It was found that two newly created wallets withdrew a large amount of Ethereum (ETH) from the cryptocurrency exchange Kraken. According to Lookonchain on the 19th (local time), a wallet address created 6 hours ago withdrew 22,434 ETH (worth about $79.5 million). Meanwhile, Ethereum is currently trading at $3,543.88 on CoinMarketCap, down 1.72% from the previous day.
Block Inc., the fintech company led by Jack Dorsey, is reportedly set to be included in the S&P 500 index. According to Bloomberg on the 19th (local time), Block will be added to the S&P 500 index starting July 23. This action fills the vacancy created by the acquisition of Hess Corp. by Chevron. Meanwhile, Jack Dorsey is known as a longtime supporter of Bitcoin, and Block has recently integrated Bitcoin payment functionality into its Square payment terminals.
SharpLink Gaming, which has adopted Ethereum (ETH) as a strategic reserve asset, is moving to accelerate additional purchases of Ethereum. According to Bitcoin.com on the 19th (local time), SharpLink Gaming has applied to issue $5 billion in new common stock to fund further purchases of Ethereum. With this capital increase plan, the total stock issuance of SharpLink Gaming has expanded to $6 billion. Of this, $720.8 million worth of shares have already been sold. Meanwhile, according to EmberCN, SharpLink Gaming acquired an additional 4,904 ETH (about $17.45 million) via Coinbase Prime two hours ago. To date, it has secured a total of 358,000 ETH, with the average purchase price estimated at around $2,825.
Immediately after U.S. President Donald Trump signed the stablecoin regulatory bill, the GENIUS Act, Tether and Circle each announced their U.S. market strategies. According to Decrypt on the 19th (local time), Paolo Ardoino, CEO of Tether, stated, "We plan to officially launch USDT in the U.S. in compliance with the GENIUS Act, and will also release a local stablecoin that aligns with domestic regulations." Jeremy Allaire, CEO of Circle, commented, "The GENIUS Act officially recognizes our existing compliance model," and added that they "intend to strengthen their position in the market." Meanwhile, both CEOs attended the signing ceremony at the White House, but it was reported that there was no interaction or conversation between them.
The virtual asset (cryptocurrency) exchange 'Bullish' has reportedly submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC). On the 18th (local time), CNBC reported that "Bullish has officially submitted its IPO application to the SEC and plans to list on the New York Stock Exchange (NYSE)." The ticker has been decided as 'BLSH'. Bullish is an exchange led by Tom Farley, former chairman of the New York Stock Exchange, and was founded as a spin-off from Block.one. In 2023, it attracted attention by acquiring the crypto-focused media outlet CoinDesk.
The new token PUMP from the Solana (SOL)-based meme coin creation platform Pump.fun has turned bearish right after its initial coin offering (ICO). According to The Block on the 18th (local time), PUMP is currently trading at around $0.004, falling 22% in a single day, returning to its listing price level. Previously, through its ICO last week, PUMP raised $600 million in just 12 minutes. 15% of the total PUMP supply was sold in the public sale, while the remaining 18% was sold in a private sale. The decline of PUMP also aligns with Pump.fun's decrease in Solana meme coin market share. According to data from The Block, LetsBONK has surpassed Pump.fun's Solana-based meme coin issuance since two weeks ago.
US securities brokerage Charles Schwab is pushing ahead with plans to launch spot trading services for Bitcoin (BTC) and Ethereum (ETH). According to Bloomberg on the 18th (local time), Charles Schwab CEO Rick Wurster stated at the Q2 earnings announcement, "As part of our expansion into the digital asset (cryptocurrency) sector, we are preparing spot trading for Bitcoin and Ethereum." Furthermore, Charles Schwab is also reviewing the issuance of a stablecoin. CEO Wurster added, "We are considering various options, including issuance through a bank consortium or independently," and emphasized, "Stablecoins are likely to play an important role in blockchain transactions, and we will provide such offerings."
U.S. Treasury Secretary Scott Bessent described the stablecoin regulation bill, the GENIUS Act, as a historic piece of legislation. On the 19th (local time), according to Watcher Guru, Secretary Bessent said, "The GENIUS Act, which establishes a regulatory framework for stablecoins, is historic legislation and will enable the United States to lead the global digital currency revolution." Meanwhile, the GENIUS Act stipulates the eligibility requirements for stablecoin issuers and requires reserves to be maintained at a 1:1 ratio in U.S. dollars or equivalent liquid assets.
