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Crypto Market Recap: Bitcoin Hits Record as Congress Considers Regulatory and Market Structure Frameworks
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$119,855, up by 0.6 percent in the last 24 hours. The day's range for the cryptocurrency brought a low of US$119,417 and a high of US$121,191.
Bitcoin price performance, July 14, 2025.
Chart via TradingView
Bitcoin continued to ride tailwinds into a fresh trading week, moving above US$123,000 briefly. Strong institutional demand and over US$2.7 billion in spot ETF inflows have added support, allowing Bitcoin to hold at the US$119,000 level.
Market analysts pointed to strong institutional inflows and broader participation from family offices in Asia. Ethereum followed suit, climbing past US$3,000, while Solana and XRP each rose by approximately 3 percent.
The global crypto market cap now stands at US$3.81 trillion. Analysts say this could mark a structural shift, with bitcoin increasingly viewed as a reserve asset by both institutions and some central banks.
Stocks tied to crypto companies are soaring in tandem: Coinbase and Robinhood hit new highs, while Circle stock has risen over 500 percent since its IPO.
Popular trader Daan Crypto Trades eyed two key liquidation-related zones to watch next: US$115,500- US$116,500 and the area above US$120,000.
10x head of research Markus Thielen postulates that Bitcoin’s position as a defense against a financial crisis in the US is driving the rally: “The narrative has completely shifted: no one is talking about blockchain use cases or Bitcoin’s technological promise anymore. Bitcoin has become a macro asset, a hedge against unchecked deficit spending.”
Eugene Cheung, chief commercial officer of crypto platform OSL, told Cointelegraph that the asset has the potential to reach US$130,000 to US$150,000 by year-end.
Ethereum (ETH) was priced at US$2,997.69, up by 0.1 percent over the past 24 hours. Its lowest valuation on Monday was US$2,989.38 and its highest was US$3,061.18.
Altcoin price update
- Solana (SOL) was priced at US$163.92, up by 0.7 percent over 24 hours. Its lowest valuation on Monday was US$162.99, and its highest was US$168.18.
- XRP was trading for US$2.92, up 2.3 percent in the past 24 hours. The cryptocurrency's lowest valuation was US$2.92, and its highest was US$3.02.
- Sui (SUI) is trading at US$3.85, up by 10.6 percent over the past 24 hours. Its lowest valuation was US$3.86, and its highest was US$3.99.
- Cardano (ADA) deviated from the trend, declining by 1.8 percent to US$0.7302 at the market's closure, its lowest valuation of the day. Its highest valuation on Monday was US$0.7591.
Today's crypto news to know
Bitcoin hits record US$123,000 as Congress kicks off Crypto Week
Bitcoin surged to a new all-time high of US$123,153.22 on Monday (July 14), driven by investor optimism ahead of major US congressional debates on crypto regulation.
The House of Representatives is set to consider three pivotal bills this week: the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act.
These proposals aim to create a federal framework for stablecoins, clarify regulatory jurisdiction between the SEC and CFTC, and ban the Federal Reserve from issuing a central bank digital currency.
On Friday, White House crypto adviser Bo Hines said he anticipates the House will pass the GENIUS Act without amendments, sending it directly to the President. However, Maxine Waters, Ranking Member of the House Financial Services Committee, and Stephen Lynch, Ranking Member of the Digital Assets Subcommittee, responded by announcing their intention to lead Democrats in opposing this Republican-led legislation, which they have labeled as dangerous.
In early 2025, Waters introduced a stablecoin discussion draft, later proposing a bill to restrict US officials and their families from crypto promotion or ownership. She also suggested the US Treasury Secretary shouldn't approve a foreign stablecoin regime if that nation’s leader publicly declared themselves a dictator. Ohio Representative Warren Davidson (R) separately proposed a CLARITY Act amendment to protect the right to use hardware or software wallets for lawful digital asset custody.
In a Monday MSNBC op-ed, Waters reiterated her opposition, claiming the proposed bills are designed by and for the crypto industry and pose a threat to consumers and investors
While Waters has put forward these amendments and alternative proposals, the current expectation is that the GENIUS Act will be brought to a floor vote under a restrictive rule, meaning her amendments are not expected to receive a direct vote today or this week as part of the GENIUS Act itself. Instead, her efforts serve to galvanize Democratic opposition and offer a contrasting policy vision, providing reasons for members to vote "no" on the Republican-led legislation.
OKX joins Global Dollar Network
Crypto exchange OKX joined the Global Dollar Network, a consortium promoting its regulated US dollar-backed stablecoin for wider adoption, leveraging its compliance as a key differentiator.
The Global Dollar Network has attracted dozens of partners since its launch in November 2024, including Robinhood (NASDAQ:HOOD), Kraken, Anchorage Digital, Beam, DBS and Standard Chartered. Its token, Paxos, is regulated by the Monetary Authority of Singapore, with reserves held by Singapore-based DBS Bank. In July, USDG expanded into the European Union, operating under the MiCA framework.
