KLEA Crypto Daily: Saturday, July 05, 2025
Here’s a look back at the key stories from July 05, 2025.
The Invest America Act Clears Congress, Granting $1K S&P 500 Accounts to U.S. Children
The Invest America Act has passed Congress, ensuring every U.S. child receives a $1K S&P 500 starter account at birth, as reported.
Suspicion Arises Over $8.6 Billion Bitcoin Transfer, Possible Hack
Concerns mount over an $8.6 billion Bitcoin transfer involving dormant wallets, with speculation of a potential hack being the largest in history, as per Coinbase's Conor Grogan.
Arthur Hayes Predicts $90K Bitcoin Dip Before Rallying to $1M
Arthur Hayes anticipates a short-term Bitcoin retracement to $90,000 but foresees a long-term rally to $1 million, driven by fiscal liquidity surge, as reported by Bitcoin News.
Bitcoin Hashrate Revs up 88 EH/S Since the Low as Miners Race Toward Profitability
Bitcoin's hashrate has surged by 88 exahash per second (EH/s) in the past 11 days, rebounding from a low of 810 EH/s on June 24. Miners are now experiencing an 11.62% increase in profitability compared to a month ago, indicating a significant recovery in mining activity and profitability.
BTCC Exchange Reports Remarkable Q2 2025 Performance with $957 Billion Trading Volume
BTCC, a prominent cryptocurrency exchange, has announced exceptional results for Q2 2025, with a total trading volume exceeding $957 billion and a user base expansion to over 9.1 million globally. The exchange's strategic product expansion and listing of new coins have contributed to substantial growth in both spot and futures trading volumes.
Russia’s Rostec Plans Blockchain Arsenal with New Ruble Stablecoin on TRON Network
Russian state-owned conglomerate Rostec is set to launch RUBx, a stablecoin backed by Russian Rubles, on the TRON ecosystem. The stablecoin will adhere to local regulations, with one-to-one backing by Rubles stored in the Russian state treasury, enhancing transparency and compliance. Rostec's move signifies a significant step towards integrating blockchain technology into state-controlled financial systems.
Brazil’s Central Bank hack spills into crypto as $40m laundered via Bitcoin, Ethereum, and stablecoins
A cyberattack on Brazil’s Central Bank led to $40 million in stolen funds being converted to Bitcoin, Ethereum, and stablecoins. The attack, one of Brazil’s largest financial cybercrimes, involved compromising a technology firm connecting banks to central bank systems, resulting in the diversion of around $140 million from reserve accounts.
Europe’s largest asset manager warns US GENIUS Act could weaken the greenback and disrupt global payments
Europe’s largest asset manager expressed concerns that the US GENIUS Act could unintentionally weaken the US dollar and disrupt global payments. The Act, if implemented, could have far-reaching implications for the stability of the greenback and international financial transactions.
Senator Lummis Introduces New Crypto Tax Bill With a $300 Tax-Free Threshold
Senator Cynthia Lummis introduced a crypto tax bill exempting capital gains under $300 and capping annual exemptions at $5,000. The bill aims to address the perceived unfair treatment of crypto traders and provide clarity for US citizens engaging in the crypto economy.
Shiba Inu’s SHI Launch: When Is the Big Day?
Shiba Inu's SHI stablecoin launch is highly anticipated and could potentially bring new capital inflow towards SHIB, boosting its mainstream attention. The launch timing aligns strategically with the US government's focus on stablecoins to strengthen the economy.
OKX CEO apologizes after ‘false positives’ lock users out of accounts
OKX CEO acknowledges the challenge of "false positives" affecting user accounts due to global compliance efforts. Ensuring compliance remains a key focus for the crypto exchange.
Robinhood’s 24/7 tokenization push threatens NYSE revenues: Galaxy Digital
Galaxy Digital warns that Robinhood's plan to tokenize stocks on its new chain could divert liquidity from major exchanges like NYSE. This move could have significant implications for traditional exchanges and market dynamics.
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Source: KLEA News