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Vitalik Buterin, Ethereum co-founder, finalised Ethereum Improvement Proposal 7983 (EIP-7983), which significantly reduces the gas limit to prevent DDoS attacks. EIP-7983 was proposed in late June, but had to wait for Buterin to sign it off. The imposed gas limit will place a cap of 16.77 million gas usage, which is 2^24. Buterin wishes to stabilise the network and make transactions more predictable. The gas limit was initially meant to be 30 million. The Ethereum community has debated the topic vigorously and has arrived at a new figure of roughly 16 million. Toni Wahrstatter, an Ethereum researcher, co-authored EIP-7983 and released the final version on GitHub. Any transactions that exceed the 16.77 million threshold will be cancelled. The new protocol will prevent entities from monopolizing entire blocks.

EIP-7983 will introduce numerous enhancements to the Ethereum blockchain, including DDoS protection, improved zero-knowledge Virtual Machine design, and more equitable distribution of gas fees within each block. Validators may be able to set their gas limits, but will need to adhere to the 16 million global limit. A transaction that exceeds that amount will receive an error code. The functioning of this new protocol will be implemented in the EVM. Transactions, meanwhile, wait on the txpool before being processed. It is at this stage that transactions can be filtered out if they exceed the 16 million limit.

The economic benefits to the Ethereum ecosystem are currently minimal. A simple back-of-the-envelope analysis reveals that an average gas price of 0.2, with an ETH price of $2,500, utilizing a maximum transaction cap of 16.77, would result in a cost of $11. The impact of EIP-7983 would largely affect future transactions, adding more predictability for developers to know in advance what a transaction cost would entail. Vitalik Buterin has expressed a desire to improve the reliability and security of Ethereum. He envisions an ecosystem that is more straightforward, like Bitcoin, so that there are fewer bugs in the code. At this point, Ethereum is at risk of developing clusters of legacy code that could increase the likelihood of a fault. Hackers may attempt to exploit such vulnerabilities to compromise the network or even steal customers’ funds. Ethereum is well-designed in terms of modularity, but could benefit from a serious cleanup to avoid a disaster. 

A critical vulnerability exists in the Ethereum system, where a single transaction could completely consume a block’s gas limit. EIP-7983 addresses this flaw to decentralize the blockchain further and enhance its security. A DDoS attack could destabilize the blockchain by creating an uneven number of transactions, adding to bottlenecks in the system, and putting users’ funds at risk. EIP-7983 could be part of Vitalik Buterin’s vision for a minimalist Ethereum, as it allows simple transactions to coexist with complex transactions without the latter dominating the blockchain. EIP-7983, therefore, contributes to a more harmonious blockchain with less bottlenecks and more opportunities for regular users to make simple transactions without exorbitant gas fees.

The Pectra upgrade marked a significant milestone for Ethereum’s price, leading to an improvement in trading activity after its implementation. Transactions have reached levels comparable to those of 2021. This is a promising sign for both crypto traders and Ethereum developers. Many developers believe that the price improvements are directly related to the Pectra upgrade. There have been improvements in US regulations and corporate treasuries emerging regularly. There have even been Ethereum corporate treasuries, indicating a renewed sense of optimism for the crypto token. Ethereum traders are particularly interested in two major things: faster transaction speeds and lower gas fees. 

A Bitcoin wallet untouched for 14 years just came back to life, and it’s not going unnoticed. On July 3, 2025, blockchain analytics firm Spot on Chain flagged the transfer of 10,000 BTC—worth approximately $1.09 billion.

The event immediately triggered discussions across crypto markets, drawing attention not just for the size of the transfer but for the age of the coins involved.

The Bitcoin address was originally created in the network’s first year. Back then, BTC was worth less than $0.30 and could be mined using a basic CPU. The wallet received 10,000 BTC in 2011.

Source: Spot on Chain

According to Arkham, the coins were transferred in full to a newly created wallet in a single transaction. The receiving address has not moved the funds further.

The shift from $108,800 to $108,120 today reflects a volatile crypto landscape broader than isolated whale transactions.

The transaction does not appear to be exchange-related. Arkham’s team confirmed that the funds were not routed through any centralized platforms or mixing services. The fact that the coins were not split or partially moved adds to the intrigue.

Glassnode data shows that long-term dormant coin movements often correlate with volatility. Although not all such movements lead to selling pressure, they tend to raise market alert levels.

Open interest in Bitcoin futures dipped following the event. CoinGlass reported a 2.66% drop in open interest to $73.17 billion by July 4. 

Despite the large transfer, there is no evidence that the BTC was sold. The destination wallet remains inactive, and no exchange inflows have been registered.

Bitcoin Market Outlook

Bitcoin’s current market dynamics reflect several key forces likely to influence its price movement. Since April 2025, Bitcoin ETFs have attracted nearly $14 billion in net inflows—roughly $4 billion more than historical price patterns would suggest. This indicates a growing trend toward long-term holding rather than short-term trading.

According to Matrixport, the market is facing reduced capital efficiency. Inflows for 2025 are projected to fall short of the $37 billion peak reached in 2024, with an estimated annualized rate of $29 billion.

This implies that maintaining upward price momentum now requires greater capital input, with each dollar invested needing to generate a 2.0x to 2.6x effect on Bitcoin’s market cap.

Wall Street’s involvement is also expanding, with over $100 billion in crypto-related IPOs anticipated. Circle’s recent public debut exceeded valuation forecasts, highlighting institutional interest driven by operational scalability and tech-driven growth.

Seasonal trends support a bullish outlook for July. Historically, Bitcoin has closed higher in 7 of the last 10 Julys, with an average return of 9.1%. However, activity tends to slow in August and September, months often marked by weaker performance and broader economic uncertainty.

