{"id":25971,"date":"2025-08-10T17:58:48","date_gmt":"2025-08-10T14:58:48","guid":{"rendered":"https:\/\/forklog.com\/en\/week-in-crypto-ethereum-breaches-4000-as-ripple-ends-its-sec-battle\/"},"modified":"2025-08-10T17:58:48","modified_gmt":"2025-08-10T14:58:48","slug":"week-in-crypto-ethereum-breaches-4000-as-ripple-ends-its-sec-battle","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/week-in-crypto-ethereum-breaches-4000-as-ripple-ends-its-sec-battle\/","title":{"rendered":"Week in crypto: Ethereum breaches $4,000 as Ripple ends its SEC battle"},"content":{"rendered":"<p>Ethereum returned to price levels last seen in 2021, Salomon Brothers moved to claim \u201cabandoned\u201d bitcoins, a Tornado Cash co-founder was found guilty in the United States, OpenAI released GPT-5, and more from the week.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Ethereum pulls ahead<\/strong><\/h2>\n<p>Although the first cryptocurrency put in a strong showing\u2014rising over seven days from $114,000 to $118,500 (+4%)\u2014market focus fell squarely on Ethereum.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXd--rBei7VoUVI_K3eviLhVqcag4QKLTm6v1AZyiY82C_8kIJk4SIsuWpNzOXqndhtBI9cg63fkmV7vkV_D3bSojPNFC6TKEQUg1J_Yir8RSwv-D8vWLqA1gYsj8z4IqeGisbr4?key=Tz0ZrVuFLVO6Tf7ZEV8Xng\" alt=\"Week in crypto: Ethereum breaches $4000 as Ripple ends its SEC battle\"\/><figcaption class=\"wp-element-caption\">Hourly chart, BTC\/USDT on Binance. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Over the past week ETH <a href=\"https:\/\/forklog.com\/en\/news\/ether-tests-4000\">rose<\/a> almost without pause from $3500 to $4300\u2014up 23%. The token last traded this high in December 2021.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdnxVMapZOJHjDcojgjV09WkGfO-JJWnwCb0rJvDjhlVA4xPXw2v-AxBqp3JZGQLVEFaWAzxIR2AphYfvF12MQw0M43uCTmU_D5vXjs3mUQW3f9lGSXqOk-dKZWyJk_Wbs6pqTaMA?key=Tz0ZrVuFLVO6Tf7ZEV8Xng\" alt=\"Week in crypto: Ethereum breaches $4000 as Ripple ends its SEC battle\"\/><figcaption class=\"wp-element-caption\">Hourly chart, ETH\/USDT on Binance. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>At the time of writing the coin has eased to about $4200. ETH trades just 14% below its all-time high, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">CoinGecko<\/a>.<\/p>\n<p>Ethereum\u2019s price climb came alongside livelier on-chain activity. Daily transaction volume (<span data-descr=\"seven-day moving average\" class=\"old_tooltip\">7 MA<\/span>) is near record levels.<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"420\" frameborder=\"0\" src=\"https:\/\/www.theblock.co\/data\/on-chain-metrics\/ethereum\/transactions-on-the-ethereum-network-daily\/embed\" title=\"Transactions on the Ethereum Network (Daily, 7DMA)\"><\/iframe><\/p>\n<p>The number of validators and the amount of ETH locked in staking continue to rise, reaching 1.1 million and 36.1 million, respectively.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXeSu4cdML9lL3hW-svLi6I15OWY3gEulvty1nLOJs2COfUFIyAvpWl5-U_GUXP4bTYoOdF6AyGx8c3YKrwDbdTs3Bkj3of5b8bX86Dvb_zggf2PCBFBAKsfbmac1JKHLVa9AKESUg?key=Tz0ZrVuFLVO6Tf7ZEV8Xng\" alt=\"Week in crypto: Ethereum breaches $4000 as Ripple ends its SEC battle\"\/><figcaption class=\"wp-element-caption\">Validator count and ETH staked. Source: <a href=\"https:\/\/dune.com\/queries\/1933076\/3188545\">Dune<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Among external drivers, the late-week catalyst was the <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-surges-past-117000-following-trumps-executive-order-on-pension-plans\">signing<\/a> by US president Donald Trump of a new order on retirement savings.<\/p>\n<p>The document directs preparations to allow cryptocurrencies, private equity and other alternative assets in 401(k) plans.<\/p>\n<p>Among the top ten by market cap, XRP (+11%), SOL (+11%) and DOGE (+16.9%) stood out.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXeJYin_eGFciqfYodFJrgpKrLc6YyNxk10dbTiPpHlIJJypSWj5vblUkUr2C1jDtdeUsG0XhGOLIDKE5JXJ_T-OfvWjGz4xxDh6f76JUcMsh0zPPCl4xPVczpykEJucSUICza1cRQ?key=Tz0ZrVuFLVO6Tf7ZEV8Xng\" alt=\"Week in crypto: Ethereum breaches $4000 as Ripple ends its SEC battle\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>The total value of the digital-asset market hit $4.02 trillion, while bitcoin\u2019s dominance slipped to 58.6%.