Token Chronicle - Week 1 July 2025

Top cryptos

Meme of the week:

Market Sentiment:

Market update: Bitcoin (BTC) is hovering around $109K, while the CoinDesk 20 Index (CD20) is up 1.8%, despite Trump’s threats of tariffs targeting 14 countries (up to 200% on certain products). Traditional markets are largely unmoved, with U.S. indices stable and slight gains in Europe/Asia. Despite inflation concerns, inflows into crypto funds reached $1 billion this week (setting a record at $188 billion), driven by BTC and ETH. Meanwhile, the probability of a U.S. recession has dropped to 20%, according to Polymarket.

Main points this week:

International:

1. A major role played by the A7A5 cryptocurrency in Russia revealed by investigation:
   An investigation has uncovered the major role played by the A7A5 cryptocurrency in Russia. This ruble-backed stablecoin is reportedly being massively used to move funds while circumventing international sanctions. Created in October 2024 by Moldovan businessman Ilan Shor through his company A7, the cryptocurrency was designed from the start as a flexible way to transfer funds. Regulated under Kyrgyz law, A7A5 promotes its services on its website: “A7A5 is a stablecoin that generates passive income simply by holding it. […] It is the first digital ruble issued under Kyrgyz regulations, backed by fiat deposits in reliable banks.” According to the CIR, Russians acquire this cryptocurrency to then freely exchange it for Tether’s USDT, a stablecoin backed by the US dollar.

2. Germany’s largest bank to launch crypto custody services in 2026:
   If there was still any doubt about institutional interest in cryptocurrencies, here’s more proof. Deutsche Bank will launch a crypto custody service in the coming months. It is partnering with the exchange platform Bitpanda to offer crypto asset custody, according to Bloomberg. The new service will also rely on a Swiss service provider, Taurus SA.

3. German savings banks to offer Bitcoin to customers:
   Germany’s largest mutual banking group, Sparkassen-Finanzgruppe, will allow retail customers to invest in Bitcoin and other cryptocurrencies directly through its app. This marks a policy shift for the bank, which until now avoided direct Bitcoin exposure. According to the German Savings Banks Association (DSGV), the service will let self-directed investors access a regulated environment to buy and sell crypto assets. DekaBank confirmed that the platform is already under development and aims to launch within the coming year, meaning in 2026.

4. Pakistan plans to use DeFi to earn yield on its strategic Bitcoin reserve:
   Pakistan joins the growing list of countries looking to make Bitcoin a strategic asset. Inspired by the US, El Salvador, and Bhutan, it plans to build a national BTC reserve while exploring using DeFi to generate yield. Reportedly, advice from CZ helped Pakistan craft a clearer Bitcoin adoption strategy. Instead of selling, Pakistan plans to hold its Bitcoin and place it in decentralized finance (DeFi) protocols to earn yield, remaining budget-neutral. Additionally, Islamabad plans to allocate 2,000 megawatts of excess electricity to Bitcoin mining and AI infrastructure.

5. US tariffs: European surcharges confirmed for July 9:
   Europe had hoped to negotiate lower US tariffs, but so far has been disappointed. The reinstatement of tariff surcharges is now confirmed for July 9, along with retaliatory European tariffs. The failure of negotiations will likely usher in a new period of tension between the US and Europe. Donald Trump had agreed to a 90-day pause hoping to force Europe’s hand, but the standoff never materialized. Yesterday, European Commission President Ursula Von Der Leyen said that “all options” remain on the table.

6. Bitcoin: IMF rejects Pakistan’s plan to use surplus power for BTC mining:
   The International Monetary Fund (IMF) often stands in the way of national crypto adoption. This is now affecting Pakistan’s ambitions for Bitcoin mining. The main issue is a six-month tariff subsidy for “energy-intensive industries such as crypto mining and metallurgy.” Proposed by Pakistan’s Energy Division in September 2024, it was quickly cut down by the IMF to just three months.

