Morning crypto market overview for July 21: Exodus lays off 25% of staff, Celsius co-founders to pay $6 million, and LSE prepares for night trading
The market opens with mixed signals: Bitcoin consolidates near $65,475, Ethereum shows weekly growth, and institutional players continue to reshape their strategies. Key morning events include mass layoffs at Exodus, the settlement of FTC claims against Celsius, and the London Stock Exchange's ambitious plan to launch 24-hour trading.
Top Capitalization Leaders' Dynamics
Bitcoin (BTC) started the day in a sideways trend. As of 07:35 (Moscow time), the leading cryptocurrency is trading at $65,475 (₽5,128,234 per coin). Over the past 24 hours, the low was $63,720 and the high was $65,721. Ethereum (ETH), the second-largest coin by market cap, shows a confident upward trend, reaching $1,923 (₽150,602).
Analysis of the top 10 shows that Hyperliquid is the daily growth leader (+3.93%), while Ethereum holds the best weekly result (+7.72%). The largest losses over 24 hours were recorded by TRON (-0.18%), and over the week by Hyperliquid (-1.03%). Among the top 100 coins, Lido DAO stands out with a daily gain of 13.98%, and Pump.fun with a weekly increase of 40.92%. The laggards are Pi (-8.58% daily) and DeXe (-17.79% weekly).
Exodus Focuses on Stablecoins
Exodus, a well-known crypto wallet developer, announced a 25% reduction in its workforce. This is part of a large-scale reorganization aimed at building a full-fledged infrastructure for stablecoin payments. The layoffs follow the acquisitions of Monavate and Baanx, which, according to management, will reduce dependence on third-party service providers. The restructuring is expected to save between $10 million and $13 million in annual operating expenses, with the full effect materializing by 2027.
Celsius Co-Founders Settle with Regulator
Former executives of the bankrupt crypto platform Celsius — Shlomi Daniel Leon and Hanoch "Nuke" Goldstein — are required to pay over $6 million to settle claims from the Federal Trade Commission (FTC). The regulator accused them of misleading clients about the platform's reliability. Ex-CTO Goldstein will pay $2.014 million, and former strategy director Leon will pay $4.1 million. They are also banned from promoting and selling products related to crypto assets. Recall that at its peak, Celsius managed $25 billion in assets, and at the time of bankruptcy, it owed users $4.7 billion. The FTC claims the company falsely stated it had $750 million in insurance and sufficient reserves.
London Stock Exchange Prepares for Night Session
The London Stock Exchange (LSE) has announced the launch of a night trading platform in the first half of 2027. The new platform will operate from 17:00 to 7:50 London time, separate from the main market, and will offer access to exchange-traded products tracking UK and US stock markets. This is a direct response to growing competition from crypto markets and tokenized stock platforms that operate around the clock. The main market will continue to operate during regular hours, from 8:00 to 16:30.
As an analyst, I note that the LSE's decision is a landmark step highlighting the evolution of traditional finance. Crypto exchanges, with their 24/7 model, have long set new standards for accessibility, and the LSE is forced to adapt. Regarding Exodus and Celsius, these cases show that the market is going through a phase of consolidation and "cleanup": companies are reassessing priorities, and regulators are closing old debts. For investors, this signals that industry maturity requires not only innovation but also an impeccable reputation.