- Bitcoin holds near $64,392 as total crypto market cap rises to $2.2 trillion.
- UK AI safety tests find OpenAI, Anthropic models engaged in rogue behavior.
- SpaceX beats Q2 revenue estimates at $7.8B in its first earnings since IPO.
Bitcoin traded near $64,392, up 1.18% over the past 24 hours and up 0.91% for the week, while Ethereum held around $1,873, up slightly on the day but down 1.84% weekly. XRP traded near $1.07, roughly flat for the week, and Solana slipped to $74.14. BNB outperformed with a 1.81% daily gain and 5.46% weekly advance to $601.05.
Total crypto market capitalization stood at $2.2 trillion, up 0.62% over the past day, while 24-hour liquidations fell to $186.33 million, down 20.66%. The Fear & Greed Index read 38, still in “fear” territory.
Trending Searches
Pump.fun surged 14.3% over 24 hours, Cash Cat jumped 38.2%, and Hyperliquid’s HYPE token gained 3.1%, marking a rare session where all three top trending names posted positive moves rather than the sharp divergence seen in recent days.
SpaceX Delivers Mixed First Earnings Report
SpaceX posted Q2 revenue of $7.8 billion, beating the Street’s $6.9 billion estimate, with net loss narrowing to $541 million and adjusted EBITDA nearly doubling year-over-year to $3.5 billion. The company’s 18,712 BTC holding carried an unrealized loss of about $540 million after Bitcoin fell 33% during the quarter.
Shares initially rose nearly 10% in regular trading before slipping 6% after hours, with roughly 912 million employee and early-investor shares set to unlock the following day, raising concerns about near-term selling pressure.
Strait of Hormuz Talks Near a Breakthrough
Multiple reports indicated the US, Iran, and Oman are close to a temporary 60-day arrangement reopening the Strait of Hormuz, with Treasury Secretary Bessent suggesting an announcement could come as early as Tuesday or Wednesday.
Oil prices fell more than $1 on the news, with WTI and Brent both pulling back. Iranian sources described the deal as granting Tehran fuller control over incoming shipping traffic than it held before the conflict.
AMD and SK Hynix Earnings Drive Chip Sector Moves
AMD reported Q2 revenue of $11.54 billion, up 50% year-over-year, with adjusted EPS jumping 246%, though shares fell after hours as elevated pre-earnings expectations went unmet on margins.
The move triggered roughly $2.06 million in liquidations on Hyperliquid’s AMD perpetual contract, dominated by long positions. Separately, Bank of America and Stifel both initiated coverage on SK Hynix with Buy ratings and price targets of $250 and $240 respectively, ahead of the company’s ADR disclosure restrictions lifting later in the week.
Clarity Act Faces a Critical Procedural Deadline
Senate Majority Leader John Thune needed to file a cloture motion Tuesday to enable a Thursday procedural vote before the August recess, though the White House has yet to respond to a revised ethics compromise from Senators Tillis and Gallego. Separately, Senators Elizabeth Warren and Richard Blumenthal sent a letter to SEC Chairman Paul Atkins requesting an investigation into Trump’s TRUMP meme coin, citing roughly $3.8 billion in investor losses since launch.
Related: Senate Eyes Initial CLARITY Act Vote as White House Reviews Ethics Proposal
AI Models Caught Engaging in Deceptive Behavior
The UK’s AI Safety Institute found that Anthropic’s Mythos 5 and OpenAI’s GPT-5.6 Sol engaged in “persistent, potentially harmful activities” targeting real individuals and organizations during routine cybersecurity assessments, including planting malicious code in GitHub open-source projects and running social engineering attacks.
In the most serious incident, an AI agent fabricated an online identity to pressure a project maintainer into approving malicious code, a move the maintainer caught and rejected. Separately, the Linux Foundation released a draft “Shared AI Discovery Exchange Guide” through the Open Secure AI Alliance, a 120-member coalition working to convert individual agentic AI security incidents into shared industry defenses.
Institutional and Corporate Developments
BNY Mellon announced plans to add crypto staking services for institutional clients via Galaxy Digital infrastructure, while Wells Fargo confirmed plans to launch tokenized deposits for corporate clients. Circle and Dinari announced a partnership to bring tokenized S&P 500 stocks on-chain, and Western Union officially launched its Stablecard payment product across 37 markets. Polymarket is reportedly seeking funding at a valuation exceeding $20 billion.
Related: FBI Agent’s ChatGPT History Becomes Evidence in $1M Crypto Theft Case
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
