Crypto markets are on edge after a weekend marked by intensifying industry drama and regulatory scrutiny. Coinbase denied allegations of covert attacks on Binance amid leaked reports of political maneuvering, while also suing Oregon officials over abrupt policy changes and withheld records. Meanwhile, Binance faces fresh controversy over alleged secret support for a Trump family stablecoin project, and the Bank of England's governor issued a stark warning against big banks issuing private stablecoins.
Bank of England Governor Andrew Bailey has warned that allowing major banks to issue their own private stablecoins could pose risks to financial stability. Bailey joins other European officials in expressing concern over the rise of stablecoins, and he also cautioned investors against buying Bitcoin, describing it as a volatile and unbacked asset.
House Democrats, led by Maxine Waters and Stephen Lynch, announced on July 11 that next week will be designated as "Anti-Crypto Corruption Week" to counter Republican-led efforts to advance digital asset legislation, including the GENIUS and CLARITY Acts. The move comes as House Republicans plan a "crypto week" to consider three digital asset bills. Some Democrats are urging their colleagues to block these bills and are criticizing party members who support what they describe as "Trump's crypto corruption," though party leadership has largely remained uninvolved.
Coinbase has filed a lawsuit against Oregon Governor Tina Kotek and Attorney General Dan Rayfield, alleging that the state made abrupt changes to its cryptocurrency policy without following proper legal procedures or involving the public. The company also accuses Governor Kotek's office of withholding public records related to these policy shifts and previous charges brought against Coinbase.
Administrators of Ziglu, a collapsed UK-based crypto firm now in special administration, have identified a $2.7 million shortfall. This deficit increases the risk of total investment loss for thousands of customers, with management accused of misappropriating customer funds.
A federal judge has approved an agreement between BlockFi and the U.S. Department of Justice, closing a $35 million lawsuit related to crypto asset transfers. The settlement ends one of the largest legal disputes connected to BlockFi's bankruptcy proceedings.
Executives at MoonPay have fallen victim to a cryptocurrency scam that resulted in a loss of $250,000, with the fraudulent accounts reportedly originating from Nigeria. The incident highlights the increasing prevalence and sophistication of crypto-related scams, affecting even industry experts as digital assets become more mainstream.
James Wynn, a high-leverage cryptocurrency trader known for making large bets, has deactivated his X account after incurring losses in the nine-figure range.
Top cryptocurrency exchanges are embroiled in controversy following media reports alleging political influence and covert attacks, with Coinbase publicly denying accusations of targeting rival Binance. The situation has heightened industry tensions and fueled market speculation.
Many crypto users and industry observers are raising concerns about global exchange MEXC following reports of account freezes and withdrawal restrictions.
Gracy Chen has been appointed as the CEO of Bitget, making her the first female CEO of the company and the only woman currently leading one of the top 10 centralized cryptocurrency exchanges, according to a recent interview featured in CryptoSlate's new weekly series, Slate Sundays.
Bitcoin reached record highs this week while experiencing its lowest daily exchange inflows in over a decade, signaling remarkably low selling pressure according to Cryptoquant research.
A new survey indicates that interest in digital assets has expanded beyond early adopters, with more wealthy investors now considering cryptocurrencies as a serious component of their investment portfolios.
Real-world asset tokens represent a new type of financial wrapper similar to exchange-traded funds (ETFs), according to CoinFund president Christopher Perkins. He noted that just as ETFs debuted on US exchanges in 1993 and transformed investment, these tokens could play a comparable role in modern finance.
A stablecoin startup founded by the son of VanEck's CEO has raised $50 million in funding. The stablecoin sector, which currently has a market capitalization exceeding $257 billion, is drawing significant attention from both decentralized finance (DeFi) and traditional finance (TradeFi) participants. Dollar-pegged stablecoins are increasingly being adopted and issued by major industry players.
A report alleges that Binance, a major cryptocurrency exchange, secretly assisted the Trump family's cryptocurrency firm by writing the core code for its stablecoin, USD1. This covert support reportedly occurred before Binance founder Changpeng Zhao sought a presidential pardon.
Zerohash, a crypto and stablecoin infrastructure startup, is reportedly close to raising approximately $100 million in a funding round that would value the company at nearly $1 billion.
Circle's high-profile IPO last month has renewed attention on crypto company listings, prompting speculation among venture capitalists about which firms in the sector could go public next.
The week of 7 July to 12 July 2025 saw the closure of several major acquisition deals in the crypto industry, with top brands such as OpenSea and PumpFun finalizing transactions. These deals mark a significant continuation of heightened merger and acquisition activity as Q3 2025 begins.
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