Market report for traders
🔮 BTC, ETH, and Altcoins
Over the last 7 days, Bitcoin ends at AU$183,800 moving +1.49% at the time of writing. Meanwhile, Ethereum ends at AU$5,703 moving +19.07% week-on-week. On the Altcoin side, Solana +24.32%, Dogecoin +34.85%, and XRP +20.89% change.
🗞 What’s happening in the news?
🏛️ Crypto Finds a Seat at the White House Table
In a milestone development for digital finance, US President Donald Trump has formally enacted the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The legislation provides long-awaited regulatory clarity for payment stablecoins, classifying them as not securities if they are fully backed and redeemable at a one-to-one ratio with US dollars. The signing ceremony was attended by senior leaders from the digital asset sector, reflecting growing alignment between the industry and federal policy. Addressing those in the crypto community who have long advocated for clearer rules, Trump stated: “You were mocked and dismissed... but this signing is a massive validation of your pioneering spirit.” The GENIUS Act is one of three major digital asset bills gaining momentum, alongside the Digital Asset Market Clarity (CLARITY) Act and the Anti-CBDC Surveillance State Act, both of which are now under Senate consideration.
🏉 Rugby Star Jailed Over AU$1.38M Crypto Investment Fraud
From footy fields to federal court, Shane Moore misled investors across five US states by offering 1% daily returns from a fabricated crypto mining business. Instead of funding mining operations, he used the AU$1.38 million raised to purchase luxury apartments, designer goods, and to repay earlier participants in a typical Ponzi-style arrangement. “Moore used the newness of cryptocurrency to commit an age-old fraud,” said Acting U.S. Attorney Teal Luthy Miller. The court noted significant emotional and psychological harm to victims, many of whom were personally connected to Moore. His sentencing comes as crypto-related fraud hits a new high in 2025, with over AU$3.34 billion lost globally in the first half of the year alone, according to blockchain analysis firm Chainalysis’ 2025 Mid-Year Crypto Crime Report. Experts say the case highlights the ongoing need for caution and due diligence in high-return investment offerings.
🇬🇧 UK Considers Selling £5B in Seized Bitcoin to Plug Budget Hole
With a potential £20 billion budget gap looming, the UK government is reportedly eyeing a substantial sale of seized Bitcoin, a move reminiscent of former Chancellor Gordon Brown's contentious gold divestment. According to The Telegraph, the Home Office is collaborating with police to assess the feasibility of offloading what could amount to £5 billion or more in digital assets. This comes as the current Chancellor of the Exchequer seeks ways to narrow the nation's budget deficit. While the exact amount of Bitcoin held by the government is unconfirmed, The Telegraph highlighted a 2018 raid that recovered 61,000 Bitcoin from a Chinese Ponzi scheme. At the current price of approximately A$185,000 per Bitcoin, this haul alone would be worth over £5 billion.
📖 What we’ve been reading
Institutions Are Driving Ethereum's 'Comeback'
ETH's price has more than doubled in value since April aided by institutions betting on stablecoins and tokenization, corporate treasuries and L2s.
AUSTRAC Targets Crypto in Australia’s Largest Financial Crime Overhaul
AUSTRAC has announced major anti-money laundering reforms, identifying crypto as a leading financial crime threat.
Indian crypto users may ‘force’ policy shift amid mounting demand
Crypto proponent Sujal Jethwani told Cointelegraph that India’s crypto community is growing fast despite heavy tax burdens.
*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.*
