There was a whirlwind of activity in the cryptocurrency world this week. From optimistic predictions by Coinbase Global Inc. CEO Brian Armstrong to Cathie Wood’s backing of a major Ethereum holder, the crypto market was abuzz with news.
Meanwhile, Melania Trump and Argentina’s Javier Milei were cleared of allegations of meme coin fraud, and Bitcoin continued to make headlines.
Coinbase CEO Sees Bright Future For Crypto Legislation
Brian Armstrong, CEO of Coinbase Global Inc., expressed his confidence in the future of cryptocurrency regulations in the U.S. Despite the government shutdown, Armstrong believes that the momentum for market structure legislation is at an all-time high. He stated that both Democrats and Republicans are eager to get this done, with 90% of the work already completed. The remaining 10% is being diligently worked on by both sides.
Cathie Wood Backs Major Ethereum Holder
Ark Invest founder Cathie Wood has extended her support to Quantum Solutions, the largest Ethereum-centered cryptocurrency treasury company outside of the U.S. Wood expressed her excitement to back Japan's first institutional-grade ETH treasury firm, emphasizing the importance of expanding access to innovation in global capital markets. The actual amount invested or the size of the stake was not disclosed.
See Also: Dogecoin Shows 4 Signs Of Breakout After Weeks Of Silence
Melania Trump And Argentina’s Javier Milei Cleared Of Meme Coin Fraud
In a class action lawsuit, plaintiffs lodged an updated complaint against Meteora and its co-founder, Ben Chow, in relation to the controversial launch of Official Melania and LIBRA meme coins. The plaintiffs asserted that Chow was at the center of the enterprise, while Meteora falsely operated under the banner of decentralized finance. Melania Trump and Argentine President Javier Milei were allegedly used as props to push controversial tokens in the market.
Millionaire Trader Continues To Accumulate Bitcoin
Despite losing 8 figures, pseudonymous millionaire trader Unipcs continues to aggressively accumulate Bitcoin. Unipcs advises traders to maintain a long-term perspective, stating that 25%–30% corrections in Bitcoin during bull runs are normal. Even a drop to $88,000 would not be unprecedented, though he doesn’t expect it.
Bitcoin Faces Resistance, But Bullish Fundamentals Remain
Bitcoin remains range-bound, facing resistance at $115,000. However, on-chain metrics signal short-term weakness but long-term bullish fundamentals intact. CryptoQuant data shows Bitcoin’s bull cycle remains in a late-stage accumulation phase, not a definitive end. The Dolphin cohort, large holders including ETFs, corporations, and wallets with 100–1,000 BTC, controls 26% of supply, around 5.16 million BTC.
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