Crypto Morning News: White House to penalize banks discriminating against crypto companies, Bullish files IPO application with SEC
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Crypto Morning News: White House to penalize banks discriminating against crypto companies, Bullish files IPO application with SEC
SharpLink Gaming has increased its holdings by 18,680 ETH, bringing its total holdings to 498,884 ETH.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
WSJ: White House preparing executive order to penalize banks accused of discriminating against crypto firms and conservative individuals
According to the Wall Street Journal, the White House is preparing to increase pressure on major banks over alleged discrimination against conservative individuals and cryptocurrency companies, planning to issue an executive order threatening fines for banks that deny services to customers for political reasons.
A draft of the executive order obtained by the Wall Street Journal indicates it would direct banking regulators to investigate whether financial institutions have violated the Equal Credit Opportunity Act, antitrust laws, or consumer financial protection laws.
Bloomberg: CFTC considering allowing futures exchanges to offer spot crypto contracts
According to Bloomberg, the U.S. Commodity Futures Trading Commission (CFTC) is exploring allowing registered futures exchanges to list leveraged digital asset trading products, including Ethereum and Bitcoin.
CFTC acting chair Caroline Pham said the agency could immediately implement a clear and simple solution. The CFTC has requested public comments by August 18 on offering spot crypto contracts at exchanges registered with the CFTC.
Goldman Sachs: Expects Fed to cut rates by 25 basis points three times starting in September
According to Jinshi Data, Goldman Sachs stated, "We expect the Federal Reserve to cut rates by 25 basis points three consecutive times starting in September; if unemployment rises further in the next report, a 50-basis-point cut is possible."
PeckShield: CrediX attacked, loses approximately $4.5 million
According to PeckShield monitoring, CrediX suffered a security breach today, with hackers exploiting an admin account possessing multi-admin privileges. This account had authority over fund pool management, cross-chain bridges, asset listings, emergency controls, and more.
The attacker primarily used the cross-chain bridge (BRIDGE) permissions, causing approximately $4.5 million in fund pool asset losses, including minting uncollateralized acUSDC tokens.
Earlier reports confirmed the security incident by CrediX, stating an investigation is underway and details will be released soon.
Lido Co-Founder: Contributor team to be reduced, affecting about 15% of staff
Lido co-founder Vasiliy Shapovalov said over the weekend on social media: "To ensure long-term sustainability, Lido Labs, the Lido ecosystem, and the Lido Alliance have made the difficult decision to reduce the size of our contributor team, affecting approximately 15% of employees. This decision is unrelated to performance and purely driven by cost considerations. It was a difficult choice, but one based on long-term resilience. Though counterintuitive during market upswings, this reflects our strong commitment to sustainable growth, operational focus, and alignment with LDO token holders. Lido is positioning itself for decades of future development, and this adjustment strengthens that foundation."
Blockchain lending firm Figure Technology files IPO application
According to The Information, blockchain lending company Figure Technology has secretly filed an IPO application.
Bullish filesIPO with SEC, aiming to raise $629 million
According to Axios, digital asset exchange Bullish and its subsidiary CoinDesk have filed an initial public offering (IPO) application with the U.S. Securities and Exchange Commission (SEC). According to the filing, Bullish plans to issue 20.3 million shares at a price range of $28–$31 per share, raising up to $629 million, implying a valuation of approximately $4.2 billion.
Bullish operates in digital asset spot trading, leveraged trading, derivatives trading, and provides liquidity services to stablecoin issuers. Financial data shows the company recorded $80.2 million in digital asset sales in Q1 2025, with a net loss of $349 million. Bullish acquired cryptocurrency media platform CoinDesk for $72.6 million in 2023.
Barry Silbert returns as Grayscale Chairman, advancing company's上市 process
According to The Block, Grayscale Investments announced founder Barry Silbert is returning as Chairman of the Board, replacing Mark Shifke, who will remain on the board. This move comes as Grayscale prepares to advance its上市 plans, having submitted confidential IPO documents last month. Silbert stepped down as Chairman at the end of 2023, during a critical period when the SEC was reviewing the conversion of its GBTC into a spot Bitcoin ETF, and amid lawsuits from the New York Attorney General against its parent company DCG over Genesis bankruptcy and the Gemini Earn program, with Silbert named in the suit.
DeFi Dev increases SOL holdings by over 110,000, total exceeds 1.29 million
According to an official announcement, DeFi Dev has increased its holdings by 110,466 SOL at an average purchase price of $166, totaling $18.4 million, bringing its current total to approximately 1,293,562 SOL, worth about $209 million.
The Ether Machine adds 10,605 ETH, total holdings exceed 345,000
The Ether Machine announced today that its subsidiary, The Ether Reserve LLC, purchased 10,605 ETH at an average price of $3,781. This acquisition is part of the company’s long-term accumulation strategy, funded by a previous $97 million private placement.
Since the beginning of this month, The Ether Machine has purchased or committed to acquire a total of 345,362 ETH. The company plans to operate these assets through staking, restaking, and provide Ethereum infrastructure services to institutions.
SharpLink Gaming adds 18,680 ETH, total holdings reach 498,884
According to on-chain analyst Onchain Lens (@OnchainLens), SharpLink Gaming (ticker: SBET) added another 18,680 ETH today, worth approximately $66.63 million. After this purchase, the company’s total Ethereum reserves amount to 498,884 ETH, valued at around $1.8 billion.
Market Data
Suggested Reading
The forgotten WIF: The life and death rules of meme coins under attention economy
This article tells the rise and fall story of the cryptocurrency meme coin WIF (Dogwifhat), revealing the survival rules of meme coins under the attention economy. WIF once went viral due to a photo of a Shiba Inu wearing a pink knitted hat, reaching a market cap of billions of dollars, but eventually declined as market enthusiasm faded, community trust eroded, and projects failed. The article emphasizes that in the Web3 era, being forgotten is true death.
Satoshi Nakamoto statue sunk to the lake bottom, anxieties of the 'crypto capital of Europe' surface
This article discusses Lugano, Switzerland’s attempt to become the “crypto capital of Europe” through its “Plan B,” using the event of a Satoshi Nakamoto statue being thrown into a lake as an entry point to analyze the city’s challenges and limitations in promoting a crypto ecosystem. The article notes that Lugano’s crypto strategy relies heavily on administrative support and funding, lacking organic social foundations, which may hinder the sustainability of its crypto agenda.
This article records Ray Dalio’s reflections on Bridgewater Associates’ 50th anniversary, reviewing the firm’s development and his personal career. He shared how the philosophy of pain and reflection shaped Bridgewater’s unique culture and investment principles, emphasizing the importance of meaningful work and relationships. The dialogue traces Bridgewater’s journey from a basement startup to the world’s largest hedge fund and outlines its future direction.
New Hotcoin: From 'tool provider' to 'value co-creator'
This article introduces cryptocurrency exchange Hotcoin’s comprehensive brand upgrade, focusing on its strategic shift from a “tool provider” to a “value co-creator.” The upgrade includes visual optimization, functional enhancements, and improved user experience, aiming to build a safer, more transparent, and supportive global cryptocurrency trading platform.
Crypto valuation and fundraising in bubble cycles: A life game about timing
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