The crypto market is showing extremely bullish signals today, with the total crypto market cap rising 1.2%. Bitcoin is up over 5% over the past 24 hours, currently trading just above $116,500 at an all-time high. Ethereum has continiued its positive momentum today as it trades around $3,000, up 7%. But what else is happening in crypto news today? Follow our up-to-date live coverage below. The post [LIVE] Crypto News Today: Latest Updates for July 11, 2025 – Bitcoin Races Towards $120K, ETH Nears $3K Amid Bullish Frenzy appeared first on Cryptonews .
Crypto memecoin platform Pump.fun has made a strategic move by acquiring Kolscan, a wallet-tracking tool, ahead of its ambitious $1 billion ICO launch. This acquisition aims to enhance Pump.fun’s ecosystem
On July 11, Gate Alpha’s official data revealed that the leading cryptocurrencies by daily trading volume on July 10 were MRBEAST, VELVET, and MANYU. This highlights the growing market interest
In a rare but potentially telling market shift, Ethereum futures volume overtook Bitcoin’s over a 24-hour period, recording $62.1 billion compared to BTC’s $61.7 billion on July 10. This reversal, highlighted by market analytics platform Glassnode, may suggest a subtle but meaningful rotation in trader sentiment. While the OG cryptocurrency remains the market leader in price and dominance, Ethereum’s uptick could point to growing confidence in its ecosystem. Catalysts Driving the Ethereum Surge Several converging factors could explain this sudden dominance, including growing institutional confidence in the second-largest crypto by market cap, as evidenced by Bit Digital’s recent move to convert its entire $173 million BTC treasury into Ethereum. We also recently saw deep-pocketed investors scoop up 200,000 ETH worth more than half a billion dollars over a two-day period. Not only did they boost their collective holdings to 22% of ETH’s supply, but they also indicated their long-term conviction in the asset. Additionally, there’s anticipation building around potential approvals by the U.S. Securities and Exchange Commission (SEC) of staking within spot Ethereum ETFs. According to K33 Research, this could push up the price of ETH far more significantly than has been done by technical upgrades to the network. And while Bitcoin may have reached a new all-time high (ATH) past $113,000, the flip arrived just as ETH recorded a sizable uptick of its own, hitting $2,810 at one point, to move closer to a key resistance level not breached since February. Analysts like Daan Crypto Trades argue that a break above $2,800 could trigger liquidations that would ignite “a lot of momentum,” which might see Ethereum reach $3,000 and beyond. Market Mechanics Interestingly, during BTC’s run to the new ATH, Glassnode observed a curious shift in the structure of the futures market. In late June, rising Bitcoin prices were met with declining open interest, possibly indicating short squeezes; however, this time, open interest went up alongside BTC’s price, suggesting fresh long positions were entering the market. Despite Ethereum’s strong showing, caution remains warranted. Bitcoin still commands a greater share of institutional products and remains the macro barometer for crypto. The post Rare Flip: Ethereum’s $62.1B Futures Volume Tops Bitcoin’s $61.7B appeared first on CryptoPotato .
Memecoin creation platform Pump.fun has made its first acquisition, buying the wallet-tracking project Kolscan ahead of its $1 billion ICO.
Jonathan Gould was confirmed by the U.S. Senate today as Comptroller of the Currency at the OCC, bringing a wealth of crypto experience and knowledge to the role.
As the official public sale of Pump.fun’s token approaches, significant activity has emerged across decentralized derivatives exchanges, where large investors appear to be managing risk by taking early positions. Market data shows that whales are interacting with pre-market perpetual contracts, particularly on platforms like Hyperliquid and Binance, as they anticipate potential volatility during the token’s initial coin offering (ICO), scheduled for July 12. Related Reading: Crypto Market Cap On Track To $4.5 Trillion As Q3 Unfolds – Details Perpetual Market Signals Whale Hedging Strategy Three prominent wallets have collectively deposited over $11 million in USDC on Hyperliquid to open short positions on the newly listed PUMP perpetual contract. These trades appear to function as hedges against anticipated allocations in the upcoming token generation event. According to on-chain tracker Lookonchain and explorer Hypurrscan, the structure of these positions, utilizing low leverage and modest open interest compared to margin collateral, suggests a defensive rather than speculative stance. One wallet, identified as “0xAc72,” allocated $4 million in margin and opened a 2x leveraged short valued at approximately $1.07 million at an entry price of $0.00504. This trader’s liquidation point sits at $0.02138, offering a wide buffer that implies the position is less about profit from a downturn and more about offsetting potential downside risk from PUMP exposure in the ICO. Two additional wallets deployed a combined $7 million in margin to open 1x leveraged shorts. Together, these positions amount to roughly $2.39 