Crypto Weekly Market Wrap August 3 – ETF Flows, Treasury Moves, Policy and Global Regulation Updates

The crypto market recorded another busy week across corporate treasuries, regulation, payments, tokenization, and security. Regulators advanced rules affecting stablecoins, mining, crypto kiosks, and market structure. Payment adoption also expanded through airlines, banks, and exchange-traded products. In the sections below, we will discuss major developments that caught the spotlight last week.

SEC Aims to Prepare Rules if Congress Delays

On July 27, SEC Chair Paul Atkins urged Congress to pass the CLARITY Act. According to Atkins, legislation would give crypto companies stronger and longer-lasting certainty. The SEC also continued providing lawmakers with technical help on the proposal. Atkins strongly preferred congressional action for durable oversight.

Atkins said the agency could create similar crypto rules if Congress stalled. He stressed that regulations could change under future administrations. Therefore, a federal statute would offer clearer authority and a more predictable framework for market participants. The agency remains ready to implement legislation through rules.

Strategy Raises Cash as Bitcoin Purchase Pause Extends

Strategy raised $544.5 million by selling 5.4 million MSTR shares, according to the announcement on Monday. Meanwhile, the company kept its Bitcoin holdings unchanged for about one month. Michael Saylor said the latest capital raise strengthened the firm’s dollar reserve. The raise reduced immediate pressure for more preferred securities issuance.

The company also repurchased 288,930 STRC shares for about $25 million. Moreover, the purchase averaged $86.53 per share under a new authorization. Strategy said its $3.75 billion reserve now covers preferred dividends and interest for 2.1 years.

Meanwhile, the company reported an $8.22 billion second-quarter net loss, mainly from unrealized Bitcoin value declines. Strategy holds 843,775 BTC and $3.75 billion in reserves. Management said capital market conditions would guide future purchases and financing. Strategy also reported a 4.5% Bitcoin yield during the year.

BitMine Adds More Ether and Shares

BitMine announced that it bought 9,946 ETH, worth about $19.4 million, on July 27. Its holdings increased to 5,787,414 ETH, valued at nearly $11.2 billion. The treasury now represents roughly 4.8% of Ethereum’s circulating supply. 

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BitMine provided its latest holdings update for July 27, 2026

$11.8 billion in total crypto + "moonshots":
– 5,787,414 ETH at $1,948 per ETH per ETH (per @coinbase)
– 208 Bitcoin (BTC)
– $180 million stake in Beast Industries @MrBeast
– $61 million stake in Eightco…

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) July 27, 2026

Meanwhile, BitMine repurchased 6.1 million shares under its $4 billion program. Chairman Tom Lee cited Ether’s improving performance against Bitcoin. He highlighted a three-month high in the ETH/BTC ratio and Ethereum’s 24% monthly gain.

Morgan Stanley Expands its Crypto ETP Lineup

Morgan Stanley Investment Management launched spot Ethereum and Solana exchange-traded products on NYSE Arca on July 28. Both products carried a 0.14% expense ratio. The manager also planned to stake portions of their ETH and SOL holdings. Both funds joined the company’s existing spot Bitcoin market product.

Moreover, the company said it would not retain staking rewards. The launches expanded its crypto lineup beyond the earlier Bitcoin product. As a result, the asset manager now offered listed exposure to Bitcoin, Ethereum, and Solana. MSSE and MSOL carried matching expense ratios of 0.14%.

Emirates Adds Crypto Payments for UAE Tickets

Emirates introduced CryptoCom Pay across its website and mobile application on July 28. Eligible UAE residents could use the service for flight purchases settled in dirhams. Mobile customers completed payments through the CryptoCom application. Ticket orders stayed denominated and settled in UAE dirhams.

Meanwhile, desktop users scanned a QR code and confirmed transactions within the app. The launch followed a memorandum between both companies last July. CryptoCom’s licensed Dubai entity provided the payment service under local stored-value rules. Dubai’s central bank had licensed the service provider’s local entity.

