Overview of Important Overnight Developments
1. JPMorgan lowers stablecoin growth expectations, with payment applications accounting for only 6%.
2. Turkey blocks 46 crypto platforms including PancakeSwap, marking the first action against DEX.
3. Japan's Mac House partners with Zero Field to enter Bitcoin mining.
4. U.S. non-farm payrolls increased by 147,000 in June, exceeding expectations, with the probability of a rate cut in July dropping to single digits.
5. Bahrain's central bank launches the world's first compliance framework for stablecoin issuers.
6. The Ethereum Foundation funds Argot Collective for three years to strengthen Solidity development.
7. Investment banks adjust Fed rate cut expectations: first cut in September, potentially two cuts this year.
8. CICC: Structural mismatch in the U.S. labor market, with a slowdown in the rise of unemployment rate.
