Ethereum's Shanghai Upgrade Is Now Live

Bitcoin's price dropped to a two-month low of $71,479 following mass ETF outflows and a $2.5 million sale by Strategy. The recent 7% decline in the last week brought it to a level not seen since April, with $3 billion in outflows contributing to the slide.

According to a Reuters report, Japan's ruling Liberal Democratic Party proposed creating a legal framework for trading cryptocurrency exchange-traded funds (ETFs) to provide investors with easier investment options. The country's cabinet approved a draft amendment in April to classify crypto as a financial product, moving away from treating it solely as a payment tool.

Bitcoin treasury firm Strategy sold 32 BTC last week for $2.5 million, reducing its holdings to 843,706 BTC valued at $61 billion. The funds will be used for preferred stock distributions, marking a shift from the company's previous "never sell" stance.

U.S. spot Bitcoin exchange-traded funds have experienced 10 consecutive days of outflows, totaling nearly $3 billion, pushing year-to-date flows into negative territory for the first time in 2026. Altcoin participation in weekly flows is now concentrated in five assets, with Hyperliquid ETFs seeing 11 consecutive days of inflows.

The Cardano Foundation's proposed Summit 2026 has been canceled after failing to secure the supermajority needed for approval, showcasing the blockchain's new governance system. Delegated representatives, introduced as part of Cardano's Voltaire governance overhaul, were tasked with deciding on major treasury withdrawals for the event.

Coinbase has introduced direct INR banking rails in India, utilizing the Immediate Payment Service (IMPS) to streamline deposits and withdrawals. This eliminates the need for intermediaries and simplifies the onboarding process for local users, offering them access to global liquidity and leveraged instruments.

Aave's postmortem on the $230 million DeFi attack traced the exploit to a LayerZero bridge verification failure, not a flaw in its smart contracts. The lending protocol is reevaluating its asset review process to include factors like bridges, oracle dependencies, and operational security.

Wintermute, a major market maker in the crypto industry, has been providing liquidity on prediction markets, including Polymarket and Kalshi. The firm aims to enhance the reliability of probability estimates by offering sustained two-sided liquidity, tightening spreads, and supporting larger trade sizes.

Kalshi has received approval from the CFTC to offer perpetual futures tied to Bitcoin's price in the U.S., marking a significant product expansion for the company. The move is seen as a step towards improving capital allocation and risk management for American businesses.

The SUI token, native to the Sui blockchain, has dropped 20% this week due to a network stall causing downtime for the second consecutive day. Despite being 83% off its all-time high, it remains among the five worst-performing assets in the top 100 coins by market cap.