Trading Desk Insights
Risk assets caught a bid on Friday as global markets firmed up into the weekend. Crypto, equities, and gold futures all moved higher, while oil faced pressure, heading for its sharpest weekly loss since June. BTC is holding above $117K, while ETH reclaimed the $4K mark.
ETH continues to see strong institutional traction, with the 7-day average for daily transactions hitting a new record of 1.74 million. Staked ETH also reached an all-time high, likely due to the SEC’s recent clarification that certain liquid staking models do not fall under the scope of the 1933 Securities Act, removing a key overhang for institutional staking products.
XRP ripped 11% on heavy volume, trading over 300 million units, after a regulatory overhang was lifted. The SEC and Ripple Labs agreed to end their legal appeals, clearing the path for broader institutional adoption.
Finally, two crypto-friendly policy updates out of Trump’s camp closed out the week:
- A proposal to allow crypto and other alternatives in 401(k) plans, potentially tapping into $8.7 trillion in retirement assets.
- A push for protections against crypto debanking, signaling stronger support for digital assets in the U.S. financial system.
The News Room
Trump Signs Executive Order to End Banking Discrimination Against Crypto Industry
On August 7, 2025, President Trump signed an executive order prohibiting federal regulators from using "reputational risk" as justification for pressuring banks to cut ties with compliant crypto firms. This directive combats what industry insiders have dubbed “Operation Choke Point 2.0” — informal regulatory pressure leading to unexplained debanking of lawful digital‑asset businesses. The order enshrines recent commitments by the FDIC, Fed, and OCC to avoid reputational assessments in banking supervision and supports concurrent legislative efforts aimed at protecting emerging industries like crypto.
Ripple and SEC Settle, Sparking XRP’s 10% Rally and BlackRock ETF Speculation
Ripple and the SEC have agreed to drop their appeals in the long‑running lawsuit, concluding that XRP is not a security. The resolution led XRP to jump over 10% to $3.33. The legal clarity has prompted speculation that BlackRock could now launch a spot XRP ETF under its iShares brand, though analysts note uncertainty: while possibilities seem real, there’s debate over whether BlackRock will pursue a third crypto fund despite bullish estimates (up to 95% chance) for approval by year‑end.
Chainlink Launches On‑Chain Strategic LINK Reserve to Boost Long‑Term Network Sustainability
Chainlink has unveiled a new on‑chain “Chainlink Reserve” — a treasury that accumulates LINK tokens by converting revenue from enterprise and blockchain services. Built on its Payment Abstraction infrastructure, the reserve has already secured over $1 million in LINK and is designed as a long‑term fund with no withdrawals expected for years. All payments, whether from stablecoins, fiat, or gas tokens, are automatically converted to LINK, strengthening the protocol’s economic model. The initiative, combined with upcoming efficiency improvements like the CRE, aims to support Chainlink’s dominance amid rising institutional integration and real‑world asset growth.
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This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
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