Wu Shuo Daily Selected Crypto News + Wu Shuo Weekly Selected: News Top 10 and Hot Articles
Powered by ChatGPT1. US President Trump Signs "Big and Beautiful" Tax and Spending Bill
US President Trump signed the "big and beautiful" tax and spending bill into law on July 4th local time (early morning of July 5th, Beijing time). The US House of Representatives passed the "big and beautiful" bill promoted by President Trump on the afternoon of July 3rd with a vote of 218 in favor and 214 against. The bill has been controversial due to federal aid cuts, increased long-term debt, and tax cuts for the wealthy and large corporations. The bill was passed by the Senate on July 1st.
2. World Liberty Financial Community Proposal Plans to Open Trading of WLFI Tokens
The Trump family's crypto project, World Liberty Financial community, has released a proposal to open trading of $WLFI tokens. If the proposal passes, some tokens held by early supporters will be unlocked for circulation, while the founding team and advisors will still have a long lock-up period. In addition, the community will vote on the remaining token unlocking plan and ecological incentive distribution in the future. Voting is underway.
3. Conor Grogan: $8 Billion $BTC Anomaly May Involve Private Key Leak
According to Coinbase Director Conor Grogan, the recent anomaly in the $BTC address (with a market cap of approximately $8 billion) may involve a private key theft or leak. He pointed out that one of the related addresses initiated a test transaction through the BCH network about 14 hours ago and immediately transferred all BCH. About an hour later, its $BTC address began to transfer assets. Conor speculated that this was a low-key way to verify the validity of the private key, as the BCH network receives less attention from whale monitoring services. In addition, no anomalies were observed in other related BCH addresses, further intensifying abnormal speculation. He emphasized that there is currently no conclusive evidence, and the relevant judgment is still highly speculative, but if true, it may become the largest crypto asset theft in history.
4. Yixian, Anhui Police Arrest Criminal Gang Using Cryptocurrency for Money Laundering, Arresting 12 People
In early May, a ticket change fraud case occurred in Yixian County, Huangshan City, Anhui Province. After the case occurred, the Criminal Investigation Brigade of the Yixian County Public Security Bureau locked down a money laundering criminal gang from Xinyu, Jiangxi, that converted WeChat payments into U coins through in-depth research and judgment. The Yixian County Public Security Bureau organized police forces to conduct a unified arrest in Xinyu, Jiangxi, and arrested 12 criminal suspects. Currently, the case is under further investigation.
5. Hong Kong Financial Secretary: Preparing to Issue the Third Batch of Tokenized Bonds
Hong Kong Financial Secretary Xu Zhengyu stated that Hong Kong has issued tokenized green bonds twice in 2023 and 2025, and the third batch is currently in preparation. In the future, the issuance of tokenized government bonds will be regularized, and incentives will be provided for real-world asset tokenization, such as waiving stamp duty on the transfer of tokenized ETFs. Hong Kong will also promote the tokenization of assets and financial instruments in multiple fields such as precious metals, non-ferrous metals, and solar panels to demonstrate the wide application potential of related technologies.
6. Wu Shuo Weekly Highlights: FTX Chinese Creditor Claims Blocked, Hong Kong Announces OTC Consultation Documents, RMB Stablecoin Sparks Discussion and News Top 10
Top 10 News of the Week
1. Bitcoin Core Development Team Schedules OP_RETURN Change for October link
The Bitcoin Core development team announced that it will modify the OP_RETURN default settings in the Core 30 version released in October, increasing the data carrier limit from 80 bytes to nearly 4MB. This decision marks a phased victory for the reformists led by Antoine Poinsot in the long-term dispute with conservatives such as Luke Dashjr.
2. US May Unadjusted CPI Annual Rate 2.4%, Expected 2.50% link
The US May seasonally adjusted CPI monthly rate was 0.1%, expected 0.20%, and the previous value was 0.20%. The US May unadjusted CPI annual rate was 2.4%, expected 2.50%, and the previous value was 2.30%. The US May unadjusted core CPI annual rate was 2.8%, expected 2.90%, and the previous value was 2.80%. The US May seasonally adjusted core CPI monthly rate was 0.1%, expected 0.30%, and the previous value was 0.20%. The CPI was comprehensively lower than expected, and traders increased their bets on the Federal Reserve's interest rate cut in September.
3. US Senate Plans to Hold Final Vote on the "GENIUS Act" on June 17 link
The US Senate plans to hold a final vote on the "GENIUS Act" on June 17 (Tuesday), and the specific time will be determined by the majority leader. Previously, the US Senate passed a procedural motion on the amendment to the "GENIUS Act" with 68 votes to 30, paving the way for the final vote.
Previously, the US Senate passed a procedural motion (cloture) on the amendment to the "GENIUS Stablecoin Act" with 68 votes to 30, paving the way for the final vote. The Senate had previously attempted to advance the bill in May but failed to pass it. About a week later, it passed the procedural motion again with 66 votes to 32. The bill requires stablecoins to be fully reserved with US dollars or equivalent highly liquid assets, and requires annual audits for issuers with a market value of more than $50 billion.
