📰 Crypto firm RedotPay says it will defend itself ‘vigorously’ against Binance lawsuit
RedotPay, which describes itself as the world’s largest stablecoin payment card issuer, told CoinDesk Wednesday it will defend itself “vigorously” against a $470 million Binance lawsuit alleging it poached 470,000 users.
“RedotPay is aware of legal proceedings initiated by Binance and will vigorously defend all claims,” the firm said in an emailed statement. “The Company rejects the unfounded allegations made against it and its co-founders.”
🔗 Source: CoinDesk
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RedotPay, which describes itself as the world’s largest stablecoin payment card issuer, told CoinDesk Wednesday it will defend itself “vigorously” against a $470 million Binance lawsuit alleging it poached 470,000 users.
“RedotPay is aware of legal proceedings initiated by Binance and will vigorously defend all claims,” the firm said in an emailed statement. “The Company rejects the unfounded allegations made against it and its co-founders.”
🔗 Source: CoinDesk
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📰 Here are the possible outcomes for Clarity right now
The fate of the crypto market structure legislation is in a precarious place as the clock ticks down to the Senate's summer recess.
The U.S. Senate has not yet indicated whether it will work on the Digital Asset Market Clarity Act, with justtwo days left in session, and there is no official word on whether or when the legislative body might vote on the bill.
🔗 Source: CoinDesk
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The fate of the crypto market structure legislation is in a precarious place as the clock ticks down to the Senate's summer recess.
The U.S. Senate has not yet indicated whether it will work on the Digital Asset Market Clarity Act, with justtwo days left in session, and there is no official word on whether or when the legislative body might vote on the bill.
🔗 Source: CoinDesk
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📰 CASHCAT jumps 120% in a week as Robinhood Chain hits $774 million of value locked
The cat-themed token that dominated Robinhood Chain's first trading days is up 120% over the past week, recovering part of the slide that followed July's launch frenzy, even as the wave of tokens it launched alongside has thinned out.
CASHCAT tradesnear 8.7 cents, up 22% in the past 24 hours, with a market cap around $86 million on $9 million of daily volume. However, that is still well short of the roughly 22 cents it reached in mid-July.
🔗 Source: CoinDesk
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The cat-themed token that dominated Robinhood Chain's first trading days is up 120% over the past week, recovering part of the slide that followed July's launch frenzy, even as the wave of tokens it launched alongside has thinned out.
CASHCAT tradesnear 8.7 cents, up 22% in the past 24 hours, with a market cap around $86 million on $9 million of daily volume. However, that is still well short of the roughly 22 cents it reached in mid-July.
🔗 Source: CoinDesk
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📰 XRP whales keep buying the dip, but ether shows deeper capitulation
Large XRP holders have kept buying through the token's slide from about $2.40 in January to the current $1.00 to $1.20 range, but they are doing it without lifting the market.
Data from onchain analysis firm CryptoQuant shows average spot order sizes have stayed in what the firm classifies as “big-whale” territory throughout 2026. At the same time, 90-day taker cumulative volume delta, which measures whether buyers or sellers are the aggressors in a trade, has drifted to neutral after a taker-buy-dominant start to the year.
🔗 Source: CoinDesk
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Large XRP holders have kept buying through the token's slide from about $2.40 in January to the current $1.00 to $1.20 range, but they are doing it without lifting the market.
Data from onchain analysis firm CryptoQuant shows average spot order sizes have stayed in what the firm classifies as “big-whale” territory throughout 2026. At the same time, 90-day taker cumulative volume delta, which measures whether buyers or sellers are the aggressors in a trade, has drifted to neutral after a taker-buy-dominant start to the year.
🔗 Source: CoinDesk
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📰 Bitcoin steadies above $64,000 as traders watch $100 billion SpaceX unlock
Bitcoin held above $64,600 on Thursday, up marginally on the day and 0.5% on the week, while the rest of the majors offered little in the way of direction.
Attention is also on Elon Musk-owned SpaceX, where roughly $101 billion of stock becomes tradable Thursday as the first lockup expires. The company holds 18,712 BTC, worth about $1.1 billion at the end of June.
🔗 Source: CoinDesk
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Bitcoin held above $64,600 on Thursday, up marginally on the day and 0.5% on the week, while the rest of the majors offered little in the way of direction.
Attention is also on Elon Musk-owned SpaceX, where roughly $101 billion of stock becomes tradable Thursday as the first lockup expires. The company holds 18,712 BTC, worth about $1.1 billion at the end of June.
