Keep within the loop with our weekly crypto digest as we get you up to the mark on the most popular tendencies and occasions within the crypto house.
Right here’s what occurred in crypto this week:
President Donald Trump Formally Indicators Crypto ‘GENIUS Act’ Into Regulation
President Donald Trump signed laws backed by the cryptocurrency business, often known as the GENIUS Act, which creates a regulatory framework for stablecoins—a well-liked kind of cryptocurrency tied to the worth of steady belongings, such because the US greenback.
The GENIUS Act establishes preliminary guardrails and client protections for stablecoins, that are tied to belongings just like the US greenback to mitigate worth volatility in comparison with different types of cryptocurrency. It handed each the Home and Senate with broad bipartisan margins.
The brand new legislation goals to bolster client confidence within the crypto business, which has quickly emerged as a major participant in Washington, because of substantial marketing campaign donations and lobbying expenditures. Its passage comes as Trump has repeatedly pledged to make the US the “crypto capital of the world.”
The Trump Media & Expertise Group (TMTG) has amassed a $2 billion stake in Bitcoin and Bitcoin-related securities as a part of its Bitcoin treasury technique.
TMTG introduced that the corporate’s holdings now comprise round two-thirds of Trump Media’s roughly $3 billion in liquid belongings.
Round US$300 million in capital was allotted to an choices acquisition technique for Bitcoin-related securities. The corporate said that it plans to proceed buying Bitcoin and Bitcoin-related belongings, and to transform its choices into spot Bitcoin, relying on market circumstances. The corporate will make the most of these belongings to generate income and doubtlessly purchase further cryptocurrency belongings.
The information comes after Trump signed the GENIUS Act into legislation late on Friday, marking an enormous win for the crypto business.
Coinbase Formally Launches Perpetual Futures Buying and selling In The US
Coinbase has introduced that beginning July twenty first, 2025, US traders may have entry to CFTC-regulated perpetual futures by way of its Coinbase Monetary Markets (CFM) platform.
This initiative brings the world’s most actively traded by-product product to the US crypto market, marking a pivotal second within the digital asset buying and selling panorama.
Traditionally, US merchants have been restricted from collaborating in perpetual futures on account of stringent regulatory constraints. In distinction, worldwide merchants have also used these devices.
Perpetual futures, characterised by increased leverage and the absence of month-to-month expiry, at the moment account for roughly 90% of world crypto derivatives quantity, highlighting their significance in market dynamics.
SEC Chair Paul Atkins Confirms Ethereum Is Not Labeled As A Safety
SEC Chair Paul Atkins said throughout an interview that the company doesn’t view Ethereum as a safety beneath present pointers. He defined that Ethereum is being handled equally to Bitcoin and is, in truth, thought of a commodity.
Atkins stated, “Much like Bitcoin, the SEC has said informally greater than formally that ether just isn’t a safety.” His remarks handle a long-standing uncertainty surrounding Ethereum’s authorized classification, notably as company curiosity in ETH continues to develop.
Whereas not but a proper declaration, this view from the SEC’s management supplies path for companies working within the cryptocurrency sector. Atkins additionally acknowledged Ethereum’s significance throughout the digital asset ecosystem on account of its function in decentralized functions and different blockchain tasks.
JPMorgan Considers Providing Loans Backed By Shoppers’ Cryptocurrency Holdings
JPMorgan Chase is reportedly exploring lending choices secured by purchasers’ cryptocurrency holdings, a major shift for the banking large, which was as soon as vital of digital belongings.
This growth marks a notable change in stance for JPMorgan, with CEO Jamie Dimon beforehand slamming Bitcoin as a ‘fraud’. Now, plans might roll out as early as subsequent 12 months, focusing on Bitcoin and Ethereum as collateral.
Such a transfer by a $4.3 trillion asset supervisor might sign rising institutional belief in crypto. It could immediate different banks to observe, doubtlessly boosting crypto adoption and market liquidity.
FBI Drops Investigation Into Kraken Crypto Alternate Founder
The Federal Bureau of Investigation (FBI) has wrapped up its investigation into Kraken founder Jesse Powell, returning seized gadgets, as reported by Fortune. This indicators no additional motion on the hacking and cyberstalking allegations tied to a nonprofit.
For context, authorities launched the investigation after allegations surfaced in early 2022 that Powell had hacked into Verge’s accounts and blocked entry to key messages, claims that he strongly denied. Powell was faraway from the board of administrators of the Verge Heart for the Arts.
“The FBI’s raid on my home was devastating each personally and professionally,” Powell stated in an announcement, calling Verge’s allegations baseless and defamatory.
PNC Financial institution Companions With Coinbase To Supply Crypto Providers
PNC Financial institution, a significant US monetary establishment, has partnered with Coinbase to supply its banking purchasers direct entry to cryptocurrency companies, marking a major step towards mainstream crypto adoption in conventional finance.
The collaboration will leverage Coinbase’s institutional-grade Crypto-as-a-Service platform to allow PNC’s banking purchasers and institutional traders to purchase, maintain, and promote cryptocurrencies securely by way of PNC’s methods. PNC may even present choose banking companies to Coinbase as a part of the settlement, which goals to construct a extra resilient digital monetary ecosystem.
PNC Chairman and CEO William S. Demchak said the partnership accelerates the financial institution’s capacity to ship revolutionary crypto options, citing rising demand for streamlined digital asset entry on trusted platforms.
Telegram’s Crypto Pockets Goes Dwell To Its 87 Million US Customers
Telegram has rolled out its crypto pockets to 87 million US customers, marking a major step in integrating blockchain expertise into mainstream messaging and doubtlessly boosting crypto adoption with a seamless in-app expertise.
Supported by the TON Basis, the pockets permits customers to ship, obtain, and retailer digital belongings straight throughout the Telegram app, eliminating the necessity for exterior downloads or browser extensions, in accordance with the announcement.
Notably, TON Pockets has already seen widespread adoption outdoors the US, with greater than 100 million international customers activating the service in 2024 alone. Till now, U.S. customers have been omitted, primarily on account of regulatory uncertainty. However that’s beginning to shift, in accordance with TOP CEO Andrew Rogozov, who cited altering laws and rising demand as causes to broaden into the American market.
Closing Ideas
In order that’s it for this week!
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