This week, Bitcoin reached an all-time high, drawing significant investor interest and highlighting key events in the cryptocurrency sphere.
Bitcoin Price and ETF Inflows
This week, Bitcoin's price soared by 11%, reaching a record of $118,856. The rise was primarily driven by record inflows into ETFs, exceeding $2 billion over two days. Corporate treasuries added 159,000 BTC in the first half of the year, now representing 4% of Bitcoin’s total supply.
Events Around Pump.fun and CZ
Pump.fun, a memecoin launch platform, raised an astonishing $500 million in 12 minutes during its ICO. However, this event has stirred controversy in the crypto community. Meanwhile, amid allegations from Bloomberg regarding ties to the Trump-affiliated stablecoin USD1, Binance co-founder Changpeng 'CZ' Zhao announced plans to pursue legal action.
Financial Threats and Sanctions
U.S. authorities have imposed sanctions on two individuals and four entities associated with a North Korean scheme that deploys IT workers to generate funds for the missile program. This move reflects a strategic shift from large-scale crypto hacks to deception-based infiltration.
The week proved pivotal for the cryptocurrency market with unprecedented Bitcoin growth, significant events surrounding ICOs and sanctions indicating future trends.