million in open interest, a small portion of their posted collateral. Hyperliquid’s open interest in PUMP has surpassed $43 million since listing the token in the early hours of Thursday’s European session. Binance followed suit by listing a PUMP perpetual contract, which quickly amassed over $12 billion in trading volume, indicating heightened market anticipation. It is worth noting that the early trading could serve multiple purposes, including valuation locking by whales, arbitrage strategies related to expected airdrops, or speculative profit-taking based on retail momentum. Pump.fun Token Launch Nears as Pricing Premium Narrows The PUMP token initially debuted in pre-market trading at a roughly 40% premium to its ICO price of $0.004. It reached a high of $0.0056 on Hyperliquid before retreating to around $0.0047 levels, a level closer to its public sale valuation. The narrowing premium suggests a recalibration in investor expectations as trading stabilizes ahead of the launch. Pump.fun, a meme-coin launchpad built on Solana, announced the token in June alongside a revenue-sharing initiative for token holders. The token has a total supply of 1 trillion, with 33% allocated to early participants via a private sale (18%) and public sale (15%). The ICO will run from July 12 to July 15 on crypto exchange Bybit, providing a limited window for broader participation. Related Reading: ‘Real’ Crypto Bull Run Just Beginning, Says Analyst—Here’s Why While details of the airdrop mechanics have not been fully disclosed, the ongoing activity suggests that large holders are actively managing their exposure before the distribution phase begins. Featured image created with DALL-E, Chart from TradingView
Crypto cards, once seen as a niche innovation, are now significantly influencing everyday financial decisions, with the market expected to reach $152.2 billion by 2031. Demographics Driving the Shift Crypto cards, once considered a niche innovation, now shape everyday financial choices, with the market projected to reach $152.2 billion by 2031. These cards are used
A man convicted in a $22 million crypto fraud scheme saw his prison sentence sharply increased after failing to repay the money he owed his victim. Nicholas Truglia, 27, who was initially sentenced to 18 months, received a new 12-year sentence on Thursday in a New York federal court. U.S. District Judge Alvin Hellerstein ordered the increase after ruling that Truglia had willfully ignored his obligation to pay back nearly $20.4 million in restitution. “You paid not a cent, not one cent,” Judge Hellerstein told Truglia during the hearing. The judge further ordered an added 3-month supervised release while noting Truglia’s lifestyle. “You didn’t have a job, but you lived in splendor,” Judge Hellerstein said. Judge Slams Crypto Fraudster’s Lavish Lifestyle in SIM-Swap Sentencing According to the report from Bloomberg, Truglia’s legal team argued the new sentence was unlawful. His attorney, Mark Gombiner, said in court that the punishment was “an extraordinary abuse of discretion” and confirmed plans to appeal. #breaking for real: Hacker Truglia sentenced to 12 years, more than double the guideline of 51 to 63 months, for not paying his $20 million restitution. Video of him speaking behind a mask cited and used. Appeal to follow – but remand to Marshals about to occur https://t.co/tWBdzgd4zT — Inner City Press (@innercitypress) July 10, 2025 Arrested in the California Bay Area in 2018, Truglia pleaded guilty in 2021 to participating in a scheme that involved hijacking a victim’s phone number through SIM swapping and draining their crypto accounts. The hackers exploited a telecom employee to gain control of Michael Terpin’s phone number. Terpin, a blockchain investor and CEO of Transform Group, suffered a loss of $24 million due to this scheme. Notably, Truglia was tasked with converting stolen cryptocurrency into Bitcoin. In 2019, Terpin filed a civil lawsuit for $75 million against the scammer and was awarded the full amount in damages by the court. That same year, he also took legal action against AT&T, his wireless carrier at the time, filing a $224 million lawsuit for their negligence. Their failure to secure his cell phone allowed the hackers to compromise it, resulting in his loss. At the time of his initial sentencing, prosecutors revealed that Truglia held more than $50 million in assets, including cryptocurrency, luxury goods, and fine art. Gombiner told the court that his client had turned over all assets he could access, including funds from a Wells Fargo account. Truglia claimed that much of his wealth remained locked in an inaccessible Bitcoin wallet. He told the judge he would repay the victim if he could access the funds. Terpin, who joined the hearing by phone, rejected that explanation, calling it “a giant smoke screen.” U.S. Ramps Up Enforcement as Crypto Crimes Lead to Decades-Long Sentences In the U.S., crypto crimes continue to result in severe penalties. On May 23, Trung Nguyen, a Massachusetts man who ran an unlicensed cash-to-Bitcoin business, was sentenced to six years in federal prison . His company, disguised as a vending machine operator, processed over $1 million in illicit cash, including funds for a known methamphetamine