Weekly Recap | Korea Backs AI & Chips, Echobit TradFi Launch, Alpaca Raises $135M
2026.07.20
Last Week in Review (July 13 – July 19)
Last week, the crypto market remained in a phase of consolidation, with Bitcoin trading between $63,000 and $65,000. Institutional sentiment stayed mixed as weakness in U.S. equities and ongoing geopolitical tensions continued to weigh on market confidence. Prediction markets also reflected a cautious outlook among traders.
Despite continued inflows into spot Bitcoin ETFs, large mining companies faced mounting pressure from rising mining costs and government-led Bitcoin liquidations in the United States. Bulls and bears continued battling within the current trading range, while geopolitical risks and expectations of further monetary tightening limited upside momentum. Although June U.S. CPI came in lower than expected, market attention has now shifted to the upcoming FOMC interest rate decision.
This week, the crypto market is expected to remain range-bound as macroeconomic developments and U.S. regulatory updates continue to shape sentiment. Institutional inflows may provide downside support, but geopolitical uncertainty and weakness in technology stocks remain key risks.
In this edition, we'll recap the most important crypto developments from the past week and preview the major events to watch in the week ahead.
Market Pulse
- Morgan Stanley filed updated registration documents for its Ethereum and Solana ETFs, both featuring a 0.14% management fee.
- Samsung is reportedly exploring the possibility of issuing ADRs in the United States.
- U.S. Treasury Secretary Scott Bessent announced that more than $130 million in Iranian digital assets had been frozen.
- The Czech Republic ordered internet service providers to block Polymarket over alleged illegal gambling activities.
- South Korea suspended the launch of new single-stock leveraged ETFs and tripled margin requirements.
- Cascade CLS Vault reportedly suffered an exploit resulting in approximately $1.3 million in losses.
- Tether invested $20 million in Argentine digital bank Ualá.
Funding & M&A
Last week saw 17 funding rounds totaling over $800 million, with infrastructure and DeFi remaining the primary investment sectors.
- ADI Chain raised $50 million.
- Cyclops secured $20 million in Series A funding to expand stablecoin payment infrastructure.
- Pact Labs completed a $7 million Series A round led by Tether.
- Crypto settlement infrastructure provider Glacis Labs raised $6.8 million in seed funding led by Lightspeed Faction.
- Crypto.com received a $400 million investment from Citadel Securities, reaching a $20 billion valuation.
- Alpaca raised $135 million in funding led by Peak XV.
- Stablecoin cross-border banking platform Flex secured $70 million, led by Halo Fund.
- Prediction market platform Pascal completed a $9 million Series A led by Union Square Ventures.
- ORANGE JUICE raised $40 million.
Policy & Compliance
- South Korea launched three national strategic initiatives focused on semiconductors, AI, and advanced technologies.
- New Hampshire signed the Blockchain Basic Act into law.
- The UK plans to issue the G7's first digital sovereign bond in early 2027.
- South Korea's Ministry of Economy and Finance proposed legislation covering state-owned assets, including cryptocurrencies.
- The Central Bank of Tanzania is preparing a regulatory framework for cryptocurrencies and stablecoins.
- Australia's 50% capital gains tax discount for crypto assets will end in July 2027.
Echobit Highlights
- Echobit July Futures Trading Competition continued to drive global trading participation.
- Echobit officially launched the TradFi Asset Listing Celebration, marking the expansion of its TradFi product lineup.
- Echobit World Cup Prediction Carnival remained in full swing, combining AI-powered predictions with football excitement.
- The Echobit VIP Activity Zone continued offering exclusive benefits for premium users.
- The World Cup Prediction Leaderboard Challenge continued to encourage competitive participation.
- The Emoji Football Star Challenge officially launched, bringing interactive World Cup-themed engagement.
- Echobit launched its Futures Training Camp to help users strengthen derivatives trading skills.
- The World Cup Football Star Prediction event officially went live.
- Echobit Quiz Challenge officially launched, encouraging community participation through knowledge-based activities.
- Roll The Dice interactive event continued to boost community engagement.
- The World Cup Third-Place Match Prediction campaign kept users engaged during the tournament's final stage.
Next Week Preview (July 20 – July 26)
- NEAR Mainnet v2.13.0 voting begins on July 20, introducing post-quantum signatures and dynamic sharding.
- Robinhood ecosystem DeFi protocol Arrow will launch its Arrow Pad token launch platform on July 20.
- NYSE-listed Bitcoin miner Cango will complete a 10-for-1 reverse stock split on July 20.
- TownSquare will open its public TOWN token sale on July 20.
- Sweden's Bitcoin Treasury Capital received approval to list its preferred shares, BTC PREF.
- Russia's State Duma is scheduled to review the Digital Currency and Digital Rights Act on July 21.
- The European Central Bank will announce its latest interest rate decision on July 23.
Echobit will continue tracking global crypto developments, delivering timely insights into market trends, regulatory updates, and investment opportunities to help you stay ahead in every market cycle.