Four Australian men, including former barrister Dimitrios Podaridis, are facing money laundering charges for allegedly facilitating sophisticated investment scams that converted victim funds into crypto between January and July 2021. The Australian Securities and Investments Commission alleg es the defendants operated fake investment comparison websites and Facebook advertisements to attract investors with fraudulent bonds offering fixed returns between 4.5% and 9.5% annually. Professional Documentation Masks Crypto Conversion Scheme ASIC charged Podaridis alongside Peter Delis, Bassilios Floropoulos, and Harry Tsalikidis for recklessly dealing with proceeds of crime while not directly operating the investment scams. The scheme allegedly used high-quality fake prospectuses mimicking major financial services providers to convince victims to deposit funds into Australian bank accounts before transferring money to offshore accounts and crypto exchanges. These latest charges come as Australia intensifies its crackdown on cryptocurrency-related financial crimes, with authorities recently shutting down massive criminal operations and implementing enhanced oversight of crypto exchanges. ASIC has disabled over 10,000 malicious websites while processing 1,500 victim claims totaling $35.8 million in losses across 14 countries. Australian authorities have charged four individuals over a scheme that allegedly laundered $123 million through businesses and crypto. #Australia #aml https://t.co/uV1errA8TV — Cryptonews.com (@cryptonews) June 9, 2025 Recent enforcement actions also include restraining $123 million in assets from a Gold Coast security company’s money-laundering network and charging operators who converted cash into cryptocurrency through complex banking arrangements. Regarding these latest charges, the Commonwealth Director of Public Prosecutions will handle the prosecution following ASIC’s referral, with committal proceedings scheduled for October 30, 2025. ASIC Targets Investment Scam Network Using Professional Documentation The alleged investment scam utilized sophisticated marketing techniques, including fictitious comparison websites and targeted social media advertising, to reach potential victims. Scammers contacted interested investors through telephone and email, providing professionally crafted documentation that closely resembled legitimate financial services materials. The fraudulent investment offerings ranged from one to ten years, with attractive fixed returns designed to appeal to conservative investors seeking stable income. ASIC alleges the defendants controlled Australian bank accounts that received victims’ deposits before quickly transferring funds internationally to avoid detection. The investigation began after ASIC received multiple complaints from both consumers and corporate entities who had been defrauded. The regulator’s analysis revealed patterns of fund movement from domestic accounts to offshore locations and cryptocurrency platforms, establishing the money-laundering network’s operational structure. Tsalikidis allegedly aided and abetted the other three defendants while not directly controlling bank accounts used in the scheme. The defendants also allegedly exploited trust in traditional financial institutions by copying authentic documentation and branding to legitimize their fraudulent offerings. Crypto Crime Enforcement Accelerates Across Multiple Agencies Australian authorities have dramatically expanded cryptocurrency crime enforcement through coordinated multi-agency operations targeting money laundering networks. The Queensland Joint Organised Crime Taskforce executed 14 search warrants and restrained $21 million in assets from a security company laundering operation that processed $190 million in illicit funds. ASIC has shuttered an average of 130 scam websites weekly while deregistering 95 companies linked to international “pig butchering” schemes . The Federal Court approved winding-up orders after finding that companies were registered using false information to provide legitimacy to fraudulent investment platforms. Similarly, in April, AUSTRAC enhanced oversight of crypto exchanges by warning that inactive platforms face deregistration while launching a publicly searchable registry for consumer verification. The agency contacted dormant registered exchanges among 427 businesses to prevent criminal exploitation of legitimate registrations. These large-scale scams are not limited to Australia alone. Recent phishing attacks have cost individual investors millions , including a $3.05 million Tether loss and $900,000 approval transaction exploit. A crypto investor has fallen victim to a phishing scam, losing $3.05 million in USDT after signing a malicious blockchain transaction. #Scam #Crypto https://t.co/CnB0GNgIo4 — Cryptonews.com (@cryptonews) August 6, 2025 CertiK recently reported $2.2 billion in crypto losses during the first half of 2025, with wallet breaches causing $1.7 billion across 34 incidents and phishing scams accounting for $410 million through 132 attacks. Most recently, YouTube account hijacking schemes promoted fake crypto trading bots that drained investor funds once users deposited minimum amounts of Ethereum. Attackers collected over $939,000 through multiple wallet addresses while using AI-generated videos and managed comment sections to create false legitimacy. While Australia is cautious about crypto, the country has recently started its wholesale CBDC testing through Project Acacia , where 24 industry participants will conduct real-money transactions across multiple digital asset platforms. ASIC granted regulatory relief to facilitate the six-month pilot program examining tokenized assets and central bank digital currency applications. The post Australian Crypto Laundering Crackdown: ASIC Charges Four Over $35M Fake Bond Scam appeared first on Cryptonews .
