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Historic Crypto Policy Win: Three Bills Clear House Despite Democrat Opposition

Three key pieces of crypto legislation—including the GENIUS Act and the CLARITY Act—passed the House of Representatives on Thursday afternoon, indicating a landmark moment for crypto policy in the U.S. BREAKING: U.S. House passes all three major Bitcoin & crypto bills: • Clarity Act • Genius Act • Anti-CBDC Act Regulatory clarity is here. 🚀 pic.twitter.com/p2JcuSxZkP — Bitcoin Archive (@BTC_Archive) July 17, 2025 Three Key Pieces Of Crypto Policy Advance In Landmark Moment The Digital Asset Market Clarity Act of 2025 (a.k.a. the CLARITY Act), which would effectively create a broad crypto market structure stateside, advanced through the House on July 17 in a 294-137 vote. The Guiding and Establishing National Innovation For U.S. Stablecoins (GENIUS) Act also passed through the chamber in a 308-122 vote, with U.S. President Donald Trump slated to ratify the bill into law on Friday afternoon. Meanwhile, the Anti-CBDC Act narrowly advanced in a 219-210 vote, with just two Democrats voting yes on the Central Bank Digital Currency bill. Top Democrats Speak Out Against Key Digital Asset Bills News of each piece of crypto legislation’s success comes just two days after the House of Representatives’ failed procedural vote that saw U.S. President Donald Trump hold Tuesday night talks with holdout lawmakers. “This is our moment—Digital Assets, GENIUS, Clarity,” Trump wrote in a July 15 Truth Social post. “It is all part of Making America Great Again, BIGGER AND BETTER THAN EVER BEFORE.” “We are leading the World, and will work hard with the Senate and the House to get even more legislation passed,” he added. However, not everyone is pleased with the crypto bills’ advancement , with leading members of the Democratic Party vocalizing their concerns over what Republicans are now calling “Crypto Week.” “Aside from lacking urgently needed consumer protections and national security guardrails, these bills would make Congress complicit in Trump’s unprecedented crypto scam—one that has personally enriched himself, his entire family, and the billionaire insiders in his cabinet, all while defrauding investors,” Congresswoman Maxine Waters said in a recent statement. Crypto proponents, however, see the digital asset legislations’ progress as a path forward to crypto-friendly policy in the U.S.

2025/07/18

Rep. Maxine Waters Doubles Down On Crypto Legislation Crypto Criticism

Congresswoman Maxine Waters (D-CA) doubled down on her anti-crypto legislative statements by saying the CLARITY Act would cause “investor harm” as part of her “Anti-Crypto Corruption Week” initiative in a new press release on Thursday. Rep. Maxine Waters Slams Crypto Bills In Fiery Press Release Published on the Democrats’ U.S. House Committee on Financial Services website , Waters slammed the Digital Asset Market Clarity Act of 2025, better known as the CLARITY Act. “The bill presents several serious risks: it exposes consumers to exploitation by bad actors in the crypto industry, undermines national security, and ignores Donald Trump’s escalating conflicts of interest tied to his personal involvement in cryptocurrency,” Waters wrote. 🇺🇸 Three crypto bills are now officially being debated on the House floor before a vote 🏛️ Congresswoman Maxine Waters, the top Democrat on the Financial Services Committee, doesn’t look too pleased… pic.twitter.com/18r6IFMR18 — ThuanCapitalGlobal (@ThuanGlobal) July 17, 2025 “This bill, which should be called the ‘ CALAMITY Act ,’ is bad public policy, plain and simple,” she added. “This bill would lead to increased investor harm, plant the seeds for the next financial crisis, and endanger our national security.” Donald Trump’s Crypto Ties Questioned Waters’ latest press release comes the same day U.S. lawmakers are slated to hold a floor vote on key crypto legislation amid Republicans’ self-declared “Crypto Week.” The Guiding and Establishing National Innovation For U.S. Stablecoins (GENIUS) Act is also being considered alongside the CLARITY Act and anti-Central Bank Digital Currency (CBDC) provisions. While the pieces of digital asset legislation are widely seen as positive by the crypto community, critics of the bills argue that they lack necessary regulatory oversight and potentially allow politicians to profit from their own cryptocurrencies. U.S. President Donald Trump has faced growing scrutiny in recent months over his ties to the digital asset sector after having launched his $TRUMP namesake memecoin this past January. Shortly after, the Trump-affiliated crypto platform World Liberty Financial launched its own stablecoin, USD1. “No one should be surprised that the Republicans’ next order of business is a billion-dollar handout to the President himself,” Waters said.

