Arthur Hayes has laid out a detailed case for why the U.S. government, through <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45897485/treasury-secretary-scott-bessent-sees-stablecoin-market-surging-past-2-trillion-as-senate-a">Treasury Secretary Scott Bessent's policies</a>, is increasingly leaning on stablecoins as a financial tool to help fund growing federal deficits while keeping bond yields contained.



"The real stablecoin play isn't betting on crusty FinTechs like Circle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRCL#NYSE">CRCL</a>), it's understanding that the U.S. government just handed Too Big To Fail (TBTF) banks the launch keys to a multi-trillion-dollar liquidity bazooka disguised as ‘innovation,'" Hayes <a href="https://cryptohayes.medium.com/quid-pro-stablecoin-c9daeb7aa569">wrote</a>.



Hayes contends that stablecoin adoption by TBTF banks, coupled with new regulatory advantages like Supplemental Leverage Ratio (SLR) exemptions and a potential end to the Federal Reserve's practice of paying interest on reserve balances, could unlock massive demand for Treasury bills.



He estimates that:



<ul class="wp-block-list">
<li>$6.8 trillion of T-bill buying power could be unlocked through stablecoin-fueled bank deposits.</li>



<li>An additional $3.3 trillion could be released if the Fed stops paying interest on reserves held by banks.</li>
</ul>



In total, this could flood the Treasury market with over $10 trillion of new demand, without the Fed formally resuming quantitative easing.



"Some of you are still waiting for monetary Godot," Hayes wrote, warning investors not to sit on the sidelines waiting for a traditional QE announcement. 



"The stablecoin Trojan horse is already inside the fortress, and when it opens, it's not armed with libertarian dreams, it's loaded with T-bill buying liquidity."



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46219486/microstrategy-of-ethereum-approach-gains-popularity-as-bitdigital-raises-163-million">&#8216;MicroStrategy Of Ethereum&#8217; Approach Gains Popularity As BitDigital Raises $163 Million</a>



According to Hayes, the structure of the Genius Act, a bipartisan stablecoin bill, ensures that major banks will dominate the stablecoin market. FinTech companies like Circle may find themselves sidelined as they lack access to the deposit base and government guarantees that banks enjoy.



Hayes highlighted JPMorgan's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) recently announced stablecoin, JPMD, as a key example. 



He suggests that banks will aggressively push customers to convert traditional deposits into stablecoins, offering cost efficiencies and freeing up trillions of dollars to purchase T-bills.



The stablecoin shift, Hayes argues, could boost profitability and stock valuations of large banks while creating a hidden liquidity source that supports both the Treasury market and risk assets like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and equities.



In Hayes' view, investors overly focused on waiting for a Federal Reserve pivot may miss the real liquidity story that is already taking shape. 



&#8220;Stop listening to the simp sitting in the cuck chair, and start listening to the man wielding the monster cock,&#8221; he wrote, in his typically provocative style, referring to Treasury policy as the more immediate market driver.



Hayes concludes that this policy pathway, while not officially labeled as quantitative easing, could have similar effects: surging liquidity, rising asset prices, and a potentially dramatic upside for Bitcoin and stocks tied to the largest U.S. banks.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46218569/jpmorgans-tests-carbon-credit-tokenization-on-the-blockchain">JPMorgan&#8217;s Tests Carbon Credit Tokenization On The Blockchain</a></li>
</ul>



Image: Shutterstock

Arthur Hayes Shares His 'Stablecoin Play' — And It Isn't Betting On Circle

Anthony Scaramucci, founder and managing partner of SkyBridge Capital, believes the recent surge in public companies adopting <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46201788/public-companies-are-quietly-building-massive-bitcoin-treasuries-faster-than-etfs-can-keep-up">crypto treasury strategies</a> is unlikely to last.



What Happened: In an interview with Blooomberg, Scaramucci <a href="https://www.bloomberg.com/news/articles/2025-07-02/scaramucci-says-crypto-treasury-company-trend-will-fade-away?embedded-checkout=true">said</a> the current wave of firms mimicking Michael Saylor's Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) treasury model is likely to fade over time.



"We're seeing this replication of the crypto treasury company idea right now," Scaramucci said. "But eventually, that will fade."



According to Scaramucci, investors may soon realize it makes little sense to pay a premium for shares in companies that primarily hold Bitcoin or other crypto assets, assets that investors could purchase directly themselves. 



"Why pay the middleman?" he asked.



Over the past year, several public companies have aggressively pursued crypto treasury strategies, inspired by Saylor's playbook at Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) (formerly MicroStrategy). 



The latest is BitMine Immersion Technologies (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BMNR#AMEX">BMNR</a>), a Bitcoin mining firm that announced a $250 million private raise this week to build an Ethereum treasury.



BitMine also appointed Thomas Lee, founder of Fundstrat and a frequent CNBC contributor, as its board chairman.



Many of these companies have sought to differentiate themselves by enlisting high-profile advisors. 



Examples include Eric Trump, who serves on the board of Metaplanet (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MTPLF#OTC">MTPLF</a>), often referred to as Japan's answer to Strategy and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) co-founder Joe Lubin, who is chairman at Sharplink Gaming (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>), a former betting company now focused on Ethereum treasury management.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46228386/inside-the-trump-familys-620-million-crypto-empire">Inside The Trump Family&#8217;s $620 Million Crypto Empire</a>



"Saylor's position is unique because Strategy is now offering multiple products," Scaramucci said. "I'm not criticizing the others—I'm bullish on Bitcoin—but investors need to carefully examine the hidden costs within each of these crypto treasury firms."



SkyBridge's crypto-focused ETF, the First Trust SkyBridge Crypto Industry and Digital Economy ETF, lists Strategy as its largest holding. 



Saylor also wrote the foreword to Scaramucci's recently published Bitcoin book.



Why It Matters: While Wall Street has launched an increasing number of crypto ETFs and diversified investment products, some of which compete with crypto treasury firms like Strategy, Strategy remains one of the year's top-performing crypto-related stocks.



Strategy has funded its extensive Bitcoin purchases through a complex mix of stock and debt offerings, including convertible notes and, most recently, preferred shares.



The crypto treasury model has also faced criticism. Short-seller Jim Chanos recently labeled Saylor's approach as &#8220;financial gibberish,&#8221; arguing that investors would be better off buying Bitcoin directly rather than paying premiums for shares in companies like Strategy. 



Saylor dismissed Chanos's concerns, defending the premium that Strategy's shares command over its Bitcoin holdings.



Scaramucci raised a similar question. 



