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The crypto market will welcome tokens worth more than $704.5 million in the fourth week of July 2026. Major projects, including LayerZero (ZRO), Humanity (H), and Kaito (KAITO), will release significant new token supplies.
These unlocks could introduce market volatility and influence short-term price movements. So, here’s a breakdown of what to watch.
1. LayerZero (ZRO)
Unlock Date: July 20
Number of Tokens to be Unlocked: 25.71 million ZRO
Released Supply: 558.5 million ZRO
Total Supply: 1 billion ZRO
LayerZero is an interoperability protocol that connects different blockchains. Its primary goal is to facilitate seamless cross-chain communication. Thus, it enables decentralized applications (dApps) to interact across multiple blockchains without relying on traditional bridging models.
The team will unlock 25.71 million tokens on July 20, representing 4.6% of the released supply. Moreover, the supply is worth approximately $20.3 million.
ZRO Crypto Token Unlock in July. Source: Tokenomist
LayerZero will award 13.42 million altcoins to strategic partners. Core contributors will get 10.63 million ZRO. Lastly, 1.67 million ZRO are for tokens repurchased by the team.
2. Kaito (KAITO)
Unlock Date: July 20
Number of Tokens to be Unlocked: 17.6 million KAITO
Released Supply: 409.47 million KAITO
Total Supply: 1 billion KAITO
Kaito is an artificial intelligence (AI)-powered Web3 information platform that aggregates and analyzes cryptocurrency market data from diverse sources like social media, governance forums, news, and more. The KAITO token serves as a medium of exchange, governance tool, and incentive mechanism within the platform.
On July 20, the team will unlock 17.6 million tokens, representing 4.3% of the current released supply. The supply is worth approximately $16.5 million.
KAITO Crypto Token Unlock in July. Source: Tokenomist
The foundation will receive 1.19 million tokens. Core contributions will get 6.94 million tokens. Furthermore, early backers will receive 2.31 million KAITO. Finally, the team will direct 7.16 million KAITO for ecosystem and network growth.
3. Humanity (H)
Unlock Date: July 25
Number of Tokens to be Unlocked: 266.47 million H
Released Supply: 3.1 billion H
Total supply: 10 billion H
Humanity (H) is a decentralized identity protocol that utilizes biometric palm recognition, zero-knowledge proofs, and blockchain to verify the authenticity of real human users without exposing their personal data. It features a native Proof of Humanity (PoH) consensus mechanism.
On July 25, the protocol will unlock 266.47 million tokens. The tokens are worth $15.6 million and also account for 8.6% of the released supply.
H Crypto Token Unlock in July. Source: Tokenomist
The team will split the released supply six ways. Investors will get 55.56 million H. The ecosystem fund will receive 50 million H.
Furthermore, Humanity will allocate 42.86 million altcoins to identity verification rewards and 26.39 million H to Human Institute Strategic Reserve. Lastly, the foundation operations treasury will gain 12.50 million tokens.
In addition to these, other prominent unlocks investors can look out for in the fourth week of July include Plasma (XPL), Undeads Games (UDS), Soon (SOON), and more, which will contribute to the total market-wide releases.

