News linked to both this project and an event.
According to a post by a16z crypto researcher Robert Hackett and data advisor Ryan Holloway, the tokenized stock market is experiencing explosive growth. As of June 2026, the total market capitalization of tokenized stocks reached approximately $1.7 billion, representing a more than fivefold increase from $329 million a year earlier, making it one of the fastest-growing categories among tokenized assets. On-chain data shows that monthly transfer volume surged from $53 million last June to $9.22 billion this June, a year-over-year increase of more than 170 times. The market structure has also changed significantly: the proportion of crypto-related products dropped from 79% to 21%; the AI and chip category jumped from nearly zero to a market share of 15.5%; tech giants rose from 0.6% to 10.6%; and ETFs and indices increased from 4.5% to 17.3%. At the institutional level, DTCC has completed the first live trades of tokenized Treasury bonds and stocks on Digital Asset's Canton network, with full services planned to launch in October, which will open access for Wall Street to approximately $114 trillion in DTC custodied assets. Meanwhile, Robinhood has launched its own chain, NYSE's parent company announced a joint venture with OKX (pending regulatory approval), and Coinbase and Binance have also sequentially launched offerings for non-U.S. users.
: U.S. prediction market platform Kalshi experienced explosive growth during the 2026 World Cup, with platform trading volume soaring from $6.67 billion on June 22 to $24.2 billion on July 14. The single "World Cup Champion" prediction market saw trading volume exceed $1.2 billion. Kalshi stated that its growth reflects a new trend in the AI era: as the volume of AI-generated content increases substantially, authentic, real-time, and non-replicable human interaction scenarios are becoming scarcer, positioning prediction markets as a novel tool for observing public sentiment and collective judgment.Meanwhile, Kalshi is seeking to transform from a sports prediction platform into the next-generation financial trading infrastructure. The company currently holds Designated Contract Market (DCM) status recognized by the U.S. Commodity Futures Trading Commission (CFTC) and plans to expand into more prediction areas including sports, geopolitics, culture, and economics. (Fortune)
Ansem posted on platform X, stating that the current market remains in a stage with high growth potential. Bitcoin (BTC) and Solana (SOL) still have considerable room to rise from their all-time highs, with SOL down approximately 75% from its peak and BTC down about 50%. Compared to previous cycles, this cycle has more mature user experiences and infrastructure, including improved mobile trading experiences, lower barriers for wallet onboarding, and enhanced cross-chain capabilities, making it easier for new users without prior crypto experience to enter the market.Ansem pointed out that a growing number of high-quality developers are aligning incentives through a "token plus equity" model, offering investors exposure to a wider range of industry sectors. Meanwhile, institutional interest in Real World Assets (RWA), attention to the regulatory framework related to the US CLARITY Act, and the entry of major tech-finance companies like Stripe and Robinhood into the crypto space are all boosting market confidence. The wealth effect generated by AI stock performance in recent years, coupled with the wealth-building cases of Meme coins in previous crypto cycles, are reinforcing the market's perception of high-yield trading opportunities. While some earlier Meme coins grew from zero to tens of billions of dollars in market capitalization, the circulating market cap of current popular Meme projects like $ANSEM is still under $100 million, attracting speculative capital.This cycle features dual market drivers: institutional narratives and high-risk speculative opportunities. On one hand, mature financial applications like perpetual contracts and RWA will attract more professional capital; on the other hand, trading in Meme coins and low-market-cap tokens will continue to attract significant retail participation.Ansem stated that with more teams launching user-friendly mobile crypto applications that lower the barrier to entry, this cycle could become the one with the largest scale of retail participation in crypto history.
