Highlight Clip Jimmy Song: Altcoins Are Scams; Bitcoin Is Better Money, Not Better Technology
Jimmy Song: Altcoins Are Scams; Bitcoin Is Better Money, Not Better Technology
In June 2026, well-known Bitcoin educator Jimmy Song said in an interview with Cointelegraph during BTC Prague in Prague that altcoins, even when marketed as technically superior, still struggle to replace Bitcoin because they lack Bitcoin’s network effect and long-term security hardening.
In his view, many people simply do not care how often those assets get hacked, and the bigger misconception is that Bitcoin is still seen as a technology rather than money. — link
Jimmy Song: Altcoins Are Scams; Bitcoin Is Better Money, Not Better Technology
In June 2026, well-known Bitcoin educator Jimmy Song said in an interview with Cointelegraph during BTC Prague in Prague that altcoins, even when marketed as technically superior, still struggle to replace Bitcoin because they lack Bitcoin’s network effect and long-term security hardening.
In his view, many people simply do not care how often those assets get hacked, and the bigger misconception is that Bitcoin is still seen as a technology rather than money. — link
BREAKING: Telegram Removed From Apple App Store Across 175 Tested Storefronts
Telegram has been removed from the Apple App Store. Independent monitoring data as of Aug. 4 indicates the app is unavailable across all 175 tested App Store storefronts. Existing installations continue to function for now, while Apple and Telegram have not yet provided an official explanation for the removal.
Telegram said its app has been restored to Apple’s App Store and should soon become available again to all users. AppleCensorship data showed that Telegram had returned to 172 of the regions it monitors.
Apple said it temporarily removed Telegram from the App Store after a review found child sexual abuse material posted by a user in violation of its platform rules. Telegram deleted the content and banned the account, prompting Apple to restore the app later the same day; existing installations were unaffected during the suspension. — link
Telegram has been removed from the Apple App Store. Independent monitoring data as of Aug. 4 indicates the app is unavailable across all 175 tested App Store storefronts. Existing installations continue to function for now, while Apple and Telegram have not yet provided an official explanation for the removal.
Telegram said its app has been restored to Apple’s App Store and should soon become available again to all users. AppleCensorship data showed that Telegram had returned to 172 of the regions it monitors.
Apple said it temporarily removed Telegram from the App Store after a review found child sexual abuse material posted by a user in violation of its platform rules. Telegram deleted the content and banned the account, prompting Apple to restore the app later the same day; existing installations were unaffected during the suspension. — link
Coldcard Flaw Cost AI Just $2 to Find, Dragonfly’s Qureshi Says
Dragonfly Managing Partner Haseeb Qureshi said the Coldcard wallet incident shows AI is reshaping the economics of crypto security, with product safety increasingly determined by how much companies spend on AI-powered testing. He introduced a “Cost of Discovery” metric to measure how cheaply a frontier model can reproduce a vulnerability, estimating the Coldcard flaw’s cost at roughly USD 2. Qureshi noted that a reported eight-minute Claude Code discovery may have been influenced by web search, but said a separate offline GLM test reproduced the issue in about 20 minutes. — link
Dragonfly Managing Partner Haseeb Qureshi said the Coldcard wallet incident shows AI is reshaping the economics of crypto security, with product safety increasingly determined by how much companies spend on AI-powered testing. He introduced a “Cost of Discovery” metric to measure how cheaply a frontier model can reproduce a vulnerability, estimating the Coldcard flaw’s cost at roughly USD 2. Qureshi noted that a reported eight-minute Claude Code discovery may have been influenced by web search, but said a separate offline GLM test reproduced the issue in about 20 minutes. — link
Upbit to List HOME; Bithumb to Add META2 and USDG
South Korea's largest crypto exchange Upbit will list Defi App (HOME) on KRW and USDT markets. Defi App is a cross-chain DeFi platform supporting EVM and Solana ecosystems, offering token trading, lending and yield management, with HOME serving as its governance and utility token.
