Major centralized exchange names were mostly lower over the past 24 hours. BTC fell 1.06%, ETH dropped 0.44%, SOL lost 1.12%, XRP declined 0.86%, BNB slipped 0.6%, DOGE fell 1.43%, ZEC lost 3.15%, TRX edged down 0.03%, and QQQB dropped 0.6%. RE was the outlier, rising 15.6%.
According to OKX data, the top 24-hour gainers were ZAMA at 27.15%, PROS at 24.55%, RE at 16.66%, NES at 15.52%, ASP at 7.05%, KITE at 6.67%, BARD at 4.28%, DYDX at 4.16%, HBAR at 3.77%, and WIN at 3.76%.
According to msx.com, the top 24-hour gainers among crypto-related stocks were SMCI.M at 21.49%, SKHY.M at 12.28%, TSLQ.M at 10.86%, CONI.M at 10.19%, DELL.M at 9.33%, RIOT.M at 8.56%, ABTS.M at 8.47%, LQDA.M at 8.28%, CIFR.M at 7.34%, and CRWV.M at 6.92%.
On-chain meme names in focus
GMGN data showed the top five trending meme tokens on-chain were PONS, CASHCAT, AI, and SWOGE on Robinhood Chain, along with DOYR on BSC.
Top stories
Trump says a federal government shutdown is expected in September
Speaking in Georgia on July 22 local time, U.S. President Donald Trump said the federal government is expected to shut down in September because Republicans and Democrats remain divided over spending priorities.
One day earlier, on July 21 local time, the Republican-controlled U.S. House of Representatives passed a short-term funding bill that would keep federal agencies funded through Dec. 4 in an effort to avoid a shutdown ahead of the November midterm elections. The temporary measure, also known as a continuing resolution, now heads to the Senate.
Senate Republican leaders are currently negotiating with Democrats and are also considering their own short-term funding proposal. If Congress fails to pass appropriations in time, funding for most federal agencies and programs will expire at midnight on Sept. 30, the end of the current fiscal year.
Samsung Electronics plans stablecoin support in Samsung Wallet
Samsung Electronics said at its Galaxy Unpacked 2026 event that Samsung Wallet will add support for stablecoins, folding payments, rewards, and digital assets into a single service. Samsung said the move would make it one of the first major phone brands to support stablecoins as a native feature.
Samsung Wallet has grown beyond payments into a broader digital hub that can store keys, IDs, and boarding passes. At the same event, Samsung introduced Samsung Galaxy Card, its first financial service built on Samsung Wallet, in partnership with Barclays and Visa in the U.S. The company said its Knox security platform protects sensitive information with end-to-end encryption.
Payward expands xStocks outside the U.S.
Payward, the parent company of crypto exchange Kraken, is expanding its xStocks platform beyond the United States by bringing stocks from Hong Kong, the U.K., South Korea, and other markets on-chain.
Industry developments
Republicans to brief crypto industry participants on CLARITY Act text
Crypto reporter Eleanor Terrett said, citing an industry source invited to a conference call, that crypto stakeholders are scheduled to speak with Republican leadership later this morning local time to get an update on the latest draft text of the CLARITY Act.
U.K. targets first tokenized sovereign bond before early 2027
The U.K. plans to issue its first tokenized sovereign bond before early 2027. A key condition is solving on-chain cash settlement, an issue that has limited institutional use of digital bonds for years.
Industry experts said the plan may already have enough backing from the U.K. Treasury, the Bank of England, and regulators to continue even after recent political changes, and could increase demand for U.K. debt. Progress is still constrained by the lack of standardized on-chain payment methods, mature pound-denominated stablecoins, and regulatory clarity.
Report projects more than $55 billion contribution from crypto to the U.S. economy in 2026
A report from the National Cryptocurrency Association said the crypto industry is expected to contribute more than $55 billion to the U.S. economy in 2026 and support more than 266,000 direct and related jobs.
Japan may launch a Bitcoin ETF in 2028
Japan is expected to launch a Bitcoin ETF as early as 2028. As revisions to the Financial Instruments and Exchange Act bring crypto assets under the regulatory scope for financial products, Japan’s Financial Services Agency plans to adjust investment trust rules so that funds and ETFs can treat crypto assets as primary investment targets. Multiple asset managers are said to be considering participation.
Institutional interest is also rising. A survey by Nomura Holdings and Laser Digital found that about 79% of institutional investors and family offices plan to invest in crypto assets over the next three years.
