Ethereum ETFs are experiencing unprecedented inflows as institutional investors accelerate their accumulation, signaling growing confidence in ETH’s long-term potential. In July alone, Ethereum ETFs have attracted over $890 million, positioning
Three leading crypto trade groups urged Congress to pass the CLARITY Act in a July 11 letter to Speaker of the House Mike Johnson and House Minority Leader Hakeem Jeffries. Crypto Trade Groups Urge Congress To Pass Crypto Legislation According to the Friday letter from Blockchain Association CEO Summer Mersinger, The Digital Chamber CEO Cody Carbone and President and Acting CEO of the Crypto Council for Innovation Ji Hun Kim, the three digital asset policy collectives called on U.S. lawmakers to advance the “important” crypto legislation. 1/ United for CLARITY: The 3 leading U.S. digital asset trade groups — @BlockchainAssn , @crypto_council , and @DigitalChamber — are calling on Congress to pass the bipartisan CLARITY Act. It’s time for regulatory certainty. pic.twitter.com/AL7AdtvlQG — Blockchain Association (@BlockchainAssn) July 11, 2025 “The CLARITY Act represents meaningful progress toward the regulatory certainty needed for our industry to foster innovation and for blockchain technology to thrive in the U.S.,” the CEOs said. “Advancing this bipartisan market structure legislation sends a strong message that the U.S. is committed as the global leader in digital assets,” they added. If enacted, the CLARITY would largely see crypto regulatory responsibility delegated from the United States Securities and Exchange Commission (SEC) to the Commodity Future Trading Commission (CFTC). The move would mark a win for crypto proponents after years of the SEC’s regulation-by-enforcement approach and treatment of digital assets as securities. “As the conversation continues, we encourage the Senate to build on the momentum from the House and engage closely with industry stakeholders to bring bipartisan market structure legislation to the Senate floor as soon as possible,” the letter states. “We look forward to continuing to work with both chambers to help ensure U.S. leadership in digital assets.” Congress Braces For Dueling Crypto Weeks The blockchain trade groups’ letter comes ahead of the Republican Party’s purported “Crypto Week” on Capitol Hill. However, Democratic lawmakers Maxine Waters and Stephen Lynch unveiled on Friday that they would be launching their own “Anti-Crypto Corruption Week” in opposition to Republicans’ crypto legislative efforts. “My Republican colleagues are eager to continue doing the bidding for the crypto industry while conveniently ignoring the vulnerabilities and opportunities for abuse that exist in crypto,” Congressman Lynch said. The post Key Crypto Trade Groups Call For CLARITY Act’s Passage appeared first on Cryptonews .
On July 12, Coinglass data revealed significant movements in the crypto spot fund flows. XRP led the net inflows with a substantial $41.09 million, followed by TRX at $25.16 million,
A long-standing debate on whether or not the altcoin season will kick off this year is still ongoing. Thus far, there have been many opposing outlooks from different market participants. While some are convinced that altcoins will underperform for the rest of the year, others remain optimistic that the highly anticipated altcoin season will come into play before the close of the year. One such analyst who maintains a bullish outlook for altcoin is João Wedson. The verified analyst published on Cryptoquant and CoinMarketCap is sharing yet another bullish take with his 7,000+ follower base. In a post shared on X, the analyst makes a bold assertion, stating that a “mini altcoin season” is in play. Notably, altcoin season is a period when alternative coins outperform Bitcoin for a few weeks to several months. Per Wedson’s observation, as illustrated by an altcoin season index vs Bitcoin chart he shared, 90% of altcoins have outperformed Bitcoin over the past 72 hours. “After months of saying that June and July would heat up the altcoin market — this is just the beginning! Few will believe we’re in an Altcoin Season because the media and baseless analyses fill your head with hopelessness.” The analyst wrote . It, however, bears mentioning that the Altcoins in question include Altcoins outside the top 100 category. Notably, altcoin season usually kicks off when 75% of the top 100 Altcoins outperform Bitcoin within 90 days. According to data from CoinMarketCap , only 26 out of 100 leading altcoins have outperformed Bitcoin over the past 90 days. The highest value of 30 was last recorded in June, while April 26 marked a yearly low, with only 12 altcoins outpacing Bitcoin. Wedson, who appears to be sticking to his guns, maintains that multiple “mini altcoin seasons” can be observed within a week. He remarks that whale activity is usually heightened at this time, and concludes with an even more bullish forecast for altcoins. “I’ve shared many times that within just one week, several mini Altcoin Seasons can happen — and that’s exactly when whales make fast, massive profits. But make no mistake: a larger Altcoin Season is already underway.” He added.
