AVAX One CEO says $35.1M quarterly loss masks growth in its staking and treasury business

AVAX One interim CEO Pete Wylie has said $33 million in non-cash charges accounted for most of the companys $35.1 million second-quarter loss as staking helped revenue rise to $2.8 million.  SummaryAVAX Ones adjusted net loss was $2.2 million after excluding $33 million in non-cash charges.Staking generated $2.1 million as quarterly revenue rose from approximately $500,000 to $2.8 million.The company held 14.09 million AVAX and equivalents, with roughly 95% actively staked.Wylie said AVAX One favors established yield partners and maintains a conservative approach to debt.  AVAX One interim CEO Pete Wylie told crypto.news that the reported loss did not capture the operating performance of the companys staking, mining and digital infrastructure businesses.  “The $35.1 million number can be attention-grabbing, but it does not tell the full story,” Wylie said.  “It includes about $33 million of what are called non-cash charges, most of that being an unrealized markdown based on current prices for the AVAX we continue to hold and accumulate.”  After removing the non-cash items, AVAX One reported an adjusted net loss of $2.2 million for the quarter. Wylie said the adjusted figure provided a clearer view of the operating business, although the company‘s reported results remain closely tied to AVAX’s market value.  You might also

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Solana Just Got Faster—Is It Bullish for SOL?

In briefThe Agave v4.2 client turned on the first 50ms slot-time cut, from 400ms to 350ms, this week.  I- ts step one of four under the approved SIMD-0525 proposal, each gated to a later epoch so the network can pause if block-skip rates rise.Solanas goal is a 2x faster confirmation and tighter leader windows that double as a censorship-resistance measure.  The speedy Solana network just got faster, upgrading the way transactions on the network are processed for the first time since genesis. What it means is applications on Solana will now confirm transactions a bit quicker—increasing the efficiency of its “internet capital markets” across the network. Does it bode well for investors in the networks native token SOL?  First, heres what the upgrade does, from a technical perspective: Solana validators running the Agave v4.2 client flipped on the first of four scheduled slot-time reductions this week, dropping the networks base timing from 400ms to 350ms, meaning confirmations now take a lot less.  Myriad: Where does Solana price go next? Click to make your prediction.  The change is the first cut to Solanas slot length since genesis, and its the opening move in a plan to reach 200ms. For context, thats far shorter than Bitcoins ~10-minute

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Washington Goes All-In on Crypto: Trump Pushes Clarity, SEC Rules, and CFTC Warnings

In briefIn a packed week, Trump hosted crypto executives at the White House and pressed Congress to pass a “fair version” of the Clarity Act—a nod to disputed ethics provisions he says single him out.At the CFTCs inaugural Innovation Advisory Committee meeting, Chairman Mike Selig framed the bill as protection against “another Gary Gensler” but warned that if Clarity stalls over “Democratic obstruction,” the agency will use existing authorities to build its own crypto regime, having already directed staff to explore rules.The SEC formally proposed Regulation Crypto Assets—allowing certain offerings up to $5 million over four years or $75 million annually without full registration, plus a conditional safe harbor.  Washingtons usual August lull disappeared this week.  The SEC unveiled its first crypto-specific rulemaking proposal on Tuesday, President Donald Trump hosted industry executives at the White House on Wednesday, and the CFTC convened the inaugural meeting of its Innovation Advisory Committee on Thursday.  Myriad: Will the Clarity Act be signed into law in 2026? Click to make your prediction.  President Trump had a clear message for the crypto execs invited to the oval office: Pass the Clarity Act  Industry executives left Wednesday‘s White House meeting with renewed optimism about the Clarity Act’s prospects. Trump urged Congress

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Bitcoin Holds $77K as Bulls Keep Augusts Best Week in Play

