 million, raising concerns about security and the risks of self-custody. This exploit may push investors towards safer alternatives, such as cryptocurrency ETFs, as they reassess the security implications of managing private keys.
The good and the bad of perps, according to crypto traders
Crypto traders are weighing the pros and cons of perpetual swaps, also known as perps. Retail traders are concerned about the funding rate, which can be costly if they're on the wrong side of the market.
Tether’s excess reserves fall by more than $4 billion amid weaker Q2 financial results
Tether's excess reserves have fallen by more than $4 billion, a significant decline from previous levels, following weaker Q2 financial results. The company swung from a $4.9 billion net profit in Q2 2025 to a $1.5 billion net operating loss in the second quarter of this year, raising concerns about its financial stability.
Tether posts $1.5 billion operating profit in Q2 as reserve buffer falls by half
Tether is posting a $1.5 billion operating profit in Q2, driven by increased demand for its stablecoin. The company added 14 metric tons of gold and about 1,800 bitcoin to its reserves during the second quarter. This significant reserve growth is expected to bolster investor confidence in Tether's stability, potentially benefiting the broader cryptocurrency market.
Pump.fun laid off workers before they received millions in PUMP tokens: Report
Pump.fun is facing controversy after reportedly laying off workers before distributing millions of PUMP tokens, a new cryptocurrency. Co-founder Noah Tweedale attributed the layoffs to the company's rapid growth. The exact number of laid-off employees is unclear, but the move has raised concerns about the company's priorities and treatment of staff, potentially damaging its reputation in the crypto industry.
Traders brace for an August crypto pull-back as protection against $60,000 bitcoin dip becomes top trade
Traders are bracing for a potential August crypto pull-back as protection against a $60,000 bitcoin dip becomes a top trade. Market participants are hedging against a possible correction, with some analysts predicting a 10% decline in the coming months.
U.S. sanctions Iran-linked bitcoin insurance scheme for Strait of Hormuz ships
The U.S. Treasury Department is sanctioning the Hormuz Safe platform, which allegedly accepted bitcoin and other digital assets as part of an Iran-linked sanctions workaround tied to IRGC-backed shipping controls, targeting ships passing through the Strait of Hormuz. The platform's activities are being targeted, with implications for global cryptocurrency regulation and compliance.
World Cup bets smash records as prediction markets hit $20 billion in volume
Prediction markets are shattering records with World Cup bets reaching $20 billion in volume, as enthusiasts wager on everything from the tournament winner to Cristiano Ronaldo's emotional response to Portugal's elimination, with his tears indeed being a reality, fueling a surge in engagement and revenue for the prediction market industry, expected to continue growing exponentially.
Quantum computing nears commercial breakthrough, IBM CEO says
Arvind Krishna, IBM CEO, states that quantum computing will soon generate meaningful revenue, with investment in the sector accelerating. He expects this breakthrough to occur before the decade ends, as companies increasingly adopt the technology. This development could significantly impact various industries, including finance, healthcare, and cybersecurity, driving growth and innovation in the global market.
Bybit adds tokenized Nvidia, Apple, Tesla stocks as loan collateral
Bybit is adding tokenized shares of Nvidia, Apple, Tesla, and three other US companies as loan collateral options for retail and institutional users. Eligible users can utilize these tokenized shares across Bybit's trading and lending products. This move aims to increase user participation and liquidity in the platform's lending market, potentially driving growth in the decentralized finance (DeFi) sector.
Tether earns $1.5B in Q2 as US Treasury holdings fuel profits
Tether's reserve surplus grows to $4.11 billion in Q2 as USDT supply increases, fueled by US Treasury holdings that yield $1.5 billion in profits. Despite a weaker stablecoin market and pressure across the crypto sector, Tether's strong financials suggest resilience in the face of market volatility, potentially benefiting the broader cryptocurrency ecosystem as a trusted store of value.
World Cup 2026 prediction markets topped $20 billion, with Ronaldo tears among the biggest wagers
Prediction markets for the World Cup 2026 have surpassed $20 billion, with bettors placing large wagers on various outcomes, including match results and player performances. Major knockout matches have seen a significant surge in betting activity, with markets ranging from simple match outcomes to more specific player-specific outcomes, such as Cristiano Ronaldo's performance.
Ex-FTX users report funds being released in $900M distribution round
Distribution agents are releasing funds to reimburse Ex-FTX users, with some reporting receipt of their $900M distribution. This marks a significant step towards compensating creditors for their 2022 losses. The development brings relief to affected users, potentially stabilizing their financial situations, and may also boost confidence in the crypto market's ability to resolve high-profile disputes.
Tether Reports $1.5B Q2 Profit as USDT Supply Grows, Gold Holdings Rise
Tether reports a $1.5 billion Q2 profit as USDT supply grows, with a significant increase in gold holdings, now exceeding 146 metric tons. The attestation also reveals the stablecoin's backing assets, including U.S. Treasuries and repo agreements, solidifying Tether's position as the largest stablecoin in the market, boosting investor confidence in the crypto space.
Analysts back Strategy’s cash buildup as Saylor shifts from ‘100% bitcoin’ approach
Analysts TD Cowen and Benchmark reaffirm their buy rating on Strategy after the company's $8.2 billion Q2 loss and a corporate STRC-to-par push, which suggests a shift from its previous '100% bitcoin' approach led by CEO Michael Saylor.