FCA Favors Stablecoins for Cross-Border Payments

The UK Financial Conduct Authority identified cross-border payments as stablecoins’ clearest near-term use case. On July 29, the regulator highlighted emerging markets with limited dollar access. Stablecoins could shorten payment routes and reduce reliance on correspondent banks. Banks, fintechs, issuers, and infrastructure firms joined detailed discussions.

JUST IN: UK policy sprint finds cross-border payments as stablecoins’ top near-term use case; domestic retail adoption likely limited. Stablecoins see relevance for settlement efficiency, potential liquidity flows. $USD? (No ticker implied) pic.twitter.com/Aqm01xnk58

— Bpay News (@bpaynews) July 29, 2026

The FCA, however, noted fewer benefits across major trade routes. Many markets already have fast and cheap transfers under existing systems. Meanwhile, merchants could benefit from lower settlement fees, faster settlements, and improved cash flow from stablecoin payments. Existing systems were less beneficial to domestic UK retail payments.

BNY Launches Fully Onchain Fund Services

BNY launched digital transfer agency services for funds using public blockchains on July 29. The system links blockchain ownership records with the bank’s existing transfer agency infrastructure. Moreover, it supports both tokenized and traditional funds across several jurisdictions. The structure differed from systems merely mirroring off-chain records.

The service also handles subscriptions, redemptions, minting, burning, and payments. Meanwhile, Baillie Gifford, Dreyfus, and BlackRock planned products through the platform. BNY said the model reduces separate recordkeeping and repeated reconciliation across fund systems. Selected British and American clients will receive initial access.

Russian Lawmaker Urges a Pause on Gram Purchases

On July 29, Russian lawmaker Andrey Svintsov advised citizens to delay purchases of Gram, Telegram Premium, and other paid services. His comments followed terrorism-related accusations against Telegram founder Pavel Durov. He sought official clarification from security and communications agencies. The recommendation covered purchases across several paid Telegram services.

However, the statement represented a parliamentary recommendation rather than a trading ban. Authorities had not announced a formal restriction on Gram purchases. Therefore, users still faced no enacted prohibition covering the cited Telegram ecosystem services. His remarks carried political weight without immediate legal controls.

South Korea Confirms its 2027 Crypto Tax

On July 29, South Korea said its delayed crypto tax should begin on January 1, 2027. Investors will receive a 2.5 million won annual deduction. Gains above that threshold will face a 20% national tax, excluding local charges. Officials had postponed the tax three times before this schedule.

🚨SOUTH KOREA CRYPTO TAX CONFIRMED FOR 2027!

Finance Minister Koo Yun-cheol confirmed the long-delayed crypto tax will start January 1, 2027, no more postponements.

Annual gains over KRW 2.5 million (~$1,800) face a 20% tax, 22% with local taxes.

Originally due years earlier,… pic.twitter.com/BxpVxBmmql

— Crypto Banter (@crypto_banter) July 30, 2026

However, lawmakers questioned the absence of loss carryforward rules. Deputy Prime Minister Koo Yun Cheol said officials could review improvements after implementation. Meanwhile, authorities continued preparing stablecoin, exchange, disclosure, security, and anti-money laundering regulations. Local taxes could lift the combined rate to roughly 22%.

Ostium Traces Vault Exploit to Off-Chain Breach

In a postmortem report on July 29, Ostium said attackers drained 23.75 million USDC from its public OLP vault. The protocol’s post-mortem blamed compromised off-chain infrastructure and fraudulent BTC-USD price reports. It found no smart contract or multisig failure. The attacker first tested the method using a small position.

Meanwhile, trader collateral remained untouched inside trading contracts. Automated monitoring eventually stopped further withdrawals. Ostium moved to a new production environment, updated security controls, and resumed trading on July 23. A separate recovery proposal for affected liquidity providers remains under preparation.

