Gate Research: Trump Signs Crypto-Friendly Banking Order | SEC and Ripple End Legal Dispute

• Market Overview: On August 7, the crypto market extended its rebound. BTC briefly touched 117,600 USDT, maintaining its short-term uptrend, while ETH led major tokens by breaking above 3,900 USDT with strong trading volume. The Fear & Greed Index rose to 74, reflecting improving market sentiment.
• Top Movers: PENDLE surged 28.4% as its “kHYPE” yield pool on HyperEVM became the first to surpass $100 million in TVL, with more native asset integrations planned. ZORA jumped 34.2% after launching a creator economy campaign with Base and collaborating with popular IG account @polcom, fueling narrative momentum. ORCA gained 21.1% following the launch of its Launchpad product Wavebreak, which was featured by Birdeye, alongside new governance proposals and ecosystem expansion.
• Alpha Insight: President Trump signed an executive order prohibiting regulators from targeting crypto firms over “reputational risk,” signaling a pro-crypto regulatory stance, and nominated economic advisor Stephen Miran as a Federal Reserve governor. Meanwhile, Hong Kong officially launched its RWA registration platform and initiated three Web3 standards, advancing the tokenization of real-world assets. The SEC and Ripple reached a settlement, confirming that XRP is not a security in secondary markets — a key precedent for future token classification.

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