{"id":5200,"date":"2025-07-21T02:39:59","date_gmt":"2025-07-21T02:39:59","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-soars-exchanges-breached-trump-signs-stablecoin-law-weekly-recap\/"},"modified":"2025-07-21T02:40:01","modified_gmt":"2025-07-21T02:40:01","slug":"bitcoin-soars-exchanges-breached-trump-signs-stablecoin-law-weekly-recap","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-soars-exchanges-breached-trump-signs-stablecoin-law-weekly-recap\/","title":{"rendered":"Bitcoin soars, exchanges breached, Trump signs stablecoin law | Weekly Recap"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">From historic highs to high-profile hacks, the crypto market packed a punch this week. Bitcoin shattered records above $123,000 as corporate treasuries rushed to accumulate more, even at premium prices. <\/p>\n<p class=\"is-style-default\">Meanwhile, President Trump signed the first federal stablecoin law, JPMorgan warmed to digital dollars, and Australia flagged crypto as a financial crime priority. But the week wasn\u2019t without turbulence\u2014major exchanges like CoinDCX and BigONE reported multimillion-dollar breaches.<\/p>\n<p class=\"is-style-default\">Also, Ripple\u2019s Chris Larsen made eyebrow-raising XRP transfers. Read on for a recap of this week\u2019s most noteworthy crypto headlines. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">CoinDCX faces $44 million security compromise<\/h3>\n<ul class=\"wp-block-list\">\n<li>An Indian cryptocurrency exchange, CoinDCX, suffered a substantial breach Saturday morning.<\/li>\n<li>CEO Sumit Gupta confirmed the $44 million loss resulted from a \u201csophisticated server breach.\u201d<\/li>\n<li>Blockchain investigator ZachXBT identified the incident approximately 17 hours after it commenced.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Trump enacts major stablecoin legislation<\/h3>\n<ul class=\"wp-block-list\">\n<li>President Donald Trump signed the GENIUS Act into law Friday afternoon.<\/li>\n<li>This marks it as the first comprehensive federal regulatory framework for stablecoins in United States history.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Ripple executive transfers substantial XRP holdings<\/h3>\n<ul class=\"wp-block-list\">\n<li>Co-founder and Executive Chairman Chris Larsen <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/xrpscan.com\/account\/rhREXVHV938ToGkdJQ9NCYEY4x8kSEtjna\" target=\"_blank\" rel=\"nofollow\">transferred $26 million<\/a> worth of XRP (XRP) to Coinbase through four separate transactions, each involving 2 million tokens, valued at over $6.5 million per batch.<\/li>\n<li>Additional Thursday transactions saw Larsen transfer XRP batches exceeding $40 million to unidentified wallet addresses, according to blockchain monitoring data.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">Corporate Bitcoin accumulation reaches unprecedented levels<\/h3>\n<ul class=\"wp-block-list\">\n<li>Treasury companies collectively acquired 244,991 Bitcoin (BTC) through June\u2019s conclusion.<\/li>\n<li>The number of firms maintaining Bitcoin reserves nearly doubled from 70 entities at the beginning of the year to 134 companies by mid-year, according to K33\u2019s analysis.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Australia designates cryptocurrency as priority financial crime concern<\/h3>\n<ul class=\"wp-block-list\">\n<li>The nation\u2019s financial intelligence agency <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.austrac.gov.au\/news-and-media\/media-release\/austrac-unveils-2025-26-priorities-crack-down-financial-crime\" target=\"_blank\" rel=\"nofollow\">identified<\/a> crypto as a primary threat Wednesday.<\/li>\n<li>These new measures target cryptocurrency-related financial crimes through expanded monitoring and compliance requirements for digital asset service providers.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Coinbase launches comprehensive Base mobile application<\/h3>\n<ul class=\"wp-block-list\">\n<li>The exchange debuted its rebranded mobile platform during a packed Los Angeles event Wednesday.<\/li>\n<li>This announcement has transitioned the previous Coinbase Wallet into an expanded \u201ceverything app\u201d for blockchain interactions.<\/li>\n<li>Base integrates multiple functionalities including creation tools, earning mechanisms, messaging capabilities, gaming features, and artificial intelligence interactions within a unified interface.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Roger Ver challenges Spanish extradition ruling<\/h3>\n<ul class=\"wp-block-list\">\n<li>The cryptocurrency pioneer, widely recognized as \u201cBitcoin Jesus,\u201d <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/news.bloomberglaw.com\/crypto\/bitcoin-jesus-sues-spain-to-block-us-extradition-over-tax-case\" target=\"_blank\" rel=\"nofollow\">filed<\/a> suit with the European Court of Human Rights against Spain\u2019s extradition decision.<\/li>\n<li>Ver\u2019s legal action claims Spanish authorities violated his protected rights when ruling he should face U.S. tax evasion charges, according to Bloomberg Law reporting.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">BigONE suffers security breech<\/h3>\n<ul class=\"wp-block-list\">\n<li>The Seychelles-based trading platform lost a substantial amount of funds following a targeted attack on its hot wallet infrastructure.<\/li>\n<li>Platform officials detected irregular activity during early July, spanning 16 hours, and subsequently confirmed that the breach resulted from third-party infiltration methods.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">JPMorgan chief to embrace stablecoins?<\/h3>\n<ul class=\"wp-block-list\">\n<li>JPMorgan CEO Jamie Dimon, a longtime crypto skeptic, indicated during the recent banking call that the banking giant plans to expand participation in stablecoin markets.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Strategy accumulates additional Bitcoin<\/h3>\n<ul class=\"wp-block-list\">\n<li>The treasury company purchased 4,225 Bitcoin for $472 million between July 7 and 13, paying an average price of $111,827 per coin.<\/li>\n<li>This acquisition brings Strategy\u2019s total holdings to 601,550 Bitcoin.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Bitcoin establishes new price record above $123,000<\/h3>\n<ul class=\"wp-block-list\">\n<li>BTC surpassed $123,000 on July 14, setting another historic milestone as regulatory optimism builds among U.S. lawmakers.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>From historic highs to high-profile hacks, the crypto market packed a punch this week. Bitcoin shattered records above $123,000 as corporate treasuries rushed to accumulate more, even at premium prices.&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=5200"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5200\/revisions"}],"predecessor-version":[{"id":5201,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5200\/revisions\/5201"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1657"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=5200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=5200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=5200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}