Crypto News Today (July 31): BTC On a Knife Edge, Australia Sues Telegram, and Binance US Eyes Prediction Markets

In crypto news today (July 31), Bitcoin climbed -0.4% overnight and is sitting just below $64,000 following a turbulent week that saw the Fed freeze interest rates on Wednesday, although SEC Chair Paul Atkins hinted at hikes to come, which has caused a slight weakening of crypto assets and stocks alike.

However, Bitcoin ETF flows continue to print green, with yesterday closing a second consecutive day of positive flows, this time with +$233M bought across the various products, with over $180M coming from BlackRock’s IBIT fund.

The total crypto market cap is up around +0.5% from yesterday, climbing to $2.29 trillion. Daily trading volume across crypto sits at $59.1Bn, down slightly from yesterday’s figure of $63.4Bn.

The Fear & Greed Index is sitting at 25/100, down three points from yesterday, and putting it back into ‘Extreme Fear’ territory. The struggle to leave the Extreme Fear zone is a clear indicator that market participants aren’t fully convinced that the bottom is in for crypto just yet.

Crypto News Today: Australia Sues Telegram Over Alleged Failure to Remove Terror Content

Following the news that Russia has sanctioned Telegram founder Pavel Durov on terrorism charges, Australia’s online safety regulator has now launched legal action against the messaging platform, accusing it of violating the country’s online safety laws.

Authorities allege that the company failed to remove terrorist content, even after receiving user reports. The proceedings were initiated by Australia’s eSafety Commissioner, which filed a civil case in the Federal Court. The regulator argues that Telegram violated the Online Safety Act by failing to take adequate measures against extremist content.

If found liable, the company could face penalties of up to AUD 54.6 million (approximately USD 35.8 million). The eSafety investigation lasted about a year, during which the regulator claims that Telegram did not remove some illegal material, even after becoming aware of it. In certain instances, this content allegedly remained accessible for up to three weeks.

Authorities also assert that the platform failed to take sufficient steps to prevent repeat violations, such as suspending accounts, channels, and groups that distributed terrorist content.

Additionally, eSafety claims that Telegram did not promptly detect and remove previously identified extremist videos, including footage of the 2019 Christchurch mosque attacks and the 2022 mass shooting in Buffalo, New York.

As of the time of publication, Telegram had not officially commented on the lawsuit. However, the company’s official X account posted a video with the caption “Freedom of expression.”

AUSTRALIA SUES TELEGRAM OVER TERRORIST VIDEOS!

Australia’s eSafety Commissioner has launched Federal Court proceedings against Telegram, alleging it left videos of terrorist executions and mass shootings, including Christchurch and Buffalo, online for as long as three weeks… pic.twitter.com/jfi7dZMfp3

— Crypto Banter (@crypto_banter) July 30, 2026

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Binance.US Looks to Expand Into Derivatives and Prediction Markets

In other crypto news today, Binance.US is planning to seek federal approval to offer prediction markets, as part of its effort to diversify its offerings beyond spot cryptocurrency trading. This move places the company in a rapidly growing sector that has attracted major brokers and cryptocurrency platforms, all while facing increasing scrutiny from state regulators.

Stephen Gregory, the Chief Executive of Binance.US, stated that the company intends to apply in August for designation as a contract market with the Commodity Futures Trading Commission (CFTC). If approved, this designation would enable the exchange to list regulated futures, options, and event contracts for retail customers in the U.S.

This application aligns with the strategy Gregory detailed earlier in July, which focuses on pursuing derivatives, perpetual futures, and prediction markets. Binance.US is looking for additional revenue sources as it attempts to recover from regulatory challenges that have diminished its presence in the U.S. market.

Gregory has expressed that the exchange aims to reclaim its former market share, which was approximately 20% of the American crypto market. The company has reestablished dollar banking services in most of the states it operates in and is also implementing lower fees and improved liquidity to attract customers back.

A CFTC license would put Binance.US in competition with platforms like Kalshi and Polymarket US. Earlier this year, Gemini obtained its own federal market license, while Coinbase offers event contracts through a partnership with Kalshi.

Just In: Binance US Plans to Apply for CFTC DCM Status to Offer Prediction Markets

Crypto journalist Eleanor Terrett reported that Binance US plans to apply to the CFTC in August for designated contract market status, with the goal of offering prediction markets to customers.… pic.twitter.com/I44g1A0eLH

— Wu Blockchain (@WuBlockchain) July 29, 2026