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The dollar, as the world's primary reserve currency, accounts for 58% of foreign exchange reserves and over 40% of international payments, making it difficult to replace in the short term. Cryptocurrencies like Bitcoin are highly volatile and are more often seen as speculative assets rather than currency alternatives.

Stablecoins like USDT and USDC are pegged to the US dollar at a 1:1 ratio, effectively expanding the dollar's usage globally. For instance, in high-inflation countries like Argentina and Turkey, people hold dollars through stablecoins as a hedge, indirectly enhancing the dollar's influence.

The U.S. is promoting the compliance of stablecoins, requiring issuers to maintain transparent reserves and accept regulation, while cracking down on non-dollar stablecoins (like Terra's UST) and non-compliant exchanges to maintain the dollar's dominance in the digital currency space.

(World Investment Report 2025) released, global FDI down 11% in 2024
On June 19 local time, the United Nations Conference on Trade and Development released the (2025 World Investment Report) showing that in 2024, global foreign direct investment (FDI) increased slightly by 4%, reaching $1.5 trillion, but after excluding fluctuations in European financial transactions, it actually declined by 11%, marking two consecutive years of double-digit decline. International project financing dropped by 26%, while digital investment grew by 14%. Cross-border merger and acquisition transaction volume grew by 14%, reaching $443 billion, but still below the average level of the past decade. The report states that the international investment outlook for 2025 is not optimistic. Trade tensions have led to a downward adjustment of most FDI outlook indicators. Early data for the first quarter of 2025 shows that transaction and project activity has hit a historic low.#usdc $BTC

Trump posted on Truth Social, warmly praising the Senate for passing the digital asset legislation known as the "GENIUS Act." He stated that the bill would make the United States the "undisputed leader in the digital asset space" and bring "huge investments and innovations." He hopes the House of Representatives will push the legislation through at lightning speed, swiftly pass the stablecoin bill, and send it to his desk as soon as possible, emphasizing "no delays, no attachments." In his post, he stressed: "Digital assets are the future, and our country will lead in this field," and expressed that the United States will show the world how to achieve unprecedented success in the digital asset space.

Ohio Passes HB 116 'Bitcoin Rights' Bill

According to Cointelegraph, Ohio's 'Bitcoin Rights' Bill HB 116 was passed by the House Technology and Innovation Committee with a vote of 13 to 0. The bill protects self-custody rights, ensures mining and node operation, and establishes a $200 tax exemption for capital gains on digital asset transactions.

The U.S. Senate passed the landmark (GENIUS Act) on Tuesday, advancing the federal government's regulatory efforts on stablecoins and putting pressure on the House of Representatives to plan the next phase of the national regulatory efforts on digital assets. This marks the first time the Senate has passed significant cryptocurrency legislation. The sponsor of the (GENIUS Act), Republican Senator Bill Hagerty, thanked some of his Senate colleagues for their support before the formal vote. Less than a week ago, lawmakers voted overwhelmingly to pass the bill, and many expect it to be approved. Next, the House needs to decide how to proceed. In April of this year, the House Financial Services Committee introduced its own stablecoin legislation - the (Stablecoin Transparency and Accountability to Promote Better Ledger Economy Act). However, that bill has yet to be submitted for a full House vote. $BTC

Trump Media Group TMTG plans to launch a second cryptocurrency ETF that will invest in both Bitcoin and Ethereum. Previously, the group had applied for a Bitcoin ETF codenamed DJT. The new ETF adopts a dual-currency strategy to attract more investors.

This move is seen as a means for Trump to expand his political influence and may win the support of the crypto community and young voters. At the same time, TMTG's social platform Truth Social has been sluggish in growth, and the crypto business may become a new profit point. If approved, it may boost the price of the currency in the short term, but Trump's personal risks may increase the volatility of the ETF.

The plan faces SEC review challenges, and there is still controversy over whether Ethereum is a security. The market competition is fierce, and it needs to differentiate from institutional products such as Grayscale and BlackRock. In the context of the 2024 election, crypto assets are becoming increasingly politicized, and the Republican Party has a more friendly attitude.

The U.S. Securities and Exchange Commission (SEC) is considering a comprehensive reform of the regulatory rules for cryptocurrency brokers. This initiative aims to strengthen the regulation of digital asset trading platforms and may require crypto brokers to comply with rules similar to those of traditional securities brokers.

SEC Chairman Gary Gensler stated that many cryptocurrency trading platforms actually provide functions similar to those of securities exchanges but have not registered under securities regulations. The reforms may involve stricter information disclosure requirements, client asset segregation regulations, and management of conflicts of interest.

Trump Media Technology Group (TMTG) plans to seek approval from the U.S. Securities and Exchange Commission (SEC) to launch Bitcoin and Ethereum ETFs, a move that could have multiple impacts on the cryptocurrency market and Trump’s business. The following is a key point analysis.
Background and Motivation
Trump himself has long supported cryptocurrencies and has promised to promote the U.S. as a crypto powerhouse if elected. TMTG's move may be aimed at consolidating its influence in the crypto community while attracting more attention to its social media platform, Truth Social. The Bitcoin spot ETF has been approved by the SEC in 2024, such as BlackRock's IBIT, with strong demand. Expectations for the approval of an Ethereum spot ETF are also rising, and TMTG may hope to seize the opportunity.