Summary
gm, Significant outflows hit ETFs despite price rebounds. Bitcoin and Ethereum showed resilience, with BTC maintaining around $114,000 while ETH recovered to $3,636 after record ETF outflows of $465 million. The SEC issued important regulatory clarity by exempting liquid staking activities from securities laws, a major win for DeFi platforms like Lido and Jito. Meanwhile, institutional developments continued with Coinbase announcing a $2 billion note offering for investments and share buybacks, and multiple companies including DeFi Development Corp, SharpLink, and BitMine aggressively expanding their crypto treasury holdings with substantial ETH and SOL purchases.

News Headlines
💰 BitMine Builds $3 Billion Ethereum Stash

  • Bitcoin miner BitMine Immersion has accumulated over $3 billion in Ethereum, purchasing 833,137 ETH at an average price of $3,491.86 per coin in just 35 days.
  • The firm, chaired by Tom Lee, is now the third largest public crypto treasury worldwide, highlighting a significant shift toward Ethereum among corporate investors.

📱 Solana Mobile Ships 'Seeker' Device to Over 50 Countries

  • Solana Mobile has begun shipping its second-generation crypto mobile device, the Seeker, to over 50 countries following pre-orders exceeding 150,000 units.
  • The device offers enhanced features including a secure seed vault for private key storage and a decentralized app store, projected to generate at least $67.5 million in gross revenue for Solana Mobile.

💻 Coinbase Launches Embedded Wallets Tool

  • Coinbase has introduced an Embedded Wallets tool through its Developer Platform, aimed at simplifying wallet onboarding and enhancing technical capabilities in the crypto space.
  • The tool provides customizable wallets, native USDC rewards, and a 4.1% APY on USDC balances without staking requirements, targeting gaming, payments, and Web3 social media sectors.

🧩 Ethereum Proposes Unified Fee Market to Simplify Transaction Costs

  • Ethereum co-founder Vitalik Buterin and developer Anders Elowsson have proposed EIP-7999, aiming to simplify the transaction fee structure by creating a unified multidimensional fee market.
  • The proposal would allow users to set a single aggregate maximum fee for transactions, streamlining fee management and enhancing user experience following significant fee reductions after the Dencun upgrade.

🏦 CoinDesk Owner Bullish Eyes $4.2B Valuation in IPO Backed by BlackRock, ARK

  • Bullish, a digital exchange operator and media company, is seeking to raise between $568 million and $629 million in an IPO, issuing 20.3 million shares at $28-$31 per share, potentially valuing the company at up to $4.2 billion.
  • Major institutional investors BlackRock and ARK Investment Management have expressed interest in purchasing up to $200 million worth of stock, signaling growing mainstream financial interest in crypto companies.

Market Metrics

Fundraising & VC
1. Verb Technology (Undisclosed, $558M) - Publicly traded treasury reserve vehicle for Toncoin
2. Triv (Strategic, Undisclosed) - Indonesia-licensed cryptocurrency and digital asset platform

Regulatory
💰 Philippines SEC Flags 10 Major Crypto Exchanges

  • The Philippines SEC has flagged 10 major crypto exchanges, including OKX, Bybit, KuCoin, and Kraken, for operating without required authorization under regulations effective July 5, 2025.
  • The SEC plans to pursue legal actions including cease and desist orders, and will work with tech platforms to restrict unauthorized services.

💱 Time for US to Lead Global Crypto Race, Says Industry Group

  • A crypto lobby group asserts that the US is positioned to regain leadership in the cryptocurrency sector following a White House report urging financial regulators to unify on digital asset regulations.
  • The report could signal an end to the jurisdictional battle between the SEC and CFTC regarding crypto classification and regulation.

🌎 Brazil Sets August Hearing for National Bitcoin Reserve

  • Brazil's House of Representatives will hold a hearing on August 20 to discuss a proposal for creating a national Bitcoin reserve that would allow investing up to 5% of treasury funds in Bitcoin.
  • The potential investment could amount to around $15 billion from the central bank's total reserves of approximately $300 billion, with six major institutions expected to participate in the hearing.

💰 GENIUS Act May Limit Stablecoins Amid Tokenization Boom

  • The GENIUS Act, while promoting stablecoin adoption, may hinder their appeal by banning yield-bearing stablecoins, potentially giving an advantage to tokenized money market funds (MMFs).
  • Despite this setback, stablecoins retain advantages as bearer assets, enabling easier access to decentralized finance services without complex management requirements.

🏛️ CFTC Seeks Input On Regulating Spot Crypto Trading

  • The CFTC has initiated a "crypto sprint" to enable trading of spot crypto asset contracts on CFTC-registered futures exchanges, implementing recommendations from President Trump's Working Group.
  • Public comments are being sought until August 18 on regulatory aspects, specifically regarding the definition and application of section 2(c)(2)(D) of the Commodity Exchange Act.

Technical Analysis
Bitcoin - Bitcoin has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The currency gave a negative signal from the rectangle formation by the break down through the support at 114242. Further fall to 110386 or lower is signaled. The currency has support at points 110000 and resistance at points 120800. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. Volume balance is also negative, which weakens the currency. The currency is overall assessed as technically negative for the short term.

Ethereum - Ethereum has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. The currency has support at points 2780 and resistance at points 3870. The currency is assessed as technically neutral for the short term.