Headlines
▌Circle will launch the stablecoin-focused Layer 1 blockchain ARC.
According to Circle's official blog, Circle has announced the launch of Arc, an open Layer-1 blockchain designed specifically for stablecoin financial scenarios. Arc uses USDC as its native gas, supporting low and predictable USD-denominated transaction fees, and incorporates an institutional-grade foreign exchange engine for 24/7 automatic settlement between stablecoins. Arc employs the Malachite high-performance consensus mechanism, supporting sub-second instantaneous finality and optional privacy protection. The chain is EVM compatible and targets applications such as cross-border payments, stablecoin derivatives, on-chain credit, and capital market settlements, with public testing expected to open this fall and mainnet launch planned for 2026.
▌Remittance giant Western Union is considering launching a US dollar stablecoin.
Remittance giant Western Union Co. is considering launching its own US dollar stablecoin as more and more cryptocurrency projects compete with its core business of cross-border money transfers. CEO Devin McGranahan stated in an interview on Monday: 'We are exploring opportunities to issue a stablecoin, especially in markets outside the US.' He added that this stablecoin could 'almost act like a dollar savings account' for customers in other countries where regulators allow such activities.
Market Trends
As of the time of publication, according to CoinGecko data:
BTC price is $120,111, 24-hour change +1.2%;
ETH price is $4,602.86, 24-hour change +8.9%;
BNB price is $834.77, 24-hour change +3.7%;
SOL price is $192.31, 24-hour change +9.9%;
DOGE price is $0.236, 24-hour change +6.1%;
XRP price is $3.27, 24-hour change +4.4%.
TRX price is $0.3522, 24-hour change +1.9%.
Policy
▌Trump: Powell should cut rates immediately! Considering a major lawsuit against him.
US President Trump stated on social media: 'Mr. Powell must lower interest rates now. He always does it too late, causing immeasurable harm. Fortunately, the economic situation is very good, and we have overcome Powell and the complacent committee. However, I am considering allowing a major lawsuit against Powell, as his management of the Federal Reserve building construction has been terribly poor and very incompetent. $3 billion for a job that should have cost $50 million to fix. Not great!
▌Guangzhou: Strengthen efforts to attract investment in key digital service institutions such as blockchain and artificial intelligence.
The Guangzhou Municipal People's Government recently issued (Implementation Plan for Financial Support for the Deepening of Comprehensive Cooperation between Guangdong-Hong Kong-Macao in Nansha). It mentioned supporting the development of the digital industry. Strengthening efforts to attract investment in key digital service institutions such as blockchain and artificial intelligence, fostering local high-quality digital service institutions. Encouraging digital industry enterprises to strengthen cooperation with Nansha financial institutions and expand the integration of financial scenarios. Supporting the establishment of data computing centers, R&D certification centers, evaluation centers, and regulatory platforms in Nansha that integrate key digital technologies like blockchain and artificial intelligence with financial scenarios. Promoting data exchanges to improve comprehensive services for data circulation and transactions, innovating data financial products in cooperation with financial institutions and credit reporting agencies, strengthening cooperation and connection with licensed digital asset trading platforms in Hong Kong, studying the construction of a cross-border rule system for mutually recognized digital assets, and piloting projects. Innovating digital asset trading service methods.
▌Vietnam to pilot a digital asset exchange in the international financial center.
The Vietnamese government announces to pilot a digital asset exchange in the international financial center. Three legal initiatives have laid the foundation for the digital asset sector, including a resolution passed by Congress to develop financial centers, a proposal submitted by the Ministry of Finance for the digital asset exchange pilot program, and a new law clarifying asset category definitions. The Ministry of Finance is refining relevant pilot policies, expected to be submitted to the government in August, covering issuance, trading, management, and other aspects. Service agencies can independently choose listed assets, prioritizing those with high liquidity. The official emphasized that blockchain is the core infrastructure and will strengthen cybersecurity and risk control. The central bank is studying the national digital currency (CBDC) model.
Blockchain Applications
▌Block plans to provide Bitcoin banking services for small businesses.
According to Cointelegraph, Twitter co-founder Jack Dorsey's payment platform Block plans to provide a full suite of Bitcoin banking services for small businesses.
▌Perplexity proposes a $34.5 billion acquisition of the Chrome browser.
According to the Wall Street Journal, AI company Perplexity has proposed a $34.5 billion acquisition of Google's Chrome browser. Perplexity is currently valued at about $18 billion, and the company claims that several large venture capital funds have agreed to fully support the deal.
