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Swiss digital asset bank AMINA partners with Cantor to evaluate listing path, current focus is strategic growth financing
According to CoinDesk, Swiss digital asset bank AMINA is partnering with Wall Street firm Cantor to evaluate potential listing options. Sources familiar with the matter said the company had explored paths such as mergers with special purpose acquisition companies, but currently favors entering the public market through a reverse acquisition by a digital asset treasury company. However, AMINA stated that relevant discussions are still ongoing and no final decision has been made; the core goal at this stage is to raise capital to support strategic growth, rather than pushing for a rapid listing.
Institutional Crypto Trading Platform LMAX Explores Sale or IPO, Valuation Could Reach $5 Billion
According to CoinDesk, institutional crypto trading platform LMAX Group is evaluating strategic options with Morgan Stanley and investment bank KBW, including a sale, a merger with a special purpose acquisition company, and an initial public offering in the US or Europe. Sources say the company's valuation could reach up to $5 billion, with a Nasdaq listing currently the preferred option.
Crypto market maker B2C2 has been in contact with multiple potential buyers over the past 18 months, seeking a valuation of over $1 billion
According to CoinDesk, citing sources familiar with the matter, cryptocurrency market maker B2C2, 90% owned by Japan's SBI Holdings, has held discussions with multiple potential acquirers regarding a partial or full sale over the past 18 months.
B2C2 seeks valuation over $1 billion, has held talks with multiple potential acquirers over the past 18 months
B2C2, a crypto market maker in which SBI Holdings holds a 90% stake, has been in acquisition negotiations with multiple potential acquirers over the past 18 months. The negotiations have been impacted by valuation differences. B2C2 is seeking a transaction price exceeding $1 billion, which one source familiar with the matter said is difficult to achieve in the current crypto market environment. These talks have taken place against the backdrop of consolidation in the digital asset industry, as several companies seek to expand their institutional businesses and increase scale through acquisitions.
Bitcoin Treasury Companies Shift Strategy: Selling BTC, Repaying Debt, and Betting on AI as Stock Plunges Force Strategic Pivot
Odaily News As Bitcoin prices have experienced a significant correction, publicly listed companies that had accumulated large BTC holdings are facing multiple challenges, including falling stock prices, debt pressures, and a deteriorating financing environment. Some of these companies are now starting to sell Bitcoin, repay debts, and even pivot towards artificial intelligence (AI) data center operations.Strategy pioneered the "Digital Asset Treasury (DAT)" model, continuously purchasing Bitcoin through financing and borrowing, inspiring a wave of other listed companies to follow suit. However, as the BTC price has fallen approximately 50% from its peak of around $126,000 in October 2025, the stock prices of related companies have also shrunk significantly, forcing them to reassess their BTC accumulation strategies.This week, shareholders of London-listed company Satsuma Technology approved the liquidation of all 668 BTC, returning capital to shareholders, while proceeding with delisting. Another London-listed company, The Smarter Web Company, sold 178 BTC to repay its convertible debt.Additionally, Sequans Communications has sold 1,025 BTC and further sold nearly 80% of its remaining holdings to repay convertible bonds. The company stated it will not continue purchasing Bitcoin in the future and plans to sell the remaining approximately 658 BTC.Nakamoto's stock price has fallen approximately 99% since its SPAC listing in May 2025. The company recently sold about 284 BTC, raising approximately $20 million for working capital. Of its remaining approximately 5,342 BTC, nearly 70% has been pledged as collateral for loans from Kraken, which market observers believe poses a potential risk event.Meanwhile, Bitcoin mining companies are also adjusting their strategies. Companies like Bitdeer Technologies and MARA Holdings are selling portions of their BTC to repurchase shares, repay debts, and redirect energy resources and computing infrastructure towards AI data center operations.Other companies selling BTC include Empery Digital. Data shows that Strategy has recently sold approximately 3,620 BTC and has authorized further asset sales to maintain its U.S. dollar reserves.However, Strategy remains the world's largest corporate holder of Bitcoin, with holdings exceeding 840,000 BTC. The company's CEO, Michael Saylor, stated that while it may sell some Bitcoin in the future to pay dividends, this does not mean the company is exiting its Bitcoin investment.Beyond asset adjustments, management and capital operations at some Bitcoin treasury companies are also changing. Jack Mallers has stepped down as CEO; and Bitcoin Standard Treasury Company (BSTR), affiliated with Adam Back, failed to complete a proposed merger due to the deteriorating market environment.Analysts believe that with rising financing costs and increased BTC price volatility, the "borrowing to buy Bitcoin" treasury model is undergoing a reshuffle. Some companies are shifting from simply hoard
