Ethereum Drops Below $4,300

CryptoQuant Head of Research Julio Moreno noted that Bitcoin has temporarily stalled after a 24% rally over two weeks, currently trading in a range of $76,000 to $82,000. The overall trend remains bullish, but a breakout above the 365-day moving average near $81,700 is needed to confirm a new bull market; failure to do so could see prices continue consolidating within the range. On-chain data shows the immediate and primary supply resistance zone is between $77,100 and $80,200, where long-term holders sold a maximum of 539,000 BTC within 30 days this year. Subsequent resistance levels stand at $83,600 and $88,700, with the $88,700 area historically prone to active traders taking profits. Should Bitcoin turn south, the 200-day moving average near $70,000 may act as support; another support zone lies between $62,000 and $65,000, where long-term holders have accumulated roughly 476,000 BTC this year.

Bitcoin Suisse plans to cut up to 60 jobs in Switzerland, roughly half of its local workforce, while shifting some software development and back-office functions overseas. The Zug-headquartered firm has around 200 global employees and manages over $3 billion in digital assets under custody. It will also shutter its Copenhagen IT development hub, retain its Bratislava business center, and establish a new hub in Vietnam. CEO and co-founder Andrej Majcen noted that operations in Bratislava and Vietnam have far lower costs, adding that the restructuring is driven by the company’s international growth strategy, not the current challenging crypto market conditions. Bitcoin Suisse also aims to expand its offerings beyond crypto trading, custody, staking, and lending to include wealth and asset management services for high-net-worth individuals and institutional clients. Its Liechtenstein subsidiary secured authorization under the EU’s MiCA framework in June.

Grayscale plans to rename the Grayscale Litecoin Trust (LTC) to "Grayscale Litecoin Trust ETF" once the relevant registration statement takes effect and the listing is completed, with its shares set to trade on NYSE Arca under the ticker symbol LTCN.

Pump.fun announced via a post that it is launching a "Holder Rewards" mechanism and will phase out its Cashback rebate model. Moving forward, token creators can choose between the standard "Creator Fee" model and the "Holder Rewards" model when launching new tokens. Under the Holder Rewards model, applicable fees will be deposited into Pump.fun’s distribution wallet, where the platform will automatically conduct multiple proportional distributions per hour. Users holding a token worth more than $20 are eligible for rewards, with larger holdings translating to higher rewards. Rewards are paid in the quote token of the trading pair; for example, tokens paired with SOL will receive rewards in SOL. Existing tokens under the Cashback and Creator Fee models can apply to be converted to Holder Rewards tokens, a change that is irreversible once processed. Trading pairs with SOL or USDC will retain their tiered fee structure that decreases as market cap grows; custom trading pairs can set fixed fees ranging from 0.01% to 3%, which cannot be modified once set.

Beating AI News Flash: Anthropic CEO Dario Amodei published a lengthy blog post on Saturday, announcing his company will implement new safety measures—including introducing third-party evaluation bodies—while calling on the entire industry to support broader measures to slow AI model development. OpenAI CEO Sam Altman quickly responded that he will adopt Amodei’s proposal to grant independent evaluation bodies access similar to that of employees. Elon Musk, who runs xAI, also commented: “Dario is right.” While all three leaders have warned about AI risks for years, there is little precedent in this highly competitive industry for truly coordinated efforts to slow development. For a long time, companies have been rolling out new products nonstop to boost user engagement, capture market share, and drive sales growth. It remains unclear how extensively these leading AI firms will actually implement new restrictions or safety checks.

Beating AI News reports that OpenAI CEO Sam Altman confirmed in an exclusive interview with Fortune that the company will not hold an IPO in 2026, noting that going public now is "ill-timed" given the current AI security landscape. Altman stated OpenAI is in no rush to go public, and will consider an IPO only when its business is ready and society can adapt to AI models of varying capability levels. He added that the company needs to prioritize resolving AI safety and alignment issues, and may slow the development of frontier AI models when AI capabilities reach new stages. Previous reports noted OpenAI had considered delaying its IPO to 2027, with a potential valuation of up to $1 trillion. Meanwhile, Anthropic CEO Dario Amodei recently called for slowing frontier AI development, proposing that independent evaluation bodies be granted employee-level access to the company’s internal systems. Sam Altman later said: "I agree with Dario Amodei, CEO of Anthropic. We need to control the progress of frontier models, which has been a major topic of discussion at OpenAI recently. The commitment to giving independent evaluators employee-level access is a good idea, and we will do the same. We will share more news soon."