Bitcoin traders are getting excited over a huge short squeeze as BTC price predictions include a return to all-time highs. Key points: Bitcoin tags new August highs as traders see BTC shorts getting punished. An early retracement could well turn into a trip to $120,000, predictions say. Read more
Despite Trump’s pro-crypto stance, Unicoin CEO says US banks continue closing accounts for crypto firms under “Operation Chokepoint.” Crypto firms have been facing account closures and denials of banking services for years under the label of de-risking. Many in the crypto industry believe that the debanking represents a policy-driven effort to suppress digital assets, referred to as “Operation ChokePoint 2.0.” After President Donald Trump’s pro-crypto team won the election, many believed the era of debanking was over. His campaign rhetoric and early policy moves signaled a friendlier environment for digital assets, leading some to expect banks would ease restrictions on crypto clients. However, recent incidents suggest the practice remains entrenched. Last week, Andreessen Horowitz partner Alex Rampell warned that big banks are squeezing fintech and crypto apps in “Operation Chokepoint 3.0,” by hiking fees to access account data or transfer funds to platforms like Coinbase and Robinhood. Read more
TRM Labs says the Embargo ransomware group has moved over $34 million in ransom-linked crypto since April, targeting US hospitals and critical infrastructure. A relatively new ransomware group known as Embargo has become a key player in the cybercrime underground, moving over $34 million in crypto-linked ransom payments since April 2024. Operating under a ransomware-as-a-service (RaaS) model, Embargo has hit critical infrastructure across the United States, with targets including hospitals and pharmaceutical networks, according to blockchain intelligence firm TRM Labs. Victims include American Associated Pharmacies, Georgia-based Memorial Hospital and Manor, and Weiser Memorial Hospital in Idaho. Ransom demands have reportedly reached up to $1.3 million. Read more
Michael Saylor isn’t worried about growing treasury interest in crypto assets beyond Bitcoin, claiming that Bitcoin will outpace the S&P 500 for the “indefinite future.” Strategy executive chairman and Bitcoin maximalist Michael Saylor showed no signs of worry about the growing treasury interest in Ether and other cryptocurrencies. “I think there is an explosion of innovation across the entire crypto economy, and on the margin it is good for everybody in the digital asset space,” Saylor said during a Bloomberg interview on Friday. “I still think the vast majority of capital flowing in the space is flowing into Bitcoin,” he added. Bitcoin (BTC) Dominance, which measures Bitcoin’s share of the overall crypto market, stands at 60.18% at the time of publication, according to TradingView data. Read more
Vitalik Buterin's net worth could be bolstered even more as crypto traders are eyeing new all-time highs for Ether in just days. Ethereum co-founder Vitalik Buterin has regained his status as a ten-figure crypto holder just days after Ether crossed the $4,000 price level for the first time in eight months, according to a blockchain intelligence firm. “Vitalik Buterin is now an onchain billionaire again,” Arkham said in a post on Saturday. At the time of publication, Buterin’s portfolio is valued at approximately $1.04 billion, holding 240,042 ETH alongside smaller stakes in cryptocurrencies such as Aave Ethereum (AETHWETH), WhiteRock (WHITE), Moo Deng (MOODENG), and Wrapped Ethereum (WETH). On Saturday, Ether (ETH) climbed another 6.38%, reaching as high as $4,332 following its return to $4,000 on Friday — a level not seen since December 2024 — while Bitcoin’s (BTC) share of the crypto market cap declined. Read more
Changpeng Zhao asks the court to dismiss a lawsuit by FTX, Tom Lee says $250,000 is still in sight for BTC this year: Hodler’s Digest Crypto investors may be underestimating the extent of the US securities regulators new stance on crypto, meaning that crypto prices would still have room to grow, according to Bitwise chief investment officer Matt Hougan. US Securities and Exchange Commission Chair Paul Atkins published a speech he gave on July 31 at the America First Policy Institute about how blockchain will be integrated into the financial markets. Hougan on Tuesday said the speech caught him off guard and left him wondering whether Atkins vision had been priced into the market. Read more