Latest Crypto News & Market Updates

US bitcoin ETFs break 10-day negative streak with $222 million worth of inflows

Quick TakeU.S. spot bitcoin ETFs generated $221.7 million worth of net inflows on Thursday, after a 10-day outflow streak.BlackRocks IBIT was the only fund that saw net outflows on Thursday, shedding $40.4 million.　　U.S. spot bitcoin (BTC) exchange-traded funds reported net inflows on Thursday, breaking a 10-day negative streak.　　The spot bitcoin ETFs logged a total net inflow of $221.7 million on July 2, led by $166 million moving into Fidelitys FBTC, according to data from SoSoValue. Ark Invest and 21Shares ARKB reported $91.8 million worth of inflows, while VanEcks HODL saw a smaller inflow of $4.4 million on the day.　　This is the first time the bitcoin ETFs have reported net inflows since June 16, after which the funds entered a losing streak totaling more than $2.7 billion. In June, bitcoin funds saw $4.5 billion in net outflows, marking the worst month since their launch in 2024.　　Meanwhile, BlackRocks IBIT was the only fund that saw net outflows on Thursday, shedding $40.4 million. This marks the 11th straight day of net outflows for IBIT, during which roughly $2.2 billion has left the fund. On a weekly basis, IBIT has now been reporting outflows for eight straight weeks.　　“The recent net inflows into spot bitcoin

07-03Industry

AI agent development hasnt accelerated as expected, Zuckerberg says

Meta CEO Mark Zuckerberg said AI agent development at the firm is progressing more slowly than expected, even as technology and crypto firms continue pouring resources into the nascent technology.　　In a company meeting on Thursday, Zuckerberg said the “trajectory of the agentic development over at least the last four months hasnt really accelerated in the way that we expected,” according to Reuters, which reviewed a recording of the call.　　The bet on agent adoption hasn‘t “come to fruition yet,” Zuckerberg said, adding that executives made an aggressive push into agentic infrastructure in January in part because of fears they weren’t moving “fast enough.”　　Despite the slower progress, Zuckerberg said he expects the firms AI investments to start paying off within the next three to six months.　　Zuckerbergs comments offer a reality check for technology and crypto firms betting that autonomous agents will soon become major users of blockchain payments. Meta, along with several crypto firms, has bet big on agentic AI, with many pivoting their business models to cater to autonomous AI agents.　　In May, Meta cut roughly 10% of its workforce and reassigned about 7,000 employees to AI-focused teams — a restructuring Zuckerberg acknowledged was not as clean as it could have been,

07-03Industry

Teen ‘Scattered Spider’ suspect extradited to US over $8M crypto ransom

A teenager suspected of involvement with the “Scattered Spider” hacking group has been extradited to the US over his alleged role in an $8 million crypto ransom.　　The US Justice Department said on Wednesday that Peter Stokes, a 19-year-old dual US-Estonian national, was arrested in Finland in April on an Interpol Red Notice and extradited to the US last week to appear in a Chicago federal court on Tuesday.　　A criminal complaint unsealed in court accused Stokes and others of breaching a luxury jewelry retailers computer system in May 2025 to steal data and demand a ransom payment of $8 million in crypto. The retailer managed to evict them from the network and did not pay the ransom, but suffered $2 million in disruption damages, according to the complaint.　　Stokes is one of the few arrests that authorities have tied to Scattered Spider, which often uses crypto ransoms. Ransomware actors received more than $820 million in payments last year, an 8% decline from 2024, even as attacks rose by 50%.　　An image the FBI took from Stokes Snapchat account shows him wearing a necklace that says “Hack the Planet,” a quote from the 1995 cult film “Hackers.” Source: US Department of Justice　　Alleged hack started

07-03Industry

eToro leads $12.5 million funding round for on-chain perpetual futures platform Extended

