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Russia’s regulated cryptocurrency exchanges could process more than $46 billion in trading volume during their first year after legalization, based on an estimate from the country’s largest bank, Cointelegraph reported.
Bitcoin’s rally to around $79,000 lifted Strategy’s 840,447 BTC holdings roughly $2.8 billion above cost. Michael Saylor’s “We’re Back” post prompted speculation that the company could resume buying, though no purchase was confirmed.
The US Treasury plans to borrow $739 billion from July through September while buying back some older bonds. CryptoSlate says the new debt issuance could absorb liquidity before the impact of buybacks reaches Bitcoin and other risk assets.
Bitcoin ETF inflows posted a $201.9 million reversal after a roughly $3 billion streak, but the week remained positive. Ethereum, XRP and Solana continued to see buying, according to CryptoSlate.
US spot Ethereum ETFs appeared to launch with $10.36 billion in assets, but CryptoSlate’s review of filing data found that most came from ETH already held by Grayscale’s older trusts rather than new institutional buying.
US spot Bitcoin ETFs posted $201.8 million in net outflows Friday, ending a nine-day inflow streak. ARK 21Shares led withdrawals, while total ETF assets fell below $100 billion as Bitcoin dipped under $78,000.
Bitcoin’s rally slowed Friday after the Federal Reserve chief said inflation was too high. Bitcoin Magazine linked the earlier advance to roughly $3 billion in speculative flows into exchange-traded investment vehicles tied to the cryptocurrency.
Ethena plans to extend USDe’s basis strategy into equity perpetual futures, targeting funding yields more than five times Bitcoin’s. The announcement comes as equity perpetual open interest reaches about $6.2 billion.
IBIT regained key weekly options expiries in Q3 after a Tier 2 rule overhaul lowered eligibility thresholds to $25 billion in AUM and 5 million monthly options sides, according to CryptoSlate.
Ethena, issuer of the $4 billion USDe token, expects real-world asset perpetuals to become a larger part of its backing than crypto derivatives within 12 to 24 months, as equity perpetuals gain momentum.
California’s Senate passed a bill seeking to block listings of memecoins issued by federal public officials for state residents. Cointelegraph said the proposal cites conflicts of interest and potential “pay-to-play arrangements.”
HMRC’s first breakdown shows 17,600 UK taxpayers declared £1.38 billion in crypto gains. Just 240 crypto millionaires accounted for more than half, with most filers under 55 and 87% men.
About $6.4 billion in Bitcoin options are due to expire in Deribit’s Friday settlement, representing nearly one-fifth of the exchange’s BTC open interest. Max pain is well below Bitcoin’s current trading level.
Public Citizen estimates investors lost $4.7 billion through Trump-linked crypto ventures, while saying USD1 stablecoin holders have not suffered major losses. The claims draw attention to WLFI, USD1 and TRUMP.
Bitcoin and crypto assets gained with U.S. stocks after Nvidia’s second-quarter earnings beat expectations by about $4 billion. Bitcoin is drawing attention around the $81,000 level as risk assets strengthen.