7. Hong Kong has escalated its crypto hub ambitions with "Policy Statement 2.0", introducing the LEAP Framework to streamline regulations, expand tokenized assets (like bonds and ETFs), foster real-world stablecoin use, and develop talent—all while enforcing traditional finance-grade oversight on crypto dealing and custody. The FSTB and SFC are now consulting on rules applying "same risk, same regulation" principles to brokers, advisors, and custodians, marking a pivot from earlier drafts to create a unified, AML/CFT-compliant ecosystem. This cements Hong Kong’s strategy to attract crypto innovation without compromising rigor.

8. House Republicans will designate the week starting July 14 as "Crypto Week" to advance stablecoin, market structure, and anti-CBDC bills central to President Trump's digital asset agenda. Lawmakers plan to prioritize the Senate-passed GENIUS Act stablecoin bill over their own STABLE Act version to meet Trump's August deadline. The Clarity Act aims to define SEC and CFTC roles in regulating digital assets, while requiring firms to provide retail financial disclosures and segregate corporate and customer funds. A third bill, led by Majority Whip Tom Emmer, seeks to block the Federal Reserve from issuing a central bank digital currency directly to Americans.

9. JD.com and Ant Group are pressuring China's central bank to approve offshore yuan-backed stablecoins in Hong Kong to boost the fiat currency's global role, Reuters reported. The push comes ahead of Hong Kong's stablecoin licensing regime launching Aug. 1, as the city positions itself as a key offshore crypto hub. Both firms plan to apply for licenses in Hong Kong and other jurisdictions as the global stablecoin race heats up.

10. Pakistan just created the Pakistan Virtual Assets Regulatory Authority to oversee their entire digital asset sector. This isn't a study committee - they're building infrastructure to license and monitor crypto businesses. Their crypto minister has been meeting with Trump's Council on Digital Assets and Wall Street executives.

11. Dubai's Financial Services Authority has approved the QCD Money Market Fund as the first tokenized money market fund within the Dubai International Financial Centre. Qatar National Bank and DMZ Finance collaborated to launch the QCDT fund, with QNB managing investments and DMZ providing the tokenization technology. QCDT enables use cases such as bank collateral, exchange reserves, stablecoin backing, and web3 payments, the firms said. The approval marks another step in Dubai's push to position itself as a global hub for digital assets after allowing Ripple's RLUSD stablecoin as a payment rail in the special economic zone last month.

12. Crypto-related stocks in Hong Kong rallied Tuesday amid growing optimism about the city's upcoming stablecoin licensing framework set to start on Aug. 1. Shares in Victory Securities soared 33.3%, Guotai Junan surged 28.5% after winning approval to offer crypto trading, while Dmall rose 10.3% and OSL gained 8.1%. Dmall and Victory Securities have signaled plans to expand into stablecoins and bitcoin trading ahead of the new licensing regime, and OSL is one of the crypto trading platforms already approved to offer retail services. The rally reflects growing momentum for stablecoins, with Hong Kong and Chinese regulators exploring yuan-based stablecoin opportunities.

Compliance / Regulation / Justice:

1. Bitstack gets MiCA approval to bring Bitcoin round-up savings to all of Europe:
   On Monday, Bitstack announced it has secured its MiCA license, joining the few firms already authorized by France’s AMF. With this step, the Bitcoin savings specialist can now expand its DCA solution across the EU. After raising €5 million late last year, Bitstack is advancing toward launching two new services: a bank account with an IBAN and a Visa debit card offering Bitcoin perks. This will let app users earn cashback rewards, increasing their stack of satoshis.

2. Infiltrating crypto firms to steal funds — 4 North Koreans indicted in the US:
   North Korean agents have once again targeted crypto companies. The US Department of Justice revealed that four nationals have been indicted for infiltrating firms and stealing hundreds of thousands of dollars in crypto. The accused used fake, sometimes stolen, identities to conceal their North Korean nationality, posed as remote IT workers, and abused victims’ trust to steal large sums.