Meanwhile, South Korea's second-largest crypto exchange Bithumb will list META2 and USDG on its KRW market. META2 represents MetaDAO, a Solana-based governance protocol that introduces prediction markets into DAO decision-making through the Futarchy model. USDG (Global Dollar) is a USD-pegged stablecoin issued by Paxos and backed 1:1 by the U.S. dollar. — link
South Korea's largest crypto exchange Upbit will list Defi App (HOME) on KRW and USDT markets. Defi App is a cross-chain DeFi platform supporting EVM and Solana ecosystems, offering token trading, lending and yield management, with HOME serving as its governance and utility token.
Meanwhile, South Korea's second-largest crypto exchange Bithumb will list META2 and USDG on its KRW market. META2 represents MetaDAO, a Solana-based governance protocol that introduces prediction markets into DAO decision-making through the Futarchy model. USDG (Global Dollar) is a USD-pegged stablecoin issued by Paxos and backed 1:1 by the U.S. dollar. — link
Former FBI Supervisor Charged Over Nearly $1 Million Crypto Theft
Former FBI supervisory agent Patrick Steven Yaroch has been charged after allegedly using internal bureau systems to obtain access credentials for cryptocurrency wallets linked to an adversarial country and transferring funds to wallets he controlled. According to the criminal complaint, Yaroch admitted making about 10 unauthorized transfers beginning in late 2024 and estimated that he took less than USD 1 million, later placing some of the assets in Suilend to earn yield. — link
Former FBI supervisory agent Patrick Steven Yaroch has been charged after allegedly using internal bureau systems to obtain access credentials for cryptocurrency wallets linked to an adversarial country and transferring funds to wallets he controlled. According to the criminal complaint, Yaroch admitted making about 10 unauthorized transfers beginning in late 2024 and estimated that he took less than USD 1 million, later placing some of the assets in Suilend to earn yield. — link
Coinbase to Shift Institutional Clients to Deribit, World’s Largest Crypto Options Exchange
Coinbase plans to migrate institutional clients’ International Exchange accounts, balances and positions to Deribit on September 9, with trading expected to pause for about 30 minutes. All open orders will be canceled, while positions will be settled at mark price and recreated on Deribit at the same reference price. Existing API keys and margin loans will not transfer. Clients that decline the migration must close their positions and accounts by August 28. — link
Coinbase plans to migrate institutional clients’ International Exchange accounts, balances and positions to Deribit on September 9, with trading expected to pause for about 30 minutes. All open orders will be canceled, while positions will be settled at mark price and recreated on Deribit at the same reference price. Existing API keys and margin loans will not transfer. Clients that decline the migration must close their positions and accounts by August 28. — link
Italy’s Largest Bank Intesa Sanpaolo Cuts IBIT Stake 94%, Triples Staked Ethereum ETF Holdings
Italy’s largest banking group, Intesa Sanpaolo, reported in its latest Form 13F that, as of June 30, its common-share position in BlackRock’s iShares Bitcoin Trust (IBIT) fell 93.7% from the previous quarter to 40,723 shares. The underlying-share amount tied to its reported IBIT call position dropped 99.3% to 18,000 shares, while a new put position equivalent to 500,000 IBIT shares appeared. Meanwhile, its iShares Staked Ethereum Trust ETF holding rose from 116,200 to 349,600 shares, while its Bitwise Solana Staking ETF position fell from 2,817 shares to seven. The filing does not reveal the bank’s full options structure or net exposure. — link
Italy’s largest banking group, Intesa Sanpaolo, reported in its latest Form 13F that, as of June 30, its common-share position in BlackRock’s iShares Bitcoin Trust (IBIT) fell 93.7% from the previous quarter to 40,723 shares. The underlying-share amount tied to its reported IBIT call position dropped 99.3% to 18,000 shares, while a new put position equivalent to 500,000 IBIT shares appeared. Meanwhile, its iShares Staked Ethereum Trust ETF holding rose from 116,200 to 349,600 shares, while its Bitwise Solana Staking ETF position fell from 2,817 shares to seven. The filing does not reveal the bank’s full options structure or net exposure. — link
Hyperliquid’s July Perpetual Trading Volume Hits $218B, Exceeding the Other Seven Leading DEXs Combined
