Summary
gm, Bitcoin continued its ascent to new all-time highs, reaching $122,310 with diminishing volatility signaling market maturation as institutional investors drive prices higher while retail interest remains notably low. PayPal announced plans to launch its stablecoin PYUSD on the Stellar network, triggering a 22% surge in XLM's price as the integration aims to enhance cross-border payments across 180 countries. Meanwhile, significant institutional adoption continued with SharpLink Gaming acquiring $48.85 million in Ethereum, Metaplanet purchasing 797 Bitcoin, and Bank of England Governor Andrew Bailey warning against private stablecoin issuance, suggesting central banks should focus on tokenizing deposits instead to avoid potential threats to the financial system.

News Headlines
💰 Satoshi Nakamoto Becomes 11th Richest Person in the World

  • Bitcoin's creator Satoshi Nakamoto has become the 11th richest person globally, holding approximately 1.096 million BTC valued at over $131 billion as Bitcoin reached $120,000.
  • Bloomberg analyst Eric Balchunas predicts Nakamoto could become the second-richest billionaire by the end of 2026 if Bitcoin continues following its historical growth trends, which would require a price of approximately $370,000.

🎮 Why Are So Many Crypto Games Shutting Down?

  • The crypto gaming sector is experiencing a significant downturn with numerous projects shutting down due to financial mismanagement, lack of sustainable funding, and premature token launches.
  • Industry veterans assert that successful blockchain games need to appeal to both crypto and traditional gamers, with projects like Reaper Actual and Off the Grid potentially offering a path forward by prioritizing game quality over token economics.

🔄 Czech National Bank Adds Coinbase Shares, Increases Palantir Stake

  • The Czech National Bank expanded its investment portfolio by acquiring 51,732 shares of Coinbase valued at over $18 million while increasing its Palantir holdings with an additional 49,135 shares in Q2.
  • Coinbase's shares have risen significantly despite a 95% drop in net income due to a major paper loss on crypto holdings, though earnings per share surpassed analyst expectations as the company continues to expand its market presence.

📱 Animoca Brands Partners with DDC Enterprise on Bitcoin Treasury Strategy

  • Animoca Brands has signed an agreement with DayDayCook (DDC) Enterprise to manage and generate yield from its Bitcoin treasury, allocating up to $100 million in BTC to DDC.
  • This partnership highlights a growing trend of companies adopting Bitcoin as a treasury strategy to hedge against inflation, with 268 institutions currently holding BTC and public companies representing the largest category of institutional holders.

📉 James Wynn, High-Leverage Crypto Trader, Deletes X Account After Massive Losses

  • High-leverage crypto trader James Wynn has deactivated his X social media account after incurring significant losses estimated in the nine digits, with his wallet balances plummeting to just $10,176 from an initial $100 million.
  • Wynn had a notable incident in May 2025 where he lost 949 BTC when Bitcoin prices dropped below $105,000, openly admitting to not practicing proper risk management and describing his trading as akin to gambling.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
💰 British Crypto Fintech Ziglu Faces $2.7M Shortfall

  • Ziglu has entered special administration with a $2.7 million shortfall, putting approximately 20,000 customers at risk of financial losses after withdrawals were halted in May.
  • The company's "Boost" product, which promised yields up to 6%, misused customer funds for operations rather than ring-fencing them, leaving 4,000 investors with frozen investments totaling $3.6 million.

⚖️ Tornado Cash Co-Founder Alleges Evidence Misrepresentation

  • Roman Storm's legal team claims U.S. prosecutors presented misleading Telegram evidence in his criminal case by failing to properly attribute messages obtained from co-defendant Alexey Pertsev's phone.
  • The government has acknowledged that earlier Telegram logs omitted critical metadata that could have clarified message context, potentially undermining their reliability as evidence.

💎 Dolce & Gabbana USA Escapes NFT Class-Action Lawsuit

  • A New York federal court has dismissed a class-action lawsuit against Dolce & Gabbana USA regarding unfulfilled promises in the 'DGFamily' NFT project, ruling that the US arm is not an 'alter ego' of its Italian parent company.
  • Plaintiffs had claimed over $25 million in unfulfilled promises including Decentraland metaverse perks and live event access from the 2022 NFT project.

🗳️ Cryptographic Safeguards for U.S. Elections Remain Unimplemented

  • Former voting machine auditor Michal Pospieszalski reveals that U.S. election systems continue to lack essential cryptographic safeguards despite critical flaws being identified as far back as 2006.
  • Without proper encryption, voting machines cannot verify if ballots are legitimate or counted multiple times, creating vulnerabilities in the electoral process.

💬 Binance Founder Implicates Coinbase in Bloomberg's Trump Stablecoin Report

  • Changpeng "CZ" Zhao shared allegations that Coinbase executives might be the unidentified source behind Bloomberg's report on Trump's crypto project, motivated by concerns that a potential presidential pardon for Zhao could enable Binance to re-enter the U.S. market.
  • The controversy connects to Trump's USD1 stablecoin, with over 90% of tokens currently held in Binance wallets, indicating significant financial implications.

Technical Analysis
Bitcoin - Bitcoin has broken up from an approximate horizontal trend channel in the short term after investors have paid ever more. A positive signal has been triggered and further increase for the currency is indicated. 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, with high volume on days of rising prices and low volume on days of falling prices, strengthens the currency in the short term. 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 2780 points. Positive volume balance indicates that volume is high on days with rising prices and low on days with falling prices, which strengthens the currency. 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.