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    Crypto Catchup

    Top crypto stories this week: Bitcoin’s $123K surge, GENIUS Act, Binance’s Sharia Earn, stablecoin adoption  

    Crypto news

    The crypto space met its new glowing face this week following Bitcoin’s massive rally, scoring a new all-time high. This week, the love for stablecoins has increased as institutions and banks dove into their use cases. The digital asset industry has also quenched its thirst with new crypto bills, AI developments, and the sudden active mode of dormant Bitcoin whales.

    Bitcoin runs bull with $123,000 all-time high

    Bitcoin rushed to meet its new all-time high of $123,000 on July 14, with altcoins registering a price surge, specifically Ethereum, gained power, marking a price above $3,000.

    Crypto Week trends as key major bills evolve

    The US Crypto Week (July 14-18) nourishes three crypto bills: the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act. The GENIUS Act is eagerly waiting for the US President Donald Trump’s signature.

    Crypto whales Strategy, BlackRock buy millions worth of Bitcoin

    Nothing new, but something that’s always impactful for the crypto market! Michael Saylor’s Strategy, one of the largest corporate holders of Bitcoin, gulps 4,225 Bitcoin for $472.50 million. Meanwhile, BlackRock bought a staggering $497.3 million worth of Bitcoin.

    Binance’s Sharia Earn, the first halal crypto staking product

    The world’s first Sharia-compliant multi-token staking product, Sharia Earn, is live! Launched by Binance, the crypto product has no interest, no excessive uncertainty, and no exposure to haram (prohibited) sectors. 

    Russia’s Sberbank looks to offer crypto custody services

    Sberbank in Russia eyes crypto custody license for domestic businesses, driven by the central bank’s recently relaxed stance on crypto assets. 

    Bank of America explores stablecoin 

    Bank of America started deep diving into stablecoin usage, with the possibility of launching its own stablecoin to enhance payment infrastructure. Although the bank executives were dubious about customer demand and the clarity over regulations, they decided to work on their own stablecoin in the wake of major crypto bills.  

    More news entered the crypto land with ripple effects. Bitcoin dominance dropped to a 3-month low, Dubai launches world’s first human-machine collaboration icons to separate human and AI-driven content, total crypto market cap crosses $4 trillion, Citigroup’s plan to launch a stablecoin, and much more happened in crypto this week. Catch the front row to catch up with hot stories in crypto next week.  

    Disclaimer:

    This article is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency investments are subject to high market risk. Readers should conduct their own research or consult with a financial advisor before making any investment decisions. The views expressed here do not necessarily reflect those of the publisher.

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