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Bitcoin cracked a fresh all-time high on Monday, changing hands at $123,000 at one point before a slight drawdown. The jump crowns a choppy weekend that flushed out short-term excess and leaves the world’s largest cryptocurrency up 30% so far this year.

Bank of England Governor Andrew Bailey has told the world’s largest lenders to shelve plans for their own stablecoins and instead issue tokenized versions of pounds held on deposit. 

Pump.fun needed only 12 minutes on Saturday to raise about $500 million from retail investors across Bybit, Kraken, KuCoin and other exchanges. 

Top stories in the Crypto Roundup today:

  • Coinbase Team Up With Perplexity AI on Real-Time Crypto Data
  • BoE Chief Bailey Tells Banks to Skip Own Stablecoins
  • Pump.fun Pulls In $500M in 12-Minute Token Sale

 
24 hours chart of the price of BTC
 

Bitcoin Tops $120K for First Time as Tariff Shock and Looming CPI Data Test Market

 

Bitcoin cracked a fresh all-time high on Monday, changing hands at $123,000 at one point before a slight drawdown. The jump crowns a choppy weekend that flushed out short-term excess and leaves the world’s largest cryptocurrency up 30% so far this year.

Late Friday, President Donald Trump said the U.S. will slap a 30% tariff on goods from the European Union and Mexico starting Aug. 1, reviving trade-war memories. 

Attention now turns to Thursday’s June consumer-price index. Economists polled by FactSet expect a 0.25% monthly rise, or 2.6% annualized. A hotter print could stall the Federal Reserve’s first rate cut, a headwind for risk assets including crypto. 

 
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BoE Chief Bailey Tells Banks to Skip Own Stablecoins

 

Bank of England Governor Andrew Bailey has told the world’s largest lenders to shelve plans for their own stablecoins and instead issue tokenized versions of pounds held on deposit. 

Speaking with The Times ahead of last week’s financial-stability briefing, Bailey said coins that try to hold a fixed price would lift money out of the banking system and shrink the pool that backs everyday loans.

Bailey, who also chairs the global Financial Stability Board, warned that rapid shifts into private coins could set off forced sales of assets used to back them.

 
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Pump.fun Pulls In $500M in 12-Minute Token Sale

 

Pump.fun needed only 12 minutes on Saturday to raise about $500 million from retail investors across Bybit, Kraken, KuCoin and other exchanges. 

The Solana-based platform, which lets anyone mint and list a new coin with a few clicks, priced 125 billion PUMP tokens at $0.004, conferring a fully diluted value of $4 billion on the project.

Pump.fun said the tokens will appear in wallets within three days and will stay frozen until the airdrop ends, blocking trades and transfers.

Saturday’s offering sold 12.5 % of PUMP’s one-trillion supply. Another 18 % went to private investors earlier this year. The rest is split among the team (20 %), community incentives (24 %), strategic investors (13 %) and smaller pools for liquidity and a foundation fund.

 
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State of the Crypto by Top Tier Exchange Volume

Toplist 20 coins by top tier volume

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