Bitcoin Surpasses Amazon as Fifth-Largest Global Asset

Bitcoin became the world’s fifth-largest asset on Monday, hitting a record-high market capitalization of $2.4 trillion as its price surged to $122,600. The milestone saw Bitcoin overtake global giants Amazon, Silver, and Alphabet, trailing only Gold, NVIDIA, Microsoft, and Apple.

The rally was fueled by strong institutional inflows, mainly from spot Bitcoin ETFs, which have drawn over $16 billion recently. "This rally isn’t just momentum, it’s infrastructure-driven," said Vincent Liu, CIO at Kronos Research, citing excellent macro liquidity and positive legislative momentum from Washington.

Boosting Bitcoin’s rise, US lawmakers are holding "Crypto Week," reviewing bills like the CLARITY Act and GENIUS Act, which could reshape crypto regulations. Expected legislative progress, along with hopes for a Federal Reserve rate cut, supports predictions Bitcoin may reach $150,000 by year-end.

Institutional adoption continues to deepen, with over 265 companies now holding Bitcoin treasuries, double the number from just weeks ago. Corporate treasuries and spot ETFs now collectively control 10.6% of the total BTC supply, underscoring Bitcoin’s rapid integration into traditional financial infrastructure.

US Regulators Issue Crypto Custody Rules for Banks

US federal agencies, including the Federal Reserve, FDIC, and OCC, issued joint guidance on July 14 outlining crypto custody rules for banks. Institutions must evaluate cybersecurity risks, manage cryptographic keys securely, and comply strictly with fiduciary laws before offering crypto safekeeping. Banks must also establish adaptable governance frameworks due to crypto market volatility and technology standards.

The regulators clarified existing rules without creating new compliance obligations, shifting responsibility to banks' internal risk management assessments. Banks are also required to follow anti-money laundering and sanctions protocols, verifying customer identities to minimize compliance risks. The announcement follows recent federal efforts to standardize banking sector engagement with digital asset services.

Binance Launches New Token Generator Platform

Binance announced a new token generation model, developed with launchpad FourMeme, employing bonding-curve pricing similar to PumpFun. This approach automatically raises token prices during the event based on current demand, with the first supported token launching on July 15 via Binance Wallet’s X account. Participants must hold BNB tokens and Binance Alpha Points, with tokens remaining locked during events.

Binance’s mechanism lets users trade tokens at variable market prices before full launch, differing from traditional fixed-price offerings. The model is meant to deliver transparent price discovery and greater fairness for early participants competing to buy newly created tokens. The product comes amid heightened competition among meme coin trading platforms adopting similar dynamic pricing methods.

Hungary Imposes Harsh Penalties for Unlicensed Crypto Trading

Hungary began enforcing strict crypto regulations, criminalizing trading on unlicensed platforms and unauthorized transactions above 50 million forints ($146,000). Violators face up to 5 years imprisonment, while illegal exchange operators risk penalties of up to 8 years. The law requires exchanges operating in Hungary to secure licenses from the central bank, though licensing details are unpublished.

Major exchanges, including Revolut and Bitstamp, have suspended operations in Hungary due to uncertainty and potential legal consequences. Critics argue the harsh penalties exceed European MiCA regulations, designed to discourage rather than regulate crypto trading. Authorities have not provided timelines or specifics on licensing procedures, creating uncertainty for Hungarian crypto users and firms.

Data of the Day

El Salvador’s Bitcoin holdings surpassed $760 million on July 14 as BTC broke above $122,000, validating President Nayib Bukele’s crypto adoption strategy. The nation now holds over 6,200 BTC, nearly tripling its initial investment at approximately $42,000 per coin. Bukele’s government adopted Bitcoin as a legal tender in 2021 despite skepticism from global financial institutions and ongoing international scrutiny.

Despite continued IMF warnings and US legislative criticism, Bukele remains committed to Bitcoin accumulation, advocating its benefits publicly. Financial analysts suggest El Salvador's gains could encourage other countries to consider holding Bitcoin as a sovereign reserve asset. Market analysts predict Bitcoin prices could soon rise toward $125,000, further boosting the value of the country's holdings.

More Breaking News

• Vanguard now holds 8% of Strategy shares (despite previously bashing Bitcoin), making it the firm's largest shareholder through indirect fund ownership.
• OKX has joined Paxos’ Global Dollar Network to offer 60 million users access to regulated USDG stablecoin trading and transfers.
• Kazakhstan’s central bank is exploring investing part of the country’s national reserves into crypto, including Bitcoin and other digital assets.
• Grayscale filed preliminary IPO paperwork with the SEC, joining a wave of crypto firms pursuing public listings during the current market revival.
• Kamino integrated tokenized stocks as collateral using xStocks, launching with AAPLx and intending to expand DeFi access to traditional equity assets.
• Roman Storm urgently appealed for $500,000 to fund his defense as his Tornado Cash money laundering trial begins next week.
• Bitcoin’s inventor Satoshi Nakamoto is now worth $131 billion, ranking as the world’s 11th richest person based on BTC holdings.
• Jack Dorsey’s new app “Sun Day” estimates sun exposure and vitamin D levels using AI and GPS to encourage healthy outdoor habits.

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