Crypto

Hungary removed mandatory third-party checks for crypto conversions as CoinCash received authorization to provide digital asset services under MiCA. Hungary is rolling back strict crypto rules as CoinCash prepares to resume services after receiving authorization under the European Union’s Markets in Crypto-Assets (MiCA) regulation. The Hungarian Parliament voted to repeal the country’s crypto validator requirement, removing mandatory third-party approval for certain crypto transactions, the Hungarian tax and legal publication Ado.hu reported on Tuesday. Finance Minister Kármán András said the government removed the validation requirement after the previous rules disrupted Hungary’s crypto market, prompting some service providers to halt operations in the country. Read more

The charges could result in life imprisonment, escalating an investigation that has already led to over 100 million rubles in fines for the platform this year.

XRP trades near $1.06, down 2.9% over 24 hours and 8.6% over the past week, as CoinGlass shows $2.43 billion in XRP open interest, $2.47 billion in 24-hour futures volume, and just $361 million in spot volume. Futures turnover is running roughly 6.85 times spot turnover, and forced liquidations have already erased $9.51 million in […] The post XRP is running a $2.4B debt trap that could wipe out spot buyers the second the Fed speaks appeared first on CryptoSlate.

The analyst compared XRP with gold, arguing that lasting value comes from being held as collateral rather than constantly exchanged.

Is crypto about to change forever? Morgan Stanley makes its move, the Clarity Act advances, and Bitcoin plus Ethereum price react. The post Crypto News, July 29: Morgan Stanley Launches Ethereum and Solana ETPs, Paul Atkins Pushes Clarity Act, Bitcoin Price Bounces appeared first on Cryptonews.

Gabriel Perez, who was accused of profiting from Kalshi bets tied to President Donald Trump’s speeches, is no longer employed by the federal government. A White House teleprompter operator accused of using inside knowledge to profit from prediction market bets on President Donald Trump’s speeches no longer works for the federal government, according to the Associated Press. A White House official said on Tuesday that Gabriel Perez, who had been placed on unpaid leave earlier this month, is no longer employed by the federal government but declined to say whether he resigned or was fired. Perez was accused of using nonpublic information to make more than $100,000 betting on Kalshi prediction markets tied to Trump’s speeches, according to an earlier ABC News report. Read more

Bitcoin fell over the past 24 hours as traders positioned for a Federal Reserve decision that could break a market pattern dating back more than three decades. Data from CryptoSlate showed the largest cryptocurrency falling as much as 3% to $62,913, its lowest level in nearly two weeks, before recovering to $63,795 as of press […] The post Kevin Warsh’s no-guidance Fed breaks a 30-year playbook – leaving Bitcoin vulnerable to surprise rate hike appeared first on CryptoSlate.

The HIP-3 market operator said affected traders will receive compensation as it reviews how external prices enter its oracle.

Perps are a trojan horse to bring all of traditional finance onchain, argues Brian Smith, president of the Jito Foundation.

US spot Bitcoin ETFs recorded four straight sessions of outflows totaling $526 million as Bitcoin faced renewed selling pressure after failing to hold $65,000. US-listed spot Bitcoin exchange-traded funds (ETFs) extended their outflow streak to four consecutive trading sessions, with investors withdrawing about $49.8 million as Bitcoin briefly fell to $63,000. Bitcoin ETFs recorded total net outflows of about $526 million across the four trading sessions, with the largest withdrawals coming on July 24 and July 23, at about $240 million and $225 million, respectively, according to SoSoValue data. Despite the recent selling pressure, cumulative net inflows remained at $51.3 billion, while total net assets stood at $77.2 billion as of July 28. Read more

Industry participants said stablecoins offer the biggest near-term benefits for cross-border payments, while domestic UK retail adoption is likely to remain limited. Cross-border payments are the clearest near-term use case for stablecoins, while consumer adoption in United Kingdom retail payments is likely to be slower, according to the Financial Conduct Authority’s Stablecoin Sprint. The FCA published findings from its March policy initiative that brought together banks, payment firms, stablecoin issuers and other industry participants to explore how stablecoins could be used. Participants said stablecoins offer the greatest advantages for cross-border payments, particularly in emerging markets with limited access to US dollars, but provide fewer benefits in major payment corridors where existing systems are already fast and relatively inexpensive. Read more

Here's why today's meeting is quite historic and how it can impact crypto markets.

"As long as there is any bid from speculators, community members, or exchanges, the price will be >0," Perplexity stated.

Markets price a hold at Wednesday's decision, but a real minority sees a surprise hike, with Citadel Securities and UBS among those flagging the risk.

The mark price fell 19% on a single pre-market trade in Korea. The company says its oracle worked exactly as designed.

Citadel's macro team says Wednesday's hike isn't about the data. It's about Warsh's best shot at making a surprise actually count before the market stops being surprised.

SK Hynix fell 17% after profit rose 557% and still missed estimates. Bitcoin is up 1%, and the Fed decides rates today.

Trade.xyz said its oracle worked as designed but will reimburse eligible traders after an external SK Hynix price print caused the contract’s mark price to fall nearly 19%. Trade.xyz, an operator of onchain perpetual markets on Hyperliquid, said it will cover eligible liquidation losses after a price anomaly hit its contract tracking SK Hynix, a South Korean chipmaker and producer of high-bandwidth memory for artificial intelligence. Trade.xyz said the SKHYNIX contract’s mark price fell to $917.25 from $1,127.90 at 23:01 UTC on Monday after an executed trade was relayed by multiple independent data providers. Eligibility requirements will be announced soon, with distributions expected in the coming days. The SK Hynix contract ranks among Hyperliquid’s most active markets. On Wednesday, Hyperliquid data showed the contract had generated over $1.5 billion in 24-hour volume and held nearly $600 million in open interest at the time of writing. Read more

Trade.xyz said its oracle worked as designed but will reimburse eligible traders after an external SK Hynix price print caused the contract’s mark price to fall nearly 19%. Trade.xyz, an operator of onchain perpetual markets on Hyperliquid, said it will cover eligible liquidation losses after a price anomaly hit its contract tracking SK Hynix, a South Korean chipmaker and producer of high-bandwidth memory for artificial intelligence. Trade.xyz said the SKHYNIX contract’s mark price fell from $1,127.90 to $917.25 at 23:01 UTC on Monday after an executed trade was relayed by multiple independent data providers. Eligibility requirements will be announced soon, with distributions expected in the coming days. The SK Hynix contract ranks among Hyperliquid’s most active markets. On Wednesday, Hyperliquid data showed the contract had generated over $1.5 billion in 24-hour volume and held nearly $600 million in open interest at the time of writing. Read more

Hayden Adams said critics misunderstood Uniswap’s newly approved v4 protocol fees, rejecting claims the change reduces liquidity providers’ earnings. Uniswap founder Hayden Adams pushed back against criticism of Uniswap’s newly activated v4 protocol fees, arguing that claims they reduce liquidity providers’ earnings are based on incorrect assumptions. In an X post on Tuesday, Adams said recent criticism surrounding the protocol fee activation amounted to “FUD and misunderstanding.” Adams also disputed claims that the protocol was taking 25% of LP profits. Using a 30-basis-point pool as an example, he said a 5-basis-point protocol fee represents about 14% of total swap fees, not a reduction in LP earnings. Read more