Crypto Briefs

NEAR Protocol introduced a staking-based payment system for NEAR AI, allowing users to lock NEAR tokens in exchange for monthly compute credits. The move integrates token staking with the platform's AI infrastructure offerings, providing an alternative payment mechanism beyond traditional spending.

BitMart faced user complaints over frozen account funds and unpaid employee salaries, with a company founder attributing a Chinese-language social media account posting the demands to a security breach rather than current staff. The exchange claimed the compromised account was not being operated by active employees, addressing allegations of fund mismanagement.

The Blockchain Association called on the SEC to repeal two Regulation NMS rules, arguing they could hinder the development of tokenized securities markets. The group did not specify which rules or provide detailed rationale in the available excerpt.

ENS Labs revised a governance proposal following criticism from delegates regarding treasury control, opting to retain the DAO's primary operational wallet rather than consolidate it under new management. The move reflects community resistance to centralizing financial authority within the protocol's governance structure.

Uniswap governance has activated a protocol fee switch on version 4 liquidity pools, enabling the collection and distribution of protocol revenue. The move redirects fees toward UNI token holders, reviving discussion around potential token burn mechanics and the protocol's revenue model.

Kansai Electric Power's rewards subsidiary has launched a conversion pathway allowing customers to exchange loyalty points for JPYC, a Japanese yen stablecoin, on the Polygon network. The integration extends access to on-chain yen stablecoin settlement for Japanese consumers through an established utility provider.

An analyst cited by CryptoPotato warns that a rapid unwind of yen-funded trades could trigger forced selling across multiple asset classes, including cryptocurrencies. The concern centers on Japan's bond-versus-yen dynamics potentially creating market-wide deleveraging that would affect Bitcoin and other digital assets.

Fundstrat analysts predict Bitcoin is overdue for a significant 30% price move, citing historical volatility patterns. The research emphasizes that strategic timing and not missing key trading days are critical to managing returns during such swings.

Kbank, not Jeonbuk Bank, is spearheading South Korea's Ripple Payments initiative, according to Crypto Briefing. The partnership could accelerate blockchain adoption in the country's banking sector and challenge existing payment infrastructure.

Bitcoin declined to a two-week low following the Federal Reserve and Bank of Japan's decisions to keep interest rates unchanged on Friday. The dual policy announcements from major central banks contributed to downward price pressure in crypto markets during the week.

FTX's bankruptcy estate will distribute $900 million to creditors on July 31, marking the fifth payout round and bringing total recoveries to nearly $10 billion. Unverified claimants face a six-month deadline to substantiate their claims or forfeit recovery eligibility.

Aave is discontinuing its presence on six blockchains that generated less than $5,000 quarterly revenue, according to a LlamaRisk proposal. The shutdown plan includes freezing new activity on these chains, redirecting interest revenue to the protocol treasury, and preserving exit mechanisms for later use.

Cardano (ADA) has formed higher lows on its price chart while whale addresses have increased holdings, according to CryptoPotato analysis. The token continues to attract inflows into spot ETFs, suggesting institutional demand may be shifting from liquidation to accumulation phases.

Block has identified the attacker behind a $38 million Bitcoin theft involving COLDCARD hardware wallets as a blockchain services provider, according to Crypto Briefing. The incident highlights vulnerabilities in firmware security and the importance of rapid disclosure protocols to mitigate risk to digital asset holders.

An unnamed company liquidated 4,375 ETH from its crypto treasury, reportedly redirecting proceeds toward AI data center investments. The selloff triggered a collateral wall, leaving only 1,714.8 ETH unpledged against the company's raised ceiling, according to CryptoSlate's analysis of on-chain positions.

Aave's governance process is reviewing a proposal to shut down six underperforming V3 markets and remove multiple reserves from the protocol. The move targets markets with minimal adoption, streamlining Aave's infrastructure and focusing liquidity on higher-activity deployments.

Uniswap has introduced a "Launches" beta tab in its web interface to provide users a consolidated platform for discovering tokens newly launched across supported launchpads. The feature consolidates token discovery into a single interface, streamlining access to emerging assets.

Sui blockchain has launched USDsui, a stablecoin designed to redirect reserve yield into daily on-chain ecosystem buybacks rather than accruing to token holders. The model ties stablecoin economics directly to network token utility through programmatic repurchases funded by yield generated on USDsui reserves.

An on-chain whale moved 800,000 LINK tokens (approximately $6.8 million) from Coinbase to self-custody on July 30, according to Arkham tracking data. The transfer suggests accumulation activity by a large holder, though motivations for the movement remain unclear.

Coinbase experienced temporary transaction delays affecting some users' MultiversX transfers. The incident underscores the importance of robust integration infrastructure for cryptocurrency exchanges managing cross-chain asset transfers and user experience.

The xrpld 3.3.0 release, expected next week, includes five proposed amendments with two revised features previously withdrawn after security researchers identified bugs that could enable unauthorized transactions or fee draining. The reintroduction follows remediation of the critical vulnerabilities.

Galaxy Research identified an attack in which an attacker recreated private keys from weak seed generation, enabling the theft of more than 1,000 BTC from nearly 1,200 cold wallets without ever accessing the physical devices. The attacker performed the key recovery offline, exploiting a vulnerability in how the seeds were initially generated rather than compromising the wallets themselves.

Texas broke electricity demand records twice in July 2024, reaching 91,308 megawatts on July 22. Bitcoin miners previously provided grid flexibility by curtailing operations during peaks, but their migration to more profitable AI compute workloads is diminishing that emergency capacity, leaving ERCOT without a critical stabilization tool.

Coinbase reported a $359.5 million net loss in Q2 under US accounting rules, marking its third consecutive losing quarter, while disclosing that 88% of net revenue came from non-Bitcoin spot trading sources. The figures highlight the exchange's struggle to maintain profitability despite years of effort to diversify revenue streams beyond Bitcoin trading.

South Korean exchange Upbit transferred 864 billion SHIB tokens between internal wallet addresses in a rebalancing operation. The large on-chain movement generated market attention due to its size, though internal exchange wallet reorganizations typically do not affect token circulation or prices.

Avalanche staking has grown to approximately $204.77 million as the Fuji testnet activated the Helicon upgrade. The upgrade represents a development milestone for the AVAX ecosystem, with the testnet deployment preceding potential mainnet activation.

Avalanche's Team1 Accelerator program has granted $30,000 to YourGrails, a real-world assets (RWA) platform specializing in tokenized physical trading cards. The funding supports YourGrails' efforts to bring tangible collectibles onto blockchain infrastructure.

Payward, the parent company of cryptocurrency exchange Kraken, has joined Anthropic's Project Glasswing to leverage AI for cybersecurity research. The partnership will use Anthropic's security-focused models to identify vulnerabilities in cryptocurrency infrastructure, with findings to be shared openly to improve industry-wide security standards.

A Solana treasury firm (formerly BIT Mining) completed a 700-for-1 share consolidation after NYSE suspension, with shareholders approving capacity for nearly 100 billion additional shares. The company did not disclose specific use cases for the new authorization or the exact post-consolidation share count, leaving the strategic intent unclear.

Pump.fun's native token gained 8% as technical analysts observed a golden cross pattern forming on its daily chart, a bullish indicator historically associated with upward momentum. The token led the crypto market gainers at the time of reporting.