Today's News Tips
U.S. House of Representatives votes to pass "Big and Beautiful" bill
Yesterday, Bitcoin spot ETFs had a net inflow of $602 million, and Ethereum spot ETFs had a net inflow of $149 million
Regulation & Macro
According to Jinshi, the number of non-farm payrolls in the United States unexpectedly increased by 147,000 in June, which was not only higher than the 144,000 new jobs in May, but also significantly exceeded the 110,000 generally predicted by economists, showing that the US labor market has successfully withstood the uncertainty brought about by the Trump administration's trade and immigration policies. This unexpectedly strong data will reduce the pressure on the Federal Reserve to cut interest rates, despite Trump's repeated public calls for the bank to take action to cut interest rates. Federal Reserve Chairman Powell said this week that a rate cut in July is "still under consideration", which seems to have reversed his previous position of "keeping interest rates unchanged until the fall."
Earlier news said that the US unemployment rate was 4.1% in June, in line with expectations of 4.3% .
Trump: Will start sending out letters about tariffs from Friday
According to Sina News, US President Trump said that he will start sending letters about tariffs from Friday. It is expected that 10 to 12 countries will receive relevant notifications on Friday. It is planned to impose tariffs ranging from 60% to 70% and from 10% to 20% on different countries. Countries will start paying these tariffs on August 1.
Earlier news: The President of the European Commission is ready to reach an agreement with the United States on tariffs ; the US Treasury Secretary warned that tariffs may rise back to the level of April 2 .
U.S. House of Representatives votes to pass "Big and Beautiful" bill
According to Xinhua News Agency, the U.S. House of Representatives passed the "Big and Beautiful" tax and spending bill promoted by President Trump with 218 votes in favor and 214 votes against on the afternoon of the 3rd. The bill has been controversial because it has caused cuts in federal aid, increased long-term debt, and tax cuts for the rich and large companies. Two Republican congressmen voted against the bill that day. The bill was passed by the Senate on the 1st of this month. The White House said on the 3rd that Trump is scheduled to sign the bill on the 4th, the U.S. "Independence Day", to make it effective.
U.S. Senator Cynthia Lummis announced her comprehensive digital asset tax legislation, which she is seeking to submit to the president and welcomes public comments on the bill. The bill focuses on several key issues: for small transactions, a $300 minimum rule (with an annual cap of $5,000) is set, adjusted for inflation starting in 2026, taking into account both taxation and transaction convenience; in terms of digital asset lending, securities lending rules are expanded to prevent temporary lending from immediately generating tax consequences, helping the market to develop healthily; revised provisions fill loopholes in false trading losses and ensure fair taxation of digital assets and traditional securities; allowing dealers to price at market prices to eliminate asset type discrimination; delaying the recognition of mining and staking income until asset disposal to ease taxpayers' financial pressure; in the field of charitable donations, actively traded digital assets are exempted from assessment to reduce the difficulty of donations. According to the Congressional Joint Committee on Taxation, the bill will generate approximately $600 million in net fiscal revenue between 2025 and 2034.
Four departments organize the recommendation of typical cases of Metaverse in 2025
According to Cailianshe, the General Office of the Ministry of Industry and Information Technology, the General Office of the Ministry of Education, the General Office of the Ministry of Culture and Tourism, and the General Office of the State Administration of Radio, Film and Television issued a notice on organizing the recommendation of typical cases of the Metaverse in 2025. The recommendation scope includes: typical digital human cases of the Metaverse, typical product cases of the Metaverse, typical park cases of the Metaverse, and typical standard cases of the Metaverse.
Bank of England Governor warns: Stablecoins threaten public trust in money
Andrew Bailey, governor of the Bank of England, warned that the rise of stablecoins could undermine public trust in money as experts warn of the threat posed by the mass adoption of dollar-backed cryptocurrencies, according to Bloomberg. In a speech published Thursday, Bailey said central banks need to "keep a close eye" on innovations in the payment sector to prevent them from introducing new vulnerabilities into the monetary system.
Project News
SlowMist Cosine tweeted a reminder that users should pay attention to the fact that the private key corresponding to the Sui address cannot derive the same address of the Aptos address when transferring money, and the two cannot be converted to each other. "For example, if you have Aptos and accidentally transfer money to your Sui address, then the funds are gone. We studied it and found that we can't get it back." "In other words, the same mnemonic, derived according to the logic of Aptos Sui, has different addresses. But when transferring money, it will be considered a legal address... starting with 0x, a total of 66 characters..."
