Good Morning,

Here's a quick preview of today’s content: Trump want’s crypto in your 401ks, crypto legislation gets a string of its biggest wins yet, Russia flirts a digital ruble, feds get caught stealing Bitcoin, Ethereum and XRY keep outperforming Bitcoin, and so much more …

What an incredible week for crypto - Are you feeling bullish yet anon?

HAPPY FRIDAY - Let’s dive in. 🚀

Market Snapshot

• Bitcoin traded between $119,000 - $120,400, maintaining bullish momentum with continued volatility

• ETH climbed to $3,350–$3,470, showing strong gains and significantly increased trading volume after breaking above $2,900

  • Altcoins and select tokens rallied, with FLOKI (+32%), CRV (+29%), and BOME (+24%) leading gains, XRP reached a new all-time high of $3.45, Arbitrum rose after integration with PayPal’s PYUSD

• The U.S. House of Representatives passed three key cryptocurrency bills (more below)

Market Predictions

• Bettors on Kalshi are predicting if how high will Bitcoin go this year - trade your predictions on a range of events, only on Kalshi

• Sign up with code LIT and get a $20 bonus when you trade $100

Headline Roundup
^{_{The major headlines driving crypto markets}}

• US House passes three key crypto bills ahead of August recess - the full breakdown yesterday’s major legislation wins here

• Trump considers executive order to allow crypto, gold, and private equity in 401(k) plans (TB)

• Ripple co-founder Chris Larsen moves millions more XRP to Coinbase amid ongoing transfers (DE)

• XRP price set a new all-time high on Thursday, finally topping the seven-year old record (DC)

• Nasdaq files with SEC to add staking to BlackRock’s Ethereum ETF (TB)

• Bitcoin Standard Treasury to go public with 30,021 BTC via SPAC merger (BM)

• Ethereum spot ETFs set record with nearly $720M in inflows (TD)

• Thiel-backed Bitmine crosses $1B in ETH holdings as it ramps up Ethereum accumulation strategy (DE)

• Volcon shares soar 135% after $500M bitcoin treasury plan announcement (DE)

• Tether mints $2B in USDT through back-to-back Ethereum transactions (TD)

• France submits bill to pilot Bitcoin mining using excess energy (BM)

• Bitcoin and altcoins dominate H1 2025 treasuries as corporate adoption spikes (BW)

• Pump token struggles despite $20M buyback effort (TD)

• Joe Lubin-backed SharpLink Gaming plans $5B stock sale to fund ETH purchases (TB)

• Bitmine hits $1B in Ethereum holdings as institutional ETH plays accelerate (BA)

• Tech firm GameSquare closes $70M offering to expand ETH treasury and gaming footprint (TB)

Venture Capital

• Spiko raises $22M in Series A funding led by Index Ventures to scale crypto wallet platform for mobile-first markets (TB)

• Function, a startup allowing Bitcoin to be used as a productive composable financial asset, raised a $10M seed round led by Galaxy Digital, Antalpha, and Mantle (PRN)

• XMTP developer Ephemera has raised $20M Series B at a $300M equity and $750M network valuation led by a16z (TB)

Launches

• World Liberty-backed Ondo Finance launches tokenized treasury fund on Sei blockchain (TB)

• Canary Capital files ETF staked in Injective, marking latest altchain move (BW)

• Russia’s Sberbank to launch crypto custody services including Bitcoin (BM)

Regulation

• Russia’s 2026 digital ruble rollout met with public skepticism and limited trust (TB)

• US House approves Clarity Act aimed at simplifying crypto regulations (BW)

Cybersecurity

• Former UK crime agency officer jailed for stealing 50 bitcoin from Silk Road 2 investigation (CT)

• Crypto theft is booming as criminals increasingly turn to physical attacks (CNBC)

• Former National Crime Agency officer sentenced for stealing seized Bitcoin (TB)

Extra Reads

• The first major crypto regulatory intiative in the U.S. is about to become law after the House passed the stablecoin bill known as the GENIUS Act - A full breakdown of what this means for the crypto space

Chart of the Day

XRP was recently changing hands around $3.41, rising more than +36% over the past week, according to crypto data provider CoinGecko. The previous record was $3.40, set all the way back in January 2018.

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