Crypto journalist Eleanor Terrett posted on X, stating that Republican members of the U.S. House Financial Services Committee will hold a live hearing in New York at 10:00 AM Eastern Time, focusing on how the CLARITY Act can drive innovation in the digital asset sector.This hearing is an informational session aimed at gathering industry opinions and discussing policy implications, and it will not affect the Senate's current legislative process for the bill.Meanwhile, the updated legislative text of the CLARITY Act has still not been released. Previously, U.S. President Donald Trump met with Republican senators regarding related ethical provisions, but as of now, the new bill text has not been officially published.Eleanor Terrett cited industry sources, noting that crypto industry leaders currently expect the release of the updated text to be delayed until next week.Market participants are closely watching the CLARITY Act, which serves as a key component of the U.S. crypto market structure regulatory framework. Its final text and pace of advancement will influence the future compliance pathways for digital asset companies, trading platforms, and institutional investors.
According to the latest poll released by CNBC, American pessimism over the economic outlook has intensified, with 61% of respondents expressing pessimism about the current economic conditions and future trajectory — the highest level since December 2023. Only about a quarter of respondents hold an optimistic view. The survey shows that a majority attribute economic pressures to President Trump's economic policies. Regarding Trump's handling of the economy, 60% of respondents expressed dissatisfaction, while only 38% approved — one of the lowest ratings on this metric in his political career.Micah Roberts, a partner at Public Opinion Strategies, stated that the overall mood among voters is currently low, with those expecting the situation to worsen outnumbering those expecting improvement by 41% to 29%. Market confidence is entering a trough phase ahead of the midterm election cycle.Meanwhile, rising living costs are forcing American consumers to cut spending. The survey found that 47% of respondents are reducing spending on necessities such as food and healthcare — up 6 percentage points from April. About two-thirds of consumers are cutting back on non-essential spending like dining out.A separate study conducted by Bain & Company in collaboration with NielsenIQ showed that U.S. grocery purchases in June fell by 1.8% year-over-year, a sharp reversal from the 0.1% growth recorded during the same period last year.Kurt Grichel, head of Bain's U.S. retail practice, noted that a typical grocery run that cost around $300 in 2019 may now require $400. The "sticker shock" from price increases is now affecting a broader range of consumers, including higher-income households.Analysts point out that high food prices, elevated fuel costs, and the Trump administration's cuts to certain social welfare programs are collectively increasing pressure on consumers. The survey found that four out of five U.S. consumers are trying to reduce spending, with more than a quarter actively cutting back on food purchases. Among them, over half have switched to cheaper brands, while 49% are buying fewer items. (ibtimes)
According to Bits.media, Anatoly Aksakov, Chairman of the Russian State Duma Committee on the Financial Market, stated that the second and third readings of the criminal liability bill targeting illegal cryptocurrency transactions will be postponed for deliberation by the new State Duma. This is because the Duma's spring session will end on July 27, August to September is the election recess, and Duma election voting will conclude on September 20, therefore deliberation will resume at the earliest during the autumn session. The bill completed its first reading in early July, stipulating a maximum prison term of 7 years for organizing illegal cryptocurrency circulation, with relevant penalty clauses scheduled to take effect officially from July 1, 2027. Under the current regulatory framework, Russian citizens can only buy and sell cryptocurrencies through institutions holding licenses from the Central Bank of Russia, while P2P and over-the-counter transactions may face criminal prosecution. Aksakov denied concerns that the bill would affect crypto exchangers and P2P users, calling such concerns "unfounded". Meanwhile, another Russian government law strengthening national control over cryptocurrencies, the "Law on Digital Currency and Digital Rights," has also been delayed, with the original schedules for effect in July and September both missed.
According to Reuters, the PayPal board believes the $53 billion acquisition offer ($60.50 per share) jointly proposed by Stripe and private equity firm Advent International undervalues the company, and has concerns regarding regulatory approval risks and financing certainty; it has not yet formally responded to the proposal. The PayPal board believes that if management successfully executes the existing transformation strategy, the company's future potential value will far exceed the current offer. Meanwhile, the acquirers have obtained approximately $50 billion in financing support from JPMorgan Chase and Morgan Stanley, with Stripe and Advent contributing a combined $17 billion in equity. Reportedly, if the parties encounter antitrust hurdles, they may consider divesting assets such as PayPal's Braintree to Advent. Despite differences, Stripe and Advent are still regarded as the most serious potential buyers at present, and negotiations are expected to continue for some time. PayPal will release its quarterly earnings report on July 28, and the market will closely monitor the growth of its core checkout business.