BitcoinWorld The Sandbox Game Maker: Unleashing Revolutionary Metaverse Experiences Get ready to dive deeper into the virtual world! The Sandbox (SAND), a leading social gaming metaverse project, recently rolled out a significant product update: The Sandbox Game Maker 0.12 . This launch marks a pivotal moment for creators and players alike, promising to transform how we experience and interact within the metaverse. What’s New in The Sandbox Game Maker 0.12? The latest iteration of The Sandbox Game Maker brings a host of exciting enhancements designed to enrich the creative process and player engagement. This update, as reported by Crypto Briefing, focuses on core functionalities that truly elevate the metaverse gaming experience. New Multiplayer Tools: Creators now possess more robust tools to design immersive multiplayer experiences, fostering greater social interaction within games. Enhanced Movement Abilities: Players can enjoy more fluid and diverse character movements, making exploration and gameplay feel more natural and dynamic. Cinematic UI Improvements: The user interface receives a visual overhaul, providing a more polished and engaging aesthetic that enhances the overall presentation of games. Progress Saving Features: A crucial addition, this allows players to save their progress within games, ensuring continuity and a more rewarding long-term engagement. Enhancing Your Metaverse Gaming Experience How do these new features translate into a better experience for you, the player? The integration of advanced multiplayer capabilities means more collaborative adventures and competitive challenges. Imagine building alongside friends or battling foes in seamlessly connected virtual spaces. The improved movement abilities provide greater freedom, whether you are traversing vast landscapes or navigating intricate puzzle rooms. Furthermore, the cinematic UI enhancements contribute to a more professional and captivating presentation, drawing players deeper into the narratives and environments built by creators. Saving your progress means you can pick up exactly where you left off, making every session more meaningful. The Impact on Web3 Gaming and Creators This substantial SAND crypto update is not just about new features; it represents a significant step forward for the broader Web3 gaming ecosystem. For creators, Game Maker 0.12 simplifies the development of complex and engaging experiences. They can now implement sophisticated game mechanics and narratives with greater ease, pushing the boundaries of what is possible within user-generated content. The Sandbox continues to empower its community, providing the tools necessary to build a truly decentralized and vibrant metaverse. This commitment to creator empowerment is fundamental to the growth and sustainability of the entire platform. Why This SAND Crypto Update Matters The launch of Game Maker 0.12 reinforces The Sandbox’s position as a leader in the blockchain gaming space. For holders of the SAND token, this update signifies continued development and increased utility for the platform. A more robust and engaging platform naturally attracts more users, creators, and economic activity, potentially increasing demand for SAND. This focus on core product improvement demonstrates The Sandbox’s dedication to delivering on its vision of an open, player-owned metaverse. It is a clear signal that the project is committed to long-term growth and innovation in the evolving landscape of metaverse gaming . In conclusion, The Sandbox Game Maker 0.12 update is a game-changer for the social gaming metaverse. By introducing powerful new tools for multiplayer interaction, improved player movement, enhanced visuals, and crucial progress-saving features, The Sandbox is not just updating a product; it is actively shaping the future of digital experiences. This development promises a richer, more engaging, and more persistent metaverse for everyone involved, solidifying its place at the forefront of Web3 gaming innovation. Frequently Asked Questions (FAQs) What is The Sandbox Game Maker? The Sandbox Game Maker is a free software that allows anyone to create 3D games and experiences within The Sandbox metaverse without needing to write code. It provides intuitive tools for designing environments, characters, and game logic. What are the key features of Game Maker 0.12? Game Maker 0.12 introduces new multiplayer tools, enhanced player movement abilities, cinematic user interface improvements, and crucial progress-saving features for games built on the platform. How does this update affect SAND token holders? The update enhances the utility and appeal of The Sandbox platform, which can lead to increased adoption and activity. This increased demand and usage within the ecosystem can positively impact the value and utility of the SAND token. Is The Sandbox a play-to-earn game? While The Sandbox is primarily a user-generated content platform, it incorporates play-to-earn elements. Players and creators can earn SAND tokens by playing games, creating assets (ASSETS), owning land, and participating in the ecosystem. What is metaverse gaming? Metaverse gaming refers to games played within persistent, interconnected virtual worlds where users can interact with each other, create content, and own digital assets, often powered by blockchain technology and cryptocurrencies. Did you find this article insightful? Share it with your friends and fellow metaverse enthusiasts on social media to spread the word about the exciting advancements in The Sandbox! To learn more about the latest Web3 gaming trends, explore our article on key developments shaping metaverse gaming institutional adoption. This post The Sandbox Game Maker: Unleashing Revolutionary Metaverse Experiences first appeared on BitcoinWorld and is written by Editorial Team