Bitcoin held above $77,000 after touching a multi‑month high near $79,500, positioning the asset for its strongest week of August.  Key TakeawaysBitcoin surged past $65,000 resistance to reach a multi-month peak of $79,491 before settling near $77,300.Coinglass data showed the rally wiped out $709 million in BTC short bets out of $1.13 billion marketwide.Peter Schiff noted inflation hedges rising as prediction markets bet BTC will finish 2026 in the green.  Bitcoin Consolidates Near $77,000 After Multi-Month Peak  Bitcoin (BTC) appeared to consolidate above $77,000 hours after reaching a multi-month peak. Despite the retreat, bitcoin remained on course to close the week with its highest gains in August so far, as it finally broke the $65,000 resistance level following weeks of failed attempts.  However, before the surge to the monthly peak, market data showed bitcoin rallied to $75,500 around 9:50 p.m. Thursday before a sell-off wave dragged it toward $74,000. Just over four hours later, the cryptocurrency was back above $75,500 as another massive rally pushed it to $79,491.  However, bulls backed off as bitcoin failed to hold its approach toward $80,000, slipping back under $77,000 and chopping sideways in that band. At 12:30 p.m. EST, bitcoin traded just above $77,300, translating to a daily gain

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Strategy Swings From $13 Billion Bitcoin Loss to $1.4 Billion Profit as BTC Rallies

In briefStrategy is sitting on roughly $1.4 billion in unrealized gains on its Bitcoin holdings.The company holds 840,447 BTC acquired at an average price of $75,385.Bitcoins rally follows months of pressure that pushed Strategys position roughly $13 billion underwater in July.  Michael Saylors Bitcoin treasury company Strategy is back in the black on its massive Bitcoin holdings after a five-day rally pushed BTC above the companys average acquisition price.  The company holds 840,447 BTC, worth around $64.97 billion. With Bitcoin trading around $77,000, Strategy is sitting on an unrealized gain of roughly $1.4 billion, or 2.4%.  Myriad: Will Strategy hold over 1M BTC? Click to make your prediction.  The turnaround is a sharp reversal from July, when Bitcoin fell to roughly $58,000, and Strategys holdings were about $13 billion underwater. Bitcoin remains well below its October all-time high of $126,000.  Strategy shares rose roughly 10% in Friday pre-market trading to $120, their highest level in two months.  The rebound follows a shift in how Strategy manages its Bitcoin treasury. The company has sold 6,948 BTC for roughly $432.5 million since May after years of Executive Chairman Michael Saylor championing a “never sell” approach.  Strategy sold 1,690 BTC for $109 million during the week ending August 9, using

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Crypto Biz: Treasury‘s ’Not-QE playbook sends Bitcoin higher

Bitcoin and the broader digital asset market got a taste of “not-QE” this week — and liked it.  The price of Bitcoin (BTC) jumped more than 23% toward $79,000 and Ethers price crossed $2,400 after the US Treasury moved to double certain long-dated bond buybacks, adding fuel to an increasingly important question for digital asset markets. If Washington keeps finding new ways to support liquidity without technically embarking on quantitative easing, could Bitcoin and other risk assets become some of the biggest beneficiaries?  That question is already shaping business decisions across crypto. Standard Chartered sees Bitcoin heading toward $100,000, Metaplanet is taking its Bitcoin treasury strategy to the US and Cypherpunk Technologies is making a $33 million bet on Zcash mining.  Standard Chartered analyst sees Bitcoin reaching $100,000 as Treasury buybacks expand  Standard Chartered analyst Geoff Kendrick said Bitcoin could reach $100,000 by year-end as the US Treasury doubles long-end bond buybacks, a move he described as “exactly the type of thing Bitcoin loves.”  Kendrick said in a client note that BTC‘s key technical level is $65,500 and breaking above it could confirm the cycle low is in. He cited Wednesday’s Treasury plan to at least double buyback operations for 10- to 20-year and 20-

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Digital Asset, Paul Ryan foundation target US state benefits with Canton pilot

Digital Asset, the creator of the Canton Network, and former US House Speaker Paul Ryans American Idea Foundation plan to pilot a blockchain-based system for distributing state-administered benefits across three US states using the Canton Network.  The RISE program is expected to launch in the first quarter of 2027 and would combine multiple benefits into monthly or twice-monthly payments, with spending rules applied to categories including food, child care and cash.  According to Fridays announcement, the system would automatically adjust benefit levels as household income changes and allow participating agencies to track payments, balances, spending and compliance data through Canton. Digital Asset said Canton would coordinate the rules, permissions and transactions used to distribute benefits while limiting access to sensitive information.  Ryan said the pilot is intended to reduce penalties that can occur as benefit recipients incomes rise:  By combining fragmented benefits, reducing penalties as families earn more, and rigorously measuring results, these pilots can help show what a modern safety net should look like.  The companies did not name the participating states or specify which benefit programs would be included, and said the pilots remain subject to federal approval.  Related: FalconX, Interstice Connect Canton to Ethereum, Solana and Robinhood Chain  Canton expands government-linked use cases  The RISE

