1. JD.com Denies Stablecoin Launch Rumors
JD.com (09618.HK) issued a statement debunking false claims about its subsidiary JD Coin Chain Technology launching a stablecoin. The company warned against fraudulent schemes promoting "JD Stablecoins," clarifying that no such product exists.
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2. Circle Files for National Trust Bank Charter in the U.S.
Circle (CRCL.K), issuer of the USDC stablecoin, applied to establish a national trust bank under U.S. regulatory oversight. If approved by the OCC, Circle could custody its own reserves and manage institutional crypto holdings—though it won’t accept deposits or issue loans.
👉 Explore how Circle’s move impacts stablecoin regulation
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3. U.S. Treasury Secretary: Stablecoin Bill Nearing Completion
Janet Yellen indicated that stablecoin legislation could be finalized by mid-July, potentially boosting demand for U.S. Treasury assets.
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4. Trump-Linked Bitcoin Mining Project Raises $220M
American Bitcoin, backed by Eric Trump, secured funding to expand BTC mining operations. The project plans to merge with Gryphon Digital Mining and list publicly, targeting Dubai as a new market.
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5. SEC Reviews Grayscale’s Digital Large Cap Fund ETF Conversion
The SEC acknowledged Grayscale’s amended proposal to convert its multi-crypto fund (holding BTC, ETH, XRP, SOL, ADA) into an ETF.
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6. Bitcoin Rebounds as Staking ETF Hopes Grow
QCP Capital noted BTC’s rally toward $108K, fueled by institutional inflows ($2.2B into ETFs) and optimism around staking ETFs. Ethereum and Solana also surged.
👉 Why staking ETFs could reshape crypto markets
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7. Analyst Warns of Potential BTC Drop to $92K
CryptoCapo predicts further downside, with Bitcoin possibly testing $92K–93K before stabilizing. He remains bearish on altcoins, forecasting 50–80% declines.
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8. Robinhood Expands Tokenized Stock Offerings
The platform plans to scale tokenized U.S. stocks from 200 to "thousands" by year-end, alongside launching its Layer 2 blockchain (Robinhood Chain).
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9. Connecticut Bans Bitcoin Reserves for Governments
Governor Ned Lamont signed HB7082, prohibiting state entities from holding crypto reserves and tightening regulations on digital wallet providers.
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10. USD1 Stablecoin Hits Record Trading Volume
Trump-affiliated project WLFI announced USD1’s 24-hour volume surpassed USDC ($3.37B), becoming the world’s second-most-traded stablecoin after USDT.
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FAQs
Q: What’s the status of U.S. stablecoin regulation?
A: A final bill is expected by mid-July 2025, per Treasury Secretary Yellen.
Q: How does Circle’s bank charter differ from traditional banks?
A: It allows crypto custody but doesn’t permit lending or cash deposits.
Q: Why is Bitcoin demand considered "weak" now?
A: Miner and long-term holder sell-offs exceed new buyer activity, per CryptoQuant.
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