Stablecoins
Legal
DOJ and CFTC end probes into Polymarket, clearing path for potential registration
Shayne Coplan said the platform “cooperated and engaged” with authorities and “has been cleared of any wrongdoing,” adding that “justice prevailed.”
Memecoins
PUMP debuts at $5.6B FDV, logs $34M volume within first 3 hours
The token slid 7.3% in the same period, briefly touching the $5 billion in fully diluted valuation.
Analysis
Retail accumulation absorbs fresh supply, propels Bitcoin to record highs
Despite heavy institutional buying after the $110,000 was breached, retail accumulation laid the groundwork by draining exchange balances for months.
Regulation
OCC, Fed, FDIC publish joint guidance for banks offering crypto custody
Regulators instructed boards and executives to view crypto custody as a service that relies on exclusive control of private keys and other sensitive data.
Analysis
Daily Bitcoin Ordinals sales volume soar to strongest level since December
Despite the volume increase, Bitcoin Ordinals are unlikely to close July above the $100 million threshold in with the rhythm displayed currently.
ETF
Ethereum ETFs surpass $5 billion in net flows, BlackRock’s ETHA record 6th highest inflow week
Ethereum ETFs took 12 trading days to capture over $1 billion in inflows, beating the previous billion mark by three trading sessions.
NFTs
NFT-related tokens soar in Q2, with PENGU leading despite decline in trading volumes
PENGU's price is up 3.8x over the second quarter after hitting a yearly low on April 8, contrasting the 45% drop in NFT trading volume.
ETF
BlackRock’s IBIT vaults over $80B in assets, breaks ETF speed record
The record comes amid US-traded spot Bitcoin ETFs touching $1.2 billion in inflows on July 10.
Analysis
Altcoins roar as Bitcoin hits new all-time highs, Cardano and XRP surge over 10%
Along with major cap altcoins, tokens related to NFT applications and artificial intelligence also posted significant gains in the past 24 hours.
Stablecoins
Ethena rockets to $290 million in revenue, seeks SEC clarity on USDe
The protocol was the second-fastest to reach $100 million in revenue, but its main product is still in a regulatory gray area in the US.
Mining
Shareholders push back against high pay for public Bitcoin miner execs after record equity grants
VanEck reviewed filings from eight listed miners and found average named-executive-officer (NEO) compensation climbed from $6.6 million in 2023 to $14.4 million in draft 2024 proxies.
Analysis
Bitcoin climbs to $117k as volatility spikes across markets after compression
Long-term holders continue to add to balances, with supply growth outpacing miner issuance, reflecting a preference to hold coins until a clear price move occurs.
