Crypto Industry News & Market Trends

Poolin, Once One of Bitcoin's Biggest Mining Pools, Files for Bankruptcy

In briefPoolin Technology filed for Chapter 11 bankruptcy on July 22.The largest single debt, $163.7 million, is owed to about 11,700 users.Thor CALAP LLC has placed a $52 million stalking-horse bid for Poolins two West Texas mining sites, setting the floor for a court-supervised auction.　　Poolin Technology Pte. Ltd., the Singapore-based company that once ran one of Bitcoins largest mining pools, filed for Chapter 11 bankruptcy on July 22—the U.S. legal process that lets a company operate under court supervision while it reorganizes or, in this case, sells off its remaining assets and shuts down.　　The filing, in the U.S. Bankruptcy Court for the District of New Jersey, covers Poolin alongside two U.S. affiliates, Lonestar Dream Inc. and Lonestar Taproot LLC. Court documents list roughly prepetition obligations of more than $100 million against less than $10 million in assets.　　A mining pool lets individual Bitcoin miners combine their hashrate—the raw computing power machines burn through to solve the cryptographic puzzles that add new blocks to the blockchain—so the group wins rewards more often than any single miner could alone.　　Poolin was founded in Beijing in 2017 by Zhibiao “Kevin” Pan, along with Fa Zhu and Tianzhao Li, all veterans of mining-hardware maker Bitmain, and

07-25Industry

Wise plans to resubmit national trust bank application under GENIUS Act framework

William Blair said that while Wise is resubmitting its national trust bank charter application under a GENIUS Act framework, the analysts do not predict “a major shift in the companys stance on stablecoins.”The OCC has granted conditional approval to several stablecoin-focused entities since December, six months after the GENIUS Act passed, legislating payment stablecoin activities.　　Wise plans to submit a new application for a national trust bank charter in the U.S. under the GENIUS Act stablecoin framework after the Office of the Comptroller of the Currency denied its original application, according to a William Blair note on Friday.　　The OCC said that Wises application was incompatible with new ⁠Federal Reserve policies regarding payment system Master Account access.　　Reuters reported that Wise would reapply on Friday. The OCCs denial was made in a July 21 letter.　　“While approval would have represented a step towards a connection to U.S. domestic rails, we understand the Fed has essentially halted the granting of master accounts, as it develops policies for payment accounts that were formally proposed in May 2026,” William Blair analysts Cristopher Kennedy and Marc Feldman wrote.　　The OCC, along with other major financial regulators in the U.S., has radically reshaped its approach to oversight during President Donald

07-25Industry

Sui traders eye range lows at $0.70 as oversold RSI signals potential buying zone

Sui [SUI] faced a 5%price drawdown in the past 24 hours, with a 9.6%uptick in daily trading volume. This was worrisome as it suggested a short-term increase in selling pressure.　　The rest of the crypto market has faced losses over the past day, too. Bitcoin [BTC] and Ethereum [ETH] were down 1.05% and 1.14%,respectively. Compared to these market leaders, Sui was underperforming in the short-term.　　Why the Sui downturn is surprising　　Coinbase announced that SUI can be staked directly on the exchange. Staking rewards would directly accumulate to the users account. It offered an easy, effortless way of earning rewards.　　Source: Ted on X　　Trader Ted noted that the bullish catalyst could help the altcoin break past the descending trendline resistance in place since early June. The token has defended the $0.66support zone well so far.　　Some more consolidation followed by a bullish breakout was a viable scenario, the trader wrote.　　Source: SUI/USDT on TradingView　　The swing low at $0.65, made in June, marked the swing structures low. The RSI on the 1-day timeframerecently climbed above neutral 50, but the losses of the past three days sent the momentum indicator tumbling once more.　　The OBV was in a downtrend, although the selling pressure has eased in July.　　A pullback, in