<\/p>\n<p>The crypto Fear and Greed Index stands at 69.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXehoFATiVPF6N8GJBWSc2ZMOvs3LcJSyt5Hc2br0wrqn4zQkNpqDa3hpkHEiJafUNUuyphlIIUx1LTF1cRMbtLJlUmFkDD2dUTulGvmcWB9OyK_8ZCoffVU6JeGj2jmFKUNPtD01w?key=Tz0ZrVuFLVO6Tf7ZEV8Xng\" alt=\"Week in crypto: Ethereum breaches $4000 as Ripple ends its SEC battle\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">alternative.me<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Claims on other people\u2019s bitcoins<\/h2>\n<p>A company operating under the Salomon Brothers brand <a href=\"https:\/\/forklog.com\/en\/news\/salomon-brothers-claims-rights-to-abandoned-bitcoin-wallets-via-op_return\">said<\/a> it intends to appropriate bitcoins from \u201cabandoned\u201d wallets. It sent notices via OP_RETURN to addresses it believes fall into this category.<\/p>\n<p>The group says it aims to protect the funds from criminals and \u201crogue states\u201d. Its legal basis is the \u201cdoctrine of abandonment\u201d\u2014assets inactive for 14 years may be deemed ownerless.<\/p>\n<p>Wallet owners have been given 90 days to prove ownership by making a transaction or submitting a form on the website. How the firm would gain access to the \u201cabandoned\u201d assets remains unclear.\u00a0\u00a0<\/p>\n<p>The initiative sparked lively debate. Some suggested a link between Salomon Brothers and the self-proclaimed bitcoin creator Craig Wright.\u00a0<\/p>\n<p>In comments to ForkLog, experts <a href=\"https:\/\/forklog.com\/en\/news\/salomon-brothers-initiative-deemed-an-attack-on-bitcoin\">called<\/a> the idea unworkable, both technically and legally. Web3 researcher Vladimir Menaskop argued that bitcoin cannot be treated as \u201cnational\u201d property and that blockchains require a new body of international law that does not yet exist.<\/p>\n<p>Economist-<a href=\"https:\/\/forklog.com\/en\/news\/freedom-the-mother-of-order\">libertarian<\/a> Yevgeny Romanenko saw in Salomon Brothers\u2019 move an attempt to test the US court system and \u201capply the rules of the old world to the new\u201d.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAre they hoping to \u2018stake a claim\u2019 to these rights for the future? So that later, when these bitcoins are moved by their true owners and surface somewhere, lawyers accuse the new owners of theft? This is an attempt to seize bitcoins through the court system,\u201d he suggested.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">What to discuss with friends?<\/h2>\n<ul class=\"wp-block-list\">\n<li>The CrediX team <a href=\"https:\/\/forklog.com\/en\/news\/credix-team-disappears-following-4-5-million-hack\">vanished<\/a> after a $4.5m hack.<\/li>\n<li>New Trump tariffs <a href=\"https:\/\/forklog.com\/en\/news\/trumps-new-tariffs-impact-bitcoin-miners-in-the-us\">hit<\/a> US bitcoin miners.<\/li>\n<li>TON <a href=\"https:\/\/forklog.com\/en\/news\/ton-drops-8-following-verb-technologys-reserve-announcement\">slumped<\/a> 8% after Verb Technology announced a reserve.<\/li>\n<li>Institutions <a href=\"https:\/\/forklog.com\/en\/news\/institutional-investors-increase-ethereum-purchases-for-staking-and-risk-hedging\">increased<\/a> purchases of Ethereum for staking and risk hedging.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">An end to a years-long dispute<\/h2>\n<p>Ripple and America\u2019s Securities and Exchange Commission (SEC) <a href=\"https:\/\/forklog.com\/en\/news\/sec-and-ripple-conclude-legal-battle-xrp-price-rises-by-11\">filed<\/a> a joint notice with the Second Circuit Court of Appeals to abandon further appeals, ending a legal fight that lasted almost five years.<\/p>\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXf7AueiCuXb3AI4HQMlJnY2FptNn2MPpvnGRMQDbFW1HWHTxOZ548LwFklfVOAQUpNl3mnVH6LQRGp3qwO8IdUnDAZW68ISPYJbNi5ZzCueNcgu-72tlIcpx6UPZRDLZPG1cn2Ozw?key=Tz0ZrVuFLVO6Tf7ZEV8Xng\" alt=\"Week in crypto: Ethereum breaches $4000 as Ripple ends its SEC battle\" style=\"width:507px;height:auto\"\/><figcaption class=\"wp-element-caption\">Statement by Ripple and the SEC. Source: <a href=\"https:\/\/x.com\/FilanLaw\/status\/1953565962810093785\">X<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cEnd of story\u2026 Now we can get back to work,\u201d wrote the blockchain firm\u2019s chief legal officer, Stuart Alderoty.