Dubai-based crypto exchange tied to $4 billion Iran sanctioned-evasion network
Dubai-based crypto exchange Shelbit is tied to a $4 billion Iran sanctioned-evasion network, allegedly sending hundreds of millions of dollars to major exchanges like Binance. This illicit activity linked Iranian entities to global crypto markets through gambling sites, blurring the lines between legitimate and illicit transactions, raising concerns about the industry's vulnerability to sanctions evasion and money laundering.
Circle secures NYDFS trust charter, adding state layer to federal USDC oversight
Circle secures a limited-purpose trust charter from the New York Department of Financial Services for Circle Internet Trust Company, adding a state layer to federal oversight of USDC. This follows final approval from the Office of the Comptroller of the Currency. The charter enhances regulatory compliance and stability for Circle's USDC stablecoin.
RWA perps will outpace tokenization
Martin Lee, markets insight lead at DWF labs, predicts that perpetual swaps, or perps, will outpace tokenization in adoption by traditional finance institutions. Tokenization, a key concept in crypto, has already been exported to TradFi. Perps are gaining traction, offering a more accessible and liquid alternative to traditional derivatives, potentially disrupting the financial landscape further.
Crypto faces 3 barriers to next bull run, STS Digital CEO says
Crypto faces three significant barriers to its next bull run, with STS Digital CEO Maxime Seiler citing institutional options selling, AI-driven market manipulation, and delayed U.S. crypto regulation as major concerns. These factors are weighing heavily on bitcoin, with Seiler warning that a prolonged period of market volatility may be ahead, potentially stifling investor confidence and hindering the industry's growth.
Uniswap launches ‘Earn’ with Morpho to let users earn yield on idle crypto assets
Uniswap is launching Earn in partnership with Morpho, allowing users to earn yield on idle crypto assets via Gauntlet-curated vaults. This new lending product aims to provide a secure and efficient way for users to generate passive income. The integration is expected to boost Uniswap's offerings, further solidifying its position as a leading decentralized exchange.
XDC AI and the Rise of Agentic Finance: When AI Agents Learn to Pay
AI agents are rapidly evolving from providing financial advice to executing transactions, necessitating the development of a new payment infrastructure to accommodate their capabilities. This shift is expected to enable seamless, autonomous financial interactions, with some estimates suggesting a 30% increase in AI-driven transactions by 2027, potentially disrupting traditional payment systems and revolutionizing the financial industry.
US Treasury Sanctions Iranian Firms Taking Bitcoin for Hormuz Passage
The US Treasury's Office of Foreign Assets Control (OFAC) is sanctioning two Iranian firms, including Hormuz Safe, which accepts payment in Bitcoin and other digital assets, for facilitating the Hormuz Strait passage. The sanctions target entities involved in Iran's oil trade, impacting global oil prices and further straining US-Iran relations.
Circle Lands New York Trust Charter as Stablecoin Issuer Expands Regulatory Footprint
Circle secures a New York trust charter as a stablecoin issuer, expanding its regulatory footprint weeks after winning federal approval to establish a national trust bank. This adds another license to Circle's growing list of regulatory approvals, further solidifying its position as a leading stablecoin issuer. The move is expected to boost USDC adoption.
Bitcoin price sinks to 2-week lows as US stocks fail to copy Asia rebound
Bitcoin's price plummets to 2-week lows as US stocks stagnate, failing to replicate Asia's relief bounce at the end of the month. This divergence signals a widening gap between global markets, with Bitcoin's price falling in tandem with the lackluster US stock performance. Market sentiment remains cautious, weighing on cryptocurrency prices.
US Treasury yields rise as TIPS challenge the inflation narrative
US Treasury yields are rising, signaling a shift in the inflation narrative as TIPS data suggests real yields are increasing, not inflation. This dynamic weighs heavily on non-yielding assets like Bitcoin, which is likely to experience downward pressure as investors seek higher returns elsewhere, potentially impacting cryptocurrency markets and overall investor sentiment.
TD Cowen cuts Sharplink price target to $13 on lower 2026 ether outlook
TD Cowen is cutting Sharplink's price target to $13 due to a revised 2026 ether forecast, but maintains its long-term Ethereum investment thesis. This adjustment reflects a more cautious outlook for ether's growth, potentially impacting Sharplink's valuation. The reduced target may influence investor decisions, but the long-term thesis remains intact, supporting Ethereum's continued adoption and development.
BOJ intervenes to defend yen near 160, holds rates steady
The Bank of Japan is intervening in the foreign exchange market to defend the yen, which has crossed a key psychological level near 160 against the US dollar. This move is reportedly a major currency intervention, with exact details still unclear.
Coinbase's weak quarter leaves Wall Street split on timing of a recovery
Coinbase's latest quarter shows a significant earnings miss, with analysts pointing to a weak crypto market as the primary cause. Opinions vary on when trading activity will rebound, with some predicting a swift recovery and others anticipating a longer-term turnaround. Market sentiment remains uncertain, awaiting a catalyst for a potential crypto market revival.
Circle receives New York trust charter for subsidiary
Circle receives New York trust charter for its subsidiary, enabling it to offer fiduciary and custody services under state banking law. This charter allows Circle's subsidiary to manage and safeguard digital assets, expanding its offerings to institutional clients.