“It’s what we’ve been waiting for.”
Bitcoin broke through multiple all-time highs yesterday, triggering euphoria across the crypto space. With BTC blowing past $113K, then $115K, and waking up this morning to $118K, this rally has been nothing short of explosive. We’ve been tracking this potential move for weeks, and now it’s here.
Beyond the price action, we also got a few big wins on the regulatory front, a consumer protection battle brewing in Florida, and some fascinating listener insights into the use of NFTs and blockchain in car manufacturing. Let’s get into it.
🕵️♂️ Florida AG Investigates Robinhood Over Alleged Crypto Pricing Misconduct
📈 Bitcoin ETFs See Second-Biggest Inflow Day Ever — Why It Matters
💥 $1.14B in Crypto Shorts Liquidated as Ethereum Tops $3K for First Time Since February
🚀 Bitcoin Hits Pivotal Moment — Is $120K Next?
🇺🇸 Ethereum Surges and Eric Trump Declares, “You’re Finally Green”
📉 Trader Cobb & Market Training via The Grow Me Co
Treasury Backs Off Crypto Broker Rules
“DeFi gets breathing room… Privacy and innovation is protected, at least temporarily.”
One of the biggest under-the-radar wins this week came from the U.S. Treasury Department, which quietly backed off enforcing controversial crypto broker reporting rules tied to the 2021 Infrastructure Act.
The law had originally expanded the definition of "broker" to include nearly every actor in crypto — from Coinbase to Uniswap, even DeFi developers and wallet builders. The requirement would have forced these entities to report user data via IRS Form 1098, an impossible task for decentralized platforms.
Fortunately, the Treasury has decided not to enforce this rule — for now. This preserves DeFi’s ability to function without immediate surveillance or censorship concerns. However, the rule remains on the books, and that’s a problem.
Let’s compare this to having a broken taillight: “You’re not being pulled over now, but the law’s still there. And if you’re the wrong person in the wrong place, that could change real quick.”
In short, it’s a temporary win — but with strings attached.
Florida’s AG Targets Robinhood Crypto
“The AG argues that President Trump's push to expand the crypto sector underscores the importance of fair practices in Florida.”
Florida Attorney General James Uthmeier has launched an investigation into Robinhood Crypto, accusing the platform of misleading customers by claiming it’s the lowest-cost way to buy digital assets.
At the heart of the probe is Robinhood’s payment-for-order-flow model — a structure where trades are routed through third parties that pay Robinhood to execute them. Critics argue this can result in higher, hidden costs for users despite low-fee marketing.
The state subpoena demands internal documents and trade data for Florida users throughout 2024. Robinhood has until July 31 to respond. While federal regulators recently dropped their investigation into Robinhood, this case focuses on consumer protection rather than securities law — and it’s being driven by state-level scrutiny in a pro-crypto political environment.
With Florida aiming to become a crypto-friendly hub, deceptive practices could undermine that reputation fast.
Bitcoin & Ethereum ETF Inflows Break Records
“Where’s the next stop? No one knows.”
The big story of the day — and the week — is Bitcoin’s breakout. After a relatively quiet climb, BTC blew through resistance levels and hit an all-time high of $118,000.
What’s behind the surge? ETFs.
Bitcoin ETFs saw a combined $1.17 billion in inflows yesterday — the second-highest day ever. BlackRock led the charge with $448 million into IBIT, followed by Fidelity’s FBTC with $324 million and ARK’s product with $268 million.
Ethereum wasn’t left behind. The asset crossed $3,000 for the first time since February after pulling in $383 million into ETH ETFs, also led by BlackRock.
This is the kind of institutional capital we’ve been waiting for. And yes, if you bought Ethereum back when Eric Trump tweeted “It’s time to buy” at $2,870, you’re finally back in the green — after a 37% crash and months of pain.
Listener Questions
DMC Token
Our favorite Dutch listener brought up the DeLorean Motor Company’s new DMC token — and this one sparked a deep dive. Despite DeLorean being largely a nostalgic brand with no production cars since the 1980s, the project is using blockchain in ways that are genuinely innovative.
The DMC token enables:
On-chain reservations for DeLorean’s Alpha5 EV via NFTs representing production queue slots
Marketplace payments for digital collectibles and build slots
Immutable vehicle data (ownership, maintenance, performance metrics)
Governance and staking rewards for community engagement
I see promise here, especially with blockchain-powered transparency around vehicle history. “You’re buying a million-dollar car — you want to know how it was driven. Blockchain lets you prove that.”
Skepticism remains about whether the company can deliver. But if executed right, this could push Web3 vehicle tech into the mainstream.
My Take
“It’s a great win — but with strings attached.”
The Treasury’s decision not to enforce crypto broker reporting rules is a short-term victory, but we shouldn’t get comfortable. Just like a law sitting idle on the books, this regulation could come back when it’s convenient. Until it’s officially repealed or clarified by Congress, it’s still a sword hanging over DeFi’s head.
On Robinhood, transparency is everything — especially in crypto. If Robinhood is claiming they’re the cheapest option, they better prove it. Retail investors have been misled before, and this time, the spotlight’s on. It’s good that state AGs are stepping up to protect users when the feds won’t.
As for DeLorean’s token and NFT approach — I’m cautiously optimistic. It’s exactly the kind of utility we’ve been imagining since 2016. But execution is everything. If it’s just marketing fluff with no real production behind it, people will get burned. If they can pull it off? Total game changer.
Crypto Prices – July 11, 2025 – 10:14 AM ET
Bitcoin (BTC): $117,959
24h: +6.2%
7d: +9.4%
Market Cap: $2.34 trillion
Ethereum (ETH): $2,994
24h: +7.5%
7d: +19.0%
Market Cap: $361.5 billion
XRP: $2.76 (+13.5% / +25%)
BNB: $690 (+3%)
Solana (SOL): $165 (+5.5%)
Dogecoin (DOGE): $0.203 (+13% / +23%)
Cardano (ADA): $0.747 (+20% / +30.2%)
HBAR: $0.205 (+15.7%)
Stellar: $0.343 (+18.6%)
Total Market Cap: $3.69 trillion (+6.6%)
Summary
Bitcoin broke new ground with institutional firepower behind it, while Ethereum reclaimed $3,000 with similar ETF-driven momentum. The Treasury’s soft retreat from aggressive DeFi rules is a win for privacy, but it leaves room for abuse. Robinhood faces scrutiny in Florida, and the DeLorean Motor Company might just be pioneering real-world NFT utility — or overpromising.
No matter how you slice it, this was a massive week for crypto.
Happy HODLing, Everyone.
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