Cryptocurrency
FTX senior management knew about the problems at the site back in 2020

The New York Times has found that FTX senior management has known about the site’s problems because of Alameda since at least 2020
FTX management, including the site’s founder, Sam Bankman-Fried, has known about the site’s problems because of hedge fund Alameda Research since at least 2020. The New York Times (NYT) reports this, citing court documents.
According to the details of the documents, in 2020, one of the representatives of FTX administration calculated on the database of the site and found out that even then Alameda Research was suffering financial losses of hundreds of millions of dollars, using the assets of exchange clients. Information was brought to Bankman-Fried, who, however, did not see anything wrong. They said Alameda’s negative balance sheet wasn’t a threat to the company because the fund was using FTT tokens that FTX was issuing.
What did FTX senior management do?
At the same time a certain audit company was auditing FTX. Which one, it is not specified. But then the management of Alameda Research warned the exchange’s founder that the auditors might be interested in the source of the fund’s money. In response, Bankman-Fried said that auditors “usually don’t care about such questions.”
Moreover, the documents, as the NYT writes, indicate that in September 2022, Bankman-Fried was aware of a $5 billion financial loss at Alameda Research. Such a large hole in the fund’s balance sheet led the disgraced cryptopreneur to discuss closing the fund.
A little later, FTX employees learned that Alameda Research had borrowed about $13 billion from FTX to fund deals. It was unclear whether all of the money had burned through. The information was brought to Bankman-Fried, who, however, hoped to solve the problem by attracting new investment and the rise of the crypto market.
However, the rise of the crypto market never happened, and the exchange faced an influx of clients who wanted to withdraw funds. In November, the exchange filed for bankruptcy shortly after the head of cryptocurrency exchange Binance publicly announced that he would sell his stake in FTX. According to media reports, Sam Bankman-Fried arbitrarily used the assets of the trading platform’s clients to cover the debts of his trading firm, Alameda Research.
Earlier, we reported that Binance has figured out how to avoid the FTX-style fiasco.
Cryptocurrency
$200K Bitcoin (BTC) This Year? On-Chain Metrics Make a Strong Case

Bitcoin has entered a technical correction phase after reaching an all-time high of $123,400 on July 14. The crypto asset is down by almost 7% as it currently trades near $114,000. The drop is attributed to macroeconomic pressures such as inflation and tariffs, bearish technical signals, and liquidation events.
Data suggests that Q4 historically benefits Bitcoin, and after a strong July, bulls are hopeful for another breakout.
Bitcoin’s Technical Dip
CryptoQuant views the decline as primarily technical and said that the market is still in a broader price discovery cycle. This cycle, which reflects market attempts to determine Bitcoin’s fair value through supply and demand, could push the price toward the $200,000 level by the end of Q4 2025.
BTC has traditionally seen strong performance in Q4, and current market conditions could help continue that seasonal pattern. Binance’s on-chain data reveals large stablecoin reserves. This points to a considerable amount of sidelined capital that could soon flow back into the market, potentially boosting Bitcoin and prominent altcoins like BNB. This, in turn, may set the stage for a potential altseason.
The current reflexive relationship between Bitcoin and emerging treasury investors could aid its price discovery in Q4. But whether altcoins will follow suit remains uncertain amid growing market crowding. Nonetheless, institutional interest may further boost Bitcoin’s upward trajectory in the coming months.
Adding to this narrative, Glassnode noted that Bitcoin’s $109K-$116K range is steadily filling during price dips, which reflects continued investor interest. The consistent staircase-like pattern suggests steady accumulation. Additionally, minimal selling between $118K-$120K means that investors in this range are largely holding, which indicates confidence in long-term price appreciation.
Big Bets On Year-End Rally
Several market watchers remain optimistic about a strong year-end comeback despite the current pullback. TeraHash, for one, recently predicted a price range of $130K-$150K by December, citing ETF inflows, potential Fed rate cuts, and upcoming regulatory clarity from the SEC and MiCA framework. Important catalysts include continued ETF inflows, Fed policy easing in September, and full implementation of Europe’s MiCA framework.
Meanwhile, on-chain data shows surging mining difficulty and geographic expansion, while Hashrate-as-a-Service models attract institutions seeking exposure with less risk.
Bullish projections also came from Fundstrat’s Tom Lee and American venture capital investor Tim Draper, who forecast $250K by year-end. Even more aggressive predictions from Charles Schwab and Mike Novogratz place Bitcoin at $1 million by the end of 2025.
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Cryptocurrency
Important Binance Announcement: Here’s Why Some Services Will be Suspended This Week

