The SEC abruptly halted Grayscale’s Digital Large Cap Fund ETF conversion just one day after approval, initiating a formal review and pausing trading plans. OpenAI denied any involvement with Robinhood’s tokenized “OpenAI shares,” clarifying the tokens do not represent company equity. Meanwhile, AllUnity secured BaFin approval for Germany’s first MiCA-compliant euro stablecoin, and Bybit and OKX launched MiCA-compliant crypto exchanges in the EU, marking major regulatory developments in Europe.
The U.S. Securities and Exchange Commission (SEC) has issued a stay order on its own approval of Grayscale's conversion of the Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF), just one day after initially greenlighting the move. The decision, announced in a letter dated July 1, pauses the ETF conversion for an indefinite period and triggers a formal review by SEC leadership. The fund, which includes assets such as Bitcoin, Ethereum, Solana, XRP, and Cardano, will not begin trading as an ETF until the review is completed.
A financial industry trade association is urging the U.S. Securities and Exchange Commission (SEC) to deny special exemptions for companies offering tokenized equities. The group argues that tokenized stock offerings should not receive exemptive relief and should instead go through the standard “notice and comment process.”
U.S. and EU regulators have intensified their collaboration on digital asset regulation, signaling increased alignment on crypto rules, stablecoins, and central bank digital currencies. The joint talks underscore the urgency of building a cohesive cross-border crypto infrastructure, with potential to shape global market standards.
AllUnity, a joint venture comprising Deutsche Bank's asset management arm DWS, Flow Traders, and Galaxy Digital, has received an e-money institution license from Germany's financial regulator BaFin. This approval allows the venture to issue EURAU, the country's first regulated, euro-denominated stablecoin that complies with the EU's Markets in Crypto-Assets (MiCA) regulation.
Bybit and OKX have both launched crypto exchanges in the European Union that comply with the Markets in Crypto-Assets Regulation (MiCA), signaling a significant expansion into the region’s newly unified regulatory environment. Bybit has introduced Bybit.eu, a platform dedicated to the EU and fully regulated under MiCA.
The European Central Bank will launch a blockchain settlement pilot by late 2026 under its new “Pontes” initiative, aiming to connect distributed ledger technology platforms with the eurozone's core payment systems.
Arizona Governor Katie Hobbs has vetoed House Bill 2324, which would have established a state-run “Digital Assets Reserve Fund” funded by assets seized through criminal forfeiture. This marks the third time Governor Hobbs has blocked similar legislation. In her July 1 letter to House Speaker Steve Montenegro, she outlined her opposition to the bill, even as other states such as Texas and New Hampshire have moved forward with their own Bitcoin reserves.
OpenAI has publicly denied any partnership or involvement with Robinhood's recent offering of "OpenAI tokens," which were promoted as tokenized shares of the AI company on Robinhood's new blockchain platform. OpenAI stated that it did not authorize, endorse, or approve the listing or sale of these tokens, emphasizing that they do not represent equity in the company. The tokens, unveiled by Robinhood for European users as part of a broader crypto product launch, were listed without OpenAI's consent. Robinhood CEO Vlad Tenev clarified that the tokens are not technically equity and described the giveaway as a "seed" for future initiatives.
SEC Chairman Paul Atkins appeared on 'Squawk Box' to address the increasing trend of stock tokenization and efforts to make private markets more accessible to the public. He discussed the SEC's approach to regulating private markets and outlined the agency's top priorities in this area.
JPMorgan's blockchain division, Kinexys, is collaborating with S&P Global Commodity Insights, EcoRegistry, and the International Carbon Registry to pilot a blockchain-powered system for tokenizing carbon credits. The initiative aims to create a unified ecosystem for tokenized carbon credits to address market fragmentation and improve tracking, transparency, and trading efficiency. The project will involve tokenizing carbon credits listed in registry systems managed by the three partners.
Coinbase has acquired Liquifi, a token management platform used by organizations such as the Uniswap Foundation, OP Labs, and Ethena. The deal, Coinbase’s fourth acquisition of 2025 and fifth this year, aims to simplify and accelerate token launches for onchain builders and early-stage projects. Liquifi’s infrastructure, which manages ownership, vesting, and compliance, will be integrated into Coinbase’s institutional products, including Coinbase Prime, to strengthen end-to-end token management and distribution. The financial terms of the acquisition were not disclosed.
Recent reports indicate that Donald Trump and his family have gained approximately $620 million from crypto-related ventures in 2025. The Trump family received an estimated $390 million from World Liberty Financial's token sale and $150 million from the launch of the Official Trump memecoin. Since retaking the White House, Trump's net worth has remained stable, but the composition of his wealth has shifted significantly toward crypto holdings and digital assets. Bloomberg estimates that at least $620 million of Trump's wealth now comes from token holdings, reflecting the family's increasing reliance on fast-moving crypto ventures.
BitMart, led by CEO Nenter Chow, is expanding its global presence by launching its crypto exchange services in Syria and introducing a new AI tool.
Despite a busy July featuring Trump's budget bill, tariff decisions, and key policy deadlines, K33 analysts expect the cryptocurrency market to remain subdued, with limited volatility anticipated.
Binance Pay has partnered with French fintech firm Lyzi to enable cryptocurrency and stablecoin payments at over 80 businesses across the French Riviera, including in Cannes, Nice, Antibes, and Monaco.
Wallet of Satoshi has announced the launch of its self-custodial Lightning wallet on the Spark platform, aiming to enhance the scalability and accessibility of Lightning Network payments. This move also marks the company's return to the U.S. market.
Italian banking group Banca Sella has launched an internal trial allowing select employees to hold cryptocurrencies, including stablecoins, using custody software provided by Fireblocks, according to Bloomberg.
Opera's Celo-based MiniPay wallet has partnered with payment infrastructure provider Noah to allow users to receive international payments in stablecoins and spend them directly through familiar local payment channels.
North Korean hackers have developed malware that bypasses Apple's memory protections on Mac devices, deploying an infostealer payload aimed at stealing information from cryptocurrency wallets. This represents an unusual and sophisticated method of targeting crypto projects.
The FBI has traced some of the $250,000 in stolen cryptocurrency through blockchain analytics and, with assistance from Tether, has recovered over $40,000.
DigitalMint President Marc Grens confirmed that a company employee is under investigation and has been terminated, following suspicions of accepting cryptocurrency payments related to ransomware.
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