Wu Says Daily Selected Crypto News - Federal Reserve Announces Interest Rate Decision (Upper Limit) at 4.50%

1. The Federal Reserve Announces Interest Rate Decision (Upper Limit) at 4.50%

The Federal Reserve announced the interest rate decision (upper limit) at 4.50%, in line with expectations of 4.50% and the previous value of 4.50%. According to the June 2025 FOMC dot plot, under the current federal funds rate range of 4.25%–4.50%, 7 members expect no rate cuts this year, 2 expect one cut, 8 expect two cuts, and 2 expect three cuts, with no members forecasting four or more cuts.

2. U.S. Prosecutors File Civil Forfeiture Lawsuit Over More Than 225 Million USD in Crypto Assets

On June 18, the U.S. Department of Justice announced a civil forfeiture lawsuit filed in the District of Columbia Federal Court against over 225 million USD in crypto assets, alleging their involvement in the transfer and laundering of proceeds from crypto investment fraud. The investigation, conducted by the U.S. Secret Service and FBI using blockchain analysis and other methods, confirmed that the addresses in question formed a laundering network executing hundreds of thousands of transactions designed to conceal the source and ownership of funds. This action is described as the largest crypto asset seizure in Secret Service history, and Tether is reported to have assisted in the investigation.

3. Pump Fun Engages Top Lawyers to Respond to Burwick Law Litigation

Pump Fun is hiring top lawyers to respond to the Burwick Law lawsuit. Burwick Law alleges that Pump Fun illegally raised millions of dollars by selling "highly volatile unregistered securities" without compliance measures, potentially involving "terrorist financing, drug trafficking, and other transnational crimes." To address the lawsuit, Pump Fun's parent company, Baton Corporation, has assembled a defense team from the renowned law firm Brown Rudnick, including former SEC investigator Daniel L. Sachs, crypto litigation expert Kyle P. Dorso, and senior crypto attorney Stephen D. Palley.

4. QCP: Federal Reserve Maintains Hawkish Stance; Global Tariffs Approaching Key Junctures; BTC Volatility Declines Indicating Summer Lull

QCP Capital noted that the Federal Reserve maintained interest rates as expected but retained a hawkish stance due to persistently high inflation expectations, especially tariffs viewed as an upside risk. Although the labor market remains resilient, macro market attention is shifting toward global trade dynamics, with multiple tariff exemptions set to expire between July and August, potentially causing phased volatility in risk assets. Additionally, the crypto market exhibits typical summer low volatility characteristics, with BTC implied volatility dropping below 40%, and short-term trends dominated by month-end options expiration (OPEX) and systemic deleveraging.

5. People’s Court Daily: Exploring Offshore Compliant Realization and "Black Hole Address" Destruction Mechanisms for Virtual Currency Disposal

An article in People’s Court Daily pointed out that virtual currencies possess property attributes, which has become a consensus in judicial practice. For cases requiring compensation to victims or confiscation, to balance the need to dispose of involved virtual currencies with mainland regulatory policies, it is possible to explore entrusting qualified third-party institutions, under the filing and supervision of the People’s Bank of China, foreign exchange authorities, and others, to convert virtual currencies into fiat currency at market prices via compliant licensed trading platforms in jurisdictions where virtual currency trading is lawful, such as Hong Kong. For virtual currencies used in crimes that threaten national security or public interest, such as privacy coins, they may be sent to "black hole addresses" for destruction, permanently removing them from circulation.