XRP eyes 20% surge in August, crypto returns to US: Hodler’s Digest, July 27 – Aug. 2

2 weeks ago

Top Stories of The Week

SEC Chair Aktins calls to ‘reshore crypto’ arsenic companies determination backmost to the US

Crypto companies are beginning to instrumentality to the United States arsenic apical officials awesome a displacement toward friendlier regularisation and home growth.

In a Thursday code astatine the America First Policy Institute, SEC Chair Paul Atkins called connected the state to “reshore the crypto businesses that fled,” reinforcing a broader effort by the medication of President Donald Trump to presumption the US arsenic a planetary hub for integer assets.

Treasury Secretary Scott Bessent said connected Friday that the US has entered the “golden property of crypto” and issued a nonstop telephone to builders: “Start your companies here. Launch your protocols here. And prosecute your workers here.”

Backed by clearer regulations and high-level governmental support, crypto companies are opening to respond, with immoderate relocating operations to the US from abroad, and others, similar Kraken and MoonPay, expanding their home footprint successful effect to the argumentation shift.

US SEC rolls retired ‘Project Crypto’ to rewrite rules for integer assets

US Securities and Exchange Commission Chair Paul Atkins has announced “Project Crypto,” an inaugural to modernize the bureau for the integer concern property and found wide regulations for integer assets successful the United States.

Atkins said Project Crypto was successful nonstop effect to recommendations successful a caller study by the President's Working Group connected Digital Asset Markets.

Atkins projected easing licensing rules to let for aggregate plus classes oregon instruments to beryllium offered by brokerages nether a azygous license, portion besides creating a wide marketplace operation separating commodities, which astir cryptocurrencies autumn under, from securities.

Regulatory exemptions oregon grace periods should beryllium afforded to early-stage crypto projects, archetypal coin offerings, and decentralized bundle to let these projects capable country to innovate, without crushing them nether the value of litigation oregon fearfulness of reprisal by the SEC, Atkins said.

99% of CFOs program to usage crypto agelong term, 23% wrong 2 years: Deloitte

Cryptocurrency is becoming a fiscal readying priority, with 99% of main fiscal officers astatine billion-dollar firms expecting to usage it for concern successful the agelong term, according to Deloitte’s Q2 2025 survey of CFOs.

The survey, conducted among 200 CFOs astatine companies with implicit $1 cardinal successful revenue, revealed that 23% expect their treasury departments to usage crypto for investments oregon payments wrong the adjacent 2 years. This fig climbs to astir 40% among CFOs astatine firms with gross of much than $10 billion.

Despite the momentum, concern chiefs stay cautious. Concerns astir terms volatility apical the list, with 43% of respondents citing it arsenic a superior obstruction to adopting non-stable cryptocurrencies similar Bitcoin and Ether.

Other large concerns see accounting complexity (42%) and regulatory uncertainty (40%), the second of which has been compounded by shifting US policy.

UK regulator lifts prohibition connected crypto ETNs for retail investors

The United Kingdom’s Financial Conduct Authority (FCA) has lifted the prohibition connected retail access to cryptocurrency exchange-traded notes (cETNs).

Companies successful the UK volition soon beryllium capable to connection retail consumers cETNs, with regulatory changes effectual Oct. 8, according to an FCA announcement connected Friday.

The caller improvement successful the UK’s regulatory attack connected crypto comes aft the FCA banned crypto ETNs successful January 2021, citing the utmost volatility of crypto assets and a “lack of morganatic concern need” for retail consumers.

“Since we restricted retail entree to cETNs, the marketplace has evolved, and products person go much mainstream and amended understood,” David Geale, FCA enforcement manager of payments and integer finance, said successful the announcement.

CoinDCX worker arrested successful transportation with $44M crypto hack: Report

An worker of CoinDCX, a cryptocurrency speech that was hacked for $44 cardinal successful mid-July, was arrested successful India successful transportation with a information breach, according to aggregate section reports.

Bengaluru City constabulary detained CoinDCX bundle technologist Rahul Agarwal aft hackers allegedly managed to compromise his login credentials to siphon the exchange’s assets, The Times of India reported connected Thursday.

The apprehension followed a ailment and interior probe by CoinDCX relation Neblio Technologies, which determined that Agarwal’s credentials had been compromised via his enactment laptop, allowing unauthorized entree to the company’s servers.

During questioning arsenic his laptop was seized, Agarwal, 30, denied engagement successful the crypto theft, but admitted to taking connected part-time enactment for up to 4 backstage clients portion inactive employed astatine CoinDCX.

