It's been 2 weeks since the last update, and I'm glad to say we are still in business! Bitcoin is forming a range, alts are moving, and trenches are alive! Heck, even the S&P500 is trading near all time highs. Yeepy!

Today's newsletter is quite diverse. From the GENIUS act being passed once again showing the U.S.'s efforts to capitalize on crypto, to tokenized stocks allowing users to bring their entire investment portfolios on-chain, it seems that on-chain is the place to be.

Finally, we will go over one tool by the Jupiter team that can be very helpful for both beginners & veterans to fully capitalize on the bull market, let's get into it!

I - Simply GENIUS: A New Dawn For Stablecoins

At this point, July 2025 will be remembered as a turning point in crypto history. After years of uncertainty and conflicting enforcement, the U.S. government has finally taken structured step forward by passing the GENIUS Act; short for Government-Enabled Network for Institutional-Utility Stablecoins.

Signed into law by our beloved Mr. Trump, this landmark legislation marks the first comprehensive federal framework for USD-backed stablecoins and sets the tone for a new phase of crypto legitimacy and institutional adoption.

At its core, the GENIUS Act establishes clear requirements for any entity issuing stablecoins in the U.S. Every stablecoin must now be fully backed 1:1 with high-quality liquid assets such as U.S. dollars, Treasury bills, or equivalent reserves.

Monthly attestation reports from independent auditors are mandatory, and issuers must offer full redemption rights and maintain clear consumer protections. The law also introduces a federal licensing pathway through the Office of the Comptroller of the Currency (OCC) and integrates standard AML/KYC provisions to ensure legal compliance across the board.

This is actually a huge moment for crypto. Not just because it resolves regulatory challenges, but because it gives the entire ecosystem a green light to evolve. Stablecoins aren’t just for trading those precious memecoins anymore; they’re the plumbing of Web3; powering lending, payments, DAOs, and decentralized commerce.

With regulatory clarity, institutional actors that previously sat on the sidelines now have a secure on-ramp to participate. The result? A rapid acceleration in use cases from on-chain payroll to cross-border treasury management.

In short, the GENIUS Act is some of the most bullish development for crypto in years. While it isn't as flashy as other big announcement we saw earlier in the year like the national Bitcoin reserve, the GENIUS act helps cement stablecoins as institutional-grade financial tools.

With clear rules, enforceable protections, and real alignment between regulators and builders, the next phase of crypto adoption will be deeper, broader, and more sustainable. It turns out that the most revolutionary act in crypto… might be good regulation.

II - Your Parent's 401k, On-Chain: xStocks

The tokenization of real-world assets (RWAs) has been one of crypto’s biggest narratives this cycle and while there has been a couple catastrophes ($OM lol) nothing makes that narrative more tangible than xStocks.

In a space known for memes and volatility, xStocks bring something radically simple and powerful to DeFi: exposure to actual shares of publicly traded companies and ETFs, on-chain.

Brought to you by industry titans such as Kraken and Bybit, and built on none other than Solana.

So, what exactly are xStocks? These are tokenized representations of real U.S. equities, like Apple, Tesla, Nvidia, Meta, and more; available 24/7 on platforms like Jupiter, Drift, Backpack, and other Solana-based DeFi apps.

Priced in stablecoins, they let you buy, trade, lend, and even long/short U.S. stocks without ever leaving crypto. No broker. No banking hours. No Wall Street middlemen. This train runs 24/7 baby.

Similar to how stables work, xStocks are powered by backed tokens / synthetic mirrors; meaning for every token issued, there’s either a real share custodied by a regulated entity, or a price oracle-backed synthetic that tracks its market value in real-time.

The goal is to give you the feel and value of owning a stock, while still being native to DeFi infrastructure.

What does that mean? Well unlike traditional stocks, xstocks can be used as collateral for other DeFi activities. Through Kamino for example, you can lend, borrow, and earn interest on your stocks.

So yes, You can now use your S&P500 shares as collateral to trade memecoins on chain. Digital finance has peaked.

In short, xStocks blur the line between TradFi and DeFi in the most powerful way yet. They turn the stock market into an open API, accessible to anyone with an internet connection and a wallet.

In doing so, they unlock trillions in potential liquidity, and signal that DeFi isn’t just here to play with new money, but to rewire how all money works.

Checkmate, Wall Street.

III - The Crypto SPX: $JLP

Crypto is full of noise. From rotating metas to memecoin manias, it can feel impossible to maintain a stable, long-term portfolio. That's why we like to stick to lower risk plays, which present good return opportunities with limited downsides.

That’s where Jupiter’s $JLP steps in, a DeFi-native index token that does more than just track market momentum. It bundles five of the most important assets in crypto into one token and shares real revenue back to holders.

At its core, $JLP is a Solana-based index fund that gives you diversified exposure to SOL, ETH, WBTC, USDC, and USDT.

In other words, it’s a slice of crypto’s 2 biggest chains, tokenized Bitcoin, and the 2 most trusted stablecoins. No overexposure. No guesswork. Just instant, composable exposure to crypto’s economic engine.

But $JLP doesn’t just sit there. Unlike many passive index tokens, $JLP earns.

When users swap in and out of the JLP pool, borrow from it, or trade against it, they generate fees; and 75% of those fees go directly back to $JLP holders.

This includes: opening and closing fees, price impact spreads, borrowing fees, and trading fees... And with Jupiter's perp side racking in a whopping $208M in revenue last quarter, no wonder $JLP has one of the most ridiculous charts in crypto:

Of course, Jupiter offers transparent tracking for $JLP. You can view its current APY and performance metrics directly via the Jupiter platform. Whether you want to see how it’s faring compared to holding SOL or ETH alone, or how much yield it’s generating over time, the data is all there.

$JLP is also available on every DeFi platform, so you can use it as collateral anywhere, and even leverage it up to get increased exposure, but as always... calmos on the leverage friends!

[All topics are meant to be educational only. None of it is financial advice, please do your own research.]