The steady hum of innovation ruled the week, with everything simmering down for just a bit.
Just a bit before things take off again!
The headlines:
- The SEC’s Hester Pierce reiterated that tokenized instruments are still subject to securities laws;
- Robinhood got under legal scrutiny in the sunny state of Florida;
- Avalanche has a new decentralized data ecosystem;
- OFAC issued fresh North Korean and Russian crypto-related sanctions;
- Circle made waves everywhere;
- Plus, there’s a new hire at Coinbase: a crypto Twitter expert! (More on that later);
- And much more!
As always, these are your decentralized diaries!
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Bitcoin is at $120k (as of 7/14/25)
The bulls continued to hold sway as Bitcoin moved from a $107,527.05 low to a $123,091.61 high before settling at $120,143.53.
The altcoins are set for a boost, too.
Ethereum (ETH) is at $3,027.66, Solana (SOL) is at $164.78, Chainlink (LINK) is at $16.09, Avalanche (AVAX) is at $21.62, Polkadot (DOT) is at $4.03, and Uniswap (UNI) is at $9.33.
Tokenized Instruments Are Securities-Pierce
In a July 9 statement, SEC Commissioner Hester Peirce warned that tokenized instruments remain subject to federal securities laws. Pierce emphasized that blockchain-listed instruments can’t erase regulatory measures and cautioned firms against assuming innovation exempts them from compliance.
Moreover, she flagged risks tied to third-party token issuers and noted that some tokens may qualify as security-based swaps, which carry stricter trading limits.
The Florida AG Targeted Robinhood
Florida Attorney General James Uthmeier launched a formal investigation into Robinhood Crypto, alleging deceptive marketing around its fee claims. The probe centers on Robinhood’s payment-for-order-flow model, which may result in higher trading costs.
On July 10, the AG’s office issued a subpoena demanding internal documents, trade data, and marketing materials to assess whether users’ fees matched advertised claims. Robinhood maintains its disclosures are “best-in-class.”
However, the state is scrutinizing whether the pricing structure masks hidden fees.
Kraken and Backed Want to Launch Tokenized Trading on the BNB Chain
Boutique crypto exchange Kraken expanded its RWA footprint via a partnership with onchain issuer Backed. On July 9, the duo indicated that anyone will have access to equities 247.
Furthermore, he instruments will exist on-chain as BEP-20 tokens.
OKX Partnered With Circle to Boost Ecosystem Liquidity
Stablecoin issuer Circle and boutique digital asset exchange Circle teamed up to enable greenback-pegged USDC onramps for its users. The 60 million-strong ecosystem can now convert their USDC stablecoins to dollars back and forth seamlessly.
Additionally, the duo plans to run an educational campaign targeting developers, users, and other crypto players.
Treasury, Coin Center Dropped the Tornado Cash Case
The U.S. Treasury and advocacy group Coin Center agreed to drop their legal battle over Ethereum mixer Tornado Cash, following OFAC’s March decision to lift sanctions. A federal appeals court vacated the case, citing mootness after the government backed off its claim to be able to sanction immutable smart contracts.
Despite the dismissal, Tornado Cash co-founder Roman Storm still faces trial for alleged money laundering.
Avalanche Has a New Decentralized Platform
Niche storage specialist Akave launched the first decentralized data layer on a dedicated Avalanche Layer-1, targeting enterprise AI, DePIN, and SaaS workloads. Dubbed Akave Cloud, the platform anchors storage logic directly to smart contracts.
Moreover, the setup eliminates intermediaries and enables an encrypted, verifiable data infrastructure.
The Treasury Imposed North Korean and Russian Crypto IT Sanctions
A July 8 press release revealed the imposition of sanctions against several North Korean individuals and entities. The Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Russian national Gayk Asatryan and North Korean national Song Kum Hyok.
OFAC alleges that the duo and others played critical roles in IT operations that focused on crypto and blockchain firms.
Circle Clinched a Stablecoin Collaboration With Ant International
Still, on stablecoins, a July 10 Bloomberg report unveiled a blooming partnership between Circle and the Alibaba-linked Ant Group subsidiary Ant International. According to the report, Ant International will enable USDC stablecoin integrations on its blockchain.
Furthermore, the takeoff date for the launch has yet to be announced by the duo.
The Feds Charged Two Men in $650 Million Crypto Scam
Prosecutors charged OmegaPro founders Michael Shannon Sims and Juan Carlos Reynoso with orchestrating a $650 million global crypto fraud. From 2019 to 2023, the duo allegedly ran a multi-level marketing scheme promising 300% returns via forex trading, luring thousands of investors into crypto-funded “packages.”
Both men face wire fraud and money laundering charges, each carrying up to 20 years in prison.
Coinbase Made Its First “Crypto Twitter” Hire
Bouique cryptocurrency exchange Coinbase hired pseudonymous crypto personality AlexOnchain as its first-ever Crypto Twitter Lead, marking a strategic shift toward social-native communications. Alex previously ran Binance’s social and community efforts, growing its following by 20 million before exiting in 2024.
His debut included a playful takeover of the company’s feed and a Pudgy Penguin profile swap, signalling a push for transparent, culture-driven engagement.
Another Synthetic Stablecoin Lost Its Value
Falcon Finance synthetic stablecoin Falcon USD (USDf) slipped below its $1 peg on July 8 amid mounting concerns over liquidity and collateral quality. Blockchain data showed on-chain liquidity dropped to $5.5 million, triggering panic and scrutiny over the token’s backing.
Token issuer DWF Labs claims the USDf is 116% overcollateralized, with 89% held in Bitcoin and stablecoins.