According to the official announcement, Binance is the first platform to launch CROSS (CROSS), and trading will start at 16:00 (UTC+8) on July 4. Eligible Binance users can use Binance Alpha Points to claim 500 CROSS tokens airdrop on the Alpha event page within 24 hours after trading starts. Binance Alpha airdrops will adopt a first-come, first-served model: users with at least 140 Alpha points can participate in the airdrop, first come, first served, until the airdrop pool is full or the event ends. Claiming the airdrop will consume 15 Binance Alpha points. Users must confirm their claim on the Alpha event page within 24 hours, otherwise they will be deemed to have given up the airdrop.
Binance Futures to Launch BULLAUSDT and IDOLUSDT U-margined Perpetual Contracts
According to the official announcement, Binance Futures will launch BULLAUSDT and IDOLUSDT U-margin perpetual contracts. The specific time is: July 4, 17:00 (GMT+8): BULLAUSDT perpetual contract, the maximum leverage can reach 50 times July 4, 17:15 (GMT+8): IDOLUSDT perpetual contract, the maximum leverage can reach 50 times.
Binance launches BNSOL Super Staking Eleventh Project PIXEL (PIXEL)
According to the official announcement, Binance BNSOL Super Staking will launch the eleventh project PIXEL (PIXEL). From 8:00 on July 7 to 7:59 on August 8 (Eastern Time): users who hold BNSOL in their Binance accounts or stake SOL to BNSOL; users who hold BNSOL, sBNSOL or bzSOL assets in their Binance wallets will receive PIXEL APR Boost airdrop rewards.
Sunil, a representative of FTX creditors, tweeted that FTX has applied for court approval to implement a new "restricted processing procedure" in 49 restricted jurisdictions (including China). FTX will seek legal advice. If it is possible to distribute to potential restricted jurisdictions, compensation will be paid normally. Otherwise, a restricted processing procedure will be initiated and creditors will lose their distribution rights. These restricted jurisdictions account for about 5% of the total claims, of which China's claims account for 82% of the value.
According to Coindesk, Ondo Finance is working with Pantera Capital to launch a $250 million "Catalyst" investment program to invest in physical asset tokenization projects, and the funds will focus on equity investment and token investment. According to data from RWA.xyz, Ondo is one of the largest issuers of tokenized U.S. Treasury bonds, with a total market value of nearly $1.4 billion for its OUSG and USDY tokens. The company is also developing a Layer-1 blockchain network designed specifically for tokenized RWA.
Coinbase: System upgrade time adjusted to 22:00 on August 2
Coinbase tweeted that the system upgrade time has been adjusted to 22:00 (UTC+8) on August 2, 2025, and is expected to last for 3 hours. During the upgrade, Simple and Advanced Trade, deposit and withdrawal functions, inter-platform transfers, and Coinbase Card will be suspended, and transfers may be delayed. According to previous news, Coinbase will carry out a system upgrade of about 3 hours on July 19, during which some services will be affected.
ZachXBT: WhiteRock founder arrested for alleged involvement in Zkasino exit scam
According to a message shared by crypto detective ZachXBT, WhiteRock founder Ildar Ilham (aka @XBT_Prometheus) was arrested by UAE law enforcement for his alleged involvement in the $30 million Zkasino exit scam. Next, he will be extradited to the Netherlands for the criminal case. Earlier in June, ZachXBT disclosed that the WhiteRock Finance (WHITE) project had multiple risks.
Binance Launches Institutional Lending
According to the official announcement, Binance launched institutional lending for corporate users (KYB) with VIP 5 trading volume and above. This new feature can provide up to 4 times leverage and support collateral aggregation across multiple sub-accounts and asset accounts. This feature breaks the single account limitation of leveraged collateral and further improves funding efficiency and flexibility. The credit line obtained by institutional lending can be traded in Binance leverage and contract markets through full-position leverage accounts, unified accounts and/or unified accounts Pro.
Binance Alpha Airdrop New Feature “Risk Pre-check” Launched
According to the official announcement, Binance Alpha's new airdrop feature "Risk Pre-check" is now available. Users who meet the points requirements can enter the claim page 15 minutes before the first-come-first-served airdrop to conduct a risk pre-check in advance. After passing the pre-check, you can participate in the airdrop without facial verification when the airdrop begins.
Binance Payments Expands Transfer Options to Simplify Crypto Transfers
According to the official announcement, Binance Payment has launched two important upgrades to make cryptocurrency transfers simpler, faster and safer. The contact transfer and on-chain transfer launched provide new cryptocurrency transfer solutions to meet the needs and preferences of different users. Binance Payment Contact Transfer: Quickly transfer cryptocurrency to mobile contacts without entering wallet address, email or Binance ID. More than 300 cryptocurrencies to choose from, free of gas fees. Binance Payment On-chain Transfer: Simply scan the QR code or take a photo of the wallet address to easily transfer cryptocurrency on the chain. No manual input or tedious network operations are required.
