Telegram, the messaging platform used by more than 1 billion people worldwide, is facing a major legal challenge in Australia over claims that it failed to stop the spread of terrorism-linked material.

Australia’s online safety regulator, the eSafety Commissioner, launched civil penalty proceedings against Telegram in the Federal Court on Thursday, according to an official statement.

The authority alleged Telegram breached its obligations under the country’s Online Safety Act to address “pro-terror” content by failing to act on multiple user complaints.

The case adds to growing global scrutiny of Telegram’s moderation practices, following legal pressure on CEO Pavel Durov in Russia and France as governments increasingly examine how major online platforms handle harmful content.

Australia alleges Telegram ignored repeated warnings

ESafety said its year-long investigation found that Telegram failed to remove certain unlawful material after becoming aware of it, with some reported content remaining visible for up to three weeks.

The regulator also alleged that Telegram did not take sufficient steps to prevent repeated violations, including removing accounts, channels and groups used to distribute pro-terror material.

According to eSafety, Telegram also failed to detect known extremist content, including footage from the 2019 Christchurch mosque shootings and the 2022 Buffalo mass shooting, before the material was later removed.

Related: Pavel Durov says Telegram to roll out native Gram crypto wallet

The regulator is seeking financial penalties, with violations of Australia’s online safety rules carrying potential fines of up to 54.6 million Australian dollars ($35.8 million).

Telegram has not issued an official statement on the Australian proceedings, but its official X account posted a video captioned “freedom of expression.”

Telegram did not immediately respond to Cointelegraph’s request to comment on this story.

Russia intensifies legal pressure on Durov

Australia’s legal action came a day after Russia’s Federal Security Service (FSB) charged Durov with facilitating terrorist activity and said it had begun procedures to place him on an international wanted list.

Russian authorities alleged that Telegram failed to remove channels, chats and bots that Ukrainian intelligence services, terrorist groups and extremist organizations used to coordinate attacks, recruit operatives and carry out cyber fraud.

Telegram has also not issued an official statement on the latest legal developments in Russia, but posted an image of Durov making a profane hand gesture.

Source: Telegram Messenger

Durov also remains under investigation in France following his August 2024 arrest at Le Bourget Airport. French prosecutors charged him with offenses including complicity in the distribution of illegal content, including material related to organized crime, through Telegram.

Durov has previously criticized what he described as growing threats to online privacy, warning that governments were rolling back protections for the free internet.

“What was once the promise of the free exchange of information is being turned into the ultimate tool of control,” he wrote in an October 2025 post on X.

Magazine: The real reason DeFi projects that survived 2022 crash are shutting down now

TLDR

• AAPL stock held near $338 before Apple’s fiscal third-quarter earnings report.
• Analysts expect revenue of about $108.9 billion and earnings of $1.89 per share.
• Apple’s $5 trillion valuation raises the pressure for stronger-than-expected results.
• Services growth, China demand and gross margin guidance remain key areas to watch.
• Rising memory costs could pressure margins and lead to higher device prices.

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Apple shares (AAPL) traded near $338 before the company’s fiscal third-quarter earnings report. Investors will review iPhone demand, Services growth, memory costs, and the leadership change.

The stock fell 0.56% to $338.19 before recovering to $338.61. Apple touched a $5 trillion market value, while AAPL stock has gained 25% in 2026.

Apple Inc., AAPL

Revenue Growth Faces a High Bar

Wall Street expects Apple to report revenue of $108.9 billion. That would rise from roughly $94 billion a year earlier. Analysts expect diluted earnings of about $1.89 per share. Apple reported $1.57 a year earlier. Management projected revenue growth between 14% and 17%. It also guided for a gross margin of 47.5% to 48.5%.

Apple has beaten forecasts for eight straight quarters. The current valuation may require more than a small beat. The stock trades near 40 times trailing earnings. Its 10-year average is closer to 25 times.

AAPL Stock Depends on Services and China

Services remains central to Apple’s growth. The segment includes the App Store, iCloud, Apple Music, AppleCare and payments. Services revenue rose 16.3% to a record $30.98 billion last quarter. Analysts expect 14% to 15% growth this quarter. Investors will also track Greater China revenue. Sales rose 28% to $20.5 billion during the fiscal second quarter.

