Bitcoin Soars, Coinbase Buys Deribit, Ripple Settles
Key Takeaways
- Bitcoin (BTC) reaches USD 104,000 – a 33% increase over the past month.
- Ethereum (ETH), Solana (SOL), Ripple (XRP), and other altcoins show strong price gains.
- Coinbase acquires Deribit for USD 2.9 billion – focus on institutional investors.
- Ripple and U.S. Securities and Exchange Commission (SEC) reach preliminary settlement in long-standing legal dispute.
- Rumble announces its own Bitcoin and stablecoin wallet – partnership with Tether.
- GENIUS Act for stablecoin regulation fails in the U.S. Senate.
Bitcoin Breaks Through USD 100,000 – Altcoins Follow Suit
Bitcoin has once again made a strong move: with a price surge to USD 104,000, the cryptocurrency posted a daily gain of 3.4% and is up approximately 33% month-over-month. Other digital currencies are also benefiting from the rally. Ethereum rose by 20% within 24 hours. Solana and Ripple followed with gains of over 8% each. Dogecoin and Cardano saw increases of 12% and 9%, respectively.
This broad market rally is fuelling speculation about the start of an “Altcoin Season” – a phase in which alternative cryptocurrencies outperform Bitcoin.
Coinbase Acquires Deribit – Expanding Institutional Offerings
Coinbase, one of the world’s largest crypto exchanges, has announced the acquisition of Deribit – a leading platform for crypto options. Purchase price: USD 2.9 billion. With this move, Coinbase aims to expand its offerings for institutional investors while also responding to increased demand from experienced retail traders.
Rumble Enters the Crypto Market with Its Own Wallet
Video platform Rumble is also entering the crypto market. CEO Chris Pavlovski announced the launch of a proprietary Bitcoin and stablecoin wallet for Q3 2025. The wallet is being developed in cooperation with Tether. The goal is to offer a non-custodial solution tailored specifically for content creators. This positions Rumble as a direct competitor to the Coinbase Wallet.
Ripple and SEC Reach Preliminary Settlement
In the long-standing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), a preliminary settlement has been reached. It still requires court approval. If confirmed, this would mark a significant milestone. However, there is internal opposition within the SEC: Commissioner Caroline Crenshaw sharply criticized the settlement, viewing it as a weakening of the agency’s enforcement authority.
GENIUS Act Fails in U.S. Senate
Not all developments in the crypto sector are positive. The so-called GENIUS Act, a bill aimed at regulating stablecoins, failed to gain majority support in the U.S. Senate. Political tensions – particularly between Democrats and Republicans – led to the bill’s failure. Democratic senators demanded amendments related to corruption allegations against former President Trump but ultimately voted against it. Republicans accuse them of politicizing the issue.
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Our Assessment
The current market dynamics show that cryptocurrencies are experiencing a phase of recovery and growth. The price increase in Bitcoin and altcoins, strategic acquisitions like Coinbase’s purchase of Deribit, and regulatory progress as seen in the Ripple case all point to a maturing market. At the same time, political uncertainty remains a risk factor – as demonstrated by the failure of the GENIUS Act.
For you as an investor or someone interested in the crypto space, this means that opportunities and risks are closely intertwined. Keep a close eye on regulatory developments and stay informed about new market trends. Especially during periods of high volatility, solid knowledge is crucial.
Sources
- Wu Blockchain
- John E Deaton
- Eleanor Terrett
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