Crypto news

For those who adore the thrill of betting against the dragon, HOLO’s short interest is stratospheric at 35.50%. That’s more than most sensible investors would risk on a Friday night gamble. Notable exceptions include MSTR and MARA, sitting near 10% and 35%, respectively. Historically, stocks with such kite-flying short interest often get their day in the sun with a savage short squeeze, much like the legendary GameStop or AMC flares-though don’t hold your breath, or you might gasp in vain.

On August 7, in a move so sudden it made lightning look slow, Minneapolis’s own SharpLink Gaming announced it had sealed deals with four mysterious investors-probably secret agents, or maybe just really rich guys with too much time and money-to raise that shiny $200 million. The goal? Expand their Ethereum stash faster than you can say “blockchain,” pushing their total ETH holdings into the ‘why-is-this-necessary’ zone, comfortably over $2 billion. Yep, just your average day in crypto paradise. 🎰

In today’s Crypto for Advisors newsletter, Alex Tapscott, explains the flywheel effect, and it’s impact on the crypto markets. Because, you know, if there’s one thing we love more than crypto, it’s complicated economic theories. 😂

This shift is happening because blockchain and DAO folks are desperately trying to find new ways to send money across borders without dealing with the kind of red tape that makes your eyes cross. Apparently, traditional fiat payments-those nice, familiar dollars, euros, and yen-have dipped from a stuffy 95% of total wages down to 85%. Small change? Hardly. But enough to make you wonder if the next step is a complete overhaul of how we pay bills, or at least how we check our bank balances without the screen trying to hypnotize us. 😏

Bitcoin, that digital dragon, decided to lift its head from the volcanic lava of volatility and climbed above $116,000, as if to say, “Look, I am alive and kicking, and perhaps a tad delirious.” Elsewhere, oil hovered around $64-probably pondering its own existence-and Treasury yields didn’t move much, because who needs excitement when the tariffs are dancing?

According to the sage scribes of SoSo Value, the Ethereum ETFs saw a net outflow of $465.06 million on August 4, a sum that would make even the most stoic banker raise an eyebrow. This was their largest outflow since their grand debut last year, a debut that seemed more like a triumphant entrance onto the stage of finance. Yet, just a few days prior, on August 1, these same funds experienced a net outflow of $152.26 million, marking the end of a 20-day streak of inflows, as if the market decided to play a cruel game of hide-and-seek with investors’ hearts.

Why the splurge? Apparently, stablecoins are now the “it” accessory for cross-border payments. Fancy transferring your dollars to Aunt Rita in Spain without also transferring your will to live in a slow bank line? Ripple thinks they have the answer. 💸🌎

According to DefiLlama, Hyperliquid didn’t just set a new monthly record; it practically moonwalked into the history books. This milestone marks a turning point as traders increasingly ditch their centralized crypto exchanges (CEXs) like old socks 👕, opting instead for the freedom of decentralized platforms.

Turns out, the OGs like Castle Island and shiny new players like Anchorage, Amber Group, and sats Ventures think BOB is the new hotness. Because who wouldn’t want to be part of the future where Bitcoin rules the DeFi playground? Nic Carter from Castle Island had the audacity to say,

The White House, in its latest dramatic production, has laid out a series of recommendations for the regulation of digital assets, a script that calls for the Commodity Futures Trading Commission (CFTC) to take the helm in overseeing spot markets for “non-security” digital assets. A move, one might say, as bold as it is necessary.