As we navigate the ever-evolving landscape of cryptocurrency and blockchain technology, the past week has presented a number of significant developments that could shape the future of this industry.
President Trump's proposed executive order to protect crypto firms from alleged discriminatory banking practices is a significant development, signaling a potential shift in regulatory attitudes towards the crypto industry. If signed, this order could provide a much-needed boost to crypto firms and conservative organizations that have struggled with access to banking services. This move could also encourage a more inclusive financial environment, fostering innovation and growth within the blockchain sector.
Meanwhile, the controversy surrounding the use of AI recreations of the deceased raises important ethical questions about the intersection of technology and personal identity. As we continue to explore the potential of AI and blockchain technology, it's crucial that we establish clear guidelines to ensure respectful and ethical use of these tools.
In the financial markets, the recent rebound in U.S. stocks and cryptocurrencies, led by gains in the Nasdaq and Russell 2000 indexes, highlights the interconnectedness of traditional finance and crypto markets. This development underscores the need for a strategic approach to risk management, particularly in light of persistent macroeconomic uncertainty.
Chainlink's launch of real-time US equities data stream on 37 blockchains is a significant milestone in bridging the gap between traditional finance and blockchain technology. This development could pave the way for innovative applications such as tokenized stock trading, perpetual futures, and synthetic ETFs, underscoring the growing relevance of blockchain technology in the financial sector.
Lastly, Bullish's attempt at a $4.2B IPO amid policy shifts in the U.S. reflects a more favorable policy environment for crypto firms. This development could signal a shift in institutional attitudes towards crypto, potentially opening up new opportunities for growth and innovation in the industry.
In conclusion, these developments highlight the dynamic and evolving nature of the crypto and blockchain industry. As we continue to navigate this landscape, it's crucial that we remain informed and strategic, focusing on regulatory compliance, risk management, and institutional trends.
The following article summaries have been sourced from Decrypt, CryptoSlate, NewsBTC, and Crypto Briefing. Each summary includes a direct link to the original source.
President Donald Trump is reportedly planning to sign an executive order to protect cryptocurrency companies and conservative organizations from alleged discriminatory banking practices. The order, which could be signed as early as this week, instructs banking regulators to investigate potential violations of equal credit laws, antitrust statutes, and consumer protection regulations in instances where financial institutions have terminated customer relationships. This move is seen as Trump's most significant regulatory response to "Operation Chokepoint 2.0," the alleged systematic denial of banking services to crypto firms and politically conservative customers during the Biden administration.
The proposed order also addresses incidents such as Bank of America's decision to close accounts of a Ugandan Christian organization due to its policy against serving small overseas businesses. It also touches on banks' role in providing information during the January 6, 2021, Capitol riot investigations. The draft order calls on regulators to eliminate internal policies that may have enabled debanking and for the Small Business Administration to review bank partners. Banks have reportedly responded by revising their policies to explicitly prohibit political discrimination and engaging with Republican state officials to demonstrate compliance. Meanwhile, Coinbase continues its legal battles to expose alleged "Operation Chokepoint 2.0" documents.
Former CNN host Jim Acosta conducted an interview with an AI-generated avatar of Joaquin Oliver, a victim of the 2018 Parkland school shooting, as part of a digital campaign for gun reform. The segment, created in collaboration with Oliver’s parents and advocacy group Change the Ref, was released on what would have been Oliver’s 25th birthday. The AI avatar answered questions with responses generated from Joaquin’s past writings. Despite the father's defense of the AI's use as part of their advocacy, the video drew sharp criticism over the ethics of using AI recreations of the deceased in public media.
Critics on social media platforms described the interview as “insane” and “unsettling,” raising concerns about consent, emotional impact, and the potential for misrepresenting the deceased. Some responses, however, expressed sympathy for the parents' attempt to preserve their son’s memory. There were also questions about the ethical boundaries crossed by simulating a conversation with someone who cannot speak for themselves. This comes after a 2024 warning by University of Cambridge researchers that AI recreations of the dead raise serious ethical concerns, calling for clear consent rules, age limits, transparency, and respectful ways to retire digital avatars.
U.S. stocks, including cryptocurrencies, rebounded on Monday, led by gains in the Nasdaq and Russell 2000 indexes. The tech-led rally saw the Nasdaq and Russell 2000 indexes rise by 1.84% and 2.35% respectively, while Bitcoin posted a smaller advance of 0.74%, according to CoinGecko data. The market gains followed a sharp shift in sentiment due to a 258,000 downward revision to May and June jobs data, which has fueled expectations of a Federal Reserve pivot. The probability of a 25 basis point rate cut in September has surged to over 90%, up from 63.1% a week earlier, according to the CME’s FedWatch Tool.
