This Week in Crypto: Major Laws, Hacks, Holdings, and Partnerships

Crypto Weekly Roundup: Top Highlights of the Market

Looking for the top crypto market highlights of the week. Following is the list of top events that has happened in the last seven days. 

Trump Signs Groundbreaking Stablecoin Law: GENIUS ACT

The U.S. has enacted the GENIUS Act, the first federal stablecoin law, signed into effect on July 19 by President Trump. The act places strict requirements on dollar-backed coins to have full 1:1 reserves. 

Both Tether and Circle celebrated the law. Tether celebrating a new U.S. exclusive stablecoin. Circle applauded the open transparent framework. This is one massive step towards crypto in America.

WLFI Trading Can Start in Late August

WLFI, which is part of Trump's World Liberty Financial, will begin trading by late August at a $16B valuation. Governance supported token transferability, allowing listings and peer-to-peer transfers. Pre-market price is at $0.16, with exchange listings and strategic unlocks underway. Legal teams are also meeting U.S. regulators.

CoinDCX Hacked

CoinDCX lost $44 million in a server hack related to a liquidity account, and not customer wallets. Stolen funds were transferred from Solana to Ethereum via Tornado Cash. CEO Sumit Gupta confirmed that all user funds are secure in cold storage. Trading and INR withdrawals are intact. But the 17-hour delay in reporting was worrying.

Thailand Unveils Crypto Sandbox to Stimulate Tourism

Thailand's SEC and Central Bank initiated a public hearing on a crypto sandbox to allow tourists to exchange digital currency to baht. The proposal is designed to enhance crypto tourism, beginning in areas such as Phuket. Crypto companies favor it, but tourism authorities prefer more explicit rules and improved communication.

BitMine Ethereum Holdings Cross $1B, Fuels $10K ETH Talk

BitMine Immersion Technologies now possesses more than $1B of ETH following a gigantic private round, with 300,657 tokens in its possession. The action has invited MicroStrategy-like comparisons, with plans to stake 5% of ETH's supply. ETH shot above $3,400 following the news, with optimistic signals pointing toward $6K or even $10K in the future. Traders are still split over whether retest or complete breakout is next.

SharpLink Ethereum Holdings Reach $700M, Institutions Jump In

SharpLink Gaming now has $700M of ETH, even exceeding the Ethereum Foundation. It just staked $15.8M in LSETH, indicating long-term belief. Other whales are getting into it, with more than $300M in new purchases. This institutional rotation can propel Ethereum higher.

Ripple, Ctrl Alt Collaborate to Tokenize Dubai Real Estate

Ripple and Ctrl Alt have joined hands to assist Dubai Land Department in tokenizing title deeds of property on the XRP Ledger. Ctrl Alt, which is now VARA-licensed, facilitates secure token issuance and storage. The action facilitates fractional ownership, making access to real estate easier for small investors. This makes Dubai the first Middle Eastern city employing blockchain for official property records.

Windtree Therapeutics Bets Big on BNB with $60M Deal

Windtree Therapeutics acquired a $60M deal with Build and Build Corp to introduce a BNB treasury, with an intention of scaling up to $200M. It is thus the first NASDAQ-listed entity to directly own BNB. The decision provides investors with regulated access to Binance Smart Chain.

Trump Tariffs on Russia Shake Crypto as Bitcoin Falls

Earlier this week, Bitcoin fell from $121K to $117K after Trump threatened 100% secondary tariffs on countries trading with Russia. Trump issued the 50-day ceasefire ultimatum to Putin, increasing tension. Crypto markets responded in real-time, with Ethereum and Solana falling too. Investors worry global instability will affect risk assets.

Strategy Buys More BTC, Hits 601K Mark

Michael Saylor's firm, Strategy (previously MicroStrategy), acquired 4,225 additional BTC at a cost of $472.5 million, bringing its holdings to a record 601,550 BTC—largest corporate stakeholder globally. The acquisition was made after disposing of firm shares such as MSTR. Other firms such as Japan's Metaplanet and others are also taking the same route, backed by the Bitcoin ETF era.