Connect with us

Hi, what are you looking for?

Investing

Crypto Market Update: Ethereum Rallies Past US$4,000, Trump Orders Crypto Review in 401(k)

Here’s a quick recap of the crypto landscape for Friday (August 8) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$116,381, trading flat over the last 24 hours. Its highest valuation on Friday was US$116,112, while its lowest valuation was US$117,596.

Bitcoin price performance, August 8, 2025.

Chart via TradingView

Ethereum (ETH) was priced at US$3,956.05, up by 3.3 percent over the past 24 hours. Its lowest valuation on Friday was US$3,806.16, and its highest was US$3,997.11.

Altcoin price update

  • Solana (SOL) was priced at US$175.34, up by 2.8 percent over 24 hours. Its lowest valuation on Friday was US$168.36, and its highest was US$178.02.
  • XRP was trading for US$3.24, up by 6.1 percent in the past 24 hours. Its lowest valuation of the day was US$3.03, and its highest valuation was US$3.37.
  • Sui (SUI) is trading at US$3.75, up 0.5 percent over the past 24 hours. Its lowest valuation of the day was US$3.67, and its highest was US$3.88.
  • Cardano (ADA) was trading at US$0.7825, up by 2.9 percent over 24 hours. Its lowest valuation on Friday was US$0.7521, and its highest was US$0.8044.

Today’s crypto news to know

Ethereum breaks US$4,000 as Ripple and Chainlink spark altcoin rally

Ethereum surged past US$4,000 early Friday, hitting near year-to-date highs amid a broader rally in altcoins led by Ripple and Chainlink.

XRP jumped up to 8 percent after Ripple announced a US$200 million acquisition of Rail, a stablecoin payments platform designed to expand its cross-border settlement network.

Chainlink’s LINK token rose as much as 11 percent following news of its new Chainlink Reserve, which will accumulate LINK using revenue from institutional and on-chain fees.

Other major coins, including Solana, also saw gains in early trading. Ripple’s deal aims to integrate stablecoin pay-ins and payouts for USD and other currencies without requiring businesses to hold crypto.

The rally also coincided with President Trump’s executive order promoting alternative assets like crypto in retirement accounts, adding to bullish sentiment in the market.

Trump order opens door for Crypto and private equity in 401(k)s

President Trump has signed an executive order directing the Labor Department to review its fiduciary rules for retirement plans, potentially clearing the way for assets like cryptocurrency, private equity, and real estate to be included in 401(k)s.

While no laws have changed, the move signals a shift from the Biden-era stance that warned against crypto in retirement accounts.

The Employee Retirement Income Security Act (ERISA) still requires fiduciaries to choose “prudent” investments, meaning employers will need to justify the inclusion of volatile or opaque assets. Legal experts say the order could influence how federal agencies interpret the rules, but it won’t override decades of court precedents on fiduciary duty.

For now, employers remain cautious due to the risk of lawsuits over imprudent or overly expensive options. Crypto in 401(k)s remains rare, though large firms like BlackRock are already exploring target-date funds with alternative assets.

Binance artners with Spain’s BBVA to bolster asset security

Binance is teaming up with Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second-largest bank, to give customers the option of storing their assets with a regulated custodian rather than directly on the exchange.

The arrangement is designed to reassure investors after Binance’s US$4.3 billion fine from US regulators in 2023 over anti–money laundering failures.

With BBVA acting as an independent custodian, customer funds would remain secure even if Binance faced hacking, insolvency, or further regulatory action. The partnership leverages BBVA’s strong reputation for compliance and innovation, aiming to encourage more cautious investors to engage with crypto.

The move also follows leadership changes at Binance, including founder Changpeng Zhao’s resignation and brief prison sentence, as the company works to repair its image.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Stock

    In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

    Latest News

    President Joe Biden travels to Triangle, Virginia, Monday to mark Earth Day, where he’ll unveil $7 billion in grant funding for solar power under...

    Stock

    Major equity indexes rose on Friday after a selloff that hit the Technology sector especially hard. But this doesn’t necessarily mean that everything is...

    Editor's Pick

    In the final three weeks of the presidential race, former president Donald Trump and his advisers have attacked one particular foe more than three...

    Disclaimer: Dealwithbiz.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Dealwithbiz.com