Coinbase (COIN) CEO Brian Armstrong dismissed billionaire investor Chamath Palihapitiya’s warning that artificial intelligence (AI) demand threatens Bitcoin (BTC) mining. Armstrong said the network’s automatic difficulty adjustment keeps price disconnected from hash power.
Palihapitiya argued miners could earn 10 to 20 times more by selling that same energy to AI operators instead. He called the shift structural, though he admitted he could be wrong.
Chamath’s Bitcoin Mining Energy Warning
Palihapitiya, the Social Capital founder, posted on X that crypto faces two problems right now. Marginal liquidity, he said, would rather chase prediction markets and equities than Bitcoin. That claim lines up with data showing prediction market volume behaves like retail stock trading. Daily activity there often tops $300 million.
His second point centered on mining economics. Redirected toward AI workloads, he argued, that same energy earns far more.
A recent piece on Bitcoin’s energy and infrastructure business quoted executives who described miners chasing AI hosting deals. Historically, hash rate and Bitcoin price moved together, but Palihapitiya says AI demand breaks that link. He called the liquidity shift temporary. Still, he flagged the energy trade-off as more durable.
Interesting point. The first one feels temporary.The second one more durable. But hash power or energy going to Bitcoin mining doesn't determine its price (the network difficulty adjusts if miners go offline to keep the same pace of block mining). Long term, Bitcoin price is…
— Brian Armstrong (@brian_armstrong) July 20, 2026
Armstrong Says Bitcoin Price Ignores Hash Power
Armstrong replied that hash power leaving Bitcoin does not set its price. The network’s difficulty adjustment resets automatically, he explained. Blocks then keep arriving roughly every ten minutes, even when miners go offline.
Long term, Bitcoin price is mostly a measure of how much people fear inflation, and there seems to no end in sight to democracies everywhere running deficits.
— Brian Armstrong, X
He tied Bitcoin’s value to sovereign deficits instead of hash power. His comments echo recent remarks framing BTC as digital gold instead of an everyday payments network.
Capital Rotation Meets Corporate Demand
Bitcoin traded near $64,397 Monday, down roughly 45% from its October 2025 peak, live BeInCrypto data shows. However, its market capitalization still sits near $1.29 trillion, the largest of any cryptocurrency. Early 2026 fund flows already revealed capital rotating beyond Bitcoin toward Ethereum, XRP, and Solana.
Corporate demand offers a counterweight, though. Michael Saylor recently called corporate Bitcoin adoption inevitable, citing efficiency and scale no individual investor can match. That institutional appetite has kept building even as mining economics shift toward AI.
Armstrong views the liquidity rotation as temporary. Palihapitiya remains unconvinced about the mining trade-off. Mining hashrate and fund flow data in the coming weeks should reveal which read holds up better.

Le prix de XRP est en retard sur celui du Bitcoin et reste coincé dans un canal baissier, pourtant l’un de ses plus grands marchés le traite tout autrement. Les traders coréens appliquent une forte décote au Bitcoin bien plus marquée que celle qu’ils appliquent en vendant du XRP.
Ce clivage est l’histoire. XRP évolue encore avec le Bitcoin au jour le jour, donc il a besoin du soutien du leader, mais la vente coréenne, plus modérée, laisse entendre que ses détenteurs n’ont pas renoncé.
XRP continue de bouger avec le Bitcoin, mais de façon plus faible
Au cours des 30 derniers jours, XRP et Bitcoin ont évolué presque en parfaite synchronisation, avec une corrélation des rendements journaliers de 0,88. Donc l’idée que XRP s’est détaché du Bitcoin ne tient pas. Il monte et baisse avec le leader.

SpaceX a reprogrammé le 13e vol d’essai de sa fusée Starship au jeudi 23 juillet. Une défaillance d’allumage du moteur Raptor 3 a forcé un arrêt automatique de la tentative précédente.
L’échec a déclenché une nouvelle glissade du titre de SpaceX (SPCX). La fusée transportera pour la première fois 20 satellites Starlink V3.
SpaceX reporte le vol 13 de Starship au jeudi
SpaceX a confirmé la nouvelle fenêtre de lancement dans une publication sur X lundi.
Désormais, l’objectif est de lancer l’essai en vol n°13 de Starship dès le jeudi 23 juillet → https://t.co/Rp7VwBzpWx pic.twitter.com/Y0YNzfc5zk

