A New York judge granted a motion filed by US prosecutors in July to stay the CFTC’s civil case against Gannon Ken Van Dyke over making more than $400,000 on prediction markets.
Solana lending giant Jupiter now lets the same dollar earn twice
The extra yield exists only if traders actually swap through those pools, which means Jupiter not only runs Solana’s largest swap router, the software most wallets and apps use to find the best price across venues, but it also owns pools that need that flow to arrive.
The company told CoinDesk the router does not favor its own vaults and sends swaps wherever the price is best.
The risk of pairing assets falls unevenly, however. Jupiter said margin is valued using primary market oracles, or data providers, so a temporary price wobble on an exchange does not trigger anything, and a position liquidates as normal once its loan-to-value ratio passes the threshold.
A genuine depeg is different. On the debt side the borrower is protected — someone borrowing $100 split between USDC and USDT would see the pool rebalance into whichever asset held its value and still owe $100. On the collateral side there is no such protection, and a supplier carries the loss on both assets if either breaks.
That is why the design is confined to correlated pairs, stablecoins against each other and SOL against its staked versions, rather than volatile assets.
“There’s been a wall between the two primary ways people earn APY onchain, lending and LPing,” said Kash Dhanda, Jupiter’s chief operating officer, referring to lending and supplying liquidity to exchanges.
Grayscale quietly drops Cardano, Polkadot and Hedera ETF plans
Crypto asset manager Grayscale Investments has dropped plans for exchange-traded funds tied to Cardano’s ADA, Polkadot’s DOT and Hedera’s HBAR, withdrawing three registration statements from the U.S. Securities and Exchange Commission (SEC) late Friday.
Through three separate requests with the regulator, Grayscale told the SEC it “does not intend to proceed with the planned distribution” of the shares of each trust.
The withdrawals were initiated by Grayscale and weren’t SEC rejections.
Grayscale’s initial Cardano ETF proposal came in February 2025, and its Polkadot filing later that month. Grayscale filed the corresponding ADA and DOT registration statements on Aug. 29, followed by its HBAR registration on Sept. 9.
The proposed funds were designed as passive vehicles that would track the value of their respective tokens after fees and expenses. Grayscale said it had not sold securities or distributed preliminary prospectuses under the registrations.
All three tokens have been losing value over the last few months. Year-to-date, ADA is down more than 41%, while DOT lost 54% of its value and Hedera’s HBAR lost 35%.
Since late February 2025, when the filings came in, performance has been worse. ADA endured a 70% drawdown, while DOT saw an 80% downward move. HBAR also dropped more than 70%.
‘Disappointing’ — Crypto Advocates React to Delay in CLARITY Vote
With the Digital Asset Market Clarity (CLARITY) Act now set for a cloture vote in September, many advocates and industry leaders are frustrated and disappointed at lawmakers’ failure to act before the US Senate broke for a month-long recess.
On Saturday, the Senate Daily Press reported that Majority Leader John Thune filed cloture on a motion for the CLARITY Act to go to the chamber floor for consideration, ending speculation that lawmakers would address the bill more than a year after it was passed by the House of Representatives. The CLARITY vote is now expected when the Senate reconvenes in mid-September, and would require support from 60 senators to pass.
Across the crypto industry, many executives and advocates expressed their disappointment with the Senate’s inaction, as the push to September will happen with just 50 days before the 2026 midterm elections, likely reducing the odds of CLARITY passing.
“[Y]ou can imagine how frustrated I am,” said Senator Cythnia Lummis on Friday after the chamber did not schedule a vote on CLARITY, adding: “I will continue working with my colleagues to get this done — this fight is far from over.”
Source: Cynthia Lummis
Others, including Coinbase CEO Brian Armstrong and the exchange’s chief policy officer Faryar Shirzad, called the Senate’s action “disappointing” but said that September would be the time to “finish the job.” Bitmine Chair Tom Lee noted in the company’s weekly report that “financial markets seem more focused on the recent softer inflation and jobs data” rather than any potential impact of CLARITY not passing.
While there were reports of progress in bipartisan talks on the crypto market structure bill, lawmakers in the Senate didn’t announce solutions in response to pushes from many Democrats for stricter ethics provisions, in particular for rules affecting US President Donald Trump’s crypto investments. Trump continues to face scrutiny from many in Congress over his family’s crypto business, World Liberty Financial, and his own projects, including the memecoin launched days before he took office.
