WSJ "Trump Prepares Administrative Order to Punish Banks Discriminating Against Cryptocurrency"
The Wall Street Journal (WSJ) reported, citing sources, that the White House is preparing an administrative order to punish banks that discriminate against cryptocurrency companies (such as imposing fines). US President Donald Trump is expected to sign this administrative order as early as this week. The media explained, "Conservatives in the US have continuously pointed out that large banks have discriminatorily treated customers for political reasons. Cryptocurrency companies have also claimed that they have been restricted from banking services under the Biden administration. The draft administrative order has been confirmed to include provisions requiring banks to abolish all internal policies and practices that discriminate against specific customers."
US CFTC Announces Initiative to Allow Spot Cryptocurrency Product Trading on Registered Exchanges
Bloomberg reported that CFTC Acting Chair Caroline Pham announced an initiative to allow spot cryptocurrency product trading on Designated Contract Markets (DCM) registered with the CFTC. The CFTC had previously reported that it would initiate a 'Crypto Sprint' to clarify cryptocurrency regulations following White House recommendations.
US SEC Releases Internal Guidelines for 'Treating Specific Stablecoins as Cash'
Bloomberg reported that the US Securities and Exchange Commission (SEC) has released staff guidelines that certain stablecoins can be treated as cash, which could be interpreted as an interim measure for establishing cryptocurrency securities regulations. Since the appointment of Chair Paul Atkins, the SEC has been changing policies, such as abolishing existing regulations that blocked lending institutions from entering the cryptocurrency market. The guidelines reportedly include provisions that stablecoins pegged to the US dollar with sufficient reserves and guaranteed redemption can be treated as cash equivalents.
Stablecoin Rewards Potentially Bypassing US Regulations... Coinbase and PayPal Controversy
Decrypt reported that despite the GENIUS Stablecoin Regulation Law's provision prohibiting interest payments by stablecoin issuers, Coinbase and PayPal continue to pay interest to users. Coinbase CEO Brian Armstrong explained, "Coinbase is not a stablecoin issuer and provides 'rewards' rather than interest or returns. Currently offering 4.1% rewards to USDC US holders." PayPal is also providing 3.7% rewards to customers holding PYUSD, and CEO Alex Crish has reconfirmed the continuation of this service. PYUSD is issued by Paxos, not PayPal.
North Korean Hacking Organization Steals 2 Trillion Won in Cryptocurrency Through Fake Job Offers
Decrypt reported, citing Google Cloud and Wiz reports, that North Korean hacker groups infiltrated cloud systems using fake IT job offers and stole cryptocurrency worth $1.6 billion (2.2 trillion won) this year alone. The report explained that the hacker group used malicious open-source code in 2023 and accessed cryptocurrency exchanges through disguised job offers in 2024, being suspected as the primary perpetrator behind the DMM Bitcoin hack in 2024 and the Bybit hack in 2025.
BTC Spot ETF Experiences Consecutive 3-Day Net Outflow of 443.1 Billion Won
According to Trader T, $320 million (443.1 billion won) was net withdrawn from US Bitcoin spot ETFs on the 4th (local time). This marks the third consecutive trading day of net outflows. $290 million was withdrawn from BlackRock IBIT and $40.06 million from Fidelity FBTC. Conversely, $18.74 million was net inflow to Bitwise BITB.
Anonymous Whale Purchases $232 Million ETH in 24 Hours
Amber CN reported that an anonymous whale address purchased 63,838 ETH ($232 million) through Falcon X and Galaxy Digital in the past 24 hours. The address created three addresses through Bitgo, acquiring the volume at an average price of $3,640. According to CoinMarketCap, ETH is trading at $3,695.69, up 3.99% from 24 hours ago.
2 New Addresses Purchase $92.68 Million ETH
On-chain Lens reported that two newly created anonymous addresses purchased 24,968 ETH ($92.86 million). One address purchased 15,000 ETH and now holds a total of 39,294 ETH ($146.45 million), while another address purchased 9,968 ETH ($37.12 million). According to CoinMarketCap, ETH is trading at $3,711.31, up 6.14%.
14-Year Dormant Whale Transfers 108 BTC to Wintermute... Sell Signal?
On-chain analyst ai_9684xtpa reported that a 14-year dormant whale address transferred 108 BTC ($12.42 million) to a Wintermute-related address. The address test transferred 0.001 BTC to Wintermute 10 hours ago and currently holds 3,360 BTC ($390 million). Ai_9684xtpa diagnosed, "Expected to sell in large quantities soon."
Ethereum On-chain Transaction Volume Recovers, Approaching $240 Billion
The Block reported that Ethereum (ETH) network on-chain activity showed recovery last month, with total transaction volume approaching $240 billion, suggesting ecosystem revitalization. The recovery emerged from increased activity across Layer 2, DeFi, and other ecosystem sectors. The passage of the US Stablecoin Regulation Law GENIUS also influenced increased stablecoin trading volume. Many experts also forecast a high possibility of Ethereum showing recovery compared to the sluggish first and second quarters.