CryptoRank data shows Hyperliquid generated $218 billion in July trading volume, exceeding the combined $189 billion recorded by the other seven leading perpetual DEXs. Aster, Lighter and GRVT posted volumes of approximately $43.6 billion, $36.4 billion and $34.4 billion, respectively. Combined volume across the top eight platforms fell by about $85 billion, or 17%, month over month, while trading activity remained heavily concentrated on Hyperliquid. — link
CryptoRank data shows Hyperliquid generated $218 billion in July trading volume, exceeding the combined $189 billion recorded by the other seven leading perpetual DEXs. Aster, Lighter and GRVT posted volumes of approximately $43.6 billion, $36.4 billion and $34.4 billion, respectively. Combined volume across the top eight platforms fell by about $85 billion, or 17%, month over month, while trading activity remained heavily concentrated on Hyperliquid. — link
Deribit Retains Crypto Options Lead as Bybit Takes Top Spot in ETH
The five major crypto platforms recorded about USD 864.6 billion in combined BTC and ETH options volume in the first half of 2026, according to CoinGlass. Deribit remained the market leader with USD 425.9 billion in volume and a 49.3% share, followed by Bybit at 22.3%, Binance at 13.4% and OKX at 13.3%. The four platforms controlled more than 98% of the market. Deribit’s monthly share declined from 56.3% in January to 41.8% in June, while Bybit led ETH options with about 38%, ahead of Deribit’s 29%. — link
The five major crypto platforms recorded about USD 864.6 billion in combined BTC and ETH options volume in the first half of 2026, according to CoinGlass. Deribit remained the market leader with USD 425.9 billion in volume and a 49.3% share, followed by Bybit at 22.3%, Binance at 13.4% and OKX at 13.3%. The four platforms controlled more than 98% of the market. Deribit’s monthly share declined from 56.3% in January to 41.8% in June, while Bybit led ETH options with about 38%, ahead of Deribit’s 29%. — link
Coinbase Bitcoin Premium Index Sets Longest-Ever Negative Streak at 78 Days
CoinGlass data shows the Coinbase Bitcoin Premium Index has remained negative for 78 consecutive days, the longest such streak on record, with its latest reading at -0.1145%. The index measures the BTC price gap between Coinbase and other major exchanges and is commonly used as a gauge of U.S. market demand. A persistently negative reading means Bitcoin is trading at a relative discount on Coinbase, potentially indicating weaker U.S. investor demand or comparatively stronger selling pressure. — link
CoinGlass data shows the Coinbase Bitcoin Premium Index has remained negative for 78 consecutive days, the longest such streak on record, with its latest reading at -0.1145%. The index measures the BTC price gap between Coinbase and other major exchanges and is commonly used as a gauge of U.S. market demand. A persistently negative reading means Bitcoin is trading at a relative discount on Coinbase, potentially indicating weaker U.S. investor demand or comparatively stronger selling pressure. — link
Bitdeer Shares Surge 23% on $4.7 Billion AI Data Center Deal
Bitdeer, founded by Bitmain co-founder Jihan Wu, announced that its subsidiary Tydal Data Center AS has signed a 16-year colocation and services agreement with Volta Tydal AS. The project will provide 121 MW of IT capacity, or approximately 133 MW of total power, for AI computing infrastructure at the Tydal AI/HPC campus in Norway.
The agreement is expected to generate approximately $4.7 billion in contracted revenue over its initial term, with an eight-year renewal option that could bring the total contract value to around $8 billion. Bitdeer shares surged 23% following the announcement.
Bloomberg reports that Anthropic is the unnamed AI lab behind the project. The Claude developer has reportedly signed a six-year, roughly $10 billion compute deal with Nvidia-backed Volta Infra Holdings, while Bitdeer’s $4.7 billion agreement covers the underlying data center colocation and services. The facility will use Dell hardware and Nvidia Vera Rubin chips, though the companies have not publicly confirmed Anthropic as the end customer. — link
Bitdeer, founded by Bitmain co-founder Jihan Wu, announced that its subsidiary Tydal Data Center AS has signed a 16-year colocation and services agreement with Volta Tydal AS. The project will provide 121 MW of IT capacity, or approximately 133 MW of total power, for AI computing infrastructure at the Tydal AI/HPC campus in Norway.