Ripple Labs is making a regulatory push that could reshape its stablecoin strategy. Ripple officially confirmed it had applied for a U.S. trust charter from the New York Department of Financial Services (NYDFS), a move that positions the firm to operate as a limited-purpose trust company.

The application aligns with Ripple’s larger ambition to enter the stablecoin market through a fully compliant and transparent framework.

If approved, the license would enable Ripple to offer custody and issuance services under state oversight, addressing regulatory concerns that have long plagued other stablecoin issuers, such as Tether and Circle.

NYDFS is one of the most rigorous regulators in the U.S. financial ecosystem. Its approval process includes audits, risk management protocols, and capital requirements.

According to Ripple’s head of legal, Stuart Alderoty, the trust license would “strengthen Ripple’s credibility among institutional clients and regulators alike.”

This comes as Ripple is winding down its years-long legal battle with the U.S. Securities and Exchange Commission.

On June 29, Ripple CEO Brad Garlinghouse confirmed that the company had dropped its cross-appeal in the ongoing legal battle with the SEC.

This decision signals a move towards resolution in the case, with the expectation that the SEC will also drop its appeal. Market analysts view this legal clarity as essential to Ripple’s expansion into new financial services.

The global stablecoin market has indeed seen substantial growth in 2025, reaching a total supply of $175 billion by June. This expansion is further highlighted by a reported $16.97 billion increase in stablecoin value throughout the year, according to blockchain analytics firm Glassnode.

Circle’s USDC and Tether’s USDT currently dominate with a combined market share of over 85%. Ripple’s proposed stablecoin would enter a competitive field, but its regulatory-first approach may help it stand out.

Blockchain analytics platform Chainalysis reports that U.S.-based users accounted for nearly 43% of all stablecoin transaction volume in Q2 2025.

That makes the U.S. market critical for any issuer seeking wide adoption. A NYDFS trust license would give Ripple the legal green light to operate in this space with greater legitimacy.

Ripple has already established the technical infrastructure required to support stablecoin issuance. Its XRP Ledger (XRPL) supports native stablecoin functionality and high-throughput transactions.

The company has also partnered with banks and payment processors across more than 40 countries, positioning it to distribute its stablecoin through existing channels.

Moreover, analysts at Bernstein Research noted in a June 28 report that Ripple’s network architecture is well-suited for programmable finance applications, including cross-border payments, payroll, and asset tokenization.

Approval from NYDFS could take several months, with most applications taking anywhere from six to twelve months to process.

In the context of increasing regulatory scrutiny, Ripple’s move reflects a shift toward institutional-grade infrastructure in the crypto space.

Rather than sidestepping regulations, Ripple appears to be embracing them to support a long-term vision for its stablecoin.

Strategy, the world’s largest corporate holder of Bitcoin, did not add to its BTC holdings last week, ending a streak of weekly purchases that extended to April 14.

“Some weeks you just need to HODL,” Strategy Chairman and co-founder Michael Saylor posted on Twitter (aka X) on Sunday, hinting at the company’s pause. 

Strategy currently owns a total of 597,325 BTC — worth over $64 billion — bought at an average price of $70,982 per Bitcoin for a total cost of around $42.4 billion. That’s the equivalent of over 2.8% of the flagship crypto’s total supply. 

Strategy Reports Unrealized Profit Of $14 Billion On BTC In Q2

According to a recent 8-K filing with the US Securities and Exchange Commission on Monday, Strategy added nearly $7 billion of Bitcoin during Q2.

The company reported an unrealized gain of $14.05 billion on its Bitcoin holdings as the price of BTC jumped from around $82,000 to $108,000 during the three months ended June 30. As a result, it also incurred a deferred tax expense of roughly $4.04 billion.

Subsequently, Strategy also announced it has signed a sales agreement allowing it to issue and sell up to $4.2 billion of its 10% Series A Perpetual Stride Preferred Stock (known as STRD), at the price of $0.001 per share under a new at-the-market program.

Like other Strategy offerings, including the $21 billion STRK ATM, the new offering is an equity-raising mechanism designed to allow the company to sell newly issued shares over time to acquire more Bitcoin.

Bitcoin was recently down 0.5% on the day to $108,066, but remains up around 2.4% over the last month, according to CoinGecko.

Treasury Companies Are Following Strategy’s Lead

Strategy’s latest announcement comes as those other companies are doubling down on their BTC treasury plans in a bid to emulate the firm, which began amassing the top crypto under the leadership of Saylor in 2020.

Metaplanet, which bills itself as the Strategy of Japan, announced on Monday that it had added another 2,205 BTC to its balance sheet, bringing its total holdings of the token to 15,555 BTC — over $1.6 billion worth. 

Semler Scientific, Trump Media, and GameStop are among other companies that have also recently invested in the world’s oldest cryptocurrency.

Japan’s largest corporate Bitcoin treasury, Metaplanet, has amassed an additional 2,205 Bitcoin, per a new disclosure on Monday.

Metaplanet bought the Bitcoin for an average purchase price of around $108,237 per BTC for a total spend of $238.7 million as it continues its aggressive acquisition spree.

Metaplanet’s latest investment brings its total Bitcoin holdings to 15,555 BTC, worth approximately $1.69 billion based on current market prices, securing its position as Asia’s most audacious corporate Bitcoin adopter. At the time of writing, Bitcoin traded at $108,717, having risen by a paltry 0.7% over the last 24 hours.

*Metaplanet Acquires Additional 2,205 $BTC, Total Holdings Reach 15,555 BTC* pic.twitter.com/VqKGOwCs6N

— Metaplanet Inc. (@Metaplanet_JP) July 7, 2025

According to data tracked by BitcoinTreasuries.NET, the Tokyo-listed investment company now ranks as the fifth biggest corporate holder of the world’s largest crypto after recently overtaking Tesla, CleanSpark, and Galaxy Digital. Metaplanet is only trailing behind large crypto firms, such as MARA, Riot, and Strategy.

