Cryptocurrency
Will Ripple Shift to Full XRP Control? Bitwise CEO Thinks So

TL:DR
- Ripple controls 42% of XRP supply, raising talk of a corporate pivot toward treasury-like operations.
- Bitwise CEO suggests Ripple may become an XRP treasury firm as holdings grow rapidly.
- RLUSD stablecoin custody by BNY Mellon boosts Ripple’s push into institutional digital asset services.
Ripple’s Growing XRP Holdings Raise New Questions
Ripple may be transitioning from a payments-focused company to one with deeper ties to XRP as a reserve asset. According to Bitwise CEO Hunter Horsley, the company could be referred to as an “XRP treasury company” within the next year. This suggestion follows increasing corporate interest in holding XRP and the firm’s growing influence over the token.
I wonder if in 12 months, people will call Ripple an XRP treasury company.
— Hunter Horsley (@HHorsley) July 10, 2025
Ripple’s Q1 2025 XRP Markets Report stated that the company currently holds 4.56 billion XRP. Additionally, a large portion of XRP’s total supply—roughly 42%—remains under its control through monthly escrow releases.
While the escrowed XRP is managed by on-chain contracts, its long-term release structure continues to tie Ripple closely to the asset.
XRP Holdings Fuel Talk of a Corporate Pivot
Ripple CEO Brad Garlinghouse has publicly questioned the company’s $11 billion valuation, suggesting it doesn’t account for Ripple’s massive XRP holdings.
“That $11 billion number is very outdated,” Garlinghouse said in a previous statement, pointing to the company’s roughly $100 billion XRP-linked balance.
Meanwhile, this shift comes at a time when several public companies are exploring XRP treasury strategies. Trident Digital Tech Holdings is aiming to raise $500 million worth of XRP. Webus International has outlined a $300 million goal, while VivoPower and Wellgistics Health have secured $121 million and $50 million, respectively, in XRP for corporate reserves.
Stablecoin Efforts Continue with New Custody Deal
Ripple’s growing interest in digital assets extends beyond XRP. Its stablecoin, RLUSD, has reached a market cap of over $500 million. The company has tapped Bank of New York Mellon (BNY Mellon) to serve as custodian for it.
The oldest bank in the United States, is known for supporting digital asset custody services. Ripple’s choice adds traditional financial credibility to its stablecoin operations across XRPL and Ethereum.
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Cryptocurrency
Arthur Hayes Is Selling: Here Are the Altcoins He’s Ditching

The cryptocurrency market reached new heights in July as the total cap exceeded $4 trillion for the first time ever, led by bitcoin’s new peak above $123,000 and several altcoins’ rallies to ATHs, such as XRP and BNB.
The past few days, though, have gone in the opposite direction, with many altcoins charting double-digit price declines, while BTC plunged to a three-week low of under $113,000.
During these turbulent times of uncertainty, perhaps prompted by Trump’s latest tariffs and the movement of US nuclear submarines close to strategic Russian locations, prominent industry names, such as Arthur Hayes, have started to sell off. Here’s which altcoins the BitMEX co-founder sold in the past 24 hours.
ETH, ENA, PEPE Being Sold
As the data shared by the analytics resource Lookonchain points out, Hayes has used one of his known addresses to dispose of over $8 million worth of ETH, $4.6 million in ENA, and $414,700 worth of the third-largest meme coin by market cap – PEPE.
Later, the Maelstrom exec clarified that the reason for his sales is mostly related to Trump’s tariffs, many of which are set to be implemented starting from August 1. He believes BTC and ETH will retrace, as the former would retest the $100,000 resistance, while the latter will head toward $3,000.
Y? US Tariff bill coming due in 3q … at least the mrkt believes that after NFP print. No major econ is creating enough credit fast enough to boost nominal gdp. So $BTC tests $100k, $ETH tests $3k. Come see my @WebX_Asia Tokyo keynote Aug 25 for more info. Back to the beach. https://t.co/zuHlwgQKC7
— Arthur Hayes (@CryptoHayes) August 2, 2025
Hayes is far from the only larger crypto investor turning to a sell-off strategy amid this market uncertainty. Lookonchain identified an unknown whale that had deposited over $90 million worth of ETH to several exchanges within a span of just two days.
Not SharpLink, Though
While some whales and Hayes are rushing to sell ETH, the second-largest ether holder, SharpLink, has taken the opportunity to increase its impressive stash.
SharpLink(@SharpLinkGaming) spent another 108.57M $USDC to buy $ETH in the past 9 hours and received 14,933 $ETH($52.56M) 3 hours ago.
SharpLink now holds a total of 464,209 $ETH($1.63B).https://t.co/cW8EvzSFxthttps://t.co/7wH1lpRocu pic.twitter.com/weDyfVzm1J
— Lookonchain (@lookonchain) August 2, 2025
After accumulating another 14,933 ETH, the company now owns over $1.6 billion worth of Ethereum’s underlying asset (464,209 ETH), according to Lookonchain. Data from CoinGecko and strategicethreserve shows that SharpLink’s Ethereum fortune is second only to Bitmine’s 566,766 ETH.
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Cryptocurrency
XRP, TON Defy Market Correction as BTC, Alts Continue to Melt Down: Weekend Watch

