Bit's Weekly Web3 News Selection:
[Federal Housing Finance Agency Director: Ordered Fannie Mae and Freddie Mac to Prepare for Incorporating Cryptocurrencies into Mortgage Assets]
On Wednesday local time, Pulte, the director of the Federal Housing Finance Agency (FHFA), posted on social media: "After in-depth research and following President Trump's vision of making the United States a 'cryptocurrency capital', today I have ordered Fannie Mae and Freddie Mac to prepare to list cryptocurrencies as recognized assets in mortgage loan applications." This directive marks a potential major shift in the asset review standards for assessing mortgage loan qualifications by US government-supported enterprises, while also aligning with the Trump administration's established goal of promoting cryptocurrency proliferation in the United States.
[Hong Kong Releases Digital Asset Development Policy Declaration 2.0]
According to Jin10 data, the Hong Kong Special Administrative Region government today (26th) released the "Hong Kong Digital Asset Development Policy Declaration 2.0", reaffirming the government's commitment to building Hong Kong into a global innovation center in the digital asset field. The new policy declaration is based on the initiatives proposed in the first policy declaration in October 2022.
Financial Secretary Chen Maobo stated that the "Policy Declaration 2.0" demonstrates the government's vision for digital asset development, and will promote the diversification of application scenarios by practically demonstrating the substantive applications of tokenization. By combining prudent regulation with market innovation encouragement, it aims to build a more prosperous digital asset ecosystem integrated with the real economy and social life, bringing benefits to the economy and society while consolidating Hong Kong's leading position as an international financial center.
[Ripple CEO: Will Withdraw Cross-Appeal Against US SEC, Litigation Expected to Conclude]
Ripple CEO Brad Garlinghouse announced today on X platform (formerly Twitter) that the company will withdraw its cross-appeal against the US Securities and Exchange Commission (SEC) and expects the SEC to withdraw its appeal as previously stated. Garlinghouse said this move marks a potential "once and for all" conclusion to their years-long legal dispute, and the company will focus on "building the value internet".
Previously, Ripple's Chief Legal Officer Stuart Alderoty had noted on June 26 that the court had given Ripple two choices: either dismiss their appeal against the historical institutional sales ruling or continue the appeal. He emphasized that regardless of the chosen path, XRP's legal status as a non-security remains unchanged. Ripple's withdrawal of the cross-appeal, combined with the SEC's previous stance, suggests that the highly watched Ripple-SEC litigation may be coming to an end.
[Sources: OKX Considering US IPO]
According to crypto journalist Yueqi Yang from The Information, after returning to the US market in April this year, cryptocurrency exchange OKX is considering an initial public offering (IPO) in the United States.
[Trump: Cryptocurrency is a Very Interesting Thing, We've Built a Very Strong Industry]
US President Trump stated today that cryptocurrency is a very interesting thing, and they have built a very strong industry. Cryptocurrencies have created job opportunities, and Bitcoin has reduced pressure on the US dollar. During the previous stock market decline, cryptocurrencies' value dropped less than other assets, highlighting the resilience of the crypto sector.
[Data: Stablecoin Startup VC Funding Exceeds 2021 Peak]
According to the latest data from The Block, venture capital activity in stablecoins and payment categories has shown a significant rebound. Stablecoin startup VC funding has surpassed the 2021 peak, with 43 and 42 transactions recorded in the third and fourth quarters of 2024, setting a historical quarterly transaction record in the field. This growth is particularly noteworthy, as the total transactions in this category for 2021 were 87. In the first quarter of 2025, 7.5% of all venture capital transactions were directed towards payment providers or stablecoin issuers. Currently, the stablecoin and payment category is one of the few crypto areas that have exceeded 2021 performance indicators.
The report indicates that the rapid rise of stablecoin-enabled companies has attracted broad mainstream attention and institutional interest beyond traditional crypto investors. Circle's highly successful IPO played a key catalytic role, proving to traditional investors that stablecoin infrastructure can generate substantial returns and a sustainable business model. This institutional recognition has driven significant venture capital into the broader stablecoin ecosystem in recent months.
[Bakkt Updates Investment Policy and Announces $1 Billion Securities Issuance Plan to Incorporate Bitcoin and Other Digital Assets into Company Treasury]
According to documents published by Bitcoin Magazine, the digital asset-focused public company Bakkt has updated its investment policy and announced a $1 billion securities issuance plan aimed at incorporating digital assets into its treasury.
The document screenshots show that to support this new strategy and provide funding flexibility for potential digital asset acquisitions, Bakkt has submitted a hybrid securities issuance plan of up to $1 billion. The plan covers various security types including Class A common stock, preferred stock, debt securities, warrants, and units. The company states that it may use proceeds from the issuance, excess cash, or existing capital sources to acquire digital assets, subject to investment policy restrictions.
Additionally, Bakkt plans to explore other opportunistic financing options, including issuing convertible notes, bonds, or other debt instruments for purchasing digital assets or other purposes consistent with its investment policy.
[Billionaire Investor Philippe Laffont: Bitcoin Has Potential to Become One of the Most Valuable Assets Globally in the Next Five Years]
Billionaire investor and founder of hedge fund and tech venture capital firm Coatue Management, Philippe Laffont, recently released his list of "40 Best Companies by 2030", which unexpectedly included the world's largest cryptocurrency, Bitcoin.
In an interview with CNBC's "Squawk Box" on June 25, Laffont placed Bitcoin alongside tech giants like Microsoft, Nvidia, Amazon, and Meta, believing Bitcoin has the potential to become one of the most valuable assets globally in the next five years. Laffont, who has previously admitted to missing early Bitcoin investment opportunities, believes Bitcoin's market valuation could potentially double by 2030, possibly reaching $5 trillion. Notably, his "Fantastic 40" list did not include Apple or Alphabet (Google).
Coatue Management is a technology-focused investment firm whose portfolio already includes on-chain analytics platforms like Dune Analytics and Chainalysis, as well as crypto mining companies like Hut 8.
[Genius Group Board Approves Potential $1 Billion Litigation Proceeds Allocation Plan, Aims to Support BTC Accumulation]
The board of the US-listed AI edtech company Genius Group has approved an allocation plan where, if the company wins any litigation compensation, 50% of the net proceeds will be used for special dividends to shareholders, and the other 50% will be invested in Bitcoin as corporate treasury reserves. Genius Group is currently pursuing two compensation claims totaling over $1 billion.
[Multiple Former Hedge Fund Executives Plan to Raise $100 Million to Build BNB Position, Create BNB Fiscal Strategy Company]
Three former Coral Capital Holdings executives - Patrick Horsman, Joshua Kruger, and Johnathan Pasch - are advancing a plan to raise $100 million, intending to acquire and hold BNB tokens through a Nasdaq-listed holding company.
Sources reveal that the company will be renamed Build & Build Corporation after fundraising and will formally begin establishing a treasury centered on BNB. If successfully implemented, it would become the first listed company with BNB as its core reserve asset.
This move is considered an evolution of another "crypto treasury" operation following Michael Saylor's Strategy's approach of using Bitcoin as a company treasury. In recent years, multiple institutions including Tether, SoftBank Group, Trump's social media company, and others have followed crypto asset holding plans, with some companies shifting towards non-Bitcoin mainstream tokens such as Ethereum and Solana.
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