Crypto

The ballooning US deficit may lead to an increase in the money supply through quantitative easing, lining up a $132,000 Bitcoin price top in 2025. The US federal debt has reached a record $37 trillion, adding fuel to calls that rising deficits and potential money supply growth may underpin a Bitcoin rally to $132,000 by year’s end. “Thanks to the One Big Beautiful Bill Act, the debt just officially passed the $37 trillion mark,” said Representative Thomas Massie in a Wednesday X post. The US deficit has risen to its latest record high a month after US President Donald Trump signed the One Big Beautiful Bill Act into law on July 4, which he said would cut as much as $1.6 trillion in federal spending. Read more

The U.S. Department of Justice is considering whether to appeal, as the sentence falls well short of the 10-year prison term sought by prosecutors.

Standard Chartered now sees ETH hitting $7,500 in 2025, fueled by record ETF and treasury buying, stablecoin growth and Ethereum network upgrades. Standard Chartered has raised its Ether price forecast for 2025 to $7,500, up from a previous $4,000 target, citing a surge in institutional buying and the accelerating adoption of stablecoins following recent US regulatory changes. In a report shared with Cointelegraph, the bank said Ether (ETH) treasury companies and exchange-traded funds (ETFs) have acquired 3.8% of all ETH in circulation since early June, almost double the fastest rate of Bitcoin accumulation by similar entities during the 2024 US election cycle. “A lot has changed since our last ETH forecast update in March,” Standard Chartered wrote. “The first strongly positive sign was significant industry engagement from the Ethereum Foundation and Etherialize, two of the organisations behind the Ethereum ecosystem,” it added. Read more

Attackers exploited Odin’s liquidity pool by depositing a worthless token like SATOSHI alongside BTC, setting an inflated price ratio in the thin market.

The NFT market cap has hit $9.3 billion, up 40% since July, as ETH tops $4,600 The non-fungible token (NFT) sector surged to a market capitalization of more than $9.3 billion as Ethereum-based collections increased along with the price of Ether.  NFT data tracker NFT Price Floor showed on Wednesday that the overall market capitalization for NFT collections had hit $9.3 billion, a 40% uptick from July. According to DappRadar data, NFTs had a market capitalization of $6.6 billion last month.  Ether (ETH), which recently pushed past the $4,000 milestone, has been a key driver behind the NFT market surge. At the time of writing, ETH traded above $4,600 and had a market capitalization of over $557 billion, according to CoinGecko.  Read more

ETH short liquidations alone account for nearly half of all crypto liquidations in the last day as Ethereum nears its all-time high.

Open interest in ether futures has increased significantly, indicating bullish sentiment among traders.

OKB skyrocketed after OKX unveiled a 65 million token burn, a fixed 21 million supply and major upgrades to its Polygon-powered X Layer network. OKB, the native token of crypto exchange OKX, gained almost 160% on Wednesday after the platform revealed an overhaul to its blockchain ecosystem and tokenomics, including a major burn. The rally, which briefly pushed OKB (OKB) prices as high as $135 from a daily low of $45, came as OKX confirmed it will conduct a one-time burn of 65,256,712.097 OKB from historical repurchases and treasury reserves. After the burn, the total OKB supply will be fixed at 21 million. OKX also revealed that it will upgrade its zero-knowledge Ethereum Virtual Machine (zkEVM)-based public chain, X Layer, “to build it into a leading public chain with a dedicated focus on DeFi, payments, and real-world asset (RWA) applications.” Read more

Two powerful forces in the D.C. crypto policy scene are seeking broker-dealer exemptions for dapp developers.

Explore the history of attempts to change Bitcoin’s 21-million hard cap and why it has proven to be hard to create an alternative to the apex asset. A hard cap is the maximum supply of a cryptocurrency that can ever exist. It’s hardcoded into the blockchain’s code and sets a strict limit on how many tokens or coins can be created. This limit promotes scarcity, which can help boost the value of each token over time. Take Bitcoin (BTC), for example. Its creator, Satoshi Nakamoto, set a hard cap of 21 million coins. No matter how much demand there is or how many miners try to produce new Bitcoin, the supply will never exceed 21 million. Read more

Ethereum whale group “7 Siblings” sold $88.2 million in ETH within 15 hours as short-term traders locked in profits. The mysterious Ethereum whale collective known as “7 Siblings” has offloaded $88.2 million worth of Ether over the past 15 hours. Holding about 1.21 million Ether (ETH), valued at $5.6 billion, the group sold 19,461 ETH at an average price of $4,532, blockchain analytics platform Lookonchain revealed in a Wednesday post on X. Between Feb. 3 and April 7, the whale group acquired 103,543 ETH for $229.7 million at an average price of $2,219. The haul included a $42.2 million purchase of 24,817 ETH at $1,700 in early April, according to data accumulated by Lookonchain. Read more

Solana and Chainlink led broad altcoin gains after a softer inflation print fueled expectations of a Fed rate cut amid institutional demand.

Bessent’s call for a half-point September rate cut follows soft jobs data and a mild inflation uptick, with crypto poised to benefit.

CoreWeave reported strong Q2 revenue, but profitability lagged and shares fell in after hours trading amid rising costs and thinner margins.

After a brief ban on X over Gaza genocide claims, xAI’s chatbot has returned, flagging antisemitism in clouds, potatoes, and its own logo.

BNY Mellon will manage and custody the assets backing OpenEden’s Moody’s “A”-rated tokenized US Treasury fund, expanding the bank’s presence in blockchain-based finance. Real-world asset (RWA) tokenization platform OpenEden partnered with The Bank of New York Mellon Corporation (BNY Mellon) to manage and custody the underlying assets of its flagship tokenized US Treasury product, TBILL.  OpenEden announced the partnership Wednesday, bringing one of Wall Street’s largest and oldest custodians into the growing market for tokenized Treasurys. OpenEden said TBILL is the first tokenized US Treasury fund with a Moody’s “A” rating to have its assets managed by a global custodian.  Read more

Coinbase has revived its fund to boost USDC liquidity in DeFi, starting with supporting the stablecoin on Aave, Morpho, Kamino, and Jupiter. Coinbase is relaunching its Stablecoin Bootstrap Fund first introduced in 2019 to boost the liquidity of the stablecoin USDC in a range of popular and emerging decentralized finance protocols. Coinbase said on Tuesday its first placements will provide USDC (USDC) liquidity into Ethereum-based lenders Aave and Morpho, and Solana-based trading platforms Kamino and Jupiter. “As we scale the fund over time and distribute liquidity across more protocols and stablecoins, we’re particularly eager to collaborate with pre-launch teams or those seeking to drive stablecoin growth from day one,” it added. Read more

ChatGPT’s ETH Analysis has reported Ethereum’s rise to $4,410, a +4.36% surge leaving it 9% from its ATH. Backed by $1.01B ETF inflows, robust EMAs, and institutional positioning, ETH shows strong bullish momentum amid potential for either an ATH breakthrough or healthy overbought correction. The post ChatGPT’s ETH Analysis Reveals Explosive Rally to $4,410 Just 9% From ATH appeared first on Cryptonews.

Long-term confidence and Pectra-improved network capabilities are driving Ethereum's rally.

The affluent Seoul district of Gangnam is ramping up its crypto confiscation initiative for tax evaders, seizing 340 million won ($244,796) since the end of last year. The post Seoul’s Gangnam District Targets Tax Evaders in Revamped Crypto Confiscation Drive appeared first on Cryptonews.