Summary
gm, Ondo Finance acquired Oasis Pro to expand into the US tokenized securities market, positioning itself to compete with Robinhood in offering tokenized stocks to American investors. Meanwhile, a dormant Bitcoin whale made headlines by moving 80,000 BTC (approximately $8.6 billion) that had remained untouched for 14 years, prompting speculation about potential market impacts and even concerns from Coinbase executive Conor Grogan about a possible hack. In regulatory news, US Senator Cynthia Lummis introduced a draft bill proposing tax exemptions for certain crypto transactions and deferring taxes on mining and staking rewards, potentially fueling DeFi growth, while Sweden's Justice Minister urged authorities to increase seizures of criminal crypto assets under new legislation allowing confiscation without proving an offense.

News Headlines
⚠️ How a Hacker Spent Only $2.7K to Steal $140 Million From Brazilian Banks

  • A hacker stole $140 million from Brazilian banks by spending just $2,760 to bribe an employee of C&M Software who had access to Brazil's central banking infrastructure, creating a backdoor into reserve accounts of multiple financial institutions.
  • Following the theft, criminals converted $30-40 million into cryptocurrencies including Bitcoin, Ethereum, and Tether, marking the largest digital heist in Brazilian history and exposing vulnerabilities in centralized banking systems.

🐕 DOGE double-bottom pattern hints at price rebound to $0.25

  • Dogecoin (DOGE) has formed a double bottom pattern and broken through a trendline, suggesting potential for a price rebound to $0.25 from its current trading level around $0.17, with technical analysis showing established support at $0.15.
  • Despite mixed on-chain metrics indicating high loss levels among holders, the memecoin sector has outperformed other crypto segments with a return of 56.67% over 90 days, reflecting strong retail enthusiasm and suggesting substantial growth potential.

🏦 JPMorgan: DeFi and TradFi Convergence Closer Than Ever

  • JPMorgan's blockchain lead, Nelli Zaltsman, indicated that the convergence of decentralized finance (DeFi) and traditional finance (TradFi) could happen sooner than expected, highlighting the bank's efforts to merge institutional-grade payment systems with blockchain assets.
  • The recent pilot with Chainlink and Base is viewed as a critical step in connecting traditional capital with digital asset markets, with both Zaltsman and Chainlink's co-founder believing improved infrastructure will accelerate the merger of these financial systems.

🚫 Turkish Authorities Block PancakeSwap in Crypto Crackdown

  • Turkish authorities have blocked access to 46 websites providing unauthorized crypto asset services, including the popular decentralized exchange PancakeSwap.
  • The Capital Markets Board of Turkey cited the country's Capital Markets Law as the basis for the crackdown, targeting platforms operating without proper authorization.

💰 Small possibility $8.6B Bitcoin transfer was due to hack: Coinbase exec

  • Coinbase's head of product, Conor Grogan, suggested the recent $8.6 billion Bitcoin transfer might potentially be the result of a hack, noting a suspicious Bitcoin Cash transaction occurred shortly before the transfer which raised concerns about private key integrity.
  • Blockchain intelligence firm Arkham confirmed the entire $8.6 billion worth of Bitcoin was transferred from wallets created in 2011, with Bitcoin's price remaining relatively stable at approximately $108,150 despite the significant movement.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
🏦 Hong Kong Launches Third Round of Tokenized Green Bonds

  • Hong Kong is preparing its third issuance of tokenized green bonds as part of a comprehensive strategy to establish itself as a leader in the crypto finance sector.
  • The government plans to make tokenized bonds a regular part of its debt portfolio and will implement a licensing regime for stablecoin issuers starting August 1, advancing its Digital Asset Development Policy 2.0.

💸 Bill Miller Challenges Bitcoin Tax Logic

  • Investment manager Bill Miller IV argues that taxing Bitcoin is illogical because, unlike traditional assets, it requires no government infrastructure to manage ownership rights.
  • Miller suggests that taxes typically fund enforcement of property rights, which doesn't apply to Bitcoin since its ownership is verified through blockchain technology rather than government systems.

🌎 Mercado Bitcoin Tokenizes $200M in Real-World Assets on XRP Ledger

  • Latin American crypto exchange Mercado Bitcoin announced the tokenization of $200 million in real-world assets including fixed-income and equity instruments on the XRP Ledger.
  • This move aligns with industry forecasts that predict RWA market capitalization could reach $19 trillion by 2033, highlighting the growing significance of tokenization in traditional finance.

📊 US Recession Odds Drop to 22% on Prediction Markets

  • Polymarket shows recession odds for 2025 have fallen to 22%, their lowest level since February, as trade tensions ease and financial conditions improve.
  • Major banks including Goldman Sachs have lowered their recession probability estimates, reflecting improved market sentiment despite earlier concerns about potential economic contraction.

💱 Robinhood's 24/7 Tokenized Stock Trading Challenges Traditional Exchanges

  • Robinhood announced plans to tokenize stocks on its new Ethereum-compatible blockchain, allowing 24/7 trading and near-instant settlement that could divert significant trading volume from traditional exchanges like NYSE.
  • Galaxy Digital warns that traditional exchanges may struggle to compete unless they can offer similar utilities, though regulatory uncertainties from the SEC could complicate implementation.

Technical Analysis
Bitcoin - Bitcoin is within an approximate horizontal trend channel in the short term, which indicates further development in the same direction. An inverse head and shoulders formation is under development. A decisive break of the resistance at 108946, ideally with an increase in volume, signals a further rise. The currency has given a positive signal from the rectangle formation by a break up through the resistance at 107710. Further rise to 115727 or more is signaled. The currency is approaching resistance at 110000 points, which may give a negative reaction. However, a break upwards through 110000 points will be a positive signal. The currency is overall assessed as technically slightly positive for the short term.

Ethereum - Investors have accepted lower prices over time to get out of Ethereum and the currency is in a falling trend channel in the short term. This signals increasing pessimism among investors and indicates further decline for Ethereum. The currency is testing support at points 2490. This could give a positive reaction, but a downward breakthrough of points 2490 means a negative signal. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This weakens the falling trend and could be an early signal of a coming trend break. The currency is overall assessed as technically neutral for the short term.