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1. Bitcoin Holds Steady Above $118,000; Ethereum Surges Past $3,800

Bitcoin has rebounded from a dip near $116K to hover securely above $118K, even as the Federal Reserve held interest rates steady. Ethereum outperformed, trading above $3,800 thanks to strong ETF inflows and renewed institutional demand.

2. SEC Approves In‑Kind Creations & Redemptions for Bitcoin & ETH ETFs

In a major regulatory shift, the SEC now allows in-kind transactions for Bitcoin and Ethereum spot ETFs—meaning institutional investors can now exchange the underlying coins directly when creating or redeeming shares. This boosts liquidity and aligns crypto ETFs with traditional commodity fund mechanics.

3. White House Unveils 166‑Page Crypto Blueprint, Skips Bitcoin Reserve Updates

The Trump administration released a comprehensive federal roadmap advocating for crypto integration across U.S. financial systems—covering initiatives in taxes, banking, retirement, and stablecoins. However, the previously mentioned federal Bitcoin reserve was left out of the plan.

4. Syz Capital to Raise 2,000 BTC for Hedge Fund Relaunch

Syz Capital is gearing up to reopen its BTC Alpha crypto hedge fund in October, targeting 2,000 BTC (~$200M+) in fresh investor commitments. Approximately 1,800 BTC have already been pledged by family offices, corporate treasuries, and crypto foundations—underscoring strengthened institutional appetite.

 

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Bitcoin has rebounded from a dip near $116K to hover securely above $118K, even as the Federal Reserve held interest rates steady. Ethereum outperformed, trading above $3,800 thanks to strong ETF inflows and renewed institutional demand.

2. SEC Approves In‑Kind Creations & Redemptions for Bitcoin & ETH ETFs

In a major regulatory shift, the SEC now allows in-kind transactions for Bitcoin and Ethereum spot ETFs—meaning institutional investors can now exchange the underlying coins directly when creating or redeeming shares. This boosts liquidity and aligns crypto ETFs with traditional commodity fund mechanics.

3. White House Unveils 166‑Page Crypto Blueprint, Skips Bitcoin Reserve Updates

The Trump administration released a comprehensive federal roadmap advocating for crypto integration across U.S. financial systems—covering initiatives in taxes, banking, retirement, and stablecoins. However, the previously mentioned federal Bitcoin reserve was left out of the plan.

4. Syz Capital to Raise 2,000 BTC for Hedge Fund Relaunch

Syz Capital is gearing up to reopen its BTC Alpha crypto hedge fund in October, targeting 2,000 BTC (~$200M+) in fresh investor commitments. Approximately 1,800 BTC have already been pledged by family offices, corporate treasuries, and crypto foundations—underscoring strengthened institutional appetite.

The number of investor-driven class-action lawsuits in the United States involving cryptocurrency and artificial intelligence is rapidly approaching the total filings recorded in all of 2024.

According to a recent report by Cornerstone Research, the first half of 2025 saw AI and crypto as leading subjects in securities class-action complaints. Specifically, there were 12 filings related to AI and 6 related to crypto, both nearing the full-year count from the previous year.

This surge comes despite the total number of securities class actions filed for shareholder losses remaining steady, with 114 lawsuits in the first half of 2025 compared to 115 in the latter half of 2024.

The data indicates that investors continue to pursue legal action against crypto firms, even as U.S. regulatory authorities like the Justice Department and the Securities and Exchange Commission have eased crypto-related enforcement under the current administration.

Crypto Class Actions Approaching 2024 Levels

In 2024, there were seven crypto-linked class-action lawsuits filed, and with six already lodged in 2025, the pace signals a potential doubling of last year’s total by year-end. Half of these new lawsuits targeted crypto issuers, while others named crypto miners and companies adjacent to cryptocurrency operations, such as those selling mining equipment or collaborating with crypto businesses.

Complaints concerning Special Purpose Acquisition Companies (SPACs) involved in taking companies public are also on the rise, per Cornerstone Research.

Notably, the law firm Burwick Law filed half of the crypto-related complaints this year, including significant cases against Pump.fun and the controversial LIBRA memecoin.

Max Burwick, founder of Burwick Law, emphasized that civil litigation often serves as an essential route to accountability, particularly in the evolving cryptocurrency space where other remedies may lag.

Other filings came from firms such as Pomerantz LLP and Glancy Prongay & Murray, showcasing continued legal scrutiny within the sector.

The Rise of “AI-Washing” as a Litigation Driver

The report also highlights a significant rise in AI-related securities lawsuits. With 12 cases filed in the first half of 2025, these almost match the 15 filed throughout 2024.

Joseph Grundfest, a Stanford law professor and former SEC Commissioner, pointed to “AI washing”—where companies exaggerate or misrepresent their AI capabilities—as a central reason behind this increase. Such practices can lead to investor losses once the truth emerges, prompting legal actions.

Grundfest succinctly stated that this phenomenon explains the surge in AI-related securities litigation.

The number of investor-driven class-action lawsuits in the United States involving cryptocurrency and artificial intelligence is rapidly approaching the total filings recorded in all of 2024.

According to a recent report by Cornerstone Research, the first half of 2025 saw AI and crypto as leading subjects in securities class-action complaints. Specifically, there were 12 filings related to AI and 6 related to crypto, both nearing the full-year count from the previous year.

This surge comes despite the total number of securities class actions filed for shareholder losses remaining steady, with 114 lawsuits in the first half of 2025 compared to 115 in the latter half of 2024.

The data indicates that investors continue to pursue legal action against crypto firms, even as U.S. regulatory authorities like the Justice Department and the Securities and Exchange Commission have eased crypto-related enforcement under the current administration.

