Crypto Bytes | Friday 22 August 2025

🪙 Stablecoins & Payments

🦊 MetaMask unveils mUSD: A Bridge issued stablecoin (“MetaMask USD”) is set to launch on Ethereum & Linea later this year and will be minted via M0's decentralized infrastructure. Metamask plans deep integrations across Linea's DeFi stack.🔗

🦬 Wyoming launches FRNT: The state-issued, Visa-supported stablecoin debuts across seven blockchains, pioneering US state issued stablecoins. 🔗

💼 Bullish (BLSH) IPO settled entirely in stablecoins: The exchange received all $1.15B of IPO proceeds in dollar/euro stablecoins from multiple issuers, an unprecedented move in U.S. capital markets. 🔗

🏛️ Paxos seeks OCC national trust charter: The issuer behind PYUSD and other tokens applied to convert its NYDFS charter to a U.S. national trust bank charter for federal oversight. 🔗

🧠 GENIUS Act tailwind: Global stablecoin supply jumped by ~$18B (≈7%) in ~1 month after the U.S. law’s passage, per Defi Llama data. 🔗🔗

🏢 Corporate & Markets

⚠️ Credit risk for BTC treasuries: Morningstar DBRS warns that volatility, liquidity, custody and counterparty exposures can elevate credit risk for corporates adopting crypto as treasury assets. 🔗🔗

🛶 ARK adds exposure: ARK Investment Management LLC bought $21.2M of Bullish and $16.2M of Robinhood shares. 🔗

🦾 SharpLink loads ETH: The Ethereum treasury firm purchased 143,593 ETH for $667.4M (~$4,648 avg), lifting holdings to ~740,760 ETH. 🔗

🔥 Markets & Memecoins

🧨 Pump.fun reclaims the crown: After rival turmoil, Pump.fun once again leads Solana launchpads and just logged its strongest revenue week since February. 🔗🔗

🧭 Policy & Advocacy

🛡️ DeFi safe harbor proposal: a16z Crypto and the DeFi Education Fund formally asked the SEC for a “safe harbor” for broker-rules for non-custodial blockchain app interfaces. 🔗🔗

🤝Partnerships

🏉 Sports × Crypto: The DHL Stormers have named VALR their official crypto exchange partner in a multi-year deal covering all Stormers teams. 🔗