Ndax Weekly TL;DR July 21

• US Congress Advances GENIUS and CLARITY Acts to Define Digital Asset Regulations
• Ripple CTO Issues Scam Alert Amid Fake XRP Airdrop After Price Hits All-Time High
• SEC Chair Atkins Eyes Innovation Exemption to Support Tokenization, Amid Mixed Reactions to GENIUS Act

The US House of Representatives has approved two major bills—the GENIUS Act and the CLARITY Act—to establish clearer federal oversight of digital assets. The GENIUS Act sets national standards for digital payment tokens backed by high-quality reserves and mandates strict consumer protections, transparent redemption processes, and clear asset segregation rules. The CLARITY Act, now heading to the Senate, aims to outline regulatory boundaries between the SEC and the CFTC for digital asset trading platforms, specifically addressing tokens that achieve sufficient decentralization. CryptoSlate

Ripple CTO David Schwartz has warned users about a new deepfake scam circulating online that falsely promotes a 100 million XRP airdrop, capitalizing on XRP’s recent price surge to an all-time high. The scam features an AI-generated video of Ripple CEO Brad Garlinghouse announcing a fictitious rewards program, exploiting the excitement following Ripple's legal victories against the SEC. Schwartz emphasized that Ripple never conducts token giveaways or requests personal information, urging users to remain vigilant as fraudulent activities spike amid rising market enthusiasm. Beincrypto

SEC Chair Paul Atkins is considering introducing an innovation exemption within U.S. regulations to encourage the tokenization of assets and foster the growth of blockchain technology. Atkins, known for his pro-crypto stance, believes tokenization is inevitable and could significantly enhance financial efficiency. His comments come as the U.S. House passed the GENIUS Act. While industry advocates celebrate the bill as a regulatory breakthrough, critics like Senator Elizabeth Warren argue it falls short on consumer protection measures. Atkins emphasized balancing innovation with transparency and proper guidelines. Cointelegraph

Ndax's news feature provides the latest news, stories, and trends to help you keep your hand on the pulse of crypto and blockchain.

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News Nuggets

• Bitcoin Developers Warn Quantum Threat Puts 25% of BTC at Risk, Propose Network Upgrade CryptoSlate
• Vitalik Buterin Advocates Minimalist Approach as Key to Layer-2 Blockchain Success Cointelegraph
  IMF Claims El Salvador Not Actively Buying Bitcoin, Only Shifting Existing Holdings CryptoSlate
• French Lawmakers Propose Bitcoin Mining to Monetize Excess Nuclear Energy, Eye $150M Annual Revenue CryptoSlate
• Former Rugby Player Sentenced to Prison for $900K Crypto Ponzi Scheme Cryptonews
• Bitcoin-Backed Mortgages Arrive in Australia Amid Growing Housing Crisis Cointelegraph
• Strategy Purchases 4,225 Bitcoin, Growing BTC Treasury to Nearly $73B CryptoSlate
• Bitcoin Creator Satoshi Nakamoto Becomes World's 11th Richest Person as BTC Hits $120K Cointelegraph

As of 07-21-2025 at 9:10 AM EDT

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has increased from CA$5.19 trillion to CA$5.39 trillion.
• Bitcoin's market dominance stands at 59.7%, while Ethereum's share is 11.7%. 
   

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$160K and CA$164K registering a 3% change over the past week and a market cap of CA$3.2 trillion. At Ndax, the weekly movers are CRV, which saw a 40% increase in the last seven days reaching a market cap of CA$1.8 billion, and ENA, which experienced a 40% rise with a market cap of CA$4.3 billion. (At time of writing)

Visit our new markets page offering real-time data for almost 17,000 cryptocurrencies. Track trends, monitor your favorite cryptocurrencies, and stay ahead of the market. 
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• July 24 – US Initial Jobless Claims Announcement   

This week's blog explores the recent listing of Ethena (ENA) on Ndax, highlighting its role in the evolving decentralized finance (DeFi) ecosystem. To learn more, click here.
 

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