14:53
Bloomberg: The Trump Family Is Monetizing Its Fame, Political Influence, and Power at an Unprecedented Pace
On July 2, Bloomberg published a feature article titled "Trump’s Crypto Fortune: A Profitable Business Under the Political Spotlight," directly pointing out that Trump and his family are monetizing their reputation, political influence, and power at an unprecedented pace. According to Bloomberg, compared to real estate development projects that require years of planning, the Trump family has always excelled at quickly cashing in through brand licensing—from real estate to perfumes and mattresses. The cryptocurrency sector has now become a supercharged accelerator for this "naming economy." With restrictions on foreign transactions expected to ease during a potential second term, crypto ventures have become a new engine for the family's wealth growth. According to the first assessment by the Bloomberg Billionaires Index, crypto projects such as World Liberty Financial and Trump-themed meme coins have increased the family's fortune by at least $620 million in just a few months. Reportedly, the World Liberty Financial platform issued branded tokens and the stablecoin USD1, achieving $550 million in token sales in March, with the Trump family receiving $390 million. The family also holds 22.5 billion non-circulating tokens (valued at over $2 billion based on June trading prices), and Trump-themed meme coins are 80% controlled by related parties, who have promoted them through marketing events like "Whale Holder Dinners." In addition, a trading company (spun off from a Trump-affiliated investment bank) is planning to go public, potentially adding another source of crypto wealth for the family. This company, through a merger with the listed firm Hut 8, is valued at over $3 billion—even though its main assets are mining machines with a book value of just $120 million.
14:50
US House of Representatives Begins Session to Discuss the "Big and Beautiful" Bill
According to Jinse Finance, at 9:00 a.m. Eastern Time on July 2 (9:00 p.m. Beijing time), the U.S. House of Representatives began a session to discuss the Senate version of the so-called "Big and Beautiful" bill. U.S. media reported that the House would first hold a procedural vote. If the procedural vote passes, the House will then debate the bill.
14:43
BounceBit Plans to Launch Tokenized Stock Products in Q4
Odaily Planet Daily reports that BounceBit has announced the launch of its tokenized stock product in the fourth quarter, covering securities from the four major stock markets: the United States, Europe, Hong Kong, and Japan. This service is built on BounceBit’s Tokenized Stock Environment (TSE), a native framework designed for issuing, pricing, and integrating securities in a permissionless market. From day one, BounceBit’s tokenized stocks will be fully integrated into the DeFi sector, including spot trading, DEX liquidity, collateral in lending protocols, applications in structured yield strategies, and restaking.