Summary
gm, Ripple applied for a national banking charter from the OCC, joining Circle in seeking federal oversight for stablecoin operations, which prompted a 3% increase in XRP's price. Meanwhile, the launch of REX-Osprey Solana + Staking ETF marked a milestone as the first U.S. staking ETF, generating $12 million in first-day inflows and contributing to Solana's 4% price increase. Additionally, Bitcoin experienced a notable rally to $109,500 amid weakening U.S. job data, suggesting potential Federal Reserve rate cuts that could boost crypto markets.

News Headlines
🔄 Standard Chartered Forecasts Bitcoin to Hit $135K in Q3

  • Standard Chartered Bank predicts Bitcoin will reach new heights of $135,000 by the end of Q3 2025, potentially exceeding $200,000 by year-end, driven by increasing corporate treasury buying and substantial ETF inflows.
  • Unlike previous halving cycles that typically led to price declines, the bank believes new supportive factors like ETFs and corporate treasury strategies will sustain the bullish trend despite possible volatility in late Q3.

🌐 Peter Thiel Backs New Crypto-Friendly Bank for Startups

  • Peter Thiel and tech leaders including Palmer Luckey and Joe Lonsdale are launching Erebor Bank to fill the void left by Silicon Valley Bank's collapse, specifically catering to cryptocurrency and AI startups.
  • The bank, which has applied for a national charter, plans to add stablecoins to its balance sheet and serve venture-backed startups that traditional banks often reject due to their high-risk profiles.

📱 Binance Pay Brings Crypto Payments to 80+ French Riviera Merchants

  • Binance Pay has partnered with French fintech Lyzi to enable crypto payments at over 80 businesses in the French Riviera, including Cannes, Nice, Antibes, and Monaco.
  • The initiative allows both locals and tourists to pay in various cryptocurrencies at hotels, restaurants, and luxury retailers by scanning QR codes, with promotional rewards offered in euro-pegged stablecoins.

📈 BlackRock's Bitcoin ETF Generates More Revenue Than Its S&P 500 Fund

  • BlackRock's iShares Bitcoin Trust (IBIT) is generating approximately $187.2 million in annual fees with $52 billion in assets, surpassing the revenue from its flagship S&P 500 ETF which manages $624 billion but charges only 0.03%.
  • This milestone highlights the significant premium investors are willing to pay for regulated Bitcoin exposure through established financial institutions, despite IBIT being launched just months ago in January 2024.

🧠 Ethereum's Buterin Warns Decentralization Must Be More Than a "Catchphrase"

  • Ethereum co-founder Vitalik Buterin warned that decentralization must evolve from a mere catchphrase to concrete user guarantees, proposing practical tests including the "walk-away test" to verify if users retain asset access if a company fails.
  • Buterin criticized current layer-2 networks and DeFi projects for potentially relying on backdoors and insecure interfaces, emphasizing that failing to uphold core decentralization principles could diminish Ethereum's competitive edge.

Market Metrics

Fundraising & VC
1. TWL Miner (Series B, $95M) - Renewable energy-powered cloud mining platform
2. Limitless (Strategic, $4M) - Decentralized social prediction protocol
3. AllScale (Undisclosed, $1.5M) - Stablecoin payroll, invoicing, and settlement
4. XO Market (Pre-seed, $500K) - Permissionless conviction market protocol

Regulatory
🌐 Major Crypto Exchanges Launch MiCA-Compliant EU Platforms

  • Crypto exchanges Bybit and OKX have launched fully regulated platforms in Europe, operating under the Markets in Crypto Assets (MiCA) framework.
  • Bybit.eu serves EEA users with a Crypto-Asset Service Provider license across 29 countries, while OKX has established a centralized exchange in France.

💸 Treasury Sanctions Russian Crypto Hosting Provider

  • The U.S. Treasury's OFAC has sanctioned Russian hosting provider Aeza Group for facilitating cybercriminal activities including ransomware attacks.
  • The sanctions block all Aeza Group properties within U.S. jurisdiction and prohibit U.S. persons from transacting with them.

💱 Deutsche Bank Venture to Launch MiCA-Compliant Stablecoin

  • Deutsche Bank's DWS, Galaxy, and Flow Traders have formed AllUnity, which received a BaFin license to launch EURAU, Germany's first MiCA-compliant euro stablecoin.
  • The stablecoin will be fully collateralized with institutional-grade transparency through proof of reserves and regulatory reporting.

🔒 Arizona Governor Vetoes Seized Crypto Reserve Fund Bill

  • Arizona Governor Katie Hobbs vetoed House Bill 2324, which aimed to establish a fund from seized cryptocurrency to be shared between law enforcement and the state.
  • Hobbs argued the bill would disincentivize local enforcement from collaborating with the state on digital asset forfeiture by removing seized assets from local jurisdictions.

🏦 SEC Approves Grayscale Crypto Index Fund, Then Pauses

  • The SEC initially approved Grayscale's Digital Large Cap Fund conversion to an ETF, which would hold Bitcoin, Ethereum, Solana, XRP, and Cardano, but later issued a stay for further review.
  • This represents a significant step for crypto index funds, as previous spot ETFs had been limited primarily to Bitcoin and Ethereum individually.

Technical Analysis
Bitcoin - Bitcoin is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The currency has broken a rectangle formation. A decisive break of the resistance at 107710 will signal a further rise to 115727 or more. The currency is testing resistance at points 109000. This could give a negative reaction, but an upward breakthrough of points 109000 means a positive signal. The currency is overall assessed as technically neutral for the short term.

Ethereum - Ethereum is in a falling trend channel in the short term. This shows that investors over time have sold at lower prices to get out of the currency, and indicates negative development for the currency. The currency is between support at points 2490 and resistance at points 2770. A definitive break through of one of these levels predicts the new direction. The currency is assessed as technically neutral for the short term.