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The launch this week of Ani—the flirtatious, blonde‑pigtailed “Companion” that now greets paying users of xAI’s Grok chatbot—has ignited a fresh round of Musk‑themed crypto sleuthing.

Artist NARDO (@PepenardoStudio) was the first to point out that Ani’s gothic‑lolita corset, thigh‑high fishnets and dual ponytails are almost a line‑for‑line reprise of “Bitcoin Girl,” the anime heroine immortalised on the 2017 Counterparty trading card CCGBTCONE. “No one else seeing this connection? @grok’s ai companion is the same character as CCGBTCONE’s Bitcoin girl,” he wrote on X, tagging Elon Musk for good measure.

Bitcoin Magazine CEO David Bailey joined the thread with trademark humor: “Elon, she’ll only love you if you own 1 % of all the Bitcoin.” Musk—who once revelled in the nickname “Dogefather”—has so far left the speculation unanswered.

Grok Companion Revives 2018 Bitcoin Meme

To Counterparty collectors, the model’s silhouette looks anything but accidental. CCGBTCONE—minted on 26 July 2017 as part of the Oasis Mining set—is one of just 300 cards and is marketed today as “one of the first Waifu NFTs” on Bitcoin. The project website devotes an entire panel to Musk’s past flirtations: the card first appeared in his feed in October 2018, resurfaced in a May 2020 spar with the @Bitcoin account and, most memorably, became his profile picture (complete with laser eyes) on 20 February 2021 for one day.

Musk’s first documented use of the character dates to 22 October 2018, when he tweeted an image of the girl in a BTC‑emblazoned dress alongside the caption “Wanna buy some Bitcoin?” Within minutes the post was viral; within hours Twitter locked Musk’s account on suspicion it had been hacked. “Twitter thought I got hacked & locked my account haha,” he complained after regaining access. Although the tweet landed ten months after BTC’s December 2017 all‑time‑high near $20 000, the anime cameo became lore in crypto culture and cemented Musk’s reputation for price‑moving memes.

Musk’s courtship with BTC escalated from memes to balance‑sheet dollars in February 2021, when Tesla disclosed a $1.5 billion purchase of BTC and said it would accept the coin for vehicle payments. The love affair cooled just 49 days later: Musk halted BTC payments over the network’s fossil‑fuel mix, sending the market tumbling more than 10 %. In July 2022 Tesla liquidated roughly 75 % of its holdings, adding $936 million. The manufacturer still holds an estimated 10,725 BTC.

If Ani hints at a retro flirtation, Musk’s newest venture makes his stance explicit. On 7 July the billionaire confirmed that his freshly announced “America Party” will embrace Bitcoin because “fiat is hopeless.” The comment aligns with continued treasury exposure at Tesla and SpaceX and underscores how Musk—despite tactical retreats—keeps BTC close to his personal brand.

Is Ani a clandestine shout‑out to CCGBTCONE or just another layer of Muskian irony? Musk’s AI Grok declines any connection: “There’s no definitive evidence to confirm that Grok’s AI companion, specifically the character Ani, is the same as CCGBTCONE’s Bitcoin Girl. […] Grok’s Ani is described as a goth-style anime girl with blonde pigtails, wearing a black corset, short dress, and thigh-high fishnets, resembling Misa Amane from *Death Note*.”

What is clear is the pattern: an anime avatar surfaces in Musk’s orbit, BTC chatter spikes and the community parses every pixel for clues. After seven years, the dialogue between Musk and Bitcoin has evolved from casual meme posts to treasury strategy and now to his upcoming party embracing it.

At press time, BTC traded at $117,938.

Senator Cynthia Lummis sounded the alarm this week after a Freedom of Information Act response showed the US Marshals Service holding just 28,988 BTC. She warned that offloading more than 80% of the government’s Bitcoin stash would be a “strategic blunder.”

Based on reports, that figure sparked concerns that the US had sold on a massive scale, dropping from about 198,012 BTC earlier in the year to under 30,000 BTC overnight.

Confusion Over Bitcoin Custody

According to the FOIA response, the USMS oversees seized and forfeited cryptocurrencies, including Bitcoin. The number it reported—about 29,000 BTC—reflects only the coins formally turned over to that agency for auction.

I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves—leaving just ~29,000 coins.

If true, this is a total strategic blunder and sets the United States back years in the bitcoin race. https://t.co/ciYf1uhy0x

— Senator Cynthia Lummis (@SenLummis) July 16, 2025

Other branches of law enforcement still have large quantities of Bitcoin in “seized” status, pending judicial decisions. Those coins aren’t part of the USMS tally.

Estimates from Arkham Intelligence and public wallet trackers show the federal government still controls roughly 198,012 BTC, worth about $23.50 billion at current prices. No on‑chain evidence suggests the US sold its reserve. Instead, the coins are held in various wallets across multiple agencies.

On‑Chain Data Paints A Different Picture

On‑chain records show the total federal Bitcoin holding has scarcely moved this year. The initial 198,012 BTC figure came from criminal and civil forfeitures. When seizures become forfeitures, the assets shift into USMS custody.

Until then, they remain off‑books for that agency. That split explains why one report cited 29,000 BTC while another pegs total holdings at nearly 200,000 BTC.

US President Donald Trump signed an executive order earlier this year directing that forfeited Bitcoin be held in a strategic reserve. He also asked the Commerce and Treasury departments to find ways to add to the stash without costing taxpayers extra dollars.

Expanded Crypto Portfolio

Beyond Bitcoin, the government holds other digital assets as part of its cryptocurrency portfolio. It has 347 million USDT stablecoins on hand. There are 59,951 ETH, valued at about $202  million.

Alright my guys. Since we now all have our panties in a jumble over the US Government „selling their bitcoin“, Id like to alert you to the fact that there is a difference between *seized assets* and *forfeited assets*.

The USMS is mainly in charge of *forfeited assets*, meaning…

— L0la L33tz (@L0laL33tz) July 16, 2025

The government also keeps 750 wBTC, worth nearly $89 million, and 40,293 BNB, which total around $29 million. Those figures push the overall crypto portfolio to about $24.25 billion in market value.

A journalist who goes by the name “Lola L33tz” filed the FOIA request. She stressed that seeing 29,000 BTC in the USMS report doesn’t mean any coins were sold.

She clarified that seized assets still held by the FBI or other agencies won’t show up in USMS custody until after the courts forfeit them.

Featured image from Pixabay, chart from TradingView

Just like Bitcoin (BTC) before its rally, the price of Ethereum (ETH) may be on the verge of a significant breakout, as a key technical signal, known as the Raging Bull indicator, has just flipped in its favour. This same indicator previously predicted Bitcoin’s explosive surge to new all-time highs, and its reappearance for Ethereum is fueling fresh optimism.

Ethereum Reactivates Rare Bullish Indicator

On July 16, crypto analyst Tony Severino announced in a post on X social media that Ethereum has just flashed the critical Raging Bull indicator—a tool previously credited for accurately forecasting Bitcoin’s parabolic rally. This development, highlighted on the monthly chart, marks the potentially strongest confirmation of bullish momentum for ETH since its last major surge. 

The analyst’s chart shows Ethereum closing the most recent monthly candle at $3,177, posting a 27.81% gain. This marks the first time the Raging Bull indicator has reappeared after months of absence since ETH bottomed out during the broader market correction in late 2022 and early 2023. The indicator, visible through yellow-highlighted candles, historically appeared during periods of strong upward trend formation on high time frames.  