Project updates
Move Industries says it is not tied to Movement Labs bankruptcy
Move Industries CEO Torab said in a post on X that Move Industries is a developer team within the Movement ecosystem and has no connection to Movement Labs, which has filed for bankruptcy. He said Move Industries is not involved in the bankruptcy case.
Torab said Movement is now a global fintech company with a live, licensed stablecoin payment rail designed to close the gap between current money movement systems and an ideal version. He also said he had just returned from East Africa, where he discussed stablecoin adoption with the National Bank of Ethiopia. Earlier reports said Movement Labs had filed for bankruptcy and that a $1.6 million claim by its removed founder was the largest creditor claim.
Kalshi launches Midterms Hub
Prediction market platform Kalshi has launched a Midterms Hub that displays real-time market odds for U.S. Senate and House races by district. The page combines live trading prices, polling averages, Federal Election Commission fundraising data, and selected news coverage.
Kalshi is also seeking regulatory approval to expand perpetual futures trading beyond crypto and is pursuing new funding at a valuation of about $40 billion.
Tesla reports $28.24 billion in second-quarter revenue
Tesla posted second-quarter revenue of $28.24 billion, up 26% year over year and above the $26.32 billion estimate. Adjusted earnings per share came in at $0.33 versus a $0.51 estimate. Earnings per share were $0.32, compared with $0.33 in the same period last year.
Second-quarter free cash flow was negative $1.09 billion, compared with an estimate for negative $3.64 billion. Automotive revenue was $20.52 billion, above the $18.68 billion estimate.
Alphabet reports $119.8 billion in second-quarter revenue
Alphabet reported second-quarter revenue of $119.8 billion, up 24% year over year and above the $117.02 billion estimate. Operating profit was $40.77 billion versus an expected $40.55 billion, while capital expenditures reached $44.92 billion compared with a $44.15 billion estimate.
Google Cloud revenue was $24.77 billion, topping the $22.46 billion estimate. Google Services revenue was $94.54 billion, slightly above the expected $94.32 billion.
Funding and deals
AMD to invest up to $5 billion in Anthropic
Advanced Micro Devices, or AMD, has reached an agreement with Anthropic under which AMD will invest up to $5 billion and sign an AI server procurement partnership worth hundreds of billions of dollars.
Under the agreement, starting in the first half of 2027, Anthropic will be able to purchase up to 2 gigawatts of total compute capacity based on AMD’s next-generation Instinct MI450 chips. AMD said the investment will be tied to agreed deployment targets for that computing capacity.
People and views
Grayscale research head says Bitcoin may already have bottomed if the Fed stops hiking
Grayscale Head of Research Zach Pandl said there are currently two main views on when Bitcoin’s bear market will end. One follows the four-year cycle framework and treats the halving as the core driver of Bitcoin’s price cycle. Historically, Bitcoin has typically bottomed about one year after a cycle top and about 2.5 years after a halving, with an average drawdown of roughly 80%. Under that framework, Bitcoin could still fall further and find a bottom in September or October.
The second view treats Bitcoin as a more mature asset increasingly driven by macro conditions such as economic growth, real interest rates, and changes in Federal Reserve policy. Pandl said prior Bitcoin bear markets often coincided with slower growth or higher real yields, and the current downturn has also unfolded alongside rising expectations for rate hikes and higher real rates. He said he leans toward the macro-driven view. If the Fed does not raise rates again and economic growth remains stable, Bitcoin may already have bottomed.
Rumor linking actor Huang Xiaoming to ChangXin investment denied
Recent discussion around claims that actor Huang Xiaoming invested in ChangXin Technology and made returns worth hundreds of billions of yuan was later denied.
Based on currently available information, the Huang Xiaoming who holds an equity interest related to ChangXin Technology is not the actor. According to Sanyan Shequn, Weibo blogger @万能的大熊 asked the actor directly and was told it was not his investment. Available information also indicates the actual shareholder is likely a Midea Group executive of the same name, who indirectly holds about 3.17% through China Merchants Yunting, the ninth-largest shareholder in ChangXin Technology, which holds 1.58%. After ChangXin’s listing, the value of those shares was about 1 billion yuan.
Eric Conner says Lighter could be a major beneficiary if CLARITY passes
Former Ethereum core developer and angel investor Eric Conner said on X that Lighter could be one of the biggest winners if the CLARITY Act ultimately passes.
He said most other projects are built offshore, while Lighter chose to incorporate in the U.S., is applying for a Commodity Futures Trading Commission license, and has a founder who joined the CFTC advisory committee. In his view, the legislation would directly unlock the company’s broader strategy.