Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee for this outlier, Twenty One Capital, whose CEO and co-founder chooses to buck the trend against rising institutional adoption of Ethereum (ETH).
Crypto News of the Day: Twenty One Capital Snubs Ethereum and Solana Plans
Ethereum remains in the spotlight amid growing institutional adoption for the largest altcoin on market capitalization metrics.
The network has just turned 10 years old, and the industry is reflecting on its past, pondering its future, and understanding how a blockchain dream grew up.
As the world forays into the beginning of the next decade, corporate treasuries are rising. Standard Chartered predicts these financial resource managers will hold 10% of Ethereum’s supply. Notably, as of July 30, they hold just 1%.
As public companies ramp up their Ethereum holdings, Twenty One Capital chooses to buck the trend, sidestepping ETH and Solana (SOL) from its holdings. Instead, it will focus on Bitcoin (BTC), accelerating the Saylorization trend as indicated in a recent US Crypto News publication.
In an interview with Bloomberg, Strike founder and CEO of Twenty One Capital, James Mallers, revealed that the firm holds over 43,000 BTC and has $1.3 billion in unrealized gains.
The Bitcoin maxi also highlighted the firm’s plan to pioneer a new way to evaluate asset growth and denominate performance in Bitcoin terms, not fiat.
“We’re not trying to beat the S&P in dollar terms. We want to outperform in Bitcoin terms—this is the sovereign monetary network we’re betting on,” Mallers said in an interview.
Against this backdrop, Mallers articulated that Twenty One Capital will not touch Ethereum or Solana, calling Bitcoin the new sovereign currency and not a tech stock. Focusing on BTC, neither Ethereum, Solana, nor other smart contract chains have a place in Twenty One Capital’s portfolio strategy.
For Mallers, holding ETH or SOL would betray the company’s founding principles.
“We’re not allocating to ETH or SOL. That’s not our philosophy. Bitcoin is not a tech stock. It’s a sovereign monetary asset. This isn’t about yield farming or L2 TPS metrics. It’s about money,” he said.
Why Twenty One Capital Won’t Touch Altcoins
Mallers went further, drawing a line in the sand between monetary networks and what he sees as speculative tech platforms masquerading as currencies.
While some asset managers see diversification as essential, Mallers insists that Bitcoin is the most diversified asset in history because it transcends borders, regimes, and counterparty risk.
“We’re building exposure to a global monetary system—not buying into protocol upgrades or new tokenomics,” Mallers said.
He argued that Ethereum’s constant technical evolutions, like The Merge or the Pectra upgrade, turn it into another tech cycle.
Ethereum Dismissed, But Its Builders Keep Building
While Jack Mallers dismisses Ethereum and Solana as “tech stocks” unfit for sovereign-grade money, some in the ecosystem still focus on Ethereum’s role as the backbone of decentralized infrastructure.
Alon Muroch, co-founder of SSV Labs and core contributor to the SSV Network, offered a contrasting long-term vision.
“By 2035, Ethereum could power billions of daily transactions, integrating quantum-resistant cryptography and AI-driven smart contracts to create the foundations for the open digital economy,” Muroch said in a statement to BeInCrypto
Despite Mallers’ clear Bitcoin maximalism, Muroch points to a broader future for Ethereum that transcends its classification as a tech platform. Fundstrat Capital CIO Thoman Lee agrees.
“On Ethereum’s 10th birthday, ETH is arguably the most important macro theme for the next 10 years as Wall Street moves to financialize its business on the blockchain,” Lee said in a post.
Charts of the Day
Byte-Sized Alpha
Here’s a summary of more US crypto news to follow today:
- Another crypto giant eyes Wall Street with $15 billion valuation.
- Brian Quintenz’s CFTC nomination is in limbo over Kalshi board ties.
- Crypto Scandals: Pastor promises wealth from God while widow loses $17 million to romance.
- World Liberty Financial invests $10 million in Falcon Finance, a synthetic dollar project.
- BNB’s all-time high euphoria fizzles as mid-term holders dump bags.
- Nearly 33% of Bitcoin supply is vulnerable to quantum attacks due to this habit.
- 4 warning signs Ethereum may be headed for a price correction in August.
- Pump.fun under pressure after 60% token crash and market share collapse.
Crypto Equities Pre-Market Overview
| Company | At the Close of July 29 | Pre-Market Overview |
| Strategy (MSTR) | $394.66 | $396.50 (+0.47%) |
| Coinbase Global (COIN) | $371.44 | $372.50 (+0.29%) |
| Galaxy Digital Holdings (GLXY) | $26.76 | $27.40 (+2.39%) |
| MARA Holdings (MARA) | $16.61 | $17.21 (+3.61%) |
| Riot Platforms (RIOT) | $13.60 | $13.69 (+0.66%) |
| Core Scientific (CORZ) | $13.19 | $13.17 (-0.15%) |
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