24/7 Blockchain industry dynamics and breaking crypto news
Key overnight developments on July 7 include Donald Trump endorsing cryptocurrency, with his family entities acquiring 500 BTC. Corporate moves involve Microsoft's reported layoffs and Riot Platforms' BTC deposit. A major security breach hit BonkDAO, causing significant losses and prompting Upbit to suspend BONK transactions.
Read MoreA US federal judge has reinstated common law fraud claims against Barry Silbert and Digital Currency Group in the Genesis Yield case. The ruling allows key fraud allegations—that investors were misled about financial health before withdrawals halted—to proceed. Some state claims were stayed or dismissed.
Read MoreOnchain data reveals that stablecoin issuer Circle minted an additional 250 million USDC on the Solana blockchain on July 7th. This continues a significant expansion trend in 2024, bringing the total new USDC minted on Solana this year to over 64.7 billion, highlighting the chain's growing role in stablecoin and DeFi activity.
Read MorePlans for a U.S. strategic Bitcoin reserve face legal and jurisdictional hurdles. Debate centers on whether Treasury or Commerce should manage it, while Bitcoin’s volatility raises questions about long-term holding. The White House says it will proceed, and bipartisan bills in Congress seek to codify the effort.
Read MoreA hedge fund led by former OpenAI researchers, Situational Awareness, alongside UK investment giant Baillie Gifford, is set to subscribe to approximately $7 billion worth of shares in SK Hynix's Nasdaq IPO. This move signals strong institutional confidence in the semiconductor memory leader's public market return.
Read MoreIsraeli PM Netanyahu reportedly called President Trump to voice concerns over Turkish President Erdogan's rhetoric, seeking U.S. restraint ahead of the NATO summit. Netanyahu also urged halting F-35 sales to Turkey, citing regional stability risks. The White House is weighing its response amid ongoing S-400 tensions.
Read MoreHedge funds have amassed their largest bearish bets on the yen since 2007, pushing the currency to multi-decade lows. Japan's finance minister has reiterated readiness to intervene, as the widening US-Japan yield gap continues to pressure the currency despite recent BOJ policy shifts.
Read MoreSamsung Electronics forecasts an 18-fold year-on-year surge in Q2 operating profit to 89.4 trillion won, far exceeding market expectations. This dramatic growth is driven by a strong recovery in the memory chip market and sustained demand from the AI sector, signaling a robust turnaround for the tech giant.
Read MoreAs the U.S. Q2 earnings season approaches, markets anticipate solid overall corporate performance. However, persistently high oil prices are emerging as a key concern, with investors scrutinizing their impact on costs, margins, and pricing power. Analysts note inflationary effects lag, limiting the Fed's near-term policy flexibility.
Read MoreRussian Deputy Foreign Minister Sergei Ryabkov stated that despite shifting U.S. stances, Moscow will not cut off contact with Washington on Ukraine. Responding to Trump's claim of a quick resolution, he indicated that progress is possible if the U.S. acts on Russia's proposals, highlighting the ongoing, tense diplomatic engagement.
Read MoreThe U.S. Dollar Index closed slightly higher, up 0.01% at 100.853. Markets remain in a tight range with a lack of clear direction, as traders await upcoming economic data and central bank signals for the next catalyst.
Read MoreElon Musk's artificial intelligence company, xAI, has rebranded its official social media account to SpaceXAI. This move sparks industry speculation about a deeper integration with SpaceX or a prelude to a major new product launch, marking a significant evolution in Musk's AI strategy.
Read MoreEthereum has broken through the $1800 level, currently trading at $1803.77 with a 24-hour gain of 1.86%. Heightened market volatility underscores the need for cautious risk management strategies at this juncture.
Read MoreBitcoin price has surged past $64,000, reaching $64,081.64 with a 24-hour gain of 2.34%. Market volatility has intensified significantly, requiring investors to implement prudent risk management strategies.
Read MoreFederal Reserve Governor Christopher Waller stated the central bank will not keep interest rates artificially low to help finance the U.S. government's budget deficit, asserting policy independence. He also addressed inflation targeting, cautioning that changing the goal now would undermine credibility while reaffirming commitment to the 2% target.
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