In Ethereum news today, Fasanara Capital, a London-based quantitative asset manager, is holding a $67M ETH short on Hyperliquid via an on-chain wallet labeled “BobbyBigSize,” and the directional bet is almost beside the point.
What matters is that institutional-grade capital is now executing complex, multi-leg crypto derivatives strategies entirely on a decentralized venue, in full public view, in a way that would have looked implausible just two years ago.
The position is visible through Hyperliquid’s on-chain explorer at wallet address 0x7fda..17d1. On-chain analytics providers including Arkham Intelligence and Nansen have linked the wallet to Fasanara Capital.
The short sits on Hyperliquid, one of the most closely watched decentralized perpetuals exchanges in the market, a venue that has grown rapidly by offering execution quality and liquidity depth that professional traders previously expected only from centralized exchanges.
The instinctive read- large ETH short, therefore bearish signal does not survive contact with how quantitative funds actually operate. A short of this size can be a directional bet, but it can equally be a hedge against spot ETH holdings, an offset against options book exposure, one leg of a basis trade, or part of a market-neutral spread.
Fasanara runs systematic, multi-strategy books where relative pricing, funding rates, liquidity, and volatility relationships matter far more than a clean up-or-down call on ETH.
Supplementary on-chain data, reported by Phemex and attributed to Arkham Intelligence, adds another layer: holds an additional ~$41M ETH short on Hyperliquid, and should be treated as supplementary attribution, but if accurate, it reinforces that this is coordinated institutional positioning across multiple regulated managers, not a lone prop desk swing.
This includes approximately $11Bn in cumulative trading volume on Hyperliquid in ETH, BTC, AVAX, HYPE, and other tokens. That is the profile of a systematic, high-frequency institutional book, not a retail trader making a leveraged directional bet.
The current ETH leverage environment and funding dynamics give that short context: in a market where funding rates and open interest are already elevated, a large institutional short of this kind can function as a structural offset rather than a conviction trade.
In adjacent Ethereum news, Hyperliquid has compressed the quality gap between on-chain derivatives and centralized exchange execution to the point where a fund managing multi-billion-dollar mandates is comfortable running nine-figure notional exposure natively on-chain.
Fast matching, deepening order book liquidity, and a familiar perpetuals interface have done what earlier DeFi derivatives platforms could not: attract serious derivatives flow rather than just yield farmers chasing incentives. The Hyperliquid trading interface features advanced charting and real-time order book data.
The structural consequence is a new kind of market signal. Centralized exchange positioning has always been inferred indirectly, through funding rates, open interest, liquidation data, and exchange-reported metrics.
Institutional DeFi trading on Hyperliquid makes wallet-level positioning directly observable. Analysts can track when Fasanara adds to or reduces its size and monitor collateral and position changes. That transparency is what DeFi trading was theoretically supposed to create, and now it is arriving at institutional scale.
The fund reportedly holds a concurrent BTC long entered around $75,950, plus shorts across TON, AVAX, and DOGE, a cross-asset relative-value book executed entirely on a decentralized perpetuals venue.
That breadth signals that Hyperliquid is functioning as primary execution infrastructure for at least one major quant manager, not a peripheral experiment running alongside the real book on Binance or OKX.
In Bitcoin news today, police in Malaysia dismantled a Bitcoin mining syndicate following four raids on July 22 and 23 by Tenaga Nasional Berhad (TNB) across four rented premises.
Authorities arrested three local men and seized 71 cryptocurrency mining rigs in an operation that generated an estimated RM80,000 to RM100,000 (~$25,000) in monthly profits.
The Johor police chief said the suspects comprised a manager who oversaw the activities, and two technicians.https://t.co/oBbdQ8YunV
The bust, codenamed Ops Letrik, exposes the persistent economics of illegal mining in Johor, Malaysia: electricity theft converts what would be an unprofitable operation into a high-margin one, with TNB absorbing the cost.
This story dropped as Bitcoin USD fell -0.4% over the past 24 hours, slipping to $65,300 after losing the $66,000 level yesterday. As of right now, support at $65,000 is holding steady.
The operation was carried out by the Johor Contingent Police Headquarters’ Criminal Investigation Department (D4) in collaboration with TNB’s Southern Region SEAL team.
Raids hit three residential homes and one shophouse in Iskandar Puteri, Johor Bahru Utara, and Kulai – each rented at RM5,000 to RM6,000 per month, with the rental arrangements still under active investigation.
The syndicate’s method was direct tapping: bypassing legitimate TNB meters with hardwired connections allowing their Bitcoin mining operations to run without paying bills.
Over roughly one month of operation before police moved in, that power theft inflicted RM67,502.30 in losses on TNB. The profit margin is self-evident – the syndicate was clearing multiples of its RM67,000 electricity liability in monthly Bitcoin revenue while paying it nothing.
Items seized included 71 cryptocurrency mining machines, two computers, two laptops, five routers, two monitors, two keyboards, one mobile phone, and two vehicles.
Johor police chief Datuk Ab Rahaman Arsad said one suspect acted as the manager across all four premises, while the other two were external technicians responsible for wiring and machine installation.
Ab Rahaman said initial investigations found the syndicate was capable of generating profits of between RM80,000 and RM100,000 per month, while the suspects are believed to have been paid around RM5,000 a month.
All three suspects, aged 26 to 46, were remanded until July 26. Police said they are actively tracking additional individuals linked to the network.
The case is being investigated under two statutes: Section 427 of the Penal Code for criminal mischief, which carries a jail term of between one and five years, or a fine, or both, upon conviction. and Section 37(1) of the Electricity Supply Act 1990 for interfering with electrical installations, which carries a fine not exceeding RM100,000, up to five years’ imprisonment, or both.
Combined exposure is meaningful but not prohibitive given the profit scale, which is precisely why the Malaysian crackdown has escalated enforcement frequency rather than relying solely on statutory deterrence.
Between January 2025 and June 2026, the Johor Contingent Police raided 16 premises linked to illegal cryptocurrency mining, seizing 158 machines in total and incurring TNB losses of nearly RM1 million.
The July 22–23 operation involved 71 mining machines and resulted in TNB utility losses estimated at RM67,502.30 – smaller in rig count than some prior busts but operationally similar in structure.
Malaysia just seized 75,000 illegal Bitcoin mining rigs.
Electricity theft crackdowns like this keep popping up globally as miners chase the cheapest power they can find, legal or not.
The "grid wars" are real — mining's biggest constraint isn't hash rate anymore, it's who… pic.twitter.com/sEIzjIBGBp
In wider Bitcoin news, the Johor raid is one node in a sustained national enforcement campaign. The scale separates Malaysia’s problem from most jurisdictions: this is not marginal grid abuse but a structured shadow industry operating at the expense of a state utility.
The arithmetic that drives these operations is straightforward. Legitimate Bitcoin mining in Malaysia requires paying commercial electricity rates against a fixed BTC price outcome, margins that compress quickly when the network difficulty rises.
Stealing power eliminates the primary variable cost, transforming marginal or loss-making operations into profitable ones regardless of market conditions. That dynamic explains why enforcement has not eliminated the practice despite years of raids, seizures, and prosecutions.
Johor police said they continue to track additional suspects connected to this syndicate, suggesting the network extends beyond the three men currently in custody.
XRP is caught between a compelling technical setup and stubborn overhead price resistance. That gap is testing bullish patience. The cup and handle pattern that traders have tracked for weeks now faces invalidation. XRP trades near $1.11, remaining well below the former $2.68 to $2.77 breakout zone discussed in earlier bullish scenarios.
Ripple has introduced a dedicated Mint function to streamline RLUSD issuance. The update targets minting delays and improves settlement predictability. It strengthens Ripple’s enterprise infrastructure and could make RLUSD more attractive to institutions. However, the direct benefit favors stablecoin adoption more than immediate spot XRP demand.
Regulatory clarity across Ripple’s product suite remains the bigger variable for XRP price. Even so, infrastructure upgrades could improve long-term confidence if institutional usage continues expanding. Until then, traders still need stronger demand to reclaim higher resistance levels.
Meanwhile, the macro backdrop remains challenging. Megacap technology stocks pressured major U.S. indexes as AI spending concerns resurfaced. Tariff headlines also encouraged a risk-off mood across financial markets. When equities weaken, altcoins rarely avoid the selling pressure.
Can XRP Price Reach $1.5 Before the Cup-and-Handle Breaks Down?
XRP is trading near $1.11, sitting just below a key resistance zone that many analysts continue to monitor. The measured move target around $5.18 still depends on a sustained breakout above previous swing highs. Meanwhile, the 50-day and 200-day EMAs remain below the current price, keeping the long-term trend constructive.
The breakout trigger remains straightforward. A daily close above nearby resistance with strong volume could open the door to a move toward the next resistance zone around $1.30 to $1.40. Until then, XRP may continue trading within its recent range, frustrating both bulls and bears.
Xrp (XRP)
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On the downside, losing support around $1.08 to $1.10 could invite another test of lower levels. Some wave analysts still warn that a deeper correction is possible if momentum continues fading. However, those bearish projections remain conditional rather than confirmed.
Long-term targets such as $33 to $67 or even $60 are still circulating among well-known XRP analysts. Even so, those are multi-cycle projections rather than near-term expectations. For now, the bigger question is whether XRP can reclaim higher resistance and build enough momentum for a sustained breakout.
LiquidChain Targets Early Mover Upside as XRP Tests Key Levels
XRP’s cup-and-handle setup illustrates the core frustration of late-cycle positioning: even a technically clean pattern at a $70 billion market cap requires a significant capital event to move the needle. Traders rotating out of stalled large-caps are increasingly looking at early-stage infrastructure plays where the entry price still reflects discovery rather than expectation.
