California Governor Gavin Newsom said he will intensify his attacks on President Donald Trump by launching a memecoin and expanding a wave of social media posts designed to parody the former president’s online persona, NBC Los Angeles reported.

The governor made the revelations during a recent appearance as a guest co-host on the “Pivot” podcast with journalist Kara Swisher.

He said he launched the initiative to highlight what he called the absurdity of Trump’s online persona, including the President’s frequent use of capital letters and AI-generated images depicting himself as a superhero.

Newsom said the coin, slated to be called “Trump Corruption,” will fund his Campaign for Democracy and redistricting efforts. He added that the project is part satire but reflects deep concerns about the state of U.S. democracy.

‘Trump Corruption Coin’

Newsom said that his Trump Corruption Coin is aimed at countering Trump-related digital assets, including the official TRUMP token. He added that the proceeds will be directed toward his Campaign for Democracy, which will fund redistricting efforts and grassroots organizing.

He joked that his original idea was to name the coin “Smelt,” a nod to reports about Trump’s personal fragrance. He added that if he decided to mimic the President further, he might even crowdsource names for a perfume line.

Despite the satirical edge, Newsom framed the project as a serious warning about democratic backsliding, adding to concerns raised by Democrats over Trump’s digital ventures.

The governor also expressed confidence that his meme coin would outperform Trump’s, recalling a previous White House exchange in which Trump bragged about profits from his coin and his wife, Melania’s, venture into the same market.

Gloves-off approach

Newsom said his gloves-off approach emerged after months of attempts to cooperate with Trump’s administration over federal disaster aid. However, he shifted course when Trump deployed National Guard troops and Marines to Los Angeles to back aggressive immigration raids.

He said the moment was a turning point for him and recalled directing his staff to abandon restraint and adopt an unrelenting strategy of public confrontation.

The Democratic governor, who is widely seen as a presumptive presidential candidate, said Americans should expect more trolling and social media barbs in the months ahead.

With the presidential race looming, Newsom’s blend of satire and digital campaigning signaled that the battle between Trump and his Democratic challengers is expanding into new political and financial arenas.

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SHIB whale activity surges

Shiba Inu (SHIB) witnesses explosive 40% spike in overnight whale activity.

• Surge in transfer. Aug. 12–13 saw 351.6 billion SHIB moved from large wallets — up 40% from the prior day’s 240.13 billion.

Shiba Inu (SHIB) just experienced one of its busiest nights in weeks, with major holders transferring 40% more tokens than the previous day, as per IntoTheBlock. From Aug. 12 to 13, the amount of SHIB flowing out of large wallets increased from 240.13 billion to 351.6 billion, putting a massive portion of the supply in motion in less than 24 hours. 

Large outflows can indicate two different things: coins being sent to exchanges for sale or coins being sent from exchanges to private storage. Interestingly, SHIB’s price did not sink when the outflows spiked.  

• Price action. Stayed near $0.000014 despite heavy flows.

Instead, it held steady at around $0.000014, leaning more toward the idea that whales are parking tokens in cold wallets rather than selling them on the market. 

Over the same period, SHIB’s chart showed a push toward $0.00001425, a dip to approximately $0.00001360 and then a slow climb back to $0.0000138. There was no big sell-off or panic candles – just a back-and-forth range that suggests buyers were ready to take whatever supply was available. 

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ETH holders in full profit

Ethereum has no single holder in losses at moment amid shift to new ATH. 

• 98.81% in profit. 148.2 million ETH ($704.29B) bought below current price.

In a historic development, Ethereum (ETH), the leading altcoin, is bullish, with all of its holders in profit. In the last 24 hours, activities in the Ethereum ecosystem have been on an upward trajectory in terms of price and volume outlook. 

According to IntoTheBlock data, a total of 148.2 million ETH valued at $704.29 billion are “In the Money.” This reflects 98.81% of Ethereum holders. This implies that these investors bought the asset at a price lower than the current market price. 

