CoinMarketCap front-end attacked, Trump: May support ceasefire between Israel and Iran

Headline

▌Security agency: CoinMarketCap front-end attacked, reminding users to be vigilant

According to ScamSniffer monitoring, CoinMarketCap front-end attacked, reminding users to be vigilant.

▌Trump: May support ceasefire between Israel and Iran

US President Trump said it is very difficult to ask Israel to stop air strikes. We have been communicating with Iran. Iran is unwilling to talk to Europe. Gabbard (US Director of National Intelligence) is wrong to say there is no evidence that Iran is developing nuclear weapons. I think Iran is only weeks or months away from having nuclear weapons. May support ceasefire. Israel is doing well, Iran is not doing well.

Market

As of press time, according to Coingecko data:

BTC price is $104,711, up 0.1% in 24 hours;

ETH price is $2,519.84, up 0.2% in 24 hours;

BNB price is $643.63, up -0.8% in 24 hours;

SOL price is $146.28, up -1.2% in 24 hours;

DOGE price is $0.1704, up +0.3% in 24 hours;

XRP price is $2.17, up +0.3% in 24 hours.

TRX price is $0.273, up +0.5% in 24 hours.

Policy

▌David Sacks: The passage of the GENIUS Act is a major victory for the crypto community

David Sacks, the White House's director of cryptocurrency and artificial intelligence and "crypto czar", said in an interview with FOX that the passage of the GENIUS Act is a major victory for the crypto community.

▌Bloomberg analysts raise the odds of approval for spot XRP, Dogecoin and Cardano ETFs to 90%

According to market news, Bloomberg analysts have raised the odds of approval for spot XRP, Dogecoin and Cardano ETFs to 90%.

Blockchain Applications

▌Circle: CCTP V2 is launched on the Solana blockchain

Circle announced on the X platform that its cross-chain transmission protocol CCTP V2 has been launched on the Solana blockchain, supporting developers and users to quickly transfer funds, as well as smart contract integration for post-transfer operations. As of now, other blockchains that support CCTPV2 include Arbitrum, AVAX, Base, Ethereum, Linea, Optimism, Sonic Labs and WorldChain.

▌Wyoming plans to launch the WYST stablecoin mainnet on August 20

The latest monthly meeting minutes of the Wyoming Stable Coin Committee (a government-backed organization) show that the committee plans to officially launch its WYST stablecoin mainnet on August 20. WYST is a stablecoin pegged to the US dollar, authorized by the Wyoming Stable Coin Act in 2023, aimed at consolidating the state's leadership in the blockchain field. At present, the organization has not finalized which of the 11 blockchains, Aptos, Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, Sei, Solana, Stellar, and Sui, WYST will be deployed on, but the first state-backed stablecoin is likely to choose to be released simultaneously on multiple blockchains.

Cryptocurrency

▌Peter Schiff said he "understands Bitcoin" but does not understand the US dollar stablecoin, and plans to launch a gold-backed token

Peter Schiff, a well-known gold supporter and long-time cryptocurrency and Bitcoin critic, said he "understands Bitcoin" but does not understand the value of a stablecoin pegged to the US dollar. He believes that since third-party custody is to be introduced, why not choose a token backed by gold instead of a token backed by "flawed fiat currencies such as the US dollar." Schiff posted on the X platform on Friday that he plans to launch his own gold-backed token, but did not provide a specific timeline or more details. Currently, the market size of stablecoins backed by the US dollar has exceeded $260 billion, dominating the market, while the market size of gold-backed tokens is relatively small, at about $2 billion. Schiff's remarks came as the US Senate passed the "GENIUS Act" aimed at regulating the fast-growing stablecoin industry. Although gold tokens are still a niche market, they are mainly used as on-chain value storage and are striving to play a greater role in decentralized finance (DeFi) applications, such as as loan collateral.

▌Trend Research's ETH cost is about $2,240, and it holds a total of 177,000 ETH

According to EmberCN monitoring, Trend Research under LD Capital should now hold about 177,000 ETH (about $453 million), some of which were bought by borrowing USDT from Aave by mortgaging ETH. A total of 230 million USDT were borrowed, with a leverage ratio of nearly two times. Its comprehensive cost of ETH should be around $2,240, and it currently has a floating profit of about $55 million.

