KLEA Crypto Daily: Monday, July 07, 2025

Published: July 8, 2025 – 17:40 UTC

Here’s a look back at the key stories from July 07, 2025.

CoreWeave Announces $9 Billion Acquisition of Bitcoin Miner Core Scientific

AI infrastructure firm CoreWeave has revealed a $9 billion all-stock deal to acquire Bitcoin miner Core Scientific, expanding its data center capacity to 1.3 GW in the U.S. with potential for further growth. The acquisition is set to finalize in Q4 2025.

US Government Withdraws Lawsuit Against Crypto Mixer Tornado Cash

The U.S. government has withdrawn its lawsuit against crypto mixer Tornado Cash after agreements were reached with the Department of the Treasury and Coin Center, rendering the suit moot as of June 28, 2025. The withdrawal marks a shift in the legal stance on the matter.

Citi Raises Nvidia Stock Price Target Amid AI Compute Growth

Citi Bank has increased its price target for Nvidia (NVDA) stock, citing a rise in AI compute Total Addressable Market (TAM) estimates to $563 billion for 2028. The heightened forecast reflects expectations of significant sales growth for Nvidia, positioning it as a key player in global AI infrastructure development.

Trump's Crypto Ventures Threaten Legislation, Unnoticed by Voters

A poll by a pro-crypto group reveals that most voters are unaware of President Trump's personal digital assets ventures, which have recently posed a threat to crypto legislation.

Robinhood's OpenAI and SpaceX Tokens Face EU Scrutiny

Robinhood's controversial tokens linked to OpenAI and SpaceX are under scrutiny in the EU, as they offer indirect exposure to these companies through derivatives, raising regulatory concerns.

Ethereum Eyes 16.7M Gas Cap Under Vitalik Buterin’s New Proposal

Ethereum co-founder Vitalik Buterin and researcher Toni Wahrstätter propose a 16.77 million gas limit per transaction to enhance security and efficiency. The change aims to mitigate DoS risks and network load issues, especially with complex DeFi and zero-knowledge applications.

Bitcoin, Ethereum, Dogecoin Dip Slightly While XRP Holds Firm On Tariff-Driven Monday

President Trump's new tariffs lead to a slight dip in cryptocurrency markets, with Bitcoin, Ethereum, and Dogecoin seeing a decrease in prices. XRP remains stable amidst the market fluctuations, with notable statistics showing increased transaction volume and active addresses.

XRP Crushes Ethereum with 80% of Supply in Profit as Stealth Accumulation Targets New High

XRP stands out in the crypto market with 80% of its supply in profit, surpassing Ethereum's profitability. Positive derivatives open interest in the XRP ecosystem signals rising market interest and institutional capital inflow, potentially driving further investment in XRP.

Elon Musk Launches ‘America Party’, Calls Fiat Hopeless and Backs Bitcoin

Tech billionaire Elon Musk has launched the America Party, a new political movement challenging the U.S. two-party system. The party's platform includes embracing Bitcoin while declaring fiat currency "hopeless," attracting interest in both political and cryptocurrency circles.

The U.S. government deposits $218,000 worth of ETH to Coinbase

The U.S. government has deposited $218,000 worth of ETH to Coinbase, marking a significant move in the crypto space. This transaction highlights increasing government involvement and interest in cryptocurrencies.

Over 80,000 Dormant Bitcoins Moved for the First Time in a Decade

More than 80,000 Bitcoins, dormant since the "Satoshi Era," were transferred, raising questions about potential market impact. The sudden activation of these wallets led to speculation on potential sell-offs and added volatility to the crypto market.

No Monday Buy, but Strategy Reports $14B Bitcoin Gain

Strategy reported a staggering $14 billion in unrealized gains in the second quarter of 2025, with its Bitcoin stash reaching $64.36 billion by June 30. Despite not making a Monday buy announcement, the firm saw a significant fair value increase due to Bitcoin trading around $107,751 on Coinbase.

4 signs that the Ethereum price uptrend to $5K is back in play

Despite Ether facing rejection at $2,800, bullish signs indicate a potential uptrend towards $5,000 in 2025. Market analysts suggest that Ethereum's price rally could be fueled by both technical and fundamental factors.

Bonk Surges 58% In 7 Days: Why Is It Outperforming Dogecoin, Shiba Inu?

Bonk has surged 58% in the past week, outperforming popular meme coins like Dogecoin and Shiba Inu. The rally is attributed to increasing ecosystem traction and community engagement, with Bonk's fully diluted valuation standing at $2 billion and potential upside towards $4 billion.

Pump.fun Memecoin Dominance Cracks Amid Rising Competition

Pump.fun's memecoin dominance is declining as LetsBonk emerges as a new power player in the Solana memecoin market, surpassing Pump.fun in token launches in a single day. This shift reflects diminishing interest in joke coins and increasing competition among meme coin projects.

XRP Price Watch: Market Cap Hits $135B Amid 5.5% Weekly Surge

XRP is experiencing a 5.5% weekly gain, trading at $2.342 with a market capitalization of $135 billion. The cryptocurrency's controlled but bullish market sentiment is evident as it consolidates gains across multiple timeframes, with a global trade volume of $2.3 billion.

