Unlike previous market cycles, where banks have predominantly avoided stablecoins and most other cryptocurrency assets, the sentiment is now towards broader acceptance. As key regulations continue to be reviewed, the adoption landscape is evolving. New Chapters Being Written The news of the plan was shared yesterday by Reuters, with the Bank of America (BOA) joining the ranks of various institutional bodies that have endorsed the stablecoin plan under President Trump’s crypto-friendly legislation. Brian Moynihan, the CEO and President of BOA, noted that “ investors can expect the lender to move forward with it, ” but did not disclose any information as to when this can be expected. Further speaking to analysts during a post-earnings call, the CEO’s approach appears to be cautious and calculated, as they are currently exploring customer demand, which is presently low. The groundwork will likely begin “ at the appropriate time ” and “ in partnership with other players, ” with Moynihan comparing current stablecoin adoption levels of the industry with those of payment platforms like Zelle and Venmo. “ We’ve done a lot of work, ” said Moynihan, hinting that this may have been in development for a while now, but with “ banks still awaiting legal clarity, ” the progress has been slower than some investors would have liked. The wait will likely not be very long, as the trio of anticipated legislation bills —CLARITY, GENIUS, and Anti-CBDC — were advanced to the House floor for debate and consideration after a 9-hour stall of the vote. After speaking with the President late on Wednesday, the House Speaker told reporters: “I’m pleased that we’ll be able to get this done. The president is as well. I just spoke with him, and this is a big priority for him, and it was for us.” A Change of Heart The widespread adoption and ongoing plans for stablecoins by central US banks are in stark contrast to how they were viewed not that long ago. For example, when the BOA’s lead was asked if they planned to incorporate cryptocurrency in their services during a past World Economic Forum, the answer was a straightforward “no.” Previously skeptical as well, the third-largest bank in the United States, Citigroup, is also considering issuing its own stablecoin. Vocal bitcoin critic – JPMorgan CEO Jamie Dimon, announced that the entity will also be entering the space, but without sharing any further details. The post Bank of America Enters the Stablecoin Race — CEO Makes It Official appeared first on CryptoPotato .
A closely followed crypto analyst says that a rare bullish signal is suddenly flashing again for one top-10 altcoin. In a new thread, crypto trader Ali Martinez tells his 141,000 followers on the social media platform X that XRP may have an explosive move as the payments altcoin’s Market Value to Realized Value (MVRV) metric is forming a golden cross. The last time the signal flashed bullish was in November 2024, when XRP exploded by triple percentage points. The MVRV metric gauges the market’s sentiment and valuation of a crypto asset. A golden cross occurs when the MVRV metric crosses above its 200-day moving average, signaling long-term bullish momentum. “The last time the MVRV ratio flashed a golden cross, XRP soared 630%. That signal just appeared again.” Source: Ali Martinez/X A 630% increase from XRP’s current value would put the token at more than $20. The analyst previously said XRP is primed to print new all-time highs, setting his initial target to the upside at $4.80. “XRP is screaming all-time highs. Are you seeing this? XRP is testing the top of the channel at $3. A weekly close above the $3 resistance could trigger a breakout to $4.80.” The analyst also says that crypto whales are accumulating massive amounts of the payment token. “Whales have bought 2.20 billion XRP in the last two weeks!” Source: Ali Martinez/X XRP is trading for $3.25 at time of writing, up 8.8% in the last 24 hours. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Rare Signal That Preceded 630% XRP Gain Has Just Flashed Again, According to Crypto Trader appeared first on The Daily Hodl .
