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Svmuu News: Crypto bank Augustus announced the completion of a $180 million funding round,bringing the company’s valuation to $1 billion. The funding is aimed at building a 24/7 financial infrastructure that connects traditional payment systems with stablecoin networks. This round was led by Tiger Global Management, with participation from Hummingbird, QED, and investors including the founding teams of Nubank, Ramp, Circle, and Deel.
Augustus stated that as stablecoins gradually transform the global financial system, the traditional correspondent banking model is facing efficiency bottlenecks. The company aims to establish a federally chartered clearing bank for fintech companies and financial institutions to replace traditional cross-border payment infrastructure.
Unlike stablecoin issuers, Augustus does not plan to issue its own stablecoin; rather, it aims to provide the underlying banking infrastructure that enables financial institutions to freely transfer funds between traditional payment networks and blockchain networks.Currently, Augustus provides euro clearing services through its regulated Finnish entity, processing tens of billions of euros in transactions annually. Its clients include international financial institutions, fintech companies, banks, and crypto firms, among them the crypto trading platform Kraken. (CoinDesk)

Svmuu News: According to an official announcement, Binance will automatically settle and delist the USDⓈ-MAERGOUSDT perpetual contract on July 24, 2026, at 06:30 (UTC).Users must close their positions by 06:00 (UTC) on July 24, 2026; after that time, they will no longer be able to open new positions.

Svmuu News Coinbase released a post-incident review report on the July 14 service outage, stating that the incident was caused by the misconfiguration of a critical network component triggered by a routine configuration update. The outage lasted approximately 50 minutes, during which user funds remained secure at all times.
Coinbase The company stated that at 12:34 p.m. Beijing Time on July 14 (12:34 p.m. Eastern Time), it deployed a routine configuration change to the shared production Kubernetes cluster hosting its core infrastructure services. This update was originally intended to facilitate a migration to a new service deployment model aimed at improving system performance and reliability.
However, because a resource name conflict was not detected by pre-production testing mechanisms, this configuration change unexpectedly affected Kubernetes resources related to the Istio Ingress Gateway within the cluster, rendering this network component unavailable. Approximately 3 minutes later, all inbound traffic to the cluster was interrupted, preventing internal services from accessing multiple infrastructure components.
Coinbase It was noted that multiple business lines were affected because a large number of asynchronous workflows rely on these infrastructure services, including processes such as transaction settlement, fund transfers, and bank card transaction authorizations. Affected services included:
Retail users were unable to complete off-chain transactions, top-ups, and withdrawals; some transactions in progress appeared to be stuck but were completed after service restoration;
Coinbase Card debit card transactions temporarily failed; credit card payments were unaffected, but some card management features were unavailable;
Coinbase DEX’s on-chain exchange services on Base and Solana were suspended;
Coinbase Exchange and Prime institutional clients experienced failed or delayed transfers and settlements;
Coinbase Developer Platform clients were unable to complete account openings, fund transfers, and deposits.
Coinbase According to the report, service was restored at 1:20 p.m. Eastern Time, and the incident was resolved by 1:23 p.m. The system then began processing the backlog, with most services quickly returning to normal and the remaining queue being processed within the following hours. During the recovery process, Coinbase encountered two additional challenges.First, the deployment tools themselves relied on the affected gateway to operate, preventing the standard rollback process from being executed and creating a circular dependency where “the failure affected the remediation tools.” Second, while the emergency recovery process (break-glass access) was effective, permission verification and manual review procedures extended the recovery time.
Coinbase stated that this incident did not involve any security risks to assets, but it highlighted the need for continued optimization of large-scale financial infrastructure in terms of automated deployment, system dependencies, and disaster recovery mechanisms. The company will further strengthen system resilience to reduce the likelihood of similar incidents occurring again.

Svmuu News: Buying on the dip drove a rebound on Wall Street, with chipmakers rising. Investors are betting that AI-related trades—which have fueled this bull market—still have room to run.
UBS’s trading division said the sharp sell-off in momentum stocks may be nearing an end, creating an opportunity for investors to rebuild their positions in AI and semiconductor stocks.Part of the reason the sector may be bottoming out is that a large number of speculative positions have been unwound.UBS’s prime brokerage data shows that hedge funds have reduced their long positions in momentum and semiconductor stocks by about 5% of total market capitalization—one of the largest declines on record.

Svmuu News: According to data from MSX.COM, possibly due to Bitcoin returning above $66,000, the U.S. cryptocurrency sector surged across the board, with Circle jumping more than 10%, Coinbase rising more than 9%,Robinhood rose more than 6%, TeraWulf and Strategy rose more than 4%, and Riot Platforms and CleanSpark rose more than 2%.