Trump Signs GENIUS Act Into Law

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💵 Weekly Crypto Fundraises & Deals

Here are all the crypto fundraises we heard about this week, ranked by size…

1. GameSquare, a media and technology firm, has raised $70M in a public token sale, led by multiple investors in a public offering

2. Plasma, a blockchain protocol designed to enhance Ethereum's scalability, has raised $50M, led by multiple investors in a public token sale

3. Spiko, a tokenized money market fund platform, has raised $22M in Series A funding, led by Index Ventures

4. Blockskye, a startup developing blockchain infrastructure for corporate travel, has raised $15.8M in a Series C funding round, led by Blockchange

5. ACM+, a privacy-centric financial protocol enabling decentralized, cross-chain, and untraceable asset transfers, has raised $12M in seed round, led by asvacapital

🗞️ Crypto News Recap: The Top 5 Stories

Welcome back to This Week in Crypto… everything you need to know in one scannable format. Here are the top 5 stories of the week…

1. 🚀 Trump signs GENIUS Act into law, activating America’s first regulatory framework for stablecoins:President Donald Trump signed the GENIUS Act into law on July 18, pledging that the measure will secure “global dominance” in crypto technology.The legislation gives the US its first federal framework for dollar‑backed stablecoins. Trump celebrated the passing of the bill, saying:“Crypto has gone up more than any stock. Crypto makes the dollar look good. Crypto is good for the dollar, the nation.”

2. 📈 PNC Bank Announces Strategic Partnership with Coinbase: The bank will offer clients access to digital assets via Coinbase, as well as select banking services to the exchange.

   

3. ⚖️ Polymarket Strikes $112 Million Deal to Return to the United States: The prediction market acquired CFTC-compliant exchange, QCX, which will allow it to reenter the U.S. market.

   

4. 🤑 SOL Flips BNB on Back of Multi-Million Dollar Treasury Bet and DeFi Surge: Solana (SOL) regained its place as the fifth-largest cryptocurrency by market capitalization on Tuesday, surpassing BNB, as its price briefly rose above $200 for the first time since February.

   

5. ✈️ TON Wallet Launches in US, Bringing Telegram-Integrated Crypto to Millions of Users: TON Wallet, which is natively integrated into popular messenger Telegram in many countries, is now available in the United States, enabling people to send, receive, and store digital assets directly within the messaging app.

   

💬 Tweet of the Week

📊 Key Stats of the Week

Here are the most important and interesting stats in crypto this week...

1. 📈 As the Preferred Network for USDT, TRON Continues Evolving to Meet Growing Institutional Demand

2. 📈 TON’s Ecosystem, Powered By Its Telegram Partnership, Enables Games, NFTs, DeFi and Payments Solutions

3. 📈 SKALE’s Growth in Transactions, Gas Fee Savings, and Dominance in Blockchain-Based Gaming Highlight Its Position as the Home for High Performance Apps

4. 📈 Player-Driven Economies are Gaining Momentum on Ronin, Fueled by Rising Network Activity and Stronger Economic Value

5. 📈 Sonic is the First Layer 1 Where Apps Earn 90% of Gas Fees, Driving Over 1.5M Daily Transactions, 3,700 Real TPS and a Thriving DeFi Economy

📝 Highlights from the Top Crypto Reports

Here are the top highlights from the best crypto research reports this week…

ON–355: Layer 1s Part 2 🛣️

About the Author: OurNetwork, aims to help you understand crypto like never before by harnessing the power of onchain data & analytics. This is an excerpt from the full article, which you can find here.

📝 Editor’s Note:

After covering six of the most dynamic Layer 1s in the space last week, we’re back again with another six.

Leading off we have Nitin of Top Ledger, reporting on Solana’s app ecosystem, where applications are out-earning the base protocol. Sam checked in with TRON's deepening dominance with USDT transfers. Pavel examined at TON's surprising NFT volume and Jordan covered SKALE's continuous momentum in gaming. Peter looked at Ronin's surging active addresses and Alex took on Sonic's novel, app-fee-sharing model.

Let's get into it.

– ON Editorial Team

📈 Solana Is Healthy and Thriving with Ecosystem and Revenue Trending Up On a Customer, Revenue, Developer and Performance Basis

The Solana ecosystem is on the uptrend after the brief lull in February and March. Active and new wallets are now up around 84M after hitting mid 60M in February and March.

Real transactions-per-second (TPS), which is non-vote successful transactions, have doubled to 1.2k from the lows of 600 TPS last year. With further technical improvements and increased block space, TPS is likely to continue its uptrend, making Solana one of the chains suitable to replace TradFi use cases.

A healthy sign of a blockchain ecosystem is applications earning more revenue than the underlying protocol. In the case of Solana, the applications are constantly earning over 2.5 times the Real Economic Value (REV) of the Solana blockchain, with June closing at $116M in revenue for applications and $47M in REV for the network.

🎧 Top Crypto Podcasts of The Week

Here are the crypto podcasts that are worth listening to this week...

1. Bankless - ETH Breaks New Records While BTC Hits ANOTHER All Time High

2. The Defiant - From Crisis to Comeback: How Euler Labs Survived a $200M Hack to Thrive in DeFi | Michael Bentley

3. Coin Bureau - Ethereum vs Solana: ETH & SOL Potential in Altcoin Season!

4. The Breakdown: The Five Most Important Stories in Crypto This Week

5. Forward Guidance: The Great Ponzi-fication Of Markets | Weekly Roundup

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Join our Telegram Channel here to chat with our community, ask questions, and learn more about the future of money as we move to a decentralized internet and the creation of a new open global monetary system that works for everyone.

💬 The People We’re Following Closely on Twitter

1. Vitalik Buterin

2. Justin Drake

3. Hayden Adams

4. Hasu

5. Ryan Adams

6. Vance Spencer

7. Camila Russo

8. Ryan Selkis

9. Anthony Sassano

10. Lyn Alden

11. Gavin Wood

12. Cathy Wood

13. Beniamin Mincu

14. Barry Silbert

15. David Hoffman

16. Preston Pysh

17. Willy Woo

18. Ultra Sound Money List

19. Polkadot Ecosystem List

📚 How To Get Started With Crypto Learning

1. Crypto: Explain It Like I’m 5 (Article)

2. The Infinite Machine by Camila Russo (Book)

3. Crypto Theses for 2021 by Messari (PDF)

4. Bankless - The DeFi community (Substack + Podcast + Discord)

5. Understanding Polkadot - The Next Generation Blockchain Tech (Website)

6. The Ethereum 2.0 Report from Messari (PDF)

7. Blockgeeks Video Tutorials (Video)

8. The Coinstack Website (Website)

9. 2008 Bitcoin Whitepaper (PDF)

10. 2013 Ethereum Whitepaper (PDF)

📰 The Coinstack Newsletter:

Tracking the most important blockchain stories of the 2020s, including a decentralized internet and the creation of a new open global monetary system that works for everyone. As always, published for informational purposes only. Please do your own research. Just our opinions. Not intended as financial advice as we are not financial advisors. We may own some of the digital assets we write about as we believe strongly in the sector. Please do your own research. Published and written weekly by Ryan Allis and Mike Gavela.

Coinstack is a news and analysis newsletter for the digital asset industry. None of the information here is a recommendation to invest in any securities or other types of investments. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All investments involve risk and may result in loss.

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