"If you give a company $10 and they put $8 into Bitcoin, will they make money? Probably. But you might have done better just buying $10 worth of Bitcoin yourself. That's the real issue," he said.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46227149/every-new-trillion-of-debt-in-trumps-big-beautiful-bill-is-free-adertising-for-bitcoin-expert-states">Every New Trillion Of Debt In Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Is &#8216;Free Adertising For Bitcoin,&#8217; Expert States</a></li>
</ul>



Image: Shutterstock

Anthony Scaramucci Predicts Bitcoin Treasury Frenzy 'Will Fade'

Cryptocurrency markets are surging heading into the holiday weekend, fueled by optimism around altcoin <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46228970/blackrocks-bitcoin-etf-surpasses-sp-500-etf-in-revenue-as-xrp-dogecoin-etf-approval-predicted-to-follow-soon">ETF approvals for 2025</a> and the impending ratification of the &#8216;Big Beautiful Bill.&#8217;



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$109,767.59</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,595.50</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$154.89</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.30</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1741</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001200</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows Bitcoin and Ethereum large transaction volume decreased by 4.3% and increased by 2.2%, respectively. Daily active addresses for BTC rose by 2.4%, while ETH saw a 5.4% increase.</li>



<li>Coinglass data shows 95,823 traders were liquidated in the past 24 hours for $332.31 million.</li>



<li>SoSoValue data shows net inflows of $407.8 million into spot Bitcoin ETFs on Wednesday, while spot Ethereum ETFs saw net outflows of $1.8 million.</li>
</ul>



Trader Notes: Crypto trader Galaxy says Bitcoin is testing multi-year resistance, and if it breaks, "it'll go parabolic."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> at multi-year resistance. Let&#39;s break it and go parabolic. <a href="https://t.co/Jakko6d6bQ">pic.twitter.com/Jakko6d6bQ</a>&mdash; Galaxy (@galaxyBTC) <a href="https://twitter.com/galaxyBTC/status/1940629679624573102?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Glassnode data <a href="https://x.com/glassnode/status/1940696893811839188">shows</a> long-term holders (holding BTC for over 155 days) now own a record 14.7 million BTC, reflecting strong conviction and low selling pressure, especially for coins accumulated near the $100,000 breakout.



Crypto chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1940707327692419423">highlighted</a> Dogecoin&#8217;s bounce from the bottom of a descending channel. The next hurdle is $0.19; a level DOGE needs to break to regain momentum. A breakout could target the channel's upper boundary around $0.26.



Crypto trader Lucky sees a &#8220;monster Ethereum rally&#8221; incoming.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In my opinion, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> monster rally is around the corner. Get ready. &#x1f680; <a href="https://t.co/BXfmi3BjCn">pic.twitter.com/BXfmi3BjCn</a>&mdash; Lucky (@LLuciano_BTC) <a href="https://twitter.com/LLuciano_BTC/status/1940688295304089750?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Bitcoinsensus flagged XRP's monthly chart as one of the most bullish setups currently.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> monthly chart is one of the most bullish looking charts in the market right now&#x1f4c8;<a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> <a href="https://t.co/EwGfG1BGJ0">pic.twitter.com/EwGfG1BGJ0</a>&mdash; Bitcoinsensus (@Bitcoinsensus) <a href="https://twitter.com/Bitcoinsensus/status/1940718785822183828?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Crypto Rand <a href="https://x.com/crypto_rand/status/1940703140246126784">noted</a> Solana shows strong momentum. A confirmed breakout above $160 would mark a full bullish reversal. Solana also led all chains in total transactions for June, signaling strong on-chain demand.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46220570/how-trumps-big-beautiful-bill-could-create-a-big-beautiful-bull-run-for-bitcoin-ethereum-xrp">How Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Could Create A &#8216;Big Beautiful Bull Run&#8217; For Bitcoin, Ethereum, XRP</a></li>
</ul>



Image: Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Surge Ahead Of Independence Day

Memecoins are leading cryptocurrency gains early Thursday morning, after Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) nearly topped $110,000.



What happened: Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based Bonk rallied over 21% to become the market's most profitable cryptocurrency in the last 24 hours.



The dog-themed coin's trading volume exploded 336% to nearly $560 million in the last 24 hours, suggesting high buying pressure. Open interest exploded 40% in the last 24 hours, <a href="https://www.coinglass.com/BitcoinOpenInterest">according</a> to Coinglass.&nbsp;



Widely followed cryptocurrency trader Bluntz projected Bonk to surge by "at least" 100%-130%, but did not provide a specific time frame.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">really not too sure about ath&#39;s but pretty confident <a href="https://twitter.com/search?q=%24bonk&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$bonk</a> is going atleast 100-130% higher <a href="https://t.co/1MXgGXRM9W">pic.twitter.com/1MXgGXRM9W</a>&mdash; Bluntz (@Bluntz_Capital) <a href="https://twitter.com/Bluntz_Capital/status/1940584173921861885?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46149584/why-crypto-investors-are-receiving-internal-revenue-service-warning-letters">Why Crypto Investors Are Receiving Internal Revenue Service Warning Letters</a>



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 4:50 a.m. ET)</td></tr><tr><td>Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td><td>+21.75%</td><td>$0.00001734</td></tr><tr><td>Fartcoin (FARTCOIN)</td><td>+16.58%</td><td>$1.24</td></tr><tr><td>Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>)</td><td>+15.51%</td><td>$0.9347</td></tr></tbody></table></figure>



Fartcoin, another Solana-based memecoin, lifted over 16%, with trading volume soaring 55% in the last 24 hours. Dogwifhat spiked 15% over the previous day.



The three memecoins were among the top five biggest gainers in the past 24 hours, reflecting the memecoin frenzy.



Their returns overshadowed meme titans like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), which advanced 7.78% and 6.33%, respectively.



The overall memecoin market surged 8.85% to $57.23 billion, with trading volume rising by 60%.



The market has erupted after Bitcoin<a href="https://www.benzinga.com/crypto/25/07/46238265/bitcoin-nearly-hits-110000-ethereum-dogecoin-also-spike-amid-etf-buzz-analyst-says-door-open-for-118000-btc-rally"> nearly broke $110,000</a> on Wednesday on surging institutional interest and trade deal optimism.



Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46230381/xrp-spikes-3-as-ripple-applies-for-us-banking-license">XRP Spikes 3% As Ripple Applies For US Banking License</a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46148904/donald-trump-says-bitcoin-takes-a-lot-of-pressure-off-the-dollar"> </a></li>
</ul>



Photo Courtesy: alfernec on Shutterstock

Dogecoin Up 8%, But These Two Dog-Themed Coins Are Leading The Advance Early Thursday Morning

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) purist Willy Woo tied the leading cryptocurrency&#8217;s growth with global liquidity on Wednesday, stating that the more money printed, the larger it will become.



What Happened: In an X post, Woo said that out of all macro assets, Bitcoin is the &#8220;most sensitive&#8221; to global money supply. 



&#8220;Global liquidity = money printing. It&#8217;s a beautiful thing. The central banks print, the bigger BTC gets, fiat dies,&#8221; the analyst argued.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Fiat is an octopus with many tentacles. It loses some tentacles but the octopus stays.&mdash; Neo (@BITC_minimalist) <a href="https://twitter.com/BITC_minimalist/status/1940508722012606906?ref_src=twsrc%5Etfw">July 2, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Neo, an X user, disputed the assertions, describing fiat currency as an &#8220;octopus with many tentacles.&#8221; The counter-argument was that fiat is resilient and can withstand financial crises.



