CryptoCalibur

October Weekly Update #1 September 28th to October 4th Recap ▫️Strategy acquired 1,665 BTC ($143M) & repurchased $152M of STRC ▫️Bitget started phased withdrawal resumption following $388M exploit ▫️SEC proposes a new rule for investment funds holding crypto, which includes allowing self-custody under certain conditions ▫️Tether announced it has supported nearly $550M in Iran-linked USDT freezes as U.S. expanded sanctions campaign ▫️California's Newsom signed memecoin ban, calling it 'The Opposite of Trump' ▫️Data from Glassnode showed that this is the 1st BTC bear market that never closed below Realized Price (~$50k), meaning the average holder stayed in profit the entire time ▫️House Oversight Committee expanded prediction market insider trading probe to HYPE & Crypto .com ▫️Onchain analyst linked $18.4M in Robinhood Chain memecoin extractions to single rug-pull operation ▫️Coinbase received CFTC approval for its own derivatives clearing house ▫️NEAR Intents halted services after $3.8M bug exploit, pledged full user compensation ▫️Bitwise launched 1st US spot NEAR ETF ▫️Kalshi entered advanced talks to raise $1b in fresh funding ▫️Bitmine acquired 15,112 ETH worth over $41M taking total holdings to 6.02M ETH & $17.4B of crypto + cash ▫️Data from Bloomberg showed that crypto perp futures OI has surged to nearly $160B, marking an 11-month high not seen since late October of last year ▫️Base launched Cobalt upgrade with conditional transactions and new B20 asset functions ▫️Data from a16z crypto showed that onchain venues dominated RWA perp trading by August 2026, processing 86% ($101B ) of total volume compared to CEXs ▫️Data from Coingecko showed that HYPE leads as the top on-chain revenue generator of 2026, generating $429.04M YTD ▫️HYPE crossed $7B in TVL for the 1st time ▫️Vitalik Buterin mapped ETH's path to 2030 as ETH staking reward burn proposal EIP-8363 pulled from Hegota upgrade & Ethereum Foundation launched zkAPI to let users pay for AI models without revealing identity ⏫ Bitcoin Weekly High: $86,884 ⬇️ Bitcoin Weekly Low: $82,614 ⏫ Ethereum Weekly High: $2,765 ⬇️ Ethereum Weekly Low: $2,639 October 5th to 11th Upcoming Events October 5th - HYPE, $340M token unlock 🔓 October 7 to 8 - TOKEN2049 Singapore 2026 🇸🇬 *Nota Bene Crypto markets essentially remained flat over the week, with BTC eking out a modest 0.3% WoW gain to close around $85,312, while ETH slipped 0.4% to $2,699. However, the week was anything but uneventful under the surface. The standout macro catalyst was a weaker-than-expected US jobs print that briefly propelled BTC to $87,800 as bond yields fell, sparking over $120M in short liquidations before overhead resistance reasserted itself. On the altcoin side, QNT surged 61% WoW, while AAVE added 16%, ZEC was the notable loser, shedding 20%. US BTC ETFs snapped a run of outflows as they recorded $241.1M in net inflows over the week as $292.6M came in across October 1st & 2nd, providing an encouraging signal as the market enters a historically favorable month. However, US ETH ETFs saw $138.1M worth of outflows. Regulatory & macro threads continued to dominate the broader narrative, with the Trump administration's appointment of Jay Clayton to lead the new Super Intelligence Force adding another layer of Washington's deepening entanglement with both AI & crypto. The Bitget hack's attribution to North Korea & Japan's Garantex sanctions both serve as reminders that illicit financial pressures on the space remain acute. Looking into next week, with no major crypto-specific catalysts listed & BTC stalling just below the $88K resistance zone, price action will likely be dictated by macro data & whether institutional ETF inflows can sustain their early October momentum to push BTC toward a decisive breakout.

