● Bitcoin hits a new all-time high
According to Binance market data, in the early hours of July 10, Bitcoin surged to $112,036.8, breaking the previous high set on May 22.
● JPMorgan: Trump's new tariffs will raise the average tax rate in the U.S. to 14.6%
According to Deep Tide TechFlow, JPMorgan economists Michael Feroli and Abel Reinhart released a new research report estimating that following the tariffs announced by Trump this week, which will take effect on August 1 against 14 countries, the average tariff rate in the U.S. will rise from the previous 13.4% to 14.6%.
According to independent analysis from Deutsche Bank, the new average tariff rate could exceed 18%. Furthermore, JPMorgan also noted that if Trump continues to push for other potential trade measures, such as reinstating the reciprocal tariffs proposed in April against other countries, adding tariffs on copper products, or imposing tariffs on BRICS countries, the overall average tariff rate in the U.S. could rise by as much as 6 percentage points.
● Trump: The Federal Reserve's interest rates are at least 3 percentage points too high
According to Odaily Planet Daily, U.S. President Trump stated that the Federal Reserve's interest rates are at least 3 percentage points too high. 'Mr. Too Late' costs the U.S. $360 billion a year in refinancing costs. Now there is no inflation, and companies are flocking to the U.S. Trump calls for lower interest rates.
● The Federal Reserve's June meeting minutes: CPI is high but GDP is steadily growing
According to Jin Ten Data, the Federal Reserve's June meeting minutes indicate that CPI remains high, the unemployment rate is low, and the labor market is stable. Current indicators show that the real GDP grew steadily in the second quarter. The total consumer price inflation in May is estimated at 2.3%, with core PCE at 2.6%, both lower than the beginning of the year. Short-term inflation expectations remain high, but long-term expectation indicators remain stable.
● Federal Reserve meeting minutes: Tariffs may have a lasting impact on inflation
According to BlockBeats, the Federal Reserve's June meeting minutes show that participants pointed out that stabilizing long-term inflation expectations is very important. Several participants commented that the rise in short-term inflation expectations could affect long-term expectations.
Most participants believe that tariffs could have a lasting impact on inflation, and some participants emphasized that this impact could spill over to inflation expectations. Some participants noted that inflation has been rising for some time, and if it continues to rise, the risk of losing control of long-term inflation expectations increases.
● The U.S. House of Representatives plans to vote next week (GENIUS stablecoin bill)
According to ChainCatcher, the U.S. House of Representatives plans to vote next week on the Senate's proposed (GENIUS stablecoin bill), abandoning the push for its own version. This move responds to President Trump's call to expedite cryptocurrency legislation, and if passed, it will become the first major crypto regulatory law in the U.S. The House is also focusing on advancing the (Digital Asset Market Clarity Act), which aims to establish a comprehensive regulatory framework for the crypto market. The Senate Banking Committee has expressed hope to complete the legislative process by September 30.
● SEC delays approval of BlackRock's spot Ethereum ETF physical redemption
According to ChainCatcher, the U.S. Securities and Exchange Commission (SEC) has delayed approval of BlackRock's spot Ethereum ETF physical redemption method.
● South Korea plans to lift restrictions on 'risk enterprises' in the virtual asset industry
According to Wu Shuo, the South Korean Ministry of SMEs and Startups announced a legislative preview for partial amendments to the (Special Act on Training Risk Enterprises), intending to remove 'virtual asset-related industries' from restricted industries. After the amendment, virtual asset companies will be able to apply for or maintain 'risk enterprise' status. The amendment indicates that with the implementation of the (Virtual Asset User Protection Act) and the improvement of the policy environment, continuing to restrict the industry has become outdated.