Metaplanet, which rebranded in 2024 from a hotel and technology firm to a dedicated Bitcoin treasury, recently announced that it is looking to accumulate 210,000 BTC, or about 1% of the 21 million supply, by 2027 as it aims to become one of the world’s largest Bitcoin Treasury companies.

The firm’s latest BTC buy comes at a time when more companies are looking to invest in the benchmark crypto, partly as a way of boosting their share prices. Over 142 publicly traded firms hold Bitcoin on their balance sheets as of publication time. They have raked up a combined $92 billion of the alpha crypto, with Michael Saylor’s software firm Strategy’s stockpile roughly two-thirds of that amount. 

Strategy currently holds over $64 billion worth of Bitcoin. It began buying the world’s oldest cryptocurrency in 2020, pioneering the model that has recently become widely adopted.

XRP is making waves in the crypto market, with 80% of its supply now in profit, outshining Ethereum’s 61%, according to on-chain data.

The profit gap signals stronger conviction among XRP holders, with their higher profitability reflecting a more bullish investor sentiment than Ethereum’s, which might potentially fuel increased interest and investment in XRP.

Heightened investor confidence can also be indicated by positive derivatives open interest (OI) in the XRP ecosystem.

According to Coinglass data, XRP derivatives OI currently stands at $4.20 billion after witnessing a 4.95% increase.

Open interest in derivatives is a key metric for understanding market sentiment and activity because it refers to the total number of outstanding futures or options contracts that haven’t been settled.

Therefore, positive XRP open interest signals rising market interest and increased capital inflow from institutional investors. 

XRP Eyes the $2.35 Zone

According to market analyst Lingrid, XRP may be experiencing a stealthy accumulation phase that could spark a sharp upward move to the zone between $2.30 and $2.35.

She added, “XRP dropped into the IMB zone and quickly bounced, defending the key support level between 2.00 and 2.05. The chart shows a potential accumulation structure forming after a falling wedge breakout, with the price beginning to coil toward a higher low.”

Source: Lingrid

A series of higher lows plays an instrumental role in confirming an uptrend because each pullback ends at a price higher than the previous one.

At the time of this writing, XRP was up by 1.9% in the past 24 hours to trade at $2.29.

Meanwhile, the path to a spot XRP exchange-traded fund (ETF) is clearing as Ripple moves to end its nearly five-year legal battle with the United States Securities and Exchange Commission (SEC).

Ripple CEO Brad Garlinghouse confirmed the company will drop its cross-appeal, signaling a final resolution is near.

Tesla CEO and multipreneur Elon Musk confirmed on Sunday that the ‘America Party’, a pro-tech centrist party he intends to form after his short-lived alliance with US President Donald Trump ended, would accept Bitcoin (BTC).

“Fiat is hopeless, so yes,” Musk replied to an X user who asked if the America Party would embrace the premier crypto.

Fiat is hopeless, so yes

— Elon Musk (@elonmusk) July 7, 2025

The so-called America Party was formed out of a public rift between Musk and President Donald Trump over the ‘Big Beautiful Bill’, which Musk has called a “disgusting abomination,” claiming it would erode millions of jobs in the US and cause “immense strategic harm” to the nation.

This particular bill is estimated to add a whopping $3.3 trillion to the US national debt over the next decade.

Musk questioned Trump’s rationale for forming the Department of Government Efficiency (D.O.G.E.), an extra-governmental agency that sought to reduce the US national debt, if he was going to increase the national debt by trillions of dollars.

Musk’s Relationship With Crypto

Musk’s relationship with cryptocurrencies is well-documented, with SpaceX and Tesla both holding BTC on their corporate treasuries.

Tesla purchased $1.5 billion worth of BTC in early 2021, making it one of the first publicly listed companies to hold Bitcoin on its balance sheet. The EV maker currently holds 11,509 BTC, worth approximately $1.2 billion, making it the eighth-largest publicly traded company to hold Bitcoin in its treasury.

Bitcoin OG Adam Back recently suggested that Musk should buy 1 million in BTC to “front-run the US government and the Trump family” in their ongoing feud. While Musk already owns some Bitcoin, Back believes that the eccentric centibillionaire’s current allocation is too low for his enormous net worth. 

The X owner has also been a Dogecoin evangelist over the years. His obsession with shitposting helped boost the biggest and oldest meme coin to a top 10 cryptocurrency.

Interestingly, Musk even called himself the “Dogefather” ahead of a “Saturday Night Live” skit about the cryptocurrency back in 2021 — sending the coin’s price rocketing higher. DOGE would jump to its current record high price of $0.73 at this time.

Famous for its cryptocurrency market hype and viral community support, Shiba Inu (SHIB) remains one of the most notable meme coins in the crypto space.

As a result, market analyst Tektonic believes that SHIB is poised for an 18% rally as its burn rate surges.

The market analyst pointed out, “Shiba Inu is currently holding a bullish technical structure, signaling the potential for an 18% price rally. The sharp spike in the SHIB burn rate—up over 12,000%— reflects growing supply reduction pressure, which could act as a catalyst for upward price movement. All eyes are now on whether this momentum will trigger a breakout.”

At the time of writing, SHIB was trading at the $0.00001179 zone. 

Therefore, the $0.0000119 level should be given a watchful eye because it might trigger the next leg up for Shiba Inu.

Crypto enthusiast Degen Profit acknowledged, “SHIB price could see a 24% rally if it breaks the $0.0000119 resistance at the upper trendline of its falling wedge pattern, a bullish signal suggesting weakening bearish control. A successful breakout might push SHIB toward $0.0000148, or even $0.0000177 in a stronger rally.”

Source: Degen Profit

Given that SHIB’s burn rate has been skyrocketing to the tune of 12,833%, the meme coin’s total supply has been diminishing.

In line with basic supply-demand economics, lower supply with steady or rising demand typically drives prices higher.

