SpaceX posted its first earnings as a public company Tuesday — Q2 revenue of $7.8 billion beating the $6.9 billion consensus, adjusted EBITDA nearly tripling to $3.5 billion, and net loss narrowing to $541 million from $1 billion a year earlier. The bitcoin footnote is notable: SpaceX held onto its 18,712 BTC through the quarter but the value of those holdings fell from $1.64 billion to $1.10 billion as bitcoin dropped 33%. SPCX fell 6% after-hours despite closing the regular session up nearly 10%, with the stock's first major insider unlock — 912 million shares — arriving August 6.
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The Senate has yet to take up the CLARITY Act as negotiators wait for the White House to respond to a toughened ethics provision — a rewrite sent over a week ago that still hasn't received an answer. Simultaneously, Senators Warren and Blumenthal asked SEC Chair Atkins to investigate Trump's $TRUMP memecoin, citing $3.8 billion in investor losses against Trump's own $636 million gain. The SEC has already declared memecoins outside its jurisdiction. Thune is pushing to begin the Senate floor vote this week, but without 60 yes votes in hand, the bill risks a fatal defeat heading into summer recess.
Samsung announced at Galaxy Unpacked 2026 that it will add native stablecoin features — fiat-pegged savings and payments accounts — to 800 million new smartphones via Samsung Wallet across 61 countries. Analysts say the move positions Samsung as one of crypto's most powerful distribution plays: "Distribution is the scarce asset here, and Samsung owns a great deal of it," said Joseph Goh of Areta. The company's $408 million stake in Upbit operator Dunamu adds the infrastructure layer beneath it. If Samsung follows through, stablecoins like USDC would reach a billion-device installed base without requiring users to download a separate crypto app.
Bitcoin has plenty of reasons to panic but volatility is at its lowest since May. First U.S. spot BTC ETF to close. Solana proposal to ramp burns 14x. BTC back near $64K.
Tuesday, August 4, 2026
The bitcoin market has plenty of reasons to freak out — the Coldcard hack, anemic institutional demand, rising real Treasury yields, and a still-unresolved regulatory environment — yet panic is nowhere to be found. Bitcoin’s 30-day implied volatility index, BVIV, has dropped to 36%, its lowest level since May 31 and down sharply from highs near 60% in early June. A market that shrugs off bad news is often considered a bullish signal, poised for a notable upswing. Still, the data is not uniformly encouraging. U.S. spot bitcoin ETFs posted $61.53 million in outflows last week, snapping a three-week streak of tepid inflows. USDT’s market cap has fallen to its lowest level since October and USDC is also in a downtrend — both classical signals of tightening liquidity and subdued risk appetite. Real yields on longer-duration Treasuries have risen to their highest since 2008, denting the case for risk assets. Against that, Bitfinex analysts note that approximately 155,000 BTC moved into the $62,000–$65,000 cost-basis range, suggesting sellers at those levels are being absorbed — a development that could keep BTC range-bound until a stronger catalyst emerges. BTC is trading back near $64,000 today. Stay alert!
Crypto asset manager Hashdex is set to close and liquidate its $14.7 million spot bitcoin ETF (DEFI), in what appears to be the first liquidation of a U.S. spot bitcoin offering. Hashdex cited an evaluation of assets under management, liquidity, operating costs, and investor interest. The closure reflects a broader trend: U.S. spot bitcoin ETF inflows have dwindled as investors chased better returns from AI-related investments, with the funds posting net outflows in each of the past three months. BlackRock’s iShares Future AI & Tech ETF gained 39% through July while the crypto market fell roughly 36%. DEFI’s final day of trading will be Aug. 17, after which it will liquidate and distribute cash proceeds to shareholders. The closure does not signal the end of the broader market: BlackRock’s IBIT holds $47.08 billion, Fidelity’s FBTC another $9.95 billion in cumulative inflows, and the total U.S. spot bitcoin ETF market holds $77.6 billion in net assets. Hashdex itself remains in the U.S. ETF market with more than $200 million across its remaining products.
Solana validators began signaling support this week for two linked governance proposals — SIMD-0553 and SIMD-0550 — that would simultaneously increase SOL burns and reduce new issuance. SIMD-0553 introduces resource-based transaction fees, lifting daily burns from around 650 SOL (roughly $47,000) to between 7,500 and 9,000 SOL (up to $650,000 a day). SIMD-0550 doubles the annual disinflation rate to 30%, pulling Solana’s 1.5% terminal inflation floor forward to 2029 from 2032 and removing about 18.9 million SOL of emissions over six years — worth roughly $1.36 billion. Together, the proposals impact supply from both ends: burning more of what exists while issuing less of what is new. Initial support stands at 24.94 million SOL, roughly 38% of the way to the 15% threshold needed before an actual vote, led heavily by validator Helius at 16.03 million SOL. The proposals need roughly 40 million more SOL in backing before signaling closes on Aug. 18.
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