Crypto Morning Brief: SEC says certain liquid staking activities are not governed by securities laws, CEA Industries completes $500 million private placement and will purchase BNB
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Crypto Morning Brief: SEC says certain liquid staking activities are not governed by securities laws, CEA Industries completes $500 million private placement and will purchase BNB
Trump said Vance is most likely to be his successor.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
U.S. SEC Issues New Guidance: Certain Liquidity Staking Activities Fall Outside Securities Law Jurisdiction
According to The Block, the U.S. Securities and Exchange Commission (SEC) has clarified in its latest guidance that certain liquidity staking activities are not subject to securities laws, meaning participants do not need to register with the SEC.
The guidance states that unless the staked crypto asset itself constitutes or is subject to an investment contract, the issuance and sale of staking receipt tokens do not qualify as securities under the Securities Act and Exchange Act. This could impact liquid staking providers such as Lido, Marinade Finance, JitoSOL, and Stakewise.
SEC Chair Paul Atkins said this move marks a significant step toward clarifying regulatory boundaries for crypto assets and represents one of the first outcomes of the agency’s "Project Crypto" initiative. Industry insiders believe the guidance may help advance the approval process for spot Ethereum ETFs, particularly regarding staking features.
Trump Says Vance Most Likely to Succeed Him
According to Jin10 News, U.S. President Donald Trump said Tuesday that current Vice President Vance is the "most likely" successor to his "Make America Great Again" (MAGA) movement. Earlier, Secretary of State Rubio told Fox News that Vance would be an excellent nominee if he chose to run. Responding to this, Trump said, "I think he (Vance) is most likely." He added, "We have some very talented people—some of whom are sitting at this table today. So it's too early to talk about this now, but certainly Vance is doing an outstanding job right now, and he might currently be the frontrunner." Earlier that day, Trump told CNBC he "probably won't" seek a third presidential term.
Robinhood Crypto Launches ONDO and FLOKI for U.S. Users
In the early hours today, Robinhood Crypto announced the launch of ONDO and FLOKI for U.S. users to further expand its platform assets.
Social Messaging Protocol Towns Protocol Opens Airdrop Eligibility Check
According to an official announcement, social messaging protocol Towns Protocol has launched its airdrop eligibility verification tool.
Magic Eden Announces Second-Quarter Rewards Distribution on August 6
According to an official announcement, Magic Eden will distribute second-quarter rewards on August 6.
MetaMask Plans to Collaborate with Stripe to Issue Stablecoin MetaMask USD
Per a governance proposal, MetaMask is planning to partner with Stripe to launch a stablecoin called MetaMask USD (mmUSD), which will be issued by Stripe but utilize the M^0 network for issuance and settlement.
The mmUSD aims to become a cornerstone asset within the MetaMask ecosystem, natively integrated into MetaMask Wallet, trading, buy/sell, and yield functions. Positioned as a neutral, highly liquid base currency, it intends to enhance stablecoin liquidity and optimize user experience in decentralized finance. Neither MetaMask nor Stripe has officially confirmed this yet.
Ethereum Proposal EIP-0000 Introduces Unified Multi-Dimensional Fee Market
Ethereum core developers Anders Elowsson and Vitalik Buterin have jointly proposed EIP-0000, aiming to implement a unified multi-dimensional fee market mechanism. The proposal suggests allowing users to set a single maximum fee cap (max_fee) across multiple resource types to improve capital efficiency.
This mechanism would make max_fee interchangeable across different resource types, potentially simplifying the management of currently separate fee markets for blobs, calldata, and gas. It also lays the groundwork for integrating additional resource types in the future.
UK Man Who Lost 8,000 BTC Ends Landfill Dig Search, Shifts Focus to Tokenizing Legal Ownership
According to The Block, UK IT engineer James Howells said he has stopped pursuing excavation of the Newport landfill site containing a hard drive with 8,000 bitcoins, though he clarified he hasn’t given up on reclaiming them.
Howells plans to tokenize the court-recognized legal ownership of his 8,000 BTC by launching Ceiniog Coin (INI), a smart token on a Bitcoin Layer 2 network.
