WuBlockchain Weekly: Cryptocurrencies Included in the Investment Scope of US 401(k) Pension Plans, Liquid Staking Does Not Constitute a Securities Offering, etc

6 min readAug 8, 2025

1. White House Orders to Relax 401(k) Investment Scope, Include Digital Assets and Other Alternative Assets link

The White House announced that President Donald J. Trump has signed an executive order allowing 401(k) investors to access alternative assets such as private equity, real estate, and digital assets to enhance returns and diversify risks. The order requires the Secretary of Labor to review and clarify the Department of Labor’s fiduciary duties and related procedures regarding investments in alternative assets in 401(k) and other defined contribution plans under ERISA jurisdiction, and to collaborate with federal agencies such as the Treasury Department and the Securities and Exchange Commission to promote regulatory adjustments. It also directs the SEC to revise regulations to facilitate the allocation of such assets by retirement savings plans.

2. White House Plans to Issue Executive Order to Punish “Debanking” Behavior for Political Reasons link

The White House is preparing to sign an executive order that aims to fine banks for closing accounts for political reasons, with a focus on addressing the alleged discrimination against conservatives and cryptocurrency — related companies. The order requires regulatory agencies to investigate whether financial institutions have violated the Equal Credit Opportunity Act, antitrust laws, or consumer — protection laws. Violators may face fines, consent orders, or other disciplinary actions.

3. Trump Nominates Stephen Miran for Vacant Seat on the Federal Reserve Board link

President Donald Trump has appointed Stephen Miran, current Chair of the President’s Council of Economic Advisers, to fill the vacant seat on the Federal Reserve Board, with a term lasting until January 31, 2026. He will replace Adriana Kugler, who recently resigned to return to teaching at Georgetown University. Miran previously served at the U.S. Department of the Treasury and Fidelity Investments, and advocates for simplifying cryptocurrency regulations.

4. SEC Issues Statement: Specifies That Certain Liquid Staking Activities Generally Do Not Constitute Securities Issuance and Sale link

The Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC) issued a statement clarifying that under specific structures, liquid staking and related staking receipt tokens generally do not involve the offer or sale of securities as defined in Section 2(a)(1) of the Securities Act of 1933 or Section 3(a)(10) of the Securities Exchange Act of 1934, and thus do not require registration or the application of exemptions. Such arrangements refer to users depositing crypto assets with a protocol or third-party service provider for staking and receiving equivalent receipts to prove ownership of the staked assets and their rewards. The receipts themselves do not generate returns, and their value is derived from the underlying staked assets rather than any managerial or entrepreneurial efforts of a third party.

5. US CFTC Announces New “Crypto Sprint” Initiative link

The US Commodity Futures Trading Commission (CFTC) has announced the launch of a new “Crypto Sprint” initiative, led by the Office of Innovation. This initiative aims to strengthen regulatory communication and enhance market participants’ understanding of compliance. The project will focus on areas such as tokenized assets, decentralized finance (DeFi), and decentralized autonomous organizations (DAOs), covering key issues such as registration, regulation, and risk management.

The CFTC stated that this measure is a key step in implementing the “Digital Asset Regulatory Roadmap” previously proposed by the Trump — administration and will actively cooperate with the Securities and Exchange Commission (SEC). It is reported that the CFTC and the SEC will work together under the newly — named “Project Crypto” to address long — standing jurisdictional ambiguities, accelerate the formulation of policies, and provide the industry with a more predictable and transparent regulatory path.

6. GENIUS Act Bans Interest Payments, Coinbase and PayPal Continue to Offer Stable — coin Rewards link

Despite the GENIUS Act prohibiting the payment of interest on stablecoins to users, Coinbase and PayPal continue to offer rewards for USDC and PYUSD, with annualized rates of approximately 4% and 3.7% respectively. Both companies state that they are not the issuers, and the rewards come from profit sharing on their respective platforms rather than interest, thus not being subject to the ban.