The executive order will allow cryptocurrencies and other alternative investments, such as private equity, to be held in U.S. retirement plans. Bitcoin Climbs as Trump Set to Greenlight Crypto in Retirement Plans U.S. President Donald Trump will sign an executive order on Thursday that paves the way for 401(k) retirement plans to hold alternative assets
🚀 Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! XRP’s recent whale
Sui ($SUI) rose 8.7% to $3.73 as institutional adoption and DeFi innovations continue to fuel its path toward $4. With a $13 billion market cap and growing developer activity, the Layer-1 blockchain is proving it’s more than just another altcoin pump. Source: CoinGecko Sui’s DeFi Growth, zkTunnels, and Real-World Integrations Boost Adoption One of the standout innovations is Sui Network’s integration of zkTunnels , a new technology that supports real-time, fee-free operations in IoT robotics. This upgrade could considerably improve how smart devices communicate and execute tasks, an important step for merging blockchain with real-world industries. Institutional confidence in Sui is strong, exemplified by Mill City Ventures, a publicly traded company that invested $450 million in $SUI tokens. This substantial treasury adoption shows the trust large investors place in the network’s long-term potential. Welcome to Sui, Mill City Ventures. With Mill City’s launch today, everyone can access Sui on Nasdaq. Together, we are showing what’s possible when blockchain is built for mass adoption. Public market access unlocks greater retail and institutional participation—and a stronger… pic.twitter.com/2m3UBTeZTM — Sui (@SuiNetwork) August 1, 2025 Institutional adoption continues with AMINA Bank in Switzerland becoming the first globally regulated bank to offer custody and trading services for SUI tokens, demonstrating growing legitimacy and institutional integration. As we previously reported , AMINA had integrated Ripple’s RLUSD. Sui is also disrupting the $600 billion digital advertising industry through its partnership with decentralized ad platform Alkimi. By bringing ad transactions on-chain, the collaboration between the firms ensures faster, more transparent, and fraud-resistant ad delivery, making a massive leap toward Web3-powered marketing. The Sui Stack is taking digital advertising onchain. @alkimiexchange is leading the charge – and global brands like: @awscloud @tiktok_us @polestarcars @currys Here’s how they’re rebuilding a $750B industry on Sui pic.twitter.com/1UcVMeXZrI — Sui (@SuiNetwork) August 6, 2025 To improve internal tech, Sui has joined hands with Google Cloud, integrating AI-powered APIs, advanced data analytics, and real-time chain indexing via BigQuery, positioning the blockchain as a next-gen network for enterprise adoption. Source: DefiLlama Sui continues its growth in DeFi, with its Total Value Locked (TVL) now standing at $2.093 billion, a strong indicator of its trajectory toward $4 and on the path to $10 . On the financial front, Bluefin, the leading decentralized exchange on Sui, launched Bluefin7K . This is a native aggregator that finds the best trading rates by routing trades across different DEXs on Sui, giving users deep liquidity and better prices. Meanwhile, Volo, the largest liquid staking platform on Sui, has introduced the Volo wBTC Vault, a unique product that allows users to tap into Bitcoin liquidity within Sui’s ecosystem using a single command. Do more with your BTC on Sui. @volo_sui ’s new wBTC Vault unlocks Bitcoin yield with one click. Backed by @navi_protocol . Secured by Sui. https://t.co/If2lRllH58 — Sui (@SuiNetwork) August 7, 2025 To ensure it can handle all this growth, Sui has also rolled out beta support for gRPC APIs , facilitating real-time data streaming for exchanges and developers. SUI Market Breakdown—Rising Wedge Aftermath and Fresh Volume Momentum Sui’s recent price movement shows a clear breakdown of the rising wedge formation. The 4-hour chart shows a broad wedge that took shape over several weeks in July, eventually breaking down with a steep drop from $3.7, slicing through support levels on high bearish momentum. That breakdown was brutal, pushing SUI below $3.20 before bulls started accumulating. However, what’s interesting now is the attempt at recovery. The price has clawed back to the $3.73 level, pushing against resistance where the wedge first began to crack. $SUI’s volume data isn’t spectacular, but it’s growing. There are visible but slightly healthier green bars that have emerged as buyers attempt to regain more ground. That’s where the volume footprint helps clarify the story. On the 