September Weekly Update #4 September 21st to 27th Recap ▫️Strategy acquired 950 BTC ($76M) & repurchased $174M of STRC ▫️Bitget hacked for approximately $351.6M, user assets covered by protection fund ▫️New York sued Polymarket, alleging it ran illegal gambling operation ▫️US weighed up initiative to promote dollar-backed stablecoin usage abroad ▫️Fed proposed new capital, redemption rules for stablecoin issuers under GENIUS Act ▫️Strive acquired 1,355 BTC for $107.7M as total holdings reach 26,355 BTC ▫️U.S. Appeals Court ruled against Kalshi, saying states can regulate its event contracts, court ruling showed ▫️Data from River showed that individuals added over 107K BTC in Q3 2026 so far, fastest pace in years ▫️X partnered with Gemini, Kraken, Coinbase, & Interactive Brokers for US in-app crypto & stock trading ▫️ZetaChain voted to shut down Layer 1 network & move ZETA to SOL ▫️KelpDAO sued LayerZero, claiming it endorsed setup used in $292M rsETH exploit ▫️Crypto VC Hashed anchored new digital asset private credit fund targeting $300M ▫️Binance invested $100M in Circle, expanding stablecoin partnership ▫️MoonPay announced acquisition of SEC-registered North Capital in $60M all-stock deal ▫️HIFI raised $37M Series A to expand tokenized capital markets infrastructure ▫️Bitmine acquired 17,362 ETH worth over $46M taking total holdings to 6M ETH & $17.2B of crypto + cash ▫️Data from DeFi Llama showed that onchain RWA Perps have grown from barely existent to over $4B in OI this year ▫️HYPE's monthly active addresses reached a new ATH of 291.9K ⏫ Bitcoin Weekly High: $87,243 ⬇️ Bitcoin Weekly Low: $83,001 ⏫ Ethereum Weekly High: $2,784 ⬇️ Ethereum Weekly Low: $2,635 September 28th to October 4th Upcoming Events September 29 to Oct 1st - Korea Blockchain Week 2026 🇰🇷 October 2 - SEC Commissioner Hester Peirce departs post 🇺🇸 *Nota Bene Crypto markets posted a strong week across the board, with BTC climbing 5.0% WoW to $84,427 at the time of writing & ETH following closely with a 4.2% gain to $2,690, as the broader market shook off the turbulence that followed the CLARITY Act's Senate failure. The real fireworks were in altcoins, with SUI leading the charge at +51% WoW, NEAR surging 41%, BCH up 35%, LTC adding 24%, & LINK rising 16%, a rotation into alts that historically signals improving risk appetite. Institutional momentum reinforced the move, with US BTC ETFs recording inflows worth $2.3B, notching a seven-day inflow streak totaling nearly $3B & pushing 2026 net flows back into positive territory, a notable reversal after weeks of post-CLARITY Act selling pressure. US ETH ETFs mirrored the sentiment shift recording inflows worth $689.8M. On the regulatory front, the death of the CLARITY Act in the Senate paradoxically accelerated rulemaking, as the SEC, CFTC, & Fed each moved to fill the vacuum with their own guidance, a dynamic the market appears to be reading as clarity by another name. The Bitget hack, now confirmed at $352M & preliminarily attributed to North Korea-linked actors, cast a shadow over exchange security broadly, while the stablecoin freeze response locking only ~$318K as the bulk escaped into ETH, reignited debate around on-chain incident response capabilities. Looking into next week, the absence of major scheduled catalysts puts the focus squarely on whether altcoin momentum can hold & how markets digest the post-CLARITY regulatory landscape as Hester Peirce's departure from the SEC on October 2nd removes one of crypto's most consistent institutional advocates from the table.

September Weekly Update #3 September 14th to 20th Recap ▫️Strategy repurchased $139M of STRC, made no BTC purchases or sales ▫️US Clarity Act failed to get 60 votes required to advance to next stage ▫️US House panel approved 1st federal crypto tax framework, 1 day after Senate’s Clarity Act stumbled ▫️SEC approved temporary, conditional exemption to allow limited trading of tokenized stocks onchain ▫️DOJ said millions in Iranian oil proceeds laundered on Binance as US sanctioned Iran's BitBank exchange over alleged BTC transfers to IRGC ▫️Robinhood employees charged with commodities fraud for insider trading on HYPE ▫️Data from River showed that as of August 2026, BTC represents 0.5% of the world’s financial assets ▫️CoinEx exchange announced shut down after 9 years operation, citing market slump ▫️Circle launched Arc mainnet with BlackRock & Visa among validators, minted 10B ARC tokens ▫️Kraken parent Payward announced plan to bring onchain perpetual futures to US clients, starting with HYPE ▫️S&P Global announced agreement to acquire OpenZeppelin ▫️Stablecoin payments firm dtcpay closed $25M Series A with SBI Group investment ▫️Bitmine acquired 27,562 ETH worth over $74M taking total holdings to 5.98M ETH & $17.1B of crypto + cash ▫️Data from a16z crypto showed that over $35B in traditional assets live onchain, not counting stablecoins. Almost 3x more than when GENIUS passed 1 year ago ▫️Data from The Block showed that stablecoin market cap on Robinhood Chain crossed $1B, with USDG accounting for 67% of the total, Ethena’s USDe sits behind it with ~30% ▫️Base DeFi TVL hit a new ATH of $5.7B ⏫ Bitcoin Weekly High: $81,789 ⬇️ Bitcoin Weekly Low: $75,464 ⏫ Ethereum Weekly High: $2,647 ⬇️ Ethereum Weekly Low: $2,384 September 21th to 27th Upcoming Events September 23 -BitMEX shuts down all operations 🛑 September 25 to 29 - Balancer Wind Down Governance Vote 🗳 September 25 - XPL, $152M token unlock 🔓 September 25 - H, $10M token unlock 🔓 *Nota Bene Crypto markets showed signs of positivity over the week, with BTC gaining approximately 5.7% WoW, rising from around $76k to end up sitting at $81k. BTC showed strong upward momentum despite a mid-week Federal Reserve rate hike. A 2 -week high was hit on Friday, surpassing the psychologically important $80k level as US spot ETF inflows & short covering drove the rally. The broader crypto market followed suit. US BTC ETFs saw modest inflows worth $6.1M over the week, however, the early sell offs were overcome as $592.5M of buys came in on Thursday & Friday. US ETH ETFs were unable to repeat the feat & recorded $140.6M in net outflows. This all took place as the FED raised interest rates by 25 basis points to 3.75%-4% on Wednesday, the 1st hike in 3 years, sending the Dow down 600 points. Global oil prices exceeded $100/barrel amid Middle East shipping attacks & Iran conflict escalation. Anticipation of a Trump-Xi summit may have also provided some market stabilization, while bond yields hovered near 5%. Looking into next week, the Trump-Xi White House summit outcomes on trade relations, as well as US-Iran diplomatic progress are worth keeping an eye on. Any major developments stemming form either has the potential to move markets in both directions, however, some analysts are outlining that the discussions may signal potentially more positive outcomes.

September Weekly Update #2 September 7th to 13th Recap ▫️Strategy repurchased $176M of STRC & increased Digital Credit Securities repurchase program to $2B ▫️Ethereum giant Consensys announced rebrand as Metamask alongside creation of a new, separate corporate entity ▫️Jack Dorsey’s Block applied to the OCC for a national trust-bank charter to custody BTC & stablecoins ▫️Germany moved to end tax free crypto gains, planned 25% tax from 2027 ▫️Strive acquired 1,375 BTC for $109M as total holdings reached 24,531 BTC ▫️Researchers halved the quantum resource benchmark for key operation in BTC or ETH attack ▫️Harmony announced full Layer 1 sunset & proposed token migration to ETH ▫️Coinbase-backed Router Protocol announced shut down & 303M ROUTE token burn ▫️ Bitwise shut down Dogecoin ETF less than a year after launch ▫️Circle agreed to buy cross-border payments firm Tazapay for $400M ▫️Nasdaq invested $100M in Kraken parent Payward at $21B valuation ▫️Robinhood struck multi-year prediction markets deal with crypto .com ▫️Bitmine acquired 27,180 ETH worth over $68M taking total holdings to 5.96M ETH & $15.8B of crypto + cash ▫️Data from Kaiko showed that USDT & USDC now hold 94% of the leading stablecoins in circulation ▫️Crypto projects revealed to have spent $638M on token buybacks this year with HYPE & Pumpfun accounting for nearly 90% of repurchases ▫️Data from Messari showed that the single most concentrated position in crypto staking is the Hyper Foundation, which holds 48.8% of staked HYPE ▫️ETH committed to letting users pay gas fees without having to hold ETH & aimed for quantum-safe L1 by 2029 as Hegotá upgrade takes form ⏫ Bitcoin Weekly High: $80,086 ⬇️ Bitcoin Weekly Low: $76,612 ⏫ Ethereum Weekly High: $2,627 ⬇️ Ethereum Weekly Low: $2,409 September 14th to 20th Upcoming Events September 15 - US Senate Vote on Clarity Act 🇺🇸 September 16 - US Interest Rate Announcement 🇺🇸 September 16 - ARB, $14M token unlock 🔓 September 20 - ZRO, $25M token unlock 🔓 *Nota Bene Crypto markets gave back recent gains over the week, with BTC sliding 3.1% WoW to $76,475 as a confluence of macro & regulatory headwinds weighed heavily on sentiment with the price briefly dipping to a $75.6K September low on certain exchanges. The primary selloff driver was mounting uncertainty around the Senate CLARITY Act procedural vote, with passage odds crashing to 16% after Democrats submitted a last-minute counterproposal, pushing back on ethics provisions & stablecoin reward loopholes that banking trade groups also flagged as too permissive. The political gridlock, combined with global bond yields hitting multi-decade highs, created a classic risk-off environment that also dragged ETH down 3.0% WoW to $2,424. However, a late-week bounce toward $79K emerged after President Trump signaled the US-Iran war could be nearing an end, pulling oil prices lower & briefly restoring risk appetite. The ETF picture was notably split; US BTC ETFs saw $463M in net outflows led by ARKB, GBTC, and IBIT, while US ETH ETFs recorded $197M in net inflows, a divergence worth watching as it suggests some rotation into ETH-denominated products even amid broader weakness. Looking into next week, the Fed rate decision & the ultimate fate of the CLARITY Act remain the dominant catalysts, a surprise pass of the stablecoin bill or a dovish Fed pivot could provide the spark for a meaningful relief rally, while continued legislative failure & sticky yields keep downside risk firmly on the table.