Crypto bank Augustus completes $180 million funding round at $1 billion valuation
crypto bank Augustus announced the completion of a $180 million funding round, bringing the company's valuation to $1 billion. The company aims to build a 24/7 financial infrastructure that connects traditional payment systems with stablecoin networks. The round was led by Tiger Global Management, with participation from investors including Hummingbird, QED, and the founding teams of Nubank, Ramp, Circle, and Deel.Augustus stated that as stablecoins gradually transform the global financial system, the traditional Correspondent Banking model is facing efficiency bottlenecks. The company aims to establish a federally chartered clearing bank for fintech companies and financial institutions, replacing traditional cross-border payment infrastructure.Unlike stablecoin issuers, Augustus does not plan to issue its own stablecoin. Instead, it aims to provide underlying banking infrastructure, enabling financial institutions to freely transfer funds between traditional payment networks and blockchain networks. Currently, Augustus offers euro clearing services through its regulated Finnish entity, processing tens of billions of euros in transactions annually. Its clients include international financial institutions, fintech companies, banks, and crypto firms, including crypto exchange Kraken. (CoinDesk)
Coinbase Canada's New CEO: Committed to Building "One-Stop Financial Exchange," Calls for Regulatory Framework to Shift from Temporary Exemptions to Legislative Normalization
According to CoinDesk, Coinbase Canada's new CEO Eric Richmond stated at the Toronto Blockchain Futurist Conference that Coinbase aims to become Canada's "all-in-one exchange," fully introducing products such as derivatives, decentralized finance (DeFi), and tokenized assets into the Canadian market to achieve "24/7, seamless, frictionless" one-stop financial services.
BNY Migrates $8.6 Trillion Transfer Agency Business to Blockchain
According to CoinDesk, the world's largest custodian bank, The Bank of New York Mellon (BNY), announced it will migrate its transfer agent core bookkeeping business to the blockchain, involving approximately $8.6 trillion in assets and 7.6 million accounts, aiming to establish a single on-chain ownership ledger and reduce reliance on multi-layer intermediaries. BNY client Baillie Gifford (managing over $261 billion) will be the first to use the service, launching the UK's first fully locally regulated tokenized fund, while BlackRock and its money market business Dreyfus also plan to follow suit. BNY stated that existing traditional systems will continue to run in parallel, with trillions of dollars in funds remaining on the traditional track in the short term.
Kalshi, Polymarket Granted Federal Court Preliminary Injunction, Minnesota Prediction Market Ban Suspended
According to CoinDesk, U.S. District Court Judge for the District of Minnesota Katherine Menendez ruled on July 28 local time that the Minnesota state law criminalizing the operation of prediction markets likely violates the federal Commodity Exchange Act (CEA), and granted a preliminary injunction to Kalshi, Polymarket, and the U.S. Commodity Futures Trading Commission (CFTC) to suspend the enforcement of the state law. The judge held that prediction market contracts structurally fall under 'swap' products within the CFTC's regulatory scope, federal law takes precedence over state law, and the three plaintiffs are 'likely to prevail in the formal trial'. Additionally, the judge noted that failing to suspend the enforcement of the law would cause 'irreparable harm' to Kalshi and Polymarket. The preliminary injunction will remain in effect until the final judgment of the case is issued.
Fanatics to Acquire BGC’s Regulated Exchange and Clearing House, Launching Prediction Market Business
sports merchandise and betting platform Fanatics will acquire a federally regulated exchange and clearing house from BGC to launch and settle its own prediction market operations. Fanatics and BGC also plan to develop new market data products that combine prediction market activity with traditional financial market data. This deal enables Fanatics to enter the prediction market space, competing directly with platforms such as Kalshi and Polymarket.
The new draft of the CLARITY Act has been officially released, adding ethical clauses for the first time.
