Odaily News According to Lorenzo Valente, Head of Digital Asset Research at investment firm ARK Invest, trading venues dedicated to Real World Assets (RWA) can scale with minimal reliance on Bitcoin and Ethereum liquidity, driving RWA liquidity to diverge by asset class.
On July 23, Valente stated that DeFi is entering a new phase. Data shows that RWA accounts for 54% of Hyperliquid's weekly trading volume, with individual stocks representing 61% of that RWA volume; decentralized exchanges recorded $79 billion in perpetual futures trading volume during the same period, with Hyperliquid accounting for $50 billion of that total.
Valente believes that if Trade.xyz accounts for 90% of Hyperliquid's trading volume, it could demand a higher share of user fees. Most popular applications will continue to rely on shared infrastructure, and only when the cost of operating independently exceeds the value of the liquidity, users, and security they rent will they consider building their own chain. (Bitcoin.com News)
Odaily News CME Group Chairman Terry Duffy, the operator of the world's largest futures exchange, and Luana Lopes Lara, co-founder of prediction market platform Kalshi, clashed verbally during a U.S. Commodity Futures Trading Commission (CFTC) roundtable in Washington. Duffy questioned whether prediction markets face the same regulatory scrutiny as established exchanges and noted that certain contracts could be subject to manipulation.
Terry Duffy stated that CME Group is not a "barker at the circus" and mocked some contracts offered by Kalshi, including the Nathan's Hot Dog Eating Contest contract. Luana Lopes Lara responded that traditional markets and exchanges carry risks as well and that regulators are responsible for identifying and addressing such issues. DraftKings CEO Jason Robins subsequently called on both sides to stop attacking each other's business models.
The dispute comes amid ongoing disagreements between federal regulators and states over the regulatory authority of prediction markets, with the central question being whether contracts involving sports, elections, and other real-world events are federally regulated derivatives or gambling products subject to state law. Last week, a Washington state judge ordered Kalshi to stop offering certain contracts. Two days ago, the CFTC instructed Kalshi to continue trading, pushing back against New York state's efforts to block its contracts. (Decrypt)
Odaily News: Brian Armstrong stated on the X platform that the world's first truly global economy is coming, and it's time to advance tokenization in the US. Coinbase has launched its non-US tokenized stock business. The US Securities and Exchange Commission and SEC Chairman Paul Atkins are making progress with the Reg Crypto announced this week and the Innovation Exemption expected to be unveiled soon. As these measures move forward, the Senate should follow suit and pass the Clarity Act in the fall to ensure long-term stability in US rules.
Odaily News: Brian Armstrong posted on X platform stating that another feature for AI agents has been launched. The first use case is Travala, where users can use common large language models to book over 2 million properties on Base using USDC. He expressed excitement to see more enterprises building on this foundation with AWS AgentCore and opening their services to the newest and fastest-growing consumer segment.
Odaily News: BitcoinTreasuries.NET posted on the X platform that Strive's SATA has raised sufficient funds today to purchase 200 Bitcoins. The post stated that this marks its first day back to par value, and the digital credit engine is operating at full capacity.
Odaily News: HyperliquidNews posted on platform X that Hyperliquid's open interest has hit a new high since October 10, reaching $12.5 billion.
Odaily News: According to Onchain Lens monitoring, a whale transferred 42,500 HYPE accumulated 10 months ago to GSR Markets, and sent another 42,500 HYPE to Cumberland and OKX for sale.
Odaily News: According to Onchain Lens monitoring, a whale has accumulated purchases and withdrawals of 6,920 ZEC from Coinbase Prime, valued at approximately $3.93 million.
Odaily News, according to Onchain Lens monitoring, a wallet associated with a16z (0xb5E...c24e) has unstaked and transferred 89,470 HYPE tokens to Wintermute a few minutes ago, valued at approximately $6.6 million, possibly for sale.
Odaily News: Sui announced on the X platform that AftermathFi's Perpetual Contracts V2 has been launched, featuring a rebuilt perpetual contract engine. Two audit reports have been made public, and 15 markets are currently open.