&#8220;Fiat will blow up. Fiat exists to patch government overspending. That train doesn&#8217;t last forever,&#8221; Woo responded.



See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46089127/arthur-hayes-doubles-down-on-250000-bitcoin-call-sees-1-million-by-2028">Arthur Hayes Doubles Down On $250,000 Bitcoin Call — Sees $1 Million By 2028</a>



Woo&#8217;s tweet comes in the context of growing concerns over the U.S.&#8217;s national debt, which is said to exceed $175 trillion, according to Silicon Valley investor and economic commentator Balaji Srinivasan. Srinivasan recently stated that the U.S. is heading towards a national bankruptcy, with no possible solution to its debt crisis.&nbsp;<a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46213919/elon-musk-is-100-correct-says-balaji-srinivasan-america-is-broke-and-there-is-no-fix-but-is-it-a-win-win-for-bitcoin">Benzinga</a>&nbsp;reported.



Why It Matters: Woo&#8217;s views align with those of other cryptocurrency market commentators like Anthony Pompliano, who projected Bitcoin to soar due to <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46188791/anthony-pompliano-says-bitcoin-to-reach-a-gazillion-driven-by-massive-money-printing-in-a-heated-economy">massive money printing</a>.



President Donald Trump&#8217;s &#8220;Big Beautiful Bill,&#8221; which is set to cause major fiscal expansion, has led several market analysts to point to Bitcoin <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46227149/every-new-trillion-of-debt-in-trumps-big-beautiful-bill-is-free-adertising-for-bitcoin-expert-states">as a potential long-term beneficiary</a>, with every new trillion added to the debt being &#8220;free advertising&#8221; for the asset.



The U.S. economy is facing a potential crisis as the national debt,&nbsp;<a href="https://www.benzinga.com/markets/25/05/45535837/us-faces-death-by-a-thousand-cuts-as-national-debt-tops-36-trillion-cautions-deutsche-bank-the-drip-drip-drip-of-poor-fiscal-news-building-up" target="_blank" rel="noreferrer noopener">currently exceeding $36.2 trillion</a>, continues to rise, sparking concerns among economists and analysts. Silicon Valley investor Balaji Srinivasan <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46213919/elon-musk-is-100-correct-says-balaji-srinivasan-america-is-broke-and-there-is-no-fix-but-is-it-a-win-win-for-bitcoin">said that the U.S. is heading towards a national bankruptcy</a>, with no possible solution in sight.



Price Action:  At the time of writing, Bitcoin was exchanging hands at $108,804.49, up 2.55% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.



Photo Courtesy: Rido on Shutterstock.com



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/07/46201788/public-companies-are-quietly-building-massive-bitcoin-treasuries-faster-than-etfs-can-keep-up" target="_blank" rel="noreferrer noopener">Public Companies Are Quietly Building Massive Bitcoin Treasuries Faster Than ETFs Can Keep Up &#8211; Benzinga</a></li>
</ul>

Bitcoin Gets 'Bigger' The More Money Central Banks Print, Says Popular Crypto Analyst: 'It's A Beautiful Thing'

Leading cryptocurrencies rallied sharply on Wednesday as institutional demand fuels optimism.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:20 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+3.09%</td><td>$108,832.24</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+6.72%</td><td>$2,571.03</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+6.21%</td><td>$0.1680</td></tr></tbody></table></figure>



What Happened: Bitcoin rallied to an intraday high of $109,763.65 in the afternoon before profit-taking dragged it back to the $108,000 region.



The upsurge followed news that BlackRock&#8217;s iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) is <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46228970/blackrocks-bitcoin-etf-surpasses-sp-500-etf-in-revenue-as-xrp-dogecoin-etf-approval-predicted-to-follow-soon">now generating more in fees</a> than its flagship S&amp;P 500 fund.



Bitcoin's spike rubbed off on the rest of the market, with Ethereum and altcoins surging significantly.



The upsurge resulted in over $250 million in bearish short positions getting erased in the last 24 hours.&nbsp;



Bitcoin&#8217;s open interest powered 8.71% in the last 24 hours to $74 billion, indicating high speculative interest. Interestingly, over 68% of Binance traders with open BTC positions continued to be short as of this writing.



The "Greed" sentiment intensified from 63 to 73 in the last 24 hours, according to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:20 p.m. ET)</th></tr></thead><tbody><tr><td>Bonk (BONK)</td><td>+19.97%</td><td>$0.0000164</td></tr><tr><td>Celestia (TIA)&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+17.82%</td><td>$1.61</td></tr><tr><td>dogwifhat (WIF)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+16.87%</td><td>$0.9243 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.36 trillion, surging 3.49% in the last 24 hours.



Major stock averages bumped during Wednesday's trading. The S&amp;P 500 climbed &nbsp;0.47% to close at a new record high of 6,227.42. The tech-heavy Nasdaq Composite rose 0.94%, also closing at a record of 20,393.13. The Dow Jones Industrial Average was the outlier, recording a minor dip to close at 44,484.42.&nbsp;



The rally comes after Trump announced that the U.S. struck a trade <a href="https://truthsocial.com/@realDonaldTrump/posts/114784170652465525">deal </a>with Vietnam, a <a href="https://www.benzinga.com/tech/25/04/44726879/vietnam-a-hub-for-us-tech-giants-like-apple-and-nvidia-wants-to-talk-trade-after-trump-pauses-46-tariff">hub for tech giants</a> like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Blockchain analytics platform Santiment said Bitcoin's rally has sparked a FOMO on social media.



"Prices move opposite to retail traders&#8217; behavior, so don&#8217;t be surprised by a brief rally halt while greed is high," Santiment added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f973; Bitcoin has jumped to $109.8K today with FOMO setting in across X, Reddit, Telegram, 4Chan, BitcoinTalk, &amp; Farcaster. Prices move opposite to retail traders&#39; behavior, so don&#39;t be surprised by a brief rally halt while greed is high. &#x1f517; Link to chart: <a href="https://t.co/Ak3ITrgSay">https://t.co/Ak3ITrgSay</a> <a href="https://t.co/nG9LcIajEo">pic.twitter.com/nG9LcIajEo</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1940499298468442591?ref_src=twsrc%5Etfw">July 2, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



On the other hand, widely followed cryptocurrency analyst and trader Ali Martinez found Bitcoin's daily chart "promising."



