Markets

Ninety-seven per cent of the treasury company's quarterly loss came from a single mark-to-market line. New CEO Raphael Zagury told shareholders the pure-holder model is over.

The three-month annualised futures basis has fallen to roughly 3 per cent, below two-year Treasury yields, ending the market-neutral position that kept leveraged funds structurally short for years.

Across Protocol, Hashflow, PIVX, Vulcan Forged PYR, Vanar and Viction all lose spot pairs, futures, margin and Earn products in a phased shutdown that starts on 7 August and ends with an October withdrawal deadline.

The only comparable stretch on record ran from August 2022 into January 2023 and ended at the cycle low. Futures volume in July was just over $880 million against a February peak of $1.47 trillion.

The $18.07 million loan from Arch Lending matured Friday afternoon with no public repayment notice, and the company has not filed the collateral terms.

Roughly $14.56 billion has left USDT and USDC since mid-May, most of it in June. The GENIUS Act's yield ban is finally showing up in the supply data.

CME launched ADA futures on 9 February; the six-month observation period closes on 9 August. Grayscale, Bitwise and four other filers can then activate spot Cardano ETF applications with an October decision deadline.

Proposal 100 takes roughly one-sixth of every swap fee and routes it into UNI burns. Liquidity providers keep their yields intact.

The unrealised loss reflects the gap between Strategy's $75,578 average cost and quarter-end bitcoin prices near $58,700. STRC preferred grew to $10.5 billion notional.

Wintermute's mid-year report shows institutional counterparties handled 72 per cent of its spot OTC volume in H1 2026. The universe of tokens they touched grew only 24 per cent in two years against 76 per cent for retail.

Bitcoin from the Farace and BTC-e wallets was laundered through fresh intermediary addresses before landing on the exchange, sixteen months after Trump's executive order told federal agencies not to sell.

Tom Lee's public miner added another 40,000 ETH on Monday and pushed its treasury above 5.78 million tokens. Roughly 85 per cent of the stack is already staked through MAVAN, generating an annualised $235 million.

US-listed spot bitcoin ETFs recorded $265.7 million of net inflows on 6 July, the second consecutive session above $200 million and the strongest institutional signal since May. IBIT alone pulled in $209.4 million.

SOL climbed out of its mid-June $66–$72 range on 1 July, testing above $85 intraday as the SEC and CFTC's March joint commodity interpretation continues to reshape which institutions can hold it.

Aave saw its strongest single day of Ethereum wallet creation in nearly five years on Tuesday, adding 1,806 addresses even as bitcoin closed under $60,000 and the fear-and-greed index sat at 13. The trigger is a mix of the V4 rollout, Smart Value Recapture revenue, and a Standard Chartered price note that circulated for a week.

Citigroup's second downgrade of 2026 tells clients the ETF bid it had been counting on has now evaporated. The bank's bear case now sees $53,000 bitcoin and $1,094 ether.

The June exodus surpassed February 2025's previous low by nearly a billion dollars, ending seven consecutive days of redemptions and coinciding with the Fed's first hawkish pivot under Kevin Warsh.

Open Standard, an independent issuer backed by Stripe, Coinbase, BlackRock, Visa and Mastercard, will hand almost all reserve yield to the partners that distribute it — a direct assault on Circle's economics.

The Wall Street Journal reported Friday that Schwab and Cboe will launch S&P 500-linked binary options for retail customers in the coming months. Schwab's 47 million accounts will sit one tab over from contracts Polymarket and Kalshi have spent three years building a category around.