The Wire — July 28, 2026

The Wire — July 28, 2026

Bitcoin drops below $63,300 as a Korean equity rout and a stalled Clarity Act put crypto on the back foot Bitcoin fell about 2.5% to roughly $63,269 after South Korea's Kospi crashed 10.84%, its worst session since April, with Samsung Electronics down 13.4% and SK Hynix off 9.7% leading a chip-driven selloff. The risk-off move rippled through crypto, and the AI and layer-1 baskets took the hardest hit. Ether and SOL both slid closer to 3.5% to 4.5% on the day. Adding to the pressure, the U.S. Senate shelved the Crypto Clarity Act to prioritize a Russia sanctions bill and nominations, leaving about two weeks of floor time before the August 8 recess. When majors sell off together, base stablecoin lending rates usually hold steadier than the borrow-driven APYs that spike on speculation, which is the spread worth watching this week. Source: CoinDesk, published July 28. How we score lending risk

Coinbase adds a 'Launches' tab for new Base and Solana tokens Coinbase opened a Launches tab that surfaces newly listed tokens on Base and Solana and routes users into its built-in DEX. The exchange's product page notes the feature is not available in every location and requires a self-custody wallet, which pushes trading of these early tokens onchain rather than through the custodial order book. For Solana, it is another distribution rail placing new assets in front of Coinbase's retail base at the moment of launch. Early-stage tokens carry the widest gap between headline yield and real liquidity, so depth and lockups matter more here than the APY on the label. Source: The Defiant, published July 27. Browse Solana yields

1inch launches Aqua, a shared liquidity layer spanning 13 chains 1inch made Aqua public across 13 EVM chains, a shared and self-custodial layer that lets liquidity be provisioned once and reused across venues. The launch pairs with a 10 million 1INCH incentive program aimed at bootstrapping depth. The pitch is capital efficiency. Instead of fragmenting the same capital across dozens of isolated pools, providers keep custody while their liquidity is routed where it is needed. Shared-liquidity designs concentrate more value behind fewer contracts, so the security of that shared layer becomes the load-bearing assumption for every venue that taps it. Source: The Block, published July 28. Compare DeFi yields

Securitize wins an SEC investment adviser license days after Peirce's vault warning Securitize Capital is now a fully registered investment adviser, a status that arrived just days after SEC Commissioner Hester Peirce told crypto vault and lending managers they may need exactly that license to operate. The timing reads as Securitize getting ahead of a compliance line the regulator is drawing around onchain asset management. For tokenized funds and RWA strategies, a registered adviser wrapper is what lets regulated capital sit inside DeFi rails without tripping securities rules. This is the plumbing that turns institutional interest in onchain yield into allocations that legal teams can sign off on. Source: Unchained, published July 27. See RWA yields

PayPal leans harder into stablecoins as crypto factors into Q2 PayPal reported $8.68 billion in second-quarter revenue and singled out stablecoin growth and AI-driven payment tools as strategic priorities, alongside an $81 million crypto-related earnings adjustment. The message is that a mainstream payments company now treats stablecoins as core infrastructure rather than an experiment. Wider stablecoin distribution through a network of PayPal's size expands the on and off ramps that feed onchain lending and the settlement layer underneath most DeFi yield. More stablecoin float in circulation tends to deepen the borrowing markets where those yields are actually generated. Source: Cointelegraph, published July 28. Explore stablecoin yields

Core Scientific signs a 529 MW AMD deal as bitcoin mining winds down Core Scientific agreed a 15-year, 529 megawatt hosting deal with AMD that carries up to $14 billion in base contracted revenue, with AMD holding rights to reserve as much as 1.9 gigawatts more through 2028. The pivot away from mining is now unmistakable. Colocation drove 83% of second-quarter revenue, about $136.7 million of $164.2 million, while self-mining revenue fell 66% to $21.5 million, and the company took a $41.9 million charge after terminating a chip agreement with Block. Miners repricing their power toward AI compute tightens the supply of new bitcoin issuance over time, a slow structural tailwind for the asset even as it dents mining equities today. Source: CoinDesk, published July 28.

Numbers

• BTC: $63,269 (-2.5%)
• SOL: $72.91 (-4.3%)
• ETH: $1,877 (-3.6%)
• Solana DeFi TVL: $4.77B
• Top USDC yield (Solana): Kamino at 6.67%

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