

The Final Cut: Will the Rate-Cycle End in Another Bitcoin Crash?
A 25-bp Gift from the Fed The FOMC just trimmed rates by 25 basis points—historic only in the sense that it may turbo-charge a bull run that is already on borrowed time. With the 2024 halving now 17 months behind us, history says a cyclical top is due around December 2025. Chair Powell’s cut—and the hint of two more before year-end—gives the ≈ US-$ 7.4 trn parked in money-market funds a powerful incentive to reach for yield. Spot-Bitcoin ETFs, BTC-treasury companies and zero-friction broker a...

Robinhood vs. Coinbase: A $160-Billion Duel
Baihua Blockchain • August 11, 2025 Author: Thejaswini MA | Translated & edited by Baihua --- A Quiet War in Your Pocket A silent battle is unfolding on your phone screen, and most people still haven’t noticed. America’s two flagship finance apps—Robinhood and Coinbase—are running diametrically opposed experiments on millions of users. Robinhood sits at No. 14 in the App Store’s Finance category; Coinbase is at No. 20. Both are worth roughly $80 billion. Both chase the same young investors, y...

$500 Million Bet on Anthropic: SBF Almost Made the Most Successful Investment in AI History
In 2021, Sam Bankman-Fried (SBF), founder of the cryptocurrency exchange FTX, invested $500 million in AI company Anthropic through his hedge fund Alameda Research, acquiring approximately 8% equity. At that time, the AI boom had not yet begun, and this investment was regarded as a highly forward-looking high-stakes bet. However, in 2022, SBF’s empire collapsed due to the FTX crisis, and his assets were liquidated. FTX eventually sold its Anthropic stake in two installments, reclaiming approx...
Cryptocurrencies have long operated in a gray area between innovation and regulation. As the U.S. pushes for a regulatory framework, the industry faces a pivotal moment that could unlock scale, capital, and global influence.
After collaborating with the Crypto Council for Innovation and engaging in dialogues with industry leaders, a turning point emerged: upcoming policies will shape crypto’s next phase.
On his third day in office for his second term, President Trump signed a sweeping executive order. The January 23 directive, "Strengthening American Leadership in Digital Financial Technology," revoked a 2022 Biden-era policy, shifting from an enforcement-heavy approach to proactive governance. On March 6, Trump signed another order establishing a Strategic Bitcoin Reserve—comprising confiscated BTC from criminal cases—to be held as a long-term national asset rather than sold.
The SEC reorganized its crypto oversight under a "Cyber and Emerging Technologies" division, signaling a focus on long-term rulemaking. Chair Hester Peirce stated the goal is to let businesses "freely experiment and build interesting things." Meanwhile, Deputy Attorney General Todd Blanche disbanded the National Cryptocurrency Enforcement Team (NCET), marking a stark departure from the prior administration’s tactics, as outlined in a memo titled "Ending Regulation by Prosecution."
The Stablecoin Act (GENIUS Act), introduced in February 2025, was Washington’s first serious attempt to bring stablecoins under a clear federal framework. With $243 billion in global circulation (90% USD-backed), the bill proposed strict reserve, audit, and transparency standards while barring false claims of government backing. Though it failed in May, it sparked rare bipartisan collaboration and laid groundwork for future consumer-focused crypto laws.
The impact is already visible: trading activity and investor confidence have surged. For instance, Bitcoin firm Twenty One Capital announced a $3.6 billion SPAC merger led by Brandon Lutnick (son of Commerce Secretary Howard Lutnick), reflecting market optimism. Companies are racing to capitalize on this pro-innovation climate.
This shift hasn’t gone unnoticed—it’s reshaping infrastructure, legal strategies, and institutional trust.
Policy changes are driving tangible action. Batyr Hydyrov, CEO of Uminers, sees the SEC’s stance on proof-of-work mining as a catalyst: "Clarifying that some PoW activities aren’t securities eases compliance burdens. This, plus broader regulatory shifts, unlocks ambitious roadmap goals."
The Strategic Bitcoin Reserve is another trigger. "It signals institutional acceptance, likely spurring more mining investments," Hydyrov notes, though he remains cautious: "We’re expanding selectively but preparing for global policy volatility."
As regulatory fog lifts, legal frameworks are being redrawn. Frank Hepworth, founder of Yieldschool and ex-regulatory lawyer, sees a "structural green light" for decentralization: "Chain-based firms no longer fear SEC-regulated platforms. Penalty risks are dropping, so expect more on-chain activity."
He critiques outdated rules: "Forced compliance breeds inequality—a root of U.S. wealth gaps." His vision? "Regulation should be crypto-native, led by crypto."
With legal barriers easing, the next hurdle is psychological: institutional trust. The industry is now self-policing through transparency.
Peter Ionov of GT Protocol highlights the dichotomy: "Lighter regulation sparks innovation but worries traditional players. Agile investors see opportunity; institutions await clarity."
The solution? Market-driven trust-building: "The industry is adopting transparency—open-source code, audits, and licensed partnerships."
With trust growing and legal pathways widening, bold ideas can scale. Chris Baldrey-Chourio of Construct Koin leverages AI and blockchain for real estate finance: "Fewer rules doesn’t mean no rules—it creates space for real-world solutions."
But he warns of global competition: "The U.S. leads now, but without action, EU and Singapore will overtake us." He advocates for "collaboration over enforcement" to foster experimentation.
CPA Andrea Perlak of Crypto Accounting Group rejects the "decentralization equals chaos" myth: "Web3 has always prioritized ethics. Bad actors face lasting reputational damage in this tight-knit space."
She clarifies: "This isn’t deregulation—it’s replacing ‘regulation by prosecution’ with actual legislation. The industry welcomes it."
A collective theme emerges: The sector is maturing from chaos to standards, from walled gardens to open, ethical innovation. If the industry embraces transparency and inclusivity not because it must, but because it’s right, it could redefine modern finance.
Key Takeaways:
Policy shifts (e.g., Bitcoin Reserve, SEC reorganization) are boosting confidence.
Infrastructure and legal frameworks are adapting rapidly.
Transparency and ethics are becoming market norms.
Global competition demands sustained U.S. action.
The message is clear: The era of regulatory ambiguity is ending—and crypto is ready.