Crypto Class Actions Approaching 2024 Levels

In 2024, there were seven crypto-linked class-action lawsuits filed, and with six already lodged in 2025, the pace signals a potential doubling of last year’s total by year-end. Half of these new lawsuits targeted crypto issuers, while others named crypto miners and companies adjacent to cryptocurrency operations, such as those selling mining equipment or collaborating with crypto businesses.

Complaints concerning Special Purpose Acquisition Companies (SPACs) involved in taking companies public are also on the rise, per Cornerstone Research.

Notably, the law firm Burwick Law filed half of the crypto-related complaints this year, including significant cases against Pump.fun and the controversial LIBRA memecoin.

Max Burwick, founder of Burwick Law, emphasized that civil litigation often serves as an essential route to accountability, particularly in the evolving cryptocurrency space where other remedies may lag.

Other filings came from firms such as Pomerantz LLP and Glancy Prongay & Murray, showcasing continued legal scrutiny within the sector.

The Rise of “AI-Washing” as a Litigation Driver

The report also highlights a significant rise in AI-related securities lawsuits. With 12 cases filed in the first half of 2025, these almost match the 15 filed throughout 2024.

Joseph Grundfest, a Stanford law professor and former SEC Commissioner, pointed to “AI washing”—where companies exaggerate or misrepresent their AI capabilities—as a central reason behind this increase. Such practices can lead to investor losses once the truth emerges, prompting legal actions.

Grundfest succinctly stated that this phenomenon explains the surge in AI-related securities litigation.

Stay updated with the essential happenings in the cryptocurrency world today, featuring top stories that influence Bitcoin prices, blockchain technology, decentralized finance (DeFi), NFTs, Web3, and regulation.

In recent developments, major US crypto exchanges are pursuing regulatory approval for a unified framework to list crypto funds. Additionally, a new partnership between Coinbase and JPMorgan aims to provide cryptocurrency services to Chase customers, enhancing accessibility. Meanwhile, the founders of Samourai Wallet are revising their legal stance by changing their not guilty pleas related to US charges.

Streamlining Crypto ETF Listings with New SEC Proposal

The Chicago Board Options Exchange (CBOE) has submitted a rule change proposal to the US Securities and Exchange Commission (SEC). This initiative is designed to enable crypto fund issuers to list their products under a streamlined, unified process that avoids individual approvals for each fund, simplifying regulatory hurdles.

ETF analyst Nate Geraci highlighted this move, emphasizing that if approved, it could significantly expedite the approval procedure for crypto exchange-traded funds (ETFs). A similar proposal has also been made by NYSE Arca.

Under the current regulatory landscape, exchanges must file a 19b-4 form for every new crypto ETF, a process often causing delays. The recent filings follow the SEC’s approval of in-kind creations and redemptions for crypto ETFs, aligning their structure more closely with traditional funds.

JPMorgan and Coinbase Collaboration Empowers Crypto Access

JPMorgan Chase has partnered with Coinbase to facilitate crypto integration for their customers, marking a significant step toward bridging conventional finance and digital assets. Starting this fall, Chase credit card holders will have the ability to purchase cryptocurrencies directly through Coinbase.

Moreover, in 2026, JPMorgan customers will be able to redeem their Chase Ultimate Rewards Points for USDC stablecoins, pioneering the first major credit card rewards program redeemable in cryptocurrencies.

Chase cardholders will also have the option to link their accounts directly to Coinbase, simplifying the process of crypto acquisition. JPMorgan’s CEO Jamie Dimon has expressed the company’s intent to engage actively in stablecoin development to stay competitive in the digital asset space.

Legal Update: Samourai Wallet Co-founders to Plead Guilty

Co-founders of Samourai Wallet, Keonne Rodriguez and William Lonergan Hill, plan to change their previous not guilty pleas on US charges involving crypto mixing services. Federal filings indicate their intention to plead guilty as part of ongoing legal proceedings.

The charges allege Samourai Wallet operated as an unlicensed money transmitting business, purportedly facilitating over $2 billion in illicit transactions. Rodriguez and Hill face conspiracy to commit money laundering charges with potential penalties up to 25 years in prison.

Their legal adjustment marks a significant development in regulatory enforcement within the crypto industry, underlining the growing scrutiny of privacy-focused cryptocurrency tools.

Stay updated with the essential happenings in the cryptocurrency world today, featuring top stories that influence Bitcoin prices, blockchain technology, decentralized finance (DeFi), NFTs, Web3, and regulation.

In recent developments, major US crypto exchanges are pursuing regulatory approval for a unified framework to list crypto funds. Additionally, a new partnership between Coinbase and JPMorgan aims to provide cryptocurrency services to Chase customers, enhancing accessibility. Meanwhile, the founders of Samourai Wallet are revising their legal stance by changing their not guilty pleas related to US charges.

Streamlining Crypto ETF Listings with New SEC Proposal

The Chicago Board Options Exchange (CBOE) has submitted a rule change proposal to the US Securities and Exchange Commission (SEC). This initiative is designed to enable crypto fund issuers to list their products under a streamlined, unified process that avoids individual approvals for each fund, simplifying regulatory hurdles.

ETF analyst Nate Geraci highlighted this move, emphasizing that if approved, it could significantly expedite the approval procedure for crypto exchange-traded funds (ETFs). A similar proposal has also been made by NYSE Arca.

Under the current regulatory landscape, exchanges must file a 19b-4 form for every new crypto ETF, a process often causing delays. The recent filings follow the SEC’s approval of in-kind creations and redemptions for crypto ETFs, aligning their structure more closely with traditional funds.

