In the wake of the GENIUS Act, the U.S. has provided a clear legal framework for stablecoins, sparking a surge of interest from users and builders. However, the challenge now lies in making blockchain technology usable and accessible for the average business or individual. As the perception of legal risk diminishes, users will demand systems that outperform traditional alternatives in terms of speed, cost, reliability, and transparency. The task now is to make Web3 usable, scalable, and relevant to ensure the stablecoin moment is not wasted.
Meanwhile, Bitcoin miners' profits have reached their highest monthly mark since the last halving in April 2024, largely due to the rise in the price of Bitcoin. However, increased operational costs and mining difficulty, coupled with lowered rewards for verifying transactions on the blockchain, pose ongoing challenges.
In other news, despite a 17% drop in Coinbase's stock following its second-quarter earnings report, analysts remain optimistic about the crypto exchange's future performance. Strategic partnerships, acquisitions, and expansion beyond crypto-only services could help it regain its footing and broaden its customer base.
Finally, the Ethereum network has announced significant developments, including an increase in transaction speed and the ability for users to run a full Ethereum node on their smartphones. As Ethereum is increasingly used for real-world utility by businesses and individuals, the demand and value of the ecosystem are expected to grow.
The following article summaries have been sourced from Decrypt, CryptoSlate, NewsBTC, and Crypto Briefing. Each summary includes a direct link to the original source.
The recent enactment of the GENIUS Act has provided a clear legal framework for stablecoins, marking a significant milestone for the crypto industry. The Act, which received bipartisan support and was signed into law in mid-July, mandates dollar or dollar-equivalent reserves, registered issuers, and AML compliance for stablecoins. This development has sparked a surge in interest from users, builders, and business leaders who are eager to understand the implications of the Act and the potential of stablecoins in the U.S. financial system.
However, the excitement surrounding the GENIUS Act and the legalization of stablecoins is tempered by the persistent issues of usability and accessibility in the Web3 space. Despite the legal green light, blockchain technology remains largely unintelligible and unusable for the average business or individual. The next wave of users, who are interested in the practical applications of stablecoins such as faster money transfers, automated agreements, and reduced friction in global workflows, are likely to be deterred by the complexity of the current ecosystem.
The real challenge, therefore, lies not in regulatory compliance but in functionality. The blockchain industry needs to develop systems that are not only capable of recording and verifying state but can also adapt to changing conditions and act accordingly. This requires the creation of programmable infrastructure that can bridge the gap between policy wins like the GENIUS Act and actual user adoption. As the perception of legal risk diminishes, users will demand systems that outperform traditional alternatives in terms of speed, cost, reliability, and transparency. The task now is to make Web3 usable, scalable, and relevant to ensure the stablecoin moment is not wasted.
Bitcoin miners' profits reached their highest monthly mark since the last halving in April 2024, according to a report by JP Morgan analysts Reginald L. Smith and Charles Pearce. The report revealed that miners earned an average of $57,400 per EH/s in daily block reward revenue in July. This profitability surge was largely due to the rise in the price of Bitcoin, which hit a record high of $122,838 in July. Despite the price retreating slightly, it has remained within about 8% of that high point.
However, the report also highlighted the ongoing challenges faced by miners, such as increased operational costs and mining difficulty, coupled with lowered rewards for verifying transactions on the blockchain. The daily revenue and gross profit per EH/s are 43% and 50% below pre-halving levels, respectively. Mining difficulty increased by 9% over the month. Furthermore, the number of tokens that the top 11 miners have added cumulatively declined in four of the first six months of the year. Despite these challenges, MARA Holdings, the world's largest miner, reported $238 million in second quarter revenue, a 64% increase from a year prior, and a record net income of $808 million.
