Summary
gm, The SEC approved in-kind transactions for Bitcoin and Ethereum ETFs, enabling investors to directly exchange ETF shares for underlying crypto assets rather than cash. PayPal expanded its crypto presence by launching a payment tool supporting over 100 cryptocurrencies with competitive transaction fees of 0.99%, while corporate interest in crypto treasuries continued to surge, with Standard Chartered reporting that companies have acquired 1% of Ethereum's total supply in just two months. Meanwhile, BNB reached an all-time high near $860, driven by multiple Nasdaq-listed companies announcing substantial BNB treasury plans, including CEA Industries which surged 700% after revealing a $500 million BNB acquisition strategy, and Tron Inc. filing to raise up to $1 billion to boost its TRX holdings.

News Headlines
🔥 BNB Price Projected to Reach $2,000 by 'Cycle Top'

  • Market analysts predict BNB's price could hit $1,000 by the end of 2025 and potentially reach $2,000 at the cycle peak in early 2026. This optimism is based on a fractal indicator resembling the 2019-2020 trends and BNB's breakout from a multi-year ascending triangle.
  • BNB has demonstrated remarkable growth, rising over 30% in July to reach $861.20. The recent Maxwell upgrade improving network performance and increasing institutional interest, evidenced by significant purchases from firms, are expected to further propel BNB's price.

🤝 Cathie Wood's ARK Partners with SOL Strategies for Staking

  • ARK Invest has partnered with SOL Strategies, a Canada-based firm, to provide exclusive staking services for its Digital Assets Revolutions Fund, relocating its validator operations to SOL's infrastructure.
  • The collaboration reflects the rising interest in yield-generating crypto exposure among institutional investors as regulatory clarity improves in the U.S., with many firms seeking structured financial products for crypto investments.

🎮 Steam Game Loaded With Malware That Targets Crypto Wallets

  • A pre-release game titled "Chemia" on Steam was found to contain malware designed to steal cryptocurrency and personal data, according to cybersecurity firm Prodaft.
  • The game, developed by Aether Forge Studios but modified by the cybercriminal group EncryptHub, included three types of malware that target crypto wallets. This incident highlights the growing threat of cyberattacks in gaming platforms, with global predictions estimating cybercrimes could cause $10.5 trillion in damages by 2025.

🏀 NBA Top Shot NFTs Now Available from Vending Machines in Japan

  • NBA Top Shot collectibles are now available via physical vending machines in Japan through a collaboration with marketing firm 24karat, making NFTs more accessible to collectors without requiring crypto knowledge.
  • The vending machines, located in train stations and commercial areas, allow users to purchase packs of Top Shot NFTs for approximately $6.70 by scanning a QR code to create a Flow wallet and completing the purchase using mobile payment options.

💼 Bitcoin Miner MARA Boosts BTC Buying Power With Nearly $1 Billion Raise

  • Bitcoin miner MARA has closed a $950 million private offering to acquire more Bitcoin, exceeding the initial target of $850 million due to strong investor demand.
  • MARA is now the second-largest corporate holder of Bitcoin, with 50,000 BTC valued at $5.8 billion. The company adopts a HODL strategy, indicating it intends to retain its newly acquired coins rather than immediately selling them.

Market Metrics

Fundraising & VC
1. ETH Strategy (Undisclosed, $46.5M) - Ethereum's autonomous on-chain treasury protocol
2. Circle (Seed, $12M) - Hyperliquid-based earning application
3. D2X (Strategic, $5M) - EU-regulated crypto derivatives exchange

Regulatory
⚖️ Hong Kong Finalizes Stablecoin Regulatory Framework

  • The Hong Kong Monetary Authority has finalized its regulatory framework for stablecoin issuers, effective August 1, and launched a public registry for licensed issuers.
  • The guidelines prohibit interest payments on won-pegged stablecoins, require full reserve backing, and grant emergency powers to financial regulators, though no licenses have been issued yet.

🏛️ Anti-CBDC Bill Could Limit Fed's Power Over Digital Dollar

  • Rep. Tom Emmer's Anti-CBDC Surveillance State Act aims to significantly limit the Federal Reserve's capacity to issue a central bank digital currency.
  • The bill, introduced in March, would amend the Federal Reserve Act to prevent federal banks from issuing digital assets resembling a CBDC, with consideration expected after the Senate's August recess.

⚠️ DOJ Seeks Forfeiture of Bitcoin Tied to Ransomware Group

  • The U.S. Department of Justice is pursuing the forfeiture of $2.3 million in Bitcoin (20.3 BTC) associated with the Chaos ransomware group for alleged money laundering.
  • The funds were seized by the FBI from a member linked to the group after multiple attacks in Texas, with the Bitcoin now held in a government-controlled wallet.

🤐 Samourai Wallet Founders to Plead Guilty in Privacy Case

  • Samourai Wallet founders William Lonergan Hill and Keonne Rodriguez will change their not guilty pleas to guilty on charges of operating an unlicensed money transmitting business.
  • The case has drawn attention from privacy advocacy groups who argue the founders merely created software and didn't control how it was used for transactions.

⚡ SEC Delays Decision on Trump's Truth Social Bitcoin ETF

  • The SEC has postponed its decision on the proposed Truth Social Bitcoin ETF, backed by Trump Media and Technology Group, from August 4 to September 18.
  • The agency also delayed decisions on Grayscale's Solana Trust and Canary Capital's Litecoin ETF, with Commissioner Hester Peirce indicating approvals may be delayed due to ongoing litigation.

Technical Analysis
Bitcoin - Bitcoin 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. The currency is moving within a rectangle formation between support at 114579 and resistance at 119132. A decisive break through one of these levels indicates the new direction for the currency. The currency has support at points 110000 and resistance at points 120800. Volume has previously been low at price tops and high at price bottoms. This weakens the currency. The currency is overall assessed as technically neutral 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 2770 points. 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 currency is overall assessed as technically positive for the short term.