Crypto Market Update: Ethereum Surges Past $4,000 as Trump Orders Crypto Review for 401(k) Plans
August 8, 2025 – by Giann Liguid and Meagen Seatter
The cryptocurrency market witnessed significant movements early Friday, led by a notable rally in Ethereum (ETH), which surged past the $4,000 milestone, reaching near year-to-date highs. The market optimism coincided with a strong executive order signed by President Donald Trump directing a federal review of the inclusion of cryptocurrencies in retirement plans such as 401(k)s.
Ethereum Tops $4,000 Amid Broad Altcoin Rally
Ethereum started the day priced at approximately $3,956 and jumped to a high near $3,997 before briefly surpassing the $4,000 mark. This price rally, a 3.3% increase over 24 hours, is part of a wider surge among major altcoins.
Other notable altcoin performers include:
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Ripple (XRP): Up 6.1% to $3.24, bolstered by news of Ripple’s $200 million acquisition of Rail, a stablecoin payments platform aimed at expanding Ripple’s cross-border settlement network. This deal targets seamless transactions using stablecoins without requiring businesses to hold cryptocurrencies directly.
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Chainlink (LINK): The LINK token rose as much as 11% following the launch of Chainlink Reserve, a new initiative to accumulate LINK tokens using institutional and on-chain fee revenues.
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Solana (SOL): Increased by 2.8% to trade around $175.34. – Cardano (ADA): Up 2.9%, trading near $0.78. – Sui (SUI): Showing moderate gains with a 0.5% increase to approximately $3.75. —
Bitcoin Holds Steady
Meanwhile, Bitcoin (BTC) exhibited price stability, trading flat over the past 24 hours at around $116,381. The highest valuation noted on Friday was $117,596, with a low of $116,112. —
Trump Executive Order Sparks Enthusiasm for Crypto in Retirement Accounts
In a move signaling a new era for crypto acceptance in the US retirement ecosystem, President Donald Trump signed an executive order directing the Treasury Department, alongside the Department of Labor, to reassess the fiduciary rules governing 401(k) plans. This review is aimed at potentially permitting alternatives such as cryptocurrencies, private equity, and real estate as eligible investment options.
While the order does not change existing laws—specifically, the Employee Retirement Income Security Act (ERISA) which requires fiduciaries to invest prudently—it encourages federal agencies to reconsider prior apprehensions, particularly those established during the Biden administration, which had opposed crypto inclusion in retirement plans over concerns about volatility and risk.
Legal experts caution that any inclusion of crypto assets must still satisfy fiduciary duties to safeguard investors from imprudent or excessively risky investments. Consequently, most employers remain cautious, given potential liability for selecting volatile assets without sufficient justification. However, the order has energized market sentiment, with major asset managers like BlackRock already exploring target-date funds that incorporate alternative assets.
Binance Partners with Spain’s BBVA to Enhance Asset Security
In another significant development, Binance has announced a partnership with Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second-largest bank, to offer customers the option to store their digital assets through a regulated custodian rather than solely on the exchange.
This collaboration aims to restore investor confidence following Binance’s $4.3 billion fine in 2023 by US regulators over anti-money laundering shortcomings. With BBVA acting as an independent custodian, client funds would be more secure, even in the event of hacking, insolvency, or further regulatory challenges faced by Binance.
The partnership leverages BBVA’s longstanding compliance reputation and innovation capacity, thereby seeking to attract more risk-averse investors. The move also follows recent leadership changes at Binance, including the resignation and brief incarceration of founder Changpeng Zhao, underscoring the company’s efforts to rebuild its standing.
Summary
Friday’s crypto market activity reflects a broader shift in both prices and regulatory attitudes. Ethereum’s breakthrough over $4,000 and gains in several altcoins highlight strong market momentum, while President Trump’s executive order signals a potential pivot toward greater institutional acceptance of cryptocurrencies in retirement funds. Meanwhile, partnerships like that between Binance and BBVA emphasize an industry-wide push towards regulatory compliance and investor protection.
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About the Authors:
Giann Liguid is a graduate of Ateneo De Manila University with a background in interdisciplinary studies. He specializes in market reporting across various sectors, including blockchain and finance.
Meagen Seatter is an Investment Market Content Specialist with expertise in technology and life sciences. She combines academic training in psychology and anthropology with practical experience in investment content creation.
Disclosure: The authors hold no direct investment interest in any companies mentioned.