Despite a 17% drop in Coinbase's stock following its second-quarter earnings report, analysts remain optimistic about the crypto exchange's future performance. They believe that the company's strategic partnerships and acquisitions, as well as its expansion beyond crypto-only services, could help it regain its footing and broaden its customer base. These moves are expected to result in stronger financial results in the coming quarters, offsetting the impact of lower-than-expected revenue and weaker trading volumes reported for the second quarter.
Coinbase's recent initiatives include the acquisition of crypto-focused derivatives exchange Deribit, which will allow the platform to tap into the profitable derivatives market. The company also unveiled plans to become an "everything exchange," enabling trading of tokenized real-world assets, equities, derivatives, and early-stage token sales. This expansion beyond core services could diversify the company's revenue and reduce the impact of crypto trading volume dips on its revenue during market downturns. Furthermore, a partnership with J.P. Morgan will allow the bank's clients to link their accounts to Coinbase, potentially boosting the crypto exchange's customer base and bottom line.
Coinbase's new advertising campaign, "Everything Is Fine," offers a darkly humorous take on the state of the UK in 2025, focusing on issues such as inflation, the housing market, and economic instability. The campaign, created in partnership with the agency Mother and directed by Steve Rogers, uses stark, comical imagery to depict the fragility of financial security and the disconnect between official reassurances and lived experiences. Unlike many crypto ads, it doesn't promise technological utopia or imminent wealth, but instead taps into the everyday anxieties facing consumers.
The ad also comments on the exodus of high-net-worth individuals from the UK, with an estimated 16,500 millionaires leaving the country in 2025, according to Henley & Partners. This figure marks the steepest annual increase in millionaire outflows ever recorded. The campaign has been well-received, with Peter McCormack, former host of the What Bitcoin Did podcast, congratulating Coinbase CEO Brian Armstrong on the campaign. The ad represents a shift in crypto advertising, moving away from technical explanations of blockchain to a more human approach that reflects culture and uses storytelling to build trust.
At the recent ETHKyiv 2025 event, Ethereum founders Vitalik Buterin and Tomasz K. Stańczak unveiled two significant developments for the Ethereum network. Firstly, they announced that Ethereum's Layer 1 (L1) will be able to handle 400 transactions per second (TPS) by the end of 2025. Secondly, they revealed that users will soon be able to run a full Ethereum node on their smartphones, a development made possible by the implementation of zero-knowledge Ethereum Virtual Machines (zkEVMs) by the Ethereum Foundation. These zkEVMs make nodes significantly lighter by verifying transactions without revealing or importing any information about them.
Stańczak also detailed that Ethereum will move to a 3-Slot Finality (3SF) by the end of 2026, reducing the average transaction confirmation time from 15 minutes to just 36 seconds. This will provide users with the experience of instant traditional digital payments while maintaining the benefits of decentralization. Buterin and Stańczak both emphasized the importance of privacy, data protection, and transparency for Ethereum's value and mass adoption. They believe that as Ethereum is increasingly used for real-world utility by businesses and individuals, the demand and value of the ecosystem will grow. Buterin also highlighted the potential for Ethereum to act as the infrastructure for real-world assets, such as tokenized stocks and bonds, which could drive mass adoption.
The ETHKyiv 2025 event, held amid war-related risks, provided developers with insights from influential Ethereum builders. Despite the challenging circumstances, the Ukrainian tech community demonstrated resilience and commitment to innovation. The event served as a testament to the strength of community, curiosity, and shared values, even in times of conflict.
The Bitcoin community is buzzing with the news of the return of the "Bitfinex whale", a powerful, unknown entity known for accumulating Bitcoin at a staggering rate. Blockstream CEO Adam Back reported that the whale has been purchasing approximately 300 BTC per day over the past 48 hours. The sustained activity of this whale, particularly one associated with Bitfinex, is viewed as a potential market-moving signal. Large, methodical buys over time can absorb significant supply, causing an upward pressure on price or stabilizing the market during volatility. This type of whale behavior has been seen before large bullish moves in previous cycles, as well as short-term volatility when whales alter or exit positions.