CEA Industries Completes $500 Million Private Placement Led by YZi Labs
CEA Industries (Nasdaq: VAPE) announced today the completion of a $500 million private placement and will rebrand as "BNB Network Company," with its stock ticker changing to "BNC" on August 6. The company plans to use the proceeds to purchase BNB as its primary reserve asset.
The private placement was led by YZi Labs and attracted over 140 institutions, including Pantera Capital and Blockchain.com. The company also appointed David Namdar, former co-founder of Galaxy Digital, as CEO, and Russell Read, former investment director at CalPERS, as Chief Investment Officer.
Publicly Listed MEI Pharma Acquires 929,548 LTC at Average Price of $107.58
According to BusinessWire, U.S. pharmaceutical company MEI Pharma (Nasdaq: MEIP) announced the acquisition of 929,548 Litecoin (LTC) at an average price of $107.58, totaling approximately $110 million. The company becomes the first publicly listed U.S. firm to adopt Litecoin as a primary reserve asset.
Earlier, MEI Pharma completed a $100 million private placement and added Litecoin to its treasury reserves.
SharpLink Adds 83,561 ETH, Total Holdings Exceed 520,000
According to an official announcement, SharpLink (ticker: SBET) now holds 521,939 ETH. Between July 28 and August 3, the company acquired 83,561 ETH at an average price of $3,634, investing a total of $264.5 million. Its ETH concentration metric rose from 3.40 last week to 3.66, an 83% increase since the strategy’s launch on June 2.
All of SharpLink’s ETH holdings are now staked, generating 929 ETH in staking rewards to date.
Market Overview
Suggested Reading
Crypto Exchanges Target Xiaohongshu
This article discusses how cryptocurrency exchanges are turning to Xiaohongshu as a new marketing battleground to attract core users and rebuild their brands. It analyzes the shift in traffic from platforms like Weibo and Twitter to Xiaohongshu, highlighting the latter’s unique advantages in content distribution, trust networks, and ecosystem dynamics. The article also points out challenges such as intense competition, platform moderation, and compliance risks, offering deep insights into future traffic strategies.
This article provides a detailed overview of the marketing ecosystem in the Chinese-speaking region of the global cryptocurrency market, particularly focusing on key opinion leaders (KOLs) and marketing agencies in the Web3 space. The Chinese market boasts a unique and rapidly expanding digital ecosystem, representing substantial opportunity. The article examines the role and importance of KOLs for crypto projects and lists several specialized KOL agencies along with their service highlights, offering valuable references for international projects seeking entry into the Chinese market.
Grayscale Research: Institutional Inflows and Regulatory Green Lights Behind Ethereum’s Strong Rise
This article analyzes recent developments in the crypto market, especially Ethereum’s strong performance. It highlights the significant implications of the GENIUS Act’s passage for the stablecoin and crypto industry, as well as Ethereum’s leading position in smart contracts, stablecoins, and tokenized assets. Additionally, it forecasts that the crypto market will continue to be driven by institutional investment, macroeconomic conditions, and regulatory support in the coming months.
RWA Milestone: First RWA Stock, Figure, Set for Public Listing
This article introduces how Figure uses its proprietary Provenance blockchain to enhance mortgage efficiency, becoming the largest non-bank HELOC provider in the U.S., offering fast and secure lending services. Crypto-backed loans allow customers to borrow against BTC or ETH while retaining upside potential, making the product flexible and popular in both bull and bear markets. Figure has completed multiple funding rounds with backing from top-tier investment banks, and its IPO preparations are now in advanced stages. Figure is driving the convergence of RWA (real-world assets) and DeFi, aiming to bring trillions of dollars in real-world assets onto the blockchain.
Uncovering Pantera Founder: The Thousandfold Legend of Buying Bitcoin at $65
This article delves into the legendary Bitcoin investment journey of Dan Morehead, founder of Pantera Capital—from early struggles promoting Bitcoin to becoming a leader in the crypto industry. His persistence and foresight helped Pantera become one of the world’s first Bitcoin funds and achieve tremendous success in the crypto space. The article also reviews Bitcoin’s price volatility and the early challenges of the crypto industry, while looking ahead to Bitcoin’s future potential.
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