AltSignals Blog

Crypto markets see modest gains following President Trump’s executive order allowing cryptocurrencies in 401(k) retirement plans. SEC drops Ripple Labs’ appeal, propelling Ethereum, Bitcoin, Solana, and XRP. News of Fundamental Global’s $5b registration to SEC and Ripple’s Rail platform acquisition for $200m also drive the market. The article discusses details of market movements.

Bitcoin reaches near record high, boosting shares of crypto-related firms such as Strategy and Coinbase Global. This surge follows President Trump’s executive order allowing workers to invest in cryptocurrency through their 401(k) plans.

Wall Street kicks off on a high note as stocks continue to rise, with S&P 500 and Nasdaq breaking records. Market optimism is fueled by hopeful plans of the Federal Reserve to slash interest rates in September. Cryptocurrency also mirrors this bullish trend as prominent altcoins, led by Ethereum, rally. This upbeat market state is driven by certain regulatory news and the growing popularity of crypto treasury companies.

HLP0, a platform providing tokenized representation of Hyperliquids HLP vault, faces backlash as user funds are redirected from the multi-sig and bridged to Avalanche and Arbitrum DeFi protocols, instead of contributing to the HLP vault. The total-value locked (TVL) of HLP0 is around $40 million and a major portion of that has been relocated to Avalanche. The creators aim to integrate the HLP0 token with Hyperliquids’ CoreWriter to make it decentralized and secure.

Tornado Cash co-founder Roman Storm’s guilty verdict poses potential legal risks for crypto developers, particularly in privacy-centered projects. This raises questions about developer liability and could significantly affect DeFi innovation. The controversial case could set a dangerous precedent, potentially dimming the core idea of creating open, permissionless systems in DeFi. The ongoing legal battle emphasizes the need for comprehensive regulation, safeguarding responsible innovation without stifling it.

BitGo, a US-regulated crypto custodian, is safeguarding assets for the first spot Bitcoin exchange-traded fund (ETF) in Central Asia, launched on Kazakhstan’s Astana International Exchange. Managed by Fonte Capital, the ETF offers indirect Bitcoin investment access to a diverse range of investors. The spotlight on BitGo’s role illustrates the double-edged nature of having such platforms in global spot Bitcoin products.

Ethereum’s price has surged by 10% nearing its all-time high with over $2.3 billion invested in spot Ethereum ETFs in less than a week. Traders speculate ETH could reach $13,000 once price discovery begins. Increased demand, steady capital inflows, and growing daily transaction count suggest bullish signals for ETH, driving interest for further upside.

Ethena shows strong bullish momentum, with key support at $0.67 and potential for advance towards $0.96. This crypto analysis provides technical insights on Ethena’s market structure, volume profile, and upcoming price action based on Fibonacci retracement and yearly high resistance.

Coinbase’s Chief Legal Officer, Paul Grewal, proposes the use of cryptographic privacy tools such as zero-knowledge proofs to modernize the outdated U.S. Bank Secrecy Act. The proposal comes after a massive Coinbase data breach affecting nearly 70,000 customers. The use of zero-knowledge proofs could potentially reduce storing sensitive data risks and offer a more precise and privacy-preserving alternative. However, there are significant legal and practical hurdles to this implementation, including regulatory reform and implementation costs.