Institutional demand pushes Bitcoin ETF inflows to record levels
Spot Bitcoin ETFs saw a wave of institutional capital last week, with more than US$1 billion flowing in on Thursday alone.
BlackRock’s IBIT fund led the surge, becoming the fastest ETF to surpass US$80 billion in assets. The inflows helped propel Bitcoin above US$120,000, reinforcing its position amid growing mainstream adoption and policy momentum.
Since the start of 2025, Bitcoin spot ETFs have attracted a staggering US$22.7 billion in cumulative inflows, the vast majority of which was captured by US-listed funds.
Grayscale files for IPO
Grayscale confidentially filed a Form S-1 with the US Securities and Exchange Commission for an initial public offering on July 14 (Monday), according to an announcement on the firm’s website.
Grayscale joins a growing list of crypto-native companies capitalizing on surging market interest. On Saturday (July 12), memecoin launch platform Pump.fun raised over US$500 million in an initial coin offering (ICO), selling out 33 percent of its maximum 1 trillion supply in about 12 minutes.
Grayscale’s official press release didn’t disclose details such as the number of shares it plans to sell or the anticipated price range. Its Grayscale Bitcoin Trust ETF (NASDAQ:GBTC) closed up 1.44 percent on Monday.
Bhutan sells US$59 Million in Bitcoin but retains US$1.4 Billion in holdings
Bhutan has sold over US$59 million worth of bitcoin in recent days, taking advantage of the cryptocurrency’s historic run past US$123,000.
According to blockchain analytics platform Lookonchain, the country offloaded 512.84 BTC in the past four days. Even after the sale, Bhutan still holds over 11,400 BTC, now valued at more than US$1.4 billion.
The sales are coordinated by Druk Holding & Investments, the country’s sovereign wealth fund, which operates a clean-energy mining program powered by hydropower.
Unlike Germany, which liquidated seized crypto, Bhutan actively mines and times its sales to coincide with price peaks. Officials have emphasized the environmental sustainability of their operations in line with national policy goals.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Crypto Market Recap: Bitcoin Hits New All-time High as ETF Inflows and Legislation Align
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$118,036 at the end of the trading day, its highest valuation on Friday and a 4.1 percent increase in the last 24 hours. Earlier on Friday, Bitcoin saw a low of US$116,847.
Bitcoin price performance, July 11, 2025.
Chart via TradingView.
Bitcoin’s surge to a new all-time high of US$118,000 confirms a breakout above key resistance levels.
Glassnode confirms a US$4.4 billion increase in realized cap, indicating real capital inflows rather than just speculative trading. Based on data from the MVRV oscillator over the past four years, market analyst Axel Adler Jr. suggests that Bitcoin could reach approximately US$130,900 when the MVRV ratio hits 2.75, a level historically linked to profit taking and distribution. This would mark a 17 percent increase from current prices.
Some analysts have upside targets as high as US$150,000 in the weeks ahead.
The popular cryptocurrency's rise came as investors cheered bipartisan US Senate passage of the GENIUS Act — a bill that would establish regulatory guardrails for stablecoins. The act would codify requirements for fiat-pegged stablecoins, offering investor protections while legitimizing the sector in the eyes of institutional capital.
Optimism was also supported by a softer US dollar and the Trump administration’s crypto-friendliness.
Bitcoin exchange-traded funds tracking Bitcoin have posted record volumes, drawing billions in net inflows.
Ethereum (ETH) was priced at US$3,001.99, up by 6.6 percent over the past 24 hours and just shy of an earlier peak of US$3,003.01. Its lowest valuation on Friday was US$2,593.05. ETH's recent breakout is supported by bullish indicators suggesting a potential rally to US$3,400 if it can overcome resistance levels.
Altcoin price update
- Solana (SOL) was priced at US$164.25, up by 3.1 percent over 24 hours. Its lowest valuation on Friday was US$162.25, and its highest was US$167.55.
- XRP was trading for US$2.85, up 13.9 percent in the past 24 hours. The cryptocurrency's lowest valuation was US$2.69 as the markets opened, and its highest was US$2.91.
- Sui (SUI) is trading at US$3.51, up by 2.7 percent over the past 24 hours. Its lowest valuation was US$3.45, and its highest was US$3.56.
- Cardano (ADA) is priced at US$0.7419, up by 13.7 percent in the last 24 hours. Its lowest valuation on Friday was US$0.7281, and its highest was US$0.7721.
Today's crypto news to know
Ties between Trump coin and Binance under scrutiny
According to a Friday Bloomberg report citing three people familiar with the matter, cryptocurrency exchange Binance helped write the code behind USD1, the stablecoin issued by World Liberty Financial.
World Liberty Financial is one of the crypto businesses tied to US President Donald Trump and his family.
The report cites Abu Dhabi-based investment firm MGX's announcement of a US$2 billion investment in Binance on March 12 using a then-unnamed stablecoin. Later, in May, co-founder Eric Trump said that the company would settle the investment using USD1, which was minted on the BNB chain on March 24.