: India imposes a uniform 30% tax on gains from virtual digital assets, along with an additional 1% tax deducted at source on the transaction amount. Around 54 crypto service providers in the country have registered with the Financial Intelligence Unit, serving 39 million verified users who collectively hold approximately $2.1 billion in assets. The Reserve Bank of India (RBI) has repeatedly stated to parliament its preference for a restrictive policy towards private cryptocurrencies and stablecoins, urging banks to avoid related exposure to protect financial stability. The long-promised crypto bill has yet to be finalized. Meanwhile, Indian government agencies are utilizing permissioned blockchains in non-trading scenarios. AIIMS Delhi uses blockchain to manage teacher recruitment records, the Cotton Corporation of India tracks cotton bales via a blockchain-based identification system, and the aviation regulator DGCA is building a digital service platform linked to blockchain.
Odaily reports, as the value of the artificial intelligence industry rapidly increases, political and tech circles in the United States have begun discussing how to share the immense wealth generated by AI with the public. A series of proposals all point in the same direction: having the government or public institutions hold equity in AI companies.Recently, Sam Altman discussed the possibility of granting the U.S. government or other public entities partial ownership in OpenAI. Meanwhile, the U.S. government already holds approximately 10% of Intel's shares, and it has indicated it may receive a certain percentage of revenue from NVIDIA's chip sales to China.U.S. Senator Bernie Sanders proposed that major AI laboratories contribute half of their shares to a new sovereign wealth fund, allowing the public to share in the growth dividends of the AI industry.Observers suggest that these plans essentially aim to redistribute some of the economic benefits from AI development back to society. However, critics point out that most current proposals boil down to one model: having the government hold equity in AI companies.Supporters argue that AI could become the most significant productivity transformation in the coming decades, and involving the government in revenue distribution could alleviate wealth concentration. Opponents, however, worry that direct government ownership of stakes in tech companies could impact market competition, corporate governance, and innovation incentives.As the valuation of the AI industry continues to rise, how to distribute the economic benefits generated by artificial intelligence is becoming a core topic of debate among U.S. policymakers and the tech industry. (The Information)
: Industry insiders indicate that after the US Senate reconvenes, it will enter a critical window of approximately four weeks, determining whether the Clarity Act can pass this year. The bill needs to complete the finalized text, Senate debate, and voting before the August recess, and secure at least 60 votes of support in the Senate. Current negotiation focuses include whether to retain the exemption clause for non-custodial developers within the "Blockchain Regulatory Certainty Act," and establishing an "ethics framework" for official conflicts of interest regarding President Trump's cryptocurrency business interests. Meanwhile, the passing of Senator Lindsey Graham and the absence of Mitch McConnell have weakened Republican voting power, increasing the importance of securing support from Democratic senators.
: Following a meeting with Islamic scholar Mufti Taqi Usmani, Bilal bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority, stated that stablecoins, tokenized RWAs, and other blockchain products should undergo separate technical and Sharia assessments and should not be treated as a single category. Previously, scholars including Usmani issued a fatwa determining that USDT and other cryptocurrencies do not constitute wealth recognized under Islamic Sharia law, rendering transactions involving the purchase of physical goods or digital services with them invalid. In March of this year, Pakistan passed the Virtual Assets Act, which requires exchanges, custodians, and token issuers to ensure their operations comply with Sharia law under the guidance of an Islamic finance scholars committee. Meanwhile, the country is advancing plans for a sovereign stablecoin, the tokenization of national assets, and the licensing of crypto trading platforms.
