Bitcoin has failed to set a new all-time high in the past seven days, primarily due to Donald Trump’s announcement about new tariffs to be imposed on several countries from August 1st. While Trump’s tariffs have been the most discussed topic, other crypto-related developments have also captured the attention of traders and investors. They include:
Ripple Files for US Banking License
Last Wednesday, The Wall Street Journal reported that crypto company Ripple was looking to secure a license from the US Office of the Comptroller of the Currency to operate as a national bank. The following day, Ripple’s boss, Brad Garlinghouse, took to X to confirm the report. He also claimed that the approval of the license would grow the stablecoin market, as more companies would be open to adopting stablecoins.
We Expect Bitcoin to Rally to $135k This Quarter, Says Standard Chartered Analysts
Analysts at Standard Chartered are bullish on BTC for the next six months, citing growing institutional demand for the asset and increased inflows into exchange-traded funds (ETFs). They expect Bitcoin to peak at $135,000 in quarter three (Q3) and then close the year trading above $200,000.
Standard Chartered says the historical halving trend, where Bitcoin’s price drops 18 months after the halving event, will be broken this year as it expects the coin to rise higher in October.
FTX Requests Court to Halt Payouts in Restricted Regions
Collapsed crypto exchange FTX is seeking the court’s permission to stop repaying creditors in regions with restrictive crypto policies. The attorneys of the fallen company argue that sending crypto payments to creditors in the 49 listed countries could trigger penalties and fines, causing FTX to lose more money.
Fake Solana Bot on GitHub Drains User Accounts
On Friday, blockchain security company SlowMist revealed that a Solana trading bot on GitHub has been stealing funds from users. The bot, hosted by a developer named ‘zldp200,” featured malware that harvested user credentials, including private keys. SlowMist said on Saturday that the trading tool was deleted from GitHub following the exposé.
UAE Authorities Arrest WhiteRock Founder Over His Involvement in a $30M Scam
Onchain detective ZachXBT reported on Thursday that the United Arab Emirates (UAE) had arrested the founder of WhiteRock Finance, Ildar Ilham, for allegedly stealing $30 million from investors through his ZKasino project.
ZachXBT explained that Ilham, who launched ZKasino in April 2024, encouraged users to invest in the project in exchange for an airdrop of the project’s native token. However, he failed to honour his promise and never refunded affected users.
Analyst Says DOGE Price Could Hit $0.25 Soon
Although Dogecoin has traded sideways in recent months, it is still among the most traded digital assets based on the trading volume data on CoinGecko. According to pseudonymous cryptocurrency analyst Trader Tradigrade on X, most traders are focused on DOGE as they anticipate a rally to the $0.25 psychological level, following the formation of a double bottom pattern.
Trader Tradigrade notes that Dogecoin’s price is moving toward the resistance line on the descending channel, suggesting a possible bullish breakout, with the buyers targeting $0.25.
Scam Victim Who Blamed Citibank for Failing to Block Fraudsters Targets Two Other Banks
Michael Zidell, the crypto romance scam victim who filed a lawsuit against Citibank in June, accusing the financial institution of failing to detect and block fraudsters’ activities, has leveled similar accusations against Cathay Bank and East West Bank. He argues that the two banks failed to stop 31 fund transfers amounting to $16.7 million made to the accounts of the alleged scammer.
Winners and Losers
At the time of writing, Bitcoin is changing hands for $108,984, up 2.4% over the last seven days. Meanwhile, the second-largest cryptocurrency by market valuation, Ethereum, is priced at $2,573 after a 7-day rally of 4.4%.
The top three gainers according to CoinGecko data are XDC Network (12.6%), Celestia (16.3%), and Bonk (63%). On the other hand, three coins with the biggest losses include Algorand (6.6%), Sei (11%), and Tokenize Xchange (38.4%).