Therefore, this paints a bullish Shiba Inu picture, given that 410 trillion SHIB tokens were recently permanently removed from circulation, shrinking the meme coin’s total supply by 41%.

As Cardano’s consolidation intensifies, the 10th-largest cryptocurrency based on market capitalization might be eyeing a more than 120% increase.

Calling out this development, leading market analyst Javon Marks pointed out, “ADA, fairly fresh off of a recent breakout, still looks to be on track to have a significant upside move in the works, consisting of an over 120% surge. We continue to target $2+.”

Source: Javon Marks

Crypto analyst Lingrid is of a similar opinion that Cardano is gearing up for a bullish run as price continues to hold the $0.55-$ steadily.56 zone.

She noted, “ADA is testing a strong support zone after a prolonged downtrend, showing early signs of potential reversal. The price is stabilizing around 0.55–0.56, a zone that previously acted as a base for bullish impulse. A breakout above the descending target line could push price toward 0.68–0.70 in the short term.”

Source: Lingrid

At the time of writing, Cardano was sitting at $0.58 with a daily trading volume of $353 million.

Cardano’s Open Interest Goes Through the Roof

Cardano futures traders have staked over $723 million in open interest, signaling growing conviction despite just a 0.99% daily uptick, according to CoinGlass data.

With favorable funding rates and leveraged positioning, the Cardano market sentiment is showing optimism.

This is because more traders, especially institutional investors, are entering ADA futures, signalling deeper market engagement. 

Therefore, the uptick in Cardano futures OI reflects significant confidence from large investors and traders betting on future price appreciation, which is being fueled by ecosystem growth, speculative momentum, and technical triggers. 

For instance, Cardano is already in oversold conditions, given that the Relative Strength Index (RSI) has dropped to the 23 level, indicating that an uptrend may be on the horizon.

Meanwhile, Bloomberg analysts recently speculated that the Cardano ETF approval rate stood at 90%, with an exchange-traded fund deemed a game-changer in the ADA ecosystem.

Drake, a renowned rapper and Bitcoin enthusiast, has dropped a new single ahead of an album release with lyrics referring to the volatile nature of the cryptocurrency Bitcoin.

The single is released at a time when Bitcoin’s future remains uncertain, particularly regarding regulatory support from the US government. It could very well reach an All-Time High (ATH) in the coming months. Drake’s new single addressed themes of betrayal, fake friends, and conflict. Drake released a new single titled “What did I miss” ahead of an upcoming album release. Bitcoin traders have taken a keen interest in the album due to its lyrics—the new single references Drake’s ongoing feud with rapper Kendrick Lamar. Drake refers to his conflict with Lamar as being similar to the price volatility of Bitcoin, which can fluctuate significantly from one day to the next. Drake is also a keen gambler and has been referred to as the ‘Drake Curse’ due to his unfortunate picks on UFC, NBA, among other high-profile sporting events. 

Blockwave, a Bitcoin hardware provider, predicted in 2022 that it would use data from previous innovations that scaled over time, such as automobiles, electricity, and the internet, to forecast Bitcoin adoption. Blockwave predicted that Bitcoin would hit 10% adoption by 2030, using the listed scalability models for technological innovation. It is estimated that Bitcoin currently has a global adoption rate of 4%, meaning that approximately 4% of the world’s population holds Bitcoin. Therefore, using a back-of-the-envelope analysis, we can safely assume that Bitcoin will double from 4% to 10%, which corresponds to a roughly 2x increase in adoption. This could lead to a 2x price increase from $100k to $200k if the scalability model of technological innovation holds. This forecast supports the Bitcoin traders who have been pointing to a $200,000 price target. Drake’s reference to Bitcoin’s volatility may be timely if the price continues to make large returns for crypto traders.

Drake released the new single during a YouTube stream titled “ICEMAN EPISODE ONE,” where the Canadian rapper addressed the issue of betrayal and feuds. In the stream, Drake plays the character of a worker on his lunch break. The song is about a friend who has betrayed his trust. He describes this as being similar to the price of Bitcoin, which sometimes serves as an ally when the price rises, but then becomes a traitor when the price falls, leaving Drake with less money. He could be describing his relationships as being similar to gambling, with one moment being on top, and then being betrayed when he is down on his luck. His lyrics describe friends who once stood by his side and now hang out with people who are his enemies. He describes friendship like the price of Bitcoin, which can fluctuate without warning. Bitcoin has been a complicated asset to forecast, changing direction within the blink of an eye and causing much suffering for traders who speculate on margin. 

The ‘Drake Curse’ refers to the rapper’s history of taking large bets on the NBA and UFC. Drake has lost over $1 million in Bitcoin, betting on NBA games. Drake took a bet on the Dallas Mavericks taking the NBA title. He lost his $ 500,000 Bitcoin bet because the Boston Celtics beat the Mavericks. Within weeks of this failed bet, Drake bet another $500k on the Edmonton Oilers winning the NHL Cup. However, the Panthers beat the Oilers, adding another Loss to Drake’s gambling tally. Maybe Drake could release his gambling blockchain that gives all proceeds to a ‘0% admin fees’ charity such as GiveDirectly? This would transform Drake’s gambling losses into charity donations. The more he loses, the more he gives. 

The UFC has been of great interest to the Canadian rapper. His most notable loss was betting $450,000 on Israel Adesanya to defeat Dricus du Plessis in 2024. However, he has had some notable successes, such as betting on Alexander Volkanovski to beat Diego Lopes. This was a good bet because Volkanovski had experienced some major losses and appeared to be on the verge of retirement. However, recently, Drake bet on Oliveira beating Topuria, which cost him $ 200,000. Topuria achieved a knock-out in the first round, which would have been very disappointing for Drake to watch. Drake, therefore, has a lot of experience with Bitcoin and gambling, earning the title ‘Drake Curse’. The reference to Bitcoin in his latest song is a reflection of how cryptocurrencies have become a mainstream phenomenon, no longer a fringe movement. 

