# Token Advice — Weekly Curated Crypto News *August 22nd, 2025 Edition* By [Token Advice](https://paragraph.com/@tokenadvice) · 2025-08-22 tokenadvice, onchainfinance, cryptoregulation, doj, cftc, stablecoins, defi, bitcoin, ethereum, tokenization, rwas, opensource, developerrights, wyomingcrypto, base, solana, projectcrypto, geniusact, 401financial, indx --- #### **🚀 Invest in the Broad Crypto Market** **401 Financial Broad Market Index (INDX)** is a fundamentals-driven crypto index fund that blends the efficiency of passive investing with active, fundamentals-based selection. Backed by 401 Financial’s proprietary scoring system, INDX delivers low-cost, diversified exposure to the broader crypto market. Get invested today: 👉 [**Invest**](https://indx.401financial.co/) 📅 [**Meet with us**](https://calendar.google.com/calendar/u/0/appointments/schedules/AcZssZ0A0-5BERqgTI54XIkfrS7YZ-IwJ9G_YR06mRDdQmtWgaKtljerMQwPCTnJvGBhV3iIdVqTT82U?huid=HK1x8kynTgoD3x6g8so3Ag) * * * ### **🔗 This Week’s Top Links** **1\.** [**DOJ: “Writing code without ill intent is not a crime.”**](https://www.theblock.co/post/367858/writing-code-without-ill-intent-is-not-a-crime-says-us-doj-official-following-tornado-cash-verdict) After the Tornado Cash verdict, DOJ’s acting criminal-division chief clarified the line: developers aren’t criminals for shipping code absent intent or control. That’s a bright-line shift away from “regulation by prosecution.” The goal being this brings DeFi developers back to America to continue building one of the fastest growing technologies across the entire economy. **Why it matters:** This lowers existential risk for open source devs and protocols. More builders will ship in the open, more capital will fund them, and the U.S. reg narrative just moved from fear to "come be a part of building technology in America". **2\.** [**Wyoming launches the first U.S. state-backed stablecoin on seven chains**](https://www.theblock.co/post/367459/wyoming-launches-first-state-backed-stablecoin-on-seven-blockchains) FRNT, a fully-reserved, over-collateralized state stablecoin issued by Wyoming, is live on Ethereum, Solana, Base, Arbitrum, Optimism, Polygon, and Avalanche. With professional reserve management and infra partners. States themselves are getting involved in the onchain economy. **Why it matters:** Expect businesses, consumers, and fintechs to treat FRNT like digital cash rails with public sector credibility. On top of that, it offers a blueprint for other states to help money flow more freely onchain, with far less cost. I'd imagine they will let people from the state pay their taxes, and any other county bills using FRNT too. **3\.** [**CFTC opens the next phase of its “Crypto Sprint”**](https://decrypt.co/336357/cftc-opens-next-phase-crypto-sprint-seeks-public-input-broader-rules) the CFTC kicked off a broader rulemaking pass and is taking public comments. Translation: they’re building the plumbing for regulated spot + market structure in parallel with the SEC’s Project Crypto. The more clarity for using onchain rails the better for the entire ecosystem, something builders have been asking for going on 5+ years now. **Why it matters:** Clear, federal rails are the unlock for mainstream liquidity (perps, 24/7 trading, custody standards). **4\.** [**Treasury’s Bessent on the U.S. Strategic Bitcoin Reserve**](https://x.com/SecScottBessent/status/1956080030137626887) Bessent reiterated that forfeited BTC is the foundation of the Strategic Bitcoin Reserve and that Treasury will explore budget-neutral pathways to add more. **Why it matters:** Policy is converging on “hold what we already own, grow it without taxing.” It’s a narrative anchor for sovereign BTC exposure and a roadmap other governments can copy without tapping taxpayer money. **5\.** [**“Unbundling the Bank"**](https://www.decentralised.co/p/unbundling-the-bank) Sharp framework: with GENIUS Act passing and stablecoin rails booming, non banks can hold dollars on behalf of users, compress payment take rates, and run finance as software. The is one of the best articles I've read that outlines how core banking functions get rebuilt on open blockchain ledgers with ownership at the core (and why businesses and consumers will prefer onchain settlement). **Why it matters:** This is the operating thesis for the next cycle: banks become interfaces; value lives on public rails. * * * ### 🧠 What Our Team is Thinking About **1\.** [**Most 401(k)s already have crypto exposure—here’s where it hides**](https://www.linkedin.com/posts/tyroneross_im-still-seeing-lots-of-thoughts-on-crypto-activity-7364633609908998144-UyuA/) **2\.** [**ETH/BTC should be tracked by advisors**](https://www.linkedin.com/posts/tyroneross_ethbtc-is-hitting-yearly-highs-most-advisers-activity-7363571227283636224-guUW/) **3\.** [**Podcast: Tyrone talks the current state of crypto**](https://cryptoprimepodcast.com/crypto-meets-wealth-management-with-tyrone-ross/) * * * #### **The INDX crypto fund helps you invest in the best of crypto with a single click.** Onchain. Low cost. Accessible to all. Built by a fiduciary. Get started investing today: 👉 [**View Fund Details & Invest**](https://indx.401financial.co/) 📅 [**Book a Call**](https://calendar.google.com/calendar/u/0/appointments/schedules/AcZssZ0A0-5BERqgTI54XIkfrS7YZ-IwJ9G_YR06mRDdQmtWgaKtljerMQwPCTnJvGBhV3iIdVqTT82U?huid=HK1x8kynTgoD3x6g8so3Ag) * * * _Disclosures: This newsletter is for informational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any securities. 401 Financial is a Registered Investment Advisor. Investments involve risk, including the potential loss of principal. Please consult with a qualified financial professional before making any investment decisions._ --- *Originally published on [Token Advice](https://paragraph.com/@tokenadvice/token-advice-august-22-2025)*