"A daily close above $109,000 could open the door to a rally toward $118,000," the analyst predicted.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Despite the broader quarterly outlook shared in this video, the daily chart for Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> looks promising. A daily close above $109,000 could open the door to a rally toward $118,000! <a href="https://t.co/6v8skxXj0P">https://t.co/6v8skxXj0P</a> <a href="https://t.co/Ohqh3THBIm">pic.twitter.com/Ohqh3THBIm</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1940454912779047034?ref_src=twsrc%5Etfw">July 2, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo: Antonio Gravante On Shutterstock.com



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46215827/bitcoins-halving-cycle-is-over-standard-chartered-affirms-what-that-means-for-you">Bitcoin&#8217;s Halving Cycle Is &#8216;Over&#8217;, Standard Chartered Affirms: What That Means For You</a></li>
</ul>

Bitcoin Nearly Hits $110,000 — Ethereum, Dogecoin Also Spike Amid ETF Buzz: Analyst Says Door Open For $118,000 BTC Rally

Robinhood Markets Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) CEO Vlad Tenev clarified the nature of the company&#8217;s OpenAI token giveaway on Wednesday amid growing controversy about the nature of the equities.



What Happened:&nbsp;In an X post, Tenev talked about Robinhood&#8217;s recent crypto event, where it&nbsp;announced a limited &#8220;stock token&#8221;&nbsp;giveaway on OpenAI and SpaceX&nbsp;for eligible European customers. 



&#8220;While it is true that&nbsp;they aren't technically &#8216;equity&#8217;&#8230;&nbsp;the tokens effectively give retail&nbsp;investors exposure to these private&nbsp;assets,&#8221; Tenev stated.



He further added that the giveaway is a precursor to &#8220;something much bigger&#8221; and that many private companies have expressed interest in joining the &#8220;tokenization revolution&#8221; since the announcement.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">At our recent crypto event, we announced a limited Stock Token giveaway on OpenAI and SpaceX to eligible European customers. While it is true that they aren't technically "equity" (you can see the precise dynamics in our Terms for those interested), the tokens effectively give…&mdash; Vlad Tenev (@vladtenev) <a href="https://twitter.com/vladtenev/status/1940547859532612028?ref_src=twsrc%5Etfw">July 2, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/07/46220570/how-trumps-big-beautiful-bill-could-create-a-big-beautiful-bull-run-for-bitcoin-ethereum-xr" target="_blank" rel="noreferrer noopener">How Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Could Create A &#8216;Big Beautiful Bull Run&#8217; For Bitcoin, Ethereum, XRP</a>



Why It Matters:&nbsp;Robinhood&nbsp;<a href="https://www.benzinga.com/crypto/25/06/46174854/robinhood-just-made-crypto-simpler-and-way-more-powerful" target="_blank" rel="noreferrer noopener">unveiled a suite of products</a>&nbsp;during its event in France for its European customers, the highlight of which was blockchain-powered tokenized equities of companies like OpenAI and SpaceX.



However, the novel initiative has run into controversy. <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46236537/openai-says-tokens-are-not-equity-no-partnership-with-robinhood-musk-says-ai-companys-equity-is-fake">OpenAI issued a statement</a>&nbsp;clarifying that the tokens offered by Robinhood are not OpenAI equity and that the company has no involvement with Robinhood regarding the product. The Sam Altman-founded firm further cautioned its users, stating that any transfer of its equity requires company approval, which was not granted in this case.



Elon Musk, who was also one of the co-founders, called OpenAI&#8217;s equity &#8220;fake.&#8221; 



The Securities Industry and Financial Markets Association, a trade group that represents the interests of financial institutions, <a href="https://www.sifma.org/resources/submissions/letters/requests-for-exemptive-relief-from-the-federal-securities-laws-for-tokenized-equities-and-other-digital-assets/">urged the SEC</a> to deny digital asset companies the opportunity to offer tokenized equities through specific exemptive relief and instead adopt an &#8220;open and transparent&#8221; process.



Price Action:&nbsp; Shares of Robinhood dipped 1.35% in after-hours trading after closing 6.12% higher at $97.98 during Wednesday&#8217;s regular trading session, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Over the last week, the stock has surged more than 17%.



HOOD demonstrated high Momentum and Growth scores as of this writing. Want to know how this compares to the highest-weighted stock in your portfolio? Go to&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="562" height="238" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02212423/image-32.png" alt="" class="wp-image-971198" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02212423/image-32.png 562w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02212423/image-32-300x127.png 300w" sizes="(max-width: 562px) 100vw, 562px" /></a></figure>



Photo: Bangla press / Shutterstock.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46189081/what-are-stock-tokens-and-how-to-trade-them-robinhoods-new-offering-merges-owning-stocks-with-blockchain-tech-heres-how-it-works">What Are Stock Tokens And How To Trade Them? Robinhood&#8217;s New Offering Merges Owning Stocks With Blockchain Tech: Here&#8217;s How It Works</a></li>
</ul>



This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Vlad Tenev Says OpenAI, SpaceX Tokens Not 'Technically' Equity After ChatGPT Parent Questions Giveaway, Robinhood CEO Calls It 'Seed' For Something Bigger

Shares of Webull Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BULL#NASDAQ">BULL</a>) soared on Wednesday on exceptionally high trading volume. The stock saw more than 25 million shares change hands, significantly outpacing its 100-day average volume of approximately 9.9 million shares. Here&#8217;s what investors <a href="https://www.benzinga.com/quote/BULL/news">need to know</a>.



What To Know: Wednesday&#8217;s surge appears to be in sympathy with a broader rally in the retail brokerage and crypto sectors. Peer capital markets company Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) reached a <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46225339/robinhood-stock-surges-to-all-time-high-on-aggressive-crypto-expansion-whats-going-on">new all-time high</a> Wednesday. 



Robinhood stock has surged in recent sessions amid announcements of an aggressive expansion into cryptocurrency services in Europe and a bullish price target upgrade to $110 from KeyBanc Capital Markets. Analysts <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46225339/robinhood-stock-surges-to-all-time-high-on-aggressive-crypto-expansion-whats-going-on">cited</a> Robinhood&#8217;s &#8220;first-rate innovation&#8221; and international growth potential as key drivers for the positive outlook.



Further fueling the momentum is the robust performance of the cryptocurrency market. The success of spot Bitcoin and Ethereum ETFs, which have attracted billions in inflows, has boosted investor sentiment. 



Analysts at Bloomberg have <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46228970/blackrocks-bitcoin-etf-surpasses-sp-500-etf-in-revenue-as-xrp-dogecoin-etf-approval-predicted-to-follow-soon">raised their odds</a> for the approval of several new altcoin ETFs to over 90% by the end of 2025. With the successful launch of the first spot Solana staking ETF, the market&#8217;s appetite for crypto-related assets appears to be growing, providing a strong tailwind for platforms like Webull.



Webull investors on Wednesday are likely betting that the booming interest in digital assets will directly benefit platforms like it, which offer crypto trading, by driving higher user engagement and revenue.



What Else: Based on <a href="https://www.benzinga.com/news/25/05/45591857/webull-bull-shares-slide-following-q1-earnings-report">first-quarter results</a> reported in May, the company showcased strong top-line growth, with revenues jumping nearly 32% year-over-year to $117.4 million, despite a reported net loss of six cents per share.