3. Crypto exchange Bybit officially enters Europe under MiCA:
   Bybit has announced the launch of Bybit.eu, a new platform for users in the European Economic Area. Made possible by obtaining a MiCAR license, this allows Bybit to legally offer its services in all 29 member countries. “Bybit.eu is our long-term commitment to Europe,” said Mazurka Zeng, Bybit EU’s managing director and CEO. “Europe deserves a world-class crypto gateway that blends technology and robust regulatory standards — that’s exactly what Bybit EU provides.”

4. Paxos rolls out MiCA-compliant USDG stablecoin with support from Kraken and Robinhood:
   Europe is now implementing its MiCA framework, effective since the start of the year, with a strong focus on dollar-backed stablecoins. Paxos may have the solution with its new “global” USDG.

5. Ripple (XRP) seeks national banking license from US regulator:
   Crypto players in the US are leveraging the regulatory wave initiated by the Trump administration, pushing to erase barriers with traditional finance. Ripple (XRP) is seeking a national banking license, apparently linked to its native RLUSD stablecoin, currently under the watch of New York’s financial regulator. A national license would bring oversight under the OCC as well, which Ripple’s VP of stablecoins, Jack McDonald, says is a good thing. It would establish RLUSD as a regulatory leader, “setting a new standard for transparency and compliance in this booming market.”

6. Monero (XMR) tied to drug trafficking in India:
   In India, authorities arrested a drug trafficker who used Monero (XMR) for illicit activities. This week, Indian media reported the arrest of Edison, 35, who ran the “Ketamelon network,” which operated on the dark web shipping LSD and ketamine across India.

7. Donald Trump signs “One Big Beautiful Bill” budget law — key takeaways:
   Trump’s return to the White House brings major shifts in US domestic policy. His latest example is signing a new budget bill that mainly extends the individual and estate tax provisions from his 2017 tax cuts through 2028. It also delivers on campaign promises like tax exemptions on tips and overtime pay. But Bloomberg notes it also includes “billions for defense and immigration law enforcement, while cutting healthcare, food aid, and clean energy funding.” Additional auto loan tax breaks are proposed for US-built vehicles. The Congressional Budget Office warns this could add $3.3 trillion to the federal deficit over the next 10 years.

8. Regulators raise concerns over Robinhood’s tokenized stocks:
   Lithuania’s central bank, Robinhood’s main EU regulator, is demanding clarity on OpenAI and SpaceX tokens days after the service launched. Recently, OpenAI reminded that “these OpenAI tokens are not OpenAI shares”; now, authorities are worried about their structure. On June 30, 2025, Robinhood rolled out access to over 200 US stocks (ETFs and shares like Nvidia, Apple, Microsoft) as tokens on the Arbitrum blockchain for EU users.

9. US Senator Cynthia Lummis is pushing an amendment into Trump's budget bill that would eliminate taxes on small crypto transactions.  You could buy coffee with Bitcoin without calculating capital gains. Three senators will decide today whether this makes it into the final bill. Crypto policy leaders are calling it all-or-nothing.

10. On Monday (June 30), the Monetary Authority of Singapore (MAS)‘s new crypto licensing rules under the Financial Services and Markets Act (FSMA) came into effect. Under the new rules, digital token service providers incorporated in Singapore — even if they do not serve local customers — must obtain a license and comply with AML/CFT rules. This expands the scope of regulation beyond the existing frameworks such as the Payment Services Act, which focus on services provided to customers in Singapore. This regulatory update has prompted wide-ranging reactions across the crypto industry. Some reports have characterized this as a “crypto crackdown,” while some observers view it as a “step toward consistency.”

