KLEA Crypto Daily: Friday, August 01, 2025

Published: August 2, 2025 – 00:18 UTC

Here’s a look back at the key stories from August 01, 2025.

Japan-listed company Metaplanet to Issue ¥555 Billion in Preferred Shares for Bitcoin Reserves

Metaplanet plans to issue up to ¥555 billion in preferred shares to fund its Bitcoin reserve strategy, aiming to purchase Bitcoin as part of its corporate treasury. The move reflects a growing trend of companies diversifying their reserves with cryptocurrencies.

Mill City Ventures Secures $500M Equity Line for SUI Treasury Expansion

Mill City Ventures has secured a $500 million equity facility to expand its SUI treasury holdings, with an agreement enabling the firm to sell up to $500 million. This move highlights the increasing interest in leveraging equity lines to scale treasury holdings in the crypto space.

Coinbase Adds Bitcoin, Eyes Tokenized Stocks and Prediction Markets

Coinbase added 2,509 bitcoin to its balance sheet in the second quarter and plans to roll out tokenized U.S. equities and on-chain prediction markets, expanding beyond trading fees. The exchange aims to offer faster settlement and lower costs with these new products, pending regulatory approval.

SEC Chair Pledges Clear Rules Under ‘Project Crypto’ Overhaul

The U.S. SEC announced "Project Crypto" to update rules for digital assets, aiming to encourage innovation while protecting investors. The initiative seeks to streamline licensing processes for brokerages and differentiate securities from commodities in the crypto market structure.

Crypto Hacks Top $142 Million in July, Led by CoinDCX Breach

Hackers and scammers stole over $142 million from the crypto industry in July, with the largest incident being the $44 million breach at India-based exchange CoinDCX. Despite a 27% increase from June, the total stolen amount remains below last year's figures, with PeckShield noting a significant return of funds by attackers in some cases.

Michael Saylor says owning 628k BTC or 7% of supply is competitive as 160 firms now HODL

Michael Saylor, Executive Chairman of Strategy, defended the firm's significant Bitcoin holdings, stating that owning 3% to 7% of the total Bitcoin supply is a balanced position. He highlighted the growing interest from public companies, with over 160 firms now holding Bitcoin on their balance sheets, signaling a widespread adoption trend.

Gate US Officially Launches to Offer Secure and Compliant Crypto Trading to U.S. Customers

Gate US, the localized platform powered by global crypto leader Gate Group, has officially launched in the United States, now offering spot trading services tailored for U.S. customers. With a focus on security, simplicity, and regulatory compliance, Gate US aims to provide a seamless crypto trading experience.

Winklevoss Twins Push Back on Trump Pick for CFTC Chair

Tyler Winklevoss criticizes Brian Quintenz, President Donald Trump's nominee for the Commodity Futures Trading Commission chair, calling him "the wrong person" for the job. Quintenz's nomination has faced delays amid concerns about potential conflicts of interest, raising questions within crypto circles.

State of stablecoins after GENIUS Act: Expert weighs in

Following the US passage of the GENIUS Act, Fabian Dori of Sygnum Bank analyzes the future of stablecoins, institutional adoption, and global crypto regulation.

Coinbase’s $1.5bn revenue shows thinning volume as the ‘crypto superapp war’ wages on

Coinbase reports a 25% drop in revenue last quarter amidst increasing competition in the crypto market, pushing the company to expand its product line beyond retail trading.

OpenAI Raises $8.3B at $300B Valuation – Per New York Times

OpenAI has secured a significant $8.3 billion in funding, valuing the company at $300 billion, as reported by the New York Times. This substantial investment underscores the growing interest and support for artificial intelligence technologies.

Bitcoin Cash (BCH) Retreats to $554 After Testing $580 Resistance – Key Levels to Watch

Bitcoin Cash (BCH) has experienced a 4.92% drop to $554 after testing a resistance level of $580. Traders are closely monitoring key support levels and technical indicators for potential market movements following this pullback.

Spot Ether ETFs Clock $5.4B Monthly Inflow Record Amid 20-Day Streak

Spot Ether ETFs recorded a remarkable $5.43 billion in net inflows in July, marking a 369% monthly surge and extending their daily inflow streak to 20 consecutive days. This significant increase highlights the growing interest and investment in Ether ETFs.

Strategy Earned Nearly 3x More Than Goldman Sachs in Q2 Thanks to Bitcoin Surge

Bitcoin-focused firm Strategy posted a record $10 billion in net income for the second quarter of 2025, outperforming traditional financial giants like Goldman Sachs and Bank of America. The firm's strong financial performance was attributed to its Bitcoin treasury, which played a pivotal role in achieving this milestone profitability.

Bitcoin Experiences Significant Drop, Leading to Over $1 Billion in Crypto Liquidations

Bitcoin faced a notable decline, dropping over 2.5% to $114,322 on July 31, resulting in liquidations exceeding $1 billion across the crypto market. This plunge followed earlier losses and impacted Dow and Asian markets, highlighting the volatility in the cryptocurrency space.

Amazon Backs 'Netflix of AI' Startup Fable With User-Generated Animation Launch

Amazon has supported the startup Fable, known as the 'Netflix of AI,' which allows users to create entire episodes from prompts or photos, introducing a new form of storytelling. This partnership signifies Amazon's interest in innovative modes of content creation and distribution in the digital age.

Source: KLEA News