Webull also highlighted significant underlying momentum in that report, with customer assets climbing 45% to $12.6 billion and registered users increasing by 17% to 24.1 million.



BULL Price Action: According to data from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, Webull shares closed higher by 11.54% to $14.01 on Wednesday. BULL has a 52-week high of $79.56 and a 52-week low of $10.18.



Read Also: <a href="https://www.benzinga.com/pressreleases/25/06/n46115610/webull-re-enters-crypto-market-with-launch-in-brazil">Webull Re-Enters Crypto Market With Launch In Brazil</a>



<h1 class="wp-block-heading">How To Buy BULL Stock</h1>



By now, you're likely curious about how to participate in the market for Webull, be it to purchase shares or even attempt to bet against the company.



Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy &#8220;fractional shares,&#8221; which allows you to own portions of stock without buying an entire share.



If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform or a broker who will allow you to &#8220;go short&#8221; a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option or sell a call option at a strike price above where shares are currently trading — either way, it allows you to profit off of the share price decline.



Image: Shutterstock

Webull Stock Jumps 11% Wednesday: What Happened?

Cango, Inc &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CANG#NYSE">CANG</a>) shares are trading higher on possible continued strength after the company announced yesterday that it produced 450 Bitcoins for the <a href="https://www.benzinga.com//node/46190207">month of June.</a>



What To Know:&nbsp;The company reported mining 450 Bitcoin in June, down from 484.5 Bitcoin in May. Average daily production fell slightly to 15 Bitcoin from 15.63 Bitcoin in the prior month.



Cango ended June with 3,879.2 Bitcoin in total holdings, up from 3,429.3 Bitcoin at the end of May. The company did not sell any Bitcoin during the month.



Cango maintained a deployed hashrate of 32 EH/s and reported an average operating hashrate of 29.92 EH/s in June. On June 27, the company completed the acquisition of additional mining machines, increasing total hashrate to 50 EH/s.



CANG Price Action: Cango stock closed Wednesday 12.13% higher at $5.27, according to data from <a href="https://www.google.com/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https://www.benzinga.com/pro/&amp;ved=2ahUKEwii7Z7y656OAxUBFVkFHQpbAFEQFnoECA4QAQ&amp;usg=AOvVaw0xIsPvjIcIIsWev01-6zR2">Benzinga Pro</a>.



See Also: •. <a href="https://www.benzinga.com/analyst-stock-ratings/initiation/25/07/46229237/cash-rich-ionq-to-capture-20-of-quantum-market-by-2035-analyst">Cash-Rich IonQ To Capture 20% Of Quantum Market By 2035</a>



Image via Shutterstock

Cango Stock Is Rising Wednesday: What's Going On?

Crypto markets are on the rise as renewed institutional demand fuels momentum, particularly after news that <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46228970/blackrocks-bitcoin-etf-surpasses-sp-500-etf-in-revenue-as-xrp-dogecoin-etf-approval-predicted-to-follow-soon">BlackRock's Bitcoin ETF is now generating more in fees</a> than its flagship S&amp;P 500 fund. This signals a significant shift in institutional investor focus toward digital assets. 



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$109,391.56</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,577.93</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$151.97</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.25</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1715</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001185</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows large transaction volume decreasing by 22.7% and daily active addresses growing by 5.4%. Transactions greater than $100,000 are down from 11,714 to 11,019 in a single day. Exchanges netflows are down by 68%.</li>



<li>Coinglass data reports 109,908 traders were liquidated in the past 24 hours for $350.52 million.</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46219486/microstrategy-of-ethereum-approach-gains-popularity-as-bitdigital-raises-163-million">&#8216;MicroStrategy Of Ethereum&#8217; Approach Gains Popularity As BitDigital Raises $163 Million</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46218569/jpmorgans-tests-carbon-credit-tokenization-on-the-blockchain">JPMorgan&#8217;s Tests Carbon Credit Tokenization On The Blockchain</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46215827/bitcoins-halving-cycle-is-over-standard-chartered-affirms-what-that-means-for-you">Bitcoin&#8217;s Halving Cycle Is &#8216;Over&#8217;, Standard Chartered Affirms: What That Means For You</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46217148/heres-why-altcoin-season-for-xrp-eth-sol-has-not-happened-yet">Here&#8217;s Why &#8216;Altcoin Season&#8217; For XRP, ETH, SOL Has Not Happened Yet</a></li>



<li><a href="https://www.benzinga.com/markets/tech/25/07/46208521/circle-crcl-stock-bank-bid-crypto-stablecoins">Circle&#8217;s Bank Bid Could Be The Biggest Crypto Story Of The Year</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46205649/bitcoin-fartcoin-outperform-in-2025-but-how-did-xrp-eth-solana-fare-in-the-first-6-months">Bitcoin, Fartcoin Outperform In 2025, But How Did XRP, ETH, Solana Fare In The First 6 Months?</a></li>



<li><a href="https://www.benzinga.com/markets/25/07/46214968/bitcoin-to-hit-200-000-in-2025-but-new-eth-sol-highs-remain-in-doubt-bitwise-says">Bitcoin To Hit $200,000 In 2025, But New ETH, SOL Highs Remain In Doubt, Bitwise Says</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price&nbsp;&nbsp;&nbsp;</td></tr><tr><td>SPX6900</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SPX</a>)</td><td>$1.28</td></tr><tr><td>Virtuals Protocol</td><td>(CRYPTO: VIRTUAL)</td><td>$1.62</td></tr><tr><td>Worldcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WLD</a>)</td><td>$0.9541</td></tr></tbody></table></figure>



Trader Notes: Crypto trader Roman cautioned against overanalyzing Bitcoin's recent price moves, citing reduced market activity during the U.S. holiday week. "More than 50% of the workforce is likely on vacation," he noted, adding that low liquidity can produce misleading price action in either direction. "We'll get a better-read next week," he concluded.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Stated earlier this week I'd take any <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> movement with a grain of salt. It's a big holiday week here in the states. 50%+ of the workforce is on vacation. This applies to both up/down movement. Will get a better read next week. <a href="https://t.co/XrFLtMvfWm">pic.twitter.com/XrFLtMvfWm</a>&mdash; Roman (@Roman_Trading) <a href="https://twitter.com/Roman_Trading/status/1940469781163135330?ref_src=twsrc%5Etfw">July 2, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, CryptoCon <a href="https://x.com/CryptoCon_/status/1940439487458296138">remains</a> firm on his $166,000 target, citing the golden ratio extension, a model that has accurately forecasted previous cycle peaks. Though the timeline has shifted to September, the analyst believes the setup remains intact. "Just a 52% move left," he emphasized, pointing out that all cycle signals are still bullish.



