Headlines
▌Tether holds $8 billion worth of gold in a secret Swiss vault
According to Bloomberg, Tether Holdings SA, the world's largest stablecoin issuer, has its own vault in Switzerland, storing $8 billion worth of gold, and is looking to expand its gold reserves. The El Salvador-based cryptocurrency company said it currently holds nearly 80 tons of gold. The vast majority of it is held directly by Tether, making it one of the world's largest gold holders outside of banks and countries. "We have our own vault. I believe it is the safest vault in the world," said Tether CEO Paolo Ardoino. The facility is located in Switzerland, but the company declined to disclose its specific location and establishment time for security reasons.
▌Truth Social submits S-1 application for cryptocurrency blue chip ETF
According to the official website of the US SEC, Truth Social has submitted an S-1 application for cryptocurrency blue chip ETF. The assets of the Truth Social Crypto Blue Chip ETF Trust mainly include Bitcoin, Ethereum, Solana (SOL), Ripple (XRP) and Cronos (CRO), which are held by the custodian on behalf of the trust. According to the provisions of the trust agreement, the percentage (allocation ratio) of the trust's assets allocated to the portfolio assets is initially expected to be approximately 70% Bitcoin, 15% Ethereum, 8% SOL, 5% CRO and 2% XRP. Crypto.com will serve as the exclusive digital asset custodian and main execution agent of the ETF, while providing pledge services and liquidity support. The official launch of the ETF still needs to wait for the registration statement to be approved by the SEC and the review and approval of the 19b-4 document. Once approved, the fund will be listed and traded on the NYSE Arca exchange.
Market
As of press time, according to CoinGecko data:
BTC price is $108,983, 24 hours ups and downs +0.7%;
ETH price is $2,615.26, 24 hours ups and downs +2.8%;
BNB price is $660.39, 24 hours ups and downs -0.1%;
Policy
▌Trump: Tariffs will start on August 1, 2025
US President Trump said that tariffs will start on August 1, 2025. The deadline will not change and no extension will be given.
▌Trump: Powell is like a baby and he should cut interest rates now
US President Trump said on the real social platform that the latest research of the White House Council of Economic Advisers (CEA) shows that tariffs have zero impact on inflation. The research data shows that import prices are continuing to fall - this completely confirms my previous prediction. Those fake news media and so-called "experts" have been slapped in the face by facts again! Tariffs are making our country "prosperous". Many new factories, jobs and trillions of dollars of investment are pouring into the United States. Someone should show this new study to Mr. Too Late Jerome Powell, who has been complaining like a baby about non-existent inflation for months and refusing to do the right thing. Jerome, it's time to cut rates!
▌Pakistan Establishes Digital Asset Regulator
The Federal Government of Pakistan has established the Pakistan Virtual Asset Regulatory Authority (PVARA) to oversee the country's digital asset industry. PVARA will serve as an independent regulator responsible for licensing, supervising and regulating virtual asset service providers while ensuring compliance with international standards, including following relevant guidelines from the Financial Action Task Force (FATF).
Blockchain Applications
▌The United States Sanctions North Korean IT Personnel, Accusing Them of Assisting Cyberespionage and Cryptocurrency Theft
The U.S. Treasury Department has added Song Kum Hyok, a member of the North Korean hacker group, to the "Specially Designated Nationals" sanctions list, accusing him of helping North Korean IT personnel work in overseas companies, engage in cyber espionage and steal cryptocurrency. Officials said that these IT personnel obtained positions in the technology and virtual currency industries by forging identities, and remitted income and stolen funds back to North Korea. Although no specific crypto wallet addresses were added this time, the Treasury Department reiterated that it has sanctioned Lazarus Group.
▌Coinbase Becomes ReserveOne's Crypto Service Custodian
Coinbase announced that it will provide crypto asset custody and comprehensive service support for ReserveOne. Coinbase Prime will combine deep liquidity, stable funding solutions, and secure custody capabilities to support on-chain strategies for institutional clients.
▌OpenSea Acquires Rally Wallet
OpenSea has acquired Rally, the developer of the Rally Wallet and its mobile-first Web3 app. The acquisition aims to strengthen OpenSea's presence in token trading, which currently covers 19 blockchains.
▌Phantom is rolling out support for perpetual contract trading
Web3 wallet Phantom is rolling out support for perpetual contract trading, starting with EU users, powered by Hyperliquid. The product leverages an API integration with Hyperliquid to access the market.
▌Ripple shareholder Linqto has filed for bankruptcy
Ripple shareholder Linqto has filed for bankruptcy in the U.S. District Court for the Southern District of Texas, and is expected to hold its first hearing on Tuesday local time. Ripple CEO Brad Garlinghouse clarified last week that Linqto owns 4.7 million secondary shares of Ripple, which are worth about $450 million at current market prices, but has no direct business relationship with the company.
▌BioSig and Streamex Sign $1.1 Billion Financing Agreement for Gold Tokenization Plan on Solana
BioSig Technologies (BSGM), a medical technology company that just merged with tokenization company Streamex, said it has signed a definitive agreement for up to $1.1 billion in financing to fund a gold-backed treasury model and expand its tokenization platform for real-world assets (RWA) such as gold and other commodities. Streamex plans to issue tokens backed by gold and other commodities through its platform built on the Solana (SOL) blockchain.
