🌍 BBVA Launches Cryptocurrency Services for Retail Customers in Spain

💱 Banco Bilbao Vizcaya Argentaria (BBVA) has recently introduced a cryptocurrency trading and custody service for retail customers in Spain. This new feature, which is fully integrated into the BBVA mobile app, allows users of legal age to buy, sell, and hold bitcoin and ether directly from their mobile devices. A company representative emphasized the bank's commitment to providing a seamless digital experience for its customers.

🛡 The service is entirely client-initiated, meaning that no investment advice is offered by the bank. This approach aligns with emerging EU regulations, specifically the European Regulation on Markets in Crypto-Assets (MiCA), which governs the provision of crypto-asset services within the European Union and aims to protect investors. BBVA stated,

The initiative is aligned with the European Regulation on Markets in Crypto-Assets (MiCA),

highlighting the importance of maintaining investor protections while engaging with the crypto market.

🌐 This launch in Spain follows BBVA's previous expansions into digital assets in Switzerland in 2021 and Turkey in 2023, broadening access from private clients to a wider retail user base. The bank's decade-long investment in blockchain infrastructure has supported this growth. BBVA began offering crypto services to high-net-worth clients in Switzerland before adding ether and stablecoins like USDC. Its Turkish division has also implemented a comprehensive crypto offering.

📈 Francisco Maroto, BBVA’s head of digital assets, stated,

Following this launch in Spain, BBVA has added another country to its digital assets service… Our aim is to offer the best investment and transaction-based solutions to our customers.

This launch reflects BBVA’s ongoing focus on digital transformation while striving to manage risks through a regulated framework.

🌐 DePINs: A Game Changer for Telecom Coverage and Consumer Trust

📈 The decentralized physical infrastructure network (DePIN) market is projected to reach a staggering $3.5 trillion by 2028, up from its current estimated value of $30 billion to $50 billion. This growth is largely driven by the rise of decentralized physical artificial intelligence (DePAI), which represents a "fundamental shift" in how AI interacts with physical infrastructure. Unlike traditional models, DePAI utilizes community-owned networks where users contribute to machine learning, eliminating the bottleneck of centralized datasets.

🌍 World Mobile, a leading DePIN, has made significant progress in Africa and Asia and is now set for an accelerated rollout in the U.S. The company's recent data shows promising growth dynamics, surpassing the 40,000 airnodes threshold and experiencing a nearly 4,000% increase in total revenue to $7.2 million. Mickey Watkins, founder and CEO of World Mobile, emphasized the company's mission to address "blackspots" in telecommunications coverage, stating,

The so-called mature U.S. telco market still leaves over 11% of the country completely unconnected.

📉 Consumer trust in major U.S. carriers like Verizon, AT&T, and T-Mobile is declining. A recent report revealed that Verizon experienced its "worst result on record" with a net loss of 289,000 postpaid phone customers. Meanwhile, cable companies and Mobile Virtual Network Operators (MVNOs) like Spectrum and Comcast are gaining ground by attracting more new phone customers than the three major carriers combined. This shift indicates that consumers are not just switching between traditional carriers but are increasingly looking for alternatives outside the conventional model.

💰 Watkins highlighted the economic pressures driving this trend. He noted that "people want new ways to earn" and pointed to the success of the sharing economy with platforms like Uber and Airbnb. World Mobile's AirNode operation aligns with this mindset by allowing individuals to monetize their connectivity. Watkins stated,

If you can earn from your spare room or your car, why not your connectivity?

🔄 World Mobile is accelerating its rollout in the U.S. due to favorable conditions for DePIN. Watkins explained that "people want privacy, ownership, and new income streams" and that the company is making this possible. He also discussed the earthnode buyback program designed to benefit the community by using a portion of the network's revenue to repurchase World Mobile Tokens (WMTx) from the market. This program, which began in May 2023, ensures fairness and transparency through random intervals for subsequent buybacks.

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💰 Bit Digital Shifts Focus to Ethereum with $67.3 Million Share Offering

🔄 Bit Digital (Nasdaq: BTBT) is making a significant shift towards Ethereum by announcing a direct share offering of $67.3 million, with the proceeds earmarked for further ETH purchases. This move comes as part of the company's strategic pivot away from Bitcoin.

