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FinCEN has issued a notice urging financial institutions to monitor and report suspicious crypto ATM activity, highlighting increased usage by criminal organizations (e.g., drug cartels) and targeting of vulnerable elderly populations. Lawmakers have responded by introducing legislation to tighten regulation of crypto ATMs, aiming to prevent fraud and ensure operators enforce customer verification protocols.
Ethereum recorded $238 billion in onchain volume in July, a 70% MoM increase and its highest since December 2021. It also hit an all-time record of 46.67 million monthly transactions and 17.55 million active addresses, marking a full onchain revival. With ETH closing July at $3,700, the network's usage and price are both testing multi-year highs, signaling renewed momentum across Ethereum's ecosystem.
Today's LLMs have hit a reasoning plateau. REI is creating a modular “Core” framework that mirrors human cognition by separating language processing, persistent memory, and a dedicated Reasoning Cluster for logic and planning. By orchestrating specialized expert models rather than relying on one giant network, Core enables real-time learning, structured concept formation, and transparent reasoning paths. This architecture promises true adaptive intelligence by learning from each interaction rather than just predicting next words, and greater efficiency compared to brute-force mega-models. REI's onchain tokenomics also make it a uniquely investable, crypto-native bet on next-gen AI research.
Ventuals, built on Hyperliquid, will open a multi-trillion-dollar private markets asset class by letting anyone trade perpetual futures on pre-IPO company valuations with up to 10x leverage and low fees. Each market's price oracle pulls from secondary sale data to reflect real-world valuation, and traders can go long or short using Hyperliquid infrastructure. It is powered by HIP-3, Hyperliquid's protocol for enabling custom perp markets, and represents one of the first practical use cases of the standard. The Ventuals testnet will launch soon, making private startup exposure widely accessible beyond traditional VC circles.
The Bank Secrecy Act (BSA) is outdated as its decades-old data mandates are inefficient, insecure, and incompatible with modern technology. Today's compliance stack requires firms to store and transmit vast amounts of personal data, much of it unread and unused, creating unnecessary risks for users and institutions alike. This legacy model should be replaced with zero-knowledge proofs (ZKPs), allowing users to prove compliance (e.g. age and sanctions) without exposing sensitive info. Congress and Treasury should modernize rules and embrace ZKP-based systems as part of the broader push for crypto regulatory clarity.
Digital assets vary widely, from “digital gold” Bitcoin to Ethereum's multifaceted infrastructure, speculative memecoins to asset-backed stablecoins, so investors must assess each on its own merits. Crypto hasn't replaced traditional payments or become a reliable store of value, but it has endured criticism, seen its market cap soar, and achieved stablecoin transaction volumes on par with Visa. Mainstream finance and shifting geopolitics, including efforts to onshore innovation and foster dollar-based stablecoins, are accelerating crypto's integration into global markets. Beyond price action, blockchain's true impact may lie in forcing a rethink of entrenched financial and geopolitical frameworks, even as criminality, consumer risks, and conflicts of interest emphasize the need for stronger regulation.
Phantom has acquired Solsniper, a high-speed Solana memecoin trading platform, as part of its strategy to evolve beyond wallet infrastructure. Solsniper will continue operating independently, with new features planned. The deal follows Phantom's February acquisition of token/NFT data platform SimpleHash and comes after its $150M Series C led by Sequoia and Paradigm. Phantom is positioning itself as a full-stack Solana ecosystem hub amid volatile but growing memecoin interest.
Ethereum has transformed from an experiment launched by developers in a Berlin loft into a $420 billion platform that serves as the backbone for Wall Street's next generation of finance. Major institutions like BlackRock, Robinhood, and Deutsche Bank build directly on its infrastructure. Stablecoins on Ethereum now process $28 trillion annually, surpassing Visa and Mastercard combined, while tokenized assets from money market funds to stocks are increasingly migrating to Ethereum-based platforms for faster, cheaper transactions with advanced functionality.
Four key factors for finding the right altcoins.
Bitcoin's mining difficulty, a measure of the computing power required to mine the next block, has reached an all-time high of 127.6T hashes.
Blackbird, a restaurant loyalty rewards app that uses crypto as the backbone for stablecoin payments to restaurants, is achieving real-world adoption from non-crypto native users thanks to its intentional design that abstracts crypto away from the end-user experience.
ETH dominance ($ETH.D) is tracking closely to BTC dominance's 2021 pattern.
Circle earned $625M in Q2 interest income from USDC reserves but paid out $332.5M to Coinbase, raising concerns about shrinking margins as Circle adds new distribution partners like Binance. Despite USDC's growing supply (~$63B), analysts flagged stagnant circulation, looming rate cuts, and rising partner payouts as medium-term risks. They also warned that the GENIUS Act's regulatory clarity could invite more competition from giants like JPMorgan and Bank of America.
