Key Takeaways
- Ethereum ($ETH) has surged to $3,700, marking its highest level since early January and representing a more than 50% gain from early July lows, fueled by regulatory clarity and institutional interest in spot ETH ETFs.
- Russia is set to restrict foreign messaging applications like WhatsApp by September 1, 2025, with President Putin ordering measures that promote a domestic, surveillance-linked alternative called "Max messenger."
- Crypto exchange Tokenize Xchange will cease its Singapore operations by September 30, 2025, after the Monetary Authority of Singapore (MAS) declined to grant it a license, prompting a shift of its business to Labuan, Malaysia.
- President Trump announced that Coca-Cola (KO) has agreed to switch to cane sugar from high-fructose corn syrup in its U.S. products, though the company has yet to officially confirm the change.
- London is grappling with a significant rise in phone thefts, with reports indicating a device is stolen every five minutes in the city.
Ethereum ($ETH) has demonstrated remarkable bullish momentum, surging to approximately $3,700 on July 18, reaching its highest price point since early January. This impressive rally represents a gain of over 50% from its early July lows of around $2,400. Analysts attribute this significant increase to a combination of factors, including newfound regulatory clarity from the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS Act) and the anticipation surrounding BlackRock's Ethereum ETF filing, which has bolstered institutional confidence. The surge has resulted in over 90% of Ethereum holders being in profit.
In geopolitical news, Russia is moving to tighten its control over digital communications. President Vladimir Putin has ordered the government to implement measures by September 1, 2025, to restrict the use of foreign software, with a particular focus on messaging applications from countries deemed "unfriendly." WhatsApp, owned by Meta, is considered a prime candidate for blocking under these new regulations. Simultaneously, Russian officials have been directed to transition to "Max messenger," a domestic application developed by VK, which reportedly offers extensive access to user data, raising concerns about increased government surveillance. Separately, the Russian Defense Ministry confirmed that Russian forces have liberated Belaya Gora in the Donetsk People’s Republic, indicating ongoing military advances in the region. The Kremlin also noted that discussions on formulating major agreements between Moscow and Washington remain in their early stages, highlighting the complexity of current diplomatic efforts.
The cryptocurrency sector saw significant regulatory impact as Tokenize Xchange announced it would shut down its Singapore operations by September 30, 2025. This decision follows the Monetary Authority of Singapore's (MAS) refusal to grant the exchange a necessary license for digital payment token services. Tokenize Xchange plans to relocate its operations to Labuan, Malaysia, and is seeking regulatory approval in Abu Dhabi. All 15 of its Singapore-based employees have received notice.
In corporate developments, former President Donald Trump announced that Coca-Cola (KO) has agreed to switch from high-fructose corn syrup to cane sugar in its U.S. beverages. Trump, a known fan of Diet Coke, stated on his Truth Social platform that he had been in discussions with the company, calling the potential move "very good." While Coca-Cola has not officially confirmed the full transition, it acknowledged Trump's enthusiasm and indicated that "more details on new innovative offerings" would be shared soon. Health experts, however, caution that both high-fructose corn syrup and cane sugar pose health risks when consumed in excess.
Meanwhile, London continues to face a persistent challenge with phone thefts, with reports indicating that a mobile phone is stolen every five minutes in the city. This alarming rate contributes to a £50 million underworld industry, with many stolen devices reportedly being resold or disassembled for parts in China. In other news, residents of Russia's Kamchatka Peninsula were alerted to potential tsunami waves after a series of earthquakes, including a magnitude 7.4 tremor, struck off the coast. Officials in Hawaii initially issued tsunami watches, which were later canceled as seismic data indicated no threat to the islands. No casualties or significant structural damage have been reported in the affected Russian region.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.