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ZK proving must move beyond GPUs as AI tightens compute supply, Cysic CEO says

ZK proving has begun competing with trillion-dollar AI data centers for the same GPUs, raising proof costs even as Cysic reports a 9% performance gain from improving hardware use.  SummaryCysic says inefficient GPU use, rather than inadequate raw computing power, now drives proving costs.ZK workloads compete with AI for Nvidia GPUs despite relying on different mathematical operations.Real-time Ethereum proving and ZK-rollups could face higher costs before consumer applications do.Cysic expects the squeeze to speed up adoption of FPGAs, ZK-specific ASICs and open prover markets.  Cysic founder and CEO Leo Fan told crypto.news that GPU use has become a binding constraint for zero-knowledge proving because proof systems now compete with heavily funded AI data centers for the same silicon.  “AI models are converging. Compute isn‘t. Everyone assumed proving costs would fall because chips get cheaper. Instead, we’re bidding against trillion-dollar data centre budgets for the same silicon. Thats why the hardware layer had to be opened up rather than left to a handful of proprietary provers.”  The pressure does not come from a lack of computing capacity alone, according to Fan. He said the main problem is an architectural mismatch between zkVM software and the accelerators used to generate proofs, which leaves part of the

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Bitcoin ETFs Just Had Their Biggest Day Since May—BlackRock Took 83% of It

In briefU.S. spot Bitcoin ETFs took in $606.29 million on August 20, their largest single-day haul since May 1 and a fourth straight day of inflows.BlackRocks IBIT accounted for $502.99 million of that—about 83%, up from 55% the day before, while VanEcks HODL posted an outflow.Ethereum funds added $221 million, XRP $13 million, and Solana $15 million, with every listed asset drawing money.  U.S. spot Bitcoin ETFs pulled in $606.29 million on Thursday, their biggest single-day haul since May 1, according to SoSoValue. That beats Wednesdays $517.19 million and extends the inflow streak to four sessions.  The four-day run—$297.56 million Monday, $189.30 million Tuesday, then Wednesday and Thursday—comes to roughly $1.61 billion in all. August now stands at $2.07 billion, the best month of 2026, beating Aprils $1.97 billion, with seven trading sessions left to close the gap.  One fund took almost all of it  Bitcoin ETFs are financial instruments that give investors exposure to an asset without directly owning it. In the case of Bitcoin ETFs, the issuer of the fund holds the coin, and the investor owns a 1:1 equivalent, gaining exposure to the price of Bitcoin in real time.  Myriad: Bitcoin price next move? Click to make your prediction.  These funds have been

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Solana Company rejects SOL inflation and fee plans

Solana Company has backed Solanas proposed constitution while opposing two economic plans that could cut token issuance by 18.9 million SOL and raise daily token burns as voting opens on Aug. 22.  SummarySolana Company will support SGP-0001 and vote against SGP-0002 and SGP-0003.SGP-0002 could reduce projected SOL emissions by 18.9 million tokens over six years.The Nasdaq-listed company said changing staking and fee rules could discourage institutions.Successful governance votes would guide policy but would not automatically activate either proposal.  The company said in an Aug. 21 press release that it will vote for SGP-0001, known as the Solana Constitution, while opposing SGP-0002, the Double Disinflation Rate proposal, and SGP-0003, the Resource and Inclusion Fee proposal.  On-chain voting for the first three Solana Governance Proposals is expected to begin on Aug. 22. Solana Company, which trades on Nasdaq under the HSDT ticker, operates institutional validator infrastructure across the Asia-Pacific region and earns staking revenue from its SOL treasury.  Its support for SGP-0001 rests on the proposed constitutions voting structure. Under the system, staking participants receive transparent votes weighted by their stake, while token holders retain the power to override votes cast by the operators managing their delegated SOL.  According to the company, the structure gives financial institutions

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