Recent shipment data showed stronger iPhone demand in China. However, some purchases may have occurred before expected price increases later in 2026. Apple received approval to offer Apple Intelligence in Greater China using Alibaba’s Qwen technology. The rollout may support future demand but add little to current results.

Memory Costs Put Pressure on Margins

Higher memory prices are a near-term concern. Apple raised prices on several Mac and iPad models after component costs increased. Analysts also expect possible iPhone price increases. Higher prices may protect margins but could slow upgrades.

Investors will watch Apple’s outlook for the September and December quarters. A gross margin near the upper end of guidance could ease concerns. Apple continues to spend less on AI infrastructure than technology rivals. Annual capital spending is expected near $11 billion. The company depends more on outside models, cloud partners and on-device processing. Investors will seek updates on Siri and Apple Intelligence.

Earnings Could Test Key AAPL Levels

Apple’s four-hour chart is bullish. The stock trades above its moving averages. Support sits near $334 to $336. Further support appears near $331, $328, and $320. The first resistance level stands near $343. A clear break could open a move toward $350 to $352.

Options traders expect a move of about 4% after earnings. That creates a range between $325 and $352. Tim Cook is expected to lead his final earnings call as CEO. John Ternus will take over on September 1, adding leadership questions.

Coinbase CEO Brian Armstrong announced that the sweeping U.S. cryptocurrency regulation bill, the CLARITY Act, has entered the final stretch.

“Clear rules are almost here — we’re on the one-yard line,” the head of the US crypto exchange wrote, sharing photos from his meetings with lawmakers on Capitol Hill. Armstrong called the preparation of the bill a genuine bipartisan effort and firmly stated the industry’s position: “It’s time to get CLARITY done.”

Behind the Coinbase chief’s statement lies a severe time crunch: supporters of legalizing the crypto industry have only seven days left before the Senate leaves for its summer recess. At the same time, the 60 votes needed to overcome a procedural filibuster and guarantee the bill’s passage have still not been secured.

Behind Armstrong’s public appeals, intense political bargaining is taking place. According to sources, Senators Tillis and Gallego have just finalized a new compromise on ethics provisions that could unblock the stalled bill. The details of the agreement remain confidential, while the proposal would still need approval from the White House.

The bill already passed the Senate Banking Committee by a 15–9 vote on May 14. However, it has still not been brought to the Senate floor for a final vote. If lawmakers fail to reach an agreement within the remaining week, the process could be delayed until the fall.

SEC’s Plan B

While Coinbase is relying on Congress, regulators are preparing alternative scenarios. New SEC Chair Paul Atkins has stated directly that if lawmakers fail to pass the CLARITY Act, his agency will begin introducing rules for the crypto market on its own, using its existing authority.

Atkins himself admits, however, that this path would be worse. A comprehensive law passed by Congress would create a durable foundation for crypto companies that would not be shaken every time power changes hands in the White House.

Whether Armstrong and the senators can cover the final yard toward regulatory clarity within a week will become clear in the coming days.

TLDRs;

• Arm posted record revenue and beat Wall Street estimates, but investors focused on weaker statutory profitability.
• Stock-based compensation surged 47% and consumed more than one-third of quarterly revenue.
• GAAP operating income fell even as adjusted operating income rose sharply, widening the profitability gap.
• Strong AI and data-center demand remains intact, yet valuation leaves little room for accounting concerns.

Arm Holdings shares fell sharply after the chip designer released quarterly results that exceeded Wall Street expectations but also highlighted a growing disconnect between adjusted profits and statutory earnings. Investors appeared less concerned about strong demand for Arm’s technology and more focused on the rapid increase in stock-based compensation expenses.

The stock declined about 8% in regular trading on July 30, 2026, after already coming under pressure in after-hours trading following the earnings announcement. The reaction suggested that the market is demanding clearer evidence that Arm’s strong revenue growth can translate into equally strong GAAP profitability.

Revenue Hits Record Levels

Arm reported fiscal first-quarter revenue of $1.289 billion, up 22% year over year and the highest quarterly revenue in the company’s history. The result came in ahead of analyst expectations, while adjusted earnings per share of 45 cents also topped consensus estimates.