According to The Block, the U.S. Supreme Court ruled 6-3 in favor of Trump, expanding the president's power to remove heads of independent federal agencies (excluding the Federal Reserve). The case originated from Trump's dismissal of Democratic FTC Commissioner Rebecca Slaughter in 2025. As the ruling takes effect, the SEC and CFTC are in a new cycle of crypto regulation—the SEC currently has only three Republican commissioners, while CFTC Chairman Michael Selig is the agency's sole commissioner. Former regulatory officials warned that insufficient commissioner seats will undermine the quality of rulemaking and continuity across administrations, stating, "Fewer people participating in discussions may lead to suboptimal outcomes." Meanwhile, Congress is deliberating landmark legislation to reallocate digital asset regulatory authority between the SEC and CFTC and has urged Trump to appoint CFTC commissioners as soon as possible. Analysts pointed out that against the backdrop of Trump's close ties with the crypto industry, while this ruling is beneficial for the industry to advance regulatory reforms in the short term, if the political landscape shifts in the future, rules established by a sole commissioner will be more likely to become "targets for reversal," bringing long-term policy instability risks to the industry.
Elliptic (@elliptic) officially announced that blockchain analytics company Elliptic has received strategic investment from Circle Ventures. Previously, the company completed a $120 million Series D funding round in May this year, led by One Peak, with participation from Nasdaq Ventures, Deutsche Bank, and British Commercial Bank. Meanwhile, Circle has officially joined Elliptic's Agentic Design Partner Program. The program brings together infrastructure providers, compliance institutions, and technical teams to jointly develop compliance solutions for AI agents. Elliptic noted that AI agents differ from traditional bots, as they can set goals autonomously and make independent decisions. Their operating speed and scale have far exceeded the capacity limits of manual compliance systems, urgently requiring specialized solutions to address.
Patrick Hansen, Senior Director of EU Strategy and Policy at Circle, cited the MiCA provisional registration data from the European Securities and Markets Authority (ESMA), releasing the compliance statistics one week after the regulation's full implementation. Currently, the EU has 21 authorized Electronic Money Token (EMT) issuers, distributed across 12 member states, collectively issuing 35 EMTs pegged to 8 types of fiat currencies. Among them, France leads other member states with 6 licensed issuers. Meanwhile, the number of approved Asset-Referenced Token (ART) issuers remains at 0, while the total registered Crypto Asset Service Providers (CASP) under the MiCA framework has exceeded 270.
Odaily, July 5th - The cryptocurrency market continued its stabilization trend, with Bitcoin rising nearly 7% in the week ending July 5th, recording its strongest weekly performance since March. This rally was primarily fueled by declining inflation expectations. The breakeven inflation rate, a measure of market inflation expectations, has dropped notably recently. The two-year indicator has fallen below 2%, approaching the Federal Reserve's inflation target level, while long-term inflation expectations have also weakened. Meanwhile, WTI crude oil prices have fallen in tandem with inflation expectations, returning to levels close to those seen before the geopolitical conflicts in February, prompting the market to reassess inflation pressures, interest rate cut expectations, and the dollar's trajectory.Some analysts suggest that if the US Dollar Index (DXY) weakens, it could further lower resistance for Bitcoin’s upward movement, as the two typically exhibit a negative correlation. However, other viewpoints caution that services inflation remains sticky, and falling oil prices do not necessarily imply a reversal of the overall inflation trend. Monetary policy may continue to maintain a "higher for longer" stance.The next key milestone for the market is the US June CPI data due on July 14th, which could serve as a crucial catalyst for determining the inflation path and the direction of risk assets. (CoinDesk)
the prediction market industry, represented by Kalshi, is dealing with legal disputes in multiple US states, arguing in a series of court hearings this week that state regulators should not have jurisdiction over the matter. These legal challenges are progressing in Nevada and Michigan, with live arguments taking place in Minnesota, and the case could potentially be appealed to the U.S. Supreme Court. Meanwhile, North Carolina is close to imposing a state tax on prediction market revenue. (CoinDesk).
