18 Jul 2025, 20:08

21Shares Files for Two Crypto Fund ETFs With the U.S.SEC: Details

The post 21Shares Files for Two Crypto Fund ETFs With the U.S.SEC: Details appeared first on Coinpedia Fintech News 21Shares, a veteran crypto investment company with more than $11 billion in assets under management (AUM), has announced a strategic partnership with Teucrium, an asset management company focused on commodity and futures ETFs. Through the strategic partnership, 21Shares announced that it has filed two Funds – the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF – with the United States Securities and Exchange Commission (SEC). The 21Shares FTSE Crypto 10 Index ETF intends to track a market-cap-weighted index of the top ten largest crypto assets globally. On the other hand, the 21Shares FTSE Crypto 10 ex-BTC Index ETF tracks a separate FTSE Russell index that excludes Bitcoin. “Investors are increasingly looking for diversified and easy-to-access ways to participate in the long-term growth of digital assets, and 21Shares aims to provide ETF structures to satisfy this demand, subject to regulatory approval,” Federico Brokate, Head of U.S. Business at 21Shares, noted . 21Shares Focuses on Crypto Tokenization Amid Regulatory Clarity The two crypto funds by 21Shares tap into tested regulations for securities and tokenization in the United States. For instance, the two funds will be structured under the 1940 Act funds, and offer investors a more familiar taxation. “The methodology and structure behind our digital asset pricing and indices were developed to give investors strategic allocation tools”, said Kristen Mierzwa, Head of Digital Assets at FTSE Russell. The tokenization of crypto assets, which is under the jurisdiction of the SEC, will play a crucial role in the mainstream adoption of digital assets by institutional investors. Already, President Donald Trump has signed into law the GENIUS Act after a majority supported it in the Senate and the House of Representatives.

18 Jul 2025, 19:47

Ex-Pump.fun Dev Behind $2M Theft Jailed in London for Bail Breach, Faces 7+ Years Prison

Former Pump.fun senior developer Jarett Dunn sits in a London prison after breaching his bail conditions while awaiting trial for stealing approximately $2 million from the launchpad in May 2024, according to reports. The Canadian national, who had initially pleaded guilty to fraud charges, is now attempting to withdraw his plea and faces at least seven years in prison. His detention comes as his former employer has transformed into one of crypto’s most successful platforms, recently completing a $600 million initial coin offering and surpassing $770 million in lifetime revenue. NEWS: According to Decrypt, ex- @pumpdotfun senior dev @STACCoverflow (Jarett Dunn) is jailed in London for breaching bail conditions and faces at least 7 years in prison. Last year, he stole ~$2M from PumpFun and sent it to a random address.. pic.twitter.com/5mQGwwUppN — SolanaFloor (@SolanaFloor) July 18, 2025 The Theft and Its Aftermath Dunn’s attack on Pump.fun occurred during his brief six-week employment with the company in May 2024, when he exploited his access to private keys to drain funds from bonding curve contracts. The stolen SOL tokens, worth approximately $2 million, were intended for transfer to the Raydium decentralized exchange, but were instead diverted to unrelated wallet addresses. Rather than keeping the funds, Dunn immediately began airdropping the stolen tokens to random wallet addresses, selecting holders of various Solana tokens and NFTs as unwitting recipients. His actions prompted Pump.fun to temporarily shut down its platform while it investigated the breach and cooperated with law enforcement. Within minutes of the exploit, Dunn claimed responsibility through his Twitter account, posting erratically about his actions and motivations. “Everybody be cool, this is robbery,” he wrote , adding that he was “about to change the course of history” and expected to “rot in jail.” And now; Magick: everybody be cool, this is a r o b b e r y. What it do, staccattack? I'm about to change the course of history. n then rot in jail. am I sane? nah. am I well? v much not. do I want for anything? my mom raised from the dead n barring that: /x — stacc's futard arc. (@STACCoverflow) May 16, 2024 During a Twitter Spaces session immediately following the attack, Dunn expressed his disdain for the platform he had targeted. “I just kind of wanted to kill Pump.fun because it’s something to do,” he stated, claiming the platform had “inadvertently hurt people for a long time.” He described the company as “horribly managed” and said he had “personal grievances” against its leadership. Dunn initially pleaded guilty to fraud charges in October 2024, but requested to withdraw his plea during what was scheduled to be his sentencing hearing. His legal team subsequently quit the case, leaving him to handle the complex legal proceedings while living in London under bail conditions that included movement restrictions and electronic monitoring. The breach of his bail conditions occurred in early June 2025 when Dunn moved from London to Liverpool without authorization, violating the terms of his release. He was subsequently arrested and held at Walton Prison in Liverpool before being transferred to HMP Pentonville in London, where he remains on remand, awaiting a formal hearing to withdraw his guilty plea. His friend Mark Kelly, who has been communicating with Dunn through calls from behind bars, confirmed details of the bail breach to media outlets. “He’s remarkably cool and zenlike considering his situation,” Kelly said. The Growing Epidemic of Crypto Insider Attacks Dunn’s case contributes to a growing trend of insider threats within the cryptocurrency industry, where employees with privileged access exploit their positions for personal gain or ideological reasons. Recent incidents include Coinbase rejecting a $20 million ransom demand in May 2025 after overseas support staff were bribed to leak user data, and Pond.fun suffering a hack in March 2025 , allegedly perpetrated by its own lead software engineer who drained liquidity through blockchain privacy protocols. @Coinbase has disclosed a data breach involving a small subset of customer information. #Coinbase #DataBreach https://t.co/qfBEmf3Cc0 — Cryptonews.com (@cryptonews) May 15, 2025 South Korea also recently sentenced an illegal XRP exchange operator to eight years in prison for defrauding investors of $3.4 million . Since Dunn’s attack, the platform has evolved from operating out of a WeWork office in London to become what analysts describe as “one of the most used apps in crypto history.” Despite the success of Pump.fun, it has also been continually criticized for allegedly facilitating pump-and-dump schemes and questionable promotional tactics. The post Ex-Pump.fun Dev Behind $2M Theft Jailed in London for Bail Breach, Faces 7+ Years Prison appeared first on Cryptonews .

