US District Judge Paul Byron issued an order partially certifying a class of purchasers of the meme-inspired LGBCoin in a suit alleging the price of the tokens dropped after its plan to sponsor a NASCAR driver fell apart. Judge Byron certified a class of buyers solely related to their claims of the sale of unregistered securities but not of their claims of unjust enrichment, finding the plaintiffs failed to establish or provide a proper argument for predominance for the unjust enrichment claims.

New York Attorney General Letitia James and Galaxy Digital agreed to a $200 million settlement over allegations the company failed to disclose its sales of the Terraform token LUNA while it widely promoted the asset prior to its collapse. Galaxy neither admitted nor denied the allegations but agreed to pay $200 million in disgorgement over a three-year period and institute procedures around promotions of digital assets.

President Trump pardoned the business entity behind crypto exchange BitMEX and four of its former executives years after they copped to Bank Secrecy Act violations and lax AML controls. According to the company, Trump has issued "full and unconditional pardons" for HDR Global Trading Limited, which owns and operates BitMEX, as well as co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed, and former executive Gregory Dwyer.   

US District Judge W. Scott Hardy ruled that Aaron Tilton, CEO of crypto company SmartFi, must face a suit accusing him and the company of refusing to fulfill their “buyback guarantee” of SmartFi tokens, finding that the plaintiffs sufficiently alleged that the CEO promised SmartFi would refund investors. According to the complaint filed by SmartFi investors in May, Tilton promised that if SmartFi's tokens were purchased with US dollars or stablecoins and held for 12 months, they could be returned by investors for a full refund. However, the plaintiffs alleged their refund requests were ignored or refused.

US District Judge James Donato tossed a shareholder suit against crypto firm Dfinity, siding with the firm’s argument that claims it sold unregistered securities were too dated to proceed. Judge Donato issued an order stating that the lead plaintiff's claims are time-barred under the Securities Exchange Act of 1934's three-year statute of repose. Dfinity argued that it first offered its ICP tokens to the public in early 2017, outside the three-year period since plaintiffs did not file suit until August 2021.

The Trump family’s crypto venture, World Liberty Financial, announced that it will launch a stablecoin, USD1. The stablecoin will be "backed by short-term US government treasuries, US dollar deposits, and other cash equivalents," according to an announcement posted by the company. Sen. Elizabeth Warren (D-MA) issued a statement calling the announcement President Trump’s “latest grift with major consequences for the stability of our financial system.” She added that the GENIUS Act, as it is currently written, "would pave the way for Donald Trump and Elon Musk to print their own stablecoins with little oversight."

Trump Media announced plans to partner with Crypto.com to launch a series of exchange-traded funds (ETFs). Trump Media said in a press release that the ETFs "are expected to comprise digital assets as well as securities with a Made in America focus spanning diverse industries such as energy." The products are expected to launch later this year and be available in the US, Europe, and Asia across existing platforms and brokerages. President Trump is the largest shareholder of Trump Media, holding a $2.4 billion stake.

Bitnomial dropped its suit alleging that the SEC blocked the crypto platform from listing futures contracts for Ripple’s XRP token after Ripple announced that the SEC is no longer pursuing securities claims against the token. Bitnomial filed a notice to voluntarily dismiss its SEC challenge without prejudice alongside a public announcement that it was dropping the case and launching "the first-ever CFTC-regulated XRP futures in the US."

Crypto and fintech companies are increasingly seeking bank charters in an attempt to grow their businesses under the Trump Administration, according to a report from Reuters. Reuters spoke to more than half a dozen industry executives, with the move coming as the Trump Administration is seen as more industry-friendly, creating more opportunities to gain licenses that regulators under previous administrations may have been slow to approve.