The last time Ethereum printed a similar pattern was during its famous 2020 breakout, which ultimately led to an explosive surge toward its ATH above $4,800. That run coincided with a sustained sequence of yellow candles backed by rising momentum. Based on this trend, the reappearance of the Raging Bull indicator suggests that Ethereum may be recovering from its 2022-2023 lows, highlighting the potential start of a renewed bullish phase. 

Although Severino has not provided a specific price target or projection in his analysis report, the emergence of the key bullish signal on the high-timeframe chart potentially positions Ethereum in a bullish setup similar to the one Bitcoin was in when the same indicator flashed.  

Bitcoin Price Action After The Raging Bull Flashed 

According to a previous post, Severino revealed that Bitcoin’s Raging Bull indicator had reappeared earlier in May 2025, signaling for the first time since its last confirmed signal at the end of 2024. This technical development was marked on the weekly chart after a decisive candle close around the $97,452 level, marking a 3.91% gain.

The Raging Bull indicator first appeared during Bitcoin’s breakout in late 2023, with the momentum extending through the first half of 2024. After temporarily going dormant, the chart indicator flipped back on again around November 2024, preceding a major price rally. Its recent 2025 reappearance follows a recovery from local lows, forerunning an explosive surge in the BTC price. 

Given its consistent activation during periods of uptrends, the Raging Bull signal has become a key indicator for a potential price expansion. Despite its claimed accuracy, Severino acknowledges that, like all trading systems, it is not perfect and can sometimes generate false signals.

Data shows the US Ethereum spot ETFs have just seen their biggest day of inflows, driven largely by demand on BlackRock and Fidelity.

Ethereum Spot ETFs Have Seen A Sharp Uptick In Demand

According to data from Farside Investors, July 16th was a big day for the US Ethereum spot ETFs, with total inflows crossing the $726 million mark, a new all-time high (ATH). The spot exchange-traded funds (ETFs) refer to investment vehicles that allow investors to gain exposure to an asset without having to directly own it. In the case of cryptocurrencies, this means that ETF holders don’t have to manage digital asset wallets or navigate exchanges. For traditional investors, this fact can make spot ETFs a convenient way to explore the market.

Ethereum spot ETFs gained approval in the US nearly one year ago. Since then, demand has varied, but the asset has lately been on a positive run of inflows, with the most recent numbers showing momentum is only accelerating.

Below is a table that shows how the netflow related to the various Ethereum spot ETFs has looked during the last couple of weeks.

As is visible, notable daily inflows of around $200 million or more were already happening into the US Ethereum spot ETFs during the past week, indicating that demand from institutional entities was solid, but with the latest record-breaking day, things have clearly kicked into an even higher gear.

BlackRock’s ETHA saw the largest share of July 16th inflows at almost $500 million. Fidelity’s FETH was a distant second, purchasing about $133 million in the cryptocurrency on behalf of its users.Capital has poured into the spot ETFs as Ethereum has seen a breakout above the $3,000 level, which has so far brought it to $3,400 for the first time since January.

Following this rally, institutional investors aren’t the only ones paying attention to ETH, as data from the analytics firm Santiment shows a spike in retail interest.

In the chart, Santiment has attached the data of the Social Dominance, an indicator that tells us about the discussion share that Ethereum occupies on the major social media platforms relative to other cryptocurrencies.

Since retail investors far outweigh the larger holders in terms of numbers, this metric ends up reflecting the behavior of the small hands. From the graph, it’s apparent that the ETH Social Dominance has seen a huge spike alongside the price surge, with 13.4% of all digital asset discussions on social media now involving the coin.

Clearly, retail is taking note of the asset now, but historically, overhype among the crowd is something that has tended not to end well for cryptocurrencies, so this trend could be one to keep an eye on.

ETH Price

At the time of writing, Ethereum is trading around $3,400, up more than 23% over the last week.

Bitcoin is trading just under the $120,000 level after reaching a new all-time high of $123,200 on Monday. The slight pullback is viewed by many investors as healthy consolidation above key demand zones, rather than a signal of weakness. Bullish momentum remains intact, with strong technical structure supporting expectations of a continued rally in the near term.

On-chain data from CryptoQuant adds confidence to the bullish outlook. As of July 17, 2025, the Short-Term Holder Net Unrealized Profit/Loss (STH NUPL) metric sits at 13%, down slightly from 16% when Bitcoin last peaked. This indicates that the majority of short-term holders are sitting on moderate profits, but not at extreme levels that typically signal speculative euphoria or imminent market overheating.

The combination of stable price structure and healthy on-chain behavior points to a market still in the process of building higher, rather than topping out. With Ethereum and altcoins also gaining strength and broader sentiment turning positive, Bitcoin appears well-positioned for its next major move.

Bitcoin Data Signals Room For Further Upside

According to top analyst Axel Adler, Bitcoin still has significant room to run before reaching a level of speculative overheating. In previous macro cycles, Adler notes that the Short-Term Holder Net Unrealized Profit/Loss (STH NUPL) metric reaching 25% has consistently marked the peak of euphoria among short-term holders. At that point, many investors began massively taking profits, often triggering a loss of momentum or a broader correction across the market.

As of July 17, 2025, STH NUPL stands at 13%, indicating that unrealized profits among short-term holders remain moderate. Based on current dynamics, Adler estimates that for this cohort to reach a 25% unrealized profit level, Bitcoin would need to break above $137,000. That price level now represents a potential trigger point for mass selling—a psychological and on-chain threshold that could lead to increased volatility or a cycle pause.

Until then, the data suggests there is room for continued bullish price action without fear of immediate profit-taking pressure. This comes at a crucial time, as the US Congress continues to deliberate on three major cryptocurrency bills during what has been a tense and uncertain “Crypto Week.” After rejecting the proposals over the past two days, the next sessions may either ease regulatory uncertainty or prolong it.

Bitcoin Holds Key Support Amid Rising Volume Surge

The 12-hour chart shows Bitcoin consolidating just below $120,000 after recently setting a new all-time high at $123,200. Despite the brief retracement, BTC remains in a strong bullish structure, trading well above all key moving averages: the 50 SMA at $110,602, the 100 SMA at $108,105, and the 200 SMA at $102,178. These levels now act as dynamic support zones, underlining the strength of the ongoing trend.

Notably, volume has spiked significantly over the past few sessions, with back-to-back high-volume candles accompanying both the move to new highs and the subsequent correction. This surge in volume suggests elevated market activity, likely reflecting a mix of profit-taking and new inflows from traders positioning for further upside.

So far, the consolidation appears healthy. As long as Bitcoin holds above the short-term moving averages and $109,300, the market structure favors the bulls. A clean reclaim of $120K would open the path for another attempt at new highs, possibly targeting the $130K–$137K region.

Featured image from Dall-E, chart from TradingView

Amid Ripple’s move to acquire a national banking license, U.S. banking regulators have released new guidance on crypto custody, which could soon apply to the crypto firm. Crypto commentator Pumpius also highlighted what this could mean for XRP and other crypto assets. 

New Crypto Custody Could Soon Apply To Ripple

In a press release, the Federal Reserve, Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corporation (FDIC) noted that existing laws, regulations, and risk-management principles also apply to crypto custody. Ripple has applied for a banking license, and if successful, it would be regulated by the OCC. As such, this guidance is one that the crypto firm should pay attention to. 

