Everything web3, crypto, defi, degen
In brief SEC staff greenlit Bitwise’s ETF on Tuesday, but it was immediately paused under a discretionary review rule. Grayscale’s GDLC faced the same setback earlier this month. It then responded with a legal warning. ETF Institute co-founder Nate Geraci called it a “bizarre situation” as procedural uncertainty clouds ETF conversions. The SEC halted another…
In brief An Department of Justice investigation into Kraken co-founder Jesse Powell has been dropped, he said. Feds had raided Powell’s home back in 2023 and seized dozens of devices belonging to him. Powell said on X that the investigation never made sense to him. The U.S. Department of Justice has dropped an investigation into…
In brief XRP set a new all-time high last Thursday, the first time it had done so in over seven years. Members of its passionate fanbase, known as the XRP Army, are angry that they were forced to wait so long. XRP Army soldiers blame the SEC’s multi-year legal battle with Ripple for stunting the…
In brief Legal precedents block Trump from legally firing Powell except for misconduct, not policy disagreements. Trump allies are escalating pressure on Powell, including a criminal referral and threats of early succession. Rate cut speculation may boost crypto in the short term, but long-term instability could pressure risk assets, Decrypt was told. A public clash…
In brief Roman Storm’s lawyers said Monday they may file a motion for a mistrial, due to alleged holes in the prosecution’s case against their client. The U.S. government has so far failed to prove that Tornado Cash was used in some of the cybercrimes recounted by their witnesses at trial, according to Storm’s lawyers.…
In brief Crypto custody firm BitGo confidentially filed for an initial public offering (IPO). The firm was last valued at $1.75 billion following a $100 million fundraise in 2023. If approved, it will join a growing list of crypto firms that have gone public in 2025 like Circle and eToro. Crypto custody provider BitGo confidentially…
In brief CoinDCX confirmed a $44 million hack on July 19 that affected an internal liquidity account, while assuring that customer funds remain safe. The exchange launched a bounty program offering up to 25 percent of recovered funds, with a potential payout of $11 million to those who assist in tracing the stolen assets. The…
In brief The GENIUS Act, now signed into law, gives stablecoin issuers like Ripple a clear regulatory path but is expected to have limited direct impact on XRP’s price. Ripple’s new stablecoin, RLUSD, positions the company to compete domestically with USDC and PayPal USD as a native U.S. liquidity provider. Legal ambiguity around XRP’s classification…
In brief Three states have passed laws enabling Bitcoin reserves to date. Several efforts in other states have failed over concerns about volatility and public fund safety. Proposals are still pending in 17 more states as crypto advocates push for wider adoption. As random companies snap up Bitcoin and Donald Trump hails the creation of…
In brief Tether CEO Paolo Ardoino said his company fully intends to register its flagship USDT stablecoin via the newly-signed GENIUS Act. The company will also likely offer another, U.S.-specific stablecoin in the American market. Circle CEO Jeremy Allaire said he believes his company is nonetheless poised to particularly benefit from the passage of the…
