💵 Western Union Launches Stablecoin Remittances via Visa in 37 Markets
Western Union is rolling out a new product called Stablecard, bringing stablecoin-based remittances onto the Visa network across 37 markets.
The offering targets cross-border payments and consumers in volatile economies who seek US dollar-denominated savings. By integrating with Visa's infrastructure, Western Union positions stablecoins as a practical tool for everyday financial access rather than a speculative asset.
The move signals growing convergence between traditional remittance giants and stablecoin rails, as demand for dollar-linked digital payments expands in emerging markets.
🔷 Ethereum EIP-8361 Would Cut Staking Yield by 54%
A new Ethereum Improvement Proposal, EIP-8361, would reduce validator staking rewards from 2.6% to approximately 1.2% — a 54% cut phased in over 18 months.
The mechanism works as a burn: as total staked ETH increases, validators lose a larger share of their consensus rewards. The proposal targets the growth of staked ETH supply, but its side effects could ripple into DeFi. Leveraged staking loops — where users borrow against liquid staking tokens to compound yield — rely on staking APY exceeding borrowing costs. At 1.2%, those loops could turn net negative.
If passed, the change would reshape the risk calculus for liquid staking protocols and DeFi strategies built around stETH and similar assets.
🔷 Ethereum proposal targets zero issuance at $112B staked
A new draft proposal, EIP-8361, would progressively burn validator rewards as Ethereum's staking ratio increases — eventually cutting net issuance to zero if staked ETH reaches $112 billion.
The mechanism ties the burn rate to the proportion of ETH staked: the higher the staking ratio climbs, the larger the share of validator rewards that gets burned rather than issued. At the $112B staked threshold, issuance would be fully offset.
If adopted, the proposal would make Ethereum's monetary policy more deflationary under high-staking conditions, directly linking network participation levels to token supply dynamics.
⚖️ Senators urge SEC to probe TRUMP memecoin after 98% crash
Democratic Senators Elizabeth Warren and Richard Blumenthal have formally requested the SEC investigate President Trump's official TRUMP memecoin, calling it an "illegal scam" that may have harmed nearly one million investors.
The token collapsed 98% from its peak, with the senators warning it could be a "rug pull" and raising concerns about insider profits. Their letter cited billions of dollars in losses across affected wallets and called on the SEC to examine whether the token facilitated fraud or improper enrichment.
The request comes as the broader Clarity Act — a crypto market structure bill — remains stalled in Congress, partly due to unresolved ethics questions surrounding Trump's crypto activities.
🔐 Five Convicted Over London Kidnap and Torture of Crypto Holders
A UK court has convicted five people for imprisoning and torturing crypto millionaires in London, in a case centred on forced access to digital assets.
Two of the five were also found guilty of conspiracy to blackmail. Notably, prosecutors secured all convictions without either victim taking the stand.
The case highlights the growing physical security risk faced by high-profile crypto holders, as criminals increasingly target individuals for direct asset extraction rather than technical exploits.
📊 US Google Search Interest in Bitcoin Near 5-Year Low
Google Trends data shows US searches for "bitcoin" have fallen to near-historic lows, even as the crypto industry faces a significant legislative moment.
The drop comes as the Clarity Act — a major crypto regulatory bill — is expected to go to a vote in the US Senate this week. The contrast between declining retail search interest and active regulatory development marks a notable divergence in the current market cycle.
Low search interest has historically coincided with periods of reduced retail participation, making on-chain and institutional data increasingly important signals to watch.
🟠 Bitcoin Rebounds to $63,900 as 32,000 BTC Flows to Exchanges
Bitcoin briefly dipped to $62,300 on Aug. 3 before recovering toward $63,900, though the bounce remains fragile amid weak spot demand and short-term holder losses.
A notable transfer of 32,000 BTC to exchanges was recorded during the period — a move often associated with increased selling pressure. Weak spot buying has so far limited the strength of any recovery.
Short-term holders continuing to sell at a loss signals that market confidence has not fully returned at current price levels.