South Korea’s financial authorities have investigated 40 crypto market manipulation cases since the country’s user-protection law took effect in 2024, referring more than 30 to investigative agencies.
The Financial Services Commission’s Chairman shared the figures to mark the law’s second anniversary. The cases exposed 25 suspects across two years of enforcement.
Korea’s Virtual Asset User Protection Act Marks 2 Years of Enforcement
South Korea passed the Virtual Asset User Protection Act on July 19, 2024. The measure gave regulators dedicated tools to punish abuse in the crypto market.
The Financial Services Commission then built a specialized investigation unit. It later added digital forensics and refined the operation of the penalty surcharge system.
That buildout produced roughly 40 completed investigations. Regulators also referred more than 30 confirmed cases to investigative agencies for prosecution.
“Financial authorities plan to keep strengthening efforts to stamp out unfair trading in the virtual asset market, including using AI to improve the efficiency of market surveillance and investigations,” the notice read.
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Average illicit gains reached about 1.4 billion won per case. Meanwhile, eight cases ranged from 500 million to 5 billion won, and one exceeded 5 billion won.
Regulators also imposed penalties of 125% to 165% of illicit gains in two cases. The authorities framed the results as a base for rebuilding market trust.
However, regulators signaled the work is far from finished. They plan to introduce account and bank-account payment suspension powers to block hidden proceeds.
A reporting and reward system for unfair trading is also under review for the second-phase legislation. Authorities intend to expand AI-based market surveillance alongside these measures.
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Le prix du token Pump.fun (PUMP) a atteint lundi un plus haut sur deux mois, alors que le trader crypto Ansem a révélé une nouvelle position sur le token et a exposé un scénario haussier pour le lancement de Solana (SOL) via la plateforme.
Le mouvement a prolongé une reprise amorcée dimanche, lorsque PUMP est passé d’environ 0,0016 $ à 0,0019 $ sous l’impulsion d’une monnaie mème virale qui a attiré l’attention sur la plateforme.
La hausse de type PUMP se poursuit pour une deuxième journée après l’entrée d’un trader de premier plan, Ansem
Les gains de dimanche ont coïncidé avec une frénésie de monnaie mème autour de Jimothy The Raccoon (JIMOTHY). Le token a grimpé de 186 % en 24 heures, pour atteindre une capitalisation boursière d’environ 11 millions de dollars.

La victoire 1-0 de l’Espagne en prolongation contre l’Argentine lors de la finale de la Coupe du monde de la FIFA a divisé les traders du marché de prédiction en ligne entre gagnants et perdants. Une baleine anonyme a misé 1,35 million de dollars, tandis que le rappeur Drake a perdu un pari crypto de 1,5 million de dollars.
La Coupe du monde de la FIFA 2026 est devenue un moteur majeur des marchés de prédiction crypto. Des traders sur Polymarket et Kalshi ont injecté des millions dans des contrats liés à la Coupe du monde tout au long du tournoi, et la finale a apporté une nouvelle vague de gagnants et de perdants.
Une baleine a transformé un pari de 1,95 million de dollars sur l’Espagne en 3,3 millions de dollars

Kalshi has added three million new users during the 2026 FIFA World Cup, the prediction market platform told CNBC. Trading volumes across the platform also surged alongside the tournament.
More than $1.2 billion has traded on Kalshi’s contract predicting the World Cup winner, a record for a single market on the platform. That market closed Sunday, when Spain beat Argentina in the final, 1-0.
A Marketing Blitz Built for the World Cup
Kalshi leaned on soccer’s global reach to fuel the surge. Vijay Viswanathan, associate dean of integrated marketing communications at Northwestern University, said football’s presence in nearly every country gives it an addressable market few other events can match.
The platform partnered with ADI Predictstreet, FIFA’s official prediction market sponsor, for stadium co-branding deals during the tournament. Meanwhile, it also worked with OpenAI to surface its odds inside ChatGPT searches, alongside campaigns featuring soccer stars Luka Modric and Jose Mourinho, plus a partnership with the Argentina national team.
🚨🏆Spain 1-0 Argentina. Extra time. Ferran Torres 106'.Messi's last World Cup game ended with a red card to a teammate and a trophy going to Spain.Kalshi had Spain at 58% this morning. Drake had $1.5M on Argentina.The market wins again.📊 https://t.co/laurHsS0nU pic.twitter.com/9tHIHjiHOE
— 𝐌𝐈𝐂𝐇𝐀𝐄𝐋 𝐎𝐋𝐈𝐏𝐇𝐀𝐍𝐓 (@MichaelOliphant) July 19, 2026
Kalshi CEO Tarek Mansour said the strategy prioritizes speed and relevance over volume alone.
“Our volumes are where the news is at.”
— Tarek Mansour, CNBC
Prediction Markets Still Face Regulatory Concerns
Despite the popularity, and the boom from the World Cup, predictions markets carry regulatory risk. Sports event contracts remain caught in a dispute between the federal government and several states, which argue the contracts function as sports betting. That fight has already produced a CFTC lawsuit against Kentucky this year.
In contrast, Brian Sung, a partner at law firm Haynes Boone, said the marketing push does not sway how courts might rule, but it shapes how regulators and the public view prediction markets.
Other bettors have felt the swings too. One Polymarket trader lost $11.6 million on World Cup wagers in early July, while rapper Drake has a five million dollar wager riding on Sunday’s final.
Kalshi now faces a familiar test. Volume drops on days without matches, a pattern Mansour said has repeated after past major events.
He expects fresh catalysts, not a slowdown, to keep prediction market volume climbing once the World Cup ends.

