Author: TechFlow
Market Dynamics Yesterday
US Initial Jobless Claims for the Week Ending July 26 at 218,000, June Core PCE Price Index Annual Rate at 2.8%
According to Jin10 data, US initial jobless claims for the week ending July 26 were 218,000, with expectations of 224,000 and the previous value at 217,000.
The US June core PCE price index annual rate was 2.8%. The expectation was 2.7%, with the previous value also at 2.7%.
Trump Confirms Tariff Rates for Multiple Trading Partners Ranging from 10% to 41%
According to Jin10 data, US President Trump signed an executive order determining the "reciprocal tariff" rates for multiple countries and regions, with specific rates ranging from 10% to 41%.
US Treasury Secretary Bezos: Will Interview Federal Reserve Personnel
According to Jin10 data, US Treasury Secretary Bezos stated uncertainty about the reasons for not lowering interest rates. He will create a list of good candidates for Federal Reserve chair. Two seats on the Federal Reserve Committee will be vacant. He will interview Federal Reserve personnel and is expected to announce Federal Reserve nominations by the end of the year.
US SEC Announces Launch of "Project Crypto" Plan, Covering Tokenization Support, Securities and Non-Securities Coexistence Trading, etc.
According to the SEC website, Chairman Paul S. Atkins delivered a speech in Washington on July 31, 2025, announcing the launch of the SEC's comprehensive reform plan "Project Crypto". The plan covers multiple directions including crypto asset classification and issuance, tokenization support, custody and trading rule revisions, securities and non-securities coexistence trading, super-app platform access, DeFi compliance paths, and innovation exemption mechanisms, aiming to establish an institutional foundation for the US to become a global crypto capital center.
Ethereum Foundation Releases "Lean Ethereum" 10-Year Vision: 10,000 Transactions per Second, 100% Uptime
According to The Block, Ethereum Foundation (EF) senior researcher Justin Drake released a 10-year "Lean Ethereum" development vision. The plan's main objectives include expanding base layer transactions per second (TPS) to 10,000, layer-2 network TPS to 1 million, while maintaining decentralization and 100% uptime.
Drake stated that Ethereum will undergo major upgrades in consensus, data, and execution layers, including upgrading the beacon chain to version 2.0, introducing post-quantum era Block 2.0, and potentially building EVM 2.0 based on the open-source RISC-V instruction set. In terms of cryptography, the system will completely rely on hash-based signatures, hash root data commitments, and native hash zero-knowledge virtual machines to achieve quantum computing resistance.
Pump.fun Registers fee.pump.fun Subdomain, Potentially Hinting at Fee Dashboard or Volume-Based Incentive Plan
According to Bwenews, Pump.fun recently registered the fee.pump.fun subdomain, potentially hinting at an upcoming fee dashboard or volume-based incentive plan.
Visa Adds Support for Stellar and Avalanche and Integrates EURC Euro Stablecoin
According to Businesswire, payment giant Visa's settlement platform is adding support for two USD stablecoins, two blockchains, and the EURC Euro stablecoin, including:
1. Through a partnership with Paxos, Visa will be able to support Global Dollar (USDG) and PayPal USD (PYUSD);
2. In addition to already supporting Ethereum and Solana blockchains, Visa announced new support for Stellar and Avalanche;
3. Visa has integrated Circle's EURC Euro stablecoin.
Tether Q2 Financial Report: US Treasury Holdings Exceed $127 Billion, Quarterly Net Profit of $4.9 Billion
Tether released its 2025 second-quarter financial report. The report shows that as of June 30, 2025, Tether (USD₮) circulation exceeded $157 billion, increasing by $20 billion year-to-date.
The financial report indicates that Tether holds a total of $127 billion in US Treasuries, with $105.5 billion held directly and $21.3 billion held indirectly, an increase of approximately $8 billion from the first quarter. The company achieved a net profit of $4.9 billion in the second quarter, with total profits of $5.7 billion in the first half of 2025, including $3.1 billion in recurring profits.
US-Listed Company Mill City Completes $450 Million Private Placement, Acquired 76.3 Million SUI Tokens
According to The Block, after completing a $450 million private placement, US-listed company Mill City Ventures has officially established its SUI token reserve fund. The company currently holds a total of 76,271,187 SUI tokens, with an average purchase price of $3.6389 per token, all acquired through over-the-counter trading agreements with the Sui Foundation.
Mill City stated it will continue to purchase SUI in the open market and plans to use approximately 98% of its private placement net proceeds for SUI token acquisition and reserve management.
Cathay Securities International Issues First Public Digital Native Bond for Chinese Securities Firm
According to the official announcement, Cathay Securities International (1788.HK) recently successfully issued its first public digital native bond for a Chinese securities firm. The bond is denominated in US dollars, with an issuance size not exceeding $300 million and a 3-year term. The issuance used a direct issuance structure and was completed through HSBC's "Orion" digital asset platform. Cathay Securities International served as both the global coordinator and settlement bank in this issuance.
The digital bond was issued based on blockchain technology, featuring characteristics such as digitization, programmability, and automatic execution.
Sinolink Worldwide Proposes Renaming to Z Fin Limited, Focusing on Web3 Domain
According to the official announcement, Sinolink Worldwide Holdings Limited announced plans to change its company name to "Z Fin Limited" to reflect its strategic expansion into the financial technology field. The company has already positioned itself in the financial technology domain through investments in ZA Online Property Insurance (06060.HK) and the joint venture ZA Global Technology (International) Group. The company stated it will continue to explore development opportunities in financial technology, focusing on crypto assets, real-world asset tokenization (RWA), Web3, and stablecoins. This move aligns with Hong Kong's policy direction of becoming an Asian crypto and digital asset center.
Market Dynamics
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