September Weekly Update #1 August 31st to September 6th Recap ▫️Strategy acquired an additional 4,603 BTC for $369.7M at $80,318 per BTC ▫️SEC sought to update its 1970s-era transfer agent rules for the blockchain age ▫️Revolut & OpenReserve received prelim OCC national bank approval with cryptocurrency/stablecoin services planned ▫️Data from Grayscale showed that BTC's correlation with the Nasdaq has fallen to around 33% from above 60%, while its correlation with gold has risen above 50% ▫️Strive acquired 1,800 BTC for $143M as total holdings reached 23,156 BTC ▫️London Stock Exchange announced Payward partnership & tokenised stocks launch plan in digital markets push ▫️Crypto .com-linked Cronos network halted after Tectonic exploit estimated at $75M ▫️Trezor disclosed additional data breach affecting 67K US customers via its shipping provider ▫️ Polymarket launched crypto perpetual futures offering up to 20x leverage on up to 67 markets ▫️Hyperliquid Strategies expanded equity facility to $2.5B from $1B ▫️Kraken parent Payward delayed IPO to second quarter of 2027 at earliest ▫️Bitfinex Securities listed 5 tokenised BTC treasury company products ▫️Bitmine acquired 28,086 ETH worth over $70M taking total holdings to 5.93M ETH & $15.7B of crypto + cash ▫️Data from RWA xyz showed that tokenized RWAs have reached $7.4B in on-chain deposits while the broader DeFi market contracted 15% ▫️Data from DefiLlama showed that August closed as the highest DEX volume month since March, with TVL up more than $18B from its June low ⏫ Bitcoin Weekly High: $81,749 ⬇️ Bitcoin Weekly Low: $76,693 ⏫ Ethereum Weekly High: $2,553 ⬇️ Ethereum Weekly Low: $2,511 September 7th to 13th Upcoming Events September 11 - US Inflation Announcement 🇺🇸 *Nota Bene Crypto markets edged higher this past week in a relatively muted fashion with BTC closing up 1.3% WoW at $79,807 & ETH posting a near-identical 1.0% gain to $2,493. Altcoin performance was considerably more dramatic, with ZEC surging 39% WoW, UNI up 34%, & NEAR gaining 31%, suggesting rotation into higher-beta names as BTC stabilized. On the institutional flow side, the story was decidedly bullish, with US BTC ETFs pulling in roughly $1B over the week as part of what is being called the strongest three-week inflow stretch of 2026, including a single-day haul of $731M on Thursday. US ETH ETFs saw $215M worth of inflows across the 5 day week. The headline macro story was a stronger-than-expected August employment announcement that briefly knocked BTC below $79K & pushed back Fed rate cut expectations for September. Only for a suspected Bank of Japan yen intervention to weaken the dollar & hand BTC a swift 5% recovery back above $80K. A clean illustration of just how macro-tethered this market remains. The regulatory thread continued to develop constructively, with the National Sheriffs' Association stepping back from its opposition to the CLARITY Act with both Revolut & OpenReserve receiving preliminary OCC bank charters. Looking into next week, with no major scheduled macro catalysts in the brief & BTC sitting just below the technically significant $80K level, price action is likely to stay choppy, with the Fed's September rate decision narrative alongside any further movement on the CLARITY Act serving as the primary things to watch.