• Low sell pressure. Holders likely waiting for a new ATH.

Interestingly, no holder is “Out of the Money.” Meanwhile, only 1.19% of holders are “At the Money.” These holders account for 1.79 million ETH worth $8.52 billion. These investors bought Ethereum at around $4,752. 

The implication of this for the leading altcoin is that there is minimal sell pressure on holders. With all investors in profit, they are likely to hold off selling their asset with anticipation of a new all-time high (ATH). 

• Price target. Market watching for $5K breakout.

The market had been agitated when a major Ethereum ICO whale went for profit in a fresh batch of sales less than 48 hours ago. However, the current development suggests that sell pressure has dropped. 

Surprisingly, despite the bullish outlook of Ethereum, the asset remains about 3% away from flipping its ATH of $4,891.70 set about four years ago. This has sparked concern among some market participants, who were anticipating the ETH price to hit $5,000.

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Coinbase XRP reserves down 57.4% since June

Major US exchange Coinbase slashes XRP holdings by 57.4% as transfers accelerate.

• Reserve decline. XRP holdings spread across 52 cold wallets.

Coinbase’s XRP reserves have been dropping for months, and new on-chain data show the decline has hit 57.4% since early June. The exchange used to hold almost a billion XRP across 52 cold wallets, but now it is down to about half that, with more big transfers this week. 

Right now, 10 wallets still hold about 26.8 million XRP each, and another 42 wallets hold about 16.8 million XRP. One of the latest moves saw 16.69 million XRP – worth about $54.83 million – moved from Coinbase Cold Wallet 155 to Coinbase Cold Wallet 10. It was an internal transfer. 

• Possible destinations. Bitstamp, BitGo, Ripple’s ODL network; or internal reserve reorganization.

The destination of these coins is unclear. Analysts believe the transfers are feeding new subwallets tied to Bitstamp, BitGo and Ripple’s On-Demand Liquidity network. Others think Coinbase is reorganizing reserves to position itself for usage or price changes. 

There is no sign of disorder or panic selling in the way these transfers are being handled. The amounts and timing suggest that there was a lot of planning involved, with an emphasis on where assets are located so they can be accessed efficiently. 

• Usage trend. Coinbase’s influence over large XRP flows may shrink.

Coinbase is not holding as much XRP as it used to, and that is because more and more people are interested in using the token for payments and cross-border transactions.  If this trend keeps up, Coinbase might not have as much control over the big XRP flows, and more of the asset might be moving through other exchanges and custodial channels.

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I bought Bitcoin at the Bitconoma Merica Kiosk ATM in 2022, but I have not done anything more. I was planning to transfer Bitcoin to the cash app BTC Wallet, but as Bitcoin went out of business in 2023, the website and customer service numbers were already there so I hadn’t found a way to access the wallet. The receipt documents I have will display the transaction ID, public wallet address and private key. I entered a public address in a Google search and came up with the amount of BTC and the last date of access in 2022, but it didn’t offer any options to access wallets or options. So I searched for the private key and nothing came up. Can you still access that Bitcoin?

Another day, another Trump new tariff plan. The market was tired and did not respond positively to the news. US President Donald Trump signed an executive order that reimposed “mutual tariffs” of 10% to 41% of imports from 69 countries, and signed a higher mission on certain Canadian goods over drug mitigation concerns. Canada’s tariffs will take effect on August 1st, while others will continue on August 7th. Overall, the market is still going well, with key Altcoins retesting key support levels. It may be interesting to identify what the next cipher that explodes when the dust settles down.

Customs news was just as hit as global risk assets fell. The crypto long positions of over $570 million were liquidated in 24 hours, with Ethereum and Bitcoin taking the biggest hit. Fear of higher inflation and tougher trade flows has encouraged widespread divestitures. Still, veteran investors are looking past the headlines and scanning on-chain data for signs of rebound.

