Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.
Here’s what happened in crypto this week:
CFTC To Create Pathway For US Citizens To Trade On Offshore Exchanges Such As Binance, Bybit, OKX
The Commodity Futures Trading Commission (CFTC) might soon announce regulations allowing US citizens to trade on offshore crypto exchanges like Binance, Bybit, and OKX.
“Starting now, the CFTC welcomes back Americans that want to trade efficiently and safely under CFTC regulations, and opens up US markets to the rest of the world. It’s just another example of how the CFTC will continue to deliver wins for President Trump as part of our crypto sprint,” Acting Chairman Caroline Pham said.
If confirmed, this could bridge a gap for American traders who are often pushed to use VPNs or other workarounds. It may also pressure exchanges to align with US compliance standards.
Chainlink And Pyth Network Partners With The US Department Of Commerce To Bring Macroeconomic Data Onchain
The US Department of Commerce partners with Chainlink and Pyth to publish key economic data on blockchain, modernizing public data infrastructure.
Real-time indicators, such as PCE, GDP, and sales data, will be distributed via Ethereum, Solana, and Bitcoin, aligning with traditional reporting schedules.
Chainlink Data Feeds and Pyth’s verification system enable DeFi, prediction markets, and automated trading to access tamper-proof macroeconomic insights.
The initiative aligns with the “Deploying American Blockchains Act of 2025,” reinforcing US leadership in blockchain-driven financial innovation and transparency.
The Sandbox Cuts 50% Staff, Restructures As Animoca Brands Take Control
The Sandbox, a metaverse platform, has slashed 50% of its workforce and undergone a major restructuring as Animoca Brands assumes control.
Animoca Brands is a major player in Web3 gaming and has taken the reins at The Sandbox, pushing out founders Sébastien Borget and Arthur Madrid from active roles. This follows a steep valuation drop from $4 billion in 2022 to $ 1 billion.
The layoffs affect over 250 staff members, with five global offices set to close.
Japan Post Bank Plans Digital Currency To Revitalize $1.3 Trillion In Deposits
Japan Post Bank is set to launch a digital currency by 2026, aiming to activate $1.3 trillion in deposits by enabling fast trading of security tokens and NFTs.
The bank, sitting on a massive ¥190 trillion deposit base, views this digital currency, dubbed $DCJPY, as a means to modernize and attract a tech-savvy demographic.
The initiative promises instant swaps with savings accounts and aims to support local governments in distributing subsidies.
Sonic Labs Passes $150 Million Proposal To Expand Into US Capital Markets
Sonic Labs has secured community approval for a $150 million proposal to enter the US capital markets, targeting a Nasdaq PIPE (Private Investment in Public Equity) listing and the launch of a crypto exchange-traded fund (ETF) to achieve mainstream financial integration.
This governance vote marks a bold step for Sonic Labs, formerly tied to Fantom, as it sets up Sonic USA LLC to navigate regulatory waters and bridge DeFi with traditional finance.
The plan includes heavyweight partnerships, such as custody with BitGo, and aims to attract institutional capital through structured financial products, potentially reshaping the dynamics of the $S token.
Trump-Backed World Liberty Financial (WLFI) Token Starts Trading On Exchanges
The Trump family-backed World Liberty Financial (WLFI) token has launched trading on major exchanges, including Binance and OKX, boasting a staggering valuation of over $30 billion, which has stirred massive market buzz.
Ahead of the listing, WLFI’s valuation skyrocketed, with reports of a 21x increase from earlier token sales at $0.015 to a listing price around $0.32 on Binance. The derivatives volume also surged 400%, hinting at a speculative fever.
A primary token unlock event released billions of tokens, with early investors potentially seeing huge returns. However, the Trump family’s significant control over WLFI supply raises questions about centralization risks in this DeFi venture.
Ethereum Shuts Down Holesky Testnet After Fusaka Upgrade
Ethereum developers have shut down the Holesky testnet, which was launched in September 2023 to replace the Goerli testnet.
The closure comes as part of ongoing efforts to streamline Ethereum’s testing environment and prepare for future upgrades.
While Holesky played a key role in simulating validator activity and stress-testing the network, developers will transition testing to other networks to ensure smoother scaling and protocol development.
Kraken And Backed Bring Tokenized Equities Offering To Ethereum Mainnet
Kraken and Backed have launched their tokenized equities platform, xStocks, on the Ethereum mainnet, broadening access to on-chain stock trading with a major blockchain integration.
This expansion of xStocks to Ethereum taps into one of the largest blockchain ecosystems, leveraging its deep liquidity and vast user base for tokenized assets.
Following rollouts on Solana, BNB Chain, and TRON, this step reflects a clear strategy to bridge traditional finance with DeFi across multiple networks.
US SEC, CFTC Combine Forces To Clear Registered Firms’ Trading Of Spot Crypto
The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have joined hands to allow registered firms to trade spot crypto assets, marking a significant step toward regulatory clarity for crypto markets under existing laws.
This collaboration, dubbed “Project Crypto-Crypto Sprint,” enables designated contract markets and national securities exchanges to list spot crypto products, including leveraged and margined offerings, without needing new legislation.
This move could streamline access for US investors to trade digital assets on regulated platforms, potentially reducing reliance on offshore exchanges while enhancing oversight and investor protection mechanisms.
Final Thoughts
So that’s it for this week!
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Have a fantastic week ahead!