🤝 On Monday, Bit Digital entered into a placement agency agreement with B. Riley Securities to sell 22 million ordinary shares at $3.06 each to select institutional investors. The transaction is expected to close around July 15, pending customary closing conditions.

📈 This is Bit Digital's second capital raise focused on ETH in less than a month. In late June, the company raised $172 million through a public offering of 75 million shares at $2.00 per share, with similar intentions for Ethereum acquisitions.

🔄 Earlier this month, Bit Digital announced a complete transition to an Ethereum-based treasury strategy. This included converting 280 BTC from its balance sheet into ETH and using funds from a previous offering to increase its holdings. As a result, the company's ETH reserves have grown to 100,603 ETH.

🚫 Bit Digital has also revealed plans to wind down its Bitcoin mining operations and reposition itself around Ethereum staking and treasury management. Following the announcement of its full treasury pivot last week, shares of Bit Digital surged by 25%, although they dipped slightly by 1.2% on Monday after the latest capital raise announcement.

🚨 IMF Report: El Salvador's Chivo Wallet Breaches Bitcoin Non-Accumulation Agreement

📰 The International Monetary Fund (IMF) has issued a report highlighting El Salvador's non-compliance with the bitcoin non-accumulation quotas set in its $1.4 billion credit facility deal approved in February. The report points to the Chivo Wallet, the government's official bitcoin wallet, as the primary reason for this breach.

📉 According to the IMF,

Fluctuations in Chivo clients’ deposits denominated in bitcoin and Chivo’s liquidity management policy, which does not adjust to such fluctuations, led to minor breaches in conditionality.

This means that when Chivo Wallet users sell their bitcoin liquidity, the wallet does not sell the actual cryptocurrency, resulting in an increase in bitcoin ownership by the Salvadoran public sector.

🔍 The IMF monitors these disruptions by using signed statements for all hot and cold wallet addresses and their balances, along with a tool to detect daily changes in Chivo Wallet deposits. The report notes that

Corrective actions have been taken to establish a sufficient buffer to mitigate the risk of future breaches prior to the planned sale of Chivo.

📅 El Salvador's authorities have already announced a plan to unwind and/or sell Chivo Wallet this month, along with liquidating Fidebitcoin, a government-created fund for BTC-USD exchange operations. Interestingly, the IMF report does not mention the ongoing bitcoin accumulation program by the Salvadoran government, which has allowed the Bukele administration to continue purchasing bitcoin without impacting the deal.

💰 As of now, the National Bitcoin Office (ONBTC) of El Salvador reports that the nation holds over 6,239 BTC valued at over $740 million.

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🚀 Sequans Communications Expands Bitcoin Holdings

💰 Sequans Communications S.A., a Paris-based IoT semiconductor firm, has recently acquired an additional 1,264 BTC for approximately $150 million. This purchase, made at an average price of $118,659 per coin, brings the company's total bitcoin holdings to 2,317 BTC, valued at around $270 million based on acquisition cost.

📈 This move solidifies Sequans' position as a leading corporate adopter of bitcoin, alongside other notable firms like Strategy and Metaplanet. The company's average purchase price now stands at $116,493 per bitcoin.

💼 Sequans takes a unique approach to funding its BTC purchases, utilizing a combination of equity and debt financing, along with cash from operations and IP monetization. The company views bitcoin not only as a reserve asset but also as a long-term strategic hedge and store of value.

💰 XRP Ledger Revolutionizes Brazil's Private Credit Markets

🌐 Brazil is experiencing a significant transformation in its private credit markets with the introduction of a blockchain-backed infrastructure powered by the XRP Ledger. On July 23, VERT, a securitization and fund management firm, launched a platform designed to streamline private credit workflows. This innovative system records essential transactions and events on-chain, aiming to enhance the speed, security, and transparency of Brazil's capital markets through tokenized digital records.

💵 The platform's inaugural issuance was a BRL 700 million (approximately $130 million) Agribusiness Receivables Certificate (CRA), crucial for funding Brazil's agriculture sector. This transaction not only tokenized cash flows related to agricultural production but also set a precedent for near real-time transparency and traceability. Gabriel Braga, VERT’s Director of Digital Assets, emphasized the importance of detailed event recording for ensuring traceability and transparency.

