Market report for traders
🔮 BTC, ETH, and Altcoins
Over the last 7 days, Bitcoin ends at AU$183,000 moving +4.63% at the time of writing. Meanwhile, Ethereum ends at AU$7,039 moving +27.09% week-on-week. On the Altcoin side, Solana +17.65%, Dogecoin +17.12%, and XRP +9.37% change.
🗞 What’s happening in the news?
🚀 Ripple’s AU$307 Million Stablecoin Play
Ripple has agreed to acquire Toronto-based Rail for AU$307 million (US$200 million), gaining access to over 12 banking partners and compliance-ready virtual accounts. The acquisition will enhance Ripple’s RLUSD stablecoin and broaden the use of XRP in global payment flows. Ripple President Monica Long said, “This acquisition underscores our commitment to helping our global customer base move money wherever and whenever they need.” This follows Ripple’s purchase of prime brokerage Hidden Road earlier in the year, for approximately AU$1.92 billion (US$1.25 billion) and aligns with recent legislation supporting stablecoin integration into mainstream finance.
🏮 China Tightens Grip on Stablecoin Research
According to Bloomberg, Chinese regulators have instructed brokers and other firms to stop publishing research or holding seminars on stablecoins. Authorities are concerned about the potential for fraud and speculative surges, with Christopher Wong, a currency strategist at Oversea-Chinese Banking Corp. in Singapore, noting the risk of a “herd mentality” among retail investors. The move follows a series of regulatory steps aimed at tightening control over digital assets, including rules requiring banks to monitor and flag risky trades involving crypto assets. While the mainland maintains strict oversight, Hong Kong is emerging as a regulated hub for stablecoin innovation. The Hong Kong Monetary Authority recently introduced a stablecoin issuance framework, with a six-month transition period for compliance.
🛰️ Blue Origin Accepts Crypto for Space Flights
Blue Origin has partnered with Shift4 Payments to accept BTC, ETH, SOL, USDT, and USDC for New Shepard space tourism tickets, with payments supported directly from popular digital wallets. The company has flown more than 75 passengers past the Kármán Line, the internationally recognised boundary between Earth’s atmosphere and outer space, located 100 kilometres above sea level. Notable passengers include Tron founder Justin Sun, who paid AU$43 million (US$28 million) for a seat in 2021. Blockchain has already made its mark in space through NFT launches, satellite-based decentralised networks, and infrastructure projects aimed at extending blockchain applications beyond Earth.
📖 What we’ve been reading
Chainlink Teams Up With NYSE-Parent ICE to Bring Forex, Precious Metals Data On-Chain
The collaboration adds ICE’s market data to Chainlink Data Streams, aiming to support tokenized asset markets. Read more ➔
SEC's Long-Running Case Against Ripple Officially Over
The U.S. Securities and Exchange Commission first sued Ripple in 2020, during Donald Trump's first term. Read more ➔
Trump to sign executive order punishing financial institutions for ‘debanking’: Report
Trump’s executive order comes as a group of bank associations tries to block bank applications from four digital asset firms. Read more ➔
*Disclaimer: The information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions.*
