6 Aug 2025, 04:22

Michael Novogratz Signals Crypto Treasury Craze Likely Past Its Peak

Michael Novogratz says the rush to create companies holding cryptocurrencies on their balance sheets may have already peaked. The Galaxy Digital founder and CEO made the comments Tuesday during the firm’s second-quarter earnings call . “We’ve probably gone through peak treasury company issuance,” Novogratz said. “The question now is which of the existing companies become monsters.” Favorable US Rules Fuel Growth in Crypto Treasury Firms Crypto treasury companies have gained momentum in recent quarters, especially as US regulatory conditions have become more favorable. These firms raise capital in public markets and allocate a portion or all of their reserves into digital assets like Bitcoin, Ethereum or other blockchain-based tokens. A growing list of public companies has adopted this approach. That includes Strategy (formerly MicroStrategy), GameStop, Trump Media & Technology Group, SharpLink Gaming and Bit Digital. Their holdings span Bitcoin, Ethereum, Solana and Litecoin. Ethereum already has two major corporate treasury holders, Tom Lee’s BitMine and Joe Lubin’s SharpLink. Novogratz expects both to keep expanding but warned that new entrants may “have a harder time getting oxygen” as the space becomes more saturated. Novogratz Sees Recurring Revenue From Treasury Partnerships Galaxy Digital manages crypto holdings for more than 20 treasury-focused firms. The company earns fees for overseeing these assets, which now total around $2b on its platform. Novogratz described it as “recurring income that will go on and on.” In May, Galaxy shifted its public listing from the Toronto Stock Exchange to the Nasdaq Global Select Market. It now trades under the ticker symbol GLXY, marking a strategic move to deepen its US footprint. @galaxyhq has explored the tokenization of its $GLXY shares and reported a 43% drop in total assets to $6.3 billion in Q2. #GLXY #Tokenization https://t.co/2go2wQ7tLn — Cryptonews.com (@cryptonews) August 5, 2025 The company also disclosed in a SEC filing that it is exploring tokenization of its publicly traded shares . That initiative forms part of Galaxy’s broader effort to expand into blockchain-based financial infrastructure. Founded in 2018, Galaxy Digital offers a wide range of crypto-focused services, including asset management, trading, investment banking and infrastructure solutions. It targets institutional clients looking to gain exposure to digital assets. Novogratz suggested the market’s attention is turning away from the influx of new treasury players. Instead, focus is shifting to which existing firms will scale meaningfully in the next phase of the cycle. The post Michael Novogratz Signals Crypto Treasury Craze Likely Past Its Peak appeared first on Cryptonews .

6 Aug 2025, 04:12

[LIVE] Crypto News Today: Latest Updates for August 06, 2025 – Crypto Market Sinks as Stagflation Fears Mount, BTC Falls to $113K, XRP Drops 4%

Crypto markets broadly retreated after weaker-than-expected U.S. ISM Non-Manufacturing PMI data heightened stagflation concerns. Bitcoin fell 0.76% to $113,000, while Ethereum dropped 2.43% below $3,600 on early Asian trading hours. XRP is trading at $2.92, 4% down in the past 24 hours. Riskier sectors saw steeper losses, SocialFi plunged 6.04%, NFTs slid 5.56%, and meme coins fell 5.17%. Toncoin, Pudgy Penguins, and Bonk were among the biggest losers. Despite the broader pullback, select assets like Mantle (+8.55%) and Pump.fun (+5.90%) defied the trend, showing sector-specific resilience. But what else is happening in crypto news today? Follow our up-to-date live coverage below. The post [LIVE] Crypto News Today: Latest Updates for August 06, 2025 – Crypto Market Sinks as Stagflation Fears Mount, BTC Falls to $113K, XRP Drops 4% appeared first on Cryptonews .