▌Fintech company SoFi expands investment services, accessing equity of unlisted giants such as OpenAI and SpaceX
Fintech company SoFi announced that it has expanded its investment opportunities and will allow users to invest in well-known unlisted startups such as OpenAI, SpaceX, and Epic Games through its platform. SoFi will work with asset managers such as Cashmere, Fundrise and Liberty Street Advisors to provide investment channels for these private market funds. The service aims to lower the barrier to entry, with a minimum investment of only $10, covering a number of high-growth areas such as artificial intelligence, aerospace technology, and healthcare. SoFi CEO Anthony Noto said the move provides a new generation of investors with more diverse alternative investment options. SoFi has previously supported cryptocurrency trading, and this time joined the ranks of companies such as Robinhood and Republic to provide retail investors with private company equity exposure, but unlike other tokenization methods, SoFi mainly provides it in the form of funds.
▌UK FCA fines Monzo £21 million for financial crime violations
The UK Financial Conduct Authority (FCA) fined digital bank Monzo £21 million for financial crime violations.
Cryptocurrency
▌ReserveOne plans to launch over $1 billion in Bitcoin-dominated digital asset reserves
Digital asset management company ReserveOne Inc. announced that it has reached a final business merger agreement with Nasdaq-listed SPAC company M3-Brigade Acquisition V Corp., planning to hold and manage a basket of crypto assets, with Bitcoin as the core, covering Ethereum, Solana and other assets with pledge and lending income potential, and provide asset value-added services to institutional investors. The transaction is expected to bring more than $1 billion in financing to ReserveOne, including approximately $298 million in trust funds (assuming no redemption) and $750 million in PIPE financing, including $500 million in common stock and warrants and $250 million in convertible bonds. Strategic investors participating in this round of financing include: Blockchain.com, Galaxy Digital, Kraken, Pantera Capital, ParaFi Capital and other institutions. After the completion of the transaction, ReserveOne plans to be listed on Nasdaq. SharpLink increased its holdings by 7,689 ETH, and its total ETH holdings exceeded 200,000. SharpLink Gaming, the "ETH version of MicroStrategy", officially announced that its total Ethereum holdings have increased to 205,634. From June 28 to July 4, SharpLink Gaming spent approximately US$19.2 million to increase its holdings by 7,689 ETH, with an average purchase price of US$2,501.
▌Blockchain technology company BTCS Inc. plans to raise $100 million to acquire Ethereum
Blockchain technology company BTCS Inc. plans to raise $100 million to acquire Ethereum in 2025. The move is part of the company's long-term vision to build a leading public company focused on Ethereum infrastructure while continuing to be one of the largest ETH holders among public companies. Depending on market conditions, the company plans to raise funds to acquire Ethereum on a rolling basis and is committed to maximizing capital efficiency.
▌Coinbase launches SQD, TIA, XYO and TAO for New York users
Coinbase announced that New York residents can now use Subsquid (SQD), Celestia (TIA), XYO (XYO) and Bittensor (TAO) on its website and Coinbase iOS and Android apps. Coinbase has been issued a license by the New York State Department of Financial Services to engage in virtual currency business activities.
Important Economic Dynamics
▌U.S. Treasury Secretary: Tariff revenue is expected to increase to $300 billion by the end of the year
U.S. Treasury Secretary Benson: So far, $100 billion in tariffs have been collected, and tariff revenue is expected to increase to $300 billion by the end of the year.
▌Trump plans to impose a 50% tariff on imported copper, and drug tariffs may be as high as 200%
U.S. President Trump told reporters during a cabinet meeting on Tuesday that more trade agreements are coming, especially in the form of letters in which the United States unilaterally sets tariffs. "These agreements are basically my demands on them," Trump said, "The numbers we chose are both low and fair." Trump added that the United States will impose a new 50% tariff on imported copper. "Today we are targeting copper. I think we will set the copper tariff at 50%." New York copper futures rose sharply in response, and the intraday increase once expanded to 17%. In addition, Trump said that the United States will soon impose tariffs of up to 200% on drugs, but companies will have a year and a half to adjust their supply chains before the tariffs take effect. Trump also said that he would soon announce tariffs on semiconductors, but he did not specify the level or date of the tariffs.
Golden Encyclopedia
▌How does the trade war affect the stock and crypto markets?
Tariffs raise the cost of imported goods and squeeze the profit margins of companies that rely on international supply chains. When automakers or electronics brands have to pay higher costs for parts, those costs will either erode profits or be passed on to consumers. In either case, it's bad news for earnings, which is a factor in determining stock valuations. There is also a fear factor. The trade war has injected huge uncertainty into the economy. Will more tariffs be imposed next? Will other countries retaliate? This unpredictability can cause businesses to delay investments and hiring, while consumers may start spending less. This manifests itself as increased market volatility. The tariffs also hit cryptocurrencies, but the market recovered after a few days, reflecting the volatile and responsive nature of cryptocurrencies during times of global uncertainty. When uncertainty rises - such as a sudden escalation in global trade tensions - investors tend to play it safe. This means investors withdraw from more volatile assets, including cryptocurrencies, and hold assets that are seen as safer, such as cash or bonds. This is a classic "risk-off" strategy. But cryptocurrencies will not remain depressed for long. For many investors, despite their volatility, cryptocurrencies are also increasingly seen as a valuable hedge that is not affected by any government or policy decision.
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