According to CoinDesk, the new draft of the CLARITY Act has been officially released. This draft merges the two versions from the Senate Banking Committee and the Agriculture Committee and includes ethics provisions for the first time. Voting procedures are expected to commence this Monday or Tuesday, with the formal vote potentially taking place as early as the week of August 3.
POSCO International partners with LG CNS to pilot trade receivables tokenization on the Injective blockchain
According to CoinDesk, South Korea's largest trading company POSCO International is collaborating with LG CNS, a technology subsidiary under the LG Group, to pilot the tokenization of real trade accounts receivable on the Layer-1 blockchain Injective. The project aims to accelerate commercial payment processes among POSCO's global subsidiaries by placing accounts receivable on-chain, building a single ledger shared by buyers, sellers, and banks, enabling compliance rules to flow synchronously with assets, and is expected to significantly compress the traditional reconciliation cycle that typically takes several days. POSCO International reported revenue of $22.2 billion last year, with operations covering steel, energy, and battery materials, among other fields.
Bitcoin Treasury Companies Shift Strategy: Selling BTC, Repaying Debt, and Betting on AI as Stock Plunges Force Strategic Pivot
Odaily News As Bitcoin prices have experienced a significant correction, publicly listed companies that had accumulated large BTC holdings are facing multiple challenges, including falling stock prices, debt pressures, and a deteriorating financing environment. Some of these companies are now starting to sell Bitcoin, repay debts, and even pivot towards artificial intelligence (AI) data center operations.Strategy pioneered the "Digital Asset Treasury (DAT)" model, continuously purchasing Bitcoin through financing and borrowing, inspiring a wave of other listed companies to follow suit. However, as the BTC price has fallen approximately 50% from its peak of around $126,000 in October 2025, the stock prices of related companies have also shrunk significantly, forcing them to reassess their BTC accumulation strategies.This week, shareholders of London-listed company Satsuma Technology approved the liquidation of all 668 BTC, returning capital to shareholders, while proceeding with delisting. Another London-listed company, The Smarter Web Company, sold 178 BTC to repay its convertible debt.Additionally, Sequans Communications has sold 1,025 BTC and further sold nearly 80% of its remaining holdings to repay convertible bonds. The company stated it will not continue purchasing Bitcoin in the future and plans to sell the remaining approximately 658 BTC.Nakamoto's stock price has fallen approximately 99% since its SPAC listing in May 2025. The company recently sold about 284 BTC, raising approximately $20 million for working capital. Of its remaining approximately 5,342 BTC, nearly 70% has been pledged as collateral for loans from Kraken, which market observers believe poses a potential risk event.Meanwhile, Bitcoin mining companies are also adjusting their strategies. Companies like Bitdeer Technologies and MARA Holdings are selling portions of their BTC to repurchase shares, repay debts, and redirect energy resources and computing infrastructure towards AI data center operations.Other companies selling BTC include Empery Digital. Data shows that Strategy has recently sold approximately 3,620 BTC and has authorized further asset sales to maintain its U.S. dollar reserves.However, Strategy remains the world's largest corporate holder of Bitcoin, with holdings exceeding 840,000 BTC. The company's CEO, Michael Saylor, stated that while it may sell some Bitcoin in the future to pay dividends, this does not mean the company is exiting its Bitcoin investment.Beyond asset adjustments, management and capital operations at some Bitcoin treasury companies are also changing. Jack Mallers has stepped down as CEO; and Bitcoin Standard Treasury Company (BSTR), affiliated with Adam Back, failed to complete a proposed merger due to the deteriorating market environment.Analysts believe that with rising financing costs and increased BTC price volatility, the "borrowing to buy Bitcoin" treasury model is undergoing a reshuffle. Some companies are shifting from simply hoard
Mizuho Bank downgrades Circle rating to "Underperform", target price halved to $50
According to CoinDesk, Japanese investment bank Mizuho has downgraded stablecoin issuer Circle (CRCL) from "Neutral" to "Underperform," with the price target significantly lowered from $85 to $50. Circle's stock price subsequently fell 0.6% to $62.63. Mizuho analysts pointed out that the OpenUSD stablecoin launched by the Open Standard consortium on June 30 poses a fundamental threat to Circle's business model. Unlike the USDC model, which retains most reserve yield and then shares it with partners such as Coinbase and Binance, OpenUSD charges only a small operating fee and distributes the vast majority of reserve yield to issuers and distributors, which may force Circle's partners to demand a higher revenue share. The consortium has assembled over 140 partners, including Mastercard, Stripe, Coinbase, and BlackRock.
