Crypto weekly is authored by maaria bajwa

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($2.69T): +21% / -12%
- BTC ($77,760): +23% / -11%
- ETH ($2,468): +30% / -17%
- SOL ($96): +27% / -23%
- HYPE ($82): +38% / +221%
- COIN ($186): +26% / -18%
- Tether Mkt Cap ($183B): 0% / -2%
- USDC Mkt Cap ($74B): +2% / -3%
- BTC / ETH Dominance: 58% / 11%

THIS WEEK IN CRYPTO
- Bitcoin surpassed $70,000 for the first time in over two months following a risk-on rally after the Treasury announced plans to buy back long-dated US government bonds to push down borrowing costs. President Trump's reaffirmed support for the upcoming crypto legislation known as the Clarity Act also contributed to bullish sentiment for the asset class. Link. Link. Link.

- The SEC proposed exempting certain digital asset offering from securities registration statements, with exemption for offerings up to $5 million and $75 million. Issuers would need to provide financial statements, but would have a safe harbor from the definition of "investment contract" under securities laws. Link. Link. Link. Press Release.

- Crypto's market surge led to a record $2.7 billion liquidation of short positions. Link.

- President Donald Trump said regulators are working to bring decentralized exchange Hyperliquid into the US. HYPE surged 18% on the news. Link. Link. Link.

- Franklin Templeton plans to put tokenized assets inside conventional investment funds in Q4 after receiving regulatory approval from the SEC. The firm will use tokenized money-market funds inside ETFs and mutual funds, either as a holding or as collateral. Link.

- The CFTC chairman said the agency would push forward crypto rules even if the Clarity Act is not passed. The agency is exploring a new type of CFTC-regulated platform that would be called a crypto asset market, which could offer trading on a leveraged or margin basis. Link. Link.

- President Donald Trump hosted crypto executives at the White House and pressed Congress to pass digital asset regulation known as the Clarity Act. Link. Link.

- Bridgewater founder Ray Dalio warned investors of mounting government debt, and suggested holding about 10-15% of a portfolio in gold and "a bit" of Bitcoin. Link.

- Solana saw a mainnet upgrade that cuts the network's target slot time to 350 milliseconds, down from its previous 400 ms target. The change should lead to faster transaction confirmations but is not designed to increase the overall throughput of the network. Link.

- Citi expects to launch a digital asset custody service later this year, starting with bitcoin. Link.

- The US Treasury will begin seeking public comments on the GENIUS Act, the landmark crypto legislation signed into law last year which is expected to take effect Jan 18 2027. Under the law, entities generally cannot issue payment stablecoins in the US without proper federal or state licenses. Link.

- Harvard University's endowment did not sell bitcoin in Q2, despite selling the prior 2 quarters and having exited its Ethereum position entirely. Link.