The report found that 90 percent of the USD1 coins used in that transaction were still in Binance’s wallets as of Friday, where they are potentially generating tens of millions of dollars in interest for Trump and his family.
The report comes with three stablecoin bills poised for Congressional hearings and votes next week. Members of Congress have been divided over certain aspects of the legislation, with Trump’s financial ties to the industry a topic of scrutiny across the political spectrum and among various stakeholders in the financial and crypto communities.
Changpeng Zhao, former CEO of Binance, served four months in federal prison after pleading guilty to one felony count of violating anti-money laundering laws as part of a settlement with US authorities in 2023.
In May, Zhao said he was seeking a presidential pardon from Trump. In response to the new report, Zhao denied Binance’s involvement with World Liberty Financial, as well as the purchase of any World Liberty Financial coins.
Trump-linked $WLFI token gets US$100 million buy from anonymous entity
A little-known group called Aqua 1 Foundation became the largest public investor in World Liberty Financial's crypto token $WLFI, buying US$100 million worth of the token in late June.
According to Reuters, though the foundation says it is based in the United Arab Emirates, public records offer no clarity on the group’s financial backers or its supposed founder Dave Lee.
The token purchase directly benefits the Trump family, which reportedly receives 75 percent of all $WLFI proceeds; the family’s estimated crypto earnings have now topped US$500 million.
While Aqua 1 said in a brief statement it was backed by "mission-aligned partners," it declined to offer transparency on its structure, citing privacy. US ethics experts have raised concerns over potential conflicts of interest, despite the White House stating Trump’s assets are in a trust managed by his children.
World Liberty and Trump Media & Technology Group (NASDAQ:DJT) did not respond to press inquiries.
HIVE Digital shares pop on new milestone
Hive Digital Technologies (TSXV:HIVE,NASDAQ:HIVE) opened higher on Friday after the company announced a milestone hashrate of 12 exahashes per second (EH/s), effectively doubling its output since the beginning of the year.
The company anticipates further scaling its operations to achieve 18 EH/s.
This increase in hashrate is already generating over US$250 million in annualized revenue for HIVE Digital. Projections indicate this figure could rise to US$400 million once the 18 EH/s hashrate is achieved.
“We’re building high-performance campuses at hyper speed, turning Paraguay into a global hub for sustainable Bitcoin mining data centers and laying the groundwork for the AI data center era now soaring,” said Frank Holmes, co-founder and executive chair of HIVE, in a press release.
HIVE’s rapidly expanding operations in Paraguay, a region strategically chosen for its abundant and affordable hydroelectric power, are a major driver of its growth and a focal point for the company’s future.
Beyond the technological advancements and production increases, the company is also committed to making a difference in the local communities. “We’re not just building data centers — we’re creating economic opportunity, delivering social impact by lighting the streets of Valenzuela at night and installing air conditioning in local grade schools, and developing digital infrastructure on a scale few thought possible,” said Gabriel Lamas, HIVE’s country president.
EU regulator warns crypto firms over misleading investors
The European Securities and Markets Authority (ESMA) warned crypto platforms against blurring the distinction between regulated and unregulated products under MiCA, the EU’s new crypto framework.
ESMA said many crypto firms are offering both compliant and non-compliant services on the same platform, creating investor confusion and undermining MiCA's consumer protections. Under MiCA, only firms licensed as crypto asset service providers are allowed to market specific financial products across the EU.
However, direct investments in commodities or crypto lending still fall outside the scope of those protections. ESMA also criticized some firms for using their regulated status as a marketing tactic to legitimize riskier services.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Crypto Market Recap: Trump Media Files for Third Crypto ETF, Tether Reveals Gold Holdings
Bitcoin and Ethereum price update
Bitcoin's (BTC) price peaked at US$111,744 as the market wrapped, a 2.7 percent increase in the last 24 hours. The day's range for the cryptocurrency also brought a low of US$108,644.
Crypto analyst TradingShot believes Bitcoin may not experience another rally this cycle, despite projections exceeding US$160,000. This assessment is based on Bitcoin's historical four year patterns.
According to TradingShot, Bitcoin has not broken out of its current upward channel to trigger the explosive rallies seen in 2017 and 2021. If the four year cycle holds, time is running out for such a breakout.
Ethereum (ETH) is priced at US$2,772.50, up by 6.3 percent over the past 24 hours. On Wednesday, the cryptocurrency hit a low of US$2,635.74 before rallying to finish the day at its peak, mirroring a broader market trend.
Altcoin price update
Bitcoin price performance, July 9, 2025.
Chart via TradingView.
- Solana (SOL) was priced at US$157.12, up by 3.7 percent over 24 hours. Its lowest valuation as of Wednesday was US$153.45.
