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⚡️ The Daily Pump: Crypto Moves You Can’t Ignore
Your front-row seat to the biggest gains, boldest calls, and breaking stories in crypto—delivered daily.
CoinGape Media
July 16, 2025
📰 News
Cantor Fitzgerald Eyes $3B+ Bitcoin Deal With Adam Back Amid Treasury Arms Race
The early Bitcoin supporter has a streak of supporting companies stacking up the top cryptocurrency on their balance sheet. Before the discussions with Cantor Fitzgerald’s SPAC, Back invested in The Blockchain Group and H100 Group, companies with significant Bitcoin holdings.
Meanwhile, Bitcoin treasury companies have exploded in popularity since the start of the year. Strategy reached 600K BTC after an aggressive accumulation streak while Metaplanet continues to add the top cryptocurrency to its balance sheet.
Last week, treasury companies added $554M worth of BTC to their balance sheets as the arms race heats up. Amid the accumulation spree, Bitcoin has set new ATHs, climbing as high as $123,091 in defiance of macroeconomic uncertainty and low odds of a Fed rate cut.
Key Takeaways:
Cantor Fitzgerald to buy 30,000 BTC from Adam Back
Deal worth $3B+, includes share swap with BlockStream
SPAC to be renamed BSTR Holdings, raising $800M more
Expected to close this week during Crypto Week
Mirrors Cantor’s $3.6B deal with Softbank and Tether
Adam Back backs multiple BTC-heavy firms
Treasury firms added $554M BTC last week
Bitcoin hit $123K amid institutional buying frenzy
GENIUS Act Stalls As House Fails To Pass Key Vote
The U.S. House of Representatives has voted against proceeding with the consideration of this crypto bill alongside the CLARITY Act and Anti-CBDC Act. According to an X post by US-based journalist Jake Sherman, the House voted 196-222 on the procedural motion, putting a cog in the wheels of the Crypto Week.
This development negatively affects the timeline for the GENIUS Act and the two other crypto bills. As CoinGape reported, these crypto bills were on course to go through a passage vote by July 17.
House members will attempt the key procedural vote again later in the day, but it remains unclear whether the vote will pass. Previously, Trump has urged Republican lawmakers to vote in favor of the bills, noting that the stablecoin bill will put the U.S. ahead of its peers.
Some House members, like Marjorie Taylor Greene, allegedly voted against proceeding with the bills, citing the absence of a hard ban on a central bank digital currency (CBDC) in the GENIUS Act. The lawmakers argue that if passed, the GENIUS Act could serve as a “back door” for the introduction of a CBDC.
Key Takeaways:
U.S. House voted 196-222 against proceeding with crypto bills
GENIUS Act, CLARITY Act, and Anti-CBDC Act now face delays
A second procedural vote is expected later today
Trump urged Republicans to support the bills
Some Republicans voted no due to lack of CBDC ban
Democrats declared this week "Anti-Crypto Corruption Week"
Bitcoin price rose despite the failed vote, crossing $117,000
BTC had earlier hit a record $123,000 on July 14 anticipating bill passage
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📊 Markets
Bitcoin Swings as Trump Revives Crypto Bill Support
The GENIUS Act’s uncertainty briefly weighed on crypto markets. Bitcoin, which had surged to a new all-time high of $123,260 in anticipation of Crypto Week, retreated to $115,735 after the failed vote. Prices have since rebounded to around $117,000 mark as optimism grows over renewed legislative momentum.
Crypto markets were momentarily affected by the uncertainty surrounding the GENIUS Act. After the unsuccessful vote, Bitcoin, which had risen to a new all-time high of $123,260 ahead of Crypto Week, fell to $115,735. Since then, prices have increased to about $117,000 as hope for a new legislative push grows.
House divisions remain, however. Lawmakers such as Marjorie Taylor Greene have criticized the bill for not containing a strict ban on a central bank digital currency (CBDC). She warned it could become a “back door” for introducing government-backed digital money.
Key Takeaways:
Bitcoin hit an ATH of $123,260 before the GENIUS Act vote failed.
BTC dropped to $115,735 after the vote but rebounded to $117,000.
Market optimism returns as legislative momentum for the bill grows.
House remains divided over the bill’s lack of a CBDC ban.
Marjorie Taylor Greene warns the bill may enable a backdoor CBDC.
Pump.fun Buyback Details and Purpose
The move by Pump.fun to repurchase tokens of its $PUMP coin comes after one of the largest sales of meme coins on Solana, which sold 33% of the 1 trillion total supply of its token at $0.004 per token. The $PUMP sale generated $1.32 billion and pegged the fully-diluted valuation (FDV) of the token at $5.97 billion.
However, according to an X post, the project used its fee wallet to fund the buyback wallet, which was seen as a serious intention to stabilize the price of the token.
The buyback, which took place in a narrow 20-minute time interval, can be interpreted as an attempt to adjust to the market situation and fluctuations in the token price. Nevertheless, even with the buyback, the $PUMP token has been criticized from the challenges of its non-utility and possibility to become volatile in the long-run affecting the price thereof.
Key Takeaways:
Pump.fun sold 33% of $PUMP's 1T supply at $0.004, raising $1.32B with a $5.97B FDV.
The project used its fee wallet to fund a price-stabilizing token buyback.
The buyback occurred within a 20-minute window amid price volatility.
Critics highlight $PUMP’s lack of utility and long-term volatility risk.