Arm Holdings plc American Depositary Shares, ARM

The company benefited from strength across both of its major business segments. Royalty revenue rose 22% to $715 million, reflecting increasing shipments of devices using Arm-based designs. Licensing and other revenue climbed 23% to $574 million, supported by continued demand for newer chip architectures.

One of the most notable areas of growth was data-center royalties, which more than doubled from the prior year. Arm’s Neoverse platform has been gaining traction in cloud and AI infrastructure, and management pointed to accelerating adoption among large technology customers.

Chief Executive Rene Haas said the company’s growth is accelerating, noting that Arm has now shipped 1.5 billion Neoverse cores over the past six years, including 500 million in the last nine months alone.

Compensation Costs Draw Attention

Despite the strong top-line performance, investors focused on a sharp increase in stock-based compensation and related payroll taxes.

Those expenses reached $433 million, up 47% from a year earlier. They represented 33.6% of quarterly revenue, compared with 28.0% in the same period last year. The increase was large enough to significantly affect the company’s statutory profitability.

Arm’s filing showed that excluded operating expenses increased by $142 million, accounting for a substantial portion of the company’s revenue growth. The figures reinforced concerns that a growing share of earnings is being adjusted out of the non-GAAP results highlighted by management.

The divergence was particularly visible in the operating-income figures. GAAP operating income fell 20% to $91 million, while adjusted operating income increased 29% to $531 million.

AI Demand Still Supports Outlook

The market’s negative reaction overshadowed an otherwise encouraging outlook.Arm projected next-quarter revenue of about $1.38 billion at the midpoint, above analyst expectations. Adjusted earnings guidance of 47 cents per share also came in ahead of consensus estimates.

The company said annualized contract value rose 13% to $1.732 billion, though that growth was slower than reported licensing revenue because of deal timing and backlog effects.

Arm also disclosed more than $2 billion in demand for its AGI-focused CPU products through fiscal 2028, with manufacturing capacity secured for the first $1 billion of orders. Oracle was identified as one of the customers associated with that demand.

North Korean Hackers Drive $600M in Stolen Funds

The first half of 2026 marked the most active period for onchain security threats on record, with security firm Blockaid noting a 3.4-fold increase in high-threshold exploits over all of 2025. According to Blockaid’s H1 2026 Onchain Security Report, total dollar losses reached $1.1 billion, trailing the first half of 2025 due to the absence of a single multibillion-dollar mega-heist.

However, the volume and technical sophistication of attacks escalated dramatically. Study data show attackers carried out 212 verified exploits during the six months, peaking in June with 57 separate incidents. Just four major incidents accounted for $707 million, or 64%, of total stolen funds. North Korea’s “Trader Traitor” hacking cluster, tied to the Lazarus Group, was responsible for approximately $609 million of overall losses, Blockaid said.

A majority of financial losses were concentrated in a handful of high-profile security breaches driven by North Korean state-sponsored threat actors. The period’s two largest exploits, restaking protocol KelpDAO ($292 million) and Solana perpetual DEX Drift Protocol ($285 million), were both attributed to Trader Traitor.

Rather than relying on smart contract bugs, these attacks targeted human and operational vectors. In the Drift breach, weeks of targeted social engineering granted attackers administrative multisig control, resulting in $285 million stolen in less than 12 minutes. In the KelpDAO exploit, attackers used social engineering against a LayerZero developer to poison RPC infrastructure and forge cross-chain bridge attestations.

Meanwhile, the report highlighted three major security boundaries that emerged in the first half of 2026 — areas historically outside standard audit scopes: EIP-7702 wallet delegation attacks, AI prompt injection, and off-chain bridge infrastructure. To highlight the threat posed by AI vulnerabilities, the report pointed to a May incident in which an attacker “used prompt injection to trick Bankr’s AI agent into approving an unauthorized transaction, taking $216K”.

Recovery rates remained starkly split depending on the attack vector. Stolen funds stemming from key compromises vanished almost immediately into mixers or cross-chain bridges. Conversely, protocol bugs occasionally allowed for partial or full recovery through swift white-hat coordination or contract pauses.

