The equities market has remained relatively stable over the past week, as several companies in the S&P 500 and Nasdaq released their Q2 earnings reports. Interestingly, the banking sector mostly outperformed Wall Street’s estimates, with Morgan Stanley and Bank of America posting higher earnings. However, on the other hand, Goldman Sachs a 3-year low in profits. reported Whether valuations will hold up next week when the Fed is expected to raise rates by 0.25% is yet to be seen. Bitcoin Erases XRP Ruling Gains is currently trading just below $30.000, down from its last week's high of $31.6K, which was triggered by a favorable ruling in the Bitcoin SEC vs. Ripple case. But more importantly, the move has sparked both positive and negative reactions from stakeholders across the digital asset industry, including crypto natives, traditional banks, and SEC Chair Gary Gensler. Mixed Opinions About the SEC vs. Ripple Ruling JP Morgan and Bank the win a 'groundbreaking victory' for crypto, and in particular, Coinbase exchange, which stands to benefit hugely from the advancements in regulatory clarity. Barclays termed Meanwhile, as expected, SEC Chair Gary Gensler expressed in the ruling and went on to note that the agency is still "looking at the decision and assessing the opinion." disappointment While the ruling’s positive effect on Bitcoin’s price evidently didn’t have enough momentum to hold above the $31.5K resistance, the 7-day moving average of new BTC addresses hit an all-time high of 500,000 this week. As the debate on Bitcoin’s viability continues amid its sideways price discovery fundamentals are slowly improving. Noteworthy Mentions The Stablecoin Debate: Assessing Value Proposition, Stability, and Regulation have become an integral part of the crypto ecosystem in recent years, as more market participants opt for them in favor of fiat trading pairs. However, their rise has not come without controversy. In our latest article, we take a deep dive into the stablecoin landscape, assessing the opportunity, stability, and regulatory challenges. Here is the link to the full . Stablecoins article Industry Shakers FSB finalizes high-level recommendations for regulating crypto-assets and stablecoins The Financial Stability Board has issued final recommendations for regulating global cryptocurrency activities. The recommendations cover appropriate supervision of crypto asset activities and markets, stressing data collection, issuer governance frameworks, and cross-border regulatory cooperation. Additionally, the board has proposed a set of regulations specifically for global stablecoin arrangements, emphasizing robust recovery and resolution plans from issuers. SEC Accepts Blackrock and Valkyrie BTC proposals for review Within a week, the U.S. Securities and Exchange Commission (SEC) accepted a second spot Bitcoin ETF application for review. Valkyrie's proposal, the Valkyrie Bitcoin Fund, was added to the SEC's docket on Monday, following BlackRock's spot Bitcoin ETF proposal acknowledgment on July 13. Valkyrie resubmitted its Bitcoin ETF proposal on June 21, adopting 'BRRR' as the ETF ticker, referencing a meme that mimics the sound of printing money. Celsius Sells Altcoins Worth Over $24 Million After Court Approval Celsius, the troubled crypto lender, has begun selling more than $24 million worth of altcoins, such as Chainlink (LINK), Synthetix Network (SNX), BNB coin, 1Inch, and 0x Protocol (ZRX), among others. This move follows the approval obtained from the bankruptcy court on June 30, allowing Celsius to convert altcoins into Bitcoin (BTC) and Ethereum (ETH) for distribution to its creditors. Adding to the turmoil, Celsius founder and former CEO, Alex Mashinsky was last Thursday. arrested Also published here.

This story contains new, firsthand information uncovered by the writer.

The writer is smart, but don't just like, take their word for it. #DoYourOwnResearch before making any investment decisions or decisions regarding your health or security. (Do not regard any of this content as professional investment advice, or health advice)

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