JPMorgan and Coinbase Collaboration Empowers Crypto Access

JPMorgan Chase has partnered with Coinbase to facilitate crypto integration for their customers, marking a significant step toward bridging conventional finance and digital assets. Starting this fall, Chase credit card holders will have the ability to purchase cryptocurrencies directly through Coinbase.

Moreover, in 2026, JPMorgan customers will be able to redeem their Chase Ultimate Rewards Points for USDC stablecoins, pioneering the first major credit card rewards program redeemable in cryptocurrencies.

Chase cardholders will also have the option to link their accounts directly to Coinbase, simplifying the process of crypto acquisition. JPMorgan’s CEO Jamie Dimon has expressed the company’s intent to engage actively in stablecoin development to stay competitive in the digital asset space.

Legal Update: Samourai Wallet Co-founders to Plead Guilty

Co-founders of Samourai Wallet, Keonne Rodriguez and William Lonergan Hill, plan to change their previous not guilty pleas on US charges involving crypto mixing services. Federal filings indicate their intention to plead guilty as part of ongoing legal proceedings.

The charges allege Samourai Wallet operated as an unlicensed money transmitting business, purportedly facilitating over $2 billion in illicit transactions. Rodriguez and Hill face conspiracy to commit money laundering charges with potential penalties up to 25 years in prison.

Their legal adjustment marks a significant development in regulatory enforcement within the crypto industry, underlining the growing scrutiny of privacy-focused cryptocurrency tools.

Pump.fun—a once-dominant Solana-based memecoin launchpad—recently recorded its lowest daily revenue since September 2024, dipping to approximately $293,000 on July 28, according to DeFiLlama analytics. This marks a steep 92% revenue decline from its January peak, where it generated over $7 million per day.

Key Highlights

Revenue Collapse: The platform’s daily takings fell under $300K for the first time in nearly a year, a stark contrast to highs exceeding $7M in January and early revenue dips of $263–$281K observed in September 2024.

Market Share Bleed: Pump.fun’s share of Solana-based memecoin launches plummeted from 88% down to just 12–19%, as emerging rivals like LetsBonk captured up to 69–75% of the market.

Platform Shift: Daily revenue dropped below $200K around July 27, reflecting a broader exodus of users toward competitors offering better incentives and higher token launch success rates

Underlying Dynamics

Fading Memecoin Mania: The broader memecoin craze has cooled, dampening investor enthusiasm and reducing activity across Pump.fun’s native ecosystem.

Competitor Momentum: LetsBonk—a newer launch platform on Solana—quickly outpaced Pump.fun, offering aggressive token-launch mechanisms and attracting a majority of new projects.

Token Pressure: Pump.fun’s native token, PUMP, has lost roughly 50–60% of its value in recent weeks, eroding buy-in incentives and signaling investor doubt.

What Comes Next

Pump.fun is reportedly considering an incentive program via its SDK—potentially distributing significant PUMP tokens based on user volume—to rebuild liquidity and engagement. However, analysts question its feasibility given the dramatic drop in token value and dwindling market share.

At the same time, the platform is grappling with legal troubles, including an ongoing class-action lawsuit alleging fraudulent activities and mismanagement during token launches.

Pump.fun—a once-dominant Solana-based memecoin launchpad—recently recorded its lowest daily revenue since September 2024, dipping to approximately $293,000 on July 28, according to DeFiLlama analytics. This marks a steep 92% revenue decline from its January peak, where it generated over $7 million per day.

Key Highlights

Revenue Collapse: The platform’s daily takings fell under $300K for the first time in nearly a year, a stark contrast to highs exceeding $7M in January and early revenue dips of $263–$281K observed in September 2024.

Market Share Bleed: Pump.fun’s share of Solana-based memecoin launches plummeted from 88% down to just 12–19%, as emerging rivals like LetsBonk captured up to 69–75% of the market.

Platform Shift: Daily revenue dropped below $200K around July 27, reflecting a broader exodus of users toward competitors offering better incentives and higher token launch success rates

Underlying Dynamics

Fading Memecoin Mania: The broader memecoin craze has cooled, dampening investor enthusiasm and reducing activity across Pump.fun’s native ecosystem.

Competitor Momentum: LetsBonk—a newer launch platform on Solana—quickly outpaced Pump.fun, offering aggressive token-launch mechanisms and attracting a majority of new projects.

Token Pressure: Pump.fun’s native token, PUMP, has lost roughly 50–60% of its value in recent weeks, eroding buy-in incentives and signaling investor doubt.

What Comes Next

Pump.fun is reportedly considering an incentive program via its SDK—potentially distributing significant PUMP tokens based on user volume—to rebuild liquidity and engagement. However, analysts question its feasibility given the dramatic drop in token value and dwindling market share.

At the same time, the platform is grappling with legal troubles, including an ongoing class-action lawsuit alleging fraudulent activities and mismanagement during token launches.

Bitcoin is currently consolidating under the $120,000 resistance mark, indicating bullish control as traders prepare for increased market volatility.

Key Highlights:

Bitcoin remains in a tight range, suggesting a potential breakout soon.

Upcoming FOMC minutes and Federal Reserve rate decisions could influence crypto price movements.

Bitcoin (BTC) trades close to the $120,000 resistance, showing sustained buying interest. Despite this strength, seasonal factors may limit upward momentum, as historically, BTC’s average return in August is usually moderate. Notably, the company Strategy has recently expanded its Bitcoin holdings by purchasing 21,021 BTC at an average price of $117,256, increasing its total to 628,791 BTC.

Meanwhile, Ethereum (ETH) and Binance Coin (BNB) are showing gains. Data from Glassnode indicates that ETH’s perpetual futures trading volume has surpassed BTC’s, signaling a shift in speculative focus towards altcoins.

