Technology
Layer-2
Galaxy’s Alex Thorn calls Ethereum L2s ‘ETH extractive’ amid fee retention concerns
Galaxy Digital's Alex Thorn argued that post-EIP-4844 fee models favor L2 profits over Ethereum mainnet's financial health.
Analysis
Bitcoin settles into $110k–$116k ‘air gap’ as market awaits fresh demand
Spot ETF outflows and neutral funding rates reflect the tempered speculative appetite for Bitcoin as it trades in an "air gap" between $110,000 and $116,000.
Legal
Jury convicts Roman Storm on unlicensed money transmission; hung on laundering, not guilty on sanctions
Following a brief deadlock, the jury found Storm guilty of conspiring to operate an unlicensed money transmitting business.
Crypto
Bitcoin loses key support at $115,800 as altcoin traders capitulate, signaling fading risk appetite
Despite the crashes registered last week, ENA and PENGU remained two outliers with 14.% and 8.4% weekly price increases, respectively.
ETF
SEC liquid staking guidance clears ‘last hurdle’ for staking in spot crypto ETFs
Lucas Bruder, CEO of Jito Labs, said in a note that the statement showed an “incredibly nuanced understanding” of current liquid staking arrangements.
Wallets
Coinbase debuts developer wallet with automatic 4.1% USDC rewards, notes regulatory clarity
Early use cases include remittances, payment links, DeFi marketplaces, B2B payroll, creator payouts, and gaming with on-chain assets and free USDC sends on Base.
Tokenization
Cardano sidechain Midnight starts token distribution to ADA, XRP, BTC holders
In addition, users who held at least $100 worth of SOL, AVAX, ETH, BNB, or BAT as of June 11 will also be eligible.
Adoption
Public Bitcoin treasuries step in with $552M buys amid $1.25B ETF outflows
Between July 31 and August 4, public treasuries absorbed nearly half of the selling pressure made by Bitcoin investors exposed via ETFs.
Regulation
SEC clarifies liquid staking tokens are receipts, not securities
However, the regulator highlighted that the statement is not a blanket approval, adding that liquid staking might characterize securities offering under some circumstances.
ETF
Ethereum ETFs 20-day inflow streak ends with $152M outflow
The Ethereum ETFs added $5.4 billion in inflows during their largest and longest streak.
Adoption
Verb secures $558M to become first TON treasury vehicle, plans TON Strategy rebrand
Incoming executive chairman Manuel Stotz is president at the Ton Foundation and CEO at Kingsway Capital.
Analysis
Crypto tokens explode from 20k in 2022 to 18.9M following launchpad frenzy on Solana, Base, BSC
Despite the proliferation of assets, value continues to concentrate in a few hundred coins at the top.