Here’s a quick recap of the crypto landscape for Wednesday (July 8) as of 10:00 a.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrencymarket news
Bitcoin price update
Bitcoin (BTC) was priced at US$61,913.23, down by 2.2 percent over the past 24 hours.
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Bitcoin price performance, July 8, 2026.
Ether (ETH) was priced at US$1,733.47, trading 2.3 percent lower over the last 24 hours.
Altcoin price update
- XRP (XRP) was priced at US$1.08, trading 3.9 percent lower over the past 24 hours.
- Solana (SOL) was trading at US$77.06, trading 5.2 percent lower over the past 24 hours.
Today’s crypto news to know
SEC set for major crypto overhaul
The Securities and Exchange Commission (SEC) is gearing up for a massive regulatory overhaul this July with the release of its highly anticipated “Regulation Crypto” agenda.
The proposal aims to clarify the rules around digital assets and establish clear guidelines for the industry while protecting investors. Central to the package are new registration exemptions that would allow crypto startups to bypass the full securities registration process for up to four years as they develop their networks.
During this temporary exemption period, projects would still be legally required to provide necessary financial statements and disclosures to their investors.
Additionally, the SEC is considering a fundraising exemption, championed by Chairman Paul Atkins, that would let startups raise up to US$75 million in any 12-month period without undergoing full agency registration.
The overhaul also proposes a crucial investment contract safe harbor designed specifically for decentralized finance (DeFi) projects and token issuers.
Under this safe harbor, once developers are no longer the driving managerial force behind a project and the network becomes fully decentralized, the token would no longer be treated as a security.
Reserve Bank of India reiterates call for crypto ban
India’s cryptocurrency policy remains firmly in limbo, but internal government documents reveal that key authorities continue to push for tighter restrictions and a potential blanket ban, according to a Reuters report.
The Reserve Bank of India (RBI) has doubled down on its long-standing hardline stance by officially backing a policy that leans toward the complete prohibition of digital assets. According to recent documents from May and June, the central bank argues that domestic banks and financial institutions should be entirely barred from holding, trading, or having any exposure to cryptocurrencies or privately issued stablecoins.
The RBI believes isolating the traditional financial system from crypto is necessary to prevent market volatility from spreading to the wider economy.
In tandem with the central bank’s warnings, India’s Income Tax Department has raised its own alarm regarding the severe difficulties of monitoring trades executed on overseas crypto exchanges.
Tax officials stress that this lack of visibility makes it incredibly difficult to enforce compliance, significantly increasing the risk of widespread tax evasion among domestic traders.
Despite these coordinated warnings from major agencies, the Indian government has not yet taken a definitive legislative stand on whether to regulate or outright ban virtual digital assets.
Gemini leads crypto IPO losses with 89 percent collapse from debut
The post-IPO landscape for cryptocurrency companies show major digital asset listing since mid-2025 currently trading well below its debut-day price.
Leading the massive downward trend is the Gemini exchange, which has seen its stock plunge a staggering 89 percent from its US$37 opening trade last September down to just US$4.19. Across the sector, BitGo is sitting 77 percent below its January 2026 debut of US$22.43 and Bullish shares sinking roughly 71 percent from their US$90 open.
Other recent public entrants have also stumbled: eToro trades are down 42 percent from its opening print, while Figure and Circle have dropped 14 and 6 percent, respectively.
The persistently weak market performance has completely frozen the upcoming pipeline for future crypto listings, forcing several major firms to push back their planned 2026 debuts.
Kraken’s parent company Payward paused its listing earlier this spring, while industry heavyweights like Grayscale, Consensys, and Ledger have similarly postponed their IPO preparations until market conditions eventually stabilize.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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