Despite the rebound, analysts remain cautious due to persistent macroeconomic uncertainty and signs of excess across markets. Jake Ostrovskis, Wintermute’s OTC trader, warned of "plenty of signs of froth" and "high levels of risk taking" in both traditional finance and crypto markets. The unresolved U.S.-focused issues that triggered last week's selloff, including President Donald Trump’s abrupt dismissal of Bureau of Labor Statistics Commissioner Erika McEntarfer, continue to add to investor unease. Ostrovskis also noted that options contracts for Bitcoin are reflecting this outlook, with investors positioning for downside protection rather than speculating on a correction.
Chainlink has launched a new product, Data Streams, which provides real-time pricing data for major US equities and exchange-traded funds (ETFs) directly onto blockchain networks. The data streams, which include information on popular assets like SPY, QQQ, NVDA, AAPL, and MSFT, are now available across 37 blockchain networks. This development paves the way for innovative applications such as tokenized stock trading, perpetual futures, and synthetic ETFs.
Data Streams gather real-time data from multiple primary and backup sources, ensuring continuous uptime. This data is processed through Chainlink’s decentralized oracle networks (DONs) and delivered on-chain in a structured format. Each data point is timestamped, allowing platforms to distinguish between fresh and outdated prices, and supports the automatic suspension of trading during market closures. These advancements allow developers to create complex financial products like perpetual contracts, lending and borrowing platforms, and synthetic ETFs. With the real-world asset (RWA) market projected to reach $30 trillion by 2030, this infrastructure is becoming increasingly crucial for security and scalability in tokenized equity markets. Chainlink’s Chief Business Officer, Johann Eid, noted that Data Streams are key in bridging the gap between traditional finance and blockchain technology. Top DeFi protocols like GMX and Kamino Finance have already adopted Data Streams.
Bullish, the institutional crypto exchange backed by Peter Thiel, is aiming for a valuation of up to $4.23 billion in its U.S. initial public offering (IPO), as per a regulatory filing submitted on August 4. The company is offering 20.3 million shares priced between $28 and $31, with the potential to raise as much as $629.3 million. This IPO attempt comes after Bullish's failed merger with a blank-check company in 2021, which was abandoned in 2022 due to regulatory uncertainty. The current IPO attempt is buoyed by a more favorable policy environment, including the recent passage of the GENIUS Act that provides the first federal guidelines for stablecoins.
Bullish, under the leadership of former New York Stock Exchange president Thomas Farley, plans to convert a significant portion of the IPO proceeds into U.S. dollar-backed stablecoins, supported by one or more token issuers. This move aligns with the recent trend among crypto firms to anchor reserves in regulated digital dollars. Despite a $349 million loss in the first quarter of 2025, largely due to mark-to-market declines in its crypto holdings, investors are expected to focus more on the core exchange profitability and operational efficiency. The offering is being led by J.P. Morgan, Jefferies, and Citigroup, with shares expected to trade on the New York Stock Exchange under the ticker symbol “BLSH.”
An independent market analyst known as "Dom" has suggested that South Korea's Upbit exchange may be exerting significant influence over the spot price of XRP, the world's fifth-largest crypto-asset by market capitalization. Dom's analysis, based on on-chain order-flow data, indicates that Korean selling pressure eased at the same time XRP found a local bottom. The analyst posits that the Korean market Upbit may have more control over the XRP price than previously thought, pointing out that the market has slowly staircased up since the selling pressure eased.
Dom's analysis is not a new concept. He has been observing what he refers to as "absurd size" flows on the XRP/KRW pair at Upbit since April. For instance, on 6 May, he noted that 220 million XRP had been net sold since 11 April, equivalent to over $500 million at the time. Upbit's influence is significant as it is one of the world's deepest spot venues, processing $110.2 billion in volume last month alone. This accounted for 6.4% of global exchange turnover, placing it fourth behind Binance, Bitget, and Bybit. Dom's observations suggest that regional exchanges can dominate individual asset flows, even when their share of total crypto activity appears modest. As of the time of reporting, XRP was trading at $3.05, an increase of 4.8% in the past 24 hours.
Barry Silbert, the founder of Grayscale Investments, has returned to the company as chairman, ahead of its planned initial public offering (IPO) in the US. Silbert's return comes after a period of regulatory scrutiny and legal challenges for the company, including a ruling by the US Securities and Exchange Commission (SEC) on spot Bitcoin ETFs, and a lawsuit involving Silbert's parent company, Digital Currency Group (DCG). Despite these challenges, Silbert expressed confidence in Grayscale's future and its leadership team. He will take over from Mark Shifke, who will remain on the board as the company transitions to a publicly traded entity.
