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Bitcoin BIP-110 garners 1% miner support as Back rejects fork fears
Edgen Crypto·Jul 24 2026, 02:41Share to
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[1] Adam Back Rejects BIP-110 Fork Fears as Bitcoin Miner Support Remains Low (https://www.tokenpost.com/news/people/22303 ...)[2] Record 1.47% of All XRP Now Unavailable Due to ETF Rally; Grayscale Rejects 4-Year Cycle Theory for Bitcoin; Crypto Protocols Lose $35.56 Million in Three Back-to-Back Exploits - Morning Crypto Report (https://us.headtopics.com/news/record-1-47-of ...)[3] Adam Back Calls Bitcoin BIP-110 Idiocracy (https://tech.yahoo.com/general/articles/adam- ...)[4] Adam Back Talks About Bitcoin BIP-110 Controversy. “Satoshi Was Not Retarded” (https://finance.yahoo.com/markets/crypto/arti ...)
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Jul 24 2026, 02:47
Bitcoin slips below $65,000 as Trump's new global tariffs rattle markets
**The Trump administration's sweeping new tariff regime, covering 60 countries and more than 99% of US trade, pushed Bitcoin below the $65,000 threshold for the first time in a week.** Bitcoin fell 1.2% to $64,900 after the Trump administration unveiled tariffs of 10% to 12.5% on imports from 60 countries, effective July 24 at midnight Eastern Time. "The new Section 301 duties replace the temporary 10% global tariff that expires this week and target alleged forced-labor concerns across a broad range of imports," a senior US trade official said, speaking on condition of anonymity. The selloff extended a fragile recovery that had lifted Bitcoin roughly 13% from its late-June low near $58,000. On-chain data from Glassnode shows unrealized profit across the network collapsed from about $1.4 trillion at the October 2025 peak to roughly $400 billion by late June — the lowest reading of the cycle. While July brought some relief, with unrealized profit recovering to about $500 billion, the metric remains well below its spring high near $580 billion. The 30-day options delta skew on Deribit stood at 13% as of Monday, meaning put options continued to trade at a premium relative to calls as whales and market makers hedged for further downside. The $69,500 level — the short-term holder cost basis tracked by Glassnode — now represents the first major resistance for bulls to reclaim. A break above that threshold would return most recent buyers to profit, a shift that has historically marked the start of recovery phases. On the downside, the realized price of $52,900 serves as the last major on-chain support; losing it would signal a deeper bear market, with one projection pointing to a potential fourth-quarter bottom near $44,000. **$420 million in leverage unwound as funding rates turn neutral** The tariff announcement triggered a wave of liquidations across major exchanges. Open interest across Bitcoin futures fell as long positions were forced to unwind, with the perpetual futures annualized funding rate dropping to a neutral 8% — flat from a week earlier and well below the 12% threshold that indicates excessive demand for bullish leverage, according to Coinglass data. The muted funding rate suggests traders are reluctant to add directional bets while trade policy uncertainty persists. Spot demand tells a more concerning story. The 30-day sum of spot demand has remained negative all year and is now contracting by about 200,000 BTC per month, according to CryptoQuant. Total demand collapsed to nearly minus 550,000 BTC in early June, the worst reading of 2026. Rallies built on leverage without spot absorption have historically proven fragile. **Strategy and institutional players feel the pinch** Shares of Strategy, the largest corporate holder of Bitcoin, fell 4% in Thursday morning trading even as the company announced it had raised $263 million in cash through an at-the-market stock offering, easing near-term concerns about its ability to service its $1.76 billion annual dividend payout. The company also joined a consortium including BlackRock, Coinbase and Fidelity that committed $15 million over three years to fund Bitcoin developer research and post-quantum cryptography. The broader crypto market tracked Bitcoin lower. Ethereum fell 1.8% to $3,412, while the CoinDesk 20 Index declined 1.5%. Bitcoin's dominance rate edged up to 54.3%, reflecting the typical flight to relative safety during macro shocks. *This article is for informational purposes only and does not constitute investment advice.*
Jul 24 2026, 02:40
Empery Digital sells 1,400 BTC to back $20M AI data center play
