Summary
gm, Ether Machine announced a $1.5 billion yield-bearing Ethereum fund targeting institutional investors, capitalizing on the momentum from the recently passed GENIUS Act. In a historic transaction, Galaxy Digital facilitated the sale of 80,000 Bitcoin (worth $9 billion) for a Satoshi-era investor, representing one of the largest crypto transactions ever while having minimal impact on Bitcoin's price. Meanwhile, Ethereum ETFs continue their impressive streak with 16 consecutive days of inflows totaling $453 million, with BlackRock's ETHA reaching $10 billion in assets in just 251 days. On the regulatory front, the DOJ is considering charges against venture capital firm Dragonfly Capital related to its investment in Tornado Cash, raising significant questions about developer liability in decentralized finance.

News Headlines
⚠️ Robert Kiyosaki Warns of the Risk Posed by BTC, Gold and Silver ETFs

  • Financial educator Robert Kiyosaki has expressed concerns over ETFs for Bitcoin and precious metals, arguing they don't grant actual ownership of the underlying assets but merely provide paper claims.
  • Bloomberg analyst Eric Balchunas counters Kiyosaki's claims, asserting that ETFs have stringent legal mandates ensuring proper asset custody with one-for-one backing of actual Bitcoin, potentially making them safer than self-custody for high-net-worth investors.

📊 Crypto Stock Outlooks Fluctuate After GENIUS Act, Ahead of Q2 Reports

  • Analysts have adjusted their outlook on crypto stocks following the GENIUS Act, with Compass Point downgrading Circle's stock from neutral to sell, lowering its target price from $205 to $130 due to anticipated increased competition.
  • Meanwhile, Jefferies initiated coverage of Galaxy Digital with a buy rating and a target price of $35, citing advantages in data center operations and potential revenue from stablecoin opportunities post-GENIUS legislation.

📱 Real-time Crypto Laundering Exposes CEX Vulnerabilities

  • Over $3.01 billion was stolen across 119 crypto hacks in the first half of 2025, with attackers often completing laundering within minutes, sometimes before hacks are even disclosed.
  • Centralized exchanges (CEXs) are particularly vulnerable, accounting for 54.26% of losses, highlighting the urgent need for real-time automated monitoring and response systems to detect illicit activities quickly.

💥 Why Won't PUMP Stop Dumping? Bears Are in Complete Control

  • Pump.fun's PUMP token has plummeted over 63% since its $600 million ICO, now trading at just $0.0024 due to unmet investor expectations, particularly regarding a promised airdrop that's been delayed indefinitely.
  • Technical analysis shows strong selling pressure with deeply oversold indicators, while Pump.fun loses market share to competitors like LetsBonk, suggesting sellers remain firmly in control with further price decreases likely.

🔍 Bitcoin Derivatives Data Questions the Strength of BTC's $115K Support

  • Bitcoin traders have grown cautious as the price approaches the critical $115,000 support level, though derivatives markets show neutral sentiment with a 7% annualized premium over spot markets.
  • The lack of panic in the markets suggests traders are more focused on potential global trade tensions and the Federal Reserve's actions rather than immediate issues within the crypto market itself.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
💰 Wyoming Launches State-Backed Stablecoin as CBDC Alternative

  • Wyoming aims to be the first U.S. state to launch its own stablecoin, the Wyoming Stable Token (WYST), with future plans to enable yield features that could directly support the state's school system.
  • Unlike CBDCs, WYST is anticipated to be backed by U.S. Treasuries and maintains constitutional protections against federal overreach.

🌐 Russian Entities Using Kyrgyzstan's Crypto Industry to Evade Sanctions

  • A TRM Labs report reveals that Russian entities are exploiting Kyrgyzstan's cryptocurrency industry to bypass international sanctions imposed after the Ukraine invasion.
  • Nearly all of Kyrgyzstan's crypto activity is linked to Russia, which had minimal presence in the cryptocurrency sphere before the invasion.

🏦 JPMorgan Halts Gemini Onboarding After Winklevoss Criticism

  • Tyler Winklevoss accused JPMorgan Chase of stopping Gemini's onboarding process after he publicly criticized the bank's data access fees for fintech firms.
  • The conflict follows a history of strained relations, with JPMorgan previously asking Gemini to seek alternative banking partners due to profitability concerns.

⚖️ Japan's "Slow" Approval Culture Stifles Crypto Innovation

  • Japan's prescriptive regulatory approval process is the main barrier to crypto innovation, requiring a two-step approval process that can take six months or longer.
  • Compared to other Asian regions like Singapore and the UAE, Japan's regulatory process is seen as outdated, pushing many startups to seek opportunities overseas.

🏛️ El Salvador's Bitcoin Reserve Fails to Help Average Citizens

  • Under a recent agreement with the IMF, Bitcoin is no longer recognized as legal tender in El Salvador, with a notable decline in public education and state-led adoption initiatives.
  • While the government continues accumulating Bitcoin, this strategy doesn't directly improve conditions for everyday Salvadorans.

Technical Analysis
Bitcoin - Bitcoin shows strong development within a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. 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 115500 and resistance at points 120800. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the rising trend and could be an early signal of a coming trend break. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The currency is overall assessed as technically slightly positive for the short term.

Ethereum - Ethereum has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. 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. Positive volume balance strengthens the currency in the short term. The short term momentum of the currency is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Ethereum. 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 RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The currency is overall assessed as technically positive for the short term.