Crypto Weekly Roundup: BlackRock IBIT Mints Profit, Trump's Multi-Million Crypto Holdings, & More

This week, a report disclosed that the Trump family’s crypto holdings crossed $620 million amid a $220 million Bitcoin mining raise. Regulatory activity intensified with U.S. lawmakers announcing an upcoming "Crypto Week" and Ripple settling its long-running SEC dispute. On the other hand, FTX is struggling with repayments in 49 regions, including China, which has a pretty strict crypto ban. Let’s find out more. 

DeFi

Graphite Network’s Phonebook MVP is a practical, real-world application of decentralized tech built to introduce transparency and reputation scoring to phone numbers.

Business

Stablecoin issuer Circle has formally applied to establish a federally regulated national trust bank in the United States, a move aimed at enhancing oversight of its USDC stablecoin reserves and aligning with evolving regulatory frameworks for digital assets.

BlackRock’s flagship spot Bitcoin ETF, IBIT, has become the asset manager’s third-highest revenue-generating fund, sitting only behind the iShares Russell 1000 Growth ETF and the iShares MSCI EAFE ETF. 

The FTX Recovery Trust has suspended repayments to creditors in 49 regions where cryptocurrency operations face legal restrictions, with Chinese users accounting for the majority of the disputed claims.

Fresh disclosures reveal the Trump family’s cryptocurrency holdings have swelled to over $620 million, with memecoins, token sales, and blockchain ventures rapidly becoming one of the most lucrative segments of their portfolio.

Trump-affiliated American Bitcoin has raised $220 million to upgrade its mining infrastructure, expand its Bitcoin treasury, and advance plans for a public listing amid growing institutional interest in cryptocurrency mining.

Germany’s largest banking group, Sparkassen-Finanzgruppe, will introduce cryptocurrency trading by mid-2026, integrating the service into its flagship banking app while maintaining a cautious stance on digital assets.

Web3

Cronos has joined the sub-second blockchain club, rolling out a key upgrade that reduces its block confirmation times by ten times. 

SCOR on Sweet, a growing Web3 mini-app ecosystem, has announced the launch of its latest mini-game, Flappy Racquet, coinciding with the start of Wimbledon. Inspired by the popular mobile game Flappy Bird, Flappy Racquet introduces an arcade-style tennis experience, allowing users to compete using animated avatars of professional tennis players.

Layer 1 blockchain Dymension has kicked off season two of its Genesis Rolldrop, which awards tokens to eligible participants including DYM stakers.

In a landmark partnership, Nexo, one of the leading digital assets wealth platforms, will be sponsoring the DP World Tour, the main men’s professional golf tour of the European Tour group, for the next three years.

The Zenswap DEX has now launched in beta, promising true cross-chain swaps that eliminate reliance on bridges or wrapped tokens.

Regulation

U.S. House Republicans have declared a dedicated "Crypto Week" to accelerate passage of landmark bills on digital assets, stablecoins, and CBDC restrictions.

The International Monetary Fund (IMF) has dismissed Pakistan’s proposal to provide subsidised electricity rates for crypto mining operations, citing concerns about market distortions and further strain on the country’s already burdened power sector. 

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Russia-based bulletproof hosting provider Aeza Group, targeting its infrastructure, executives, and a cryptocurrency wallet allegedly linked to illicit activities.

Ripple and the United States Securities and Exchange Commission (SEC) have agreed to drop all appeals and end their five-year legal battle. 

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.