🔗 Source: CoinDesk
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📰 S&P 500 added all of crypto's $2 trillion market cap in a month while bitcoin barely moved. Here's why
U.S. stocks are having their moment again, and bitcoin, as it has all year, is sitting this one out. The reasons why go beyond the obvious.
The S&P 500 index has gained 3.12% this month, adding roughly $2.1 trillion in market cap and pushing its total value to a record $70.5 trillion, with its price at 7,723 points. The Nasdaq 100 and Dow Jones Industrial Average are buoyant too. Wall Street, by every measure, is in full risk-on mode.
🔗 Source: CoinDesk
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U.S. stocks are having their moment again, and bitcoin, as it has all year, is sitting this one out. The reasons why go beyond the obvious.
The S&P 500 index has gained 3.12% this month, adding roughly $2.1 trillion in market cap and pushing its total value to a record $70.5 trillion, with its price at 7,723 points. The Nasdaq 100 and Dow Jones Industrial Average are buoyant too. Wall Street, by every measure, is in full risk-on mode.
🔗 Source: CoinDesk
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📰 NFT startup founder charged with misusing funds from $10 million fundraising
Federal prosecutors in Manhattan charged the founder of non-fungible token (NFT) startup Few and Far with securities fraud and wire fraud.
The prosecutors alleged that Taj Tarsha diverted more than $10 million raised from investors into online gambling, cryptocurrency speculation and personal expenses instead of building the company's marketplace.
🔗 Source: CoinDesk
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Federal prosecutors in Manhattan charged the founder of non-fungible token (NFT) startup Few and Far with securities fraud and wire fraud.
The prosecutors alleged that Taj Tarsha diverted more than $10 million raised from investors into online gambling, cryptocurrency speculation and personal expenses instead of building the company's marketplace.
🔗 Source: CoinDesk
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📰 Free Markets and Innovation, Sort Of
The Wall Street Journal's Aug. 4 editorial on the Clarity Act, "Clarity for Crypto, Sort Of," opens by warning that Congress passes bills riddled with policy landmines because members won't do the work of defusing them. That’s a fair worry in general, but it doesn’t apply here. The editorial concedes more than the headline suggests. It credits the bill with ending the regulatory gray zone the last administration left behind, with giving investors and banks rules a future administration cannot simply discard, and with opening a path for innovations like tokenized stocks and bonds that would strip friction and cost out of the financial system. All of that, in the board's own assessment, is worth supporting. The board is not calling to reject Clarity, but for tighter language on a few provisions.
Summer Mersinger is CEO of the Blockchain Association and a former commissioner of the U.S. Commodity Futures Trading Commission.
🔗 Source: CoinDesk
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The Wall Street Journal's Aug. 4 editorial on the Clarity Act, "Clarity for Crypto, Sort Of," opens by warning that Congress passes bills riddled with policy landmines because members won't do the work of defusing them. That’s a fair worry in general, but it doesn’t apply here. The editorial concedes more than the headline suggests. It credits the bill with ending the regulatory gray zone the last administration left behind, with giving investors and banks rules a future administration cannot simply discard, and with opening a path for innovations like tokenized stocks and bonds that would strip friction and cost out of the financial system. All of that, in the board's own assessment, is worth supporting. The board is not calling to reject Clarity, but for tighter language on a few provisions.
Summer Mersinger is CEO of the Blockchain Association and a former commissioner of the U.S. Commodity Futures Trading Commission.
🔗 Source: CoinDesk
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📰 OKX's Rafique doubts Clarity Act will pass, warns optimism is already priced into bitcoin
OKX's Haider Rafique said he is increasingly pessimistic that the Clarity Act will clear Congress this year, arguing political realities rather than policy disagreements are the biggest obstacle to the landmark crypto market structure bill.
Rafique, who is the exchange’s global managing partner for Corporate Affairs and Investor Relations, said Democrats have little incentive to hand Republicans a major legislative victory ahead of this year's midterm elections, particularly given criticism surrounding President Donald Trump's ties to the crypto industry.
🔗 Source: CoinDesk
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OKX's Haider Rafique said he is increasingly pessimistic that the Clarity Act will clear Congress this year, arguing political realities rather than policy disagreements are the biggest obstacle to the landmark crypto market structure bill.
Rafique, who is the exchange’s global managing partner for Corporate Affairs and Investor Relations, said Democrats have little incentive to hand Republicans a major legislative victory ahead of this year's midterm elections, particularly given criticism surrounding President Donald Trump's ties to the crypto industry.
🔗 Source: CoinDesk
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