The agreement is expected to generate approximately $4.7 billion in contracted revenue over its initial term, with an eight-year renewal option that could bring the total contract value to around $8 billion. Bitdeer shares surged 23% following the announcement.
Bloomberg reports that Anthropic is the unnamed AI lab behind the project. The Claude developer has reportedly signed a six-year, roughly $10 billion compute deal with Nvidia-backed Volta Infra Holdings, while Bitdeer’s $4.7 billion agreement covers the underlying data center colocation and services. The facility will use Dell hardware and Nvidia Vera Rubin chips, though the companies have not publicly confirmed Anthropic as the end customer. — link
Polymarket Reportedly Seeks $1 Billion at Valuation Above $20 Billion
Bloomberg reported, citing people familiar with the matter, that prediction market platform Polymarket is in preliminary talks with potential investors to raise about $1 billion at a valuation exceeding $20 billion. If completed, the deal would more than double its $9 billion valuation from October 2025. Polymarket reportedly completed roughly $1 billion in financing at a $15 billion valuation in April, adding investors including D.E. Shaw and G Squared. Since then, it has launched its U.S. platform and increased annualized revenue to more than $1.2 billion. Rival Kalshi was valued at $22 billion following a May funding round, while its July trading volume was reportedly about three times Polymarket’s. A Polymarket spokesperson declined to comment. — link
Bloomberg reported, citing people familiar with the matter, that prediction market platform Polymarket is in preliminary talks with potential investors to raise about $1 billion at a valuation exceeding $20 billion. If completed, the deal would more than double its $9 billion valuation from October 2025. Polymarket reportedly completed roughly $1 billion in financing at a $15 billion valuation in April, adding investors including D.E. Shaw and G Squared. Since then, it has launched its U.S. platform and increased annualized revenue to more than $1.2 billion. Rival Kalshi was valued at $22 billion following a May funding round, while its July trading volume was reportedly about three times Polymarket’s. A Polymarket spokesperson declined to comment. — link
Coldcard Incident Triggers Large-Scale Bitcoin Migration, Small Transfers Hit Highest Level Since FTX Collapse
According to CryptoQuant, Bitcoin holders moved funds on a large scale following the Coldcard security incident. On July 31, daily active Bitcoin addresses surged from roughly 645,000 to nearly 1 million, while transfers of less than 1 BTC reached about 39,600 BTC, the highest level since the collapse of FTX. Exchange deposits from small holders rose to their highest level since early February, alongside sharp increases in long-term holder spending and pending mempool transactions. CryptoQuant said the activity reflected security-driven asset repositioning, but cautioned that transfers to exchanges do not necessarily indicate selling. — link
According to CryptoQuant, Bitcoin holders moved funds on a large scale following the Coldcard security incident. On July 31, daily active Bitcoin addresses surged from roughly 645,000 to nearly 1 million, while transfers of less than 1 BTC reached about 39,600 BTC, the highest level since the collapse of FTX. Exchange deposits from small holders rose to their highest level since early February, alongside sharp increases in long-term holder spending and pending mempool transactions. CryptoQuant said the activity reflected security-driven asset repositioning, but cautioned that transfers to exchanges do not necessarily indicate selling. — link
SpaceX Q2 Revenue Jumps 92% as Digital Asset Value Falls to $1.10 Billion
SpaceX reported second-quarter 2026 revenue of $7.81 billion, up 92% year over year, while its net loss narrowed to $541 million from $1.01 billion. Adjusted EBITDA rose 191% to $3.54 billion. Connectivity revenue reached $4.29 billion as Starlink subscribers doubled to 12 million. AI revenue surged 247% to $2.56 billion but generated an operating loss of $1.26 billion. Capital expenditure totaled $18.37 billion, of which $15.83 billion was attributable to the AI segment.