TL;DR
- Binance will halt USDC withdrawals on certain networks for approximately two hours.
- Over the past several days, the exchange introduced new features, including Discount Buy and Binance Wallet (Web).
Attention, Binance Users
The world’s largest crypto exchange will perform wallet maintenance for USDC withdrawals via Ethereum (ETH), Polygon (POL), Arbitrum (ARB), Base (BASE), and Optimism (OP) networks on August 6. To support the process, USDC withdrawals through the networks above will be halted on that day. The maintenance is expected to be concluded in two hours, and after that, all services will be resumed.
Binance assured that the trading of tokens on the depicted networks will not be impacted and promised to handle all technical requirements involved for the users. It also said there will be no further announcements on the matter.
The company regularly conducts such operations to enhance the overall user experience and ensure the seamless operation of its services. Last week, it paused all deposits and withdrawals due to a live upgrade on its wallet network infrastructure.
Over the past several months, it briefly suspended services on the TRON, Cardano, and other networks because of similar efforts.
Binance’s Latest Features
The company frequently introduces new products to address ongoing market trends and provide additional services to its users. Just a few days ago, it unveiled Discount Buy – a feature which allows clients to make advanced crypto purchases in markets with lower volatility.
Included in Binance’s Earn portfolio, this product lets users lock in future buys at pre-set prices under market value, or collect a fixed APR if the trade isn’t carried out.
“Discount Buy is well-suited for users who anticipate limited price fluctuations and want to accumulate crypto at a discount without needing to time the market or monitor prices closely. It offers flexibility across investment scenarios, giving users more choices and opportunities in how they want to participate in the crypto market,” said Jeff Li, VP of Product at Binance.
Earlier this week, the exchange introduced Binance Wallet (Web), which allows users to “trade smart, fast, and securely, all without leaving their desktops.” A key feature of the offering is Secure Auto Sign (SAS) – a new signing method that enables customers to approve transactions once and trade seamlessly for up to seven days, without repeated confirmations.
The product is specifically designed for those who want to discover new meme coins, follow on-chain activities in real time, explore transaction history and token balances in one place, and access Alpha tokens.
“Binance Wallet (Web) was introduced to address desktop-specific needs. It offers more screen space, modular layouts, and faster multitasking for on-chain users who trade actively or monitor multiple signals.
While the mobile app excels in portability, Binance Wallet (Web) enables plugin-free, browser-native trading with floating widgets and real-time data panels, all on a single page. It is ideal for meme coin discovery, wallet tracking, and strategy execution without tab switching,” the disclosure reads.
Currently, the feature supports BNB Smart Chain and Solana. Clients of the exchange can instantly connect their account to Binance Wallet (Web) via QR code, with no additional setup required.
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Cryptocurrency
ETH Open Interest Sees Dramatic Rise – 3.5x Higher Than 2021 Bull Run Levels

Ethereum’s Open Interest (OI) on Binance has surged to a record $8.7 billion, which indicates a significant increase in speculative positioning on the platform.
This represents a dramatic rise compared to the 2021 bull market, when ETH traded at similar price levels but OI on Binance peaked at only $2.5 billion.
Ethereum’s Market Is Heating Up
In its latest analysis, CryptoQuant revealed that the current figure, nearly 3.5 times higher, highlighted the growing appetite for leveraged exposure in Ethereum’s market. Despite this surge in OI, funding rates, interestingly, remain neutral, indicating that traders are not yet heavily biased toward long or short positions.
The lack of directional conviction hints at room for further buildup in positions without triggering immediate liquidation pressures. The increase in OI, paired with neutral funding, paints a picture of cautious but growing speculative interest.
With the broader crypto market trending upward, these conditions may support a steady rally in the leading altcoin’s price, potentially accompanied by increased volatility.
CryptoQuant said that the current setup is a constructive signal, and added that Ethereum has a high chance of continuing its bullish trajectory. The quiet accumulation of leveraged positions on Binance, absent extreme sentiment, may be laying the groundwork for the next phase of price expansion. As traders position themselves, Ethereum could be primed for a sharper move in the near term.
Ethereum Defies Market Outflows
Despite the broader market turbulence last week, Ethereum continued to attract investor interest and secured its 15th straight week of inflows with $133 million. While digital asset investment products saw net outflows of $223 million, the first in 15 weeks, Ethereum stood out for maintaining positive momentum.
The week began with a strong $883 million in inflows but reversed sharply after hawkish signals from the FOMC and strong US economic data. Bitcoin bore the brunt of the risk-off sentiment and lost $404 million.
Still, CoinShares said that the recent correction likely reflects profit-taking, not fading confidence, especially as Ethereum and select altcoins like XRP and Solana remained resilient.
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