Author: James Wilson

Paul Grewal has announced that he will step down as Coinbase’s chief legal officer on July 31, handing over leadership of the exchange’s legal team just days before the US Senate is expected to resume work on the CLARITY Act. Summary Paul Grewal will leave his role as Coinbase chief legal officer on July 31 and become an adviser. Molly Abraham will become general counsel as Congress prepares to revisit the CLARITY Act. Coinbase continues pushing for crypto market structure legislation after its SEC lawsuit was dismissed. According to posts Grewal published on X and LinkedIn, he will move into…

Bitcoin has climbed back above $63,000, gaining about 2% over the past 24 hours, as lower oil prices and softer U.S. bond yields have improved sentiment toward risk assets despite the crypto market remaining in extreme fear. Summary Bitcoin has climbed above $63,000 as easing oil prices and lower Treasury yields lifted risk appetite. The Crypto Fear & Greed Index remains in Extreme Fear, showing investor confidence is still weak. Technical indicators suggest improving momentum, with Bitcoin testing key resistance near $63,235. According to data from crypto.news, Bitcoin (BTC) traded around $63,250 on Thursday after recovering alongside other major cryptocurrencies…

CME Group has faced a regulatory setback after the U.S. Commodity Futures Trading Commission delayed the immediate launch of its planned 24/7 crude oil futures trading. Summary The CFTC has delayed CME Group’s planned 24/7 crude oil futures launch pending further regulatory review. Regulators said CME’s self-certified filing requires additional examination due to legal and market concerns. Despite the setback, CME still expects to launch Treasury Link in Q4 2026, subject to approval. According to a press release issued by the U.S. Commodity Futures Trading Commission, the agency invoked its authority under existing regulations to temporarily halt the listing process…

The Trump White House has rejected accusations that it is refusing to nominate Democratic commissioners to the Securities and Exchange Commission and Commodity Futures Trading Commission as the Senate moves closer to debating the CLARITY Act. Summary White House says it requested Democratic nominees for the SEC and CFTC but has not received any names. CLARITY Act negotiations continue as lawmakers debate ethics rules, DeFi provisions, and regulatory appointments. Senators Cynthia Lummis and Ron Wyden have defended different parts of the bill ahead of a Senate vote. According to a letter sent by the White House to Senate Majority Leader…

The Bank of Korea has reaffirmed that won-denominated stablecoins should initially be issued through bank-led consortiums, reinforcing its position as South Korea’s digital asset legislation remains stalled. Summary Bank of Korea has reaffirmed support for bank-led issuance of won-backed stablecoins. The central bank plans to expand deposit-token pilots for public payments and services. Disagreements over stablecoin rules continue to delay South Korea’s Digital Asset Basic Act. According to local reports from Digital Asset and EDaily, the Bank of Korea (BOK) restated its position in documents submitted on Thursday to the National Assembly’s finance committee.  The central bank argued that bank-led…

Wells Fargo has expanded its exposure to Strategy while reducing part of its BlackRock Bitcoin ETF position, according to its latest regulatory filing that also shows larger investments across Ethereum and Solana-linked products. Summary Wells Fargo increased its Strategy stake by 125% while trimming its BlackRock Bitcoin ETF holding. The bank boosted Ethereum ETF exposure, added Solana funds, and expanded positions in Bitmine and Robinhood. SEC filings also show reduced stakes in Coinbase and Galaxy Digital despite broader crypto market exposure. According to the bank’s latest filing with the U.S. Securities and Exchange Commission, the $2.5 trillion asset manager increased…

Strip Bitcoin and Ethereum out of the crypto market and what remains has shed almost a quarter of its value in the first half of 2026, falling to $666 billion while liquidity retreats into a handful of survivors. This is not a crash; crashes end. It is something slower and stranger: a depression in the long tail of crypto, with its own causes, its own refugees, and its own short list of assets that refuse to participate. Summary The ex-Bitcoin and ex-Ethereum crypto market lost nearly 23% in the first half of 2026. Liquidity is retreating from the long tail…

In the two weeks around Bitcoin’s fall to a 21-month low, whale wallets absorbed roughly $16.7 billion of coins while the spot ETFs suffered their worst outflow month on record. The two most powerful forces in Bitcoin’s market structure are positioned in opposite directions, and the resolution of that disagreement is the Bitcoin trade for the rest of 2026. Here is the case for each side, and the tape that will settle it. Summary Bitcoin’s latest drawdown created a sharp split between ETF sellers and whale buyers. Spot ETFs posted record outflows while whale wallets accumulated roughly 270,000 BTC near…

SWIFT has moved its blockchain-based ledger into initial deployment, with 17 global banks preparing to test tokenized deposit payments for round-the-clock cross-border settlements. Summary SWIFT has launched the first phase of its blockchain ledger with 17 global banks set to pilot tokenized deposit payments for round the clock cross border settlements. The new ledger will support weekend and overnight payments while keeping the compliance, risk and control standards used in existing banking systems. The rollout follows months of blockchain development as SWIFT and major banks continue expanding tokenized payment infrastructure. Announcing the development on July 9, SWIFT said HSBC, Citi,…

A reported Justice Department memo has put Binance’s law enforcement cooperation back in focus. The Information reported that DOJ staff were told to expect less support from the exchange in crypto cases starting June 8. Summary DOJ reportedly expects slower Binance action when prosecutors seek account freezes or crypto seizures abroad. Binance denies any change, saying it will keep handling U.S. law enforcement requests as normal. Any shift from courtesy freezes to MLATs could slow fast-moving crypto crime asset recovery work. The reported memo said Binance would stop offering courtesy freezes and would require Mutual Legal Assistance Treaty requests, or…