▌Paradigm co-founder Matt Huang appointed as the first CEO of Stripe's blockchain project Tempo.
According to several informed sources, payment giant Stripe has appointed Matt Huang, co-founder and managing partner of cryptocurrency venture capital firm Paradigm, as the first CEO of its new blockchain project Tempo, which is accelerating its entry into the blockchain space. Huang is also a board member of Stripe and will continue to serve as managing partner at Paradigm. Prior reports indicated that Stripe was collaborating with Paradigm to develop the L1 blockchain Tempo.
▌Do Kwon will plead guilty in the $40 billion cryptocurrency crash case.
According to Reuters, a US court judge stated during a hearing that Terraform Labs founder Do Kwon will plead guilty to two counts of conspiracy to commit fraud and wire fraud, in a case involving a cryptocurrency crash worth over $40 billion.
Cryptocurrency
▌Pantera has invested over $300 million in DAT.
Pantera Capital has disclosed that it has invested over $300 million in Digital Asset Treasury (DAT), with its portfolio covering eight tokens: Bitcoin, Ethereum, Solana, BNB, Toncoin, Hyperliquid, Sui, and Ethena, involving companies in the US, UK, and Israel. Pantera believes that DAT may have higher return potential than direct holdings or ETFs. Recently, Pantera has raised two DAT-specific funds, with total fundraising exceeding $100 million.
▌BitMine discloses plans to issue up to $20 billion in common stock.
According to the supplementary documents of BitMine's prospectus, Bitcoin mining company BitMine Immersion Technologies plans to issue up to $20 billion in common stock. The company previously raised about $4.499 billion through a sales agreement. BitMine stated that it primarily engages in Bitcoin mining, and recently launched Ethereum financial management strategies. The company plans to raise funds through the issuance of common stock, fixed-income instruments, and other means to purchase Bitcoin and Ethereum and expand its mining operations. The company operates its data center using immersion cooling technology and provides 'mining as a service' (MaaS) offerings to clients.
▌Circle releases Q2 financial report: USDC circulation surpasses 65 billion, a year-on-year increase of 90%
According to Businesswire, Circle released its Q2 2025 financial report. The report showed that by the end of the second quarter, USDC circulation increased by 90% year-on-year to $61.3 billion, with total revenue and reserve income increasing by 53% to $658 million. The net loss for the quarter was $482 million, mainly impacted by two non-cash expenses related to the initial public offering (IPO).
▌Tron Inc. Q2 financial report: Shareholder equity exceeds $111 million, will continue strategic investments in digital assets.
NASDAQ-listed Tron Inc. released its financial performance report for the period ending June 30, 2025, disclosing that as of the second quarter of 2025, shareholder equity exceeded $111 million through investments in cash, cash equivalents, restricted cash, and TRON tokens (TRX), a year-on-year increase of over 3,500% compared to less than $3.1 million in shareholder equity in the same period of 2024. Additionally, for the three months ending June 30, 2025, Tron Inc. reported a net profit of $1,467,855, compared to a loss of $520,971 in the same period last year, with no debt beyond operational payables.
▌Grayscale launches DeepBook and Walrus Trust Fund.
Grayscale launches DeepBook and Walrus Trust for investing in DEEP and WAL tokens.
▌Coinbase: Set to launch the second stablecoin guidance fund, Bootstrap Fund.
Coinbase is set to launch its second stablecoin guidance fund, the Bootstrap Fund, aimed at enhancing the liquidity of stablecoins in the DeFi capital market. The fund is managed by Coinbase Asset Management (CBAM).
▌Kazakhstan's Fonte Capital launches Central Asia's first spot Bitcoin ETF.
Kazakhstan's Fonte Capital will officially launch Central Asia's first Bitcoin spot ETF—BETF—on August 13, 2025, on the Astana International Exchange (AIX). The fund is custodied by the US-regulated custodian BitGo, providing insurance coverage of up to $250 million. The trading price is denominated in USD.
▌USDC Treasury mints an additional 500 million USDC on the Solana chain.
According to @whale_alert monitoring, USDC Treasury has minted an additional 500 million USDC on the Solana chain.
▌Coinbase adds WCT to asset listing roadmap.
Coinbase announces the addition of WalletConnect Token (WCT) to its asset listing roadmap.
Important Economic Dynamics
▌US July CPI year-on-year growth of 2.7%, slightly below expectations.
US July CPI month-on-month growth of 0.2%, estimated at 0.2%, previous value at 0.3%. US July CPI year-on-year growth of 2.7%, estimated at 2.8%, previous value at 2.7%.
