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The Big Story
Strategy did not buy $BTC this week again
For the second consecutive week, Strategy disclosed no Bitcoin purchases in its SEC filing, instead adding $225 million to its USD cash reserves, which now total $3.2 billion. The pause marks a shift in capital deployment for the company that has become synonymous with aggressive BTC accumulation. No explanation was provided for the halt, but the timing coincides with broader debates over protocol changes and quantum security (topics that Michael Saylor has weighed in on forcefully this week).
Breaking News
USDT Faces Two Year Countdown Under GENIUS Act: Tether's $USDT now has a two-year window to meet compliance standards under the newly passed GENIUS Act or risk losing access to U.S. crypto platforms.
Grayscale Ethereum And Solana ETFs Plan Staking Cash Payouts: Grayscale will convert staking rewards from its Ethereum and Solana ETFs into quarterly cash distributions starting in August.
Circle President Offloads $31M In CRCL Shares Despite Long Term Bet: Circle president Heath Tarbert has sold approximately $30.8 million in CRCL shares through a pre-arranged trading plan since the company's June 2025 IPO.
Drake's $1.5M USDT Bet Fails As Spain Beats Argentina In FIFA World Cup Final: Rapper Drake lost a $1.5 million USDT wager after backing Argentina to beat Spain in regulation time at the 2026 FIFA World Cup final.
Top Stories
Saylor Pushes Back Against Bitcoin Soft Fork Plan
Michael Saylor has come out firmly against Bitcoin Improvement Proposal 110 (BIP 110), urging the Bitcoin community to reject the proposed soft fork. Saylor's opposition centers on concerns about protocol stability and the precedent set by activist changes to the base layer. His public stance adds significant weight to an already contentious debate within Bitcoin's developer and miner communities.
Bitcoin Whales Buy Billions In BTC As Smaller Holders Exit
Wallets holding between 1,000 and 10,000 BTC accumulated 66,700 BTC over the past 60 days, marking their strongest accumulation pace since February. The data suggests large holders are stepping in as mid-tier sellers exit, a classic divergence pattern that has historically preceded major market moves. The accumulation comes as Strategy pauses its own buying program.
CLARITY Act Ethics Debate Hits Critical Moment
Galaxy Digital CEO Mike Novogratz says negotiations over the Digital Asset Market CLARITY Act have reached a pivotal stage, with the remaining dispute concentrated almost entirely on the bill's ethics provision. The narrowing of disagreements signals the legislation may be closer to passage than previously expected. If enacted, the CLARITY Act would establish the first comprehensive regulatory framework for digital asset markets in the United States.
Deep Dive of the Week
How Does Chainlink Verify That Tokenized Gold Is Backed by Real Gold?
Chainlink's Proof of Reserve system pulls data from off-chain gold vaults and publishes it on-chain, allowing anyone to verify that circulating tokens match physical gold in storage. This week's deep dive breaks down the oracle mechanics behind tokenized commodity markets and explains why Proof of Reserve has become the infrastructure standard for bridging real-world assets to DeFi.
By the Numbers
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394 million — Total accounts registered on TRON, with daily active accounts up 4.64% in 24 hours to reach 4.6 million as the network cements its role as a global payments layer.
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66,700 BTC — Accumulated by wallets holding 1,000–10,000 BTC over the past 60 days, the strongest whale accumulation pace since February.
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$3.2 billion — Strategy's current USD cash reserves after adding $225 million this week and skipping Bitcoin purchases for the second consecutive week.
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$30.8 million — Value of CRCL shares sold by Circle president Heath Tarbert through a pre-arranged trading plan since the company's IPO.
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$8.3 million — Cryptocurrency and physical assets forfeited by Angelo Martino, a former ransomware negotiator convicted of colluding with the BlackCat ransomware group.
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Two years — Compliance window for Tether's USDT under the GENIUS Act before potential removal from U.S. crypto platforms.
On Our Radar
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XRP Ledger upgrade — Validators are preparing to vote on a new amendment package that could activate significant protocol changes within weeks.
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Hyperliquid HIP-4 — The protocol has unveiled a proposal for permissionless Outcome Markets, set to launch on testnet before any mainnet deployment.
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PumpFun rally — The platform's native $PUMP token climbed to its strongest level since May 12 after crypto trader Ansem disclosed a position.
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Coinbase vs Chamath — CEO Brian Armstrong pushed back on claims that AI infrastructure poses a structural threat to Bitcoin mining economics.
Until Wednesday.