Binance Reports Progress in the Philippines

Binance founder Changpeng Zhao said the exchange received a special sandbox license in the Philippines on July 29. He also said local authorities unblocked the company’s official website. Fiat payment channels could launch soon under the new arrangement. Zhao tied the development to broader cryptocurrency expansion efforts.

Moreover, Zhao said he met another Asian country’s prime minister that day. He described the meeting as part of broader regional cryptocurrency development efforts. However, the supplied update did not identify the country or provide launch dates.

Schumer Proposes a New Anti-Corruption Bureau

Senate Democratic Leader Chuck Schumer introduced legislation to establish an independent anti-corruption bureau on July 30. The agency would conduct investigations and seek to recover funds related to alleged self-dealing by the executive branch. A seven-member Senate-confirmed board would lead it. The bill came on the heels of a July Democratic report on executive corruption.

Senate Minority Leader Chuck Schumer Proposes Anti-Corruption Agency as Trump Discloses Over $2B in 2025 Investment Income, Including $1.4B Tied to Crypto

U.S. Senate Minority Leader Chuck Schumer introduced a bill to create an agency overseeing executive-branch corruption,… pic.twitter.com/FsQBOLS8dE

— Wu Blockchain (@WuBlockchain) July 31, 2026

In addition, the bill would combine several federal ethics watchdog functions. It also would grant subpoena, enforcement, recovery, and public-reporting powers. Senate Democrats linked the proposal to allegations involving Trump family income from World Liberty Financial and foreign investors.

Quantum Solutions Sells Ether for AI Expansion

Quantum Solutions sold 1,000 ETH for about $1.903 million on July 30. Its Hong Kong subsidiary completed the disposal at an average price of $1,903. The company expected a realized accounting loss of nearly $100,970. The transaction followed another 904 ETH sale completed during mid-June.

Meanwhile, management directed proceeds toward artificial intelligence infrastructure and data centers. The funds covered deposits, GPU systems, networking equipment, launch costs, and working capital. After two recent sales, holdings fell to 4,764.80 ETH. Management authorized up to 4,375 ETH in sales through October.

Hong Kong Freezes Funds Linked to IPO Activity

Hong Kong’s Securities and Futures Commission froze HK$125.247 million in a Futu client account on July 30. Investigators suspected that an unnamed entity created artificial demand during an initial public offering. Therefore, Futu could not transfer, withdraw, or dispose of the specified assets.

However, the regulator said Futu itself faced no investigation. The restriction only covered one client account and did not affect other customers. Meanwhile, the brokerage had to report instructions involving the assets, while any movement required written approval from the commission.

Circle Secures a New York Trust Charter

Circle gained a limited purpose trust charter from New York regulators on July 31. The approval created Circle New York Trust under state banking supervision. The structure strengthens oversight around USDC operations, compliance, cybersecurity, and capital governance.

NYDFS will directly supervise the new entity’s regulated trust activities. Co-founder Jeremy Allaire called the charter a long-standing company goal. The regulated trust unit will support approved fiduciary and custody activities without accepting deposits or issuing loans.

Industry Groups Press for CLARITY Act Vote

Grayscale urged Senate leaders to schedule a CLARITY Act vote before the August recess on July 31. The company said prolonged uncertainty hurt investment, development, and American competitiveness. It also supported clearer SEC and CFTC responsibilities. The letter called the bill a bipartisan negotiation product.

Grayscale Investments, the world’s largest digital asset-focused investment platform¹, just sent a letter to the Senate requesting a floor vote on the CLARITY Act before the August recess.

"Senators and staff across the aisle have spent months addressing hard questions about… pic.twitter.com/p888ojeWtT

— Grayscale (@Grayscale) July 31, 2026

Meanwhile, Strategy, Phong Le, and Michael Saylor publicly backed the legislation. They argued that durable rules could support institutional adoption and strengthen capital markets. Nevertheless, Saylor said Bitcoin would continue operating even without new federal legislation. Supporters also linked regulatory certainty with domestic jobs and innovation.

