Crypto Startup Apologizes for Using Polymarket to Bet on Fundraising, Catching Backers Off Guard

Bitcoin's slight recovery over the weekend has been dampened by concerns of a potential sharp reversal due to overexposed US equity markets and sustained selling within the crypto space. Analysts are bracing for a pullback, with options traders targeting $100,000 to $80,000 puts.

Bitcoin and crypto prices have been volatile, with a $300 billion sell-off causing concerns about a potential crash. The SEC's recent approval of in-kind creation and redemption mechanisms for crypto ETFs signals a shift in regulatory approach towards crypto assets.

The Satoshi Nakamoto statue in Lugano, Switzerland, was stolen and vandalized, with pieces found in Lake Lugano. Created by artist Valentina Picozzi, the statue symbolizes Bitcoin's decentralized philosophy and the mystery of its creator. Satoshigallery offered a reward for information leading to the statue's recovery.

Input Output Global (IOG) received approval for a $71 million treasury allocation to fund 12 months of Cardano network upgrades. The proposal, passed with 74% in favor, includes milestone-based payments overseen by Intersect governance body and additional oversight measures.

According to Dune analytics data, Base, the Ethereum Layer 2 network supported by Coinbase, has surpassed Solana in daily token issuances, driven by the rise of Zora, an on-chain social network where posts turn into financial assets. The redesigned Base App integrates social feeds with token creation, boosting ZORA token's popularity despite some criticism.

A wallet holding over 300 Bitcoin for a decade was emptied as Bitcoin's price dropped. The wallet, funded in 2013, saw a 152,300% increase in value, now worth $34.8 million. Recent movements of ancient Bitcoin suggest a market correction phase.

Bitcoin has shown minimal movement in the past week, while meme coins like Dogecoin have experienced significant fluctuations. The broader market context indicates pressure on traditional risk assets due to recent U.S. tariffs and the Federal Reserve's rate decision. Technical indicators suggest potential corrections for Bitcoin and meme coins.

Strategy's co-founder Michael Saylor revealed the company's potential to hold up to 7% of Bitcoin's total supply. With over 3% currently owned, acquiring 7% would amount to 1.47 million BTC, valued at about $169 billion. Saylor emphasized the importance of other entities also having a share in Bitcoin.

Analyst Mark Palmer raised Bitcoin giant Strategy's price target to $705, citing a projection of Bitcoin hitting $225,000 by 2026. Strategy reported $10 billion in Q2 net income, mostly from unrealized gains on its $71 billion Bitcoin holdings, causing a 4% stock drop.

Bitcoin and other cryptocurrencies experienced fluctuations as investors assessed the impact of the White House's new tariffs and the weakening U.S. labor market. Stock indices, including the S&P 500 and Nasdaq, saw declines, while the U.S. economy added 73,000 jobs in July.