August Weekly Update #5 August 24th to 30th Recap ▫️Strategy sold $2B in MSTR shares, made no BTC purchases & established $1.6B USD cash pool ▫️SEC prepped overhaul of crypto custody rules for investment firms ▫️Trump family's new crypto bank revealed to be backed by Abu Dhabi Sheikh ▫️Charles Schwab announced that Schwab Crypto clients will soon be able to buy & sell SOL, AVAX, & LINK ▫️Revolut launched euro-backed token EURR across 3 markets ▫️Unstoppable Domains dropped $2M plan to bring .crypto and .bitcoin to standard internet ▫️Tornado Cash developer Roman Storm’s retrial pushed back to April 2027 ▫️Grayscale debuted 1st Zcash ETF ▫️ETH lending app Term Finance lost $8.5M after attacker bought voting power ▫️Japan's SBI bought 20% stake in Indonesia's Ajaib for $270M to expand yen stablecoin in Southeast Asia ▫️Bitfinex Securities raised $50M for tokenized nickel company Alkemya ▫️DeFi Development Corp resumed SOL purchases, acquiring nearly 20,000 SOL ▫️Bitmine acquired 53,501 ETH worth over $134M taking total holdings to 5.9M ETH & $15.6B of crypto + cash ▫️Data from Artemis showed that in July, the share of RWA volume on HYPE exceeded 50% of the total volume ▫️Uniswap hit a new ATH with 28.9M swaps through the protocol ▫️Data from Token Terminal showed that app TVL on Robinhood Chain surpassed $1B, up by ~100% over the past month with the leading apps by TVL consisting of lending, spot, & perp DEXs ▫️ETH developers proposed 1st step to protect ETH staking from quantum attacks ⏫ Bitcoin Weekly High: $81,051 ⬇️ Bitcoin Weekly Low: $76,110 ⏫ Ethereum Weekly High: $2,553 ⬇️ Ethereum Weekly Low: $2,422 August 31st to September 6th Upcoming Events August 31 - SUI, $10M token unlock 🔓 September 4 - ENA, $27M token unlock 🔓 September 6 - HYPE, $35M token unlock 🔓 *Nota Bene Crypto markets largely tread water this past week, with BTC eking out a modest 0.8% WoW gain to close around $77,654. ETH barely moved at +0.1% to $2,421 as the broader market digested a cautious tone out of Jackson Hole where Fed Chair Kevin Warsh pushed back on the idea that softer inflation prints warranted any pivot. The standout mover of the week was RAIN, up 21% WoW, while ENA caught a bid after Ethena's proposed fee switch targeting 95% of net protocol revenue for buybacks got the market's attention. US BTC ETFs saw inflows worth $924.5M, however, Friday's $201.9M in net outflows snapped a 9-day inflow streak & pulled total fund assets back below $100B. ETH ETFs managed to extend their own run of positive flows with $815.7M worth of inflows . On the regulatory front, the California Senate's memecoin ban & the Trump-linked GOLD token's near-total collapse served as twin reminders that political crypto ventures remain a live risk, while the BIS chief's public skepticism toward stablecoins at scale adds another layer of regulatory overhang for the sector. The tokenization narrative continued to build quietly in the background, with Stellar's RWA market surpassing $4B & tokenized stock transfer volumes spiking 415% month-over-month. Looking ahead, with no major macro prints or crypto catalysts confirmed for the coming week, price action is likely to remain rangebound near current levels, though any fresh signals from Strategy on resuming BTC purchases or further Fed commentary on inflation could quickly shift the tone.

August Weekly Update #4 August 17th to 23rd Recap ▫️Strategy sold $334M in MSTR shares, made no BTC purchases or sales as USD reserve hit $4.8B ▫️U.S. Treasury Department proposed GENIUS Act stablecoin rule ▫️Elon Musk's X began exploring stablecoins to pay influencers & content providers ▫️Arkham Intel & River estimated that 46% of all BTC is held in self-custody ▫️Data from a16z crypto showed that monthly crypto payment card volume reached $759M in July, up (roughly 2.5x) from $306M a year earlier ▫️Ex-FTX, Alameda executives Caroline Ellison & Gary Wang, received 5-year trading bans in CFTC case ▫️Maya Protocol exploit drained BTC & other assets as pool value dropped $11M ▫️Harmony planned pre-attack rollback after exploiter forged 3 trillion ONE tokens ▫️MANTRA froze all transactions & network following unspecified incident ▫️Ripple raised $275M in senior notes for prime brokerage arm ▫️Metaplanet announced launch of U.S. BTC treasury company via $135M nanocap deal ▫️Bitmine acquired 32,447 ETH worth over $79M taking total holdings to 5.85M ETH & $14.9B of crypto + cash ▫️Data from Delphi Digital showed that curated lending vaults now hold around ~$9B with Steakhouse, Sentora & Gauntlet representing ~$6.8B of that total ▫️Compound approved $52M budget amid leadership team switch in pivot to institutional focus ▫️Data from Galaxy Research showed