Lummis Rejects Warren’s Crypto Ethics Criticism

Senator Cynthia Lummis rejected Senator Elizabeth Warren’s criticism of CLARITY Act ethics provisions. On August 1, Lummis said Warren’s staff misrepresented blind trusts, existing tokens, and businesses involving adult children. She defended the draft’s legal boundaries. Lummis said qualified blind trusts separate officials from investment decisions.

However, Warren’s staff argued that officials could still profit from crypto holdings. The draft also gives the attorney general sole civil enforcement authority. Moreover, the proposed ethics restrictions would expire at noon on January 20, 2029.

Russia Expands Regional Crypto Mining Restrictions

Russia approved a crypto mining ban covering Moscow, the Moscow Region, and selected Kursk areas. The restriction starts August 15, 2026, and lasts through December 31, 2032. It also blocks participation in mining pools. Mishustin formally signed the decree published on July 31.

Officials linked the measure to electricity demand and capacity risks. Meanwhile, authorities estimated crypto mining used around one gigawatt within Moscow’s energy system. The decree expanded regional restrictions rather than creating a nationwide mining ban. Selected Kursk districts and Lgov entered the restriction.

Minnesota Crypto ATM Ban Takes Effect

The statewide ban on cryptocurrency ATMs in Minnesota took effect August 1. Businesses will no longer be allowed to set up, run, maintain, and provide virtual currency kiosks. Current machines are required to halt sales as soon as possible. The underlying legislation was signed by Governor Tim Walz on May 5. Meanwhile, operators have until December 31 to move kiosks from public areas. State authorities connected the law to the losses as a result of the scams.

Minnesota's ban on crypto ATMs goes into effect after citizens report losing nearly $1 million in scams https://t.co/UaPZUZX98c

— Doris Bivings♏🦂🦃🎃💙💙❤❤🇺🇦 (@BivingsDoris) August 2, 2026

Saylor Disputes Economic Support for BIP-110

Michael Saylor said BIP-110 lacked meaningful economic consensus across Bitcoin on August 1. He disputed claims that reported node adoption showed broad network support. According to Saylor, node counts measure software endpoints rather than economic influence. Saylor estimated more than 99% of economic weight rejected adoption.

Moreover, he said major exchanges, custodians, wallets, and payment networks had not adopted the proposal. BIP-110 would temporarily limit non-financial blockchain data. Supporters cited efficiency, while critics raised concerns about censorship and centralization.

Digital Asset Investment Products Market Overview

US spot Bitcoin ETFs recorded $61.53 million in net outflows from July 27 to 31, ending three weekly inflow periods. According to data from SoSoValue, investors reduced Bitcoin ETF exposure after three weeks of steady demand.

Bitcoin Spot ETFs See $61.53M in Net Outflows, Ending Three-Week Inflow Streak

From July 27–31 (ET), Bitcoin spot ETFs recorded $61.53 million in net outflows, ending a three-week inflow streak. Ethereum spot ETFs saw $27.42 million in net inflows, extending their streak to four… pic.twitter.com/DGxz6nJuex

— Wu Blockchain (@WuBlockchain) August 3, 2026

Meanwhile, spot ether ETFs attracted $27.42 million, extending their inflow streak to four weeks. Spot XRP ETFs added $14.86 million, while Solana products gained $2.82 million. However, spot Hyperliquid ETFs posted $14.75 million in net outflows. The weekly figures show capital moving unevenly across crypto investment products as investors reassessed near-term market risk during the period.

Bitcoin Price Performance

Bitcoin recorded a negative performance last week, declining by more than 4%. This bearish momentum pushed the price from the $65K region toward the $63K levels. At the time of this writing, BTC was trading around $62,550, with a market cap of $1.25 trillion.

Looking at the technical indicators, BTC displays a bearish reversal from the upward trend as bears hold the ground tight. The price is forming red candlesticks after the recent rejection from the middle Bollinger band. 

Should the current trend hold further, the price could retest the lower Bollinger band at $55,870 levels. Meanwhile, the RSI has started trending downwards again at 38 indices, indicating reduced buying pressure.