The release stated that banking organizations may provide safekeeping for crypto assets in a fiduciary or nonfiduciary capacity. A firm like Ripple holds RLUSD and XRP, which it uses to facilitate its payment services. As such, there are instances where the crypto firm could hold clients’ funds as part of its operations. 

These regulators’ acknowledgment of cryptocurrencies also marks a huge win for the crypto industry, given the Operation Chokepoint under the Biden administration, which led to the debanking of several crypto firms. Now, crypto firms like Ripple do not only have the option of custodying their assets with other banks but will also be able to do so with a banking license on the horizon. 

It is worth noting that the OCC is expected to decide on Ripple’s application within 120 days. There is also the possibility that the decision could come sooner, given the regulatory-friendly environment for the crypto industry under the Donald Trump administration. In the meantime, guidance from banking regulators also lends more legitimacy to the crypto firm’s decision to custody its RLUSD reserves with BNY Mellon. 

Why The Custody Rule Matters For XRP

In an X post, Pumpius highlighted why this guidance from the banking regulators matters for XRP, given its ties to Ripple and projections that it could play a major role in banking at some point. He noted that this move means that U.S. banks can directly custody the altcoin for clients from retail to institutional. 

The crypto commentator further indicated that this development matters because Ripple’s private ledger, BNY Mellon custody, and RLUSD integration are being built for this moment when XRP takes over the banking rails. He added that the XRP Ledger is “battle-tested and institution-ready.” In line with this, Pumpius declared that this isn’t just crypto adoption but the institutionalization of XRP as the “ultimate reserve rail.”

At the time of writing, the XRP price is trading at around $3.08, up over 5% in the last 24 hours, according to data from CoinMarketCap.

On July 17, 2025, a historic day for the entire crypto industry, the House of Representatives passed all three major crypto bills, marking a crucial victory for digital asset proponents.

The country’s stablecoin bill, the GENIUS Act, in particular, is now set to be presented to President Donald Trump, marking the potential for the first substantial piece of cryptocurrency legislation to be signed into law.

Historic Vote For Crypto Bills

As reported by Fox journalist Eleanor Terret on social media platform X (formerly Twitter), both Democrats and Republicans rallied together, voting in a manner that exceeded expectations.

The path forward in the Senate, however, remains fraught with challenges. TD Cowen analyst Jaret Seiberg noted that while the passage of these bills is symbolically significant, the real test will come with the Senate’s ability to build the necessary bipartisan consensus to avoid a filibuster. 

Seiberg expressed skepticism about receiving comprehensive details on the Senate’s plans until late this year or early next year, emphasizing that the language of any Senate-approved bill will ultimately determine its fate.

GENIUS Act Secures Strong Approval

The House votes were telling of the growing acceptance of cryptocurrency in American politics. The CLARITY Act received overwhelming support, passing with a vote of 294 to 134, which included 78 Democrats—more than double the anticipated number. This was a stark contrast to the previous year when only 71 voted for the FIT21 legislation. 

The GENIUS Act followed suit, passing with a vote of 308 to 122, supported by 102 Democrats. The Anti-CBDC Act, while more narrowly passed at 219 to 210, still saw bipartisan backing with two Democrats joining Republicans in favor.

Featured image from DALL-E, chart from TradingView.com 

Most of the major digital assets in the ever-evolving crypto market are experiencing significant growth, as evidenced by Tether’s USDT latest milestone. The popular stablecoin has now reached a new threshold in terms of overall market value, cementing its position as a leader in the sector.

A $160 Billion Supply Mark For Tether’s USDT

In a notable growth, Tether’s USDT has formally surpassed the $160 billion mark in circulation, which is a significant milestone for the biggest stablecoin in the world. This milestone comes on the back of a resurgence in the general crypto market, with assets such as Bitcoin and Ethereum breaking barriers.

With USDT still playing a crucial role in both controlled and decentralized finance ecosystems, such an achievement reflects the increased demand for liquidity, stability, and cross-border usefulness in the digital asset field. 

Paolo Ardoino, the Chief Executive Officer (CEO) of Tether, has celebrated this milestone in a recent post on the X (formerly Twitter) platform. According to the CEO, this is “a statement of the unrivaled utility of USDT as the digital dollar for billions of people living in emerging markets and developing countries.”

Thus far, Ardoino has professed gratitude to the community for this new mind-blowing milestone. Tether’s rapid expansion indicates not only a maturing market but also a growing dependence on stablecoins as essential infrastructure for international cryptocurrency trade.

Another significant development of Tether is the substantial increase in monthly on-chain transfer volume. Data shared by the CEO shows that the stablecoin currently averages $1 trillion in on-chain volume on a monthly basis.

It is worth noting that the on-chain volume has been steadily rising from about $14.8 billion to $1.1 trillion per month, representing a 7400% growth since 2020. This sharp increase reflects the crucial role of the blockchain as a liquidity backbone in the crypto industry.

There has also been a notable surge in active user count and participation. Ardoino’s post revealed that Tether’s active users have skyrocketed from 2.8 million to 450 million, indicating an over 160x rise since 2020.

Will The Stablecoin Leader Lose Its Dominance To Upcoming Counterparts?

Despite this remarkable growth in market value, on-chain transfer volume, and active user count, the stablecoin is still on the verge of losing its market grip. This is due to upcoming regulated stablecoins like Ripple‘s dollar-pegged token, RLUSD, gaining substantial recognition in the crypto and financial landscape.

Regulations focusing on the relationship between digital assets and traditional finance are currently being developed globally, which may impact the dominance of USDT. This is due to the fact that the stablecoin might be dodging authorities’ requests for openness regarding how it manages its underlying assets.

Pakistan has moved closer to tapping El Salvador’s Bitcoin playbook. In San Salvador this week, Bilal Bin Saqib, CEO of the Pakistan Crypto Council and special assistant to Pakistan’s prime minister on crypto and blockchain, met with El Salvador Nayib Bukele.

They signed a Letter of Intent to share know‑how on public‑sector Bitcoin use, blockchain‑driven financial inclusion and policy design for markets still finding their footing.

Pakistan Signs Framework With El Salvador

According to reports, the agreement establishes a formal connection between El Salvador’s Bitcoin Office and the Pakistan Crypto Council. Its objective is to advise Islamabad while it formalizes regulations regarding the adoption of cryptocurrency.

Pakistan is already subject to a $7 billion IMF loan program to 2027. Now it wishes to learn from the mistakes Bukele made when he legalized crypto as legal tender in September 2021, while facing opposition from the International Monetary Fund regarding fiscal risks.

Just met one of the most extraordinary visionary leaders of our time, President of El Salvador, @nayibbukele

A head of state who doesn’t just talk tech, but challenges it, from AI and robotics to Bitcoin.

He’s a leader from the future, who saw the future first because when it… pic.twitter.com/QpS6vVnTxv

— Bilal bin Saqib MBE (@Bilalbinsaqib) July 16, 2025

IMF Concerns Stall Mining Plans

According to IMF statements, the fund rejected Pakistan’s bid to offer subsidized power to energy‑intensive industries, including Bitcoin miners.

That plan would have tapped up to 2,000 megawatts of seasonal electricity surplus—mainly in winter months—to run mining rigs and AI data centers.

The IMF warned that special pricing schemes risked skewing Pakistan’s energy market and undermining fiscal balance. If Islamabad presses ahead without IMF buy‑in, it could trigger fresh delays in loan disbursements.

Bitcoin Reserves And Strategic Talks

Pakistan’s delegation also held a virtual meeting with Michael Saylor, whose firm Strategy holds more than $62 billion in crypto reserves. Saylor shared insights on managing a large‑scale BTC portfolio and using digital assets as an institutional treasury tool.