L’or a réussi à se hisser à 4 000 dollars l’once lundi, après avoir passé le week-end juste sous ce seuil psychologique clé. Le Brent a bondi au-delà de 90 dollars le baril et des responsables de la Réserve fédérale ont plaidé pour une hausse des taux en juillet.
Le métal a enregistré une perte hebdomadaire de 2,5% la semaine dernière. L’or est brièvement passé sous le seuil de 4 000 dollars, un niveau qu’il avait franchi pour la première fois fin juin, pour la première fois depuis novembre 2025.
Le choc pétrolier relance les craintes inflationnistes
Les États-Unis ont mené une neuvième nuit consécutive de frappes contre l’Iran. Deux personnels américains sont morts en Jordanie, et des alliés ont fait état de nouvelles attaques iraniennes dimanche.

South Korea’s KOSPI index reopened lower on July 20, its first session since Friday’s Constitution Day holiday. The index slid as low as 6,498 points before paring some losses.
The drop pushed the index more than 25% below its June peak, meeting the threshold for a technical bear market. Chip-sector jitters compounded with an escalating US-Iran conflict to drive the slide.
Chip Stocks Swing Hard on Reopening
Samsung Electronics and SK Hynix stock both opened down more than 5% before foreign investors moved in. The Philadelphia Semiconductor Index shed 4.3% while Korean markets stayed shut for the holiday last Friday. Rising competition from Chinese AI models added further pressure on the memory chip trade.
After not trading last Friday, the Kospi returned today, dropping sharply from its last close. Image Source: Trading View
Foreign investors net bought 278.4 billion won ($187.1 million) in early trading, concentrated in electronics stocks. Retail investors net sold 300.8 billion won over the same window. Han Ji-young, a researcher at Kiwoom Securities, said the decline reflects how far leading stocks have fallen.
“Since July, the KOSPI has dropped by about 25% from its peak, entering a technical bear market. A sharp decline of 30–40% in leading stocks such as Samsung Electronics, SK Hynix, and Samsung Electro-Mechanics is amplifying the sense of decline.”
Won Slides as Middle East Risk Builds
The won-dollar rate opened at 1,488.3, extending its slide while oil prices climbed on fears that the conflict could disrupt the Strait of Hormuz. The stronger dollar added to import-price pressure already building after the Bank of Korea’s first rate hike since 2023.
Analysts see this week’s US hyperscaler earnings as the next catalyst. Alphabet reports July 22, with Microsoft, Meta, and Amazon following before month’s end. Their capital spending outlooks could determine whether chip stocks find a floor or extend the slide.