2025/07/18

China Eyes RMB-Backed Stablecoins to Crack $250T Cross-Border Payment Market

Key Takeaways: Former Deputy Finance Minister Zhu Guangyao proposed integrating RMB-backed stablecoins into China’s national financial framework. He described dollar-backed stablecoins as a continuation of U.S. monetary dominance via digital channels. The proposal implies a gradual path to currency internationalization without loosening China’s capital controls. At a closed-door seminar hosted by the New Economists Think Tank, former Deputy Finance Minister Zhu Guangyao proposed incorporating yuan-backed stablecoins into China’s top-level financial strategy, citing shifts in U.S. policy and emerging global stablecoin infrastructure. According to New Economists , Zhu focused exclusively on fiat-backed stablecoins, excluding other digital assets, and examined their growing role in international finance. Zhu Warns of U.S. Stablecoins He described dollar-pegged stablecoins as an extension of U.S. monetary strategy, stating they may represent “the third phase of the Bretton Woods system.” The original Bretton Woods structure, introduced in 1944, tied global currencies to the U.S. dollar, itself pegged to gold. After the gold-dollar link was severed in 1971, the U.S. maintained dominance through dollar-priced oil trade. 💲 Without regulatory support for yuan-backed stablecoins, China risks falling behind in digital finance infrastructure. #china #stablecoin https://t.co/5XxK6NlwSv — Cryptonews.com (@cryptonews) July 1, 2025 Today, Zhu argued, dollar-backed stablecoins serve as a new mechanism to sustain that position. Based on the data presented, stablecoin transaction volumes reached $27.6 trillion in 2024, exceeding those of Visa and Mastercard, while cross-border payments surpassed $250 trillion. The U.S. dollar remained the top settlement currency, accounting for nearly half of all SWIFT transactions in May. Zhu said recent U.S. regulatory actions, including the June passage of the Lummis–Gillibrand Payment Stablecoin Act, indicate an effort to consolidate dollar-based stablecoins within a U.S.-regulated framework. The law requires all such stablecoins to be fully backed by liquid U.S. assets and issued by licensed entities, reinforcing dollar liquidity and extending extraterritorial influence. He also cited the U.S. Treasury’s gold revaluation discussions and the Fed’s easing of capital reserve rules for banks as signs of coordinated fiscal recalibration, potentially to accommodate stablecoin growth. China’s Internationalization of CNY Zhu proposed three policy directions for China: treat Hong Kong as a regulatory sandbox under the new stablecoin ordinance; develop offshore and domestic CNY stablecoins; and monitor how U.S. regulators enforce fiat-backed stablecoin rules, including constraints on foreign issuers. He concluded by stating that “this must become part of our national financial strategy,” referencing stablecoin development under Chinese monetary frameworks. Integrating yuan-backed stablecoins into global payments could diversify settlement channels beyond SWIFT and CHIPS, especially in regions where China has built trade or infrastructure ties. If designed to interoperate with foreign platforms while complying with international audit and reserve standards, Chinese stablecoins could serve as a tool for incremental currency internationalization without the capital account liberalization associated with full convertibility. Frequently Asked Questions (FAQs) How might foreign governments react to a Chinese-issued stablecoin in global markets? Regulatory responses may vary. Countries aligned with U.S. policy could resist infrastructure relying on CNY settlement, while others may view it as a means to reduce dollar exposure or diversify reserves. Some may raise concerns about financial surveillance or political dependencies. Could CNY stablecoins be integrated into Belt and Road projects? A yuan-backed stablecoin could theoretically support project financing, payment clearing, and supply chain settlements across Belt and Road corridors. This would require coordinated regulatory agreements and technical interoperability with partner nations’ financial systems. What role might central banks play in shaping private stablecoin infrastructure? Some central banks may issue standards or licenses to oversee fiat-backed stablecoin operators, while others may collaborate through multilateral mechanisms to enforce reserve rules, interoperability, or cross-border settlement conditions.