Bitcoin’s adverse price movements that started on Thursday continued in the past 24 hours, with the asset sliding to a new multi-week low of under $113,000.
With multiple altcoins in the red as well, including a new all-time low for Pi, it’s no wonder that the total crypto market cap has dumped by nearly $250 billion in a few days.
BTC Keeps Dropping
The primary cryptocurrency experienced a brief retracement at the end of the previous business week when it dipped from $119,000 to under $115,000 amid substantial sell-offs by Galaxy Digital on behalf of a client. However, once the sale was completed, BTC recovered most losses and even headed toward $120,000 after the weekend.
The bears were quick to intercept the move and didn’t allow another price jump. Bitcoin remained calm until Wednesday, when the latest FOMC meeting was scheduled to take place. Despite the positive US GDP data for Q2 and Trump’s continued pleas for rate reduction, Powell and company left them unchanged for a fifth consecutive time.
BTC reacted with an immediate price slip to under $116,000 but bounced off and challenged $119,000 on Thursday morning. However, more Trump-induced volatility followed amid new tariff developments and nuclear sub movements, and bitcoin plunged below $113,000 on Friday evening for the first time since July 10.
It has recovered around a grand since then, but it’s still 1% in the red daily and 3% down weekly. Its market cap is down to $2.260 trillion, while its dominance stands tall at 60%.
XRP Fares Well
Most larger-cap alts have followed BTC on the way south, with even bigger price declines. ETH has slipped below $3,500 after a 4% daily drop, SOL is below $165, while DOGE, HYPE, LINNK, BCH, and HBAR have retraced by around 3-4%.
Pi Network’s native token dumped to another all-time low earlier today, while ENA has plunged by 7%. There are a few exceptions from the larger-cap alts, including XRP and LTC, which are slightly in the green. TON has risen by over 3.5% to almost $3.6.
The total crypto market cap has dumped to $3.750 trillion on CG. This means that the metric has lost roughly $250 billion since Thursday’s peak.
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Cryptocurrency
Coinbase Tanks 11% Pre-Market After $1.5B Q2 Revenue Miss

Coinbase shares fell sharply after the company reported second-quarter earnings that missed expectations. Total revenue for the quarter came in at $1.5 billion, representing a 26% decline from the previous quarter.
The shortfall was largely driven by weaker-than-expected transaction revenue, which fell 39% quarter-over-quarter to $764 million.
Missing Expectations
In the official release, Coinbase revealed that its subscription and services revenue also declined 6% to $656 million. Despite efforts to reduce variable costs, operating expenses climbed 15% to $1.5 billion. Coinbase attributed this largely to the $307 million hit related to the data breach disclosed in May.
The crypto exchange recorded a net income of $1.4 billion, but this figure included $1.5 billion in pre-tax unrealized gains from strategic investments, including in Circle, as well as a $362 million pre-tax gain from its crypto investment portfolio. On an adjusted basis, net income stood at just $33 million, with adjusted EBITDA reaching $512 million.
Coinbase’s trading activity also underperformed the broader crypto spot market, as global and US crypto spot volumes declined 31% and 32% respectively. Meanwhile, its total trading volume fell 40% to $237 billion, and the consumer segment witnessed a 45% drop to $43 billion.
Consumer transaction revenue plunged 41% to $650 million, as volume shifted toward Simple trades amid low volatility. Institutional transaction revenue also saw a similar pattern, down 38% in both volume and revenue.
While Base Chain activity grew, other transaction revenue dropped 21% as average revenue per transaction declined.
As of the close on the previous trading day, Coinbase (COIN) shares were priced at $377.76, up slightly by $0.28. However, pre-market trading shows a sharp decline, with the stock down $42.30 (-11.20%) to $335.46. This steep drop suggests a strong negative reaction from investors, likely in response to recent earnings results.
Despite grappling with declining revenues and rising costs, Coinbase is doubling down on product innovation.
“Everything App”
Earlier this month, Coinbase rebranded its Wallet as the Base app, launching a crypto-focused “everything app” that merges trading, social media, USDC payments, mini-apps, and tokenized posts.
Announced at its “A New Day One” conference, the app runs on Coinbase’s Ethereum Layer 2 network and integrates Farcaster for social feeds, Zora for post tokenization, and encrypted XMTP chat. Users can earn from tips, interact with AI agents, and make one-tap payments.
The platform also introduced Base Pay for Shopify merchants and plans 1% USDC cashback in the US. The app is in beta, while a full public release and developer tools are expected soon.
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