This week, bitcoin reached a new all-time high (above $118K) driven by significant ETF flows and at least $280 million in new bitcoin treasury investments.
Treasury projects are emerging for Ethereum and Solana. Notably, SharpLink’s ETH treasury acquired 10,000 ETH, while Bitmine announced plans to raise $2 billion for further ETH purchases. As a result, large-cap alternatives like ETH and SOL saw nearly year-to-date highs, buoying other projects like SUI.
It was a week of optimism in the crypto markets as new legislation approaches and investments from institutional sources grow.
The U.S. House signaled it would back the Senate version of the GENIUS stablecoin bill, facilitating its final passage. Meanwhile, leaders from the industry convened on Capitol Hill to advocate for a comprehensive “Market Structure” bill.
However, it wasn’t all smooth sailing for innovators. A fintech faced skepticism regarding its tokenized stock plans, and the state AG initiated a lawsuit claiming deceptive crypto pricing.
The Trump family’s crypto endeavors continued to attract attention. Trump Media revealed a multi-asset ETF initiative, while Tron founder Justin Sun made headlines by purchasing $100 million of $TRUMP, aiming to expand the meme coin’s presence in Asia and Africa.
Next week, dubbed “Crypto Week,” is poised to be historic for news in the crypto space. The House is set to review stablecoin and market structure legislation, while the Senate has scheduled a hearing on digital asset taxation. First a trickle, then a flood.
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