Encryption Weekly: White House advisor's sudden resignation, conclusion of the Ripple case, Harvard getting on board BTC, Trump authorizes encryption retirement funds

The past week has seen rapid changes in the crypto space: Trump administration crypto advisor Bo Hines suddenly resigns from the White House; Ripple's three-year lawsuit with the SEC finally comes to an end with a massive $200 million acquisition; Harvard and Brown University make significant moves to get on board Bitcoin ETF; Trump signs an executive order allowing 401(k) retirement accounts to invest in Crypto Assets; Tornado Cash founder convicted of a crime; Paxos pays $26.5 million in New York state regulatory settlement; mainstream CEX integrates DEX aggregation protocols; Animoca establishes a licensed stablecoin institution through a joint venture in Hong Kong.

White House encryption advisor leaves abruptly, deputy set to take over soon The Presidential Council of Advisors for Digital Assets under President Trump is experiencing another personnel shake-up. Core policy advisor Bo Hines, who has been in office for only seven months, announced his resignation as executive director and plans to return to the private sector. His deputy, Patrick Witt, is expected to take over the leadership of this key Crypto Assets policy-making agency. This move has raised significant concerns in the industry regarding the continuity of the Trump administration's Crypto Assets agenda.

Ripple-SEC's three-year legal battle comes to an end, $200 million acquisition to expand stablecoin payments The legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), which lasted for three years, has come to an end this week. Both parties jointly submitted a motion to the Second Circuit Court of Appeals to voluntarily withdraw all appeals and bear their own litigation costs. Meanwhile, this blockchain payment giant announced an acquisition of the Toronto stablecoin payment platform Rail for $200 million, with the transaction expected to be completed in the fourth quarter, significantly enhancing its cross-border stablecoin settlement network layout.

Trump family project raises 1.5 billion, targeting on-chain national debt company structure World Liberty Financial (WLF), supported by the Trump family, is seeking up to $1.5 billion in financing to build a publicly traded company structure that holds WLFI tokens. It is reported that the project has reached out to investors in the encryption and technology sectors, promoting an innovative "on-chain treasury company" business model, exploring new paths for tokenized government bonds.

Harvard and Brown University make a significant entry, investing heavily in Bitcoin ETF Top American universities officially enter the Bitcoin market. Harvard University's wholly-owned subsidiary, Harvard Management Company, disclosed through SEC 13F filings that it holds $116 million worth of BlackRock iShares Bitcoin Trust (IBIT). Brown University also confirmed its Bitcoin asset exposure through similar regulatory documents, marking the institutional acceptance of Crypto Assets by traditional higher education funds.

Mainstream CEX integrates DEX aggregation protocol, unlocking millions of long-tail Crypto Assets The largest cryptocurrency exchange in the United States announced last Friday the integration of decentralized exchange (DEX) aggregation functionality, allowing users to directly access millions of long-tail tokens that were previously unavailable for trading on its platform. This move significantly lowers the barrier for users to participate in DeFi, reinforcing its "one-stop crypto portal" strategic positioning.

Animoca establishes a licensed stablecoin joint venture Anchorpoint in Hong Kong The well-known Web3 investment firm Animoca Brands has teamed up with Standard Chartered Bank Hong Kong and Hong Kong Telecom to establish a joint venture called Anchorpoint, focusing on the issuance of licensed stablecoins in Hong Kong. The new company will develop stablecoin business models that comply with regulatory frameworks, helping Hong Kong strengthen its position as a global virtual asset center.

Trump signs executive order authorizing 401(k) retirement funds to invest in Crypto Assets Former President Trump signed a key executive order this week, officially allowing mainstream retirement plans like 401(k) to include crypto assets as investment options. This policy shift may force traditional wealth management institutions to reevaluate their crypto asset allocation strategies, potentially unlocking trillions in retirement market funds.

Paxos pays $26.5 million to settle New York state regulatory charges Stablecoin issuer Paxos has agreed to pay a $26.5 million fine to settle allegations related to its previous collaboration with Binance with the New York State Department of Financial Services (NYDFS). This case highlights the ongoing pressure from state-level regulators in the United States regarding compliance in stablecoin operations.

Tornado Cash founder found guilty of money laundering A Manhattan jury found Tornado Cash co-founder Roman Storm guilty of conspiracy for "operating an unlicensed money transfer business," with sentencing to be determined.

Conclusion: This week, the crypto ecosystem has advanced multidimensionally amidst regulatory clearing, institutional entry, product innovation, and legal tug-of-war. The conclusion of the Ripple case alleviates industry compliance anxiety, while breakthroughs in top universities and pension policies indicate the opening of incremental capital channels. However, the heavy-handed regulatory measures and high-level personnel changes remind the industry that compliance construction is a long-term task. The pilot of licensed stablecoins in Hong Kong and the integration of mainstream CEXs with DEXs signify that mainstream platforms are accelerating their embrace of a decentralized future.