Russia has shut down nine unregistered crypto exchanges in Moscow, with the FSB alleging they helped move scam proceeds abroad through Ukrainian call centers. Russia’s Federal Security Service (FSB) has raided nine unregistered crypto exchange services in Moscow over alleged money laundering involving fraud proceeds that authorities linked to Ukraine-based scam call centers. The agency said it detained more than 20 employees at the Moscow International Business Center (Moscow City) as part of an operation targeting channels allegedly used to move illicit funds abroad through crypto assets, according to an official statement on Friday. The FSB said the exchanges converted money stolen from Russian victims of phone scams into cryptocurrency and transferred it to accounts belonging to what it described as Ukrainian handlers. Read more
Perpetual futures trading volume on crypto exchanges fell to its lowest level in 31 months, while perpetual trading on decentralized platforms neared a one-year low. Crypto perpetual futures trading volume on centralized cryptocurrency exchanges (CEXs) fell to $4 trillion in July, marking a 31-month low last seen in December 2023. Binance led CEXs with $1.4 trillion in monthly perpetual futures volume, followed by OKX with $607 billion and Bybit with $300 billion, analytics platform CryptoRank said in a Friday X post. Perpetual futures volumes briefly recovered between April and June before declining across all major venues in July. Read more
Binance saw a record divergence between daily spot and futures trading volumes, with the latter reaching nearly $58 billion. Bitcoin (BTC) derivatives trading volumes are now nearly eight times higher than spot markets on Binance. Key points: Read more
CleanSpark’s shares fell 5.5% on Thursday after the Bitcoin miner reported $138 million in quarterly revenue, narrowly missing Wall Street’s consensus estimate. Nasdaq-listed Bitcoin mining company CleanSpark reported $138 million in revenue for the third quarter of fiscal 2026. The $138 million represented a 30.5% year-over-year decrease from $198 million, according to its quarterly results published on Thursday. CleanSpark also reported a net loss of $239 million, or $0.89 per basic share, for the three months ended on June 30, compared with $257 million in net income, or $0.90 per share, for the same period last year. Read more