6 Aug 2025, 04:00

SEC Commissioner Peirce Urges Lawmakers To Protect Crypto Privacy Rights, Open-Source Developers

US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has called for the protection of crypto privacy rights and open-source development ahead of the crucial verdict of the Tornado Cash co-founder’s trial. In Defense Of Crypto Privacy, Developers On Monday, SEC Commissioner Hester Peirce defended the crypto privacy sector, affirming that US authorities should welcome privacy-protecting technologies and safeguard individuals’ right to self-custody their digital assets. At the Science of Blockchain Conference, the crypto-friendly commissioner stated that lawmakers and regulators must take concrete steps to protect individuals’ ability to transact privately and develop privacy software without fear of prosecution. Peirce highlighted that a recent President’s Working Group recommended that American citizens and businesses should be able to own digital assets and use blockchain technologies for lawful purposes. It also suggested that entrepreneurs and software developers should have the liberty and regulatory certainty to “upgrade all sectors of our economy using these technologies.” Although a centralized intermediary or even a DAO deploying a DeFi application could build in restrictions on its use, an immutable, open-source protocol is available for anyone’s use in perpetuity, so requiring that it comply with financial surveillance measures is fruitless. She noted that open-source privacy software developers shouldn’t be responsible for the actions of third parties using their software, citing SEC Chair Paul Atkins’ recent call for a regulatory path for developers to “unleash on-chain software systems that do not require operation by any central intermediary.” In the Monday speech, Peirce also argued that regulators shouldn’t ask businesses to collect and report information on each other, as “doing so would deputize us to surveil our neighbors—a practice antithetical to a free society. Nor should we require an intermediary to step in the middle of peer-to-peer transactions.” Notably, the US Department of the Treasury and the Internal Revenue Service (IRS) formally scrapped a controversial crypto rule in July that would have mandated decentralized exchanges to comply with broker reporting obligations. The rule, originally proposed in November 2021 through the Infrastructure Investment and Jobs Act, aimed to close the “tax gap” by broadening the definition of “brokers” to include crypto exchanges and other intermediaries, while requiring DeFi platforms to report proceeds from digital asset transactions and detail user transaction information, including names and addresses. Tornado Cash Verdict To Set Key Precedent Commissioner Peirce’s remarks come ahead of the verdict of the Tornado Cash co-founder’s trial, which could set a negative precedent for open-source developers. Many industry leaders have argued that trying to hold software developers criminally liable for how third parties use their code will set a terrible precedent and freeze technological innovation in the US. For context, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned crypto mixer Tornado Cash in August 2022 for “failing to impose effective controls” to prevent malicious actors from laundering funds through the protocol, including $455 million by North Korea’s Lazarus Group. Following the sanctions, the protocol’s co-founder, Roman Storm, was detained in Washington in 2023 and charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money-transmitting business. Storm pleaded not guilty to all charges and was freed on a $2 million bond to await his three-week trial, which started on July 14. If convicted, he could face up to 45 years in prison.