BTC approaches the $58,000 power law support line, which has marked the bottom of each cycle since 2015
According to Odaily, BTC is approaching the lower support line of the long-standing power law price model, approximately $58,000, indicating it is nearing a historical accumulation zone. Bitcoin's undervaluation relative to its trend line and to gold has dropped to levels seen at the bottoms of 2018 and 2022, but Fidelity's Jurrien Timmer has not yet declared it to have bottomed.Timmer expects that, in the absence of a liquidity catalyst, Bitcoin may trade sideways near the support level for several months. He noted that speculative capital has rotated from Bitcoin into gold and is now flowing into semiconductor stocks. (CoinDesk).
BTC and ETH Centralized Exchange Balances Hit Multi-Year Lows
Bitcoin and ether balances on centralized exchanges have fallen to multi-year lows. Analysts indicate that as a large amount of crypto assets have shifted to institutional custody, ETFs, DeFi protocols, and other on-chain uses, the reliability of this metric as a price signal has declined. At the same time, an increasing amount of Bitcoin and ether is being locked up by companies seeking long-term price appreciation. (CoinDesk).
SpaceX Moves Bitcoin for First Time in Six Months, Sparking Attention, But On-Chain Data Shows No Signs of Selling
according to Arkham Intelligence monitoring, SpaceX recently conducted Bitcoin wallet activity for the first time in approximately six months. However, the transfers were extremely small in scale, and no BTC was sent to exchange addresses, indicating that the company is not selling Bitcoin.Data shows that three transfers were made from SpaceX-related wallets. The largest was 0.00213 BTC, valued at approximately $135; another transfer was 0.00139 BTC, worth about $89. Additionally, the Coinbase Prime custody service replenished 0.000738 BTC, worth around $47, to a SpaceX address, likely to cover on-chain transaction fees.Currently, SpaceX still holds approximately 18,712 BTC, with a total value of about $1.16 billion. Analysts believe that such small transfers are typically wallet maintenance operations, such as replenishing Gas fees, consolidating address funds, or testing signing processes, rather than typical asset-selling behavior.SpaceX completed its IPO on June 12, becoming one of the largest IPOs in history, and disclosed its Bitcoin holdings in a public filing for the first time. Previously, Arkham Intelligence could only track approximately 8,285 BTC belonging to SpaceX, but the company's disclosed holding of 18,712 BTC is more than twice the amount previously identified on-chain. According to the disclosure, SpaceX's Bitcoin purchase cost was approximately $661 million, with an average cost of about $35,000 per BTC.Six to seven months prior, SpaceX wallets had conducted a larger transfer, where the company moved approximately 1,000 BTC in batches between its own wallets and the Coinbase Prime custody address. However, that transfer similarly did not send funds to exchanges.Currently, Elon Musk's companies SpaceX and Tesla collectively hold over 30,000 BTC. The market generally believes that only if SpaceX transfers Bitcoin to known exchange deposit addresses in the future could it potentially signal an adjustment to its BTC treasury strategy or a potential sale. (CoinDesk)
SpaceX IPO Quiet Period Ends, Wall Street Firms Upgrades Ratings in Rapid Succession
as the 25-day quiet period following SpaceX's (SPCX) June IPO comes to an end, Wall Street analysts have begun releasing formal research reports. Multiple major brokerages have issued favorable ratings, indicating institutional investors remain optimistic about the company's long-term growth potential.As IPO underwriters, both Goldman Sachs and Morgan Stanley have assigned buy-equivalent ratings to SpaceX. Goldman Sachs analyst Eric Sheridan set a price target of $205, while Morgan Stanley analyst Adam Jonas gave a target of $300. Additionally, institutions such as Bank of America, Citigroup, Deutsche Bank, JPMorgan, and UBS have also initiated coverage with buy or equivalent ratings. Among them, Raymond James Financial provided the most optimistic forecast; analyst Brian Gesuale initiated coverage of SpaceX with a "Strong Buy" rating and a price target as high as $800, believing SpaceX will become "one of the most representative industrial infrastructure companies of the 21st century."Analysis suggests that market optimism towards SpaceX is primarily based on its布局 (layout/foundation) in areas such as rocket launches, Starlink satellite internet, and government contracts. At the same time, the company's communications business can provide a sustainable source of revenue and support future expansion of launch scale.As of March 31, 2026, SpaceX holds 18,712 Bitcoins. Wall Street believes that the concentrated coverage following the end of the IPO quiet period provides a window for institutional investors to conduct their first systematic assessment of SpaceX's valuation. The fact that nearly all major institutions simultaneously issued positive ratings is relatively rare for large-scale IPOs. (CoinDesk)