Robinhood CEO: OpenAI and SpaceX’s “stock tokens” are derivatives, not equity
According to The Block, Robinhood CEO Vlad Tenev responded to OpenAI's questions, emphasizing that the OpenAI and SpaceX "stock tokens" launched for European users are not real equity, but blockchain-based derivative contracts. These tokens are issued on the Arbitrum chain and track the stock price of the underlying company, but investors do not enjoy shareholder rights. OpenAI previously stated that it has not authorized any tokenized stock products, reminding investors to carefully check official documents.
SlowMist: GitHub's popular Solana tool hides a trap for stealing coins
According to the SlowMist security team, on July 2, a victim said that he had used an open source project hosted on GitHub the day before - zldp2002/solana-pumpfun-bot, and then his encrypted assets were stolen. According to SlowMist analysis, in this attack, the attacker disguised himself as a legitimate open source project (solana-pumpfun-bot) to induce users to download and run malicious code. Under the cover of boosting the popularity of the project, the user ran the Node.js project with malicious dependencies without any defense, resulting in the leakage of wallet private keys and theft of assets. The entire attack chain involves multiple GitHub accounts operating in coordination, which expands the scope of dissemination, enhances credibility, and is extremely deceptive. At the same time, this type of attack uses social engineering and technical means, and it is difficult to fully defend against it within the organization. SlowMist recommends that developers and users be highly vigilant against GitHub projects of unknown origin, especially when it comes to wallet or private key operations. If you really need to run and debug, it is recommended to run and debug in an independent machine environment without sensitive data.
According to the official blog, Binance has appointed Gillian Lynch as its head of European and UK operations. Lynch will lead the company's strategic expansion and regulatory cooperation in major European markets. Lynch has more than 20 years of leadership experience in fintech, banking and digital assets, and has held senior positions at Gemini, Bank of Ireland and Leveris.
Financing News
According to EU-Startups, Impossible Cloud Network (ICN), a data sovereignty Web3 cloud platform headquartered in Zug, Switzerland, has completed a financing of 28.8 million euros (about 33.91 million US dollars), bringing its post-investment valuation to more than 398 million euros. This oversubscribed financing combines new capital and previously undisclosed investments, including early investments from 1kx, Protocol Labs, No Limit Holdings and HV Capital. The latest round of strategic financing was led by NGP Capital. ICN's native token $ICNT is also officially launched. Earlier news, Binance Alpha and Binance Contracts will launch Impossible Cloud Network (ICNT).
Amber International raises $25.5 million to bolster its cryptocurrency reserve program
According to Coindesk, Amber Group subsidiary Amber International Holding (AMBR) said it had raised $25.5 million through private placement. The proceeds from the private placement will be strategically used to enhance Amber International's $100 million cryptocurrency reserve program, which is designed to support long-term ecosystem integration and product innovation. Since the announcement of the strategy earlier this year, the reserve has been allocated to major digital assets such as BTC, ETH and SOL, and is continuing to be allocated to BNB, XRP and SUI. The offering price for this additional offering is $10.45 per share, a 5% discount to the company's three-day volume-weighted average trading price, and attracted investors such as Pantera Capital, CMAG Funds, and Kingkey Financial International to participate. The private placement issued 12,200,915 Class A common shares, equivalent to 2,440,183 American Depositary Receipts (ADS).
According to The block, Distinct Possibility Studios, a game studio founded by John Smedley, co-creator of EverQuest, has completed a $30.5 million financing round, led by Bitkraft Ventures and Brevan Howard Digital, with participation from Tezos Foundation, Hashed, Delphi Ventures, Shima Capital, North Island Ventures and Decasonic. The funds will be used to develop and release the AAA shooting game "Reaper Actual", which is planned to be launched on Steam and Epic Games Store. Distinct Possibility Studios also stated that it has selected Etherlink, an EVM-compatible Layer 2 network built on Tezos, as the blockchain for building "Reaper Actual".
The Open Platform Completes $28.5 Million Series A Funding, Led by Ribbit Capital
According to Fortune magazine, Telegram's ecological development platform The Open Platform announced the completion of a $28.5 million Series A financing, with a post-investment valuation of $1 billion. This round was led by financial technology investment institution Ribbit Capital, and crypto venture capital Pantera Capital participated. This financing transferred about 5% of the equity, and did not include cryptocurrency shares. The Open Platform has raised more than $70 million in total. TOP is the core developer of Telegram's official blockchain The Open Network (TON), and its "Telegram Wallet" has been opened to users in Russia, Asia and other regions. The company's CEO said that the new funds will be used to expand the European and American compliance markets and incubate blockchain games and AI applications based on TON.