A United Kingdom court has sentenced two men for engaging in cryptocurrency fraud, which resulted in losses of over $2 million. The two men, Raymondip Bedi (35 years old) and Patrick Mavanga (40 years old), were sentenced for a combined 12 years for committing fraud. The pair cold-called people, masquerading as financial advisers, but leading people to their scam websites. The scam occurred between 2017 and 2019. Police estimate that the pair scammed around $2 million from 65 victims.

The UK courts released a statement about the case, naming Raymondip Bedi and Patrick Mavanga as the scammers who extorted £1.5 million from investors, equivalent to approximately $2 million. The FCA prosecuted the two individuals and found them guilty of fraud. Bedi was sentenced to 5 years and 4 months in prison. Mavanga was sentenced to 6 years and 6 months in jail. Both men operated under companies CCX Capital and Astaria Group LLP. The court revealed that the pair sought to undermine the financial regulatory system and continued to extract their illicit gains after the scam was complete. The court requested that victims of the fraud reach out for support and receive assistance with identifying scams in the future.

The high-pressure sales scam targeted retail investors with little experience using cryptocurrencies. The pair sold their fake assets, pretending to offer a legitimate investment opportunity. The pair enticed investors with attractive sales materials and outlandish claims of future profits. Investors often would give the pair thousands of pounds in the hope of making a profit. The court case included victim impact statements. Some investors developed mental health symptoms after the scam. Others had to go into debt to pay off their losses. Some investors used their life savings for the investment and lost everything.

Judge Griffiths, who presided over the case, said that the two men were equally involved in the scam and intended to disregard the laws related to financial regulations. The pair pleaded guilty in 2023. However, Mavanga was caught committing extra offences, hiding phone recordings of Bedi and himself discussing the scam. The court slammed the two for defrauding customers. It was mentioned that dozens of people had sought investment opportunities to generate a return on their investment.

The two men pleaded guilty in 2023 for defrauding 65 investors of around $2 million. The case took a long time to resolve because the FCA had a large backlog of cases, some going back to 2016. The FCA has been focusing on crypto cases and has a long list of cases involving false advertising of crypto investments. The UK court was able to finalise this lengthy process and hopefully could bring some closure to the victims of the scam. The prosecution side of crypto regulations is the final step in a protracted process. However, the lengthy process reveals that the regulations are only as effective as the resources available to enforce them.

On Thursday, a single entity transferred $8.6 billion worth of Satoshi-era Bitcoin from eight addresses that had held on to the BTC fortune for over 14 years.

Conor Grogan, the director of America’s biggest crypto exchange, Coinbase, suggested there is a chance the $8.6 billion BTC movement was caused by a hack that might set a new heist record.

Suspicious BCH Transaction Raises Alarm

“There is a small possibility that the $8B in BTC that recently woke up were hacked or compromised private keys,” Grogan observed, pointing out a suspicious Bitcoin Cash (BCH) transaction of over 10,000 tokens (valued at roughly $5 million at current prices) made before the main transfers involving 80,000 Bitcoin began.

The move raised the likelihood of someone accessing legacy private keys and quietly testing them before commencing the massive BTC movements.

“There is a possibility that the owner was testing the private key in a way that wouldn’t get noticed,” Grogan said in a post on Twitter (aka X). “BCH isn’t monitored heavily by whale-watching services.”

The pundit stressed that he saw the behavior as unusual:

“What makes me say this is that the other BCH wallets have not been touched at all; why wouldn’t they also sweep these? It implies the actor may not have full access.”

Incoming Selling Pressure?

According to onchain sleuths, all of the Bitcoin was moved into the original wallets on April 2 or May 4, 2011, and had remained untouched for over 14 years after initially receiving the coins in what is now colloquially known as the network’s “Satoshi era,” when its pseudonymous creator was still active online.

No individual or company has, so far, publicly claimed ownership of these wallets, but the timing and scope of the transfers left onlookers befuddled. This is particularly because enormous fund movements by OG wallets often hint at incoming selling pressure.

But in this case, the Bitcoin is still sitting in the eight new wallets and hasn’t been deposited into exchange addresses. 

Bitcoin was recently trading hands at $108,029 per coin, according to crypto data provider CoinGecko, after barely changing over a 24-hour timeframe despite the uncertainty. The leading cryptocurrency is about 3.4% down from the lifetime high of $111,814 it registered in May. 

The U.S. Department of Justice has charged four North Korean nationals with wire fraud and money laundering tied to nearly $1 million in stolen cryptocurrency from blockchain companies in the U.S. and Serbia.

Fake Devs, Real Theft

The suspects, Kim Kwang Jin, Kang Tae Bok, Jong Pong Ju, and Chang Nam Il, allegedly posed as remote blockchain developers using stolen or fake identities to conceal their North Korean citizenship.

Starting from operations in the UAE in 2019, they later secured jobs at a blockchain startup in Atlanta and a token platform in Serbia between late 2020 and mid-2021. U.S. prosecutors say Kim and Jong submitted fabricated documents to land their roles, a tactic DOJ officials describe as a rising threat to companies hiring remote IT staff.

$915K in Crypto Funneled to Pyongyang

Once inside, the operatives didn’t waste time. In early 2022, Jong siphoned off $175,000 worth of crypto. A month later, Kim exploited vulnerabilities in smart contracts to steal another $740,000. The stolen funds were laundered through crypto mixers and funneled to wallet addresses controlled by Kang and Chang, who allegedly registered exchange accounts using fake Malaysian IDs.

The DOJ claims the scheme was part of North Korea’s broader strategy to fund illicit programs, including nuclear weapons development, by targeting vulnerable crypto infrastructure.

