TLDR CryptoJuly 16, 2025

TLDR CRYPTO 2025-07-16

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01MARKETS & BUSINESS

CRYPTO WEEK LEGISLATION HITS SNAG IN US CONGRESS

A procedural vote to advance three key crypto measures, including a stablecoin framework, a token classification bill, and a ban on a U.S. retail CBDC, was blocked by a coalition of conservative Republicans and Democrats, casting doubt on “Crypto Week” ambitions. Speaker Mike Johnson said he would continue negotiations and bring the package back for another vote soon. Shares of Circle and Coinbase fell over 4% and 1.5% respectively on the news before trimming losses.

links.tldrnewsletter.com6 min read

POLYMARKET INVESTIGATIONS END WITHOUT CHARGES

Both the DOJ and the CFTC have formally declined to bring charges against Polymarket after civil and criminal probes into alleged acceptance of US bets, despite a 2022 CFTC settlement and $1.4 million fine requiring the platform to block US users. The investigations – one criminal led by the Manhattan U.S. Attorney's Office and one civil by the CFTC – followed an April raid on CEO Shayne Coplan's apartment but concluded with declination notices this month. Polymarket's handling of over $3.6 billion in presidential-election wagers underscored regulators' initial focus on market scale and cross-border compliance.

cnbc.com7 min read

02INNOVATION & LAUNCHES

DAKOTA: POWERING THE FUTURE OF GLOBAL BANKING

Dakota is building the first globally accessible business financial account leveraging stablecoins, US Treasuries, and traditional rails. The platform lets companies in 100+ countries open accounts, execute SWIFT/SEPA/ACH/wire and stablecoin payments in minutes, issue smart corporate cards, and earn up to 4% yield on balances. Since its launch in 2024, over 500 businesses have processed billions in transactions.

links.tldrnewsletter.com5 min read

BITWISE ADDS PROOF OF RESERVES FOR $BITB AND $ETHW ETFS

Bitwise has launched daily third-party Proof of Reserves verification for its Bitcoin and Ethereum ETFs ($BITB and $ETHW). Each trading day, the auditor confirms onchain balances and reconciles them against outstanding ETF shares, replacing the old method of listing 90+ wallet addresses. Soon, Bitwise will introduce daily CPA-attested reports covering both assets and liabilities, effectively setting a new standard for onchain transparency in public crypto funds.

threadreaderapp.com2 min read

03GUIDES & TUTORIALS

HYPERLIQUID'S L1 BEGINS TO FIND ITS FOOTING

HyperEVM, Hyperliquid's EVM-compatible layer 1, has seen consistent growth in transaction volume, TVL (now 10th among L1s), and developer adoption since its February launch. The CoreWriter upgrade, enabling HyperEVM contracts to write directly to HyperCore's perpetuals and order books, is set to unlock integrated DeFi use cases and drive a surge in applications. Native HYPE gas burns and a dual-block, iterative rollout highlight a measured scaling approach that protects HyperCore's performance. With trading, lending, vaults, and staking poised to co-exist natively across both chains, HyperEVM is transitioning from a sidecar into a core pillar of Hyperliquid's unified financial stack.

galaxy.com35 min read

3 KEY BILLS THAT COULD RESHAPE US DIGITAL ASSET LAWS

Congress has declared July 14-18 as “Crypto Week” to fast-track landmark digital asset bills aimed at solidifying U.S. leadership in blockchain innovation. The GENIUS Act would establish the first federal stablecoin framework, mandating 1:1 dollar backing and monthly reserve disclosures to enable mainstream issuance by firms like Amazon or Walmart. The CLARITY Act draws clear lines between SEC and CFTC oversight based on token decentralization and usage, while offering fundraising safe harbors for early-stage projects. Meanwhile, the Anti-CBDC Act seeks to block a Federal Reserve retail digital dollar to preserve financial privacy, collectively signaling regulatory clarity, boosting institutional confidence, and protecting consumer freedoms.

links.tldrnewsletter.com12 min read

04MISCELLANEOUS

ETHEREUM'S ZK ROADMAP: SCALING L1 TO 10M TPS

Ethereum is pivoting to a zkEVM-based architecture that replaces transaction re-execution with real-time zero-knowledge proof verification, targeting 10,000 TPS on L1 and 10M TPS ecosystem-wide. This shift is powered by breakthroughs like Succinct's SP1 prover, a multi-horizon roadmap backed by the Ethereum Foundation, and innovations such as RISC-V Type 0 zkVMs and FOCIL for censorship resistance. The ultimate goal is decentralized validation on minimal hardware, unlocking on-chain abundance, and obsoleting optimistic rollups.

links.tldrnewsletter.com3 min read

ETHER.FI CASH HITS $14.85M IN SPEND, GROWS 150% IN JUNE

Ether.fi's Cash credit product has crossed $14.85M in total spend since launch, with June alone driving 40% of volume and 1,741 new cardholders. With 3,400+ active users and 400 businesses onboarding, the team is aiming for 40K-100K users by year-end, leveraging deep integration with its yield vaults. The 3% cashback, currently subsidized by Scroll, may be adjusted as interchange fees and vault-linked monetization scale, positioning Ether.fi as a crypto-native challenger to fintech giants like Revolut and Robinhood.