Headlines
Trump: Senator J.D. Vance is the best choice for vice presidential nomination
Former US President Trump said Senator JD Vance is the best choice to be the vice presidential candidate.
Musk pledges $45 million per month to support Trump campaign
Musk has pledged plans to donate about $45 million per month to a new super PAC to support Trumps presidential campaign.
Regulatory trends
Bloomberg ETF Analyst: SEC Requires Ethereum ETF Issuers to Submit Final S-1 Filing on Wednesday
Eric Balchunas, Bloomberg ETF analyst, wrote on the X platform: It is reported that the SEC finally responded to the issuer today, requiring them to return the final S-1 document (including fees) on Wednesday and then apply for effectiveness after the close of Monday so that it can be issued on Tuesday, July 23.
Coinbase, Ripple, and a16z representatives to attend Republican and Democratic National Conventions
Coinbase, Ripple, and Andreessen Horowitz (a16z) plan to send delegates to the Republican National Convention (RNC) and later to the Democratic National Convention (DNC). On July 15, Politico said the companies will first make their case to GOP power brokers to support election results that produce policies that favor the industry, and emphasized the Republican Partys broad support for the crypto space. Politico emphasized the growing importance of crypto, citing Representative Dusty Johnson, who called crypto an issue that more and more people are interested in. It is understood that all three companies are members of the Fairshake Super PAC, which raised $177.9 million and spent $70.9 million during the 2024 election cycle. The super PAC aims to benefit American candidates who support cryptocurrencies regardless of their party membership.
Federal Reserve Chairman Powell said that economic growth is expected to slow this year and inflation will continue to make progress. If the Fed waits until inflation reaches 2% before cutting interest rates, it will wait too long.
Industry News
According to Farside Investor monitoring, ARKB had a net inflow of $117 million, BITB had a net inflow of $15.2 million, EZBC had a net inflow of $3.7 million, and HOLD had a net inflow of $3.6 million. The inflows of GBTC and DEFI were zero.
Tether Treasury mints 1 billion new USDT
According to WhaleAlert monitoring, at around 04:26 Beijing time today, Tether Treasury minted 1,000,000,000 new USDT.
Investment and Financing
Stablecoin developer Bima Labs completes $2.25 million seed round led by Portal Ventures
Stablecoin developer Bima Labs has raised $2.25 million in a seed round led by Portal Ventures, with participation from Draper Goren Blockchain, Sats Ventures, Luxor Technology, CoreDAO, Halo Capital, Ankr’s Ryan Fang, Chorus One’s Brian Crain, Sei Labs’ Jeffrey Feng, and Berachain’s Smokey.
Bima has developed USBD, a Bitcoin-backed stablecoin that can be minted by providing Bitcoin liquidity pledge and re-pledge tokens as collateral. Bima said it will accept collateral from multiple blockchains, including Bitcoin, Bitcoin Scaling Network, Ethereum Virtual Machine (EVM) compatible networks, and Solana.
Stablecoin payment company Caliza completes $8.5 million financing, led by Initialized
Caliza, a stablecoin payment fintech company, announced the completion of a $8.5 million financing led by Initialized. Caliza provides a crypto stablecoin payment system using USDC, and uses the API and front-end payment system of the existing real-time payment network to achieve instant transfers, and provides digital dollar account services for international merchants.
Project News
Sanctum founder: Launchpad, Profiles, and Pay will be built after TGE
Sanctum founder FP Lee posted on the X platform that three major products will be built after CLOUD TGE: Sanctum Launchpad, an on-chain economic startup platform, Sanctum Profiles (V2 version), a Solana ecosystem social layer, and Sanctum Pay, a debit card based on LST.
According to official news, Alchemy Pay announced the update of its crypto payment business, which now supports users to connect their exchanges and brokerage accounts (such as Coinbase, Kraken and Robinhood) and use their cryptocurrency balances to pay for orders. This also enables merchants to accept cryptocurrency payments through these methods. Currently, 11 exchanges are supported, including Kraken, KuCoin, Paxos, OKX, Bybit, Coinbase, Coinbase Prime, Robinhood, Binance, BinanceUS and Huobi.
Polyhedra Network announced the launch of Staking Program V2 on the X platform. The first batch of rewards will be issued on July 18. It is reported that participants in staking can obtain ZKJ tokens and participate in the governance of the Polyhedra network.
