US SEC Unveils Project Crypto

️ On today's Top Picks:

Crypto News

• ⭐️ US SEC Chairman Paul Atkins announces Project Crypto, a Commission-wide initiative to move US markets onchain.

• The President’s Working Group on Digital Assets releases Strengthening American Leadership In Digital Financial Technology report; to release more details on Strategic Bitcoin $BTC Reserve soon.

• ⭐️ Ethereum $ETH Foundation's Justin Drake announces lean Ethereum, a vision for the next 10 years; goals include scaling base layer TPS to 10K at 1 gigagas per second and Layer 2 TPS to 1M at 1 teragas per second.

• Franklin Templeton, Bitwise, Fidelity, Canary Capital, CoinShares, Grayscale, and VanEck file amended S-1 registration statements with the US SEC for Solana $SOL spot ETFs.

• Tether releases Q2 2025 attestation; reports $4.9B net profit, $157.1B total issued $USDT, $162.5B total assets/reserves, $5.47B excess reserves, $127B+ in US treasuries.

• Circle $CRCL to launch native $USDC on Hyperliquid $HYPE; to also launch CCTP V2 on Hyperliquid.

• OpenEden $TBILL surpasses $200M in TVL; TBILL is a tokenized US Treasury Bill product for accredited investors to earn risk-free returns onchain using stablecoins in a regulated vault.

• US Appeals Court overturns OpenSea product manager Nathanial Chastain's wire fraud & money laundering conviction; Chastain was charged in June 2022.

• August & September are historically the worst months for Bitcoin $BTC; BTC has fallen in August & September in 8 of the past 12 years.

Alpha

• Meteora launches Season 1 points checker; season 2 is ongoing.

• SatLayer Foundation announces $SLAY tokenomics; 10% of SLAY supply allocated for SatLayer Community.

• Avantis introduces the Avantis Foundation; to potentially launch TGE & airdrop soon.

• Human Passport launches HUMN onchain SUMR Season 1; earn HUMN points by collecting stamps; early bird & OG users have a 2x multiplier.

• INFINIT announces $IN tokenomics; 5% of IN supply allocated for Initial airdrop; to release airdrop details next week.

• Box launches free .eth .box subdomains; ENS holders are eligible to claim.

• 2025 Crypto August Calendar by LayerGG.

Airdrops

• Airdrop, Checkers, & Points by Olimpio.

• Treehouse launches $TREE airdrop claim; Treehouse GoNuts Season 1 participants & Treehouse Squirrel Council NFT holders are eligible.

• Sonic upgrades $S Season 1 airdrop; adds 5 S minimum claim & 70 S per Shard.

• ⭐️ Towns to launch $TOWNS TGE & airdrop on August 5th; over 10% of TOWNS supply to be airdropped to early users, partners, & launch collaborators.

• ICYMI Airdrops, Checkers, & Points (July 22nd) by Olimpio.

• ICYMI Succinct launches $PROVE airdrop registration; Succinct community members, open-source developers, & more are eligible.

Finance News

• US Federal Reserve leaves interest rates unchanged at 4.25% - 4.50%; Fed Chair Powell stated, "We have made no decisions about September."

• US Economy adds 73K jobs in July, below expectations of 106K; unemployment rate rises to 4.2%, in-line with expectations of 4.2%.

• US Jobs Report for May & June revised; May revised down by -125K, from +144K to +19K; June revised down by -133K, from +147K to +14K.

• ⭐️ $1.11 Trillion wiped out from the US stock market today amid weak jobs data.

• US President Trump fires Commissioner of Labor Statistics Erika McEntarfer; alleges jobs data manipulation.

• US Federal Reserve Governor Adriana Kugler resigns from Federal Reserve Board; effective August 8th.

• Coinbase $COIN reports Q2 2025 earnings; reports $0.12 EPS & $1.4B net income; bought 2,509 Bitcoin $BTC; to launch tokenized stocks & prediction markets soon.

• Strategy $MSTR reports Q2 2025 earnings; reports $32.52 EPS & $10B net income; to raise $4.2B to buy more Bitcoin $BTC.

• Strategy $MSTR buys an additional 21,021 Bitcoin $BTC for ~$2.46B at ~$117,256 per BTC; now holds 628,791 BTC worth ~$74B.

• Twenty One to acquire 5,800 Bitcoin $BTC before public listing; to hold 43,500 BTC worth ~$5.15B.

• Metaplanet $3350.T to raise up to $3.7B to buy more Bitcoin $BTC; currently holds 17,132 BTC worth ~$1.94B.

• The Ether Machine buys an additional ~15,000 Ethereum $ETH for ~$56.9M at $3,809.97 per ETH; now holds 334,757 ETH worth ~$1.29B.

• Riot Platforms $RIOT reports Q2 2025 earnings; reports $0.57 EPS & $219.5M net income.

• Robinhood $HOOD reports Q2 2025 earnings; reports $0.42 EPS, higher than expectations; reports $989M in revenue, higher than estimated $921.5M.

• OpenAI reportedly raises $8.3B at $300B valuation; deal is part of OpenAI’s broader strategy to raise $40B this year.

Security and Exploits

• SlowMist posts July 2025 Web3 Security Recap; highlights 13 major hacks resulting in ~$140M in losses.

• Coinbase protocol security team offers free security reviews to a cohort of apps & protocols on Base; selected teams will receive a scoped review, security-related recommendations, and other assistance to improve.

• Blockaid posts Web3 Wallet Security Report July 2025; highlights wallet drainer activity has surged since May, led by Angelferno with 40K+ attack attempts.

• Apple releases security update patching zero-day; affects iOS, macOS, & more.

• Proton launches Proton Authenticator, a free cross-device 2FA app; features offline support, sync between devices, & more.

Token Unlocks

• Ethena $ENA / ~$94M / AUG 05th
• Immutable $IMX / ~$12M / AUG 08th
Sourced from Tokenomist

Funding

• Billions raises $30M in funding from several investors.

• ⭐️ Stable raises $28M in Seed funding led by Bitfinex & Hack VC.

• Subzero Labs raises $20M in funding led by Pantera Capital.

• KAIO raises $11M in Seed funding led by Laser Digital.

• Falcon Finance raises $10M in Strategic funding from World Liberty Financial.

• GAIB raises $10M in Strategic funding led by Amber Group.

• Ston[.]fi raises $9.5M in Series A funding led by Ribbit Capital & CoinFund.

• TACEO raises $5.5M in Seed funding led by Archetype.

• Aria raises $5M in funding led by Folius Ventures, The Spartan Group, & the Beam Foundation.

• D2X raises $5M in Strategic funding from several investors.

• Due raises $4M in Extended-Seed funding led by Speedinvest.

• Bhindi AI raises $4M in Pre-Seed funding led by Cyber Fund.

• Midl raises $2.4M in Seed funding from Draper Associates & Draper Dragon.

• Solo raises $1.2M in Pre-Seed funding led by Draper Associates.

• Billy Bets raises $1M in funding from several investors.

• Euler raises an undisclosed amount in funding from M31 Capital.

• Bitcoin Layers raises an undisclosed amount in funding from StarkWare, Spark, & Alpen.

The Degen Farmer