However, not everyone views this whale's activity as a positive sign. Some argue that Bitfinex whales tend to buy during downtrends and sell during uptrends, adding both buying support in downturns and potential resistance during rallies. On-chain data suggests that when whales accumulate at this scale, it usually indicates strong hands preparing for the next price move, or smart money stepping in to absorb panic selling. With supply on exchanges at record lows and institutional interest on the rise, continuous spot buying from traders like the Bitfinex whale could fuel both a relief rally and long-term supply squeeze. Yet, it's important to note that whale accumulation doesn't guarantee a straight upward trajectory. Traders will be closely watching for signs of a trend reversal or major move.
Bitcoin's recent drop below the critical $115K level has sparked a divide among analysts and investors. Some view this as a healthy retracement that could set the stage for a broader uptrend, while others warn that it could signal the start of a more extended bearish phase. Adding to the uncertainty is a significant shift in exchange activity. Data reveals that Bitcoin inflows to Binance, the largest global crypto exchange by volume, have been steadily rising since early July, reversing a prolonged downtrend that had been in place since March. This uptick in inflows could be a crucial indicator of shifting investor behavior, potentially signaling an upcoming wave of selling or portfolio rebalancing.
Bitcoin inflows to Binance have increased from approximately 5,300 BTC daily in early July to 7,000 BTC today. This change suggests that investor behavior is shifting, potentially signaling adjustments in market strategies as traders and institutions respond to evolving market dynamics. Binance serves as a critical barometer for overall market sentiment, with fluctuations in Bitcoin inflows often mirroring broader structural moves within the crypto market. While the magnitude of inflows isn’t alarmingly high yet, the consistency of this rise demands attention. The market is watching closely to see whether this signals a temporary adjustment or the start of a broader trend.
Bitcoin is currently trading at $112,477 after breaking down from its two-week consolidation range. The price lost the crucial $115,724 support, which now flips into immediate resistance. This breakdown marks a significant shift in momentum, with BTC testing the 100-day simple moving average (SMA) at $114,944, which failed to hold. The next key support zone lies near the 200-day SMA at $110,348, a level that could become pivotal for bulls attempting to regain control. Despite the bearish short-term outlook, bulls still have a chance to reclaim momentum if they can swiftly push BTC back above $115,724 and establish a consolidation above the 50-day SMA at $117,631.
Ethereum has experienced a significant correction following a rally that saw its price increase by over 85% since late June. After reaching a local high near $3,940, ETH has pulled back approximately 13%, causing analysts to debate whether this is a healthy consolidation or a shift in market momentum. Some analysts view the retracement as a natural pause after a rapid uptrend, while others warn that selling pressure and macroeconomic uncertainty could trigger deeper downside moves.
However, on-chain data from CryptoQuant shows that despite the recent price drop, a large amount of Ethereum has consistently been withdrawn from exchanges over the past few weeks. This trend suggests aggressive accumulation by investors moving their holdings into cold storage, reducing the liquid supply on trading platforms. Analyst Ali Martinez revealed that over 1 million Ethereum (ETH) have been withdrawn from exchanges in the past two weeks, indicating a strong accumulation trend among investors. This massive outflow reduces the liquid supply of ETH available for trading, which historically correlates with long-term bullish price action.
Ethereum is currently trading around $3,391 after a sharp correction from its recent high of $3,940. The 12-hour chart shows that ETH has broken below its short-term support and is now testing the 50-day SMA at $3,462, which could act as a near-term support level. If bulls fail to defend this zone, the next critical support is located around $2,852, a key level that previously acted as strong resistance in late June. Despite the drop, Ethereum’s price structure remains in an overall uptrend, with higher highs and higher lows intact on the broader timeframe.
The article from NewsBTC introduces Opeyemi, a proficient writer and enthusiast in the field of cryptocurrency. Despite not initially choosing the digital asset industry, Opeyemi has been captivated by the sector for over two years. He enjoys creating unique content that unravels the complexities of blockchain technology and shares insights on the latest trends in the crypto world. His interest in the market leads him to spend a significant portion of his day analyzing and interpreting various price patterns and chart formations.