07-25Industry

Top Crypto Lobbyist Says There Is Still Hope for Clarity Act

The push to pass the Digital Asset Market Clarity Act before the August recess is not over, according to Kristin Smith, one of the crypto industrys leading lobbyists.　　Currencies s passage to just 30%, adding that there is a need for a “last-ditch” effort.　　Some glimmers of hope　　In the meantime, a key law enforcement organization has also thrown its support behind the latest version of the Clarity Act.　　The National Fraternal Order of Police said revised language related to the Blockchain Regulatory Certainty Act (BRCA) addresses its previous concerns.　　The backing could still strengthen the case for passing the bill.　　As reported by U.Today, Goldman Sachs CEO David Solomon has also endorsed the bill.　　Solomon said he is “very supportive” of moving the Digital Asset Market Clarity Act forward, arguing that clearer rules would provide the regulatory certainty needed for financial institutions to participate in blockchain markets.　　While acknowledging that the bill is not perfect, the Goldman chief said establishing a market structure framework would help accelerate innovation.　　However, traditional banking groups fiercely oppose the bill, and it looks increasingly likely that they are going to prevail.

07-25Industry

Ethereum Price Forecast: ETH shows bottom signs but relative performance against Bitcoin not there yet

Ethereum price today: $1,860Ethereums decline to a yearly low against Bitcoin has sparked calls of an ETH bottom, which eventually expands into an altcoin season.However, ETH/BTC valuation metrics have yet to reach extreme levels that historically align with an ETH bottom.ETH risks a decline to $1,800 if it fails to bounce off the 20- and 50-day EMAs.　　Ethereum (ETH) is showing early signs of a market bottom relative to Bitcoin (BTC), but has to confirm several other key bottoming signals before an outperformance can be expected, according to CryptoQuant.　　In a report released late Thursday, the analyst at the on-chain analytics firm noted that Ethereum has underperformed Bitcoin for nearly a year, evidenced by the ETH/BTC ratio declining to 0.028, marking its lowest level since last August.　　ETH/BTC Ratio. Source: CryptoQuant　　Such conditions usually spike sentiment around a potential ETH bottom, which eventually expands into an altcoin season.　　“The question for investors is whether ETH is now cheap enough to mark a durable bottom – the precondition for ETH outperformance and, historically, for a broader altcoin season,” the analysts wrote.　　The report argued that Ethereum is closer to a market bottom with less downside risk compared to upside, as it is trading near $1,900, roughly 17%

07-25Industry

A 7 year Ledger bug lets attackers rebuild a private key from five signatures in seconds

Zilliqa has suspended native transactions after discovering that roughly five affected signatures from the same private key may provide enough information to reconstruct that key, creating a recovery problem that an ordinary transfer cannot safely solve.　　The vulnerability is confined to Schnorr signatures generated for native, non-EVM transactions through the Zilliqa Ledger app, according to the networks security disclosure. Zilliqa said every version of the app released between 2019 and 2026 contained the flaw.　　Zilliqa said it detected on-chain activity consistent with active exploitation on July 19 and confirmed the root cause on July 21. The disclosure did not identify affected addresses or quantify any losses.　　Public signatures can expose the private key　　The flaw occurred while the Ledger app generated the ephemeral nonce required for each native Zilliqa signature. The signing routine generated 40 bytes of randomness and reduced the result modulo the secp256k1 curve order, but then copied the wrong 32-byte range into the nonce buffer.　　That operation retained eight zero-padding bytes while discarding eight bytes of actual entropy, fixing the nonces highest 64 bits at zero and leaving each value below 2192.　　Zilliqa said an attacker can combine approximately five affected signatures produced by the same private key and use lattice-reduction techniques to

07-25Industry

BitMEX Co-Founders Face Fresh Lawsuit Over Liquidations

BitMEXs final months have taken another dramatic turn after two former customers accused the cryptocurrency exchange of operating against its own users. The proposed class action targets co-founders Arthur Hayes, Samuel Reed, Benjamin Delo, and several affiliated entities.　　The lawsuit arrived just before BitMEX confirmed it would permanently close in September 2026. Consequently, the legal challenge has intensified scrutiny over the platforms trading practices, liquidation system, and handling of customer funds during its years of operation.　　Alleged Trading Practices Under Scrutiny　　The plaintiffs argue BitMEX secretly ran an internal trading operation that accessed confidential customer information. They claim the desk identified liquidation levels and executed trades designed to trigger forced closures.　　Moreover, the lawsuit alleges the exchange disguised these activities through anonymous accounts. The filing also argues BitMEX directed excess collateral from liquidated positions into its Insurance Fund instead of protecting customers.　　Plaintiffs Seek Bitcoin Recovery　　Additionally, the complaint revisits the March 2020 trading disruption, claiming the outage intentionally prevented users from managing positions during extreme market volatility. The plaintiffs report losing hundreds of Bitcoin through multiple liquidations between 2018 and 2020. Instead of requesting cash damages, they seek the return of their Bitcoin.　　Besides, the proposed class could include thousands of U.S. traders, with total claims