🔗 Additionally, the solution incorporates the XRPL EVM Sidechain, which provides Ethereum-compatible smart contract functionality for automation and detailed reporting. Silvio Pegado, Ripple’s Managing Director for LATAM, highlighted the broader economic implications, stating that this milestone showcases how blockchain technology can modernize financial markets essential for national growth.

📈 With over $500 million in upcoming operations, VERT aims to expand the platform across various asset classes while adhering to Brazil’s regulatory framework. Proponents believe that tokenized structured credit could play a pivotal role in modernizing capital markets and attracting foreign institutional participation.

🏦 Bitgo Expands into Brazil's Crypto Market

🌍 Bitgo, a U.S.-based cryptocurrency custody provider, has announced the opening of a local office in Brazil to target banks entering the cryptocurrency sector. The company aims to acquire customers from the banking industry and will offer insurance options for clients using their own solutions.

🗣 Luis Ayala, Bitgo’s director for Latam, emphasized the importance of local presence due to unclear cryptocurrency regulations in Brazil. He stated,

We wanted to be a more local player, accepting payments in reais and having invoices directly in the country.

🤝 Rather than competing with banks, Bitgo seeks to integrate into their business models by providing complementary solutions. Ayala explained,

Our process also includes insurance for banks’ local custody operations. We don’t want to compete with these banks’ custody market, but we want to be partners to help them do this clearly and securely.

🌐 Bitgo already operates in Brazil with over 25 customers and has custody services in various locations including South Dakota, New York, Germany, Denmark, Switzerland, Dubai, and Singapore. The company will also offer crypto-centric solutions for exchanges and other crypto-first companies, such as staking.

⚖️ Bitgo's local offerings provide an alternative to similar services from Fireblocks, an Israeli company also operating in Brazil, which is currently preparing for a public listing.

🇺🇸 Trump International Golf Links: A New Era for Golf and Digital Finance

🏌️‍♂️ U.S. President Donald Trump has officially inaugurated the Trump International Golf Links course in Aberdeen, Scotland. This course is set to host the inaugural Nexo Championship from August 7 to 10, 2025.

🤝 The event signifies a merger between digital finance and global golf. Nexo co-founders Antoni Trenchev and Kosta Kantchev were present, along with Scottish First Minister John Swinney. During a lunch with President Trump, they discussed the future of sports and the increasing role of digital finance in the economy.

🏆 The Nexo Championship is part of Nexo’s larger strategy to combine sports and technology. The company also collaborates with six prestigious events on the DP World Tour calendar. This new course and championship are anticipated to boost Scotland’s golf tourism, which generates over $400 million annually.

📅 vEarlier in April, Nexo announced its re-entry into the U.S. market at an exclusive business event featuring Donald Trump Jr.

🚨 JPMorgan's 'Operation Chokepoint 3.0': A Threat to Crypto and Fintech

💼 A general partner at Andreessen Horowitz, a leading venture capital firm, has raised concerns about JPMorgan's recent banking practices that may undermine the crypto and fintech sectors. Despite CEO Jamie Dimon's recent endorsement of stablecoins, Alex Rampell claims the bank is overcharging these firms for access to essential banking services.

💰 In a newsletter, Rampell stated,

The banks are aiming to implement their own Chokepoint 3.0, charging insanely high fees to access data or move money to crypto and fintech apps.

He further expressed concern about the bank potentially blocking access to crypto and fintech applications that they disapprove of.

📰 This situation echoes the previous Operation Choke Point 2.0, which was an alleged effort by the Biden administration to undermine the crypto industry through debanking. However, Rampell emphasizes that JPMorgan's actions are not government-driven but rather a direct initiative by the bank. He urged the Trump administration to intervene, stating,

We don’t need a new law. We just need the administration to prevent this callous and manipulative attempt to kill competition and consumer choice.

📊 Rampell pointed to a recent article highlighting JPMorgan's shift in handling data requests from tech companies as evidence of the bank's malicious intent. This change could significantly impact payment and crypto apps like Venmo and Coinbase, which rely on free data transfers from user bank accounts. He warned,

If it suddenly costs $10 to move $100 into a Coinbase or Robinhood account, maybe fewer people will do it.

