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TLDR Crypto

TLDR CRYPTO 2025-07-01

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01MARKETS & BUSINESS

LUMMIS SEEKS WAIVED TAXES ON CRYPTO ACTIVITY IN BUDGET BILL

Senator Lummis has filed an amendment to the Senate's “Big Beautiful Bill” that would exempt small crypto transactions under $300 (capped at $5,000 annually) from capital gains taxes and eliminate double taxation on staking and mining rewards by taxing them only upon sale. The proposal also seeks to clarify tax treatment for crypto lending, wash sales, and charitable contributions in a bid to reduce friction for casual users and align policy with industry practices. While the amendment has not yet been voted on, it is part of the Senate's ongoing “vote-a-rama” process amid negotiations over the nearly 1,000-page spending package.

coindesk.com7 min read

FIVE ARRESTED IN $541M CRYPTO FRAUD CASE

Spain's Guardia Civil, with support from US, French, and Estonian authorities, arrested five individuals in connection with a cryptocurrency investment fraud scheme that duped over 5,000 victims out of approximately €460 million. The suspects were detained in operations on the Canary Islands and in Madrid, where investigators also executed search warrants. Authorities say the criminal network laundered funds through a Hong Kong–based corporate and banking structure, using global associates, multiple payment gateways, and crypto exchange accounts to receive, store, and transfer illicit proceeds.

cointelegraph.com4 min read

02INNOVATION & LAUNCHES

ROBINHOOD ANNOUNCES L2, TOKENIZED STOCKS

Robinhood is launching tokenized equities for 200+ stocks starting in the EU, offering 24/5 trading and dividend payouts directly in-app, initially on Arbitrum and later its own L2. The company also announced ETH and SOL staking for U.S. users, new crypto-reward auto-purchases tied to its Gold Card, and perpetuals trading for EU users routed via Bitstamp. The push marks a major step toward integrating traditional finance with onchain rails.

threadreaderapp.com2 min read

XSTOCKS NOW LIVE: TOKENIZED STOCKS FOR THE DEFI ERA

Backed's xStocks are now live on Bybit, Kraken, and Solana DeFi, offering over 60 tokenized stocks for 24/7, onchain trading and global accessibility. Bybit and Kraken have joined the xStocks Alliance, while Chainlink's Data Streams provide sub-second, onchain price feeds, and corporate action verification. These tokenized equities plug into Solana's DeFi stack, including Kamino money markets for lending, Raydium AMMs for liquidity provision, Jupiter for aggregation, and Phantom for direct trading, to enable lending, borrowing, fee-earning, and complex structured products. xStocks' neutral, multi-chain design aims to bridge traditional capital markets and DeFi.

backed.fi9 min read

03GUIDES & TUTORIALS

THE HODLER'S FALLACY

Crypto functions as an extractive arbitrage system rather than a traditional investment market, where HODLing rarely pays off – only 3.7% of tokens recover a 75% drawdown, and 86% of large-FDV launches plunge at least 75%. Altcoins largely underperform Bitcoin, and revenue-generating protocols like Hyperliquid, Maple, and Aave are exceptional outliers, not the rule. Venture capital struggles because tokens lack equity-like cash flows and favor early-stage edge that disappears as funds scale. True winners in crypto are market-neutral actors that systematically extract value regardless of price direction.

mirror.xyz9 min read

HOW TO PROFIT ON PREDICTION MARKETS

There are four proven strategies for trading real-money prediction markets: arbitrage across platforms, reacting quickly to breaking news, live-event trading, and building predictive models. Prediction markets are uniquely attractive because of their low institutional presence, minimal fees, and inefficiencies that offer retail traders a quantifiable edge.

threadreaderapp.com6 min read

04MISCELLANEOUS

CIRCLE APPLIES TO ESTABLISH A NATIONAL TRUST BANK

Circle has applied to the OCC to establish a federally regulated trust bank (First National Digital Currency Bank, N.A.) to oversee USDC reserves and offer custody services to institutions. The move aims to align Circle with requirements under the proposed GENIUS Act and further integrate USDC into the U.S. financial system. CEO Jeremy Allaire framed it as a step toward building market-neutral infrastructure for the global internet financial system.

circle.com2 min read

ROBINHOOD'S TOKENIZED STOCKS EVENT SHAKES TRADFI AND DEFI

Robinhood's “To Catch a Token” event exceeded attendee expectations, with its seamless integration of tokenized stocks, the Robinhood App, Bithumb exchange, and the Robinhood Chain emerging as a key breakthrough. The decision to build on Arbitrum and Ethereum instead of Solana reinforces Ethereum's DeFi dominance while boosting Arbitrum's cultural and financial stake, especially with Arbitrum earning 10% of Robinhood Chain sequencer fees. The event also sparked conversation on access to private markets, permissionless trading, and the relevance of collectives like Optimism, as Robinhood's model shows how financial institutions can own their full tech stack.

threadreaderapp.com3 min read