Analysis
Bitcoin miners saved Texas power grid from collapse, but their lucrative pivot to AI is stripping away the emergency brake
The machines Texas leans on hardest during a heat wave get cheaper to shut off right when they're least needed.
Sentiment: Neutral
Latest stories
Analysis
Coinbase spent 5 years building a life raft away from Bitcoin and still managed to lose $359M
The largest US crypto exchange has spent five years building businesses that don't depend on Bitcoin trades, and it lost money for a third straight quarter anyway.
ETF
The free ride for VanEck’s Bitcoin ETF is officially over after falling $1.4 billion short of growth target
The 0.20% sponsor fee applies after July 31, putting HODL level with BITB but one basis point above EZBC.
Digital Asset Treasuries
After $8.2B loss forced Bitcoin sales, Michael Saylor gives Strategy to September to repair broken dividend engine
The company is rebuilding support for its $10.5 billion preferred stock before restarting the digital-credit issuance behind its seven-year goal.
Earnings
Robinhood’s crypto revenue plunged 38%, but a sudden explosion in options trading saved its record quarter
Robinhood spent years building a blockchain for serious Wall Street assets, but a viral cat coin just hijacked its whole plan.
Analysis
Zcash fixed the flaw that nearly halved ZEC, and $926 million in leverage now tests the rebound
Zcash’s Ironwood upgrade puts ZEC’s $500 recovery against $926 million in open interest and the risk of a derivatives-led reversal.
Technology
As Ethereum turns 11 years old it hosts $148B in stablecoins, but daily mainnet revenue just fell to $330k
Ethereum enters its second decade facing four tests around ETH value capture, rollup cohesion, ecosystem leadership and neutral scaling.
Bankruptcy
Why 37 million Celsius bankruptcy shares are blocked from an immediate cash-out despite Nasdaq debut
IOND closed its first session at $62.90, while broker transfers and securities restrictions still shaped practical liquidity.
Bankruptcy
FTX’s $900M payout drops Friday, triggering 6-month countdown for creditors to onboard or forfeit funds entirely
Creditors who cleared June 16 requirements should be paid within three business days; allowed claim holders still awaiting provider onboarding may forfeit distribution rights.
ETF
Hyperliquid’s token is tanking as ETF investors flee, so why does Grayscale think it is massively undervalued?
The July outflows contrast with Grayscale’s view that Hyperliquid’s revenue and buybacks support a higher token valuation.
ETF
Forget ETF flows, Bitcoin’s real threat is a hidden $39,900 liquidation wall
Behind Wall Street’s $67 billion Bitcoin experiment lies a math problem that triggers at $39,900.
Macro
Three Fed officials just voted for a rate hike as Bitcoin hangs by a thread on a $62,000 shelf
Three hawkish dissents, rising oil and weak market liquidity put Bitcoin’s $62,000 support on watch ahead of the September Fed meeting.
