TLDR Index
TLDR Crypto

TLDR CRYPTO 2025-07-03

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01MARKETS & BUSINESS

BIT DIGITAL DUMPS BITCOIN FOR $163M ETHEREUM TREASURY PIVOT

Bit Digital raised $162.9 million through a public share offering to expand its Ethereum treasury, marking a full pivot away from Bitcoin mining. The Nasdaq-listed firm plans to convert its 417 BTC into ETH and build on its 24,434 ETH holdings, which were already worth nearly $60 million at the end of Q1. The move reflects a growing trend among public companies using treasury strategies for leveraged exposure.

links.tldrnewsletter.com3 min read

BLACKROCK'S BITCOIN ETF GENERATES MORE REVENUE THAN S&P 500 FUND

BlackRock's iShares Bitcoin Trust generated an estimated $187.2 million in annual fees on $52 billion AUM at a 0.25% management fee, narrowly outpacing the $187.1 million earned by its flagship iShares Core S&P 500 ETF (IVV) despite IVV's $624 billion AUM and 0.03% fee. Launched in January 2024, IBIT has recorded net inflows every month except one, making it the largest spot bitcoin ETF. The fund's higher fee reflects the added complexity of custody, regulatory compliance, and infrastructure required for bitcoin exposure.

coindesk.com5 min read

02INNOVATION & LAUNCHES

CIRCLE LAUNCHES GATEWAY FOR CROSS-CHAIN USDC LIQUIDITY

Circle's Gateway is a new interoperability layer that allows users to access a unified USDC balance across multiple chains in real time. Instead of relying on bridges, users can deposit USDC into a non-custodial contract that syncs liquidity across supported networks like Avalanche, Base, and Ethereum (testnets launching July). The move follows Circle's IPO and banking license application, signaling deeper integration into traditional finance.

links.tldrnewsletter.com3 min read

STABLE LAUNCHES “STABLECHAIN” BUILT FOR USDT PAYMENTS

Stable has launched a dedicated Layer 1 blockchain purpose-built for stablecoin payments, branding itself as the first “Stablechain.” Powered by USDT as native gas, the chain offers gas-free peer transfers, ultra-low fees, sub-second finality, and EVM compatibility. Aimed at users, businesses, and developers, Stable seeks to simplify cross-border payments and unlock stablecoin utility with tools like a social-login wallet, USDT-linked debit cards, and enterprise-grade infrastructure.

links.tldrnewsletter.com4 min read

03GUIDES & TUTORIALS

THE DIGITAL ASSET OVERTON SHIFT

Crypto's fat protocol era, built on public goods and vague token value, is collapsing under its own weight as institutional players embrace profitable, product-first models. Whereas before we had crypto-native builders clinging to tokens and memes, now there is a new class of "Digital Asset" firms deploying practical zk tech, real-world asset protocols, and CEX-native products. The call is clear: pivot from crypto idealism to pragmatic digital asset infrastructure or risk irrelevance.

threadreaderapp.com3 min read

THE REAL THREAT TO HYPERLIQUID

Coinbase plans to launch fully compliant perpetual-style futures for BTC and ETH in the U.S. on July 21, challenging HyperLiquid's de facto American perps monopoly by leveraging its 10 million monthly users versus HyperLiquid's 500,000. However, Coinbase's existing global perps volume and its recent Deribit acquisition still trail HyperLiquid, and its track record of entering new markets raises questions about execution. Decentralized frontends have also begun bridging US traders to HyperLiquid despite regulatory uncertainty, but the biggest looming rival is Robinhood, which boasts 15 million MAUs, deep options-trading experience, and a history of successfully launching new products.

links.tldrnewsletter.com8 min read

04MISCELLANEOUS

SOLANA BOTS AND PUMP.FUN FACE DEEP FREEZE

Trading bot volumes across Solana have plummeted ~75% from May highs, with visible outflows of 100K+ SOL last week and cumulative holdings down 5.26% in two weeks. Simultaneously, Pump.fun volumes continue a multi-month slide, dipping below $100M over the weekend. The once-frenzied onchain trading meta is entering a clear cooldown phase.

threadreaderapp.com2 min read

COINBASE BUYS TOKEN MANAGER LIQUIFI

Coinbase's acquisition of token management platform Liquifi marks its fifth purchase in 2025, following deals for Spindl, Iron Fish's team, Roam, and the industry-record $2.9 billion Deribit takeover. Liquifi, backed by a $5 million 2022 seed led by Dragonfly and used by Uniswap Foundation, OP Labs, Ethena, and Zora, offers cap table tracking, token vesting distribution, and tax withholding tools like Carta. The move advances Coinbase's goal of an end-to-end token lifecycle platform, positioning it closer to Binance-style launchpad offerings and expanding beyond simple trading.

fortune.com9 min read