18 Jul 2025, 19:26

Trump Signs GENIUS Act Into Law, Elevating First Major Crypto Effort to Become Policy

WASHINGTON, D.C. — President Donald Trump fulfilled part of his vow to establish U.S. crypto regulations on Friday, signing legislation into law that formally established rules for stablecoin issuers — marking a first step that the digital assets industry hopes will end with the more important regulatory regime governing the wider crypto markets. Before a crowd of crypto executives in the East Room of the White House, a jubilant Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which registered a massive 308-122 bipartisan vote in the House of Representatives on Thursday and an earlier 68-30 vote in the Senate — demonstrating a huge margin of support from Democrats. Trump walked into a packed East Room filled with applauding lawmakers and industry leaders, including Coinbase's Brian Armstrong, Tether's Paolo Ardoino, Circle's Jeremy Allaire, Gemini's Cameron and Tyler Winklevoss, Kraken's Dave Ripley and "So congratulations, you've come a long way since the Biden administration, when they had no idea what you were all talking about, and half of you are under arrest," he joked at the outset. Trump called out various members of Congress by name, alongside members of his Cabinet, saying they were instrumental in moving the legislation, as well as various industry leaders attending the ceremony. "Let me say, the entire crypto community, for years, you were mocked and dismissed and counted out," he said. "You were counted out as little as a year and a half ago, but this signing is a massive validation." The GENIUS Act will now be forwarded to the federal financial and banking agencies that must implement its various provisions. That will include formalizing the definitions for what kind of firms make acceptable issuers of stablecoins, which is a field currently dominated by Tether's USDT and Circle's USDC, though Wall Street institutions have been jumping into the space at a rapid pace. Implementation of a law by federal regulators can be a drawn-out process, but GENIUS at least gives the industry a broad roadmap for how its U.S. interactions will look in the future. So pressure now shifts from lobbying to execution for stablecoin companies. "The act sets a necessarily compliance baseline, but whether stablecoins can deliver their promise will depend on how effectively stablecoin issuers disclose reserves, implement operational safeguards, maintain robust governance practices and ensure structural alignment between issuers interests and consumer protection," noted Rajeev Bamra, an associate managing director for digital economy at Moody's Ratings, in a statement. "With broader adoption comes greater systemic responsibility of market participants." The industry has come a long way in Washington since its tumultuous 2022 in which several major businesses failed spectacularly, and crypto-supporting lawmakers were burned by the fall of global exchange FTX and its former CEO, Sam Bankman-Fried, who was a fixture in congressional meetings and the industry's D.C. events. But aggressive lobbying and a major campaign-finance push from the industry's Fairshake political action committee during last year's congressional elections elevated the sector into the good graces of the White House and Congress. Trump has declared himself the crypto president, and his administration has routinely called for a "golden age" for the industry to begin. Now that GENIUS is law, the focus shifts toward the bigger task of passing legislation that defines the proper oversight of different forms of cryptocurrency, trading platforms and projects and assigns federal agencies to new roles as watchdogs over these markets. White House Crypto and AI Czar David Sacks took the podium briefly to praise Trump and the legislation, saying that while he's used to the tech world moving quickly, the speed at which GENIUS became law "this was fast for us in Silicon Valley." "This GENIUS Act will unlock American dominance in the crypto industry by creating clear rules of the road," he said. "It will update archaic payment rails with a revolutionary new payment system, and it will extend U.S. dollar dominance, like [Trump] said, globally by creating a digital dollar that people all over the world can use. And for every digital dollar in a crypto wallet, there'll be a traditional dollar in a U.S. bank account, which will create trillions of dollars demand for U.S Treasuries." The Digital Asset Market Clarity Act that also swept through the House with a 294-134 vote on Thursday, at the peak of what lawmakers were calling "Crypto Week," has delivered momentum and a message to the Senate in its ongoing writing of its own market structure bill. Representative French Hill, the chairman of the House Financial Services Committee, urged in a press conference following Thursday's win for the Clarity Act that senators should just take up his bill and amend it rather than embark on their own legislation. "Put it through your process," Hill advised the Senate — specifically Senator Tim Scott, the chairman of the Senate Banking Committee. "Obviously, it's open to amendment. It's a collaborative process." The Senate hasn't yet released a draft of its bill, only a series of principles it intends to follow. So it remains unclear when the crypto advocates may again return to witness Trump signing a market structure bill, though Senator Scott assured the White House he's set a Sept. 30 deadline for Senate action. Read More: Can Tether's Dominance Survive the U.S. Stablecoin Bill?