▌Trump administration plans to reform employment data collection methods.
According to the Wall Street Journal, after weak employment data led to the sudden dismissal of the Bureau of Labor Statistics director this month, White House officials revealed that the Trump administration is considering changing the methods of collecting and publishing federal government employment data. Sources revealed that White House staff and Labor Department officials have held a series of closed-door meetings in recent days to discuss using new technologies to improve data collection efficiency. A White House assistant stated that improving the response rate of the Labor Statistics survey is one of the reform goals. Officials said Trump has explicitly requested to avoid significant data revisions in the future. White House Press Secretary Levitt stated on Tuesday that the president is reviewing the 'statistical methods and processes' behind employment data. Reports suggest that if the non-farm payroll report released on the first Friday of each month undergoes changes in statistical methods, it could raise doubts about Trump's manipulation of data for political purposes. This president, who consistently questions data that does not align with his worldview, has recently intensified control over traditionally independent operating agencies and purged career bureaucrats deemed disloyal.
▌White House: Trump is considering suing Powell over the renovation issues of the Federal Reserve building.
White House spokesperson Levitt stated on Tuesday that President Trump is considering suing Federal Reserve Chair Powell for issues related to the management of renovations at the Federal Reserve's Washington headquarters. President Trump earlier mentioned this potential action on social media, intensifying his ongoing pressure on Powell to lower interest rates.
▌US Treasury Secretary: Trump is widely considering candidates for the Federal Reserve Board, including former Chair Yellen.
On Tuesday local time, US Treasury Secretary Yellen expressed optimism that the Senate will confirm the current chair of the Council of Economic Advisers, Stephen Moore, to fill the temporary vacancy on the Federal Reserve Board before the September FOMC meeting. Yellen revealed that President Trump is widely considering candidates to fill the permanent vacancy on the Federal Reserve Board that will arise in January next year and is very open to suggestions. She mentioned that the president has even considered nominating former Federal Reserve Chair Janet Yellen. 'This is not an ideological issue; it's about the economy—what is most beneficial for the American people, what is most beneficial for economic development,' emphasized Yellen.
▌US Treasury Secretary: The Federal Reserve has fundamental issues and hopes to find someone who can reorganize it.
US Treasury Secretary Yellen: Actively seeking talent for the position of Federal Reserve Chair, Trump is very open-minded. The Federal Reserve has fundamental issues. We hope to find someone who can reorganize the Federal Reserve. If the data is accurate, the Federal Reserve may cut interest rates in June.
▌US national debt exceeds $37 trillion for the first time.
As of the time of publication, according to CoinGecko data:
▌US Treasury Secretary: The Federal Reserve should consider a 50 basis point cut in September.
US Treasury Secretary Yellen: The Federal Reserve should consider a 50 basis point interest rate cut in September.
Golden Encyclopedia
▌How did MicroStrategy soar over 1000 times in stock price using BTC?
Corporate treasuries are the financial nerve center of enterprises, tasked with ensuring liquidity, managing risks, and optimizing returns. They have traditionally been conservative, relying on fiat currencies, bonds, and other stable investments. However, MicroStrategy has adopted Bitcoin as its primary reserve asset, breaking this mold. The goal of fund managers is to achieve a delicate balance between risk and return. Their main aim is to protect the company’s assets from market downturns or liquidity crises while ensuring the best returns on the remaining funds of the company they manage. They should also manage risks during periods of market volatility and stress. This is why MicroStrategy's inclusion of Bitcoin in its treasury is significant, challenging traditional norms and adopting a high-risk, high-return strategy. Therefore, this bold strategy has not only changed its balance sheet but also transformed its stock performance, solidifying the company’s position as a pioneer in cryptocurrency adoption.
MicroStrategy co-founder and executive chairman Michael Saylor views Bitcoin as a remedy against fiat inflation. He believes the purchasing power of the dollar is rapidly diminishing, and Bitcoin, due to its limited supply, has excellent value retention capabilities. This strategy has transformed MicroStrategy into a hybrid of a software company and a cryptocurrency investment tool. MicroStrategy utilizes financing strategies such as stock issuance, debt financing, free cash flow, and Bitcoin-backed loans to drive its Bitcoin purchases. This strategy needs to comply with mainstream financial service regulations while ensuring the ability to manage volatile assets like Bitcoin. MicroStrategy's bold Bitcoin acquisition strategy, leveraging convertible notes and dollar-cost averaging, has transformed it from a struggling software company into a Bitcoin proxy company, boosting its stock price by over 1,000 times and redefining its market image.
