On July 1st, the U.S. Securities and Exchange Commission (SEC) deferred its ruling regarding the integration of staking features into the Bitwise Spot Ethereum ETF. This delay reflects the regulator’s
Bitcoin maintains a strong position above $107,000, driven by bullish technical indicators and growing investor optimism, signaling a potential breakout ahead. Historical trends reveal July as a consistently strong month
American Bitcoin, a crypto venture backed by Eric Trump, has raised $220 million in a major Bitcoin mining push. The funds will be used to buy BTC mining equipment, a new filing by Hut 8 Corp. revealed. Per a Bloomberg report, about $10 million in equity was sold for Bitcoin rather than dollars on Friday, in a new share issuance to private investors. “The Company intends to use the net proceeds to fund its strategic and Bitcoin accumulation goals, which may include, but are not limited to, the purchase of Bitcoin and/or miners,” the filing read. Hut 8 Corp SEC filing . Source: Hut 8 American Bitcoin is a relatively new entity launched in March , which exclusively focuses on industrial-scale Bitcoin mining and strategic Bitcoin reserve development. The company is a majority-owned subsidiary of Hut 8. Eric Trump’s brother, Donald Trump Jr, said in May, “simply buying Bitcoin is only half the story,” adding that mining it becomes a bigger opportunity under favourable economics. Hut 8 Plans American Bitcoin Merger The report added that the company is pursuing a Nasdaq listing through a full stock merger with Gryphon Digital Mining. Following the merger, both the sons of President Trump, Eric Trump, Donald Trump Jr., along with existing shareholders, will retain 98% of the shares in the new entity, a move that was already announced in May . The newly combined entity will operate under the American Bitcoin brand and is expected to carry the ticker symbol “ABTC,” on Nasdaq. Hut 8’s Global Expansion Plans Additionally, a representative told Bloomberg on Monday that Hut 8 is planning to diversify operations, tapping into new markets. The mining giant has chosen Dubai as its next mining destination, given the city’s crypto-friendly environment. The expansion move is not related to the Trump-linked venture, the source added. The post Eric Trump-Backed American Bitcoin to Purchase BTC Mining Equipment, Raises $220M appeared first on Cryptonews .
On July 1st, Bloomberg ETF analyst James Seyffart provided an updated forecast on the likelihood of crypto spot ETF approvals by the end of 2025, signaling a potential surge in
Every crypto cycle delivers a few tokens that break all the rules—exploding in value, disrupting expectations, and turning early backers into millionaires. XRP did it in 2017. Shiba Inu followed in 2021. Now, in 2025, one new name is surging up the ranks: MAGACOIN FINANCE . Still in its presale phase, MAGACOIN FINANCE has already raised over $10 million and sold out multiple rounds in record time. The hype isn’t just noise. With projections ranging, analysts and investors alike are beginning to ask the big question: could MAGACOIN FINANCE actually become a top 10 cryptocurrency—just like XRP and SHIB did in their prime? Why Analysts Are Watching MAGACOIN FINANCE Closely Analysts are increasingly placing MAGACOIN FINANCE at the top of their 2025 watchlists—not just because of the numbers, but because of the timing. The presale is happening during a resurgence in altcoin interest. The branding is controversial enough to spark attention, but clean enough to drive serious adoption. And the community? It’s growing faster than almost any other presale project this year. XRP has the institutions. SHIB had the memes. MAGACOIN FINANCE is gunning for both. XRP Represents Stability, SHIB Proved Meme Power—MAGACOIN Offers Both XRP’s legacy is built on real-world utility and institutional ambition. Its post-SEC recovery has made it a symbol of crypto resilience, and its current market cap north of $35 billion places it firmly in the industry’s elite. But for many early XRP holders, the big run has already happened—and new entrants are unlikely to see 100x gains from here. Shiba Inu took the opposite route. It didn’t rely on banks or payments—it rode meme culture, community virality, and relentless momentum to briefly become one of the most valuable tokens in the world. It was chaotic, irrational, and wildly profitable. And for many retail traders, it was the template for how fast things can change when a narrative catches fire. Now, MAGACOIN FINANCE is drawing comparisons to both. It blends SHIB-style meme energy with disciplined tokenomics more typical of XRP. With a capped supply between 100 and 170 billion tokens, a 100% community-driven model, and a presale that’s moving at lightning speed, it’s easy to see why analysts are calling it “the breakout meme token with real structure.” Could MAGACOIN Realistically Reach the Top 10? To crack the top 10 by late 2025, MAGACOIN FINANCE would need a market cap of at least $23 billion—currently the level held by TRON. If it hit $1 per token, its market cap would soar to $100–170 billion, depending on supply—placing it alongside BNB, ETH, and even XRP. It’s a moonshot scenario, but that’s exactly what SHIB and XRP once were. In reality, MAGACOIN FINANCE is one of the most successful presales in recent memory—without needing to dethrone any incumbents. The point is not whether it can hit a $100 billion market cap overnight, but whether it can become the kind of cultural and market force that might get close. And for now, momentum is leaning in that direction. Conclusion: Is This the Next XRP or SHIB Moment? History shows that the crypto market rewards bold bets made early. XRP rewarded those who believed before the banks did. Shiba Inu made millionaires out of memecoin gamblers. MAGACOIN FINANCE may not follow the same path—but it’s showing signs of being that kind of story. If it sustains momentum, gets listed on major exchanges, and captures the attention of both meme traders and serious crypto backers, it might not just rise—it could rocket. Top 10 in 2025? That’s still speculative. But for now, MAGACOIN FINANCE is doing exactly what XRP and SHIB did before they made history. For more information, please visit: Website: magacoinfinance.com Exclusive Access: magacoinfinance.com/entry Continue Reading: Can MAGACOIN FINANCE Join XRP and Shiba Inu as a Top 10 Cryptocurrency in 2025?