- XRP was trading for US$2.42, up 4.5 percent in the past 24 hours. The cryptocurrency's lowest valuation was US$2.36
- Sui (SUI) was trading at US$3.05, up by 4.9 percent over the past 24 hours. Its lowest valuation was US$2.93.
- Cardano (ADA) is priced at US$0.6217, up by 5.6 percent in the last 24 hours. Its lowest valuation as of Wednesday was US$0.6027
Today's crypto news to know
US Senate committee gathers for hearing on digital assets
The US Senate Banking Committee held a hearing on Wednesday dubbed "From Wall Street to Web3" to discuss proposed legislation regarding digital assets, including the Clarity Act.
Massachusetts Democrat Elizabeth Warren, a longtime crypto critic, said she is in favor of laws regulating digital assets that strengthen the financial system in the US, but criticized aspects of the Clarity Act that she said would allow non-crypto companies to “put their stocks on the blockchain," evading US Securities and Exchange Commission guidelines.
“That is a serious problem for our country,” she warned.
Ahead of the hearing, Warren sent a statement to analytical publication the Block, accusing Republicans of enabling “industry handouts” to crypto lobbyists. Other vocal critics of the bill include New York Attorney General Letitia James and the ranking member of the House Financial Services Committee Maxine Waters.
Both she and Warren have questioned the ethics of US President Donald Trump’s business ties to the industry. At the hearing, former chief White House ethics lawyer Richard Painter, who was invited to speak by Warren, said:
“We cannot have the people who are in charge of passing legislation and enforcing legislation, implementing legislation, have conflicts of interest with their official responsibilities. You should be divesting from crypto if you’re going to be regulating crypto.”
Lawmakers are now facing a September 30 deadline to define cryptocurrencies, address Trump's crypto interests and finalize industry rules.
RLUSD gains traction via Transak integration and BNY Mellon custody
Transak, a Web3 onboarding infrastructure provider allowing users to buy and sell digital assets using traditional payment methods, officially integrated Ripple’s US-dollar pegged stablecoin, RLUSD.
The move expands the token’s reach to 8.3 million additional users across 64 countries.
“Transak has always strived to make finance truly accessible and that includes bringing on assets like RLUSD that balance blockchain ethos with compliance requirements,” said Sami Start, CEO and co-founder of Transak.
“With this integration, users gain access to one of the most thoughtfully designed stablecoins in the market, now available through a seamless and trusted fiat-to-crypto experience.”
The news was announced the same day Ripple chose Bank of New York Mellon to custody its USD reserves. This move by a traditional financial giant lends significant institutional credibility to Ripple's stablecoin, which was built as an enterprise-grade stablecoin to improve the efficiency of cross-border transactions.
“As primary custodian for RLUSD, we’re proud to support the growth of digital assets by providing a differentiated platform, designed to meet the evolving needs of institutions in the digital assets ecosystem,” said Emily Portney, global head of asset servicing at Bank of New York Mellon.
South Korea to reclassify crypto businesses as venture companies
South Korea’s Ministry of SMEs and Startups announced Wednesday that it will lift current restrictions preventing crypto-related businesses from qualifying as venture companies. Firms in the virtual asset sector are currently restricted in their eligibility for various tax breaks and financial support due to crypto regulations implemented last year.
However, the minister said that the proposed amendment reflects “a shift in perception” regarding the industry.
“It is expected that the virtual asset business operators based on new technologies with innovation and business viability will be newly recognized as venture companies, and existing venture companies will also be able to promote virtual asset-related businesses,” the statement explains, “which will lead to the activation and expansion of the venture ecosystem and promote the fostering of the virtual asset industry.”
This change will be supported by the establishment of “legal and institutional safeguards” designed to protect users. Public comments on the proposal will be accepted by the ministry until August 18.
Tether reveals it holds US$8 billion in gold in private Swiss vault
Tether, the issuer behind the world’s largest stablecoin, USDT, has disclosed it holds nearly 80 metric tons of gold worth US$8 billion in a private Swiss vault, according to a Bloomberg report.
The company, which manages over US$159 billion in circulating stablecoins, says most of the gold is directly owned by Tether, making it one of the world’s largest private gold holders outside of sovereign institutions.
CEO Paolo Ardoino confirmed the gold is stored in a highly secure location in Switzerland, though he declined to disclose the exact facility for safety reasons.
The firm also operates a gold-backed token called XAUT, with each coin redeemable for one ounce of physical gold.
Tether's increasing exposure to gold comes amid rising demand for safe-haven assets and ongoing concerns about US debt sustainability. However, new regulations in the US and EU may force the company to divest gold from USDT’s reserves if it seeks formal approval in those markets.
Trump Media files for Crypto Blue Chip ETF
Trump Media & Technology Group (NASDAQ:DJT) has filed to launch its third crypto-focused exchange-traded fund (ETF) under the Truth Social brand. Called the “Crypto Blue Chip ETF," the fund will aim to allocate 70 percent to Bitcoin, 15 percent to Ether and the remainder to Solana, Cronos and XRP.
