Daily News: US Crypto Assets Custody Guidelines Issued, Kazakhstan to Launch State Crypto Reserve, SharpLink Tops ETH Holding Entities, And More

U.S. Regulatory Agencies Issue Custody Guidelines for Crypto Assets

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have released a joint statement providing guidance for banking institutions offering crypto asset custody services.

The statement clarifies that banks can provide crypto asset custody services either in a fiduciary or non-fiduciary capacity but must strictly manage the security risks associated with crypto key management. Regulators emphasize that banks must establish comprehensive risk management frameworks, including secure key generation and storage, anti-money laundering compliance, third-party risk management, and thorough audit procedures.

This guidance applies to crypto custody services within the existing regulatory framework and does not create new regulatory expectations.

Trump Threatens 100% Tariffs on Russia Over Ukraine Peace Deal

Trump threatens Russia's trade relations, urging the country to reach a peace deal with Ukraine. He emphasized that without a resolution, economic consequences could escalate, putting additional pressure on Russia to negotiate. This statement reflects ongoing tensions and the push for diplomatic solutions to the conflict.

Kazakhstan to Launch State Crypto Reserve Using Seized and Mined Assets

Kazakhstan's National Bank announced plans to explore investing part of its gold and foreign currency reserves, as well as assets from the National Fund, into crypto-related funds or companies. Citing examples from Norway, the U.S., and the Middle East, the bank aims to adopt aggressive strategies for higher returns while acknowledging the volatility of such investments. Additionally, the country is considering creating a state crypto reserve to store confiscated digital assets and introducing infrastructure to support this initiative.

SharpLink Gaming Surpasses Ethereum Foundation in ETH Holdings

SharpLink Gaming added 16,374 ETH to its portfolio, bringing its total holdings to 270,000 ETH. This surpasses the Ethereum Foundation's 242,500 ETH, making SharpLink Gaming the largest ETH holder.

Gemini Adds Tokenized Stocks of Nike, McDonald's, and More for EU Investors

crypto trading platform Gemini has introduced a new batch of tokenized stocks for EU investors, including well-known U.S. companies such as Nike (NKE), McDonald’s (MCD), Starbucks (SBUX), Coca-Cola (KO), and Yum! Brands (YUM). These tokenized stocks are issued on the Arbitrum blockchain and are pegged 1:1 to real stocks. Investors can trade fractional shares and enjoy 24/7 trading without the need for a U.S. brokerage account.

Ondo Finance Acquires Strangelove to Strengthen RWA Platform

Ondo Finance acquired blockchain development company Strangelove to significantly expand its engineering and product capabilities for developing tokenized real-world asset (RWA) infrastructure. The acquisition brings Strangelove's expertise in building secure, modular blockchain infrastructure across multiple ecosystems.

As part of the acquisition, Strangelove's Chief Executive Officer Jack Zampolin will join Ondo Finance as Vice President of Product, whose leadership will help expand Ondo's technology roadmap and accelerate the launch of its upcoming blockchain.

BlackRock's Bitcoin ETF Achieves Record Profitability

BlackRock's iShares Bitcoin Trust ETF (IBIT) has solidified its position as the most profitable ETF in the company's portfolio, reaching nearly $100 billion in assets under management (AUM) by July 2025. This milestone reflects strong institutional demand for Bitcoin, driven by significant inflows and Bitcoin's price surge. Since its launch in January 2024, IBIT has delivered an 82.67% total return and now holds over 700,000 BTC, representing more than half of all Bitcoin held by US spot Bitcoin ETFs. Its success underscores the growing adoption of cryptocurrency by institutional investors and its role in bridging traditional finance with the evolving crypto economy.

Market News: Grayscale Secretly Files IPO Registration Draft with U.S. SEC

According to market sources, Grayscale has secretly filed an initial public offering (IPO) registration draft with the U.S. Securities and Exchange Commission (SEC).

Binance Wallet Partners with Four.Meme to Launch Exclusive TGE with Bonding Curve

Binance Wallet announced the launch of a new Token Generation Event (TGE) model that will adopt a Bonding Curve mechanism—a dynamic pricing method that adjusts token prices based on demand, according to an official announcement. This TGE is launched through a partnership between Binance and Four.Meme, marking the first TGE on the Binance platform to adopt this mechanism.

Bonding Curve is a dynamic pricing model where, during the TGE, the number of tokens purchased directly from the Bonding Curve contract triggers automatic adjustments to token prices. As the number of tokens purchased increases, prices gradually rise along a preset curve. This means that throughout the entire event, token prices are not fixed but fluctuate according to demand.

Sonnet BioTherapeutics Merges to Form Hyperliquid Strategies, Launch HYPE Treasury

Sonnet BioTherapeutics (NYSE: BIO) agreed to merge with Rorschach I LLC, forming Hyperliquid Strategies, Inc., a public crypto treasury company. The new entity will hold 12.6 million HYPE tokens and $305 million in cash, with an estimated value of $888 million at closing. Strategic investors such as Paradigm, Galaxy Digital, and Pantera Capital are involved, and the company aims to establish a leading crypto treasury management strategy.

CMB International Receives Approval for Hong Kong Virtual Asset License

CMB International Securities Limited ("CMB International") received formal approval from the Hong Kong Securities and Futures Commission on July 14, becoming the first Chinese bank-affiliated brokerage in Hong Kong to obtain licenses related to virtual asset trading services and other related activities, according to information obtained from the company.

Analysis: Wintermute May Be One of PUMP's Market Makers

According to on-chain analyst @ai_9684xtpa, over the past 11 hours, a series of addresses linked to the pump.fun project transferred 10 PUMP tokens for small-scale testing. Among these addresses was one associated with Wintermute, suggesting that more market-making tokens may be transferred in the next day or two.

Trust Wallet Changes X Profile Picture to Puggy Penguin

Trust Wallet has changed its X account profile picture to a Puggy Penguin.

Previously, projects such as OpenSea and Coinbase have also updated their official X account profile pictures to Puggy Penguins, though some have since reverted to their original images.

Three Arrows Capital Co-founder Zhusu: Real Bull Market Won't Begin Until Ethereum Hits All-Time High

Three Arrows Capital co-founder Zhusu posted on X that "real bull mkt doesn’t even begin until eth ath".