LiquidChain is one project drawing attention. The Layer 3 protocol fuses Bitcoin, Ethereum, and Solana liquidity into a single execution environment. It boasts a Unified Liquidity Layer with Single-Step Execution and Verifiable Settlement, meaning developers deploy once and access all three ecosystems without bridging overhead.
The presale is currently priced at $0.01483, with $920K raised to date. The project is approaching the $1M milestone, which historically marks an inflection point in presale momentum.
Cardano price is trading around $0.165, after large holders quietly accumulated more than 30 million ADA over the past week, bumping up its prediction. The buying briefly pushed ADA ahead of Stellar into 15th place by market cap. Although the ranking did not last, the accumulation remains notable. Santiment data suggests this was part of a steady buying trend rather than a one-off trade.
According to The Crypto Basic, large wallet ADA holdings climbed to 5.69 billion over seven days. Meanwhile, wallets holding between 100,000 and 100 million ADA reached a combined 25.6 billion ADA. That marks the highest balance in roughly three and a half years. The trend suggests bigger investors continue adding despite the recent pullback.
More than 30 million $ADA have been accumulated by whales over the past week.
Charles Hoskinson has also reiterated his belief that ADA could return to the top 10 before the year’s end. Reaching that goal would require a substantial rally from current levels to overtake Dogecoin by market capitalization. Whether whales are positioning for that outcome or simply accumulating at lower prices remains the key question.
Meanwhile, capital continues rotating into select altcoins as Bitcoin and Ethereum consolidate. That backdrop could eventually support ADA if demand strengthens. Even so, traders will likely wait for technical confirmation before calling for a sustained recovery.
Cardano Price Prediction: Can ADA Reach $0.19 This Week?
ADA is trading around $0.165, extending its long pullback. The token is testing support near $0.165, while the first resistance now sits around $0.172. A move above that level could reopen the path toward $0.180 if buying volume improves.
Some forecasting models still expect a modest recovery over the coming weeks, while a more cautious outlook continues to place stronger support near $0.148. That leaves traders watching whether the $0.165 area can hold before momentum weakens further.
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Recent price action has largely reflected improving sentiment across the altcoin market instead of a Cardano-specific catalyst. As a result, ADA remains highly sensitive to overall crypto market flows. If risk appetite returns, the current dip could become another accumulation zone.
Three scenarios remain worth watching. In the bullish case, ADA defends $0.165 support, volume improves, and price rebounds toward $0.172 and $0.180. The base case sees consolidation between $0.165 and $0.172 while whale accumulation continues. However, if market sentiment deteriorates, ADA could revisit the $0.148 support, putting the recent recovery attempt at risk.
Maxi Doge Targets Early Mover Upside as Cardano Tests Key Levels
ADA’s accumulation story is compelling, but at a current market cap in the billions, the math on a life-changing return requires that 76% move, Hoskinson is projecting at minimum. Traders running tighter risk parameters are already eyeing earlier-stage setups where the entry price itself does more of the work. That’s the positioning logic behind presale allocations in the current cycle.
Maxi Doge ($MAXI) is an ERC-20 meme token built around a 240-lb canine mascot embodying the 1000x leverage trading mentality. Think gym-bro culture meets DeFi degenerate energy, packaged with actual utility mechanics.
POV: The government trying to work out how to tax capital gains on assets that price fluctuate pic.twitter.com/MXJPJDRzzJ
The presale has raised $4.8 million at a current price of $0.000283, with dynamic staking APY available to early holders. The project offers holder-only trading competitions with leaderboard rewards, a Maxi Fund treasury earmarked for liquidity and partnerships, and meme-first marketing that has driven genuine community traction.
Dogecoin’s own price mechanics illustrate how community-driven meme assets can defy conventional valuation logic when sentiment aligns.
Bitcoin spot ETF have recorded seven consecutive trading days of net inflows since July 14, attracting nearly $1 billion as Bitcoin price traded around $65,500. It marks the longest inflow streak in months and raises a familiar question. Are institutions quietly rebuilding positions, or is this simply a relief rally after heavy selling earlier this summer?
The streak follows a difficult stretch that pushed Bitcoin price below $58,000 before buyers returned. Rather than relying on one massive allocation, the inflows have arrived steadily each day. That pattern usually carries more weight because it suggests sustained demand instead of a short-lived burst driven by market excitement.
What the October 2025 Comparison Does and Does Not Prove
Some analysts have compared the current streak with October 2025, when persistent ETF demand came before Bitcoin rally toward its record high. However, the comparison has limits. The earlier run attracted well over $5 billion in seven trading days, making it far larger than the current streak. That difference makes a direct comparison difficult.
Today’s inflows are roughly one-fifth of that earlier pace. Even so, slower accumulation can still support higher prices without creating the same speculative conditions. Instead of pointing to another explosive rally, the data better fits gradual institutional positioning while leverage across the market remains relatively restrained.
Issuer data also shows where the money is flowing. BlackRock’s IBIT continued leading daily inflows, while ARK’s ARKB and Fidelity’s FBTC also attracted fresh capital. Meanwhile, Grayscale’s GBTC continued recording net outflows, extending a trend that has persisted since spot Bitcoin ETFs launched. That rotation suggests investors still prefer lower-fee products over legacy funds.
The $70K Bitcoin Target Depends on Sustained ETF Demand
A move toward $70,000 remains technically possible if ETF demand continues at a similar pace. However, no historical relationship guarantees that outcome. ETF inflows have often supported the Bitcoin price, yet macroeconomic conditions, derivatives positioning, and profit-taking can quickly outweigh fund flows.
The recent recovery should also be viewed in context. It follows weeks of persistent ETF outflows that pressured the Bitcoin price below $58,000. Seven positive sessions improve sentiment, but they do not confirm a lasting uptrend. Buyers still need to defend current levels before the market can challenge the $70,000 resistance.
Bitcoin (BTC)
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One observation deserves attention. Healthy rallies often build through consistent inflows instead of one extraordinary buying day. During previous market peaks, the largest ETF inflow sessions appeared near the top rather than at the beginning of sustained advances. That history suggests investors should watch for signs of overheating.
For now, the current pattern looks more balanced than euphoric. If ETF inflows remain distributed across several sessions, Bitcoin price could continue grinding toward $70,000. However, a sudden surge in one exceptionally large inflow day may signal growing speculation rather than strengthening market fundamentals.
In UK crypto news today, Christopher Harborne, a stakeholder in Tether and Bitfinex, has become the subject of dual regulatory scrutiny in the UK after directing roughly £30M into British politics, including an undeclared £5M personal gift to Nigel Farage ahead of the 2024 general election, making him the largest single donor in UK political history.
Both the Parliamentary Commissioner for Standards and the Electoral Commission have opened formal investigations, while a separate referral accuses Farage of using his parliamentary platform to lobby against a digital pound that would compete directly with Harborne’s crypto interests.
The £5M gift, received before Farage entered Parliament and not declared as required under Rule 5 of the MPs’ Code of Conduct, sits on top of more than £25M Harborne has donated directly to Reform UK and its predecessors since 2019, according to Al Jazeera’s reporting. Those donations account for roughly two-thirds of all funding Reform UK has received since its founding.
Farage has described the £5M as an unconditional, non-political personal gift – needed, he says, to fund lifetime security – and denies any case to answer. He resigned his parliamentary seat on July 7, 2026, framing the resulting Clacton by-election as himself against “the establishment.”
The more structurally significant allegation sits at the intersection of crypto lobbying and central bank policy. Farage used a September 2025 meeting with Bank of England Governor Andrew Bailey to push back against plans for a retail CBDC, a Britcoin, that would compete directly with privately issued stablecoins like Tether.
The Bank of England confirmed to Al Jazeera that no final decision on the digital pound has been taken. For traders tracking stablecoin regulation, that decision remains one of the more consequential pending policy calls in the UK market.
Labour MP Phil Brickell, chair of the APPG on Anti-Corruption and Responsible Tax, made a formal referral to the standards commissioner in July 2026 on those grounds. Harborne’s financial exposure to Tether’s competitive position against any state-backed digital currency is direct.
Reporting places his economic interest in Tether at approximately 12%, with the stablecoin issuer generating around $10Bn in annual profit on roughly $184Bn in USDT in circulation.
The ideological alignment between Farage, Reform, and crypto-industry backers like Harborne is not coincidental, according to analysts. Frances Coppola, an economist quoted by Al Jazeera, described the political underpinnings of crypto as “essentially anarcho-capitalism”, a rejection of centralized banking and democratic oversight of monetary systems.
Documented red flags on Nigel Farage promoting crypto at UK #UKCPAC:
Heavy dependence on crypto billionaire funding: Reform UK's largest donor, Christopher Harborne (major Tether shareholder), gave millions to the party (including a record £9m+ donation) and a previously… https://t.co/2TF5cc7cvC
In other UK crypto news, Sam Power, a political financing and electoral regulation expert at the University of Bristol, told Al Jazeera that Farage and Reform are “in a significant amount of trouble.”
The Harborne donation scandal hurt Reform in the Makerfield by-election, where their candidate lost to new Prime Minister Andy Burnham. Power’s read: Reform’s core 20% of the British vote is sticky, but the additional 10% the party needs to win a general election “is already melting away.”
The Tether association compounds the reputational risk. A 2024 UN Office on Drugs and Crime report concluded that Tether was the “preferred choice for crypto money launderers” in Southeast Asia, and the stablecoin has been linked to human trafficking operations in Cambodia and large-scale fraud, allegations Tether disputes.