2025/07/18

Russia’s Sberbank Seeks Green Light for Crypto Custody Amid Regulatory Push

Sberbank, Russia’s largest state-owned lender , announced its intention to offer custody services for cryptocurrency assets, according to a Reuters report on July 17. Russia's Sberbank offers custody services for Russian crypto assets https://t.co/TvWlwh3hrF https://t.co/TvWlwh3hrF — Reuters Business (@ReutersBiz) July 17, 2025 The bank’s plan reflects a growing acceptance of crypto within the country, as government institutions reconsider their earlier hardline stance. Anatoly Pronin, executive director of Sberbank’s alternative payment solutions division, revealed that proposals have already been submitted to the central bank outlining how crypto custody could be introduced under existing financial structures, Reuters reports. The proposals suggest treating digital assets similarly to traditional bank-held funds, offering both user protection and legal control. If approved, these custody services would allow tokens to be frozen upon request by law enforcement, while also reducing transaction complexity and lowering vulnerability to hacks. Geopolitical Pressures Drive Regulatory Recalibration Russia’s stance on digital currencies has been shifting in light of sanctions from Western governments tied to the conflict in Ukraine. Last year, the central bank backed legislation allowing the use of cryptocurrencies in cross-border trade, a sharp turn from its previous resistance. This pivot is seen as a way for the Russian economy to circumvent international financial restrictions. By building internal infrastructure for digital asset transactions, including custody solutions, Russian institutions are working to reduce dependence on foreign crypto firms. Gleb Zemskoy, director of blockchain development at Insight Finance, stressed the importance of local custody options, stating that no fund or serious user could operate without one, Reuters reports. He warns of the dangers of relying on international custodians, which could introduce exposure to foreign jurisdiction risks. A Domestic Custodian for a Global Market The central role of custodians in the digital finance world is becoming increasingly apparent. With the custody market currently dominated by private firms based outside of Russia, local entities like Sberbank are positioning themselves to fill that void domestically. Zemskoy describes custodians as the “backbone” of the digital economy, emphasizing the urgency of Russia developing its own infrastructure. Sberbank’s ambition is not only to safeguard clients’ tokens but to integrate crypto asset handling into the country’s broader financial network. If approved, the bank’s initiative could make it easier for businesses and consumers in Russia to conduct crypto transactions with greater trust and regulatory protection. Russian Lawmakers Pass Digital Ruble Bill Earlier this week, Russian lawmakers voted in favour of a digital ruble bill that mandates a September 2026 rollout for the CBDC. Per the state-run news agency TASS , the Duma has adopted a law on the “gradual introduction” of the digital ruble, beginning next year. Lawmakers voted in favor of the bill in its second and third readings. The bill will now pass to the Russian upper house, the Federation Council, for approval. The bill will then pass on to President Vladimir Putin, who will officially sign the bill into law. These two steps are mere formalities, however, with the law slated to come into force on September 1, 2026. This is the central bank’s new date for a nationwide rollout, following its last-gasp decision to postpone its summer 2025 CBDC launch plans.

