Crypto & Web3

FOMC minutes, SpaceX joins Nasdaq 100: Crypto Week Ahead

Your look at what's coming in the week starting July 6.

Ethereum Plans Most Sweeping Protocol Overhaul Since 2022 Merge

Ethereum co-founder Vitalik Buterin has announced what he describes as the platform's biggest technical rebuild since the Merge. A revised roadmap outlines a multi-year overhaul that would replace nearly every major component of the Ethereum protocol. Quantum resistance and user privacy have been elevated as key priorities in the updated plan. The announcement comes as ether's price has climbed more than 12% over the past seven days.

Bitcoin Briefly Hits $63,882 Before Pulling Back to $62,900

Bitcoin surged to a high of $63,882 overnight before quickly reversing course, according to CoinDesk market data. The cryptocurrency's weekly opening saw a brief rally that failed to hold as selling pressure mounted. Prices retreated to approximately $62,900 following the short-lived peak. The move marks a volatile start to the trading week for the world's largest cryptocurrency.

Veteran Trader Peter Brandt Eyes Gold Over Bitcoin Amid Shifting Outlook

Veteran trader Peter Brandt has revealed he is considering selling a portion of his bitcoin holdings in favor of gold. Brandt expressed his belief that gold is poised to significantly outperform bitcoin in the near term. The comments came from the longtime market trader known for his decades of experience in commodity and financial markets. Brandt's remarks signal a notable shift in sentiment from one of the more recognized voices in the trading community.

XRP climbs 3% after breaking $1.14 resistance, now tests level as support

XRP gained approximately 3% amid heavy trading volume, pushing the cryptocurrency through a key resistance level at $1.14. However, selling pressure emerged near $1.16, halting the upward momentum. The move has shifted market focus to whether the previously contested $1.14 level can now hold as a support zone. Traders are closely watching price action at this level to gauge the strength of the recent breakout.

Ether Outperforms as Bitcoin Holds Above $63,000 Amid Cautious Market Mood

Cryptocurrency markets maintained key price levels at the start of the second half of the year, with bitcoin holding steady above $63,000. Ether led gains among major digital assets, outperforming the broader crypto market. Sentiment remained cautious as a strengthening US dollar weighed on risk appetite. A slowdown in the rebound of AI and chip stocks further dampened investor enthusiasm across markets.

Crypto Clarity Legislation Faces Tight Timeline Before Midterm Elections

Efforts to pass crypto clarity legislation in the United States are facing mounting time pressure as Congress's summer break approaches. All parties involved remain optimistic that the bill can be passed before the midterm elections. However, the shrinking legislative calendar is raising concerns about whether there is enough time to get the legislation through. The situation reflects the broader challenge of advancing complex financial regulation within a constrained congressional schedule.

US wallets led Polymarket with $571M in political bets despite legal ban

American-linked crypto wallets traded $571 million worth of political prediction contracts on Polymarket over the past year, making the United States the platform's largest market by volume. This activity occurred despite Polymarket being legally prohibited from serving U.S. users. The trades were concentrated in foreign-conflict markets, which are not available on domestic U.S. prediction platforms. The findings highlight a significant enforcement gap between Polymarket's user restrictions and actual trading behavior.

Banks shift focus from stablecoin viability to implementation strategies

Major financial institutions are no longer debating whether stablecoins have a place in the financial system, but are now actively exploring how to integrate them. Banks are positioning themselves to serve as trusted entry points for stablecoin transactions and services. This strategic shift comes as digital asset transaction volumes are expected to grow significantly by 2030. The move signals a broader acceptance of stablecoins as a legitimate component of mainstream finance.

Collateral Quality, Not Yield, Will Determine Stablecoin Market Winners

Artem Tolkachev, chief RWA officer at Falcon Finance, argues that the stablecoin industry is focusing on the wrong metric as yield-bearing stablecoins approach a $50 billion market capitalization. Tolkachev contends that collateral quality, rather than yield generation, should be the primary factor determining which stablecoins succeed. The rapid growth of yield-bearing stablecoins has prompted debate about the sustainability and safety of current market strategies. His argument suggests that an industry-wide reassessment of priorities may be necessary to ensure long-term stability in the stablecoin sector.

