Bitcoin (BTC) price reclaimed $118K this week as analysts hinted at more gains ahead, while Ether broke past $4,000 for the first time since December 2024, eating into BTC’s market dominance.
Vitalik Buterin is back among crypto billionaires with over $1B in ETH holdings, and Harvard’s $53B endowment revealed a $116M stake in BlackRock’s Bitcoin ETF.
From institutional bets to milestone price moves, here’s your roundup of the week’s biggest stories shaping the crypto market.
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TOP CRYPTO NEWS RECAP (August 3 - August 9, 2025)
- Trump to Target ‘Debanking’ with New Executive Order Amid Crypto Banking Tensions
- Fundstrat’s Tom Lee Sees Bitcoin Hitting $250K in 2025, $1M “Over Time”
- Ether Eyes $20K as Traders Predict New All-Time High Within Weeks
- SEC and Ripple End XRP Lawsuit After Dropping Appeals
- SBI Plans Japan’s First Bitcoin-XRP Dual ETF Amid Regulatory Shift
- CZ Seeks Dismissal of FTX’s $1.8B Lawsuit Over Share Buyback
Trump to Target ‘Debanking’ with New Executive Order Amid Crypto Banking Tensions
President Donald Trump will sign an executive order directing regulators to fine banks engaged in “debanking” and remove “reputational risk” guidance critics say unfairly targeted crypto firms. Institutions under the Small Business Administration must reinstate clients who were unlawfully denied. The move comes as major U.S. banking groups urge regulators to block banking license applications from four crypto firms, including Ripple and Fidelity, amid growing competition between traditional finance and digital asset companies.
Fundstrat’s Tom Lee Sees Bitcoin Hitting $250K in 2025, $1M “Over Time”
Fundstrat’s Tom Lee remains bullish on Bitcoin, predicting it could reach $200K–$250K in 2025 and eventually $1 million, citing strong institutional interest. His view contrasts with more cautious forecasts from Bernstein, Standard Chartered, and others. Bitcoin recently hit $123,100 before retreating to $113,000, with market sentiment slipping to neutral. Lee says skepticism is healthy, leaving room for positive surprises in price discovery.
Ether Eyes $20K as Traders Predict New All-Time High Within Weeks
Ether (ETH) surged past $4,100, hitting $4,249 on Bitstamp, with traders predicting a run to $20,000 based on a long-term rising price channel. Popular analyst Merlijn sees momentum building for a breakout, potentially surpassing past highs. Against Bitcoin, ETH still needs 150% gains to match 2021 peaks. Trader BitBull forecasts a new USD all-time high in one to two weeks if ETH secures a strong weekly close above $4,100.
SEC and Ripple End XRP Lawsuit After Dropping Appeals
The SEC and Ripple Labs have agreed to end their yearslong legal battle by jointly dismissing their appeals in the XRP securities case. This leaves Judge Analisa Torres’ 2023 ruling final, which deemed XRP sales on public exchanges non-securities but institutional sales as unregistered securities. Ripple will pay a $125 million fine. The settlement has fueled XRP’s recent rally, with prices surging nearly 99% since April.
SBI Plans Japan’s First Bitcoin-XRP Dual ETF Amid Regulatory Shift
SBI Holdings has announced plans to launch Japan’s first Bitcoin-XRP dual exchange-traded fund, alongside a gold-crypto ETF allocating 51% to gold and 49% to crypto assets like Bitcoin. Both products await regulatory approval and would be publicly listed, with the dual ETF planned for the Tokyo Stock Exchange. The move follows Japan’s Financial Services Agency proposal to reclassify certain crypto assets as financial products, potentially paving the way for crypto ETFs.
CZ Seeks Dismissal of FTX’s $1.8B Lawsuit Over Share Buyback
Former Binance CEO Changpeng Zhao has asked a Delaware court to dismiss FTX’s $1.8 billion lawsuit, calling it an attempt to “nonsensically blame” him for Sam Bankman-Fried’s fraud. Zhao argues the 2021 share buyback deal occurred entirely outside the U.S., involved no funds he controlled, and used crypto assets like BUSD and FTT. He also denies his X posts triggered FTX’s collapse, likening the claim to blaming a whistleblower for exposing a Ponzi scheme.
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