Crypto venture capital firm Pantera has launched what it calls a “Digital Asset Treasury” (DAT) fund to provide investors with exposure to the new and rapidly expanding sector of crypto treasury companies that hold large amounts of digital assets on their balance sheets. A curious phenomenon has arisen, whereby public companies that purchase crypto for
PENGU traders can wait for a minor price dip before buying.
Government scrutiny over cryptocurrency intensified on both legal and enforcement fronts this week. In the United States, the Supreme Court declined to hear a case brought by a Coinbase user who claimed the IRS violated his Fourth Amendment rights by obtaining his financial data through a broad exchange summons. The decision lets a lower court ruling stand, reinforcing the government’s ability to access crypto transaction data for tax enforcement. Meanwhile in Europe, Europol announced the arrest of five individuals allegedly involved in a €460 million cryptocurrency investment fraud network spanning Spain, Hong Kong, and other jurisdictions. Supreme Court Declines Coinbase User’s Appeal in IRS Privacy Case, Raising Alarms Over Crypto Surveillance The United States Supreme Court has declined to hear a case brought by James Harper, a cryptocurrency user who alleged that the Internal Revenue Service (IRS) violated his Fourth Amendment rights by obtaining his personal financial data through a sweeping summons to Coinbase. The Court issued its decision on Monday, leaving in place a ruling by the US Court of Appeals for the First Circuit, which sided with the IRS. The case originated in 2020, when Harper sued the federal tax agency and several of its officials, claiming that they unlawfully conducted a search and seizure of his private financial information. Harper’s legal team argued that the IRS had overstepped its constitutional authority by demanding his user data from Coinbase without a warrant or individualized suspicion. At the heart of the case is a 2016 “John Doe” summons issued by the IRS to Coinbase, one of the largest cryptocurrency exchanges in the United States. The summons required the company to turn over account information for over 14,000 users who transacted more than $20,000 in Bitcoin between 2013 and 2015. Harper, who claims he properly reported his transactions and paid taxes, said he was swept up in the mass data collection effort despite having no direct contact with the agency beforehand. Harper’s lawsuit sought to challenge the legality of such sweeping data requests, arguing that they violated his right to privacy and constituted an unreasonable search under the Fourth Amendment. However, the US District Court for the District of New Hampshire dismissed the case in 2021, and the First Circuit later upheld that decision, effectively denying Harper legal recourse. Coinbase Weighs In With Support Coinbase itself filed an amicus curiae brief in support of Harper, warning the Supreme Court of the precedent the lower court ruling could set if left unchallenged. The company said the IRS’s broad approach could allow the government to “trace users’ every crypto transaction in the past and monitor every crypto transaction in the future,” raising significant concerns about financial surveillance. Paul Grewal, Coinbase’s Chief Legal Officer, was outspoken about the broader implications. In a post on X (formerly Twitter), he said: “We believe in tax compliance, but this goes far beyond a narrow and tailored request and far beyond crypto. This applies to banks, phone companies, ISPs, email, you name it [...] you should have the same right to privacy for your inbox or account as you have for a letter in your mailbox.” Despite these warnings, the Supreme Court’s decision not to review the case effectively allows the IRS to continue utilizing broad data requests to cryptocurrency platforms, sparking renewed debate over digital privacy rights in the U.S. The decision comes at a time of heightened IRS scrutiny on digital asset activity. According to crypto tax software firm CoinLedger, user mentions of IRS warning letters surged by 758% in support chats during the most recent tax season. While not all letters suggest wrongdoing, CoinLedger said many are linked to data obtained via John Doe summonses issued to exchanges such as Coinbase and Poloniex. “[IRS letters] don’t necessarily indicate wrongdoing,” CoinLedger noted. “In many cases, recipients are simply crypto investors known to the IRS through John Doe Summons.” As the IRS expands its efforts to enforce tax compliance in the rapidly evolving digital asset space, more investors are likely to find themselves in the agency’s crosshairs—often without prior notice. Implications for Digital Privacy and Constitutional Protections By refusing to hear Harper’s appeal, the Supreme Court has allowed a significant precedent to stand—one that critics argue could weaken Fourth Amendment protections in the digital age. Privacy advocates warn that the ruling could embolden federal agencies to use sweeping