Explore: Top 20 Cryptography to Buy in 2025

The next cipher that explodes? When XRP retests support, whales accumulate ETH

While spot prices were slipping, the whale wallet quietly scooped up more ether. Last week, 12 new large holders added about 790,000 ETH (approximately $2.9 billion) to their balance. Only two of these fresh wallets purchased 68,300 ETH ($252 million) just eight hours ago. This steady accumulation suggests that large players see value by retaining ETH through short-term turbulence.

Whales continue to accumulate $ eth!

Two fresh wallets accumulated an additional 68,297 $ eth($252M) 8 hours ago.

A total of 12 fresh wallets have accumulated 790,449 since July 9th $ eth($292 million). pic.twitter.com/hcnijtn9xz

– lookonchain (@lookonchain) August 1, 2025

At the same time, we are retesting the key support zone, with XRP prices around $2.95. After peaking nearly $3.66, the XRP was pulled back to this horizontal level, which was first tested in March and May. If the buyer defends $2.95, the XRP can return to over $3.20. But the lower break could lower the price to the next floor, close to $2.65.

Between a tariff-driven dump and an aggressive ETH purchase, the trader is split and its assets are set to explode in the next. Bulls refers to whale activity and XRP support bouncing as a fast rebound recipe. Skeptic traders warn that macro uncertainty and continuous liquidation could put pressure on prices.

For now, pay attention to the chain flow and chart level. If ETH buildup continues and XRP is above $2.95, these could be components that stimulate the next cryptography that explodes when the market finds a foothold.

Bankrcoin (BNKR) Crypto Hit 100m Marketcap: How did it happen?

by Fatima

Bankrcoin (BNKR) Crypto has doubled in market capitalization since its first coverage. After completing the Coinbase list, the tokens have skyrocketed above 100%, currently exceeding 10100m.

With Coinbase support and full Baseapp integration, BNKR has gained a 14% market share. According to Cookiedao, it leads coins such as Fartcoin, Rekt, Virtuals, Openledger and Monad. How did this happen?

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July 16, 2025

A CryptoQuant analyst has recently tweeted that Bitcoin has not yet reached its peak range. The ‘Peak Signal,’ which typically appears at major market tops, hasn’t been observed this time, he added.

‘Peak signal’ refers to the metric indicators that say the market is overheated and a corrective phase is approaching.

Analyst AxelAdlerJr said in a thread that Peak Signal appears when “the combined normalized Market to Realized Price Index and 30 day/ 365 day Value Days Destroyed ratio score reaches or exceeds 1.”

The world’s largest crypto rallied past $122,000 on Monday, driven by renewed institutional interest, and favourable policy. However, it retracted and is now trading at $118,231 at press time.

Alexander Zahnd, interim CEO of Zilliqa, calls it a signal that crypto has entered a new phase, where “institutional confidence is driving consistent demand.” He emphasized the quality of the rally this time.

“It’s spot-driven, not built on leverage, and it’s unfolding in a relatively calm market,” he told Cryptonews. “That points to a more mature and resilient structure compared to previous cycles.”

Bitcoin Could Eventually Hit $130K if Momentum Holds

According to Zahnd, Bitcoin’s next bullish key level could be $123,200, with room to push toward $126,500 and eventually $130,000, provided, momentum holds.

However, on the downside, BTC would plunge toward $115,000 or $112,000, which could “still be healthy in the broader trend,” he added.

“At a macro level, concerns about rising debt, persistent inflation, and uncertainty in monetary policy are all reinforcing the idea of Bitcoin as a long-term store of value. That dynamic isn’t going away anytime soon.”

Only Broader Institutional Participation Can Propel BTC to $150K Swiftly

Andrejs Balans, risk manager of EU-based fintech platform YouHodler, said that inflows alone will not help propel Bitcoin to $150,000 swiftly.

