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Crypto Roundup: US Bitcoin Reserve Stalled, Visa Stablecoins, and AI Developments
A roundup of crypto news includes the stalled US Bitcoin reserve, JPMorgan's view on Strategy holdings, a leak of Suno data sources, a new Bitcoin client opposing BIP-110, quantum protection proposals, Visa's stablecoin platform for banks, Eric Trump-backed AI robotics, corporate AI security gaps, and Moonshot AI's open-source model Kimi K3.
ECB Warns Stablecoin Growth May Drain Bank Deposits, Pushes Digital Euro
The European Central Bank warned that rising stablecoin usage could lead to retail deposit outflows from banks, as executive board member Piero Cipollone noted banks are already losing fees and payment data. The ECB sees the digital euro as a solution to preserve banks' role and reduce reliance on foreign systems.
Russia Revises Crypto Transfer Blocking Mechanism, Removes Public Violator Lists
The Russian State Duma's financial market committee has removed public lists of violators from a bill on blocking transfers linked to illegal crypto turnover, replacing them with the concept of 'unauthorized recipient'. Each bank will define the criteria in internal rules, and the bill is scheduled for second reading on July 21.
Scott Melker Dismisses Strategy Liquidation and Coinbase Collapse Fears, Suggests Bitcoin Bottom
Crypto trader Scott Melker called the Strategy liquidation and Coinbase collapse narratives '99% stupid' and said panic may signal a Bitcoin bottom.
Ordinals Developer Launches Bitcoin Client DOG Mode, Bypassing BIP-110 Restrictions
An Ordinals developer released a Bitcoin client called DOG Mode that removes Core's limits on transaction size and minimum output, easing the inscription of Ordinals and Runes. The change affects peer-to-peer relay rules, not consensus, and only requires one miner to include such transactions in a block.
Cointelegraph Research and 8lends Report on Crypto Credit Structures
A new report from Cointelegraph Research and 8lends examines the different foundations of crypto credit, comparing CeFi lending, DeFi pools, tokenized Treasuries, and RWA private credit in terms of custody, collateral, and enforcement.
Project Eleven Prototype to Prove Bitcoin Ownership Post-Quantum
Project Eleven has presented a prototype that would allow Bitcoin owners to prove ownership after quantum computers become capable of forging digital signatures. The mechanism is not yet live on the Bitcoin network, has not undergone audits, and would require a protocol change.
HTX Reports $870B+ Trading Volume in First Half of 2026
Crypto exchange HTX disclosed a combined spot and futures trading volume of $870.9B for H1 2026, with registered users reaching 59.49M.
Trump’s Bitcoin Reserve Order Sparks Global Debate
In March 2025, President Trump signed an executive order establishing a Bitcoin reserve. The industry initially cheered, but analysis reveals the US structure differs from expectations and many countries are still discussing rather than acting.
JPMorgan: Strategy's $3B Dollar Reserve Positive Signal for Bitcoin
JPMorgan analysts view Strategy's increased dollar reserve as a hopeful signal for Bitcoin, reducing the risk of forced crypto sales to fund dividend payments.
US Senate Votes Against Pardon for Sam Bankman-Fried
The U.S. Senate unanimously passed a resolution opposing any pardon or sentence reduction for former FTX CEO Sam Bankman-Fried, who is currently serving a 25-year prison term for fraud.
Bitcoin Holders Reduce Loss-Selling, Glassnode Sees Early Signal
Bitcoin holders who bought in 2024–2025 are selling at a loss less frequently, a pattern that historically precedes the end of a sell-off. Glassnode calls it an early signal but not a bottom confirmation, with $69,000 as the next key level.
Stanford Researchers Find Manipulation in Polymarket Bitcoin Contracts
Researchers from Stanford University and Singapore Management University found signs of manipulation in 5-minute Bitcoin contracts on Polymarket. They estimate 821 wallets gained $8.22M, while retail and other traders lost $7.61M.
Base Creator Admits Social Media Strategy Failed
Jesse Pollak acknowledged that his bet on social products as a mass adoption driver for crypto was wrong, with the Farcaster, Zora, and creator token ecosystem "completely collapsing." Base will now pivot to becoming a blockchain for global finance.
AMLA Head Warns of Risks After MiCA Transition Period Ends
AMLA Chief Bruna Szego warns that mass client migration could overload the EU crypto market post-MiCA. Both departing and newly licensed VASPs face increased AML screening burdens.
DeFi Platform SummerFi to Shut Down After $6M Hack
DeFi platform SummerFi is ceasing operations and will disable its user interface after seven years, citing a recent hack that resulted in a loss of approximately $6 million. No shutdown timeline or details on user funds have been announced.
Crypto Digest: EthSystems, Japan Regulation, Coinbase AI, CFTC Ruling
Key crypto updates: Ethereum Foundation alumni launch privacy service EthSystems, Japan recognizes crypto assets as financial instruments, Coinbase reveals 95% of exchange code written by AI, and CFTC blocks Kalshi trade cancellations.
Eightlends Default Case Validates Tokenized Credit Enforcement
Eightlends parent Maclear AG recorded a default on a €150,000 loan to Italian firm Vibroedil, which entered insolvency in July 2025. Collateral recovery under Italian law fully covered investor principal, demonstrating enforceability of tokenized credit.
ISO Standardizes Post-Quantum Algorithm Classic McEliece for Asymmetric Encryption
The International Organization for Standardization (ISO) has included the Classic McEliece post-quantum algorithm in an international standard for asymmetric encryption, paving the way for wider adoption to defend against future quantum computing attacks.
Xapo CEO Warns Two Companies Pose Concentration Risk to Bitcoin
Xapo CEO Seamus Rocca says two companies represent the biggest concentration risk to Bitcoin, and that perception alone could trigger a major market shock.
Fed's Kevin Warsh Calls AI Disinflationary, Crypto ETFs See $181M Inflow
Federal Reserve's Kevin Warsh told Congress that AI is a disinflationary force but stopped short of declaring victory over inflation. Meanwhile, spot Bitcoin ETFs attracted $181 million on July 14 after a $425 million outflow, with BlackRock's IBIT leading at $139 million.
Robinhood Chain Volumes Surge, Renewing Debate on ETH Demand from L2 Growth
Robinhood Chain's surging volumes have reignited the core debate over whether Layer 2 activity can translate into lasting demand for Ethereum's native token, ETH.
Democratic Senators Oppose CLARITY Act Without Anti-Corruption Provisions
Three Democratic senators have come out against the current version of the CLARITY Act, demanding a ban on crypto ownership and promotion for the president, members of Congress, senior officials, and their families. The vote is expected the week of July 20 and needs 60 votes to pass a procedural hurdle.
BitMine Posts $45.7M Staking Revenue, Net Loss of $83.6M for Quarter
BitMine generated $45.7 million from staking in the quarter, accounting for 98% of total revenue, while Bitcoin mining brought in $624,000 and consulting services $168,000. The company reported a net loss of $83.6 million.