CoinPhoton

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Eligible participants can earn leaderboard points by completing campaign tasks such as following the required accounts, publishing original posts about Babylon Trustless Bitcoin Vaults, and trading at least $10 worth of $BABY . Participants must complete each task type at least once to qualify for the leaderboard.
The campaign runs from July 23, 2026, at 09:00 UTC to August 5, 2026, at 23:59 UTC. Rewards are distributed based on points earned, while campaign rules prohibit copied content, irrelevant engagement farming, suspicious views, and bot activity.
Campaign page: https://www.binance.com/en/square/creatorpad/baby
@BabylonLabs_io $BABY $BABY
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BitMEX to Close Crypto Exchange in September
BitMEX will shut down its cryptocurrency derivatives exchange on September 23, 2026, at 04:00 UTC following a strategic review of its business and the wider crypto market.
The exchange has stopped accepting new account registrations. From August 26, users will no longer be able to open new positions and will only be permitted to reduce or close existing ones. BitMEX may gradually force-close positions during the wind-down, while any positions remaining at the closure time will be closed automatically.
Users are being urged to withdraw their funds before the deadline. Accounts with remaining balances after the closure may be charged either $50 or 1% annually, whichever is higher.
Customers will still be able to access account balances, transaction histories and withdrawals after trading services end. BitMEX also warned users about potential phishing scams and possible withdrawal delays caused by additional security checks or blockchain congestion.
Founded in 2014, BitMEX was an early leader in crypto derivatives and helped popularize perpetual swaps with leverage of up to 100 times.

Bitcoin Holds Above $65,500 as ETF Inflows Continue
Bitcoin traded above $65,500 after U.S. spot Bitcoin ETFs recorded a sixth consecutive session of net inflows, attracting roughly $779 million since July 13. The funds added $203 million on Tuesday alone, while spot Ether ETFs brought in another $37.5 million.
Analysts see $68,000 as the next major resistance level, where many short-term holders who bought over the past five months would return to breakeven. A first test of that level could trigger heavy selling.
Despite improving ETF flows, institutional positioning remains cautious. CME open interest is near its lowest level since October 2023, and much of the recent demand has been concentrated in BlackRock’s IBIT rather than spread across the broader ETF market.
Bitcoin must hold support near $63,000 and continue attracting sustained inflows to strengthen the case for a broader recovery. A hawkish Federal Reserve or renewed inflation pressure from rising oil prices could still weaken momentum.
$BTC

Balance Stablecoin Crashes 99% After $1 Million Exploit
Balance Coin, an algorithmic stablecoin designed to maintain a $1 peg, collapsed more than 99% to around $0.0014 after an attacker exploited a pricing flaw in its lending protocol.
According to SlowMist, the attacker manipulated the protocol’s oracle to submit an artificially low Bitcoin price. The lending contract accepted the false data without sufficient validation or a liquidation delay, allowing the attacker to liquidate vaults that should have remained safe.
The exploit drained roughly $912,000 from 42DAO, the governance entity behind Balance Protocol, in a single transaction. The attack erased nearly all of the stablecoin’s approximately $3.5 million nominal market value and highlighted the risks of weak oracle controls in DeFi lending systems.

XRP Whales Accumulate as Retail Holders Sell
XRP has gained more than 8% over the past five weeks, climbing back above $1.16 as large holders increased their positions while smaller investors sold.
According to Santiment, wallets holding between 100,000 and 100 million XRP expanded their balances by 2.8% during the period. Meanwhile, the smallest wallets reduced their holdings by 5.2%.
Santiment said the divergence supports a bullish outlook, as XRP has historically tended to move with major stakeholders and against smaller retail wallets.
The rebound has also been supported by expectations for broader institutional access through potential ETF products, continued payment and tokenization activity on the XRP Ledger, and growing use of the RLUSD stablecoin.
$XRP

Benchmark Raises Hut 8 Price Target to $195
Benchmark Equity Research has raised its price target for Hut 8 from $165 to $195 after the company fully commercialized its Beacon Point AI data center campus in Texas.
Hut 8 recently signed a second 15-year lease worth $9.8 billion, doubling the tenant’s contracted capacity at Beacon Point to 704 MW and lifting the campus’ total contract value to $19.6 billion.
The company now has 949 MW of AI data center capacity under contract. Beacon Point’s two phases are expected to generate average annual net operating income of about $1.31 billion.
Benchmark’s valuation also includes Hut 8’s 10,278 BTC, worth nearly $680 million, and its 60% stake in American Bitcoin.
With Hut 8 shares trading near $111 after gaining almost 120% this year, the new target implies approximately 75% further upside.