Some banking advocates, in contrast, have been pushing lawmakers to address how CLARITY could still allow companies to pay interest to stablecoin holders in certain situations, challenging the industry. In a Thursday Wall Street Journal op-ed published before Thune’s cloture motion, the publication’s editorial board said that, under CLARITY, small banks would miss out “because they rely on interest payments to attract deposits.“ The editorial continued:
“The Clarity Act can serve a useful purpose with some language changes,“ said the editorial board. “The crypto industry and its friends in Washington portray themselves as defenders of free markets. What they really want is to be quasi-banks without abiding by the same regulations.“
Related: CLARITY Act delay gives Asian financial hubs an opening: First Digital CEO
Prediction market users still anticipating CLARITY by 2027
Despite the setback for the bill in Congress, some event contracts on prediction market platforms are still offering users favorable odds on CLARITY passing by the end of the year.
On Kalshi, an event contract with $1.23 million wagered gave users an 88% chance of the Senate voting on the legislation before Oct. 1, while a similar one on Polymarket gave a 26% chance of the bill being signed into law this year. That contract had total wagers topping $5.79 million. If passed by the Senate, CLARITY would need to return to the House for a vote before potentially going to Trump’s desk.
Magazine: BIP-110 ends with a whimper, CLARITY vote punted: Hodler’s Digest, Aug. 9
Crypto hackers drained $8 million from Coinsbuy using a clever cross-chain trick
Crypto exchange Coinsbuy lost more than $8 million in a coordinated attack across TRON and Ethereum on Aug. 9, according to onchain data reviewed by blockchain security researchers.
The attacker began with a 5 USDT transaction before draining eight TRON wallets of 6.04 million of the dollar-pegged stablecoin in about an hour. On Ethereum, three wallets were simultaneously emptied of 1.89 million USDT and 77 ETH, which was swapped to ETH via 1inch through a wallet created the same day.
Onchain records show the two chains were linked through cross-chain swapper Bridgers, whose Ethereum payout contract sent funds directly into the Ethereum swap wallet, connecting what appeared to be separate operations into a single incident.
The attacker routed some 79% of the stolen funds through instant exchange FixedFloat using roughly 50 single-use addresses. ChangeNOW separately froze a six-figure sum after being contacted by Specter Investigations.
Around 282 ETH, roughly $542,000, across five addresses remains unmoved.
Within 24 hours, Coinsbuy refilled the drained wallets to within 0.05% of their pre-attack balances — behavior researchers say indicates the team does not believe private keys were compromised. The attack vector has not been established.
Bitget Reports Surge in Tokenized Asset Adoption, rToken AUM Tops $100M
Global, August 10, 2026: Bitget, the world’s largest Universal Exchange (UEX), has released its July 2026 Transparency Report, highlighting growing adoption of tokenized financial markets as users increasingly incorporated tokenized equities into broader trading and investment strategies. The report also outlines continued expansion across unified trading infrastructure, AI-powered investing, institutional products and onchain finance as tokenized assets become more deeply integrated into digital markets.
The month saw rToken surpassing US$100 million in assets under management within five weeks of launch, reaching approximately US$114 million by July 6. During the same period, cumulative trading volume reached US$671.37 million, including average daily trading volume of US$19.75 million, with more than 100,000 users trading rTokens. The report also found daily trading-user penetration increasing 18-fold from launch, while 42.87% of first-time buyers increased their positions within seven days, reflecting growing engagement beyond initial purchases.
Industry research published during the month reinforced Bitget’s position across trading infrastructure. CryptoRank found that Bitget recorded the lowest slippage for large tokenized equity trades and the highest balanced displayed liquidity within 50 basis points among the exchanges analysed. The CoinGlass 2026 Derivatives Market Report ranked Bitget second globally for ETH liquidity depth with US$81.37 million in order-book depth and fourth globally for BTC liquidity depth, while TokenInsight reported nearly US$70 billion in TradFi perpetual trading volume on Bitget during Q2 2026.
“Tokenized assets are only as strong as the market behind them. Investors don’t care how many assets an exchange lists if they can’t trade them efficiently.,” said Gracy Chen, CEO of Bitget. “DeFiLlama latest research shows that Bitget delivers the deepest liquidity and execution for tokenized equities among the exchanges evaluated. As adoption grows, that’s what will decide which platforms investors continue to trust.”
Beyond market activity, Bitget continued to expand the infrastructure supporting tokenized finance. During July, the exchange enabled more than 100 tokenized U.S. stocks to be used as collateral within its Unified Trading Account, introduced GetAgent Playbook to extend AI-powered trading into tokenized investing, and released an institutional cross-asset collateral playbook exploring capital efficiency across crypto and tokenized assets.