Pakistan hopes to learn how to build its own “Strategic Bitcoin Reserve” without exposing public finances to wild price swings.

El Salvador now holds over 6,240 BTC, valued at about $740 million, according to BitcoinTreasuries.NET. Bukele’s team has bought more than 3,000 BTC since rolling out its Bitcoin Law, even as critics pointed to market volatility and operational hurdles.

Next Steps For Islamabad

Saqib hailed Bukele as “one of the most extraordinary visionary leaders of our time,” noting that conviction mattered more than deep pockets when staking a country’s reputation on digital currency.

Based on reports, Pakistan plans to dispatch technical teams to El Salvador later this year. They will study Bukele’s tax framework for Bitcoin gains, the setup of the country’s Bitcoin trust and pilot projects that tap blockchain for government payments.

Featured image from Shutterstock, chart from TradingView

In a bold move, California Governor Gavin Newsom launched the “California Breakthrough Project,” which brings together Ripple, Coinbase, and other tech companies to help improve government efficiency using Web3. The project closely mirrors the goals of the Department of Government Agency (D.O.G.E.), a government-focused body founded by Elon Musk, the founder and CEO of SpaceX and Tesla. 

Ripple Forms Alliance That Mirrors Musk’s D.O.G.E.

A new X social media post by crypto journalist Eleanor Terrett confirms that California has officially partnered with Ripple and other leading crypto and tech firms, possibly replicating Musk’s D.O.G.E. initiative. The new task force aims to transform public services through blockchain and Web3 innovation. 

Governor Newsom announced the launch of the California Breakthrough Project in a press release on July 15. The newly formed task force held its inaugural meeting on June 6 at Ripple’s San Francisco headquarters, bringing together top figures from major tech companies like AME Cloud Ventures, Instacart, Snapchat, Moonpay, Anduril, and more. Others included former Tesla CFO Jason Wheeler and angel investor Ron Conway etc. 

The similarities between the California Breakthrough Project and Musk’s D.O.G.E. are evident in their shared emphasis on speed, experimentation, and cross-sector problem-solving. However, while D.O.G.E. leaned heavily into rapid implementation and market-style disruption, the California Breakthrough Project seemingly prioritizes ethics, transparency, and civil engagement to avoid public backlash. 

This balancing act could determine the newly launched project’s long-term viability as it pushes the boundaries of how blockchain and digital assets like XRP might one day integrate with government functions. Ripple’s involvement also reflects its growing influence in institutional and governmental environments. Moreover, with California being one of the largest economies in the world and a supporter of digital currencies, this collaboration with various crypto and tech companies could mark a significant step toward reshaping public perception of cryptocurrencies in a more favorable light. 

California Taps Crypto And Tech To Modernize Government

According to reports, Governor Newsom launched the California Breakthrough Project to integrate input from the state’s leading crypto and tech companies, aiming to overhaul governmental operations from the ground up. The objectives of the project include diagnosing efficiencies in public service delivery and applying emerging technologies like blockchain to improve transparency, responsiveness, and inter-agency collaboration. 

The overarching strategy involves encouraging tech-led solutions for systemic government problems—a concept similar to the one behind D.O.G.E. By aligning firms that specialize in blockchain, payments, and digital infrastructure, California may not only invest in its technological advancement but also potentially lay the groundwork for the real-time application of Web3 innovation in public systems. The Governor even stated that, as the birthplace of modern tech, California is in a unique position to lead such a groundbreaking change.

Popular American-based payment company, Ripple Labs or Ripple, has made it into the headlines once again with its latest key development. The company continues to demonstrate its strong presence in the broader financial sector, reaching several significant milestones.

Top 2025 Fintech Honors Go To Ripple

Fintech is flourishing, and Ripple, a technology company, is at the forefront of this renewed wave. In a recent report, it was revealed that the firm has received official recognition as one of the top fintech companies in the world.

The 2025 survey, which includes fintechs both big and small across seven different market segments, was carried out by CBNC and Statista. Ripple’s appearance among the 2025 top fintech companies marks a major milestone in its evolution from a blockchain-based payment network to a global financial technology leader.

Furthermore, this distinguished award emphasizes the firm’s ongoing innovation in enterprise blockchain adoption, cross-border payments, and its expanding impact on the direction of digital finance. The payment company has taken to the social media platform X to celebrate this notable achievement and landmark. 

According to the report, this milestone marks the third consecutive year for the firm as one of the world’s top fintech companies. “We’re honored to be named one of CBNC’s World’s Top Fintech Companies for the third year in a row,” the company stated.

Thus far, the company has expressed its appreciation for this recognition. Ripple stated that this milestone demonstrates our continued dedication to creating the Internet of Value and revolutionizing global financial transactions.

A Shift Into The Banking Sector

It is worth noting that this significant milestone comes as the firm takes a step forward into the banking landscape. “True to our long-standing compliance roots, Ripple is applying for a national bank charter from the OCC,” Ripple CEO Brad Garlinghouse stated. 

According to the CEO, if authorized, the payment company would have federal and state oversight (through NYDFS), which would set a new and distinct standard for confidence in the stablecoin market. His statement follows the team application for a national bank license, joining the swarm of cryptocurrency businesses attempting to bridge the gap into traditional finance.

In addition, the firm has applied for a Fed Master account through Standard Custody, while banks are leaning in, and Congress is moving toward clear rules and regulations. Garlinghouse highlighted that this access would give the team the ability to hold RLUSD reserves with the Federal Reserve (Fed) directly, and add another degree of protection to RLUSD’s future proof of trust.

The CEO concluded by saying that building reliable, secure, and tried-and-true infrastructure has always been a priority for the company. “In a $250B+ market, RLUSD stands out for putting regulation first, setting the standard that institutions expect,” he added.

Donald Trump rocked the crypto world with a bold Truth Social post, calling for a 3% (or 300 basis points) rate cut by the Federal Reserve.

The U.S. president argued that current interest rates are too high, claiming they’re ‘costing the U.S. 360 Billion Dollars a Point, PER YEAR, in refinancing costs.’

Despite growing pressure from the White House, the Fed is largely expected to adopt a wait-and-see approach at its upcoming policy meeting on July 29-30.

That said, if a rate cut does happen, even unexpectedly, it could trigger a wave of risk-on sentiment among investors, with digital assets like Bitcoin and other top altcoins likely to see a surge in interest and inflows.

And even if no cut happens this month, it’s hard to imagine the Fed holding off entirely for the rest of the year. Many still believe a pivot is inevitable. If not in July, then soon after.

We asked ChatGPT what it thought about this potential macro shift, and it delivered four solid suggestions for the best cryptos to buy before the next Fed meeting.

1. Bitcoin Hyper ($HYPER) – Best Crypto to Buy Now, Bitcoin Layer 2 for Fast & Cheap Transactions

Bitcoin Hyper ($HYPER) is currently ranking near the top of ChatGPT’s altcoin suggestions for the coming months, and for very good reason.

After all, this new crypto project plans to supercharge the Bitcoin ecosystem, potentially increasing the blockchain’s utility at a time when the token’s already hitting new all-time highs.

The timing couldn’t be more perfect, and in the altcoin space, timing is everything. According to our $HYPER price prediction, the token could reach $0.32 in 2025 – a mind-boggling 2,700% gain from current prices.

