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Breaking News: The cryptocurrency market has surged by over $330 billion in the past 4 hours. 🚀🇺🇸

Justin Sun, the founder of Tron, has voiced strong support for the President's cryptocurrency strategy. He emphasized that Tron will stand as a loyal ally and fully back this initiative. 🇺🇸🗣 #TRX #Crypto

BREAKING: Bitcoin surges 10%, reaching $94,000 after President Trump announces the creation of a U.S. Crypto Reserve.

BREAKING: 🇺🇸 President Trump announces the creation of a "US Crypto Reserve," claiming it will boost the cryptocurrency sector after what he describes as "years of damaging actions by the Biden Administration."

Crypto bank Infini is exploited with hackers stealing over $49.5m to acquire 17,695 ETH at an average price of $2,798.

Pumpfun is developing its own automatic market maker (AMM), potentially enabling meme tokens to migrate from Raydium to its liquidity pool either to extract more fees or implement token holder rewards.

President Donald Trump's newly appointed FBI Director, Kash Patel, holds $115k in Bitcoin and $100k in Bitcoin miner Core Scientific stock.

The SEC has voluntarily dismissed its appeal in a case challenging its "dealer rule" on crypto and DeFi, which sought to apply securities laws to crypto liquidity providers with over $50m in capital.

Coinbase, a16z, Paradigm, Kraken, Uniswap, and other crypto market participants signed a letter urging the U.S. Congress to repeal the IRS rule requiring DeFi brokers to report user information.

The EU's MiCA regulatory framework has approved 10 entities to issue e-money tokens (EMTs) across five EU countries: France, Germany, Netherlands, Malta, and Finland. The approved entities include Circle (USDC), Societe Generale, and Crypto.сom. However, Tether (USDT) has been excluded from the list.

More key points:

⚫15 EMTs issued, comprising 10 euro-pegged and 5 dollar-pegged tokens
⚫11 MiCA-authorized Crypto-Asset Service Providers (CASPs) from 3 EU countries (Germany, Netherlands, Malta)
⚫0 issuers of asset-referenced tokens (ARTs)
⚫5 white papers for non-EMT/ART crypto-assets submitted

Argentine President Javier Milei is facing a fraud lawsuit from local lawyers after promoting a cryptocurrency that turned out to be a rug pull.

Milei posted on X about Libra, a coin he claimed was "encouraging economic growth by funding small businesses and startups." However, just hours later, the cryptocurrency collapsed, causing investors to lose millions. Milei then deleted his post.

Data revealed that 82% of LIBRA’s supply was concentrated in a single cluster.

Coinbase's Q4 2024 report showed revenue of $2.3bn, surpassing the expected $1.87bn and marking an 88% quarter-over-quarter (QoQ) increase.

The company reported a net income of $1.3bn ($4.68 earnings per share), including $476m in unrealized crypto gains. Trading revenue hit $1.6bn, up 172% QoQ, on a trading volume of $439bn.

Meme and AI token indices have fallen nearly 60% from December peaks, while U.S. and DeFi indices show more resilience, down 29% and 38% respectively.

Federal Reserve Chair Jerome Powell addressed the Senate Banking Committee with an update on monetary policy:

⚫The Fed sees no need to rush into rate cuts.
⚫Unemployment remains low.
⚫The labor market is stable and not a source of inflationary pressure.
⚫The U.S. economy remains strong.
⚫Inflation is approaching the 2% target but remains elevated.
⚫The Fed is well-prepared to navigate risks and uncertainties.
⚫Cutting rates too quickly could undermine progress in fighting inflation.
⚫Cutting rates too slowly could unnecessarily weaken economic activity and employment.
⚫Decisions on rates must consider macroeconomic data, changing outlooks, and risk balance.
⚫The Fed may keep rates at the current level if the economy stays strong and inflation does not reach 2%.
⚫The Fed carefully assesses risks related to its dual mandate (inflation and labor market).
⚫The Fed is committed to preventing the debanking of certain industries.
⚫The capital levels of major banks remain adequate.
⚫The U.S. Treasury maintains a secure payment system.
⚫The U.S. economy is not in a recession right now.
⚫The Fed has no authority to comment on trade policy or tariffs.
⚫U.S. law does not allow the president to remove the Fed chair.

After Powell's speech, market expectations shifted, with the first Fed rate cut now expected in July 2025, instead of May.

Fox reporter Eleanor Terrett reported that Binance and the SEC, under acting chair Mark Uyeda, have filed a joint motion to suspend the SEC’s case against Binance for 60 days, citing potential implications from the SEC’s new crypto task force.

After this period, both parties will submit a joint status report to determine whether to continue negotiations or further suspend proceedings. Similar cases involving Ripple, Coinbase, and Kraken may follow suit.

Tesla increased its Bitcoin holdings to 11,509 BTC as of December 31, 2024, according to a recent filing. The company added 1,789 BTC during the year, up from its previous total of 9,720 BTC.

The filing also revealed that Tesla spent $386m on Bitcoin, with the fair value of its holdings exceeding $1bn. This includes $600m in BTC profits in Q4 2024, driven by new accounting rules that allow companies to record digital assets at market value.

WazirX has released a preliminary list of creditors and balance sheet snapshots.

Creditors can now view a snapshot of their balances as of 1 PM (IST) on July 18, 2024, including token balances and deposits after this date.

Stablecoin USDC's market cap hit a new all-time high of $56.2bn, fully recovering from its two-year decline following the Silicon Valley Bank collapse in March 2023.

The Indian rupee has hit an all-time low against the U.S. dollar, falling to ₹0.011407 per USD.

Japan's App Store and Google Play store has blocked downloads for Bybit, Bitget, MEXC, KuCoin, and Bitcastle following a request from the Financial Services Agency (FSA) after its prior warning.

In November 2024, the FSA cited these exchanges for operating without registration and serving Japanese residents illegally. Under Japan’s 2017 law, only FSA-licensed exchanges can operate in the country.