Allbridge Core paused its protocol after an attacker exploited its stablecoin liquidity pools, with blockchain tracker Onchain Lens estimating losses exceeding $1 million.
The incident adds to a growing number of attacks targeting crypto protocols, with exploits resulting in $57.8 million in losses in July 2026.
How the Allbridge Exploit Unfolded
Onchain Lens reported that Allbridge Core suffered an exploit on Solana, resulting in losses of more than $1.1 million.
According to the firm, the attacker used a $1.12 million USDC flash loan from Kamino to manipulate the protocol’s USDC/USDT stablecoin pool through a series of rapid swaps, distorting the pool’s ratios before withdrawing liquidity at inflated values.
The attacker repaid the flash loan within the same transaction. That move extracted roughly $1.1 million.
Onchain Lens added that the stolen funds were later routed through privacy protocols to obscure their movement. The post also identified the largest single withdrawal at $2.24 million USDC.
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Allbridge Seeks Recovery of Funds After Exploit
Allbridge paused the protocol as a precaution and opened an investigation. It said the imbalance briefly opened an arbitrage window for some traders. Allbridge asked traders who profited from the imbalance to return funds.
The team said they aim to “return all affected funds.”
“If you took advantage of it, please consider returning funds to the address below – this will go directly toward compensating affected LPs. 0x01a494079DCB715f622340301463cE50cd69A4D0,” the post read.
The latest attack follows another flash loan exploit that targeted Allbridge in April 2023. In that incident, an attacker exploited an Allbridge pool in the BNB network, resulting in losses of approximately $570,000.
BeInCrypto has reached out to Allbridge for comment.
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Moonshot AI paused new subscriptions to its Kimi K3 model on July 19, after demand pushed its GPUs close to full capacity within just 48 hours of launch.
The move highlights the compute crunch even fast-rising AI startups face when a hit model arrives.
Why Moonshot AI Paused Kimi K3 Subscriptions
An open-weight model is an AI system whose trained parameters are publicly released, allowing anyone to download and run it. Kimi K3, launched around July 16, carries 2.8 trillion parameters.
Kimi K3 has received far more love than we expected, and our GPUs are feeling it.Over the past 48 hours, demand has pushed close to the limits of our current capacity. To protect the experience of existing subscribers, we're temporarily pausing new subscriptions and…
— Kimi.ai (@Kimi_Moonshot) July 19, 2026
Kimi.ai announced a pause on its official account, saying that two days of surging usage had strained its GPU resources to near capacity.
To protect existing subscribers, it is prioritizing available compute for current members. Active subscriptions remain unaffected, while the firm expands its infrastructure and gradually reopens new spots in batches.
The company also restructured its membership plans. It split them into two tiers, one covering Kimi Web, App, and Work, and a separate Kimi Code Membership aimed at programming workflows. That division targets better resource allocation. The company argues that the split will better match compute and keep the service stable.
The technical profile explains the frenzy. Kimi K3 offers a 1-million-token context window, native multimodal capabilities, and full weights scheduled for public release on July 27.
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Chinese models are 112x cheaper than Anthropic per million tokens.Chamath laid it out on CNBC: a "barrel of intelligence" costs $56 from Anthropic, $26 from OpenAI, $1.50 from Meta, $1 from xAI and Google, and $0.50 from Chinese models.That is not a pricing quirk. That is the… pic.twitter.com/g71WvrnsH3
— Shruti (@heyshrutimishra) July 16, 2026
Benchmarks fueled the hype further. Third-party evaluator Arena ranked K3 first for building web interfaces, ahead of rival frontier models from several leading American and Chinese labs.
What Does the Surge Mean for Moonshot AI
The demand surge lands during a period of rapid growth for Moonshot AI. The company reported annual recurring revenue of $300 million in June, driven largely by strong API demand.
Its valuation has climbed just as fast. The company surpassed $20 billion in May and is now negotiating fresh investment that could push the figure beyond $30 billion. The startup is also eyeing public markets. It sent shareholders a resolution to move toward a possible Hong Kong IPO within roughly six months.
Founded in 2023 by Yang Zhilin, a former Tsinghua University professor, Moonshot AI competes fiercely with other Chinese AI developers racing toward the frontier.
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Kimi K3 may be an important inflection point for AI. Potentially negative for Anthropic and OpenAI while being net positive for essentially every other company in the world. I mean that very literally. Although the real “Sputnik moment” would be an open-source frontier model that… pic.twitter.com/tdAkU4oRgo
— Gavin Baker (@GavinSBaker) July 17, 2026
The pause responds directly to the load created by the new model. The company has not provided exact reopening timelines, but has confirmed it is actively scaling its infrastructure.
The episode reflects a broader operational challenge. AI companies increasingly struggle to keep up with rapid usage spikes, especially amid fierce competition for scarce computing resources across the industry today. For Moonshot AI, the pause is a growth problem rather than a crisis.

