At present in crypto, US President Donald Trump has signed the GENIUS Act into legislation, enacting the nation’s first stablecoin laws. In the meantime, a $9.6 billion Bitcoin switch from a Satoshi-era whale is elevating fears of a possible worth correction as the overall crypto market cap edges nearer to $4 trillion.
Crypto execs heart stage as Trump indicators stablecoin invoice into legislation
US President Donald Trump signed one of many first payments associated to crypto and blockchain of his administration into legislation on Friday after delays resulting from debates within the Home of Representatives and Senate.
In a Friday signing ceremony attended by many cryptocurrency firm executives and high-ranking Republicans, together with Vice President JD Vance and Home Speaker Mike Johnson, Trump signed the Guiding and Establishing Nationwide Innovation for US Stablecoins (GENIUS) Act into legislation.
The president acknowledged the assist of a number of crypto figures in attendance, together with Kraken co-CEO David Ripley, Gemini co-founders Cameron and Tyler Winklevoss, Coinbase CEO Brian Armstrong, Circle CEO Jeremy Allaire, Tether CEO Paolo Ardoino and Robinhood CEO Vladimir Tenev.
“Your complete crypto group, for years, you had been mocked and dismissed and counted out, you had been counted out as little as a yr and a half in the past, however this signing is an enormous validation […] of your arduous work and your pioneering spirit,” stated Trump, studying ready remarks.
Bitcoin whale’s $9.6B switch, GENIUS Act spark correction considerations
A Satoshi-era whale woke up after 14 years of dormancy and moved $9.6 billion price of Bitcoin (BTC), which he obtained in April and Might of 2011. The large switch and the stablecoin audit necessities imposed by the GENIUS Act are sparking correction considerations amongst some trade watchers.
The whale might have opted to promote resulting from considerations associated to the Guiding and Establishing Nationwide Innovation for US Stablecoins, or GENIUS Act, because the “US authorities strikes to implement audit necessities on stablecoins,” in accordance with Jacob King, monetary analyst and the CEO of WhaleWire.
“That alone will burst the most important bubble and fraud in monetary historical past: Bitcoin. It’s solely propped up by pretend cash printed out of skinny air,” he wrote in a Friday X publish.
Crypto market cap closes in on $4 trillion
The full worth of the crypto market hit an all-time excessive on Thursday, as a worth surge from main cryptocurrencies drove the market’s complete price close to $4 trillion.
The precise determine is tough to pin down resulting from variations in how platforms observe the crypto market, however crypto knowledge suppliers CoinMarketCap and TradingView present the crypto market peaking between $3.8 trillion and $3.9 trillion, respectively, whereas CoinGecko reported that the market crossed the $4 trillion milestone.
JUST IN: The full crypto market cap has hit a brand new ATH of $4T. pic.twitter.com/gE8hRFegwz
— CoinGecko (@coingecko) July 18, 2025
Whatever the actual determine, the crypto market’s worth is now simply behind laptop chip maker Nvidia, probably the most helpful publicly-listed firm on this planet which was the first-ever to hit a market cap of $4 trillion on July 9, which has since grown to $4.2 trillion.
Bitcoin (BTC), Ether (ETH) and XRP (XRP) — presently the highest three cryptocurrencies by market cap — drove the market worth surge. Bitcoin is once more above $120,000 whereas ETH rose 8% to round $3,600 for the primary time since early January.
XRP, in the meantime, jumped nearly 20% to a 2025 excessive of $3.64 in early buying and selling on Friday. XRP has shut ties to Ripple Labs, which merchants assume may benefit from a sweeping stablecoin invoice the US Home handed on Thursday.