Cryptocurrency May Become Primary Target of Quantum Computing Attacks, Governance Speed Poses Greatest Risk
According to CoinDesk, Eddy Zervigon, CEO of quantum computing security infrastructure company Quantum Xchange, stated that cryptocurrencies, due to their decentralized nature, will become the "canary in the coal mine" for quantum computing attacks—that is, the area where vulnerabilities will be exposed first. Latest assessments by Google researchers show that the number of physical qubits required to break Bitcoin's elliptic curve encryption has decreased 20-fold compared to previous estimates, and multiple institutions have brought forward the expected date of "Q-Day" (the day quantum computers can break existing encryption systems) to 2029. Deutsche Digital Assets pointed out that the real risk lies not in the encryption technology itself, but in the speed of governance—Bitcoin upgrades require 90% miner consensus, which has historically triggered hard forks (such as the 2017 SegWit upgrade leading to the birth of Bitcoin Cash), whereas traditional financial institutions only need a board resolution to complete encryption infrastructure migration. Additionally, experts caution that the quantum threat is not a binary event that "arrives suddenly on a certain day"; even if quantum computers require months to crack data, as long as the cracking is completed while the data is still valuable, the threat is established.
Cardano wallet SecondFi announces shutdown after hack attack
According to CoinDesk, the Cardano wallet SecondFi was attacked due to a vulnerability in its transaction signing software. A total of 16.1 million ADA (approximately $2.4 million) across 374 wallets was stolen, and the platform has announced permanent closure. The vulnerability allowed attackers to derive private keys from transaction data visible on-chain. The Cardano network itself was not affected, nor were hardware wallet users. An investigation by Groom Lake, a blockchain intelligence company hired by EMURGO, revealed that the primary attackers were sophisticated and well-funded. Some indications point to North Korea's Lazarus Group, but this has not yet been officially confirmed. SecondFi plans to release a wallet export tool in early August and launch a zero-knowledge recovery portal later in the month. EMURGO has established an asset recovery wallet, with the specific distribution time to be determined.
Algorithmic Stablecoin Balance Coin Suffers Oracle Attack, Plummets 99%
According to CoinDesk reports, algorithmic stablecoin Balance Coin suffered an oracle price manipulation attack on July 22. The coin price plummeted from near the $1 peg to about $0.0014, a drop of over 99%, and the nominal market cap of about $3.5 million nearly went to zero. According to analysis by security firm SlowMist, the attacker fed abnormally low false Bitcoin prices into the protocol, bypassing price rationality checks and liquidation delay mechanisms. They forcibly liquidated multiple ineligible collateral vaults in a single transaction, subsequently exchanged the acquired collateral for arbitrage, and ultimately profited about $912,000 from the protocol governance entity 42DAO.
Ethereum Foundation: AI Discovers Vulnerability That Could Cause Validator Nodes to Go Offline, But Manual Verification Still Required
According to CoinDesk, the Ethereum Foundation recently disclosed that its security team used AI agents to test the software running on Ethereum validator nodes and successfully discovered a vulnerability that could be triggered remotely, causing node crashes. However, researchers emphasized that amidst the large volume of security reports generated by AI, manual review remains a key step in distinguishing real vulnerabilities from false positives. Reportedly, the vulnerability discovered resides in the Ethereum network message propagation protocol gossipsub, where attackers can remotely trigger the node software into an abnormal computation state, causing the program to crash and shut down, taking the validator node offline until the operator manually restarts it. The vulnerability has been fixed and registered under the number "CVE-2026-34219". Nikos Baxevanis, a member of the Ethereum Foundation Protocol Security Team, stated that the truly surprising aspect of this incident was not the AI's ability to discover vulnerabilities, but the significant amount of time the team spent distinguishing which vulnerabilities were real and which were merely plausible "hallucinations".
