Trump's poll approval rating rises, Trump again calls on Powell to cut interest rates

Headline

▌Trump's approval rating rises in polls

According to a Reuters/Ipsos poll: Trump's approval rating has risen to 44%, 2 percentage points higher than the poll in late April. 59% of respondents believe that this year's economic recession will be blamed on Trump, while 37% of respondents blame former US President Biden.

▌Trump calls on Powell to cut interest rates again

US President Trump posted on "real social" that there is no inflation, and the prices of gasoline, energy, groceries and almost everything else are falling! The Federal Reserve must lower interest rates like Europe and China. "Mr. Too Late" Powell, why are you still hesitating? It's not fair to the United States, which is preparing to prosper. Let everything take its course, it will be a beautiful thing!

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $104,043, with a daily increase or decrease of +1.5%;

ETH's latest transaction price is $2,686.10, with a daily increase or decrease of +8.4%;

BNB's latest transaction price is $664.38, with a daily increase or decrease of +1.0%;

SOL's latest transaction price is $183.62, with a daily increase or decrease of +5.8%；

DOGE's latest transaction price is 0.2403 US dollars, with a daily increase or decrease of +5.1%；

XPR's latest transaction price is 2.58 US dollars, with a daily increase or decrease of +2.5%.

Policy

▌The U.S. Securities and Exchange Commission (SEC) on Tuesday postponed its decision on whether to allow physical redemptions of BlackRock's Bitcoin ETF and began soliciting public comments. The SEC said: "The Commission has initiated a review process under Section 19(b)(2)(B) of the Securities Exchange Act to determine whether to approve or disapprove the proposed rule change." Previously, the SEC preferred a cash model, which would sell Bitcoin immediately after it was removed from storage and return the cash to investors. If physical redemptions are approved, "ETFs may be more efficient in trading," said James Seyffart, an analyst at Bloomberg. In addition, the SEC has also postponed its review of Grayscale Litecoin Trust, Solana Trust and 21Shares Dogecoin ETF, and also solicited public comments.

Blockchain Applications

▌Sonic Launches Native USDC and CCTP V2 to Improve Cross-Chain Performance and Institutional Support

Sonic announced that native USDC and CCTP V2 are now online, completing the upgrade from Bridged USDC Standard to the native version. The upgrade "improves network security, improves liquidity, enables seamless cross-chain USDC transfers, opens centralized exchange support, and provides institutional-level deposit/withdrawal channels." In addition, "Bridged USDC has been upgraded to native USDC in situ, and the contract address has not changed," and users and developers "do not need to do anything." Binance has integrated USDC on Sonic, and other CEXs will follow in the near future. CCTP V2 supports "nearly real-time cross-chain transfers of USDC."

Cryptocurrency

▌Coinbase invests in Canadian stablecoin issuer Stablecorp

Coinbase recently invested in Canadian stablecoin issuer Stablecorp to expand access to Canadian dollar tokenization. In an exclusive interview with Cointelegraph, Coinbase Canada CEO Lucas Matheson said that the investment amount was not disclosed, but the company will help promote Stablecorp's fiat-backed stablecoin QCAD. He emphasized that stablecoins are particularly important for Canada because Canada lacks a peer-to-peer payment network and wire transfers cost up to $45 and require 45 minutes of paperwork. He also said that the use of stablecoins can achieve 24/7, instant, borderless payments. Although the current stablecoin market is dominated by US dollar-backed stablecoins, Canada still faces the problem of the government not lifting securities regulatory barriers to stablecoins, and Coinbase calls on the government to develop a national strategy for digital assets.

▌sns.sol Opens SNS Token Airdrop

Solana domain name service sns.sol (formerly Bonfida) said its token generation event is live, with 40% of the supply earmarked for “early and new supporters.” Users need to claim SNS tokens through wallets holding “.sol domains” until August 11. The newly launched SNS token is intended to replace the FIDA token previously issued by Bonafida. Bonafida this month called FIDA’s token economic model “unsustainable” and unable to meet the needs of .sol holders.  

Earlier this month, the project said that 20% of the total supply had been “claimed” and that it had “a new team, a new mission, and a clear focus.” The announcement came on the same day that Bonafida claimed FIDA’s token economics were unsustainable.

▌Abraxas Capital has purchased nearly $500 million worth of Ethereum in six days

As of 01:10 am today, London-based asset management company Abraxas Capital has purchased nearly $500 million worth of Ethereum in less than a week. At 01:10 am, Lookonchain posted on the X platform: "In the past 12 hours, Abraxas Capital has purchased another 33,482 ETH (worth $84.7 million), bringing its total purchases in the past six days to 211,030 ETH (worth $477.6 million)." Yesterday, news broke that Abraxas Capital first borrowed 240 million USDT from Aave and then deposited it in Binance.  