Cryptocurrencies have long operated in a gray area between innovation and regulation. As the U.S. pushes for a regulatory framework, the industry faces a pivotal moment that could unlock scale, capital, and global influence.
After collaborating with the Crypto Council for Innovation and engaging in dialogues with industry leaders, a turning point emerged: upcoming policies will shape crypto’s next phase.
On his third day in office for his second term, President Trump signed a sweeping executive order. The January 23 directive, "Strengthening American Leadership in Digital Financial Technology," revoked a 2022 Biden-era policy, shifting from an enforcement-heavy approach to proactive governance. On March 6, Trump signed another order establishing a Strategic Bitcoin Reserve—comprising confiscated BTC from criminal cases—to be held as a long-term national asset rather than sold.
The SEC reorganized its crypto oversight under a "Cyber and Emerging Technologies" division, signaling a focus on long-term rulemaking. Chair Hester Peirce stated the goal is to let businesses "freely experiment and build interesting things." Meanwhile, Deputy Attorney General Todd Blanche disbanded the National Cryptocurrency Enforcement Team (NCET), marking a stark departure from the prior administration’s tactics, as outlined in a memo titled "Ending Regulation by Prosecution."
The Stablecoin Act (GENIUS Act), introduced in February 2025, was Washington’s first serious attempt to bring stablecoins under a clear federal framework. With $243 billion in global circulation (90% USD-backed), the bill proposed strict reserve, audit, and transparency standards while barring false claims of government backing. Though it failed in May, it sparked rare bipartisan collaboration and laid groundwork for future consumer-focused crypto laws.
The impact is already visible: trading activity and investor confidence have surged. For instance, Bitcoin firm Twenty One Capital announced a $3.6 billion SPAC merger led by Brandon Lutnick (son of Commerce Secretary Howard Lutnick), reflecting market optimism. Companies are racing to capitalize on this pro-innovation climate.
This shift hasn’t gone unnoticed—it’s reshaping infrastructure, legal strategies, and institutional trust.
Policy changes are driving tangible action. Batyr Hydyrov, CEO of Uminers, sees the SEC’s stance on proof-of-work mining as a catalyst: "Clarifying that some PoW activities aren’t securities eases compliance burdens. This, plus broader regulatory shifts, unlocks ambitious roadmap goals."
The Strategic Bitcoin Reserve is another trigger. "It signals institutional acceptance, likely spurring more mining investments," Hydyrov notes, though he remains cautious: "We’re expanding selectively but preparing for global policy volatility."
As regulatory fog lifts, legal frameworks are being redrawn. Frank Hepworth, founder of Yieldschool and ex-regulatory lawyer, sees a "structural green light" for decentralization: "Chain-based firms no longer fear SEC-regulated platforms. Penalty risks are dropping, so expect more on-chain activity."
He critiques outdated rules: "Forced compliance breeds inequality—a root of U.S. wealth gaps." His vision? "Regulation should be crypto-native, led by crypto."
With legal barriers easing, the next hurdle is psychological: institutional trust. The industry is now self-policing through transparency.
Peter Ionov of GT Protocol highlights the dichotomy: "Lighter regulation sparks innovation but worries traditional players. Agile investors see opportunity; institutions await clarity."
The solution? Market-driven trust-building: "The industry is adopting transparency—open-source code, audits, and licensed partnerships."
With trust growing and legal pathways widening, bold ideas can scale. Chris Baldrey-Chourio of Construct Koin leverages AI and blockchain for real estate finance: "Fewer rules doesn’t mean no rules—it creates space for real-world solutions."
But he warns of global competition: "The U.S. leads now, but without action, EU and Singapore will overtake us." He advocates for "collaboration over enforcement" to foster experimentation.
CPA Andrea Perlak of Crypto Accounting Group rejects the "decentralization equals chaos" myth: "Web3 has always prioritized ethics. Bad actors face lasting reputational damage in this tight-knit space."
She clarifies: "This isn’t deregulation—it’s replacing ‘regulation by prosecution’ with actual legislation. The industry welcomes it."
A collective theme emerges: The sector is maturing from chaos to standards, from walled gardens to open, ethical innovation. If the industry embraces transparency and inclusivity not because it must, but because it’s right, it could redefine modern finance.
Key Takeaways:
Policy shifts (e.g., Bitcoin Reserve, SEC reorganization) are boosting confidence.
Infrastructure and legal frameworks are adapting rapidly.
Transparency and ethics are becoming market norms.
Global competition demands sustained U.S. action.
The message is clear: The era of regulatory ambiguity is ending—and crypto is ready.