This marks the latest move by the Trump-affiliated media company to expand its crypto investment footprint following two prior filings focused more narrowly on Bitcoin and Ether.
The ETF is set to trade on NYSE Arca, and is being developed in partnership with Crypto.com.
The company had earlier disclosed plans to raise US$2.5 billion to directly acquire Bitcoin. While Trump Media shares rose nearly 3 percent on the day of the announcement, it remains down over 40 percent year-to-date.
Sequans soars 43 percent on Bitcoin treasury strategy
Chipmaker Sequans Communications (NYSE:SQNS) saw its share price jump 43 percent after announcing a major pivot to a Bitcoin-based treasury reserve strategy. The firm raised US$384 million through equity and debt instruments to begin acquiring Bitcoin as a long-term corporate asset, emphasizing Bitcoin’s scarcity and independence from central banks as reasons behind the move and its potential to strengthen the company’s financial footing.
More than 40 institutional investors backed the fundraising, including convertible debentures and warrants that could bring in another US$57 million. The company plans to allocate future cash flows toward Bitcoin purchases.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
2025 Crypto Market: Q2 Review and Forecast
Legislative initiatives, policy shifts and infrastructure developments have moved at a dizzying pace, and the ongoing integration of traditional finance with decentralized technologies has driven credibility and institutional engagement.
Looking ahead, continued adoption of digital assets is slated to reshape the global financial landscape fundamentally.
Q2 review: Market maturation, institutional integration and regulatory milestones
Q2 highlighted a maturing market that can absorb shocks while maintaining focus on long-term growth.
While scrutiny of officials’ crypto dealings, including those of US President Donald Trump and his family, kept headlines lively, the broader trend was one of increased credibility.
Early in the quarter, trade tensions between the US and China, combined with ongoing concerns that tariffs will lead to an economic fallout, dampened investor sentiment and weighed on risk assets.
However, investor confidence in Bitcoin was evident in its resilience. After a slide to around US$76,000 at the start of April, it reached the US$90,000s mid-month, before hitting a new all-time high of US$111,000 on May 22.
Institutional accumulation and clearer regulatory signals backed this sentiment, exemplified by the US Securities and Exchange Commission’s (SEC) approval of rule changes allowing Ether exchange-traded fund (ETF) options.
The SEC also updated its guidance on crypto company disclosures, while US President Donald Trump signed a resolution repealing the IRS’s DeFi broker rule. Closing off the quarter, the Federal Housing Finance Agency directed mortgage backers Fannie Mae and Freddie Mac on June 25 to propose single-family mortgage loan risk assessments that consider cryptocurrency on US-regulated exchanges as reserve assets.
These policy shifts were accompanied by surging investor interest in tokenized assets, including tokenized gold — with PAXG and XAUt hitting US$1.54 billion in market cap — and RWA products, particularly within real estate. Momentum was further extended into stablecoin yield products and new ETF filings.
A US$300 million large-scale infrastructure deal between global financial group Macquarie (ASX:MQG) and Bitfarms (TSX:BITF,NASDAQ:BITF) for a high-performance computing center exemplified the growing confidence among fintechs in the long-term viability of digital assets. This growing confidence was further underscored by Robinhood's (NASDAQ:HOOD) expansion of its crypto footprint, notably with the early June acquisition of Bitstamp.
Combined, these events demonstrated growing market confidence in crypto's future.
Meanwhile, Ripple’s acquisition of global prime broker Hidden Road signaled a new phase in TradFi-DeFi integration, accompanied by the Fed’s easing of restrictions on banks’ crypto exposure.
The Office of the Comptroller of the Currency's clarification allowing banks to trade and outsource crypto operations signaled that US regulators increasingly view crypto infrastructure as critical to modern financial services.
Reports of Circle (NYSE:CRCL), BitGo, Coinbase Global (NASDAQ:COIN) and Paxos exploring bank charters further underscored the convergence of TradFi and DeFi, as did Coinbase's US$100 million credit facility to Riot Platforms (NASDAQ:RIOT); this type of structured financing is typically reserved for banks.
Further solidifying this trend, Stripe finalized a deal to acquire Privy, bringing crypto wallet infrastructure in-house and underscoring how fintech leaders are embedding digital asset rails into their core platforms.
Coinbase also acquired derivatives marketplace Deribit, a US$2.9 billion investment, part of a broader move to dominate digital asset infrastructure and market access. In the retail space, investor exposure widened through Galaxy Digital (NASDAQ:GLXY) and Circle’s Wall Street debut.
Policy also evolved. The GENIUS Act, a legislative companion to the STABLE Act, advanced in the Senate, proposing guardrails for stablecoins while carving out flexibility for banks to issue tokenized deposits, while crypto reserve legislation advanced in New Hampshire, Texas and Arizona.
Still, operational risks remained. A US$223 million exploit hit the Cetus protocol, and Coinbase suffered a US$20 million ransomware attack, reminders that digital assets remain a high-stakes environment.