Serious Vulnerability Exposed on Aptos Blockchain, $70 Billion in Assets Once Faced Systemic Risk
According to CoinDesk, researchers at blockchain security company Hexens discovered an "expired cache" type confusion vulnerability in the Aptos blockchain Move virtual machine. Attackers require only about $3,000 in server costs to launch attacks in a simulated environment with a success rate of nearly 90%, without needing validator privileges or internal knowledge. Researchers ran approximately 20 attacks in simulated tests, succeeding 17-18 times, and verified the potential ability to control management permissions of cross-chain protocols such as LayerZero, Wormhole, and USDC CCTP. Hexens assessed that the vulnerability directly threatens protocols on the Aptos chain such as DeFi, stablecoins, and liquid staking, involving assets in the low single-digit billions of dollars; if spread through paths such as cross-chain bridges, stablecoin minting, and centralized exchanges, the systemic risk exposure could reach up to $70 billion. The Aptos team completed the fix and deployed it to the mainnet within hours after receiving the vulnerability report on February 25, and currently no user funds have been compromised.
Ukraine Seizes $8.3 Million in Crypto Assets, Potentially Paving the Way for a Strategic Crypto Reserve
OdailyOdaily reports that the Prosecutor General's Office of Ukraine stated it has, for the first time, transferred approximately $8.3 million worth of USDT crypto assets into the national asset management system, marking the country's first official takeover of seized crypto assets. The funds originate from an investigation into an international hacking group, which is alleged to have laundered money through high-value real estate and other assets. The assets were received by the Asset Recovery and Management Agency (ARMA) of Ukraine, with the transfer completed pursuant to a court order.Officials stated that this operation marks a significant step for Ukraine in the regulation and management of crypto assets, and aligns with ongoing discussions regarding the establishment of a strategic crypto reserve. Previous data indicates that Ukraine ranked among the top in Europe in terms of crypto transaction volume between 2024 and 2025.However, the relevant assets are currently in a "custodial" state and have not been legally forfeited; subsequent judicial conviction procedures are still required. Analysts believe that the mechanism of this move is similar to the path of the United States using criminally forfeited crypto assets to build a potential strategic reserve. (CoinDesk)
BIS-Led Project Agorá Completes Million-Dollar Cross-Border Tokenized Payment Test
According to CoinDesk, Project Agorá, led by the Bank for International Settlements (BIS), recently completed a cross-border payment test with real funds. Participants included 28 commercial banks such as JPMorgan Chase, Citigroup, UBS, Deutsche Bank, and Standard Chartered, as well as five central banks. The test processed approximately $1 million (about 800,000 Swiss francs) in real transactions, covering six currencies: the US dollar, euro, pound sterling, Japanese yen, Swiss franc, and South Korean won. The test utilized tokenized central bank reserves and commercial bank deposits, settling funds on a shared ledger with an average settlement time of about 80 seconds. Unlike traditional cross-border payments that require intermediation by multiple correspondent banks, the platform achieved shared single ownership records and supports synchronized settlement of bilateral foreign exchange, effectively reducing principal risk. The BIS stated that the platform can operate in parallel with existing payment systems, rather than replacing them.
Swiss digital asset bank AMINA partners with Cantor to evaluate listing path, current focus is strategic growth financing
According to CoinDesk, Swiss digital asset bank AMINA is partnering with Wall Street firm Cantor to evaluate potential listing options. Sources familiar with the matter said the company had explored paths such as mergers with special purpose acquisition companies, but currently favors entering the public market through a reverse acquisition by a digital asset treasury company. However, AMINA stated that relevant discussions are still ongoing and no final decision has been made; the core goal at this stage is to raise capital to support strategic growth, rather than pushing for a rapid listing.
