This first week of July was defined by a dynamic mix of policy breakthroughs, institutional maneuvers, and sharp on-chain shifts.
From Congress gearing up for landmark crypto legislation to Bitcoin miners doubling down on BTC, these are the key stories in crypto this week.
U.S. Bitcoin ETFs rebound with $1B inflows, total nears $50B
U.S. spot Bitcoin exchange-traded funds (ETFs) recorded a remarkable $1 billion in net inflows over just two days this week, pushing total net inflows since their January 2024 debut to nearly $50 billion.
BlackRock’s iShares Bitcoin Trust (IBIT), which now manages $73.6 billion, led the surge after an unusual pause in early July.
This comeback reflects sustained institutional demand as Bitcoin briefly surpassed $110,000 before settling around $108,875.
Analysts highlighted that Bitcoin’s dominance climbed to 64.6%, a level often associated with altcoin rotations, suggesting risk-on sentiment remains strong despite short-term price corrections.
DOJ seizes $225M in crypto to compensate fraud victims
In a decisive move, the U.S. Department of Justice (DOJ) recovered $225 million in cryptocurrency tied to widespread “pig butchering” scams, one of the largest crypto asset seizures in American history.
Rather than waiting for overseas convictions, officials prioritized returning funds to victims, signaling a new enforcement strategy.
The scams devastated communities nationwide, even contributing to the 2023 collapse of Kansas-based Heartland Tri-State Bank.
DOJ officials emphasized that the focus remains on protecting everyday Americans, highlighting the human impact of crypto fraud beyond the headlines.
XRP whales dump $1.2B, threatening price recovery
XRP rose from $1.94 to $2.24 this week but faces critical resistance at $2.30 amid heavy selling from major holders.
Whales controlling between 100 million and 1 billion XRP offloaded over 600 million tokens worth roughly $1.2 billion within 24 hours, cutting their combined holdings to 7.7 billion XRP.
This selling spree triggered the highest “age consumed” spike in seven months, signaling waning long-term holder confidence.
Analysts warn that failure to break $2.30 could send XRP sliding back toward $2.13, undermining hopes of a sustained rebound and reinforcing bearish sentiment around the altcoin’s short-term prospects.
Congress prepares landmark Crypto Week with three major bills
U.S. lawmakers will kick off “Crypto Week” on July 14 to review three pivotal bills: the GENIUS Act (focused on stablecoin regulation), the CLARITY Act (aiming to clarify token classifications), and the Anti-CBDC Surveillance State Act (intended to block a federal CBDC).
The GENIUS Act, already passed by the Senate, promotes integrating stablecoins into mainstream finance and is expected to advance quickly.
Meanwhile, the CLARITY Act faces debate over its flexibility, and the Anti-CBDC Act remains stalled in committee.
Together, these proposals underscore Washington’s push to shape digital asset policy during President Trump’s administration.
Bitget Wallet and Mastercard launch fee-free crypto payments in Europe
Bitget Wallet, the flagship product from the reputable crypto exchange, partnered with Mastercard and Web3 payments firm Immersve to introduce a crypto card enabling zero-fee spending at over 150 million merchants globally.
Rolling out first in the UK and EU, the card integrates directly with digital wallets for seamless on-chain settlement and fiat conversion at the point of sale.
The card supports instant on-chain swaps and real-time crypto-to-fiat conversion, enabling users to pay with digital assets as easily as traditional currencies.
Expansion to Latin America, Australia, and New Zealand is planned for later this year.
MARA’s Bitcoin treasury tops 50,000 BTC amid miner HODL trend
Marathon Digital Holdings (MARA), one of the largest publicly traded Bitcoin miners, grew its BTC treasury to nearly 50,000 coins valued at $5.4 billion.
This milestone positions MARA as the second-largest corporate Bitcoin holder after Strategy (formerly MicroStrategy).
The miners’ “HODL” strategy mirrors a broader industry shift as miners reduce sell pressure, contributing to lower exchange balances and tighter market supply.
CEO Fred Thiel emphasized plans to evolve into a vertically integrated digital energy company, even as AI-related energy competition introduces new challenges to mining economics.
UK and Singapore deepen AI and tokenization partnership
The UK and Singapore concluded their 10th Financial Dialogue in London, agreeing to strengthen cooperation on asset tokenization and artificial intelligence.
Their joint initiatives, including Project Guardian and Global Layer One, aim to streamline cross-border tokenized asset trading and regulatory harmonization.
Both countries also committed to launching an AI Innovation Showcase in London, underlining efforts to foster responsible AI development without stifling innovation.
The agreement also includes closer work with industry groups, such as the UK Investment Association and the Investment Management Association of Singapore.
