Bullish volume plummets 43%, but 72% spread surge nearly offsets annual decline

Wintermute, one of the most prominent crypto market makers, has secured crucial SEC and FINRA approval to launch a U.S. broker-dealer operation, representing a significant milestone for institutional crypto market access. The new entity will enable Wintermute to provide direct brokerage and trading services to large investors and funds in the United States, significantly expanding its already substantial presence in the American market.

This strategic expansion comes at a critical time for the crypto sector as traditional financial institutions gradually increase their exposure to digital assets. The regulatory approval serves as a vote of confidence in Wintermute's compliance protocols, potentially accelerating institutional crypto adoption in the U.S. The move could pressure other major market players to follow a similar regulatory path, bringing greater legitimacy and liquidity to the global crypto ecosystem.

The White House has announced a significant pivot in cryptocurrency regulation, planning to cut unnecessary rules governing Bitcoin and other digital assets. This strategic move aims to streamline the U.S. regulatory environment and potentially accelerate the integration of digital assets into the American economy.

This regulatory shift could boost crypto market optimism, influence future Bitcoin price forecasts, and create a more favorable landscape for blockchain innovation. The White House decision marks a potential turning point for the cryptocurrency industry in the United States, with potential global consequences for adoption and regulation.

MARA, one of the leading Bitcoin mining companies, has drastically reduced its cryptocurrency reserves by 34%, falling to under 36,000 BTC in the first half of the year. This selling strategy represents a significant shift from the HODL philosophy to active Bitcoin monetization, reflecting a growing trend in the cryptocurrency sector. MARA's decision to sell part of its Bitcoin holdings comes at a time of market volatility and increasing pressure on mining companies to generate cash flow. This approach of balancing digital assets with financial stability is becoming the norm in the industry as companies seek to mitigate risks and optimize their balance sheets in an increasingly complex regulatory environment.

Japan's Financial Services Agency (FSA) has issued a directive requiring cryptocurrency exchanges to implement withdrawal delays and enhanced security measures to combat increasingly sophisticated scams. This joint initiative with the National Police Agency aims to protect investors and reduce significant losses in the country's cryptocurrency sector.

The new rules mandate platforms to restrict cryptocurrency withdrawals for a specified period after fiat deposits or digital asset purchases. Users will need to pre-register withdrawal addresses and face a waiting period before new addresses can be used. This measure represents a significant shift in cryptocurrency regulation in Japan, reflecting growing authorities' concerns about investor protection and market integrity.

A bipartisan ethics proposal pitched to US President Donald Trump to secure passage of the crypto market structure bill in Congress could create a significant tax benefit for the president, Bloomberg reported. The CLARITY ethics addendum would reportedly require the president to divest from crypto-related businesses while allowing him to defer capital gains taxes on those sales, potentially leading to tax savings in the millions of dollars.

Democratic concerns over Trump's crypto conflicts have been a central obstacle to passing the market-structure bill. Senators have been working on an ethics addendum meant to break that impasse, though the reported tax-deferral benefit could become another point of contention for Democrats to question whether the president's financial interests are genuinely curbed. The proposal, which has not been made public, is sparking debates about ethics and crypto regulation in the political arena.