The S&P 500 locked in its ninth all-time closing high of 2025 on Thursday, climbing 0.54% to 6,297.36, as crypto stocks ripped higher, and investors got slammed with better-than-expected earnings. Nasdaq Composite ended at 20,885.65, up 0.75%, posting its tenth record of the year. The Dow Jones added 229.71 points, or 0.52%, to close at 44,484.49, with all three major indexes pushing through new intraday highs before the bell rang. Trump’s GENIUS Act, signed into law the same day at the White House, lit a match under crypto stocks, triggering a sharp rise in names like Coinbase, Robinhood, and Bitmine Immersion. The bill, which has been called the first full-scale crypto regulation ever passed in the United States, got an official ceremony attended by politicians and industry leaders. Trump’s action now locks crypto oversight into federal law, something future presidents can’t just brush off. Noelle Acheson, economist and author of Crypto is Macro Now , said, “This is the biggest deal in crypto so far this year, up there with the change in the SEC – it’s the first crypto-focused law in the history of the United States, home to the largest financial market in the world.” She added that: “Being law rather than an agency ruling means that future Administrations will not be able to easily overturn its provisions. Should any try, by then stablecoins will be so deeply embedded in the global financial landscape, it would be futile.” Coinbase touches intraday high, Ether leads crypto run Coinbase saw a 2% gain by close and even spiked above the high it hit during its IPO debut in 2021, making it five straight positive weeks for the company. Robinhood closed 4% higher, while Bitmine Immersion, which manages ether reserves, added 1%. The jump came after Trump’s signing, which investors saw as a regulatory green light. Despite the crypto euphoria, bitcoin slipped 1%, weighing on firms tied directly to the coin. Strategy, previously known as MicroStrategy, dropped 6%, while Mara Holdings, a mining firm viewed as a bitcoin proxy, fell 2%. The contrast came as Ether dominated the spotlight, soaring 18% this week alone. That rally brings ether’s two-week performance to 43.6%, its strongest showing since August 2021. Bitcoin, for the same two-week stretch, is slightly down. Meanwhile, the CLARITY Act — a separate, more comprehensive bill covering crypto market structures — passed the House of Representatives and is now heading to the Senate, which will then send it to Trump, if approved. Jobless claims fall, retail sales beat expectations Outside crypto, the day’s economic reports gave traders more reason to stay risk-on. The Labor Department reported that initial jobless claims for the week ending July 12 dropped by 7,000, landing at 221,000. That decline hints that layoffs haven’t picked up despite all the noise about rate hikes and inflation. It also helped prop up the narrative that the labor market isn’t breaking. Another surprise came from the U.S. Census Bureau, which reported that retail sales in June rose 0.6% from May. That’s triple the 0.2% estimate that Dow Jones analysts had projected. Consumers are still spending, and that’s keeping companies happy, and investors, even happier. That spending is starting to show up in corporate earnings. Roughly 50 S&P 500 companies have reported results so far, and 88% of them beat expectations, as tracked by FactSet. Big names like PepsiCo, which gained 7% on Thursday, and United Airlines, which added 3%, were standout winners. By the end of the week, the S&P 500 is projected to be up 0.6%, with the Dow eyeing a 0.3% gain. But the real winner is the Nasdaq, which is leading all three major indexes with a 1.5% rise so far in the week. That makes tech — and by extension, crypto stocks — the market’s top performers again. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
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The post Jack Dorsey’s Block to Join the S&P 500 Index Next Week appeared first on Coinpedia Fintech News Block Inc. (NYSE: XYZ), an American tech company founded by Jack Dorsey and best known for the creation of Cash App, will replace Hess Corp. (NYSE: HSE) in the S&P 500 index. The removal of the energy company was instituted after it was acquired by Chevron Corp. (NYSE: CVX). Beginning on Wednesday, July 23, the XYZ stock will be included in the S&P 500 index. As a result, Block Inc., will join Coinbase Global Inc. (NASDAQ: COIN), which joined the index in mid May 2025. Jack Dorsey’s Block Introduces Bitcoin to Mainstream Institutional Investors According to market aggregate data from BitcoinTreasuries , Block Inc., has held 8,585 Bitcoins, worth about $1.01 billion, since October 7 2020. The company purchased its Bitcoin trove at an average price of about $30,405, thus achieving a profit of nearly 300 percent. The inclusion of the Block Inc. into the S&P 500 index will, therefore, play a crucial role in the mainstream adoption of BTC by institutional investors. Furthermore, the cryptocurrency market has received much needed legal clarity, especially after President Donald Trump signed into law the GENIUS Act . Following the announcement, the XYZ stock market gained 10 percent in the after hours on Friday to trade about $79.49. The large-cap company, with a market valuation of about $43 billion, has seen its stock rally over 35 percent in the past three months. The bullish sentiment of XYZ is partially influenced by the ongoing rally in Bitcoin fueled by mainstream adoption.
