Crypto Weekly Digest | Bitcoin Breaks New Highs, Ethereum Surpasses $3,000; "Crypto Week" Approaches, Three Major Bills Reshape Global Regulatory Landscape

This week, the cryptocurrency market has been soaring, with $Bitcoin (BTC.CC)$ breaking new highs repeatedly, surpassing the $122,000 mark, up over 10% for the week; $Ethereum (ETH.CC)$ has broken through the $3,000 mark, with a cumulative rise of nearly 20% for the week.

This Week's Hot Events

"Crypto Week" Policy Storm Incoming: Three Major Bills Reshape Global Regulatory Landscape

The week of July 14, 2025, has been designated by the U.S. House of Representatives as "Crypto Week," with three major bills — the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act — entering the deliberation stage simultaneously. This legislative combo punch marks a critical turning point for U.S. crypto regulation. Notably, U.S. Treasury Secretary Besant previously stated publicly that "stablecoins will consolidate dollar hegemony," deeply tying this legislation to the dollar's internationalization strategy, signaling that the U.S. is attempting to reshape the global cryptocurrency ecosystem through legal frameworks.

The uniqueness of the simultaneous deliberation of the three bills lies in their systematic nature: The GENIUS Act aims to incorporate stablecoins into the U.S. dollar reserve system, the Anti-CBDC Surveillance State Act targets privacy coins and central bank digital currencies, and the CLARITY Act focuses on delineating regulatory authority. This "trinity" legislative design not only reflects the Republican Party's determination to promote compliance in the crypto industry but also exposes fundamental differences in regulatory logic between the two parties. If enacted, the U.S. will become the first country to legislate simultaneously for stablecoins, privacy coins, and regulatory frameworks, with impacts extending far beyond its borders, becoming a benchmark for global crypto regulation.

Regarding the upcoming "Crypto Week," Republican Congressman Tom Emmer emphasized:

Sending these 3 major bills to President Trump's desk is our commitment to protecting the financial privacy of the American people and will realize the vision of "making America the crypto hub." A new era for America has arrived; now is the time to complete this task.

Trump Expected to Secure His First Major Legislative Victory in Crypto Policy Next Week

According to Politico reports, Trump is expected to secure his first major legislative victory in cryptocurrency policy next week. House Republicans are preparing to pass a bill previously submitted by the Senate to establish new regulatory rules for stablecoins.

The U.S. House of Representatives is expected to vote early next week on the Senate-proposed GENIUS Act. The bill aims to establish the first U.S. regulatory framework for so-called "stablecoins" pegged to the dollar. The bill passed the Senate last month with bipartisan support and is poised to become the first major cryptocurrency regulatory measure adopted by the U.S. Congress.

Trump's signing of this stablecoin bill could provide a significant boost to the crypto industry, which has long struggled to enter the mainstream. Crypto supporters hope that U.S. government endorsement, along with the customized regulatory framework they've lobbied Congress for over the years, will enhance the legitimacy of cryptocurrencies, promote adoption, and open doors for traditional financial institutions to further engage with digital assets. This legislation may also benefit the Trump family itself: his sons founded a stablecoin-issuing company last year.

Shanghai SASAC: Strengthen Research and Exploration of Digital Currencies

On July 10, the Shanghai SASAC Party Committee held a central group study session, focusing on the development trends and response strategies for cryptocurrencies and stablecoins. SASAC Party Secretary and Director He Qing pointed out the need to fully implement the spirit of the Seventh Plenary Session of the 12th Municipal Committee, adhere to innovation-driven development, maintain keen awareness of emerging technologies, and strengthen research and exploration of digital currencies. Adhere to the integration of production and data, explore the application of blockchain technology in cross-border trade, supply chain finance, asset digitization, and other fields. Adhere to proactive efforts, enhance strategic agility and initiative, further promote the deep integration of technology, finance, and industry, better leverage the important role of state-owned assets and enterprises in scientific and technological innovation, industrial control, and security support, and make new and greater contributions to the construction of Shanghai's "Five Centers." (Caijing News Agency)

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Opinion Pieces

Fed Governor Waller: Stablecoins Can Boost Overall Demand for the Dollar

Fed Governor Waller stated on Thursday that stablecoins will enhance competition in the payment system, which is a good thing. Speaking at an event at the Dallas Federal Reserve Bank, Waller said the rise of stablecoins will make many types of payments cheaper and faster. "As a free-market capitalist economist, my goal is to reduce costs for households, consumers, and businesses through competition in the payments sector," Waller said. He also noted that stablecoins may suppress demand for U.S. paper currency but will enhance overall demand for the dollar.