▌Analysis: Bitcoin price stabilizes, but it is unlikely to hit a new high before July

Analysis points out that Bitcoin has rebounded 10% since June 5, but the probability of breaking a new high before July is only 16%. On-chain data shows that open interest continues to decrease, and there are obvious signs of liquidation exhaustion. The market is "cleaning up longs". If the resistance level of $108,000 is broken, BTC is expected to enter the price discovery stage. Analysts believe that the Fed's stabilization of interest rates and the return to the mean of MVRV may be a positive signal.

Important Economic Dynamics

▌Fed's Daly: If there are no tariff measures, interest rate normalization will be considered

Fed's Daly said that concerns about the impact of tariffs on inflation are not as serious as when they were first announced; if there are no tariff measures, interest rate normalization will be considered; the continued decline in inflation is good news. And said that economic fundamentals are moving in the direction that may require a rate cut, unless there is a weakening in the labor market, a rate cut in the fall seems more appropriate.

▌Fed officials have "polar" differences on the impact of tariffs and the urgency of rate cuts

The new economic forecast released by the Federal Reserve this week expects economic growth to slow and inflation to rise. However, policymakers still expect a rate cut later this year-an indication that they do believe that tariffs will push up prices, but not last. However, opinions diverge greatly: among the 19 officials, seven policymakers believe that a rate cut is not needed this year, and eight believe that two rate cuts are needed, which is consistent with investors' views that the Federal Reserve will cut interest rates by 25 basis points at its September and December meetings. Another two expected one rate cut, and two expected three rate cuts. Fed Governor Waller and Fed Governor Barkin expressed their views on interest rates after the resolution. The former believed that interest rates would be cut as early as July, while the latter believed that there was no rush to cut interest rates. Although neither Waller nor Barkin clearly stated their specific views on interest rates, their statements were at two extremes in terms of the extent to which Trump's tariffs would affect prices, employment and economic growth in the coming months.

▌The three major U.S. stock indexes closed mixed, with Circle rising more than 20%, setting a record closing high

The three major U.S. stock indexes closed mixed, with the Nasdaq down 0.51% and up 0.21% this week; the S&P 500 fell 0.22% and down 0.15% this week; the Dow rose 0.08% and up 0.02% this week. Most large technology stocks fell, with Google falling nearly 4%, Meta, Intel, Amazon, and Nvidia falling more than 1%, and Microsoft falling slightly; Apple rose more than 2%, and Tesla rose slightly. Circle rose more than 20%, setting a record closing high.

▌Fed Barkin: Current data shows no urgent reason to cut interest rates

Fed Barkin said that current data shows no urgent reason to cut interest rates, the job market and consumption remain strong, the final direction of trade policy has not yet been determined, and it is unclear how it will affect prices and employment; companies expect to raise prices later this year as more expensive imported goods have entered their inventory; companies not affected by tariffs see the chaos in trade policy as an opportunity to raise prices.

▌Fed: The value of US dollar foreign exchange has generally fallen

The Federal Reserve's monetary policy report shows that the value of US dollar foreign exchange has generally fallen. Treasury market operations remained orderly in early April, but liquidity fell to levels not seen since early 2023.

Golden Encyclopedia

▌How does quantitative easing work and affect encryption?

Quantitative easing (QE) is a non-traditional monetary policy tool used by central banks, especially when interest rates are already low and cannot be lowered further.  It became popular during the 2008 global financial crisis, when traditional monetary tools such as lowering interest rates were not enough to stimulate economic growth. Quantitative easing not only affects traditional financial markets, but also the cryptocurrency market.  When central banks inject more money into the economy, some of that money flows into alternative assets such as Bitcoin and altcoins, pushing up their prices. With more money available for investment, the surge in liquidity typically pushes up all asset prices, including cryptocurrencies. Additionally, during periods of quantitative easing, fiat currencies may lose value due to an increase in money supply, leading some investors to seek cryptocurrencies as a hedge against the risk of inflation or currency devaluation. Bitcoin, in particular, is often viewed as a store of value similar to gold.  After quantitative easing ends, cryptocurrencies may suffer. When central banks end quantitative easing or start raising interest rates (tightening), liquidity decreases and borrowing costs rise. This can lead to a pullback in risky assets, including cryptocurrencies.