TLDR CRYPTO 2025-07-17

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HOUSE ADVANCES GENIUS AND CLARITY CRYPTO BILLS AFTER POLITICAL STANDOFF

The U.S. House voted 215–211 to advance the GENIUS Act (a stablecoin regulatory framework already passed by the Senate), potentially sending it to President Trump by week's end. Lawmakers also moved forward on the broader Clarity bill, which defines regulatory roles for the SEC and CFTC, and a third bill to block the Fed from issuing a retail CBDC.

JPMORGAN CHASE WILL GET INVOLVED IN STABLECOINS

JPMorgan Chase will develop both its JPMorgan deposit coin and broader stablecoin offerings to stay competitive with fintech rivals, even though CEO Jamie Dimon questions their appeal compared to traditional payment methods. The bank's limited deposit token for clients is set to expand into universally accepted stablecoins as regulatory clarity improves. Peer institutions like Citigroup and Bank of America are similarly exploring bank-issued stablecoins to modernize payment rails and defend against nonbank challengers. Faster, cheaper settlement compared to legacy systems like ACH and SWIFT underpins this strategic shift.

BASE'S NEXT CHAPTER

Base is evolving from a blockchain into a comprehensive open stack featuring Base Chain (now 10x faster with 200ms block times), Base Build for developers, and the new Base app – an everything app that transforms Coinbase Wallet into a social platform where every post is a coin that can be bought, enabling creators to earn from day one. The ecosystem includes Base Account as a universal sign-in for the open internet and Base Pay for USDC express checkout, launching with Shopify partnership to bring crypto payments to millions of merchants with 1% cashback.

THE BIRTH OF DELPHI INTELLIGENCE

Delphi Digital has officially launched Delphi Intelligence, an AI-focused research platform aimed at surfacing cutting-edge insights across artificial intelligence, robotics, and beyond. Delphi has already invested in over 20 crypto x AI projects, run two AI accelerators, and published foundational research in decentralized AI.

WHY CRYPTO MATTERS

This post outlines 20+ reasons why crypto is transformative, from unlocking borderless, immutable money to enabling human verification, digital ownership, and censorship-resistant cultural preservation. Crypto powers reputation-based gig economies, reduces gatekeeping in finance, and merges privacy with auditability. At its core, crypto creates open systems for experimentation, coordination, and truth, while also funding cryptography and offering flexible, builder-friendly environments.

THE FINAL META

Most long-term crypto participants eventually internalize the market's “zeitgeist,” knowing when to ride consensus narratives and when to plant early contrarian flags. Crypto's cycles swing between orderly narrative-driven building and chaotic degenerate speculation, a pendulum that gradually distills deeper truths. This iterative refinement leads to “speculative maturity,” where collective taste shifts toward tokens backed by tangible revenue mechanisms. In this “final meta,” revenue-oriented tokens with buybacks or distribution flywheels become the sustainable foundation for onchain value.

CITI CEO OUTLINES STABLECOIN AND TOKENIZED DEPOSIT STRATEGY

Citigroup CEO Jane Fraser revealed the bank is exploring stablecoin issuance, reserve management, tokenized deposits, and crypto-fiat ramps. Through Citi Token Services, clients will be able to move assets instantly across hubs like NY, London, and HK without incurring fiat-to-digital conversion costs. Fraser emphasized that the GENIUS Act would level the regulatory playing field for banks to offer real-time, cross-border, multi-bank digital asset solutions with compliance and financing built in.

GRAYSCALE CONFIDENTIALLY FILES DRAFT IPO PAPERWORK

Grayscale has confidentially filed a draft IPO registration with the SEC, positioning itself as the next major U.S. crypto listing following Circle's high-profile debut. The timing remains flexible, but the move taps into renewed Wall Street appetite for digital-asset firms under a pro-crypto administration. Coming off landmark conversions of its Bitcoin and Ethereum trusts into spot ETFs—pushing its AUM past $30 billion—Grayscale will use confidentiality rules to withhold financial details until shortly before launch. Its IPO could set the tone for other heavyweight crypto names like Kraken, BitGo, and DCG considering public offerings.

PRIVACY POOLS ADDS SKY'S USDS IN MULTI-ASSET EXPANSION

Privacy Pools, the Vitalik Buterin-backed zero-knowledge mixer, has integrated Sky's USDS stablecoin, marking its first step into multi-asset privacy pools.

ROGER VER SUES SPAIN TO BLOCK U.S. EXTRADITION OVER $48M TAX CASE

Early Bitcoin advocate Roger Ver is suing Spain in the European Court of Human Rights to halt extradition to the U.S., where he faces charges tied to $48 million in unpaid taxes.

KOREAN EXCHANGE WALLETS ACCUMULATE $96.7M IN $PENGU

Three wallets linked to Korean exchanges Bithumb and Upbit have purchased 945 million $PENGU tokens worth ~$32 million in the past week.

ETHEREUM'S STRATEGIC ROLE IN FUTURE BANKING INFRASTRUCTURE

Future banks will issue stablecoins on the Ethereum L1 and stake ETH to secure the network.