This article provides a detailed analysis and price outlook for the leading cryptocurrencies including BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, XLM, and SUI. Below is the forecast for key tokens:

Bitcoin Price Forecast

Bitcoin remains range-bound between $115,000 and $120,000. A breakout above $120,000 could drive BTC to new all-time highs, surpassing $123,218 and targeting $135,000. Conversely, a drop below $115,000 might push the price down to $110,530, with $100,000 as a critical support barrier.

Ethereum Price Forecast

Ethereum is holding above the breakout point at $3,745. Should ETH rebound from this level, it could test resistance at $4,094 and potentially surge to $4,868. A breakdown below $3,745 could draw the price to the 20-day moving average at $3,516, an expected support zone.

XRP Price Forecast

XRP faces resistance near the 20-day moving average of $3.16. A decline below key supports at $3.05 and $2.95 may trigger a correction towards $2.65. On the upside, overcoming the moving average resistance might propel XRP to $3.33 and then $3.66.

Binance Coin (BNB) Price Forecast

BNB has retraced to $794, a crucial support. A strong bounce could see BNB retesting its all-time high near $861, with potential to advance towards $900. Failure to hold $794 may lead to a dip towards the 20-day SMA at $751.

Solana (SOL) Price Forecast

Solana has pulled back to the 20-day SMA around $178, a likely support level. A rebound could push SOL towards resistance at $209 and possibly rally to $240. A break below the 20-day SMA might extend the range trading between $110 and $209.

Dogecoin (DOGE) Price Forecast

DOGE fell from $0.25 and breached the 20-day SMA of $0.22, indicating selling pressure on rallies. Support at $0.21 is crucial; a bounce and break above the moving average might push DOGE to $0.26 and higher. A breakdown below $0.21 could extend consolidation between $0.14 and $0.29.

Cardano (ADA) Price Forecast

ADA slipped below its 20-day SMA at $0.79, signaling bearish momentum. Support lies at $0.76; a fall below this could lead to drops toward $0.73 and $0.67. Strength will be confirmed if ADA breaks back above the 20-day SMA and heads towards resistance at $0.86.

Hyperliquid (HYPE) Price Forecast

HYPE is trading between the support trendline of an ascending channel and its 20-day SMA at $45.13. Failure to hold above the SMA increases the risk of correction to $36 or even $32. A reversal above the SMA could fuel a rally to resistance between $48 and $49.87.

Stellar (XLM) Price Forecast

XLM dropped below the 20-day SMA at $0.44, with bears defending this level on a retest. A key support is $0.40; falling below may send prices to $0.37 and $0.34 (Fibonacci levels). Buyers aim to push XLM above $0.46, potentially testing $0.52 and moving higher to $0.64.

Sui (SUI) Price Forecast

SUI briefly broke through resistance at $4.30 but reversed sharply, indicating a bull trap. Bears are maintaining the price below the 20-day SMA at $3.85. If the support zone between $3.51 and the 50-day SMA at $3.27 holds, SUI could trade in a range before potentially breaking above $4.30 and trending upwards toward $5.

This analysis is for informational purposes only and does not constitute investment advice. Trading and investing in cryptocurrencies carry risk; always perform your own research.

Bitcoin is currently consolidating under the $120,000 resistance mark, indicating bullish control as traders prepare for increased market volatility.

Key Highlights:

Bitcoin remains in a tight range, suggesting a potential breakout soon.

Upcoming FOMC minutes and Federal Reserve rate decisions could influence crypto price movements.

Bitcoin (BTC) trades close to the $120,000 resistance, showing sustained buying interest. Despite this strength, seasonal factors may limit upward momentum, as historically, BTC’s average return in August is usually moderate. Notably, the company Strategy has recently expanded its Bitcoin holdings by purchasing 21,021 BTC at an average price of $117,256, increasing its total to 628,791 BTC.

Meanwhile, Ethereum (ETH) and Binance Coin (BNB) are showing gains. Data from Glassnode indicates that ETH’s perpetual futures trading volume has surpassed BTC’s, signaling a shift in speculative focus towards altcoins.

This article provides a detailed analysis and price outlook for the leading cryptocurrencies including BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, XLM, and SUI. Below is the forecast for key tokens:

Bitcoin Price Forecast

Bitcoin remains range-bound between $115,000 and $120,000. A breakout above $120,000 could drive BTC to new all-time highs, surpassing $123,218 and targeting $135,000. Conversely, a drop below $115,000 might push the price down to $110,530, with $100,000 as a critical support barrier.

Ethereum Price Forecast

Ethereum is holding above the breakout point at $3,745. Should ETH rebound from this level, it could test resistance at $4,094 and potentially surge to $4,868. A breakdown below $3,745 could draw the price to the 20-day moving average at $3,516, an expected support zone.

XRP Price Forecast

XRP faces resistance near the 20-day moving average of $3.16. A decline below key supports at $3.05 and $2.95 may trigger a correction towards $2.65. On the upside, overcoming the moving average resistance might propel XRP to $3.33 and then $3.66.

Binance Coin (BNB) Price Forecast

BNB has retraced to $794, a crucial support. A strong bounce could see BNB retesting its all-time high near $861, with potential to advance towards $900. Failure to hold $794 may lead to a dip towards the 20-day SMA at $751.

Solana (SOL) Price Forecast

Solana has pulled back to the 20-day SMA around $178, a likely support level. A rebound could push SOL towards resistance at $209 and possibly rally to $240. A break below the 20-day SMA might extend the range trading between $110 and $209.

Dogecoin (DOGE) Price Forecast

DOGE fell from $0.25 and breached the 20-day SMA of $0.22, indicating selling pressure on rallies. Support at $0.21 is crucial; a bounce and break above the moving average might push DOGE to $0.26 and higher. A breakdown below $0.21 could extend consolidation between $0.14 and $0.29.

