SOTM July 31-August 6, 2025

Welcome to our 232nd issue of State of the Market, where we provide an overview of crypto market activity from July 31 – August 6, 2025.

This week in crypto markets:

  • Crypto markets partially rebounded midweek after turbulence sparked by new U.S. tariffs and weaker than expected jobs data.
  • President Trump is expected to sign an executive order allowing crypto investments in 401(k) retirement plans.
  • The SEC released a statement clarifying that liquid staking tokens are not securities.
  • Ripple announced a $200M acquisition of stablecoin payments firm Rail to expand RLUSD adoption.
  • Visa expanded its stablecoin settlement infrastructure to support USDG, PYUSD, EURC, and new chains like Stellar and Avalanche.

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