Movement Labs Files for Chapter 11 Bankruptcy With Liabilities Above $1 Million Movement Labs, the developer of the Movement blockchain, has filed for Chapter 11 bankruptcy protection. Court filings show the company has between $100,000 and $500,000 in assets, more than $1 million in liabilities and fewer than 1,000 creditors. Its largest creditors include co-founder Rushi Manche, the Delaware Division of Revenue and Anchorage Digital. The filing follows controversy over MOVE token market-making, an internal investigation and Binance’s ban of the related market-making account. Movement Labs parted ways with Manche in May 2025.

Tom Lee: Ethereum Will Penalize Impatient Investors On July 7, 2026, Tom Lee @fundstrat stated on the New Era Finance Podcast that the recent lag in the crypto market is primarily due to the aftermath of deleveraging, with capital flowing toward yield-bearing sectors. When discussing how to maintain conviction during the pullback of assets like Ethereum, he noted that the fundamentals remain unchanged. Citing Nvidia's $2 trillion surge in three months after a long consolidation at $160, Tom Lee expressed that both the stock and crypto markets will ultimately penalize impatient investors, and those who cannot hold on are the ones who actually lose.

TKNZ, the First Multi-Token Actively Managed Spot Crypto ETF, Launches With HYPE Significantly Overweight Bloomberg ETF analyst Eric Balchunas said T. Rowe Price’s actively managed crypto ETF TKNZ launched today as the first multi-token actively managed spot ETF, with a 0.75% fee and approximately $15 million in initial assets. Its opening portfolio allocates 40.75% to BTC, 18.42% to ETH, 11.01% to BNB, 9.44% to SOL, 9.37% to XRP, 6.45% to HYPE, 3.00% to XLM and 1.28% to DOGE, with USDC and cash accounting for 0.16% and 0.11%, respectively. The fund is underweight BTC and overweight most other tokens, particularly HYPE.

Arkham: Satoshi Leads Bitcoin Holdings With 1.096 Million BTC, Coinbase Ranks Second Arkham data shows that Bitcoin’s pseudonymous creator Satoshi Nakamoto holds approximately 1.096 million BTC worth around $71 billion, making Satoshi the largest Bitcoin-holding entity. Coinbase ranks second with roughly 981,000 BTC, followed by Strategy with 844,000 BTC, BlackRock with 732,000 BTC and Binance with 675,000 BTC. The U.S. government holds approximately 325,000 BTC, largely obtained through asset seizures. By individual wallet address, the two largest Bitcoin wallets are both Binance cold wallets, holding approximately 249,000 BTC and 181,000 BTC, respectively.

Polygon Labs Announces Layoffs, Shifts From Blockchain Foundation to Blockchain Payments Company Polygon Labs CEO Marc Boiron said the company is in the final stage of acquiring Coinme and integrating its team. To achieve profitability in 2027, Polygon Labs is transitioning from a blockchain foundation to a blockchain payments company. Boiron said the layoffs are driven by the company's strategic shift rather than employee performance. Polygon Labs added that affected employees will receive severance packages and career placement support.

Morpho Frontend and API Partially Disrupted by AWS Outage, Now Restored Morpho principal engineer Julien said app morpho org and api morpho org experienced a partial outage about three hours ago, likely due to an issue with AWS CloudFront. All Morpho services have since been restored and are operating normally. YEET co-founder Mando also said the project's website is offline due to the same AWS CloudFront outage, stressing that the incident has no impact on user assets or funds. The team is actively working on a fix and expects services to resume shortly.

Fed Chair: We're Not Bailing Out Anybody, Including Crypto Federal Reserve Chair Kevin Warsh @Not_KevinWarsh said at a July 14 hearing of the U.S. House Financial Services Committee that the Fed does not want to be in the bailout business, and hopes reforms can reduce extreme risks so the financial system is not in a position where anyone needs to be bailed out, including the crypto industry. However, when pressed on whether the Fed would provide support if stablecoins or the crypto market faced a run, Warsh did not make a clear commitment that there would be no bailout under any circumstances.

Base Founder Jesse Pollak: Base Will Focus on Trading, Payments and AI Agents After Moving Away From Social Push Base founder Jesse Pollak said he was wrong to focus heavily on social products and content coins, acknowledging that the strategy caused Base to fall behind in areas such as perpetuals, prediction markets, tokenization and payments. Pollak said he has shifted his focus back to the Base blockchain, arguing that crypto adoption does not require social products and can instead be driven by financial applications such as stablecoins, prediction markets, perpetuals and tokenization. Pollak said the Base App has been handed back to Coinbase, with Cobie taking over its development, while he will focus on building Base into infrastructure for global finance. He outlined three priorities for 2026: expanding trading across assets including tokenized stocks and app coins, improving global stablecoin payments, and supporting AI agents using crypto-native payments.

