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Bitcoin weekend blip wiped out $250M in over leveraged long traders while open interest weakens

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Bitcoin weekend blip wiped out $250M in over leveraged long traders while open interest weakens
Bitcoin’s rally squeezed short sellers last the week. By Sunday, the reversal was hitting leveraged longs. At about 07:00 UTC on Aug. 23, CoinGlass showed $101.39 million of crypto long positions liquidated over four hours, almost 86% of the window’s $118.13 million total. The 24-hour view put long liquidations at $250.57 million out of $339.73 … Read more

Wall Street just poured nearly $90 million into altcoins as XRP, SOL and HYPE rip higher

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Wall Street just poured nearly $90 million into altcoins as XRP, SOL and HYPE rip higher
US-listed crypto exchange-traded funds outside Bitcoin and Ethereum drew nearly $90 million last week. Investors followed a sharp market rally into XRP, Solana, Chainlink and Hyperliquid. XRP products led the group with $39.78 million of net inflows in the week ended Aug. 21, their strongest showing since the week ended May 15, when they attracted … Read more

The US approved high-leverage Bitcoin trading while crypto founders remain legally blocked from raising funds

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The US approved high-leverage Bitcoin trading while crypto founders remain legally blocked from raising funds
On May 29, the CFTC approved a Bitcoin perpetual contract for a regulated US exchange. Almost three months later, on Aug. 18, the SEC proposed a legal route through which crypto projects could someday raise money from the public under rules written for token networks. That’s a pretty unusual order in which Washington is rebuilding … Read more

America is creating a new class of crypto banks – but they aren’t really banks

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America is creating a new class of crypto banks – but they aren’t really banks
Circle now has a federal bank charter. However, the charter provides no ordinary checking accounts, FDIC-insured savings accounts, or mortgages. Circle National Trust is part of a new federal cohort built around custody, fiduciary administration, stablecoin reserves, and settlement. Ripple, BitGo, Fidelity Digital Assets, Paxos, Bridge, Crypto.com, Coinbase, Morgan Stanley and World Liberty Financial have … Read more

Local’s access to global crypto platforms could end under Nigeria’s proposed capital floor

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Local’s access to global crypto platforms could end under Nigeria’s proposed capital floor
Nigeria’s Securities and Exchange Commission has proposed rules that would bring crypto businesses into its licensing perimeter when they operate in Nigeria, serve Nigerian residents, or target the country’s investors and market through digital channels. The plan would raise the cost of serving Nigerian users by combining local-presence requirements with capital, custody, and stablecoin-reserve tests. … Read more

Everyday crypto users face monthly tax bills on total asset value if covered brokers fail to collect under new Illinois rules

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Everyday crypto users face monthly tax bills on total asset value if covered brokers fail to collect under new Illinois rules
Illinois’s 0.2% digital asset tax, scheduled to start Jan. 1, 2027, now faces another industry complaint as brokers prepare for a levy tied to the value of customer assets rather than their gains or service fees. Blockchain Association and the Crypto Council for Innovation said they filed the complaint on Aug. 21 in the Circuit … Read more