Q3 outlook: Regulatory progress, tokenization growth and market expansion
Further regulatory clarity is expected in Q3, clearing the way to enable more use cases and a deeper integration between DeFi and TradFi. House Republicans are prioritizing the swift enactment of comprehensive stablecoin legislation, aiming to unify the Senate’s GENIUS Act and the House’s STABLE Act.
Meanwhile, the CLARITY Act, which has a broader focus on establishing a general market structure for all digital assets, is positioned for a vote in the House of Representatives after clearing two committees.
Regulators on the SEC’s Crypto Task Force are considering a conditional exemptive order to allow crypto firms to bypass certain broker-dealer, clearing agency and exchange registration requirements. The nuances of regulated staking activities are still being worked out, especially regarding how they apply to specific products like ETFs.
On the retail front, tokenization momentum shows no sign of slowing. A discussion group on RWAs at Consensus agreed that the resurgence of tokenization is largely driven by the utility and functionality it provides to assets.
Beyond efficiency, Carlos Domingo, co-founder and CEO of Securitize, added that tokenization brings assets with intrinsic, real-world value onto the blockchain, allowing new financial applications and broader access to those holdings.
Polymath CEO Vince Vadar told the Investing News Network that Canadian regulators are also leaning in on tokenization frameworks. The company’s Polymesh blockchain has already been used to tokenize C$50 million in real estate via its partner, Okra, and it expects to track C$4 billion in assets on-chain over the next 18 months.
“Now we're seeing more large-scale production,” he explained.
“We're seeing (things) like precious minerals coming up, and we're seeing commodities and other equities, a lot of startups that want to tokenize and use platforms like ours to tokenize their cap tables.”
At Consensus, Arthur Breitman, co-founder of Tezos, explained that his platform, uranium.io, enables the trading of physical uranium using a token, xU3O8, which allows for fractional ownership of a commodity that trades over-the-counter for roughly US$4 million. “Typically, uranium will look at pounds, but you can buy a fraction of a token. So really, you can buy a few cents of xU308,” he told the audience during his presentation.
Additionally, crypto infrastructure development by major fintechs and traditional finance entities, coupled with new public market entrants, could broaden investment opportunities.
For Q3, investors will be monitoring key publicly traded players such as Robinhood, fresh off its Bitstamp acquisition, as well as new Wall Street newcomers Circle and Galaxy Digital.
In the mining and compute infrastructure sector, CoreWeave (NASDAQ:CRWV) is in advanced talks to acquire Core Scientific (NASDAQ:CORZ), marking a move to merge compute-intensive infrastructure with mining operations, driven by crossover demand from AI and crypto sectors.
Beyond dedicated crypto firms, Strategy (NASDAQ:MSTR) and Japan’s Metaplanet (TSE:3350,OTCQX:MTPLF) added substantially to their crypto holdings in Q2, with no signs of slowing down.
For Bitcoin, price projections for Q3 range between a new resistance level around US$120,000 and support at US$75,000. ARK Invest increased its Bitcoin price forecast for 2030 from US$1.5 million to US$2.4 million in Q2, citing growing institutional interest and Bitcoin's expanding role as “digital gold."
These developments suggest Q3 will may continue building on the credibility and utility that defined Q2. With regulation advancing, institutional rails expanding and tokenization gaining real-world traction, digital assets are increasingly seen not as a parallel world to the world of finance, but as the next evolution of it.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: xU3O8 (uranium.io) is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Crypto Market Recap: CoreWeave to Acquire Core Scientific in US$9 Billion Deal
Bitcoin and Ethereum price update
Bitcoin (BTC) is priced at US$108,159, a 0.3 percent decline in the last 24 hours. The day's range for the cryptocurrency brought a low of US$107,591 and a high of US$108,551.
Bitcoin price performance, July 7, 2025.
Chart via TradingView.
Bitcoin hovered near US$109,000 at the start of the day as investors shifted from equities to crypto in response to tariff-related uncertainty under US President Donald Trump.
Meanwhile, MicroStrategy's (NASDAQ:MSTR) paused its weekly Bitcoin purchases for the first time since March, signaling a strategic reassessment amid recent volatility. Together, macro pressures and institutional moves helped support Bitcoin’s price.
Ethereum (ETH) is priced at US$2,546.07, up by 0.2 percent over the past 24 hours. Its lowest valuation as of Monday was US$2,521, and its highest was US$2,553.
Altcoin price update
- Solana (SOL) was priced at US$149.11, down by 1.3 percent over 24 hours. Its lowest valuation as of Monday was US$149.21, and its highest was US$153.06.
- XRP was trading for US$2.30, up 1.6 percent in the past 24 hours. The cryptocurrency's lowest valuation was US$2.28, and its highest was US$2.30.
- Sui (SUI) is trading at US$2.87, down by 0.7 percent over the past 24 hours. Its lowest valuation was US$2.84 and its highest was US$2.92.