Alibaba’s Qwen team unveiled Qwen3.8-Max-Preview on Sunday, July 19, a 2.4 trillion-parameter model the company calls its most capable system yet. Alibaba said the model rivals the world’s top AI systems and trails only Anthropic’s Claude Fable 5.
The debut follows days after Moonshot AI’s Kimi K3 stunned markets with a 2.8 trillion-parameter release. Alibaba’s timing suggests China’s AI labs are racing to claim the next benchmark before rivals do.
Qwen3.8-Max Lands on Alibaba’s Developer Platforms First
Alibaba published the news through its official Qwen account on X. The company described Qwen3.8-Max as one of the most powerful models available today. Developers can already test the system through Qoder and QoderWork, Alibaba’s coding platforms. A separate Token Plan tier covers pricing for international and domestic users.
Alibaba did not disclose training data size or independent benchmark scores beyond the parameter count. The company plans to release the model’s weights publicly soon. This open strategy has already helped Qwen gain ground on Anthropic and OpenAI. That access differs sharply, however, from closed systems such as Fable 5. Meanwhile, Washington continues to tighten export rules on rival Chinese systems.
Qwen3.8 is launching and going open-weight soon!🌐With a massive 2.4T parameters, this model is continuously evolving. We believe it’s one of the most powerful model available today, compatible to leading frontier AI models , second only to Fable 5.You don't have to wait to… pic.twitter.com/JS3ID73IYS
— Qwen (@Alibaba_Qwen) July 19, 2026
Kimi K3 Raises the Stakes for Chinese AI
Qwen3.8-Max arrives amid fierce competition among Chinese developers. Moonshot AI’s Kimi K3 recently pushed Fable 5 into second place on a closely watched AI coding leaderboard. Bloomberg reported that Kimi K3’s debut jolted global technology stocks and reshaped perceptions of China’s AI capabilities. Moonshot is now preparing a Hong Kong IPO after the model’s debut, seeking a valuation near $30 billion.
Alibaba has not named Kimi K3 directly. Still, the timing of its own preview suggests otherwise. Both companies are racing to prove that Chinese labs can match the leading systems built in the United States. Consequently, each new release now invites direct comparisons with Fable 5.
Why the Apple Intelligence Deal Matters
Alibaba’s announcement builds on a separate win. China’s Cyberspace Administration approved Apple Intelligence for local release this month. Alibaba will serve as a technology partner for the service, alongside Baidu, TechNode reported. The approval matters because it puts Qwen in front of millions of iPhone users in China. Qwen models will power Apple’s on-device AI features there, covering text, image understanding and content generation.
The dual wins position Alibaba as both a model developer and an infrastructure partner in China’s AI market. Chinese systems already process far more tokens each month than American rivals. That shift has rattled US chip stocks, as investors question who leads the AI race.
Whether Qwen3.8-Max keeps its number two ranking may depend on independent tests once Alibaba publishes the weights for outside researchers to check.

Le pétrole vient de franchir 90 $. Le Brent a grimpé de plus de 3 % lundi pour atteindre son plus haut niveau depuis la mi-juin, alors que la guerre entre les États-Unis et l’Iran étrangle le transport maritime à travers le détroit d’Hormuz.
Les États-Unis ont frappé l’Iran pour la huitième nuit consécutive le week-end dernier. Washington a bloqué les ports iraniens et Téhéran affirme que le détroit est fermé aux navires non autorisés.
Le Brent s’est échangé près de 91,40 $ en début de journée lundi, en hausse de 3,2 %, selon des données de Trading Economics. Cette progression met fin à une hausse de 14 % enregistrée la semaine dernière. Le brut a désormais rebondi d’environ 30 % par rapport à son point bas de début juillet, proche de 71 $.

