TLDR CRYPTO 2025-07-10

BITCOIN TOPS $111K, ETH LEADING RALLY

Bitcoin surged to $111,400 on Wednesday, breaking above the $110,000 resistance level that had capped gains for weeks and approaching its May 22 record of $112,000, with some exchanges showing new all-time highs while major aggregators indicate BTC remained just below its peak. The move triggered $425 million in liquidated short positions and lifted the broader crypto market, with Ethereum jumping 6% to $2,760 and crypto equities like MicroStrategy and Coinbase gaining 4-6%. Analysts noted that declining volatility historically precedes major upward moves. Institutional interest in ETH continues to grow due to its role in tokenization and settlement infrastructure.

RIPPLE TAPS BNY MELLON TO CUSTODY RLUSD RESERVES

Ripple has appointed BNY Mellon as the primary custodian for RLUSD reserves, reinforcing its push to scale institutional stablecoin adoption. RLUSD, issued under a NYDFS Trust Charter, is designed for enterprise use in cross-border payments and is backed 1:1 with high-quality liquid assets. BNY will also provide Ripple with transaction banking services, signaling deepening ties between traditional finance and regulated digital asset infrastructure.

PUMP.FUN ANNOUNCES TOKEN SALE

Pump.fun is launching its native token, $PUMP, through an ICO on July 12 at $0.004 per token, with ambitious plans to "kill Facebook, TikTok, and Twitch" by creating a social streaming platform. The ICO will sell 33% of the 1 trillion token supply, with all tokens fully unlocked on day one. Remaining tokens will be allocated to the community (24%), the team (20%), investors (13%), and other initiatives. The public sale requires KYC through partner exchanges and excludes US/UK residents. Tokens will become transferable 48-72 hours after the sale ends. There will be an airdrop some time after the initial sale.

PRIVY TO POWER MULTICHAIN AI AGENTS

Blueprint is partnering with Privy to launch AI agents that manage assets across EVM, Solana, and Sui chains. This will help automate onchain activity through session signers and delegated transactions. Users can onboard with just an email, with Privy handling seamless identity and transaction flow behind the scenes.

THE STATE OF CRYPTO VC

Crypto VC faces a challenging environment with lower returns to LPs resulting in tougher fundraising conditions, though 2025 capital deployment remains on pace with 2024 despite slower deal counts, and improving M&A activity (NinjaTrader, Privy, and Bridge acquisitions) signals better exit opportunities. Three major shifts are emerging: tokens replacing dual token/equity structures as the primary investment mechanism, fintech VCs converging with crypto VCs as payment rails move onchain, and the rise of "liquid venture" where funds invest in public tokens with VC-like return profiles. Despite challenges, crypto remains at the frontier of venture innovation with its blend of public/private markets and hyper-power law outcomes, positioning it to continue attracting capital seeking asymmetric returns as more assets move onchain.

THE SUNK COST CAGE

“Sunk Cost Cage” refers to the modern sunk cost fallacy in crypto, where past investments keep individuals trapped in diminishing pursuits. Recent institutional moves, like $49 billion into BTC ETFs, $4.3 billion into ETH ETFs, and Robinhood's EVM chain on Arbitrum with perpetual swaps, illustrate crypto's evolution into mainstream finance. Participants split into four camps based on belief in BTC and broader crypto, making honest self-assessment vital for deciding whether to specialize or plan an exit. Escaping the cage demands admitting past efforts may no longer justify continued commitment and embracing broader opportunities.

THE DEFI MULLET: HOW ETHEREUM WILL POWER FINTECH AT SCALE

The “DeFi Mullet” (fintech apps in front, Ethereum DeFi infrastructure in back) offers users the sleek UI they're used to with the benefits of permissionless finance. Ethereum enables faster integrations, real-time transparency, and immutable infrastructure for fintechs building financial products without legacy constraints. Coinbase's crypto-backed loans via Morpho are the first large-scale proof point, with $860M in collateral and 9,100 borrowers. As open finance stacks mature, the next wave of consumer-facing apps will be powered by Ethereum under the hood.

CRYPTO VC BARBELL: TRADFI-PROVEN FOUNDERS VS. DEGEN-NATIVE BUILDERS

Crypto VC is polarizing around two extremes: tokenization/stablecoin startups led by ex-Stripe, PayPal, and Meta founders fluent in fintech scale and regulation, and high-velocity, onchain-native degen apps like prediction markets and tap trading. The former appeals to TradFi VCs but requires deep payment infrastructure insight, while the latter thrives on cultural intuition and can generate sustainable revenue without token dependence.

BONK FLIPS PUMP.FUN, NOW DOMINATES MEME MARKET SHARE

Bonk has increased to 78.5% market share, cutting Pump.fun's dominance from 90% to just 21.3% in under 8 days.

DAN ROBINSON TESTIFIES ON THE CASE FOR DEFI

In a U.S. congressional testimony, Paradigm's Dan Robinson argued that crypto offers a superior financial system because it combines globally efficient markets with peer-to-peer competitiveness.

15 LESSONS FOR BUILDING A PERSONAL BRAND IN WEB3

TRADING CARDS GO ONCHAIN: RWA PLATFORMS BATTLE FOR DOMINANCE

Trading-card RWA platforms like Courtyard, RIP.FUN, Dripshop, Phygitals, and Collector Crypt are turning collectibles into liquid onchain assets using gacha mechanics, livestreamed rips, and tokenized cards.