- Cardano (ADA) is priced at US$0.5847, down by 0.4 percent in the last 24 hours. Its lowest valuation as of Monday was US$0.5764, and its highest was US$0.589.
Today's crypto news to know
CoreWeave to acquire Core Scientific for US$9 billion
CoreWeave (NASDAQ:CRWV) signed a definitive agreement to acquire Core Scientific (NASDAQ:CORZ) in an all-stock deal valued at US$9 billion. Core Scientific shareholders will receive 0.1235 shares of CoreWeave Class A common stock for each share of Core Scientific, representing a 66 percent premium over Core Scientific's June 25 closing price.
The deal had been in the works for over a year. A US$1 billion bid made by CoreWeave in 2024 was initially rejected as too low, but the Wall Street Journal reported in June that discussions between the two companies had resumed.
“This acquisition accelerates our strategy to deploy AI and (high-performance computing) workloads at scale,” said Michael Intrator, CoreWeave's CEO, Chair and co-founder.
“Verticalizing the ownership of Core Scientific’s high-performance data center infrastructure enables CoreWeave to significantly enhance operating efficiency and de-risk our future expansion.”
SEC’s crypto ETF guidance signals mainstream shift
The US Securities and Exchange Commission (SEC) took a major step toward regulating crypto exchange-traded products with its first formal guidance on crypto ETP disclosures, according to Reuters analysis.
Issued last week, the 12 page document issues new guidance, stating firms should describe risks and custody arrangements in “plain English.” The document could speed up approval of dozens of new crypto ETFs tied to a variety of coins, including Solana, XRP and even Trump’s meme coin, Reuters states.
Anonymous insiders told Reuters the SEC is also developing a more standardized listing rule to replace the case-by-case exemptions that currently delay launches. That change could shrink approval timelines from 240 days to as little as 75.
Musk’s America Party goes all in on Bitcoin, calls fiat "hopeless"
Elon Musk confirmed that his newly formed America Party will officially embrace Bitcoin after declaring that “fiat is hopeless” in a post on X. The move follows Musk’s earlier hints at increasing his own Bitcoin exposure and praising Bitcoin as a hedge against traditional currency.
Musk was a significant figure in Trump’s reelection campaign and even headed the Department of Government Efficiency before splitting with Trump over his budget bill and creating the America Party.
The shift could inject more digital asset discussions into US politics as Musk tries to build a third-party movement.
Despite hype from Dogecoin supporters, no plans for DOGE adoption were announced.
Metaplanet boosts Bitcoin stash past 15,500 BTC
Japan’s Metaplanet (OTCQX:MTPLF,TSE:3350) disclosed this week that it has purchased another 2,205 BTC at an average price of 15.64 million yen per coin, spending around US$213 million.
This purchase brings the firm's total Bitcoin holdings to 15,555 BTC, making Metaplanet one of the world’s largest corporate holders of the asset. The company tracks a proprietary metric called BTC Yield, measuring the effect of share dilution on per-share Bitcoin value.
For the second quarter, Metaplanet reported a BTC yield of 95.6 percent, down from 309.8 percent the previous quarter, but still strong enough to highlight aggressive growth.
Metaplanet’s total BTC investment now tops US$1.38 billion.
The Blockchain Group and Smarter Web Company expand Bitcoin holdings
The Blockchain Group (EPA:ALTBG) and Smarter Web Company (AQSE:SWE) have expanded their Bitcoin holdings.
In a Monday announcement, France’s The Blockchain Group said it acquired 116 BTC for about 10.7 million euros, bringing its total holdings to 1,904 BTC. For its part, the UK's Smarter Web Company announced the purchase of 226.42 BTC for 17.9 million pounds, bringing the company’s total to 1,000 BTC.
Bit Digital shifts corporate treasury from Bitcoin to Ether
Digital asset firm Bit Digital (NASDAQ:BTBT) has shifted its corporate treasury from Bitcoin to Ether, according to an announcement made by the company on Monday.
The change was punctuated by a purchase of more than 75,000 ETH tokens, funded by the sale of 280 Bitcoin and proceeds raised during a recent public offering that brought in US$172 million.
According to the announcement, Bit Digital held 24,434 ETH prior to the offering, and the additional ETH acquisition has brought the company’s total to approximately 100,603 ETH. This move establishes Bit Digital as the second-largest corporate holder of ETH after Coinbase Global, as per CoinGecko data. Following this news, Bit Digital's stock closed over 18 percent higher, and its market cap temporarily rose above US$1 billion.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Crypto Market Recap: Cryptos Rally as Trump's Big Beautiful Bill Passes Congress
Bitcoin and Ethereum price update
Bitcoin (BTC) is priced at US$108,948, down by 1.6 percent in the last 24 hours. The day's range for the cryptocurrency brought a low of US$107,741 and a high of US$109,997.
Bitcoin price performance, July 4, 2025.
Chart via TradingView.