Kraken Financial’s Federal Reserve master account is still not live more than four months after approval, bank CEO Brian Mathena told Wyoming lawmakers last week.
In March, the Wyoming-chartered bank became the first crypto firm ever to win one. Winning was hard. Switching it on is proving even harder.
Why the Kraken Fed Master Account Is Not Live Yet
A master account is a bank’s own account at the Fed. It lets a firm move US dollars without a middleman bank. That is why crypto firms want one so badly.
The Federal Reserve Bank of Kansas City approved Kraken’s account on March 4. That made Kraken the first crypto firm plugged directly into the Fed. The bank had waited since October 2020.
Yet the account sits idle. Mathena told Wyoming’s blockchain select committee that the bank is still switching it on.
“Obviously with the uncertainty around the account, we’re now playing a bit of catch up, trying to get the account operationalized and to expand our deposit product and be able to more fully leverage the Fed master account.”
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Kraken never promised a fast launch. Its March announcement described a phased rollout, starting with big institutional clients. Meanwhile, customer wires still run through a middleman. Kraken’s own support pages list Dart Bank as its US dollar wire provider.
The account itself is unusual. The Kansas City Fed approved it for one year only, with undisclosed limits “tailored” to Kraken’s risks. Even Congress wants answers. Representative Maxine Waters pressed Kansas City Fed President Jeff Schmid in March.
Her letter notes the term “limited purpose account” appears nowhere in law or Fed guidelines. She also asks whether Kraken can use the Fed’s ACH network or earn interest on its balances.
The prize is clear, however. A live account would let Kraken settle dollars directly on Fedwire, the Fed’s big-money transfer system. The timing matters too, as Kraken advances its confidential IPO filing.
Tier 3 Fed Access Remains Nearly Impossible
Kraken applied as a Tier 3 firm. That is the Fed’s bucket for state-chartered banks with no federal insurance and no federal watchdog. These applicants almost never win.
Fed Vice Chair for Supervision Michelle Bowman put it bluntly at an American Bankers Association event in March.
“That third level… was a little bit like, I like to say ‘unobtainium,’ right, you just can’t qualify, it’s not, it doesn’t work.”
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The numbers back her up. Just three of 53 Tier 3 or unclassified applicants have ever won approval, per fintech analyst Jason Mikula.
Kraken made headlines by becoming the first crypto "tier 3" applicant to win access to a Fed master account.But the account still isn't live:A traditional Fed master account is a depository account that an institution holds directly at one of the twelve regional Federal…
— Jason Mikula (@mikulaja) July 19, 2026
The other two are a Puerto Rico cooperative and banknote specialist Numisma Bank. Neither touches crypto.
Custodia Bank shows the dark side of those odds. The fellow Wyoming bank applied in October 2020, the same month as Kraken. The Fed said no in January 2023. On July 10, Custodia asked the Supreme Court to step in, calling the denial a “death sentence.”
More delays may follow. Banking trade groups warned that Kraken’s approval came before the Fed finished writing its rules. The Fed then asked Reserve Banks to pause all Tier 3 decisions.
Instead, it is finalizing a payment account proposal for non-banks. Comments close on July 27, and Governor Christopher Waller expects final rules only by year-end.
For now, Kraken holds a first-of-its-kind account it cannot fully use. Whether the one-year pilot goes live before the new rules land remains an open question.
The answer may shape how the Fed treats Ripple’s pending application and everyone else waiting in line.