24-Hour Cryptocurrency Perpetual Futures Liquidation Scale
Recent 24-hour cryptocurrency perpetual futures liquidation scale and liquidation ratio are as follows:
ETH Liquidation Scale: $85.65 million, Liquidation Ratio: 73.07% Short
BTC Liquidation Scale: $25.05 million, Liquidation Ratio: 66.55% Short
SOL Liquidation Scale: $12.54 million, Liquidation Ratio: 68.91% Short
Anonymous Whale Re-enters Short Position After ETH Short Liquidation
An anonymous whale reportedly opened a 27,000 ETH (worth $100 million) 25x short position after a 30,000 ETH short position was forcibly liquidated earlier in the morning, according to MBN CN. The entry price is $3,637, and the liquidation price is $3,828.
Nexus, Resolves to Purchase BTC Worth 3 Billion Won in Q2 Results
According to Inven, Nexus (representative: Jang Hyun-guk) announced its Q2 2025 financial results. The second quarter revenue was approximately 9.3 billion won, operating profit was around 3 billion won, and net loss was about 19 billion won. Additionally, they adopted a treasury strategy of balancing Bitcoin (BTC) and stablecoins at a 50:50 ratio and resolved to purchase Bitcoin worth 3 billion won through a board meeting.
Fancy Conducts Test Issuance of Won Stablecoin with Initech
Social-AI blockchain project Fancy announced the completion of a test issuance of KRWIN, the first domestic won stablecoin, in collaboration with Initech. This is the first domestic digital asset issuance led by a private company, and KRWIN is expected to be used in various real-economy sectors such as content payment, tourism, and global remittances.
Nansen Supports Sui Network
Cryptocurrency data analysis company Nansen announced on X that it will support the Sui (SUI) network. Nansen explained that they will increase the SUI validator fees by 10% and reinvest all profits into SUI coverage and community tool development.
Cryptocurrency Investment Rapidly Emerging on Wall Street Instead of Private Equity
Bloomberg reported that hedge funds and cryptocurrency investment strategies are emerging as alternative investments on Wall Street. While private equity fundraising has decreased by 35% compared to the same period last year, hedge funds and cryptocurrency sectors are showing growth.
Web3 E-sports Fan Participation Platform Stan Raises $8.5 Million in Equity Investment
According to TechCrunch, India-based Web3 e-sports fan participation platform Stan has raised $8.5 million in new equity investment. Major investors include Google, Bandai Namco, Square Enix, Reason Holdings, and Aptos Labs.
Bonk Team Burns $8.05 Million BONK via Letsbonk Fees
The Bonk (BONK) team announced on X that they burned approximately 300 billion BONK (worth $8.05 million) from fees generated on the meme coin issuance platform Letsbonk.fun.
Howells Plans to Tokenize 8,000 BTC
James Howells, who accidentally discarded a hard drive containing 8,000 BTC (worth 1.28 trillion won) 12 years ago and recently abandoned its search, stated he will tokenize the BTC. He explained on X that he will issue 80 billion Sainio coins (INI) for the lost BTC, with plans to release the coin by the end of the year.
Metaplanet Opens BTC Goods Store
Japanese listed company Metaplanet, which has incorporated Bitcoin as its primary asset, announced the opening of its official goods store PlanetGear via X.
Solana Mobile Begins Seeker Smartphone Shipping
According to CoinTelegraph, Solana Mobile has started shipping its second smartphone, Seeker, to users in over 50 countries.
Binance Lists PROVE, Announces Hodler Airdrop
Binance announced on its official website that Sixsinct (PROVE) has been selected for its 31st Hodler Airdrop project. PROVE is scheduled to be listed on the 6th at 2:00 (Korean time).
Upbit Temporarily Suspends CRO and WAXP Deposits and Withdrawals
Upbit announced on its official website that deposits and withdrawals for Cronos (CRO) and WAXP will be temporarily suspended from 23:00 on August 7th due to wallet system maintenance.
BitSonic CEO Receives Additional 6-Month Sentence for Fraud
According to Digital Asset, the CEO of cryptocurrency exchange BitSonic, who is currently serving a 7-year sentence for a 10 billion won fraud case, has been sentenced to an additional 6 months for another fraud charge.
CME FedWatch Forecasts Over 90% Probability of September Fed Rate Cut
According to CME FedWatch, traders are forecasting a 94.4% probability that the Federal Reserve will cut rates by 25bp at the September FOMC meeting. The forecast has significantly increased compared to July 31st, about a week ago.
Altcoin Season Index at 43, Up 6 Points from Previous Day
The 'Altcoin Season Index' from cryptocurrency information platform CoinMarketCap recorded 43, up 6 points from the previous day.
Crypto 'Fear and Greed Index' at 60, Maintaining Greed Level
The self-calculated 'Fear and Greed Index' from cryptocurrency data provider Alternative recorded 60, down 4 points from the previous day, maintaining the greed stage.
