Ceasefire Ends, Crypto Dumps, and Robinhood Chain Explodes

FOMO Hour is our Daily Crypto News Show! From 10am ET! Mon-Friday! Powered by https://myriad.markets/markets Kick: https://kick.com/DecryptMedia X: https://x.com/DecryptMedia Farokh: https://x.com/farokh Tyler: https://x.com/Tyler_Did_It Mando: https://x.com/rektmando Crypto majors are red down 2-5% after the US struck Iran overnight and declared the ceasefire over; BTC -2% at $62k; ETH -2% at $1,735; SOL -5% at $77; HYPE -5% at $68. Morpho (+4%), Stable (+4%) and Uni (+3%) led top movers. Oil +5% at $74; Gold -2% at $4,060. Stock futures are also very red on the ceasefire ending news; DOW -1%, Nasdaq -1.3%. The SEC plans to introduce its long-awaited crypto rules as soon as this month, a “Regulation Crypto” proposal that would create safe harbors and exemptions shielding activities like tokenized securities and DeFi from enforcement. Trump’s Strategic Bitcoin Reserve remains a work in progress, with the White House still weighing whether the Treasury or Commerce Department has the legal authority to hold the government’s Bitcoin. India's central bank said it "leans toward prohibiting" crypto, recommending in government documents that banks and financial institutions be barred from holding, trading, or gaining exposure to crypto assets and private stablecoins to limit risk spillover. Kraken is aiming to secure a full banking license in Europe, which would let the exchange offer bank-like services across the EU. Wintermute called Bitcoin’s recent jump a temporary relief rally rather than a durable bottom. The Coinbase Premium has been negative for 50 straight days, meaning Bitcoin has traded cheaper on the largest US exchange than offshore for nearly two months, a clear sign of weak domestic demand behind July’s rally. The combined market cap of USDT and USDC fell to $257 billion from $268 billion over two months, while Tether burned $2.5B of USDT on Ethereum on July 7 in the latest major reduction.