U.S. SEC Crypto Team Leader: Tokenization of Stocks Still Falls Under Securities Regulation

U.S. Securities and Exchange Commission (SEC) cryptocurrency special team leader and Commissioner Hester Peirce stated that tokenizing stocks and other assets does not change their essence and must still comply with federal securities laws. Although Peirce has long supported crypto innovation, she emphasized that relevant market participants must strictly fulfill regulatory obligations. This statement responds to calls from some industry figures hoping to freely trade stocks and other assets on the blockchain and reminds that digitized assets are equally bound by regulatory frameworks.

Crypto Concept Tracking

Listed Companies' Bitcoin Holdings Break 847,000 Coins, Q2 Additions Hit Historical High

Bitwise released the "2025 Q2 Corporate Bitcoin Adoption Report," showing that as of June 30, 125 listed companies worldwide hold Bitcoin, totaling 847,000 coins, accounting for 4.03% of Bitcoin's total supply, with a total market value of about $91 billion, up 60.93% quarter-over-quarter. This quarter's new purchases amounted to 159,000 coins, the highest ever; 46 new companies added holdings.

Among top companies, $Strategy (MSTR.US)$ leads with 597,000 coins, followed by $MARA Holdings (MARA.US)$ (49,940 coins) and newcomer Twenty One (37,230 coins). The report also notes that $GameStop (GME.US)$ completed its first purchase, and Trump Media & Technology Group (DJT.US) is raising $2.5 billion for Bitcoin accumulation.

Learn More: Corporate Bitcoin Surge Ignited! Are You Missing Out on This Opportunity?

Ant Group to Add Circle's Stablecoin to Ant International

Ant Group will add $Circle (CRCL.US)$ 's stablecoin to Ant International. Insiders said Ant International plans to incorporate it into its blockchain platform once USDC assets are compliant in the U.S. Due to privacy concerns, the insiders requested anonymity. Additionally, the specific timeline has not been determined. However, Ant International later stated: The media reports are inaccurate, and there are no such plans at present.

Trump Media's New Crypto Move: Applying to List Third Crypto ETF

This week, $Trump Media & Technology (DJT.US)$ plans to launch its third exchange-traded fund (ETF), which will hold Bitcoin and Ethereum as well as other smaller cryptocurrencies.

On Tuesday (July 8), Trump Media applied to create a fund named "Truth Social Crypto Blue Chip ETF," following the company's consecutive ETF applications last month.

The filing states that the fund will consist of 70% Bitcoin, 15% Ethereum, 8% Solana, 5% Cronos, and 2% XRP. The proposed fund plans to trade on the NYSE's ETF platform Arca.

Fintech Company SoFi Expands Investment Services, Accessing Equity in Unlisted Giants Like OpenAI, SpaceX

Fintech company $ $SoFi Technologies (SOFI.US)$ announced the expansion of its investment opportunities, allowing users to invest in well-known unlisted startups such as OpenAI, SpaceX, and Epic Games through its platform. SoFi will collaborate with asset management companies like Cashmere, Fundrise, and Liberty Street Advisors to provide investment channels for these private market funds. This service aims to lower the entry barrier, with a minimum investment of just $10, covering high-growth sectors such as artificial intelligence, aerospace technology, and healthcare.

SoFi CEO Anthony Noto stated that this move provides more diverse alternative investment options for a new generation of investors. SoFi has previously supported cryptocurrency trading and is now joining companies like Robinhood and Republic to provide retail investors with exposure to private company equity, but unlike others using tokenization, SoFi primarily offers it through funds.

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