AFX Trade Exploited for $24 Million on Arbitrum
AFX Trade has suffered an exploit that drained approximately $24.15 million in USDC from a bridge operated by the protocol, according to blockchain security firm Blockaid.
PeckShield reported that the attacker transferred the stolen funds from Arbitrum to Ethereum and converted them into 12,467 ETH, worth roughly $24 million.
Offchain Labs CEO Steven Goldfeder confirmed that the incident originated from a third-party protocol and said Arbitrum’s native bridge was not compromised. The Arbitrum team is investigating the attack and coordinating with AFX Trade.

Clarity Act Faces Democratic and Banking Opposition
A new 616-page draft of the US Senate’s Clarity Act has drawn support from the crypto industry but faces growing opposition from Democrats and major banking groups.
Democratic senators argue that the bill’s ethics provisions are too weak to address President Donald Trump’s existing crypto interests. The draft would restrict public officials and their spouses from launching or sponsoring digital assets, but it excludes other family members, requires no divestment and lets the restrictions expire in January 2029.
Several Democrats, including Ruben Gallego, Angela Alsobrooks, Cory Booker and Catherine Cortez Masto, have warned they will not support the bill without stronger rules covering conflicts of interest, consumer protection, illicit finance and market integrity.
Banks are also pushing back, arguing that the legislation does not adequately restrict stablecoin rewards that could pull deposits away from traditional lenders.
Crypto industry groups, meanwhile, praised the bill for protecting software developers and creating clearer federal rules for digital assets. The competing objections now cast doubt on whether the legislation can secure enough bipartisan support to pass the Senate.

South Korean Crypto Trading Volumes Plunge as Investors Shift to Stocks
Trading activity across South Korea’s five largest crypto exchanges has collapsed over the past year as retail investors increasingly turn to the booming stock market.
Combined average daily volume on Upbit, Bithumb, Coinone, Korbit and Gopax fell about 89% year-on-year, dropping from $2.82 billion in July 2025 to just $305 million in July 2026. Falling fee revenue has reportedly forced some smaller platforms to sell crypto reserves to raise cash.
Meanwhile, South Korea’s benchmark KOSPI index surged more than 114% over the 12 months through July 22, offering retail traders an attractive alternative to digital assets.
Analysts say the decline also reflects investor fatigue caused by repetitive crypto narratives and projects that failed to deliver. However, the market may be entering a structural transition rather than a permanent decline, with banks and financial institutions expanding into won-backed stablecoins, tokenized real-world assets and crypto exchange investments.

$589 Million in Bitcoin Leaves Binance as Investor Demand Returns
Bitcoin withdrawals from Binance have surged to their highest level in five months, signaling renewed accumulation as the cryptocurrency continues to trade above $65,000.
According to CryptoQuant data, investors withdrew 9,030 BTC—worth approximately $589 million—from Binance in a single day. This marks the exchange’s largest daily Bitcoin outflow since February 6, when 8,744 BTC was withdrawn.
Large exchange outflows are often viewed as a bullish signal because they suggest investors are moving Bitcoin into private wallets rather than keeping it readily available for sale. This can reduce the amount of BTC circulating on exchanges and potentially ease short-term selling pressure.
The increase in withdrawals follows Bitcoin’s recent market rally, which has brought demand back toward some of its strongest levels of 2026. Although the rally has slowed, Bitcoin has remained firmly above the $65,000 level, indicating that buyers are still supporting the market.
Exchange withdrawals alone do not guarantee an immediate price increase. However, sustained outflows can reflect stronger investor conviction, tighter available supply and a growing preference for long-term holding.
Similar withdrawal spikes have preceded major price moves in previous market cycles. If accumulation continues and broader market conditions remain supportive, Bitcoin could strengthen its momentum and make another attempt to reclaim the $70,000 level.

