Crypto

At the top end of the $28-$31 price range, the company would have a valuation of about $4.2 billion.

Bitcoin futures began August with a significant recalibration in positioning. In the first four days of the month, aggregate futures open interest (OI) fell from $83.63 billion to $79 .85 billion, a $3.78 billion drop in notional terms. This followed Bitcoin’s price dropping around 2.8%, indicating that most of the decline stemmed from position closures […] The post Bitcoin futures shed $3B in leverage as traders trims risk appeared first on CryptoSlate.

The crypto market is rebounding with Ethereum, XRP, and Ethena leading the way. However, most tokens remain in the red when compared to last week.

Nexus Mutual has paid about $250,000 in claims to users hit by July’s $3.5 million Arcadia Finance hack on Base. Update (Aug. 4 at 2:20 pm UTC): This article has been updated to add commentary by Phil Johnston, Nexus Mutual’s director of marketing. Crypto-native insurance alternative Nexus Mutual reimbursed customers who had lost money in a recent Arcadia Finance hack. According to a Monday announcement shared with Cointelegraph, Nexus Mutual reimbursed about $250,000 to users who lost funds in the Arcadia Finance hack. The protocol was hacked in mid-July for $3.5 million in USDC (USDC) and USDS on the Base blockchain, with stolen assets swapped to Wrapped Ether (WETH). Read more

Stellar (XLM) was also a top performer, gaining 3.7% from Friday.

USDe’s market cap surged from approximately $5.33 billion on July 17 to over $9.3 billion by August 4, marking a nearly 75% increase and propelling it into the number three slot among all stablecoins, behind only USDT and USDC. The sudden rise has positioned Ethena’s synthetic dollar among top-tier stablecoins while also raising questions about […] The post Ethena’s $9.5B USDe could now challenge USDC’s number 2 spot by 2027 appeared first on CryptoSlate.

Bitcoin’s multi-month rally appears to have hit a significant wall, with a confluence of bearish signals emerging across both weekly and daily charts.

French political party Rassemblement National is reportedly preparing a draft law to mine Bitcoin with surplus nuclear energy. Rassemblement National (RN), a French political party, is reportedly pushing to mine Bitcoin using surplus energy from nuclear power plants, signaling a shift from its leader’s previous anti-crypto stance.  French newspaper outlet Le Monde reported last week that RN leader and three-time presidential candidate Marine Le Pen now backs using idle nuclear energy for Bitcoin (BTC) mining. She reportedly promoted the plan during a visit to the Flamanville nuclear plant on March 11. The party said the initiative will turn wasted electricity into “secure and extremely profitable” digital assets.  According to Le Monde, RN lawmaker Aurélien Lopez-Liguori has spearheaded the proposal in the French Parliament, drafting a bill to install mining infrastructure at sites operated by the energy giant Électricité de France (EDF).  Read more

Ondo Finance’s July moves may fuel an ONDO rally this month, says a popular crypto analyst citing acquisitions, partnerships, and regulatory momentum.

Jürgen Blumberg, who spent over two decades at Goldman Sachs, Invesco and BlackRock heading ETF businesses, will focus on bridging DeFi and traditional finance.

Hyperliquid’s rapid response may boost confidence in decentralized trading platforms, which are gaining market share. Decentralized exchange Hyperliquid has reimbursed nearly $2 million to users affected by a brief outage last week, a move that may strengthen confidence in decentralized trading platforms. The Hyperliquid platform’s application programming interface (API) suffered an outage Tuesday, which saw traders sidelined from order execution for about 37 minutes before resuming operations, its website shows. On Monday, Hyperliquid issued refunds totaling $1.99 million in USDC (USDC) to affected users, onchain data from Hypurrscan shows. Read more

Experts remain cautious as Bitcoin’s drop could extend amid CTA exposure uptick, hinting more correction may unfold.

The Qubic mining pool, which is attempting a 51% takeover of Monero, is allegedly being hit by a distributed denial-of-service attack linked to the Monero community. Update (Aug. 4, 2025, at 1:50 pm UTC): This article has been updated to add commentary by XMRig developer Sergei Chernykh. A mining pool behind an attempted 51% takeover of Monero is reportedly under a distributed denial-of-service (DDoS) attack, disrupting the effectiveness of its attempt. In a Sunday X post, Sergey Ivancheglo, who claims responsibility for the takeover attempt, said the Qubic mining pool he controls is under a DDoS attack. He added that the attack resulted in the mining pool’s hashrate falling from 2.6 gigahashes per second down to 0.8 GH/s. Read more

Weakness in Coinbase stock is a buying opportunity, according to the broker.

An analysis of an OnlyFans model’s earnings suggests the so-called stripper index doesn’t hold up when applied to digital adult content and Bitcoin. The "stripper index” — an anecdotal measurement that connects economic health with spending on adult entertainment — appears unable to predict Bitcoin’s (BTC) price. Kodi Rose, a self-described “dollar stripper” and adult content creator, alluded to these frontline insights in a recent viral TikTok video, saying she believes the economy is already in a recession as fewer customers are asking where they can “hit the slopes,” a social code for cocaine. The digital equivalent of exotic dancers is adult content creators, and OnlyFans dominates the space. On the platform, users subscribe to creators and tip for extras. Read more

CertiK said all the stolen funds were bridged to Ethereum from Sonic.

Solana-based memecoin platform Pump.fun saw its July revenue plummet to $24.96 million, down 80% from its January peak. Solana memecoin launchpad Pump.fun’s monthly revenue fell to a 2025 low in July, signaling a sharp drop in the memecoin creation sector after months of declining interest.  According to data from DeFi analytics platform DefiLlama, Pump.fun generated $24.96 million in revenue last month, down 80% from its January peak of over $130 million.  The platform’s revenue has steadily declined this year, decreasing to $90 million in February before plunging to $37 million in March, DefiLlama data shows. Read more

Your day-ahead look for Aug. 4, 2025

Profit-taking broke a 15-week winning streak of global cryptocurrency ETPs last week after hawkish remarks that followed last week’s US Fed rate decision. Cryptocurrency investment products ended last week in the red, interrupting 15 weeks of consecutive inflows after investor sentiment took a hit from hawkish remarks during last week’s Federal Open Market Committee (FOMC) meeting. Global crypto exchange-traded products (ETPs) saw $223 million worth of outflows last week, according to the latest report from crypto asset management firm CoinShares, published Monday. Despite a strong start to the week with $883 million worth of inflows, the “trend reversed” in the second half of the week, “likely triggered by the hawkish FOMC meeting and a series of better-than-expected economic data from the US,” the report said, adding: Read more