that SOL's Q2 2026 network fees fell 44% quarter-over-quarter, dropping to about 6% of its late 2024/early 2025 peak due to a cooldown in memecoin activity & MEV extraction ▫️Data from Token Terminal showed that Ondo Finance ranked 1st in tokenized stock market cap growth over the past year (+$951.3M), followed by Binance bStocks (+$672.2M) & xStocks (+$547.3M) ▫️Data from the Block showed that the DEX to CEX spot trade volume closed July at a new ATH of 24% as CEX volumes sank ⏫ Bitcoin Weekly High: $79,244 ⬇️ Bitcoin Weekly Low: $62,819 ⏫ Ethereum Weekly High: $2,541 ⬇️ Ethereum Weekly Low: $1,877 August 24th to 30th Upcoming Events August 25 - H, $20M token unlock 🔓 August 26 - BitMart suspends trading services 🚫 *Nota Bene Crypto markets staged an historic comeback this past week, with BTC surging 22.5% WoW to trade at $78,744 at the time of writing. This is after briefly touching the $80K mark & closing what some analysts called the largest weekly candle in BTC's history by notional value. The rally was broad & decisive, with ETH up 30% WoW, while XRP posted a stunning 48% gain. SOL, HYPE, & BNB all logging outsized moves suggested this was not a BTC only event but a full risk-on rotation back into digital assets. The macro backdrop was a clear accelerant, as expanding US Treasury bond buybacks weakened the dollar as Ray Dalio's public endorsement of BTC & gold over bonds amid a looming US debt crisis added institutional credibility to the move. Institutional demand confirmed the sentiment shift in no uncertain terms as US BTC ETFs saw $1.92B in net inflows, their strongest week since October 2025. US ETH ETFs also participated in the surge as they experienced $692.6M worth of inflows with BTC & ETH ETF AUM growing by a combined $23B over the week, however, only $2.6B of that represented fresh capital with the remainder driven by price appreciation. On the technical side, BTC's reclaim of the 50-week EMA for the 1st time since late 2025 is a meaningful signal that the bear-market structure may be breaking down. Heading into next week, all eyes will be on whether BTC can hold above $77K-$78K as support & sustain its momentum through the Jackson Hole symposium, with any Fed commentary on rates & fiscal policy likely to serve as the primary directional catalyst.

August Weekly Update #3 August 10th to 16th Recap ▫️Strategy sold 1,690 BTC for $108.6M as USD reserve hit $4.65B ▫️SEC began drawing up major crypto plans as Clarity Act stalled ▫️CFTC ordered Kalshi to continue offering prediction markets in New York after state lawsuit ▫️Adam Back-backed H100 more than 3x'd BTC holdings to 3,506 BTC in acquisition deal ▫️World Liberty Financial received conditional bank charter for USD1 stablecoin ▫️Tether completed its 1st full financial audit, with KPMG U.S. issuing an unqualified clean opinion, marking the highest possible result ▫️CFTC charged Christopher Delgado of Goliath Ventures Inc. over $397M crypto Ponzi scheme ▫️SOL narrowly avoided network halt as routing failure knocked out 29% of staked tokens ▫️Harmony’s ONE dived 40% after an attack appeared to mint tokens equal to 25% of supply ▫️Data from Bitwise showed that public companies held 1.28M BTC ($76B) as of June 30, 2026, around 6.11% of total supply. Strategy remained the largest holder with 846,842 BTC ▫️Data from RWA xyz showed that the share of tokenized stocks in the RWA market cap climbed from ~1.4% to over 15% YoY (July 2025 to July 2026) ▫️Goldman Sachs agreed to $2.25B Neos acquisition, gaining BTC & ETH income ETFs ▫️Bitmine acquired 9,926 ETH worth over $18.7M taking total holdings to 5.82M ETH & $11.4B of crypto + cash ▫️Non-USD stablecoins shown to have grown 50× since 2020, from $44M to $2.2B, now sitting at ATHs ▫️Data from DeFiLlama showed that HYPE protocol TVL recovered to ~$6B in July, while stablecoin balances surpassed $6B ▫️Total weekly txs on SOL for the week of July 27 – Aug 2 was confirmed to have exceeded 1 billion, reaching a new ATH ▫️Data from Token Terminal showed that 34.4% of ETH is now staked, the highest level on record, after increasing from 30.0% at the start of the year ▫️BTC mining difficulty fell -18.5% from its peak, the biggest such drawdown since the 2021 “China ban” ▫️Vitalik Buterin placed privacy & quantum resistance front & center in ETH's latest roadmap ⏫ Bitcoin Weekly High: $65,200 ⬇️ Bitcoin Weekly Low: $62,562 ⏫ Ethereum Weekly High: $1,926 ⬇️ Ethereum Weekly Low: $1,861 August 17th to 23rd Upcoming Events August 19 - Kalshi's Washington geofencing deadline🇺🇸 August 20 to 21 - Coinfest Asia 2026 in Bali 🇮🇩 August 20 - ZRO, $20M token unlock 🔓 August 20 - KAITO, $11M token unlock 🔓 *Nota Bene Crypto markets faced a rough week, with