BIS Warns Stablecoins Are Driving “Digital Dollarization”
Dollar-backed stablecoins are creating a new form of digital dollarization that appears largely resistant to capital controls, according to research from the Bank for International Settlements.
After analyzing more than 130 economies, researchers found that stablecoin inflows and foreign-currency deposits both rise during periods of economic stress. However, unlike bank deposits, stablecoin activity showed little response to foreign-exchange restrictions, partly because transactions occur outside traditional financial channels.
The trend could weaken monetary sovereignty in emerging markets by allowing households and businesses to shift into dollars without using the banking system.
Stablecoin adoption is already accelerating in markets such as Nigeria and Latin America, where users increasingly rely on dollar-pegged tokens for remittances, cross-border payments and protection against currency depreciation.
The global stablecoin market has grown to roughly $310 billion, up from about $260 billion a year ago.

Telegram to Launch Native Self-Custody Crypto Wallet
Telegram plans to launch a native non-custodial Gram wallet this summer, potentially bringing self-custody crypto payments to its more than 1 billion monthly active users.
Founder Pavel Durov said the wallet will let users send cryptocurrency instantly and without fees while retaining control of their own assets. Telegram has not yet announced a specific launch date or detailed technical specifications.
The rollout follows The Open Network’s decision to rename Toncoin to Gram, reviving the token’s original name from Telegram’s 2018 blockchain white paper.
Even limited adoption across Telegram’s user base could make the wallet one of the largest gateways to peer-to-peer crypto payments and self-custody worldwide.

Pakistan Launches Dedicated Unit to Investigate Crypto Crime
Pakistan’s Federal Investigation Agency has created a specialized unit to investigate cybercrime, financial fraud and other illegal activity involving cryptocurrencies.
The new division will focus on criminal enforcement, while the Pakistan Virtual Assets Regulatory Authority will remain responsible for regulating the digital asset industry. Officials have also encouraged other government agencies to establish similar teams.
The move follows Pakistan’s rapid expansion of its crypto framework since PVARA was established in July 2025. The regulator has already approved licenses for major exchanges, including Binance and HTX.
Pakistan was ranked as the world’s third-largest crypto market by retail activity in late 2025, highlighting the government’s effort to strengthen oversight as adoption grows.

Bitcoin Rebounds as US Crypto Bill Progress Boosts Sentiment
Bitcoin briefly climbed above $67,000 on Tuesday as progress on the US CLARITY Act improved market sentiment and raised hopes of a broader crypto recovery.
Ether approached $1,950, while crypto-linked stocks posted strong gains. Coinbase rose 12%, American Bitcoin gained 14% and Cipher Digital jumped 17%.
The rally followed comments from US Treasury Secretary Scott Bessent that lawmakers were at the “1-yard line” on the CLARITY Act, which would clarify the regulatory roles of the SEC and CFTC.
Analysts also pointed to a potential rotation of speculative capital from AI stocks into crypto. The semiconductor sector recently entered a technical bear market after falling more than 20% from its peak, amid concerns over high valuations and excessive AI infrastructure spending.

Augustus Raises $180 Million to Build a Stablecoin-Native Clearing Bank
Augustus has raised $180 million at a $1 billion valuation to develop always-on banking infrastructure connecting traditional payment networks with stablecoins.
Tiger Global led the round, with backing from Hummingbird, QED and the founders of Nubank, Ramp, Circle and Deel.
The company is building an AI-native clearing bank designed to replace slow correspondent-banking systems with programmable, round-the-clock settlement. Rather than issuing its own stablecoin, Augustus plans to provide the infrastructure that lets banks, fintechs and crypto firms move money across conventional and blockchain-based payment rails.
Augustus already processes billions of euros annually through its regulated Finnish entity and serves institutions including Kraken. It also received conditional approval for a US national bank charter and plans to offer direct dollar clearing after securing final authorization.
The company will use the funding to expand across Latin America, Southeast Asia, the Middle East and Africa.

