SBI Holdings Denies Filing Crypto ETFs, Says Products Still in Planning Stage

Japanese financial services conglomerate SBI Holdings denied media reports that the company had filed for crypto-related exchange-traded funds (ETFs).  Media reports circulated Wednesday saying SBI had filed an ETF application for two products: a dual gold and crypto ETF and a dual Bitcoin (BTC) and XRP (XRP) ETF.  The stories cited the company’s earnings report….

Early Bitcoin Buyers Unlikely To Be Rich Today, Says Trader

The odds of an early Bitcoin investor buying the cryptocurrency when it was worth only a few cents and keeping those holdings until today to become a billionaire are extremely low, a crypto trader said. The trader, known as Techdev, shot down the notion that many traders could’ve held onto Bitcoin (BTC) from its early…

Dogecoin Surges 8% as Whale Buying Signals Bullish Breakout

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX,…

Paxos Settles with NYDFS for $48.5 Million

Update Aug. 7, 9:06 pm UTC: This article has been updated to add a response from Paxos. The New York Department of Financial Services (NYDFS) reached a $48.5 million settlement with crypto infrastructure company Paxos over its partnership with Binance and alleged failure to uphold sufficient anti-money laundering provisions. Paxos agreed to pay New York…

Ether Surge Signals Major ‘200%-500%’ Altcoin Rally: Trader

Ether has continued to hold strength, signalling that altcoins may be gearing up for an explosive rally of up to 500% as early as October, said a crypto analyst. However, not all traders are convinced Ether’s (ETH) current uptrend will last. Altcoins may start posting gains by October MN Trading Capital co-founder Michaël van de…

Memecoin Group Linked To Sex Toys Thrown At WNBA Games

Two men have reportedly been arrested for allegedly throwing sex toys during Women’s National Basketball Association (WNBA) games, a controversial prank which a memecoin group has taken responsibility for. Five incidents of sex toys, mainly green in color, being thrown onto the court during WNBA matches have occurred in the past two weeks, the last…

What Happened In Crypto Today

Today in crypto, US President Donald Trump said he will nominate Stephen Miran to temporarily fill the Federal Reserve seat vacated by Adriana Kugler; the White House disclosed plans for an executive order directing agencies to open 401(k) plans to crypto assets; and shares of Bitcoin miner IREN rose about 11% after it reported mining…

EU banks must hold 12.5x capital against BTC under new rules

The European Banking Authority (EBA) has finalized draft rules requiring banks to hold significantly more capital against so-called “unbacked” cryptocurrencies like Bitcoin and Ether. In its final draft of regulatory technical standards released on Tuesday, the EBA said the rules aim to “address implementation aspects and will ensure harmonisation of the capital requirements on crypto-asset…

Roman Storm’s Early Passion for Code Led to Tornado Cash — and a Guilty Verdict

Roman Storm, the Tornado Cash co-founder and developer, found an interest in computer software at a young age after his parents bought him a personal computer. Now, at 36 years old, he holds a guilty verdict for operating an unlicensed money-transmitting business, issued by a jury on Wednesday. He remains in limbo as prosecutors could…

Vitalik Buterin Backs ETH Treasury Firms But Warns Of Risks

Ethereum co-founder Vitalik Buterin has thrown support behind so-called Ether treasury companies, but warned the trend could spiral into an “overleveraged game” if not handled responsibly. In an interview with the Bankless podcast released on Thursday, Buterin said the growing number of public companies buying and holding Ether (ETH) was valuable as they expose the…