A broader shift in institutional sentiment could be a major catalyst to drive BTC prices up, Balans told Cryptonews.

Though institutional exposure has increased through ETFs and custody services, senior banking executives have reiterated their cautious stance, describing crypto as an area of interest but not yet a strategic priority.

“Without a broad shift in institutional sentiment, it is unlikely that inflows alone will propel Bitcoin to $150,000 swiftly.”

Kraken has become the first major global crypto exchange to secure a full Markets in Crypto-Assets (MiCA) license through the Central Bank of Ireland, enabling the company to offer regulated digital asset services across all 30 European Economic Area (EEA) countries.

The license, granted June 26, positions Kraken ahead of the European Union’s year-end MiCA compliance deadline for crypto asset service providers.

The license grants authorization for all seven regulated crypto activities under MiCA, including custody, trading, portfolio management, and payments. It folds Kraken’s existing virtual asset service provider (VASP) registrations in France, Italy, Spain, and the Netherlands under a single regulatory umbrella.

Per Kraken’s announcement, the approval establishes the firm’s legal basis to continue operating across the bloc amid MiCA’s provisions on crypto exchanges.

MiCA, enacted in June 2023, establishes the EU’s first comprehensive regulatory framework for digital assets. It provides a unified set of rules replacing 27 national systems. While its stablecoin provisions took effect June 30, 2024, core exchange and custodial rules became binding at the end of last year. Crypto firms that failed to obtain authorization faced a sunset period through July 2026, depending on local transpositions.

Kraken’s license arrives just days after Coinbase secured its own MiCA license via Luxembourg’s Commission de Surveillance du Secteur Financier. The timing highlights an accelerated push by major U.S. exchanges to lock in regulatory clarity within Europe, even though SEC-driven clarity has emerged at home. The pair’s approvals should yield strategic advantages, including passporting rights, streamlined onboarding, and market access ahead of a competitive backlog.

Kraken’s European business already accounts for roughly 25 percent of its global spot volume. The same update cited over 35 percent of euro-denominated crypto liquidity flowing through Kraken, metrics that likely informed the firm’s regulatory roadmap.

In 2024, Kraken denied phasing out five stablecoins, including Tether’s USDT, from EEA users to preemptively align Kraken’s offerings with MiCA’s stablecoin rules, which prohibit unauthorized issuers and limit exposure thresholds. However, by February 2025, this had changed, and non-MiCA-compliant stablecoins were delisted and converted in March.

In parallel, Kraken also acquired a Cyprus-based entity to secure a Markets in Financial Instruments Directive (MiFID) license, giving the firm permission to offer regulated crypto derivatives in the EU. That license, announced February 3, enables Kraken to provide futures and margin products under investment firm rules, placing it among a small cohort of exchanges targeting both spot and derivatives markets under compliant frameworks.

While Kraken’s MiCA license formally unlocks passporting rights, those rights are activated only once the Central Bank of Ireland uploads the authorization to the European Securities and Markets Authority’s (ESMA) central CASP register. The timing of that upload could vary. Meanwhile, some national regulators may impose additional anti-money laundering checks, which could introduce local onboarding frictions even under the harmonized regime.

Regulatory clarity around crypto activities is gaining traction as MiCA’s sunsetting period comes to a close. ESMA has called on crypto firms to delist non-compliant tokens and prepare for robust technical standards expected to evolve through 2025. For exchanges like Kraken and Coinbase, securing a MiCA license early may limit future disruptions, ease institutional onboarding, and offer stable legal ground for expansion.

The firm’s co-CEO Arjun Sethi said the license “affirms Kraken’s commitment to building for the long term,” adding that it “places us in a strong position to expand our product offering.”

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Billionaire Jeffrey Gundlach is warning that the US dollar is very close to triggering a collapse amid its sustained weakness this year.

In a new video update, the DoubleLine Capital CEO says he’s keeping a close watch on the US dollar index (DXY), which tracks the performance of the USD against a basket of foreign currencies.