6 Aug 2025, 03:35

Which cryptos to invest in as ADA treasury approves $71M development fund

Concurrently, ADA trades above $0.73, gaining over 2.6% within 24 hours. Technical analysis, however, reveals mixed signals. Some patterns suggest potential downward pressure toward $0.58 if current support falters. Founder Charles Hoskinson further clarified treasury boundaries, opposing its use for exchange listings. This strategic funding commitment highlights ADA’s governance maturity, attracting investor scrutiny amidst broader crypto market movements. Consequently, identifying complementary crypto investment opportunities gains importance. Cardano ADA focuses funds Cardano’s treasury allocation marks a pivotal step in its decentralization journey. The community overwhelmingly supported Input Output Global’s (IOG) 12-month development plan. Funding focuses on critical upgrades like Project Acropolis for node flexibility and Hydra for faster, cheaper transactions. These address current network limitations, including 20-second transaction times and average 0.34 ADA fees. IOG faces strict accountability, submitting monthly updates and quarterly engineering timesheets, which are monitored by the member body, Intersect. Hoskinson’s firm stance against using treasury funds for exchange listings reinforces its focus on foundational infrastructure. While technical indicators show short-term caution, these developments strengthen Cardano’s long-term proposition within a competitive blockchain sector featuring Ethereum’s Pectra upgrade and Solana’s block volume increase. Mutuum Finance MUTM presale opportunity Mutuum Finance (MUTM) presents a tangible presale opportunity, attracting significant capital. Phase 6 is currently underway, offering tokens at $0.035. Investment has reached $14,100,000 since the presale began. Over 665 million tokens have already been sold to 14,800 holders. This phase is selling out rapidly, reflecting strong demand. The token price has increased 250% from the opening phase price of $0.01. Phase 7 will commence next, raising the price by 14.3% to $0.04. Mutuum Finance (MUTM) will launch at $0.06, guaranteeing purchasers in phase 6 a minimum 71% return on investment. Furthermore, post-launch projections suggest potential growth reaching $2 for Mutuum Finance (MUTM). Thus, offering substantial upside for presale participants seeking the best crypto to buy now. MUTM security and incentives Robust security underpins Mutuum Finance (MUTM). The project successfully completed its Certik audit, achieving an excellent 95.00 security score. This result confirms a solid security posture for Mutuum Finance (MUTM) smart contracts. Importantly, Certik found no vulnerabilities during the audit, and no security incidents occurred in the past 90 days. Additionally, Mutuum Finance launched a $50,000 USDT Bug Bounty Program in collaboration with CertiK. Rewards are tiered based on vulnerability severity: critical, major, minor, and low. Furthermore, the team initiated a $100,000 MUTM token giveaway . Ten winners will each receive $10,000. Participation requires submitting a valid wallet address, completing all quest steps, and a minimum $50 presale investment. In addition, a new dashboard also tracks the top 50 Mutuum Finance (MUTM) holders via a leaderboard, rewarding them with bonus tokens. Investing in crypto potential Cardano’s strategic treasury deployment strengthens its ecosystem foundation. Mutuum Finance (MUTM), meanwhile, offers a compelling presale entry point with defined upside before its exchange listing. Mutuum Finance (MUTM) phase 6 price delivers immediate value, while its security credentials and incentives enhance trust. For investors evaluating the best crypto to buy now, both projects warrant consideration based on distinct value propositions and current crypto prices. Explore the Mutuum Finance (MUTM) presale today before the phase advance. For more information about Mutuum Finance (MUTM), visit the links below: Website: https://mutuum.com/ Linktree: https://linktr.ee/mutuumfinance The post Which cryptos to invest in as ADA treasury approves $71M development fund appeared first on Invezz