Bitcoin’s rally to US$108,000 followed strong US labor data that boosted risk appetite early on, alongside continued inflows into Bitcoin spot ETFs (nearly US$50 billion), which helped anchor prices despite broader equity market pullbacks.
Market watchers also noted heightened volatility following the reactivation of two long-dormant Bitcoin wallets containing roughly 20,000 BTC (worth over US$2 billion), raising questions about potential future dumping.
Ethereum (ETH) is priced at US$2,549.85, down by 2.7 percent over the past 24 hours. Its lowest valuation on Wednesday was US$2,502.39 and its highest was US$2,600.55.
Altcoin price update
- Solana (SOL) was priced at US$150.30, up by 5 percent over 24 hours. Its highest valuation as of Friday was US$153.26, and its lowest was US$146.61.
- XRP was trading for US$2.24, down by 1.4 percent in 24 hours. The cryptocurrency's lowest valuation was US$2.21 and its highest was US$2.28.
- Sui (SUI) is trading at US$2.92, showing a decrease of 3.6 percent over the past 24 hours. Its lowest valuation was US$2.87 and its highest was US$3.07.
- Cardano (ADA) is priced at US$0.5817, down by 3.1 percent in the last 24 hours. Its lowest valuation as of Wednesday was US$0.5715 and its highest was US$0.6028.
Today's crypto news to know
Trump’s Big Beautiful Bill passes Congress, sending cryptos higher
US President Donald Trump’s flagship Big Beautiful Bill, featuring sweeping tax cuts, narrowly passed the House of Representatives on July 3 with a 218 to 214 vote and now awaits his signature.
Elon Musk criticized the bill for potentially inflating the deficit by trillions, while Trump suggested Musk’s criticism stemmed from policy clashes on EV incentives.
Coinbase Global (NASDAQ:COIN) CEO Brian Armstrong also raised concerns that a ballooning debt could paradoxically fuel Bitcoin’s status as a reserve asset.
Bitcoin traded near US$109,886 after the news, with other leading coins including Ethereum and Solana also posting gains. The total crypto market cap climbed to US$3.39 trillion following the vote.
Bitcoin power shift as whales sell 500,000 BTC to institutions
A major redistribution of Bitcoin is underway as long-time holders of large amounts of Bitcoin have sold off around 500,000 Bitcoin over the past year, worth more than US$50 billion at current prices.
According to a Bloomberg report, these sales are being absorbed almost equally by institutional buyers, including spot ETFs and corporate treasuries. That pattern is turning Bitcoin from a high-volatility speculative bet into a steadier institutional portfolio allocation. Despite consistent positive news for crypto in recent months, the asset has struggled to break through resistance around US$110,000, showing a consolidation phase.
Some of the whales cashing out are early holders dating back to Bitcoin’s earliest cycles, Bloomberg reports, who are swapping Bitcoin for stock-linked deals instead of simply liquidating.
Russian giant Rostec to issue ruble-backed stablecoin
State-owned Russian conglomerate Rostec is moving to launch a ruble-pegged stablecoin called RUBx and a payments network named RT-Pay before year-end, according to Russian state media.
The stablecoin will be anchored one-to-one with ruble deposits held in treasury accounts, and its code will be independently audited by CertiK. RT-Pay will integrate directly with Russia’s banking system, aiming for instant settlement and smart contract functionality even outside business hours.
Rostec says its platform will follow Russia’s anti-money-laundering and terrorism-financing requirements, in line with the Bank of Russia’s rules.
The stablecoin will run on the Tron blockchain, with its smart contract code to be published on GitHub.
Coinbase’s Base sees US$4 billion in outflows, Ethereum gains US$8.5 billion
Coinbase’s Layer 2 network Base has lost significant traction this year, registering US$4.3 billion in net outflows through cross-chain bridges, data shows.
This downturn is a sharp reversal from the US$3.8 billion of inflows Base attracted in 2024, when it led the sector in bridge activity. Meanwhile, Ethereum has staged a comeback, seeing US$8.5 billion in inflows compared to net outflows last year.
The slowdown in stablecoin supply growth on Base, now holding steady above US$4 billion since May, points to a maturing user base and declining trading volumes.
Bridges are key pieces of crypto infrastructure that allow assets to move between chains, supporting interoperability.
Nano Labs starts US$1 billion BNB buying plan with US$50 million purchase
Hong Kong-based chipmaker Nano Labs (NASDAQ:NA) has made its first major move in an ambitious plan to hold up to 10 percent of Binance Coin (BNB) in circulation, snapping up US$50 million of BNB this week.
The company disclosed buying around 74,315 BNB at an average price of US$672, funded partly by convertible notes.
Nano Labs ultimately plans to allocate US$1 billion to BNB holdings, signaling a vote of confidence in Binance’s ecosystem. However, its shares fell nearly 5 percent on Thursday and lost another 2 percent after hours, reflecting investor worries about its exposure to volatile crypto reserves.
Nano Labs’ reserves, including Bitcoin, now stand around US$160 million in total.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.