US Secretary of Commerce: August 1 is the deadline for tariffs, interest rates remain high
According to Jinshi, Secretary of Commerce Lutnick said that Fed Chairman Powell kept interest rates high and that Trump plans to implement new tariffs on August 1. It was also stated that Trump is expected to renegotiate the Mexico-Canada trade agreement.
U.S. Treasury Secretary: Dollar Coming to Blockchain
U.S. Treasury Secretary Bessant said that blockchain will form the infrastructure for the next payment system and that the U.S. dollar will take its place on-chain. Deputy Treasury Secretary Faulkender added that the GENIUS Act has provided legal clarity for stablecoins and strengthened the U.S.’s vision of becoming the global crypto capital.
US Banking Lobby Opposes Crypto Companies’ Bank License Applications
American banking and credit union groups have asked the OCC (Office of the Comptroller of the Currency) to postpone crypto companies’ bank license applications. Serious political and operational concerns were cited as the reason.
JPMorgan’s Data Pricing Plan Could Put Crypto and Fintech Startups at Risk
According to a report by
Fortune, JPMorgan Chase’s announcement that it will charge fintech companies for access to customer bank data has caused a major backlash in the crypto and fintech sectors. It is said that this could be devastating, especially for small startups and crypto platforms. It is expected that data collection companies will pass these new costs on to fintech firms and even end users.
Bitcoin Treasury Capital CEO Discovered Bitcoin in China
Bitcoin Treasury Capital CEO Christoffer De Geer shared that he discovered Bitcoin in 2013 while learning Chinese in Shanghai due to the need to transfer money. The company currently holds 156 BTC and has received approval to list on the Frankfurt Stock Exchange under the ticker symbol X4L. Additionally, it has announced the signing of a financing agreement that could reach up to 200 million Swedish kronor.
Vaultz Capital Increases Bitcoin Holdings to 70
UK-based Vaults Capital announced in an official statement that it has purchased an additional 20 BTC, bringing its total holdings to 70 BTC.
The Blockchain Group Increases Total Holdings to 1,955 BTC with 22 BTC Purchase
The publicly traded European-based The Blockchain Group purchased an additional 22 BTC for 2.2 million euros. The company’s BTC return since the beginning of the year has reached 1,373.2%.
BofA Merrill Lynch: Stablecoins Could Transform the Banking Sector Within 2-3 Years
According to Phoenix.com, BofA Merrill Lynch predicts that stablecoins could significantly disrupt traditional bank deposits and payment systems with the implementation of new regulations. It has been reported that banks are adopting stablecoin solutions, particularly in the cross-border payments sector.
2.39 billion Dollars Entered Bitcoin Spot ETFs Last Week
According to SoSoValue data, 2.39 billion dollars of net inflows were recorded in Bitcoin spot ETFs last week. BlackRock’s IBIT ETF reached the highest weekly net inflow with 2.57 billion dollars.
Record Inflows into Ethereum Spot ETFs: $2.18 Billion
Last week, $2.18 billion was invested in Ethereum spot ETFs. BlackRock’s ETHA ETF set a record with $1.76 billion in weekly net inflows, while Grayscale’s ETH ETF contributed $202 million.