Looking ahead, Blockaid warns that Web3 ecosystems should prepare for continued pressure in the second half of the year. Key areas of concern include persistent social engineering campaigns by sanctioned nation-state actors, scaling exploits around EIP-7702 wallet delegation features, and a rapid rise in prompt-injection attacks against autonomous AI trading agents as adoption grows across decentralized finance.

Key Takeaways:

• Hungary has lifted a requirement for the third-party validation of crypto conversions.
• The government largely claimed that the rule was incompatible with EU law and was hampering cryptocurrencies in the local market.
• CoinCash has become the first crypto company in Hungary to receive a MiCA license.

Hungary has made another significant step in an effort to bring their digital asset regulations into line with the European Union. Parliament has approved the repeal of the mandatory crypto validation system in the country, and local exchange CoinCash has gained the first Markets in Crypto Assets regulation (MiCA) license from the National Bank of Hungary.

Hungary Removes Extra Layer of Crypto Transaction Checks

A bill to abolish the requirement for cryptocurrency validity in Hungary was passed in the Hungarian Parliament by 143 votes to 46, along with a single abstention. The measure removes the requirement for the licensed third-party validators to validate some crypto-to-fiat conversion and crypto-to-crypto conversion before that can take place.

The validation framework took effect on July 1, 2025. Before the change, a compliance declaration from an authorized validator was required for the conversion of digital assets. Validators undertake the task of customer identity and wallet ownership checks as well as source of funds. It’s also added criminal penalties for unauthorized crypto exchange services and attempts made outside the authorized process.

The reason for its withdrawal was that it would not have been compatible with EU legislation, the government said. The authorities admitted that the harsher system caused trouble to the use of cryptos and crypto service providers in Hungary.

Read More: BitPay Secures EU-Wide MiCA License, Unlocking Regulated Crypto Payments Across 27 Nations

CoinCash Receives Hungary’s First MiCA Authorization

The upgrade of the regulations follows Hungary granting its first authorization based on the EU’s MiCA framework to CoinCash’s Tiwala Solutions operator.

License Opens the Door to Expanded Crypto Services

CoinCash had suspended the operation of parts of its companies during the MiCA licensing procedure. Now that it has approval, the company will resume services and slowly increase its product line within the newly harmonized European framework.

The authorization further ensures that CoinCash will have the first-mover advantage in Hungary’s regulated crypto market and will become one of the first fully MiCA-compliant platforms in the country.

Hungary Moves Closer to the EU Crypto Rulebook

The new amendments aim to align Hungary’s regulatory framework with MiCA, rather than impose any further requirements.

Users will no longer have to go through an additional validation process for eligible crypto conversions, but crypto firms will have to meet MiCa’s licensing, governance, compliance and consumer protection requirements before providing services.

The removal of the validator element and the issue of the country’s first MiCA license seem to indicate a more pragmatic regulatory strategy. It streamlines operations for crypto companies and lays the foundation for a unified legal framework for operations throughout Hungary and the EU.

Read More: Ripple Secures Full MiCA License, Unlocking Crypto Services Across 30 European Markets

TLDR

• SoundHound AI shares fell 5.53% as MUSC expanded Emily into pharmacy services.
• MUSC’s Emily agent has supported more than 2.2 million patient calls since launch.
• Patients can request refills, check statuses, and access pharmacy information.
• The Epic-integrated system routes complex requests directly to pharmacy teams.
• The expansion strengthens SoundHound’s healthcare automation growth strategy.

SoundHound AI (SOUN) shares fell 5.53% to $5.89 after MUSC Health expanded Emily into pharmacy services. The stock dropped sharply from about $6.24 during mid-morning trading. Meanwhile, the healthcare deployment showed wider use of SoundHound’s voice technology across patient support operations.

SoundHound AI, Inc., SOUN

MUSC Expands Emily Across Pharmacy Phone Services

MUSC Health extended Emily to its retail and specialty pharmacy phone lines. The expansion allows patients to manage routine pharmacy requests through natural-language conversations. It also builds on a system that has handled more than 2.2 million patient calls.

Patients can now request prescription refills and receive current updates about refill progress. They can also check pharmacy locations, opening hours, and other service details. When needed, Emily transfers callers directly to the correct pharmacy team.

MUSC Health first deployed Emily in 2024 to improve appointment management. The organization later expanded the system across patient access and other nonclinical workflows. As a result, the technology now supports several stages of the patient service process.