6 Aug 2025, 02:00

Bitcoin Stuck In Macro Purgatory—Top Analyst Says Q4 Or Bust

In his August 5 “Macro Monday” livestream, crypto analyst Josh Olszewicz delivered a review of the market’s late-summer state, arguing that while Bitcoin’s price action has gone quiet, the broader cycle remains intact. “We’re in this pocket of seasonal weakness for August and September that we typically see most years,” he explained, pointing to seasonality charts showing that historically, Bitcoin underperforms in this time window. “It’s a high likelihood that August and September is a giant nothing burger,” he added. Is The Bitcoin Bull Run Over? At day 978 of the current cycle, the question many investors are asking, Olszewicz noted, is simple but existential: is the cycle already over? Will it end this year? Or is there more upside ahead? His answer leaned cautiously optimistic. “I’m in the ‘probably not over yet, could continue’ camp,” he said. “But we will have to see what happens in Q4. Ultimately, that’s going to determine it.” From a technical standpoint, the analyst sees no reason to declare the top is in. “Technicals still look fine. Price still looks okay. We had a pullback. All that is fine,” he said, emphasizing that Bitcoin has not yet exhibited the typical parabolic advance associated with major tops. Nor have other macro or on-chain metrics shown signs of terminal overheating. “We don’t have other metrics screaming from the rooftop saying it’s time yet.” Related Reading: Top Analyst Says Bitcoin Is Trapped: ‘Nothing To Do Until October’ However, the short-term setup is underwhelming. After a cup-and-handle breakout that briefly pushed price toward the $122,000–$123,000 region, momentum faded. Olszewicz doubts such levels can be reclaimed soon: “In the next two weeks we’ll know if we can start to creep back towards $120,000, which is asking a lot admittedly for August.” The wildcard, he said, is ETF flows. “Do we see ETF flows for any reason? Then do we see treasury companies continuing to buy? Those are the marginal buyers right now.” He suggested that ETF buyers could return due to a combination of underweight positioning, opportunistic dip-buying, and monthly rebalancing dynamics. Still, he remains neutral overall. “Just a general softening of any bullishness we may have had,” he said. “Now it’d be a different story if this is October and we’re seeing this. That’s not normal.” A further reason for caution is the collapse in futures basis across major assets. “Premium is all the way down to under 7% on BTC. It’s under 8% on ETH. And I think SOL is a little more illiquid, but even SOL is way down—15% from 35%,” he noted. That contraction in futures premiums, typically a sign of speculative demand drying up, reflects a broader risk-off mood. “Not a lot of bullish sentiment, not a lot of craziness,” Olszewicz observed. Related Reading: Is Bitcoin Losing Steam? Analysts Warn of Fragile Market Support On-chain risk metrics confirm the trend. “There’s a decline here in risk appetite,” he said, referring to metrics like unrealized profit versus MVRV. He added that if Bitcoin were to enter a parabolic advance, “you will see this metric shoot up… But what’s it going to take?” Q4 Or Bust He floated a few possibilities: rate cuts, weakening Fed independence, or perhaps just seasonal strength and macro chaos in Q4. But for now, he advised traders to “take it easy on the 50X leverage,” especially those who’ve already made significant gains this cycle. “Do I need to put risk back on? Do I need to be as risky as I was earlier?” he asked rhetorically. “Or does it make more sense to be less risky here?” From a macroeconomic perspective, the picture is mixed. Inflation data from Trueflation remains low—currently at 1.65%—but Olszewicz warned that new post–August 1 tariffs may raise prices in the months ahead. “We are adding inflationary pressures with tariffs, no doubt about it,” he said, though the effect will take time to appear in the data. Meanwhile, core PCE is headed in the wrong direction, and the Atlanta Fed’s GDPNow model is printing 2.1% growth for Q3—hardly recessionary, but not robust either. Labor market data continues to cloud the outlook. “If we account for a non-collapsing labor force participation, we could be as high as 4.9% on the actual unemployment rate,” Olszewicz warned. “And we’re continuing to see a degradation in job availability for manufacturing,” particularly in “Heartland Rust Belt types of jobs.” Liquidity dynamics are also in flux. He drew attention to the draining of the Fed’s reverse repo facility—once a $2 trillion reservoir of sidelined capital—which has supported risk assets through 2023 and 2024. “As this gets drained closer to completion, there’s a potential likelihood for liquidity hiccups and a liquidity intervention by the Fed,” he said. Importantly, this has kept overall US liquidity flat, offsetting quantitative tightening. “Despite QT, the drain of the reverse repo has offset QT, and US liquidity by this metric has been basically flat since 2022.” What changed the game, Olszewicz said, was not liquidity per se, but the launch of spot Bitcoin ETFs. “That has really been, in my opinion, a big difference maker,” he explained. “We got ETF approvals here, ETF started trading here, and the rest is history as far as flows are concerned.” In conclusion, Olszewicz emphasized that while the broader risk appetite has declined and price action remains dull, there is no evidence yet that the Bitcoin cycle has topped. “The cycle’s probably not over,” he said. “It’s just sleeping—and Q4 will ultimately determine whether it wakes up.” At press time, BTC traded at $113,041. Featured image created with DALL.E, chart from TradingView.com

6 Aug 2025, 01:18

Asia Morning Briefing: Architect Bets Credit Will Outshine Crypto Equities as It Builds a Web3 Moody’s

Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. The maturing digital assets market that has sophisticated market making, capital markets, and decentralized finance, is still lacking one key market infrastructure to compete with traditional finance: an institutional-grade credit agency. Architect aims to change this by launching crypto's first institutional-grade credit ratings service, similar to traditional finance's Moody's – because most TradFi ratings agencies just won't touch crypto. Sure, Moody's has dipped its toes into digital assets , but a full-blown credit agency that operates only in crypto is still missing. This is partly because crypto does not have a trusted intermediary to objectively assess creditworthiness, according to Ruben Amenyogbo, Architect's Managing Partner. The industry's anonymous actors, unconventional data, and opaque risk profiles make traditional underwriters nervous, leaving potential lenders reluctant to provide debt financing, Amenyogbo said. Then there is the ongoing surge of publicly traded companies, including miners and crypto treasury firms. They are all attempting to provide equity investors with exposure to crypto via stocks. But that market is now saturated and overvalued. “Crypto equity is extremely overvalued. Way too much money has been raised chasing equity opportunities in crypto,” said Amenyogbo. This combination of a lack of credit agencies and an exhausted equity market creates the perfect storm for a new opportunity in Web3. “There's a huge opportunity in credit, but no one's provided the missing market structure needed to assess risk properly," he said. This is where Architect comes in with plans to utilize its proprietary blockchain-based data to systematically evaluate credit risk and unlock new pools of institutional capital. Amenyogbo believes that the crypto market has now matured enough to support institutional-grade credit analysis. “With equity, you look forward, you assess future growth,” Amenyogbo said. “With credit, you must look backwards and ask, ‘Have these people reliably performed?’ Crypto was too young and unproven for that until recently, but now there’s enough history for meaningful credit analysis.” So who benefits from such service? Bitcoin miners and Decentralized Physical Infrastructure Networks (DePIN) primarily, according to the Architect. In theory, with access to fiat credit, miners could reduce forced selling, allowing them to stake more assets, generate greater on-chain activity, and shift from reactive outflows to productive economic contribution, a “double knock-on effect” that turns liquidity pressure into real value creation. Meanwhile, Architect sees Decentralized Physical Infrastructure Networks (DePIN) as a particularly attractive and underfunded niche for credit, with Amenyogbo explaining that DePIN provides real economic outputs rather than merely betting on digital asset price appreciation. "If I want to speculate on bitcoin, I would buy bitcoin. But as a credit lender, I can underwrite a bitcoin miner and make a bet on that mining operation and its cashflows outcompeting the market,” he said. In the end, Architect’s ultimate ambition isn’t just to lend, it’s to rebuild crypto’s capital stack from the ground up. By positioning itself as the first credible risk assessor for decentralized infrastructure and applying TradFi-grade underwriting standards, the firm hopes to unlock a new wave of institutional capital. “Raising a $100 million fund is cool, but it’s just a drop in the ocean,” Amenyogbo said. “What we’re really doing is laying the groundwork for crypto credit to scale the way traditional debt does, bundled, rated, insured, and syndicated into the largest pools of capital in the world.” Market Movers BTC: BTC is trading above $114K, with BTC dominance slipping to under 60%. "With funding and positioning in BTC beginning to look extended, traders may increasingly seek upside in high-beta names," market maker Enflux told CoinDesk in a note. ETH: ETH is trading at $3500, down 2.8% as ETF outflows ramp up. Gold: Gold prices dipped during the U.S. trading day, as a stronger U.S. dollar and falling oil prices weighed on sentiment, while silver saw modest gains and mixed global economic signals, including robust Chinese services data and growing Fed rate cut odds, added complexity to market direction. Nikkei 225: Asia-Pacific markets traded mixed Tuesday after Wall Street losses, as investors digested weak U.S. economic data and new technology tariff remarks from President Trump, with Japan’s Nikkei 225 slipping 0.12%. S&P 500: The S&P 500 fell 0.49% Tuesday as weak economic data and fresh Trump tariff remarks fueled concern, though analysts expect the bull market to continue despite near-term volatility. Elsewhere in Crypto SEC Says Liquid Staking Doesn't Run Afoul of Securities Laws (CoinDesk) Why Ethereum Retail Investors Remain 'Sidelined'—Even as Institutions Buy Billions (Decrypt) Solana Mobile begins shipping second-gen Seeker smartphones to customers in over 50 countries (The Block)