Today’s Macro Calendar
US Unemployment Benefits Claims were announced at 235K.
Expectation: 226K
Previous: 224K
MetaMask Strengthens Its Ecosystem
MetaMask is preparing to launch the mUSD stablecoin, issued by Bridge, owned by Stripe, on Ethereum and Linea. According to statements from MetaMask leadership, mUSD will not directly offer yield to users. However, indirect yield may be possible through staking or providing liquidity on DeFi protocols (e.g., Aave) via Bridge’s infrastructure.
MetaMask aims to position mUSD as the primary liquidity layer for its over 30 million monthly active users.
Aave’s Multi-Chain Strategy
Aave has launched its first non-EVM deployment on Aptos as part of its multi-chain strategy. Previously, Aave was active on EVM-based networks such as Ethereum, Arbitrum, and Polygon. This move is expected to enhance Aave’s accessibility by expanding its DeFi protocol to non-EVM blockchains, reach new user bases, and potentially benefit from Aptos’ growing ecosystem.
Trade Agreement between the US and the EU
The US and the EU have released a joint statement clarifying the details of the trade agreement reached last month. According to the agreement
Customs Tariffs: The US will impose a 15% customs duty on most imports from the EU (automobiles, pharmaceuticals, semiconductors, lumber). The US will reduce automotive tariffs when the EU enacts matching tariff reduction legislation. Starting September 1, the US will apply only MFN tariffs on EU aircraft/aircraft parts, generics, chemical precursors, and scarce natural resources. The EU will eliminate all tariffs on US industrial products and provide preferential access for US seafood/agricultural products.
Energy and Technology Purchases: The EU will purchase $750 billion worth of LNG, oil, and nuclear products from the US. The EU will purchase at least $40 billion worth of US artificial intelligence chips.
Investment and Cooperation: The EU commits to investing $600 billion in US strategic sectors by 2028. The parties will negotiate rules of origin to ensure that benefits remain bilateral. Cooperation on protecting the steel and aluminum markets is being explored. There is a commitment to remove digital trade barriers; the EU has agreed not to impose network usage fees. Measures to ensure secure supply chains are being evaluated, including tariff quota solutions.
Bitcoin Purchase Plans
Hong Kong-based Ming Shing Group announced plans to purchase 4,250 Bitcoins for approximately $500 million. This purchase is a transformation move by the company to move away from its traditional business model and include digital assets in its treasury strategy. CEO Wenjin Li justified this step with the goal of “capturing Bitcoin’s potential value increase and increasing company assets.”
Kanye West’s Memecoin
American rapper Kanye West launched a memecoin called $YZY on the Solana network. The token quickly reached a market value of $3 billion before plummeting by 60% to $1.2 billion. Additionally, over 90% of the total supply is held in just six wallets.
