Crypto Market Dynamics

Today's News

• Vitalik warns that Ethereum must achieve true decentralization, or it will face a survival crisis.
• Arthur Hayes predicts that BTC may pull back to the range of $90,000 to $95,000 in the short term.
• Ripple's subsidiary applies for a Federal Reserve master account, planning to provide more encryption services.
• PayPal co-founder and other tech billionaires plan to establish Erebor Bank to serve crypto and AI startups.
• The Jupiter token launch platform Jupiter Studio is officially online.
• OpenAI denies authorizing Robinhood to launch related tokenized stocks

Regulation and Macroeconomics

• The U.S. House of Representatives will hold the final vote on the "Big and Beautiful Act".
• The U.S. Department of Justice has cracked a $14.6 billion healthcare fraud case, seizing $245 million in encryption and other assets.
• The US Treasury Secretary expects the Federal Reserve may cut interest rates in September or earlier.
• The number of ADP employment in the U.S. decreased by 33,000 in June, marking the largest decline since March 2023.
• The Hungarian central bank rules out the possibility of including any encryption assets in its international reserves.
• The International Monetary Fund vetoed Pakistan's Bitcoin mining subsidized electricity plan.

Project Updates

• Swiss bank AMINA supports the custody and trading of Ripple stablecoin RLUSD
• Duodianshu intelligent stock price surged, has allocated BTC and plans to apply for a Hong Kong stablecoin license.
• KBC Bank of Belgium plans to launch Bitcoin and Ethereum trading services for retail customers.
• REX-OSPREY Solana Staking ETF's first day trading volume reached 33 million USD
• Bitcoin Layer 2 network BOB has launched its testnet ahead of schedule, with the mainnet set to go live in Q4.
• Coinbase acquires the token management platform Liquifi
• Italian banking group Banca Sell will test custody services for stablecoins and other digital assets.

Institutional Dynamics

• C2 Blockchain plans to acquire 20% equity in McAllen's digital infrastructure and increase its holdings in DOG tokens.
• DeFi Development Corp disclosed a $112.5 million private placement transaction to fund the purchase of SOL.
• Public company Addentax signs a $1.3 billion term sheet, planning to purchase 12,000 Bitcoins
• Mogo announced that its board has authorized the allocation of $50 million to Bitcoin.

Market Insights

• Arthur Hayes predicts that BTC may pull back to the range of $90,000 to $95,000 in the short term.
• 10x Research: Bitcoin is attempting to break through the key level of $110,000
• The encryption business added $620 million to Trump's wealth
• Binance announced the June performance data of the Alpha airdrop, with LA, AB, and SAHARA being the top three airdrop earners.
• This year, 56 tokens supported by VC have been listed, and 3 tokens have an FDV exceeding 1 billion USD.

Trends Worth Noticing

• North Korean hackers spread macOS malware targeting crypto companies using fake Zoom update programs.
• Jump Crypto associates with a giant whale wallet that has transferred 7,499 BTC after being dormant for two years.
• A wallet suspected to be associated with Matrixport has withdrawn over 30,000 ETH within the last 24 hours.
• The MELANIA team unlocked 25 million tokens, worth approximately 5.25 million dollars.
• Circle has minted 250 million USDC on Solana.