AI-powered summaries of the day's top crypto events
Bitcoin's price surged past $72,000, marking its highest level since June, as over $3 billion in short positions were liquidated. This move ended a six-week range and was driven by both spot and ETF demand, challenging a bearish market trend that has persisted since November.
The SEC is up against an August 20 deadline to propose a plan for distributing a $123.1 million recovery fund to investors affected by Terra's 2022 collapse. The plan will outline eligibility criteria, loss calculations, and the claims submission process.
CFTC Chairman Michael Selig announced that the agency is ready to advance crypto regulations if the CLARITY Act fails to pass. The CFTC is exploring protections for developers and other crypto-related policies to ensure market stability.
US spot Bitcoin ETFs experienced a significant inflow of $517 million, marking the largest one-day inflow since early May. This influx is part of a broader market rally that also saw Ether gain 19%, driven by increased investor confidence.
HIVE Digital Technologies secured a $350 million AI cloud contract, contingent upon a $185 million GPU infrastructure buildout. The five-year agreement is expected to generate $70 million in annual revenue once the infrastructure is complete.
Seventeen members of the Iran-based Mabna Institute were charged for their involvement in a cyber campaign that extorted $6 million in Bitcoin. The campaign targeted universities, companies, and government agencies worldwide.