Analyst Jackis added that Bitcoin is now trading at its lowest volatility since 2023, reaching levels only seen seven times in history. Each of those instances preceded a massive volatility spike, suggesting a major move is likely within five weeks.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is hitting the lowest volatility since 2023 &amp; levels it only hit 7 times in history Here is what happened each time at these levels Explosion in volatility is coming up at max in 5 weeks if not sooner, that&#39;s for sure &#x1f525; <a href="https://t.co/q28uEqXBax">pic.twitter.com/q28uEqXBax</a>&mdash; JACKIS (@i_am_jackis) <a href="https://twitter.com/i_am_jackis/status/1940443558340931717?ref_src=twsrc%5Etfw">July 2, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



More Crypto Online <a href="https://x.com/Morecryptoonl/status/1940444543322820845">highlighted</a> a potential third wave breakout forming on the charts. With momentum increasing, he flagged $107,280 as the key support level. "Holding above it keeps the bullish structure intact," he said, adding: "Don't sleep on this move."



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46220570/how-trumps-big-beautiful-bill-could-create-a-big-beautiful-bull-run-for-bitcoin-ethereum-xrp">How Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Could Create A &#8216;Big Beautiful Bull Run&#8217; For Bitcoin, Ethereum, XRP</a></li>
</ul>



Image: Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Surge As 'Big Beautiful Bill' House Vote Nears

Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) is joining the ranks of crypto firms <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45751163/ripples-stablecoin-rlusd-gets-regulatory-nod-in-dubai">seeking greater legitimacy</a> and regulatory clarity by applying for a national banking license with the U.S. Office of the Comptroller of the Currency.



The move would shift oversight of Ripple's stablecoin, RLUSD, from New York state regulators to federal jurisdiction, aligning with upcoming stablecoin legislation.



<a href="https://www.wsj.com/finance/regulation/ripple-seeks-a-u-s-banking-license-adding-to-list-of-crypto-companies-e007afa4">According to</a> the Wall Street Journal, Ripple's subsidiary, Standard Custody &amp; Trust, has also submitted an application for a Federal Reserve master account. 



This would give Ripple direct access to U.S. central banking infrastructure, enabling 24/7 issuance and redemption of RLUSD and direct custody of reserves.



The effort comes as Congress prepares to pass the Genius Act, which mandates federal banking charters for stablecoin issuers, pushing firms to proactively align with incoming regulation.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46217148/heres-why-altcoin-season-for-xrp-eth-sol-has-not-happened-yet">Here&#8217;s Why &#8216;Altcoin Season&#8217; For XRP, ETH, SOL Has Not Happened Yet</a>



Why It Matters: Ripple is the latest in a growing list of crypto firms—including Circle, issuer of (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), and Anchorage Digital working to bridge the gap between crypto and traditional finance through national charters. Circle recently filed for a similar license, and Anchorage remains the only platform so far to hold a federal charter.



As of now, RLUSD has a market cap of $469 million, while Circle's USDC leads the regulated stablecoin space with over $62 billion in circulation.



CEO Brag Garlinghouse <a href="https://x.com/bgarlinghouse/status/1940454339207667941">stated</a> that Ripple has applied for a Fed Master account enabling it to hold RLUSD reserves directly with the Fed and provide an additional layer of security to future proof trust in RLUSD.



Ripple's push into federally regulated banking also aligns with its partnership with OpenPayd, giving it access to fiat payment infrastructure, multi-currency accounts, virtual IBANs, and real-time rails in major global markets, critical for advancing Ripple Payments and expanding RLUSD's real-world use.



Price Action: XRP reacted favorably to the news, up 2.8% over the past 24 hours to $2.25.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46220570/how-trumps-big-beautiful-bill-could-create-a-big-beautiful-bull-run-for-bitcoin-ethereum-xrp">How Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Could Create A &#8216;Big Beautiful Bull Run&#8217; For Bitcoin, Ethereum, XRP</a></li>
</ul>



Image: Shutterstock

XRP Spikes 3% As Ripple Applies For US Banking License

The momentum behind spot crypto ETFs is accelerating, as inflows and revenues from Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) ETFs have outpaced <a href="https://www.benzinga.com/money/best-spot-bitcoin-etfs">traditional finance benchmarks in 2025</a>.  



What Happened: Crypto analyst Altcoin Gordon <a href="https://x.com/AltcoinGordon/status/1940400949258039362">pointed</a> out that the top 100 U.S. ETFs now manage $5.7 trillion in assets, providing a deep pool of liquidity. 



BlackRock's iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) alone has attracted more than $50 billion in inflows since its 2024 debut, and he predicts altcoins are next to tap into this firehose of capital.



Gordon predicts that at least 5 altcoin ETFs will be approved this year sending the crypto coins to newer heights.



According to Bitwise CIO Matt Hougan, Ethereum ETFs <a href="https://x.com/Matt_Hougan/status/1940354170084835521">pulled</a> in $1.17 billion in June alone. 



He expects this to accelerate until the end of the year as Wall Street warms to Ethereum&#8217;s utility in powering stablecoins and tokenized stocks, a narrative Hougan believes could push total inflows to $10 billion by year-end.



Bloomberg analysts James Seyffart and Eric Balchunas have <a href="https://x.com/JSeyff/status/1939795594148540610">raised</a> their odds for spot crypto ETF approvals to 95% for Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), 90% for Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), Polkadot (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/dot/usd">DOT</a>), HBAR and Avalanche (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/avax/usd">AVAX</a>).  



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here are mine and <a href="https://twitter.com/EricBalchunas?ref_src=twsrc%5Etfw">@EricBalchunas</a>&#39; most recent odds on spot crypto ETF approvals by the end of 2025. We expect a wave of new ETFs in this second half of 2025. <a href="https://t.co/H3pxJhqMy3">pic.twitter.com/H3pxJhqMy3</a>&mdash; James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1939795594148540610?ref_src=twsrc%5Etfw">June 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Seyffart also <a href="https://x.com/JSeyff/status/1940407756051394680">confirmed</a> that the first spot Solana staking ETF began trading today, drawing $8 million within 20 minutes, a sign of strong pent-up demand.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46220570/how-trumps-big-beautiful-bill-could-create-a-big-beautiful-bull-run-for-bitcoin-ethereum-xrp">How Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Could Create A &#8216;Big Beautiful Bull Run&#8217; For Bitcoin, Ethereum, XRP</a>



Why It Matters: According to VanEck's Head of Digital Assets Research Matthew Sigel, BlackRock's Bitcoin ETF is now <a href="https://x.com/matthew_sigel/status/1940421231788114404">generating</a> an estimated $187.2 million in annual fees, surpassing revenue from its Core S&amp;P 500 ETF.



IBIT now commands 55% of Bitcoin ETF market share, consistently attracting capital from hedge funds, pensions, and retail investors, with inflows logged in 17 of the past 18 months.



