Daily Summary – July 10

Lead stories

Circle has received approval to establish a U.S. National Trust Bank.

The Ethereum Foundation has launched a fleet of AI agents that simultaneously audit Ethereum’s code, cryptography, and network components. The system has already identified a real vulnerability in libp2p that could have allowed attackers to remotely crash network nodes.

JPMorgan believes the biggest threat to Bitcoin is not potential large-scale sales by Strategy, but the possibility of banks and major financial institutions shifting to private blockchain networks.

Following Binance restrictions in the EU, around 70% of withdrawn funds were transferred to personal crypto wallets, while only 30% moved to MiCA-licensed platforms.

A former Meta engineer has sold all of his Bitcoin, stating that the market is driven by attention, which is now almost entirely focused on artificial intelligence. He still believes in BTC over the long term but expects a significant price correction before buying back.

The recent increase in Ethereum network activity may be misleading. While the number of transactions has grown, the median transaction value in U.S. dollars has fallen by 77%, and institutional capital remains limited.

The Bitcoin-to-gold ratio has fallen to its lowest level in years. Historically, similar oversold conditions have coincided with major Bitcoin market bottoms followed by strong recoveries.

Metaplanet plans to introduce Bitcoin-backed lending products in Japan. The company aims to create a 24/7 BTC lending market, which does not currently exist in the country.

Blockchain investigator ZachXBT reported that one of Solana's earliest whales was hacked. The investor, who received SOL during the network's genesis distribution, lost 180,900 SOL, worth approximately $14.2 million.

Kazakhstan plans to launch a tenge-backed stablecoin for international settlements, according to the Governor of the National Bank of Kazakhstan.

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