marketmoves

₿ Crypto Brief

🎯 GENIUS Act signed; Solana ETF review fast-tracked; Bitcoin, Solana hit record highs; TradFi ramps crypto.

🔸 U.S. Congress passed the GENIUS Act, the first federal stablecoin law; Senate released a draft digital asset framework.

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🔸 SEC accelerated spot Solana ETF review, with amended S-1 filings due July 31.
🔸 Solana $SOLUSD overtook Binance Coin in market cap ($107B+), broke $200, and led in NFT, futures, and tokenized stock volumes.

🔸 Bitcoin $BTCUSD hit an all-time high of $123,000, holding above $117,000; SpaceX moved $153M in BTC internally after three years of inactivity.
🔸 MicroStrategy $MSTR bought 6,220 BTC ($739.8M), now holds 607,770 BTC; announced $500M STRC preferred IPO for more BTC buys.

🔸 Trump Media allocated $2B to Bitcoin $BTCUSD, making BTC 66% of its liquid assets post-SEC fundraise.
🔸 JPMorgan $JPM is considering direct Bitcoin $BTCUSD/Ethereum-backed loans; PNC partnered with Coinbase $COIN for customer crypto trading.

🔸 Polymarket acquired CFTC-licensed QCEX for $112M to relaunch regulated U.S. prediction markets.
🔸 Pump Fun’s $PUMP $$PUMP token dropped 47% below ICO price despite $10.2M weekly DEX fees; BONK market cap doubled.
🔸 FBI closed its investigation into Kraken co-founder Jesse Powell, returning seized devices.

...and that's the update for today. 🏁

🔸 Telegram rolled out TON Wallet to 87M U.S. users, enabling in-app crypto transactions and DeFi access.
🔸 Western Union $WU plans to add stablecoin on/off-ramps to its digital wallets for global remittances.
🔸 Ethena’s StablecoinX raised $360M, will list on Nasdaq, and is buying $260M in ENA tokens.

🔸 Ethereum $ETHUSD raised its L1 gas limit by 25% to 45M; stablecoin float on Ethereum hit $140B, nearly doubling in 18 months.
🔸 Dynamix and The Ether Reserve merged to form The Ether Machine, listing on Nasdaq with $1.5B in ETH treasury.