Crypto news

This week, the crypto industry once again demonstrates its ambiguous nature: from the ambitions of a convicted fraudster to the cunning strategies of a stablecoin issuer and global political maneuvers. We break down the key events shaping the future of digital assets.

SBF's Plan: A Startup from Prison

Sam Bankman-Fried, serving a 25-year sentence for the FTX collapse, is not wasting time. According to sources close to him, he is already making plans for life after release, stating that for "serious money," he will need starting capital of $50–100 million. He even mentioned a certain crypto project that, in his words, "everyone will flock to." Simultaneously, SBF has appealed to Donald Trump for a presidential pardon, and his parents have hired lobbyists. The topic of FTX's venture investments has resurfaced in the community—stakes in SpaceX, Anthropic, and Solana, currently valued at $114 billion, were sold off by bankruptcy administrators for a pittance. However, most observers agree: even if SBF is a genius investor, his crimes (illegal use of client funds) have permanently undermined trust in him. It is unlikely anyone will seriously believe in his "new start."

Tether vs. MiCA: A Bypass Maneuver

The European regulator ESMA has strictly demanded that all crypto platforms obtain a license under the MiCA regulation by July 1. Tether's leadership decided not to comply directly, deeming the requirement to hold 60% of reserves in European banks a threat to financial stability. Instead, the company chose a "shadow presence" strategy: it invests in partners who already have legal status in the EU. Through them, fully legitimate stablecoins will be issued, allowing Tether to maintain market share without direct conflict with bureaucrats. Meanwhile, the forced delisting of USDT in Europe will hit professional participants: market makers will have to split liquidity pools, complicating inter-exchange arbitrage and widening spreads. This is a classic example of a "too big to fail" company finding loopholes in regulation.

USA: Digital Dollar Banned Until 2030

America is officially exiting the global CBDC race. Lawmakers embedded a norm prohibiting the Federal Reserve from issuing a digital dollar into an affordable housing bill—such packaging allowed them to bypass opposition. Key fears include total transaction surveillance, programmable money with the ability to freeze without trial (as in the digital yuan), and the displacement of commercial banks. Private stablecoins are explicitly exempt from this ban. This means the world's largest economy is betting on private initiatives rather than state control. For the global market, this is a signal: stablecoins are becoming a legitimate alternative, but under strict oversight.

The Meme Coin Bubble Burst: Pump.fun Loses 70% of Revenue

The Pump.fun platform, which allowed anyone to issue their own token for a few dollars, is experiencing a collapse: revenues have plummeted by over 70%. Nearly 96% of traders either lost money or earned no more than $500. To salvage the situation, developers announced the burning of tokens worth $370 million (36% of the supply). This reflects a massive process of capital redistribution: investors are withdrawing liquidity from unregulated instruments that major players consider gambling and returning funds to TradFi. The practice of buying assets without fundamental value has stopped working. The market is becoming safer but less speculative—traders will have to seek assets with real-world utility.

CME Group: Monopoly Protection Under the Guise of Care

The operator of the Chicago Mercantile Exchange, CME Group, is suing the regulator CFTC over permission granted to the Kalshi platform to launch perpetual futures. CME CEO Terrence Duffy formally appeals to investor protection, comparing high leverage to the 2008 mortgage crisis. However, the real reason is monopoly: CME holds exclusive licenses for all major benchmarks on which futures are based. The logic is simple: "We control the indices, so new instruments based on them should trade with us." This is a classic pattern, also seen with ICE demanding "equal rules" due to Hyperliquid's rise. The battle for control over derivatives is just beginning.

Global Trend: Destruction of Communication Privacy

The UK is preparing a law that completely bans social media (Instagram, TikTok, YouTube) for citizens under 16. In France and the EU, an initiative is advancing for mass scanning of private messages before they are sent. Under the pretext of fighting terrorism and protecting children, governments are forcing citizens to abandon the basic right to privacy. As Pavel Durov rightly noted, the forced abandonment of end-to-end encryption (embedding backdoors) will not stop real criminals—they will simply create their own closed applications. Ordinary law-abiding citizens will be the ones affected. Additionally, weakening encryption makes corporate networks of banks and funds vulnerable to hackers. The only way out for users is to switch to decentralized services.

My analysis: We are witnessing a fundamental shift: states are trying to take control not only of finances but also of communications. The crypto industry, with its principles of decentralization and privacy, finds itself at the center of this confrontation. Investors should closely monitor this trend—projects offering real solutions for data protection and anonymity could become the main beneficiaries of the new reality.