Cardano (ADA) Price Forecast

ADA slipped below its 20-day SMA at $0.79, signaling bearish momentum. Support lies at $0.76; a fall below this could lead to drops toward $0.73 and $0.67. Strength will be confirmed if ADA breaks back above the 20-day SMA and heads towards resistance at $0.86.

Hyperliquid (HYPE) Price Forecast

HYPE is trading between the support trendline of an ascending channel and its 20-day SMA at $45.13. Failure to hold above the SMA increases the risk of correction to $36 or even $32. A reversal above the SMA could fuel a rally to resistance between $48 and $49.87.

Stellar (XLM) Price Forecast

XLM dropped below the 20-day SMA at $0.44, with bears defending this level on a retest. A key support is $0.40; falling below may send prices to $0.37 and $0.34 (Fibonacci levels). Buyers aim to push XLM above $0.46, potentially testing $0.52 and moving higher to $0.64.

Sui (SUI) Price Forecast

SUI briefly broke through resistance at $4.30 but reversed sharply, indicating a bull trap. Bears are maintaining the price below the 20-day SMA at $3.85. If the support zone between $3.51 and the 50-day SMA at $3.27 holds, SUI could trade in a range before potentially breaking above $4.30 and trending upwards toward $5.

This analysis is for informational purposes only and does not constitute investment advice. Trading and investing in cryptocurrencies carry risk; always perform your own research.

Ripple, the company behind the cryptocurrency XRP, recently faced scrutiny after influencer Andrei Jikh questioned its transparency and project claims.

Jikh publicly expressed doubts about Ripple’s claim of having over 300 bank partnerships in its 13 years of operations, citing a lack of verifiable onchain data to support this assertion.

In response, Ripple’s Chief Technology Officer, David Schwartz, engaged with the critique by addressing multiple questions on transparency, onchain data, and institutional adoption of XRP Ledger (XRPL).

Schwartz emphasized that many financial institutions have historically preferred offchain transactions for digital assets, noting that even Ripple itself does not exclusively use decentralized transactions on XRPL.

Onchain Adoption and Institutional Use

While institutional movement towards onchain adoption is increasing, Schwartz acknowledged that progress has been slow. Ripple’s avoidance of the decentralized exchange (DEX) on XRPL for payments is attributed to concerns about potential terrorist financing risks.

He suggested that features such as permissioned domains might provide solutions to these compliance and security challenges, though details remain sparse.

Understanding XRPL and Its Reach

The XRP Ledger, launched in 2012, is an open-source decentralized blockchain underpinning XRP. Marketed as a decentralized public blockchain meant for business, XRPL has formed key enterprise partnerships, including tokenization projects with the Dubai government and Guggenheim investment firm announced in mid-2025.

Despite these collaborations, transparent onchain metrics reflecting actual transaction volumes are still limited, with platforms like DeFiLlama reporting comparatively modest total value locked (TVL) of $81.8 million for XRPL DeFi apps.

Schwartz clarified that much of institutional activity occurs offchain, meaning it often escapes onchain tracking tools.

Recent Decline in XRPL Onchain Activity

Following significant growth in 2024, Ripple reported a 30% to 40% decline in XRPL’s new wallet creations and overall transaction volumes in the first quarter of 2025, mirroring downward trends seen across major blockchains like Bitcoin and Ethereum.

However, the XRPL’s DeFi segment has shown more resilience, with decentralized exchange volumes only declining by 16% quarter-over-quarter.

Evolving Transparency Reporting

With evolving market engagement, Ripple announced the discontinuation of its XRP Markets Report in its current form starting from Q2 2025, promising ongoing transparency via official channels such as Ripple and RippleXDev.

The company expressed optimism that increased institutional involvement will bring new perspectives and insights to XRP market discussions.

Coinstelegram reached out to Ripple for additional commentary on XRPL volume tracking but had not received a response at the time of publication.

Ripple, the company behind the cryptocurrency XRP, recently faced scrutiny after influencer Andrei Jikh questioned its transparency and project claims.

Jikh publicly expressed doubts about Ripple’s claim of having over 300 bank partnerships in its 13 years of operations, citing a lack of verifiable onchain data to support this assertion.

In response, Ripple’s Chief Technology Officer, David Schwartz, engaged with the critique by addressing multiple questions on transparency, onchain data, and institutional adoption of XRP Ledger (XRPL).

Schwartz emphasized that many financial institutions have historically preferred offchain transactions for digital assets, noting that even Ripple itself does not exclusively use decentralized transactions on XRPL.

Onchain Adoption and Institutional Use

While institutional movement towards onchain adoption is increasing, Schwartz acknowledged that progress has been slow. Ripple’s avoidance of the decentralized exchange (DEX) on XRPL for payments is attributed to concerns about potential terrorist financing risks.

He suggested that features such as permissioned domains might provide solutions to these compliance and security challenges, though details remain sparse.

Understanding XRPL and Its Reach

The XRP Ledger, launched in 2012, is an open-source decentralized blockchain underpinning XRP. Marketed as a decentralized public blockchain meant for business, XRPL has formed key enterprise partnerships, including tokenization projects with the Dubai government and Guggenheim investment firm announced in mid-2025.

Despite these collaborations, transparent onchain metrics reflecting actual transaction volumes are still limited, with platforms like DeFiLlama reporting comparatively modest total value locked (TVL) of $81.8 million for XRPL DeFi apps.

Schwartz clarified that much of institutional activity occurs offchain, meaning it often escapes onchain tracking tools.

Recent Decline in XRPL Onchain Activity

Following significant growth in 2024, Ripple reported a 30% to 40% decline in XRPL’s new wallet creations and overall transaction volumes in the first quarter of 2025, mirroring downward trends seen across major blockchains like Bitcoin and Ethereum.

