Crypto News & Market Telemetry
Institutional-grade market intelligence, breaking protocol news, and macro signals powered by the Squaby Telemetry Desk.
SEC Cancels Crypto Rules Meeting as CLARITY Act Stalls
The SEC has canceled a scheduled meeting on proposed crypto offering rules after the Senate adjourned for recess without advancing the CLARITY Act. The delay underscores how U.S. regulatory uncertainty continues to shape market sentiment and the outlook for digital asset issuers.
Neutrl Halts NUSD Redemptions Amid Reserve Concerns
Neutrl has paused redemptions for its NUSD product after an undisclosed reserve issue raised fresh concerns about backing, liquidity, and counterparty risk. The move comes after BA Labs previously flagged the integration as high risk, potentially weighing on confidence in yield-bearing stablecoin strategies.
Figure Posts $4.3B Loan Volume as Profit Surges
Figure reported $4.3 billion in loan marketplace volume, while profit nearly tripled as demand for its blockchain-based lending infrastructure strengthened. The company also guided for third-quarter consumer loan marketplace volume of $4.8 billion to $5.2 billion.
Ethereum Foundation Drops Poseidon in Quantum Roadmap Shift
The Ethereum Foundation is reconsidering Poseidon in its post-quantum strategy after compact proof advances removed its earlier efficiency edge, according to researcher Justin Drake. The change highlights how fast-moving cryptography research is reshaping Ethereum’s long-term security roadmap.
SEC Delays Tokenization Exemption as Pressure Mounts
The U.S. Securities and Exchange Commission is expected to delay work on a long-discussed innovation exemption for tokenization, as Wall Street and White House concerns continue to shape the agency’s crypto policy agenda. The pause adds fresh uncertainty for firms building blockchain-based securities products.
Tether Gets Clean KPMG Audit, Posts $6.8B Reserve Buffer
Tether says KPMG has completed its first full audit of the company’s financial statements and issued a clean opinion, with reserves exceeding liabilities by $6.8 billion. The result could strengthen confidence in USDT’s backing and reduce long-running transparency concerns across crypto markets.
Baltimore Sues Kalshi Over Sports Betting Claims
Baltimore has filed a complaint targeting prediction markets tied to sports betting, naming Kalshi alongside partners Robinhood, Webull, and Coinbase. The case could sharpen regulatory scrutiny around event contracts and how they are marketed to retail users.
Tether Says KPMG Completed Its Long-Awaited Audit
Tether says KPMG U.S. has examined the reserves and books supporting its $180 billion USDT stablecoin, marking a major step in the issuer’s years-long push for greater financial transparency. The development could strengthen confidence in USDT as scrutiny of stablecoin reserves and market dominance continues.
Delio CEO Gets 15-Year Jail Term in South Korea Fraud Case
South Korean prosecutors secured a 15-year prison sentence for Delio CEO Jeong Sang-ho over crypto fraud allegations tied to the company’s collapse. The ruling underscores growing regulatory pressure on digital asset firms and may weigh on investor confidence in Korea’s crypto market.
CFTC Steps Up Crypto Regulation Push Without CLARITY Act
The CFTC is moving forward with crypto policy discussions even as the CLARITY bill remains unresolved in Congress. A new Aug. 20 Innovation Advisory Committee meeting will examine digital assets, AI, and prediction markets, signaling active regulatory coordination with the SEC.
Crypto Lobby Backs Custodia in Fed Access Supreme Court Fight
The Blockchain Association has urged the U.S. Supreme Court to limit the Federal Reserve’s discretion in denying direct payment-system access to eligible state-chartered banks, backing Custodia Bank’s challenge. The case could reshape how crypto-friendly banks connect to core financial infrastructure in the U.S.
Public Bitcoin Miners Slash Hashrate as AI Revenue Rises
Public Bitcoin miners reduced their collective hashrate by 13.4% as operators increasingly redirect power, infrastructure, and capital toward AI and high-performance computing. The shift highlights a growing split in the mining sector between firms chasing diversified data-center revenue and those still expanding Bitcoin production.
Bullish Stock Jumps 10% as Q2 EBITDA Triples
Bullish shares rallied about 10% after the crypto exchange operator reported that adjusted EBITDA more than tripled in the second quarter. Record subscription and services revenue added to investor optimism around the company’s improving business mix.
Bitmine’s $257M Staking Income Strengthens ETH Strategy
Bitmine’s estimated $257 million in annualized Ether staking revenue is giving the company a meaningful financial cushion, according to analysts. The recurring income stream may help support operations, reduce reliance on ETH price gains, and potentially fund share buybacks.
SEC Clears Franklin Templeton Tokenized Fund Investment
The SEC has said it will not pursue enforcement action if Franklin Templeton’s funds allocate cash into the asset manager’s own onchain money market fund. The decision marks a notable step toward mainstream acceptance of tokenized fund structures in traditional finance.
Andre Cronje Says DeFi Has Become Onchain Finance
Andre Cronje says the DeFi sector has matured into “onchain finance,” reflecting a broader shift toward real-world financial infrastructure built on blockchain rails. He warns, however, that this evolution has come with trade-offs in decentralization and immutability.
Bitcoin Stalls Under $68.7K as Speculators Exit
Bitcoin remains capped below $68.7K as short-term holders continue to sell into strength, according to Glassnode. The data suggests many recent buyers are trying to exit at breakeven, creating persistent overhead resistance.
BitGo Swings to $19M Q2 Loss Despite Revenue Boom
BitGo reported a $19 million second-quarter loss even as revenue jumped 80% to $4.3 billion, pressured by an $18.8 million unrealized digital asset loss and thinner trading margins. The results highlight how volatile crypto treasury marks and fee compression can offset rapid top-line growth.
Crypto Today: Bitcoin, DeFi and Regulation Market Update
Crypto markets are being shaped by a mix of Bitcoin price action, DeFi activity, Web3 development, and evolving regulation. Here’s a concise market update on the trends that matter most for traders and builders.
Arizona Crypto ATM Law Helps 35 Victims Recover $171K
Arizona’s new crypto ATM protections have already helped 35 scam victims recover $171,000, highlighting how stricter consumer safeguards can reduce losses in fast-moving digital asset fraud cases. The law also requires qualifying new customers to be reimbursed for funds and fees if they report incidents within 30 days.