Your Essential Crypto Round-Up
Welcome to a week that will go down in group chats, trading rooms, and possibly textbooks. From toilet paper hoarding to treaty-breaking tirades on the White House lawn, we’ve lived through moments you truly had to see to believe. This week? The markets held their breath and thankfully exhaled.
The ceasefire is now holding, and crypto is making headlines as a legitimate asset in some of the world's biggest balance sheets. From legislative moves in the U.S. to Bitcoin treasuries in Norway, it’s been a ride. Buckle up, we’re diving into the chaos, clarity, and comedy of the crypto world.
The internet has changed the world. From finance to news, how we consume news in a particularly polarising world differs based on how we consume content and news.
Our relatives and we have lived through moments so historic that you'll say to yourself, 'I was there when.'
For some, it will be "Mr Gorgorchivh, tear down this wall."
For some of us, it was the toilet paper wars of the 2020s and now this.
In this era, textbooks will likely review the year as the one when international leaders, diplomats, news journalists, and the world looked to Trump's tweets to understand what was happening at any given moment.
However, for now, the ceasefire is holding, which is a welcome relief to traders, crypto enthusiasts like us, and everyone else on the planet.
In response to the ceasefire, the markets and, quite frankly, the world have survived the latest crisis, and we live to trade another day.
Top Gainers & Losers of the Week on the Wayex Platform
GENIUS isn't so genius - why people are worried about TETHER
As you are aware, we frequently discuss the Genius Act in the US Congress in this newsletter, as it's a significant development. For us, it's our version of the "BIG BEAUTIFUL BILL".
The GENIUS Act has the crypto community hyped up and polishing their dancing shoes for what is seen as the inevitable passing of this law of the Republican-controlled House.
But, although the market has responded overwhelmingly positively to the new legislation, several articles have insinuated that the law is a BIG RED FLAG for Tether.
Tether, the largest stablecoin issuer in the world, uses bitcoin and gold to back its coin and doesn't conduct public audits, but does release quarterly financial statements. However, it is not enough to meet the stringent treasury requirements of the Genius Act.
It caused a stir when it refused to comply with new crypto legislation from the EU, leaving the European Union in a state of non-compliance and launching a scathing exit interview.
Tether is no stranger to regulatory scrutiny, having settled a case with the New York Attorney General. Since this settlement, they have provided quarterly updates on their account; however, these updates won't be sufficient to circumvent the requirements.
Currently, Tether is remaining silent….
……. Moving right along……….
Tether is headquartered in El Salvador and is licensed to provide crypto services there. Although they were loud and proud when they left the EU, so far, they have been silent but have previously hinted at potentially operating a separate US entity to remain in the market.
Tether will have some time if (but more likely when) the bill passes. Currently, the Senate requires companies to comply with the law within 3 years, while the House Representatives want to limit the time to 18 months. As the bill is currently being debated in the House of Representatives, Tether has some time before it passes.
The NBC has reported that President Trump wants this on his desk as soon as possible.
However, as the bill is now with the House of Representatives, we'll be waiting here. Patiently.
Powell is just a man who loves BTC like the rest of us.
US Federal Reserve Chair Jerome Powell had a productive day while participating in public hearings with Congress. These hearings are a requirement that the Fed Chair appear before Congress to present monetary policy, a tradition that dates back to 1978.
Think of it like attending a Performance Review with the Executive Team in front of a thousand people, all while being televised live.
So you know a normal time.
Powell was previously a crypto sceptic and was chair of the Federal Reserve during the Biden era, when the SEC was involved in several high-profile lawsuits against crypto companies.
During his testimony, he acknowledged that cryptocurrency is now more mainstream and gave a clear indicator of his support for the market. In his testimony, he noted the maturing marketing, as well as the Federal Reserve's reversal of several decisions made during cryptocurrency's early development phase.
Your crypto is now part of your Asset mix in the USA
The Director of the Federal Housing Finance Agency (FHFC) has ordered Fannie Mae and Fannie Mac to prepare to accept cryptocurrencies as part of the applicants’ assets.
Fannie Mae and Fannie Mac are government-sponsored enterprises that operate privately. According to Investpodia, they back most of the residential mortgages in the USA.
Matt Cole’s tweet summarises it perfectly.
The Federal Government is adding BTC to its balance sheet, meaning the traditional world of finance, which once shunned crypto users, is coming on board.
Is crypto now the popular kid in finance?
We at Wayex have reported on the treasury news emerging from various sources, including South Korea, the USA, and now Norway.
Green Minerals AS, a Norwegian deep-sea mining company, has announced the adoption of a Bitcoin Treasury Strategy as part of its broader blockchain implementation plan, as first reported in its investor statement. They announced the move as an attempt to diversify the company's treasury assets away from traditional fiat currencies, which are increasingly susceptible to inflation and geopolitical uncertainties. The company plans to finance up to USD 1.2 billion in collaboration with partners, with Bitcoin exposure forming a cornerstone of this financing.
And not to be outdone, long-term crypto advocate and investor announced a new company, ProCap Financial, which is a SPAC merger of ProCap BTC and Columbus Circle Capital 1 through a SPAC raise. The goal is to hold up to 1 billion in Bitcoin, and plans to launch a range of financial services through the new company in the future. ProCap Financial raised $750 million, comprising $500 million in equity, as noted by Reuters, which reportedly marks the most significant initial fundraising effort for a Bitcoin treasury.
These announcements indicate that BTC is becoming an integral part of Treasury strategy across financial institutions, with Smarter Web UK announcing a 15.2 million BTC acquisition. While not all Treasury Strategies are focused on acquiring BTC, Hong Kong-based Nano Labs has announced a $500 million plan to purchase the token BNB.
Cryptocurrency is becoming an integral part of the traditional finance space from which it originated. However, some analysts, such as Clem Chalmers from Forbes Digital Asset, argue that the Treasury's acquisition of BTC is a bubble. However, companies such as ProCap Financial, Green Minerals AS and the US states of Texas disagree and continue to double down on the BTC reserve race.
What’s making us laugh this week?
Founder’s Corner
We’re witnessing a pivotal shift; crypto is no longer a fringe concept. It’s becoming foundational. When governments, institutions, and publicly traded companies begin to position Bitcoin as a treasury-grade asset, it signals a profound shift in how the world views digital assets.
This past week has been a reminder of just how closely the crypto market is now tied to global events. With geopolitical tensions flaring and then easing, many expected sharp volatility, the kind we’ve historically seen in times of crisis. But something was different this time.
Instead of panic-driven swings, the market showed resilience and maturity. It felt like a “wait and see” moment, a sign that crypto participants are becoming more measured and strategic. That kind of behaviour points to a growing presence of institutional capital and longer-term conviction across the board.
Despite the turmoil abroad, there were also bright spots, including increased global adoption and more news about how crypto will become a more mainstream part of society. It’s good to see that optimism hasn’t left the room, and neither have we.
Richard Voice, Co-Founder
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Until next time,
The Wayex Team
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