David Gerard, author of the Pivot to AI blog, told Al Jazeera that Tether remains the infrastructure of choice for fraud networks: “If you look at human trafficking in places like Cambodia, it’s Tether that those carrying it out are relying upon.”
The pattern of crypto political donations shaping policy is not confined to the UK, ethics provisions in US crypto legislation are facing similar pressure from industry-aligned political money, and conflicts of interest between crypto funding and policy-making have drawn DOJ scrutiny in Washington.
Senate Republicans circulated a revised 616-page Crypto Bill draft on July 22 that includes a White House-backed ethics provision, but no Democrat has publicly endorsed the latest text. Senate Majority Leader John Thune said he wants to move the bill to the Senate floor before the August recess, although it remains unclear whether Republicans can secure the 60 votes needed to advance the legislation.
The ethics provision bars the president, vice president, members of Congress, senior executive branch officials, and their spouses from issuing or sponsoring certain digital assets while in office.
The provision designates the U.S. attorney general as the primary enforcement authority and does not authorize state attorneys general to enforce the ethics rules.
The ethics restrictions would expire in 2029 unless extended by Congress.
Republicans hold 53 Senate seats, meaning they would likely need support from at least seven Democrats if all senators vote.
The ethics language was negotiated between Senate Republicans and the White House and reflects a compromise the Trump administration was willing to support.
Under the proposal, crypto platforms could be required to avoid listing digital assets issued or sponsored in violation of the ethics rules, while the attorney general could pursue civil enforcement against officials and parties that knowingly violate the provision.
For many Democrats, however, the enforcement structure remains the central concern. They argue that relying solely on the Department of Justice provides insufficient independent oversight, particularly given President Donald Trump’s crypto-related business interests. Those concerns intensified after Trump’s annual financial disclosure reported substantial income tied to crypto ventures, including World Liberty Financial and his memecoin-related businesses.
Alsobrooks Calls DOJ Only Enforcement ‘An Unserious Offer’
Sen. Angela Alsobrooks (D, Md.), one of the Democrats who has participated in negotiations on crypto legislation, said this week that any enforcement mechanism limited to the Department of Justice is “an unserious offer.” She added that she could not support the bill under its current ethics language while leaving room for further negotiations before a floor vote.
UPDATE: Sen. Angela Alsobrooks said that the White House proposal to have the DOJ enforce the CLARITY Act’s ethics provisions is an “unserious offer.”
She also said she will not support the bill if it is the only enforcement option, per Eleanor Terrett. pic.twitter.com/Cb0TwfACeR
The main disagreement is over enforcement. Democrats have repeatedly sought to give state attorneys general independent authority to enforce the ethics provisions. The revised Republican draft instead reserves enforcement authority to the U.S. attorney general, preventing states from bringing their own actions under that section of the bill. Democratic lawmakers have argued for months that stronger and more independent oversight is necessary.
A group of Democratic senators, including Alsobrooks, Cory Booker, Ruben Gallego, and Mark Warner, has also said the current CLARITY Act draft remains inadequate on ethics, consumer protection, illicit finance, and market integrity. Their support could prove critical if Republicans hope to advance the legislation.
Thune’s Floor Timeline Puts Pressure on Both Sides of the Crypto Bill
Thune’s plan to pursue a floor vote before the August recess appears designed to increase pressure on negotiators rather than signal that the bill already has sufficient bipartisan backing. When asked whether the legislation was ready, Thune said he was hopeful but acknowledged that further discussions and possible revisions could still be necessary.
UPDATE: The CLARITY Act is heading toward a Senate vote, even without Democratic support.
Senate Majority Leader John Thune plans to bring the crypto bill to the floor as soon as next week, even if no deal is reached with Democrats, per Bloomberg.
The strategy could force lawmakers to either reach a compromise quickly or publicly demonstrate that bipartisan support remains out of reach. If the bill fails to advance before the Senate leaves for the August recess, negotiations could resume later in the year, although the legislative timeline would become less predictable.
The broader crypto regulation package would establish clearer jurisdiction between the SEC and CFTC, create a regulatory framework for digital assets, and include provisions affecting decentralized finance developers and blockchain infrastructure participants. While Republicans hoped the revised ethics language would attract Democratic support, negotiations remain ongoing, and the bill’s prospects are still uncertain.
Dogecoin is trading under $0.073, moving little over the past 24 hours after another quiet session. Even so, the meme coin remains under pressure from last week’s pullback. Still, TD Sequential buy signals have appeared consecutively on the weekly chart, a setup that analyst Ali Martinez says has often preceded strong rallies.
The pattern has caught traders’ attention because consecutive weekly buy signals are rare. Martinez noted this type of cluster has historically come before major directional moves. Whale activity and derivatives data also remain mixed. Open interest has eased slightly, while spot taker CVD briefly favored buyers before that momentum faded.
The weekly TD Sequential has now flashed multiple consecutive buy signals—a rare setup that could be warning a major bull rally is approaching. pic.twitter.com/DrOI9nqJ2I
Elon Musk liking a DOGE-related memecoin post created fresh headlines, but little changed on the chart. Price barely reacted, leaving technicals as the main focus. For now, traders appear more interested in whether the weekly signal confirms than in social media-driven speculation.
Meanwhile, the wider crypto market has offered little support. Bitcoin failed to hold above $66,500, keeping risk appetite in check across major altcoins. Dogecoin also remains below the $0.088 area, which previously acted as an important support level. Until that zone is reclaimed, bulls still have work to do.
Can Dogecoin Price Break $0.075 Resistance This Week?
Dogecoin is consolidating in a tight range near $0.073 after several quiet sessions. Short-term forecasts still point to limited movement, with the price expected to remain inside a narrow band through this week. Even if buyers regain control, the projected upside remains modest unless trading volume picks up.
Support sits around $0.0722, followed by $0.0712 and the stronger floor near $0.0705. Meanwhile, resistance stands at $0.0740, $0.0746, and $0.0757. Those levels could slow any recovery before DOGE challenges the $0.088 area that previously acted as key support.
Dogecoin (DOGE)
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Technical indicators still lean cautiously. The 50-day moving average continues to slope lower, reflecting the recent downtrend. Even so, the weekly TD Sequential buy signal remains active, giving bulls a reason to watch for a reversal instead of chasing momentum too early.
The bullish case is straightforward. Dogecoin needs to defend $0.0705, attract stronger volume, and close the week above $0.0754. That could open the door toward $0.0793. Otherwise, the base case remains sideways trading between $0.0705 and $0.0755, while a break below support would leave sellers firmly in control.
Maxi Doge Eyes Early-Stage Upside as DOGE Tests Critical Resistance
DOGE at $0.074 with a $1 billion OI overhang is a trade, not a position. The asymmetry that existed at lower prices has compressed. Even a successful squeeze to $0.076 represents roughly 4% upside from here, meaningful on leverage, limited in spot. Traders looking for a larger risk-reward multiple are scanning earlier on the curve.
Maxi Doge ($MAXI) is an ERC-20 meme token built around a trading community thesis: the 240-lb canine juggernaut persona embodies 1000x leverage culture, and the project channels that into structured community mechanics.
POV: The government trying to work out how to tax capital gains on assets that price fluctuate pic.twitter.com/MXJPJDRzzJ
The presale has raised closer to $5 million at a current price of just $0.000283, with a dynamic staking APY live for holders. Differentiating features include holder-only trading competitions with leaderboard rewards, a Maxi Fund treasury allocated to liquidity and partnerships, and meme-first marketing that leans into gym-bro culture without apology.
XRP price climbed from around $1.11 to $1.14 during the past week, briefly testing resistance near $1.16 before easing back despite its bullish prediction. The move looked constructive, but buyers are now facing a key ceiling. A decisive break above recent highs could open the door toward $1.32. Otherwise, the rally risks fading as short-term traders lock in profits.
The latest advance follows nine consecutive weeks of net inflows into XRP investment products, totaling about $17.2 million. However, the pace of fresh inflows has slowed. The most recent weekly figure fell to roughly $12 million, suggesting institutional demand remains positive but is no longer accelerating.
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Price can lead fund flows for a while, yet that relationship becomes less reliable when inflows begin to cool. As a result, traders chasing strength should watch whether demand catches up. If it does not, momentum could fade even if the technical picture still appears healthy.
Meanwhile, the CLARITY Act and the U.S. regulatory outlook remain important catalysts for XRP. Clearer rules could strengthen institutional conviction and support another leg higher. On the other hand, delays or weaker-than-expected progress may encourage investors to stay cautious despite the recent price recovery.
XRP Price Prediction: Push to $1.65? Or is the Handle Getting Too Long?
XRP is working through a potential cup-and-handle pattern that has been developing since early July. However, the neckline now sits closer to the $1.16 to $1.17 area. The recent consolidation since July 21 still resembles the handle, provided buyers defend the current support. Meanwhile, lighter selling volume during the pullback suggests profit-taking rather than aggressive distribution.
Support is clustered around $1.12 to $1.13, where recent lows have attracted buyers. A stronger floor sits near $1.05 if selling pressure increases. On the upside, immediate resistance stands between $1.16 and $1.18, followed by $1.32. A breakout above that level could expose the next resistance near $1.46.
The earlier breakout from the $1.14 area came with a noticeable jump in trading volume. That move established a benchmark for meaningful market participation. As a result, traders will likely watch for another volume spike before treating any breakout as sustainable.
