The cryptocurrency landscape continues to evolve rapidly, shaped by regulatory developments, technological innovations, and shifting market dynamics. This comprehensive update covers key regulatory moves, project milestones, market performance, and critical data trends shaping the industry in mid-2025.
Regulatory Developments
SEC Seeks to Amend Binance Complaint Over Crypto Securities Definition
In a significant legal development, the U.S. Securities and Exchange Commission (SEC) has notified the court of its intent to modify its complaint against Binance. According to court filings from the District Court for the District of Columbia, the amendment aims to refine the definition of "third-party crypto asset securities" — a term previously outlined in the SEC’s opposition to Binance’s motion to dismiss (Dkt. No. 172).
This strategic move allows the court to sidestep an immediate ruling on whether certain tokens qualify as securities under U.S. law. Defendants — including Binance Holdings Limited, BAM Trading Services Inc., BAM Management US Holdings Inc., and founder Changpeng Zhao — have 30 days to respond with either consent or opposition.
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The SEC has long maintained that numerous digital assets should be classified as securities. In its case against Binance, it specifically named SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI as falling under this category — a stance that could have far-reaching implications for exchanges and token issuers alike.
NYSE Arca Approved for Grayscale Bitcoin Mini Trust
In a positive signal for institutional adoption, the SEC has approved NYSE Arca’s application to list shares of Grayscale’s Bitcoin Mini Trust. The regulatory greenlight, detailed in a rule change filing submitted last Friday, indicates growing confidence in crypto-linked financial products.
The approval reflects the SEC’s careful evaluation of exchange submissions and may pave the way for broader access to Bitcoin investment vehicles through traditional markets.
Russia to Test Cryptocurrency Payments in 2025
Russian Central Bank Governor Elvira Nabiullina announced plans for the country’s first pilot of crypto-based payments this year. While details remain sparse, the initiative marks a potential shift in Russia’s approach to digital assets — balancing innovation with regulatory oversight.
Project Updates and Ecosystem Growth
Meta Launches AI Studio for Custom Chatbots
Instagram parent company Meta is expanding its artificial intelligence offerings with AI Studio, a new feature enabling users to create personalized AI chatbots. Professional account holders can design bots to interact with followers, while general users can build theme-based assistants — such as ones focused on martial arts, food, or pets.
Powered by Meta’s latest large language model, these chatbots can solve complex math problems, analyze full texts, and generate images from text prompts. The rollout is expected within weeks, signaling deeper integration of AI into social platforms.
Elon Musk Affirms Dogecoin Support Amid Deepfake Warnings
In a recent appearance on the X Takeover podcast hosted by Tesla owners in Silicon Valley, Elon Musk reiterated his fondness for Dogecoin — attributing it to his love for memes and dogs. However, he clarified that any promotional content suggesting his endorsement of specific cryptocurrencies may be fabricated using deepfake technology.
Despite reduced public mentions, Tesla and SpaceX continue to accept Dogecoin for merchandise. Musk also reaffirmed his commitment to the DOGE-1 lunar mission, reinforcing long-term confidence in the meme coin’s utility.
gm.ai Launches on Solana with GM Token Airdrop
Whales Market founder Dexter has introduced gm.ai, an AI-driven project on Solana. The GM token is set to launch on August 14, 2024, with an airdrop for presale participants scheduled approximately 24 hours before trading begins. Official listings on CEXs, DEXs, launchpads, and partner platforms will be revealed gradually over the coming week.
Users are advised not to attempt claiming tokens prematurely, as no distribution has occurred yet.
Coinbase Adds Stader (SD) Support on Ethereum
Coinbase has announced support for Stader (SD) as an ERC-20 token on Ethereum. Trading is expected to begin around 01:00 UTC on July 31, pending sufficient liquidity. Users are warned against sending SD via non-Ethereum networks to prevent irreversible fund loss.
FTX Customers Must Choose Between U.S. or Bahamas Claims by August 16
FTX Digital Markets Ltd. has entered the next phase of its liquidation process. Affected customers must choose by August 16, 2024 (EDT) whether to participate in the U.S. Chapter 11 bankruptcy proceedings or the Bahamian liquidation process — but not both.
Notably, payouts under the Bahamian program are projected to exceed 100% of outstanding balances as of the bankruptcy date. All FTX.com users are eligible, regardless of prior claims filed in the U.S.
