Exodus Movement, a cryptocurrency wallet provider, will eliminate approximately 25 percent of its staff as part of a reorganization to support development of a full-stack card issuance and stablecoin payments platform.

The company announced the cuts in a regulatory filing, citing the need to align costs and priorities following acquisitions of Monavate and Baanx. These transactions are intended to reduce reliance on external providers for payments infrastructure.

The restructuring is projected to result in pre-tax charges of $2.5 million to $3.5 million, mainly for severance. It is expected to deliver annualized cash operating expense savings of $10 million to $13 million, with full benefits realized in 2027.

Exodus employed 215 full-time staff at the end of last year. Shares of the company fell more than 8 percent to $4.62 in early trading on Monday.

The US Securities and Exchange Commission has sued Mining Automatic and its founder Zan Shaikh, accusing them of raising $22 million from investors through misleading promises of guaranteed returns from cryptocurrency mining.

The Massachusetts-based operation, conducted through Bright Vision Distribution LLC, attracted more than 380 investors between June 2023 and May 2025. According to the complaint, only about 13 percent of the funds supported actual mining activities, generating roughly $1.1 million in revenue.

The company allegedly paid investors approximately $1.8 million in returns, with some distributions funded by new investor capital. Marketing expenditures reached about $7 million, while Shaikh directed funds toward personal real estate, vehicles, entertainment and personal accounts.

Payments to investors ceased by March 2025, leaving more than $20 million in principal outstanding. The SEC described elements of the operation as resembling a Ponzi scheme.

The agency is seeking disgorgement, civil penalties, injunctions and bars preventing Shaikh from selling securities or serving as an officer or director of a public company.

The case aligns with the SEC’s broader regulatory efforts, including its strategic focus on blockchain, tokenization and market infrastructure under new leadership. It coincides with ongoing congressional consideration of legislation to clarify oversight roles for digital assets.

Bitcoin has shown relative strength in recent trading, advancing above $65,000 despite a sell-off in artificial intelligence-related technology stocks and broader risk aversion in financial markets.

The cryptocurrency decoupled from the Nasdaq-100 Index, which fell below 28,800 for the first time in five weeks. Bitcoin perpetual futures maintained a neutral annualized funding rate of 8 percent, indicating limited aggressive bullish positioning.

Options market data revealed a 30-day delta skew of 13 percent, with puts trading at a premium to calls. This suggests market participants continue to hedge against downside risks amid geopolitical tensions and rising Treasury yields.

Strategy raised $263 million through a stock offering, bolstering its cash reserves to $3.22 billion and addressing concerns over debt obligations and dividend payments. The five-year US Treasury yield increased to 4.33 percent, reflecting investor demands for higher compensation.

Bitcoin’s performance points to ongoing divergence from traditional risk assets, even as corporate earnings in the technology sector face scrutiny. A move toward $70,000 remains possible if current momentum persists, though derivatives indicators show cautious sentiment.

Abu Dhabi Global Market has recognized Tether Gold as an Accepted Spot Commodity, enabling regulated firms in the financial center to provide services related to the tokenized gold asset.

The designation builds on the earlier acceptance of Tether’s USDT as an Accepted Fiat Referenced Token. It provides greater clarity for businesses seeking to incorporate the product into their offerings.

Tether chief executive Paolo Ardoino noted that the status offers a defined pathway for compliant operations. ADGM officials said the move supports expansion of available products to promote growth in the jurisdiction.

Total value locked in Tether Gold has more than tripled over the past year, reaching approximately $2.86 billion. The asset is increasingly used as collateral, with Bitcoin lending platform Ledn planning to accept it for loans later this year.

Tokenized commodities represent about $4.46 billion, or nearly 13 percent, of the broader tokenized real-world asset market valued at roughly $34.73 billion.

Coinbase vice chair Ryan VanGrack has said Democratic lawmakers incorporated additional customer safeguards into the Digital Asset Market Clarity Act during Senate negotiations.

Speaking in a Monday interview, VanGrack described the provisions as strengthening the legislation to prioritize investor protections in the absence of existing comprehensive rules. The bill represents the most significant proposed framework for US cryptocurrency regulation.

The comments came as the Senate prepares for a potential vote before the August recess. Ethics-related concerns remain a key point of discussion among Democrats.

Coinbase had previously withheld support for an earlier version of the bill, contributing to delays in committee proceedings. Several executives, including chief legal officer Paul Grewal, have since endorsed its passage.

The legislation has received backing from President Donald Trump. Recent meetings between Republican senators and the president addressed industry ties, following disclosures of substantial presidential earnings from digital asset ventures. Senate Democrats conducted internal discussions on their stance last week.

