Upcoming Important Events in the Encryption Industry for the Next Week

July 14

The U.S. House of Representatives deliberated on multiple encryption bills.

The U.S. House Financial Services Committee has announced this week as "Crypto Week", during which it will review multiple cryptocurrency-related bills, including the "CLARITY Act", the "Anti-CBDC Surveillance State Act", and the "GENIUS Act". A White House digital asset policy advisor stated that this will help solidify the U.S. position as a global cryptocurrency hub.

The criminal trial of Tornado Cash developers begins

The criminal trial of Tornado Cash co-founder Roman Storm is expected to begin in the Southern District Court of New York. Storm's legal team plans to defend against allegations of illegal profits made during his time at Tornado Cash. It is currently unclear whether Storm will personally testify regarding charges of money laundering, operating an unlicensed money transmitting business, and violating U.S. sanctions.

OpenZK Network Launch OZK Staking

OpenZK Network has announced the launch of the OZK token staking feature, allowing users to earn network rewards. The project also plans to explore a dual-token Gas fee model, where users may be able to pay network fees using either ETH or OZK in the future.

July 15-16

Sunrise airdrop collection deadline

The $RISE airdrop event for the dedicated DA layer protocol Sunrise will end on the 15th. Eligible users include specific token stakers, testnet participants, and NFT holders, among others. The tokens received will be transferable and tradable after the mainnet launch in the third quarter of 2025.

The U.S. House of Representatives discusses digital asset tax policies

The U.S. House of Representatives Fundraising Committee will hold a hearing on the 16th to discuss the establishment of a tax policy framework for digital assets. Currently, there is uncertainty regarding cryptocurrency taxation in the U.S., making it complicated for investors to calculate. The new proposal suggests tax exemptions for small transactions and the elimination of double taxation, among others.

multiple project token unlock

Between the 15th and 16th, multiple projects such as Sei, Starknet, and Arbitrum will have token unlocks, with the unlock amount accounting for between 1% and 3.5% of the current circulation, totaling over 70 million dollars.

July 17-18

Plasma XPL public sale begins

The public sale of the XPL token for the stablecoin project Plasma will officially start on the 17th. The platform will lock the deposit and withdrawal functions on the 14th, and all deposits will be locked for at least 40 days after the sale ends.

large-scale unlocking of multiple tokens

Between the 17th and 18th, multiple projects including UXLINK, Solv Protocol, ApeCoin, ZKSync, Official Trump, and Cloud will have token unlocks. Among them, Official Trump has the largest unlock amount, approximately 90 million tokens, accounting for 45% of the current circulation, valued at about 878 million dollars.

Pending Issues

DWF Labs promises to disclose details of USDf reserves.

DWF Labs CEO promised to reveal the details of the $630 million encryption asset portfolio supporting the stablecoin USDf. USDf maintains its peg using encryption assets and trading profits, but currently, 96% of the assets are held with off-chain custodians. 89% of the reserves are in stablecoins and Bitcoin, while 11% are in other encryption currencies, with all assets hedged against risk through perpetual contracts.