With the passage of the US stablecoin regulation bill, the 'GENIUS Act', leaders in the virtual asset (cryptocurrency) industry are evaluating it as a significant turning point for the market. According to CryptoNews.com on the 19th (local time), Ian De Bode, Chief Strategy Officer (CSO) of Ondo Finance, assessed, "This bill marks the start of a new regulatory era." Lukas Enzersdorfer-Konrad, Vice President of Bitpanda, also expressed a positive opinion about the legislation. He said, "US regulatory progress is shaping investor sentiment," and "This has triggered broad optimism in both the Bitcoin (BTC) and altcoin markets." Tae Kyung Oh, CEO of Gluwa, likewise commented, "As the first federal regulatory framework for dollar-linked stablecoins, this bill signals support for responsible innovation, consumer protection, and the long-term growth of the industry. This will promote stablecoin adoption across payments, DeFi, and the entire financial infrastructure."
An analysis suggests that financial regulatory authorities in major countries outside the United States tend to prefer tokenized bank deposits over stablecoins. According to The Block on the 18th (local time), JPMorgan stated, "Recently, BoE Governor Andrew Bailey said it is preferable for banks to provide services in the form of tokenized deposits rather than issuing their own stablecoins," adding, "This signals that global regulatory authorities favor broader regulations." JPMorgan further predicted, "Tokenized deposits are highly likely to be adopted as a priority over stablecoins during the construction of future digital financial infrastructure." Meanwhile, tokenized deposits refer to traditional bank deposits recorded on blockchains. Just like conventional deposits, the protection systems such as deposit insurance, capital requirements, lender of last resort support, and AML/KYC regulations are maintained, while also featuring programmable payments and blockchain interoperability.
Brian Quintenz has been nominated as the Chairman of the Commodity Futures Trading Commission (CFTC), and his confirmation process is now officially underway. According to Cointelegraph on the 19th (local time), the U.S. Senate Agriculture Committee is set to hold a meeting to review the nomination of Chairman Quintenz on the 21st, ahead of a full Senate vote. This meeting marks the second stage of the confirmation process, following a personnel hearing held last June, after President Trump officially nominated Quintenz in February. Meanwhile, legislation is currently being promoted in the U.S. Congress to transfer regulatory oversight of virtual assets (cryptocurrencies) to the CFTC. If the bill passes, Quintenz is expected to directly exercise regulatory authority over the virtual asset market.
President Donald Trump of the United States once again expressed a pro-virtual asset (cryptocurrency) stance. According to Watcher Guru on the 19th (local time), Trump stated, "Virtual assets have increased more than any stock. Virtual assets make the dollar look even better and are good for the United States." Trump also emphasized that virtual assets would develop further under his administration. Meanwhile, today Trump signed the stablecoin bill, the GENIUS Act, and made clear his opposition to central bank digital currency (CBDC) by saying, "It will never be allowed."
The Securities and Exchange Commission of Thailand (SEC) and the Bank of Thailand are jointly launching a virtual asset (cryptocurrency) sandbox targeting foreign tourists. According to the local Thai media outlet Bangkok Post on the 17th (local time), this regulatory sandbox will allow foreign tourists to exchange virtual assets such as Bitcoin (BTC) into Thai Baht for use. Currency exchange will be conducted through officially licensed operators, and the exchanged Baht can be used for payments across Thailand via regulated electronic wallets (e-wallets).
According to Token Mindshare—an indicator quantifying the influence of specific tokens in the virtual asset market—of the AI-based Web3 search platform Kaito (Kaito), the top 5 most searched virtual asset-related keywords as of the 17th are Ethereum (ETH), Tether (USDT), Eclipse (ES), Base, and Espresso. Ethereum made headlines on the 16th (local time) after recording the largest-ever net inflow of funds into the US Ethereum spot ETF. On the previous day, the US Ethereum spot ETF saw a net inflow of $716.63 million (about ₩995.9 billion), marking the largest capital inflow on record. Currently, Ethereum is trading at $3,345.58 on CoinMarketCap, up 6.45% from the previous day. Tether drew attention for reportedly holding more than $127 billion in US Treasuries. Paolo Ardoino, Tether's CEO, previously stated that as of Q2, USDT held over $127 billion in US Treasuries. Eclipse (ES), an Ethereum Layer 2 solution powered by the Solana Virtual Machine, gained attention after unveiling its ES tokenomics. The total supply of ES tokens is 1 billion, with allocations as follows: 35% for ecosystem and development, 31% for early investors, 19% for contributors, and 15% for airdrops and liquidity. Currently, Eclipse is trading at $0.3281 on CoinMarketCap, down 53.57% from the previous day. Base, Coinbase’s Layer 2 blockchain, is also being increasingly mentioned following Coinbase’s announcement of its new 'Base' app, which replaces the existing wallet. The Base app is known as an all-in-one platform supporting wallet, social networking, mini apps, and trading functionalities. Espresso, an infrastructure project for Ethereum scalability and interoperability, recently drew attention for announcing the upcoming launch of its decentralized sequencer network. This will allow rollup projects to process data quickly without relying on centralized sequencers. In addition, investors are reported to be interested in Arbitrum (ARB), Bantr, Kaito (KAITO), PayPal USD (PYUSD), and Bonk (BONK).
