Hyperinsight data shows that the top nine whale addresses on Hyperliquid are all sitting on unrealized losses, despite each holding positions close to or above $100 million. Their combined notional exposure stands at about $1.285 billion, with individual books ranging from $97.84 million to $314 million. The largest loss belongs to the address labeled “BTC OG insider whale,” whose overall paper loss has reached $15.538 million, driven mainly by a 5x leveraged BTC long worth roughly $82.906 million. ETH shorts have emerged as the most crowded losing trade among the group: six of the nine addresses are short a combined 222,000 ETH, with those positions showing total unrealized losses of $36.208 million. Specific addresses including pension-usdt.eth, BobbyBigSize and Abraxas Capital all posted notable losses on ETH shorts, although Abraxas offset part of the damage with profitable shorts in HYPE, SOL and FARTCOIN. Other losses came from BTC shorts and U.S. equity longs such as GOOGL and MRVL, showing that the drawdown was not tied to a single directional bet.

The European Securities and Markets Authority updated its temporary Markets in Crypto-Assets (MiCA) register on Friday, adding 15 licensed crypto-asset service providers and bringing the total to 309. The newly added entities include BNY SA/NV, the Belgian subsidiary of U.S. banking giant BNY Mellon. The update also added four banking institutions in total, three of them from Germany, alongside digital asset platforms including BitPay, Coinify, and Bleap. By country, Germany and Denmark each saw three new CASPs added, while Bulgaria and Latvia added two each. Belgium, Cyprus, Liechtenstein, and the Netherlands each added one. ESMA said the latest update did not change any other MiCA-related registers, including those covering asset-referenced tokens, e-money tokens, authorized crypto-asset issuers, and non-compliant entities. The regulator had previously added 14 CASPs in its second update after the July 1 transition deadline, including Ripple Payments Europe.

Abraxas Capital has long been a familiar name to on-chain sleuths and a largely invisible one to the broader public. The firm, founded in London in 2002 by Fabio Frontini and Luca Celati, began as a global macro shop before shifting its focus to digital assets in 2017. A review of its addresses, fund disclosures, and arbitration records now sketches a much larger picture: a trading and treasury network spanning centralized exchanges, DeFi lending markets, stablecoin issuance channels, and large public hedge positions. The report says Abraxas’s Elysium and Heka structures became major institutional conduits for USDT, with more than $1.5 billion in USDT attributed to Heka-related address paths by 2021. Arbitration materials made public in July 2026 also showed Tether held roughly $500.2 million in Elysium on April 28, 2023, rising to about $504.6 million a month later. By the arbitration phase, Tether’s investment had reached $800 million, or about 75% of Elysium’s assets, and founder Fabio Frontini testified that Tether added another $500 million in February 2024. As of July 23, 2026, 43 identifiable Abraxas addresses reportedly held about $1.142 billion in assets, including $548.6 million in BTC and $440.5 million in ETH. The same network has also been tied to massive ETH transfers, heavy USDe and sUSDe activity, and a Hyperliquid account whose 54 measurable trades generated about $78.11 million in profit.

After MiCA took full effect across the EU on July 1, 2026, Kraken moved to the top among licensed exchanges by spot liquidity and market count. The European Commission is now collecting feedback on whether MiCA should expand to cover tokenized securities and non-EU stablecoin issuers.

Bitcoin surged past $72,000 and Ethereum topped $2,200 late Wednesday. CoinGlass reported $218 million in total liquidations within 24 hours, with the largest single liquidation of $8.93M occurring on FARTCOIN perpetuals.

WISeKey's SEALCOIN project became the hottest topic at Consensus Hong Kong 2026, featuring a live satellite airdrop, hardware integration with SEALSQ chips, and real-time orbital interaction. The Hack Seasons demo drew massive crowds, signaling DePIN's transition from concept to reality.

A deep dive by NIC CARTER reveals that top Bitcoin core developers largely ignore quantum risk, while a handful of researchers push for post-quantum migration but gain no traction among power holders.

Under MiCA, only stablecoins with EU-authorized issuers get a clear compliance label. USDC, EURC, EURCV, EURI, EURQ, USDQ lead the list. Bitcoin, Ethereum, and other major coins don't have official 'MiCA-compliant' status — the regulation targets services, not assets.