Ondo Finance, a designer of institutional-grade platforms, assets, and infrastructure, has introduced a novel approach to moving traditional assets onto the blockchain. Built on Sei’s infrastructure for digital asset exchanges, this marks a further collaboration between industry peers, bridging the gap between Web2 and Web3. An Industry First The decentralized finance (DeFi) platform Ondo announced yesterday on X the pioneering project – the first-ever US government bond product tokenized on the Sei network. The United States Dollar Yield (USDY) is a tokenized note, backed by short-term US Treasuries and bank deposits. In traditional finance (TradFi), U.S. Treasuries have long stood as a “safe haven.” With tokenization being introduced, owning bonds will become easier and more efficient through fractionalization. The network will grant developers and users alike access to a yield-bearing RWA, seamlessly integrated into Sei’s expanding DeFi stack. Regardless of the use case, whether it be collateral, payment rail, or base layer yield-primitive, USDY will enhance the network’s position in the RWA-enabled on-chain finance space. An excerpt from Ondo’s blog post reads: “USDY will be the first tokenized treasuries asset on the Sei network, a growing modular blockchain ecosystem, bringing institutional-grade onchain yield to its users for the first time.” Ondo’s ongoing strides in the DeFi space follow World Liberty Financial’s selection of the ONDO token as a strategic asset reserve, marked by a $470,000 purchase. The choice of the Sei Network comes at a time when it’s experiencing significant growth, as it’s nearing $700 million in Total Value Locked (TVL), according to data from DefiLlama. Compared to the same time last year, the protocol’s TVL was approximately $85 million, representing about a 700% increase. “Ondo Finance is setting the standard for real-world asset tokenization, and we’re thrilled to welcome USDY to the Sei ecosystem,” said Justin Barlow, Executive Director at the Sei Development Foundation. Tokenization of Assets on The Rise The RWA market has been experiencing significant growth, with data from RWA.xyz showing a total value increase from $11.6 billion to over $24 billion in just one year. Well-known names in the crypto space have been making strides in the trend, with the likes of Cardano tapping into Argentina’s mining sector to convert property rights to lithium into digital tokens. Chainlink was integrated into ANZ, an Australian bank, to enable the secure cross-chain exchange of RWAs via its Cross-Chain Interoperability Protocol (CCIP). Fidelity Investments, one of the world’s largest asset managers with approximately $5.9 trillion in assets under management (AUM), has also entered the tokenization race, reportedly researching stablecoins and tokenized treasury products. The post Ondo Finance Debuts a Tokenized US Treasury Fund (USDY) on the SEI Blockchain appeared first on CryptoPotato .
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Leaders of the world’s top two stablecoin companies laid out their plans for the future after President Trump signed sweeping stablecoin legislation into law.
The world’s largest crypto exchange platform by trading volume is adding support and airdropping for Chainbase ( C ), an artificial intelligence (AI) altcoin that integrates blockchain interfaces. In a new announcement, Binance says that Chainbase will be the newest token added to the HODLer Airdrops program, which gives users awards based on their balance of BNB , the native asset of Binance. “Binance is excited to announce the 28th project on the HODLer Airdrops page – Chainbase (C). Chainbase is a Hyperdata Network for AI.” Binance also added the token to its other programs– such as Binance Simple Earn, “Buy Crypto”, Binance Convert, and Binance Margin – before it shot up in price. News of the additions caused C to spike, going from a July 17th low of $0.125 to a peak of $0.51 just a day later. The asset has since retraced and is trading for $0.401 at time of writing, a staggering 229.7% gain during the last 24 hours. On its website , Chainbase describes itself as an AI protocol that attempts to unify data from all existing blockchains into one ecosystem. “Chainbase is the world’s largest hyperdata network designed to integrate all blockchain data into a unified ecosystem, providing an open and transparent data interoperability layer for the AI era. It has designed a novel dual-chain technology architecture that bridges the programmability and composability of crypto data, which supports high throughput, low latency, and eventual determinism, as well as higher cybersecurity through a dual staking model.” 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 Binance Airdrops, Adds Trading Support for New Blockchain Integrating Interface Token Chainbase (C) appeared first on The Daily Hodl .