Min Jung, an analyst at Presto Research, pointed out that the ETH/BTC exchange rate has fallen nearly 40% to 0.02 this year, and the current price has attracted buying intervention. Nick Ruck, director of research at LVRG, believes that the Pectra upgrade and macro benefits have jointly driven market sentiment to a positive turn. He said: "As altcoins break away from the downward trend, investors are re-evaluating the value of cryptocurrencies as a hedging tool." CoinShares Q1 net profit fell 42.2% year-on-year, CEO said the global economy is undergoing a "comprehensive transformation" CoinShares said its net profit fell to $24 million in the first quarter of 2025, down 42.2% from the same period last year. "What we are witnessing is not simply market volatility - it is a comprehensive transformation of the global economic order," said Jean-Marie Mognetti, the company's CEO, in a letter to shareholders. Ethereum's poor performance led to an outflow of $23 million from CoinShares Physical Staked Ethereum ETP (ETHE). “As a result of the broader market correction – including a 12.1% drop in the price of Bitcoin – total assets under management (AuM) fell 10.7% to $1.52 billion at the end of the first quarter.” ▌ Thailand to issue $150 million in “digital investment tokens” G-Tokens, aiming for higher returns than bank deposits The Ministry of Finance plans to issue a total of 5 billion baht (about $150 million) of “digital investment tokens” G-Tokens within two months, Finance Minister Pichai Chunhavajira said. The tokens “aim to provide investors with higher returns than bank deposits” and will be “used to raise funds from the public under the current budget borrowing plan”, but “will not be debt instruments”. The move has the support of the cabinet and comes after former Prime Minister Thaksin Shinawatra suggested “issuing a stablecoin backed by government bonds”.

▌Twenty One Increases Holdings of 4,812 Bitcoins at an Average Price of $95,300

The Bitcoin-focused public company announced the purchase of 4,812 BTC ($458.7 million) through TETHER at an average price of $95,300.  

Investment company Cantor Equity Partners previously announced plans to establish "Twenty One" through a SPAC merger. This will become a Bitcoin-focused public company with an initial reserve of more than 42,000 Bitcoins - worth more than $3.9 billion at current prices, with financial support from Tether, Bitfinex, and investment companies Cantor Fitzgerald and SoftBank Group. The company, headed by Brandon Lutnick, the son of the U.S. Secretary of Commerce, plans to not only hoard Bitcoin (allowing investors to gain exposure to related assets without actually holding them), but will also provide Bitcoin-related financial services and create a cryptocurrency content and media platform.

Important Economic Dynamics

▌Goldman Sachs: The dollar is expected to continue to fall against Asian currencies

Goldman Sachs said that after the recent progress in trade negotiations, the likely direction of the dollar/Asian currency pair is still downward. It said that despite the recent progress in trade negotiations between China and the United States, the main themes of the market have not changed. These themes are: the trend of gradually diversifying investments from US assets should continue; Asian exporters should continue to convert US dollars into local currencies; if the Asian region enters into trade negotiations with the United States, it may be more difficult for its currency to depreciate. (Jinshi)

▌Trump plans to revoke the "AI technology proliferation control rules" during the Biden period

The Trump administration plans to comprehensively revise the export control regulations for artificial intelligence semiconductors and abolish the regulatory framework that triggered strong opposition from US companies and allies such as Nvidia (NVDA.O) and Oracle (ORCL.N) during the Biden period. The U.S. Department of Commerce announced on Tuesday that it would revoke the "AI Technology Proliferation Control Rules" originally scheduled to take effect on May 15. The rules were introduced by former U.S. President Biden and divided chip importing countries into three levels. According to people familiar with the matter, the new government is drafting alternatives and may turn to negotiating and signing bilateral agreements with each country one by one.

▌Blinken: Trump only respects hard-line leaders

Former U.S. Secretary of State Blinken said in an interview with The Times that the current President Trump only respects hard-line leaders. He also said that Trump now believes that Europe is weak and disunited, and urged European leaders to bravely confront the White House. Blinken said: "In my opinion, when Trump looks at the world, he focuses on several aspects. From his perspective, he focuses on strong leaders or strong countries. To be honest, when he looks at Europe, I think he sees a weak, disunited continent, a weaker actor. So I think part of the challenge for Europe to get the attention of President Trump is to show greater cohesion, greater unity and clearer common goals, because then Europe will be taken more seriously."

Golden Encyclopedia

▌What is General Artificial Intelligence

Vs. Narrow Artificial Intelligence Unlike artificial general intelligence (ANI), which uses artificial intelligence to solve a single problem, general artificial intelligence (AGI) refers to artificial intelligence that can understand, learn, and apply knowledge in a way that is indistinguishable from human cognition. AGI is still in the theoretical stage, but the prospect of artificial intelligence being able to fully replace human input and judgment has naturally attracted widespread attention, and researchers, technical experts, and scholars are working hard to turn the concept of AGI into reality.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish correct investment concepts and be sure to increase risk awareness.