GENIUS Act July Signing, Bitcoin Whale Surge, Ripple AEON Integration
David Sacks announces GENIUS Act signing; Bitcoin whale wallets hit new high; Ripple and AEON integrate XRP in Asia; Bakkt raises $1B; major macroeconomic updates.
Key Crypto Market Developments
David Sacks Announces July Signing of GENIUS Act and Crypto Market Structure Bill
David Sacks announced that the GENIUS Act, introducing new stablecoin regulations, will be signed in July, alongside a separate bill on cryptocurrency market structure submitted to the Senate.
Bitcoin Whale and Shark Wallets Hit Record High
The number of Bitcoin wallets holding 10 or more BTC (approximately $1.07 million) reached a new high of 152,280 since March 12.
Ripple and AEON Integrate XRP and RLUSD in Southeast Asia
Ripple and AEON integrated XRP and RLUSD into the payment systems of 20 million retail outlets in Southeast Asia, including UNIQLO, McDonald’s, Pizza Hut, and Starbucks, with future expansion plans to Africa and Latin America through the Web3 platform AEON Pay.
Bakkt Holdings Files for $1 Billion Capital Raise
Bakkt Holdings filed with the SEC to raise $1 billion for corporate purposes and potential investments in Bitcoin and other cryptocurrencies.
Top 10 DeFi Projects by Development Activity
The top 10 DeFi projects based on development activity over the last 30 days include LINK, DEEP, DFI, SNX, BABY, LDO, LQTY, INJ, CBBTC, and FOX.
Grayscale Research Updates Top 20 Crypto Assets List
Grayscale Research updated its list of top 20 crypto assets for Q3, adding AVAX and MORPHO while removing LDO and OP. Assets with growth potential now include BTC, ETH, SOL, HYPE, SUI, LINK, AVAX, UNI, AAVE, TAO, ENA, VIRTUAL, IP, AERO, JTO, SYRUP, MORPHO, HNT, GRASS, and GEOD.
World Launches Priority Blockspace for Humans
World introduced “Priority Blockspace for Humans,” reserving blocks specifically for verified user transactions, providing prioritized access to services.
Glue Founder Accuses Across Protocol of DAO Manipulation
Glue founder accused the Across Protocol team of manipulating DAO voting using hidden wallets, illegally transferring $23 million from the treasury into a private entity.
Agora CEO Criticizes Anchorage Stablecoin Safety Report
Agora CEO Nick van Eck criticized Anchorage’s stablecoin safety report, claiming the low rating for AUSD was biased due to a rejected service product. AUSD uses State Street as custodian and VanEck as investment manager.
PANews’ X Account Hacked
The X account of PANews was compromised by hackers.
Solana Foundation Reports Potential Vulnerability in ZK ElGamal
Solana Foundation reported a potential vulnerability in the ZK ElGamal program, which could bypass verification of confidential tokens. The program has been disabled pending an audit expected to last several months.
DappRadar Reports 86% Increase in On-chain AI Agent Activity
DappRadar reported an 86% increase in on-chain activity by AI agents in 2025, reaching 4.5 million daily unique active wallets and attracting $1.39 billion in investments.
Macro Economic Developments
S&P 500 Reaches Second-Highest Closing Price in History
The S&P 500 reached its second-highest closing price in history.
Nasdaq Sets Record High Closing Price for Third Consecutive Day
Nasdaq achieved its highest closing price ever for the third consecutive day.
US Dollar Index Drops to Lowest Level Since March 2022
The US Dollar Index (DXY) fell to 97, marking the lowest level since March 2022.
Trump Tariff Delay Nearing Expiration
The delay of Trump’s tariffs expires in 13 days (July 9). Upon expiry, country-specific tariffs, including 50% tariffs on EU imports, 30% tariffs on Chinese goods, and basic 10% global tariffs, may return.
US Treasury Records Third Largest Deficit in History
The US Treasury reported a $316 billion deficit in May, the third-largest in history, with the annual budget gap reaching 7% of GDP.
Trump Announces US-China Trade Deal
Donald Trump announced the signing of a trade deal with China, referencing a framework agreement from June 23. It includes lifting export restrictions on rare-earth minerals but lacks specific tariff details.
EU Considers Lowering Tariffs for Quick Trade Deal with US
The EU is considering reducing tariffs on US imports and other concessions to expedite a trade agreement with Trump, including purchasing US LNG and collaborating on Chinese economic issues.
US Commerce Secretary Announces Plans for Trade Agreements
US Commerce Secretary Howard Lutnick announced White House plans to finalize trade agreements with a group of 10 major trading partners.
News
Bitcoin Approaches $110K, SEC Reviews Grayscale ETF, Ripple Fed Account
Bitcoin reaches $109.8K amid social media-driven FOMO; SEC reviews Grayscale ETF conversion; Ripple applies for Federal Reserve master account; Ethereum and Solana show bullish signals.
Figma IPO with Bitcoin Investments, Arizona Rejects Crypto Reserve, Dollar Index Drops
Public companies outpace ETFs in Bitcoin purchases; Figma files IPO holding BTC; Arizona governor vetoes crypto reserve bill; U.S. Dollar Index falls 10.8%.
Elon Musk Criticizes U.S. Debt Ceiling Increase, Ethereum Activity Peaks, U.S. Crypto ETFs and Regulations
Musk criticizes historic U.S. debt ceiling hike; Ethereum network hits record transaction levels; Bloomberg expects LTC and XRP ETF approvals; U.S. introduces new crypto tax initiatives.
GENIUS Act July Signing, Bitcoin Whale Surge, Ripple AEON Integration
David Sacks announces GENIUS Act signing; Bitcoin whale wallets hit new high; Ripple and AEON integrate XRP in Asia; Bakkt raises $1B; major macroeconomic updates.
Crypto Mortgage Adoption, Bitcoin Hits $108K, Tether AI Future
U.S. housing regulator integrates crypto for mortgages; Bitcoin surpasses $108K; Tether CEO forecasts widespread AI adoption of crypto; Trump’s World Liberty Financial launches token.