07-25Industry

EU adds HTX to Russia sanctions but stops short of the UKs asset freeze

The European Council named crypto exchange HTX, formerly Huobi, in its 21st package of restrictive measures against Russia, adopted July 23 and published Friday.　　COUNCIL DECISION (CFSP) 2026/1849 of 23 July 2026 | Source: EUR-Lex　　The Council decision places HTX among 18 entities providing crypto-asset or payment services from outside the Union that officials say are significantly frustrating the purpose of the blocs prohibitions.　　The stated targets are channels that keep money moving to Moscow, whether by connecting to the Russian central banks financial-messaging system or by working around existing restrictions.　　The wider package runs to 218 listings covering 48 individuals and 170 entities, per TRM Labs, the largest single batch in four years, and freezes assets or bans transactions for 94 banks and major financial institutions.　　EU targets HTX without imposing a full asset freeze　　The measures taken by the EU against HTX do not constitute a full designation and do not include any freeze on assets. The effect that they have is to prevent transactions between the exchange and EU-based entities from being conducted.　　Following the sanctions imposed by the UK in May, the firm issued a statement that compliance is their “absolute top priority” and that they comply with regulations in all jurisdictions where

07-25Industry

Bitcoin ETFs Shed $225M, Snapping Seven-Day Inflow Streak as Iran Tensions Spook Markets

In briefU.S. spot Bitcoin ETFs posted $225.2 million in net outflows on July 23, ending a seven-day streak that had pulled in nearly $1 billion, according to SoSoValue data.BlackRocks IBIT accounted for the bulk of the exit at $202.5 million, while Morgan Stanleys MSBT was the only Bitcoin fund to add money, taking in $5 million.Spot Ethereum ETFs moved the opposite direction, adding $26.3 million to stretch their own inflow streak to five straight days.　　It was nice while it lasted. Bitcoin ETFs just had their first bad day in more than a week.　　U.S.-listed spot Bitcoin ETFs—stock market funds that hold Bitcoin so investors dont need their own crypto wallet—posted $225.2 million in net outflows on Thursday, snapping a seven-session streak that had pulled in close to $1 billion.　　Its the categorys first negative day since July 13.　　An “outflow” means more investors cashed out than put money in, forcing the fund to sell some of its Bitcoin to cover redemptions. One bad day didnt erase a good week: the funds still closed roughly $274 million higher for the five sessions through Thursday.　　BlackRocks IBIT, the largest fund in the category, did almost all of the damage, shedding $202.5 million. Fidelitys FBTC, Bitwises BITB,

07-25Industry

Coinbase sees Bitcoin accumulation collide with Q3 macro pressure

Coinbase Institutional and Glassnode have maintained a neutral Q3 2026 crypto outlook as a 12% quarterly market contraction clashes with early signs of Bitcoin accumulation.　　SummaryCoinbase and Glassnode maintain a neutral Q3 outlook despite early Bitcoin accumulation signals.Weak ETF demand and rising leveraged longs leave crypto vulnerable to renewed selling.Hawkish Fed policy and geopolitical tensions continue to restrict market liquidity.　　Coinbase Institutional Research and Glassnode based the outlook on more than 25 charts covering onchain activity, institutional flows, macro conditions and cross-asset correlations. Their joint “Charting Crypto Q3 2026” report argues that improving Bitcoin data has not yet overcome pressure from tighter liquidity, geopolitical tensions and weak exchange-traded fund demand.　　Released on July 24, the report shows that the total crypto market capitalization, excluding stablecoins, fell about 12% during the second quarter. Stablecoin supply reached record levels during the same period, which Coinbase and Glassnode interpreted as a sign that some sellers moved into dollar-linked tokens instead of withdrawing from the crypto market completely.　　Bitcoins relationship with traditional assets also changed sharply. According to the report, its 90-day correlation with the S&P 500 dropped to 0.12 from 0.58 in the fourth quarter of 2025, while its correlation with gold climbed to 0.57.　　Coinbase Institutional and

07-25Industry

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