18 Jul 2025, 19:26

Record XRP Price, Whale Activity, and ETF Launch: Why All Eyes Are on Ripple’s Next Chapter

Why Larsen’s XRP Move Raises Eyebrows On July 17, Larsen transferred 7.6 million XRP worth $30M to ceypro exchange Coinbase just one day before XRP hit a new all-time high (ATH) of $3.65, sparking intense speculation across the crypto community. A transfer of this magnitude from one of XRP's biggest holders invariably creates market ripples. As XRP approached its ATH, such a move naturally triggered speculations , for instance, is Larsen selling, reallocating, or simply managing liquidity? Nevertheless, Larsen’s precise motivations remain undisclosed, but whether it’s a strategic repositioning, partial cash-out, or confidence signal, the transfer exemplifies how XRP’s biggest stakeholders steer both price momentum and market psychology. Paired with regulatory clarity and institutional adoption, this episode signals XRP’s evolution from speculative play to a legitimized fintech asset. Why ProShares XRP Futures ETF Is Being Welcomed With Open Arms The ProShares Ultra XRP ETF under the ticker UXRP has gone live , offering 2× daily leveraged exposure to the Bloomberg XRP futures index, marking a watershed moment for XRP-centered investing. Within days of launch, UXRP saw a surge in trading volume, reflecting its immediate resonance with both institutional and retail investors. Regulatory Clarity & Market Confidence The SEC and NYSE Arca's approval of UXRP, a leveraged XRP futures exchange-traded fund (ETF), is a major regulatory milestone. Coming on the heels of XRP's legal stabilization following Ripple’s favorable 2024 court ruling, this ETF signals that XRP has transitioned from fringe asset to mainstream financial instrument. Plug-and-Play Access for Institutions UXRP brings futures-based XRP exposure into traditional brokerage accounts, bypassing the complexities of wallets, custody, and crypto exchanges. Institutional players, such as hedge funds, asset managers, and proprietary desks, can now tactically leverage XRP positions without grappling with on‑chain custody. Surge in Pre‑Launch Price & Volume In the days leading up to the launch, XRP broke above the $3 psychological ceiling for the first time in months, surging past $3.20 on massive volume of more than 170 million XRP, indicating structured flows. The fear of missing out (FOMO) was further stoked by breakout patterns and tight Bollinger Bands. Structured Leverage & Tactical Alpha UXRP delivers amplified daily returns, whether calls or puts through futures derivatives and daily rebalancing. For traders and tactical investors, this doubles the reward lever compared to spot XRP, while offering a regulated alternative to risky exchange-held leverage. Institutional Inflow and Price Impact Market analysts are eyeing initial flows of more than $500 million with early estimates suggesting that inflows on this scale could push XRP prices toward the psychological price of $4. Meanwhile, XRP recently eclipsed Tether to sit among the top three cryptos by market cap, fueled by ETF momentum. Conclusion ProShares XRP Futures ETF represents a highly anticipated convergence of regulatory recognition, institutional ease-of-access, technical momentum, and leverage-based strategy. Therefore, UXRP isn’t just another ETF, it marks XRP’s official entry into mainstream finance, offering both leverage and legitimacy. Additionally, Whether Ripple co-founder Chris Larsen was cashing in, hedging exposure, or signaling confidence, his $30 million XRP move and the $3.65 ATH that followed represents a flashpoint in XRP’s evolution.