surveillance tactics not just in the cryptocurrency space, but across a range of digital platforms and services. With no further judicial review available, Harper’s case now becomes a cautionary tale for digital asset holders in the United States. It also raises urgent questions about the balance between tax enforcement and constitutional rights in an increasingly digital economy. Europol Arrests Five in $542M Crypto Fraud Crackdown Spanning Spain, US, France, and Estonia Meanwhile, in a sweeping international operation that shows the growing global focus on cryptocurrency-related crime, the European Union Agency for Law Enforcement Cooperation (Europol) announced the arrest of five individuals allegedly linked to one of Spain’s largest ever crypto investment fraud schemes. According to a statement released on Monday, the arrests were made by Spain’s Guardia Civil with support from Europol, the United States, France, and Estonia. Authorities allege that the network defrauded more than 5,000 victims out of €460 million—approximately $542 million at the time of publication—through a sophisticated web of deception involving fake crypto investment products, shell companies, and international money laundering techniques. The coordinated crackdown took place last Wednesday, with three suspects apprehended and properties searched in Spain’s Canary Islands, while two more arrests were executed in Madrid. These raids led to the seizure of electronic devices, documents, and bank records believed to be connected to the fraudulent scheme. Authorities believe the operation was led by a core group of individuals who oversaw a network of global accomplices. These associates were responsible for soliciting funds from unsuspecting investors through a variety of channels, including direct bank transfers, crypto transfers, and even cash withdrawals. “To carry out their fraudulent activities, the leaders of the criminal network allegedly used a net of associates spread around the world to raise funds through cash withdrawals, bank transfers and crypto-transfers,” Europol said in its statement. Shell Companies and Hidden Funds As part of the investigation, officials discovered a vast corporate and banking infrastructure allegedly designed to obscure the flow of criminal proceeds. This included companies registered in Hong Kong and user accounts at various crypto exchanges under fictitious or borrowed identities. Payment gateways were also reportedly exploited to funnel illicit gains across jurisdictions and convert them into hard-to-trace assets. “Investigators suspect the criminal organisation of having set up a corporate and banking network based in Hong Kong, allegedly using payment gateways and user accounts in the names of different people and in different exchanges to receive, store and transfer criminal funds,” Europol added. This operation follows months of investigative work, including digital forensics, financial surveillance, and inter-agency intelligence sharing. In January, Spanish authorities had already frozen over $26 million in digital assets tied to a similar money laundering probe, which may now be linked to the same criminal organization. The arrests come amid a wave of international crackdowns on cryptocurrency investment scams. Just last month, the US Department of Justice announced the seizure of more than $225 million connected to so-called ”pig butchering” schemes. In these cases, scammers build trust with victims over time—often through social engineering on dating apps or messaging platforms—before persuading them to pour large sums into fake crypto investments. In a separate case also reported in June, five men pleaded guilty in a US federal court to running a $37 million crypto scam involving assets being transferred to Cambodia. These cases highlight the cross-border nature of digital financial crime and the increasing willingness of law enforcement agencies to work together in response. A Call for Stronger Regulation and Investor Vigilance The $542 million fraud in Spain shows not only the sophistication of modern financial crime but also the urgent need for clearer regulatory frameworks around digital asset investments. Authorities are urging potential investors to exercise caution and verify the legitimacy of any crypto-related opportunity—especially those promising high or guaranteed returns. Europol continues to emphasize that successful prosecution of such schemes relies on strong international cooperation and technological expertise. With billions at stake and criminal networks growing bolder, cross-border law enforcement partnerships are likely to become the norm in the fight against digital financial fraud.
Mark Zuckerberg has launched a new research group inside Meta focused on advanced artificial intelligence (AI) development .
Bitcoin closed June at a record monthly high of $107,100, signaling strong momentum despite a spinning top candlestick pattern indicating market indecision. Historical trends and expert analysis suggest a potential