The Final Cut: Will the Rate-Cycle End in Another Bitcoin Crash?
A 25-bp Gift from the Fed The FOMC just trimmed rates by 25 basis points—historic only in the sense that it may turbo-charge a bull run that is already on borrowed time. With the 2024 halving now 17 months behind us, history says a cyclical top is due around December 2025. Chair Powell’s cut—and the hint of two more before year-end—gives the ≈ US-$ 7.4 trn parked in money-market funds a powerful incentive to reach for yield. Spot-Bitcoin ETFs, BTC-treasury companies and zero-friction broker a...

Robinhood vs. Coinbase: A $160-Billion Duel
Baihua Blockchain • August 11, 2025 Author: Thejaswini MA | Translated & edited by Baihua --- A Quiet War in Your Pocket A silent battle is unfolding on your phone screen, and most people still haven’t noticed. America’s two flagship finance apps—Robinhood and Coinbase—are running diametrically opposed experiments on millions of users. Robinhood sits at No. 14 in the App Store’s Finance category; Coinbase is at No. 20. Both are worth roughly $80 billion. Both chase the same young investors, y...

$500 Million Bet on Anthropic: SBF Almost Made the Most Successful Investment in AI History
In 2021, Sam Bankman-Fried (SBF), founder of the cryptocurrency exchange FTX, invested $500 million in AI company Anthropic through his hedge fund Alameda Research, acquiring approximately 8% equity. At that time, the AI boom had not yet begun, and this investment was regarded as a highly forward-looking high-stakes bet. However, in 2022, SBF’s empire collapsed due to the FTX crisis, and his assets were liquidated. FTX eventually sold its Anthropic stake in two installments, reclaiming approx...
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