The bullish case calls for XRP to reclaim and hold above $1.18 on a daily close. If buying momentum strengthens, the price could revisit $1.32 before testing $1.46. The base case keeps XRP trading between $1.12 and $1.18 as traders wait for fresh regulatory or macro catalysts.
The bearish prediction emerges if XRP price closes below $1.12 on rising volume. That would weaken the handle setup and increase the risk of a move toward $1.05. MVRV data also adds an interesting twist. Negative 30 day and 365 day MVRV readings suggest many holders remain underwater, a condition some contrarian investors see as an opportunity rather than a warning.
LiquidChain Eyes Early-Stage Entry as XRP Tests Resistance Ceiling
XRP at $1.50 is a different bet than XRP at $1.10. The asymmetry has compressed. That’s exactly when traders with a higher risk appetite start looking at earlier-stage setups where the entry price hasn’t already priced in the narrative. ETF inflow dynamics benefiting established assets don’t always filter down to infrastructure plays at presale prices, which is partly the point.
The next generation of infrastructure won't stand alone.
LiquidChain ($LIQUID) is a Layer 3 infrastructure project positioning itself as a unified execution environment that merges Bitcoin, Ethereum, and Solana liquidity into a single settlement layer.
The architecture powers Unified Liquidity Layer, Single-Step Execution, Verifiable Settlement, and Deploy-Once Architecture, which targets the fragmentation problem that makes multi-chain DeFi operationally expensive. Current presale price is $0.01482. Total raised stands at $915K.
DYOR applies harder here than on a liquid mid-cap. For traders who’ve done the work, the LiquidChain presale details are worth reviewing directly.
Three progressive organizations, Indivisible, Demand Progress, and the Revolving Door Project, sent a letter Tuesday evening to every Democratic Senate office, criticizing Sen. Kirsten Gillibrand over her son’s ties to the crypto industry. The move complicates her effort to broker a compromise on the CLARITY Act unresolved ethics provisions. It also signals that Senate Democrats backing the bill face an organized political campaign, not just a policy disagreement.
LATEST: Sen. Gillbrand is facing tremendous blacklash from progressives over CLARITY Act ethics rules, per Axios.
Progressive groups including Indivisible and Demand Progress have launched a blistering campaign against Sen. Gillibrand, claiming her family’s crypto ties expose… pic.twitter.com/Ad9rZw9pCF
The letter portrays Gillibrand, chair of the Democratic Senatorial Campaign Committee, as vulnerable to the same criticism Democrats have directed at President Donald Trump’s crypto ventures. The groups argued that attacks on Trump’s crypto profits lose force if a leading Democratic negotiator has close family ties to the industry.
Meanwhile, Gillibrand has repeatedly called for elected officials and their spouses to avoid issuing or sponsoring digital assets.
The CLARITY Act is the most comprehensive crypto market structure bill proposed in the United States. Passing it requires 60 Senate votes, meaning Republicans still need several Democratic supporters beyond those who backed it in committee.
Sens. Ruben Gallego and Angela Alsobrooks voted in favor during the Senate Banking Committee review, leaving leadership searching for additional votes.
At the same time, bipartisan ethics talks continue on multiple fronts. Sens. Bernie Moreno and Cynthia Lummis are working with the White House on compromise language, while Sen. Thom Tillis leads separate bipartisan negotiations. Although no draft has been released, reports suggest discussions are progressing. The debate still centers on how ethics rules should apply to public officials and their families.
Fairshake, the crypto industry’s leading super PAC, also hangs over the negotiations. The group holds roughly $125 million in available funds, raising political stakes ahead of the 2026 midterm elections. As a result, both parties have incentives to reach a deal, while progressive groups continue warning against weak ethics provisions.
The current standoff closely resembles last year’s GENIUS Act debate, when Senate Democrats clashed over crypto regulation and Trump’s financial connections to the industry. That legislation ultimately secured support from 18 Senate Democrats after lengthy negotiations. Now, the CLARITY Act faces similar internal pressure, familiar lobbying efforts, and another race against the legislative calendar.
Gillibrand again sits at the center of negotiations, and her ability to unite Democrats on an acceptable ethics compromise could determine whether the bill advances. The Senate is expected to consider the legislation before the August recess. Until negotiators release the final ethics language, the battle remains focused on political positioning rather than legislative text.
In Ethereum news today, new smart contract deployments on the network have surged 192% above the 90-day baseline, with funding rates simultaneously running 220% above their 90-day norm, a combination of signals that, according to a CryptoQuant QuickTake published by analyst CryptoOnchain, rarely fires without preceding a significant directional move.
The question the data forces is whether the early leverage bid currently accumulating in derivatives markets is front-running the builder activity, or simply reacting to it.
ETH price climbed unevenly from roughly $1,770 to $1,903 over the past two weeks, a movement that reads as ordinary chop on the surface. Beneath it, three structurally distinct signals are activating in parallel for the first time in recent memory.
TOM LEE: ETHEREUM HAS MORE DEVELOPERS THAN EVERY OTHER CHAIN COMBINED
Unlike the 2022 bear market, the builder base keeps growing, and that's the tell:
– Nearly 6,000 developers work on the EVM stack, more than all other chains on the table combined – Per Electric Capital,… pic.twitter.com/KgJCy65hiF
— Tom Lee Tracker (Not actually Tom) (@TomLeeTracker) July 20, 2026
Ethereum News: Builder Activity Spikes While Capital Stages on Binance
The sharpest signal in the CryptoQuant analysis is the developer activity reading. Smart contract deployments jumped roughly 192% versus the 90-day baseline, with nearly 57% of that increase occurring within the past week alone.
Deployment spikes of this magnitude typically indicate new protocol launches, redeployed contracts ahead of a release, or coordinated testing cycles, builder activity, not speculative noise.
Alongside that, stablecoin net flow into Binance has surged to nearly 370% above its three-month average, with daily inflows averaging over $58M. Capital staging on an exchange rather than deploying directly on-chain is a classic pre-trade positioning pattern; it suggests intent without yet confirming direction.
What complicates the read is that these two signals, which typically appear in sequence during a clean accumulation phase, are running simultaneously with a hot derivatives market. That removes the analytical comfort of a slow, cold-funding accumulation setup.
Funding rates on Binance are now running approximately 220% above their 90-day norm. That is not an ambiguous reading; it is a clear signal that leveraged traders are already positioned long and paying to hold those positions.
For anyone tracking perpetual trading dynamics, elevated funding at this level has historically preceded either a flush that resets overextension or price follow-through that validates the bet.
The problem, as CryptoOnchain’s analysis notes, is that having both stablecoin staging and hot funding rates activate together is not a clean accumulation script.
It is a setup that historically precedes more volatile, two-sided price action rather than a straightforward directional trend. Open interest building into elevated funding with a price that has not yet broken out cleanly creates the conditions for sharp moves in either direction.
The on-chain metrics that would normally anchor a bullish read are not in dispute. Staking has climbed to a fresh all-time high of 33.58%, tightening liquid float.
Median transaction fees are down by over 96% versus three months ago, not due to network abandonment. These are the readings that define the valuation gap: base-layer economics remain subdued: median transaction fees are down over 96% versus three months ago, while staking continues its steady climb to a fresh high of 33.58%.
The gap between robust on-chain metrics and ETH price performance has attracted institutional attention at these levels, and staking continues its steady climb to a new high of 33.58%, further tightening the liquid float.
In other Ethereum news, CryptoQuant’s analysis highlights a rare convergence of three signals: elevated builder activity, capital staging in stablecoins on exchanges, and existing leverage via derivatives. Each signal has meaning individually, but their simultaneous occurrence in the absence of a price catalyst is notable.
Ethereum’s post-Dencun architecture shows lower fees, as Layer 2 activity has offloaded execution costs from the mainnet without compromising economic security or validators’ staking yield. Developer activity remains robust, with a 192% spike in deployment, indicating resilience even during downturns.
Institutional flows suggest cautious short-term behavior, but demand from cumulative inflows since the launch of the ETH ETF remains evident. This context is crucial for understanding whether the leverage bid stems from retail speculation or early institutional accumulation.
According to CryptoQuant, the outcome will either be funding rates cooling as leveraged longs are flushed out, or a price breakthrough that validates the leverage position.
The eventual dominant signal, whether from builders, exchange capital, or derivatives, will only be clear as these paths unfold. Until then, the three-signal convergence remains the primary focus.
XRP price is trading around $1.13, up about 2% over the past 24 hours. Those modest gains hide a much larger binary risk approaching. A Senate deadline could determine whether XRP secures the regulatory clarity many institutional investors want or loses its biggest legislative catalyst for now. That possibility still appears underpriced, leaving traders on edge.
Meanwhile, the crypto market is sending mixed signals. Bitcoin and Ethereum have spent the past two days moving sideways, and large-cap altcoins, including XRP, are following suit. XRP has traded between $1.12 and $1.16 during the past day, reflecting consolidation with no decisive trend.
The Clarity Act has 14 working days left to become law.
The bill must reach Senate floor next week before August recess with ethics provisions unresolved.
Writing an important thesis about this on Substack today or tomorrow. https://t.co/8PnZcdZ61r
Even so, price stability does not mean risk has disappeared. XRP has increasingly become a legally driven trade, with sentiment shifting alongside every regulatory headline. Any court filing, settlement rumor, or signal from lawmakers before Thursday could trigger a sharp repricing.
The real question is the direction of that move. A favorable outcome could strengthen confidence and attract fresh institutional demand. On the other hand, another delay or disappointing development may leave XRP stuck in its current range, or even spark another wave of selling as traders unwind expectations.
