Banking, payments, tokenization and financial markets.
Crypto treasury firms risk repeating the mistakes of the dotcom bubble, says Ray Youssef, with many likely to collapse under mismanagement and debt. While hype drives over-investment, companies with disciplined risk management and blue-chip assets could weather downturns and emerge stronger.
Eric Trump says stablecoins could “save the US dollar,” pointing to his family’s USD1 token under World Liberty Financial. While supporters argue stablecoins may strengthen the dollar’s global reach, critics warn of conflicts of interest and financial stability risks tied to the Trump family’s direct involvement.
Bitfinex-backed blockchain Stable has secured support from PayPal Ventures to integrate the PYUSD stablecoin onto its network. The move could expand PYUSD’s adoption in emerging markets while boosting Stable’s role as a settlement-focused blockchain “designed for USDT.”
Kraken has partnered with Trust Wallet to expand access to Backed’s tokenized equities, xStocks, across multiple blockchains. While the exchange claims a potential reach of 200 million users, regulatory restrictions mean availability will be limited in key markets such as the U.S., U.K., and Canada.
Spot Bitcoin ETFs recorded $642 million in inflows and Ether ETFs added $405 million in a single day, signaling growing institutional appetite for crypto. With BlackRock exploring tokenized ETFs, the push for broader adoption continues to accelerate.
Coinbase researchers say the era of “easy money” for crypto treasuries has ended, pushing firms into a competitive phase that could ultimately strengthen markets. They downplayed seasonal myths like the “September effect” and predicted Fed rate cuts would give crypto “room to run” into Q4.
RWA tokens jumped 11% this week as total tokenized asset value surpassed $29 billion, nearly doubling since January. With Ethereum leading the space and BlackRock exploring tokenized ETFs, institutional adoption of real-world assets is accelerating rapidly.
A UK government petition calling for a pro-innovation blockchain and stablecoin strategy has gained traction after Coinbase urged its users to sign. The petition seeks stablecoin regulation, blockchain adoption in government, and a dedicated crypto policy leader. It has passed 5,000 signatures and needs 10,000 for an official response, with 100,000 triggering a parliamentary debate.
A new Ethereum token standard, ERC-7943, has been introduced to address industry fragmentation in real-world asset (RWA) tokenization. Proposed by Brickken co-founder Dario Lo Buglio, the standard provides a minimal, vendor-agnostic interface for compliance that works across Ethereum layer-2s and EVM chains. Backed by multiple Web3 and fintech firms, ERC-7943 aims to make tokenized assets easier to integrate while meeting institutional compliance needs.
Bubblemaps has alleged the largest Sybil attack in crypto history on MYX Finance’s airdrop, flagging 100 wallets that claimed $170 million worth of MYX tokens under suspicious conditions. MYX denied wrongdoing, citing trading activity and anti-Sybil measures, but Bubblemaps dismissed the response as vague. The case highlights growing concerns over large-scale airdrop farming operations, such as massive phone farms used to exploit token giveaways.
Binance has teamed up with Franklin Templeton to launch tokenization ventures, combining securities with blockchain-based trading infrastructure. The collaboration aims to boost efficiency in settlement, collateral management, and portfolio construction while expanding institutional access. Binance will provide its global reach, while Franklin Templeton contributes tokenization expertise.
The Reserve Bank of India (RBI) is holding back on comprehensive crypto regulations, warning that formal rules could legitimize digital assets and create systemic risks. While India currently imposes a 30% tax on crypto gains and strict registration requirements for exchanges, it still leads the world in crypto adoption, according to Chainalysis. Despite strong adoption metrics, officials and industry leaders say India faces a paradox between rising interest and limited real-world usage.
HSBC and ICBC are preparing to apply for stablecoin licenses under Hong Kong’s new regulatory regime, which took effect on Aug. 1. Reports suggest ICBC and Standard Chartered are likely to receive first-round approvals, giving them a head start. The licensing framework sets strict requirements for issuers, making unlicensed stablecoins illegal for retail investors. Regulators have also warned that speculation around the rollout increases the risk of fraud, urging investors to remain cautious.
The U.S. Senate has added a clause to its crypto bill clarifying that tokenized stocks remain classified as securities, ensuring they fit within existing financial frameworks. The Responsible Financial Innovation Act of 2025 also splits oversight between the SEC and CFTC, with votes expected in the coming months. Meanwhile, over 100 crypto firms, including Coinbase and Ripple, have urged lawmakers to protect developers and non-custodial service providers, warning that unclear rules are driving talent out of the U.S.
Despite recent ETF outflows, Ethereum bulls remain optimistic. BitMine chairman Tom Lee reaffirmed his $60,000 ETH prediction, while treasury firms now hold nearly $15.5 billion worth of Ether. Santiment data also shows whales have increased their holdings by 14% since April, signaling strong long-term confidence.
StablecoinX has expanded its financing for Ethena’s ENA treasury to $890 million, bolstering liquidity and strengthening support for the growth of the Ethena ecosystem. The move positions StablecoinX as a key player in backing Ethena’s stablecoin strategy and long-term sustainability.
Ondo Finance, in partnership with Chainlink, has launched its Ondo Global Markets platform, bringing over 100 tokenized U.S. stocks and ETFs onchain. The platform, live on Ethereum, is currently available to non-U.S. investors and is being promoted as “Wall Street 2.0.”
Traditional banks are expanding into crypto custody. Deutsche Bank plans to launch a digital assets custody service in 2026 with Bitpanda, while Citigroup is considering custody and payment services as regulatory shifts make the sector more accessible.