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.