XRP surged over 3.5% to $1.1485, liquidating $2.93 million in shorts, after reports President Trump agreed to an ethics provision for the Clarity Act. This legislation, which would classify XRP as a digital commodity, is now closer to Senate passage before the August recess, boosting crypto market sentiment.
Bitcoin and the broader crypto market show signs of recovery, with BTC topping $67,000, driven by progress on US crypto legislation (CLARITY Act) and a potential shift of capital from a slowing AI-linked equities trade.
The White House agreed to ethics provisions in the Digital Asset Market Clarity (CLARITY) Act, potentially securing Democratic support for the crypto market structure bill in the Senate. The deal, reached with Republican Senators Lummis and Moreno, could impact former President Trump's crypto investments and comes as Bitcoin prices climb amid legislative talks.
Russia's State Duma approved a bill to establish a comprehensive framework for digital asset activity, regulating crypto exchanges, brokers, and asset managers. The legislation, which still requires further approvals, would allow crypto for foreign trade operations and is expected to be implemented by September 2026.
The London Stock Exchange plans to launch a night-time trading venue in the first half of 2027, operating from 5 pm to 7:50 am London time, to cater to increasing retail trader demand for exposure to UK and global assets.
Vietnam has issued Decree No. 284/2026/NĐ-CP, imposing administrative penalties up to 200 million Vietnamese dong for using unlicensed crypto platforms, unauthorized offerings, and AML violations. The decree takes effect September 1, aligning with the country's move towards a regulated crypto market.
Bitcoin's stabilization near $64,000, aided by ETF inflows, is threatened by rising oil prices due to US-Iran conflict disrupting the Strait of Hormuz, potentially reigniting inflation concerns. Concurrently, a $2.3 billion stablecoin reserve contraction on major exchanges and concentrated leveraged longs near $57,000 leave the market vulnerable to a sharper decline.
Crypto markets are consolidating after a CPI-driven rally, with Bitcoin and Ethereum seeing gains. XRP, however, underperformed, failing to break key resistance levels and facing uncertainty due to the delayed Clarity Act vote in the US Senate.
Hong Kong is positioning itself as a key hub for non-dollar financial activities, expanding yuan business facilities and bond connect quotas, and trialing a gold clearing system. This initiative aims to make yuan funding, gold settlement, and access to Chinese capital markets easier for institutions, offering an alternative to dollar-dominated systems.
Decentralized finance analytics platform Zapper announced it will cease operations on August 3rd, citing falling demand as the primary reason. The platform, which once served over 2 million monthly active users and processed billions in transactions, joins a growing list of crypto firms folding amid a market downturn and reduced venture capital funding.
The crypto market is in a rough state as July begins, with Bitcoin hovering in the low $60,000s and Ethereum below $1,750. Both assets have seen significant declines, and altcoins are performing even worse. Despite grim sentiment, historical patterns suggest potential for a rebound, though technical indicators present a mixed picture.
The US Senate has 20 working days to pass the CLARITY Act, a key crypto market-structure bill. Despite advancing through the House and Senate committees, the bill faces challenges over law enforcement language and ethics provisions tied to Donald Trump's crypto income, with a tight deadline before the August recess.
Kenya's Capital Markets Authority is seeking a blockchain analytics platform to monitor virtual assets, flag illicit activities like fraud and money laundering, and enforce compliance under the new Virtual Assets Service Providers Act. The tool will track Bitcoin, Ethereum, and over 20 other networks to support regulation of the country's growing crypto market.
EDX Markets, an institutional crypto exchange, secured $76 million in Series C funding led by SBI Holdings. The funds will support expansion of spot trading, clearing, settlement services, new product development, and international growth, signaling continued investor confidence in crypto market infrastructure.
Bitcoin's market dominance has fallen to a one-month low of 54%, while "Others" (excluding BTC, ETH, stablecoins) climbed to 24.68%. This shift is driven by altcoins with real protocol fees, buyback programs, or institutional integration, signaling a move away from broad "everything pumps" alt seasons.
Strategy sells $216M in BTC for treasury management, Bernstein predicts BTC to reach $150k by 2026, and crypto majors remain mostly flat.
Yield Guild Games is closing its crypto game publishing division, YGG Play, by Aug. 1 due to market downturns and industry struggles. The company will cut 35 jobs and pivot to supplying gaming-derived behavioral datasets for AI training, with a treasury of $20.6 million to fund the transition.
Major cryptocurrencies like Bitcoin and Ethereum are showing gains, with Bitcoin surpassing $62,000. This rebound occurs as crypto liquidations surge to $602 million, predominantly from short positions. The market reacts to mixed economic signals, including fewer-than-expected job additions in June.
Robinhood launched its "AI-native" Ethereum Layer-2, Robinhood Chain, enabling tokenized stocks for DeFi. Venice AI secured $65M at a $1B valuation, becoming a unicorn. Crypto majors saw significant gains, with SOL up 10%.
Anchorage Digital and Binance launch an off-exchange settlement platform for institutional clients. This allows trading on Binance while keeping crypto and cash in qualified custody at Anchorage, mitigating exchange counterparty risk.
On July 1, Europe's crypto market will undergo a significant reset as the MiCA transitional period ends, forcing unauthorized exchanges to cease operations or face restrictions. The effectiveness of this deadline hinges on app stores and how offshore platforms maintain accessibility to EU users, potentially leading to asset access issues and a shift in volume to licensed exchanges.
Cryptocurrency markets began Q3 2026 with reduced leverage and thinner liquidity following a wave of liquidations in Q2. Bitcoin and Ether long liquidations reached $8.35 billion, coinciding with ETF outflows and decreased buying demand.
Taiwan's Legislative Yuan has passed a new law establishing a regulatory framework for virtual asset service providers (VASPs) and stablecoins. The law requires VASPs to obtain licenses from the Financial Supervisory Commission (FSC) and stablecoin issuers to secure approval from the central bank and FSC, mandating sufficient reserves and audits. Violators face prison sentences and significant fines.
Long-term Bitcoin investors now hold a record 14.7 million BTC, a metric historically linked to market cycle lows. Swan Bitcoin CEO Cory Klippsten suggests this could mean an earlier bottom than previous cycles, contrasting with predictions of a late 2026 bottom.