$1.8 Billion in USDC Left Binance After Its MiCA Setback. But Who Really Gained? Binance recorded $1.8 billion in net USDC outflows in Q2 2026, including $1.4 billion in June alone, while its tracked USDC balance fell 19%. Over the same period, USDC’s total supply contracted by 5.5%, equivalent to approximately $4.3 billion in net redemptions. Binance may have been affected by its failure to secure a MiCA license, but OKX did not capture the outflows, as its own USDC balance also declined 9.7%. Among the comparable exchanges, Bybit was the only one to record meaningful growth, with its USDC balance rising 45% from $450 million to $660 million, supported by demand for USDC-margined perpetual contracts and options. Circle’s distribution payments may have kept USDC inside Binance’s treasury, but they did not retain user balances. Despite the outflows, Binance still accounted for 62% of the stablecoins held across the eight exchanges reviewed and roughly 80% of the USDC held by centralized exchanges.

Just In: Coinbase Opens Registration to Users in China On July 14, multiple social media users reported that Coinbase had opened account registration to users in China. Wu Blockchain confirmed the change with Coinbase staff, who said users can now complete verification using a Chinese national ID and a mainland China address. Previously, the process required a Chinese passport and a Hong Kong address.

Tom Lee: Why Ethereum Could Become a $5 Trillion Network On July 7, 2026, Tom Lee @fundstrat stated in an interview with the New Era Finance Podcast that at its current valuation of around $300 billion, Ethereum is grossly undervalued. As traditional assets like stocks and real estate gradually become composable, monetized, and digitized, running on Ethereum and other blockchains, he believes Ethereum could easily become a $1 trillion to $5 trillion network in the next few years. Regarding how Ethereum captures value, Tom Lee compared it to land; if everything happens on Ethereum, then Ethereum is equivalent to the land of the digital world, making it the core asset that should appreciate over time.

BlackRock’s BUIDL Tops $900M on Avalanche, Doubles in a Week According to RWA xyz, BlackRock’s tokenized money market fund BUIDL has surpassed $900 million in assets under management (AUM) on the Avalanche network, increasing by approximately $436 million (105%) over the past week. Launched in March 2024, BUIDL now has a total AUM of about $2.87 billion, making it one of the world’s largest on-chain tokenized U.S. Treasury funds.

Coinbase Ventures Leads Crypto VC Deal Count in H1 2026 According to CryptoRank, Coinbase Ventures was the most active crypto investor in H1 2026, participating in 30 deals. It was followed by Animoca Brands with 19 deals, a16z crypto with 18, and Tether with 15. Castrum Capital, Becker Ventures and Galaxy each recorded 10 deals.

Adam Back and Michael Saylor Oppose BIP 110 on Bitcoin Blockstream co-founder and Hashcash inventor Adam Back and Strategy founder Michael Saylor both opposed implementing BIP 110 on the Bitcoin network. Back said BIP 110 attempts to police other people’s transactions and conflicts with Bitcoin’s principles of decentralization and permissionlessness, warning that pushing it forward would only lead to a fork. Saylor said BIP 110 turns a spam dispute into a consensus change that would invalidate some currently valid, fee-paying transactions. He argued that such a precedent is highly dangerous and that the community should focus on more fundamental threats.

DeFiLlama: Gate Sees $207 Million Net Outflows in 7 Days After User Theft Incident According to DeFiLlama data, Gate recorded $207 million in net outflows over the past 7 days amid fallout from a user theft incident, ranking second among CEXs by outflows. Binance led CEX inflows with $308 million in net inflows over the same period. In addition, Binance and Bybit have seen significant outflows over the past month due to the EU’s delisting policy.

Former Meta Engineer: Quantum Computing and Miners Are Bitcoin’s Two Ticking Time Bombs A former Meta engineer @techleadhd says Bitcoin faces two ticking time bombs that have yet to be defused: quantum computing and the future of miner incentives. Quantum advances could one day threaten Bitcoin wallet security, while the lack of a sustainable fee market raises questions about long-term network security as mining rewards decline. He also challenges Bitcoin’s vision as a sovereign currency, arguing that governments are unlikely to tolerate a monetary system beyond their control.