$HYPER will build a cutting-edge Layer 2 on Bitcoin that integrates the Solana Virtual Machine (SVM) and use a decentralized, non-custodial canonical bridge to deliver Solana-like performance to Bitcoin’s otherwise slow and non-programmable base layer.

The bridge will convert native $BTC into “wrapped” $BTC on Hyper’s Layer 2, and you can then use these wrapped tokens across a wide range of Web3 applications, including DeFi trading, NFT platforms, and lending, staking, and swapping protocols powered by the SVM.

The best part? Bitcoin Hyper is currently in presale, meaning it’s available at one of its lowest-ever prices: just $0.0123 per token. The project has raised over $3.1M so far, and here’s how to buy $HYPER.

2. Pepe ($PEPE) – One of the Best Meme Coins to Watch This Bull Cycle

ChatGPT has also named Pepe ($PEPE) as one of the forces to reckon with in the second half of 2025.

This is largely due to its memetic appeal and just how wild the meme coin space could get if the overarching bullish sentiment in the broader crypto market continues.

GPT believes that $PEPE has a low market cap relative to its hype, suggesting that it’s potentially worth far more than it’s current price of $0.00001358 reflects.

It’s worth noting that $PEPE looks lip-smacking from a technical analysis perspective, too. The token has rallied over 21% in the past seven days, following a breakout from a brief triangle consolidation pattern.

Adding to the bullish outlook, the 10, 20, and 50-day exponential moving averages (EMAs) are all pointing upward, plus $PEPE has recently bounced off the 10 EMA, which is a classic sign of strong upward momentum.

3. Snorter Token ($SNORT) – New Telegram Trading Bot Sniping Liquidity in Meme Coins

Growing crypto adoption is also likely to trigger a massive surge in the number of meme coin traders. That’s why Snorter Token ($SNORT) is perfectly positioned to be one of the next cryptos to explode.

Currently in development, Snorter is a new trading bot built directly into Telegram. This allows traders to place buy/sell trades simply by typing commands in Telegram chat. No need for a separate app or exchange interface.

Don’t be fooled by Snorter Bot’s simplicity; it’s still a fully-featured trading bot, with advanced features such as automated sniping and copy trading, along with robust security, like built-in protections for rug pulls, honeypots, front-running, and even sophisticated MEV attacks.

Buying $SNORT won’t just give you front-row seats to the bot’s growth, but it’ll also unlock the lowest trading fees in the industry (just 0.85%), advanced analytics, and generous staking rewards (currently yielding 199%).

Moreover, according to our Snorter Token price prediction, the crypto could surge up to 850%, potentially hitting $0.94 by year-end.

It’s currently in presale, where it has already amassed nearly $2M in early investor funding. And each token is available for just $0.0985.

4. XRP ($XRP) – Cross-Border Payments Giant with Fresh Tailwinds in 2025

Gemini has already predicted a price surge in XRP this year, fueled by increasing regulatory clarity around stablecoins, including the SEC dropping its long-standing case against Ripple.

Other catalysts that could help $XRP become one of the top trending cryptos in 2025 include ongoing efforts to add smart contract functionality through an Ethereum-compatible sidechain, potentially boosting both utility and developer adoption.

On top of that, XRP is uniquely positioned to benefit from the rising trend of tokenizing real-world assets like stocks and bonds.

Combined with a recent breakout from a descending triangle pattern and strong ongoing momentum (it’s up 32% in the past seven days), $XRP looks poised to reclaim its previous all-time high of $3.3991.

Then, it could potentially make a run toward the $4 mark, which would represent a solid 30%+ move from current price levels.

Conclusion

With the U.S. Federal Reserve expected to cut rates and spark renewed risk-on sentiment across the crypto market, both established tokens like Bitcoin and high-potential newcomers like Bitcoin Hyper ($HYPER) and Snorter Token ($SNORT) could be gearing up for some truly brain-melting gains in the weeks ahead.

That said, please remember that investments in crypto are incredibly risky due to the market’s high volatility. We suggest doing your own research before investing. This article is not financial advice, after all.

What on earth is happening in meme coin land right now?

In an explosive twist no one saw coming, Bonk.fun, also known as LetsBonkFun, just dethroned Ethereum-based launchpads in 24-hour revenue, sending shockwaves through the memecoin world.

The platform not only outpaced Solana-based competitors but also pulled ahead of Ethereum itself, a staggering feat that has traders scrambling.

But it’s not just Bonk.fun that’s ripping, $SNORT, the cheeky crypto aardvark token born on the platform, is riding this momentum with a jaw-dropping surge in volume and price.

With memecoin energy back at full blast and degen capital flooding into launchpads, the question isn’t just who’s next – it’s how far can this madness go?

That’s just for a day. But for the week, bonk.fun beat out pump.fun and Raydium among launchpads. It also casually bested Solana’s weekly revenue ($8.25M to $967K).

The moves sent ripples through $BONK’s market performance, boosting the impact of meme coin launchpads while also sending $BONK skywards.

As letsbonk.fun surges and $BONK climbs, other meme coin projects look ready to rock.

Record-Breaking Revenue & Market Dominance

According to SolanaFloor, letsbonk.fun outstripped Ethereum’s 24-hour revenue, a milestone validated by DefiLlama figures showing revenues of $1.04M, nearly double Pump.fun’s $533K.. Over the week of July 7–13, bonk.fun earned roughly $8.19 M, compared to Pump.fun’s $3.1 M.

Livestream data reveals that 19,000 memecoins were launched in 24 hours via letsbonk.fun vs 9,200 via pump.fun, capturing 58% market share.

Bonk.fun appears to be amplifying momentum, not just riding an existing meme coin wave. 50% of launchpad fees are directed toward BONK buybacks, reinforcing demand and supporting token value.

$BONK has accordingly surged 70% since April, trading around $0.000037.

Bonk.fun, Powered by Solana

Bonk.fun is benefiting from a rejuvenated Solana ecosystem. Solana launchpads raised $52.6M in revenue in the past 30 days, while $SOL itself trades at $174, up 12% in the past week.

Yet with high velocity comes high risk. Many meme coins launched via these platforms collapse mere days post-launch. Others surge 1000s of percent before falling back to earth. That’s in part because of the frenetic nature of Solana meme coin trading and the broader meme coin sector.

But that crazy energy is part of what makes memes so potentially profitable and also explains why the sector is up in recent days.

Part of that increase is due to pump.fun, the former king of Solana meme coins, and the long-awaited $PUMP token launch. $PUMP briefly crested $2B market cap, before its price fell 14% to a $1.85B market cap.

In the meantime, $BONK is up 2.6% daily – and a whopping 56% over the past week.

So which meme tokens are next to go to the moon? With the craziness of the Solana ecosystem, even experienced traders need next-level tools. That’s where the Snorter Bot comes in.

Snorter Token ($SNORT) – Sniff Out the Next $BONK with the Snorter Bot

Dodge Scams. Snipe Gems. Trade Like a Pro — Automatically with $SNORT

Say goodbye to rugpulls and honeypots. Snorter Token ($SNORT) has your back with built-in scam detection and rugproof filters that keep your bags safe.

Looking for alpha? Snipe the best new launches before the crowd. Execute blazing-fast swaps on Solana’s lightning infrastructure, set stop loss and take profit like a seasoned trader.

Even better? Just copy top-performing wallets and let the system trade for you. $SNORT does it all — automatically. You focus on the gains, it handles the rest.

