Traditional finance and crypto are gradually converging, opening up a completely new era. Major financial corporations are racing to bring crypto products to customers, while crypto exchanges are competing to tokenize stocks and traditional assets. Just in the past few weeks, the pace of innovation has been staggering:
- Kraken has launched xStocks, turning US stocks into tradeable tokens on the Solana blockchain.
🇺🇸 President Trump said he does not think he will extend the deadline of July 9 for countries to negotiate trade deals with the US.
🇯🇵 He continues to doubt the possibility of reaching an agreement with Japan and said that the US could impose tariffs of 30%, 35%, or any level decided on imports from Japan, higher than the 24% tariff announced on April 2.
The Smarter Web 🇬🇧 technology company has purchased an additional 230.05 BTC for 24.6 million USD at an average price of 107,126 USD — bringing the total amount of BTC held by the company to 773.58 BTC.
This is the 5th purchase of The Smarter WEB in its "10-Year Plan" for its Bitcoin treasury policy.
🇬🇧 Vaultz Capital has purchased an additional 40 BTC and now holds a total of 50 bitcoins. Vaultz Capital is an investment company focused on technology and has recently shifted to become a Bitcoin holding fund. The company's headquarters is located in London, United Kingdom.
🇬🇧 Coinsilium Group Forza! has purchased an additional 15.42 BTC, raising the total holdings to 73.73 bitcoins. Forza! is a wholly-owned subsidiary of Coinsilium Group in Gibraltar, established to manage the group's Bitcoin fund. The headquarters is located in London, United Kingdom.
🇫🇷 The Blockchain Group has purchased an additional 60 BTC and now holds a total of 1,788 bitcoins. This is the leading company in France in the field of supporting and developing blockchain technology solutions.
🇸🇪 H100 Group announced that after making several Bitcoin purchases, they have officially adopted a strategy of holding Bitcoin as reserve assets. This is a healthcare technology company based in Stockholm, Sweden.
🇺🇸 CRYPTO COMPANIES APPLYING FOR NATIONAL BANK CHARTER IN THE U.S.
- Many crypto companies such as Circle (USDC) and Fidelity Digital Assets have applied for a national bank charter from the OCC.
- Circle has filed to establish the First National Digital Currency Bank.
- These licenses will allow them to operate across state lines without the need for separate money transmission licenses.
- Anchorage Digital is currently the only crypto company that has been granted this type of license.
- Jonathan Gould is the nominee by President Trump for the new Chairman of the OCC, he is regarded as crypto-friendly but has not yet been confirmed by the Senate.
The market is oscillating between good and bad news: - Bitcoin ended June up + 2.49% - Ethereum ended June slightly down - 1.49% Highlight: #BTC maintained a price above $100K through June, full of economic events and important global fluctuations
🇺🇸🇨🇦 Canada has decided to cancel its plan to impose a digital services tax on American tech companies. This decision came after President Trump threatened to end all trade negotiations with Canada over this tax.
Canada announced that Prime Minister Mark Carney and President Trump have agreed to resume negotiations, with the goal of reaching a trade agreement by July 21, 2025.
President Trump told Republican lawmakers not to cut spending too much or risk losing seats in Congress (politicians are not elected just because they are good at saving money).
In other words, don't worry too much about saving because America will spend a lot to boost the economy.
Data of great interest will be on Thursday, related to the employment figures and unemployment rate in the U.S. Additionally, people are also waiting for information about the GENIUS (Stablecoin) bill and when President Trump's spending bill will begin to be voted on in Congress.
🇺🇸 CONGRESS REACHES NEW AGREEMENT TO FAST-TRACK CRYPTO LEGISLATION After several days of discussions, Senate leaders and the White House have agreed not to combine the market structure bill (CLARITY) and the stablecoin bill (GENIUS). This means that the two bills will continue to be voted on separately.
Senator Tim Scott stated: “We are committed to completing the market structure bill by the end of September.”
This goal is later than the initial August deadline set by President Trump.
The White House plans to present the bill before the August recess, hold a markup session in early September, and vote at the end of September.
🇺🇸 PRESIDENT TRUMP CRITICIZES FED CHAIR POWELL AND WANTS INTEREST RATES LOWERED TO ABOUT 1%
In an interview on FOX, President Trump called Fed Chair Jay Powell a "terrible person" and "stupid" for keeping interest rates too high.
He said the U.S. should have interest rates at 1% or 2%, like Switzerland, because U.S. interest rates affect the global economy.
Regarding the upcoming $9 trillion debt maturity, he intends to only refinance short-term instead of locking in high rates for 10 years.
President Trump mentioned there are "three good candidates" to replace Fed Chair Powell when his term ends next May: "I like anyone other than Powell."
He referred to Kevin Hassett and noted, "Kevin is a very talented person," but he may not necessarily choose him. Kevin Hassett was formerly the Chair of the White House Council of Economic Advisers.
CHAMATH EXPLAINS WHY BITCOIN MAY RISE SHARPLY AND REPLACE GOLD AFTER HALVING
Chamath Palihapitiya (founder and CEO of Social Capital) explains that if you really want to understand Bitcoin, you need to closely observe what happens to its price after each 'halving.' A Bitcoin halving is when the reward that miners receive for creating new Bitcoin is cut in half. Imagine you are managing an orange farm, and overnight, your trees only produce half as many oranges. Because fewer new oranges (or fewer Bitcoins) are brought to market, each unit will become scarcer and may be worth more.