Lido launches large-scale Ethereum staking consolidation upgrade, expected to reduce the number of Ethereum validators by approximately one-third
According to CoinDesk, Lido has launched its largest upgrade since V2, planning to integrate more than 8 million staked ETH, valued at approximately $16.5 billion, into the new validator architecture following the Ethereum Pectra upgrade.
The new draft of the CLARITY Act has been officially released, adding ethical clauses for the first time.
According to CoinDesk, the new draft of the CLARITY Act has been officially released. This draft merges the two versions from the Senate Banking Committee and the Agriculture Committee and includes ethics provisions for the first time. Voting procedures are expected to commence this Monday or Tuesday, with the formal vote potentially taking place as early as the week of August 3.
Cryptocurrency May Become Primary Target of Quantum Computing Attacks, Governance Speed Poses Greatest Risk
According to CoinDesk, Eddy Zervigon, CEO of quantum computing security infrastructure company Quantum Xchange, stated that cryptocurrencies, due to their decentralized nature, will become the "canary in the coal mine" for quantum computing attacks—that is, the area where vulnerabilities will be exposed first. Latest assessments by Google researchers show that the number of physical qubits required to break Bitcoin's elliptic curve encryption has decreased 20-fold compared to previous estimates, and multiple institutions have brought forward the expected date of "Q-Day" (the day quantum computers can break existing encryption systems) to 2029. Deutsche Digital Assets pointed out that the real risk lies not in the encryption technology itself, but in the speed of governance—Bitcoin upgrades require 90% miner consensus, which has historically triggered hard forks (such as the 2017 SegWit upgrade leading to the birth of Bitcoin Cash), whereas traditional financial institutions only need a board resolution to complete encryption infrastructure migration. Additionally, experts caution that the quantum threat is not a binary event that "arrives suddenly on a certain day"; even if quantum computers require months to crack data, as long as the cracking is completed while the data is still valuable, the threat is established.
MiCA takes effect, European crypto industry faces a "major reshuffle": high regulatory thresholds may trigger a new wave of M&A
the race for the EU's Markets in Crypto-Assets Regulation (MiCA) is coming to an end, but the real challenges for companies are just beginning. The high cost of maintaining ongoing compliance systems may reshape the European crypto landscape. The future competitive focus in the industry is likely to shift from "who can obtain a license" to "who can afford the regulatory costs," driving companies towards scaling through mergers and acquisitions, joint ventures, or partnerships with banks. As MiCA is gradually implemented and the UK's crypto regulatory framework takes shape, the European crypto industry is entering a new phase of consolidation. Insiders believe that high-standard regulatory requirements could fuel a new wave of M&A, and cooperation between crypto-native companies and traditional financial institutions will deepen further.This trend may be even more pronounced in the UK market. The Financial Conduct Authority (FCA) is developing a new regulatory framework for crypto assets, which is expected to bring crypto businesses under the existing financial services regulatory system, subjecting them to capital, operational, and customer asset protection requirements similar to those for traditional investment firms. Steven Lightstone, a partner at Morgan Lewis in London and co-head of the global fintech team, stated that while the FCA aims to promote market competition and support new entrants, its regulatory standards will be very strict when it comes to consumer protection. Unlike the EU's standalone MiCA framework, the UK's approach will directly leverage the existing financial regulatory system to manage crypto firms.Meanwhile, increased regulatory certainty is accelerating the entry of European banks into the digital asset space. Simon Schneider, CEO of Sygnum Europe, noted that currently fewer than 20% of banks in Europe offer crypto-related services, indicating a significant market gap. The greatest value of MiCA is not just creating a new licensing system but providing legal certainty for financial institutions to enter the digital asset market. Citing Switzerland as an example, he pointed out that after the introduction of distributed ledger technology regulations, most major Swiss banks have begun offering digital asset services, a path that other parts of Europe may follow in the future. Banks are unlikely to replace crypto-native companies altogether; instead, they are more likely to rely on specialized infrastructure providers and collaborate in areas such as custody, brokerage, staking, and asset tokenization.As companies that fail to secure MiCA licenses gradually exit the European market, assets may become further concentrated among regulated entities. However, Schneider believes that self-custody models and institutional custody models will continue to coexist for the long term.Industry insiders suggest that the European crypto industry is entering a "regulatory-driven consolidation cycle." For crypto startups that previously
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Analysis: Bitcoin Volatility Drops to Year-to-Date Low, Market May Be Brewing Directional Breakout
According to CoinDesk, Bitcoin's price has recently continued to trade in a narrow range between $62,000 and $65,000, with intraday volatility narrowing to the lowest level since January, while spot and trading activity have declined simultaneously.
