Hello there!
Whew — what didn’t happen in crypto this week? 😅
U.S. lawmakers breathing new life into stalled crypto bills, hackers made off with millions (again), and a popular darknet marketplace just ghosted in what’s probably an exit scam. Oh, and lest we forget, the regulatory shakeups happening left and right around the world. Just another week in crypto, friends!
We’ve rounded up the top stories just for you. Hit subscribe so you never miss any top headlines.
Trump Rallies GOP Support as House Republicans Advance Stalled Crypto Bills
President Trump has secured renewed Republican backing for three key crypto bills, including the GENIUS Act, Anti-CBDC Surveillance Act, and CLARITY Act, after meeting with 11 of 12 GOP holdouts. The bills had stalled after several Republicans withdrew their support due to the lack of a clear ban on CBDCs. Trump’s intervention revived momentum ahead of a critical re-vote, as part of a Republican-led “Crypto Week” push to pass comprehensive cryptocurrency reserve regulations before the August recess.
Following intense negotiations and the longest House vote in history, Republicans reached a deal late Wednesday to advance the stalled crypto legislation. The breakthrough came after leadership agreed to attach a CBDC ban to the National Defence Authorization Act (NDAA), satisfying hardline lawmakers. The House passed the procedural vote 217-212, with Speaker Johnson confirming votes on the GENIUS Act and CLARITY Act could follow soon. While opposition centered on fears that the GENIUS Act could enable CBDCs, leaders opted to delay further amendments to avoid derailing the broader strategic crypto reserve agenda.
Other News Making Waves
- Trump Media has filed trademarks for Truth Social AI and AI Search, aiming to transform its platform into a non-woke media hub. (More)
- Arizona, Texas, and Utah have been named U.S. crypto policy trailblazers, leading in blockchain adoption, task forces, and Bitcoin reserve plans, ahead of “Crypto Week,” which could redefine federal digital asset regulations. (More)
- BigONE has confirmed a $27 million security breach involving server-level manipulation that bypassed account protections; the exchange vows full asset recovery using reserves and enhanced protocols. (More)
- Intellistake Technologies Corp has secured exclusive rights to deploy advanced staking protocols across top DeFi platforms, promising higher yields, reduced slashing risks, and improved cross-chain staking. (More)
- Uniswap Labs President Mary-Catherine Lader has stepped down after four years, transitioning to an advisory role as the platform continues expanding as the top decentralized exchange on Ethereum. (More)
- Kraken has launched a regulated crypto derivatives feature in the U.S., offering futures trading via CME on Kraken Pro, with plans to expand into traditional asset classes like commodities and FX. (More)
- Arcadia Finance suffered a $2.5M exploit on the Base blockchain as attackers drained funds via a contract vulnerability, later bridging assets to Ethereum in a bid to obscure the trail. (More)
- OKX has joined the Global Dollar Network, integrating USDG stablecoin for 60 million users across 180 countries and launching a MiCA-compliant crypto platform in Spain. (More)
- Two LA deputies have been charged in a civil rights conspiracy tied to jailed crypto mogul “The Godfather,” involving abuse of police authority, false warrants, and undeclared income. (More)
- Peter Schiff has called Bitcoin’s rally to $122K a speculative “pyramid,” criticizing corporate buys as unsustainable while urging investors to rotate into silver amid mounting volatility. (More)
- Former Wemade CEO Jang Hyun-guk has been acquitted of WEMIX market manipulation charges in South Korea, though the struggling token still faces regulatory and reputational challenges. (More)
- Abacus Market, once the top darknet crypto marketplace, has vanished in a suspected exit scam, leaving users in limbo after processing up to $400M in transactions since 2021. (More)
- Bank of England Governor Andrew Bailey has warned that stablecoins pose a systemic threat to financial stability, urging banks to pursue tokenized deposits over issuing their own digital currencies. (More)
- Ethereum could reach $10,000, according to EMJ Capital’s Eric Jackson, who says staking-enabled ETFs and Ethereum’s role as a deflationary crypto infrastructure layer are underpriced. (More)
- Coinbase has denied involvement in a Bloomberg report linking Binance and Trump to the USD1 stablecoin, calling the claims misinformation and affirming support for industry-wide crypto innovation. (More)
Around the World: Bold Moves and Crypto Regulations
- Bank of America is preparing to launch a dollar-backed stablecoin, but is taking a cautious approach, prioritizing client demand and regulatory clarity before rollout. (More)
- Thailand’s SEC and Bank of Thailand are launching a nationwide crypto sandbox allowing foreign tourists to convert digital assets into baht for regulated spending, aiming to boost tourism. (More)
- India’s wealthy investors are turning to cryptocurrencies amid weak traditional markets, with platforms like CoinSwitch seeing a rise in institutional demand and portfolio diversification strategies. (More)
- Kazakhstan plans to include cryptocurrencies in its sovereign wealth fund, joining global leaders in adopting digital assets and launching “CryptoCity” to formalize and regulate nationwide crypto activity. (More)
- Chinese authorities have directed state-owned giants like Guotai Haitong and Shanghai Data Group to explore the launch of yuan-pegged stablecoins, signalling a major shift in China’s digital currency policy. (More)
Market Trends: Winners and Losers
Top 5 Gainers 📈
According to data from CoinGecko, these are the five biggest gainers of the week:
- HOPR +48.1%, from $0.03382736 to $0.050119
- Assemble AI +256.3%, from $0.01344298 to $0.04791130
- Graphite Protocol +109.8%, from $1.22 to $2.56
- DOWGE +71.9%, from $0.01907824 to $0.03278799
- The Innovation Game +115.4%, from $0.839934 to $1.81
Top 5 Losers 📉
According to data from CoinGecko, the five biggest losers of the week are:
- Banana For Scale −61.6%, from $0.01855947 to $0.00713690
- Imagen Network −24.1%, from $0.00858519 to $0.00651501
- Viction −26.2%, from $0.374600 to $0.276301
- Resolv −16.3%, from $0.182601 to $0.152918
- MemeCore −54.7%, from $0.787404 to $0.356873
Project Spotlight
Atlas Launches Stablecoin Accounts for Global Crypto-Native Banking
Atlas has introduced stablecoin accounts for businesses and private wealth clients across 150+ countries, enabling them to send, receive, and hold stablecoins like USDC, USDT, RLUSD, and PYUSD as easily as traditional fiat. The platform integrates with over 50 blockchains and 200+ issuers, offering 24/7 global settlement, seamless asset-to-fiat conversions, and up to 11% APY on holdings. With on-chain transparency, institutional-grade controls, and $30M insurance coverage, Atlas redefines banking for the digital age.
Why It Matters:
Atlas bridges the gap between traditional finance and decentralized infrastructure, empowering institutions with secure, compliant, always-on crypto-native banking.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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