Catch up on the latest developments across the cryptocurrency landscape, including movements in Bitcoin pricing, blockchain technology, decentralized finance (DeFi), Web3, and regulatory actions.

The European securities watchdog has initiated efforts to scrutinize risks associated with crypto custody services. The European Securities and Markets Authority (ESMA), a crucial EU regulator instrumental in implementing the Markets in Crypto-Assets (MiCA) framework, is launching a specific review process aimed at crypto custody providers.

According to an official statement released on Wednesday, ESMA intends to execute a Common Supervisory Action (CSA) focusing intently on the operational durability of crypto-asset service providers (CASPs), placing particular emphasis on custody operations. ESMA articulated that this CSA “will assess the maturity of CASPs’ digital operational resilience frameworks in relation to custody activities,” noting that the evaluations will concentrate on elements such as key management and storage protocols, alongside other operational hazards.

This regulatory action follows closely on the heels of the MiCA transition phase concluding on July 1st, which naturally brings heightened scrutiny over how EU authorities will oversee adherence to the new rules, including potential ensuing enforcement measures.

A long-standing discussion concerning the necessity of Bitcoin's fixed supply cap has been reignited after Eli Ben-Sasson, the CEO of StarkWare, proposed on Tuesday that this cap ought to be replaced by an issuance rate of 4% annually. In a post made to X on Tuesday, Ben-Sasson argued that the existing 21 million limit “doesn't make sense” due to the inevitable, long-term loss of private keys, positing that “as time goes to infinity, all keys will be lost.”

Hardware wallet firm Ledger estimated back in November that as many as 4 million Bitcoins have either been destroyed or permanently misplaced. Despite this, Ben-Sasson maintained his support for having some ultimate ceiling on Bitcoin's supply, suggesting that a 4% yearly inflation rate closely mirrors the rate of human population expansion.

Bitcoin's fixed supply limit has historically served as a foundational argument supporting the "digital gold" narrative, drawing from Austrian economics which asserts that a static money supply safeguards against the devaluation of currency and theoretically preserves purchasing capability over extended periods. Many proponents of Bitcoin maintain that altering this cap would dismantle the core characteristic that distinguishes Bitcoin.

Advocates also contend that the ongoing loss of private keys actually enhances Bitcoin's supply-demand dynamics, given that assets tethered to inaccessible keys cannot be liquidated. Michael Saylor, Executive Chairman of Strategy, is a notable proponent of this feature; he has declared intentions to burn his private keys upon his passing as a “pro-rata contribution” to existing Bitcoin holders, thereby causing increased scarcity for their holdings.

Data sourced from Dune reveals that Tether's USDT has firmly established itself as the leading stablecoin for onchain transactional payments, whereas Circle's USDC has emerged dominant within decentralized finance (DeFi) and trading sectors, pointing toward a market for stablecoins that is becoming increasingly specialized.

According to Dune’s Digital Asset Brief, USDT settled approximately $95 billion in identifiable commercial payments during the first half of 2026, contrasting with $14 billion settled by USDC, capturing roughly 92% of all business-to-business payment volumes. Furthermore, on the Tron network, where the majority of USDT circulates, about 93% of the supply resides in standard wallets, underscoring its primary utility for payments and remittances.

In contrast, USDC reigns supreme in decentralized finance applications. On the Base network, it managed around $2.6 trillion in transfer volume throughout June, supplemented by another $1.6 trillion processed on Ethereum, reflecting its heavy utilization in trading activities and DeFi protocols.

Cumulatively, USDT and USDC together command approximately 83% of the stablecoin market’s total capitalization, valued at $315 billion. This report surfaced as US legislative bodies continue discussions regarding the CLARITY Act, which follows the 2025 GENIUS Act that initially established a federal regulatory structure for payment stablecoins.