Still, CryptoQuant <a href="https://x.com/cryptoquant_com/status/1940403613450535210">notes</a> Bitcoin remains range-bound between $98,000 and $111,800, despite these record ETF flows. While price has cooled 4% from local highs, analysts expect ETF momentum to eventually translate into upward movement, especially if altcoin ETFs are approved.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46217148/heres-why-altcoin-season-for-xrp-eth-sol-has-not-happened-yet">Here&#8217;s Why &#8216;Altcoin Season&#8217; For XRP, ETH, SOL Has Not Happened Yet</a></li>
</ul>



Image: Shutterstock

BlackRock's Bitcoin ETF Surpasses S&P 500 ETF In Revenue As XRP, Dogecoin ETF Approval Predicted To Follow Soon

Since retaking the White House, <a href="https://www.benzinga.com/news/politics/25/06/46135230/trumps-5-million-gold-card-draws-global-elite-but-lawyers-warn-many-high-net-worth-individuals-will-not-apply-without-tax-clarity">Donald Trump's reported net worth</a> has remained broadly stable, around $6.5 billion on Election Day to roughly $6.4 billion today.



Yet the makeup of his wealth has changed dramatically, with the Trump family now leaning heavily into crypto ventures and fast-moving digital assets that are reshaping their financial empire.



While the Trumps have long profited from real estate licensing and branded products, their foray into cryptocurrency has dramatically accelerated their potential earnings. 



<a href="https://www.bloomberg.com/news/features/2025-07-02/donald-trump-net-worth-620-million-of-crypto-wealth-reshapes-fortune?embedded-checkout=true">According</a> to Bloomberg, Trump-linked crypto ventures have added at least $620 million to his fortune in just a few months.



These projects, including World Liberty Financial and a Trump-branded meme coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>), now vastly outpace earnings from traditional licensing, which generated $34 million last year.



World Liberty Financial, one of the Trump family&#8217;s most lucrative crypto initiatives, sold about $550 million in tokens by March, with roughly $390 million of that attributed to the Trump family's earnings. 



The family also holds more than 22 billion additional tokens, though these are currently excluded from Trump's wealth calculation due to restrictions on transferring them, restrictions the company has recently suggested may change.



The project also launched a stablecoin, USD1, which gained traction after Abu Dhabi-based MGX announced it would use the token for a $2 billion investment in Binance.



Binance founder Changpeng Zhao, who pleaded guilty to violating U.S. anti-money laundering laws, now serves as an adviser to World Liberty Financial alongside figures like crypto entrepreneur Justin Sun.



Using benchmarks from comparable stablecoin issuers, World Liberty's implied valuation could exceed $1.4 billion, though Bloomberg considers this too speculative to include in Trump's official wealth tally. 



With USD1's circulation reaching $2.2 billion, World Liberty's reserves could generate an estimated $100 million annually.



The Trump family's crypto footprint also includes the Trump-branded meme coin, launched on inauguration weekend. 



Family-linked entities hold 80% of the token's supply, with portions set to become tradeable over the next three years. 



The Trump Organization is credited with a 40% ownership stake. 



Also Read: <a href="https://www.benzinga.com/markets/25/07/46211683/circle-stock-is-a-must-hold-says-bernstein-heres-why">Circle Stock Is A &#8216;Must Hold,&#8217; Says Bernstein: Here&#8217;s Why</a>



Bloomberg values Trump's current meme coin holdings at approximately $150 million, excluding roughly $7 billion worth of tokens that will vest gradually.



The meme coin's popularity surged after the Trump family <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45626262/trump-meme-coin-dinner-turned-into-high-net-worth-crypto-networking-trump-was-there-for-20-minutes">hosted a dinner for its top 220 holders</a> in May at the Trump golf club in Virginia, drawing attention from high-profile guests like Justin Sun. 



Outside the event, protesters labeled it the &#8220;Grifter Gala,&#8221; underscoring the controversy surrounding Trump's crypto ventures.



Eric Trump recently revealed that World Liberty Financial plans to acquire a large position in the Trump memecoin, further connecting the family's various crypto interests.



Another major venture in development is American Bitcoin, a crypto-focused company spun out of a Trump-affiliated investment bank. 



Initially focused on AI and data centers, the firm pivoted to Bitcoin mining earlier this year. 



Bitcoin miner Hut 8 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>) agreed to transfer nearly all of its mining equipment to American Bitcoin, which is set to merge with Gryphon Digital Mining (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRYP#NASDAQ">GRYP</a>). 



The merger values the new entity at over $3 billion, a figure Bloomberg notes far exceeds the book value of its mining assets, estimated at just $120 million.



Meanwhile, the Trump Organization secured a major real estate win in January when it gained approval to build 1,500 luxury condos at Trump National Doral in Miami. 



Bloomberg estimates the property's value has now jumped from $350 million to $1.5 billion.



While Truth Social, Trump's publicly traded social media company, initially added over $4 billion to his wealth, its valuation has since fallen to $2 billion following substantial losses last year. 



Despite this decline, the family's focus on rapidly monetizing crypto assets appears to be a defining feature of Trump's financial resurgence.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46204888/were-back-baby-solana-analyst-highlights-breakout-but-this-bitcoin-metric-may-be-at-risk">&#8216;We&#8217;re Back, Baby&#8217;: Solana Analyst Highlights Breakout, But This Bitcoin Metric May Be At Risk</a></li>
</ul>



Image: Shutterstock

Inside The Trump Family's $620 Million Crypto Empire

Design company Figma (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIG#NYSE">FIG</a>) has filed for an IPO and, along with sharing impressive revenue figures and year-over-year growth, the company's investments in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) are making headlines.



What Happened: Figma is set to go public on the NYSE under the ticker FIG and will come to the market after a $20 billion buyout from Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) was<a href="https://www.benzinga.com/news/24/05/38893439/figma-sets-12-5b-valuation-in-new-equity-offering-falling-short-of-adobes-acquisition-offer"> blocked by regulators.</a>



The Figma IPO <a href="https://www.sec.gov/Archives/edgar/data/1579878/000162828025033742/figma-sx1.htm">filing</a> was filled with details about the company's financials and also included 21 mentions of the word &#8220;Bitcoin.&#8221;



In the filing, Figma revealed that its Board of Directors approved an investment in Bitcoin ETFs in 2024, and the company currently owns approximately $69.5 million, held in the Bitwise Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>), as of March 31, 2025.



The company holds the Bitcoin ETF assets at fair value.



What may be even more surprising ahead of the IPO is that Figma is planning to invest further in Bitcoin in the future. 



The company recently purchased $30 million in USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), which will be used as part of Figma's board approving a $30 million investment in Bitcoin.



"The company intends to reinvest its stablecoin holdings into Bitcoin at a later date," the filing reads.



Figma's IPO filing caught the attention of cryptocurrency trading platform Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).



"Holding Bitcoin and using USDC. We should be friends," Coinbase <a href="https://x.com/coinbase/status/1940159396954481149">tweeted</a>.



The filing revealing Figma's bets on Bitcoin comes as an increasing number of public companies are adding Bitcoin to their balance sheet, including video game retailer GameStop.