However, the XRPL’s DeFi segment has shown more resilience, with decentralized exchange volumes only declining by 16% quarter-over-quarter.

Evolving Transparency Reporting

With evolving market engagement, Ripple announced the discontinuation of its XRP Markets Report in its current form starting from Q2 2025, promising ongoing transparency via official channels such as Ripple and RippleXDev.

The company expressed optimism that increased institutional involvement will bring new perspectives and insights to XRP market discussions.

Coinstelegram reached out to Ripple for additional commentary on XRPL volume tracking but had not received a response at the time of publication.

South Korea’s central bank is set to establish a Virtual Asset Committee dedicated to monitoring the cryptocurrency market. This move highlights the country’s commitment to actively managing and overseeing digital asset developments.

The newly formed Virtual Asset Team will play a crucial role in engaging with legislative discussions concerning stablecoins and virtual assets. It will also collaborate closely with government authorities to support the legislative process ensuring comprehensive regulation.

This initiative follows banks in South Korea considering the introduction of stablecoins pegged to the national currency, the won. The push for stablecoin legislation by lawmakers significantly influenced the creation of this specialized team.

Additionally, the Bank of Korea has restructured and renamed its central bank digital currency (CBDC) research departments to better focus on developing practical digital currency business applications.

The Digital Currency Research Team was renamed the “Digital Currency Team” to emphasize its active role in exploring real-world digital currency initiatives beyond theoretical research. Other teams include the Digital Currency Technology Team, focusing on research, and the Digital Currency Infrastructure Team, which is working on a digital voucher management platform based on deposit tokens and developing a testing platform.

Although the Bank of Korea paused its retail CBDC test on June 29, citing support for local stablecoins and concerns over banking costs, discussions may resume once legal uncertainties are resolved. The CBDC test had been scheduled to run from April 1 to June 30, with earlier announcements made in November 2023.

The South Korean crypto market has gained strong support recently, including the election of Lee Jae Myung as president, who advocates for crypto-friendly policies such as allowing stablecoins and crypto exchange-traded funds.

Eight major South Korean banks have announced plans to introduce a stablecoin pegged to the won by late 2025 or early 2026. The Bank of Korea’s deputy governor, Ryoo Sangdai, expressed support for banks being the primary stablecoin issuers initially, with plans to expand issuance to other sectors gradually.

Overall, the Bank of Korea acknowledges the necessity of digital currencies in the future, regardless of their specific form, reflecting a strategic embrace of evolving financial technologies.

South Korea’s central bank is set to establish a Virtual Asset Committee dedicated to monitoring the cryptocurrency market. This move highlights the country’s commitment to actively managing and overseeing digital asset developments.

The newly formed Virtual Asset Team will play a crucial role in engaging with legislative discussions concerning stablecoins and virtual assets. It will also collaborate closely with government authorities to support the legislative process ensuring comprehensive regulation.

This initiative follows banks in South Korea considering the introduction of stablecoins pegged to the national currency, the won. The push for stablecoin legislation by lawmakers significantly influenced the creation of this specialized team.

Additionally, the Bank of Korea has restructured and renamed its central bank digital currency (CBDC) research departments to better focus on developing practical digital currency business applications.

The Digital Currency Research Team was renamed the “Digital Currency Team” to emphasize its active role in exploring real-world digital currency initiatives beyond theoretical research. Other teams include the Digital Currency Technology Team, focusing on research, and the Digital Currency Infrastructure Team, which is working on a digital voucher management platform based on deposit tokens and developing a testing platform.

Although the Bank of Korea paused its retail CBDC test on June 29, citing support for local stablecoins and concerns over banking costs, discussions may resume once legal uncertainties are resolved. The CBDC test had been scheduled to run from April 1 to June 30, with earlier announcements made in November 2023.

The South Korean crypto market has gained strong support recently, including the election of Lee Jae Myung as president, who advocates for crypto-friendly policies such as allowing stablecoins and crypto exchange-traded funds.

Eight major South Korean banks have announced plans to introduce a stablecoin pegged to the won by late 2025 or early 2026. The Bank of Korea’s deputy governor, Ryoo Sangdai, expressed support for banks being the primary stablecoin issuers initially, with plans to expand issuance to other sectors gradually.

Overall, the Bank of Korea acknowledges the necessity of digital currencies in the future, regardless of their specific form, reflecting a strategic embrace of evolving financial technologies.

Michael Saylor’s company, Strategy, has acquired 21,021 Bitcoin following a massive $2.5 billion initial public offering (IPO), the biggest in the U.S. this year.

This significant purchase came after Strategy raised capital by issuing its fourth preferred stock series, STRC, which helped the firm expand its Bitcoin holdings to a total of 628,791 BTC. The average price per Bitcoin in this transaction was $117,256, marking the company’s largest acquisition since March 31, as reported by BitcoinTreasuries.NET.

Formerly known as MicroStrategy, Strategy sold 28 million shares of its Variable Rate Series A Perpetual Preferred Stock at $90 each, a substantial increase from their original $500 million fundraising target.

This IPO stands out as the most sizeable public offering in the U.S. in 2025, surpassing the $1 billion debut of stablecoin issuer Circle Internet Group earlier this year.

Strategy’s approach involves utilizing various financial instruments—equity, debt, and convertible notes—to fund Bitcoin purchases. This strategy has inspired at least 160 publicly traded companies to add cryptocurrency assets to their balance sheets.

STRC Preferred Stock Sets Nasdaq Debut

The STRC preferred stock is scheduled to begin trading on the Nasdaq, marking it as the first perpetual preferred shares issued by a Bitcoin treasury company listed on a U.S. exchange. It will offer monthly, board-adjusted dividends tailored for investors seeking regular income.

