The Crypto Basic

Donald Trump Officially Signs the GENIUS Act in Landmark Victory for the Crypto Industry.
Pro-crypto US President Donald Trump has officially signed the GENIUS Act, approving the first federal bill regulating stablecoins.
Trump was quick to affix his signatory approval to the stablecoin bill on Friday, a move he had long awaited. The passed bill provides a clear regulatory framework for US dollar-pegged digital currencies, making a significant victory for the crypto industry.
The GENIUS Act passed in the US House on Thursday, after an earlier setback. Conservative Democrats and House GOP hardliners had repelled the bill two days earlier, citing its lack of provisions for restricting CBDCs.
Meanwhile, Trump convinced the hardliners to pass the stablecoin act, promising to add the now-passed Anti-CBDC Surveillance State bill to the National Defense Authorization Act. Following the Thursday passage, Trump has issued his executive approval to make the bill a law.
The pro-Bitcoin president stated that the bill will help sustain the US’s dominance in the sector, as well as the US dollar’s status as the world’s reserve currency. According to him, a sway from this is similar to “losing a world war.”
Notably, the stablecoin legislation provided certain measures to regulate issuers. Some of them include a requirement to maintain their reserves on a dollar-for-dollar basis in US Treasury bills and other similar vehicles. Citing this provision, David Sacks, the crypto and AI czar, earlier claimed that the bill will attract trillions to the US economy. Moreover, senior Treasury officials also share a similar sentiment. They briefed reporters unanimously on Friday, insisting it would not just create visible regulation for stablecoins but also boost the adoption of cryptocurrency in the United States.
Remarkably, the GENIUS Act is the first-ever federal crypto bill passed in the US amid a push from the current leadership to allow the industry to thrive. It might be the first of many, as the CLARITY and Anti-CBDC Acts also passed in the US House on “Crypto Week.”

#shiba⚡ Inu has failed to attract the interest of any mainstream asset manager for ETF applications despite being the second-largest meme coin in the market.
SHIB also doesn’t benefit from major celebrity endorsements. Elon Musk and Mark Cuban have promoted Dogecoin, while TRUMP coin leans on its connection to President Donald Trump.
These figures boost the public image of their respective coins, making them more appealing to investors and ETF issuers alike. SHIB doesn’t have a similar high-profile backer, which may reduce its draw in the eyes of fund managers who rely on social sentiment and media hype to support these types of offerings. Another factor could be SHIB’s complex ecosystem. While Dogecoin focuses on simple peer-to-peer transactions, Shiba Inu supports a full DeFi environment. It includes tools like ShibaSwap, a Layer 2 blockchain called Shibarium, NFTs, and an upcoming metaverse project. This shows innovation but asset managers may see it as too complicated to fit into an ETF structure. Simpler coins often attract more interest from institutions that prefer straightforward narratives and clean market use cases. Also, Shiba Inu’s ecosystem remains in progress. Its token burn strategy, DeFi tools, and broader adoption are still developing. This might suggest to firms that SHIB hasn’t yet reached the maturity level they want for an ETF product. Lastly, although SHIB boasts one of the strongest communities in crypto, it lacks a standout personality driving its visibility, which is due in part to Kusama’s anonymity. Dogecoin has Musk, and TRUMP coin has Trump. These individuals keep their coins in the headlines. However, SHIB relies more on grassroots support. Notably, this support runs deep but may not shine as brightly in mainstream news, which matters when firms try to measure market sentiment before launching new products.