Arkham Intelligence claims to have uncovered evidence of the theft of 127,426 BTC from Chinese mining pool LuBian in December 2020, which would represent the largest cryptocurrency heist in history at $3.5 billion at the time of theft, now valued at $14.5 billion. The breach went undetected for nearly five years, with neither LuBian nor the suspected hacker ever publicly acknowledging the incident, though Arkham discovered over 1,500 onchain messages from LuBian pleading for the funds' return. The theft likely resulted from weak private key generation that enabled a brute-force attack, with the stolen Bitcoin remaining largely dormant except for a wallet consolidation in July 2024. LuBian controlled nearly 6% of Bitcoin's hash rate in 2020. The scale of this theft exceeds other notorious hacks like Mt. Gox and Bitfinex by nominal value at the time of loss.
Aave V4 will revamp DeFi lending with a “Liquidity Hub” that consolidates all assets into one central pool per chain, eliminating V3's fragmented market inefficiencies. Users interact through modular “Spokes” tailored for use cases like stablecoins (E-Mode), new assets (Isolation), tokenized RWAs, or vault collateral. Each Spoke has customized risk settings and authorization control, while the Hub enforces global accounting and withdrawal limits. The design allows anyone to build custom Spokes that plug into Aave's liquidity boosting composability, efficiency, and rate competitiveness across lending markets.
Justin Drake of the Ethereum Foundation laid out a “lean Ethereum” ten-year blueprint targeting 10,000 TPS at 1 gigagas/sec on Layer 1 and 1 million TPS at 1 teragas/sec on Layer 2, while preserving 100% uptime and decentralization. The plan calls for “bold upgrades” across all L1 sublayers, including Beacon Chain 2.0 for consensus, post-quantum Blobs 2.0 for data, and an RISC-V-based EVM 2.0 for execution, plus hash-based cryptography for quantum resistance. Emphasizing minimalism, modularity, formal verification, and provable security, the vision aims to deliver “performance abundance” under unforgiving continuity constraints.
Financial systems are struggling under pressure. JPMorgan has begun charging for open banking amid regulatory disarray, and autonomous AI agents are trading stocks via browser tabs. A crypto treasury company holding BTC staged 2025's largest IPO, outpacing even Circle, as TradFi investors scramble for indirect exposure. Meanwhile, Ramp raised $500M at a $22.5B valuation just 45 days after its last round, betting on AI-powered finance teams. JPM's partnership with Coinbase reopens card rails, but only through closed deals, not open protocols. It all adds up to a market “mania moment” where innovation is real, incentives are distorted, and systemic risks are compounding fast.
Stablecoin adoption is less about lower fees or faster settlement, and more about solving a multiplayer coordination game. Each transaction touches users, banks, and processors, none of whom want to move first due to switching costs like lost float or operational retraining. To succeed, builders must find wedge use cases where a single actor (like a cardholder) can adopt unilaterally and extract clear value. Stablecoin cards, for instance, grow faster than merchant rails because the user doesn't need to wait for ecosystem buy-in. Incentives, not just infrastructure, ultimately determine stablecoin success.
Paradigm may be the largest $HYPE holder, with ~19.1M tokens worth $765M at $40 p/HYPE. The analysis links a 4.18M HYPE transfer from Wintermute in December, publicly confirmed by Paradigm's Matt Huang, to 10 newly split wallets. Additional bulk withdrawals via FalconX and Gate.io, grouped by timing and structure, further support the theory. The estimated cost basis is ~$16.46/HYPE, implying ~$450M in unrealized gains. Though unconfirmed, the pattern of wallet activity, stealth setups, and ties to the Paradigm-affiliated entity “Sonn” strengthen the attribution. If accurate, Paradigm controls ~2% of total HYPE supply and ~6% of circulating supply.
A CurveDAO member has proposed ending future Curve deployments to new Ethereum Layer 2s, arguing they offer minimal revenue and drain developer resources.
Nasdaq-listed Hyperion (HYPED) is farming Kinetiq's K-Points on Hyperliquid via iHYPE, a liquid staking derivative.
After a lackluster earnings report, Trump Media announced it would be creating a utility token for an upcoming rewards program for the “Truth ecosphere.”
Prominent crypto investor Arthur Hayes sold $13 million of crypto, primarily because he believes the market is pricing in a tariff bill and stalled GDP growth.
The SEC has unveiled “Project Crypto,” a directive to overhaul outdated securities rules and enable onchain trading of tokenized assets without unnecessary intermediaries. Chair Paul Atkins framed it as essential to making the US the “crypto capital of the world,” emphasizing regulatory updates that prevent driving innovators offshore and foster super-app ecosystems. Project Crypto builds on the President's Working Group report, with goals to create a cohesive framework that integrates blockchain technology into mainstream financial markets.
