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Bloomberg analysts Eric Balchunas and James Seyffart are expecting a wave of new cryptocurrency-based ETFs next year after leadership takes over at the SEC.Both predict that a host of new ETFs could launch including a bitcoin and ether combo ETF, Litecoin and HBAR funds, and then eventually spot funds for Solana and XRP.
Quick Take Ethereum Name Service will use Linea’s technology to develop its own Layer 2 network called Namechain.
Quick Take Polygon community members rejected a preliminary proposal to deploy over $1 billion in stablecoin from the PoS Chain bridge for yield generation. Following community feedback, Polygon acknowledged these concerns and decided not to advance the proposal but remained open to exploring innovative ideas in the future.
Quick Take Donald Trump-backed DeFi platform World Liberty Financial and Ethena are planning a “long-term collaboration” starting with implementing the yield-bearing token, sUSDe. World Liberty Financial’s governance will be asked to decide on the implementation this week.
Meme coins like Dogecoin, Shiba Inu, and Pepe show mixed performance. Bitcoin reaches a new all-time high, trading at $107,487. The market outlook for meme coins remains uncertain, with the potential for further decline.
Quick Take Exodus Movement’s stock was listed on the New York Stock Exchange sister company, NYSE American, on Wednesday. EXOD stock is up over 37% as the trading day ends.
Quick Take “We’re not allowed to own bitcoin,” Federal Reserve Chair Jerome Powell said during a news conference on Wednesday. In Congress, Sen. Cynthia Lummis, R-Wyo., has a draft bill circulating that would direct the U.S. Treasury to buy one million bitcoin over a period of five years.
- 00:04CICC: Resilient Nonfarm Payrolls Do Not Support Early Fed Rate CutsChainCatcher News, according to Jintou Data, a research report from CICC states that the US added 147,000 non-farm jobs in June, surpassing the market expectation of 110,000. The unemployment rate fell from 4.2% to 4.1%, indicating that the labor market remains resilient. Although uncertainty around tariffs has reduced labor demand, the tightening of immigration enforcement has also slowed labor supply, which has curbed the rise in the unemployment rate. In addition, there may be a skills mismatch in the labor market: on one hand, government layoffs and the rapid development of artificial intelligence have led to a surplus of "white-collar" workers; on the other hand, stricter immigration policies have resulted in a persistent shortage of low-skilled workers. Under this structural mismatch, the unemployment rate may not rise significantly in the future. CICC believes that the June non-farm payroll data does not support an early rate cut by the Federal Reserve. We maintain our previous view that the next rate cut may not occur until the fourth quarter, after the price increases caused by tariffs have subsided.
- 00:04US House of Representatives Declares Mid-July as "Crypto Week" to Review Multiple Cryptocurrency BillsAccording to a report by Jinse Finance, the U.S. House leadership announced on Thursday that the week of July 14 will be designated as "Crypto Week," during which three major cryptocurrency bills will be reviewed: the GENIUS Stablecoin Act, the Digital Asset Market Structure Clarity Act, and a bill concerning Central Bank Digital Currencies (CBDC). The GENIUS Act requires stablecoins to be fully backed by U.S. dollars or highly liquid assets and mandates annual audits for large issuers. The Digital Asset Market Structure Clarity Act aims to clarify the regulatory responsibilities of the SEC and CFTC, while also requiring digital asset companies to provide retail financial disclosures and segregate company and client funds. House Speaker Mike Johnson stated that these initiatives are "decisive steps toward advancing President Trump's digital asset and cryptocurrency agenda." Previously, Trump requested that the stablecoin bill be delivered to his desk before August, and the scheduling of "Crypto Week" is expected to help lawmakers meet this deadline.
- 2025/07/03 23:38Overview of Key Overnight Developments on July 421:00-7:00 Keywords: Big and Beautiful Act, Tax Reform Bill, Trump 1. Trump: Today's data is good news, much better than expected; 2. The "Big and Beautiful" Act has passed the vote in the U.S. House of Representatives and is now awaiting the President's signature; 3. U.S. Senator Cynthia Lummis has introduced a comprehensive crypto tax reform bill; 4. U.S. Treasury Secretary: If the Federal Reserve does not cut rates, the rate cut in September may be larger; 5. Federal Reserve's Bostic: The U.S. economy may experience a longer period of high inflation; 6. Web3 gaming platform Distinct Possibility Studios has completed a $30.5 million funding round; 7. White House: Trump will sign the Big and Beautiful Act into law at 5:00 a.m. (UTC+8) on July 5.