Summary
gm, Bitcoin reached a new all-time high above $118,000, triggering over $1 billion in short liquidations across the market. Ethereum reclaimed the $3,000 level for the first time since February, bolstered by substantial ETF inflows totaling $383.1 million in a single day. On the regulatory front, the IRS formally rescinded a controversial rule that would have imposed traditional broker reporting requirements on DeFi platforms, while the U.S. House prepares for "Crypto Week" to debate three significant bills related to stablecoins, market structure, and CBDCs. Additionally, institutional interest in the sector continues to grow, with companies like SharpLink Gaming purchasing 10,000 ETH directly from the Ethereum Foundation and Tether announcing plans to discontinue USDT support on five legacy blockchains to focus on more scalable networks.

News Headlines
💹 Fidelity is Valuing ETH as Money

  • Fidelity Investments has proposed valuing blockchains based on GDP, suggesting decentralized blockchains should be compared to sovereign nations rather than Web2 companies due to their embedded currencies.
  • The approach applies GDP metrics to Ethereum: consumption (gas fees/NFT minting), investment (staked assets), government spending (Ethereum Foundation expenditures), and net exports (stablecoin activity and cross-chain flow), though critics question including stablecoins in calculations.

🏢 Japan's Gates to Tokenize $75M in Tokyo Real Estate on Oasys Blockchain

  • Gates Inc. and Oasys have partnered to tokenize $75 million worth of real estate in central Tokyo, part of Gates' broader plan to tokenize over $200 billion in assets, targeting about 1% of Japan's real estate market.
  • The partnership ensures regulatory compliance through a special purpose vehicle overseas and is developing a token economy with automatic reinvestment of returns, with plans to expand tokenization internationally to markets such as the U.S., Europe, and parts of Asia.

💱 Tether to End USDT Redemptions on Bitcoin Cash, Algorand and Beyond

  • Tether will cease support for USDT on five blockchains (Bitcoin Cash, Algorand, Kusama, EOS, and Omni Layer) effective September 1, freezing remaining assets on these networks to optimize infrastructure.
  • CEO Paolo Ardoino emphasized the need to adapt to the evolving digital asset ecosystem, focusing resources on more active and scalable blockchains, with USDT holders on affected chains encouraged to redeem their tokens or request issuance on supported networks.

🏛️ Ex-Bitfury Executive Receives Senate Nod to Head Banking Regulator

  • Jonathan Gould, formerly chief legal officer at Bitfury, has been confirmed by the U.S. Senate to lead the Office of the Comptroller of the Currency (OCC) following a 50-45 vote along party lines.
  • The OCC would oversee federally licensed stablecoin issuers under the proposed GENIUS Act, impacting a market valued at over $250 billion, aligning with the trend of pro-crypto regulators taking key roles in federal financial agencies.

📊 Bitcoin ETFs Post Second-Biggest Day Ever: Why It Matters

  • U.S. Bitcoin ETFs recorded $1.17 billion in inflows on July 11, 2025, marking their second-largest day since inception, with BlackRock's IBIT leading at $448.5 million, followed by Fidelity's FBTC and ARK's ARKB.
  • Analysts predict this trend could unlock an additional $8 to $10 billion in institutional investment in the second half of 2025, as recent SEC guidance offered clarity that institutional investors have been seeking.

Market Metrics

Fundraising & VC
1. Uweb (Angel, $3M) - Web3 education and research platform
2. MemeCore (Strategic, Undisclosed) - Memecoin Layer 1 blockchain

Regulatory
📝 US Lawmakers to Discuss Crypto Tax Policy Framework

  • The House of Representatives will hold a hearing on July 16 to discuss establishing a contemporary tax policy framework for digital assets.
  • The hearing coincides with broader legislative efforts to pass bills on central bank digital currencies, stablecoins, and market structure during "crypto week."

⚖️ Roman Storm's Legal Team May Seek Trial Delay

  • Roman Storm, co-founder of Tornado Cash, may seek a trial continuance if the court allows testimony from an unnamed hacker who used the platform.
  • His defense team argues that the late disclosure of this witness by prosecutors could be highly prejudicial to their case.

🐲 Shanghai Officials Warm to Stablecoins Despite China's Crypto Ban

  • Shanghai officials and state-owned publications in China are increasingly advocating for a reevaluation of the government's stance on stablecoins.
  • The Shanghai SASAC recently convened to discuss potential strategies regarding the growing global adoption of stablecoins.

🚨 Crypto Scammer's Sentence Increased to 12 Years

  • Nicholas Truglia, convicted of SIM-swapping and stealing over $20 million in cryptocurrency, was resentenced from 18 months to 12 years in prison.
  • The significant sentence increase came after his failure to repay restitution to his victim, Michael Terpin, despite having assets exceeding $61 million.

📊 SEC Faces Criticism for ETF Approval Delay

  • Grayscale is challenging the SEC's decision to pause the launch of its ETF that includes Bitcoin, Ethereum, Solana, XRP, and Cardano.
  • In a legal letter, Grayscale argued that investors are suffering harm due to the delay and claimed the SEC is circumventing legislation meant to ensure timely regulatory decisions.

Technical Analysis
Bitcoin - Bitcoin has broken up from an approximate horizontal trend channel in the short term. This signals a continued strong development, and the currency now meets support on possible reactions down towards the ceiling of the trend channel. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 107710. The objective at 115727 is now met, but the formation still gives a signal in the same direction. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 109000 points. Positive volume balance shows that volume is higher on days with rising prices than days with falling prices. This indicates increasing optimism among investors. RSI is above 70 after a good price increase the past weeks. The currency has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum has broken up through the ceiling of the rising trend channel in the short term, which signals an even stronger rising rate. The positive development, however, may give rise to short term corrections down from today's level. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 2760 points. RSI above 70 shows that the currency has strong positive momentum in the short term. Investors have steadily paid more to buy the currency, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically positive for the short term.