Bitget Wallet also surpassed 100 million users, expanding stablecoin payment connectivity and tokenized asset access through new integrations including Robinhood Chain and Assetback. Beyond product development, Bitget expanded its Blockchain4Youth partnership with UNICEF’s Game Changers Coalition from eight to eleven countries, extending blockchain, AI and financial literacy education to more young people worldwide.
The July Transparency Report reflects the continued evolution of tokenized markets as users increasingly integrate tokenized assets into active trading, portfolio management and cross-asset investing. The report reflects Bitget’s continued investment in market infrastructure, liquidity and institutional products, as tokenized finance becomes more integrated across retail and institutional markets.
To read the report, visit here.
About Bitget
Bitget is the world’s largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 500+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships such as MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry’s lowest fees and highest liquidity across 150 regions worldwide.
Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.
Source: Bitget
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Australia Suspends Cryptolink Bitcoin ATMs
Australia’s anti-money laundering watchdog has suspended the operation of Cryptolink’s Bitcoin ATMs for three months, citing “ongoing concerns” about its compliance with anti-money laundering obligations.
Australia has the highest number of crypto ATMs of all countries in the Asia-Pacific region. Australian authorities have been cracking down on the criminal use of crypto ATMs since at least late 2024.
AUSTRAC CEO Brendan Thomas said Monday the company’s Virtual Asset Service Provider (VASP) registration has been suspended for three months starting Sunday, meaning its crypto ATMs will not be allowed to operate during that time.
AUSTRAC said Cryptolink failed to meet basic reporting requirements, particularly threshold transaction reports, and did not respond to AUSTRAC’s request for information.
“As part of our continued focus on digital currency as a money laundering risk, AUSTRAC has ongoing concerns about the company’s ability to manage high-risk transactions through its CATMs,” said Thomas.
The action follows an enforceable undertaking that Cryptolink entered into with AUSTRAC in October 2025, after its Cryptocurrency Taskforce identified alleged breaches including late transaction reporting and shortcomings in Cryptolink’s risk assessments. AUSTRAC also issued a $56,340 infringement notice, which Cryptolink paid.
Cryptolink has 96 ATMs in Australia, allowing customers to exchange cash for Bitcoin. Most of its ATMs are located in major cities including Sydney, Melbourne and Brisbane.
Cointelegraph reached out to Cryptolink for comment.
Related: Bitcoin Depot stock crashes 71% premarket after Chapter 11 filing
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Strategy sells 1,690 bitcoin, raises $653 million from MSTR shares
Bitcoin treasury firm Strategy (MSTR) had raised $108.6 million last week through the sale of 1,690 bitcoin and an additional $653.1 million from the sale of 6.59 million shares of common stock, according to a Monday filing.
The company used the bitcoin sale proceeds to repurchase 1,152,020 shares of its variable-rate preferred stock, STRC, for $108.6 million.
The bitcoin sales reduced Strategy’s holdings to 840,447 BTC, acquired for $63.36 billion at an average price of $75,385. The 1,690 bitcoin were sold at an average price of $64,262, net of fees and expenses.
Strategy directed $650 million of the proceeds from its common-stock sales to its USD reserve, lifting the balance to $4.65 billion as of Aug. 9. The remaining $3.1 million was added to the company’s cash balance.
Following the latest transactions, Strategy has $785.2 million remaining under its preferred-stock repurchase program and $1 billion available under its MSTR common-stock repurchase program.
MSTR and STRC are both up 0.5% in Monday pre-market trading, with bitcoin changing hands near $65,000.
UK regulators to prepare tokenized gold framework: Report
The UK’s FCA is reportedly preparing a regulatory framework for tokenized gold and how these products may be used as collateral assets in wholesale markets.
Hedge funds abandon structural shorts to bet on a bitcoin rally
Hedge funds trading bitcoin futures on the Chicago Mercantile Exchange have turned net long, according to Ki Young Ju, CEO of blockchain data analytics firm CryptoQuant.
The rare positioning shift suggests professional traders are increasingly betting on bitcoin prices rising.
“Hedge funds on CME have flipped net long on bitcoin futures, a rare shift after years of structural short positioning driven by the basis trade. You cannot run a traditional carry trade with an aggregate net-long futures position. The suits are now betting on bitcoin’s upside,” Ki Young Ju said.
Leveraged funds have historically remained net short CME Bitcoin futures because of the basis trade. In this market-neutral strategy, traders buy spot bitcoin or exchange-traded funds (ETFs) while simultaneously selling futures. Profit comes from the premium between futures and spot prices narrows, rather than from bitcoin moving higher. This activity has kept hedge funds’ reported futures positioning negative for years.