Senator Lummis Calls Alleged US #Bitcoin Dump a “Strategic Blunder”. Pro-crypto Senator Cynthia Lummis reacts to reports that the United States government has sold more than 80% of its Bitcoin stash, referring to the move as a strategic blunder.
Yesterday, the crypto community was stirred by reports claiming that the U.S. government had offloaded a significant portion of its nearly 200,000 BTC stash. Some sources stated that the sale had reduced the government’s Bitcoin holdings to just 28,988 BTC, an 85% drop from the 198,012 BTC it held earlier this year.
For context, the reports emerged after a FOIA response from the U.S. Marshals Service (USMS) surfaced online, suggesting that the agency held roughly 29,000 BTC.
The USMS is responsible for managing and auctioning off seized cryptocurrencies, including Bitcoin, in the United States. As such, the news that it holds only 29K BTC alarmed the crypto industry.
Notably, Senator Lummis reacted to the report via a post on X, expressing shock that the government may have sold off 80% of its Bitcoin holdings. She stated that if the reports were accurate, then the government had made a total strategic blunder. In her view, such a move may set the U.S. several years backward in the global Bitcoin race. Meanwhile, the claims that the U.S. government has sold most of its Bitcoin holdings misinterpret the FOIA response. While the response indicated that USMS holds roughly 29,000 BTC, on-chain data from Arkham Intelligence shows the U.S. government still has approximately 200,000 BTC. The government obtained these assets through criminal and civil forfeitures. Tracked public wallets indicate that the government still holds a total of 198,012 Bitcoin, currently worth $23.49 billion. The U.S. plans to retain them for several years, anticipating a future price increase and using the proceeds to help offset national debt.. President Donald Trump outlined this strategy while signing an executive order earlier this year. He ordered the BTC tokens to be held in a strategic reserve.
#CryptoNewss

Michael Saylor Says the Only Thing Better Than #Bitcoin Is More Bitcoin.

According to Strategy’s chairman, Michael Saylor, the only thing better than Bitcoin is more Bitcoin.

Saylor shared this optimistic statement via a tweet today. He highlighted MicroStrategy’s 3,588% return, which outperformed all traditional assets during its Bitcoin Standard era.

Indeed, Saylor’s bold bet on Bitcoin has proven to be one of the most profitable investment strategies of the past five years. MicroStrategy (MSTR), the publicly traded business intelligence firm that has transformed into a Bitcoin vault, recorded an astonishing 3,588% return since adopting a BTC standard in 2020.

The company stayed true to its accumulation plan despite facing significant public skepticism initially. With Bitcoin trading around $120,000, the company sits on unrealized profits exceeding $28 billion from its BTC holdings.

Notably, MicroStrategy holds 601,550 BTC as of today, worth $71.44 billion. Meanwhile, it invested $42.88 billion to secure this holding. This portfolio solidifies MicroStrategy’s position as the largest Bitcoin holder among public firms.

These numbers confirm Saylor’s conviction, as he declared that, for the past five years, the only thing better than Bitcoin was to buy more of it. Many firms are now adopting Saylor’s Bitcoin blueprint to benefit from similar gains.
#Crypto

Top US Congressman Says House Has Enough Votes to Pass Three Crucial Crypto Bills.
Rep. French Hill has stated that the House has sufficient votes to pass three crucial cryptocurrency bills this week.
For context, the three critical crypto-related bills — the Senate GENIUS Act, the Anti-CBDC bill, and the CLARITY bill — suffered major setbacks on Tuesday as several congressional members blocked their passage.
Of the 220 Republicans present at the session, 196 voted in favor of the passage, 13 stood against it, while the remaining 11 were neither in support nor opposed to the legislation. However, the Democrats present stood firmly against the passage of the bills. Specifically, 210 Democrats voted “NAY,” while the remaining two Democrats stayed on the fence.
This brought the total votes to 223-196, with the majority opposing the passage of the legislation.
Following the devastating result, Rep. French Hill, the chairman of the Financial Services Committee, emphasized that despite the setback, the House has the necessary votes to pass all three crypto bills. He made the assurance during a recent interview on CNBC’s Squawk Box. The congressman provided a brief overview of all crypto bills and potential timelines for their passage.
Hill noted that Speaker Mike Johnson is coordinating the reintroduction of all three bills today to facilitate their full passage. Johnson had previously attributed the lack of bipartisan support for the GENIUS Act to its bundling with other crypto legislation.
The House will now vote on the bills individually. Rep. Hill stated that the House will vote on the CLARITY Act — legislation aimed at clarifying the appropriate regulatory authority for the crypto industry — later today.
Similarly, Rep. Hill expressed confidence that the Senate’s GENIUS Act, which seeks to establish a clear regulatory framework for dollar-backed stablecoins in the U.S., will pass when it comes up for a vote tomorrow.
The chairman of the House Financial Services Committee speculated that the anti-CBDC bill will also pass with bipartisan support.