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The Cardano community has given its approval for treasury funding to Input | Output Engineering (IOE) for significant protocol upgrades. Approximately 74% of voters backed the proposal, marking the first instance of community-authorized core development funding for the blockchain network. The approved funding is earmarked for major improvements in scalability, developer experience, and interoperability. Key developments include Ouroboros Leios for increased throughput, Hydra for faster and cheaper transactions, Mithril enhancements for reduced bootstrap times, and Project Acropolis for modular node architecture.
Tim Harrison, EVP Community & Ecosystem at Input | Output, hailed this as a "milestone moment for Cardano," emphasizing the importance of community funding for core protocol development. The funding structure will be based on milestones, with releases dependent on verified delivery. IOE will provide monthly updates, engineering timesheets, and quarterly budget reports for community oversight. Ricky Rand, General Manager at IOE, stated that securing the funding is just the beginning and that the real work lies in delivering with integrity, reporting with transparency, and building with and for the community. IOE also plans to involve external vendors, particularly from the Cardano Developer Ecosystem Coalition, in future funding rounds to bolster decentralization.
A hacker who stole 127,426 Bitcoin from the Chinese mining pool LuBian in December 2020 still possesses the entire stolen stash, now valued at over $14.5 billion, according to a report from Arkham Intelligence. The theft, which was only recently uncovered, is not only the largest in crypto history but also one of the longest-concealed cases. LuBian, which controlled nearly 6% of Bitcoin's network hash rate in May 2020, has never publicly disclosed the breach. The hack occurred on December 28, 2020, with more than 90% of LuBian's BTC holdings being drained. Arkham suggests that LuBian used an insecure algorithm to generate private keys, making them vulnerable to brute-force attacks.
Following the attack, LuBian moved its remaining 11,886 Bitcoin, currently worth about $1.3 billion, to recovery wallets. The firm also broadcast messages across 1,516 Bitcoin transactions requesting the return of stolen funds, spending 1.4 Bitcoin in the process. The hacker's stash of 127,426 BTC remains untouched since a wallet consolidation in July 2024, while LuBian's holdings sit at 11,886 BTC. The unknown exploiter has climbed to 13th place among the top BTC holders, outranking the infamous Mt. Gox hacker.
The hack may explain why LuBian quietly disappeared from the Bitcoin network in early 2021. The firm's last known mining activity occurred on March 1, 2021. At the time, industry observers speculated the halt was linked to China's and Iran's clampdown on crypto mining. By September 2021, Chinese authorities issued a nationwide notice declaring crypto mining an "obsolete" industry, effectively enacting a total ban on both mining and trading.
Eric Trump has once again expressed his bullish stance on Bitcoin and Ethereum amidst the recent market volatility caused by tariff concerns. Trump, whose portfolio includes Bitcoin, Ethereum, Solana, and Sui, has been a vocal supporter of these cryptocurrencies, even encouraging investors to buy during the current market dip. This is not the first time he has shown confidence in these digital assets; in February, during a period of tariff-induced economic uncertainty, he had also recommended buying Ethereum and Bitcoin.
Despite Ethereum dropping to its lowest point since November 2023, it has since rebounded sharply due to increased corporate adoption and positive legislative headlines, reaching $3,900 earlier this week. However, renewed tariff threats have cooled the rally, with Ethereum trading around $3,500 and Bitcoin near $113,500 at the time of writing. Trump and his family's involvement in crypto extends beyond just holding these assets; they also back American Bitcoin, a mining firm that currently holds 215 BTC. Furthermore, World Liberty Financial, a DeFi venture backed by the Trump family, recently acquired 77,226 ETH at an average price of $3,294 per coin, although on-chain data suggests the firm may have sold part of its ETH stack at a loss in April.