The Republican leadership of the United States House of Representatives has agreed to resume the processing of three virtual asset (cryptocurrency) bills that had been stalled over the issue of prohibiting Central Bank Digital Currencies (CBDCs). According to Cointelegraph on the 17th (local time), after the longest procedural vote in House history, lasting nine hours, the rule for bringing the bills to the floor passed by a vote of 217 to 212. This agreement was reached by inserting a provision prohibiting CBDCs into the National Defense Authorization Act (NDAA). As a result, major bills such as the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) and the Digital Asset Market Clarity Act (CLARITY Act) can now be brought to a vote in the plenary session.
It has been confirmed that a Bitcoin (BTC) whale wallet, reportedly created during the Satoshi era, has transferred its entire holding of 80,000 BTC. On the 17th (local time), Lookonchain reported that the whale wallet had moved 40,192 BTC (approximately $4.77 billion) to a new wallet. This follows a previous transfer of 40,049 BTC to Galaxy Digital a few days earlier, completing the move of all remaining assets. Previously, Galaxy Digital immediately sent 6,000 BTC from the received BTC to Binance and Bybit, sparking speculation of a possible sell-off. The market is closely watching this event as a potential indicator of large-scale Bitcoin liquidation.
French members of parliament have submitted a bill to launch a pilot project for Bitcoin (BTC) mining utilizing surplus nuclear energy. According to CryptoSlate on the 17th (local time), French parliamentarians introduced a bill to mine Bitcoin using surplus nuclear power. This initiative suggests the potential to generate annual revenues of $100 million to $150 million (approximately ₩140 billion to ₩210 billion). This bill is based on previous discussions seeking ways to use surplus electricity generated by nuclear power plants and is drawing attention as an example of integrating Bitcoin mining into energy policy.
It has been revealed that the amount of Bitcoin (BTC) held by the U.S. Marshals Service is much smaller than previously known. According to a response from the Department of Justice to a Freedom of Information Act (FOIA) request filed by cryptocurrency journalist L0la L33tz, as cited by The Block on the 16th (local time), the Marshals Service held approximately 28,988 BTC as of March this year. This equates to about $3.4 billion (approximately ₩4,729,700,000,000) at the current market price, which is much less than earlier estimates. Meanwhile, Arkham Intelligence estimates the total cryptocurrency holdings of U.S. government agencies at about $25 billion. Bitcoin Treasuries also evaluates that the U.S. government currently holds 198,012 BTC (about $25 billion).
The US House is scheduled to conduct a procedural vote tomorrow on the 'GENIUS (GENIUS)' Act, a bill regulating stablecoins. On the 17th (local time), Eleanor Terrett, host of Crypto in America, reported via X that “The House will hold a rule vote on the GENIUS Act tomorrow. However, the vote on the market structure bill, the 'Clarity (CLARITY)' Act, is likely to be postponed to next week.” Terrett added, “The provision forbidding Central Bank Digital Currencies (CBDCs) is expected to be included separately in the National Defense Authorization Act (NDAA). This vote is a procedural rule vote before the main floor consideration of the bill, not the final vote on the bill itself.”
The U.S. Bitcoin (BTC) spot ETF recorded a net capital inflow of nearly $800 million the previous day. According to Trader T on the 17th (local time), the U.S. Bitcoin spot ETF saw a total net inflow of $799.5 million (approx. ₩1,111.6 billion) on the previous day. On this day, BlackRock IBIT stood out with a remarkable net inflow of $763.99 million. Fidelity FBTC recorded a net inflow of $10.41 million, ARK Invest ARKB had $19.82 million, and Grayscale Mini BTC recorded $5.28 million in net inflow. Other products saw no net inflow or outflow.
The U.S. Ethereum (ETH) spot ETF recorded its largest-ever net capital inflow the previous day. According to TraderT on the 17th (local time), about $716.63 million (approximately ₩995.9 billion) flowed in over the course of a single day, marking the biggest inflow recorded to date. As a result, the total Ethereum holdings of the U.S. Ethereum spot ETF increased to approximately 5 million ETH. That day, BlackRock's ETHA saw a net inflow of $489.14 million, and Fidelity's FETH recorded $113.31 million in net inflows. In addition, Bitwise's ETHW saw $14.45 million in net inflows, Grayscale's ETHE saw $54.18 million, and Grayscale Mini ETH also recorded $54.18 million in net capital inflows. Franklin Templeton's EZET saw a net inflow of $5.10 million, while Invesco's QETH and VanEck's ETHV recorded net inflows of $3.72 million and $3.69 million, respectively. There were no net inflows or outflows for the other products.