Gundlach points out that the DXY has been in a macro downtrend, and he expects the US dollar index to melt down if it loses a diagonal trendline that has held as support since 2011.

“The dollar has been in a pattern of lower highs going back to 1985 and lower lows, with the exception of 2020, perhaps. But I think the dollar is going to continue to go down. 

I know I am not alone in this view… If it breaks down, if you can mentally draw a trendline between that low in 2011 (DXY at 72) and the low back in 2021 (DXY at 89), if we break down below that trendline, I think it’s truly a dollar bear market. 

Should that happen, I would expect it to take out the low on this chart, so down below the level of around 72 or whatever. Now this is surreal.”  

Based on Gundlach’s diagonal trendline, the DXY needs to stay above 97 to avoid a 25% crash toward 72. At time of writing, the DXY is hovering at 98.24.

Last week, the billionaire Bond King said that the stock market, the dollar and the Treasury market are not behaving as usual, hinting at deeper concerns that are unsettling investors in US assets. According to Gundlach, foreign investors holding trillions in US assets may begin pulling out of American markets as concerns mount over the government’s unsustainable fiscal path.

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The XRP price is currently dipping into a crucial $2 liquidation zone amid rising short pressure. As long positions get liquidated and shorts pile in, a subsequent surge in open interest hints at a looming short squeeze. A clean sweep of $2 has analysts believing that it may be the trigger XRP needs to ignite a fresh price rally. 

XRP Price Eyes $2 Sweep To Fuel Next Rally

A new technical analysis by Cryptoinsightuk on X (former Twitter) reveals that XRP has recently retraced into a key liquidity zone near the $2 mark. This move has raised speculation about a possible bullish reversal that could set the stage for a major price rally. 

According to the analyst’s 1-hour XRP chart, the altcoin’s drop into this liquidity zone was not random—it aligned perfectly with a dense liquidity cluster near the $2 level, as shown on the heatmap data. This zone acted as a magnet for price action, where a significant number of buy and sell orders were concentrated, suggesting that market participants have been targeting this area for some time.

As XRP entered this key liquidity zone, Cryptoinsightuk revealed that a large number of long positions were liquidated. This spike, displayed primarily on the liquidation indicator at the bottom of the chart, confirms that many traders were caught in overly aggressive long positions and forced out of the market as prices dropped. This led to severe sell pressure, allowing XRP to reach the targeted liquidity range more swiftly.

Simultaneously, XRP’s Open Interest (OI) metric began to rise. Rather than showing a decline, which would indicate traders exiting the market, Open Interest moved upward, suggesting that new positions were being opened despite the downturn. 

Typically, an increase in OI during a dip into a high-liquidity zone is seen as a warning sign for short sellers. If the price reverses from here, those short positions could be forced to close rapidly, triggering a short squeeze. Such a move could lead to a fast and aggressive price rally as shorts are liquidated and buy pressure intensifies. 

Overall, the $2 price point has become more than just a psychological barrier but a convergence of liquidation events, rising open interest, and concentrated liquidity. A clean sweep below this level could complete the liquidity hunt, shake out remaining weak hands, and potentially set the stage for a bullish reversal in the XRP price. 

Next Stop For XRP: Explosive Rise To $46?

While some analysts take a conservative stance on XRP’s near-term price, market experts like Egrag Crypto stand out with a bold forecast of a $46 all-time high by 29 September 2025. The analyst predicts that XRP’s bullish run could begin in July, projecting three ambitious short-term price targets before the end of the year. 

Once it breaks bearish barriers, XRP is expected to rally to an initial target of $12, marking a 500% increase from its price of $2.18 at the time of the analysis. Following this, Egrag Crypto predicts an average target of $24 for XRP before a potentially explosive rise to the $46 peak, which represents a whopping 2,500% surge from current levels. 

Featured image from Unsplash, chart from TradingView

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