Summary
gm, Crypto funds experienced a record weekly inflows of $4.4 billion, bringing total assets under management above $220 billion for the first time. Ethereum has emerged as a standout performer, with ETH ETFs attracting a record $2.2 billion in inflows, while its gas limit is poised to increase to 45 million as validators signal support for network expansion. Notable corporate Bitcoin acquisitions continue, including Strategy's purchase of 6,220 BTC for $739.8 million and Trump Media's reported $2 billion Bitcoin treasury investment, while altcoins show renewed strength with Solana surpassing $200 and the NFT market experiencing a 21% surge in market capitalization, driven primarily by Ethereum-based collections.

News Headlines
🔄 Ethereum Hard Fork Fusaka To Launch In November

  • Ethereum's next major hard fork, Fusaka, is targeted for November and will include 11 Ethereum Improvement Proposals focused on network resilience against attacks and scalability enhancements.
  • The first public testnet is set to launch in late September, followed by the Glamsterdam upgrade in 2026, which may include further enhancements like reduced block time to improve user experience.

🔍 Teenager Stole $243M in Bitcoin Through Social Engineering Scam

  • A 19-year-old hacker, Veer Chetal, along with two accomplices, stole 4,100 BTC worth $243 million through a sophisticated social engineering scam that involved impersonating Google and Gemini support.
  • The hackers made critical mistakes that led to their identification, including leaking their names during a livestream, with Chetal even attempting further illicit activities while out on bail.

📱 Conflux's CFX Up 100% on Stablecoin and Upgrade Announcements

  • Conflux's native token CFX has surged over 100% in 24 hours following the announcement of a new offshore yuan-pegged stablecoin and the upcoming launch of Conflux 3.0 protocol upgrade.
  • Trading volume skyrocketed to over $1.7 billion from less than $60 million just days prior, with Conflux 3.0 promising throughput of up to 15,000 transactions per second when it launches in August.

🏧 UK Authorities Seize Crypto ATMs in Money Laundering Crackdown

  • UK authorities seized seven crypto ATMs and made two arrests in London on suspicion of money laundering and operating illegal exchanges.
  • The Financial Conduct Authority emphasized that no crypto ATMs are currently operating legally in the UK, and operating without FCA registration is a criminal offense.

🖼️ NFT Market Sees Surge as CryptoPunks, Penguins Prices Rise

  • The NFT market is experiencing a significant resurgence, with CryptoPunks' floor price spiking by 15.9% to 47.50 ETH and Pudgy Penguins increasing by over 15% to 16.60 ETH.
  • The overall NFT market cap has surged by 21.2%, now valued at over $6.34 billion, with daily sales volume reaching $38.7 million—a 303% increase from previous levels.

Market Metrics

Fundraising & VC
1. Quack AI (Undisclosed, $3.6M) - AI governance layer for Web3
2. Nubit (Strategic, Undisclosed) - Bitcoin boosting network for native assets, trading, and verification

Regulatory
📜 SEC Explores Ethereum Standard for Compliant Securities

  • The SEC's Crypto Task Force met with Ethereum-focused organizations to discuss token standards that could facilitate compliant issuance and transfer of tokenized securities.
  • Dennis O'Connell, president of the ERC-3643 Association, noted a significant shift in the SEC's tone toward supporting industry-led standards for blockchain compliance.

⚖️ Judge Allows Testimony on Tornado Cash Modifications in Storm Trial

  • Judge Katherine Failla permitted testimony about technically feasible modifications to Tornado Cash that could have prevented criminal use in the ongoing trial of Roman Storm.
  • The witness will argue that Storm could have implemented features to deter illicit activities but chose not to, potentially strengthening the prosecution's case.

🏛️ DC Embraces DeFi with Landmark Legislation

  • U.S. Congress has formally recognized decentralized finance with significant legislation that distinguishes it from centralized finance.
  • Key amendments to the CLARITY Act clarified that DeFi activities such as publishing code or providing wallets don't require registration when they don't involve custody of assets.

🌐 COINS Act Proposes Regulatory Framework for India

  • The model COINS Act, introduced by Web3 firm Hashed Emergent and policy advisory Black Dot, aims to establish clearer crypto regulations in India including a dedicated Crypto Assets Regulatory Authority.
  • Current taxation issues in India, including a 30% tax on crypto profits and 1% transaction tax, are highlighted as barriers to innovation that have driven projects out of the country.

💱 Thailand SEC Eases Crypto Investor Testing Requirements

  • The Thai SEC is proposing rule changes to reduce knowledge testing requirements for retail crypto investors using ICO portals.
  • Investors who have previously passed knowledge tests would be exempt from retesting, modifying the current three-month retesting requirement.

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. Rising trends indicate that the currency experiences positive development and that buy interest among investors is increasing. 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. The currency has support at points 110000 and resistance at points 121000. The currency is overall assessed as technically positive for the short term.

Ethereum - Investors have paid higher prices over time to buy Ethereum and the currency is in a rising trend channel in the short term. Rising trends indicate that the currency experiences positive development and that buy interest among investors is increasing. 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. The volume balance is positive and strengthens the currency in the short term. 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.