Winners and Losers

At the extremity of the week, Bitcoin (BTC) is astatine $113,936, Ether (ETH) astatine $3,527 and XRP astatine $3.01. The full marketplace headdress is astatine $3.71 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the apical 3 altcoin gainers of the week are Four (FORM) astatine 12.96%, Toncoin (TON) astatine 11.49% and Story (IP) astatine 10.00%.

The apical 3 altcoin losers of the week are Fartcoin (FARTCOIN) astatine 30.55%, Bonk (BONK) astatine 28.08% and Virtuals Protocol (VIRTUAL) astatine 23.03%. For much info connected crypto prices, marque definite to work Cointelegraph’s marketplace analysis.

Memorable Quotations

Ted Pillows, crypto capitalist and entrepreneur:

“I deliberation BTC could interruption supra this level adjacent period which volition commencement the adjacent limb up.”

Ray Dalio, laminitis of Bridgewater Associates:

“[If] you were optimizing your portfolio for the champion return-to-risk ratio, you would person astir 15% of your wealth successful golden oregon Bitcoin.”

The DeFi investor, crypto analyst:

“Stablecoins are the merchandise that tin onboard the archetypal cardinal radical on-chain.”

Standard Chartered Bank:

“We deliberation they [Ether treasury firms] whitethorn yet extremity up owning 10% of each ETH, a 10x summation from existent holdings.”

Phong Le, president and CEO of Strategy:

”We’re capitalized connected the astir innovative exertion and plus successful the past of mankind, connected the different hand, we’re perchance the astir misunderstood and undervalued banal successful the US and perchance the world.”

Joe Lubin, CEO of Consensys and president of SharpLink Gaming:

“We judge that we’ll beryllium capable to accumulate much Ether — per afloat diluted stock — overmuch faster than immoderate different Ethereum-based project, oregon surely faster than the Bitcoin-based projects.”

Top Prediction of The Week

XRP’s ‘bullish divergence’ raises 20% terms rally imaginable successful August

XRP whitethorn beryllium gearing up for a short-term rebound, with signs pointing to a imaginable 20% terms jump by the extremity of August.

On its four-hour candle chart, XRP shows a bullish divergence, a communal awesome often hinting astatine a imaginable inclination reversal.

In this case, XRP’s terms has been making little lows, portion the comparative spot index, a momentum indicator, is making higher lows. Such a disconnect suggests that the caller selling unit has been losing strength.

Top FUD of The Week

Crypto hacks apical $142M successful July, with CoinDCX starring losses

Bad actors and scammers stole astatine slightest $142 million from the crypto abstraction successful July crossed 17 abstracted attacks, with the exploit of crypto speech CoinDCX accounting for the astir important loss.

The full monthly losses represented a 27% summation from the $111 cardinal successful June, blockchain information steadfast PeckShield said successful an X station connected Friday.

However, it’s inactive a 46% driblet from the aforesaid clip past year, erstwhile July 2024 saw $266 cardinal taken by hackers, with the $230 cardinal breach of Indian crypto speech WazirX accounting for the lion’s stock astatine the time.

Tornado Cash co-founder faces assemblage aft closing arguments wrap

Jurors volition present decide the destiny of Roman Storm, co-founder of cryptocurrency mixing work Tornado Cash, aft prosecutors and the defence delivered closing arguments connected Wednesday.

The closing arguments signifier of a proceedings is erstwhile some sides summarize a lawsuit earlier a justice oregon jury, making their cases and trying 1 past clip to transportation earlier the fact-finder goes disconnected to deliberate.

Storm is lasting proceedings successful the Southern District of New York successful a lawsuit that could acceptable a precedent for however overmuch work developers person for decentralized bundle that is utilized illegally.

US prosecutors allege that Storm conspired to launder money, violated US sanctions and operated an unlicensed money-transmitting business. If convicted, Storm could look up to 40 years successful prison.

Indonesia raises taxes connected crypto speech income and miners

The Indonesian authorities updated its taxation policies for the crypto industry, raising levies connected traders and miners portion removing value-added taxation obligations for buyers.

On Monday, Indonesia’s Ministry of Finance issued aggregate regulatory updates, including regulations No. 50/2025 and No. 53/2025, which amend crypto taxation rates and compliance requirements effectual Aug. 1.

According to Reuters, the caller model has accrued the income taxation connected crypto plus income made connected home exchanges from 0.1% to 0.21%.

The caller taxes are importantly higher for crypto income made connected overseas crypto exchanges, up from the existent 0.2% to 1%, the study noted.