The U.S. Gov approves a key digital asset, XRP plunges while BNB rises, the U.K. moves to sell billions in confiscated bitcoin assets, and more in this Week in Review.

Week in Review

In a historic move for the digital asset sector, the U.S. government has officially granted its first-ever endorsement of a key digital asset. Meanwhile, XRP saw a sharp 9.4% drop on July 23, triggering broader altcoin weakness as capital appeared to rotate into BNB. Across the Atlantic, the UK government is preparing to liquidate billions in confiscated bitcoin. In the political crypto space, Trump-affiliated World Liberty Financial sought to ease investor concerns by clarifying its WLFI token launch will avoid a presale and insider access. Lastly, Arthur Hayes warned that a subtle policy adjustment by the Bank of Japan could serve as a major bullish catalyst for Bitcoin.

US Government Puts Stamp of Approval on Key Digital Asset in Historic First Move

SEC Chair confirms first-ever U.S. government stamp of approval on a key digital asset, signaling a… read more.

Editor’s comment: The nightmare of the Gensler-led SEC is well and truly finally over.

XRP Plunges, Dragging Altcoins Down as BNB Rises to New Peak

On July 23, XRP experienced a significant decline, dropping 9.4% in 24 hours to $3.20, following a recent… read more.

Editor’s comment: At the very least, XRP seems to be suffering from a short-term rotation into BNB. Let’s see if this rotation is sticky.

Report: UK Moves to Sell Billions in Confiscated Bitcoin Assets

The UK Home Office is preparing to sell a massive stockpile of bitcoin seized from criminals, potentially… read more.

Editor’s comment: The UK seems to be taking a play from Germany’s playbook, which in hindsight was stupid.

Trump–Backed World Liberty Financial Clarifies WLFI Launch—No Pre-Sale, No Insider Edge

World Liberty Financial moves to calm investor concerns with a token unlock plan, delaying insider access… read more.

Editor’s comment: People within the Trump team know their stuff. The TRUMP token was handled well. MELANIA, which was executed by another team, not so much.

Arthur Hayes: BOJ’s Subtle Shift Could Explode Bitcoin Price

As a discreet financial maneuver takes shape in Japan, Arthur Hayes says this subtle central bank… read more.

Editor’s comment: I advise watching the BOJ closely, not just for this reason, but also for how long-dated Japanese sovereign bond yields react.