Asset management giant Grayscale is challenging the US Securities and Exchange Commission’s decision to pause the launch of its large-cap fund holding Bitcoin (BTC) , Ethereum (ETH) , Ripple’s XRP , Solana (SOL) , and Cardano (ADA) , proclaiming its investors are “suffering harm” due to the delay. Grayscale Pushes Back On SEC Pause Grayscale has filed a letter with the SEC in response to the agency’s unexpected pause on its plan to transform the Grayscale Digital Large Cap Fund (GDLC) into a spot ETF. The GDLC primarily comprises Bitcoin, which accounts for 80% of its underlying assets. Another 11% of its holdings are in Ether, while Solana, XRP, and Cardano account for 2.8%, 4.8% and 0.8% of the fund, respectively. In the letter , Grayscale’s legal team urged the Commission to follow rules enacted by Congress that create deadlines for the greenlighting of investment vehicles such as the GDLC. The SEC had already approved the conversion on July 1 on an “accelerated basis”. However, a day later, the regulator issued a stay order to review the approval due to a pending internal review. “Grayscale, the Exchange and the Fund’s current investors are suffering harm as a result of the delay in public launch of the Fund,” the company said. Grayscale also claimed that the fund’s approval should stand by default as the SEC missed its legal deadline to act on the proposal, and that under federal law, the conversion of the fund should be considered automatically approved. The asset manager’s lawyers are now contemplating filing a petition to force the regulator to allow its fund to begin trading as soon as possible. “Grayscale and the Exchange are therefore considering whether to file a petition requesting the Commission to lift the stay imposed by Rule 431(e) while the Commission reviews the action taken by delegated authority, so that the Fund may promptly launch while that review proceeds,” they postulated. The move to convert GDLC into a spot fund is in line with Grayscale’s wider strategy to introduce more crypto products to mainstream financial markets, following the successful introduction of its spot BTC ETF in early 2024. Meanwhile, asset managers have flooded the SEC’s desk with applications for ETF proposals tracking the prices of several cryptocurrencies, including meme coins like Dogecoin and Official Trump and other altcoins, amid a more lenient regulatory backdrop in the United States since crypto-friendly President Donald Trump returned to the White House in January.
On July 12, Upbit, South Korea’s leading cryptocurrency exchange, recorded a substantial 24-hour trading volume of $571.5 million, as reported by CoinGecko. The XRP/KRW trading pair dominated the market, representing
The figure is quoted in a report published by New York-based investment research firm Benchmark on Friday. Analysts Predict Metaplanet Stock Could Reach ¥2,400 Shares of Japanese bitcoin treasury firm Metaplanet continue to defy gravity, soaring 7,900% since the once embattled hotel company implemented a well-executed bitcoin ( BTC) corporate strategy last year. That’s according
In a positive development for the crypto community, the individual responsible for the GMX exploit accepted the platform’s bounty and returned over $40 million worth of assets stolen from the project. Related Reading: Drop NFTs Like It’s Hot: Snoop Dogg’s Telegram Collection Raises $12M In 30 Minutes Crypto Hacker Takes $42 Million From GMX On Friday, the recent GMX V1 exploit ended on a happy note after the individual responsible for the incident turned into a white-hat hacker. Perpetual and spot crypto exchange GMX lost over $40 million on Wednesday when an attacker exploited a vulnerability in the protocol’s first version on Arbitrum. According to online reports, GMX V1’s vault contract had a vulnerability that allowed the attacker to manipulate the GLP token price through the system’s calculations. Blockchain security firm SlowMist explained that “The root cause of this attack stems from GMX v1’s design flaw, where short position operations immediately update the global short average prices (globalShortAveragePrices), which directly impacts the calculation of Assets Under Management (AUM), thereby allowing manipulation of GLP token pricing.” Through a reentrancy attack, they successfully established massive short positions to manipulate the global average prices, artificially inflating GLP prices within a single transaction and profiting through redemption operations. As a result, approximately $42 million worth of assets, including Legacy Frax Dollar (FRAX), wrapped bitcoin (WBTC), wrapped ETH (WETH), and other tokens, were transferred from the GLP pool to an unknown wallet. The perpetual crypto exchange halted GMX V1’s trading and GLP’s minting and redeeming on both Arbitrum and Avalanche to prevent another attack and protect users’ funds. However, they clarified that the exploit was limited to GMX’s V1 and its GLP pool. GMX V2, its markets, or liquidity pools, and the GMX token were not affected and remained safe. White-Hat Claims $5 Million Bounty Following the incident, GMX sent a message on-chain and on X offering a $5 million white-hat bounty to the attacker, claiming that their abilities were “evident to anyone looking into the exploit transactions.” GMX’s team noted that returning the funds within the next 48 hours and accepting the bounty would allow the hacker to “spend the funds freely,” instead of taking additional risks to access them. They also vowed not to pursue any legal action and to assist the exploiter in providing proof of source for the funds if it is ever required. Today, the exploiter responded in an on-chain message, accepting the bounty and starting the return process. As Lookonchain reported, they initially returned $10.49 million worth of FRAX on Friday morning. Meanwhile, another $32 million worth of assets had been swapped into 11,700 ETH, which are now valued at $35 million after the King of Altcoins’ price jumped to the $2,990 mark. In the following hours, the hacker returned 10,000 ETH, worth $30 million, keeping only 1,700 ETH, valued at $5.2 million, as the bounty. Related Reading: Solana Ready For $160 Reclaim? Analysts Say Breakout Is A Matter Of Time GMX later confirmed that the funds have now been safely returned and thanked the white-hat hacker for their actions, ultimately giving a positive turn to the incident. Lastly, they informed users that “contributors are working on a proposed distribution plan for presentation to the GMX DAO and will share more information shortly.” Featured Image from Unsplash.com, Chart from TradingView.com
Robert Kiyosaki, renowned author of “Rich Dad Poor Dad,” has reiterated his bullish stance on Bitcoin, suggesting investors consider purchasing the cryptocurrency again when it reaches the $110,000 mark. Kiyosaki
BlackRock’s iShares Bitcoin Trust (IBIT) has shattered records by amassing $80 billion in assets under management (AUM) in just 374 days, marking the fastest growth ever for an ETF. The