Khing Oei, ancien investisseur crédit chez Goldman Sachs, affirme que le marché a mal évalué l’action privilégiée STRC de la société Strategy. Ses calculs disent qu’elle vaut environ 96 $. Elle s’échange près de 85 $.
Oei a passé 25 ans à estimer une dette risquée chez Goldman Sachs et dans des fonds spéculatifs. Il a partagé son modèle STRC lors d’une discussion récente et longue.
Pourquoi le rendement de 14 % sur la STRC de MicroStrategy induit en erreur
STRC verse un dividende de 12 %. Divisez-le par le prix actualisé d’aujourd’hui et vous obtenez un rendement supérieur à 14 %. Ce chiffre est partout. Oei dit qu’il est faux.

Le PDG de MicroStrategy, Phong Le, affirme que les plus grandes banques de Wall Street sont engagées dans une course serrée pour la deuxième place de l’Indice d’adoption de la banque Bitcoin de l’entreprise.
Goldman Sachs, JPMorgan, Morgan Stanley et Citi obtiennent chacune une note à moins de trois points les unes des autres. Fidelity, toutefois, conserve un avantage net.
L’avance de Fidelity fixe la barre de l’Indice d’adoption de la banque Bitcoin
L’Indice d’adoption de la banque Bitcoin évalue 25 grandes banques sur le trading du Bitcoin (BTC), la garde des actifs et la profondeur de leurs produits.
Strategy, anciennement connue sous le nom de MicroStrategy, a publié la note initiale de 32 %, en s’appuyant sur des données publiques disponibles jusqu’au 10 juillet.

Le PDG de Coinbase, Brian Armstrong, affirme que le Bitcoin n’a pas répondu à la vision de Satoshi Nakamoto : celle d’une monnaie numérique du quotidien. Il est devenu de l’« or numérique » à la place. Les stablecoins ont pris le relais pour le rôle des paiements, soutient-il.
Le Bitcoin (BTC) se situe près de 64 523 $ , en baisse d’environ 45 % par rapport à son sommet d’octobre 2025 à 126 080 $. Les stablecoins, eux, évoluent dans l’autre sens, leur offre étant proche des niveaux records.
Armstrong a fait cet appel lors d’une interview avec le cofondateur de Zerodha, Nikhil Kamath, dans le podcast People by WTF. Kamath est un sceptique déclaré du crypto. Il a posé une question simple au patron de Coinbase : le Bitcoin fait-il encore ce pour quoi il a été conçu ?

Des pirates quantiques pourraient un jour déchiffrer d’anciennes portefeuilles Bitcoin (BTC) et forger leurs signatures. Une nouvelle preuve fournie par la startup de sécurité quantique Project Eleven donne aux propriétaires légitimes un moyen de récupérer leurs coins, en n’utilisant rien d’autre qu’une phrase de récupération (seed phrase).
Tout le monde ne peut pas l’utiliser, toutefois. Le cofondateur de Binance, Changpeng Zhao (CZ), a déclaré en juin que la communauté pourrait geler les coins de Satoshi Nakamoto après une percée quantique. Les critiques y ont vu une confiscation.
Pourquoi un gel quantique du Bitcoin vient de devenir moins effrayant
L’idée de gel figure déjà sur le papier. Le BIP-361, une proposition coécrite par Jameson Lopp, cofondateur de Casa, ferait passer Bitcoin d’un ancien système de signatures sur plusieurs années. Les pièces qui ne bougent jamais gèleraient pour toujours.

Daddy Tate (DADDY), la monnaie meme Solana construite sur la marque d’Andrew Tate, a chuté de 24 % dimanche. Le déclencheur a été l’arrestation d’Andrew et de Tristan Tate à Miami, où des US Marshals les ont détenus à la demande d’extradition du Royaume-Uni.
Les procureurs britanniques ont aussi ajouté 38 nouvelles charges contre les frères. Leur total combiné s’élève ainsi à 59. Une fois encore, le token a évolué de concert avec les ennuis judiciaires de son homonyme.
La police du Bedfordshire, le service britannique qui mène l’enquête, a déclaré dans un communiqué que des policiers ont détenu les frères samedi. Le Crown Prosecution Service (CPS) a approuvé les nouveaux chefs d’accusation après avoir examiné des éléments de preuve supplémentaires. Le nombre de victimes présumées est passé de trois à sept.