Vanguard Takes $9B Stake to Become Largest Shareholder in #Bitcoin -Holding Strategy Inc.

Investment giant Vanguard has become the largest shareholder in Strategy Inc., the most prominent corporate holder of Bitcoin.

Vanguard Group, the world’s second-largest asset manager, became the biggest institutional shareholder in Strategy Inc. (aka MicroStrategy), despite the firm’s repeated warnings against investing in cryptocurrencies.

For context, the $10 trillion asset manager has acquired more than 20 million shares of Strategy, giving it nearly an 8% stake in the company’s Class A stock. Notably, the stake is worth approximately $9.26 billion.

Meanwhile, the position was not the result of a direct bet on Bitcoin but an outcome of Vanguard’s passive index-tracking strategy.
#Crypto

Don’t Sell Your #Cardano Until It Reaches $5 This Cycle: Analyst "Mr. Banana".

Despite the Cardano trend below $1, a top market analyst has warned against selling ADA this cycle before a six-fold rally.

After a period of massive price uptrend, Cardano and the broader crypto market have consolidated slightly in the past 24 hours. For context, ADA is down 3.82% over the past day, correcting from a high of $0.76 yesterday.

Nonetheless, its trajectory appears to still be up only from here, at least according to a recent analysis. Specifically, Mr. Banana has urged Cardano holders not to sell short of a new all-time high of $5 this bull cycle.

The analyst shared in a Monday tweet that Cardano will break its current all-time high of $3.10 this cycle. This confident projection comes despite ADA being 76% away from the price mark.

Notably, he projected a rally to $5 this cycle, which is about 594% away from its current price of $0.72. Until Cardano gets to this price target this cycle, he argued that anyone selling is not realizing ADA’s full bullish potential.

When asked why he projected the price target, Mr. Banana stated that it is mainly due to strong fundamental analysis of the Cardano ecosystem. However, he did not provide further perspective on this claim.

Nonetheless, the Cardano community has been buzzing amid strategic developments. First, the ecosystem has progressed in its course to unlock Bitcoin DeFi with the recent Lace Wallet rollout boosting momentum.

Furthermore, a Cardano spot exchange-traded fund (ETF) could launch soon. A recent disclosure from Bloomberg’s senior ETF analyst Eric Balchunas suggests that there is a 90% chance of approval for the ADA-focused investment product before the end of 2025.

Several other bullish fundamentals, like Cardano’s addition to the five assets in the US crypto stockpile and founder Charles Hoskinson’s mention in Donald Trump’s crypto cycle, have all sparked optimism among ADA proponents.

Notably, an earlier parallel analysis suggests these developments should take Cardano to $10 this cycle.

Federal Reserve Officially Adopts ISO 20022 for FedWire: What This Means for #Ripple .

Interestingly, Ripple already positioned itself early to take advantage of this push. Specifically, in 2020, Ripple became the first blockchain-focused company to join the ISO 20022 Standards Body.

Since then, it has built its global payment platform, RippleNet, to fully support ISO 20022. This allows Ripple to connect smoothly with banks, payment providers, and other financial institutions that follow the new standard.

RippleNet uses a common, structured messaging system that fits into the ISO 20022 framework. This setup improves transaction speed, accuracy, and transparency, which are important features that banks now need as they adapt to the Federal Reserve’s update.

While XRP, the crypto asset Ripple uses for liquidity, doesn’t directly follow ISO 20022, it still plays an important role in Ripple’s operations. For context, XRP flows through RippleNet’s infrastructure, which meets ISO 20022 requirements, making it useful in compliant cross-border payments.

Also, Ripple leverages XRP through its On-Demand Liquidity (ODL) service (now Ripple Payments), which removes the need for pre-funded accounts by allowing instant currency conversion and settlement.
This move by the Federal Reserve could actually open new opportunities for Ripple. For instance, U.S. banks and financial institutions now need technology partners that already meet the ISO 20022 standard.

