Brian Armstrong, co-founder of Coinbase, has expressed his support for Bitcoin's progress and announced plans to incorporate Lightning into their platform. He refuted claims that Coinbase has ignored Bitcoin, stating that they have onboarded more people to Bitcoin than any other company. Armstrong's comments come amid criticism of Coinbase's alleged neglect of Bitcoin and its Layer 2 technology, Lightning Network, which promises faster and cheaper transactions. Former Twitter CEO Jack Dorsey responded to Armstrong's announcement, initially questioning Coinbase's focus on Bitcoin and Lightning, but later expressing willingness to collaborate. Dorsey reiterated the importance of an open protocol for money transmission, aligning with the philosophy of cryptocurrencies like Bitcoin.

Coinbase CEO Brian Armstrong and former Twitter CEO Jack Dorsey recently had a friendly conversation on Twitter about the potential and future of Bitcoin and its Layer-2 solution, the Lightning Network. The conversation highlights the growing interest in Layer-2 solutions for Bitcoin. Dorsey suggested that Coinbase should allocate more resources towards Bitcoin and Layer-2 technologies and promoted the concept of an open protocol for monetary transmission. The Lightning Network is a Layer-2 solution that addresses scalability concerns with Bitcoin by processing transactions outside of the main Bitcoin network, making transactions almost instant and essentially free.

Bitcoin, Ether, and most other top non-stablecoin tokens saw gains in Asian trading on Wednesday, with Bitcoin recovering above the US$29,000 support line. Binance's BNB token led the winners after the exchange relaunched in Japan on Tuesday. Litecoin also posted notable gains ahead of its halving event, while the Forkast 500 NFT index was down. Despite mixed corporate results causing US equity futures to decline, the total crypto market capitalization rose slightly in the past 24 hours to US$1.18 trillion.

MicroStrategy, a business intelligence company and one of the largest institutional holders of Bitcoin, reported a return to profitability in Q2. The company purchased 12,333 Bitcoin in the quarter, the most it has bought in two years, bringing its total holdings to 152,800 BTC worth approximately $4.4 billion.

A popular crypto strategist has issued a warning that the decentralized oracle network Chainlink (LINK) may experience a significant downward movement. Rekt Capital, a pseudonymous analyst, believes that Chainlink looks bearish after failing to break through its macro downtrend resistance. The failed breakout suggests that LINK is still range-bound, and in a worst-case scenario, Chainlink could correct all the way down to $6.13. Meanwhile, Bitcoin has lost its bullish market structure on the weekly chart, but is still managing to stay above its horizontal support at $29,245.

MicroStrategy, the software developer that’s amassed a giant bitcoin (BTC) stash in recent years, may raise up to $750 million by selling more stock and plans to use the proceeds to buy more bitcoin, among other things.

Bitcoin's price drop to a six-week low caused a decline in crypto stocks on Tuesday. This followed a federal judge's criticism of a split-decision in the ongoing SEC lawsuit against Ripple Labs. Bitcoin's market capitalization fell 1.8% to $28,790, with Coinbase shares declining 7.4%. On-chain metrics for bitcoin are still bullish, according to Bitfinex analysts, despite the recent decline. Other tokens, including Curve Finance's CRV, also experienced drops amid concerns about a $168 million lending position held by Curve founder Michael Egorov.

Bitcoin's trading volume in July was the lowest since November 2020, according to data from K33. This decline in volume coincided with a decrease in volatility, with Bitcoin's five-day volatility dropping below that of the S&P 500, tech stocks, and gold. The market is currently experiencing an unprecedented stable stage, which could potentially lead to a significant increase in volatility once it reignites. Despite the potential for a Bitcoin ETF and regulatory clarity in the sector, large investors are still hesitant to enter the crypto market due to ongoing uncertainties. However, one major announcement or event could encourage brave investors to take the first step and trigger increased trading volumes.

Republican presidential candidate and Florida Governor Ron DeSantis has pledged to end the Biden administration's "war on Bitcoin and cryptocurrency" if elected president. Speaking at a campaign event in New Hampshire, DeSantis criticized the current administration's hostile approach to crypto assets and promised to allow Americans to invest in them.

BTC PROXY, a DeFi protocol for BTC holders, has partnered with MPCVault, a secure multi-signature custody solutions provider, to offer select institutions an option for self-custody. This collaboration allows partners to deposit their Bitcoin into MPCVault-integrated wallets within the BTC Proxy protocol, which will mint BTCpx tokens for use within DeFi.