4-hour volume footprint, the shift in balance is clear. Earlier in the journey, heavy sell imbalances (deltas like -176K and -146K) dominated, showing aggressive market selling. But recently, that’s changed rapidly. The latest candle shows a total volume of 2.77M with a positive delta of 310K, suggesting that buyers are finally pushing back, slowly absorbing offers, and could possibly take control. Despite these moves, the previous few candles show sellers were quite active, evident in those large red deltas and stacked sell blocks at key points of interest levels. But with back-to-back green deltas of 1.27M and 3.49M before the most recent candle, it’s looking like the bulls are slowly grinding back in. While the indicators and the volume are leaning bullish, the momentum must continue to build up to flip this breakdown into a full-blown bullish reversal. The post Sui ($SUI) Rallies 8.7% as $450M Institutional Bet Signals Fresh Run Toward $4 appeared first on Cryptonews .
BitcoinWorld Debanking Crackdown: Trump’s Bold Order for Financial Freedom A significant shift is on the horizon for the financial landscape. Former U.S. President Trump is preparing to sign an executive order that directly targets the practice of ‘debanking.’ This move aims to protect individuals and businesses from being denied financial services based on their political or ideological views. It represents a bold step towards ensuring broader financial inclusion and challenging what some perceive as financial censorship. What is Debanking and Why Does it Matter? Debanking refers to the practice where banks or financial institutions close or deny services to clients. Often, this happens without clear justification, sometimes due to ideological differences or perceived ‘reputational risk.’ This can severely impact individuals and businesses, making it difficult to operate in the modern economy. Impact on Individuals: People might lose access to basic banking services, affecting their ability to manage finances. Impact on Businesses: Companies, especially those in emerging sectors like crypto, face hurdles in accessing capital and processing transactions. The Core Issue: It raises concerns about fairness, free speech, and the power financial institutions wield. Trump’s Executive Order: A Game Changer for Regulatory Guidance? The upcoming executive order seeks to penalize financial institutions that engage in debanking for ideological reasons. Crucially, it also aims to remove “reputational risk” as a justification for denying services from regulatory guidance. This could significantly alter how banks assess and onboard clients. For years, financial regulators have advised banks to manage ‘reputational risk.’ However, critics argue this guidance has been misused to justify debanking clients involved in controversial but legal industries. This order could empower regulators to intervene when such practices occur. The Crypto Connection: Ensuring Crypto Access and Fairness This executive order comes at a critical time for the cryptocurrency industry. Major bank groups have recently urged the Office of the Comptroller of the Currency (OCC) to block banking license bids from prominent crypto firms. These firms include industry giants like Ripple and Fidelity. The potential order could create a more level playing field for crypto businesses. If financial institutions are penalized for ideologically driven debanking, it could open doors for crypto companies to gain better access to traditional banking services. This could foster greater financial inclusion within the digital asset space. Addressing Financial Censorship and Future Outlook Many see debanking as a form of financial censorship, where institutions dictate who can participate in the economy. This order attempts to push back against such practices, promoting a more open and fair financial system. However, implementing and enforcing such an order will present challenges. Regulators will need clear guidelines to distinguish legitimate risk management from ideological discrimination. The financial industry will also need to adapt to these new directives. Ultimately, this move could set a precedent for how financial services are provided, emphasizing principles of fairness and non-discrimination. In conclusion, the impending executive order targeting debanking signifies a pivotal moment for financial freedom and the cryptocurrency sector. By seeking to penalize ideological debanking and remove ‘reputational risk’ as a blanket excuse, the order aims to foster a more inclusive and equitable financial system. This could unlock new opportunities for businesses and individuals, especially those in the crypto space, by ensuring their right to access essential banking services without undue financial censorship. Frequently Asked Questions (FAQs) What does ‘debanking’ mean in simple terms? Debanking is when a bank or financial institution closes your account or refuses to offer you services, often without a clear reason or due to perceived risks that are not directly financial. How might this executive order affect cryptocurrency companies? This order could make it easier for cryptocurrency companies to access traditional banking services. It aims to prevent