Many major events took place at Crypto this week. A big beautiful bill was passed, prompting another division between Elon Musk and President Trump. Robinhood has announced tokenized inventory and other ambitious targets.
The first Solana Staking ETF began trading in the US market, but the SEC delayed Grayscale's Altcoin basket products. All these stories and more are available on Beincrypto.
Trump signs a big beautiful bill to the law
This week, key regulations that have a big, beautiful Trump bill through it through the Senate and House of Representatives have a major impact on the code. Many encryption and AI-specific provisions could not withstand the final version, but this bill still holds great significance.
Today, July 4th, Trump ultimately signed a $3.3 trillion bill.
Of the many issues covered by the big beautiful bill, large tax cuts seem most prominent for the crypto ecosystem. These cuts not only encourage domestic crypto investments, but could weaken the dollar significantly.
By increasing deficits and fiscal instability, the bill may encourage use of Bitcoin as a valuable repository.
Trump and Musk Fallout Again
Of course, the Crypto community is far from United with its big, beautiful bill. This week, Elon Musk warned his supporters of its major potential shortcomings and sent shockwaves through the Crypto market.
Musk is very concerned about the US deficit, as evidenced by his time at the Kudji, and he repeatedly warned that the bill could lead to a recession.
Over the past few days, Musk has vowed to create a new political party if a big beautiful bill passes. This could represent a more permanent political divorce from Trump, which could have an impact on the memecoin market in particular.
So far, Musk has still run social media polls on this third party, and his plans may not have actually come to fruition.
Solana Staking ETFs open trading
Amidst bright code news, the first US Solana Staking ETF began trading earlier this week. The SEC gave a positive signal on potential approval a few days ago, and the product is currently being published on a regulated exchange.
This represents a major breakthrough for the crypto ETF sector.
Unfortunately, the Crypto ETF subsector also received some bad news this week. The SEC has ostensibly approved Grayscale's new basket ETF, which includes several major altcoins, but soon began another delay.
The final period for the committee to approve such a product was July 2nd, but this unorthodox strategy may have given it a little more time.
It is unclear why the SEC decided to take this position. We are also working on streamlined ETF application processes, which could help explain the situation. There have already been dozens of positive proposals, and no one knows how it will interact with this new mechanism.
Robinhood launches tokenized inventory
This week, Robinhood announced its long-term plans for expansion in the crypto industry. Although the company has been exploring the market for over a year, its recent presentation at ETHCC 2025 details its highly ambitious goals.
Robinhood plans to tokenize more than 200 stocks and ETFs for the US and European markets, and turn the Crypto app into an all-in-one investment platform.
The company has also announced several other goals, including its own Layer 2 blockchain, permanent futures contracts for EU users, and token staking in the US market.
If achieved, these milestones could help solidify Robin Hood's height as a key figure in the crypto industry.
“Solana's MicroStrategy” is acquired
In the final article in Crypto News this week, Defi Development announced a $100 million share sale to fund the Solana acquisition.
While a huge number of companies have bought Bitcoin and raised concerns about the bubble, Defi Development is the only company attempting a Sol Treasury plan. The stock crashed when it announced the sale, but recovered throughout the week.
Performance at Defi development prices. Source: Google Finance
Regardless of what happens, Defi Development companies generate valuable information about the appetite of the market. As micro-strategic corporate financial planning takes over the entire Bitcoin sector, Altcoin's acquisition efforts may shake everything.
These stories are just a few of the major events that took place at Crypto this week. As always, Beincrypto is ready to continue to inform you about all market developments.
