The crypto industry saw another action-packed week filled with regulatory developments, institutional investment moves, and growing debate around digital identity systems. From Ethereum co-founder Vitalik Buterin’s concerns over identity verification to a billion-dollar securities filing by Bakkt and Robinhood’s latest product rollout for retail traders, the sector continues to evolve at a rapid pace.

Here’s a full recap of the most significant events shaping the cryptocurrency market this past week.

Vitalik Buterin Challenges Worldcoin’s Digital ID Vision

Ethereum’s Vitalik Buterin reignited debate over the future of digital identity, publishing a detailed post over the weekend questioning the design of Worldcoin’s identity system. The Sam Altman-backed project claims to have verified over 13 million “unique humans,” largely through its eye-scanning Orb devices that assign users a biometric-based ID.

Buterin acknowledged that decentralized identity systems can bring value, especially when built using privacy-preserving technologies like zero-knowledge proofs. However, he warned that some platforms, including Worldcoin, might threaten core crypto principles like user pseudonymity and personal freedom.

While Worldcoin promotes its system as a gateway to fairer global access to financial services, critics argue it could become a centralized identity layer for the internet—potentially exposing users to surveillance or misuse. Buterin’s post emphasized the need to design digital IDs that are both inclusive and resistant to abuse.

Ripple and SEC End Years-Long Legal Dispute

After years of courtroom battles, Ripple and the U.S. Securities and Exchange Commission (SEC) are officially wrapping up their high-profile lawsuit. Ripple CEO Brad Garlinghouse announced that the company is withdrawing its cross-appeal, signaling a decision to move forward rather than continue prolonged litigation.

The SEC is also expected to drop its appeal, bringing closure to a case that has shaped the legal conversation around digital assets in the U.S. since 2020. Garlinghouse commented on X (formerly Twitter), saying Ripple is “closing this chapter once and for all,” and shifting its full focus toward building what he calls the “Internet of Value.”

The conclusion of this case is being seen as a win by many in the crypto community, particularly those who viewed the lawsuit as a barrier to blockchain innovation in the United States.

Robinhood Targets Retail Traders with Micro Crypto Futures

Robinhood expanded its crypto product lineup on Friday by starting micro futures contracts for Bitcoin, XRP, and Solana. These new instruments allow retail traders to take smaller positions, making futures markets more accessible to users who might not have the capital to trade standard contracts.

The micro contracts are especially timely as retail interest in cryptocurrency derivatives is on the rise. Robinhood’s move positions it to better compete with platforms like Coinbase and Kraken, which have already started offering more complex trading tools.

Robinhood’s inclusion of XRP and Solana in the micro futures lineup signals growing mainstream confidence in these two digital assets, especially following Ripple’s legal win and Solana’s ongoing network growth.

Bakkt Eyes Bitcoin Expansion with $1 Billion Securities Offering

On Thursday, digital asset platform Bakkt Holdings filed an S-3 form with the SEC, revealed plans to raise up to $1 billion through a flexible securities shelf offering. This capital could potentially be used to bolster the company’s Bitcoin treasury strategy, among other strategic goals.

The filing includes a wide array of securities options, such as common stock, preferred shares, debt instruments, warrants, and bundled units. The flexibility of this registration allows Bakkt to act quickly when market conditions favor capital deployment.

As more publicly listed firms begin to treat Bitcoin like a strategic reserve asset, Bakkt’s move adds to the growing trend of corporations using treasury diversification as a way to hedge against inflation and fiat currency volatility.

Metaplanet Makes Another Major Bitcoin Acquisition

Japanese Bitcoin investment firm Metaplanet revealed another large BTC purchase this week, acquiring 1,234 Bitcoin at an average price of 15,617,281 yen per coin—roughly $108,129 based on current rates. The deal, worth nearly $132 million, marks one of the firm’s largest purchases to date.

This latest buy positions Metaplanet among the top institutional holders of Bitcoin globally, underscoring a broader shift in corporate strategy toward BTC as a reserve asset. The company has been steadily growing its holdings in recent months, reflecting increased demand for inflation-resistant, decentralized assets.

Metaplanet’s aggressive accumulation follows similar moves by companies like MicroStrategy and Semler Scientific, both of which have added Bitcoin to their balance sheets as part of long-term strategies.

Crypto Momentum Carries Into Second Half of 2025

As Q2 comes to a close, the digital asset landscape continues to show signs of maturity. From institutional adoption and regulatory clarity to rising retail engagement, crypto markets are entering the second half of 2025 with stronger foundations and broader participation.

Vitalik Buterin’s warnings about digital identity systems highlight the ongoing philosophical debates within crypto, even as investment firms and retail brokers double down on adoption.

With major court battles ending, product offerings expanding, and more governments and companies treating Bitcoin like digital gold, the coming months may continue this momentum—provided regulatory uncertainty stays in check and innovation remains user-focused.