$SNORT powers the Snorter Bot, the best way to find hidden meme coin opportunities on the less-traveled parts of the Solana ecosystem, like Telegram. Don’t miss the tokens that skyrocket and then crash – find them early, ride them to big gains, and then take your profit.

As letsbonk.fun shows, there’s still plenty of appetite for meme coins. What is Snorter Token? It’s your key to turning that market momentum into big gains.

Learn how to buy Snorter Token and see why our price prediction shows $SNORT could reach $1.92 by the end of 2026.

Visit the Snorter Token presale page today.

Bonk.fun Blazes a Path Forward for Snorter, Solana Memes

Letsbonk.fun’s explosive rise—fueled by record-breaking revenue and boosted by surging $BTC and $SOL prices—may signal a significant shift in the memecoin landscape.

What once looked like degen chaos quickly became a serious force, with platforms like Bonk.fun leading a new wave of utility-infused meme projects. And riding that wave? $SNORT, the breakout token that’s turning heads and stacking volume.

Play carefully with Solana’s meme coin fire. Always do your own research and remember the crypto – and especially meme coins – are always volatile.

Ripple’s developer arm, RippleX, is pushing to make the XRP Ledger’s newest asset class—Multi‑Purpose Tokens (MPTs)—easier to recognize, sort and integrate across the ecosystem. In a thread posted on X late Tuesday, the team announced a draft standard, XLS‑0089d, that would give every MPT a common set of on‑ledger metadata fields, from a ticker symbol and human‑readable name to a canonical icon URL and “asset_class” taxonomy.

“Multipurpose Tokens (MPTs) unlock new flexibility on the XRP Ledger, but they need structure to be useful across the ecosystem,” RippleX wrote. “We’re proposing a recommended metadata standard to make MPTs easier to discover, rank, and integrate.

Ripple Pushes Upgrade For Make Multi-Purpose Tokens

PTs were introduced last year via XLS‑82d, which let issuers replace the familiar currency and issuer pair with a cryptographic mpt_issuance_id, opening the door to tokens whose meaning is defined entirely by an embedded JSON blob. That design choice gave builders unprecedented latitude—for example, to mint wrapped assets, gaming points or real‑world‑asset receipts—yet it also broke many UX assumptions. Without a fixed currency code, wallets and block explorers struggle to display tokens consistently, and search engines cannot tell one issuance from another.

RippleX’s own description is blunt: MPTs “lack structured fields like a currency code. Instead, they rely on a free‑form metadata field, which makes them harder to identify or display in UIs.”

The proposal, authored by Ripple engineers Shawn Xie, Greg Tsipenyuk, Shashwat Mittal, Julian Berridi and Dennis Dawson, lays out a “minimally standardized” JSON schema: “This document proposes a minimally standardized metadata format for MPTs… The goal is not to restrict expressiveness, but to define a baseline set of fields that support reliable parsing and integration across services like block explorers, indexers, wallets, and cross‑chain applications.”

Under the draft, every token would carry required keys—currency, name, asset_class—and optional ones such as desc, icon, acct_name and an array of weblinks. A 1024‑byte limit keeps the payload on‑ledger, while an external URI can point to richer off‑chain data. The spec also classifies assets by purpose (rwa, defi, gaming, memes, wrapped, other) and, when applicable, by subclass (stablecoin, commodity, equity, etc.), giving explorers a taxonomy for side‑by‑side ranking with traditional IOUs.

Adherence will be voluntary, but RippleX plans to use soft pressure: “SDKs (xrpl.js, xrpl‑py, xrpl4j) will display a warning if metadata is missing, so developers know their tokens may be harder to discover or integrate. Nothing will be blocked.”

In another tweet, the team underscored the payoff for early adopters: with the schema in place, “MPTs [become] searchable by ticker… rankable alongside IOUs… usable in explorers, DEX UIs, [and] wallets… [and] easier to parse.

”For token issuers, the proposal promises a clear path to visibility without forfeiting flexibility: the on‑ledger stub ensures a base level of trust and immutability, while richer data can live off‑chain and be updated if branding or compliance needs change. Wallet vendors, in turn, gain a predictable way to surface icons, tickers and risk labels; DEX interfaces can filter or sort order books by asset class; and indexers can rank MPTs against IOUs in liquidity tables or price feeds.

For now, XLS‑0089d is currently a draft in the XRPL‑Standards repository, open for public comment. Once feedback is incorporated, the amendment needs to pass the 80% threshold to be activated. Given the Ledger’s built‑in amendment process, no hard fork is required.

At press time, XRP traded at $3.1497.

Several major US banks, including Bank of America and Citibank, are actively exploring the launch of stablecoins amid a shifting regulatory landscape in the United States that appears to be becoming more accommodating to digital assets.

Traditional Finance Moves Toward Digital Assets

According to a Reuters report, Bank of America CEO Brian Moynihan recently confirmed that the bank is in the process of developing its own stablecoin, although he refrained from providing a specific timeline for its release. 

Moynihan noted that while the bank has done considerable groundwork on this initiative, it is still assessing client demand, which he described as currently low. He emphasized that the bank would proceed with the rollout at an appropriate time, potentially in collaboration with other industry players.

Interestingly, this growing appeal towards these stable cryptocurrencies mirrors a broader trend among US banks, reminiscent of their previous adoption of peer-to-peer payment platforms such as Zelle and Venmo. 

US President Donald Trump, who has positioned himself as a proponent of cryptocurrency, is also influencing this momentum. A series of crypto-friendly bills have advanced through Congress, including one that aims to establish a regulatory framework for stablecoins. 

The dubbed GENIUS Act, is expected to reach Trump’s desk for approval, potentially paving the way for a more integrated relationship between digital assets and traditional finance.

Stablecoin Developments As Potential Client Solutions

Citigroup’s CEO, Jane Fraser, has also expressed interest in launching a stablecoin to facilitate digital payments. As reported by NewsBTC, in her remarks following the bank’s earnings report, she highlighted the opportunity that this initiative presents. 

The bank’s CEO highlighted Citigroup’s focus on launching a stablecoin and entering the tokenized deposit sector, which she believes are good opportunities for the company.

Citigroup is also reportedly exploring new solutions for stablecoins usage in terms of reserve management coupled with providing custody services for cryptocurrencies, similar to Coinbase’s strategy in this sector. 

Meanwhile, Morgan Stanley is also said to be closely monitoring developments in the stablecoin arena, with CFO Sharon Yeshaya acknowledging the potential uses for their client base, although she cautioned that it is still early to determine the impact of stablecoins on their operations.

Despite the growing interest, banks like JPMorgan Chase, led by CEO Jamie Dimon—who has been a noted skeptic of the market’s leading crypto, Bitcoin (BTC)—are also considering involvement in these dollar-pegged cryptocurrencies, although details remain sparse. 

According to Reuters’ report on the matter, the financial giants are currently awaiting legal clarity regarding stablecoins from Congress and the House of Representatives, which has contributed to a slower pace of progress than some investors had anticipated.

Featured image from Bloomberg, chart from TradingView.com 

TOKEN6900 ($T6900) has broken through the $630K threshold in just two weeks since its launch on June 30.

This signals another step towards its hard cap target of $5M, which would turn the TOKEN6900 ($T6900) presale into a resounding success.

The project shares the same ideological disorder as SPX6900, which we can safely describe as a success story, after growing almost 69M% from when it first listed two years ago to its current price of $1.80.

With its ethos of tracking Vibe Liquidity, it’s possible that TOKEN6900 coud follow the same path?

