AI-powered summaries of the day's top crypto events
US spot Bitcoin ETFs experienced significant inflows of $222 million, marking the largest daily intake since May and ending a 10-day period of withdrawals totaling $2.73 billion. This influx coincided with Bitcoin's price recovery above $61,000 following a weaker-than-expected US jobs report, which eased concerns about potential rate hikes.
President Donald Trump disclosed earning over $1 billion from crypto ventures, sparking discussions in Congress about a digital asset market structure bill and a proposed ban on CBDCs. This revelation has led to calls from Senator Kirsten Gillibrand to ban elected officials from launching meme coins, highlighting concerns over conflicts of interest.
The Bank of Russia announced its readiness for the widespread use of the digital ruble, set to launch in September. The central bank is also exploring stablecoins for international settlements, aiming to complement the digital ruble rather than replace it.
CryptoQuant observed a significant increase in Bitcoin deposits to exchanges, reaching nearly 49,000 BTC, a level seen only four times this year. This surge indicates potential higher volatility in the crypto market as large holders move substantial amounts of Bitcoin onto trading platforms.
The European Securities and Markets Authority (ESMA) cautioned that many prediction market event contracts face a retail ban in the EU. The regulator emphasized that companies cannot bypass financial regulations by marketing binary-style products as event contracts rather than derivatives.