“These schemes target U.S. businesses, evade sanctions, and funnel money directly into the regime’s weapons programs,” said John A. Eisenberg, Assistant Attorney General for National Security.

DOJ’s New Crackdown on DPRK Cyber Ops

The charges are part of the DOJ’s broader DPRK RevGen: Domestic Enabler Initiative, launched in 2024 to cut off North Korea’s access to U.S.-based revenue streams.

The case also ties into wider efforts. Federal agents recently seized nearly 30 financial accounts, 200 laptops, and over 20 fake websites across 16 states, part of a sweep on “laptop farms” used by North Korean operatives posing as U.S. freelancers.

Today, the FBI and @TheJusticeDept announced nationwide actions to disrupt North Korean schemes to defraud American companies through remote IT work, which included the arrest of a U.S. national who allegedly hosted a laptop farm for North Korean actors https://t.co/3IC28oaMFa pic.twitter.com/rsx0EPO0nu

— FBI (@FBI) June 30, 2025

A separate civil complaint last month detailed how North Korean IT contractors, posing as remote developers, funneled $7.74 million in crypto to Pyongyang, all while working for over 100 U.S. companies.

The Bigger Picture

North Korea’s use of fake developer identities to infiltrate crypto startups shows how the regime blends social engineering, remote work loopholes, and blockchain vulnerabilities to raise capital under global sanctions.

It’s also a wake-up call for blockchain firms hiring global talent. What looks like a remote dev may be part of a state-sponsored scheme to extract digital wealth, bypass sanctions, and fund hostile operations.

Ripple’s stablecoin is quickly becoming one of the most important players on the market. RLUSD saw its supply grow by 47% in June, the fastest growth rate of any major stablecoin in the month. Total circulation now stands at $455 million, up from just over $300 million the previous week.

Ethereum Is Driving the Surge

The bulk of RLUSD’s supply is on Ethereum, which hosts roughly $390 million of the $455 million total. That’s nearly a fourfold increase since January, according to Token Terminal data.

@Ripple's RLUSD stablecoin is growing on @ethereum, with supply up ~4x since January. pic.twitter.com/nQ88TYVtnc

— Token Terminal (@tokenterminal) June 28, 2025

While Ripple’s native XRP Ledger still supports around $65 million of RLUSD, Ethereum’s familiarity and deep liquidity are attracting most users. It’s become the go-to platform for DeFi integrations, exchange listings, and app-level adoption.

Ripple’s willingness to support RLUSD across multiple chains shows a strategic shift. Instead of limiting the stablecoin to its ecosystem, the company is opting for interoperability.

Regulatory Clarity Strengthens RLUSD

Legal and regulatory progress is also fueling RLUSD’s growth. In the U.S., the recently passed GENIUS Act has established clearer rules for dollar-backed stablecoins. Ripple, having spent years in court with the SEC, now enjoys more legal clarity than many of its peers.

Ripple CEO Brad Garlinghouse confirmed the company has dropped its cross-appeal against the SEC, signaling movement toward a final resolution. That easing legal pressure has helped RLUSD gain market credibility at a crucial moment.

Internationally, RLUSD recently received approval from the Dubai Financial Services Authority (DFSA), allowing it to operate within the Dubai International Financial Centre (DIFC), a growing financial hub for the Middle East, Africa, and South Asia.

A New Contender in the Stablecoin Wars

While USDT and USDC continue to dominate, RLUSD’s expansion shows that demand is growing for stablecoins that combine compliance, flexibility, and global reach.

Ripple’s June breakout wasn’t accidental. It’s the result of deliberate steps: legal alignment, cross-chain support, and global licensing. Few new stablecoins manage to scale this quickly, especially in a market where trust matters more than ever.

Rostec, a state-owned defense and technology conglomerate, will launch its stablecoin RUBx on the TRON ecosystem. Russian state media reported on the development. RUBx will have one-to-one backing of Russian Rubles to validate the token. Alexander Nazarov, Deputy General Director for Rostec, stated that the company would maintain a reserve to enable one-to-one backed rubles, allowing users to redeem their tokens.

RUBx will operate on the TRON network, backed by Rubles stored in the Russian state treasury, ensuring the stablecoin adheres to local laws and regulations. The code for RUBx will be available on GitHub to enhance the project’s transparency. RUBx will be audited by the firm CertiK as part of the regulatory requirements to ensure the stablecoin adheres to standard practices. Rostec will be the sole issuer of the stablecoin.

Rostec stated that the stablecoin has been designed to comply with the Bank of Russia’s requirements, allowing for its integration into the financial system. The stablecoin will be used in conjunction with RT-Pay, allowing clients to utilize RUBx outside of business hours, conduct transactions, and even execute smart contracts. The Bank of Russia specified particular requirements for the stablecoin to prevent money laundering and terror financing. Initially, the stablecoin will be utilized for specific profitable projects, and subsequently, it will be expanded to serve retail consumers and businesses.

RT-Pay will connect RUBx to traditional banking services, allowing clients to transfer their stablecoins to external wallets and pay for services and products within Russia. RUBx, therefore, will be connected with the broader crypto ecosystem and will have the ability to interact with smart contracts. The TRON network is a fitting blockchain for this project because it has a stable ecosystem with reportedly high transaction speeds and low costs. Justin Sun, the co-founder of TRON, has recently partnered with USDT Tether to increase the blockchain’s access to the stablecoin market.

TRON manages its token, TRX, which has a market capitalization of $26.8 billion and ranks eighth globally in the cryptocurrency world. TRON also allows Tether’s USDT to operate on its ecosystem. TRON has fast speeds and cheap transaction fees. USDT can be transferred on the blockchain for free using the gas-free wallet option. TRON is an interesting cryptocurrency because it features a pricing structure similar to XLM, characterized by low volatility, while hosting USDT in a manner comparable to tokens like Ethereum and Solana. 