2025/07/18

Pakistan and El Salvador Strengthen Diplomatic Ties With New Crypto Alliance

Key Takeaways: Pakistan and El Salvador formalize diplomatic ties with crypto at the center. Pakistan plans a national Bitcoin reserve and regulatory body for oversight. El Salvador maintains active Bitcoin purchases under an IMF deal. Pakistan and El Salvador have initiated formal diplomatic ties centered on cryptocurrency cooperation, according to a report published by Bloomberg . The partnership follows a meeting in San Salvador between Bilal Bin Saqib, special assistant to Pakistan’s prime minister on crypto and blockchain, and El Salvador President Nayib Bukele. Pakistan and El Salvador Partner for Digital Assets The discussions focused on knowledge-sharing in digital asset infrastructure and policy, while Pakistan plans to structure its crypto markets under regulatory oversight. Pakistan recently allocated 2,000 megawatts for Bitcoin mining and intends to establish a national Bitcoin reserve. The government previously launched the Pakistan Virtual Assets Regulatory Authority (PVARA) to oversee the domestic digital asset market. 🇵🇰 Pakistan creates digital assets regulator PVARA to oversee crypto industry with @cz_binance and @saylor as strategic advisors amid massive 40M users and $300B annual trading volume. #Pakistan #Crypto https://t.co/sGm3VPdu1M — Cryptonews.com (@cryptonews) July 8, 2025 Earlier this year, Saqib stated that up to 20 million Pakistanis currently hold crypto, despite ongoing caution from the country’s central bank. El Salvador adopted Bitcoin as legal tender in 2021 and continues to acquire the asset while under an International Monetary Fund (IMF) agreement. According to government figures, the country holds 6,238 Bitcoins. Tether also opened a headquarters there in January. Bitcoin Acquisition vs IMF Agreement Pakistan is currently under a $7 billion IMF program that runs through 2027. The fund has expressed concerns about state-level digital asset purchases, but El Salvador has continued its policy regardless of the terms. “Bitcoin keeps being an important project,” said El Salvador’s economy minister , Maria Luisa Hayem, when the government purchased seven Bitcoins despite the agreement with the IMF. “There is an asset accumulation that we’re seeing from the government perspective, from the private sector perspective.” By forming bilateral channels focused on infrastructure and governance, countries under IMF influence may seek greater autonomy in structuring digital asset policies without triggering compliance issues or threatening macroeconomic stability. Other emerging economies with large unbanked populations are also exploring sovereign digital asset programs, seeking to reduce reliance on foreign exchange reserves and expand financial access without altering core monetary frameworks. Frequently Asked Questions (FAQs) Could this agreement lead to joint mining or shared infrastructure between Pakistan and El Salvador? While not disclosed in current statements, both countries are actively investing in Bitcoin mining. Future collaboration could include technology transfer, operational partnerships, or coordinated infrastructure planning if aligned under bilateral frameworks. How does Pakistan’s crypto stance compare with other IMF program countries? Most IMF-supported nations have either restricted or delayed digital asset integration. Pakistan’s move to create a national reserve and regulatory authority places it ahead in formal crypto adoption among peers under similar fiscal supervision. What challenges might Pakistan face in implementing a national Bitcoin reserve? Potential obstacles include central bank resistance, volatility management, custodial infrastructure, and compliance with existing IMF conditions. Legal clarity on asset classification and secure storage mechanisms will also be essential.

2025/07/18

Smart ETHRANSACTION Cloud Mining Could Help You Earn Extra Income

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2025/07/18

Westpac and Australia’s RBA Launch Chainlink-Based Tokenized Asset Settlement Project

