Crypto Weekly Roundup: Ripple-SEC Saga Ends, Truth Social Targets ETFs, & More

This week in crypto, Ripple and the SEC officially ended their five-year legal battle, though key penalties and restrictions on XRP sales remain. Major firms, including Bakkt, GameStop, and Trump’s Truth Social, made bold moves toward Bitcoin and crypto ETFs, while on the regulatory front, Kraken secured a MiCA license in Europe, Texas legalized Bitcoin reserves, and a U.S. senator proposed a crypto ban for top officials. Bitcoin Bakkt Holdings has filed for a $1 billion shelf offering with the SEC, indicating plans to acquire Bitcoin as part of its expanded treasury strategy. Business GameStop has raised $2.7 billion through a convertible notes offering and may allocate part of the proceeds to Bitcoin under its revised treasury policy, though future crypto purchases remain unconfirmed. Crypto hardware wallet firm Ledger has secured its first professional sports jersey sponsorship through a newly announced multi-year partnership with the NBA’s San Antonio Spurs. Trump Media & Technology Group has filed to launch a Bitcoin and Ethereum ETF on the NYSE, raising fresh concerns over potential conflicts as the former president promotes crypto while seeking reelection. Metaplanet has allocated an additional $5 billion to its U.S. subsidiary, accelerating its ambitious plan to acquire 210,000 BTC by 2027 and expand its global Bitcoin treasury operations. Web3 Moonveil, a Layer 2 gaming-focused chain, has confirmed the launch of its native token, $MORE , on Binance Alpha, followed by listings on a series of leading centralized exchanges, including Gate, MEXC, Bitget, KuCoin, BingX, and LBank. Edwin has officially launched its AI-powered terminal designed to simplify DeFi access by offering a conversational, non-custodial assistant, also called edwin , that helps users navigate onchain services through intuitive chat-based interactions. InfoFi is a decentralized finance offshoot that uses AI and blockchain to tokenize valuable data, like market trends and social sentiment, transforming it into a tradable asset within the attention economy. The multichain crypto swapping protocol Jumper Exchange is enhancing its already-extensive interoperability by adding support for the Tezos Layer-2 network Etherlink. This will enable crypto traders and DeFi users to bridge assets between Etherlink and more than 50 blockchains and Layer-2s, including Ethereum, Base, and Arbitrum. Impossible Cloud Network (ICN) and Moonveil have partnered up to revolutionize the Web 3 gaming ecosystem, allowing for fully decentralized and trustless games on Moonveil by leveraging Impossible Cloud Network’s (ICN) decentralized multi-service cloud platform. Modular blockchain Cartesi’s latest build of its Honeypot application, Honeypot v2 , boasts Permissionless Refereed Tournaments (PRT), designed to ensure rollup resistance to Sybil attacks without forcing networks to rely on permissioned validators or heavy hardware. Regulation Ripple and the United States Securities and Exchange Commission (SEC) have agreed to drop all appeals and end their five-year legal battle. However, Ripple and the SEC’s joint efforts failed when a U.S. judge refused to slash the penalty and lift an injunction in the XRP case, keeping key restrictions on Ripple’s institutional token sales intact. Kraken has obtained a Markets in Crypto-Assets (MiCA) license from Ireland’s central bank, enabling it to deliver regulated crypto services across 30 European states, strengthening its foothold in a rapidly evolving regulatory environment. U.S. Senator Adam Schiff has introduced new legislation seeking to bar the President, Vice President, and their families from profiting through cryptocurrency ventures while holding office. Texas has officially established a legal framework for holding Bitcoin as part of its financial reserves, following the signing of Senate Bill 21 by Governor Greg Abbott on June 21, 2025. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: Crypto Daily