Market Performance and Key Metrics
Solana Surpasses Ethereum in Weekly Fee Revenue
For the first time, Solana outearned Ethereum in weekly transaction fees. According to Blockworks Research, Solana generated approximately $25 million in fees during the week of July 22 — surpassing Ethereum’s $21 million. On July 28 alone, Solana earned $5.5 million, exceeding the combined fees of Ethereum, Arbitrum, and Base (excluding MEV).
This surge is largely driven by memecoin platforms like Pump.fun and Moonshot, though concerns about wash trading persist. Despite this momentum, Ethereum maintains a dominant lead in total value locked (TVL), with ~$60 billion compared to Solana’s ~$5.5 billion.
Top Earning Crypto Projects (Last 24 Hours & 7 Days)
Based on data from Lookonchain:
- Tron: $1.42M (24h), $8.67M (7d)
- Solana: $940K (24h), $6.38M (7d)
- Pump: $867K (24h), $6.31M (7d)
- Ethereum: $844K (24h), $8.08M (7d)
Other top performers include Lido, PancakeSwap, MakerDAO, Uniswap Labs, and Aerodrome.
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Technology and Community Milestones
Vitalik Buterin Celebrates Ethereum’s 9th Anniversary
Ethereum co-founder Vitalik Buterin marked the network’s ninth birthday with a keynote at EDCON 2024 in Tokyo titled “The Next 10 Years of Ethereum.” His speech addressed scalability, sustainability, and long-term vision — underscoring continued innovation within the ecosystem.
Polymarket Launches “The Oracle” Newsletter
Prediction market leader Polymarket unveiled The Oracle, its first news product. Delivered via Substack, it offers weekly insights drawn from over 1,000 active markets — including early-week summaries and mid-week deep dives. Breaking event alerts will also be issued.
With July trading volume hitting $325 million** — up from June’s $111 million — Polymarket is experiencing explosive growth. Cumulative volume has now surpassed $1 billion**, per P2 Ventures tracking.
TON Ecosystem Gains Momentum
- Hamster Kombat clarified that participation in its “playground” features influences airdrop size, not eligibility. All real players (excluding bots) will receive tokens upon connecting their TON wallet.
- The team is working closely with TON blockchain developers to ensure smooth distribution.
- DOGS, another TON-based memecoin project, reached over 10 million Telegram subscribers, highlighting strong community engagement.
Funding and Innovation
Anoma Raises at $1B Valuation Target
Swiss-based Anoma Foundation, developer of the privacy-focused Namada blockchain, is reportedly raising $40 million at a $1 billion valuation. Talks are ongoing with potential investors, according to Bloomberg sources.
Anoma provides tools for building private decentralized applications — positioning itself at the intersection of privacy and programmability.
Binance Labs Announces New Incubation Cohort
Binance Labs has selected its first batch for Season 7:
- Astherus: Liquidity protocol for staked assets
- CYCLE NETWORK: Cross-chain liquidity aggregator
- DILL: Scalable data availability layer
- EigenExplorer: DeFi protocol built on EigenLayer
These projects reflect growing interest in modular infrastructure and restaking technologies.
Frequently Asked Questions (FAQ)
Q: Why is the SEC modifying its case against Binance?
A: The amendment allows the court to delay ruling on whether specific tokens are securities, streamlining litigation strategy while refining legal definitions.
Q: Can I participate in both FTX claim processes?
A: No. Users must choose between the U.S. Chapter 11 process or the Bahamian liquidation program — participation in both is not permitted.
Q: Is Solana truly outperforming Ethereum?
A: In transaction fees — yes. But Ethereum leads in TVL, developer activity, and security. Fee spikes on Solana are partly driven by speculative memecoins.
Q: When will Hamster Kombat airdrop tokens?
A: The exact date hasn’t been announced. The team is working on technical solutions with TON developers to prevent network congestion during distribution.
Q: What is Polymarket’s “The Oracle”?
A: It’s a free weekly newsletter offering curated insights from Polymarket’s prediction markets — including trend analysis and event breakdowns.
Q: Why did Grayscale ETFs see massive outflows?
A: GBTC and ETHE faced sustained selling pressure due to competition from lower-fee spot Bitcoin ETFs launched in early 2025.
The crypto market remains dynamic — driven by regulation, innovation, and user adoption. As institutional infrastructure matures and ecosystems expand across chains like Solana and TON, investors and builders alike must stay informed.
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