Crypto

Bitcoin’s parabolic rally could last until Christmas with a cycle top near $300,000, according to one analyst. Key takeaways: Bitcoin is ahead of its long-term “power law” curve, historically leading to euphoric price highs in previous cycles. A falling dollar and anticipated Federal Reserve interest rate cuts may trigger a broader risk-on rally, with Bitcoin as a major beneficiary. Read more

Tether announced it will discontinue support for its USDT stablecoin on five “legacy” blockchains, including Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand. According to the July 11 announcement, the move will become effective Sept. 1, ending redemptions and freezing remaining tokens on those networks. The decision comes as part of what the company […] The post Tether to sunset USDT redemptions on 5 ‘legacy’ networks including Bitcoin Cash, Algorand appeared first on CryptoSlate.

NFT-related tokens delivered the strongest sector performance in the second quarter, gaining an average of 55.4% even as dollar-denominated NFT trading volume fell to multi-year lows. Artemis data shows that the average gains from NFT-related tokens surpassed the second-best performance, which was Ethereum’s (ETH) 37.2%, by nearly 50%. Pudgy Penguins’ PENGU token accounted for much […] The post NFT-related tokens soar in Q2, with PENGU leading despite decline in trading volumes appeared first on CryptoSlate.

Florida investigates Robinhood Crypto for allegedly misleading users with claims of offering the lowest crypto trading costs.

Some Democrats are pledging to punish other party members who support what they see as “Trump’s crypto corruption.” Leadership has largely stayed out of the fight.

US President Donald Trump has issued five pardons for figures in the crypto and blockchain industries, and may have received requests from Changpeng Zhao and Sam Bankman-Fried. Anatoly Legkodymov, a Russian national and former CEO of cryptocurrency exchange Bitzlato, reportedly requested a federal pardon from US President Donald Trump after a 2023 guilty plea and serving 18 months in prison. According to a Friday report from the Russian state media outlet TASS, Legkodymov’s legal team officially asked Trump for a presidential pardon after he pleaded guilty to operating an unlicensed money transmitting business. Legkodymov was indicted in January 2023, pleaded guilty in December, and was sentenced to time served in July 2024 after being in custody for about 18 months.  “Anatoly [...] became a target in a political campaign against the crypto market and talented Russian programmers,” said Ivan Melnikov, vice president of the Russian branch of the International Committee for Human Rights, according to TASS. “His...

Crypto-focused companies benefited from the surge in crypto markets this week.

Former Binance CEO Changpeng Zhao allegedly supported crypto projects tied to the Trump family while privately seeking a presidential pardon, according to a July 11 Bloomberg News report. The report claimed that Binance wrote the foundational smart contract code for USD1, a stablecoin issued by World Liberty Financial, a company affiliated with President Donald Trump. […] The post Binance allegedly wrote the code for WLFI’s stablecoin USD1 appeared first on CryptoSlate.

Stablecoin issuer Tether is ending support for USDT on five "legacy" blockchains after previously halting minting on those networks.

French J3 cybercrime unit launches probe into X’s algorithm as EU scrutiny intensifies. The French Public Prosecutor’s Office has opened an investigation into X over the alleged use of its algorithm for foreign interference. According to a statement from Magistrate Laure Beccuau on Friday, prosecutors have launched a probe into whether X violated French law by manipulating its algorithms to extract user data fraudulently. The investigation was launched after two reports were submitted to the Paris Public Prosecutor’s Office’s cybercrime division on Jan. 12 — one by MP Éric Bothorel, a member of French President Emmanuel Macron’s Ensemble Pour La Republique party, and another by a senior government official whose identity was not disclosed. Read more

House Republicans announced a "crypto week" to consider three digital asset bills starting on Monday, but Democratic leaders are pushing back. The political division in the US Congress over digital assets seems to be deepening as top Democrats in the House of Representatives have announced their agenda following Republicans’ push to address three crypto-related bills starting on Monday. In a Friday notice, House Financial Services Committee ranking member Maxine Waters and the digital assets subcommittee ranking member Stephen Lynch said they would lead Democrats in opposition to Republican efforts to pass what they called “dangerous” legislation. Republican leaders said earlier this month that they would address bills on payment stablecoins, crypto market structure and central bank digital currencies (CBDCs) starting Monday. Read more

Publicly traded Upexi is poised to boast the largest Solana treasury stash once its latest funding round is completed.

Investors are pouring capital into U.S.-listed ether ETFs, helping push the asset's price to $3,000.

Core Scientific and CoreWeave announce a massive $9B merger while Bitcoin ETFs see their second-biggest day ever with $1.17B in inflows.

Over the past weeks, bitcoin’s spot CVD has recorded rare buy-side spikes, while futures CVD have been more reactive.

BlackRock’s iShares Bitcoin Trust (IBIT) crossed $80 billion in assets under management on July 10, becoming the fastest exchange-traded fund (ETF) to reach the threshold in 374 trading days. Bloomberg senior ETF analyst Eric Balchunas noted on X that IBIT outperformed the Vanguard S&P 500 ETF (VOO), which took 1,814 days to accumulate the same […] The post BlackRock’s IBIT vaults over $80B in assets, breaks ETF speed record appeared first on CryptoSlate.

Ego Death Capital raises $100 million for Bitcoin startups, while Robinhood face scrutiny over its equity token offerings. Crypto and blockchain venture capital came roaring back in the second quarter, with startups raising a combined $10 billion during the period. For venture capital firm Ego Death Capital, however, it’s Bitcoin (BTC) — not broader crypto — that will drive the future of secure decentralized finance. Earlier this week, the firm announced a new $100 million fund dedicated to investing in early-stage Bitcoin companies. Meanwhile, Robinhood is doubling down on its tokenization push, even as European regulators scrutinize its so-called “private equity” offerings. While Robinhood has long been active in digital assets, its deeper commitment to the space has helped propel its stock to all-time highs. Read more

On deck: Stablecoin, market structure and central bank digital currency bills.

As Bitcoin price hits new highs and altcoins soar, traders are curious to know if a new super cycle has begun. Key takeaways: Institutional flows are growing, but retail interest and App Store rankings remain unusually low. A weakening US dollar or major ETF adoption could push the crypto market cap well above its previous highs. Read more

The discontinuance of USDt on these blockchains has been in the works for years, as Tether looks to pivot its strategy to other protocols. Tether is discontinuing redemptions for USDt (USDT) on five legacy blockchains starting Sept. 1, the company announced on Friday. The move affects users of Omni Layer, Bitcoin Cash SLP, Kusama, EOS (now Vaulta), and Algorand. “Sunsetting support for these legacy chains allows us to focus on platforms that offer greater scalability, developer activity, and community engagement,” Paolo Ardoino, CEO of Tether, said in a statement. Tether’s sunsetting of support for these particular blockchains has been in the works for some time. In August 2023, the company announced it would no longer be issuing USDt on the Omni Layer, Kusama, and Bitcoin Cash SLP. In June 2024, Tether halted minting on EOS and Algorand. Read more