KLEA Crypto Daily: Thursday, August 07, 2025

Here’s a look back at the key stories from August 07, 2025.

Blackrock Will File for Spot XRP ETF, Says Expert as Finish Line Approaches

Blackrock, the world’s largest asset manager, is believed to be targeting spot XRP, according to an ETF expert, signaling a major push as crypto demand and momentum accelerate.

Ripple v SEC: Case Officially Over, Appeals Dropped, XRP Eyes Breakout

XRP shatters legal shackles as the SEC case finally closes, unlocking Ripple’s full-scale expansion, regulatory clarity for crypto, and a tidal wave of market momentum.

Bitcoin Reclaims $117,000 As Ethereum, XRP, Dogecoin Rise

Cryptocurrency markets are trading higher, with Bitcoin surpassing $117,000, driven by optimism surrounding President Donald Trump's proposal to include crypto assets in 401(k) retirement plans.

Paxos reaches $48m settlement with NYDFS over Binance, AML failures

Stablecoin issuer Paxos settled with the New York Department of Financial Services for $48 million over alleged failures related to due diligence on Binance, highlighting the importance of robust compliance programs in the crypto industry.

Sheetz Launches 50% Discount for Daily Cryptocurrency Purchases

The retail chain Sheetz is now accepting multiple cryptocurrencies at all its U.S. locations and offering customers 50% off purchases when paying with digital assets during specific daily hours. This move signifies a significant step towards mainstream adoption of cryptocurrencies in everyday transactions.

Galaxy CEO Mike Novogratz Predicts ‘Monster Pool Of Capital’ Into Bitcoin With Trump’s 401(k) Crypto Plan

Galaxy Digital CEO Mike Novogratz believes that President Trump's proposal to allow crypto assets in 401(k) retirement plans could lead to a substantial influx of capital into the market, particularly Bitcoin and Ethereum. This move could potentially open the floodgates for a significant amount of investment in the crypto space.

Tether Adds Regulated EU Beachhead with Bit2Me Stake, Leads 30 Million Euros Raise

Tether secures a regulated EU presence by acquiring a stake in Bit2Me and spearheading a 30 million euros fundraising effort. This move marks a significant step for Tether in expanding its reach and influence within the cryptocurrency space.

Binance 33rd PoR Report Shows 17k Increase in BTC, 9.8% ETH Drop and Stable USDT Reserves

Binance's latest Proof of Reserves report reveals a notable increase in Bitcoin holdings, a drop in Ethereum reserves, and stable USDT reserves. These figures provide insights into user activity and asset management trends on the Binance platform, reflecting ongoing confidence in the ecosystem.

India finds $72 million in hidden crypto income as tax compliance tightens

Indian tax authorities have uncovered nearly $72 million in undisclosed income from crypto-related transactions, highlighting discrepancies in tax filings tied to Virtual Digital Asset (VDA) trades. The government has collected over $80 million in taxes on crypto gains over the past two financial years, with efforts to tackle tax evasion ramping up through issued notices.

Chainlink Launches On-Chain Reserve to Buy Back LINK Tokens

Chainlink has introduced the Chainlink Reserve, an on-chain mechanism designed to systematically acquire and hold LINK tokens to support the network's long-term growth and sustainability.

EU Banking Regulator Finalizes Capital Rules for Banks Holding Bitcoin, Ether

The European Banking Authority has finalized rules requiring banks to assign a 1,250% risk weight to unbacked cryptocurrencies like Bitcoin and Ether.

Trump Executive Order to Allow Crypto, Private Equity in 401(k) Plans

President Donald Trump is set to sign an executive order today directing the Department of Labor to revise existing retirement regulations, allowing Americans to include alternative assets like cryptocurrency, private equity, and real estate in their 401(k) plans.

BOE Cuts Key Rate By 25Bps To 4%

The Bank of England has reduced its key rate by 25 basis points to 4%, deviating slightly from the estimated 4%. This decision could have significant implications for the UK's economy and financial markets.

Bitcoin Eyes Breakout as Technicals Signal Bullish Momentum

Bitcoin is showing signs of resilience and potential bullish momentum as it tests key support levels around $112K–$114K. Analysts suggest that if this support holds, BTC could break out past $117K and target $120K in the near future.

Bitcoin Price Echoing 2024 Pattern: Trader

Bitcoin price analysis suggests similarities to a pattern from 2024, potentially indicating significant gains for BTC if historical trends repeat.

Ethereum Daily Transactions Reach New High

Ethereum daily transactions have surpassed the 2021 peak, driven by stablecoins and ETH treasuries, signaling continued growth in the network.

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Source: KLEA News