Toncoin Sees Surge on Back of MEXC Investment Raise

A wave of departures from the Ethereum Foundation has sparked debate within the crypto industry about the organization's transparency and leadership. The latest departures have raised questions about the foundation's direction and communication practices, leading to frustrations among community members.

Tether has acquired all shares held by SoftBank in Bitcoin-buying firm XXI, solidifying its majority ownership. XXI's stock price rose 5% to a $5.2 billion market cap, despite being down 83% from a year ago. SoftBank's involvement brought credibility to XXI, which owns 43,514 Bitcoin.

The European Commission is seeking feedback on the effectiveness of the Markets in Crypto-Assets Regulation (MiCA) as digital asset markets evolve. The consultation, open until Aug. 31, targets public and industry stakeholders to reassess the regulatory framework due to market changes.

South Carolina's new bill, signed by Governor Henry McMaster, protects individuals, businesses, and Bitcoin miners in the state. It allows for the use, custody, and mining of digital assets while banning the use of central bank digital currency. The bill also exempts miners and developers from needing a money transmitter license.

Vitalik Buterin outlined Ethereum's steps to bring onchain privacy, crucial for institutional adoption. The Ethereum Foundation faces departures amid initiatives like Account Abstraction and Keyed Nonces to enhance privacy.

Hyperliquid's native token HYPE has surged 101% year-to-date, reaching $51.26, with a predicted $52 target in May. Market observers note its shift towards real-world assets and financial infrastructure, diverging from Bitcoin's macro reserve asset status.

Nexo has extended its title sponsorship of the DP World Tour's Nexo Championship, a professional golf tournament held at Trump International Golf Links in Scotland. The tournament, with a $3 million prize pool, marks the second year of Nexo's title sponsorship.

The Morning Minute newsletter by Tyler Warner provides daily analysis and opinions, separate from Decrypt's views. Markets rebounded overnight, with Bitcoin, ETH, and SOL in the green, influenced by a sharp oil decline. HYPE surged 5% due to Hyperliquid's volume records and Coinbase/USDC partnership.

An executive order signed by U.S. President Donald J. Trump mandates federal financial regulators to streamline rules within 90 days, potentially allowing digital asset companies access to Federal Reserve payment systems. The order requires various agencies to complete regulatory reviews by mid-August, with the Federal Reserve facing a specific mandate to evaluate extending direct access to non-bank financial companies.

Sen. Elizabeth Warren is questioning the OCC's approval of national trust bank charters for crypto companies, arguing they pose risks to the U.S. banking system. The OCC has granted charters to firms like Coinbase, Ripple, and Crypto.com, allowing them to offer services like managing assets and stablecoin activities.