Westpac Institutional Bank has partnered with Chainlink and Imperium Markets to implement blockchain-based tokenized asset settlement capabilities through Project Acacia. The Chainlink Runtime Environment will orchestrate secure Delivery vs. Payment (DvP) settlement of tokenized assets across blockchain markets and Australia’s existing PayTo domestic payments system. We are excited to announce that Westpac Institutional Bank ( @Westpac ) and Imperium Markets are implementing Chainlink in Project Acacia, a new joint initiative between the Reserve Bank of Australia and Digital Finance CRC (DFCRC). https://t.co/pLh1i6Vqzy The Chainlink Runtime… pic.twitter.com/hO84SJnVqh — Chainlink (@chainlink) July 17, 2025 Australia’s central bank has estimated that tokenization could save asset issuers up to AUD $12 billion annually in Australian markets. The initiative builds on the RBA’s broader six-month pilot program announced in July , which selected 24 industry participants to conduct 19 real-money transactions and five proof-of-concept simulations across multiple asset classes. Westpac Extends PayTo Infrastructure for Tokenized Asset Transactions Westpac’s proof of concept seeks to demonstrate that the existing PayTo infrastructure can handle the settlement and clearing of large wholesale banking payments required for tokenized asset transactions. PayTo, launched by Westpac in 2024, operates as a digital-first alternative to direct debit payments that enables real-time transactions with enhanced visibility and control for customers. The system settles transactions using banks’ existing exchange settlement accounts with the RBA while offering rich transaction data, verified authorization, and secure storage capabilities. Jeff Byrne, Managing Director of Global Transaction Services at Westpac Institutional Bank, said the bank is “helping the RBA explore what digital currencies could look like in the real world, while giving our customers access to new payment options safely and securely.” Beyond the immediate settlement capabilities, the project extends Westpac’s PayTo capabilities to emerging technologies such as asset tokenization while demonstrating ways to unlock new value while protecting customers. The proof of concept also provides Westpac with an opportunity to test post-quantum cryptography in financial systems, using advanced encryption algorithms designed to resist potential future quantum computer attacks. David Walker, Westpac’s Chief Technology Officer, described the initiative as “a real-world opportunity to learn and create something that will be incredibly important in the future, and something we might need to apply at scale.” Westpac maintains a long-term equity investment in Australian cybersecurity company QuintessenceLabs, which has developed quantum-enhanced cryptography solutions already deployed in defense and large organization applications. Walker stated that “creating the next generation of payments architecture requires the strategic involvement of all the banks, telcos, retailers and governments working together.” The Australian Securities and Investments Commission has granted regulatory relief to facilitate the testing, with project findings expected in the first quarter of 2026. Global Financial Institutions Accelerate Blockchain Infrastructure Development Chainlink has positioned itself at the center of a potential $260 trillion market opportunity through partnerships with major financial institutions to unlock the untokenized assets market via its Cross-Chain Interoperability Protocol. Earlier this year, Chainlink partnered with Abu Dhabi Global Market to develop blockchain standards and explore tokenization frameworks within regulated environments. RedStone’s market analysis also reveals that the tokenized real-world assets market reached $24.31 billion by June 2025, driven by a 260% surge from $8.6 billion at the start of the year, with private credit claiming more than half of the total market value at $14 billion. 📢 #Tokenized #RWA space has reached an ATH of $24.31 billion, moving from a “buzzword into a multi-billion-dollar financial system,” per @redstone_defi , @gauntlet_xyz , and @RWA_xyz . #crypto #blockchain https://t.co/bdsQCS4mwd — Cryptonews.com (@cryptonews) June 26, 2025 Notably, Australia’s approach contrasts with the restrictive stances some of its major banks have taken toward crypto platforms, with the National Australia Bank blocking payments to certain crypto exchanges in 2023, citing concerns about scams. Project Acacia’s focus on regulated institutional applications could generate AU$19 billion annually in economic gains, according to Professor Talis Putnins from the Digital Finance Cooperative Research Centre. Organizers have described Australia’s real-money settlement testing on third-party platforms as a world-first for the country in the digital finance industry.