Russia Approves First Comprehensive Crypto Regulatory Framework
Russia’s State Duma has approved the country’s first comprehensive cryptocurrency law, with most provisions taking effect on September 1.
The legislation establishes rules for crypto exchanges, custodians, brokers, miners and other digital asset service providers. Only registered organizations will eventually be allowed to operate exchanges, although existing firms have until July 1, 2027, to comply.
Retail investors will be permitted to buy approved liquid cryptocurrencies through licensed intermediaries, subject to an annual limit of roughly $3,800 per platform. Qualified investors will face no purchase limits.
Crypto payments for domestic goods and services remain prohibited. However, companies may use digital assets for foreign trade settlements, including transactions with overseas counterparties, providing Russia with an alternative channel for cross-border commerce amid international sanctions.

Augustus Raises $180 Million to Build Stablecoin-Era Clearing Bank
Augustus has raised $180 million at a $1 billion valuation to build always-on payment infrastructure connecting traditional banking systems with stablecoin networks.
Tiger Global led the round, with participation from Hummingbird, QED and the founders of Nubank, Ramp, Circle and Deel.
Rather than issuing its own stablecoin, Augustus aims to replace slow correspondent-banking infrastructure with a federally chartered clearing bank supporting programmable payments and round-the-clock settlement.
The company already provides euro clearing through a regulated Finnish entity and processes billions of euros annually for financial institutions, including Kraken. It also received conditional approval for a US national bank charter in May and plans to offer direct dollar clearing after securing final approval.
Augustus will use the funding to expand across Latin America, Southeast Asia, the Middle East and Africa, where access to US dollar banking remains limited.

Movement Labs Files for Bankruptcy After MOVE Token Scandal
Movement Labs, the developer behind the Movement blockchain, has filed for Chapter 11 bankruptcy following months of governance disputes and controversy surrounding the launch of its MOVE token.
The company reported fewer than 1,000 creditors, assets of between $100,000 and $500,000, and liabilities exceeding $1 million. Its largest creditors include co-founder Rushi Manche, Anchorage Digital and the Delaware Division of Revenue.
Movement’s troubles began after a disputed market-making agreement allegedly gave one counterparty significant influence over MOVE’s supply. Around 66 million tokens were sold shortly after launch, contributing to a sharp price decline. Binance later banned the market-making account for alleged misconduct, while Movement launched a buyback and commissioned an external investigation.
The bankruptcy comes despite a recent attempt to pivot toward cross-border payments, remittances and stablecoin settlement amid growing competition in the Ethereum layer-2 market.

Anthropic AI Reportedly Disproves 87-Year-Old Mathematical Conjecture
An Anthropic AI model has reportedly produced a counterexample to a mathematical conjecture that had remained unresolved since 1939.
Number theorist Levent Alpöge credited Claude Fable 5 with finding a polynomial map whose Jacobian determinant is nonzero but sends three different inputs to the same output. Because the map is not one-to-one, it cannot be inverted, disproving the conjecture in the stated setting.
The result was quickly verifiable by hand, highlighting AI’s growing ability to contribute original work in advanced mathematics rather than merely summarize existing research.
The breakthrough also reinforces the market’s focus on artificial intelligence. Capital and investor attention that once flowed heavily into crypto are increasingly shifting toward chips, computing infrastructure and AI developers, while bitcoin continues to trade partly as a secondary play on the broader AI cycle.

Digital Chamber Sues Illinois Over New Crypto Transaction Tax
The Digital Chamber has sued Illinois over a last-minute provision imposing a 0.2% tax on digital asset transactions beginning in January.
The lawsuit argues that the Digital Asset Tax Act violates the US and Illinois constitutions and conflicts with the federal Internet Tax Freedom Act, which prohibits discriminatory taxation of electronic commerce.
The tax applies to Illinois-based businesses and service providers generating more than $100,000 in gross receipts. According to the filing, it taxes blockchain transactions regardless of whether they generate profits or losses or even involve a change in ownership.
The trade group says the law unfairly distinguishes between traditional financial infrastructure and blockchain-based systems. It is asking the court to declare the tax invalid, block its enforcement and award legal costs.