11. New York-based law firm Pomerantz LLP filed a class action lawsuit against Michael Saylor's Strategy, alleging it misled investors about the profitability and risks of its bitcoin investment playbook. The complaint claims Strategy downplayed bitcoin's volatility while overstating gains from its treasury operation and failing to fully disclose the impact of adopting new fair value accounting rules. The lawsuit cites a $5.9 billion unrealized bitcoin loss in Q1 2025 after switching from the firm's prior cost-less-impairment model, which triggered an 8% stock drop. Pomerantz said investors who bought Strategy shares between April 2024 and April 2025 can join the class action until July 15.

Traditional Finance:

1. France: Banking lobby sidesteps €33 billion in taxes by influencing law:
   On June 19, 2025, an inspection at Bercy revealed that the French Banking Federation (FBF) had influenced the drafting of a key tax evasion decree, costing the state €33 billion from 2000 to 2020. This stands in stark contrast to the baseless criticism often directed at Bitcoin.

2. Following Trump’s company, Grayscale applies for a multi-crypto ETF:
   Grayscale has filed with the SEC to convert one of its existing funds into an ETF, similar to moves it’s made before. The crypto giant’s Grayscale Digital Large Cap Fund already tracks major-cap cryptos. The SEC has now approved it this week, so a multi-crypto ETF from Grayscale is on the way.

3. Public companies are buying more Bitcoin than ETFs:
   Public companies are growing their Bitcoin holdings faster than ETFs for three straight quarters, says Bitcoin Treasuries. Driven by Strategy’s approach and friendlier crypto regulation under Trump, they added around 131,000 BTC to balance sheets in Q2 2025, up 18%. ETFs rose 8%, buying about 111,000 BTC. Firms like GameStop, KindlyMD (via its Nakamoto merger), and Anthony Pompliano’s ProCap joined in, alongside nine London firms such as Tao Alpha and Bluebird Mining Ventures.

4. Bitcoin: BlackRock’s IBIT spot ETF outperforms its S&P 500 fund:
   Since launch, BlackRock’s IBIT spot Bitcoin ETF has become an unprecedented success, now surpassing revenues from its flagship S&P 500 index fund.

5. Solana: First US ETF with staking hits $33M volume on day one:
   On July 2, 2025, the REX-Osprey Solana + Staking ETF (ticker SSK) debuted on the Cboe BZX Exchange, seeing $33 million traded by close and $12 million in net inflows — a first for an ETF offering both spot exposure to Solana (SOL) and staking yield.

6. Robinhood’s tokenized stocks put pressure on Wall Street:
   Blockchain’s capabilities are redrawing the lines of traditional finance, and Robinhood’s move into tokenization is shaking up Wall Street. Traditional exchanges like the NYSE mainly rely on “deep liquidity pools and trading activity” plus fees and data sales. This may not withstand unrestricted 24/7 trading of real world assets (RWAs).

   

7. DeFi: Morpho protocol allows borrowing SocGen’s EURCV stablecoin against Bitcoin:
   Societe Generale is cementing its role as a top player in the growing stablecoin sector. Its euro stablecoin EURCV is now part of DeFi, with borrowing possible against Bitcoin.

8. REX Shares will launch America's first staking ETF this Wednesday, automatically paying investors to hold Solana. No wallet management, no technical setup - just traditional ETF investing with crypto yields attached. The approval came after REX restructured their corporate setup in a way that satisfied SEC concerns.

9. Crypto asset manager Bitwise is sticking to its $200,000 BTC price prediction for 2025, citing strong ETF flows, bitcoin treasury company accumulation, and the creation of a U.S. Strategic Bitcoin Reserve. However, the firm cooled its expectations for ETH and SOL hitting new highs this year, pointing to weak year-to-date performance and macro risks keeping the broader crypto bull market from "kicking into overdrive." Nevertheless, the firm remains optimistic about the prospects for H2 as progress on crypto legislation, growing institutional demand, and stablecoin adoption still create a strong environment for substantial gains. "The Bottom Line: We're holding firm to our BTC $200k prediction, as there is simply too much institutional demand for BTC to keep prices flat for long," Bitwise CIO Matt Hougan and Head of Research Ryan Rasmussen wrote in a Tuesday note to clients.