2025/07/17

Why Is Crypto Up Today? – July 17, 2025

The crypto market is up today, with individual coins – particularly in the top 10 category – seeing notable increases. 90 of the top 100 coins per market cap have appreciated over the past 24 hours. That said, the cryptocurrency market capitalization has decreased by 2% to $3.88 trillion. Nonetheless, the total crypto trading volume is at $240 billion. These levels have remained similar for the past three days. TLDR: The crypto market is still increasing, with 90 of the top 100 coins rising; BTC is unchanged, standing at $118,085; ETH is the top 10’s best performer, trading at $3,425; Market sentiment remains firmly in the greed zone; US BTC and ETH spot ETFs recorded positive flows, with the latter breaking records; The market has just entered into a near-term overheated condition; ”Where the institutional money flows, innovation follows”; ”Innovations within Bitcoin DeFi are laying the groundwork for Bitcoin transformation.” Crypto Winners & Losers At the time of writing, all the top 10 coins per market cap are green. Most increased above 3.5%. However, Bitcoin (BTC) is currently up only 0.1%, meaning that the price has remained the same, standing at $118,085. It’s the smallest increase in the category. At the same time, Ethereum (ETH) saw the highest increase in this category yet again. It’s consistently outperforming its peers in this metric. It’s up 9%, currently trading at $3,425. XRP (XRP) is the second-highest gainer. It’s up 7.7% to the price of $3.15. In the top 100 coins category, four saw double-digit rises, three of which above 20%, and the fourth being very close. Floki (FLOKI) is up 35.7%, now changing hands at $0.0001294. This is followed by Curve DAO (CRV)’s 24.5% to $1.01. On the other hand, yesterday’s winner Pump.fun (PUMP) dropped the most today. It’s down 18.6% to $0.005329. Pudgy Penguins (PENGU) saw the only other double-digit fall. The rest of the red coins are down by less than 3% each. The market has continued the rally on the accelerating institutional interest, as well as favorable regulatory developments in the US, with three pieces of crypto legislation moving to the next step of approval. Notably, eyes are now on ETH’s performance, as the price is making its way towards that key $4,000 mark. $ETH making a pure Bull Flag. This is not like memes and other hype coins Zoom in Zoom out and you’ll see bigger picture. ETH is so real close to breaking out. You know my magic number ~ $4,000. ETH/BTC breaking $16K and we all remember what came after +300% straight final… pic.twitter.com/iXvo1ZWJfy — Henry (@LordOfAlts) July 16, 2025 Meanwhile, the U.S. House of Representatives voted to pass a procedural motion that allows the GENIUS stablecoin bill, the Digital Asset Market Clarity Act, and the Anti-CBDC Surveillance State Act to proceed to final votes. The GENIUS Act already passed the Senate in June with bipartisan support. It could land on the president’s desk this week. BREAKING: 🇺🇸 US HOUSE JUST PASSED #BITCOIN AND CRYPTO BILLS REVOTE ON MOTION HERE WE GO!!! pic.twitter.com/bfC9pIXhEV — Vivek⚡️ (@Vivek4real_) July 16, 2025 However, Congresswoman Maxine Waters argued that these three pieces of crypto legislation would create “ a casino for crypto billionaires to make more profits .” “These bills throw hardworking Americans under the bus, putting them at risk for a future financial crisis—all to legitimize Donald Trump’s crypto scams,” Waters said. ‘Where Institutional Money Flows, Innovation Follows’ According to Glassnode , Bitcoin’s latest consolidation phase saw heavy accumulation in the $93,000–$97,000 and $104,000–$110,000 zones. “Breaking above these dense supply clusters may now establish strong support, forming a potential foundation for future market pullbacks,” the report says. Bitcoin now enters a new phase of price discovery. At the same time, the majority of the supply is held in profit. Notably, Glassnode says, while there is still potential for another leg higher, “the market has just entered into a near-term overheated condition.” Source: Glassnode Meanwhile, Dom Harz, co-founder of Layer-2 BOB , noted a surge in interest from institutions building out Bitcoin treasuries. That said, “as the infrastructure matures and innovation thrives, Bitcoin is poised to become far more than a store of value.” Innovations within Bitcoin DeFi are laying the groundwork for this transformation, Harz says. This will enable institutions to hold Bitcoin, but also to put the coins to work through DeFi applications. “The next chapter for Bitcoin, and indeed digital assets, moves past price speculation and towards genuine utility opportunities. And where the institutional money flows, innovation follows.” Harz also commented on the current Crypto Week happening in the US, describing it as a historic moment