Coinbase reported $1.5 billion in Q2 revenue, up from $1.45 billion a year ago but below the $1.59 billion analysts expected, and saw adjusted EBITDA fall to $512 million from $596 million. Transaction revenue plunged 39% quarter-over-quarter to $764 million, despite Bitcoin and Ether hitting new yearly highs. The stock slid 7% in after-hours trading as waning trading volumes outpaced overall market strength. Coinbase highlighted progress in its institutional infrastructure, staking services, and Base network as strategic growth drivers beyond its core trading business.
Coinbase will roll out an onchain “everything exchange” in the coming months, enabling US users to trade tokenized real-world assets, including stocks, derivatives, prediction markets, and early-stage token sales. VP Max Branzburg says this one-stop shop aims to create a faster, more accessible, and truly global economy by bringing all asset classes onchain. The move positions Coinbase directly against Robinhood, Gemini, and Kraken, which already offer tokenized equities to non-US users.
Visa CEO Ryan McInerney announced multichain, multi-coin stablecoin settlement support on the Visa network, now spanning 4 blockchains and 4 stablecoins. New additions include EURC (euro-backed), USDG, and PYUSD via Paxos, along with support for Stellar and Avalanche chains. This infrastructure enables stablecoin settlement across 25+ fiat currencies globally, positioning Visa as a key layer for tokenized money movement across both banks and fintechs.
Digital Asset Treasury Companies (DATCOs) now hold over $100 billion in crypto – 791,000 BTC and 1.3 million ETH – led by Strategy (MSTR) and several emerging altcoin-focused entrants. They fuel their treasuries through At-the-Market equity programs and PIPE financings, creating an “accretive dilution” loop by raising capital at premiums to NAV and converting it into more digital assets per share. This model depends on persistently elevated equity premiums, and a collapse could trigger a rapid unwind, echoing the 1920s investment trust crashes and potentially pressuring asset prices. Looking ahead, DATCOs are set to diversify into new tokens, adopt hybrid operating models, and expand globally, remaining a potent structural source of buying pressure so long as market and capital-market conditions hold.
Ethereum's second decade is expected to transform the network from a smart contract platform into the foundational “trustware” layer powering global digital asset digitization, commerce, and identity. Institutions like GameSquare are accumulating ETH for its composability and community, while oracle networks and Layer 2s drive scalability and seamless real-world data integration. The protocol's evolution will make onchain interactions as invisible as AI-driven services, embedding Ethereum into enterprise and consumer applications.
Just as SOFR and Fed Funds rates anchor TradFi, DeFi now needs standardized benchmark rates - and Aave is becoming that foundation. With $58B in net deposits and over 50% of DeFi lending market share, Aave's rates reflect true market-wide credit conditions. Protocols like CoinDesk's Overnight Rates (CDOR), Cap, Level USD, and Plasma already use Aave's rates to price capital, route idle assets, or set hurdle yields. Its stability (e.g., only 20bps movement on a $100M deposit) enables floating-rate lending, structured products, and institutional risk management. Aave's dominance makes it DeFi's reference layer for rate discovery, liquidity, and scalability.
Zora has evolved from an NFT minting platform into a fully onchain social app, where every post and profile is a tradable ERC20. Creator coins pair with $ZORA and generate revenue on every trade (over 1.6M coins have been created across 200K+ creators, with total trading volume surpassing $445M). To power this mobile-native UX, Zora uses Privy to embed self-custodial wallets directly into the app, enabling users to onboard via content instead of crypto complexity. With over 4M wallets and 2M+ monthly actives, Zora's model blurs the line between social media and financial protocol, turning followers into participants and content into capital.
Bitcoin gift cards from Fold will start selling at over 400,000 retailers across the United States.
Moonwell's Flagship USDC Vault on Base is yielding a net 10.15% APY, with rates powered by Morpho (+3.05%), WELL (+1.10%), OP rewards (+1.07%), and a native base rate of 5.78%.
Tether is one of the world's largest holders of US treasuries, surpassing both Germany and Italy.
The SEC has approved in‑kind creation and redemption for all spot Bitcoin and Ethereum ETFs, allowing authorized participants to exchange ETF shares directly for BTC or ETH instead of cash, which will streamline liquidity management and reduce transaction costs. This marks the first major crypto‑friendly policy under new Chair Paul Atkins, who has prioritized a fit‑for‑purpose regulatory framework for digital assets. BlackRock, Fidelity, Ark Invest, and other issuers stand to benefit, having filed for this change earlier in the year. The SEC also raised position limits on options for BlackRock's iShares Bitcoin Trust, further enhancing institutional flexibility for hedging and arbitrage.
