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Quick Take President Trump’s announcement on Sunday, directing a working group to “move forward” on a U.S. Crypto Strategic Reserve, sent prices soaring, with the BTC, ETH, XRP, SOL and ADA assets named all rallying between 10% and 70% before correcting on Monday. Standard Chartered Head of Digital Asset Research Geoff Kendrick said Trump’s Crypto Reserve plan would provide long-term stability for bitcoin, bringing his $500,000 target by 2029 back into focus.
Quick Take Sam Bankman-Fried led Anthropic’s Series B, with a $500 million investment to acquire approximately 13% of the AI development firm. This initial $500 million investment would now be worth close to $2.5 billion, assuming the usual amounts of dilution. Bankman-Fried, who has long argued that FTX was solvent but illiquid, is apparently pleading for clemency from President Trump.
Quick Take Zora’s forthcoming token is intended “for fun only” and doesn’t give holders governance claims. Zora joins Magic Eden and OpenSea as other NFT marketplaces establishing token launches in recent months.
Quick Take Yuga Labs, the company behind the Bored Ape Yacht Club and Cyberpunk NFT collections, announced that the SEC has closed its investigation into the company. The SEC has dropped a number of investigations into crypto companies in recent days, such as Coinbase, Kraken, Uniswap and more.
Quick Take While lending protocols are designed to handle liquidations through automated processes, the scale of February’s event highlights how quickly market conditions can deteriorate when broader sentiment shifts. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take President Trump announced plans for a U.S. “crypto strategic reserve,” surprising many by including XRP, SOL and ADA alongside BTC and ETH. Industry experts questioned the inclusion of XRP and ADA, arguing they lack the developer activity and decentralization seen in BTC and ETH.
Quick Take Nasdaq filed a 19b-4 on behalf of Grayscale’s spot Hedera ETF on Monday. Bloomberg Analyst Eric Balchunas previously said Hedera and Litecoin ETF applications have the “best odds” of approval.
- 01:12Stablecoin Infrastructure Startup Zerohash Plans $100 Million Fundraising at Nearly $1 Billion Valuation, Led by Interactive BrokersOn July 12, it was reported that cryptocurrency and stablecoin infrastructure startup Zerohash plans to raise $100 million at a valuation close to $1 billion. Publicly listed online broker Interactive Brokers will lead this funding round. Founded in 2017, Zerohash provides backend infrastructure for banks, brokers, and fintech companies, helping them launch cryptocurrencies, NFTs, and other digital assets to their clients.
- 01:09A major whale purchased 349 billion PEPE tokens yesterday, with a total holding valued at $6.23 millionOdaily Planet Daily reported that, according to Onchain Lens monitoring, a certain whale spent $4.5 million yesterday to purchase 349.02 billion PEPE tokens. Currently, this whale holds 508.75 billion PEPE, valued at $6.23 million.
- 01:01Elon Musk emerges as the leading candidate to succeed Linda Yaccarino as CEO of XAccording to a report by Jinse Finance, Polymarket has revealed that Elon Musk has become the leading candidate to succeed Linda Yaccarino as CEO of X (formerly Twitter). His probability of taking the position has risen from 16% to 21%.