Turkey’s Capital Markets Board (CMB) has blocked 46 cryptocurrency websites, including PancakeSwap (CAKE), for providing unauthorized cryptocurrency services. The CMB is Turkey’s financial regulator and will start legal proceedings against the various crypto services. Turkey has recently taken steps to reduce unauthorized services being offered to Turkish citizens. PancakeSwap is one of the most successful Decentralized Exchanges (DEXs), alongside Uniswap and Curve. PancakeSwap had more than $325 billion in trading volume in June. It’s unclear at this stage why Turkish officials deemed the websites to be unauthorized, but the CMB would likely prefer that crypto services be appropriately registered.

PancakeSwap is a Decentralized Exchange (DEX) on the Binance Chain. Turkey’s Capital Markets Board (CMB) blocked the DEX as part of a campaign to block unauthorised crypto projects. Turkey is intensifying its efforts to regulate the cryptocurrency industry. This is the first time Turkey has blocked a DEX. Governments around the world are seeking ways to regulate cryptocurrency as the relatively new technology becomes increasingly mainstream. One key area of concern is the phenomenon of ‘pig butchering’, where wealthy crypto holders are swindled out of their holdings with scams. Governments worldwide are deeply concerned about this trend. Turkey may be reducing its reliance on technologies that scammers could exploit.

Turkey has emerged as a significant growth market for cryptocurrencies, with a notable increase in crypto trading from 25.1% in 2023 to 27% in 2024. However, this extra amount of trading has attracted the attention of Turkish regulators. Turkish crypto traders have been taking a keen interest in long-term investments and crypto use cases that promote financial inclusivity. Turkish authorities, however, are concerned about the price volatility of digital assets and illicit activities on the blockchain. They have tackled this problem by setting new standards for the crypto industry, including Know Your Customer (KYC) and licensing requirements. It is very possible that PancakeSwap was shut down due to not having the appropriate licenses to operate in the country. Yet PancakeSwap is a DEX, which means that it does not operate like a traditional finance business. 

The Capital Markets Board (CMB), the primary regulatory body in Turkey, has taken charge of the situation, outlining a new cryptocurrency agenda for 2025. The CMB now has full authority to regulate crypto service providers. First, the CMB identifies a crypto service provider, and then it regulates the service provider. This is what most likely happened with PancakeSwap, despite being a DEX, which was identified by Turkish officials as a crypto service provider. The CMB has been relentless in its efforts to tackle crypto crimes, making it mandatory to conduct identification checks for crypto transactions exceeding $425. Crypto transactions will further require a 20-letter note appended to the blockchain, ensuring a clear paper trail for all cryptocurrency activities. Crypto payments have been banned since 2021. Many countries around the world have adopted a heavy-handed approach to crypto trading. Turkey may very well be one of those countries.

According to Turkish officials, a Crypto Service Provider must develop internal risk management strategies and have procedures in place to address money laundering on their platform. This includes reporting any suspicious activities to the appropriate authorities. Failure to report suspicious activities may prompt an external review by government officials. The Turkish government has established multiple threshold limits to prevent money laundering within the country, including a daily limit of $ 3,000 and a monthly limit of $50,000. Such measures would make it difficult for money launderers to conduct their business with ease. Crypto Service Providers that don’t abide by the rules may see their licenses revoked. The Turkish government is also trying to tackle illegal gambling, which has become a difficult business to cut back on.

Senator Cynthia Lummis has introduced a crypto tax bill that exempts capital gains of $300 or less and has a $5,000 annual exemption cap. The US Senator has introduced the bill to address what she believes is the unfair treatment of crypto traders. Lummis said that her tax bill will allow US citizens to engage with the crypto economy without inadvertently accruing a tax bill. Lummis justifies the viability of her bill by stating that the Congressional Joint Committee on Taxation estimates it will generate $600 million by 2035. This is a significant step for the crypto community, which has faced uncertainty and regulatory hurdles for quite some time now, and would like to embrace financial innovations without having to deal with draconian tax requirements.

“This groundbreaking legislation”, said Senator Lummis, “is fully paid-for, cuts through the bureaucratic red tape, and establishes common-sense rules that reflect how digital technologies function in the real world. We cannot allow our archaic tax policies to stifle American innovation, and my legislation ensures Americans can participate in the digital economy without inadvertent tax violations”.

The Lummis Crypto Tax Bill would adhere to the current agenda made popular under President Trump, introducing commonsense tax legislation that allows American businesses to thrive in a competitive global market. Lummis has introduced a practical tax-free threshold for digital asset transactions that fall below $300, with an annual limit of $5,000 in transactions. In many countries, cryptocurrencies are not considered currencies, despite clear indications, including their name, as to the true intention of their creator. There remains considerable uncertainty regarding crypto regulation, particularly with respect to tax requirements. Senator Lummis’s bill, therefore, could be a very big breakthrough for crypto traders across the globe. With Lummis’ crypto tax, a person could buy a coffee without having to pay capital gains. It should be a matter of common sense that a person using cryptocurrencies to buy a coffee is not engaging in a serious investment, but is instead treating their cryptocurrency as a currency.

The Congressional Joint Committee on Taxation estimates that Lummis’s bill would generate $600 million through 2034, a figure that Senator Lummis likes to remind people about. Lummis stresses that the bill reflects how cryptocurrencies are used in the real world. She has described her bill as a commonsense approach. The current government in the US has been focused on cutting red tape and creating regulation that seeks to deregulate the market. Lummis, therefore, is creating timely legislation that may have a good chance of succeeding. The implications for American crypto traders would be immense and would certainly lift a weight of uncertainty from their shoulders. Lummis is concerned that inadvertent tax penalties would discourage Americans from embracing technological innovation. Senator Lummis is a Republican politician from Wyoming. She could very well succeed in passing the bill due to the substantial magnitude of the tax exemption.