This latest offering joins Strategy’s suite of financial instruments devoted to acquiring Bitcoin, including:

Strike (STRK) – a convertible share with an 8% fixed dividend

Strife (STRF) – a non-convertible preferred stock with a 10% cumulative yield

Stride (STRD) – offers a 10% non-cumulative dividend

Market Reaction and Outlook

Shares of Strategy (MSTR) closed down 2.26% on the announcement day but experienced a slight after-hours gain of 0.52%, settling at $396.7 according to Google Finance.

So far in 2025, MSTR shares have gained roughly 31.55%, a tempered rise compared to a staggering 358.55% increase in 2024.

This Bitcoin purchase was made just days before Strategy’s second-quarter earnings report, which will provide insight into the company’s capital deployment and Bitcoin holdings as of June 30.

Strategy continues to influence the corporate adoption of Bitcoin, leveraging innovative financing to deepen its position in the cryptocurrency market.

Michael Saylor’s company, Strategy, has acquired 21,021 Bitcoin following a massive $2.5 billion initial public offering (IPO), the biggest in the U.S. this year.

This significant purchase came after Strategy raised capital by issuing its fourth preferred stock series, STRC, which helped the firm expand its Bitcoin holdings to a total of 628,791 BTC. The average price per Bitcoin in this transaction was $117,256, marking the company’s largest acquisition since March 31, as reported by BitcoinTreasuries.NET.

Formerly known as MicroStrategy, Strategy sold 28 million shares of its Variable Rate Series A Perpetual Preferred Stock at $90 each, a substantial increase from their original $500 million fundraising target.

This IPO stands out as the most sizeable public offering in the U.S. in 2025, surpassing the $1 billion debut of stablecoin issuer Circle Internet Group earlier this year.

Strategy’s approach involves utilizing various financial instruments—equity, debt, and convertible notes—to fund Bitcoin purchases. This strategy has inspired at least 160 publicly traded companies to add cryptocurrency assets to their balance sheets.

STRC Preferred Stock Sets Nasdaq Debut

The STRC preferred stock is scheduled to begin trading on the Nasdaq, marking it as the first perpetual preferred shares issued by a Bitcoin treasury company listed on a U.S. exchange. It will offer monthly, board-adjusted dividends tailored for investors seeking regular income.

This latest offering joins Strategy’s suite of financial instruments devoted to acquiring Bitcoin, including:

Strike (STRK) – a convertible share with an 8% fixed dividend

Strife (STRF) – a non-convertible preferred stock with a 10% cumulative yield

Stride (STRD) – offers a 10% non-cumulative dividend

Market Reaction and Outlook

Shares of Strategy (MSTR) closed down 2.26% on the announcement day but experienced a slight after-hours gain of 0.52%, settling at $396.7 according to Google Finance.

So far in 2025, MSTR shares have gained roughly 31.55%, a tempered rise compared to a staggering 358.55% increase in 2024.

This Bitcoin purchase was made just days before Strategy’s second-quarter earnings report, which will provide insight into the company’s capital deployment and Bitcoin holdings as of June 30.

Strategy continues to influence the corporate adoption of Bitcoin, leveraging innovative financing to deepen its position in the cryptocurrency market.

BitMine Immersion, known as Ethereum’s largest publicly traded holder and a bitcoin mining firm, has launched a substantial $1 billion open-ended stock buyback program. This initiative allows the company to repurchase outstanding shares via open market or negotiated deals.

Currently, BitMine’s shares are valued below its net asset value (NAV), prompting the firm to opt for stock buybacks over increasing its Ether (ETH) holdings for the time being.

The estimated NAV per share stands at $22.76, with BitMine holding approximately 625,000 ETH and 192 Bitcoin (BTC). According to a recent press release, BitMine prefers leveraging the NAV discrepancy as a strategic signal to repurchase shares, thereby aiming to enhance per-share value and broaden investor exposure to its Ethereum reserves.

In a statement, Tom Lee, BitMine’s chairman since July 8, expressed that pursuing the company’s vision of reaching “the alchemy of 5%” ETH ownership may sometimes warrant capital allocation toward acquiring company shares when it yields the best expected return.

BitMine also holds over $400 million in unencumbered cash, providing ample funding potential for this buyback program.

Ethereum Treasury Strategy: The Alchemy of 5%

Announced on June 30, 2025, BitMine’s long-term goal is to acquire and stake up to 5% of Ethereum’s total supply. Since appointing Tom Lee as chairman, the company has communicated this vision through monthly updates titled “The Alchemy of 5%.”

In the latest update, Lee identified Ethereum as “the most important macro trade for the next decade,” highlighting stablecoins as a pivotal innovation within the crypto landscape. Given that nearly 50% of stablecoins are issued on Ethereum, mainstream adoption is expected to drive ETH’s continued price growth.

The company’s strategy reflects confidence that Ethereum will become foundational to future financial systems and that holding a significant amount of ETH will generate long-term value.

Alongside its ETH assets, BitMine generates operational income from its bitcoin mining activities, utilizing advanced immersion cooling technology to optimize efficiency.

Competition: Sharplink’s Increasing Ether Holdings

Although leading as the largest publicly traded ETH holder, BitMine faces competition. Sharplink Gaming Inc., a digital entertainment company, recently increased its Ether stake by acquiring 77,209.58 additional ETH, totaling approximately 438,190 ETH valued around $1.6 billion.

Sharplink’s chairman, Joe Lubin, conveyed to Bloomberg the company’s strategy to rapidly accumulate more Ether per fully diluted share than other ETH-based projects. However, Lubin emphasized that Sharplink maintains a cautious approach, keeping leverage manageable despite aggressive acquisition plans.