\u00a0<\/p>\n<\/blockquote>\n<p>The SEC sued Ripple in December 2020, accusing it of illegally selling XRP. In 2023 judge Analisa Torres ruled that token trading on exchanges did not violate the law. However, offering the cryptoasset to institutional investors breached securities rules.\u00a0<\/p>\n<p>Ripple <a href=\"https:\/\/forklog.com\/en\/news\/court-reduces-ripples-fine-from-2-billion-to-125-million\">was fined<\/a> $125m, though the regulator had sought $2bn. A series of appeals followed.<\/p>\n<p>After Donald Trump\u2019s victory in the US presidential election and a leadership change at the Commission, the parties agreed to end the dispute. In June 2025 Ripple and the SEC <a href=\"https:\/\/forklog.com\/en\/news\/xrp-rises-5-following-ripples-legal-decision-with-sec\">asked<\/a> the court to scrap the fine and the ban on offering XRP to large players, but Torres <a href=\"https:\/\/forklog.com\/en\/news\/court-rejects-ripple-and-sec-settlement\">rejected<\/a> the request.\u00a0<\/p>\n<p>On August 7 the company and the regulator filed a final joint statement withdrawing their appeals.\u00a0\u00a0<\/p>\n<p>On the news, XRP jumped 11%, from $3 to $3.3, before easing to $3.15.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXcI0HzfBn3lhiixYLPvZmbV7oQAl_Fhw1yQ1cWyPzDTG9OtnSogm2TP64ztjbiLp0YIYMM9kJ3w6Mc6sSl9gCfshjiTP8hNLhE-R33EzDH08PeEF6MRjrAPm5G5zzuxkfqjwJcA?key=Tz0ZrVuFLVO6Tf7ZEV8Xng\" alt=\"Week in crypto: Ethereum breaches $4000 as Ripple ends its SEC battle\"\/><figcaption class=\"wp-element-caption\">Hourly chart, XRP\/USDT on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3AXRPUSDT\">TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">A new GPT<\/h2>\n<p>On August 8 OpenAI <a href=\"https:\/\/forklog.com\/en\/news\/openai-unveils-flagship-ai-model-gpt-5\">launched<\/a> a new flagship AI model that will power the next generation of ChatGPT.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdLDrNU8KfKWw4Ck_dG0B1YhKfyyFKJonh0kRxPB0uPuI_spBxMqUvkzOGThZGapOMz-brr7dHSEeVBENg0CTjZ-yjAjjwROLMnptr3smm2nZ7cOY6zRrAsPJMu1GstwH5FJWKSEQ?key=Tz0ZrVuFLVO6Tf7ZEV8Xng\" alt=\"Week in crypto: Ethereum breaches $4000 as Ripple ends its SEC battle\"\/><figcaption class=\"wp-element-caption\">Source: OpenAI.<\/figcaption><\/figure>\n<p>GPT-5 is the first \u201cunified\u201d model combining step-by-step reasoning with rapid responses. The chatbot can act on a user\u2019s behalf\u2014building software applications, navigating calendars or compiling research reports.<\/p>\n<p>The new model is available to users without a subscription, with limited quotas.\u00a0<\/p>\n<p>OpenAI positions GPT-5 as state of the art in several areas, ahead of Anthropic, Google DeepMind and xAI on many metrics, but behind in some.<\/p>\n<p>On the SWE-bench Verified coding test it scored 74.9% on the first attempt, edging Claude Opus 4.1 (74.5%) and Gemini 2.5 Pro (59.6%).\u00a0<\/p>\n<p>But on Humanity\u2019s Last Exam\u2014assessing maths, humanities and the natural sciences\u2014GPT-5 with extended reasoning scored 42%, versus 44.4% for Grok 4 Heavy.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXcCxWLhu2IQ8JuNaRH2o2VViYFhZpxnOO6b6taTN4VrzWYEhKr7QJDL8sbAYxkiN2oKO1KSiG8URWrJXjAE97LTK-z2UmDx_brtMnDvnVx4ShxdeH6yy89fpXDYR8cAXI5K6LrNKg?key=Tz0ZrVuFLVO6Tf7ZEV8Xng\" alt=\"Week in crypto: Ethereum breaches $4000 as Ripple ends its SEC battle\"\/><figcaption class=\"wp-element-caption\">Source: OpenAI.<\/figcaption><\/figure>\n<p>OpenAI says the new model is safer: it hallucinates less and is better at spotting bad actors.<\/p>\n<p>Other updates include:<\/p>\n<ul class=\"wp-block-list\">\n<li>customisable conversational style;<\/li>\n<li>an improved voice mode\u2014more natural and smarter;<\/li>\n<li>chat colour themes;<\/li>\n<li>connections to third-party services such as Gmail and Google Calendar.