
Crypto Heats Up: Ethereum Soars, Funds Retreat, and Washington Steps In
Crypto Heats Up: Ethereum Soars, Funds Retreat, and Washington Steps In
Hope this week finds you well and making steady moves, whether in the markets or in life.
It’s been a busy stretch in the crypto world, with altcoins stirring, big names making bold plays, and the occasional glitch reminding us to stay alert.
Let’s dive into what’s been happening.

The Big Picture
As of today, the global crypto market cap is holding strong at around $3.44 trillion, up 1.3% in the last 24 hours.
It’s still a touch below recent highs, but the recovery from Q1’s dip is clear, the bulls aren’t just back, they’re holding the line. Momentum’s here, but so is volatility, stay sharp. (Coingecko)
Ethereum Crosses $4,000 for First Time in 8 Months
Ethereum’s price has climbed above $4,000, the highest it’s been since last December. This rise is being driven by more people and big investors buying and using it, showing growing trust in the cryptocurrency again.
Phantom Wallet Snaps Up SolSniper to Power Next-Level Solana Trading
Phantom, once just a wallet provider, is stepping up its game by acquiring SolSniper, a fast, AI-powered trading platform for Solana memecoins.
This move marks Phantom’s shift toward becoming a complete finance hub, with SolSniper continuing to operate independently while fueling upgraded trading and analytics for users.
Yuga Labs Sells Moonbirds to Gaming Startup, Doubles Down on Apes
Yuga Labs has handed off Moonbirds to Orange Cap Games to sharpen focus on Bored Apes and Otherside. The gaming startup plans to bring Moonbirds into the trading card world, both digital and physical
Altcoins are dancing on thin ice, one sharp move and the whole floor could shift.

What's Making Waves?
Banks Closing Accounts Over Beliefs? The White House Steps In
President Trump has signed an order to stop “debanking,” where banks shut accounts over politics, religion, or industry.
Regulators are now barred from using “reputational risk” as an excuse, and banks may have to reopen wrongly closed accounts. A sharp reminder, access to money isn’t guaranteed.
Crypto Funds See First Outflows in 15 Weeks, $223M Exit Amid Fed Caution
Global digital asset funds recorded $223 million in outflows last week, marking the first pullback in 15 weeks. The shift reflects a pause in investor enthusiasm following hawkish signals from the U.S. Federal Reserve.
Notably, Bitcoin led the retreat, with $404 million withdrawn, while Ethereum bucked the trend, attracting $133 million in fresh capital for the 15th consecutive week.
Base Network Hits First Service Glitch, Halt Halts for Nearly 30 Minutes
Coinbase’s Base network, a fast lane for Ethereum transactions, stopped working for about 29 minutes on August 5, 2025. The pause affected key functions like withdrawals, deposits, and sending payments.
Although no money was lost, the glitch raises important questions about reliability as crypto infrastructure continues to scale.
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Disclaimer: The information provided in this newsletter is for educational and informational purposes only and does not constitute financial or investment advice. Always do your own research and consult with a licensed professional before making any financial decisions.