dealer. Nguyen, who used the alias “DCS420,” was convicted in 2024 for money laundering and failing to register with FinCEN. Just two weeks earlier, on May 9, Mohammed Azharuddin Chhipa received a 30-year sentence for sending crypto to ISIS operatives . U.S. prosecutors revealed that between 2019 and 2022, Chhipa funneled more than $185,000 to the terrorist group, funding fighters and prison escapes. A federal judge sentenced Chhipa to over 30 years for funding ISIS through cryptocurrency, supporting fighter salaries, and prison breaks. #DOJ #CryptoCrime https://t.co/74BdhgaEjh — Cryptonews.com (@cryptonews) May 9, 2025 His use of burner phones and fake identities ultimately failed to hide his tracks. He was caught attempting to flee and intercepted on an Interpol notice. Meanwhile, the U.S. Department of Justice is pushing for a 20-year sentence for Alex Mashinsky, the former CEO of Celsius. Prosecutors say Mashinsky’s fraudulent practices cost investors $550 million, describing his actions as deliberate and self-serving. Celsius founder Alex Mashinsky was sentenced to 12 years in prison for defrauding investors with false promises of high crypto returns. #Celsius #AlexMashinsky https://t.co/R4syyDiKaU — Cryptonews.com (@cryptonews) May 9, 2025 He pled guilty in late 2024 after Celsius collapsed in mid-2022, freezing $4.7 billion in customer funds. These back-to-back cases underscore mounting pressure from courts and regulators to address crypto misuse, whether through scams, market abuse, money laundering, or terrorism financing. The post Crypto Scammer’s Sentence Jumps from 18 Months to 12 Years in $20M Fraud Case appeared first on Cryptonews .
SharpLink Gaming, a publicly listed sports and online casino marketing firm, is rapidly positioning itself to become the largest corporate holder of Ethereum (ETH). Key Takeaways: SharpLink Gaming is rapidly accumulating Ethereum, with reserves reaching $612 million. The company raised $64 million recently, allocating $37 million for further ETH purchases and staking. SharpLink is on track to surpass the Ethereum Foundation as the largest corporate ETH holder. The company has been purchasing tens of millions of dollars worth of ETH every day, according to Ethereum co-founder Joe Lubin , who also chairs SharpLink’s board and leads Consensys, a major Ethereum software developer. At the current rate, SharpLink is on track to overtake the Ethereum Foundation, which currently holds around $725 million worth of the cryptocurrency. Nasdaq-listed Sharplink Gaming’s shares are up over 8% in pre-market today. SharpLink’s Ethereum Holdings Reach $612 Million As of Thursday, SharpLink’s Ethereum reserves stood at $612 million. “We are accumulating more and more consistently — we’re able to acquire tens of millions of dollars in Ether a day,” Lubin told CNBC. The aggressive accumulation marks a new chapter for SharpLink. CEO Rob Phythian revealed in May that the company would expand beyond its traditional business, selling approximately $425 million in stock to investors including Consensys. The proceeds are earmarked for Ethereum purchases, establishing ETH as SharpLink’s primary treasury reserve asset. This approach echoes that of Strategy, a software firm that has amassed $67 billion in Bitcoin since 2020. Following SharpLink’s announcement, its stock price surged nearly 2,700%, peaking at $124 on May 30. However, the price later plunged by 75% after an SEC filing allowed insiders to sell shares. Lubin clarified on social media that neither he nor Consensys has sold any shares and described the filing as standard. Between June 28 and July 4, SharpLink raised $64 million, committing $37 million of it to further Ethereum purchases . The company has also staked its entire ETH holdings, earning 322 ETH in staking and restaking rewards since early June. According to the Strategic ETH Reserve tracker, 46 entities hold more than 1.3 million ETH collectively worth over $3.6 billion. SharpLink currently ranks second among corporate holders, behind the Ethereum Foundation and ahead of Coinbase and others. After dipping below $10 in mid-June, SharpLink’s stock has rebounded to $18. Meanwhile, Ethereum’s price reached $2,967 on Thursday, its highest level since early February. More Public Companies Diversify into Crypto Following the model pioneered by Michael Saylor’s Strategy, more public companies are diversifying into crypto holdings that include BTC, ETH, SOL, and XRP. Just recently, BIT Mining announced plans to raise between $200 million and $300 million to build a Solana (SOL) treasury as part of a broader expansion into the fast-growing blockchain ecosystem. Last week, DeFi Development Corp. revealed that it has acquired $2.7 million worth of Solana as part of its aggressive crypto treasury strategy. Likewise, Canadian digital asset firm Sol Strategies, already trading on the Canadian Securities Exchange, holds over 420,000 SOL tokens, positioning itself as a significant institutional player in Solana’s ecosystem. Last month, the firm also filed to list its common shares on the Nasdaq Capital Market under the ticker “STKE” as it ramps up its U.S. expansion. The post SharpLink Stock Soars as It Doubles Down on Ethereum Treasury Strategy appeared first on Cryptonews .