the UK Financial Conduct Authority (FCA) officially published its crypto asset regulatory framework this week, widely regarded by the industry as an international approach emphasizing "global liquidity access," but its implementation still faces significant compliance and approval challenges.Under the new rules, the FCA allows overseas trading platforms to serve UK users through locally authorized branches and access global trading infrastructure, thus avoiding the formation of a closed domestic liquidity pool. Meanwhile, stablecoins not issued in the UK can also circulate in the British market, a stance seen as distinctly different from the regional isolation model of the EU's Markets in Crypto-Assets Regulation (MiCA). The "Qualified Crypto Asset Trading Platform" (QCATP) mechanism within the new rules is viewed as a key structure connecting global exchanges with the UK market, potentially enhancing price efficiency and market depth. However, industry insiders point out that the FCA has yet to clarify which jurisdictions are deemed to have "comparable regulatory protections," a uncertainty that could affect corporate planning decisions.Furthermore, rules related to decentralized finance (DeFi) remain not fully clarified. Some practitioners fear that initial proposals might restrict centralized platforms from accessing the DeFi ecosystem, potentially leaving the UK behind other jurisdictions in this area of innovation.On the compliance front, lawyers point out that under the new Financial Services and Markets Act framework, the authorization process could be extremely stringent. Historical data shows that the FCA's anti-money laundering registration application approval rate is less than 15%. The new system will also cover multiple regulatory requirements including consumer duty, capital adequacy, operational resilience, and senior manager accountability, significantly raising the entry barrier.Industry observers believe the framework overall provides an institutional foundation for institutional capital to enter the crypto market. However, whether the UK can truly become a global crypto hub will depend on the certainty of regulatory enforcement and approval efficiency in the coming months. (CoinDesk)
: New Hampshire's House Bill HB639 has completed the filing process. The bill clarifies that state and local governments cannot restrict individuals from using digital assets for payments or holding assets through self-custody wallets, nor impose additional taxes solely based on the use of digital assets. Meanwhile, individuals or enterprises operating nodes, mining, or staking activities are not required to obtain a money transmission license, and such activities shall not be considered as issuing or selling securities.The bill also authorizes the state Supreme Court to establish a "Blockchain Dispute Tribunal" to hear related civil disputes. It is reported that the bill will take effect 60 days after its passage.
US New Hampshire House Bill HB639 completed the registration process on July 1. The bill specifies that state and local governments shall not restrict individuals from using digital assets for payment or holding assets through self-custody wallets, nor shall they impose additional taxes solely due to the use of digital assets. Meanwhile, individuals or enterprises operating nodes, conducting mining or staking activities are not required to obtain money transmitter licenses, and such activities are not considered issuing or selling securities.
Odaily Planet Daily reported that Galaxy stated on X platform that many Registered Investment Advisors (RIAs) face difficulties in responding to client demands for allocating funds to DeFi while meeting compliance requirements under the U.S. SEC's Custody Rule. The current rule requires client assets to be held with a Qualified Custodian (QC), effectively excluding the self-custody path and making it difficult for traditional financial accounts to directly participate in DeFi strategies.In practice, however, the technical compatibility and compliance integration costs between custodians and new public chains, tokens, and DeFi protocols are high. Most custodians also lack the capability to support DeFi interactions, resulting in a persistent "compliance infrastructure gap." Meanwhile, fiduciary duties require RIAs to not simply exclude client demand for DeFi exposure, placing institutions in a structural conflict between compliance and investment intent.Galaxy believes that a potential future solution lies in establishing a principles-based regulatory framework, including MPC key management, governance controls, third-party audits, on-chain transparency, and rigorous protocol due diligence mechanisms. This approach would aim to unlock on-chain asset allocation capabilities without weakening regulatory objectives.