Crypto news

This week, I highlighted five key themes that will shape the trajectory of the crypto industry: pressure from Russian banks on crypto companies, the historic audit of Tether, Solana's near-miss with a network halt, a shift in the economic model in AI, and the fundamental question of bitcoin's role in the global economy.

Russian banks tighten requirements for crypto businesses

Russian financial institutions have begun requesting crypto companies to confirm inclusion in a Central Bank registry that does not currently exist. This is a preemptive de-risking move ahead of September 1, when cryptocurrency settlements for foreign economic activity will become permanent. Businesses are facing strict compliance, rising costs, and the risk of liability for illegal operations.

It is clear that the transition phase has started earlier than the official deadlines. The key task is to turn chaotic manual checks into a structured and transparent procedure for legal settlements; otherwise, we will see a mass exodus of companies into the shadows.

Tether's first full audit: a breakthrough or a one-off move?

Tether has received its first unqualified opinion from KPMG US on its 2025 financial statements, prepared in accordance with US standards. Auditors not only verified the balance sheet but also physically counted the gold reserves. Total assets exceeded liabilities by $6.81 billion.

This is not a perpetual guarantee, but it is a crucial signal for the stablecoin market. Transparency is becoming a competitive advantage, and now I expect other major issuers to be forced to follow suit, or they will lose the trust of institutional investors.

Solana: one step from disaster due to an infrastructure failure

The Solana network narrowly avoided a complete halt after a routing failure at provider TeraSwitch. Validators controlling 28.83% of staked SOL went offline simultaneously—the critical finalization threshold is 33.34%. The issue was resolved in 33 minutes, but the incident exposed a dangerous centralization of infrastructure.

For institutional players, this is a wake-up call: a network positioned as highly reliable is showing fragility. Such risks could significantly slow Solana's adoption in traditional finance.

AI: the battle for GPUs becomes the main battleground

News of Anthropic's potential $6 billion acquisition of startup Decart and personnel changes at Google highlight a fundamental shift in the AI industry. Competition is moving from algorithm development to control over computing power and inference optimization.

This sharply raises the barrier to entry: only those who can efficiently manage product economics at scale will survive. Simply building a smart model is no longer enough—you need to be able to run it without going bankrupt.

Bitcoin: lost status and the search for a new role

Miner revenue from fees has dropped to a minimum of 0.69%, and the hashrate has collapsed due to competition with AI for energy resources. Meanwhile, major funds, including BlackRock, are actively buying the asset. However, bitcoin has stopped correlating with stocks and gold, failing to live up to its "safe haven" status during crisis shocks.

The coin has outgrown its speculative status but has not yet found its macroeconomic niche. This is an identity crisis: bitcoin is no longer just digital gold, but it is not a fully-fledged currency either. Its future depends on its ability to adapt to new realities, not on ETF hype.

This is a shortened version of my analysis. The full breakdown is available in video format:

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My verdict: the week showed that the crypto market is maturing—but through pain. Tightening regulation, infrastructure failures, and economic challenges in AI are not coincidences but systemic changes. Investors should reconsider their strategies, betting on transparency and resilience rather than short-term volatility.