Stablecoin issuer Circle has applied to establish a national trust bank in the U.S., marking a major step following its blockbuster IPO that valued the company at nearly $18bn earlier this month.

If approved, Circle would become the second crypto firm to receive a federal charter—after Anchorage Digital Bank—enabling it to act as a custodian for its own reserves and hold crypto assets on behalf of institutional clients. Unlike traditional banks, the charter would not permit Circle to accept cash deposits or issue loans.

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Texas Governor Greg Abbott signed a bill into law allowing Texas residents to use gold and silver as legal tender for “day-to-day financial transactions” starting in May 2027.

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The U.S. stock market continues to break records, with the S&P 500 closing above 6,200 points for the first time in history. Q2 2025 was the index’s strongest quarter since 2023.

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Bloomberg ETF analysts James Seyffart and Eric Balchunas estimate a high chance that the SEC will approve spot ETFs for several altcoins this year:

⚫ Litecoin (LTC): 95%
⚫ Solana (SOL): 95%
⚫ XRP (XRP): 95%
⚫ Dogecoin (DOGE): 90%
⚫ Cardano (ADA): 90%
⚫ Polkadot (DOT): 90%
⚫ Hedera (HBAR): 90%
⚫ Avalanche (AVAX): 90%

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Bitcoin has made history with its highest monthly close ever, finishing June at $107,358.

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Binance now accounts for 87% of global taker futures volume, solidifying its dominance in the market, while OKX, Deribit, BitMEX, and Bybit combined make up just 10%.

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Deutsche Bank plans to launch a digital asset custody service in 2026, partnering with Bitpanda Technology Solutions and continuing its collaboration with Taurus SA.

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Upbit’s parent company Dunamu has confirmed a partnership with Naver Pay to support a new KRW stablecoin payment initiative.

Naver Pay will lead the project, with Dunamu providing technical and operational backing.

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DDC Enterprise has closed $528m in financing to support its corporate Bitcoin treasury strategy, making it one of the largest BTC-focused raises by a NYSE-listed firm.

Backed by Anson Funds and others, the company plans to use the funds to aggressively accumulate Bitcoin and position itself among the world’s top corporate holders.

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The SEC is reportedly in the early stages of developing a generic listing standard for token-based ETFs in collaboration with exchanges.

The proposed framework would allow tokens that meet certain criteria—potentially including market cap, trading volume, and liquidity—to bypass the 19b-4 process, streamlining approvals and reducing regulatory paperwork.

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Donald Trump’s $3.3tr tax and spending cut bill passed the Senate in a 51–50 vote, with Vice President JD Vance casting the tie-breaker after three Republicans voted against it.

⚫The bill includes $4.5tr in tax cuts and $1.2tr in spending cuts
⚫Branded the “One Big Beautiful Bill,” it consolidates Trump’s full legislative agenda
⚫Senate Majority Leader John Thune called it “a team effort”
⚫The Bloomberg Dollar Spot Index jumped to a session high following the vote

The bill now heads to the House for consideration.

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A U.S. judge has ruled that Celsius’s lawsuit against Tether over a $4bn Bitcoin liquidation can proceed, allowing key claims of breach of contract and fraudulent transfers to move forward.

The court found sufficient domestic ties to reject Tether’s jurisdictional challenge, despite its offshore incorporation.

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The European Central Bank (ECB) has approved two initiatives to explore the use of central bank money for settling transactions on distributed ledger technology (DLT) platforms.

A short-term project, “Pontes,” will connect DLT platforms with the Eurosystem’s TARGET services by Q3 2026, while a longer-term plan, “Appia,” aims to support global DLT operations and further research.

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Cloud design platform Figma has filed for an IPO and disclosed $69.5m in spot Bitcoin ETF holdings as of March 31, 2025.

In May, its board approved a $30m Bitcoin investment plan, starting with a matching USDC purchase for conversion.

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Coinbase has acquired token management platform Liquifi, expanding its infrastructure for token distribution, vesting, and tax management.

This marks Coinbase’s fourth acquisition in 2025, following deals in crypto advertising, privacy-focused chains, and derivatives platforms—signaling an aggressive push to broaden its product ecosystem.

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Bit Digital has raised a total of $162.9m through a public share offering to build an Ethereum treasury, marking its strategic exit from Bitcoin mining.

The company already holds 24,434 ETH ($59.8m) and plans to convert an additional 417.6 BTC ($44.9m) into ETH soon.

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Ripple has applied for a U.S. National Bank License, signaling plans to operate as a federally regulated trust bank.

The license, issued by the Office of the Comptroller of the Currency (OCC), would allow Ripple to offer banking services at the national level—expanding its regulatory footprint in the U.S.

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BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed its flagship S&P 500 ETF (IVV) in annual fee revenue — $187.2m vs. $187.1m.

⚫IBIT has attracted $52bn in net inflows since January 2024
⚫It accounts for 96% of all Bitcoin ETF inflows
⚫IBIT now holds over 55% of the total assets in the Bitcoin ETF category

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Donald Trump has reportedly earned $620m from cryptocurrency ventures in just a few months—far surpassing the $34m earned from real estate licensing deals over the past year.

This marks a major shift in the Trump family’s wealth structure, with crypto now generating income faster than their traditional real estate operations. Analysts note that most of these Trump-linked crypto assets trade based on political branding, not fundamentals.

Key revenue sources:
⚫World Liberty Financial: token sales generated $550m, with $390m going to the Trump family
⚫TRUMP memecoin: Trump family controls 80% of the supply
⚫USD1 stablecoin: projected to deliver $100m in revenue this year
⚫Trump National Doral: where luxury condo approvals increased property value from $35m to $1.5bn
⚫American Bitcoin: preparing for a SPAC IPO with a $3bn+ valuation despite holding only $120m in assets

Notable figures involved:
⚫Binance founder CZ and Justin Sun serve as advisors to World Liberty Financial
⚫Eric and Donald Trump Jr. are active participants in global crypto events

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The first spot Solana staking ETF, SSK, launched on the Cboe exchange and ended its first day with $33m in volume—ranking in the top 1% of all ETF launches.

It outperformed the Solana futures ETF (SOLZ), which did $1m on Day One, and began with $25m in seed assets, already making it larger than SOLZ.

While volume surpassed XRP and SOL futures ETFs, it remains below the debut levels of Bitcoin and Ethereum spot ETFs.

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