While retail investors are counting losses from Donald Trump's memecoin, European regulators are warning about the risks of agentic AI for the financial system, and South Africa is clarifying cryptocurrency taxation. We break down the key events of the morning of July 6.
Market: Bitcoin holds above $63,000
Bitcoin (BTC) started the day with moderate growth. As of 07:47 Moscow time, the leading cryptocurrency is trading near $63,253, equivalent to approximately 4,875,105 rubles. Over the past 24 hours, the low was $62,413 and the high was $63,935. Ethereum (ETH) is showing sideways movement at $1,780 (about 137,017 rubles).
In the top 10 by market cap, Hyperliquid shows the best performance over 24 hours (+3.90%) and the week (+15.39%). All coins in the top ten are in the green zone both over 24 hours and over seven days. In the top 100, the 24-hour growth leader is Lighter (+21.66%), and the weekly leader is MemeCore (+116.77%). The largest 24-hour drop was recorded for the token 安定人生 (-4.86%), and the weekly drop for Jito (-11.46%).
Trump's memecoin: nearly a million holders in the red
Data from the analytical platform Nansen paints a grim picture for holders of Official Trump (TRUMP). By the end of June, 988,905 wallets were at a loss — roughly two out of every three buyers. The total losses of retail investors reached $3.8 billion. Meanwhile, less than half a million wallets recorded profits totaling $4 billion — meaning a narrow group of early buyers hit the jackpot.
Recall, the token was launched a few days before Trump's inauguration in January 2025. The memecoin soared above $73 but has since crashed by more than 97% and is currently trading around $1.70. A similar situation is seen with the World Liberty Financial project: 85% of tracked wallets are in the red. Trump himself, according to a financial disclosure, earned over $630 million from the memecoin and about $800 million from the WLFI platform.
European bankers warn: AI is a serious risk
Bank of England Deputy Governor Sarah Breeden stated that agentic AI could amplify volatility during moments of market stress. She questioned whether the market needs "circuit breakers" analogous to stock exchange ones that halt trading if AI models trigger a crash.
European Central Bank President Christine Lagarde called AI technology a "serious risk," especially in terms of cybersecurity, as threats emerge very quickly and protective measures have not yet been found. Earlier, similar concerns were voiced by Nikhil Rathi, CEO of the UK financial regulator, and the Bank for International Settlements.
South Africa: crypto is an intangible asset, not a currency
The South African Revenue Service (SARS) has published a draft clarification on the taxation of crypto assets under current legislation. According to the document, most crypto operations — trading, exchanging, spending — are considered disposal of an asset and may trigger a tax event. A key element is the person's intention: it determines whether they are considered a trader or a long-term investor. Crypto is treated not as a currency but as an intangible asset.
If the rules are adopted, they will affect millions of users — as of 2024, at least 5.8 million residents of the country owned cryptocurrency. The draft is open for public discussion until August 31 and is intended to bring clarity, not to introduce new obligations.
Analyst's comment: While the market consolidates, regulatory signals are becoming increasingly significant. Trump's memecoin story is a classic example of how late retail investors subsidize early insiders. And the discussion around AI in finance is just beginning — and it will directly impact the crypto market with its algorithmic trading.