Tom Lee's BitMine Continues to Accumulate Ethereum While Bitcoin Giant Strategy Takes a Week Off

Figure Technologies, a blockchain lender founded in 2018, has filed initial paperwork for an IPO, reporting a 22% revenue surge to $191 million in the six months ending June 30, 2025. The company dominates the tokenized private credit space, with over $11 billion in active loans on its Provenance blockchain.

Governor J.B. Pritzker signed two bills in Illinois to protect crypto users from fraud, giving the state authority to oversee exchanges and wallet providers. The legislation aims to curb the increasing scams at crypto ATMs and requires cybersecurity measures and consumer service standards.

The American Innovation Project, a nonprofit organization, has been established by influential crypto companies and lobbying groups to engage with lawmakers on policy matters related to decentralized technologies. The organization aims to provide clear insights for policymakers and will focus solely on education, remaining nonpartisan.

The U.S. Securities and Exchange Commission has postponed decisions on various ETFs, including those for Bitcoin, Ethereum, XRP, Dogecoin, and Litecoin. The delays come amid a wave of proposals tracking cryptocurrencies due to increased interest from traditional finance giants.

Solana's network achieved over 100,000 transactions per second in an on-chain experiment, surpassing Visa's high mark. The validator believes with more efficient programs and token standards, Solana can process 100,000 token transfers per second.

A solo Bitcoin miner recently earned 3.137 BTC, valued at around $365,000, by solving a block on the Bitcoin blockchain. This miner used Solo CKPool, a service for anonymous miners, and added 4,913 transactions to the network. Mining Bitcoin has become more challenging with the network's growth and price volatility.

Qubic attempted a 51% attack on Monero but fell short, aiming to change the network with its AI model. Now, Qubic plans to experiment with Dogecoin, following a community vote in its Discord server.

The U.S. Treasury Department is soliciting public input on innovative methods to detect illicit crypto activities under the GENIUS Act, the first major U.S. law regulating the crypto space. This marks the beginning of implementing the law, with a 60-day comment period for industry feedback.

BTCS is offering a one-time payment to investors who make their shares illiquid to combat short sellers. The company's shares rose 9% to $4.81, despite trading at a discount relative to its crypto holdings.

The crypto market is experiencing a widespread correction, with Bitcoin, XRP, and Ethereum all seeing drops. Liquidations of over $500 million occurred, with Bitcoin's recent run to $124,500 leading to a necessary reset in overheated positioning.