BTC closing 3.2% down WoW at $63,102 at the time of writing. ETH shed a more modest 2.0% to $1,884, while UNI stood out as the week's notable laggard with an 18% decline. These declines took place as traders flagged the weekly BTC close as a potential trigger for further downside, this despite US inflation trends continuing to print constructively & equities circling ATHs. US BTC ETFs saw outflows worth $385.2M while US ETH ETFs saw outflows of $3M, finally breaking their 5 week inflow streak. The regulatory backdrop remained a meaningful headwind, with the SEC canceling its crypto offering rules meeting following the Senate's departure for recess & Galaxy slashing CLARITY Act odds to just 10%, citing a narrow legislative window, unresolved stablecoin yield & developer protection disputes. On the institutional side, however, the picture was more encouraging as JPMorgan & Morgan Stanley both disclosed meaningfully larger ETF positions in their Q2 filings. Heading into next week, with no major crypto-specific catalysts on the calendar & BTC technically vulnerable beneath the $63K level, the path of least resistance remains to the downside unless macro data or a surprise institutional flow reversal provides a floor.

August Weekly Update #2 August 3rd to 9th Recap ▫️Strategy sold 1,638 BTC for $105M, reducing total holdings to 842,138 BTC ▫️U.S .Senate delayed Clarity Act vote until after August recess ▫️Putin signed landmark crypto law allowing regulated retail trading in Russia ▫️Trump Media unwound Crypto dot com deals ▫️Bybit sued North Korea & Lazarus Group over $1.5B hack, secured asset freeze ▫️BTCPay restricted Lightning node access after attackers drained funds ▫️BlackRock launched tokenized share classes for select European money market funds with $311B in assets ▫️Binance claimed RedotPay diverted users in $470M lawsuit ▫️Data from Bitwise showed that The U.S. holds the largest national BTC reserves at 328,372 BTC ($19.8B), followed by the UK with 61,245 BTC, & UAE with 20,703 ▫️BlackRock’s spot ETH ETF confirmed to undergo 1-for-3 reverse share split in October ▫️Data from Messari showed that consumer & finance apps now account for over 70% of onchain revenue with 25% coming from blockchains ▫️Stablecoin infrastructure provider Yellow Card closed $40M funding round, with investment from SC Ventures, Polychain Capital & Blockchain Capital ▫️Bitmine acquired 7,391 ETH worth over $14.2M taking total holdings to 5.81M ETH & $11.6B of crypto + cash ▫️Data from Binance Research showed that DAT companies have flipped spot ETFs as the larger holder of ETH, Bitmine accounts for close to 5% of ETH supply, while ETFs/DATs together hold close to 11% ▫️Data from The Block showed that TVL in ETH Layer 2 networks has slid back to roughly $5B, a level last seen in 2023 ▫️Data from DefiLlama showed that perp DEX average daily vol fell 34% (from $32.4B to $21.4B) while open interest fell just 10% (from $16.4B to $14.8B) when comparing consecutive 6 month periods ▫️ETH researchers proposed burning validator rewards to cap staking at 50% ⏫ Bitcoin Weekly High: $65,236 ⬇️ Bitcoin Weekly Low: $62,453 ⏫ Ethereum Weekly High: $1,933 ⬇️ Ethereum Weekly Low: $1,841 August 10th to 16th Upcoming Events August 12 - US Inflation Announcement🇺🇸 August 15 - CONX, $10M token unlock 🔓 *Nota Bene Crypto markets essentially traded flat this past week, with BTC eking out a modest 0.2% gain WoW moving to $64,010. While ETH made a near-identical 0.4% move to $1,877, this was as the market digested a confluence of macro & regulatory headwinds. The dominant macro thread was another setback on the Strait of Hormuz front, with Iran deflating hopes of a reopening & triggering an oil spike north of 5% that rattled both equities & crypto before a weekend recovery pushed BTC to an August high of $65k. Against this backdrop, institutional demand was notably resilient, with US spot BTC ETFs recording over $865M in net inflows for the week, their best performance since April. US ETH ETFs recorded inflows worth $243.7M to extend their current inflow streak. On the regulatory front, the CLARITY Act delay drew sharp criticism from industry advocates, though Senate Majority Leader Thune's cloture filing puts a September vote on the calendar. The BIP-110 enforcing fork died quietly with under 3% miner support, closing out a governance episode that generated considerably more noise than hashpower. Looking into next week, the primary catalysts to watch are the incoming US CPI print & any further developments out of the Middle East, with the Hormuz situation remaining the single largest macro variable capable of moving crypto in either direction from its current range-bound position.

