Hi Investors,
It was another busy week in the digital asset ecosystem, marked by significant regulatory developments, major corporate moves, and portfolio company milestones. From the SEC clarifying liquid staking rules to high-profile partnerships and funding rounds, here’s your roundup of the most important news.
Market Moves
Trump Signs Executive Order Opening 401Ks to Crypto
→ CBS News
Figure Officially Announces It Has Confidentially Filed for IPO
→ Bloomberg
Coinbase Prices $2.6B 0% Convertible Notes (2029 & 2032) with Capped Calls
→ The Block
Circle x Corpay: USDC Embedded into Cross-Border B2B Payments
→ PYMNTS.com
SEC Provides Clarity on Liquid Staking Tokens - $68B Market Gets Regulatory Relief
→ The Block
Standard Chartered, Animoca & HKT officially form Anchorpoint JV to issue stablecoins in Hong Kong
→ CoinDesk
Bullish Files for IPO
→ The Block
CFTC Launches ‘Crypto Sprint’ Initiative to Advance Trump’s Regulatory Roadmap
→ CFTC
SEC Updates Staff Guidance on Stablecoin Accounting
→ The Block
Bo Hines Steps Down as Executive Director of the White House Crypto Council
→ X
Portfolio Headlines
Cipher Mining: July Ops Update (Aug 5) + Q2 Earnings (Aug 7)
→ Cipher
Animoca Makes Strategic Investment in Cool Cats
→ Animoca
Coinbase Adds DEX Trading to U.S. Platform in Push to Become the ‘Everything App’
→ CoinDesk
Yuga Labs Sells Over 5,000 NFTs to Scrap-Metal Billionaire Adam Weitsman
Zenrock Publishes Full July Recap
→ X
Charts of the Week
40% of all blockchain fees are paid to send USDT across nine chains.
Ethereum daily transactions reached a new high, surpassing 2021 peak, as stablecoins and ETH treasuries reignited growth.
Base’s daily token issuance outpaced Solana launchpads from a surge in Zora creator coins.
Solana dApps have generated $1.6Bn in revenue in 1H’25, up 4x from 1H’24.
Industry News
Notable Raises
Bit2Me (Spanish Crypto Broker) Raises $35MM from Tether
→ Bit2me
Build on Bitcoin (BTC L2) Raises $10MM
→ The Block
Mantra (RWA L1) Raises $200MM from Inveniam Strategic Partnership
→ Inveniam
OpenMind (AI/Robotics) Raises $20MM Led by Pantera
→ Openmind
Industry News
Chainlink Creates LINK Token Reserve via Buybacks
→ Chainlink
MetaMask Integrates Sei
→ The Block
Jito Proposes Routing 100% of Block Engine Fees to DAO Treasury
→ CoinDesk
Paxos Settles with NYDFS for $49MM over AML Failures Related to Binance Partnership
→ NYDFS
Jupiter Enables Trading of Tokenized Pre-IPO Stocks
→ X
Phantom Acquires Solana Memecoin Trading Platform Solsniper
→ The Block
Ripple Acquires Stablecoin Platform Rail for $200MM
→ Reuters
Looking Ahead
8/11-8/17: Ethereum NYC
8/12: APT to unlock ~2% of supply worth $53MM
8/12: Circle reports Q2’25 earnings
8/18: Coinbase Derivatives launching nano SOL and nano XRP U.S. perp-style futures
Media & Insights
📄 Research Piece of the Week: Helium
Case Study: Helium Technical Deep Dive
📌 Tweet of the Week: Tad Smith
What Becomes of BTC in a ChatGPT-5+ Super AI World?
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