Ripple has already done the heavy lifting. Specifically, its early membership in the standards body, full RippleNet compliance, and strong global partnerships put it in a great position to support U.S. institutions through this change.

Besides its ISO 20022 compliance, Ripple is also making inroads within the U.S. banking sector. Earlier this month, the blockchain payment firm applied for a banking license in the U.S. as well as a Federal Reserve master account for RLUSD, its proprietary stablecoin.
#CryptoNewsFlash

Saylor’s Strategy Bags $31B in Unrealized Profits as #Bitcoin Hits $122K. As Bitcoin rockets past $122,000, Strategy, the largest corporate holder of BTC, now holds around $31 billion in unrealized profits. Bitcoin continues its meteoric rise, hitting a new all-time high above $122,000 on Monday, July 14. This latest surge, driven by strong inflows into Bitcoin ETFs, has propelled the cryptocurrency to levels never seen before, and with it came massive unrealized profits for institutional holders like Strategy (formerly MicroStrategy).
According to data from CoinMarketCap, the price of Bitcoin briefly peaked at $122,666, marking its all-time high. The bullish momentum has been building since July 9, powered largely by renewed interest in Bitcoin ETFs. Last Thursday alone, U.S.-based Bitcoin ETFs logged a record $1.18 billion in inflows, marking the strongest day for the products in 2025.

Well-known crypto analyst Ali Martinez suggests that this bullish momentum could still have further upside potential. In a recent tweet, he projected that Bitcoin could climb to $127,000. His prediction is based on analysis using the MVRV Pricing Bands, a popular metric for evaluating fair market value.
Now, one of the biggest beneficiaries of this rally is Strategy, the publicly traded company led by Bitcoin evangelist Michael Saylor. As of June 30, the firm had amassed 597,325 BTC at an average purchase price of $70,982 per coin. This amounts to an investment totaling $42.39 billion.
With Bitcoin now trading over $120,000, the company’s holdings are currently valued at $73.27 billion. This gives Strategy an eye-popping unrealized profit of $30.87 billion on its Bitcoin stash.
So far this month, Strategy has not added to its Bitcoin holdings despite soaring prices. However, founder Michael Saylor hinted at potential new purchases in a recent post on X (formerly Twitter), stating: “Some weeks you don’t just HODL.”
#Cryptonews

#Cardano Founder Congratulates XLM and HBAR Amid Price Pumps.

Stellar (XLM) and Hedera (HBAR) tokens rallied the most among the top 20 cryptocurrencies by market cap in the past seven days, attracting accolades from the Cardano founder.

Charles Hoskinson, who is big on cross-chain collaboration over rivalry, took to X to congratulate the XLM and HBAR communities, as the tokens’ prices react to the bullish market conditions. He applauded the projects for “weathering the storms” in recent years and showing commitment to building regardless of the obstacles.

Following Bitcoin’s continued rally to new all-time highs, altcoins are beginning to pick up. While several others, including XRP and SUI, performed well, Stellar and Hedera stand out. For context, XLM is up 11% in the past 24 hours, while HBAR has rallied 17% in the same timeframe.

Meanwhile, the duo’s gains look even more appealing over the past seven days. Stellar is up a staggering 93%, rallying from $0.25 at the start of last week to a high of $0.51 before retracing to its current price of $0.48.

Hedera followed a similar trajectory, rallying 55% in the past seven days. HBAR started its flight from $0.16 last week and closed at $0.24, up 51.42%. It has also started this week on a high, rallying to $0.25 before dropping to its current price of $0.24.

Interestingly, although Stellar and Hedera surged alongside each other, they have no direct relationship. Nonetheless, their utility overlaps, as both projects offer different use cases in the digital transaction scene.

