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It’s been another eventful week for crypto, with developments ranging from regulatory decisions and market moves to big policy shifts.
The mix of market milestones and political decisions is setting up a busy few months ahead.
Missed anything? Don’t worry. This article is all you need to catch up. Let’s dive in.
President Donald Trump has signed an executive order to stop banks from cutting off customers over political or religious views. The move forces regulators to drop the “reputation risk” rule, which critics say let lenders shut out crypto firms and other lawful businesses.
Trump claims JPMorgan and Bank of America refused his business after his first term both banks deny closing accounts for political reasons. Still, some in the industry welcome the change if it means fewer regulatory pressures.
The $125M fine and restrictions on institutional XRP sales remain, but the regulator has dropped its “Bad Actor” tag. That restores Ripple’s ability to raise funds from accredited investors under Regulation D – provided it files a Form D with the SEC shortly after each sale.
Legal chief Stuart Alderoty called it “the end” of the case, with supporters saying the move clears a key path for Ripple’s bank charter plans.
Roman Storm, co-founder of crypto mixing platform Tornado Cash, has been found guilty of running an unlicensed money-transmitting business by a Manhattan jury. He was cleared of two bigger charges -money laundering and sanctions violations – after the jury couldn’t reach a verdict, resulting in a partial mistrial.
Prosecutors say Storm let groups like North Korea’s Lazarus Group move over $1 billion in stolen crypto. His lawyers insist the tool was built for privacy, not crime. Storm faces up to five years in prison.
President Trump has nominated Stephen Miran, a vocal critic of the Fed’s structure, to fill a vacant board seat until January 2026. The role opened after Governor Adriana Kugler’s surprise resignation. Miran has pushed for more presidential control over the Fed and tougher rules on its regional banks.
His appointment comes as Trump presses for lower interest rates. The nomination heads to the Senate, where Chair Tim Scott wants “transparency” and Elizabeth Warren says she has “tough questions” about Miran’s independence.
“Near term, an interim Fed governor Miran gives Trump the best of both worlds: immediate policy influence without surrendering Fed Chair optionality and leverage,” LHMeyer analyst Derek Tang wrote.
Ethereum has smashed past $4,000 for the first time since December 2024, touching $4,050 on August 8. Traders say this level is a big test as the last time ETH crossed it, it went on to set an all-time high.
This time, corporate treasuries and ETFs are piling in, with BitMine and SharpLink among the biggest buyers. On-chain data shows ETH starting to outperform Bitcoin, a pattern that’s often come before major rallies. All eyes are now on $5,000.
President Donald Trump has signed an order that could change how Americans invest for retirement.
For years, 401(k) savers were limited to stocks and bonds, while the wealthy accessed private equity, real estate, and crypto. The new directive tells the Labor Department and SEC to clear the way for these alternative assets in retirement plans.
The White House says it’s about giving savers more choice, better returns, and a “dignified and comfortable retirement for all Americans.”
The Bank of England has cut interest rates to 4% from 4.25%, its fifth cut since last August. The decision was tight – four opposed, five agreed, and one wanted an even bigger drop.
Inflation is at 3.6%, unemployment is rising, and households are feeling the pinch. Lower rates often lift crypto by boosting liquidity and risk appetite.
Now, attention shifts to the US, where September rate cut odds are above 93% and political pressure on the Fed is building.
The SEC has ruled that liquid staking and related tokens don’t break securities laws, a win for the $68B locked in these platforms. It’s a relief for DeFi players like Lido and Rocket Pool, whose tokens let users stake crypto, keep it liquid, and still earn rewards.
The guidance also hints at potential for US ETFs with staking features. But it’s not law yet – a change in leadership could flip the script.
Bitcoin has gone quiet! The 30-day implied volatility (BVIV index) dropped to 36.5%, its lowest since October 2023 when BTC was under $30K. Now holding between $110K and $120K, price swings are slowing even as the rally continues.
Analysts link the shift to a rise in structured products and call-writing strategies. The trend is similar to Wall Street, where volatility often falls during steady bull runs. This is a sign that crypto’s market mood may be changing.
El Salvador is set to open the world’s first Bitcoin bank in 2025, offering deposits, loans, and payments entirely in BTC. It’s the boldest step yet in President Nayib Bukele’s push to make Bitcoin part of everyday life, after launching the Chivo Wallet and Bitcoin bonds.
The move has drawn IMF warnings over stability risks, but Bukele is betting on crypto-native banking to prove its place in a national economy and the world will be watching.
Here’s a few quick hits you shouldn’t miss!
Vitalik Warns ETH Treasury Firms on Overleverage: Ethereum’s co-founder supports public companies holding Ether, but cautions that excessive leverage could trigger cascading sell-offs and damage the token’s credibility.
China Warns on Crypto-for-Iris Scans: Beijing’s state security agency says some foreign firms are luring users with token rewards to collect iris data, risking identity theft and national security breaches.
Winklevoss Twins Invest in Trump-Linked Bitcoin Miner: Gemini co-founders back American Bitcoin, a mining firm co-founded by Donald Trump Jr. and Eric Trump, deepening their financial ties to the Trump family.
GENIUS Act Fuels $9B Stablecoin Boom: New US law backing fully reserved stablecoins has added $9.11B to the market in 23 days, led by USDe, USDT, and USDS growth.
Philippines SEC Targets Unregistered Crypto Exchanges: Regulators warn against using platforms like OKX, ByBit, and Kraken as new rules require licenses, AML measures, and customer due diligence.
Major shifts to expect ahead
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