for Bitcoin and crypto in general. He continues: “With BTC breaking past $122,000 over the weekend, a new all-time high, the price is reflecting the convergence of increased institutional inflows, growing confidence in digital assets as foundational infrastructure, and importantly, a call for regulatory clarity.” Therefore, Crypto Week shows “a consolidated push towards alignment on a framework that empowers innovation through clarity; the kind of innovation that will unlock blockchain’s true potential. Bitcoin DeFi, in particular, remains the industry’s greatest opportunity,” Harz concludes. Levels & Events to Watch Next At the time of writing, BTC trades at $118,085. Yet again, the coin saw choppy 24 hours of trading. It began this period with $118,186, rising to the daily high of $120,008. It has been decreasing since, however, moving back towards the intraday low. The market watchers are now waiting for the price to reestablish itself within the $120,000 territory and hold it. Bitcoin Price Chart. Source: TradingView Moreover, Ethereum is currently trading at $3,425. Its rise has been steadier than BTC’s over the past day. It started at $3,162, decreased slightly to the intraday low of $3,148, before rising to its current level, which is also its daily high. Notably, the next major upside targets are $3,454 and $3,757. However, market participants are also eyeing the $4,000 mark, which has now entered the realm of possibility. Additionally, ETH surpassing the $3,280 mark for the first time since February placed it less than 10% away from breaking out of a four-year channel that restrained it from reaching its ATH of $4,891, recorded in 2021. Meanwhile, the crypto market sentiment still stands firmly in greed territory. The Fear and Greed Index increased from 68 yesterday to 70 today . It suggests a willingness to invest and a positive view of the market. Further increases could suggest that the market is becoming overbought. Source: CoinMarketCap Furthermore, on 16 July, the US BTC spot exchange-traded funds (ETFs) saw additional positive flows. This marks the tenth day in a row. Inflows reached $788.4 million , nearly double than a day before. Moreover, this is the record-high amount, significantly surpassing the previous $428.44 million. With that, the total net inflows hit $6.48 billion. BlackRock saw the highest share of this amount again, recording $763.89 million. Ark & 21 Shares , Fidelity , and Grayscale account for the rest. Source: SoSoValue At the same time, US ETH ETFs saw positive flows for the ninth day in a row, recording a whopping $726.74 million on 16 July. Of this amount, BlackRock recorded $499.25 million, and Fidelity took in $113.31 million. Six other funds saw inflows. There were no outflows again. Source: SoSoValue Meanwhile, Tom Lee, chief investment officer at Fundstrat and chairman of Bitmine Immersion Technologies , argued that the growth of stablecoins, in addition to Wall Street’s tokenization of real-world assets, is fueling interest in the Ethereum blockchain . Moreover, Ethereum has seen increased transaction activity as investor interest grows. 3/ Head of Digital Assets for Fundstrat @SeanMFarrell notes that transaction activity picking up on ethereum data from @TheBlock__ $BMNR @BitMNR pic.twitter.com/5frs6rhWNr — Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) July 15, 2025 Meanwhile, Senator Cynthia Lummis commented on the recent reports that the U.S. is holding about 85% less in its Bitcoin Reserve than previously thought. “I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves – leaving just ~29,000 coins,” Lummis said. “If true, this is a total strategic blunder and sets the United States back years in the Bitcoin race.” Quick FAQ Why did crypto move with stocks today? The crypto market has increased over the past 24 hours, and the US stock market rose on Wednesday as well. The S&P 500 is up by 0.32%, the Nasdaq-100 increased by 0.1%, and the Dow Jones Industrial Average rose by 0.53%. This comes after the US president said it was “highly unlikely” that he would dismiss Federal Reserve Chair Jerome Powell. Is this rally sustainable? For now, yes. Recent developments have created room for the rally to continue. Short-term pullbacks will certainly continue as well. You may also like: (LIVE) Crypto News Today: Latest Updates for July 17, 2025 Ethereum has surged past the $3,300 mark, currently trading at $3,339.13 after a strong 20% weekly gain. XRP is holding firm at $3.05, up 5% in the past 24 hours, while Bitcoin inches up to $120,000, maintaining its dominance. Solana sits at $170.39, nearly 5% up. The market's green momentum signals that altcoin season may be fully underway, with capital rotating into top-layer 1s and major tokens beyond Bitcoin. But what else is happening in crypto news today? Follow our up-to-date live...