18 Jul 2025, 19:25

dYdX Snaps Up Telegram Trading App That Hit $1B Volume in Under a Year

Key Takeaways: dYdX has acquired Telegram-native app Pocket Protector. Co-founders Eddie Zhang and Kaiser Kinbote will join dYdX as President and Head of Growth. Messaging-integrated trading is emerging as a frictionless gateway to DeFi, especially in markets with limited access to desktop platforms. dYdX has acquired Pocket Protector, a Telegram-native trading app, to expand its product suite and accelerate growth. According to a statement published by dYdX founder Antonio Juliano on July 16, Pocket Protector’s team will join dYdX Trading Inc. as part of the deal, including co-founders Eddie Zhang and Kaiser Kinbote, who will take on the roles of President and Head of Growth, respectively. Pocket Protector’s Developers to Join dYdX The acquisition follows the rapid growth of Pocket Protector’s app, which drew 50,000 users and reached $1 billion in annualized trading volume in under a year. “Eddie will help lead our core team’s day-to-day execution and drive our broader product and go-to-market strategy,” Juliano wrote. “Kaiser will focus on growth, bringing clarity to what matters, and pushing us to operate faster and smarter.” Pocket Protector’s core features, including Telegram-based perps and spot trading, will be incorporated into dYdX’s main platform. Juliano said the team is already working to adapt parts of the bot’s functionality. A four-person engineering team at Pocket Protector will also be integrated into dYdX’s product and engineering divisions. Juliano credited Zhang’s experience leading early Messenger development at Meta and launching consumer-facing products with shaping his decision. “He has strong product instincts, a track record of execution, and a rare ability to zoom between strategy and details,” he wrote. 1/ Some news today: we’re excited to share that we’ve been acquired by @dYdX ! The Pocket Protector you know and love isn’t going anywhere, and we’re excited to be building better and faster for you. — Pocket Protector (@pp_trading) July 18, 2025 From Infrastructure to Users dYdX has now positioned itself to scale beyond early infrastructure-building into user-facing expansion. “We’re no longer just proving the idea, we’re scaling it,” Juliano said. He added that dYdX is hiring across research and engineering roles to support the product roadmap. “Since then, we’ve spent years focused on 0→1,” he wrote. “Now is the moment to go from 1→n: delivering exceptional user experience, expanding the product surface area, and building the best exchange in crypto.” Telegram-native interfaces are gaining traction across Solana and Ethereum ecosystems, where lightweight apps allow onboarding without browser-based friction. In the meantime, exchanges may increasingly compete not just on liquidity and fees but on interface flexibility, user flow, and community retention. Integrating social tools into core trading infrastructure could become a differentiator in retail market share, especially in regions where messaging apps serve as primary financial access points. Are there regulatory implications for exchanges operating through social platforms? Yes, integrating with global messaging platforms could raise jurisdictional challenges around financial communication, user verification, and cross-border compliance. What makes social trading tools competitive in user retention? Features like in-app alerts, shared strategies, and group trading discussions create embedded communities, increasing user engagement and reducing churn. Could this trend extend beyond Telegram? Yes. Similar models may expand into WhatsApp or other high-usage chat platforms, provided technical integration and local compliance frameworks align. The post dYdX Snaps Up Telegram Trading App That Hit $1B Volume in Under a Year appeared first on Cryptonews .