What TOKEN6900 Is and What We Should Expect from It

TOKEN6900 is all about ‘tracking vibe liquidity.’ It is a purebred meme coin; no utility, no fundamentals, and no lies. It’s the purest form that a meme token can take, completely uninhibited and unhinged.

To put it in the creators’ words:

TOKEN6900 (ticker T6900) is the apex predator of meme markets – an ERC‑20 token powered by nothing but vibes, delusion, and the collective hallucination of terminally online traders.

—TOKEN6900 Whitepaper

The tokenized brain rot is the same that infects SPX6900, which started as an ideological challenge to SPX500 and everything it stands for and eventually became something barely distinguishable, but meaningful nonetheless:

SPX6900 is the reset. SPX6900 is the canvas on which new financial dreams are painted. It’s a tapestry woven with the threads of human hope. It’s ‘the stock market for the people.’ SPX6900 sows the seeds for a forest of tomorrows.

—SPX6900 Official Manifesto

TOKEN6900’s Manifesto is shorter, but suffers from the same meme affliction that fuels SPX6900, describing the token as ‘The stock market for the misaligned. The spiritual exit liquidity for late capitalism.’ But beyond all the delicious ideological mess, does TOKEN6900 hold the same potential that SPX6900 brought to the limelight in two short years?

For context, SPX6900’s defining moment took place in September 2024, when the coin started its chart-breaking run, climbing from $0.0107 to today’s $1.80 in less than a year. Since then, $SPX has never looked back, and it’s currently still climbing.

TOKEN6900 seems to be on a similar trajectory if we look at the presale data and how investors flocked to the project the moment the presale opened its doors.

TOKEN6900 Presale Information

TOKEN6900 has currently raised over $637K and has a token price of $0.0066, but it’s growing fast as investors keep flocking, and the whales are starting to take notice, too. One of the most recent $T6900 buys took place two days ago, amounting to little over $11K.

We can link much of the investor surge to the token’s association with the highly successful SPX6900, but the project’s overarching goals, including an end-of-presale target price of $0.007125 with a hard cap of $5M, also play a part.

This means that there are simply not many spots left to fill during the presale. You either buy TOKEN6900 today or risk missing out on your slice of the pie.

The project’s long-term potential is also appealing, considering that TOKEN6900 is ‘the only honest asset on Earth.’

Everything else pretends. Bonds pretend. Stocks pretend. Governments pretend. TOKEN6900 does not pretend. TOKEN6900 offers nothing. It promises nothing. It delivers nothing. And that is priceless.

—TOKEN6900

Should You Invest in TOKEN6900?

Whether or not you should invest in TOKEN6900 depends entirely on your investment strategy and trust in the project. However, consider this: $SPX, which exhibits the same meme magic, has recorded an all-time growth rate of almost 69M%.

With $T6900 reaching the same milestone, you should expect your $100 investment to return an ROI of over $69M in just about two years.

And if that’s not a worthy selling point, nothing is.

Remember, this isn’t financial advice. Do your own research (DYOR) and only invest money you can afford to lose.

A Freedom of Information Act (FOIA) request filed in March has shed new light on the scale of Bitcoin holdings under the control of the US Marshals Service (USMS). According to the documents obtained by independent journalist L0la L33tz, the agency currently holds exactly 28,988.35643016 BTC, placing its value at approximately $1.6 billion based on the valuation provided in the disclosure. However, the USMS figures appear to be based on a BTC price of $56,000 per coin, while the market is currently trading near $119,000—more than double that estimate.

Only 28,988 Bitcoin Left?

L33tz, who published the findings on X, emphasized that the disclosure came directly from the USMS in response to a formal FOIA request. “In March, we filed a FOIA request for the amount of bitcoin held by the US Marshal Service. Today, we publish the USMS answer to our FOIA request, as well as the list of bitcoin it holds, totaling 28,988.35643016 BTC,” she wrote. The request was dated March 24, and the response was received on July 16.

The revelation quickly triggered debate across the community. Prominent industry figures reacted with a mix of surprise and criticism, noting that the holdings are far lower than many had assumed. Senator Cynthia Lummis, a longtime advocate in Congress, expressed alarm: “I’m alarmed by reports that the US has sold off over 80% of its Bitcoin reserves—leaving just ~29,000 coins. If true, this is a total strategic blunder and sets the United States back years in the bitcoin race.”

David Bailey, CEO of Bitcoin Magazine, who had previously offered $10,000 to any journalist who could confirm the government’s BTC holdings, praised the scoop and confirmed the payment to L33tz after verifying the documents. “It looks like we might know how many Bitcoin the US government is holding now and it’s about 85% less than thought. Explains why the price action was stuck for so long. Bullish,” Bailey commented on X. He later added, “If Biden sold all our Bitcoin on his way out the door, Trump is going to buy them back 2x over lmao. Mega bullish.”

L33tz used the opportunity to clarify a key distinction often misunderstood in public discourse: the difference between seized assets and forfeited assets. She explained, “The USMS is mainly in charge of forfeited assets, meaning assets that have been made property of the Government. The list I received from the USMS is a list of all BTC held by the USMS, as requested by DB. The USMS can be in charge of seized assets, but these can also be held with seizing agencies, like the DEA or the FBI—meaning that there may be other custody offices than the USMS.”

This nuance is critical because many market observers had relied on on-chain analytics platforms such as Arkham or databases like Bitcoin Treasuries to estimate US government holdings. However, L33tz noted these sources likely overstate actual government-owned Bitcoin because they track seized assets, not those formally forfeited and available for liquidation. “To the geniuses that have linked Arkham’s gov wallet tracker: these do not seem to be BTC that have been made the Gov’s property—at least not exclusively—which means they can’t sell them. For example, Arkham lists 94k BTC from the Bitfinex hack, but forfeiture in the Bitfinex case hasn’t been decided, at least last time I checked,” she wrote.

The FOIA disclosure also sheds light on the operational process. The USMS has historically managed forfeited digital assets and liquidated them via public auctions, a practice dating back to the early days of BTC when the agency sold coins from the Silk Road seizures. L33tz stated, “US Marshal Service liquidates assets in public auctions, so unless they announced a sale, this list should be accurate.” This suggests the current holdings represent coins awaiting auction rather than active strategic reserves.

The findings have also reignited speculation about possible covert sales by the Biden administration during the transition period. Executive Director of the Bitcoin Policy Institute Matthew Pines remarked via X, “Great work by Lola, which if true, confirms my suspicion that the Biden admin was covertly selling OTC during the transition. Note: my understanding is the total BTC in USG possession is significantly larger than this number but its origin & present disposition is classified.”

Others, like Galaxy Digital’s Alex Thorn, cautioned against assuming the FOIA response captures the entire picture of federal BTC holdings. “This is great journalistic work from L0la, but I want to note that the US Marshals Asset Forfeiture Division is very likely not the only agency that possesses bitcoin on behalf of the US government, whether for asset forfeiture generally or in light of the SBR,” Thorn noted, referring to ongoing discussions about a potential Strategic Bitcoin Reserve.

Beyond the numbers, the implications for the broader market narrative are significant. The assumption that the US government held almost 200,000 BTC has long shaped perceptions of a massive starting stash for a Strategic Bitcoin Reserve under the Trump administration. If, as the FOIA response suggests, the government’s liquid Bitcoin stockpile is a fraction of those estimates, the perceived overhang may be far less material than traders believed. Vijay Boyapati captured this sentiment succinctly: “Incredible. The US government holds less Bitcoin than an individual who just dumped 40,000 BTC in the last few days. The idea of a Strategic Bitcoin Reserve is laughable when individuals own more Bitcoin than the US government.”

