- Oil climbs above $82, adding to inflation concerns: WTI crude futures moved past $82 a barrel, increasing inflationary pressure and creating another headwind for risk assets as Treasury yields advanced.
- U.S. retail sales fall sharply in July: Government data showed retail sales declined 0.6% last month, well below economists’ forecast for a 0.1% increase. June sales had risen 0.2%.
- Retail sales excluding autos also weaken: Sales excluding automobiles fell 0.3% in July, missing expectations for a 0.2% gain and following a 0.2% decline in June.
Because large retailers have access to credit card spending data before the official report, investors were already prepared for a weaker reading, limiting the immediate market response.
Still, the disappointing consumer spending figures add to evidence that the Federal Reserve does not face an urgent need to tighten monetary policy.
Kraken Parent Reports Q2 Revenue Growth
Payward, the parent company of crypto exchange Kraken, generated $508 million in adjusted revenue during the second quarter, up 17% from a year earlier.
Adjusted EBITDA dropped 71% to $23 million from $80 million in Q2 2025.
Funded accounts increased 42% to 6.6 million, while assets held on the platform reached $40 billion. The company also said its DeFi Earn Bitcoin Vault attracted approximately $400 million in deposits.
Payward said weaker spot trading activity across the crypto industry was offset by stronger performance in traditional futures, equities and tokenized equities. The company also captured a larger share of the spot market for the third consecutive quarter.
U.S. Debt Moves Closer to $40 Trillion
The U.S. national debt has climbed to nearly $39.91 trillion, according to the U.S. Debt Clock, leaving less than $100 billion before it reaches the $40 trillion threshold.
30-Year Treasury Yield Hits 2001 High
Thursday’s $25 billion auction of 30-year U.S. Treasury bonds produced a yield of 5.22%, according to the Financial Times.
That marked the highest yield since August 2001, when the same maturity reached 5.52%.
Strive and Strategy Preferred Shares Rebound
Strive’s perpetual preferred stock SATA ended Thursday at $99.65, its strongest close since June 18, when it traded around its $100 par value. The shares had previously fallen to $79 before recovering roughly 25%.
Strategy’s STRC preferred stock also finished above $95, reaching its highest closing level since June 12. The shares have gained 34% from their $71 low.
Cronos Rallies on Tokenized Stock Launch
Cronos (CRO), the native token of the Cronos blockchain and Crypto.com ecosystem, gained nearly 5% to around 5 cents since midnight UTC.
It was the token’s strongest performance since July 16, when CRO surged 10%.
The rally followed Crypto.com’s rollout of tokenized equities, allowing users to gain exposure to U.S. stocks through its platform. The service provides access to 1,500 stocks and funds, with investments starting from $1.
Bitcoin Defends $62,800
Bitcoin is trading near $62,800, an important technical support level located around the lower boundary of the Ichimoku cloud.
A decisive move below this area could push BTC beneath the cloud, a development typically viewed as a bearish signal.
The Ichimoku cloud, developed by Japanese journalist Goichi Hosoda, helps traders assess market trends, momentum, support and resistance. Moves above or below the cloud can indicate potential changes in market direction.
Gemini Shares Drop After Q2 Results
Gemini shares fell 5% in Friday’s premarket trading after its second-quarter results highlighted continued weakness in its core exchange business.
Revenue rose 37% year over year to $45.5 million, supported by its services segment, while exchange revenue plunged 38%. The company reported a net loss of $107.7 million.
Bitcoin Slips Below $63K
Bitcoin fell below $63,000 as rising oil prices and Treasury yields put additional pressure on risk assets.
WTI crude climbed above $82 a barrel, while the 10-year U.S. Treasury yield increased to 4.660%.
