Summary
gm, US President Trump signed two executive orders that could reshape the industry. The first order prohibits "debanking" of crypto firms, addressing a long-standing industry concern about access to banking services. The second allows cryptocurrencies in 401(k) retirement accounts, potentially directing billions into digital assets, with analysts estimating a potential influx of $125-625 billion over time. Meanwhile, the SEC and Ripple officially ended their legal battle with a joint stipulation to dismiss appeals, which contributed to XRP surging over 10% as trading volumes increased 200%. Additionally, Ethereum broke above $4,000 for the first time in eight months, while major institutions continue to enter the space, as evidenced by Harvard University's $116 million investment in BlackRock's Bitcoin ETF.

News Headlines
šŸ§  OpenAI Finally Launches GPT-5 After Months of Speculation

  • OpenAI unveiled GPT-5 during a livestream event, featuring a simpler interface and significantly enhanced capabilities, including the ability to generate software programs from scratch, which CEO Sam Altman highlighted as a defining feature.
  • However, the rollout faces criticism from users reporting slow performance, erratic outputs, and missing features, with complaints about responses being less engaging and more robotic compared to previous versions.

āš” UK's Union Jack Oil to Turn Stranded Gas Into Bitcoin

  • UK oil company Union Jack Oil plans to mine Bitcoin using stranded gas from its West Newton site, converting natural gas into electricity to power mining operations in what could be one of the UK's first "oil-to-crypto" projects.
  • This initiative aims to generate early cash flow despite regulatory hurdles delaying gas development, aligning with a growing industry trend where energy companies like ConocoPhillips and Tecpetrol are using Bitcoin mining to monetize otherwise wasted gas.

šŸ¦ Binance Partners With BBVA to Hold Trader Margin in Treasuries

  • Binance has partnered with Spain's second-largest bank, BBVA, to secure client collateral off-exchange, allowing traders to store their margin (primarily U.S. Treasuries) with BBVA instead of on Binance's platform.
  • This arrangement aims to rebuild trust following Binance's regulatory challenges and represents a significant shift toward traditional finance standards, enhancing security by segregating client funds from exchange operational risks.

šŸ” Bitcoin Whale Moves $349 Million After 10-Year Slumber

  • A Bitcoin whale has awakened after 10 years of dormancy, transferring 3,000 BTC worth over $349 million from 30 addresses to new Bitcoin addresses on August 7, 2025.
  • This movement is part of a trend of long-term investors activating dormant holdings, which can create selling pressure in the market as observers anticipate these large holders may start liquidating their assets.

šŸ”„ Winklevoss Twins Back Trump Sons' Bitcoin Mining Company

  • Cameron and Tyler Winklevoss have invested an undisclosed amount of Bitcoin in American Bitcoin Corp., a crypto mining company co-founded by Donald Trump Jr. and Eric Trump, further deepening ties between the Winklevoss twins and the Trump family.
  • The investment was made in Bitcoin rather than cash, with the mining company planning to go public on the Nasdaq after merging Hut 8's mining assets with Gryphon Digital Mining, and recently purchasing $2 billion in Bitcoin as part of its treasury strategy.

Market Metrics

Fundraising & VC
1. Perle (Seed, $9M) - Web3-powered AI platform
2. Multiple Network (Strategic, Undisclosed) - Web3 privacy acceleration solution for AI
3. TradeTide AI (Seed, Undisclosed) - Cross-chain AI-powered crypto strategy platform

Regulatory
šŸŒ Hong Kong Pursues Regulated Stablecoin Market

  • Standard Chartered and Animoca Brands have formed a joint venture called Anchorpoint to apply for a Hong Kong dollar stablecoin issuer license.
  • This initiative follows Hong Kong's recent implementation of a fiat-referenced stablecoin licensing framework on August 1.

šŸ›ļø Ukraine to Consider Crypto Regulation Bill in Late August

  • Ukraine's parliament will review a bill to regulate the crypto market by late August, aiming to create a framework aligned with European standards.
  • The legislation would allow individuals to legalize previously acquired digital assets by paying a 5% personal income tax and a 5% military duty.

šŸ’ø EthereumMax Investors Score Partial Victory in Celebrity Lawsuit

  • A California judge has allowed class-action lawsuits from four states to proceed against celebrities including Kim Kardashian, Floyd Mayweather, and Paul Pierce for promoting the EMAX token.
  • The judge declined a nationwide class due to complications with varying state laws but opened the door for civil actions in California, New York, Florida, and New Jersey.

āš ļø Tornado Cash Conviction Raises Alarm for Open-Source Developers

  • Roman Storm's conviction sets a troubling precedent suggesting developers could be held criminally liable for how others use their code.
  • Legal experts warn the ruling could discourage innovation and cast a shadow over the entire open-source community.

āš–ļø Ethereum Foundation Pledges $500K for Tornado Cash Developer's Defense

  • The Ethereum Foundation has committed to matching up to $500,000 in donations for the legal defense of Roman Storm, Tornado Cash co-founder.
  • Storm was convicted of operating an unlicensed money transmitter but faces potential retrial on deadlocked charges of money laundering and sanctions violations.

Technical Analysis
Bitcoin - Investors have paid higher prices over time to buy Bitcoin and the currency is in a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. The currency is moving within a rectangle formation between support at 113038 and resistance at 118077. A decisive break through one of these levels indicates the new direction for the currency. The currency has support at points 113500 and resistance at points 120800. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The currency has broken up through resistance at points 3900. This predicts a further rise. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The currency is overall assessed as technically positive for the short term.