2025/07/17

UK Crime Officer Jailed for Stealing 50 Bitcoins Worth £4.4M During Silk Road Investigation

A former National Crime Agency officer has been sentenced to five-and-a-half years in prison for stealing 50 Bitcoins worth £4.4 million ($5.9 million) from evidence seized during a Silk Road investigation , using cryptocurrency mixers to launder the funds through multiple transactions over four years. Paul Chowles, 42, was part of the NCA team investigating organized criminal networks on the dark web marketplace Silk Road and its successor, Silk Road 2.0. Paul Chowles source: cps.gov.uk How He Got Access to the Funds In the First Place According to a report from CPS, Chowles led the analysis and extraction of cryptocurrency from devices seized from Thomas White, the co-founder of Silk Road 2.0, who was sentenced to 64 months in prison in April 2019. Between May 6 and 7, 2017, Chowles transferred 50 of the 97 Bitcoins seized from White’s “retirement wallet” to public addresses in two transactions. The stolen cryptocurrency was then processed through Bitcoin Fog, a notorious mixing service used to launder criminal proceeds and obscure transaction trails. The officer converted the Bitcoin to pounds sterling and spent the funds using Cryptopay and Wirex debit cards over several years. He made 279 transactions totaling £23,309 with the Cryptopay card and spent £79,885 through the Wirex account between August 2021 and July 2022. At Liverpool Crown Court, Chowles pleaded guilty to theft, transferring criminal property, and concealing criminal property. The Crown Prosecution Service calculated that he benefited financially to the value of £613,147 through his criminal activities, though the stolen Bitcoin was worth only £59,409 at the time of theft. Silk Road Co-Founder Exposes Internal Theft The theft remained undetected for years as the NCA investigation team initially assumed White had somehow accessed his wallet and removed the Bitcoin himself. By late 2021, the missing cryptocurrency had been deemed untraceable by authorities. White, who had been convicted and faced Proceeds of Crime Act proceedings with a confiscation order of £1,560,506, noticed the unauthorized transfer and informed police. He stated that only someone within the NCA could have accessed his cryptocurrency wallet since they possessed the private keys. The NCA sold the remaining 47 Bitcoins to fulfill part of White’s confiscation order, leaving £1,066,956 outstanding. Merseyside Police assumed responsibility for managing White in the local area following his release on licence in early 2022 after completing his custodial sentence. During a meeting between Merseyside Police and NCA counterparts to discuss the White investigation, officers learned about the stolen Bitcoin. Chowles attended this meeting, where the theft was discussed openly among law enforcement personnel. Merseyside Police launched an investigation into the missing cryptocurrency and arrested Chowles in May 2022. Officers recovered an iPhone linking him to accounts used for Bitcoin transfers, along with browser search history related to cryptocurrency exchange services. Evidence Trail Reveals Systematic Cryptocurrency Laundering Police discovered several notebooks in Chowles’ office containing usernames, passwords, and statements relating to White’s cryptocurrency accounts. The notebooks provided crucial evidence of his access to the seized digital assets and his systematic method of theft. Notably, Blockchain analytics firm Chainalysis also assisted in tracking the movement of funds through various exchanges and mixing services. The company’s tools identified how portions of the stolen Bitcoin were converted to cash at exchanges and loaded onto crypto-enabled debit cards for easier spending. The timing of the theft coincides with broader scrutiny of government Bitcoin sales and seizures. The U.S. Department of Justice received approval in December 2024 to sell 69,370 Bitcoins , worth approximately $6.5 billion, seized from Silk Road. However, President Trump’s administration had proposed creating a Strategic Bitcoin Reserve instead of liquidating seized assets. 🇺🇸 Senator Cynthia Lummis took to X Wednesday after reports emerged that the U.S. may not hold as much Bitcoin in its reserve as believed. #CynthiaLummis #BitcoinReserve https://t.co/FWyTqWqIIG — Cryptonews.com (@cryptonews) July 16, 2025 Ross Ulbricht, the founder of the original Silk Road, received a full presidential pardon in January 2025 after serving over a decade in prison. His case became one of the most high-profile prosecutions in cryptocurrency history, processing over 1.5 million transactions worth $213 million in Bitcoin. The Crown Prosecution Service has indicated it will pursue confiscation proceedings against Chowles to recover the remaining financial benefit from his criminal activities.

2025/07/17

[LIVE] Crypto News Today: Latest Updates for July 17, 2025 – Altcoin Mania is Here, ETH Crosses $3.3K, XRP Holds Above $3

Ethereum has surged past the $3,300 mark, currently trading at $3,339.13 after a strong 20% weekly gain. XRP is holding firm at $3.05, up 5% in the past 24 hours, while Bitcoin inches up to $120,000, maintaining its dominance. Solana sits at $170.39, nearly 5% up. The market’s green momentum signals that altcoin season may be fully underway, with capital rotating into top-layer 1s and major tokens beyond Bitcoin. But what else is happening in crypto news today? Follow our up-to-date live coverage below.

2025/07/17

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Why Is Crypto Up Today? – July 17, 2025

UK Crime Officer Jailed for Stealing 50 Bitcoins Worth £4.4M During Silk Road Investigation

[LIVE] Crypto News Today: Latest Updates for July 17, 2025 – Altcoin Mania is Here, ETH Crosses $3.3K, XRP Holds Above $3

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