The crypto industry is making headlines again with major developments shaking up the market. From Ethereum’s stablecoin dominance to Japan’s regulatory crackdown and eyebrow-raising moves by Trump-linked projects, here’s your rundown of the latest action.
Ethereum’s Stablecoin Surge Cements Its Crypto Throne
Ethereum has hit a record-breaking $165 billion in stablecoin supply after a massive $5 billion in weekly inflows.
That’s more than double the stablecoin supply on the network since January 2024.
The network’s dominance leaves competitors in the dust. Tron trails at 27%, while Solana lags far behind with less than 4%.
Ethereum’s robust infrastructure continues to make it the go-to choice for stablecoin issuers, solidifying its role in the crypto industry’s real-world asset (RWA) market.
Japan’s FSA Proposes Tougher Crypto Regulations
Across the Pacific, Japan’s Financial Services Agency (FSA) is shaking things up by tightening the rules on the crypto industry.
The FSA suggested shifting cryptocurrency oversight from the Payment Services Act to the Financial Instruments and Exchange Act (FIEA).
This move would align crypto with securities laws, offering stronger protections for investors.
The FSA cited misleading white papers, false disclosures, unregistered businesses, scams, and weak exchange security for tightening regulation.
Trump-Linked Crypto Project Faces “New Age Mafia” Accusations
Drama is brewing in the crypto industry with World Liberty Financial (WLFI), the project tied to US President Donald Trump.
Crypto developer Bruno Skvorc accused WLFI of “stealing” his funds by locking his tokens and refusing to release them.
According to Skvorc, WLFI’s compliance team flagged his wallet as “high risk” due to blockchain exposure, leaving him and five other investors with fully locked tokens.
“They stole my money,” Skvorc posted, calling WLFI “the new age mafia”.
The controversy has sparked heated discussions in the crypto industry.
Trump-Linked Thumzup Bets Big on Dogecoin Mining
Meanwhile, another Trump-linked venture is diving headfirst into the crypto industry.
Thumzup Media Corporation is acquiring a Dogecoin mining business, pending shareholder approval.
The deal includes 2,500 operational mining rigs, with 1,000 more on order, totaling 3,500 Bitmain Antminers.
Following a $50 million share offering in August, Thumzup is pivoting from adtech to crypto, rebranding as Dogehash Technologies Holdings and trading under the ticker XDOG.
The company projects annual revenue of $22.7 million at current Dogecoin prices.
Stay tuned to Coin Medium for more updates as the crypto industry continues to evolve at breakneck speed.
