Pump.fun’s native token, PUMP, jumped 10% over the past 24 hours to trade at $0.00338 as the platform sees a sharp resurgence in activity. Pump.fun (PUMP) is now up 23% in the past week, with a 7-day range between $0.00246…

PUMP gains 10% as Pump.fun flips LetsBonk in 24-hour memecoin launches

GameStop&#8217;s shift towards Bitcoin-like trading suggests a strategic pivot in 
investment focus, potentially influencing retail investor behavior.
The post Billionaire Bill Gross says GameStop now trades more like Bitcoin 
than a meme stock appeared first on Crypto Briefing.

Billionaire Bill Gross says GameStop now trades more like Bitcoin than a meme stock

Japan&#8217;s largest bank, SBI, has unveiled plans to launch the country&#8217;s first 
exchange-traded fund (ETF) that will be linked to both Bitcoin (BTC) and XRP. 
SBI Unveils Japan&#8217;s First Bitcoin And XRP ETF According to circulating 
reports, this investment vehicle aims to trade on the Tokyo Stock Exchange 
(TSE), offering institutional investors a regulated avenue to gain exposure to 
two of the market’s largest cryptocurrencies. In addition, the country’s 
financial giant has introduced a second product, the Digital Gold Crypto ETF, 
which will allocate 51% to gold and 49% to cryptocurrencies. Related Reading: 
Dogecoin Price Crash Could End Soon With A Roadmap For $5 This structure is 
reportedly designed to mitigate investment risks through diversification, 
catering to a growing interest in combining traditional assets with digital 
currencies. This announcement arrives at a pivotal moment as Japan&#8217;s Financial 
Services Agency (FSA) is contemplating regulatory changes that could simplify 
the approval and tax processes for cryptocurrency-related financial products. 
Such developments may further enhance the attractiveness of these offerings to 
investors looking for regulated investment opportunities in the crypto space. 
Meanwhile, across the waters in China, the focus is shifting towards the 
introduction of the country&#8217;s first stablecoin. Hong Kong Emerges As Crypto 
Testing Ground Reports from the Financial Times indicate that Hong Kong has 
emerged as a testing ground for cryptocurrency initiatives, particularly in 
light of the stringent bans imposed on the mainland. Recently, Hong Kong 
passed legislation allowing licensed businesses to issue tokens backed by any 
fiat currency. However, the Hong Kong Monetary Authority (HKMA) has adopted a 
cautious approach, announcing that only a limited number of licenses will be 
granted starting next year. Chinese policymakers are increasingly recognizing 
the significance of stablecoins, particularly in the context of dollar-backed 
tokens that dominate the global economy. Related Reading: Is The Bitcoin Bull 
Run In Jeopardy? Expert Reveals Strategy’s Alleged Plan To Sell All BTC 
Holdings In a speech made in June, Pan Gongsheng, the governor of China’s 
central bank, noted that stablecoins have “fundamentally reshaped the 
traditional payment landscape.” This acknowledgment reflects a growing 
interest in stablecoins from Chinese state-owned enterprises, especially for 
payment and settlement solutions. Several state-owned companies operating in 
Hong Kong are reportedly preparing to apply for stablecoin licenses, although 
only one of China&#8217;s four major state-owned banks is anticipated to receive a 
license from the HKMA in this initial phase. Notably, the HKMA has not ruled 
out the possibility of approving licenses for stablecoins backed by offshore 
renminbi, a potential move that could greatly facilitate cross-border 
payments—an increasingly vital area for China as it seeks to enhance its 
financial influence globally. When writing, Bitcoin trades at $115,245, 
recording a 1% recovery in the 24-hour time frame. When compared to its 
recently achieved all-time high (ATH) of $123,000, the cryptocurrency has 
retraced over 6%. Featured image from DALL-E, chart from TradingView.com

Japanese Financial Giant SBI Moves Forward With Bitcoin-XRP ETF Application

The Bitcoin market is in a “relatively balanced position” despite the recent 
price pullback from all-time highs, Glassnode says.

Bitcoin short-term holders ‘cooled off’ profit-taking as price sticks to $115K

India ramps up its crypto fraud crackdown with a $5 million asset attachment 
order tied to a fake Coinbase site that duped victims out of over $20 million. 
India Moves in on Assets After Coinbase Scam Leader Held in US India&#8217;s 
Directorate of Enforcement (ED) announced on Aug. 5 that it has issued a 
provisional […]

India Strikes After US Takes Down Suspect in Coinbase Clone Scam

KakaoBank is reportedly looking at services for the issuance and custody of 
stablecoins with plans to “actively participate” in the crypto market.