Crypto Weekly Roundup Covers Market Swings, Regulations, Developments

Check the crypto weekly roundup below, for all the important updates:

Figure Technologies to List on Nasdaq as FIGR

Figure Technologies is seeking a Nasdaq IPO under the symbol "FIGR" at $3.3B valuation and $400M raising with 20M shares offered at $22 to $25. Backed by BofA Securities, Jefferies, and Goldman Sachs, the blockchain lender disclosed $191M revenue and $29M net income in the first half of 2025. Mike Cagney-founded Figure tokenizes assets such as loans and releases more than $16B in home equity.

Matrixport Swaps from ETH to BTC

Matrixport shocked markets by selling almost 96,000 ETH for $452M and purchasing $272M of Bitcoin. The action reflects decreasing confidence in Ethereum's short-term appreciation as it grapples with resistance, yet Bitcoin demonstrates more momentum and demand. Analysts opine that Bitcoin may go on further higher if purchasing support is maintained, although Ethereum is still significant in DeFi and NFTs.

Wyoming Issues First U.S. State Stablecoin

Wyoming has introduced the Frontier Stable Token (FRNT), the first state-guaranteed stablecoin in the United States, fully reserved with cash and short-term Treasuries. FRNT operates on seven blockchains, including Ethereum, Solana, and Avalanche, using LayerZero's OFT standard. The reserves are managed by Franklin Advisers, security is offered by Fireblocks, and audits are performed by The Network Firm. Wyoming will utilize earnings to pay for state schools unlike private issuers. This move makes Wyoming a pioneer in the $285B stablecoin market.

YZi Labs and 10X Capital Establish BNB Treasury Company

YZi Labs and 10X Capital are building The BNB Treasury Company, an asset manager for the BNBChain ecosystem, which is to list on the U.S. YZi Labs is in charge of $10B+ assets and is partnering with executives such as David Namdar (former Galaxy Digital) and Russell Read (former CalPERS CIO). While Binance founder Changpeng Zhao cannot be actively involved due to the limitations, his company is backing the venture.

Ethereum Rises After Powell's Remarks

Ethereum price surged following the Fed Chair Jerome Powell's indication of a potential rate cut in September, which lifted risk assets. Institutional buying, such as that by BlackRock, drove the surge. Analysts expect Ethereum to test higher levels, even as short-term pullbacks remain likely.

BingX Pre-Markets WLFI with 25x Leverage

World Liberty Financial's token (WLFI) started pre-market trading on BingX with up to 25x leverage ahead of its September 1 release. The crypto project has already received $550M, with leading exchanges arranging listings. 20% of early tokens will be released at launch with the remainder determined by community governance. Early demand is expected to be strong.

Kanye West Launches YZY Memecoin on Solana

Kanye West launched the YZY memecoin on Solana . This crypto rapidly reached multi-billion valuations before plummeting. Six wallets control over 90% of the supply, and this is a concern. YE Pay and YZY Card are planned to provide the token with real-world use, but Solana's network congestion and SEC regulation are issues. Experts caution celebrity-endorsed tokens are of high volatility and legal danger.

First Leveraged XRP ETF Filing Submitted

Tidal Trust II has submitted to the SEC to introduce the Defiance Leveraged XRP ETF, a first for the U.S. The fund would seek 150–200% of the daily movements of Ripple using options and swaps, hedging with call spreads to minimize risk. Approvals would be a landmark for XRP crypto products, but SEC prudence is likely to impede momentum.

CFTC Expands Crypto Sprint Regulation Drive

The U.S. CFTC has launched the second phase of its Crypto Sprint program, open to public comment until October 20, 2025. The second phase aims at regulating leveraged and margined retail trading on registered exchanges. The effort is consistent with the vision of the Trump administration to make the U.S. a global leader in being a crypto hub.

Pi Hackathon 2025 Begins

Pi Network has started its first Hackathon in the Open Network era, running from August 21 to October 15 with a 160,000-token prize pool. More than 2,100 developers from over 100 countries have joined to build real applications. Teams can win up to 75,000 tokens. The event is expected to drive adoption and strengthen Pi’s ecosystem.