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In a bold move, California Governor Gavin Newsom launched the “ California Breakthrough Project ,” which brings together Ripple, Coinbase, and other tech companies to help improve government efficiency using Web3. The project closely mirrors the goals of the Department of Government Agency (D.O.G.E.) , a government-focused body founded by Elon Musk, the founder and CEO of SpaceX and Tesla. Ripple Forms Alliance That Mirrors Musk’s D.O.G.E. A new X social media post by crypto journalist Eleanor Terrett confirms that California has officially partnered with Ripple and other leading crypto and tech firms, possibly replicating Musk’s D.O.G.E. initiative. The new task force aims to transform public services through blockchain and Web3 innovation. Governor Newsom announced the launch of the California Breakthrough Project in a press release on July 15. The newly formed task force held its inaugural meeting on June 6 at Ripple’s San Francisco headquarters, bringing together top figures from major tech companies like AME Cloud Ventures, Instacart, Snapchat, Moonpay , Anduril, and more. Others included former Tesla CFO Jason Wheeler and angel investor Ron Conway etc. The similarities between the California Breakthrough Project and Musk’s D.O.G.E. are evident in their shared emphasis on speed, experimentation, and cross-sector problem-solving. However, while D.O.G.E. leaned heavily into rapid implementation and market-style disruption, the California Breakthrough Project seemingly prioritizes ethics, transparency, and civil engagement to avoid public backlash. This balancing act could determine the newly launched project’s long-term viability as it pushes the boundaries of how blockchain and digital assets like XRP might one day integrate with government functions. Ripple’s involvement also reflects its growing influence in institutional and governmental environments. Moreover, with California being one of the largest economies in the world and a supporter of digital currencies , this collaboration with various crypto and tech companies could mark a significant step toward reshaping public perception of cryptocurrencies in a more favorable light. California Taps Crypto And Tech To Modernize Government According to reports, Governor Newsom launched the California Breakthrough Project to integrate input from the state’s leading crypto and tech companies, aiming to overhaul governmental operations from the ground up. The objectives of the project include diagnosing efficiencies in public service delivery and applying emerging technologies like blockchain to improve transparency, responsiveness, and inter-agency collaboration. The overarching strategy involves encouraging tech-led solutions for systemic government problems—a concept similar to the one behind D.O.G.E. By aligning firms that specialize in blockchain, payments, and digital infrastructure, California may not only invest in its technological advancement but also potentially lay the groundwork for the real-time application of Web3 innovation in public systems. The Governor even stated that, as the birthplace of modern tech, California is in a unique position to lead such a groundbreaking change.
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BlackRock explores Ethereum staking to boost ETF appeal. ETH ETFs see significant inflows, matching Bitcoin's fund attraction. Continue Reading: BlackRock Sets Its Sights on Ethereum ETF Staking Opportunities The post BlackRock Sets Its Sights on Ethereum ETF Staking Opportunities appeared first on COINTURK NEWS .
Key Takeaways: Pakistan and El Salvador formalize diplomatic ties with crypto at the center. Pakistan plans a national Bitcoin reserve and regulatory body for oversight. El Salvador maintains active Bitcoin purchases under an IMF deal. Pakistan and El Salvador have initiated formal diplomatic ties centered on cryptocurrency cooperation, according to a report published by Bloomberg . The partnership follows a meeting in San Salvador between Bilal Bin Saqib, special assistant to Pakistan’s prime minister on crypto and blockchain, and El Salvador President Nayib Bukele. Pakistan and El Salvador Partner for Digital Assets The discussions focused on knowledge-sharing in digital asset infrastructure and policy, while Pakistan plans to structure its crypto markets under regulatory oversight. Pakistan recently allocated 2,000 megawatts for Bitcoin mining and intends to establish a national Bitcoin reserve. The government previously launched the Pakistan Virtual Assets Regulatory Authority (PVARA) to oversee the domestic digital asset market. Pakistan creates digital assets regulator PVARA to oversee crypto industry with @cz_binance and @saylor as strategic advisors amid massive 40M users and $300B annual trading volume. #Pakistan #Crypto https://t.co/sGm3VPdu1M — Cryptonews.com (@cryptonews) July 8, 2025 Earlier this year, Saqib stated that up to 20 million Pakistanis currently hold crypto, despite ongoing caution from the country’s central bank. El Salvador adopted Bitcoin as legal tender in 2021 and continues to acquire the asset while under an International Monetary Fund (IMF) agreement. According to government figures, the country holds 6,238 Bitcoins. Tether also opened a headquarters there in January. Bitcoin Acquisition vs IMF Agreement Pakistan is currently under a $7 billion IMF program that runs through 2027. The fund has expressed concerns about state-level digital asset purchases, but El Salvador has continued its policy regardless of the terms. “Bitcoin keeps being an important project,” said El Salvador’s economy minister , Maria Luisa Hayem, when the government purchased seven Bitcoins despite the agreement with the IMF. “There is an asset accumulation that we’re seeing from the government perspective, from the private sector perspective.” By forming bilateral channels focused on infrastructure and governance, countries under IMF influence may seek greater autonomy in structuring digital asset policies without triggering compliance issues or threatening macroeconomic stability. Other emerging economies with large unbanked populations are also exploring sovereign digital asset programs, seeking to reduce reliance on foreign exchange reserves and expand financial access without altering core monetary frameworks. Frequently Asked Questions (FAQs) Could this agreement lead to joint mining or shared infrastructure between Pakistan and El Salvador? While not disclosed in current statements, both countries are actively investing in Bitcoin mining. Future collaboration could include technology transfer, operational partnerships, or coordinated infrastructure planning if aligned under bilateral frameworks. How does Pakistan’s crypto stance compare with other IMF program countries? Most IMF-supported nations have either restricted or delayed digital asset integration. Pakistan’s move to create a national reserve and regulatory authority places it ahead in formal crypto adoption among peers under similar fiscal supervision. What challenges might Pakistan face in implementing a national Bitcoin reserve? Potential obstacles include central bank resistance, volatility management, custodial infrastructure, and compliance with existing IMF conditions. Legal clarity on asset classification and secure storage mechanisms will also be essential. The post Pakistan and El Salvador Strengthen Diplomatic Ties With New Crypto Alliance appeared first on Cryptonews .
