The Block

Bitwise claims Bitcoin's 'floor is rising' as institutions purchase during the bear market dip, while larger investors await regulatory clarity. The article notes the AI boom and regulatory delays as factors influencing market dynamics.

Coinbase Chief Legal Officer Paul Grewal steps down but remains in an advisory role. He joined the firm in mid-2020 to lead legal, compliance, and government relations operations.

The Ethereum Foundation's Protocol Security team uses coordinated AI agents to test critical network infrastructure. While the AI agents identify bugs, most findings are false positives.

The White House defended Trump’s regulatory appointments amid criticism from Democrats over unappointed commissioners at regulatory agencies. CFTC vacancies are complicating efforts to advance a crypto-related bill.

Hyperliquid Policy Center and Phantom are urging the CFTC to stop treating onchain protocols like traditional brokers and exchanges. The CFTC and SEC issued a Request for Information in mid-June on financial innovation.

JPMorgan states that the primary structural risk for bitcoin is not related to strategy, but rather blockchain adoption that fails to benefit public blockchains and tokens. The firm highlights concerns about adoption impacting public chains and tokens over strategic issues.

CFTC Chair Michael Selig warned that regulators may be forced to create cryptocurrency rules if Congress does not pass the Clarity Act. The statement highlights potential regulatory action in the absence of legislative clarity on crypto.

BitGo has introduced quantum protection for institutional Bitcoin wallets. Some experts argue that the greater risks from quantum computing stem from a failure to implement new technology.

BitGo CEO Mike Belshe stated that single-digit percentages of Bitcoin's supply are reasonable for large holders like Strategy following its $216 million sale.

Swift launched a blockchain-based ledger to enable 17 banks to pilot 24/7 cross-border payments using tokenized deposits. The initiative aims to enhance cross-border transaction efficiency through tokenization technology.

An INTERPOL-led global fraud crackdown arrested over 5,800 individuals and uncovered a crypto laundering network using cross-chain swaps to obscure funds. The operation identified a wallet processing $122.5 million in 10 months.

Russia’s Alfa Bank plans to launch a digital depository to offer crypto services. The move aligns with similar initiatives from other major Russian banks and the country's ongoing development of crypto law.

Sony Bank has received conditional approval from the OCC for its trust bank subsidiary, Connectia Trust, to issue a dollar-backed stablecoin. The stablecoin's issuance and management are pending final approval.

Hyundai Card completed its first real-world stablecoin pilot with Avalanche and Tether. Visa and Circle will participate in a second stablecoin proof-of-concept set to begin later this month.

AscendEx, a crypto exchange, announced on July 6 that its platform ceased operations effective July 1 due to regulatory, financial, and operational challenges. The shutdown leaves no assurance of user payouts.

Sen. Ron Wyden is urging Senate leaders to include a provision protecting blockchain software developers in a broader crypto bill. The provision aims to preserve protections for developers working on blockchain technology.

The European Commission is considering expanding MiCA regulations to include tokenization and non-EU stablecoin issuers, seeking stakeholder feedback until Sept. 30.

EMURGO, the founding entity of Cardano, has stepped down from Pentad governance following a wallet exploit that exploited a flaw in the wallet's address generation system, resulting in a loss of 16 million ADA valued at $2.4 million.

Strategy sold 3,588 BTC last week, with CF Benchmarks indicating that ongoing sales could become a concern if they cease to be a voluntary action. Analysts are monitoring the potential impact of continued Bitcoin sales by Strategy.

BNB Chain is developing a new Layer 1 blockchain for agentic trading, featuring sub-50ms preconfirmation and no public mempool. The project aims for a testnet launch by late 2026 and a mainnet release by 2027.