America could very well become a crypto superpower if the industry is given appropriate tax incentives. Senator Lummis believes this is the case and stresses the need to provide Americans with commonsense tax requirements. Lummis has frequently been an outspoken advocate for Bitcoin and other digital assets. She believes that draconian tax requirements are preventing people from experimenting with cryptocurrencies. Lummis aims to create laws that encourage people to use cryptocurrencies without incurring large tax bills. The tax department should use incentives rather than punishments to support the tech sector. After all, punishments are less effective than incentives. 

Shiba Inu (SHIB) is back in the spotlight after whale investors scooped up 10.4 trillion tokens worth $110 million, sparking a surge in on-chain activity and bullish technical signals.

After a sharp decline and waning investor confidence, whales are now accumulating billions in SHIB, reigniting short-term price and market optimism.

Despite Shiba Inu’s prolonged consolidation, a sudden spike in on-chain activity has caught the market by surprise.

For instance, Shiba Inu’s transaction volume soared to 24 trillion SHIB in early June, with whale activity surging 600%.

This striking on-chain spike may be the reason why bullish momentum is starting to build, given that SHIB has already enjoyed a 4.3% increase over the past 24 hours, trading at $0.00001182.

SHIB’s Golden Cross Pops Up

According to market analyst Kryll, Shiba Inu is witnessing a golden cross amid intensified whale accumulation.

Why is this bullish? Well, a golden cross happens when the 50-day moving average (MA) crosses above the 200-day one, signalling a potential trend reversal from bearish to bullish.

Therefore, Shiba Inu’s short-term price momentum is gaining strength, which has the potential to boost sentiment through positive market psychology.

Technical analyst Tom Tucker added, “SHIB is trading just above its YTD low, with a double-bottom pattern forming. Exchange supply is dropping, futures open interest is rising, and a BTC rally could add fuel.”

Source: Tom Tucker

Meanwhile, the Shibarium team recently unveiled a major upgrade aimed at boosting decentralization, privacy, and censorship resistance. Soon, rate limits will be enforced on public Remote Procedure Call (RPC) endpoints, marking a key move toward a more secure and resilient Shiba Inu network.

US Presidential advisor Bo Hines has tweeted that the crypto economy, especially Bitcoin, is set to benefit immensely from Trump’s recently signed “Big, Beautiful Bill”. The US House of Representatives passed the bill symbolically on the 4th of July, following an earlier nod by the Senate. Initially, there was significant opposition to the bill, including some staunch resistance within the President’s Republican party; however, it may be precisely what crypto users need in times of regulatory uncertainty.

What is Trump’s Big Beautiful Bill?

The main focus of the major legislation is on three of Trump’s key policy positions: tax cuts for companies, reduced regulations, and enhanced border control. While these three issues received major mention in the bill, some crypto-friendly Acts managed to pass through as part of the package, with strong bipartisan support. This level of cross-aisle support demonstrates just how popular cryptocurrency is among the American public. 

They include the Genius Act and the Clarity Act, both of which address the regulatory climate of the USA. The Genius Act sets clear rules regarding the circulation of stablecoins in the country while being open to innovative ideas coming from the sector, Hines stated.

The Clarity Act, on the other hand, aims to address the major legal conundrum faced by cryptocurrencies, not just in the USA but worldwide. According to the White House advisor, this legislation draws a clear line between a digital commodity and a digital security, paving the way for crypto innovation without legal complications in the USA. 

Hines further states that the “Big, Beautiful Bill” will make the country a global leader in crypto innovation and adoption. He gave the President high praise and noted that it was a significant milestone for the country.

Will Trump’s Bill Kickstart a New Crypto Revolution in the USA?

Pro-crypto legislation and crypto-friendly policies were a major part of Donald Trump’s 2024 presidential campaign. It was in complete contrast to his opponent Kamala Harris, who failed to capitalize on the pro-crypto entirely. 

The Clarity Act and the Genius Act are likely to significantly support the cause of digital currencies in the country if implemented in full spirit. Trump is likely to claim that a significant portion of his promise to implement crypto reforms has been fulfilled. 

However, hawkish federal agencies like the Securities and Exchange Commission (SEC) and the FBI will need to be on board for this crypto regulation to succeed. The latter has historically treated digital currencies like a tool used by criminals, so that a complete rewiring may be on the cards in the coming days, especially under Trump’s FBI chairman, Kash Patel. 

Since burn rate is a key metric for Shiba Inu (SHIB), the second-largest meme coin continues to make airwaves with 1.31 billion tokens recently being removed from circulation.

The Shiba Inu community, commonly called the SHIB Army, has been a major driving force behind heightened burn rates.

For instance, various third-party platforms and community-run projects, such as burn portals, ShibaSwap, and Shibburn, have been rewarding or automating token burns.

Furthermore, SHIB ecosystem developers, such as Shytoshi Kusama, have been actively supporting and promoting burns by posting major milestones on X, formerly Twitter.

Given that burning tokens usually triggers scarcity due to slashed circulating supply, this is bullish if demand increases or remains the same.

Shiba Inu recently made a major milestone after more than 410.74 trillion SHIB tokens were permanently burned, representing 41% of its total supply.  

What’s in Store for SHIB?

Paschal btc believes that Shiba Inu is flashing bullish signals with a move to $0.000025 being on the horizon.

The crypto enthusiast added, “We’re seeing a descending wedge, RSI strength, and a double-bottom near $0.00001025. There’s real momentum building, but it’s still heavily driven by community hype.”

A double-bottom pattern usually signals a potential trend reversal from a downtrend to an uptrend.

In technical analysis, this chart formation suggests the end of selling pressure, which plays an instrumental role in igniting upward momentum. 

Therefore, time will tell how Shiba Inu plays out in the short term as the 19th-largest cryptocurrency based on market capitalization hovers around the $0.00001138 zone.