Bitdeer lands $4.7B AI lease with Anthropic, but must deliver by year-end

The US Court of Appeals for the Second Circuit has officially upheld Sam Bankman-Fried's conviction on seven felony counts, cementing his 25-year prison sentence in the most high-profile crypto fraud case in recent history. The mandate rejects the former FTX CEO's claims that the defunct exchange had sufficient liquidity to make investors whole, effectively closing legal avenues for early release. The court also maintained the $11 billion forfeiture order, marking a definitive end to Bankman-Fried's appeals process and sending a strong message about accountability in the cryptocurrency industry.

This judicial decision represents a watershed moment for cryptocurrency regulation and enforcement, establishing clear precedents for how financial fraud cases involving digital assets will be prosecuted. The judges' opinion emphasized that wire fraud statutes encompass temporary misappropriation of funds, clarifying that FTX customers were defrauded the moment their assets were transferred to Alameda Research, regardless of the perpetrator's intentions to repay them. The case continues to shape regulatory discussions and legal standards across the crypto ecosystem, potentially influencing future legislation and enforcement actions in the digital asset space.

BlackRock, the world's largest asset manager, has executed a strategic move by selling nearly half of its loan portfolio to a Pantheon-backed vehicle in a $523 million deal. This transaction marks a clear strategic pivot, focusing on liquidity and balance sheet optimization for the financial giant. The deal represents a significant inflection point in the crypto credit market, indicating that major financial institutions are reassessing their positions in risk assets. Through this structured sale, BlackRock aims not only to unlock immediate capital but also potentially enhance its future lending capacity, strategically positioning itself for new market opportunities while reducing exposure to higher-risk assets.

Federal authorities have sentenced Marvell Trevenski Jackson Jr., 26, of Baton Rouge, to four years in prison after he orchestrated a sophisticated bank fraud and mail theft scheme that drained $300,000 from victims. The criminal pleaded guilty to conspiracy to commit bank fraud and theft of mail, highlighting the ongoing battle between law enforcement and financial criminals targeting both traditional and crypto sectors.

This case underscores the persistent threats of financial fraud and identity theft despite enhanced security measures. The Department of Justice's investigation reinforces the critical need for robust data protection and financial literacy to prevent victims from falling prey to criminal schemes. The incident serves as a stark reminder for financial institutions and customers alike about implementing comprehensive security protocols against both cyber and physical threats.

The US Senate will hold a critical vote on the CLARITY (Digital Asset Market Clarity) Act this week before the August recess, confirmed by Senator Tim Scott, Chairman of the Banking Committee. The landmark legislation aimed at bringing regulatory clarity to the crypto market is set to advance in Congress, with Majority Leader John Thune holding the authority to schedule the final vote.

This vote represents a pivotal moment for the cryptocurrency sector in the US, as the CLARITY Act seeks to establish a clear regulatory framework for digital assets. Passage of the legislation before the August recess would mark a significant advancement in cryptocurrency regulation in the United States, potentially influencing global policies and bringing greater legal certainty to investors and businesses in the sector.

US ETFs have shattered records with $1.2 trillion in inflows, as the daily average surged 40% throughout 2025. This massive capital flow into exchange-traded funds is reshaping the global financial landscape, concentrating capital in specific assets and increasing investor dependence on structured products across equity, bond, and emerging crypto markets. This phenomenon is particularly evident in high-growth sectors like cryptocurrencies, where ETFs are channeling capital at an unprecedented rate.

This unprecedented concentration of capital in ETFs is creating significant systemic risks, particularly in equity markets and emerging sectors like cryptocurrencies. Analysts warn that this trend could lead to increased market volatility and fragility, as investors move in unison into or out of specific products, potentially amplifying downturns or fueling bubbles in particular sectors.

sFOX analysis reveals that institutional dark pools have grown from negligible volume in April to a staggering 15% of monthly cryptocurrency volume by June. May's dark pool volume alone reached $147 million, while the firm's July 30 report indicates that 77.7% of institutional volume moving through its platform is routed to OTC desks, compared to just 18.4% landing on public exchanges.

This silent shift in the cryptocurrency ecosystem represents a fundamental market transformation, eliminating the edge that retail traders had when monitoring large "whale" movements. With most institutional volume now being executed off public exchanges, individual investors lose the ability to anticipate trends based on large transactions, potentially increasing the information asymmetry between institutions and retail traders.