banks from denying services based on ideological reasons, which has often been a barrier for crypto firms seeking financial inclusion. What is ‘reputational risk’ in the context of banking? ‘Reputational risk’ refers to the potential for a bank’s reputation to be damaged by associating with certain clients or industries. The order seeks to prevent this from being used as an excuse for ideological debanking. Will this order completely stop banks from denying services? No, banks can still deny services for legitimate reasons, such as fraud prevention or non-compliance with regulations. However, the order aims to curb denials based purely on ideological grounds or vague ‘reputational risk’ concerns. Who benefits most from an order against debanking? Individuals and businesses that have faced or fear facing service denial due to their views or industry (like crypto) stand to benefit. It promotes greater financial freedom and aims to reduce financial censorship. Did you find this article insightful? Share it with your network to spread awareness about the evolving landscape of financial freedom and crypto access! To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin institutional adoption . This post Debanking Crackdown: Trump’s Bold Order for Financial Freedom first appeared on BitcoinWorld and is written by Editorial Team
Built with Provenance Blockchain, NUVA offers institutional-grade tokenized assets like stablecoin securities and HELOCs.
BitcoinWorld RWA Tokenization: Plume & Mercado Bitcoin Unlock Massive $40M Milestone The world of finance is rapidly evolving, and at its forefront is RWA tokenization – the process of converting tangible assets into digital tokens on a blockchain. This exciting innovation just saw a significant leap forward as Plume, a blockchain platform specializing in regulated Real World Assets , announced a groundbreaking collaboration with Brazilian crypto exchange Mercado Bitcoin . Together, they successfully tokenized an impressive $40 million worth of RWAs in just four months. This achievement marks a pivotal moment, showcasing the immense potential of digital asset tokenization . What is RWA Tokenization and Why Does it Matter for Real World Assets? You might be wondering, what exactly is RWA tokenization ? Simply put, it involves taking traditional assets – anything from real estate and art to commodities and intellectual property – and representing their ownership as digital tokens on a blockchain. This process brings several transformative benefits to the table. Increased Liquidity: Assets that were once illiquid can now be easily traded on global markets. Fractional Ownership: Investors can own a piece of high-value assets without buying the whole thing, making investments more accessible. Enhanced Transparency: Blockchain’s immutable ledger provides a clear, verifiable record of ownership and transactions. Reduced Costs: Streamlined processes can cut down on intermediaries and associated fees. This development is particularly exciting for the future of Real World Assets , promising to unlock new investment opportunities and democratize access to previously exclusive markets. Plume Blockchain and Mercado Bitcoin: A Synergistic Partnership in Digital Asset Tokenization The recent $40 million milestone highlights the power of strategic alliances. Plume blockchain focuses specifically on the regulated aspect of RWA tokenization , ensuring compliance and security, which are crucial for institutional adoption. Their expertise in navigating complex regulatory landscapes makes them a key player in this burgeoning field. On the other hand, Mercado Bitcoin , as one of Latin America’s largest cryptocurrency exchanges, provides the necessary infrastructure and a vast user base to facilitate the trading and management of these tokenized assets. This collaboration effectively bridges the gap between traditional finance and the decentralized world, demonstrating how digital asset tokenization can thrive when robust technology meets established market access. Over a mere four-month period, their combined efforts led to the successful digitization of a substantial portfolio of assets, setting a new benchmark for the industry. What’s Next for RWA Tokenization? The Ambitious $500M Goal This $40 million achievement is just the beginning. Plume has already set an ambitious new target: the tokenization of $500 million worth of Real World Assets . This bold goal signals a strong belief in the scalability and demand for tokenized assets. Reaching this milestone would significantly expand the reach and impact of RWA tokenization , attracting more institutional and retail investors alike. The ongoing trend towards digital asset tokenization suggests a future where almost any asset can be fractionalized and traded globally. This move by Plume and Mercado Bitcoin is a clear indicator of this trajectory, paving the way for a more inclusive and efficient financial ecosystem. Are There Challenges in This Exciting New Frontier for Digital Asset Tokenization? While the prospects are bright, the journey of RWA tokenization is not without its hurdles. Regulatory clarity remains a key challenge globally. Different jurisdictions have varying approaches to digital