Crypto in July 2025: Crypto Week and the GENIUS Act Becomes Law
2025-08-01
July was the month US crypto policy stopped being a promise and became law. Congress dedicated a week to digital-asset bills, the first federal stablecoin framework was signed, Bitcoin printed a new record, and a new breed of public company began hoovering up Ethereum. Here is the recap.
"Crypto Week"
The House designated the week of July 14 as "Crypto Week" to push three industry-friendly bills: the GENIUS Act (stablecoins), the CLARITY Act (market structure), and the Anti-CBDC Surveillance State Act. Bitcoin marked the occasion by hitting a new all-time high near $123,000 on July 14 on a wave of legislative optimism.
Two Landmark Bills
On July 17, the House passed the CLARITY Act 294-134, a market-structure bill that would shift primary crypto oversight to the CFTC and define when a digital asset is a commodity versus a security. (It still needed the Senate.) Then, on July 18, Trump signed the GENIUS Act into law -- the first US federal framework for payment stablecoins, requiring 100% reserve backing in cash and short-term Treasuries, monthly disclosures, licensing, and AML/KYC across a roughly $250 billion stablecoin industry.
The Ethereum Treasury Race
The defining new narrative of the summer was digital-asset treasury (DAT) companies pivoting to Ethereum. SharpLink Gaming (SBET), backed by Ethereum co-founder Joseph Lubin, held around 280,000 ETH (~$1 billion) by mid-July, its stock up roughly 600% since the pivot. BitMine Immersion (BMNR), backed by Tom Lee and Peter Thiel, launched options on the NYSE on July 23 and declared a goal of acquiring up to 5% of all circulating ETH. The buying pressure helped push ETH from the low-$2,000s toward ~$3,500.
Hacks
Exploits totaled roughly $127-142 million for the month, led by a ~$42 million GMX V1 exploit on July 9 and a ~$44 million breach of India's CoinDCX.
The Takeaway
July turned regulatory uncertainty -- crypto's biggest overhang for a decade -- into a concrete framework, and a new class of corporate buyer emerged to absorb supply. Both are structural tailwinds, but treasury-company leverage is a double-edged sword worth watching. Our models factor flow and structure into every forecast; see them live on the dashboard.