Figma lists volatility related to an investment in Bitcoin ETFs as a risk factor and the wording suggests continued investment in Bitcoin in the future.



"From time to time, we have also invested excess cash reserves in alternative assets, such as the Bitcoin exchange-traded fund, and may do so in the future,&#8221; the filing reads. &#8220;The investments in our portfolio are subject to our corporate investment policy, which focuses on the preservation of capital, fulfillment of our liquidity needs, and maximization of investment performance within the parameters set forth in our corporate investment policy and subject to market conditions."



Read Also: <a href="https://www.benzinga.com/crypto/25/06/45823339/exclusive-bitcoin-etf-experts-on-past-present-and-future-of-sector-why-us-buying-btc-could-be-monumental-moment">EXCLUSIVE: Bitcoin ETF Experts On Past, Present And Future Of Sector — Why US Buying BTC Could Be &#8216;Monumental Moment&#8217;</a>



Why It's Important: Those familiar with Figma CEO and co-founder Dylan Field may not be surprised to see his preference for investing in Bitcoin.



Field previously <a href="http://www.forbes.com/sites/alexkonrad/2021/03/18/figma-ceo-dylan-field-talks-cryptopunks-nft-beeple-metaverse/" target="_blank" rel="noopener">sold </a>one of the most expensive non-fungible tokens ever, a rare alien CryptoPunk, for $7.5 million in Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>). Field's NFT <a href="https://opensea.io/0x8e7644918b3e280fb3b599ca381a4efcb7ade201?searchQuery=cryptopunk">portfolio </a>still holds 14 CryptoPunks, including one rare alien.



The Figma IPO reveals the company had revenue of $749.0 million in 2024, up 48% year-over-year. The company reported revenue of $228.2 million in the first quarter of 2025, representing a 46% year-over-year increase. Figma shows an 18% non-GAAP operating margin in its filing.



Another highlight in the IPO filing is Figma's customer base, which includes 95% of the Fortune 500 companies and 78% of the Forbes 2000 companies.



Figma's growth and its belief in Bitcoin on the balance sheet could be attractive items to get investors excited about the company's upcoming IPO.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44194484/congressman-on-digital-assets-subcommittee-buys-bitcoin-etf-before-trumps-strategic-reserve-announcement">Congressman On Digital Assets Subcommittee Buys Bitcoin ETF Before Trump&#8217;s Strategic Reserve Announcement</a></li>
</ul>

Figma's Crypto Playbook Revealed Ahead Of IPO: $69 Million In Bitcoin ETFs, $30 Million More Coming Soon

President Donald Trump's widely debated &#8220;Big Beautiful Bill&#8221; <a href="https://www.benzinga.com/news/financing/25/07/46215975/trumps-big-beautiful-bill-offers-seniors-a-6000-bonus-tax-deduction-heres-how-you-qualify-for-the-">passed through the Senate</a> overnight, setting the stage for major fiscal expansion and prompting several market analysts to point to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a potential long-term beneficiary.



Experts suggest the bill's projected impact on government spending, inflation, and the U.S. dollar could drive a shift toward Bitcoin as investors look for alternative stores of value.



What Experts Are Saying: Speaking with Benzinga, Steven Rossi, CEO of Worksport (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKSP#NASDAQ">WKSP</a>), noted that the bill's large spending commitments could increase Bitcoin's appeal as a hedge against inflation.



"The bill could drive Bitcoin's appeal as an inflation hedge amid its $3.3 trillion deficit, with companies like Worksport and Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) holding Bitcoin in their treasuries to counter fiat devaluation," Rossi said. 



However, he warned that without the inclusion of Senator Cynthia Lummis' (R-Wyo.) proposed crypto tax incentives, adoption could remain limited.



Rossi added that the House's potential to add these tax breaks could significantly accelerate Bitcoin's growth.



Joshua Field, Managing Partner at Contango Digital, told Benzinga that unchecked government spending remains a bipartisan issue. 



"It doesn't matter which party is in control, more spending is always on the table," Field said. 



He expects persistent inflationary pressure to continue, which could reinforce Bitcoin's position as a preferred safe-haven asset over the next few years.



<a href="https://editorial.benzinga.com/wp-admin/post.php?post=970310&amp;action=edit">Also Read: Bitcoin&#8217;s Halving Cycle Is &#8216;Over&#8217;, Standard Chartered Affirms: What That Means For You</a>



Steven Willinger, General Partner at Blockchain Builders Fund, said the bill is likely to push asset prices higher but at the expense of the dollar's strength and long-term debt stability. 



Willinger pointed out that the bill's fiscal stimulus, combined with recent political positioning that challenges Federal Reserve Chair Jerome Powell's independence, may lead to faster interest rate cuts. 



"Bitcoin was created as an alternative monetary system and store of value to provide an option outside of the current political constraints," Willinger said. 



He expects Bitcoin and correlated assets to appreciate significantly in the near to medium term.



Willinger also highlighted the bill's indirect impact on the crypto sector, noting that it reduces regulatory hurdles for small crypto businesses and payment platforms. 



He emphasized that the successful passage of the bill could open the door for the GENIUS Stablecoin Act and future digital asset legislation, offering much-needed regulatory clarity for the industry.



James Toledano, COO of Unity Wallet, described the bill as a "double-edged sword" for Bitcoin. 



"The bill's massive fiscal expansion may weaken the dollar and stoke inflation, potentially boosting Bitcoin's ‘digital gold' appeal," Toledano said. 



However, he cautioned that fiscal uncertainty could increase volatility in crypto markets, pointing to Bitcoin's dip below $106,000 during Senate proceedings as an example.



Why It Matters: Kyle Chassé, CEO of MV Global and Founder of PAID, described the bill's approval as an indirect endorsement of Bitcoin's long-term relevance.



"Washington just wrote itself a record-breaking $5 trillion IOU—and every new trillion is free advertising for Bitcoin," Chassé said. 



He noted that rising liquidity and ballooning deficits typically push investors toward decentralized assets like Bitcoin, which are viewed as inflation-resistant stores of value. 



Chassé projected that Bitcoin could reach $225,000 by year-end, supported by the anticipated expansion in the money supply.



While the bill's centerpiece focuses on tax relief for older Americans, particularly a new deduction of up to $6,000 per filer over the age of 65, budget experts warn that the bill could strain Social Security's finances. 



The Committee for a Responsible Federal Budget estimated that the bill's provisions could push the Social Security trust fund's depletion date from early 2033 to late 2032, raising long-term solvency concerns.



As the House prepares to reconcile the final version of the bill, financial markets and crypto traders will closely monitor whether additional crypto-specific tax reforms are included, a key factor experts say could shape Bitcoin's next major move.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/07/46214968/bitcoin-to-hit-200-000-in-2025-but-new-eth-sol-highs-remain-in-doubt-bitwise-says">Bitcoin To Hit $200,000 In 2025, But New ETH, SOL Highs Remain In Doubt, Bitwise Says</a></li>
</ul>



Image: Shutterstock

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