As progress on the passage of the United States' crypto (virtual asset) bill stalls, Bitcoin (BTC) is showing a downward trend. As of 10:48 AM (local time) on the 17th, according to CoinMarketCap, Bitcoin is trading at $117,826.92, down 0.63% from an hour ago. Ethereum has also fallen 1.13% in the past hour to $3,318.72, while XRP is down 0.99% to $3.01. Solana has dropped 1.6% from an hour earlier to $170.90. This decline is interpreted as being due to a red light flashing on the passage of the US crypto bill. According to Eleanor Terrett, host of Crypto in America, the number of Republican lawmakers in the US House of Representatives opposing the crypto bill has increased by one, now totaling ten.
It has been confirmed that the number of Republican representatives opposing the virtual asset (cryptocurrency) bill in the United States House of Representatives has increased to 10. On the 17th (local time), Eleanor Terrett, the host of Crypto in America, reported via X, "After one representative switched their vote from support to opposition, there are now a total of 10 Republican members in the US House opposing the virtual asset bill." Previously, Terrett had stated, "Representative Tom Emmer mentioned that no additional votes are scheduled for tonight (local time) in the House plenary session. Nine Republican lawmakers have voted against the bill, and three have yet to cast their votes."
The governance token of the decentralized finance (DeFi) protocol World Liberty Financial (WLFI), associated with the Trump family, will soon become available for trading by general investors. According to Decrypt on the 17th (local time), WLFI, the native governance token of World Liberty Financial, is preparing for exchange listing as the 'next step in community ownership and participation.' WLFI, based on Ethereum, has previously been used to exercise voting rights on project management changes, but will now become a freely tradable asset on exchanges. According to the official website, a portion of the initial token supply will be released to the market first, while the remaining tokens will gradually unlock according to a set schedule.
The MVRV indicator, which shows the unrealized profits of short-term Bitcoin (BTC) holders, has not yet reached its threshold, indicating there is still room for price appreciation, according to analysis. On the 17th (local time), CryptoQuant author Darkfost stated, "According to past cases, whenever the short-term holder MVRV reaches about 1.35 (unrealized profit of 35%), large-scale profit-taking by investors has occurred, followed by a price correction. However, the current MVRV is around 1.15, and it has not yet reached that threshold." The author further analyzed, "This is attributed to the realized price for short-term holders (orange dotted line) surpassing $100,000 for the first time in Bitcoin's history as of July 11. Considering this, Bitcoin may have an additional upside potential of about 20–25% before entering the next profit-taking range."
It has been confirmed that global blockchain venture capital Hashed has filed multiple trademark applications related to Korean Won stablecoins. On the 17th, Hashed filed trademark applications for Korean Won stablecoin names such as 'KRWo', 'OKRW', and 'FKRW' through the Korean Intellectual Property Office’s intellectual property information search service. These trademarks have been classified as designated goods related to blockchain-based electronic fund transfer services and token issuance and redemption businesses. Meanwhile, other blockchain companies such as Wemade and DSRV have also recently filed for Korean Won stablecoin-related trademarks.
It has been revealed that World Liberty Financial (WLFI), a DeFi (Decentralized Finance) protocol associated with the Donald Trump family, has additionally purchased Ethereum (ETH). According to Onchain Lens on the 17th (local time), World Liberty Financial bought 3,007.4 ETH using USDC worth approximately $10 million over the past 9 hours. The average purchase price is calculated to be $3,325.
<Today's Major Economic Schedule> ▶︎July 17 (Thu): △European Union (EU) June Consumer Price Index (KST 18:00, EST 05:00) △European Union (EU) June Core Consumer Price Index (KST 18:00, EST 05:00) △United States June Core Retail Sales (KST 21:30, EST 08:30) △US Initial Jobless Claims (KST 21:30, EST 08:30) △US Philadelphia Fed Manufacturing Index for July (KST 21:30, EST 08:30) △US June Retail Sales (KST 21:30, EST 08:30) <Today's Major Cryptocurrency Schedule> ▶︎July 17 (Thu): △UXLINK 37.5 million UXLINK token unlock △zkSync 17,308,000 ZK token unlock
SharpLink Gaming, which has adopted Ethereum (ETH) as a strategic reserve asset, has acquired more than 10,000 additional ETH. According to Onchain Lens on the 17th (local time), SharpLink Gaming purchased an additional 10,614 ETH on this day. As a result, SharpLink Gaming's total Ethereum holdings increased to 296,508 ETH, with the value of its assets reaching approximately $997.26 million (about ₩1.3831 trillion).
Coinbase has introduced a platform to replace the existing Coinbase Wallet. According to The Block on the 16th (local time), Coinbase launched the 'Base' app, which replaces the existing Coinbase Wallet. The Base app is an all-in-one platform that integrates social features, trading, payments, and mini-apps. The app began offering its beta version starting on the 16th, supporting smart wallet functionality and real-time USDC payments via Base Pay.