Crypto weekly is authored by maaria and david blumenfeld

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.39T): -3% / 0%
- BTC ($105,048): -2% / +12%
- ETH ($2,520): 0% / -24%
- SOL ($155): -10% / -18%
- UNI ($6.19): +2% / -53%
- OP ($0.64): -12% / -64%
- Tether Mkt Cap ($153B): 0% / +10%
- USDC Mkt Cap ($61B): -1% / +39%
- BTC / ETH Dominance: 61% / 9%

THIS WEEK IN CRYPTO
- Bitcoin fell along with risk assets as a US appeals court temporarily revived President Donald Trump’s tariffs, hours after a trade court struck them down as unconstitutional. Link. 

- USDC stablecoin issuer Circle filed for an IPO which would value the company around $6.7 billion fully diluted. Link. 

- The SEC dropped its lawsuit against crypto exchange Binance. Link. Link. Link.

- The SEC said staking activities on proof-of-stake blockchains do not constitute security transactions, clearing the way for ETFs to offer crypto staking. Link. Press Release. 

- Higher Ground, the production company founded by Barack and Michelle Obama, are creating a limited 8-episode series about the collapse of crypto exchange FTX. Link. 

- B2B stablecoin volumes have grown to over $3 billion, up from under $100 million in monthly volume at the start of 2023. Link. 

- BlackRock plans to purchase 10% of Circle’s IPO shares. Link. Link. 

- USDT stablecoin issuer Tether holds over 100,000 Bitcoin and more than 50 tons of gold in its treasury reserve. Link. 

- Ross Ulbright spoke about freedom and decentralization at Bitcoin 2025 - his first public experience since being pardoned earlier this year. Link. Link. Speech. 

- Quantum researchers at Google report that breaking RSA encryption, which is used by many bitcoin wallets, may be 20x easier to break than previously predicted. Link. Report. 

- Gamestop purchased 4,710 bitcoin, worth over $500 million at the time, as a treasury reserve asset. The stock fell 10% on the announcement. Link. Link. 

- Trump Media & Tech, the company behind Truth Social, raised $2.44 billion between stocks and bonds to buy Bitcoin for its treasury. Company shares rose over 7% on the news. Link. Link.  

- Czech Justice Minister Pavel Blazek resigned amid criticism that his ministry accepted a gift in Bitcoin from a convicted criminal they later sold for $45 million. Link. 

- Pakistan has allocated 2,000 megawatts of electricity to Bitcoin mining and AI data centers, as the country moves to legalize cryptocurrency and attract foreign investments. Link. Link. 

- A US federal judge overturned 3 criminal convictions of Avi Eisenberg, the trader accused of stealing $110 million from decentralized exchange Mango Markets, citing a lack of jurisdiction given Eisenberg traded from Puerto Rico. Eisenberg is separately serving a four-year sentence for possession of child sexual abuse material. Link. 

- Bored Ape Yacht Club creator Yuga Labs sold the intellectual property of the Moonbirds NFT collection to a gaming company just a year after acquiring it. Link. Link. 

- Layer-1 blockchain Sui passed a governance vote to recover $223 million of funds stolen from decentralized exchange Cetus. Link. 

- Prominent Hyperliquid trader James Wynn had over $100 million of a long BTC position liquidated, though he still holds a 40x leveraged long BTC position worth $167 million. Link. 

- JPMorgan says Ethereum’s recent Pectra upgrades, which improved staking efficiency and enabled faster withdrawals and deposits, did not meaningfully boost activity especially for institutional investors. Link.