Trump Saves Crypto Banking as ETH Breaks $4K đ
Last week felt like everyoneâs playing a crypto game, I mean, Trump just uno-reversed the banking industry's crypto-hate game, while Binance is out here playing 4D chess with customer funds as they cannot afford any more oopsie moments. Separating user funds from exchange drama is exactly the kind of move that makes everyone sleep better at night. đ
Well, everyone can game all they want but letâs not pretend we didnât see ETH do a sweet 1.7% pump, the first time we've seen $4K since December 2024âŠ. Ladies and gents, we're only $900 away from an all-time high. đ
Here's what's cooking in today's edition:
- Trump signs executive order to end banking discrimination against crypto industry
- Ether price hits $4K for first time since December 2024
- Binance Moves Customer Funds to BBVA in New Custody Setup
- Meta Removes 6.8 Million WhatsApp Accounts Linked to Pig Butchering Scam Rings
Trump signs executive order to end banking discrimination against crypto industry
President Donald Trump signed an executive order on Aug. 7 to halt what his administration called discriminatory banking practices against the crypto industry. The order bars federal regulators from using âreputational riskâ as justification to influence banksâ decisions about working with legal businesses. According to the administration, the digital asset sector has been disproportionately affected by behind-the-scenes pressure from regulatory agencies, leading to abrupt account closures, payroll disruptions, and loss of financial access for law-abiding firms.
Ether price hits $4K for first time since December 2024
Data from Cointelegraph Markets Pro and TradingView showed ETH/USD reaching $4,012 on Bitstamp. Gaining around 1.7% on the day, the pair made history for 2025 by breaching the key psychological level, now under $900 from new all-time highs. Reacting, popular trader and analyst Rekt Capital was among those eyeing Etherâs increasing slice of the total crypto market cap. âEthereum Dominance is already ~50-60% of the way in its Macro Uptrend,â he calculated in an X post. An accompanying chart compared current price action to the previous ETH bull run through 2021.
Binance Moves Customer Funds to BBVA in New Custody Setup
Binance is taking another step toward damage control by teaming up with BBVA, Spainâs second-biggest bank. The new arrangement allows customers to post U.S. Treasuries as margin, which BBVA will hold outside the exchange. Itâs a clear attempt to separate user funds from exchange risk, and it shows Binance is trying to clean up its image. The move follows intense regulatory pressure. After a multibillion-dollar fine last year and ongoing questions around user fund safety, Binance has little room to play it loose.
Meta Removes 6.8 Million WhatsApp Accounts Linked to Pig Butchering Scam Rings
Meta has removed more than 6.8 million WhatsApp accounts linked to âpig butcheringâ scam operations run by organized crime syndicates in Southeast Asia this year, part of a broader effort to clamp down on criminals trying to steal crypto from victims. Typically, pig butchering scams begin with an unsolicited message and escalate into conversations that shift onto encrypted messaging apps or private chats. The end goal is to convince victims to transfer moneyâoften cryptoâto fake businesses or "investment" platforms.
Other Highlights Worth Mentioning
Chainlink Launches Real-Time Data Streams for U.S. Stocks and ETFs - Binance
Coinbase Introduces In-App DEX Trading, Boosting Several Base Tokens - BeInCrypto
Fake Ethereum trading bots on YouTube help scammers steal over $900K - Cryptoslate
Binance Founder Changpeng Zhao Files Motion to Dismiss $1.8B FTX Lawsuit - Decrypt
COINIGY FACT OF THE DAY.
On this day in 2024, Thailand launches a digital-asset regulatory sandbox.
Thailandâs SEC announced a Digital Asset Regulatory Sandbox on Aug 11, 2024 to let projects test services in a controlled environment while under regulatory oversight â a clear sign of regional regulators building structured on-ramps for crypto innovation.
COINIGY MEME OF THE WEEK
