This week in crypto saw stunning headlines spanning dramatic market plays, regulatory turning points, political token drama, hacks, and a fresh look at Bitcoin’s biggest whales. Here’s your concise rundown of the most significant events moving the sector.
SharpLink Gaming, a NASDAQ-listed sportsbook marketing firm, acquired nearly $49 million in Ether (ETH) as prices crossed the $3,000 level. Firmly establishing itself as the largest known corporate Ether treasury, SharpLink now controls over 198,300 ETH (worth about $608 million), surpassing even the Ethereum Foundation. This move shows that more companies are starting to see Ether as a valuable asset to keep in their reserves. The company’s board, chaired by Ethereum co-founder Joseph Lubin, views large ETH treasuries as crucial for ecosystem growth.
In a gripping developing story, Julia DeLuney stands accused of murdering her mother in Wellington after allegedly stealing over $85,000, much of it invested in cryptocurrency. Prosecutors detailed a scheme involving fake profit statements, systematic cash withdrawals, and transactions targeting crypto platforms. The case has led to new rules across the country, such as banning crypto ATMs and putting tighter limits on cash transfers. Authorities warn the public about the evolving nature of crypto-related scams and the escalating criminal exploitation of digital assets.
On July 18, 90 million TRUMP tokens worth almost $900 million were unlocked, boosting the total number of tokens in circulation by 45%. The event coincided with lively policy debates in Congress, as the House passed the Digital Asset Market Clarity Act, advancing federal regulatory frameworks aimed at distinguishing tokens as either securities or commodities. Despite bipartisan support, critics argue that more robust investor protections and oversight are needed.
The rapid rise of Bitcoin ETFs has led to a notable shift away from self-custody. The number of new Bitcoin addresses being created has dropped, while more people and businesses are choosing to keep their BTC with institutions like ETFs, companies, and pension funds. BlackRock’s IBIT ETF became the fastest in history to reach $80 billion in assets. This signals deeper integration of Bitcoin into traditional financial infrastructure, but provokes discussion over diminishing individual sovereignty.
Exchanges like Binance and Robinhood remain the largest holders of Bitcoin, while corporations such as Strategy now own nearly 600,000 BTC. The U.S. government also features prominently with its sizable Bitcoin stash. The list shows that big institutions are holding more Bitcoin, and new crypto billionaires are emerging as old coins become active again and demand for ETFs keeps growing.
Indian exchange CoinDCX was hit by a major cyberattack, losing $44 million after hackers broke into one of its backend operational accounts. Executives stressed that customer funds were unaffected, highlighting that only treasury assets were compromised, nonetheless underscoring continued vulnerabilities in crypto security regimes.
James Wynn grabbed attention with his huge leveraged trades, making 25 times his money on ETH and 10 times on PEPE. His strategic positions showed impressive timing, sparking discussions about high-risk crypto trading and potential profits during market volatility.
