Author: John Smith

Solana price fell about 5% from its July 27 high near $77 to $73 on July 28 as a break below short-term support triggered long liquidations. Summary SOL price dropped from roughly $77 to $73 after failing to sustain its latest recovery. Price has fallen below the $75 major pivot and remains inside a descending channel. The 4-hour RSI has declined to 35.57, showing weakening momentum without reaching oversold territory. Liquidation clusters near $72.50 and $74 could increase volatility around the current price. Solana price drops back toward $73 According to data from crypto.news, Solana (SOL) price traded near $73.20…

Ethereum price fell 5% from $1,973 to $1,873 on July 28 after another rejection below $2,000 triggered forced selling and pushed ETH into a key technical support zone. Ethereum price dropped below $1,900 after buyers failed to break the $1,975–$2,000 resistance zone. Leveraged positions accelerated the decline as ETH moved through several long-liquidation clusters. ETH is testing the lower boundary of a rising wedge near $1,870 on the 4-hour chart. The next large concentration of downside liquidity sits around $1,840–$1,850. Ethereum price falls below $1,900 after $2,000 rejection According to data from crypto.news, Ethereum (ETH) price traded near $1,875 at…

South Korean police have searched the home of former Incheon Mayor Yoo Jeong-bok and city offices as part of an investigation into allegations that cryptocurrency assets were omitted from his local election financial disclosure. Summary South Korean police searched former Incheon Mayor Yoo Jeong bok’s home and city offices over alleged cryptocurrency disclosure violations. Investigators are examining claims that about 21,000 crypto tokens were left out of mandatory election asset filings. Election authorities previously said Yoo’s reported assets were about 78 million won lower than his actual holdings. Police have questioned Yoo, his wife and other people linked to the…

Pennsylvania lawmakers have introduced a bipartisan bill that has proposed insider-trading rules for prediction markets while preventing sportsbooks and other gambling companies from supplying liquidity or acting as market makers for those platforms. Summary Pennsylvania lawmakers have introduced a bipartisan bill that would bar gambling companies from acting as liquidity providers or market makers for prediction markets. The proposal would also add insider trading rules, consumer protections, and age restrictions without creating a state licensing system. A separate Pennsylvania bill would require prediction market operators to obtain state licenses and pay a 22% tax on revenue. The legislation comes as…

Kraken parent Payward entered a definitive agreement on July 27 to acquire Magic Labs’ wallet-as-a-service business through an asset purchase. Summary Payward will acquire Magic Labs’ wallet business, adding infrastructure that has powered 60 million wallets. The wallet platform processed over $10 billion in stablecoin volume for more than 200,000 developers. Newton Labs will focus on pre-settlement policy checks after the transaction closes in coming weeks. The financial terms were not disclosed, and the companies expect the transaction to close within several weeks, subject to customary closing conditions. The deal covers Magic’s embedded, non-custodial wallet infrastructure rather than the entire…

Cantor Fitzgerald is advising Swiss digital asset lender AMINA Bank on a possible public listing as the Wall Street firm expands its role in crypto capital markets. Summary AMINA Bank is considering a public listing, although its valuation and preferred exchange remain undisclosed. Cantor’s mandate follows its onchain IPO partnership with Securitize, announced earlier in July. AMINA recorded 69% revenue growth in 2024 and holds regulatory approvals in Switzerland and Europe. Cantor is also reportedly pursuing a separate deal involving up to 30,000 Bitcoin from Blockstream. AMINA Bank considers a public listing According to reports, Cantor Fitzgerald is advising AMINA…

New York Attorney General Letitia James has urged Congress to revise the CLARITY Act, warning that the crypto market structure bill could restrict states from prosecuting fraud and enforcing investor protection laws. Summary James said the bill could preempt state investor protection laws and weaken local enforcement. State and local authorities account for about 98.8% of arrests nationwide, according to her testimony. Senate Republicans need 60 votes to advance the legislation through the cloture process. Banking, ethics and enforcement disputes remain unresolved before the Senate’s August recess. James challenges the CLARITY Act’s enforcement rules James raised the concerns in written…

X Money has begun rolling out to Premium and Premium+ subscribers in the United States, adding deposit accounts, instant transfers, and a Visa debit card directly to the social media platform. Summary X Money offers annual yields of up to 6% and free transfers between users. Eligible X Card purchases can earn 3% cashback, with free ATM withdrawals also available. A cash sweep program provides eligible users with up to $10 million in FDIC coverage. X has not announced support for Bitcoin, Dogecoin, or any other cryptocurrency. X Money brings banking tools inside the social platform X Money combines peer-to-peer…

Metaplanet plans to use its newly acquired Japanese brokerage to develop Bitcoin-backed bonds offering yields of roughly 4% to 6%, according to Benchmark. Summary Metaplanet envisions issuing Bitcoin-backed bonds yielding between 4% and 6%. Its JPY 2.1 billion Siiibo Securities acquisition provided a regulated Japanese securities platform. Future Bitbonds could move onchain with stablecoin settlement and trade on a secondary market. Benchmark maintained its Buy rating and JPY 405 price target for Metaplanet stock. Metaplanet Securities could become a Bitbond platform Benchmark analyst Mark Palmer argued that investors have underestimated the importance of Metaplanet’s acquisition of Siiibo Securities, which closed…

Senate Republicans are seeking Democratic support for the Clarity Act as lawmakers consider starting a floor process before the August recess. Summary The Clarity Act needs 60 Senate votes to advance through the chamber’s cloture process. Senate Majority Leader John Thune could file cloture on a motion to proceed this week. Seven Democratic senators said the revised bill still falls short on several policy issues. A major US police union has endorsed the bill after lawmakers revised its DeFi provisions. Clarity Act faces a 60-vote Senate test Crypto industry groups hope Thune will begin the floor process by filing cloture…