At quarter-end, SpaceX’s digital assets had a carrying value of $1.10 billion, down approximately 33% from $1.64 billion at the end of 2025. The company had previously disclosed holding 18,712 BTC in its IPO filing. SpaceX also held approximately $100 billion in cash, cash equivalents and marketable securities, while its contract backlog stood at $47.5 billion. — link
SpaceX reported second-quarter 2026 revenue of $7.81 billion, up 92% year over year, while its net loss narrowed to $541 million from $1.01 billion. Adjusted EBITDA rose 191% to $3.54 billion. Connectivity revenue reached $4.29 billion as Starlink subscribers doubled to 12 million. AI revenue surged 247% to $2.56 billion but generated an operating loss of $1.26 billion. Capital expenditure totaled $18.37 billion, of which $15.83 billion was attributable to the AI segment.
At quarter-end, SpaceX’s digital assets had a carrying value of $1.10 billion, down approximately 33% from $1.64 billion at the end of 2025. The company had previously disclosed holding 18,712 BTC in its IPO filing. SpaceX also held approximately $100 billion in cash, cash equivalents and marketable securities, while its contract backlog stood at $47.5 billion. — link
Highlight Clip Early Bitcoin Core Developer: 99% of Digital Assets Will Eventually Go to Zero
Early Bitcoin Core Developer: 99% of Digital Assets Will Eventually Go to Zero
On July 28, 2026, early Bitcoin core developer Jeff Garzik stated on the Bitcoin Treasuries podcast that 99% of digital assets will inevitably go to zero. He believes that with zero creation costs enabling permissionless innovation, networks like Solana generate massive amounts of new tokens daily.
Under the law of supply and demand, this near-infinite supply naturally leads to most tokens losing their value. Garzik stated that this zero-cost free competition is positive for the overall industry, as it provides an optimal testing ground for economic experiments, where the high-quality projects that survive the brutal elimination will ultimately benefit everyone. — link
Early Bitcoin Core Developer: 99% of Digital Assets Will Eventually Go to Zero
On July 28, 2026, early Bitcoin core developer Jeff Garzik stated on the Bitcoin Treasuries podcast that 99% of digital assets will inevitably go to zero. He believes that with zero creation costs enabling permissionless innovation, networks like Solana generate massive amounts of new tokens daily.
Under the law of supply and demand, this near-infinite supply naturally leads to most tokens losing their value. Garzik stated that this zero-cost free competition is positive for the overall industry, as it provides an optimal testing ground for economic experiments, where the high-quality projects that survive the brutal elimination will ultimately benefit everyone. — link
Ethereum Developers Propose EIP to Burn Validator Rewards as Staking Nears 50%; Aave Founder Warns It Could Hurt ETH Demand
Several Ethereum developers have proposed a draft EIP, “Tapered Issuance Burn,” that would gradually burn validator issuance as staking increases, fully offsetting issuance once staking reaches about 50% of ETH supply. The draft includes an 18-month transition period and has not yet received an official EIP number.
Aave founder Stani Kulechov said the proposal would make ETH staking yields economically unattractive, hurt institutional adoption and DeFi yield use cases, and drive capital to competing yield-bearing assets and blockchain networks. — link
Several Ethereum developers have proposed a draft EIP, “Tapered Issuance Burn,” that would gradually burn validator issuance as staking increases, fully offsetting issuance once staking reaches about 50% of ETH supply. The draft includes an 18-month transition period and has not yet received an official EIP number.
Aave founder Stani Kulechov said the proposal would make ETH staking yields economically unattractive, hurt institutional adoption and DeFi yield use cases, and drive capital to competing yield-bearing assets and blockchain networks. — link
Arthur Hayes: AI Bubble May Resemble 2008 Credit Crisis, Bitcoin Could Benefit From Monetary Easing
BitMEX co-founder Arthur Hayes published a new essay, Situationship, arguing that the AI investment boom resembles a real estate buildout rather than a traditional technology cycle. He said excessive investment in data centers and related infrastructure could make an eventual AI bubble burst more similar to the 2008 credit crisis than the 2000 dot-com crash. Hayes believes any resulting monetary easing and liquidity expansion by central banks would ultimately fuel a renewed bull market for Bitcoin and the broader crypto market. — link
BitMEX co-founder Arthur Hayes published a new essay, Situationship, arguing that the AI investment boom resembles a real estate buildout rather than a traditional technology cycle. He said excessive investment in data centers and related infrastructure could make an eventual AI bubble burst more similar to the 2008 credit crisis than the 2000 dot-com crash. Hayes believes any resulting monetary easing and liquidity expansion by central banks would ultimately fuel a renewed bull market for Bitcoin and the broader crypto market. — link
Suspected Strategy-Linked Wallet Transfers Another 1,030 BTC Worth $66.14 Million
According to Lookonchain, a wallet suspected to be associated with Michael Saylor’s Strategy transferred another 1,030 BTC worth approximately $66.14 million two hours ago. Earlier last week, Strategy sold 1,638 BTC for about $102.4 million. The company still holds 842,138 BTC, with a total value of approximately $52.65 billion.