SoundHound Targets Healthcare Service Au

tomation

SoundHound designed the platform to manage high call volumes and reduce routine staff workloads. The system handles common requests and gives employees more time for complex cases. Therefore, MUSC Health can shorten waiting periods without removing human support from sensitive interactions.

The pharmacy rollout connects with MUSC Health’s Epic system and supports automated patient conversations. SoundHound described the deployment as an early voice automation use within an Epic environment. The integration also gives patients one access point for several pharmacy-related services.

Healthcare systems face higher call demand, staffing shortages, and rising expectations for faster service. SoundHound positions its voice platform as a tool for managing those operational pressures. However, providers must maintain security, reliability, and responsible handling of patient information.

SOUN Stock Falls Despite Wider Commercial Deployment

The market decline contrasted with SoundHound’s expanded healthcare agreement and broader service reach. The move also followed a sharp intraday reversal after stronger early trading. The session reflected pressure on SOUN despite new commercial progress.

The company develops voice systems for healthcare, restaurants, automotive services, and customer support. Its products let users complete tasks through spoken requests and automated conversations. SoundHound also connects enterprise deployments with existing software and business systems.

MUSC Health operates as the healthcare system of the Medical University of South Carolina. Its continued rollout gives SoundHound a large operating example inside a complex healthcare network. The deployment also supports the company’s effort to secure recurring demand from institutional customers.

 

Crypto exchange Luno is reportedly cutting about 20% of its global workforce as it restructures operations and shifts more resources toward institutional clients, financial infrastructure and business-to-business services. 

According to a Bloomberg report on Tuesday, Luno CEO James Lanigan said the company had invested in automation and broader operational improvements that changed the resources needed to run the business. Luno will also trim costs in line with market conditions while investing in compliance, core infrastructure and retail products. 

Luno has previously made larger workforce reductions. In January 2023, the exchange cut 35% of its staff, affecting nearly 330 employees, as turbulence across the technology and crypto sectors weighed on its growth and revenue.

Founded in South Africa and owned by Digital Currency Group, Luno serves about 16 million users across Africa and the Asia-Pacific region. The company has expanded beyond retail trading into infrastructure and institutional services, including providing crypto infrastructure for banks and fintech firms.

Luno’s rationale for the layoffs reflects a wider industry trend, with several crypto companies citing AI, automation and operational efficiency when cutting staff.

Related: BitGo cuts 15% of staff to sharpen focus on AI, stablecoins

Crypto layoffs spread across industry

Jobs tracker CryptoJobsList recorded layoffs or restructurings at 12 crypto and crypto-adjacent companies in July, with disclosed figures totaling 894 jobs affected. CryptoJobsList has tracked more than 7,254 disclosed job cuts across 47 companies in 2026, with market conditions cited most often as the reason. 

The data serves as a broad industry indicator rather than a definitive crypto-only total, as it includes adjacent financial technology companies and is heavily skewed by Block’s 4,000-person reduction in February.

Layoffs by month. Source: CryptoJobsList

Earlier in July, crypto wallet company Exodus announced plans to cut 25% of its staff while reorganizing around a full-stack card-issuance and stablecoin-payments platform. Exodus said the move could produce between $10 million and $13 million in annual operating savings.

On Tuesday, blockchain infrastructure developer Gnosis invited companies hiring across engineering, product, design, marketing, developer relations and customer relations to contact it for introductions to former employees affected by a recent restructuring. The company said on July 17 that it had reduced its workforce following a review of its consumer-facing Gnosis App.

Magazine: Ethereum risks losing No. 2 spot as stablecoins gain ground

After yet another unsuccessful attempt at recovery, Solana fell back below its 100-day moving average, supporting the idea that sellers are still in charge of the medium-term trend. Bulls have little cause for optimism in the near future because the asset, which is currently trading at $73, is still trapped beneath all significant resistance levels with the exception of the 200-day moving average.

Technically speaking, the recent rejection is significant since SOL was unable to maintain its position above the 100-day moving average at $74.50. For a brief period in the second half of July, that level served as support, but the most recent daily candles indicate that sellers are taking back control. The 200-day moving average is still much higher near $79. 60, while the 50-day moving average is currently falling toward $75.70. 

