According to Cointelegraph, U.S. Democratic lawmakers have labeled cryptocurrency as a "scam" during a press conference held on Wednesday, advocating for the establishment of a central bank digital currency (CBDC). Representative Maxine Waters criticized the CBDC Anti-Surveillance State Act, a proposed bill aimed at preventing the creation of a government-controlled digital dollar, referring to it as the "anti-innovation act." She expressed concerns that both the anti-CBDC bill and the GENIUS stablecoin bill pose threats to national security. Representative Stephen Lynch, who was also present at the event, stated that cryptocurrency lacks any legitimate use case. He remarked, "As a committee, we've learned that there is no legitimate use case for cryptocurrency, as of yet, unless you count the illegal practices of every single ransomware heist that has affected US businesses, which have been fueled and facilitated by cryptocurrency." Lynch further described cryptocurrency as a "highly risky and volatile product" that does not belong in a well-regulated financial system, labeling the entire industry as a scam. In January, U.S. President Donald Trump signed an executive order banning CBDCs. The debate over CBDCs continues as countries remain divided on their adoption. In February, Federal Reserve Chair Jerome Powell testified at a Senate hearing, stating that the central bank would not develop a CBDC during his tenure. Meanwhile, other nations are progressing with the digitization of their fiat currencies, often citing the need to keep their currencies competitive in the digital age while maintaining sovereign control and avoiding reliance on third-party stablecoin companies. Despite these developments, most Americans either oppose the adoption of a CBDC or remain undecided. Internationally, the Reserve Bank of India announced plans in May to expand its CBDC test trials, focusing on new use cases for its digital rupee. In July, Australia's central bank revealed intentions to test wholesale CBDCs in a closed experiment with select institutions. Conversely, Bank of England Governor Andrew Bailey recently argued against the issuance of a CBDC by the UK's central bank, suggesting it could destabilize the banking system. Instead, Bailey recommended that the Bank of England should concentrate on tokenizing deposits.

On Jul 16, 2025, 21:02 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 120,000 USDT benchmark and is now trading at 120,014.640625 USDT, with a narrowed 3.05% increase in 24 hours.

OKX market shows that BTC has broken through 120,000 USDT and is now at 120,002.4 USDT, with a 24-hour increase of 3.14%. (This newsletter is generated by AI)

Polygon (POL) is trying to stage a comeback as the broader crypto market trends upward. But while its price hovers near key resistance, attention is quietly shifting toward tokens offering real-world utility, like Remittix, the emerging PayFi player with explosive growth. Investors focused on crypto solving real-world problems are increasingly asking whether POL still deserves. . . source: https://crypto-economy.com/will-polygon-pol-show-signs-of-life-remittixs-real-world-utility-and-16-2m-raised-has-it-tipped-to-100x/

L33tz, the founder of The Rage crypto trade publication, submitted the FOIA request in March and reportedly received a response on Wednesday. source: https://www.theblock.co/post/363034/us-marshals-service-holds-just-28988-btc-far-less-than-expected-foia-request-reveals?utm_source=rss&utm_medium=rss

Momentum’s back — BTC leads, risk assets follow source: https://blockworks.co/news/solana-rallies-risk-appetite-returns

US Attorneys continued hearing from witnesses in their case against the Tornado Cash co-founder and filed a motion to block testimony on crypto-related kidnappings and torture. source: https://cointelegraph.com/news/prosecutors-block-testimony-crypto-kidnappings-roman-storm-trial?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Institutional investor demand for Solana-based staking options could set a fire under SOL price. source: https://cointelegraph.com/news/sol-news-update-will-liquid-staking-launch-trigger-rally-to-dollar185?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Maxine Waters has stepped up warnings as the House reviews three crypto bills during GOP-led “Crypto Week”. She has argued that the CLARITY and GENIUS Acts would endanger consumers, enrich crypto billionaires, and deepen Donald Trump’s ties to what she calls “growing crypto crimes”. The post Digital Asset Bills Create A Casino For Crypto Billionaires, Rep source: https://cryptonews.com/news/digital-asset-bills-create-a-casino-for-crypto-billionaires-rep-maxine-waters-says/

World Liberty Financial (WLFI) token holders approved a governance proposal to make the WLFI token tradable, allowing the project to begin enabling transfers and secondary market access. Token holders cast overwhelmingly affirmative ballots before the July 16 close, with 11. 1 billion tokens voting “Yes,” equivalent to 99. 94% source: https://cryptoslate.com/world-liberty-financial-holders-back-wlfi-public-trading-with-massive-99-9-positive-votes/

There is no absolute difference in the mechanism design of Bybit and Bitget, but each is adapted to completely different trader profiles and strategy requirements.

Golden Finance launches "Golden Web3.0 Daily" to provide you with the latest and fastest MEME, DeFi, DAO, NFT and Metaverse industry news.

The United States is launching three arrows at the same time, namely the Stablecoin Act, the Market Structure Act and the Anti-CBDC Act, in an attempt to establish its hegemony as a global digital asset center in one fell swoop and completely end the gray era of regulation.

Tracy Jin of MEXC exchange warned that real world assets (RWA) hide risks that could lead to a repeat of the 2008 subprime mortgage crisis.

The FTX Recovery Trust’s “restricted jurisdiction procedure” is ostensibly a compliance guise, but is in fact a structural exclusion mechanism.

Stablecoins have recently risen rapidly and become the focus of global attention. Bank of America pointed out that four market areas are expected to be boosted by the stablecoin craze.

First, Circle sought to go public, and then Pump.fun issued coins on the chain.

PayPal’s USD-pegged stablecoin, PYUSD, has secretly went live on Ethereum Layer 2 network Arbitrum, accordign to an updated version of PayPal’s cryptocurrency terms and conditions, published on July 16, 2025.

Why does SharpLink want to transform into an Ethereum treasury company? What are the important nodes on the road to ETH treasury strategy? What opportunities and challenges does SharpLink face after the transformation?

GameStop has bought over $500 million worth of Bitcoin as a hedge against inflation and may allow crypto payments for trading cards. The company says it will take a careful approach to crypto, using its strong finances to explore new opportunities without rushing in.