Crypto’s New Best Friend: The SEC!

Matt Hougan believes the market is underestimating the SEC’s dramatic shift toward crypto under Paul Atkins.

Author

Danielle du Toit
August 06, 2025

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Here's what we've got for you today:

  • SEC’s Crypto Pivot Has ‘Not Been Priced In,’ Bitwise Exec Says

  • Brazil Weighs National Bitcoin Reserve Proposal

  • Binance Founder Changpeng Zhao Seeks Dismissal of $1.8B FTX Lawsuit

  • Pump.fun Reclaims Top Spot Over LetsBonk in 24-Hour Meme Coin Launches

Matt Hougan believes the market is underestimating the SEC’s dramatic shift toward crypto under new Chair Paul Atkins. 

  • Bitwise CIO Matt Hougan believes crypto investors may be underestimating the bullish implications of SEC Chair Paul Atkins’ recent pro-crypto speech.

  • Atkins shared a vision for integrating blockchain into financial markets during a July 31 address at the America First Policy Institute.

  • Hougan called it “the most bullish document” on crypto he’s seen and said it should prompt major capital and career shifts into the industry.

Brazil is taking steps toward becoming a Bitcoin-holding nation, with a public hearing scheduled for Aug. 20.

  • Brazil's House of Representatives will hold a public hearing on Aug. 20 to discuss a bill proposing a national Bitcoin reserve.

  • The bill seeks to allocate up to 5% of Brazil’s $300 billion treasury—which is around $15 billion—into Bitcoin.

  • The main goal of the initiative is to protect reserves from forex and geopolitical risks while also promoting blockchain adoption in the public and private sectors.

CZ asked a court to dismiss FTX’s $1.8 billion lawsuit over a share buyback deal that the bankrupt exchange claims was funded with misused assets.

  • Former Binance CEO Changpeng Zhao asked a Delaware court to dismiss FTX’s $1.8 billion lawsuit. He called the claims baseless and overly reliant on blaming him for Sam Bankman-Fried’s misconduct.

  • Zhao also argued the case lacks US jurisdiction, as the events and parties involved are mostly outside the country.

  • The lawsuit alleges FTX used customer funds to repurchase Binance’s shares in 2021, a deal FTX’s current legal team now claims was fraudulent.

Solana meme coin launchpad Pump.fun surpassed LetsBonk in terms of new token launches in the past 24 hours.

  • According to Dune Analytics, Pump.fun reclaimed the lead in daily Solana meme coin launches with 13,690 new tokens. This allowed it to narrowly beat LetsBonk.fun’s 13,392.

  • Despite this, LetsBonk. still led in trading volume by generating $87.7 million compared to Pump.fun’s $82.4 million.

  • Pump.fun’s recent resurgence took place after the launch of its PUMP token, which raised $600 million in 12 minutes and is now undergoing a large-scale buyback.

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