Coinbase Research: Bitcoin Breaks Key Support, Market Possibly in Early Stage of Long-term Downtrend

According to Arkham's monitoring, Grayscale has deposited a total of 9,453 ETH into Coinbase Prime over the past two hours, worth approximately $18.14 million.

Australian eSafety Commissioner has formally filed a civil lawsuit against Telegram in Australia’s Federal Court, accusing the messaging platform of systematically violating its cybersecurity obligations under the country’s Cyber Security Act. Following a year-long investigation, the regulator alleges Telegram failed to remove flagged content after receiving reports from Australian users—including terrorist execution videos, some of which remained accessible for up to three weeks post-report. The regulator further claims the platform did not detect known terror-supporting content, such as the 2019 Christchurch mosque shooting livestream and content related to the May 2022 Buffalo mass shooting; these pieces of content were not removed until nearly three months after upload. Additionally, the eSafety Commissioner accuses Telegram of failing to remove associated accounts, channels and groups to prevent future violations, failing to uphold uniform terms of service banning terror-supporting content across the platform, and failing to provide reporters with updates on case outcomes. Under Australian law, violations of relevant rules and standards carry a maximum civil penalty of 54.6 million Australian dollars. eSafety Commissioner Julie Inman Grant stated the content in question is linked to some of the most notorious acts of extreme violence in recent history, and remained accessible long after Telegram received notification of it. The lawsuit comes as Russia’s Federal Security Service (FSB) has just charged Telegram founder Pavel Durov with aiding terrorism and issued an international arrest warrant against him, leaving the platform facing legal pressure from multiple jurisdictions simultaneously.

Whale 0x2684 keeps accumulating $BTC and $ETH! Over the past month, the whale accumulated 1,050 $WBTC ($67.49M) at an average price of $64,277 and 66,345.5 $ETH ($116.62M) at an average price of $1,758. The positions are now up $10.8M.

According to Bitget’s market data, South Korean stocks are set to rally sharply tomorrow. The KOSPI 200 overnight futures hit the daily price limit, surging straight from around 870 points to a high of 936.70 points, with a 7.96% gain.

China’s leading civilian robotics firm Unitree Robotics disclosed in its IPO prospectus for the STAR Market that the company’s senior executives and core employees plan to participate in the offering’s strategic placement via two asset management plans: Unitree Employee No.1 Asset Management Plan and Unitree Employee No.2 Asset Management Plan. The total shares allocated to these two plans will not exceed 10% of the offering size, or 4,044,643 shares, with combined subscription capital capped at 271.5 million yuan. The final strategic placement volume will be confirmed after the offering price is set. All funds raised by Unitree Employee No.1 Asset Management Plan will be used for the strategic placement, totaling 218.5 million yuan in placement payments. Unitree Employee No.2 Asset Management Plan’s funds will also go entirely to the placement, amounting to 53 million yuan. Per the list, Unitree Employee No.1 Asset Management Plan includes 161 participants, including CFO Wang Feng, while the No.2 plan has 10 participants, including Chairman Wang Xingxing, whose individual subscription is 15 million yuan. Earlier reports indicated that Unitree’s A-share STAR Market preliminary inquiry date is August 5, with the offline subscription date falling on August 10.

According to on-chain analyst Ai Yi (@ai_9684xtpa), alongside a strong rebound in the storage sector, the whale that previously allocated $31 million to bullish positions following SK Hynix’s earnings release has turned an unrealized loss of $3.13 million into an unrealized profit of $2.01 million. The whale’s entry price was $981.59, while SKHX hit a low of $897.43 during the period.