#Crypto

Grayscale has formally responded to the SEC’s surprise decision to stay its approval of the GDLC ETF conversion.
The asset manager argues that the agency has no legal right to pause the product beyond the deadline set by Congress. The firm insists that under U.S. securities law, the ETF is now automatically approved and ready to launch.
SEC Approved the GDLC ETF, Then Immediately Hit Pause
For context, on July 1, 2025, the SEC’s Division of Trading and Markets approved Grayscale’s bid to transform its Digital Large Cap Fund (GDLC) into a spot ETF. The product includes a mix of XRP, Ethereum, Bitcoin, Cardano, and Solana.
However, within hours, the SEC’s Office of the Secretary issued a stay under Rule 431(e), putting the approval on hold to allow full commission-level review. This surprise reversal has triggered frustration from Grayscale and sparked a legal response.
Grayscale’s Legal Argument
In its formal letter to the SEC, Grayscale’s legal team argues that the Commission ran out of time to take further action. They cite Section 19(b)(2)(D) of the Securities Exchange Act, which sets a 240-day deadline for the Commission to approve or disapprove rule changes submitted by exchanges.
According to Grayscale, that 240-day window ended on July 2. Notably, the original filing was back in October 2024. Since the SEC neither issued a final disapproval nor completed full Commission action, the ETF must now be considered “deemed approved” by law.
“The statute provides no authority to the Commission to extend [the deadline], by rule or otherwise,” the letter said. It stressed that internal rules like Rule 431 cannot override an act of Congress.
#crypto

PUMP Token Price Climbs 30% as Pre-Market Volume Rockets Ahead of ICO.

Pump. fun’s native token, PUMP, has recorded $346 million in pre-market trading volume, with prices 30% above its presale level.

Solana-based memecoin launchpad Pump. fun is generating massive buzz ahead of its Initial Coin Offering (ICO). Specifically, pre-market perpetual trading of its PUMP token is seeing explosive growth across major crypto exchanges.

According to the latest data from Coinglass, the PUMP token has racked up over $346 million in volume. It also has $115 million in open interest. This signals intense investor anticipation ahead of its official launch on Saturday, July 12.

Even before a single token is publicly sold, the token is already trading at a 30% premium. The ICO price is set at $0.004. However, the current pre-market rate has risen to $0.0052, and long sentiment dominates the order books. This dramatic surge suggests widespread confidence in the token’s short-term momentum and long-term potential.

#CryptoNewss

Bloomberg Terminal Switches #Bitcoin Price Scale to Show BTC in Millions. Bitcoin broke a new all-time high of $118,404 today, hitting new highs for the third consecutive day now. On other platforms like TradingView, it trades at $118,090 at the time of writing. But on the Bloomberg Terminal, Bitcoin’s spot price (XBT) is trading at $0.118M. This does not go without notice, as it brings the vibes of a million-dollar valuation for Bitcoin to life. Furthermore, it not only highlights a tone switch from skepticism to belief but also brings to the notice of institutions using the platform that Bitcoin could attain the price level in the future. This scale switch has excited the cryptocurrency community. “Bloomberg knows precisely what’s coming sooner,” a user stated. Others also shared that it is a sign, and the million-dollar valuation is inevitable.
This bullish perspective also aligns with the perspective of industry leaders, who have reacted to Bitcoin’s persistent price upsurge. For context, Binance’s Changpeng Zhao called the current price a dip, suggesting that prices have further unprecedented prices to conquer. He noted that mathematical numbers have no limit, and governments would continue to print fiat. On the other hand, Bitcoin has a limited cap, a premise for more upside. Bitcoin to $1 million is a common price expectation among most market users. Analysts and enthusiasts have drummed this target so much that it no longer rings a bell. Nonetheless, the 746% price mark from the current standing will be a notable milestone for the pioneering cryptocurrency, once perceived as a bubble. Top market participants have predicted the timeline for Bitcoin to reach $1 million. For instance, Zhao projected that BTC will attain the price mark this cycle. He noted that an extended bull cycle would ensure Bitcoin hits between $500,000 and $1 million. Brandon Green also shares a similar sentiment, suggesting the bull cycle would extend to 2026 or 2027. During this market phase, predicting that Bitcoin would reach $1 million, in late 2026 or early 2027.