In preparation for its IPO, Grayscale has also strengthened its executive team with the appointment of four professionals from traditional finance. These new hires include Diana Zhang as Chief Operating Officer, Ramona Boston as Chief Marketing Officer, Andrea Williams as Chief Communications Officer, and Maxwell Rosenthal as Chief Human Resources Officer. These executives come from firms such as Bridgewater, Apollo, Goldman Sachs, and Citadel, and will report directly to CEO Peter Mintzberg. Grayscale currently manages over $35 billion across a variety of crypto investment products.
Dogecoin, the popular meme coin, has experienced a slowdown in price after a significant run-up in July, mirroring the broader market's downturn. The cryptocurrency has dipped below the crucial $0.2 mark, causing concern among investors. However, despite the current decline, bullish sentiment remains strong, with many anticipating a temporary correction.
Crypto analyst KrissPax suggests that Dogecoin's current price drop is not a sign of defeat, but rather a potential trigger for a bullish trend. The analyst points out that Dogecoin's price is expected to fall below 30 on the 4-Hour Relative Strength Index (RSI) chart, a level that has historically been followed by a recovery. The last time the RSI fell below 30 was in June 2025, which led to a 70% price surge in the following month. If history repeats itself, Dogecoin could potentially rally to $0.34, although this would still be 50% below its all-time high of $0.74, reached in 2021.
However, it's worth noting that Dogecoin's performance this month has been less than stellar. After closing July with a 27.1% gain, the coin has already lost 5.31% this month. This aligns with historical data, as August has traditionally been a bearish month for Dogecoin. If the trend continues, investors could see an average decline of 10% this month. Despite this, Dogecoin maintains support above the $0.2 mark.
A forthcoming executive order from the White House could soon penalize banks that discriminate against crypto and conservative companies. As reported by The Wall Street Journal, the draft order would see bank regulators investigating potential violations of the Equal Credit Opportunity Act, antitrust laws, or consumer financial protection laws by financial institutions. Banks found guilty could face monetary penalties, consent decrees, or other disciplinary measures. The timing of President Donald Trump's signing of the executive order is yet to be confirmed.
This draft order is part of the Trump administration's ongoing efforts to tackle debanking, a practice where banks and financial institutions restrict or sever relationships with crypto businesses and clients allegedly due to political bias. The draft order instructs regulators to eliminate policies that may have led to customer dismissals and directs the Small Business Administration to review the practices of banks guaranteeing agency loans. It also mandates regulators to refer potential violations to the attorney general in certain cases. This move follows Trump's order in January directing agencies to remove regulatory hurdles and expand banking access for blockchain businesses.
The Commodity Futures Trading Commission (CFTC) is considering the possibility of allowing futures exchanges to offer spot trading of Bitcoin and other crypto assets. This move is a part of the CFTC's "Crypto Sprint" initiative, which aims to enhance regulatory clarity, expand oversight of crypto commodities, and deepen collaboration with the SEC to support responsible innovation. The initiative is the first step in implementing recommendations from the President’s Working Group on Digital Asset Markets. Currently, spot crypto trading and futures trading fall under separate regulatory frameworks, with the SEC largely overseeing spot trading, and the CFTC regulating futures derivatives.
The CFTC is seeking public feedback on the regulatory implications and procedures for listing spot crypto contracts on U.S. exchanges. The aim is to unify oversight and create a more cohesive regulatory structure by enabling futures exchanges to list spot crypto contracts under the Commodity Exchange Act on Designated Contract Markets (DCMs). The CFTC will also evaluate potential implications under securities laws, particularly regarding the SEC’s framework for trading non-security assets that may form part of an investment contract. Public comments are open through August 18 and can be submitted via the CFTC website.
France's far-right National Rally party, previously known for its skepticism towards cryptocurrency, has proposed the use of surplus nuclear energy for Bitcoin mining. This marks a significant shift in the party's stance towards digital assets. The proposal was filed by 77 members from the National Rally and the Union of the Rights for the Republic (UDR) parties. The change in tone is noteworthy, considering the bloc had previously advocated for a complete ban on digital assets.
The shift towards crypto began during parliamentary debates on drug trafficking earlier this year. Aurélien Lopez-Liguori, leader of the digital sovereignty study group, began to see potential in repurposing excess electricity, particularly from nuclear plants, for Bitcoin mining. The proposal aims to use surplus energy for profit, with mining operations potentially generating $100-150 million annually per gigawatt of capacity. However, not all members of the National Rally party are in agreement, with some senior figures remaining cautious of the asset class they deem unstable and ideologically incompatible with the party's vision of state-controlled monetary sovereignty.
In contrast, another far-right party led by Éric Zemmour has fully embraced the Bitcoin narrative. Sarah Knafo, a close adviser to Zemmour, delivered a speech at the European Parliament last December praising the potential of decentralized finance and criticizing the European Central Bank for authoritarian overreach. This speech was applauded by El Salvador’s President Nayib Bukele and earned Knafo an invitation to the “Crypto Ball” in Washington this January.
