Trump Signs Executive Order Lifting Banking Restrictions on the Crypto Industry
US President Trump has signed an executive order preventing federal regulators from targeting financial institutions that work with the cryptocurrency sector. A White House statement emphasized that “unbanking” practices undermine public confidence, freeze wages, and impose a heavy economic burden on law-abiding Americans. The order invalidates “reputational risk” as a justification for increased regulation. The move was supported by Republican senators Cynthia Lummis and French Hill, who considered the decision important in terms of transparency and accountability.
US SEC and Ripple Case Ends: Mutual Appeals Withdrawn
The legal proceedings between the US Securities and Exchange Commission (SEC) and Ripple Labs have come to an end. Both parties withdrew their appeals and stated that each would cover their own legal costs. Thus, the 2023 mixed ruling became final. The ruling found that Ripple violated securities laws by selling XRP to institutional investors, but that “dark bid” sales to individual investors did not qualify as securities.
Paradigm, Galaxy, and Other Institutions Support Senate Crypto Bill
Paradigm, Multicoin Capital, Chainlink, Electric Capital, Galaxy, Ribbit Capital, and Tribe Capital submitted a letter of support for the Senate Banking Committee’s proposed crypto market structure bill. The bill differs from the CLARITY Act passed by the House of Representatives in terms of token-based security regulations. Paradigm argues that the Senate’s “utility token” approach is more beneficial for the industry.
Vitalik Buterin: Supports Ethereum Reserve Company Idea but Warns Against Excessive Leverage
Ethereum co-founder Vitalik Buterin has expressed support for the idea of an “Ethereum Reserve Company” that would enable public companies to hold Ethereum. However, he cautioned against excessive leverage, which could create the risk of chain-wide liquidations during price declines. Buterin noted that investors have the discipline to prevent such risks.
SharpLink Gaming’s ETH Holdings Reach 568,000
According to on-chain data, SharpLink Gaming added 21,959 ETH (US$83.96 million) today, bringing its total ETH holdings to 568,000. These assets are valued at $2.215 billion, with $433 million in unrealized gains.
Animoca Brands and ProvLabs Launch RWA Token Exchange NUVA
Animoca Brands and Provenance Blockchain developer ProvLabs have launched NUVA, a platform focused on trading RWA (tokenized real assets). The first products are the interest-bearing US stablecoin YLDS and HELOC tokens representing fixed-rate home equity lines of credit. The goal is to make traditionally illiquid assets accessible on-chain.
Pump.fun Announces Glass Full Foundation to Provide Liquidity for Specific Ecosystem Tokens
Pump.fun has announced the launch of Glass Full Foundation, which will inject liquidity into specific ecosystem tokens. Distribution details have not yet been disclosed.
Trump Nominates Pro-Crypto Stephen Miran to the Fed Board of Governors
Trump has nominated crypto-friendly economist Stephen Miran to fill Adriana Kugler’s vacant seat on the Fed Board of Governors. Miran is known for advocating for the simplification of cryptocurrency regulations.
Bio Protocol Launches V2 and BioXP Point System
The new version allows users to earn points by staking BIO tokens and ecosystem tokens. Points can be used to participate in the sale of new projects. The first BioAgent project will launch on the Base chain in August.
JPMorgan Launches Kinexys-Based On-Chain Repo Solution
JPMorgan has launched an on-chain repo solution that enables cash-for-securities exchanges via its HQLAx platform. Daily trading volume has already surpassed $1 billion.
Chainlink Establishes Strategic LINK Reserve
Chainlink has announced a reserve pool that accumulates LINK from revenues generated by enterprise integrations and on-chain services. Currently, over $1 million worth of LINK is being held, and no withdrawals will be made in the short term.
Ripple Acquires Stablecoin Payment Platform Rail for $200 Million
Toronto-based Rail handles 10% of global stablecoin payments. With this acquisition, Ripple aims to increase the use of the RLUSD stablecoin.
Tether Invests 30 Million Euros in Bit2Me
The investment round, led by Tether Ventures, will support Bit2Me’s expansion plans in Latin America. The company became the first Spanish-language fintech to obtain a MiCA license.
The Smarter Web Company Increases BTC Holdings to 2,100
UK-based The Smarter Web Company has purchased an additional 50 BTC, bringing its total Bitcoin holdings to 2,100.
Net Inflows of $281 Million in Bitcoin Spot ETFs
The largest single-day inflow was $157 million in the Blackrock IBIT ETF.
Net Inflows of $222 Million in Ethereum Spot ETFs
The Blackrock ETHA ETF saw the largest single-day inflow of $104 million.