One is breaking resistance in DeFi. The other is breaking expectations altogether. Pudgy Penguins (PENGU) is surging after ETF speculation and a Coinbase profile update sent trading volume soaring across South Korean exchanges. At the same time, Uniswap (UNI) is gaining strength. Recent price action shows a clear push toward $10.20, with solid technical backing and steady buying pressure keeping bulls in control. While those moves grab headlines, BlockDAG (BDAG) is making its own with a bold offer. For the next 7 days, there is no vesting. All purchases unlock fully at launch. With $342 million raised and price fixed at $0.0016 until August 11, this one is built around real access. PENGU Price Surge by ETF Talk and Exchange Activity PENGU is making waves with a surge of over 25% in the past day and nearly 90% this week, now trading just below $0.029. The rally gained traction after Canary Capital’s proposed PENGU ETF received acknowledgment from the SEC. If approved, it could become the first meme coin ETF in the market, pushing PENGU into the spotlight. Momentum intensified when Coinbase updated its profile to feature a Pudgy Penguins NFT. OKX and OpenSea added to the buzz, while trading volume on South Korean platforms alone reached $355 million. With RSI at 69 and a breakout target of $0.031 in sight, PENGU is shaping up as a top meme contender. UNI Targets $10.20 as Bulls Defend Breakout Zone Uniswap is showing strong momentum after climbing nearly 28% over the past week to trade at $9.44. The move began with a breakout from $7.50 and continued through the $8 and $9 resistance zones, with minor corrections swiftly reversed by buyers staying firmly in control. Although trading volume has tapered off, the price remains solid. RSI stands at 72.98, and MACD confirms positive momentum, reinforcing bullish sentiment. With UNI holding above key support at $9.40 and trading beyond the upper Bollinger Band, analysts see a clear path to $10.20 if momentum continues. BlockDAG’s NO VESTING PASS Empowers Buyers With Full Launch Access While most crypto presales follow the standard playbook of long token lockups, BlockDAG is flipping the script. For the next 7 days, anyone purchasing BDAG will receive 100% of their coins unlocked at launch through the limited-time NO VESTING PASS. This exclusive offer applies only to purchases made during this window, giving early participants full control from day one. Rewards from referrals and promotional bonuses will still follow the standard vesting schedule. However, the core coins purchased during this period will be instantly accessible at launch, allowing users to trade, hold, or deploy them without delay. This move is already driving a surge in buying activity as the deadline approaches. BlockDAG’s price remains fixed at $0.0016 through August 11, offering a rare opportunity to pair full access with significant upside. With a confirmed listing at $0.05, this translates to a 3,025% ROI from today’s entry point. The combination of unlock freedom and high return potential is drawing serious attention. With $342 million already raised and 24 billion coins sold, BlockDAG is sending a clear message. This is not just about early access. It is about early action. The NO VESTING PASS puts power in the hands of the community, and in this final stretch, timing is everything. Key Points The Pudgy Penguins rally shows how fast meme-driven momentum can turn into major price action. Uniswap continues to hold firm with strong technical backing in the DeFi space. Both are clear examples of trend power and structural resilience in different corners of the market. BlockDAG, however, is shifting the conversation. Its NO VESTING PASS puts full control into the hands of buyers with launch-day liquidity on all purchases made during the next 7 days. At $0.0016 and with $342 million already raised, this is more than a presale. It is a hands-on invitation to shape what comes next. Presale: https://purchase.blockdag.network Website: https://blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu The post BlockDAG Rewrites Rules with 8-Day NO VESTING PASS: Presale Breaks $342M as PENGU Eyes ETF & UNI Pushes $10! appeared first on TheCoinrise.com .
Shares of Coinbase Global Inc. rose sharply today, reaching an all-time high of $436, a 6% increase driven by growing market optimism. This increase comes ahead of the expected signing of the GENIUS Act at the White House, which is a key development for crypto regulation in the U.S. Investors are bullish about Coinbase because the new stablecoin laws are viewed as a significant improvement for the digital asset market. For Coinbase, which relies on stablecoins like USDC for its payment and crypto storage services, the GENIUS Act could create new ways to earn money and build trust among large investors in its platform. As of the time of writing, COIN is trading at $423.20, representing an approximate 3% increase, according to TradingView data . GENIUS: A Framework For Dollar-Backed Stablecoins At the core of the GENIUS Act is a comprehensive regulatory framework for dollar-pegged payment stablecoins. It mandates strict 1:1 reserve backing, ensuring that an actual U.S. dollar or an equivalent low-risk asset fully backs each digital dollar. Issuers would obtain either federal or state licenses and comply with Anti-Money Laundering (AML) protocols. The bill also includes necessary consumer protection measures . Stablecoin issuers are restricted from using customer reserves for anything beyond redemption or safe investments, such as short-term treasury securities. This will reduce systemic risks and avoid the kind of shadow banking issues that have plagued parts of the financial sector. Senator Bill Hagerty, the bill’s sponsor, said the GENIUS Act would allow businesses and consumers to make near-instant payments instead of waiting days or weeks for traditional banking settlements. Political Divisions and Trump’s Crypto Ties While the bill has gained bipartisan support, it initially faced hurdles. A cloture vote in May failed due to concerns from several Senate Democrats, many of whom questioned Donald Trump’s financial connections to the cryptocurrency industry. Senator Elizabeth Warren was one of the bill’s most vocal critics , alleging that Trump and his family could earn “hundreds of millions” through his USD1 stablecoin venture. Others, such as Senator Mark Warner, voiced caution but acknowledged the need for the United States to remain competitive in the evolving digital currency space. Coinbase Urges House to Pass CLARITY Act Swiftly Recently, Coinbase’s lobbying arm and several crypto firms urged the U.S. House of Representatives to swiftly pass the CLARITY Act . In a letter, several advocacy groups asked lawmakers to support the bill, emphasizing the need for clear rules as the crypto industry rapidly evolves. The CLARITY Act would define the regulatory roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Under the bill, the CFTC would oversee most crypto activities, while the SEC would continue to regulate crypto-related securities. As such, the SEC would provide the clarity developers, investors, and institutions need to innovate the U.S. market. The post Coinbase Stock Hits ATH as Market Eyes GENIUS Act Signing appeared first on TheCoinrise.com .