Trading platform eToro has led a $12.5 million strategic investment in Extended, an on-chain perpetual futures exchange founded by former Revolut employees, tying the deal to its recent acquisition of self-custody wallet Zengo.　　eToro invests in Extended to link perps with Zengo　　eToro announced the funding on July 2, with Jump Crypto also taking part in the funding round, according to The Block. The investment is related to eToro‘s acquisition of Zengo in April, a self-custodial wallet that uses multi-party computation (MPC) cryptography to eliminate the need for seed phrases to access a user’s funds. When the deal was made, Zengos valuation is estimated at $70 million.　　Extended is founded by former Revolut executives and launched public trading in late 2024. It runs on StarkWares StarkEx scaling infrastructure, a validity-rollup technology that allows for high-throughput, low-cost trading while settling transactions on the Ethereum blockchain, according to The Block.　　Though Extended has not disclosed metrics publicly (e.g., trading volume; open interest; total value locked; active users; post-funding valuation), the backing of eToro and Jump Crypto indicates that investors are confident in the companys infrastructure and long-term growth potential — rather than any size measures that may be publicly reported.　　Extendeds perpetual futures engine will be integrated

07-03Exchange

Strategy will be ‘less important’ in Bitcoin after STRC incident: Bitwise

Strategy‘s era as the dominant Bitcoin buyer may have come to an end following last week’s STRC turmoil, which cast doubt on the companys Bitcoin-buying strategy and sent the cryptocurrency to a nearly two-year low, according to Bitwise chief investment officer Matt Hougan.　　“For years, Strategy has been the most dominant Bitcoin buyer in the world and a one-way source of Bitcoin demand. Those days are likely over,” Hougan said Thursday.　　“I just expect it to be a less important figure in Bitcoin in the next cycle than it was in the last,” Hougan said, adding that investment banks, asset managers, pensions, endowments and sovereign wealth funds will likely replace Strategy as Bitcoins primary demand driver.　　Confidence in Strategys Bitcoin-buying model weakened late last month when its main perpetual preferred stock offering — Stretch (STRC) — broke sharply from its $100 par value to below $75, raising fears that its dividend model was unsustainable.　　The STRC incident coincided with Bitcoin (BTC) falling to a 21-month low of $58,190 on June 25, further rattling confidence across the crypto market.　　Strategy responded by committing to sell Bitcoin where necessary to fund dividends and by expanding its US dollar reserve to $2.55 billion — easing immediate concerns but

07-03Industry

Securitize gains on NYSE debut with tokenized stocks live on Solana, Avalanche

Tokenization platform Securitize rallied on its New York Stock Exchange debut on Thursday, as it brought tokenized versions of its shares to two blockchains.　　The company, which is backed by BlackRock and Morgan Stanley, began trading on the NYSE under the ticker SECZ on Thursday after merging with a Cantor Fitzgerald-backed special-purpose acquisition company to take it public.　　Securitize said Thursday that it simultaneously launched tokenized versions of its shares on the Avalanche and Solana blockchains, which will be available to eligible US investors on its platform.　　It marks the first time a newly public company has also offered tokenized stocks, an area of crypto technology that has quickly gained attention among major institutions drawn to the idea that it can bring deeper liquidity and longer trading hours.　　Securitize has carved out a lead in the tokenization space for institutions. It partnered with the NYSE in March to create tokenized assets for the exchanges upcoming tokenized securities platform.　　US laws allow for tokenized stocks, Securitize says　　Securitize said that tokenizing its stock demonstrates that tokenized securities “can be issued and accessed in the US under existing securities laws and market structure,” adding that access will be subject to onboarding, eligibility, and customer ID and money-laundering checks.　　“We

07-03Industry

US dominates Polymarket political bets despite geoblock: Report

US-based users are the biggest political bettors on Polymarket, despite the crypto-based prediction markets efforts to restrict US citizens from using the decentralized platform, according to new research.　　Blockchain research firm Allium estimated in a report published on Thursday that US-based users are the single biggest political market of any country by contracts traded and wallet count on Polymarket — not to be confused with Polymarket US, which is a US-regulated platform that launched in December with a narrower set of markets.　　“Blocking access did not end US participation; it made the US the largest single political market on Polymarket by volume,” the report said. “The demand is still there, now offshore and beyond US oversight.”　　The data suggests that Polymarkets efforts to restrict US users from its global platform have not entirely worked, adding to an expanding list of headaches for the company in the fast-growing predictions market sector, which is under legal and political scrutiny.　　Polymarket was forced to cut off US users access to its global platform as part of a $1.4 million settlement with the Commodity Futures Trading Commission in 2022.　　Allium based its figures on the 6% of wallets it tagged with a country, meaning the data should be seen

