Bitcoin hits $123K, overtakes Amazon
Also: Dolce & Gabbana exits NFT case, stablecoins split UK and US, Czech bank doubles down on crypto
Today's headlines:
Bitcoin hits $123K, overtakes Amazon
UK’s Ziglu collapses, £2.7M shortfall
UK, US split on stablecoins’ future
Binance’s CZ threatens Bloomberg lawsuit
D&G USA exits NFT lawsuit, focus shifts abroad
Pump.fun buys Kolscan, token up 10,000%
Czech central bank buys Coinbase, Palantir
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Below is a breakdown of everything we covered today – Monday July 14, 2025 – from U.K. to U.S. and all-time highs to D&G luxury. Make sure you tune in again tomorrow on YouTube and X to catch the news as it happens.
Bitcoin hits $123K, overtakes Amazon
Bitcoin broke its all-time high again this morning, soaring to $123,000 and overtaking Amazon to become the world’s fifth most valuable asset. This surge also cements Satoshi Nakamoto, its pseudonymous creator, as the world’s 11th richest person.
The global crypto market cap has climbed above $3.8 trillion, with Ethereum topping $3,000, XRP nearing $2.93, and SUI jumping 13%.
Fueling the rally are a weakening U.S. dollar, a pro-crypto bill advancing in Congress, Elon Musk’s vocal Bitcoin support, and major institutional buy-ins. Market watchers predict Bitcoin could hit $135K by summer’s end, with some eyeing $200K by year-end – but warn that big rewards come with big risks.
Bitcoin just surpassed Amazon and is now the 5th largest asset in the world! pic.twitter.com/SBRwVPVkhi
— The Crypto Radio (@thecryptoradiox) July 14, 2025
UK’s Ziglu collapses, £2.7M shortfall
UK crypto fintech Ziglu has fallen into special administration, freezing customer withdrawals and revealing a £2.7 million ($3.6 million) shortfall affecting 4,000 users’ Boost accounts.
The company, once valued at $170 million, offered up to 6% yields but was not covered by the UK’s Financial Services Compensation Scheme. Administrators allege Ziglu directors used customer funds for operating expenses and lending, leaving a major hole as insolvency approached.
The collapse raises fresh alarms over regulatory gaps in the UK’s crypto sector, especially around high-yield products.
Stablecoin tensions rise between UK, US
Bank of England Governor Andrew Bailey warned that private stablecoins could destabilize financial systems, suggesting the UK should instead focus on tokenizing traditional bank deposits. European regulators share concerns, fearing dollar-backed stablecoins could marginalize local currencies like the euro and pound.
Meanwhile, the U.S. is embracing stablecoins under the Trump administration, seeing them as a tool to reinforce dollar dominance globally. With Treasury and Federal Reserve backing, dollar-tied stablecoins are positioned as digital extensions of U.S. power – a divergence that underscores brewing geopolitical and financial tensions.
Binance’s CZ threatens Bloomberg lawsuit
Binance co-founder Changpeng “CZ” Zhao is threatening legal action against Bloomberg after it reported Binance’s involvement in USD1, a Trump-affiliated dollar stablecoin.
The article alleges Binance wrote USD1’s smart contract and holds over 90% of its supply, linking it to a $2 billion UAE deal and suggesting CZ may seek a presidential pardon. CZ called the report a “hit piece,” hinting at defamation action, while crypto influencer Matt Wallace accused Coinbase of leaking details – a claim Coinbase’s legal chief dismissed.
The episode spotlights rising tensions at the intersection of crypto, politics, and media.
4. FUD. Bloomberg just wrote another hit piece (sponsored by a competitor) containing so many factual errors I don't even know where to begin.
— CZ 🔶 BNB (@cz_binance) July 11, 2025
Might have to sue them again for defamation. https://t.co/FevGMArHj8
Dolce & Gabbana USA escapes NFT lawsuit
Dolce & Gabbana’s U.S. arm has been dismissed from a class-action lawsuit over delayed DGFamily NFTs, which plaintiffs say caused a 97% value crash. While the dismissal clears D&G USA, legal scrutiny continues overseas and for partner platform UNXD.
Customers claim they were left with near-worthless NFTs after promised digital outfits and experiences failed to materialize, raising concerns about accountability in the luxury NFT market.
Pump.fun buys Kolscan, token up 10,000%
Memecoin launchpad Pump.fun has acquired wallet tracker Kolscan, marking its first acquisition. Kolscan’s token skyrocketed from $300,000 to over $22 million immediately after the news.
Pump.fun plans to merge social media with crypto trading, aiming to rival platforms like Facebook and TikTok. With its upcoming ICO, the platform promises to share 25% of future revenue with token holders, positioning itself as one of crypto’s most ambitious revenue-sharing projects.
we’re excited to announce that pump fun has acquired @kolscan
— pump.fun (@pumpdotfun) July 10, 2025
Kolscan is a wallet tracker that monitors the activities of top onchain traders. it provides realtime transactions, token PnL, and a leaderboard ranking their performance
our integration will not only enable better… pic.twitter.com/V4VDcOwVeG
Czech central bank buys Coinbase, Palantir
The Czech National Bank has invested in digital and AI assets, purchasing more than $18 million in Coinbase shares and boosting its Palantir stake to nearly 520,000 shares.
Coinbase, now part of the S&P 500, has seen its stock surge 60% in a month despite recent revenue dips. Palantir’s stock has soared 80% this year, far outperforming the broader market.
The move signals the Czech central bank’s growing interest in tech-driven finance – raising the question of whether other national banks will follow suit.