Tom Lee devoted a six-post thread on X yesterday to a single proposition: if companies treat Ethereum (ETH) the way MicroStrategy treats bitcoin, the token price need only follow the mathematics of balance-sheet absorption to reach roughly $30,000. Lee’s argument rests on the mechanics he says really powered MicroStrategy’s spectacular equity rerating. From 11 August 2020 through today the software company’s shares climbed from $13 to about $455, a 35-fold gain. Only eleven of those thirty-five turns came from bitcoin’s own rise—roughly $11,000 to $118,000 in the same period—while twenty-five turns were created by “treasury strategy,” Lee wrote, meaning repeated financings that increased BTC per share even faster than the coin’s spot price. Ethereum To $30,000? Lee lists three moves that made the template work and, in his view, will be even more potent for ETH: issuing new stock above net-asset value to acquire more tokens, exploiting token volatility to lower borrowing costs, and relying on convertibles or preferred shares to cap dilution. Because ether’s realised volatility still exceeds bitcoin’s, Lee argues the cost of debt-and-option structures used to lever the treasury can be driven lower still, accelerating token accumulation. Related Reading: Ethereum Road To $10,000: Replay Of May’s Playbook Predicts Another Breakout In the same thread he reposted a chart showing that his own vehicle, BitMine Immersion Technologies, purchased four times more notional value in its first week of activity ($1 billion in ETH) than MicroStrategy bought in its first week of bitcoin purchases back in 2020. BitMine’s numbers illustrate the scale. A regulatory filing and follow-up press release on 17 July confirmed the company now holds 300,657 ETH—just over $1 billion at the time of publication—after closing a $250 million private placement on 8 July. Lee, who chairs BitMine’s board, said the firm is “well on our way to acquiring and staking five per cent of the overall ETH supply.” The second-largest treasurer is SharpLink Gaming, chaired by Ethereum co-founder Joseph Lubin. On 17 July the company updated its SEC prospectus to increase the stock it can sell from $1 billion to $6 billion, saying proceeds will fund additional ETH purchases. SharpLink had already raised $413 million between 7 and 11 July and disclosed 280,706 ETH on its books as of 13 July, all but a few hundred of which are staked for yield. Related Reading: Ethereum Could Shoot Above $4,000 This Week, Predicts Analyst Bit Digital rounds out the trio. After a $172 million underwritten share sale on 7 July and the liquidation of 280 bitcoin, the Nasdaq-listed miner reported a treasury of 100,603 ETH and declared its intention to become “the pre-eminent ETH holding company in the world,” according to chief executive Sam Tabar. Taken together, the three firms now control roughly 682,000 ETH, or about half a per cent of the circulating supply, and each has active authorisations to issue more equity or debt expressly for ether accumulation. Lee insists the reflexive loop this creates—higher share prices providing ever-cheaper capital that buys still more token per share—can compress the time it takes for price to capture scarcity. Crypto analyst DCInvestor, responding to Lee’s thread, distilled the mathematics into a range: “Tom Lee basically calling for like $30-80K ETH. And some of you think we are gonna stop $1-2K after last cycle’s all-time high.” Ether changes hands today near $3,600. An eight-fold move to $30,000 would merely replicate the multiple that bitcoin logged between MicroStrategy’s first treasury purchase and its 2021 peak. The difference, Lee argues, is that MicroStrategy spent four years proving the model; Ethereum treasuries have taken less than two months to raise their first few billion dollars. Featured image created with DALL.E, chart from TradingView.com