XRP may stay structurally weak unless whale wallets see daily inflows above 5 million tokens, one analyst warned. Key takeaways: In the past month, XRP whales have offloaded 640 million tokens, or $1.91 billion. Bearish divergence on the chart hints at weakening momentum. Read more
Build on Bitcoin raised $21 million to unlock native BTC DeFi with a new bridge, hybrid layer-2 infrastructure and institutional investor backing. Layer-2 blockchain network Build on Bitcoin (BOB) has raised $21 million in strategic funding rounds since December 2024, with $9.5 million secured in its latest round, according to a news release sent to Cointelegraph. Many existing investors have increased their financial commitments in the latest $9.5 million strategic round, including Castle Island, along with new strategic investors Anchorage, Amber Group and sats Ventures. Nic Carter, founding partner of Castle Island, told Cointelegraph why they have decided to double down on their investment: Read more
Scammers used Google Ads to impersonate Aave investment platforms in an attempt to trick users into linking wallets to malicious sites. Soon after decentralized liquidity protocol Aave announced it had surpassed $60 billion in net deposits, scammers launched a phishing campaign targeting its users through Google Ads, according to security researchers. On Wednesday, Aave said that it had become the first decentralized finance (DeFi) protocol to accumulate $60 billion in net deposits across 14 networks. According to Token Terminal data, Aave’s net deposits have more than tripled in the past year from about $18 billion in August 2024. A day later, on Thursday, blockchain investigation firm PeckShield alerted the crypto community to an ongoing phishing attack targeting Aave (AAVE) investors. Scammers had posted phishing links to fake Aave investment platforms via the Google Ads service. Read more
Bitcoin price analysis looked to last November for clues as to how high BTC might go if recent bull market history repeats. Key points: Bitcoin is attempting a support retest that looks very similar to late 2024, trader Galaxy said. Last time, BTC price action went from $70,000 to $108,000 after a successful retest. Read more
A VARA spokesperson told Cointelegraph that while mutual license recognition is a feature, it does not mean automatic passporting to different emirates. The United Arab Emirates (UAE) took a significant step toward harmonizing its approach to crypto regulation. The country’s Securities and Commodities Authority (SCA) and the Dubai Virtual Assets Regulatory Authority (VARA) announced a strategic partnership to unify the UAE’s approach to crypto regulations. Last September, the regulators expressed their intention to work together toward unifying crypto frameworks in the country. One feature of the partnership is that it will allow Dubai-based licenses to service the entire UAE, according to a Wednesday announcement shared with Cointelegraph. A VARA spokesperson told Cointelegraph that the latest development formalizes the agreement between the two regulators and “operationalises that intent” with concrete mechanisms. Read more
Shares in IREN Ltd closed trading on Wednesday up 11.4% after it reported mining more Bitcoin than MARA Holdings in July. Shares in IREN Ltd popped 11.4% after the Bitcoin miner posted $86 million in revenue for July, outperforming industry heavyweight MARA Holdings in Bitcoin production. On Wednesday, IREN reported mining 728 Bitcoin (BTC) in July, beating MARA’s 703 BTC mined over the same period despite having a smaller deployed hashrate — 50 exahashes per second (EH/s) compared to MARA’s 58.9 EH/s. IREN reported an average hashrate over July of 45.4 EH/s, signalling that a majority of its machines stayed online and productive throughout the month. Read more