Can XRP Price Break $1.25 Before the Senate Deadline?
XRP has been consolidating around the $1.08 to $1.15 range over the past week. The $1.10 area continues to act as a short-term pivot, while support sits near $1.05 after holding several recent pullbacks. Meanwhile, sellers have repeatedly defended the $1.15 to $1.20 zone.
Recent trading volume has offered little conviction despite the rebound. Instead, the move looks more like traders adjusting positions than chasing a fresh trend. That often happens before major headlines, when market participants prefer waiting over making aggressive bets.
The bullish scenario remains straightforward. If Senate legislation advances or Ripple receives favorable legal news, XRP could break above $1.20 with strong volume. That would expose the next resistance around $1.30 to $1.40, where sellers may try to slow the rally.
Xrp (XRP)
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The base case assumes no meaningful update arrives. In that situation, XRP could remain trapped between $1.08 and $1.15 as traders wait for the next catalyst. XRP Price action is likely to remain choppy until fresh news shifts sentiment.
The bearish case comes into play if legislation stalls or regulatory pressure increases again. A decisive break below $1.05 could send XRP toward the $1.00 level first. If that support fails, the next buying zone sits around $0.90 to $0.95.
Technically, XRP still appears compressed, and those conditions rarely last forever. Once a catalyst arrives, the move could develop quickly in either direction. Position sizing ahead of Thursday remains the key consideration because this setup is unlikely to stay quiet for long.
Maxi Doge Targets Early-Mover Upside as XRP Tests Key Levels
XRP at $1.13 is, at minimum, a known asset with a nine-figure market cap and a legal binary that limits near-term upside to a defined range. Even the optimistic $1.50 target represents roughly a 30% move from current levels. It’s respectable, but not the kind of asymmetric return early-stage exposure can theoretically offer.
Traders watching the XRP setup and seeking a different risk profile have been rotating attention toward early presale positions.
Maxi Doge ($MAXI), available at $0.000283 per token, has pulled in $4.8 million in total raised, a number that signals meaningful community traction without the dilution risk of a fully saturated cap.
POV: The government trying to work out how to tax capital gains on assets that price fluctuate pic.twitter.com/MXJPJDRzzJ
Built on Ethereum as an ERC-20 token, the project is positioned around a “leverage king” trading culture. It has a holder-only competition with leaderboard rewards, a Maxi Fund treasury for liquidity and partnerships, and meme-first marketing built around a 240-lb gym-bro mascot embodying 1000x trading mentality.
The staking program runs on a dynamic APY structure. The tagline, “never skip leg-day, never skip a pump,” commits to the bit. As with any presale, token value post-launch is speculative, and capital loss is a real outcome.
In Bitcoin news today, shareholders of Satsuma Technology voted by more than 90% on Monday to sell the company’s remaining 668 BTC, worth roughly $43.5M at current prices, and to cancel its LSE delisting, overruling four of six board members and formally ending a Bitcoin treasury experiment that lasted less than 12 months.
The decision crystallizes one of the sharper destructions of investor capital in the UK crypto space: against the £163.6M raised in August 2025, shareholders now expect to recover between £26.8M and £30M after wind-down costs, less than 20 pence on the pound.
This latest Bitcoin Treasury firm news dropped as BTC climbed a modest +0.4% overnight, dropping under $66,000 since yesterday but still trading at $65,700, with a daily trading volume of $31.8Bn.
JUST IN: Shareholders of Mark Moss-backed British #Bitcoin treasury company Satsuma Technology ($SATS) have voted to sell all of its remaining 668 BTC, return capital to shareholders, and shut down the company. pic.twitter.com/1kdDkazYMc
— BitcoinTreasuries.NET (@BTCtreasuries) July 21, 2026
Bitcoin News Today: From £163M Raise to Fractional Recovery
Satsuma started life as TAO Alpha, a small AI firm, before rebranding and pivoting to a Bitcoin treasury accumulation strategy. In August 2025, it hired Mark Moss, an American Bitcoin commentator with over 700,000 YouTube subscribers, as Chief Bitcoin Strategist.
The firm then raised £163.6M through convertible notes led by ParaFi Capital, with Pantera Capital, Digital Currency Group, and Kraken participating. Some investors contributed 1,097 BTC directly in place of roughly $97M in cash.
The stock peaked around £14 per share in June 2025. Bitcoin reached its $126,000 all-time high in October before sliding into the current crypto winter, dragging Satsuma’s share price with it.
By December 2025, the company was already liquidating assets to stay solvent, selling 579 BTC for £40M to repay noteholders who declined to convert their debt into equity.
The CFO departed in February 2026; the CEO followed in March. By April, shares had lost more than 99% of their June 2025 peak value, trading at fractions of a penny. At that point, Pantera Capital, holding approximately 6.7% of Satsuma’s stock, began publicly calling for a full liquidation, with a straightforward rationale.
The company’s market cap had fallen well below the value of the Bitcoin on its balance sheet, making the equity position strictly worse than owning the underlying coin. A shareholder group representing more than 20% of issued capital formally put the resolution to a vote.
The board split hard. Four of the six directors opposed liquidation, arguing that Satsuma remained a viable, publicly listed corporate vehicle for Bitcoin. Two sided with shareholders. The 90%-plus vote to wind down left the board majority’s position moot.
Satsuma’s collapse is the most visible failure yet of the DAT, a digital asset treasury structure that proliferated across UK small-caps in 2025.
These companies, modeled loosely on MicroStrategy’s approach, give equity investors indirect exposure to Bitcoin while bolting on a thin operating business to satisfy UK listing rules on alternative investment fund classification.
The structure works when Bitcoin price momentum and equity premiums reinforce each other; it unravels quickly when both reverse simultaneously, as the convertible note obligations create a sell-to-survive dynamic at exactly the wrong point in the cycle.
The wind-down proceeds through a “B Share Scheme,” a UK legal mechanism for distributing cash assets back to shareholders. Estimated termination costs run to £2.7M: legal fees, severance, delisting charges, and run-off insurance.
Combined with the £40M recovered from December’s BTC sale, the total capital returned is roughly £66–70M, against the £163.6M raised.
Critically, convertible noteholders rank above common equity in the payout waterfall, so ordinary shareholders may receive considerably less than even those aggregated figures suggest.
Satsuma was the second-largest UK-listed Bitcoin treasury company by holdings at the time of the vote. The Smarter Web Company, holding 2,878 BTC, currently sits at the top of that ranking and has not indicated any plans to wind down, though Satsuma’s outcome will sharpen investor focus on the NAV-to-market-cap gap across all remaining UK crypto treasury vehicles.
The contrast with Michael Saylor’s approach, maintaining Bitcoin conviction through drawdowns rather than liquidating under shareholder pressure, is a live debate in the corporate Bitcoin treasury space right now.
Bitcoin News: Court Approval and Satsuma Delisting Timeline
UK High Court hearings to approve the capital return scheme are scheduled for August and September 2026. The LSE delisting is expected in mid-September, with shareholder payments due by late September.
High Court hearings to approve the capital return are set for August and September 2026, before distributions begin. For traders still holding Satsuma shares, the key variable is whether the 668 BTC sale executes above or below current spot.
With the Bitcoin price trajectory remaining contested at current levels, even a modest move in either direction will shift the final distribution range away from the £26.8–30Mestimate. Noteholders’ priority claim means ordinary equity holders are effectively last in line for whatever remains after costs are settled.
ADA is trading at $0.1715, down about 3% after rallying by 7% the previous day, just before the Midnight bridge hack. The timing could hardly be worse. The exploit has handed Cardano bears a fresh price prediction, leaving us wondering how much further sentiment can weaken before buyers return.
BlockSec’s Phalcon monitoring flagged an exploit on the Wanchain Cardano-to-BNB Chain bridge that drained about 515 million NIGHT tokens, worth $9 million. Investigators linked the attack to a signed message encoding flaw in the TreasuryCheck validator that enabled signature reuse. As a result, unauthorized withdrawals emptied most of the bridge treasury.
Charles Hoskinson Links Wanchain Cardano Bridge Hack To AI Threats
Charles Hoskinson (@IOHK_Charles) says the $10 million Wanchain bridge exploit highlights the growing security threats facing crypto.
NIGHT plunged more than 30%, briefly hitting a record low near $0.015 before stabilizing. The stolen tokens represented the bridge’s reserves rather than user wallets, and Midnight said its core blockchain and validators remained unaffected. Still, that distinction did little to calm traders as selling pressure spread across exchanges.
Bridge exploits rarely stay confined to one token. With Midnight viewed as an important project within the Cardano ecosystem, confidence quickly spilled into ADA. Yesterday’s rally vanished as traders rushed to reduce risk, leaving ADA under pressure even though the exploit targeted third-party bridge infrastructure instead of Cardano itself.
Cardano Price Prediction: Can ADA Reclaim $0.20 This Week?
ADA is trading near $0.1715, keeping it in the lower half of its recent range. Support remains around $0.16, while the $0.18 to $0.20 zone continues to reject rallies. The seven-day recovery has faded after the Midnight Bridge hack, leaving momentum fragile instead of convincing.
The technical structure still points to consolidation rather than a confirmed reversal. Many traders continue watching the $0.18 to $0.20 area as the key decision zone. A strong close above that range could open the door to $0.25, while another rejection may send ADA back toward $0.16.
Cardano (ADA)
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The best case depends on improving market sentiment and a credible recovery plan from the Midnight team. If confidence returns and ADA reclaims $0.20 with strong volume, buyers could target $0.25. That would also help restore confidence across the Cardano ecosystem.
