Weekly Recap | Market Pullback and Regulatory Moves as White House Report Leaves BTC Reserve Plans U
2025.08.04
Week in Review (July 28 – August 3)
The crypto market experienced a notable correction last week, with Bitcoin dipping below $112,000 and most major altcoins facing widespread declines. The White House released its long-anticipated Digital Asset Report, focusing on stablecoins and regulatory pathways—but it offered no new details on potential Bitcoin reserve strategies.
Meanwhile, Ethereum marked its 10th anniversary, with ETH’s journey from $0.30 to over $4,000 making it the 28th largest asset in the world by market cap. On the macro front, the U.S. SEC launched Project Crypto and updated its listing standards for crypto ETPs, while Hong Kong’s Stablecoin Regulation Ordinance officially came into effect. PayPal also rolled out a new feature enabling merchants in the U.S. to accept over 100 cryptocurrencies as payment.
Let’s review the key events of the past week and preview what’s ahead.
Market Pulse
- BTC Spot ETFs in the U.S. saw net outflows of $642 million
- ETH Spot ETFs recorded $154 million in net inflows
- The White House Digital Asset Report was released, but no Bitcoin reserve or holding strategy was disclosed
- The SEC launched Project Crypto, aimed at enabling on-chain financial markets
- The SEC approved physical redemption mechanisms and updated listing standards for crypto ETPs
- Hong Kong’s Stablecoin Ordinance went live, with only 3–4 initial licenses expected
- Tether’s Q2 report revealed over $127 billion in U.S. Treasuries—surpassing South Korea’s reserves
- PayPal now allows U.S. merchants to accept over 100 cryptocurrencies
Funding & M&A
Last week saw over 20 funding deals in the blockchain space, totaling more than $300 million, with a strong focus on RWA, AI, and infrastructure:
- GAIB (RWAiFi) raised $10M in a round led by Amber Group
- Billions (AI) secured $30M from Polychain, Coinbase Ventures, and others
- Manifold (AI infra) completed a $10.5M Series A led by OSS Capital
- OpenAI raised $8.3B, bringing its valuation to $300 billion
- Stable (Tether-focused blockchain) raised $28M in a seed round led by Bitfinex and Hack VC
- Subzero Labs raised $20M in a seed round from Pantera Capital
- Falcon Finance received a $10M strategic investment from World Liberty Financial
Policy & Compliance
- All 9 Ethereum spot ETFs in the U.S. have begun trading
- The U.S. House passed a bill targeting illicit crypto finance
- Korea’s FSC summoned the five largest exchanges to discuss deposit interest rate issues
- The Philippines plans to launch a wholesale CBDC by 2029
- HSBC Australia banned crypto-related payments to prevent fraud
- India is expected to release its crypto policy consultation paper by September
Echobit Highlights
Echobit continued rolling out new features and campaigns to enhance trading experiences and community engagement:
- “Lost It All? Get 50% Vouchers Back” campaign continues, offering loss-based rebates
- New spot trading pair ERA/USDT has gone live
- $20,000 rewards campaign launched for the PUMPUSDT perpetual pair
- Special Ethereum 10th Anniversary Event—join the community and win 10 USDT
Looking Ahead (August 4 – August 10)
- Ethena (ENA) will unlock 172 million tokens worth approximately $95.8M
- Brazilian lawmakers will debate the proposed crypto tax bill on August 6
- Ethena reached a USDe redemption agreement with German regulators—redemption deadline August 6
- U.S. jobless claims data set for release on August 7
- Trump’s reciprocal tariff policy postponed to August 7
- Hong Kong’s RWA registration platform will officially launch on August 7
- YZi Labs’ EASY Residency incubation program concludes on August 10
Stay tuned with Echobit as we bring you critical market insights, policy trends, and investment opportunities—empowering every crypto user to navigate the market with confidence.