Saylor Publishes 110-Point Rebuttal Against Bitcoin's BIP-110

Strategy executive chairman Michael Saylor published a sweeping 110-point essay over the weekend opposing BIP-110, the contested soft fork built to curb non-financial data on Bitcoin. He titled the text "110 Reasons BIP 110 Is a Bad Idea," billing it as a case for neutral rules and permissionless innovation.

The proposal would tighten consensus rules for roughly a year to limit techniques used to embed arbitrary data, targeting the inscriptions and Ordinals that crowded block space since 2023. Developer Luke Dashjr and the Bitcoin Knots camp frame it as anti-spam medicine, while opponents insist it rejects valid, fee-paying transactions.

Saylor's objection lands on precedent rather than payload, arguing Bitcoin cannot read intent and cannot separate an image from a proof or contract. Policing one contested use hands future factions a reusable template, he warned, with privacy tools, novel custody, and stablecoin settlement exposed to identical reasoning.

He also attacks the activation design, which drops the miner-signaling threshold to 55% from the 95% used in earlier soft forks. Signaling currently runs below 1%, the mandatory window opens in August, and activation targets roughly September 1 across the Bitcoin network.

Aztec Ships V5 Alpha With On-Device Private Proving

Crypto privacy project Aztec executed its V5 upgrade onchain after token-holder governance approved it, letting users generate end-to-end private transactions directly on phones and cheap consumer laptops. Co-founder Zac Williamson said this client-side proving method departs sharply from rival projects that generate zero-knowledge proofs inside centralized data centers built for heavy computation.

The release halves private transaction costs, doubles proving speed, compresses block production from 14 seconds to six, and pushes fully private token transfers under 5 cents. Vitalik Buterin, a financial backer among the $119 million raised, demoed an anonymous message board on the Ethereum rollup, which now clears Stage 2 decentralization.

Telegram Plans Non-Custodial Wallet Rollout To 1 Billion

Founder Pavel Durov announced the largest rollout of a non-custodial crypto wallet in human history, reaching roughly 1 billion users across the messaging platform this summer. He teased instant zero-fee crypto transactions while withholding technical mechanics behind the company's boldest digital asset push to date.

Telegram already operates Wallet in Telegram, formerly TON Wallet, a self-custodial wallet reporting more than 150 million registered users earlier this year. The announcement follows last month's rebrand of Toncoin to GRAM, alongside Telegram supplanting the TON Foundation as the ecosystem's primary steward and largest validator.

Hyperliquid Opens HIP-4 Markets To Permissionless Deployers

Hyperliquid confirmed through a Telegram announcement that permissionless deployment arrives for HIP-4 outcome markets in a future upgrade, launching first on testnet before reaching mainnet. The team called the change especially important for growth, given how vast the universe of tradeable outcomes has become across prediction markets.

Validators will vote on standardized outcome templates enforced onchain, after which deployers stake 500,000 HYPE, define individual markets, and settle them within one week or face slashing. Each deployer receives an allocation of 100 outcomes initially and may charge fees reaching 50% on the markets they define.

Data of the Day

Robinhood Chain attracted $431 million in protocol value locked and nearly $400 million in stablecoin market cap within three weeks of launching July 1. FalconX strategist Martin Gaspar counted roughly 6 million daily transactions and 250,000 daily active users on the Arbitrum-based rollup, citing Artemis data.

Cumulative DEX volume neared $9 billion, though memecoins accounted for over 80% of that flow according to Entropy Advisors figures. Gaspar pinned tokenized real-world assets as the network's genuine differentiator, with Robinhood Stock Tokens sitting at $14 million against Ondo's $851 million and xStocks' $481 million.

More Breaking News

• Russia's State Duma approved bill No. 1194918-8 in second and third readings, establishing five categories of regulated participants with most provisions taking effect September 1, 2026.
• Coinbase blamed a resource name collision for its 50-minute July 14 outage, a routine Kubernetes configuration change that pre-production checks failed to detect before deployment.
• Michael Saylor's Strategy sold 2,732,318 MSTR shares for $263.5 million, lifting its USD Reserve to $3.2 billion while its 843,775 BTC stack stayed untouched.
• Kalshi and Polymarket saw combined open interest fall 20% from a $2 billion peak, with sports volume sliding 55% and 70% respectively.
• Jack Mallers has stepped down as Twenty One Capital CEO and returned to Strike as Tether abandoned its three-way merger, sending XXI shares down nearly 18%.
• Grayscale filed an S-1 for the first US Worldcoin ETF, targeting a Nasdaq listing under GWLD with BitGo custodying the WLD token.
• Uphold has opened access to more than 4,000 US stocks and ETFs with fractional shares, routing crypto-to-stock trades through dollar conversion before executing the equity purchase.
• Pakistan's Federal Investigation Agency established a crypto unit inside its National Command and Control Centre, targeting money laundering and terrorism financing conducted through virtual currencies.
• The London Stock Exchange plans an overnight venue for the first half of 2027, running 5 p.m. to 7:50 a.m. across 2,600 exchange-traded products.
• Claude Fable 5 disproved the Jacobian conjecture after 87 years, producing a counterexample that mathematicians verified by hand within a day of publication.

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