The base case remains a period of sideways trading between $0.16 and $0.20 as traders assess the exploit’s impact. However, if sentiment worsens and ADA loses $0.16, sellers could quickly push the price toward $0.15 or lower.
Bridge exploits remain one of crypto’s biggest security risks, and this incident is another reminder. As Cardano expands its sidechain ecosystem, security will remain a top priority. Until confidence fully returns, ADA rallies may continue running into selling pressure.
LiquidChain Targets Early Infrastructure Upside as Cardano Tests Key Levels
The Midnight exploit cuts to a structural problem that predates Cardano: fragmented liquidity across chains creates both security attack surfaces and execution inefficiency. Traders rotating out of ADA exposure, or simply reassessing ecosystem risk, are scanning for infrastructure plays where the thesis doesn’t hinge on a single bridge’s validator code holding up.
LiquidChain is a Layer 3 infrastructure project built around a Unified Liquidity Layer that fuses Bitcoin, Ethereum, and Solana liquidity into a single execution environment. The architecture is designed around Deploy-Once access, so developers write once and reach all three ecosystems.
The next generation of infrastructure won't stand alone.
Liquid is also equipped with Verifiable Settlement and Single-Step Execution as core primitives. As of today, the presale has raised $915K at a current price of $0.01482 per $LIQUID.
The cross-chain problem LiquidChain is targeting is demonstrably unsolved, as today’s exploit underlines. Research LiquidChain here before the raise closes.
The UK Parliament’s Crypto and Digital Assets All-Party Parliamentary Group has launched a formal inquiry into why banks refuse to open accounts and block payments for crypto businesses. Written evidence will be accepted until August 31, while the group aims to publish recommendations before the FCA’s mandatory crypto regime begins in October 2027. The move tests whether the UK’s ambition to become a global digital asset hub can survive banking restrictions.
The inquiry was announced on Tuesday by co-chairs Lord Vaizey of Didcot and Labor MP Gurinder Singh Josan CBE. It covers difficulties opening and maintaining business accounts, transfer limits, payment blocks, and whether banks apply restrictions proportionately. It will also compare the UK’s approach with the US, Hong Kong, Australia, and the European Union.
The APPG outlined its concern clearly. It said crypto and digital asset firms have consistently reported difficulty accessing UK banking services. The group added that banking access is essential for legitimate businesses, while unnecessary barriers risk slowing investment, innovation, and long-term growth.
The scale of the issue remains significant. Research from the UK Cryptoasset Business Council, published in January 2026, found roughly 40% of payments to crypto exchanges were blocked or delayed by UK banks. One platform reported almost £1 billion in rejected transactions during 2025. Meanwhile, 80% of exchanges saw customer friction increase, while 70% described banking conditions as more hostile than a year earlier.
UK LAWMAKERS LAUNCH INQUIRY INTO CRYPTO BANKING ACCESS!
UK parliamentarians have launched an inquiry into the challenges crypto firms face in obtaining traditional banking services.
The probe aims to address barriers that have hindered the sector’s growth and integration with… pic.twitter.com/aSqFNBRRPx
Those findings contrast with the government’s stated position. HM Treasury Economic Secretary Lucy Rigby told Parliament in March 2026 that licensed crypto firms should not face restrictions simply because they operate in the sector. As a result, the inquiry will examine why FCA-registered businesses continue facing banking hurdles despite regulatory progress.
UK Crypto and FCA Framework Sharpen the Debanking Question
The inquiry also follows the UK’s finalized FCA crypto framework. The authorization window opens in September 2026, while full compliance becomes mandatory on October 25, 2027. If licensed firms still struggle to secure banking services, confidence in the new regulatory framework could suffer.
Meanwhile, comparisons with overseas markets continue to grow. In the United States, crypto companies have compared banking restrictions to Operation Chokepoint 2.0. Kraken recently secured a $22 million settlement from an auditor it claimed abandoned the exchange during that period. In Australia, Coinbase has also criticized banks over restrictions on crypto-related services. The APPG will assess how competing jurisdictions have handled similar challenges.
The inquiry arrives during a political transition. Andy Burnham became Prime Minister on Monday, while John Healey was appointed Chancellor of the Exchequer. Legal experts say global financial firms will closely watch whether the new government delivers a stable regulatory environment for digital assets and financial services.
Written submissions will be accepted from July 21 through August 31 across banking, payments, fintech, and crypto sectors. The APPG will then publish recommendations before the October 2027 deadline. Industry participants are expected to advocate for case-by-case risk assessments instead of blanket restrictions on FCA-registered crypto firms.
The hardware wallet market has seen a quiet revolution over the past few years. Even though traditional USB-style devices like Ledger and Trezor still dominate the conversation, a new category of card-shaped cold wallets has emerged. These devices look like credit cards, fit in your wallet, and use NFC to sign transactions. No cables, no batteries, no Bluetooth pairing. Just tap and go.
Two names stand out here; DCENT S and Tangem. Both use EAL6+ certified secure elements, and both promise to make self-custody easier than ever. But they take fundamentally different approaches to one critical area – backup and recovery. This single difference shapes everything else about how these wallets work and who they are for.
DCENT S launched in July 2026 as the latest offering from IOTRUST, a South Korean company with years of hardware wallet engineering experience. Tangem has been around longer and comes from Switzerland, with a strong focus on simplicity and beginner accessibility. Both have loyal followings, but they serve slightly different users.
This comparison breaks down every important aspect of these two wallets so you can decide which one fits your needs. We will look at design, security, backup systems, supported assets, daily usability, mobile apps, and overall value.
DCENT S vs Tangem: Quick Comparison
Design & Build Quality
Both wallets use a credit-card-sized form factor. The DCENT S measures 85.6 by 54 millimeters and comes in at just 0.9 millimeters thick. That is thinner than most standard payment cards. Tangem is similarly sized and feels just as slim and lightweight. Both devices fit easily into any wallet slot alongside your other cards.
Tangem offers an additional form factor that D’CENT does not; a wearable ring. If you prefer something even more convenient than a card, the Tangem ring lets you carry your wallet on your finger. It is a nice option for people who do not want to carry another card or who simply like the novelty of a crypto ring.
The build quality on both is excellent. DCENT S carries an IP69 dust and water resistance rating, while Tangem goes slightly higher with IP69K. In practical terms, both can survive being dropped in water, exposed to dust, and subjected to everyday wear and tear. Tangem also advertises resistance to X-rays, electrostatic discharge, and electromagnetic pulses, which adds another layer of durability for people who travel frequently or work in environments where such exposure is possible.
Temperature tolerances are similar. DCENT S operates from minus 30 to plus 50 degrees Celsius, while Tangem works from roughly minus 25 to plus 50 degrees Celsius. Either wallet will function in hot cars, freezing winters, or tropical climates.
The one difference that stands out is that Tangem offers a 25-year warranty on their hardware, while DCENT S provides a limited lifetime warranty. Both are generous, and neither company expects you to replace your wallet anytime soon.
Security & Private Key Protection
This is where both wallets are remarkably similar – and that is a good thing. Both use EAL6+ certified secure elements. This is the same level of security certification used for government IDs, passports, and EMV payment cards. It protects against both invasive physical attacks and non-invasive side-channel attacks.
The private key generation process is identical in concept. When you set up either wallet, the secure element generates your private key on-device. The key never leaves the chip under any circumstances. It never touches your smartphone, never goes to the cloud, and never gets stored on company servers.
Both wallets are battery-free and get powered entirely by your phone’s NFC field during signing sessions. This means there is no always-on power source that could be exploited. The card is inert until you tap it against your phone, which significantly reduces the attack surface compared to Bluetooth-enabled wallets that remain discoverable.
Tangem adds anti-counterfeit verification through their app, which lets you confirm that your card is genuine before you use it. DCENT S does not emphasize this feature in their marketing, though the secure element itself provides strong protection against cloning attempts.
Firmware security is another point where Tangem has an edge in transparency. They have had their firmware independently audited by Kudelski Security in 2018 and Riscure in 2023. DCENT S is newer to the market, and while their secure element is certified, they have not published equivalent third-party audit results at this stage.
Both wallets lock themselves automatically after repeated incorrect PIN entries, and both include tamper protection that locks the card if someone attempts to physically extract the chip.
Backup & Recovery
This is where the two wallets diverge completely, and it is the single most important difference between them.
DCENT S uses what they call the R3covery Card. Every box contains two cards – the main DCENT S for everyday transactions and a dedicated recovery card. The recovery card cannot sign transactions. Its only purpose is to restore your wallet if you lose your primary card. The backup is stored inside another EAL6+ secure chip, so your recovery data is never displayed as words, never written on paper, and never typed anywhere.
If you lose your DCENT S, you tap the R3covery Card against your phone, restore the wallet, and then move everything to a new DCENT S card. The recovery card itself remains a high-value target because whoever holds it can restore your wallet. The company recommends storing the two cards in different physical locations.
Tangem takes a different approach. Instead of a dedicated recovery card, they sell wallet sets that include two or three identical cards (or combinations of cards and a ring). During setup, the private key is securely copied to all devices in the set. Any of these duplicate cards can function as the primary wallet. If you lose one card, you simply use another from your set.
The Tangem approach means you do not need to order a replacement card just to restore access. You already have a backup ready to go. The downside is that every card in your set can sign transactions. If someone gets hold of one of your backup cards and knows your PIN, they have full access to your funds. With DCENT S, the recovery card cannot sign anything, so even if stolen, it is useless without the main card and PIN.