Institutional holdings
DeFi Development acquires 17,760 SOL for $2.72 million to expand its holdings and staking strategies
According to Coindesk, DeFi Development Corp. (NASDAQ: DFDV) acquired 17,760 SOL for $2.72 million, bringing its total holdings to approximately 640,585 SOL and related equivalent assets, with a total value of approximately $98.1 million. Based on the company's latest reported total number of 14,740,779 shares outstanding, the current SOL per share (SPS) is 0.042, which is approximately $6.65 per share based on the price data of the day. DeFi Dev Corp has positioned itself as the first public company to put Solana at the core of its financial strategy. In addition to accumulating and staking SOL, the company is also actively involved in DeFi opportunities and ecosystems. The company's funding strategy provides shareholders with direct economic exposure while supporting Solana's application layer development.
According to Globenewswire, Nano Labs Ltd (NASDAQ: NA) announced that it purchased 74,315 BNBs through OTC, with an average price of approximately $672.45 and a total transaction volume of approximately $50 million. After the completion of this transaction, the company's cumulative reserves of mainstream digital currencies including Bitcoin and BNB have reached approximately $160 million.
Viewpoint
According to Bitcoin Magazine, Bo Hines, executive director of President Trump’s Digital Asset Advisory Committee, said that the size of the crypto industry could reach “$15 trillion to $20 trillion” after stablecoin legislation takes effect.
According to Cailianshe, European Commission President von der Leyen said that we are ready to reach an agreement with the United States on tariffs, and if we cannot reach an agreement, all means are under consideration.
According to The Block, Franklin Templeton Digital Assets analysts issued a report warning that the future of corporate crypto financial strategies is full of uncertainty and depends on several key factors. Although the model can create upside through premium financing, asset appreciation and pledge income, the negative feedback loop may trigger a "particularly dangerous" downward spiral. The report pointed out that 135 listed companies have adopted Bitcoin financial strategies to finance the holding of crypto assets through instruments such as equity and convertible bonds. This model relies on the volatility of crypto assets to increase the option value of financial instruments such as convertible bonds, and a positive cycle can be formed when prices rise. However, analysts warned that if the price-to-book ratio falls below 1, equity financing will turn into a dilution effect, and companies may be forced to sell assets to protect the market, which will in turn exacerbate the vicious cycle of falling currency prices and collapsing investor confidence. The report emphasizes that maintaining a premium price-to-book ratio, continuous value-added transactions and the ability to cope with market fluctuations will be the key to the long-term survival of such companies. Analysts believe that although the current risks are more complex than those of Terra or Three Arrows Capital, they may still trigger a catastrophic chain reaction if they encounter a major retracement or a long-term bear market.
Important data
According to The Block, the latest report from Finery Markets shows that stablecoins accounted for 74.6% of institutional OTC trading volume in the first half of 2025, up from 46% in the same period last year and 23% in 2023. Among them, USDC performed particularly well, with trading volume increasing 29 times year-on-year under the EU MiCA regulations. The report is based on the analysis of 4.1 million transaction data from January to June on the platform. Institutional trading showed three major trends: overall OTC spot trading volume increased by 112.6% year-on-year, stablecoin trading volume increased by 154%, and the liquidity of cryptocurrency and stablecoin trading pairs surged by 277.4%, far exceeding the 48.5% growth rate of fiat currency trading pairs. In addition to mainstream assets, altcoins such as Cardano and Solana account for a total of 16.7% of the market share. Analysts said this made stablecoins the fastest growing sector in the cryptocurrency market.
According to Yahoo Finance, 10x Research data shows that over the past year, Bitcoin holders (or "whales") have sold more than 500,000 Bitcoins, worth more than $50 billion at current prices. This is roughly equivalent to the net inflows into these funds since the approval of US ETFs. Although "whales" have reduced their holdings, ETFs, fund management companies and other institutions have absorbed nearly 900,000 Bitcoins in total over the past year. These institutions currently hold about 4.8 million Bitcoins, while the total number of Bitcoins in circulation is about 20 million.
A wallet suspected to be associated with Matrixport withdrew another 10,000 ETH from Binance
Abraxas Capital Withdraws $126 Million Worth of ETH from CEX in the Last 24 Hours
A newly created wallet withdrew $12.1 million worth of SAHARA from Binance
James Fickel deposited 80,000 ETH worth over $200 million to Coinbase Prime in nearly 20 minutes
The Ethereum Foundation development team transferred another 1,000 ETH internally
