Welcome back DDians! The world averted a potential World War, and crypto markets didn’t crash. Overall, our worst nightmares didn’t come true. Phew! As long as the Israel-Iran ceasefire holds and the world doesn’t spiral into another tariff drama, we are good.
And even if situations do get out of control, don’t worry, we’ve got your back. Because we got a lot of hopium to keep your spirits high, and summer in crypto land is about to get brighter than ever😎
Here’s what we have for you in this issue –
- Bitcoin inflows > outflows despite geopolitics
- Incoming: Crypto regulation bills in the US
- Bit Digital’s switch to the other side
- Tether’s boarding the AI train
- The $COIN frenzy
The Crypto Badger Doesn’t Give A S*** About Geopolitical Drama😏
The last few days were all about missiles being fired across borders, consequent damage, both human and economic, and media-led mud slinging. Exclusive “X” drama, and more drama.
Source: @khamenei_ir
While we did witness a retracement in the markets, overall, the crypto honeybadger didn’t flinch.
Source: @GIPHY
Crypto Badger’s Been Busy Building Up Strength💪
Markets may not seem to be reacting aggressively, but accumulation is happening under the hood.
- Bitcoin ETFs saw $600 million in inflows on Wednesday — a big jump from the June 20 trough of $6.4 million.
- Ethereum ETFs bounced back with $60.4 million in inflows after briefly slipping into outflow territory.
Source: @army_shiba
Retail interest may be lacklustre, but the Big Boys are betting heavily on crypto’s bright future.
Liquidity dried up during peak escalation, but now participants are watching for confirmation that the worst is behind them, all while building up massive bullish positions for a positive confirmation.
The focus has shifted away from missiles. Macroeconomic pointers will now guide the way ahead. And, we will be watching.
The Time For Talking Is Over, The Time For Action Regulation Is Nigh🙎🏼
Two landmark crypto regulation bills are set to officially become law in the United States.
In a rare show of alignment, the White House, Senate Banking Chair Tim Scott, and pro-crypto Sen. Cynthia Lummis are eyeing September 30 as the deadline to finalize two long-awaited bills: one to regulate stablecoins and the other to define market structure for digital assets.
The plan is clear
- Drafts by August
- Markup and movement by September
- Two bills, two tracks: One for stablecoins, one for broader market structure
- No merging, despite earlier rumors—they’re being pushed separately
Bo Hines, Executive Director of the President’s Council of Advisers on Digital Assets, confirmed it: the stablecoin bill is first. The market structure bill—likely the most sweeping crypto legislation to date—will follow closely behind.
Source: @martypartymusic
What has happened so far?
- The U.S. Senate greenlighted the GENIUS stablecoin bill last week. The House has a similar version with slightly different provisions, but it looks likely they’ll adopt GENIUS to speed things up.
- Meanwhile, the Clarity Act, which defines who regulates what (SEC vs. CFTC) and how customer assets must be protected, is prepped for a full House vote after clearing the committee.
What does it mean for the crypto ecosystem in the U.S?
- A federal green light for stablecoins
Source: @SecScottBessent
- SEC/CFTC jurisdiction finally clarified
- A new legal floor for crypto exchanges, token issuers, and on-chain infrastructure
Crypto Summer hasn’t felt this good in quite a long time☀️
A Bitcoin Miner’s Exodus From All Things BTC, Tether’s 10-Year Play and More
Saying Yes To ETH
Ether’s institutional image is getting quite the boost. While Strategy and Metaplanet compete to become the largest corporate BTC holders in the world, firms like SharpLink Gaming are pivoting to ETH, establishing Ethereum’s native token as their go-to treasury asset.
However, we were quite surprised to learn about Bitcoin mining firm Bit Digital’s move to ditch BTC and go all-in on ETH.
In a bold contrarian move, Bit Digital is walking away from Bitcoin mining, converting all 417 BTC (~$45 million) into Ether and going all-in on staking. The company now holds over 24,000 ETH and claims to run one of the largest institutional ETH staking operations.
Source: @SamirTabar
While it may seem like madness to abandon BTC mining, what it signals is ETH’s rise as a balance sheet booster. Looks like Ether’s value proposition as a productive, yield-bearing asset is finally catching up in boardrooms.
Where Does Tether See Itself in The Next 10 Years?
Tether doesn’t want to stay restricted to just stablecoins. It sees significant promise in AI. Tether CEO Paolo Ardoino predicted that a trillion AI agents will be transacting in BTC and USDT within 15 years.
According to Paolo, self-custodial agents won’t use banks; they’ll use permissionless crypto rails. Machine-to-machine commerce is barely there yet, but Tether sees it as the future. It is racing to own that narrative and the rails behind it.
Source: @S4mmyEth
$COIN’s Making A Lot of Investors Rich (Apart From Crypto)
Coinbase has become the poster boy of “crypto companies going public and making it big on Wall Street”.
The company’s stock ($COIN) just closed at $375, its highest price level ever, blowing past its 2021 IPO peak of $357. With this feat, $COIN accumulated a nearly $90 billion market cap.
The momentum is partly thanks to Circle’s IPO, which has exploded 500% since listing, and whose close ties to Coinbase (including 50% of USDC reserve profits) are now public knowledge. Add in COIN’s new S&P 500 status and bullish analyst calls (Bernstein says it’s the “Amazon of crypto finance”), and you’ve got a stellar narrative.
Bitcoin may dominate the headlines, but behind the scenes, ETH is becoming a favourite among corporates, AI is finding its financial OS, and Coinbase is quietly becoming Wall Street’s new darling.
This is what crypto’s next phase looks like — not louder, but smarter.
That’s all for this week! See you in the next one👋
