Gemini, Coinbase Near EU Crypto Licenses as Solana ETF Gains SEC Momentum

Solana ETF Hopefuls Submit Updated Filings, Signaling Potential SEC Approval Within Months

Investment firms including Franklin Templeton, Galaxy Digital, VanEck, and Fidelity submitted updated S-1 filings on Friday for proposed spot Solana ETFs. This wave of filings follows an SEC request for issuers to revise language around in-kind redemptions and staking. Analysts say the move signals the SEC may be warming up to approving Solana ETFs, with a possible launch timeline of two to four months. VanEck’s revised filing now includes staking, aligning with broader lobbying efforts for staking-enabled ETFs. While the SEC has approved Bitcoin and Ethereum ETFs, it has been more cautious with alternative token products, though CME’s listing of SOL futures may bolster Solana’s case.

Ethereum Foundation Donates $500K to Tornado Cash Co-Founder’s Legal Defense, Pledges $750K Match Ahead of Trial

The Ethereum Foundation has donated $500,000 to support Tornado Cash co-founder Roman Storm’s legal defense, with a pledge to match up to an additional $750,000 in community donations. Storm faces trial on July 14 in New York over charges including money laundering and sanctions violations. Prosecutors dropped one charge related to operating an unlicensed money transmitting business but are moving forward with others. Storm, who is raising $2 million for his defense, argues the charges violate his First Amendment rights. The Foundation emphasized that “privacy is normal” and “writing code is not a crime.”

GameStop Raises $2.25B in Convertible Notes Amid Stock Drop, Eyes Bitcoin and Trading Cards for Future Growth

GameStop increased its latest convertible bond offering to $2.25 billion from $1.75 billion, just weeks after raising $1.5 billion in April. The new zero-interest notes convert at $28.91 per share—a 32.5% premium over recent trading levels—but shares still fell 24% over the week, closing at $22.14. While GameStop recently bought 4,710 Bitcoin, CEO Ryan Cohen says future purchases won’t be pre-announced. The company plans to use the proceeds for general investments and acquisitions aligned with its policy. GameStop, which shut down its NFT marketplace earlier this year, is now focusing on trading cards, which accounted for 29% of Q1 sales.

Gemini and Coinbase Near EU-Wide Crypto Licences as Regulators Clash Over MiCA Enforcement

Gemini and Coinbase are close to securing licences under the EU’s new Markets in Crypto-Assets (MiCA) regulation, which would allow them to operate across all 27 member states. Malta, which has already approved OKX and Crypto.com, is granting licences quickly—drawing scrutiny from other regulators and concerns over inconsistent enforcement. France’s AMF warned of a “regulatory race to the bottom,” while ESMA is preparing a report on Malta’s process. Coinbase’s expected approval in Luxembourg has stirred tension with Ireland, where regulators have taken a harder line.

Resources:

Business Wire

Reuters