18 Jul 2025, 19:24

Binance Publishes Latest Detailed Market Report: Mentions Numerous Altcoins, Shares 10 Themes Expected to Be Popular

According to the digital asset market report for the first half of 2025 published by Binance Research, the total market value of cryptocurrencies has increased by 1.99 percent since the beginning of the year. Following the massive 96.2 percent rise in 2024, this more moderate increase is considered a signal reflecting cautious optimism from investors. According to the report, the market experienced an 18.61% decline in the first quarter of 2025 but recovered 25.32% in the second quarter, closing the year in positive territory. While global markets experienced volatility during this period due to rising geopolitical tensions and customs duties, this situation presented both risks and opportunities to crypto markets. According to a Binance report, Bitcoin outperformed most traditional stock indices with a 13% increase in value in the first half of 2025. With a market capitalization of over $2 trillion and a 65.1% market dominance, its highest level in four years, BTC remains a favorite asset of institutional investors. Spot Bitcoin ETFs played a significant role in this growth, while more than 140 companies held a total of 848,100 BTC, demonstrating institutional adoption. According to the report, Bitcoin's fundamental economic model is also undergoing transformation. Despite the slowdown in on-chain activity, Bitcoin's use in the DeFi (BTCFi) space has increased by over 550% year-over-year. Network security and hash rates remain strong. Layer 1 (L1) blockchains performed differently in the first half of the year. Ethereum maintained its leadership with the Pectra update and strong institutional inflows, while Solana attracted attention with its high transaction volume and increased reliability. BNB Chain broke records in decentralized exchange (DEX) activity and diversified its offerings with memecoins, real-world assets (RWA), and AI-based applications. According to the report, Avalanche grew in enterprise subnets, while Sui chain doubled its DeFi TVL. Tron continued to play a central role in stablecoin transactions, and TON deepened its strategic integration with Telegram. Ethereum Layer 2 (L2) solutions presented a more complex picture. Optimistic rollups maintained their liquidity leadership, while Base and Arbitrum stood out with their sustainable revenue models. ZK rollups, while making technical advancements, lagged behind in terms of TVL and user engagement. Progress in sequencer decentralization and Stage 2 preparations paint a more complex picture. According to Binance, the decentralized finance (DeFi) space transitioned to a more institutional and sustainable structure in the first half of 2025. While total assets locked (TVL) remained stable at approximately $151.5 billion, the number of monthly active users increased by 240 percent year-over-year. DEXs' share of spot trading volume reached a record 29 percent. Among the notable developments were restaking led by EigenLayer and prediction markets strengthened by the Polymarket-X collaboration. The stablecoin market also continued to grow. Total market capitalization broke a record, surpassing $250 billion. Tether (USDT) maintained its leadership with a market capitalization of $153–156 billion, while Circle's USDC nearly doubled its supply to $61.5 billion. The US Senate's passage of the GENIUS Act and the enactment of MiCA regulations in Europe were key factors in boosting institutional confidence. Related News: Strong Rally Continues in Ethereum: Analyst Shares His Target Price Level -“It No Longer Seems Unrealistic” As institutional adoption accelerates, innovation in products focused on individual users has also attracted attention. Crypto wallets have evolved into super apps, while DeFi has integrated with traditional banking. Memecoins and cryptocurrency games have gained prominence for their cultural impact. Developments in this area demonstrate the potential for crypto to impact everyday life beyond finance. Integration with artificial intelligence and physical infrastructure was a prominent theme in the first half of the year. Decentralized Financial Artificial Intelligence (DeFAI) enabled automated decision-making in DeFi protocols, while Decentralized Physical Infrastructure Networks (DePIN) extended blockchains into the physical world. According to the report, these developments demonstrate that Web3 offers a new economic model that bridges the virtual and physical worlds. With Donald Trump's return to the presidency, the US has taken crypto-friendly steps, while Europe has implemented stricter regulations. In Asia, Hong Kong has fostered innovation with open licensing and tax incentives, while Singapore's strict regulations have led to an exodus from the sector. Progress has also been made in international tax transparency and regulatory compliance. Binance Research lists 10 key themes that it expects to emerge in the second half of 2025: macroeconomic outlook, regulatory developments, Bitcoin's cyclical role, stablecoin integration into financial infrastructure, real-world assets, artificial intelligence, consumer experience, Ethereum scalability, Layer 2 competition, and decentralized infrastructures. *This is not investment advice. Continue Reading: Binance Publishes Latest Detailed Market Report: Mentions Numerous Altcoins, Shares 10 Themes Expected to Be Popular