News & Research

U.S.-based digital wallet company Lava Payments has raised $5.8 million in a seed funding round, according to FinSMEs. The round was led by Lerer Hippeau, with participation from Harlem Capital, Streamlined Ventures and Westbound, and the funds will be used to expand operations and develop its wallet-based payment platform for AI monetization.

El Salvador’s Bitcoin Office hinted at plans to launch Bitcoin-only banks, aiming to further integrate BTC into its financial system, according to BeInCrypto. While full details remain unknown, the initiative could involve legislation enabling banking services fully in Bitcoin. Senior adviser Max Keiser said Bitcoin is overtaking global stores of value and sidelining traditional financial institutions.

Chinese authorities have directed brokers to stop promoting stablecoins to domestic users, according to Bloomberg. The move aims to cool growing enthusiasm for digital assets, as China maintains its ban on crypto trading and mining since 2021.

Galaxy Asset Management, part of Galaxy Digital, will manage Mill City Ventures’ $450 million SUI treasury strategy, the largest in the public markets, according to a Business Wire press release. Mill City, a non-bank lending and specialty finance company, will gain institutional-grade execution, liquidity and customized staking strategies through the partnership. Galaxy Digital, also a major investor, participated in the private placement used to fund the initiative.

Solana-based memecoin launchpad Pump.fun has launched the Glass Full Foundation (GFF) to provide liquidity support for projects within its ecosystem, The Block reported. GFF has begun backing select tokens, though the team has not disclosed how the foundation is funded or the criteria for project selection.

Ethereum Foundation Co-Executive Director Tomasz K. Stańczak said on X that although the Glamsterdam upgrade, planned for the first half of 2026, is getting attention, a bigger concern is that the Fusaka upgrade, scheduled for the fourth quarter of 2025, could be delayed. He emphasized that Ethereum’s roadmap and vision mean little without the coordination needed to meet deadlines, noting that skilled teams are working to fix the issues behind the proposed changes and urging broad agreement that timelines are crucial.

Crypto exchange Binance has chosen Spanish bank BBVA as its custody provider, allowing it to hold user funds with BBVA in the form of U.S. Treasuries, according to the Financial Times. The exchange previously required clients to custody assets only with Binance or its subsidiary Ceffu but began allowing select large clients to use alternatives such as Switzerland’s Sygnum Bank and FlowBank early last year. Both Binance and BBVA declined to comment.

Animoca Brands has formed a joint venture (JV), Anchorpoint Financial, with Standard Chartered Bank Hong Kong (SCBHK) and telecom provider HKT to develop a regulated stablecoin business, according to a press release on its official website. The venture submitted its application for a stablecoin issuer license to the Hong Kong Monetary Authority on Aug. 1, the day the Stablecoins Ordinance took effect.

Here is the breakdown of crypto perpetual futures liquidation over the last 24 hours. - BTC: $53.67 million, Short 84.36% - ETH: $175.24 million, Short 87.83% - XRP: $24.36 million, Short 76.80%

Hsiao-Wei Wang, executive director of the Ethereum Foundation, said on X that the foundation will match up to $500,000 in community donations to support the legal defense of Tornado Cash co-founder Roman Storm. Storm is currently on trial facing charges including money laundering and sanctions violations.