10. Standard Chartered’s Geoffrey Kendrick forecasts bitcoin hitting $135,000 by September and $200,000 by year-end, predicting unprecedented second-half momentum fueled by ETF inflows, corporate treasury adoption, and U.S. policy shifts. Spot bitcoin ETFs attracted $12.4 billion in Q2—eclipsing gold ETFs—while institutional buyers accumulated 245,000 BTC, a trend expected to accelerate. Kendrick highlights potential catalysts like a Trump-influenced Fed, the GENIUS Act, and rising Treasury premiums, arguing these factors could override bitcoin’s typical post-halving slump. Achieving $200K would require a $90K H2 rally, marking the largest second-half surge in Bitcoin’s history and signaling a structural shift toward institutional-driven growth rather than retail speculation.

11. Truth Social has submitted an SEC filing for a multi-crypto ETF allocating 70% BTC, 15% ETH, 8% SOL, 5% CRO, and 2% XRP, marking its third crypto ETF proposal after earlier Bitcoin and Bitcoin/Ethereum filings. Partnering with Yorkville America Digital and Foris DAX Trust, the ETF plans to list on NYSE Arca if approved, following Trump Media’s March deal with Crypto.com and Yorkville to launch "Made in America" ETFs. The move coincides with Cronos’ controversial decision to reissue 70B previously burned CRO, raising eyebrows amid Crypto.com’s own ETF ambitions.

Tech News:

1. Polygon launches Katana, a new DeFi-focused blockchain:
   The blockchain sector keeps evolving to meet crypto’s changing demands. Polygon’s new layer 2 network, Katana, aims to revolutionize DeFi by concentrating liquidity on key protocols and avoiding typical fragmentation. Since launching on a private network in late May, it’s attracted major players like lending protocol Morpho and decentralized platform SushiSwap. It’s specially designed for DeFi, but the real breakthrough could be inter-chain yields via AggLayer’s Vault Bridge, enabling earnings across connected chains with bridged tokens.

2. Tether launches “Stable” blockchain optimized for USDT payments:
   The stablecoin market is booming under new regulatory frameworks, yet Tether’s USDT, despite being a leader, has largely been excluded. Its new “Stable” blockchain is here to change that.

3. Ethereum: Vitalik Buterin proposes gas cap per transaction:
   Ethereum co-founder Vitalik Buterin and researcher Toni Wahrstätter propose an EIP-7983 gas cap of 16.77 million per transaction to bolster the network against DoS attacks, stabilize performance, and prepare for zkVM. The EIP remains a draft and will be adjusted, especially around complex cases like rollup batch transactions or massive smart contract deployments. The community response is largely positive, viewing it as “common sense.” It will be debated at upcoming All Core Devs calls.

4. Stablecoin issuer Circle unveiled Gateway, an upcoming cross-chain solution that will let users access a unified USDC balance across multiple blockchains in real time. The system removes the need for traditional bridging by allowing users to deposit USDC into a non-custodial smart contract, unlocking capital efficiency and seamless multichain transfers. Gateway is set to launch on Avalanche, Base, and Ethereum testnets this month, with additional networks to be added later. The cross-chain solution follows Circle's blockbuster IPO and national banking license application, signaling a major push toward deeper integration with the traditional financial system.

5. At EthCC in Cannes, Vitalik Buterin declared the crypto industry at a critical "inflection point," urging projects to move beyond lip service to real decentralization—or risk becoming just another centralized system in disguise. Dressed in his signature jeans and t-shirt, the Ethereum co-founder proposed three concrete stress tests for projects: 1) the "walk-away test" (can users keep assets if the team vanishes?), 2) the "insider attack test" (how vulnerable is the system to rogue employees?), and 3) trusted computing base scrutiny (how much code must users blindly trust?). Buterin singled out Layer-2s, DeFi protocols, and front-ends for relying on hidden admin controls, instant upgrades, and insecure interfaces—calling for a return to crypto’s core ethos as corporate adoption grows. His challenge: Build systems that actually empower users, not just market decentralization as a buzzword.

