Bitcoin Surges 1% to New All-Time High of $119,000 Amid Legislative Uncertainty

Bitcoin reached a new all-time high, surpassing $118,856 on July 11, 2025, and continued to rise, exceeding $119,000 by the end of the week. This surge comes as Congress prepares for a legislative triple-header, which could either boost the rally or introduce volatility. Meanwhile, Pump.fun, a Solana-based meme coin launcher, completed a $600 million token sale in just 12 minutes, with the sale taking place across multiple exchanges. The company also announced its first acquisition, purchasing Kolscan, a wallet tracker.

The TRUMP memecoin, associated with former U.S. President Donald Trump, has moved to the Tron blockchain amid a significant price drop from $74 to $8.59. The token is now aligned with controversial crypto figure Justin Sun, who holds a significant stake and plans to buy more. Concerns over insider control are growing as CIC Digital, a Trump-affiliated entity, holds 80% of the token supply, raising questions about decentralization and potential market manipulation. Blockchain analysis reveals that most top TRUMP holders are based outside the U.S., fueling skepticism around the token’s actual value and intent.

Tether, the stablecoin issuer, announced that it will discontinue support for USDT on five blockchains starting September 1. This decision follows Tether's earlier move in June to stop minting on EOS and Algorand. Additionally, the individual who drained over $40 million from GMX’s V1 contracts has begun returning the stolen funds, with the first indication coming through an on-chain message stating that the funds would be returned later.

Coinbase, the cryptocurrency exchange, has partnered with Perplexity AI, an AI search engine startup, to provide traders with easier access to real-time crypto market information. The partnership aims to enable faster and better-informed trading decisions through integrated exchange data in Perplexity’s AI tools. Meanwhile, Snoop Dogg's latest NFT collection sold out within 30 minutes, garnering praise from Pavel Durov, the founder of Telegram. Emirates Airline, based in Dubai, announced plans to accept cryptocurrency payments through a draft deal with Crypto.com. Bank of New York Mellon will serve as the primary custodian for Ripple Labs’ RLUSD stablecoin, safeguarding the backing funds.

New Zealand has declared a ban on cryptocurrency ATMs as part of its efforts to improve anti-money laundering and counter-terrorist funding policies. The nation joins a group of countries implementing stringent regulations on crypto infrastructure. Metaplanet, a Japan-based company, acquired an additional 2,205 Bitcoin, bringing its total holdings to 15,555 BTC. The company's CEO, Simon Gerovich, indicated that they are considering "phase two" of their Bitcoin treasury strategy. Arkham, an analytics firm, explained that the migration of more than $8 billion worth of Bitcoin from inactive Satoshi-era wallets was driven by wallet security updates. Eight wallets, each containing 10,000 BTC, have been transferred to contemporary bc1q-style addresses since 2011, according to on-chain data.