At press time, BTC traded at $118,279.

After being in existence for over 15 years, Bitcoin has established a number of trends that analysts across the board have pointed to for historical value. One of these trends that has been established is the number of weeks that the Bitcoin price has rallied in each cycle before it saw a major pullback. Due to the similarity of each cycle over the years, one trend has stood out in particular, and that is the 6-7 week trend that often predicted when a major Bitcoin correction was due.

Understanding The 6-7-Week Bitcoin Theory

In an X post, popular crypto analyst Rekt Capital explained how Bitcoin price corrections have worked in the past cycles in a bid to understand when the next correction could be on the way. Pointing to a recurring trend, the analyst first opened with the 2013 cycle when Bitcoin had rallied, showing how much time the cryptocurrency’s price rose before it began to fall. Back in 2013, the Bitcoin price had risen for the first six weeks after entering into price discovery. Only on the 7th week did the cryptocurrency see its first major correction.

Next was the 2017 cycle when Bitcoin had gone into price discovery and rallied for upwards of seven weeks. This steady pattern pushed the price to new all-time highs after rallying for almost two months. Ultimately, it was not until the 8th week that BTC experienced its first major price correction. It would fall 34% during this time, signaling the end of the rally.

Then, again, in the historic 2020-2021 rally, Bitcoin would enter into price discovery and for the next six weeks, it would rally relentlessly. Similar to before, the BTC price would only begin to retrace at the 7-week mark, falling 16% during this time.

The same trend also played out in early 2025 when the Bitcoin price rallied for seven weeks before correcting by 32% to the $75,000 territory in the first quarter of the year. This shows an alternation between six and seven weeks of rallying before a major correction. But nevertheless, one thing remains constant: once Bitcoin enters into price discovery, it tends to have at least six weeks of runway before experiencing its first major correction.

Where BTC Is In This Cycle

The current rally has already seen the Bitcoin price break into the $120,000 territory, which is uncharted territory for the digital asset. However, as the analyst points out, the BTC price has only been rallying for two weeks so far after the cryptocurrency entered into price discovery.

Going by the 6-7-week alternating trend, it raises the possibility that this price discovery will last for six weeks. Given that it is only Week 2, according to Rekt Capital, there is theoretically another month of upside to come before the Bitcoin price faces its first real rejection and subsequent correction.

This could mean that the rest of the month of July will continue to be bullish for the crypto market, and move into the month of August. However, going by the 6-7-week theory, the end of August will be bearish for the market as the first correction, likely to be an above 30% correction, will happen around this time.

The future of three critical crypto bills faced uncertainty late Wednesday as conservative House Republicans united to oppose the legislation, bringing the process to a standstill. 

According to CNBC information, fresh opposition emerged from a new faction of Republicans who resisted “last-minute changes” aimed at appeasing earlier holdouts, complicating negotiations that are ongoing.

House GOP Divisions

As of late Wednesday, more than half a dozen Republicans reportedly joined Democrats in voting against allowing two of the regulation bills to advance in their current forms. 

This impasse has raised concerns about the ability of House Republicans to reconcile their differing views on crypto regulation, even though the bills generally enjoy broad support. 

House Speaker Mike Johnson from Louisiana can afford to lose only a few Republican votes to pass the measures through a party-line vote, making the current stalemate particularly precarious.

The situation also casts doubt on President Donald Trump’s influence within the party. After a meeting in the Oval Office on Tuesday evening with a group of conservative Republicans, Trump announced that they had reached an agreement to support the rules necessary for moving forward. 

However, Wednesday’s developments signify a setback for the crypto industry, which had hoped for legislative progress during what had been dubbed “Crypto Week.”

Alternative Strategies For Crypto Legislation

Opposition on Wednesday came not only from conservative hardliners but also from members of key committees involved in drafting the legislation. Among the bills at stake is the GENIUS Act, which successfully passed the Senate in June, alongside the CLARITY Act and another bill restricting the Federal Reserve from establishing a central bank digital currency (CBDC).

As negotiations continue, Republican leadership is reportedly contemplating alternative strategies, including adding the central bank digital currency ban to an unrelated must-pass bill, a move reported by Punchbowl. 

Market journalist Eleanor Terret noted on social media that Senate Republicans are hoping for some progress from the House to maintain momentum for crypto legislation, although they want to avoid another failed vote.

Some of the Republicans who initially opposed the bills but later shifted their stance after meeting with Trump did so on the condition that strong anti-central bank digital currency provisions would be integrated into the CLARITY Act, as the GENIUS Act is not open for amendments. 

However, the authors of CLARITY, along with several other committee members, have expressed concerns that combining these two initiatives could jeopardize the bipartisan market structure legislation they have worked on for months.

One Republican holdout, Representative Chip Roy, expressed skepticism about the agreements made previously, suggesting that the consensus reached in the White House meeting may no longer hold.

In light of the evolving situation, GOP leaders are now pushing to incorporate anti-CBDC language into the National Defense Authorization Act (NDAA) as another potential pathway for advancing the legislation. 

Featured image from DALL-E, chart from TradingView.com 

The Singapore High Court has reversed its earlier ruling, paving the way for a WazirX revote that could lead to user crypto distribution.

WazirX Given Greenlight By Court For Revote

In a new post on X, Indian crypto exchange WazirX has shared details of the Singapore High Court hearing held on July 16th. The court has set aside its earlier rejection of the platform’s restructuring proposal and has approved a fast-tracked revote that could allow the exchange to open back up.

WazirX closed its doors almost exactly a year ago, on July 18th, after falling prey to a notorious hack that drained it of user crypto funds amounting to $234 million. At the time, the exchange held about $500 million in its reserves, meaning almost half of its assets were wiped out.

The hack was later linked with North Korean hackers part of the Lazarus Group. When the breach became known, the exchange suspended deposits and withdrawals, and to this day, these channels haven’t been reopened, although that may be about to change.

WazirX has been planning a restructure through its parent company Zettai PTE LTD and during a vote, the proposal ended up finding overwhelming support from the creditors. The Singapore High Court rejected the plan during a hearing on June 4th, however, citing concerns over regulatory compliance with Singapore’s Financial Services and Markets Act (FSMA) and the involvement of Panama-based entity Zensui in the distribution process.

The company amended the proposal and returned to court again. After the latest hearing, the Singapore High Court has now given its greenlight on the updated plan and allow the exchange to conduct a fast-tracked revote with its creditors.

Alongside the news, Nischal Shetty, CEO of WazirX, has broken a long silence on X to comment on the outcome. “The broad amendment is that instead of Zettai, it will be Zanmai helping with the fund distribution if the scheme is approved,” noted Shetty.

Zanmai Labs is the Indian entity behind WazirX that manages the Indian Rupee (INR) component of the platform. Zettai, on the other hand, was the one looking after the crypto side of things, which is why the firm has been at the center of the legal proceedings.

The data of the vote will be announced soon, according to Shetty. “If the amended scheme is approved by the requisite majority of creditors and sanctioned by the court, it is contemplated that the WazirX platform will reopen,” said WazirX in the announcement.

It now remains to be seen how things will develop from here and whether the platform’s users who have been waiting for their crypto for over a year will finally get it back.

Bitcoin Price

At the time of writing, Bitcoin is trading around $119,300, up over 8% in the last week.