August Weekly Update #1 July 27th to August 2nd Recap ▫️Strategy increased USD reserve by $525M; achieved 2.1 years of dividend coverage; holds BTC reserve of 843,775 & USD reserve of $3.75B ▫️U.S. sanctioned Iran-linked BTC insurance scheme for Strait of Hormuz ships ▫️‘Funds may be at risk’: Coinkite issued warning for Coldcard Mk3 users amid 594 BTC theft reports as Galaxy Research said loses grew to over $70M ▫️New York sued Kalshi over illegal gambling claims, seeks $36B in damages ▫️Russia charged Telegram founder Pavel Durov with aiding terrorism, issued arrest warrant as Telegram faced terror-related legal action in Australia the day after ▫️Tether posted $1.5B Q2 2026 net operating profit, maintained $4.11B reserve buffer, & expanded gold holdings to over 146 tons ▫️Strategy posted $8.2B loss as BTC holdings increased 11% over Q2 ▫️Circle secured NYDFS trust charter, adding state layer to federal USDC oversight ▫️Cloud data firm Storj filed for Chapter 11, token slid 16% ▫️Data from River showed that U.S. public companies hold 1.24M BTC, or 92.7% of all BTC held by public companies worldwide. US companies added 510k BTC in the past 12 months, more than 3x the supply of BTC mined over the same period ▫️Crypto VC deal count slumped to 5 year low as investors grow more selective ▫️Bitmine acquired 10,399 ETH worth over $19.5M taking total holdings to 5.8M ETH & $11.3B of crypto + cash ▫️Lido began moving $16.5B in staked ETH to cut validator count by a third ▫️Data from Token Terminal showed that Aave accounts for 47.8% of active loans onchain, folled by Morpho 18.5%, & Spark 8.1% ▫️HYPE open interest reached a 2026 high of $11.5B ▫️Data from Token Terminal showed that weekly tx count on ETH hit an ATH at 18.7M while the median tx fee hit an ATL at $0.008 ⏫ Bitcoin Weekly High: $65,412 ⬇️ Bitcoin Weekly Low: $62,326 ⏫ Ethereum Weekly High: $1,968 ⬇️ Ethereum Weekly Low: $1,831 August 3rd to 9th Upcoming Events August 5 - PROVE, $34M token unlock 🔓 August 5 - ENA, $15M token unlock 🔓 August 6 - HYPE, $24M token unlock 🔓 August 6 - US Initial jobless claims 🇺🇸 August 7 - xAI Grok 4.6 Release 🤖 *Nota Bene Crypto markets saw a sharp downturn over the week as the total marketcap fell from $2.23T to $2.17T. BTC traded lower overall, falling from around $65,300 to $63,300 to trade 2.86% down WoW at the time of writing. ETH also experienced a downturn, declining from around $1,955 to $1,844 to trade 5.67% down WoW amid broad risk-off sentiment. On the fund side, US BTC ETFs recorded $61.5M worth of outflows as $265.4M flowed outwards on Friday, wiping out the previous day's gains (over $200M in inflows) as investor sentiment soured. US ETH ETFs recorded moderate inflows worth $10M to actually stretch their current inflow streak. The shift in sentiment reflected a broader reduction in risk appetite as investors weighed persistent geopolitical uncertainty in the Middle East, elevated oil-price volatility, alongside key U.S. economic data & potential Fed policy shifts. With oil prices elevated investors feared inflation could remain sticky, delaying interest-rate cuts or even prompting further tightening. Traditional markets were influenced by major corporate earnings & concerns over inflation, prompting rotation away from risk assets. Elevated valuations resulted in markets being sensitive to any guidance suggesting slower AI spending or weaker future growth, contributing to heightened volatility in growth stocks. Looking ahead, digital asset markets are likely to remain driven by macroeconomic developments rather than crypto-specific news. U.S. labour market data as well as Fed commentary may act as key catalysts in determining sentiment. While geopolitical developments, particularly in the Middle East, may also influence volatility & overall market sentiment.