It’s been a wild week in crypto filled with massive Bitcoin buys, cyber heists, and tighter global regulations. Here’s a breakdown of the biggest headlines you need to know.
Trump Media Makes a Bold Bitcoin Bet
Trump Media and Technology Group has made a massive move into Bitcoin, purchasing $2 billion worth of BTC and related securities for its corporate treasury. This now makes Bitcoin the largest portion of Trump Media’s $3 billion liquid assets, signaling a strong bet on crypto amid macro uncertainty.
Strategy Keeps Stacking BTC
Not to be outdone, Strategy (the Bitcoin treasury giant) continued its BTC accumulation spree, adding 6,220 Bitcoin between July 14–20 for $739.8 million an average price of $118,940 per coin.
This pushes Strategy’s total stash to 607,770 BTC. The company also expanded its STRC preferred stock issuance from $500 million to a massive $2 billion, quadrupling the offering after strong investor interest.
CoinDCX Offers $11M Bounty After $44M Hack
After losing $44 million in a major cyberattack on Friday, Indian exchange CoinDCX is going on the offensive.
They’ve launched a bounty program offering up to 25% of recovered assets (capped at $11 million) to anyone who can help track down and recover the stolen funds. It’s a bold move, signaling how serious the exchange is about damage control and asset recovery.
India Tightens Crypto Tax Enforcement
India’s tax authorities are ramping up efforts to catch crypto tax evaders. The Central Board of Direct Taxes (CBDT) is now leveraging AI-powered tools and international data-sharing agreements to identify suspicious transactions.
According to Chairman Ravi Agrawal, crypto traders should assume they’re on the radar traditional privacy tricks won’t work anymore.
Ark Invest Dumps Coinbase Shares
Cathie Wood’s Ark Invest just sold nearly 219,000 shares of Coinbase (COIN) across three of its ETFs worth about $90.6 million.
Here’s the breakdown:
- ARKK: 174,746 shares
- ARKW: 27,663 shares
- ARKF: 16,577 shares
The timing suggests a strategic rebalance amid shifting market conditions.
Telegram Adds Crypto Wallet for U.S. Users
Telegram just rolled out crypto wallet functionality for U.S. users through a partnership with MoonPay. The new non-custodial wallet lets users send and manage crypto directly within the messaging app.
It’s part of Telegram’s broader push into the Web3 space making crypto as easy as texting.
Prosecutors Eye Dragonfly Capital
The heat is rising for Dragonfly Capital. Prosecutors are weighing potential charges against firm partner Tom Schmidt and others over their alleged ties to Tornado Cash developer funding.
The investigation is unfolding alongside the ongoing criminal trial of Roman Storm, co-founder of Tornado Cash. More details are expected soon.
FTX Sets Next Creditor Payout for September
There’s good news for FTX creditors: the next batch of claim distributions will begin September 30, with August 15 set as the official record date.
A recent court ruling allowed the release of $1.9 billion in extra funds, bringing the total payout pool to $4.3 billion.
JPMorgan vs. Gemini Gets Personal
In an unusual move, JPMorgan reportedly halted Gemini’s onboarding process just days after Tyler Winklevoss criticized the bank’s fintech fee structures.
The spat stems from Winklevoss’s comments on Jamie Dimon, blaming the bank for hindering access to customer data via fees. Tensions between banks and crypto firms continue to rise.
Bottom Line
From billion-dollar Bitcoin buys to global enforcement crackdowns, this week in crypto was anything but quiet. Whether it’s institutional accumulation, hacker bounties, or governments getting smarter with surveillance the space is evolving fast, and the stakes are getting higher.