Kalshi and prediction markets face mixed legal battles with U.S. state regulators

Kalshi and the broader prediction market industry are currently navigating a series of legal disputes with state gaming regulators across the United States. Several of these regulatory battles are not going in the industry's favor at this time. However, the sector is not without allies, as some government figures have emerged as potential protectors of the industry. The outcome of these fights could have significant implications for the future of prediction markets operating within the U.S.

Barstool's Portnoy vows to hold Bitcoin to zero after buying near $100K peak

Barstool Sports founder Dave Portnoy has declared he will hold his Bitcoin investment even if its value drops to zero. Portnoy made the statement after purchasing Bitcoin at a price close to $100,000. The announcement drew attention given Portnoy's track record of poorly timed entries into the cryptocurrency market. His comments reflect a defiant stance despite the significant downside risk associated with his position.

NYLIM Executive: Blockchain Could Enable Personalized Portfolio Construction

Thomas Sy, head of multi-asset solutions at New York Life Investment Management (NYLIM), believes tokenization is poised to transform personalized portfolio management. The executive, who oversees operations at the $800 billion asset manager, argues that blockchain technology can enable complex portfolio construction currently not achievable through traditional finance. Sy's comments highlight tokenization as an emerging use case beyond its existing applications in asset management. The remarks reflect growing institutional interest in leveraging blockchain to modernize and customize investment strategies.

Bitcoin Surpasses $63,000, Recovering June Losses in Holiday Trading

Bitcoin climbed above $63,000, reaching its highest level in over a month. The rally came during reduced trading activity on July 4, a U.S. public holiday. The move effectively reversed losses that the cryptocurrency had accumulated toward the end of June. XRP led gains among major cryptocurrencies, rising approximately 5% within a 24-hour period.

Ethical Hackers Found Aptos Blockchain Flaw That Risked $70B in Crypto

Security researchers discovered a critical vulnerability in the Aptos blockchain that has since been patched. The flaw allowed attackers to break a core security guarantee with nearly a 90% success rate. Carrying out the attack required only a modest $3,000 server and cost just hundreds of dollars to execute. The vulnerability posed a potential risk to approximately $70 billion worth of cryptocurrency stored on the network. The responsible disclosure and subsequent patch prevented any known exploitation of the flaw.

Experts divided on proposal to freeze Satoshi's 1.1M BTC amid quantum computing fears

Binance founder Changpeng Zhao has proposed freezing the approximately 1.1 million bitcoin believed to be held by Bitcoin creator Satoshi Nakamoto. The suggestion comes amid growing concerns that advances in quantum computing could eventually allow bad actors to crack early Bitcoin wallet encryption. Zhao argues that preemptively locking these coins would protect the network from a potential quantum-enabled theft. However, the proposal has sparked disagreement within the Bitcoin community, with experts split on whether such an intervention is necessary or appropriate.

Bitcoin's Lag Behind Record Stocks Seen as Temporary, Analysts Say

Bitcoin has been underperforming record-high stock markets, but analysts believe this divergence is unlikely to persist. Researchers from Schwab and Hashdex suggest that artificial intelligence investments have drawn capital away from digital assets, contributing to bitcoin's relative weakness. Despite this, bitcoin is reportedly following a recognizable recovery pattern that typically emerges after its halving events. Analysts therefore expect bitcoin to realign with broader market performance as the post-halving cycle progresses.

Trump Crypto Buyers Face $3.8B in Losses as TRUMP Token Plunges 96%

Buyers of Donald Trump's TRUMP cryptocurrency token are collectively down $3.8 billion, according to blockchain data. The token has fallen 96% from its all-time high, wiping out significant value for retail investors. Additionally, 85% of secondary market wallets holding World Liberty Financial's WLFI token are currently at a loss. The losses reflect a broader downturn across the cryptocurrency sector. Both tokens were closely associated with Trump's brand and political identity, drawing widespread retail participation at launch.

Europe led on crypto regulation. Now implementation must match ambition

EU Regulators Move to Restrict Retail Access to Prediction Markets

European Union regulators are taking steps to limit retail investor participation in the rapidly growing prediction markets sector, which has reached multibillion-dollar valuations. The move reflects concerns about the risks these markets pose to everyday investors. Regulators stressed that a financial product's actual function determines its regulatory classification, regardless of how it is commercially labeled or named. This approach signals that prediction markets operating as derivatives will be treated as such under EU rules. The decision could significantly reshape how these platforms operate and who can access them within the region.