assets, which can complicate cross-border transactions and compliance. Moreover, ensuring the legal enforceability of tokenized ownership in the physical world requires robust frameworks. However, projects like Plume, with its focus on regulated tokenization, are actively working to address these concerns, building compliant solutions that instill confidence in the market for Real World Assets . Unlocking New Investment Opportunities: What Does This Mean for You? For investors, the growth of RWA tokenization opens up exciting new avenues: Diversification: Access to a broader range of asset classes, including those traditionally out of reach. Global Access: Invest in assets located anywhere in the world, often with lower barriers to entry. Enhanced Liquidity: Potentially easier exit strategies compared to traditional illiquid investments. As the market matures, we can expect more diverse offerings and greater integration with existing financial systems, further propelling digital asset tokenization . Conclusion: The Dawn of a New Era for Digital Assets The successful tokenization of $40 million in Real World Assets by Plume and Mercado Bitcoin is more than just a number; it’s a powerful testament to the transformative potential of RWA tokenization . This collaboration underscores a growing trend towards digitizing traditional finance, making assets more accessible, liquid, and transparent. As they set their sights on the $500 million goal, we are witnessing the unfolding of a new era where digital assets are poised to reshape global investment landscapes. The future of finance is undoubtedly tokenized, and these pioneers are leading the charge. Frequently Asked Questions (FAQs) Q1: What is RWA tokenization? A1: RWA tokenization is the process of converting real-world, tangible assets (like real estate, art, or commodities) into digital tokens on a blockchain, representing ownership or a share of the asset. Q2: Who are Plume and Mercado Bitcoin? A2: Plume is a blockchain platform focused on the regulated tokenization of Real World Assets. Mercado Bitcoin is a major cryptocurrency exchange based in Brazil, providing infrastructure for digital asset trading. Q3: What is the significance of tokenizing $40 million in RWAs? A3: This milestone demonstrates the increasing viability and demand for tokenized assets, showcasing a successful large-scale implementation of RWA tokenization in a relatively short period. Q4: What are the key benefits of RWA tokenization? A4: Benefits include increased liquidity for traditionally illiquid assets, fractional ownership opportunities, enhanced transparency through blockchain, and reduced costs by cutting out intermediaries. Q5: What are the next goals for Plume and Mercado Bitcoin? A5: Plume has set an ambitious target to tokenize an additional $500 million worth of Real World Assets, indicating a strong belief in the continued growth of digital asset tokenization. Q6: Are there any challenges to RWA tokenization? A6: Yes, key challenges include navigating complex and evolving regulatory landscapes across different jurisdictions, and ensuring the legal enforceability of tokenized ownership in the physical world. Did this article shed light on the exciting future of RWA tokenization? Share your thoughts and help spread the word about these groundbreaking developments! Follow us on social media for more insights into the evolving world of digital assets. To learn more about the latest RWA tokenization trends, explore our article on key developments shaping digital asset tokenization institutional adoption . This post RWA Tokenization: Plume & Mercado Bitcoin Unlock Massive $40M Milestone first appeared on BitcoinWorld and is written by Editorial Team
Germany’s industrial output dropped in June to its lowest level since 2020, the year when the coronavirus pandemic swept the planet, paralyzing the global economy. The decline in German production, which comes amid weak demand and slow growth abroad, coincided with a continued decrease in industrial orders. The trend sets in as the country’s export-oriented economy prepares for the impact of U.S. tariffs and stiffer competition from Chinese manufacturing. Industrial production in Germany returns to pandemic volumes German industrial output fell 1.9% last month over the previous month, the Federal Statistical Office announced Thursday, quoted by Reuters. The figure exceeds the 0.5% drop expected by polled analysts, the news agency pointed out. With the monthly decline, production in the Bundesrepublik reached its lowest point since May 2020, the time when the economy was shrinking under the burden of measures introduced to limit the spread of the raging Covid-19 virus. Provisional data suggesting a 1.2% increase in May was also revised by Destatis to a negative 0.1%, compared to April, as a result of corrections in the numbers coming from Germany ’s massive automotive industry. Production index for German industry. Source: Statistisches Bundesamt ( Destatis ) The indicator was down in quarterly terms as well, by 1.0% in Q2, returning to levels last registered during the first half of the same pandemic year, the official stats revealed. That’s despite earlier signs that German production might