{"id":7374,"date":"2025-08-10T19:40:09","date_gmt":"2025-08-10T19:40:09","guid":{"rendered":"https:\/\/bitunikey.com\/news\/white-house-shakeup-ripple-sec-finale-and-a-major-acquisition-weekly-recap\/"},"modified":"2025-08-10T19:40:15","modified_gmt":"2025-08-10T19:40:15","slug":"white-house-shakeup-ripple-sec-finale-and-a-major-acquisition-weekly-recap","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/white-house-shakeup-ripple-sec-finale-and-a-major-acquisition-weekly-recap\/","title":{"rendered":"White House shakeup, Ripple-SEC finale, and a major acquisition | Weekly Recap"},"content":{"rendered":"

<\/p>\n

\n

The cryptocurrency world saw a flurry of major developments this week, spanning politics, regulation, corporate moves, and market adoption. <\/p>\n

In addition to Bo Hines\u2019 resignation from the Council of Advisors for Digital Assets, high-profile legal cases against Tornado Cash\u2019s creator and Binance founder Changpeng Zhao advanced. <\/p>\n

Meanwhile, market players from Coinbase to Animoca Brands unveiled new ventures, universities made big Bitcoin moves, and President Trump authorized cryptocurrency in retirement plans. <\/p>\n

Here\u2019s a breakdown of the top stories shaping the digital asset landscape right now.<\/p>\n

\n
\n Summary<\/span>\n <\/div>\n
\n
    \n
  • Trump signs executive order permitting crypto investments in 401(k) plans<\/li>\n
  • Ripple and SEC voluntarily dismiss appeals, ending years-long legal battle<\/li>\n
  • Harvard and Brown universities reveal large Bitcoin positions in SEC filings<\/li>\n<\/ul><\/div>\n<\/div>\n

    <\/p>\n

    Presidential crypto council sees leadership change<\/h3>\n
      \n
    • Bo Hines has announced his decision to step down from the Presidential Council of Advisors for Digital Assets.<\/li>\n
    • He now plans to pursue private sector activities after his December 2024 appointment by Trump.<\/li>\n
    • Deputy Patrick Witt is anticipated to assume the leadership role of the \u201ccrypto council\u201d following Hines\u2019s transition.<\/li>\n<\/ul>\n

      Ripple-SEC legal battle reaches final conclusion<\/h3>\n
        \n
      • The Securities and Exchange Commission\u2019s lawsuit against Ripple Labs finally came to an end on Thursday.<\/li>\n
      • Both parties informed the Second Circuit Court of Appeals they were voluntarily dismissing their appeals.<\/li>\n
      • Each organization will bear their own legal costs from the litigation, according to the court filing.<\/li>\n<\/ul>\n

        Ripple acquires Rail for $200 million<\/h3>\n
          \n
        • The blockchain payments company announced it is purchasing the Toronto-based stablecoin payments platform for $200 million.<\/li>\n
        • The transaction is expected to complete during the fourth quarter, according to the official statement.<\/li>\n<\/ul>\n

          World Liberty Financial targets massive fundraising round<\/h3>\n
            \n
          • The Trump family-backed venture is pursuing $1.5 billion in capital to establish a public company structure holding WLFI tokens.<\/li>\n
          • The business has reportedly contacted cryptocurrency and technology investors seeking support for a treasury company model.<\/li>\n<\/ul>\n

            Harvard and Brown universities enter Bitcoin market<\/h3>\n
              \n
            • According to SEC 13F filings, Harvard Management Company, the university\u2019s fully owned subsidiary, invested $116 million in BlackRock\u2019s iShares Bitcoin Trust.<\/li>\n
            • Brown University also disclosed Bitcoin exposure through similar regulatory documentation.<\/li>\n<\/ul>\n

              Coinbase integrates decentralized exchange capabilities<\/h3>\n
                \n
              • The cryptocurrency exchange announced Friday it is launching DEX integration to provide access to \u201cmillions\u201d of digital assets previously unavailable to users.<\/li>\n<\/ul>\n

                Animoca Brands forms stablecoin joint venture<\/h3>\n
                  \n
                • The Web3 investor partnered with Standard Chartered\u2019s Hong Kong division and Hong Kong Telecom to create Anchorpoint, a licensed stablecoin issuance venture.<\/li>\n
                • The joint venture plans to develop business models for regulated stablecoin operations in the Hong Kong market.<\/li>\n<\/ul>\n

                  Trump authorizes cryptocurrency in retirement plans<\/h3>\n
                    \n
                  • Trump signed an executive order permitting crypto investments in 401(k) retirement accounts.<\/li>\n
                  • This policy change could influence wealth managers who previously avoided cryptocurrency exposure to reconsider their investment strategies.<\/li>\n<\/ul>\n

                    Paxos settles New York charges for $26.5 million<\/h3>\n
                      \n
                    • The stablecoin issuer agreed to pay the penalty to resolve New York State Department of Financial Services charges related to its previous Binance partnership.<\/li>\n<\/ul>\n

                      Roman Storm convicted in Tornado Cash case<\/h3>\n
                        \n
                      • A Manhattan jury convicted Roman Storm, the Tornado Cash creator, of conspiring to run an unauthorized money transmission company.<\/li>\n
                      • Sentencing has not been scheduled, and prosecutors have not announced whether they will retry Storm on remaining charges.<\/li>\n<\/ul>\n

                        Zhao challenges FTX bankruptcy lawsuit<\/h3>\n
                          \n
                        • Changpeng Zhao, the former CEO of Binance, filed a motion to have the $1.76 billion lawsuit from the FTX bankruptcy estate dismissed.<\/li>\n
                        • His attorneys contend that he was not properly served in the lawsuit and that U.S. courts do not have jurisdiction over him.<\/li>\n<\/ul>\n

                          <\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

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