The bill’s final text has not yet been released, and no floor vote has been scheduled.

White House crypto adviser Patrick Witt has postponed his military training to continue leading negotiations on the CLARITY Act as the legislation approaches a critical Senate vote.

Witt announced the deferral in a social media statement, noting that the training had been rescheduled to allow him to remain involved through the end of the process. This marks the second time he has delayed the commitment. The bill, which would establish the first comprehensive federal framework for cryptocurrency regulation, faces a deadline before the August 8 congressional recess.

Witt serves as executive director of the President’s Council of Advisors for Digital Assets. He had been scheduled to report for Judge Advocate General training with the Georgia Army National Guard on July 27.

In a related development, deputy director Harry Jung announced his departure from the council in two weeks. Jung highlighted progress in US cryptocurrency policy over the past two years. He had been expected to assume additional responsibilities during Witt’s planned absence.

The London Stock Exchange intends to introduce a dedicated night trading platform in the first half of 2027 to meet demand for extended trading hours.

The new venue will function independently from the main market and operate from 5 p.m. to 7:50 a.m. London time. It will initially focus on exchange-traded products, including funds tracking UK and US equities.

The primary exchange will retain its standard schedule of 8 a.m. to 4:30 p.m. The initiative responds to competition from cryptocurrency markets and other platforms offering continuous trading.

Chief executive Julia Hoggett cited growing interest from retail investors worldwide in leveraging London’s time zone for exposure to both domestic and international assets.

Celsius co-founders Shlomi Daniel Leon and Hanoch “Nuke” Goldstein have agreed to pay more than $6 million to resolve Federal Trade Commission allegations stemming from the cryptocurrency lending platform’s collapse.

Goldstein, the former chief technology officer, will pay $2.014 million, while Leon, the former chief strategy officer, will pay $4.1 million under separate court orders. The settlements follow a $10 million agreement reached by former chief executive Alex Mashinsky in April.

Celsius held assets valued at $25 billion at its peak but owed customers $4.7 billion when it filed for bankruptcy in July 2022. The FTC alleged that executives misrepresented the platform’s reserves, insurance coverage and lending practices, including claims of safety made shortly before the filing.

The orders also prohibit Leon and Goldstein from marketing or selling products involving deposits, exchanges, investments or withdrawals of digital assets. Payments will offset part of a larger $4.72 billion judgment for alleged consumer harm.

Mashinsky received a 12-year prison sentence in May 2025 after pleading guilty to fraud charges related to misleading customers on risks and profitability.

Celsius co-founders Shlomi Daniel Leon and Hanoch “Nuke” Goldstein have reached settlements with the Federal Trade Commission totaling more than $6 million over allegations related to the platform’s collapse.

US District Judge Denise Cote approved the orders, with Goldstein required to pay $2.014 million and Leon $4.1 million. The agreements resolve claims that executives misrepresented the safety and operations of the cryptocurrency lending platform prior to its 2022 bankruptcy.

The settlements extend regulatory consequences from the Celsius failure beyond former chief executive Alex Mashinsky, who reached a $10 million agreement with the FTC in April. Celsius held $25 billion in assets at its peak but owed users $4.7 billion when it filed for bankruptcy in July 2022.

The orders also impose bans on Leon and Goldstein from marketing or selling certain crypto-related products and services. The payments will be credited against a broader $4.72 billion judgment reflecting alleged consumer harm.

The FTC accused the company of falsely claiming sufficient reserves for withdrawals, a $750 million insurance policy on deposits and avoidance of unsecured loans. Executives continued to assure customers of safety shortly before the bankruptcy filing.

Mashinsky was sentenced to 12 years in prison in May 2025 after pleading guilty to fraud charges.

Grayscale Investments has filed a registration statement for the first US exchange-traded fund tracking Worldcoin, expanding its range of cryptocurrency-related products beyond major assets such as Bitcoin and Ether.

The proposed Grayscale Worldcoin ETF would list on Nasdaq under the ticker GWLD. BitGo Bank & Trust would provide custody for the WLD token, with BNY Mellon acting as administrator and transfer agent. CSC Delaware Trust Company would serve as trustee.

The preliminary prospectus does not yet specify management fees, seed capital, authorized participants or liquidity providers.

Worldcoin’s WLD is an ERC-20 token on the Ethereum blockchain associated with the World project, which employs biometric verification to distinguish individuals from automated systems. OpenAI chief executive Sam Altman co-founded the initiative.

The filing brings Grayscale’s total cryptocurrency-related exchange-traded products to 17, covering assets including Bitcoin, Ether, Solana, XRP, Dogecoin and Chainlink.