<\/li>\n<\/ul>\n<p>The community\u2019s reception was muted, if not negative. Many <a href=\"https:\/\/www.bleepingcomputer.com\/news\/artificial-intelligence\/openai-to-fix-gpt-5-issues-double-rate-limits-for-paid-users-after-outrage\/\">complained<\/a> about slow responses, persistent bugs and tighter rate limits even for paying subscribers.<\/p>\n<p><strong>Also on ForkLog:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>The SEC and CFTC <a href=\"https:\/\/forklog.com\/en\/news\/sec-and-cftc-propose-new-rules-for-the-crypto-industry\">proposed<\/a> new rules for the crypto industry.<\/li>\n<li>Bitwise <a href=\"https:\/\/forklog.com\/en\/news\/bitwise-identifies-three-key-cryptocurrency-trends-for-the-coming-years\">identified<\/a> three key crypto trends for the coming years.<\/li>\n<li>HashFlare\u2019s founders <a href=\"https:\/\/forklog.com\/en\/news\/hashflare-founders-plead-for-leniency-in-577-million-fraud-case\">asked<\/a> a court not to jail them over a $577m fraud.<\/li>\n<li>Bloomberg: Chinese regulators <a href=\"https:\/\/forklog.com\/en\/news\/chinas-regulators-clamp-down-on-stablecoin-promotion-reports-bloomberg\">restricted<\/a> the promotion of stablecoins.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">A disappointing verdict<\/h2>\n<p>During the week a US jury <a href=\"https:\/\/forklog.com\/en\/news\/jury-returns-partial-guilty-verdict-for-tornado-cash-co-founder-crypto-industry-dismayed\">found<\/a> Tornado Cash developer Roman Storm partially guilty, agreeing with prosecutors that he conspired to operate an unlicensed money-transmitting business.<\/p>\n<p>On counts related to money laundering and sanctions violations, jurors failed to reach a unanimous verdict. America\u2019s Department of Justice may bring a new case on those charges.<\/p>\n<p>Storm intends to appeal.<\/p>\n<p>Some lawyers warned that a broad reading of money-transmission laws sets a precedent authorities could wield against other crypto protocols.<\/p>\n<p>Variant Fund\u2019s legal chief, Jake Chervinsky, called it \u201ca sad day for DeFi\u201d.<\/p>\n<p>Attorney Zach Shapiro agreed with the \u201cbleak conclusion\u201d but noted a bright spot: Storm does not, for now, face \u201cdraconian\u201d prison terms on money-laundering counts.<\/p>\n<p>Industry figures likewise criticised the decision, calling it a dangerous precedent for open-source software developers.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe are disappointed that the jury did not recognise that Storm should not be held responsible for the actions of third parties he could not control,\u201d said the DeFi Education Fund.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">What else to read?<\/h2>\n<p>Find out the <a href=\"https:\/\/forklog.com\/en\/news\/hyperbitcoinization-at-full-throttle-who-wont-survive-the-bear-market\">weaknesses<\/a> of the \u201cStrategy strategy\u201d and who will not survive the next bear market.<\/p>\n<p>What <a href=\"https:\/\/forklog.com\/en\/news\/the-chat-sovereign\">\u2018sovereign AI\u2019<\/a> is, how it differs from the \u201cglobal\u201d kind, and why it is impossible.<\/p>\n<p>We explain how revaluing gold in US reserves <a href=\"https:\/\/forklog.com\/en\/news\/a-financial-reboot-or-another-crisis\">could hit<\/a> bitcoin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum returned to price levels last seen in 2021, Salomon Brothers moved to claim \u201cabandoned\u201d bitcoins, a Tornado Cash co-founder was found guilty in the United States, OpenAI released GPT-5, and more from the week. Ethereum pulls ahead Although the first cryptocurrency put in a strong showing\u2014rising over seven days from $114,000 to $118,500 (+4%)\u2014market [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1244],"class_list":["post-25971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-weekly-summary"],"aioseo_notices":[],"amp_enabled":true,"views":"89","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=25971"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25971\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/25970"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=25971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=25971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=25971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}