Paradigm Leads $11.5 Million Funding Round in Kuru Labs

Paradigm has spearheaded an $11.5 million funding round in Kuru Labs, a decentralized exchange blending Central Limit Order Books (CLOBs) and Automated Market Makers (AMMs). This investment underscores growing interest and support for innovative decentralized exchange platforms in the crypto space.

Real Estate Giant MURANO Announces $500 Million Bitcoin Purchase

Real estate giant MURANO has revealed plans to buy $500 million worth of Bitcoin for their reserve, signaling a significant move towards cryptocurrency adoption in traditional finance.

SunnyMining Launches New Free Mobile Cloud Mining App for BTC, DOGE, and LTC

SunnyMining has launched an upgraded mobile cloud mining app, enabling users to mine Bitcoin, Dogecoin, and Litecoin effortlessly with no equipment needed, simplifying passive crypto income generation.

Scottie Pippen Reveals Top Crypto Picks Including Bitcoin, XRP, and Dogecoin

NBA champion Scottie Pippen shares his crypto watchlist featuring major altcoins and meme coins like Bitcoin, Ethereum, Solana, BNB, XRP, Cardano, Dogecoin, Shiba Inu, and Chainlink, potentially influencing investor sentiment towards these assets.

Traders Bet Against Bitcoin Rally as Funding Rates Slide on Binance

Bitcoin's price briefly rose above $109,000 early Monday, with a key trend being the plunging funding rates on Binance. Despite Bitcoin consolidating within the $100,000-$110,000 range, traders are increasingly opening short positions, indicating a mismatch between price action and market sentiment.

DEXs Are Quietly Turning Into CEXs. Here’s What That Means For Traders

Major cryptocurrency exchanges like Coinbase, Bybit, and Binance are blending CEX stability with DEX features, creating a hybrid model that aims to de-risk DeFi for a mainstream finance audience. With DeFi growing rapidly, these exchanges are incorporating Web3 protocols into their platforms to tap into the expanding market.

How Bhutan plans to boost its local economy with crypto tourism

Bhutan's Department of Tourism aims to enhance its struggling tourism sector by leveraging crypto payments. The country's payment infrastructure challenges have hindered tourism growth, prompting a shift towards crypto-friendly initiatives to stimulate the local economy.

Digital Asset Inflows Reach $1.04 Billion, Bitcoin Dominates

Digital asset investment products saw significant inflows of $1.04 billion last week, marking the 12th consecutive week of growth. Bitcoin led the way with $790 million in inflows, while Ethereum added $226 million. This trend indicates a growing interest in digital assets among investors.

BlackRock Warns of De-Dollarization Risks Amid Surging US Debt

BlackRock expressed concerns about the rising US government debt and its potential impact on investor interest in US treasuries and the dollar. The asset manager highlighted the risks of de-dollarization as a consequence of the escalating debt levels, signaling a shift in global financial markets.

BBVA Launches Crypto Services for Spanish Retail Clients

BBVA, Spain's second-largest bank, introduced cryptocurrency trading and custody services for retail customers, enabling them to buy, sell, and hold Bitcoin and Ethereum directly through the bank's mobile app. This move aligns with the growing adoption of digital assets in traditional financial institutions and provides easier access for retail investors.

Ethereum-Based Little Pepe Hits $4M Presale Milestone

LILPEPE, an Ethereum meme coin, has raised over $4 million in its presale, backed by a Layer 2 EVM-compatible blockchain. The project aims to establish a meme-centric economy, attracting both retail and crypto investors.

Dubai Partners With Crypto.com to Tokenize Real Estate

The Dubai Land Department collaborates with Crypto.com to enable real estate transactions using digital currencies, aligning with the Dubai Real Estate Strategy 2033. This move supports blockchain adoption in real estate transactions and investor verification.

UK Sentences 2 Men to Prison Over $2M Cold-Calling Crypto Scam

Two individuals receive over five years in prison for defrauding 65 investors in a crypto scheme, highlighting the legal consequences of fraudulent activities in the crypto space. The sentencing underscores the authorities' crackdown on crypto-related scams.

China Warns Against Illegal Use of Stablecoins for Fundraising

The Shenzhen government of China issued a warning about the illegal use of stablecoins for fundraising activities. Some entities have been illegally raising funds using concepts like stablecoins and digital assets, potentially engaging in illegal fundraising and fraud.

Brazil Proposes BRICS Currency and Tether Promotes Green Bitcoin Mining

Brazil has suggested the creation of a new BRICS trade currency, while Tether has launched an initiative to promote green bitcoin mining. Additionally, the Central Bank of Brazil faced a hacking incident, marking significant developments in the Latin American crypto space.

Significant Inflows Recorded in Bitcoin and Ethereum ETFs

Between June 30 and July 3, spot Bitcoin ETFs observed a net inflow of $294 million, with BlackRock's IBIT leading with $178 million. During the same period, spot Ethereum ETFs also saw a net inflow of $219 million, indicating continued investor interest in cryptocurrency ETF products.

Dogecoin Surges as Elon Musk Launches America Party

Dogecoin experienced a price increase of over 6% following Elon Musk's announcement of the "America Party." The meme-inspired cryptocurrency saw a spike in trading volume and a surge in large transactions valued at over $100,000, reflecting heightened speculative activity in the market.

Source: KLEA News