Odaily News: Cybersecurity firm Check Point Research has discovered that the StopAndProtect ransomware operation has been using nearly 2,000 compromised WordPress websites to spread malware, steal data, monitor victims, and deploy ransomware. The operation was first identified in mid-May.
As of July 24, the operation had compromised more than 6,000 unique IP addresses, with 1,852 in the United States, and 630 each in Russia and India. The compromised websites were also used to host malware, relay commands, and store stolen files, screenshots, and activity logs.
Attackers lured Windows users into running PowerShell commands through fake CAPTCHA prompts, enabling them to steal credentials and cryptocurrency wallet seed phrases, and spread further across networks and USB devices. Researchers collected more than 31,000 screenshots and over 700 compressed data archives, and believe the attackers may have accidentally infected themselves at some point. (Decrypt)
Odaily News Franklin Templeton is preparing to bring tokenized assets into traditional investment funds. The company stated that, following approval from the U.S. Securities and Exchange Commission, its digital-native products will be permitted for use in traditional funds for the first time. According to a publicly disclosed letter from the SEC and information shared by company executives, Franklin Templeton plans to use its tokenized money market fund for ETFs and mutual funds, both as fund holdings and as collateral.
Odaily News - Macro strategist Mark Connors stated that the U.S. Treasury's plan to regularly buy back long-term government bonds could become a significant catalyst for Bitcoin's next rally, potentially paving the way for BTC to reach a $180,000 target.
Connors believes that the U.S. Treasury's intervention in the bond market is a key signal, indicating that the government is addressing pressures from rising long-term borrowing costs. He noted that higher Treasury yields tend to attract capital into the bond market, thereby weakening risk assets, including inflows into cryptocurrencies. If buyback operations support bond prices and push yields lower, they could alleviate the macro pressures facing Bitcoin. It is expected that the scale of U.S. Treasury support could expand to $10 billion to $30 billion per month, far exceeding the current $4 billion level.
Connors previously anticipated that Bitcoin might have to wait until around November for its next phase of growth, but he now believes the market pace could accelerate. He suggested that if the U.S. further adjusts the Supplementary Leverage Ratio (SLR) rules to allow banks to hold more U.S. Treasuries, it could become a key factor driving Bitcoin's breakout. "When this change occurs, Bitcoin will begin to target its first price objective of $180,000," Connors said. He projects that Bitcoin's price range in this cycle through 2030 could reach between $180,000 and $360,000.
However, Connors also cautioned that short-term risks still depend on the progress of the U.S. CLARITY Act. If the bill does not advance before September 15, Bitcoin could face pullback pressure. He believes that progress on regulatory legislation will become an important factor influencing near-term market sentiment. (CoinDesk)
Odaily News Bitcoin News posted on the X platform that Citi plans to offer bitcoin custody services to institutional clients through its Custody+ platform later this year. The service will bring bitcoin into the same custody framework as traditional assets such as stocks and bonds, allowing clients to access custody, settlement, foreign exchange, cash, and liquidity services through a single system. Bitcoin will be the first digital asset supported by Citi's new custody service, and Citi has not yet announced a specific launch date or its initial client list.
Custody+ was launched by Citi Investor Services, with Citi's custody business covering over 100 markets and operating its own custody network in 62 markets. Citi stated that its goal is for the bank to self-custody native digital assets, rather than relying solely on external exchanges or other digital asset firms. The project has been in development for approximately two to three years, and Citi first disclosed related plans in 2025.
Citi stated that Custody+ will provide real-time settlement, foreign exchange services, automated hedging, cash management, and liquidity tools. Its Single Event Processing system within the custody platform currently handles more than 80% of event volumes in real time; in the United States, the system reduces processing time for certain voluntary corporate actions by up to 92%, with 96% of related events completed within two hours. Chris Cox, Head of Citi Investor Services, said that Citi invests more than $2 billion annually in its Services platform.