BIS-Led Project Agorá Completes Million-Dollar Cross-Border Tokenized Payment Test
According to CoinDesk, Project Agorá, led by the Bank for International Settlements (BIS), recently completed a cross-border payment test with real funds. Participants included 28 commercial banks such as JPMorgan Chase, Citigroup, UBS, Deutsche Bank, and Standard Chartered, as well as five central banks. The test processed approximately $1 million (about 800,000 Swiss francs) in real transactions, covering six currencies: the US dollar, euro, pound sterling, Japanese yen, Swiss franc, and South Korean won. The test utilized tokenized central bank reserves and commercial bank deposits, settling funds on a shared ledger with an average settlement time of about 80 seconds. Unlike traditional cross-border payments that require intermediation by multiple correspondent banks, the platform achieved shared single ownership records and supports synchronized settlement of bilateral foreign exchange, effectively reducing principal risk. The BIS stated that the platform can operate in parallel with existing payment systems, rather than replacing them.
Coinbase Canada's New CEO: Committed to Building "One-Stop Financial Exchange," Calls for Regulatory Framework to Shift from Temporary Exemptions to Legislative Normalization
According to CoinDesk, Coinbase Canada's new CEO Eric Richmond stated at the Toronto Blockchain Futurist Conference that Coinbase aims to become Canada's "all-in-one exchange," fully introducing products such as derivatives, decentralized finance (DeFi), and tokenized assets into the Canadian market to achieve "24/7, seamless, frictionless" one-stop financial services.
BNY Migrates $8.6 Trillion Transfer Agency Business to Blockchain
According to CoinDesk, the world's largest custodian bank, The Bank of New York Mellon (BNY), announced it will migrate its transfer agent core bookkeeping business to the blockchain, involving approximately $8.6 trillion in assets and 7.6 million accounts, aiming to establish a single on-chain ownership ledger and reduce reliance on multi-layer intermediaries. BNY client Baillie Gifford (managing over $261 billion) will be the first to use the service, launching the UK's first fully locally regulated tokenized fund, while BlackRock and its money market business Dreyfus also plan to follow suit. BNY stated that existing traditional systems will continue to run in parallel, with trillions of dollars in funds remaining on the traditional track in the short term.
Ionic Digital Surges 26% on NASDAQ First Day, Celsius Network Creditors Gain Exit Route
According to CoinDesk, Bitcoin mining company Ionic Digital (Nasdaq: IOND), formed from the bankruptcy restructuring of Celsius Network, completed its direct listing on Nasdaq. The stock price surged 26% on the first day, with a market capitalization reaching approximately $2.8 billion, setting a record for the largest direct listing on Nasdaq since 2021. The stock opened at $50 and closed at $62.90, about 19% higher than the Nasdaq reference price of $53. The company was established in January 2024, acquiring Celsius mining assets through a court-approved restructuring plan, and issued 37 million shares of Class A common stock to Celsius creditors, providing them with an exit channel.
Jito Foundation: Perpetual Contracts Are the "Trojan Horse" of Traditional Finance Going On-Chain, Solana Must Win This Battle
According to CoinDesk, Jito Foundation Chair Brian Smith noted in an article that as SpaceX completes one of the largest IPOs in history, Solana and Hyperliquid are fiercely competing for perpetual contract and tokenized stock trading market share. The article argues that perpetual contracts (Perps) are the core gateway for bringing traditional finance traders on-chain—during the US-Iran conflict, on-chain platforms became real-time pricing venues for gold and crude oil when CME was closed, and traditional traders are gradually migrating on-chain. Following SpaceX's IPO, the 24-hour spot trading volume of tokenized stocks on Solana surpassed $100 million for the first time; the opening price of Cerebras Systems stock differed from the on-chain perpetual contract implied price by only 3%, and SpaceX's implied price of $171 also matched the IPO offering price exactly.