There is a trade-off here. Tangem offers immediate redundancy – you have multiple working cards from day one. DCENT S offers a recovery-only backup that cannot be misused for transactions but requires you to obtain a new primary card after loss.
Supported Coins & Networks
DCENT S supports over 100 blockchain networks and more than 4,900 tokens. Tangem supports more than 90 blockchain networks and over 14,000 tokens.
In practice, both wallets cover all the major assets you are likely to hold. Bitcoin, Ethereum, XRP, Solana, Stellar, Polygon, and BNB Chain are supported on both. New chains are added through app updates on both platforms, so you do not need to update the physical card firmware.
Where DCENT S distinguishes itself is in XRP support. The company has been working with the XRP Ledger since 2018, and they make a point of emphasizing full XRPL functionality. Trust Lines, decentralized applications, swaps, sending, receiving, and holding XRP are all fully supported. If you are active on the XRP Ledger, DCENT S feels like it was built specifically for you.
Tangem supports XRP as well, but they do not make it a central part of their marketing. For most users, both wallets cover everything they need. The difference in token count is more about counting methodology than actual compatibility.
Ease of Setup & Daily Use
Both wallets are exceptionally easy to set up. Tangem claims a two-minute setup time, while DCENT S estimates three minutes. In reality, both are fast enough that the difference is negligible. You download the app, tap the card, create a PIN, and you are ready to send and receive crypto.
Daily use is where the similarity continues. Both wallets require an NFC-enabled Android or iPhone. You open the app, create a transaction, tap the card against your phone, wait about one second for the signing to complete, and the transaction is broadcast. No cables, no pairing, no charging.
Neither wallet has a display, which means you cannot verify transaction details directly on the device. You rely on the app to show you the transaction details before you sign. This is a trade-off for the card form factor – traditional hardware wallets with screens offer an extra layer of verification that these card wallets cannot provide.
For people who frequently use their crypto on mobile devices, both wallets feel natural. The tap-to-sign workflow is almost identical to using a contactless payment card. It takes the friction out of self-custody and makes it feel like a normal part of your daily routine.
Mobile App Experience
The DCENT app and Tangem app both serve as the primary interface for managing your assets. They let you send and receive crypto, view your portfolio, and track transaction history. Both apps are available for Android and iOS.
Tangem’s app has been around longer and benefits from more mature feature development. It offers built-in swapping through integrated providers, staking support for certain assets, and the ability to connect to decentralized applications. The portfolio tracking and market price features are polished and regularly updated.
DCENT’s app is part of a broader ecosystem that includes their other hardware wallet products. It is clean, functional, and gets the job done. The app supports swapping, portfolio tracking, and all the basic functions you need. It may not have quite as many built-in services as Tangem, but it covers the essentials well.
Both apps are beginner-friendly and do not assume prior experience with cryptocurrency. If you can use a basic banking app, you can use either of these.
Price & Value
Pricing for both wallets depends on the configuration you choose. Tangem offers two-card and three-card sets, with higher prices for larger sets. The ring version is also priced higher than the card version. DCENT S comes as a single primary card plus the R3covery Card in every box.
DCENT S launched with free U.S. shipping, delivered duty paid, a 30-day money-back guarantee, and a limited lifetime warranty. Tangem typically offers similar shipping options and warranty coverage, though their standard warranty is 25 years rather than lifetime.
When comparing value, the backup method matters. With Tangem, you are paying for multiple working cards upfront. With DCENT S, you get one working card and one recovery-only card. If you lose your primary DCENT S, you need to buy a replacement. If you lose a Tangem card, you already have another one in your set.
Tangem and DCENT S take different approaches to backup. Tangem focuses on immediate multi-card redundancy, while DCENT S separates daily use from recovery by pairing the main card with a dedicated R3covery card.
DCENT S vs Tangem: Pros & Cons
DCENT S Pros:
Dedicated recovery card that cannot sign transactions
Seedless setup available
Full XRPL support with Trust Lines, dApps, and swaps
Thinner card design at 0.76mm
Limited lifetime warranty
Korean hardware engineering with design and assembly in South Korea
More mature app with built-in staking, swapping, and dApp connectivity
Available in ring form factor
Independent firmware audits by Kudelski and Riscure
Tangem Cons:
Every backup card can sign transactions (higher risk if stolen)
No dedicated recovery-only card option
Slightly thicker than DCENT S
Less emphasis on XRP-specific features
Which Wallet Should You Choose?
After spending time with both wallets and looking closely at what each one offers, I lean toward the DCENT S for most users. The deciding factor is the backup system.
Tangem gives you multiple identical cards that all work as primary wallets. This is convenient, no question about it. If you lose one card, you grab another from your set and keep going. But here is the catch – every single one of those cards can sign transactions. If someone steals one of your backup cards and figures out your PIN, they have full access to your funds. The redundancy is nice, but the security model is less segmented.
DCENT S takes a different approach that I find more thoughtful. The R3covery Card cannot sign transactions. Its only purpose is to restore your wallet. This means even if someone gets hold of your backup card, they cannot move a single coin without also having your primary card and PIN. That separation between daily use and emergency recovery is a smarter security design. You store the two cards in different places, and you have built-in protection against a single point of failure.
The XRP support on DCENT S is another strong reason to choose it. Full XRPL functionality with Trust Lines, decentralized applications, and swaps makes it the obvious choice if you hold XRP or interact with the XRP Ledger. Tangem also supports XRP, but DCENT S places more emphasis on XRP-oriented workflows and recovery-focused positioning.
There is also something to be said for a company that has been building hardware wallets since 2017 and serves users across 220 countries. IOTRUST has engineering experience that predates many of their competitors. The DCENT S is designed and assembled in South Korea, which speaks to the quality control and manufacturing standards you get with the product.
At the end of the day, both wallets represent a major step forward in making self-custody accessible. But the DCENT S offers a more secure backup architecture, better XRP support, and the peace of mind that comes from knowing your recovery card cannot be used against you. That is why I would choose it over Tangem.
In Solana news today, the network’s total stablecoin market cap crossed $15Bn for the first time, according to Token Terminal data. The question the number forces onto the table is whether this supply base holds structural depth or remains tethered to cyclical retail flows.
USDC accounts for a large share of Solana’s stablecoin supply, with DeFiLlama reporting USDC at $7.09Bn and total Solana stablecoins at $15.16Bn. Circle’s $250M USDC minting on Solana has been reported as part of a pattern of supply growth contributing to the $15Bn milestone.
This Stablecoin surge across the Solana network comes as SOL USD spiked +3% over the past 24-hours, reaching over $78, with a daily trading volume of $1.94Bn.
Solana News: Beyond USDC/USDT and the New Stablecoins on the Block
The more structurally significant development sits outside the USDC/USDT duopoly. The non-USDC/USDT stablecoin segment on Solana hit an all-time high of $4.81Bn, driven by USD1 and USDG, according to SolanaFloor data. That segment now accounts for nearly one-third of Solana’s total stablecoin market cap.
USD1, a dollar-pegged stablecoin associated with World Liberty Financial, and USDG (Global Dollar) are the primary drivers of that growth.
USDT sits at $2.91Bn on Solana per DeFiLlama, leaving the remaining $4.81Bn distributed across these newer entrants. The diversification of the issuer base matters: it signals that dollar liquidity on Solana is no longer a two-party dependency.
Anchorage Digital’s USDGO reached a $1Bn market cap on Solana, up approximately 20x since January 2026. USDGO is a regulated, USD-pegged stablecoin launched on Solana in February 2026.
Two Demand Drivers, One Supply Stack
JUST IN: Total stablecoin market cap on @solana surpasses $15B, marking an all-time high.
Leading currencies: USD, EUR, & more Leading assets: USDC, USDT, USD1, USDGO, & more Leading issuers: Circle, Tether, Paxos, & more
Solana’s stablecoin boom is being driven by two overlapping forces that reinforce each other but do not depend on each other. The first is renewed retail activity: DEX trading volume on Solana rose 13.1% week over week, daily transactions climbed 17.3%, and TVL expanded 12.5%, per DeFiLlama metrics.
Memecoin cycle activity is generating real on-chain dollar demand, with Jupiter and Raydium as notable liquidity venues. More than $900M in new stablecoins were minted in a single 24-hour window per Token Terminal.
The second driver is settlement-layer adoption. BlockEden reports Solana processed $650Bn in adjusted stablecoin volume in February 2026, surpassing Ethereum and Tron combined. That figure predates the current $15Bn supply milestone by several months, implying settlement throughput has likely expanded further since then.
DeFi protocols on Solana benefit directly from deeper stablecoin liquidity, tighter spreads, higher utilization rates, and more capital-efficient collateral pools, all of which follow from a larger on-chain dollar base. The growing dominance of Solana in tokenized assets, which hit a record $6Bn in Q2, compounds this dynamic: real-world asset settlement and stablecoin liquidity are co-locating on the same chain.
The regulatory context is not peripheral here. Stablecoin legislation moving through Congress, including a Crypto Clarity Act framework discussed toward a Senate vote, could create clearer rules of the road for stablecoin issuers. A clear federal standard accelerates institutional issuance and removes regulatory ambiguity that has kept some treasury desks from deploying at scale on public chains.
In other Solana news, the $15Bn supply level confirms that Solana has accumulated a dollar base large enough to sustain serious DeFi and settlement activity independent of any single issuer.
It does not confirm that this base is cycle-resistant. A meaningful portion of current stablecoin demand on Solana is memecoin-adjacent, speculative liquidity that migrates when retail attention rotates.
