Key Takeaways:

  • Bitcoin whale amasses significant profits from short positions.
  • Drop Protocol announces orderly shutdown and airdrop cancellation.
  • Regulatory updates from FASB and FDIC.
  • MoonPay ventures into stablecoin issuance and management.
  • Developments in projects like Babylon, VanEck, and Canary.
  • Moves by companies such as Coinbase, Bitdeer, Public, and Binance.

Bitcoin Whale Reaps Massive Profits

As Bitcoin's price dipped below the $100,000 mark, a whale holding 20x leveraged short positions raked in over $15 million in floating profits. The whale has accumulated over $41.7 million in total profits through a series of BTC short trades.

Drop Protocol to Cease Operations

Drop Protocol, a Cosmos liquid staking protocol, announced an orderly shutdown due to the infeasibility of a sustainable development path given current ecosystem direction and market conditions. The shutdown process will be responsible and transparent, taking into account the interests of all parties. The token generation event (TGE) and Droplets-related airdrop will no longer proceed. Ways to distribute protocol revenue to program participants as compensation are being explored.

Regulatory Landscape Updates

The Financial Accounting Standards Board (FASB) is considering adding an accounting treatment project for “cryptocurrency transfers.” Additionally, the Federal Deposit Insurance Corporation (FDIC) is crafting guidance on tokenized deposit insurance to help financial institutions expand their digital asset businesses.

MoonPay Enters the Stablecoin Arena

Cryptocurrency payments company MoonPay Inc. will begin issuing and managing stablecoins on behalf of its clients. The company will leverage its existing money transmission licenses to offer this service in US states.

Other Market Developments

  • Babylon completed a major mainnet upgrade, reducing BABY's annual inflation rate to 5.5%.
  • VanEck submitted an 8-A form to the US Securities and Exchange Commission (SEC) for a Solana spot ETF.
  • Binance listed Lorenzo Protocol (BANK) and Meteora (MET).
  • OpenAI announced that GPT-5.1 has begun rolling out to all ChatGPT users.

This is just a snapshot of the many events shaping the ever-evolving cryptocurrency landscape. Investors and market participants should stay informed to make informed decisions.


Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.

Latest news

gold

Thursday, 23 July 2026

Indices

Gold Price Today, July 24: Gold Slips to $4,043 as Dollar and Yields Rise

Thursday, 23 July 2026

Indices

Nikkei 225 Falls 2.73% as Alphabet AI Costs Shake Japan Tech Stocks

oil

Thursday, 23 July 2026

Indices

Brent Crude Holds Near $100 as Red Sea Supply Risks Escalate

South Korea Tightens Rules on Single-Stock Leveraged

Thursday, 23 July 2026

Indices

South Korea Tightens Rules on Single-Stock Leveraged ETFs, Raises Cash Requirement to KRW 30 Million from July 31

intel earnings 2026 q2

Thursday, 23 July 2026

Indices

Intel Q2 Revenue Jumps 25% on AI Demand, Beats Estimates as Strong Q3 Outlook Lifts Shares

crypto

Thursday, 23 July 2026

Indices

Crypto Prices Today July 24: Bitcoin Steadies Near $65K as ETF Demand Counters Geopolitical Uncertainty

oil price news today

Thursday, 23 July 2026

Indices

Oil Price News Today: Brent Slips Below $100 as Traders Weigh US-Iran Tensions

USD to JPY exchange rate today

Thursday, 23 July 2026

Indices

US Treasury Says Yen Is Deeply Undervalued, Urges Bank of Japan to Continue Rate Hikes

gold

Wednesday, 22 July 2026

Indices

Gold Price Today, July 23: Gold Holds Above $4,100 as Oil Rally Limits Gains

tesla earnings q2 2026

Wednesday, 22 July 2026

Indices

Tesla 2026 Q2 Earnings: Revenue Surges 26% as AI Investments Weigh on Profits and Cash Flow