The White House's President's Working Group on Digital Asset Markets published a 168‑page report endorsing digital assets' potential and proposing a “regulatory Bible” for crypto, covering banking, stablecoins, taxes, illicit finance, and a strategic digital asset stockpile. It urges Congress to affirm self‑custody rights, grant the CFTC oversight of spot non‑security tokens, and direct the Treasury to manage a forfeiture‑funded crypto reserve (including BTC, XRP, SOL, and ADA) without taxpayer cost. The report recommends federal tax guidance tailored to digital‑asset nuances, safe‑harbors for DeFi protocols, and a “fit‑for‑purpose” SEC exemption for token distributions.
JPMorgan Chase and Coinbase have formed a strategic partnership, enabling Chase customers to link their bank accounts directly to Coinbase wallets, transfer Ultimate Rewards points at a 1:1 ratio, and fund Coinbase via Chase credit cards. The bank‑to‑wallet integration and points transfer will debut in 2026, while credit‑card funding is slated for fall 2025. Chase Ultimate Rewards has become the first major credit‑card rewards program to fund a crypto wallet. Both firms say the move will lower barriers to entry, expand consumer choice, and empower customers to manage digital assets more seamlessly.
Coinbase's app now lets eligible users buy crypto with Samsung Pay, eliminating app‑switching and re‑entering payment details. The feature will roll out to select US and Canadian customers over the next month, with full availability soon after. This integration follows Coinbase's PNC Bank partnership and reflects its strategy to weave digital assets into mainstream payment rails. Industry data shows mobile wallets power 35% of online and 21% of in‑store transactions across major markets.
Robinhood's Q2 earnings show across-the-board growth with funded customers reaching a record 26.5M (+10% YoY), while platform assets increased 99% to $279B. Robinhood Gold subscribers hit 3.48M with a 13.1% adoption rate. Retirement assets grew 118% YoY to $19B, cash sweep rose to $33B (+56%), and the margin book jumped 90% to $9.5B. Equity trading volume hit $517B (+112%), and option contracts increased 32% to 515M. Despite a dip in net deposit growth, Robinhood continues to scale aggressively across retail, crypto, and financial products.
Visa reported $10.17 billion in Q2 revenue, but stablecoin settlements amounted to just $200 million. CEO Ryan McInerney emphasized that broader adoption hinges on clearer regulatory frameworks, even as Visa pilots real‑time cross‑border transfers via Visa Direct and programmable finance tools on its Tokenized Asset Platform. The company is also investing in stablecoin infrastructure through BVNK and partnering with Bridge in Latin America to expand service offerings. Analysts note that stablecoin payment activity could exceed 50% within a year as regulations solidify and businesses increasingly leverage stablecoins for remittances and payroll.
As Ethereum celebrates its 10th anniversary, community members reflect on a decade of improbable success, resilience, and reinvention. From Vitalik Buterin's 2013 whitepaper to a $450 billion network powering global finance and commerce, Ethereum has evolved through hacks, hard forks, regulatory attacks, and scaling crises, without betraying its core values. Kraken's Joseph Delong calls its uptime and adaptability “unimaginable victories,” while Consensys' Bill Hughes notes Ethereum could never launch under today's conditions. With institutions like Sharplink Gaming joining the ecosystem, the next decade's challenge is maintaining cypherpunk ideals amid growing mainstream adoption.
For the first time in over two years, Solana is no longer the leading chain for new coins created.
Robinhood's Q2 crypto revenue increased 98% to $160 million as trading volume hit $28 billion, up 32% YoY.
Public companies holding crypto on their balance sheets have seen their collective market cap soar to $160 billion in 2024, up from $90 billion.
Hyperliquid's total trading volume reached $231B in June, passing Robinhood's $149B for the second month in a row.
CoinDCX's CEO Sumit Gupta flatly denied reports that Coinbase is in advanced talks to acquire the Indian exchange, reiterating that the company remains “super focused” on building for India's crypto market. A report from Mint had suggested Coinbase might value CoinDCX at under $1 billion, down sharply from its $2.2 billion 2021 valuation, and noted Coinbase already holds equity in CoinDCX and rival CoinSwitch. Coinbase declined to comment on the rumor, pointing only to its broader mission and ongoing global exploration of build, buy, partner, and invest opportunities.
BitMine, now focused on becoming a major Ethereum treasury, approved a $1 billion stock repurchase program while disclosing 625,000 ETH ($2.4B) and 192 BTC in reserves. Chair Tom Lee said buying back shares may offer a better return than ETH in pursuit of the firm's goal to stake 5% of the ETH supply. BitMine's NAV per share stands at $22.76, and it now ranks among the top publicly listed ETH-holding firms.