This creates a layered resistance zone that will be challenging to break without a more significant market recovery. Despite multiple strong recoveries from June’s capitulation low, July’s price action has mostly consisted of lower highs. 

Before challenging the longer-term trend, each rally has lost steam, indicating that market participants are still taking advantage of strength to lower exposure rather than open new long positions. Over the past few sessions, volume has progressively decreased, indicating a decline in both buyers’ and sellers’ conviction. 

The absence of strong selling pressure reduces the likelihood of another sudden collapse, but it also shows that there is still not enough demand to produce a long-term breakout. Momentum is once again below the neutral threshold as the RSI has fallen to about 48. This shows that buying pressure is waning without driving Solana into an oversold situation, allowing for another leg lower in the event that support falters. 

Near $72 is the first level to keep an eye on. The June recovery base could be exposed at $68-$70 if there is a clear break below that support. Bulls must recover the 50-day and 100-day moving averages on the upside before momentum starts to move in their favor. 

The overall technical picture would only be significantly improved by a move above the 200-day moving average close to $80. Until then, Solana is still in a corrective phase, where rallies will probably face ongoing selling pressure before turning into a more significant trend reversal.

Zcash’s key technicall zone

After declining back toward its 200-day moving average, Zcash is testing one of its most crucial technical support zones. Bearish momentum has returned after an impressive recovery throughout July, pushing ZEC below the 50-day and 100-day moving averages and posing a threat to erase a significant portion of the prior gain. 

The price has dropped to about $462, and the 200-day moving average, which is close to $411, is still the last significant long-term support below the market. Over the past two weeks, the overall structure has significantly deteriorated, even though ZEC has not yet attained that level. After peaking close to $570, the asset produced a series of lower highs and lower lows, indicating that buyers have gradually lost control.  

The 100-day moving average, which was close to $472, has also lost ground, and the 50-day moving average has rolled over and is currently above price at $495. These two indicators now stand for immediate resistance, so any short-term recovery is probably going to encounter selling pressure in the $470-495 range. 

Since June and the beginning of July, trading volume has drastically decreased. Consolidation is frequently accompanied by lower participation, but it also represents waning buying interest following the prior rally when paired with weakening price action. 

Indicators of momentum lend credence to the cautious approach. Without yet entering oversold territory, the RSI has declined toward 43, falling below the neutral level. Before technical exhaustion starts drawing in stronger dip buyers, there is still potential for further declines. 

On the downside, focus would shift to the 200-day moving average around $410 if the market failed to stabilize around current levels. That level, which is the chart’s strongest long-term technical support, may decide whether Zcash stays in a more general recovery trend or moves into a more protracted correction.

Bitcoin’s consolidation must end

After recovering from the steep sell-off in June, Bitcoin is still consolidating around $64,000, but the overall technical structure remains unclear. The asset is still stuck below the 50-day and 200-day moving averages, preventing a clear return to bullish territory even though it has stabilized above its 100-day moving average. 

The market is looking for guidance, as seen by the recent price movement. After the sharp drop from above $80,000, Bitcoin reached a local low of about $59,000 before progressively creating a string of higher lows. The 100-day moving average has flattened and started to function as dynamic support around $63,300, a level that buyers have successfully defended over the previous few sessions, thanks to that recovery. 

Overhead resistance is still quite significant, though. While the 200-day moving average is still significantly above the current price at about $73,200, the 50-day moving average is currently close to $67,500 and is still trending lower. Before the longer-term outlook can improve, bulls must overcome a sizable resistance zone that they have created together. 

Compared to the panic selling in early June, volume has significantly decreased, indicating that neither buyers nor sellers currently have a clear advantage. Rather, following the previous volatility wave, Bitcoin seems to be entering a phase of accumulation or range trading. The picture painted by momentum indicators is similarly balanced. 

Without going into overbought territory, the RSI has rebounded to about 53, rising back above the neutral 50 threshold. This shows that momentum is increasing but not strong enough to support a long-term breakout. 

To overcome resistance around $65,500 and ultimately the 50-day moving average, more buying pressure will be required. The crucial support continues to be between $63,000 and $64,000. The $61,000 region would probably be tested first by a clean break below that zone, and June’s lows around $59,000 might then be retested.