6. Botanix Labs has launched its EVM-equivalent Bitcoin Layer 2 mainnet, enabling Ethereum smart contracts to deploy natively on Bitcoin while reducing block times from 10 minutes to 5 seconds. The project—part of a growing wave of Bitcoin scaling solutions like Rootstock, Stacks, and BOB—leverages BitVM’s computing paradigm to bring DeFi and programmable contracts to Bitcoin’s ecosystem. By mirroring Ethereum’s functionality, Botanix aims to unlock the $600B+ in dormant BTC value for decentralized finance, positioning Bitcoin as a rival to Ethereum’s smart contract dominance without compromising security.

7. Ripple has deployed its EVM-compatible sidechain on the XRP Ledger mainnet, enabling Ethereum developers to port smart contracts and dApps to XRPL while retaining access to its low-cost payment infrastructure. The sidechain—connected to XRPL via Axelar Bridge—uses XRP as its gas token, eliminating the need to choose between EVM functionality and XRPL’s native advantages like fast settlements. This move aims to boost interoperability and attract Ethereum builders to leverage XRP’s ecosystem without sacrificing compatibility. By merging EVM’s programmability with XRPL’s efficiency, Ripple positions itself as a bridge between two major blockchain economies.

8. Securitize and RedStone have unveiled the Trusted Single Source Oracle (TSSO), a breakthrough framework for securely verifying Net Asset Value (NAV) data on-chain—a critical hurdle for tokenized private funds. Unlike traditional oracles that aggregate multiple price feeds, TSSO tackles the unique challenge of single-source NAV validation (typically calculated by fund administrators) by creating an immutable, cryptographically signed chain of updates. Each entry includes a timestamped digital signature, linked hashes, and a dual-key system: a cold-stored root key for major changes and a threshold-bound chain key for routine updates. The model aims to give DeFi protocols tamper-proof NAV transparency while balancing security with operational efficiency, unlocking new potential for on-chain private markets.

Adoption (Retail / Corporate Reserves):

1. Mastercard partners with Bitget Wallet for a no-fee crypto card:
   Another month, another crypto partnership for Mastercard. Now it’s teaming up with Bitget Wallet to launch a no-fee crypto card with automatic crypto-to-fiat conversion. Bitget Wallet users can instantly apply for the card digitally, initially available in Europe and the UK, with plans for Latin America, Australia, and New Zealand.

2. Bittensor: TAO Synergies unveils treasury based on TAO crypto:
   The corporate crypto treasury race is well underway, now extending beyond Bitcoin. The latest is TAO Synergies launching a treasury dedicated to the Bittensor project’s TAO crypto.

3. This Japanese company will pay its CEO exclusively in Bitcoin:
   Japan’s Remixpoint announced it will now pay its CEO entirely in Bitcoin (BTC) to align his interests with shareholders. Remixpoint originally focused on energy consulting but pivoted to crypto, owning exchange BITPoint Japan.

4. France: Sequans raises $384M to launch a Bitcoin treasury:
   French IoT chipmaker Sequans Communications closed a $384 million private funding round on July 8, 2025, to buy Bitcoin and make it the cornerstone of its treasury.

5. This video game company’s stock soars after choosing Ethereum (ETH):
   Crypto treasuries keep making waves. GameSquare, a media and video game firm, saw its GAME stock jump 60% on the Nasdaq yesterday after announcing an ETH treasury plan. It launched a share offering Tuesday, with proceeds to buy Ethereum’s cryptocurrency.