7. Former UK Chancellor of the Exchequer: UK Lags Behind in Crypto Field link

Former UK Chancellor of the Exchequer George Osborne has criticized the Labour government’s conservative stance on cryptocurrency policy, warning that the UK is being left behind by the US, Europe and Asian regions. He pointed out that the current crypto revolution is comparable to the “Big Bang” of the 1980s, and if the UK continues to hesitate, it will miss the historic opportunity to reshape its position as a global financial center. Although the UK has published crypto regulatory proposals, the market generally believes that progress is slow. Osborne is currently a member of Coinbase’s Global Advisory Council.

8. France’s Far — Right Party National Rally Drafts Bill to Legislate for Nuclear — powered Crypto Mining link

France’s far-right party Rassemblement National is preparing to draft a bill proposing to use excess electricity from nuclear power plants for Bitcoin mining. In 2016, Marine Le Pen, the party’s presidential candidate, stated that she would ban virtual currencies including Bitcoin, on the grounds that they are products manipulated by the “elite class” and “lobbying forces of Wall Street investment banks”; by 2022, she shifted to calling for strengthened regulation; and by 2025, she now advocates directly “producing” cryptocurrencies.

9. BitMine Currently Holds Over 833,000 Ethereum Coins, SharpLink Holds 521,939 Coins link

BitMine Immersion Technologies (NYSE: BMNR), owned by Tom Lee, announced that it currently holds over 833,000 Ethereum, with a total value of approximately $2.9 billion, making it the world’s largest ETH reserve entity. BMNR has accelerated its position building in the past 35 days, aiming to hoard 5% of ETH’s circulating supply and generate returns through staking. Investors behind BitMine include Bill Miller III, Cathie Wood, and Peter Thiel’s Founders Fund.

SharpLink tweeted that it currently holds 521,939 ETH. Between July 28 and August 3, SharpLink purchased 83,561 Ethereum at a price of $303 million, with an average price of $3,634. Currently, all ETH held by SharpLink is involved in staking, accumulating 929 ETH in staking rewards.

10. Vitalik: Should Prioritize Advancing ZK Fast Withdrawal, Aims to Achieve Cross — L2 Instant Settlement on L1 link

Vitalik Buterin stated that currently, several major Ethereum Layer 2 networks have entered the first phase of security standards, and the next goal should be to achieve fast native withdrawals based on ZK proof systems, prioritizing this over advancing to the second phase. He suggested adopting a “2-of-3” hybrid proof system consisting of ZK, OP, and TEE to balance security and speed, noting that as ZK technology continues to mature and costs decrease, this path is becoming more feasible. The ultimate goal is to complete nearly instant cross-L2 asset transfers and liquidations on L1 through aggregation technology under economically acceptable premises.

Fundraising

SharpLink completed a $200 million private placement to expand its Ethereum reserves to $2 billion. link
Verb Technology plans to raise $558 million to establish a TON treasury. link
Satsuma closed approximately $218 million in convertible note financing, with over half settled in Bitcoin. link
Mill City Ventures III announced an up to $500 million equity financing agreement with A.G.P. link
OpenMind announced the completion of a $20 million financing round, led by Pantera Capital. link
Tether led a €30 million financing round in Bit2Me. link
Crypto derivatives trading app Euphoria announced the completion of a $7.5 million seed round. link
UK blockchain project BOB announced the completion of a new $9.5 million financing round. link
The Smarter Web Company raised £8.1 million to purchase more Bitcoin. link
On-chain trading platform ant.fun completed its Series A financing, led by Folkman Venture. link
Subzero Labs announced the completion of a $20 million seed round. link
Perle announced the completion of a $9 million seed round. link

Learn more, check out crypto-fundraising.info.

WuBlockchain Weekly: Cryptocurrencies Included in the Investment Scope of US 401(k) Pension Plans, Liquid Staking Does Not Constitute a Securities Offering, etc

Written by WuBlockchain