Good Morning,

Here's a quick preview of today’s content: A pastor is charged in multimillion dollar crypto scam, South Korean regulators issue warnings to asset managers with crypto heavy holdings, public companies now hold billions worth of ETH on their balance sheets, another Bitcoin whale makes a huge move, Pump.fun named in RICO gambling case, and so much more

Happy Almost Friday - Let’s dive in.

Market Snapshot

• Bitcoin and Ethereum both slipped more than -1%, amid broader macro uncertainty following new trade announcements by U.S. President Donald Trump

• At one point yesterday BNB reached a new all-time high above $800, surpassing Solana as the 3rd crypto by market cap, while Solana and ADA declined around -7%

• The U.S. Senate introduced the Responsible Financial Innovation Act to designate the SEC as the main regulator for digital assets, building on recent stablecoin legislation and enhancing regulatory clarity

• Overall market cap remained near $4T despite a short-term dip; trading volumes stayed strong as the market consolidates gains and institutional momentum continues

Market Predictions

• Bettors on Kalshi are predicting on how many trade deal the USA will make before August 1st, 2025

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

• Coinbase partners with PNC bank to provide crypto access to bank’s customers (TB)

• Another massive OG Bitcoin whale shifts $4.7B of BTC to new wallet (CT)

• Block joins the S&P 500 the same day as it’s payment software Square started rolling out a Bitcoin payment service (DE)

• Eric Trump takes victory lap five months after calling ETH buy at local bottom - see his prior predictions here

• UK pastor and wife indicted in $3.4M crypto scam involving church followers (CT)

• Pump.fun named in amended RICO suit alleging $5.5B meme coin gambling scheme (DC)

• Bitcoin has surpassed Visa in total transaction volume (TD)

• US appeals court overturns Yuga Labs’ $9M win against Ryder Ripps (CT)

• Tesla’s bitcoin holdings now worth $1.2B after 30% BTC rally in Q2 (CD)

• Kraken backs Windtree’s $140M BNB treasury initiative for biotech-fintech crossover (CD)

• MoonPay expands Solana staking options to offer on-chain yield services (CT)

• Goldman Sachs and BNY plan tokenized money market fund targeting TradFi investors (TD)

• Bitfarms stock jumps 8% after announcing share buyback program (CD)

• Matador secures $100M to accelerate corporate bitcoin accumulation plans (BM)

• WisdomTree expands USDW stablecoin offering backed by tokenized assets (CT)

• Orphanage in Uganda celebrates Bitcoin Pizza Day with road trip funded by BTC (BM)

• ByteFederal enables bitcoin real estate transactions across Florida market (BM)

• Japan and US reach auto trade deal affecting electric vehicle tariffs and exports (BW)

• Bitfarms announces stock buyback citing market undervaluation concerns (CT)

• Public companies now hold $3.2B worth of ETH on balance sheets (CS)

• Ark’s Cathie Wood offloads Coinbase and Roblox shares to fund ETH treasury investment (CT)

• Joe McCann shuts down Asymmetric Liquid fund after 78% loss and Solana controversy (CD)

• Bitcoin ETFs see $131M outflow, ending 12-day inflow streak as BTC stalls (CD)

• FTX to start next creditor payout on Sep. 30 with $1.9B granted by court (TB)

Venture Capital

• MEI Pharma, a publicly traded pharma company, closed a $100M private placement on Wednesday to refashion itself into a litecoin treasury firm (DE)

M&A Announcements

• H100 Group adds 117.93 Bitcoin, boosting total BTC treasury past 2,300 BTC (BM)

• DigitalX has ramped up its holdings with the acquisition of 74.7 BTC, worth approximately $8.8M (DC)

• Genius Group doubles Bitcoin holdings to 200 BTC citing support for the GENIUS Act (CT)

Launches

• Pop artist Takashi Murakami to launch collectible trading cards onchain via Base app (TB)

• 21Shares files with SEC to launch spot Ondo crypto ETF (TD)

• PancakeSwap Infinity launches on Base as network hits record TVL milestone (CT)

• RGB v0.11.1 launches on Bitcoin mainnet enabling creation of native digital assets (BM)

Regulation

• South Korean authorities tell asset managers to limit exposure to Coinbase and Strategy (TB)

• Citadel warns SEC against rushing tokenized securities rollout, urges caution (CD)

Cybersecurity

• Scammers pounce as crypto markets touch new all-time highs (CT)

Extra Reads

• Helium sees resurgence as crypto utility use cases gain traction across wireless networks - How Helium demonstrates crypto’s utility
  

• Game developers say “stop killing games” as crypto backlash stifles Web3 gaming innovation - The case for how crypto can Stop Killing Games

Chart of the Day

In a significant market development, BNB has shattered its previous all-time high of $794, decisively breaking the key psychological barrier of $800 to establish a new peak. This pushed the token’s total market capitalization to $112B, making it the world’s third-largest cryptocurrency. (FB)

Meme Dump

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