Decade-Old Bitcoin Whale Wakes Up A multi-billion-dollar Bitcoin whale that has been dormant since 2011 started moving its long-stored holdings recently. This has fueled speculation of an impending multi-billion-dollar sell-off. According to on-chain analyst Lookonchain, nearly half of the whale’s 80,000 BTC (worth over $4.7 billion at current prices) was moved into new wallets recently. The abrupt action has spooked traders, especially with Bitcoin’s recent price strength above $123,000. $4.7B in BTC Transferred Between Wallets The whale began transferring with a 9,000 BTC transaction—approximately $1.06 billion—to wallets linked with Galaxy Digital. Shortly after, 7,823 BTC (around $927 million) was sent next. Then the mass migration occurred: 40,009 BTC—worth $4.68 billion—was dispersed into new wallet addresses. Though some analysts theorize the activity may represent internal restructurings or security precautions, the destinations suggest another possibility. Hints of a Potential Sell-Off? The transfers to Galaxy Digital were just the beginning. On-chain metrics show the firm moved 6,000 BTC ($706 million) to major exchanges like Binance and Bybit—a strong indication that some of the coins may be about to hit the market. Whales sell at tops, and with Bitcoin changing hands for approximately $118,200, traders are on high alert. Should all 40,000 BTC find its way to exchanges, it could lead to high short-term volatility. More Dormant Wallets Stir This whale isn’t alone. A different long-dormant wallet transferred 1,042 BTC ($122.5 million) earlier today after being inactive for six years. Purchased when Bitcoin was trading at just $8,746, the stash was worth less than $10 million initially. The heightened activity among older wallets aligns with Bitcoin flirting with new highs. It’s uncertain if these movements come before impending dumps or strategic rebalancings—but the market is decidedly on edge.
A growing number of publicly traded companies are aggressively accumulating Ethereum (ETH), adding over $1.5 billion in holdings and pushing the cryptocurrency’s market capitalisation beyond $420 billion. This shift marks a significant reallocation of digital asset reserves away from Bitcoin and toward Ethereum, as firms pursue returns from staking, decentralised finance (DeFi), and on-chain finance.
Bitcoin's mysterious founder, Satoshi Nakamoto, has now become the 11th richest person in the world, with the value of his cryptocurrencies exceeding $130 billion. According to Arkham Intelligence data, the value of Bitcoins in wallets thought to belong to Nakamoto has surpassed that of Microsoft founder Bill Gates ($117 billion) and Dell Technologies founder Michael Dell ($126.5 billion), with the BTC price increasing by 14 percent in the last month. Calculated at Bitcoin's current price of $118,912, this wealth puts Satoshi just $12 billion behind Berkshire Hathaway CEO Warren Buffett, who has long been known for his critical stance against Bitcoin. Buffett's net worth, according to Forbes, is $141 billion. If Bitcoin rises by about 8 percent to $128,650, Satoshi will surpass Buffett. Related News: BREAKING NEWS: The US Government Allegedly Holds Far Fewer Bitcoins Than Estimated - Big if True In a 2022 statement, Buffett described Bitcoin as “rat poison” and said he wouldn't buy all the Bitcoins, even for $25. Since then, Bitcoin's value has increased by 204%. While the exact amount of Bitcoin owned by Satoshi Nakamoto remains unknown, a widely accepted analysis is known as the “Patoshi Pattern.” The consistent activity of a single miner observed in early Bitcoin blocks suggests that Satoshi mined approximately 22,000 blocks. This analysis suggests that Nakamoto may have approximately 1.1 million BTC. Arkham Intelligence's estimate of 1.09 million BTC also aligns with this approach. Satoshi's true identity remains unknown. An HBO documentary released last fall suggested that Bitcoin Core developer Peter Todd might be Satoshi, but Todd and many viewers dismissed this theory. Similarly, early Bitcoin contributors Adam Back and Hal Finney have also been cited, but both have denied these claims. Tech giants like Elon Musk have also been suggested as Satoshi, but his identity remains unclear. *This is not investment advice. Continue Reading: Where Bitcoin Founder Satoshi Nakamoto Ranks Among The Richest After Recent Rises: If BTC Price Surpasses Here, He Will Overtake Warren Buffett