About 1,400 bitcoin sold for $87.1 million funded Empery Digital's $20 million investment in an AI data center developer, shifting strategy for the Nasdaq-listed treasury firm. "This investment reflects the continued strength of our partnership with Hunt Properties and the differentiated investment opportunities this relationship is generating for Empery Digital shareholders," Ryan Lane, co-chief executive officer of Empery Digital, said. The $20 million preferred equity investment closed July 20 as part of Cardinal Data Power's roughly $70 million Series A round, giving Empery Digital about an 8% stake. CDP, affiliated with the Hunt family offices Cavallo Holdings and Stratford Bridge Holdings, is developing a 750-megawatt Phase I data center campus in West Texas with first power targeted for 2027 and expansion potential beyond 5 gigawatts. The move offers a potential template for bitcoin-heavy balance sheets: selling digital assets to fund infrastructure investments in the AI compute sector. Empery Digital's bitcoin holdings fell to 1,514 BTC after the two-month selling campaign, according to company disclosures. CDP focuses on behind-the-meter data center projects, combining secured generation equipment, natural gas supply and electrical infrastructure to deliver large-scale power on accelerated timelines. The company has reserved supply of reciprocating engine generation capacity from a leading OEM through an agreement with an independent power producer, according to the announcement. The Series A was led by Hood River Capital Management and included several strategic and financial backers. Empery Digital's two-month selling campaign, which raised $87.1 million, reduced its bitcoin reserves by nearly half. The company now holds 1,514 BTC, down from about 2,914 BTC before the sales began. The firm did not disclose the average price at which it sold the bitcoin. The investment marks a departure from the pure bitcoin treasury model embraced by companies such as MicroStrategy Inc., which continues to accumulate bitcoin without selling. Other firms are exploring hybrid approaches: last week, analyst Lyn Alden co-founded Orange Juice HODLINGS, a permanent-capital holding company backed by Mexican billionaire Ricardo Salinas that launched with $40 million to acquire businesses while using bitcoin as its treasury reserve asset, according to BitcoinTreasuries.NET. For Empery Digital, the CDP stake provides exposure to the surging demand for AI computing infrastructure. The West Texas campus is the first in CDP's development pipeline, with several other large-scale projects in various stages of development. The company said it plans to continue pursuing hyperscaler-anchored opportunities at the intersection of digital assets and next-generation compute. This article is for informational purposes only and does not constitute investment advice.
Jul 24 2026, 02:37
Stripe's $53B PayPal bid reshapes stablecoin market for crypto
**Stripe's proposed $53 billion acquisition of PayPal would create the largest stablecoin distribution network in crypto.** Stripe and Advent International's $53.4 billion bid for PayPal would combine Stripe's 4 million merchants with PayPal's 439 million active accounts, creating a stablecoin distribution network that could reshape how digital dollars flow through the global economy. "The combination would give Stripe something it cannot buy outright — consumers," Alex Carchidi, a crypto analyst at The Motley Fool, said. "PayPal's 439 million accounts represent the largest non-crypto-native stablecoin distribution channel ever built." Stripe generated $3.2 billion in free cash flow last year, up 52%, on revenue of $6.8 billion. Its Tempo blockchain, launched March 18, processes stablecoin transactions with minimal fees and carries no native token. PayPal's PYUSD stablecoin has a $2.7 billion market cap, with Solana as its default payment network since February. The combined entity would control roughly 60% of the $400 billion in annual B2B stablecoin transaction volume, according to Stripe's disclosures. The deal's outcome will determine which blockchain networks capture the next wave of institutional stablecoin flows. A merged Stripe-PayPal could steer capital toward its own Tempo rail, starving chains like Tron of new volume, while Solana's position remains hedged through its existing PYUSD integration. ## Tempo, PYUSD, and the Race for Stablecoin Rails Stripe's acquisition of Bridge, a stablecoin infrastructure provider, for $1.1 billion and its partnership with Paradigm on Tempo signal a deliberate strategy to own the payment stack for digital dollars. On June 30, more than 140 organizations including Stripe, Visa, and Coinbase announced Open USD, a consortium-backed stablecoin launching natively on Solana that shares reserve yield with partners rather than pocketing it. PayPal's board rejected the $60.50-per-share offer on July 20, calling it too low. Stripe and Advent are weighing whether to raise their bid or walk away, according to The Wall Street Journal. PYPL stock slipped about 2% in after-hours trading following the rejection. ## Winners and Losers Among Blockchain Networks The merger would carry immediate consequences for specific tokens. XRP's original use case — efficient cross-border transfers — faces direct competition from Tempo's stablecoin rail, which targets the same enterprise customers with orders-of-magnitude greater consumer reach. Ripple's own Ripple USD is already cannibalizing XRP's institutional pitch. Solana faces a more nuanced outcome. If the merged entity steers stablecoin flows away from Solana toward Tempo, the network loses share of a fast-growing category. But if Stripe uses Solana as the rail to reach PayPal's consumers, capital stays on the chain. Solana's diversified ecosystem, including tokenized stocks and DeFi, provides a buffer either way. Tron, which depends heavily on stablecoin transfer volume, faces the most existential threat. A Stripe-PayPal entity with Tempo as its primary settlement rail could permanently divert new capital away from the network. This article is for informational purposes only and does not constitute investment advice.