4. US SEC Chairman Paul Atkins: Self-Custody is a Foundational American Value link
US Securities and Exchange Commission (SEC) Chairman Paul Atkins stated at a cryptocurrency special panel roundtable on June 9 that self-custody of private property is "a foundational American value" and should not be lost due to the use of the Internet. He supports giving market participants greater flexibility in self-custody of crypto assets in cases where intermediaries bring unnecessary transaction costs or restrict on-chain activities such as staking.
5. SEC Asks Solana ETF Applicants to Update S-1 Documents, Approval May Be Granted as Early as July link
The US SEC has asked institutions planning to issue spot Solana ETFs to submit updated S-1 documents within a week and will provide feedback within 30 days. The updated content includes statements on physical redemption and staking mechanisms. The SEC is open to including staking in the ETF structure. A person familiar with the matter said that this may allow the Solana ETF to be approved in 3 to 5 weeks, possibly as early as July.
6. Strategy Announces Another Purchase of 1045 Bitcoins link
Strategy announced another purchase of 1045 Bitcoin, costing approximately $110 million, at a unit price of approximately $105,426. As of June 8, Strategy holds a total of 582,000 Bitcoin, with a cumulative purchase cost of approximately $40.79 billion and an average purchase price of approximately $70,086.
7. Bloomberg: Ant Group Plans to Apply for Stablecoin Licenses in Hong Kong and Singapore link
Ant Group Co.'s international business unit is planning to apply for stablecoin licenses in Singapore and Hong Kong. People familiar with the matter said that Ant International, based in Singapore, will apply for a stablecoin issuer license in Hong Kong immediately after Hong Kong's "Stablecoins Ordinance" comes into effect in August. In addition to Singapore, the company also plans to seek permission in Luxembourg. People familiar with the matter said that this move aims to strengthen the company's blockchain business to support its cross-border payment and fund management services. They said that Ant Financial processed more than $1 trillion in global transactions last year, one-third of which was processed by its blockchain-based Whale platform.
In response to reports that Ant International is planning to apply for stablecoin licenses in Hong Kong and Singapore, Ant International responded that it is accelerating investment and expanding cooperation in global treasury management, and will put our AI, blockchain and stablecoin innovations into real and reliable large-scale applications. "We welcome the Hong Kong Legislative Council's passage of the 'Stablecoin Ordinance' and will submit an application as soon as possible after the bill takes effect on August 1 and the relevant channels are opened, hoping to contribute more to Hong Kong's construction of a future international financial center," Ant International said.
8. Walmart and Amazon are Evaluating the Feasibility of Issuing Their Own Stablecoins in the United States link
According to the Wall Street Journal, Walmart and Amazon are evaluating the feasibility of issuing their own stablecoins in the United States, or adopting third-party stablecoins, with the goal of reducing payment fees and improving settlement efficiency. The plan is expected to advance after the "Genius Act" stablecoin bill clarifies the regulatory framework. Sources said that the two companies are also considering joining a merchant-led stablecoin alliance.
9. Crypto Fund Assets Under Management Reached $167 Billion in May, a Record High link
Assets held by crypto funds hit a record high in May. Data from Morningstar on 294 crypto funds showed that these funds attracted $7.05 billion in net inflows last month, the highest level since December last year, bringing total assets under management to a record $167 billion. In contrast to crypto funds, Lipper data showed that global equity funds had net outflows of $5.9 billion in May, while gold funds had their first net outflow in 15 months, amounting to $678 million.
10. Ethereum Developers and Foundation Directors Clash, EF Allegedly Offered $5 Million to Spin Off Geth Development Team link
Ethereum developer Péter Szilágyi clashed with Ethereum Foundation co-executive director Tomasz Stańczak. Szilágyi said that the foundation had repeatedly offered $5 million to allow the Geth (Go Ethereum, Ethereum's main client software) team to become independent from the foundation, but his team refused. In addition, the foundation also provided $5 million in funding to Parity to promote client diversification and reduce reliance on Geth. Previously, Foundation co-executive director Tomasz Stańczak stated that there are currently no plans to remove Geth and will continue to support its development work.
Key Financing Events
SBI Holdings and its subsidiaries invest $50 million in Circle link
Layer 2 protocol RISE Chain announces $4 million investment from Galaxy Ventures link
Web3 investment company JDI announces it has fully acquired blockchain project Moonchain link
Pompliano plans to serve as ProCapBTC CEO, planning to raise $750 million through SPAC to purchase Bitcoin link
DeFi Development Corp. obtains $5 billion in stock financing quota for increasing its holdings of $SOL link
Trident Digital plans to raise $500 million to establish an XRP reserve link
Wallet infrastructure company Turnkey completes $30 million Series B financing link
Stablecoin startup Noah completes $22 million in financing link
Web3 security company Hypernative completes $40 million Series B financing link
Consumer loyalty platform Try Your Best completes $11 million Series A financing link
OneBalance announces completion of $20 million Series A financing link
The Blockchain Group completes 9.7 million euros in financing, planning to increase its holdings of approximately 80 Bitcoin link
OpenTrade completes $7 million in strategic financing, led by Notion Capital and Mercury Fund link
Silhouette announces completion of a $3 million Pre-Seed round led by RockawayX link
Orange Cap Games completes $3.5 million seed round, led by 1kx and Yuga Labs link
For more industry financing events, please visit crypto-fundraising.info.