The non-USDC/USDT segment’s 15x growth since January 2025 is impressive, but some of that reflects specific product launches (USDGO’s February debut, USD1’s expansion) rather than purely organic demand accumulation.
The credible bear case is a memecoin cycle cooling combined with stalled stablecoin legislation, which would simultaneously slow both retail-driven USDC minting and institutional USDGO deployment.
The bull case is that institutional settlement demand, evidenced by USDGO’s trajectory and Solana’s stablecoin volume market share, provides a structural floor that persists through retail drawdowns.
Circle’s aggressive minting cadence and Anchorage Digital’s institutional positioning suggest at least one major issuer is betting on the latter.
On Tuesday, July 21, 2026, institutional capital showed sustained momentum as Bitcoin (BTC) climbed back above $66,000. This recovery, fueled by five consecutive days of net inflows into US spot ETFs, has stabilized the market after a period of volatility near the $60,000 support level. As capital flows back into the primary digital asset, market attention is shifting toward infrastructure projects capable of bridging Bitcoin’s liquidity with other major ecosystems. Among these, the LiquidChain (LIQUID) presale has secured over $914,000, approaching its $1 million target ahead of the month’s end.
On Monday, US spot Bitcoin ETFs registered a net inflow of approximately $227 million, reversing the net outflows recorded during May and June. BlackRock’s IBIT led the session with $116 million in net inflows, bringing total net assets across all US spot Bitcoin products to nearly $79 billion. This sustained buying pressure pushed Bitcoin past $66,000, with 24-hour trading volume exceeding $31 billion.
According to analyst Ted Pillows, clearing the $65,000 resistance opens the door for a near-term target of $68,000, with potential for further upward momentum.
While spot exposure remains the primary vehicle for institutional entry, Bitcoin’s price stabilization is driving interest in decentralized applications and infrastructure that expand the utility of idle BTC.
LiquidChain Targets Cross-Chain Fragmentation with Layer 3 Network
To address capital fragmentation across major networks, LiquidChain (LIQUID) is building a Layer 3 execution environment. The network aims to connect Bitcoin’s liquidity with Ethereum’s decentralized finance (DeFi) ecosystem and Solana’s execution speed. By leveraging a Solana-class virtual machine, trust-minimized state verification, and cross-chain proofs, the protocol enables atomic settlements without relying on traditional wrapped assets.
The native LIQUID token serves as the network’s utility asset, powering transaction fees, staking, and governance. The total supply of LIQUID is capped at 11.8 billion tokens, structured as follows:
Development: 35%
Marketing and Growth: 32.5%
Business Partnerships: 15%
Staking and Rewards: 10%
Exchange Listings: 7.5%
The ongoing presale has raised more than $914,000, with the current token price set at $0.01482. The next incremental price increase is scheduled to take effect in two days.
Presale Access and Staking Integration
Participants can access the presale via the official LiquidChain website by connecting a compatible Web3 wallet. Alternatively, the presale is integrated into the Best Wallet mobile application under its “Upcoming Tokens” section, available for download on the Apple App Store and Google Play.
The presale supports multiple payment methods, including BTC, ETH, SOL, BNB, USDT, USDC, and direct credit/debit card purchases. Upon acquiring LIQUID, participants can opt to stake their tokens immediately to access a dynamic staking yield of 1,231% APY, which will adjust as the staking pool grows.
A single Robinhood transaction just moved 200 million DOGE, and the market wants to know who’s behind it. Dogecoin trades above $0.073, holding modest daily gains. However, the real story sits beneath the surface. Open interest has climbed above $1.08 billion, while derivatives activity continues to heat up. That combination usually means volatility is at the door.
Meanwhile, traders are watching a thick liquidation cluster around $0.074. If bulls push through, short sellers could fuel a sharp squeeze. If momentum fades instead, late buyers may find themselves trapped. Either way, the next move looks unlikely to be a quiet one.
Dogecoin whales purchased another 200 million $DOGE on Robinhood.
Naturally, Elon Musk’s name has returned to the conversation. There is no evidence linking him to the transaction, and no wallet data confirms his involvement. Still, every large Dogecoin buy raises the same question. Given Musk’s history of moving DOGE with little more than a post, the rumor mill rarely needs much encouragement.
For now, the market has more questions than answers. Bitcoin’s next move could easily determine Dogecoin’s direction, while any surprise social media post could add fuel to the fire. Until the mystery buyer steps into the spotlight, traders will keep guessing. And if history has taught Dogecoin anything, sometimes the biggest rallies start with a single unexplained transfer.
Can Dogecoin Price Reclaim $0.075 and Force a Short Squeeze This Week?
DOGE is hovering near $0.074, sitting around the 50% Fibonacci retracement level. The memecoin recently reclaimed this area but still needs to confirm it as support. That makes the level worth watching.
The latest liquidation heatmap outlines the battlefield clearly. Support sits between $0.0710 and $0.0726, while resistance stretches from $0.0754 to $0.0796. The Supertrend indicator also caps the near-term upside around $0.0796. However, spot demand and on-balance volume remain soft. That mismatch often leaves leveraged longs and shorts walking on thin ice.
Dogecoin (DOGE)
24h7d30d1yAll time
The bullish path starts with DOGE holding above $0.074. If buyers keep control, short liquidations could fuel a quick move toward $0.0755 and $0.076. Nothing goes up forever, but meme coins rarely send a calendar invite before they sprint.
The base case remains a familiar grind. DOGE could continue ranging between $0.071 and $0.074 until a fresh catalyst arrives. On the other hand, losing $0.071 would weaken the setup. That could send the price back toward $0.070 as leveraged positions unwind.
Longer term, analyst Trader Tardigrade still points to cycle targets of $0.653, $0.70, and even above $1.25. Those projections depend on another full crypto bull cycle instead of the current market structure. For now, they work better as long-range markers than actionable trading levels.
Maxi Doge Eyes Early-Stage Upside as DOGE Tests Critical Resistance
DOGE at $0.074 with a $1 billion OI overhang is a trade, not a position. The asymmetry that existed at lower prices has compressed. Even a successful squeeze to $0.076 represents roughly 4% upside from here, meaningful on leverage, limited in spot. Traders looking for a larger risk-reward multiple are scanning earlier on the curve.
Maxi Doge ($MAXI) is an ERC-20 meme token built around a trading community thesis: the 240-lb canine juggernaut persona embodies 1000x leverage culture, and the project channels that into structured community mechanics.
POV: The government trying to work out how to tax capital gains on assets that price fluctuate pic.twitter.com/MXJPJDRzzJ
The presale has raised closer to $5 million at a current price of just $0.000283, with a dynamic staking APY live for holders. Differentiating features include holder-only trading competitions with leaderboard rewards, a Maxi Fund treasury allocated to liquidity and partnerships, and meme-first marketing that leans into gym-bro culture without apology.
The White House has reached an agreement on the Clarity Act ethics provision, the main sticking point blocking a Senate floor vote, and has begun circulating deal language with Republican senators, according to Eleanor Terrett.
The agreement removes what had been the single biggest procedural overhang on the legislation, but the bill still faces a compressed timeline and a 60-vote cloture threshold.
This latest CLARITY Act development comes as the crypto market is bouncing hard, with Bitcoin leading the charge after reclaiming $66,000 on the back of a +3.5% daily move and $31.5Bn in trading volume.
NEWS: I’m hearing from multiple industry sources that the White House has agreed on an ethics package for the Clarity Act and sent the language to certain Senate Republicans this afternoon.
It’s still unclear what the details of the agreement are (I’ve reached out for…
Why the Ethics Provision Stalled the CLARITY Act Bill
The ethics provision at the center of the dispute is designed to prevent senior officials from holding or profiting from digital assets they are responsible for regulating – a structural conflict-of-interest bar that Democrats made a hard condition of their support. The political charge intensified after an Office of Government Ethics disclosure.
The White House’s negotiating position, previously articulated by crypto adviser Patrick Witt, held that any ethics language must apply uniformly rather than targeting the president or his family specifically.
A prior compromise involving state attorneys general as enforcers collapsed after Democrats rejected it as inadequate, and a Senate committee amendment from Sen. Chris Van Hollen failed 13–11 along party lines. The July 20 agreement suggests the two sides found language that threads that needle, though the specific text has not been publicly released.
The Clarity Act is built around establishing a comprehensive federal market-structure framework for digital assets, codifying key elements of US crypto market regulation. It passed the House in July 2025 and cleared the Senate Banking Committee in May 2026.
The bill still needs additional steps before a floor vote can occur. That ethics provision deadlock had driven Senate passage odds into the 40–45% range by late June.
The Senate heads into its August recess after the first week of August, leaving only a matter of weeks for the chamber to process and vote on the legislation this year.
That August deadline has been the defining constraint on the bill’s timeline since spring, and if no vote occurs before the recess, momentum likely slips into 2027. The agreement on the ethics provision is necessary to unlock floor scheduling, but it is not sufficient.
The bill still needs additional steps before a floor vote can occur. The 60-vote threshold means Democratic senators must cross, and the deal language now being shared with Republican senators will need to satisfy Democratic holdouts.
For active traders, the main implication of the passage is regulatory clarity for US exchanges, issuers, and investors. A defined federal framework can reduce legal uncertainty and encourage broader institutional adoption.
Failure carries the inverse risk: if the bill stalls again, regulatory uncertainty extends well into next year, and the political window for a comprehensive market structure bill narrows further.
The ethics agreement meaningfully shifts the probability distribution toward passage, but traders should treat the outcome as unresolved until the revised text clears and Democratic floor commitments are on record.
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