6. BitMine Immersion Technologies raised $250 million to buy Ethereum instead of Bitcoin mining equipment. Founders Fund and Pantera led the round. SharpLink Gaming recently became the largest publicly traded ETH holder with a $463 million purchase. Corporate treasuries are moving beyond Bitcoin-only strategies. BitMine's pivot comes as other mining companies are doubling down on Bitcoin infrastructure.

7. DDC Enterprise, which owns Asian food brands, raised $528 million specifically to buy Bitcoin. They plan to acquire 5,000 BTC over three years. The Hong Kong company already holds 138 BTC bought at $78,582 per coin. They want to build "one of the world's most valuable corporate Bitcoin treasuries" while selling convenience food. Crypto-native firms like Animoca Brands participated in the funding. Over 140 public companies now hold $90.9 billion worth of Bitcoin.

8. Nasdaq-listed Bit Digital has now raised a total of $162.9 million through share offerings to fund its new Ethereum treasury strategy as it exits the bitcoin mining business. Underwriters exercised the full overallotment option, boosting the sale to 86.25 million shares and adding another $21.4 million to last week's raise. The company also plans to gradually convert its existing 417.6 BTC ($45 million) holdings into ETH, building on the 24,434 ETH ($61 million) it already held as of Q1.

9. Metaplanet plans to use their Bitcoin holdings as collateral to acquire businesses, starting with a digital bank in Japan. The company holds 15,555 BTC and wants 210,000 by 2027. Their stock jumped 345% this year. The digital bank target makes sense - they want to provide better banking services than what retail customers get now.

10. SharpLink Gaming reached $527 million in Ethereum holdings after buying another 7,689 ETH last week. Their stock jumped 26%. While MicroStrategy gets attention for Bitcoin, smaller companies are building massive positions in other cryptocurrencies. SharpLink is already approaching the size of major crypto funds.

Partnerships and Funding:

1. American Bitcoin, another Trump family crypto firm, raises $220M:
   The US president’s crypto empire keeps growing. American Bitcoin, a mining company run by Trump’s sons, has raised $220 million. Launched in March, it’s a subsidiary of Hut 8 dedicated to BTC mining. It plans to go public in H2 2025 via a merger with listed Gryphon Digital Mining, trading on Nasdaq under ABTC.

2. PSG and Bitpanda launch new token:
   This week, Bitpanda and Paris Saint-Germain (PSG) unveiled a new token to be launched in the coming days: Vision (VSN). It’s meant to play “a central role in user interactions with new ecosystem features and experiences.” PSG Labs will serve as a “strategic accelerator,” leveraging the club’s fan base for various engagement experiences.

3. The Open Platform has raised $28.5 million in a Series A round led by Ribbit Capital, hitting a $1 billion valuation and unicorn status among TON-focused startups. Pantera Capital also joined the round, backing TOP's mission to support developers building on the Telegram-linked blockchain, The Open Network. TOP plans to use the funds to expand into the U.S., EU, and other regions, focusing on infrastructure, compliance, and go-to-market strategies for its portfolio companies. CEO Andrew Rogozov said the goal is to "onboard a billion users to crypto" by combining TON's blockchain with Telegram's global reach.

4. AI hyperscaler CoreWeave has agreed to buy bitcoin miner Core Scientific in an all-stock deal valuing it at $9 billion, offering a 66% premium to June prices. Core Scientific shareholders will get 0.1235 CoreWeave shares each, giving them less than 10% of the combined company. The deal folds Core Scientific's 1.2 GW data center network into CoreWeave's AI compute business and cancels a prior $10 billion hosting contract between the firms. Core Scientific shares dropped around 20% at one point on Monday following the announcement. The deal, approved by both boards, is set to close in late 2025 pending regulatory and shareholder approval.

Disclaimer: The information disclosed here does not constitute an investment advice ; it is for informational purposes only and does not constitute investment advice. You should do your own research while investing in crypto and only invest money you are ready to lose.