📅 JPMorgan has already updated its fee schedules for data aggregators, with new fees set to take effect later this year. While Dimon argues that

third parties should compensate banks for access to their systems

, Rampell believes the bank's true aim is to suppress competition. He cautioned,

Make no mistake: this isn’t about a new revenue stream. It’s about strangling competition. And if they get away with this, every bank will follow.

🟠 Bitcoin Price Prediction As September Rate Cut Odds Soar to 87% – Analysts Eye $124K Next? 🚀

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🟢 Bitcoin Price Analysis: Current Trends and Future Predictions

📉 Bitcoin's price is currently at $114,930 with a market cap of $2.28 trillion and a trading volume of $34.71 billion over the past 24 hours. The cryptocurrency has been trading within a range of $113,941 to $115,591 as it undergoes a consolidation phase after a significant rally in July.

📊 On the daily chart, Bitcoin is in a corrective phase following a strong rally from approximately $105,130 to $123,236, which was a 17% gain. The price action shows sideways movement with a slight downward bias due to profit-taking at the peak. Current support is at $112,000 with stronger support at $108,000, while resistance is in the $116,500 to $118,000 range. Until the price breaks above $118,000 on strong volume, the short-term bias leans neutral to bearish.

📉 The four-hour chart indicates a rejection from $118,904 followed by a sharp decline to $111,919. The subsequent recovery has been low in volume and less convincing, with repeated resistance near $115,000. Support is at $113,000 and a potential bear flag pattern is forming, suggesting a risk of further downside if support fails. A break below $113,000 could lead to retests of $111,900.

📈 On the one-hour chart, intraday resistance at $115,700 has capped multiple rally attempts, while support at $114,000–$114,300 has been tested several times. Volume analysis shows selling pressure outweighing buying interest, indicating that bulls may struggle to maintain momentum without fresh buying support. If the $114,000 support fails, traders may look for downside targets near $113,000.

🔄 Oscillators present a mixed outlook. The relative strength index (RSI) is at 49, indicating neutral momentum, while the Stochastic oscillator is also neutral at 34. The commodity channel index (CCI) at −105 signals positivity suggesting potential recovery, but momentum at −3,022 and the moving average convergence divergence (MACD) level at 239 both issue bearish signals. This blend of indicators points to market indecision.

📉 Moving averages show a split picture between short- and long-term sentiment. The exponential moving average (EMA) for 10, 20, and 30 periods are all above the current price signaling bearish conditions. However, the EMA and SMA for 50, 100, and 200 periods are below the current price issuing bullish signals. This suggests that while short-term pressures remain bearish, the longer-term outlook still favors the bulls if key support levels hold.

💪 If Bitcoin can decisively break above $115,700 on strong volume, short-term momentum could shift in favor of buyers. A sustained move through $116,500 would increase the likelihood of testing the $118,000 resistance zone. Conversely, failure to hold support at $114,000 would likely invite further selling pressure with immediate downside targets at $113,000 and $111,900. The prevailing short-term bearish signals suggest that a breakdown could trigger deeper retracements toward the $108,000 support zone.

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🚪 Canaan's Strategic Withdrawal from Bitcoin Mining Locations

🔄 Canaan has recently withdrawn from its bitcoin mining operations in Kazakhstan and a less productive site in South Texas as part of its strategy to optimize operations. The China-based miner manufacturer reported mining 89 BTC in July, which resulted in a realized hashrate of 5.56 EH/s, a decrease from 6.67 EH/s in May and 5.82 EH/s in June.

📉 This decline was mainly attributed to Canaan's planned exit from Kazakhstan and the early termination of a hosting agreement in South Texas. These decisions led to the temporary idling of some of its mining fleet. Canaan stated that it is currently relocating the affected machines and anticipates that about half of the offline units will resume operations in August, with the rest to follow.

🌧 The need for this shift comes after weather-related disruptions in June affected the company's uptime. As of July, Canaan reported an operating hashrate of 6.24 EH/s, which represents 78% of its deployed hashrate of 7.95 EH/s. The company's exit from Kazakhstan reflects a broader industry trend where miners are scaling back operations in the region due to increasing regulatory and operational uncertainties.

☀️ Additionally, the departure from South Texas highlights the challenges miners face in maintaining efficiency during the summer months, when energy prices rise and curtailment risks increase. Despite these challenges, Canaan's bitcoin holdings have increased to 1,511 BTC under its new treasury policy to retain mined coins.