From historic highs to high-profile hacks, the crypto market packed a punch this week. Bitcoin shattered data above $123,000 as company treasuries rushed to build up extra, even at premium costs.
In the meantime, President Trump signed the primary federal stablecoin legislation, JPMorgan warmed to digital {dollars}, and Australia flagged crypto as a monetary crime precedence. However the week wasn’t with out turbulence—main exchanges like CoinDCX and BigONE reported multimillion-dollar breaches.
Additionally, Ripple’s Chris Larsen made eyebrow-raising XRP transfers. Learn on for a recap of this week’s most noteworthy crypto headlines.
CoinDCX faces $44 million safety compromise
- An Indian cryptocurrency trade, CoinDCX, suffered a considerable breach Saturday morning.
- CEO Sumit Gupta confirmed the $44 million loss resulted from a “refined server breach.”
- Blockchain investigator ZachXBT recognized the incident roughly 17 hours after it commenced.
Trump enacts main stablecoin laws
- President Donald Trump signed the GENIUS Act into legislation Friday afternoon.
- This marks it as the primary complete federal regulatory framework for stablecoins in United States historical past.
Ripple govt transfers substantial XRP holdings
- Co-founder and Government Chairman Chris Larsen transferred $26 million value of XRP (XRP) to Coinbase by 4 separate transactions, every involving 2 million tokens, valued at over $6.5 million per batch.
- Extra Thursday transactions noticed Larsen switch XRP batches exceeding $40 million to unidentified pockets addresses, in keeping with blockchain monitoring knowledge.
Company Bitcoin accumulation reaches unprecedented ranges
- Treasury companies collectively acquired 244,991 Bitcoin (BTC) by June’s conclusion.
- The variety of companies sustaining Bitcoin reserves practically doubled from 70 entities originally of the 12 months to 134 corporations by mid-year, in keeping with K33’s evaluation.
Australia designates cryptocurrency as precedence monetary crime concern
- The nation’s monetary intelligence company identified crypto as a major risk Wednesday.
- These new measures goal cryptocurrency-related monetary crimes by expanded monitoring and compliance necessities for digital asset service suppliers.
Coinbase launches complete Base cellular utility
- The trade debuted its rebranded cellular platform throughout a packed Los Angeles occasion Wednesday.
- This announcement has transitioned the earlier Coinbase Pockets into an expanded “all the things app” for blockchain interactions.
- Base integrates a number of functionalities together with creation instruments, incomes mechanisms, messaging capabilities, gaming options, and synthetic intelligence interactions inside a unified interface.
Roger Ver challenges Spanish extradition ruling
- The cryptocurrency pioneer, widely known as “Bitcoin Jesus,” filed swimsuit with the European Court docket of Human Rights in opposition to Spain’s extradition resolution.
- Ver’s authorized motion claims Spanish authorities violated his protected rights when ruling he ought to face U.S. tax evasion costs, in keeping with Bloomberg Regulation reporting.
BigONE suffers safety breech
- The Seychelles-based buying and selling platform lost a considerable quantity of funds following a focused assault on its sizzling pockets infrastructure.
- Platform officers detected irregular exercise throughout early July, spanning 16 hours, and subsequently confirmed that the breach resulted from third-party infiltration strategies.
JPMorgan chief to embrace stablecoins?
- JPMorgan CEO Jamie Dimon, a longtime crypto skeptic, indicated throughout the latest banking name that the banking big plans to develop participation in stablecoin markets.
Technique accumulates extra Bitcoin
- The treasury firm purchased 4,225 Bitcoin for $472 million between July 7 and 13, paying a median value of $111,827 per coin.
- This acquisition brings Technique’s complete holdings to 601,550 Bitcoin.
Bitcoin establishes new value document above $123,000
- BTC surpassed $123,000 on July 14, setting one other historic milestone as regulatory optimism builds amongst U.S. lawmakers.