This competitive landscape unfolds as a report from Standard Chartered Bank reveals that public corporations have collectively acquired 1% of all circulating ETH since June. Analyst Geoffrey Kendrick suggested that such ETH treasury entities are in early stages, with potential to multiply holdings tenfold.

Explore more on how traditional finance is integrating Ethereum Layer 2 solutions to tokenize trillions in real-world assets.

A Tornado Cash T-shirt has sparked controversy in the courtroom during the trial of co-founder Roman Storm, drawing attention from both prosecutors and defense lawyers. The shirt, first worn at a 2019 Ethereum conference in Boston, depicted Tornado Cash as a service that “washes” Ether (ETH) using its mixing platform.

During opening statements at the US District Court for the Southern District of New York, Storm’s legal team and prosecutors referenced the T-shirt, which featured a washing machine illustration symbolizing “clean” ETH after using Tornado Cash. Footage from a 2019 ETHBoston attendee reportedly shows Storm wearing the controversial T-shirt.

Assistant US Attorney Kevin Mosley stated in court that Storm profited from what he described as a “giant washing machine for dirty money.” Mosley emphasized that despite knowing Tornado Cash was being used for illicit purposes, Storm chose to continue operations.

In contrast, Storm’s defense characterized the T-shirt as a “meme, a joke in poor taste,” arguing that it was not intended to imply wrongdoing but rather to mock the idea. Defense attorneys brought up the T-shirt again when opposing motions aimed at excluding evidence about hacking incidents linked to the Tornado Cash service.

An individual resembling Roman Storm (left) wearing the Tornado Cash “washing machine” T-shirt at the 2019 ETHBoston event. Source: Web3Auth

The courtroom debate remains unresolved as jurors and Judge Katherine Failla will determine if the shirt’s message is a mere joke or an admission that Storm and Tornado Cash developers were aware of facilitating crypto laundering. Roman Storm faces charges including money laundering, operating an unlicensed money transmitter, and conspiracy to violate U.S. sanctions.

Trial Progress and Defense Strategy

Storm’s criminal trial began with jury selection on July 14 and is expected to run approximately three weeks. Prosecutors concluded their case after presenting testimonies from the FBI, the IRS, and other witnesses involved in hacking investigations.

Supporters, such as a representative from the Golem Foundation that contributed 50 ETH to Storm’s defense fund, criticized the prosecution’s approach, comparing it to blaming banking app developers for scams occurring via their platforms.

On July 29, Storm’s defense team announced that the co-founder will not testify in his own defense. Despite earlier uncertainty, the lawyers rested the defense after several days of witness examination and are poised to offer closing arguments soon.

Related Read: What you need to know about Roman Storm’s Tornado Cash trial

In a striking development, the U.S. Treasury recorded approximately $28 billion in customs duties during July 2025, marking the largest single-month haul recorded so far this year. This surpasses June’s previous peak of about $27 billion, solidifying the trend of sharply rising tariff inflows.

Key Highlights

Monthly High: The July total stands at nearly $28 billion, topping all prior months in 2025 to date.

Consistent Surge: The increase adds to a year-to-date tariff collection that has already exceeded $100 billion, with Treasury forecasting potential annual totals of up to $300 billion by year-end.

Policy Context: This rise follows a broad escalation of trade protectionist measures, raising the average U.S. effective tariff rate to levels unseen since the 1930s.

Broader Economic Implications

Budget Contributions: Tariff revenues, totaling over $100 billion through July, are becoming a major component of federal receipts and are being touted by officials as a key fiscal lever.

Price Pressures: Consumers are expected to bear much of the cost, as tariffs feed into higher retail prices—with significant impacts in import-heavy sectors like auto and apparel.

Political Responses: Amid the revenue uptick, proposals such as rebate checks funded by tariff income—like Senator Hawley’s plan to issue $600 per individual or dependent—are gaining traction.

Looking Ahead

As new trade rates set to take effect on August 1 go into force without further delay, policymakers anticipate ongoing tariff collections. With projections suggesting total revenues could approach $300 billion or more in fiscal 2025, attention is turning to how these funds will be allocated—especially in light of rising inflationary risks and tightening economic headwinds.

In a striking development, the U.S. Treasury recorded approximately $28 billion in customs duties during July 2025, marking the largest single-month haul recorded so far this year. This surpasses June’s previous peak of about $27 billion, solidifying the trend of sharply rising tariff inflows.

Key Highlights

Monthly High: The July total stands at nearly $28 billion, topping all prior months in 2025 to date.

Consistent Surge: The increase adds to a year-to-date tariff collection that has already exceeded $100 billion, with Treasury forecasting potential annual totals of up to $300 billion by year-end.

Policy Context: This rise follows a broad escalation of trade protectionist measures, raising the average U.S. effective tariff rate to levels unseen since the 1930s.

Broader Economic Implications

Budget Contributions: Tariff revenues, totaling over $100 billion through July, are becoming a major component of federal receipts and are being touted by officials as a key fiscal lever.

Price Pressures: Consumers are expected to bear much of the cost, as tariffs feed into higher retail prices—with significant impacts in import-heavy sectors like auto and apparel.

Political Responses: Amid the revenue uptick, proposals such as rebate checks funded by tariff income—like Senator Hawley’s plan to issue $600 per individual or dependent—are gaining traction.

Looking Ahead

As new trade rates set to take effect on August 1 go into force without further delay, policymakers anticipate ongoing tariff collections. With projections suggesting total revenues could approach $300 billion or more in fiscal 2025, attention is turning to how these funds will be allocated—especially in light of rising inflationary risks and tightening economic headwinds.