07-03Industry

CFTC Chair Selig calls Illinois crypto tax a threat to Chicago's financial legacy

CFTC Chairman Michael Selig has accused Illinois lawmakers of putting Chicagos future as a global financial center at risk with its first-of-its-kind state tax on digital asset transactions.　　Selig has accused the state of moving in the opposite direction of the federal government, pointing out that the government is working towards creating a regulatory framework for digital assets.　　What exactly is in the new Illinois crypto tax？　　The Digital Asset Tax Act, signed by Governor J.B. Pritzker as part of a $55.9 billion budget package, makes Illinois the first U.S. state to impose a transaction-level tax on crypto activity.　　The tax is 0.2% of the asset‘s value on any crypto transfer by an Illinois resident. It applies to exchanges, transfers, and even storage of digital assets, and it doesn’t matter whether the user made a profit or a loss.　　According to Coinbase (NASDAQ: COIN) vice president of tax Lawrence Zlatkin, an Illinois resident who buys $10,000 in crypto and sells it for the same amount would owe $40 across both trades despite breaking even.　　CFTC Chairman Michael Selig recently published a Washington Times op-ed in which he says that the new law penalizes crypto activity while ignoring traditional financial transactions that look exactly the same.　　“Transferring the

07-03Exchange

Ripple co-founder backs venture launched by US senator's son: Report

Chris Larsen, co-founder and executive chair of Ripple Labs, was reportedly among those backing the financial venture of US Senator Kirsten Gillibrands son as negotiations over a significant piece of crypto-related legislation continue in the Senate.　　According to a Thursday Politico report, Larsen was one of a handful of investors backing the American Perpetuals Exchange Corp. (APEC), founded by Theodore Gillibrand. Although Larsens exact contribution was not included in the report, the majority of investors contributed between $5,000 to $10,000 each into the derivatives platform, which reportedly raised $30 million.　　The investment comes as the New York lawmaker is involved in negotiations over ethics provisions in the Digital Asset Market Clarity (CLARITY) Act, legislation expected to have a significant impact on crypto companies operating in the US, including Ripple. Gillibrand said in May that no one would be voting for the bill without addressing ethics:　　“[T]he truth is, is that we cannot allow members of Congress, senior administration officials, presidents or vice presidents, to get rich off of these industries because of their insider status. It is the worst form of pay for play.”　　A spokesperson for the senator referred Cointelegraph to her June 18 statement saying that her son was “a grown adult

07-03Industry

Bitcoin price taps new July high above $62K on weak US jobs data

Bitcoin (BTC) passed $62,000 at Thursdays Wall Street open as crypto reacted to weak US employment figures.　　Key points:US nonfarm payrolls data delivers a crypto market boost as job additions for June fall short.Investors eye an easing in the inflation outlook as optimism over BTC prices increases.Crypto begins its forecast “green July” by liquidating nearly $500 milllion of short positions.　　Bitcoin gains amid “volatile situation” for US labor market　　Data from TradingView showed new July highs of $62,137 on Bitstamp, with BTC/USD up nearly 4% on the day.BTC/USD four-hour chart. Source: Cointelegraph/TradingView　　The latest nonfarm payrolls data from the Bureau of Labor Statistics (BLS) showed that the US added far fewer jobs than expected in June, at 57,000 versus the anticipated 114,000.　　“Both the unemployment rate, at 4.2 percent, and the number of unemployed people, at 7.1 million, changed little in June,” an official news release stated.US unemployment data. Source: BLS　　The jobs numbers painted a weak picture of the labor market — a potential tailwind for risk assets should the Federal Reserve loosen financial policy as a result.　　“Mays jobs number was also revised down by -43,000 jobs,” trading resource The Kobeissi Letter noted in a reaction on X.　　“The labor market remains in a volatile situation.”　　As

07-03Industry

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