be recovering from last year’s sharp drop. Carsten Brzeski, global head of macro for ING Research, expressed concern that the latest figures may result in a downward revision of the estimated 0.1% contraction of Germany’s gross domestic product (GDP) in Q2, 2025. He commented for Reuters: “Our previous view that the German economy would at least experience a cyclical rebound has come under enormous pressure. At face value, industry remains stuck in a very long bottoming out.” Industrial orders surprised analysts, too, falling by 1% in June. They are moving in that direction for a second month in a row. The unexpected decrease has been largely attributed to weaker foreign demand for German products. Germany’s exports rise mainly due to EU deliveries At the same time, however, German exports rose 0.8% month-on-month, surpassing the forecasted 0.5% and 2.4% over June 2024, reaching €130.5 billion (almost $152 billion), according to the country’s statistical office. Shipments to other member states of the European Union increased by 2.4%, while those to non-EU countries registered a 1.2% decrease. Exports to the United States fell by 2.1% compared with the previous month. This is the third consecutive monthly drop, and the figures are at their lowest level since early 2022. Weaker U.S. demand came after months of strong purchases in anticipation of President Donald Trump’s tariffs . Germany’s export-dependent economy is likely to suffer under his policies as the United States is Berlin’s biggest trading partner. Meanwhile, imports increased by 4.2% over May, to €115.6 billion euros ($134.5 billion), and the Federal Republic’s foreign trade surplus shrank to under €15 billion (around $17.4 billion) from May’s €18.5 billion and last June’s €20.3 billion ($23.6 billion). “The medium-term outlook for German industry remains poor as weak growth in both Europe and China, and rising competition from Chinese producers is likely to weigh heavily on demand for German industrial goods,” concluded Franziska Palmas, senior Europe economist at the Capital Economics research group. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
XRP surged past the $3 mark for the first time in over a week, driven by mounting optimism that the U.S. Securities and Exchange Commission (SEC) may soon dismiss its appeal against Ripple Labs. The token climbed over 4.5% in 24 hours to hit $3.04 on Thursday, according to data from Cointelegraph. The rebound came amid growing speculation that a resolution to the years-long legal battle between the SEC and Ripple is approaching. Bill Morgan Predicts Appeal Dismissal Investor sentiment was further bolstered by legal commentary from Bill Morgan, an attorney closely following the case. Posting on X, Morgan suggested that the SEC is likely to drop its appeal before the August 15 deadline set by the U.S. Court of Appeals for the Second Circuit. “Dismissal of the appeals may happen, and is more likely to happen than not, before the 15 August deadline to report to the appeal court on the status of the appeals,” he said. Morgan pointed out that Ripple had already agreed to dismiss its own appeal and that both sides had previously signed a conditional settlement agreement. Although the terms of that agreement were not satisfied at the time, the groundwork remains for a conclusion if court conditions are met. While the parties could request an extension from the court, Morgan believes this is unlikely. Legal Milestone Could End Years-Long Battle The upcoming joint report from Ripple and the SEC to the Second Circuit could mark a critical turning point. If the appeal is dismissed and the court grants approval, the case may be finalized and returned to the district court for formal settlement authorization. That would effectively bring an end to one of the longest-running legal battles in crypto history. SEC vs Ripple: A Pivotal Case in Crypto Regulation The SEC originally filed its lawsuit against Ripple in December 2020, accusing the company of raising $1.3 billion through unregistered securities sales via XRP. The case has since become a central issue in debates over crypto regulation. In July 2023, Judge Analisa Torres ruled that XRP does not constitute a security when sold to retail investors, though it is a security in institutional sales. That ruling marked a partial win for Ripple but also resulted in a $125 million fine levied in August 2024. Settlement Efforts Underway Efforts to resolve the dispute have continued. On June 12, Ripple and the SEC filed a joint motion to release the $125 million held in escrow for settlement purposes. The proposed split would allocate $50 million to the SEC and return $75 million to Ripple, pending court approval. If accepted, the payment would likely close the case—ending nearly five years of legal friction that has weighed heavily on XRP’s price and investor confidence. Broader Market Implications The outcome of this case could have far-reaching consequences beyond Ripple. Many in the crypto industry view it as a precedent-setting event that could clarify how digital assets are regulated in the United States. A favorable resolution for Ripple may also encourage other crypto firms to challenge the SEC’s regulatory stance.