It’s been a big week for crypto on the charts, in the courtroom, and in the halls of government.
Bitcoin smashed through the $122K barrier as the US heads into “Crypto Week,” where lawmakers will vote on key legislation that could reshape the industry.
Meanwhile, Hungary has taken a hardline stance by criminalizing unauthorized crypto trading, sending a strong message to platforms operating without licenses.
In Los Angeles, two sheriff’s deputies admitted to helping a jailed crypto mogul extort victims by using their law enforcement powers. And in the context of real-world assets, Solana is gaining serious ground; up 140% this year. Crystal have also just announced that we offer full support for Solana investigations and monitoring.
Here’s what you need to know.
Bitcoin hits $122K as major US crypto bills head to vote in ‘Crypto Week’
Bitcoin surged past $122,000 on Monday, setting a new all-time high as the US prepares for a pivotal legislative week dubbed “Crypto Week.”
Three major bills are up for vote:
- the Clarity Act (on crypto market regulation)
- the Genius Act (on stablecoin oversight),
- and the Anti-CBDC Surveillance State Act (banning a US central bank digital currency).
The rally is also being fueled by renewed investor optimism under crypto-friendly President Donald Trump, whose administration is widely seen as pro-digital assets.
The price movement triggered a broader market upswing, with Ethereum rising above $3,000 and crypto-related stocks like Coinbase and Strategy Inc. gaining in pre-market trading.
Why this matters:
This could be a defining moment for the US crypto industry. Clearer rules on stablecoins and digital assets — alongside political backing — could legitimize crypto markets, attract institutional capital, and trigger a new wave of adoption. But if these bills fail, volatility may return just as quickly.
Read more on Yahoo.
Hungary criminalizes unauthorized crypto trading and services
Hungary has introduced strict new penalties for using or operating unauthorized crypto exchanges, with individuals facing up to two years in prison for trades as low as $14,600. The updated Criminal Code, which took effect on July 1, 2025, ramps up penalties based on the value of transactions — up to eight years for the most serious offenses over $1.46 million.
Crypto service providers without proper authorization now face up to three years in prison, with longer sentences for higher-value activity. However, the law has caused confusion in the industry, as Hungary’s regulator has 60 days from July 1to establish compliance frameworks, and none currently exist.
The uncertainty prompted UK-based Revolut to temporarily suspend crypto services in Hungary. It has since reinstated withdrawals only, while working on licensing through its EU entity.
Why this matters:
Hungary’s move signals a growing global trend toward hardline enforcement against unlicensed crypto activity. But the lack of immediate regulatory guidance could leave businesses — and users — exposed. It’s a warning shot for crypto platforms operating in regulatory grey zones.
Read more on Cointelegraph.
LA deputies admit to helping crypto ‘Godfather’ extort victims
Two Los Angeles County Sheriff’s Department deputies pled guilty to misusing their police authority while moonlighting as private security operatives— including for a crypto entrepreneur later convicted of extortion. Deputies David Rodriguez and Christopher Cadman admitted to filing false warrants, accessing police data, and helping intimidate individuals on behalf of clients.
One of those clients was Adam Iza — also known as Ahmed Faiq and nicknamed “The Godfather” — who ran the crypto platform Zort. Iza pleaded guilty to wire fraud and conspiracy in January 2025, after using information obtained by off-duty deputies to extort victims, including one incident where a man was held at gunpoint and coerced into transferring $25,000. Iza paid the deputies up to $280,000 a month and referred to them as his “pawns,” according to FBI documents.
Cadman and Rodriguez weren’t the only deputies involved, and the scheme extended beyond Iza’s case. One deputy used a false warrant to obtain a victim’s phone location under the guise of a robbery investigation — then passed it to another client. Iza’s ex-girlfriend also pleaded guilty to laundering his criminal proceeds through shell companies.
Why this matters:
This case exposes how crypto-fueled corruption can bleed into real-world institutions. When law enforcement officers are hired muscle for private clients — including criminals — it’s not just a crypto problem, but a systemic one. Trust in justice and public safety is on the line.
Read more on Cointelegraph.
Solana surges in real-world asset race as tokenized value jumps 140%
Solana is quickly closing the gap in the real-world asset (RWA) tokenization space, with a 140% year-to-date growth that outpaces the broader market. According to Messari, Solana now hosts over $418 million in tokenized assets—ranging from US treasuries to institutional funds—making it the fourth-largest blockchain in the RWA space behind Ethereum, ZKSync Era, and Aptos.
Driven by high throughput, low costs, and a thriving developer ecosystem, Solana has become a serious contender in bringing traditional financial assets onchain. Top protocols like Ondo and ONe are fueling this growth, with increasing trading volumes and fee revenue returning to the network.
As institutional interest in RWAs rises, competition among blockchains is heating up. Ethereum still dominates with over half the market share, but Solana’s momentum is hard to ignore.
Why this matters:
The RWA tokenization market is booming—and Solana is emerging as a major player. With Crystal now offering full support for Solana, users can monitor and trace Solana transactions with the same powerful tools they use for Bitcoin and Ethereum. Whether you’re tracking transfers, analyzing wallets, or investigating on-chain activity, Crystal makes it simple to stay ahead.
Read more on Cointelegraph.
