Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.
Here’s what happened in crypto this week:
Pump.fun Secures $500 Million In Public Sale
Meme coin creation platform Pump.fun completed a $500 million public token sale on July 12th, with all available tokens selling out within 12 minutes of the offering.
The token, listed under the ticker $PUMP, was offered at $0.004 per unit, representing 12.5% of the total 1 trillion supply.
Token buyers will receive their PUMP tokens with transfers temporarily disabled during the distribution phase. The tokens will become tradable once distribution is complete, according to project announcements.
Hungary Enforces Strict Crypto Restrictions, Including Penalties For Unlicensed Exchange Users
Hungary has implemented stringent crypto regulations as of July 1st, 2025, criminalizing unauthorized trading with penalties of up to 5 years for individuals and 8 years for service providers.
The rules, now in effect, aim to curb illicit activity but risk alienating a huge chunk of the market.
This has left many traders and service providers in a state of uncertainty, as they must either halt operations, relocate, or risk prosecution.
The government has given regulatory authorities a 60-day timeline to define the specifics of the new regulations, but there is still no public guidance or compliance playbook available.
Grayscale Investments Confidentially Submitted Draft IPO Registration To SEC
Grayscale Investments has reportedly submitted a confidential draft of its IPO registration to the Securities and Exchange Commission (SEC), signaling a major step toward becoming a publicly traded company and potentially expanding its reach in the crypto asset management space.
If confirmed, this aligns with Grayscale’s history of pushing boundaries, like uplisting its Bitcoin Trust to NYSE Arca as a spot ETF in 2024. An IPO could redefine its market position.
The company has not yet determined the number of shares to be registered or the price range for the proposed registration. The IPO is expected to proceed after the SEC completes its review process, subject to market and other conditions.
With this move, Grayscale joins a growing list of top crypto-native companies aiming to go public in the US, including Gemini and Kraken.
Kazakhstan Considers Investing Part Of National Reserves In Crypto
Kazakhstan is considering investing part of its national reserves in crypto assets, aiming to establish a state-managed crypto reserve.
The National Bank of Kazakhstan is exploring this move to diversify its reserves, drawing inspiration from global sovereign funds like Norway’s, and could position the country as a Central Asian blockchain hub.
Funding will reportedly come from confiscated digital assets and government mining operations. This centralized approach aligns with Kazakhstan’s broader strategy to integrate crypto into its economy.
Ondo Finance Acquires Strangelove To Accelerate Full-Stack RWA Platform Development
Ondo Finance has snapped up Strangelove, aiming to turbocharge its Real World Asset (RWA) platform.
The team at Strangelove is recognized for its unique expertise in building secure and modular blockchain infrastructure. Notably, this move also signals a push to create a comprehensive, full-stack solution for tokenized assets at lightning speed.
This acquisition enhances Ondo’s engineering and product capabilities, enabling the development of infrastructure for bringing real-world assets (RWA) onto the blockchain.
US CPI inflation Rises To 2.7% In June, Higher Than Expectations
Data: 2.7% YoY, 0.3% MoM
Forecasted: 2.6% YoY, 0.3% MoM
Last Month: 2.4% YoY, 0.1% MoM
The Bureau of Labor Statistics reported that the Consumer Price Index (CPI) increased 2.7% in June from year-ago levels, compared with 2.4% in May. Year-over-year core CPI (which excludes volatile food and energy costs) rose 2.9%, surpassing the May rate of 2.8%.
The CPI rose 0.3% month-over-month in June, following a 0.1% increase in May. Core CPI also rose 0.2%, matching the May increase.
Economists had forecast the CPI to rise 0.23% on a monthly basis in June, taking the annual inflation rate to 2.6%, according to FactSet’s consensus estimates. Economists predicted that core inflation rose 0.3% on a monthly basis and 3.0% on an annual basis.
Amid the previously muted inflation ratings, President Donald Trump has been urging the Federal Reserve to lower interest rates, which it has not done since December. The president has insisted that tariffs are not exacerbating inflation, and has contended that the Fed’s refusal to ease monetary policy is raising the costs the US must pay on its burgeoning debt and deficit problem.
Standard Chartered Becomes First Global Bank To Offer Institutional Bitcoin And Ethereum Trading
Standard Chartered has rolled out Bitcoin and Ethereum spot trading for institutional clients, a big step for a global bank, signaling deeper mainstream adoption of crypto amid rising institutional demand and favorable policy expectations.
Standard Chartered’s launch of a spot trading desk for BTC and ETH, based in London, marks it as a pioneer among major banks. This targets deep-pocketed institutional players, aligning with a broader trend in traditional finance to embrace digital assets.
The move comes as Bitcoin reaches a record high of $123,000, fueled by investor optimism surrounding US policy shifts dubbed “Crypto Week”. Growing institutional interest, rather than retail speculation, is helping to stabilize these rallies.
US DOJ And CFTC End Investigation Into Crypto Prediction Platform Polymarket
The US Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) reportedly concluded two investigations into Polymarket, a popular online cryptocurrency betting service that describes itself as a “prediction market.” The move continues the Trump administration’s pro-crypto agenda.
Polymarket, which allows users to place bets on everything from elections to sports and weather outcomes, had previously been under scrutiny for potentially allowing US residents to bypass restrictions using VPNs. In 2022, the company settled with the CFTC over unregistered binary options, agreeing to pay a $1.4 million fine and restrict US users going forward.
With the investigations resolved, the report highlighted that Polymarket can now explore formal re-entry into the US.
JPMorgan CEO Jamie Dimon Says The Company Will Get Involved In Crypto Stablecoins
JPMorgan Chase CEO Jamie Dimon stated during a recent earnings call that the bank will become involved in stablecoins, whether he likes it or not.
When asked how the US bank is thinking about “utilizing, leveraging, [and] competing” with stablecoins, Dimon said that the company will be involved in both “JPMorgan Depositcoin and Stablecoins to understand it, to be good at it.”
Notably, the JPMorgan CEO has been a well-known skeptic of digital currencies, but he has been warming up to them as the crypto market continues to grow and the Trump administration pushes to develop regulatory frameworks for cryptocurrencies.
In June, the bank launched a USD deposit token, JPMD, that can be used by institutional clients to make digital payments on a public blockchain.
US House Fails To Advance Crypto Genius Act, Clarity Act & Anti‑CBDC Act
“Crypto Week” faced an unexpected disruption as the US House failed to pass a procedural motion required to advance key crypto bills.
The GENIUS Act, CLARITY Act, and Anti-CBDC Act could not proceed, with the vote ending 196-223. Lawmakers now prepare for another round of voting as the momentum behind the GENIUS Act weakens.
Some Republican lawmakers opposed the GENIUS Act because it did not include a complete ban on a central bank digital currency (CBDC). On the other hand, Democrats used the failed vote to criticize Republican leadership and reaffirm their opposition to the GENIUS Act.
Notably, President Donald Trump urged Republicans to support the crypto bill, aiming to position the US as a leader in the crypto space. However, his appeal did not change the outcome of the vote. The GOP remains divided on how to approach the legislation.
Update:
On July 17th, 2025, the US House passes three major crypto bills: the GENIUS Act for stablecoin regulation, the CLARITY Act for market structure, and the Anti-CBDC Act to block central bank digital currency. A historic step for digital assets, with the GENIUS Act poised for the President’s signature.
Final Thoughts
So that’s it for this week!
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Have a fantastic week ahead!