Bitcoin miner MARA, which holds 36,303 BTC (approximately $2.34 billion), transferred 6,000 BTC worth around $384.6 million to TwoPrime over the past five hours. Analysts noted that the transfer does not necessarily indicate a sale and may be related to asset management purposes. — link
According to Lookonchain, a wallet suspected to be associated with Michael Saylor’s Strategy transferred another 1,030 BTC worth approximately $66.14 million two hours ago. Earlier last week, Strategy sold 1,638 BTC for about $102.4 million. The company still holds 842,138 BTC, with a total value of approximately $52.65 billion.
Bitcoin miner MARA, which holds 36,303 BTC (approximately $2.34 billion), transferred 6,000 BTC worth around $384.6 million to TwoPrime over the past five hours. Analysts noted that the transfer does not necessarily indicate a sale and may be related to asset management purposes. — link
a16z-Backed Web3 Game Developer Proof Of Play to Shut Down Operations
Proof Of Play, a Web3 game developer backed by a16z, announced it will cease operations, stating that it failed to build a scalable and sustainable product and business model to validate its vision. The company plans to open-source as much code and artwork as possible. Founder Pirates NFT and Pirate Nation assets, including artwork, IP, and logos, have been released under a CC0 license. The Pirate Nation Foundation will remain independent and continue supporting the PIRATE token, while another game, Shiba Story Go!, has been acquired by a third party and will continue operating independently. — link
Proof Of Play, a Web3 game developer backed by a16z, announced it will cease operations, stating that it failed to build a scalable and sustainable product and business model to validate its vision. The company plans to open-source as much code and artwork as possible. Founder Pirates NFT and Pirate Nation assets, including artwork, IP, and logos, have been released under a CC0 license. The Pirate Nation Foundation will remain independent and continue supporting the PIRATE token, while another game, Shiba Story Go!, has been acquired by a third party and will continue operating independently. — link
69% of Russians See No Use Cases for Crypto Even After Legalization
According to TASS, a survey by Rambler&Co found that around 69% of Russians said they could not identify any practical use cases for cryptocurrencies even if they were legalized. The survey showed that 52% of respondents found it difficult to understand how legalization would affect their lives because they do not use crypto, while only 6% said they were familiar with the sector and had practical experience. In addition, 54% of respondents admitted they know little to nothing about how cryptocurrencies work, indicating relatively low overall awareness and adoption willingness. — link
According to TASS, a survey by Rambler&Co found that around 69% of Russians said they could not identify any practical use cases for cryptocurrencies even if they were legalized. The survey showed that 52% of respondents found it difficult to understand how legalization would affect their lives because they do not use crypto, while only 6% said they were familiar with the sector and had practical experience. In addition, 54% of respondents admitted they know little to nothing about how cryptocurrencies work, indicating relatively low overall awareness and adoption willingness. — link
Spot Bitcoin ETFs Recorded $211 Million in Net Inflows on August 4
According to SoSoValue, spot Bitcoin ETFs recorded $211 million in net inflows on August 4 (ET), led by BlackRock’s IBIT with $170 million in net inflows. Spot Ethereum ETFs saw $53.7474 million in net inflows, with BlackRock’s ETHA leading with $42.4582 million in net inflows. — link
According to SoSoValue, spot Bitcoin ETFs recorded $211 million in net inflows on August 4 (ET), led by BlackRock’s IBIT with $170 million in net inflows. Spot Ethereum ETFs saw $53.7474 million in net inflows, with BlackRock’s ETHA leading with $42.4582 million in net inflows. — link