ETH Foundation Development Strategy Robinhood Launches ETH and SOL Staking Services

Headlines

▌Ethereum Foundation announces reorganization of ecosystem development strategy

The Ethereum Foundation announced on July 10 that it would reorganize its ecosystem development (EcoDev) strategy to focus on four key areas. The plan includes the establishment of four new teams to focus on ecosystem acceleration, covering corporate relations, developer growth, application research, and founder support. The Foundation will also strengthen ecosystem expansion efforts, continue to provide funding support, and work to address global adoption barriers. The adjustment aims to achieve two major goals: expand the Ethereum user base and enhance the resilience of its technical and social infrastructure. The Foundation emphasizes that it will work with a wide range of partners in the ecosystem to promote the growth and development of Ethereum.

▌Robinhood officially launches ETH and SOL staking services to US users

Robinhood (HOOD.O) officially launched Ethereum (ETH) and Solana (SOL) staking services to US users.

Market

As of press time, according to CoinGecko data:

BTC price is $115,782, up 3.8% in 24 hours;

ETH price is $2,949.81, up 6.1% in 24 hours;

BNB price is $685.20, up 2.3% in 24 hours;

Policy

▌Trump brags about his achievements: Cryptocurrency "breaks the ceiling"

US President Trump said on social media: Technology stocks, industrial stocks, and the Nasdaq index hit record highs! Cryptocurrency "breaks the ceiling". Nvidia's stock price has risen 47% since Trump imposed tariffs. The United States is imposing hundreds of billions of dollars in tariffs. The country is now "back". Great honor! The Federal Reserve should quickly lower interest rates to reflect this strength. The United States should be at the "top of the list". No inflation! !

▌The U.S. Treasury Department officially cancels the cryptocurrency broker reporting rule

According to Bloomberg, the U.S. Treasury Department officially canceled the cryptocurrency broker reporting rule. The cryptocurrency broker reporting rule requires certain DeFi brokers to report total returns and provide user data, including names and addresses. The IRS rule, finalized in December, requires DeFi brokers to file Form 1099, similar to traditional securities brokers. Critics argue that the rule stifles innovation, undermines privacy, and complicates tax returns given the decentralized nature of the crypto industry. U.S. senators previously proposed the Congressional Review Act resolution to overturn the controversial IRS rule, which was signed into law by President Trump in April.

▌Federal Reserve Musallem: Stablecoins may become an important part of payments

Federal Reserve Musallem said that stablecoins are an interesting innovation in the payment field and that it is a good thing to establish a regulatory framework. Stablecoins may become an important part of payments.

▌Federal Reserve Governor Waller: Stablecoins can boost overall demand for the dollar

Federal Reserve Governor Waller said on Thursday that stablecoins will enhance competition in the payment system, which is a good thing. Waller said at an event at the Federal Reserve Bank of Dallas that the rise of stablecoins will make many types of payments cheaper and faster. "As a free market capitalist economist, my goal is to reduce costs for households, consumers and businesses through competition in the payments space," Waller said. He also said that stablecoins may curb demand for U.S. paper money but enhance overall demand for the dollar.

▌U.S. Senate confirms former blockchain industry executive Jonathan Gould as OCC director

The U.S. Senate voted 50 to 45 to confirm former Bitfury chief legal officer Jonathan Gould as director of the U.S. Office of the Comptroller of the Currency (OCC), and the nomination will be sent to President Trump for final approval. Gould previously served as chief counsel and deputy director of the OCC. This year, the OCC has taken more crypto-friendly measures, including allowing U.S. banks to self-manage crypto assets. At the same time, the House of Representatives is accelerating the legislation of stablecoins. Next week, it will hold a "Crypto Week" to review the GENIUS Act, which requires stablecoins to be fully collateralized by highly liquid assets such as the U.S. dollar and conduct annual audits on issuers with a market value of more than $50 billion.

▌Shanghai State-owned Assets Supervision and Administration Commission held a central group study meeting on the development trends and response strategies of cryptocurrencies and stablecoins

The Party Committee of the Shanghai State-owned Assets Supervision and Administration Commission held a central group study meeting on July 10 to study the development trends and response strategies of cryptocurrencies and stablecoins. He Qing, Secretary of the Party Committee and Director of the Municipal State-owned Assets Supervision and Administration Commission, pointed out that it is necessary to fully implement the spirit of the Seventh Plenary Session of the 12th Municipal Party Committee, adhere to innovation-driven development, maintain a keen sense of emerging technologies, and strengthen research and exploration of digital currencies. Adhere to the integration of production and numbers, and explore the application of blockchain technology in cross-border trade, supply chain finance, asset digitization and other fields. We should persist in making efforts, improve our strategic agility and initiative, further promote the deep integration of science and technology, finance and industry, better play the important role of state-owned assets and state-owned enterprises in scientific and technological innovation, industrial control and security support, and make new and greater contributions to the construction of Shanghai's "five centers".

Blockchain application

▌Ant International denies access to Circle

Recently, there was news that Ant International cooperated with Circle. Ant International said: Media reports are inaccurate and there is no such plan at present.

▌Florida Attorney General investigates Robinhood cryptocurrency trading

According to market news: Florida Attorney General investigates Robinhood's (HOOD.O) efforts to promote cryptocurrency trading.

▌German state-owned development bank NRW.BANK issues 100 million euro bonds on Polygon chain

German state-owned development bank NRW.BANK issued a blockchain bond worth 100 million euros (about 116.7 million US dollars) on the Polygon blockchain. The bond is registered in accordance with the German Electronic Securities Act (eWpG) and the infrastructure is provided by Cashlink's BaFin-regulated crypto securities registration system. The issuance attracted the participation of many institutional investors, with Deutsche Bank, DZ Bank and Deka Bank acting as lead underwriters, marking the increasing acceptance of digital securities in the European public offering sector.

▌GATES will tokenize $75 million worth of Tokyo real estate

Japanese real estate investment company GATES Inc. has unveiled a plan to tokenize $75 million worth of income-generating real estate in central Tokyo using the Oasys blockchain to make it easier for foreigners to enter the country's real estate market. The company said Thursday that it plans to expand rapidly, with the ultimate goal of tokenizing more than $200 billion in assets.

▌Rumble partners with MoonPay and will launch a crypto wallet in Q3

Video sharing platform Rumble (NASDAQ: RUM) today announced a partnership with crypto payment infrastructure company MoonPay to jointly promote creators' profit model changes in the decentralized world. According to the agreement, MoonPay will provide full cryptocurrency access support for Rumble Wallet, which is scheduled to be launched in the third quarter of 2025, enabling users to seamlessly buy, sell and exchange cryptocurrencies. At the same time, MoonPay's creative agency Otherlife will begin using Rumble Cloud for next-generation object storage and decentralized computing.

Cryptocurrency

▌BTC continues its strong performance and hits a new record high

BTC continued its strong rally yesterday, breaking through $116,500 in a short period of time, setting a new record high.

▌Grayscale updates the list of proposed and existing crypto products, involving assets in multiple sectors

Crypto asset management company Grayscale announced a product update list as of July 10, 2025: current products cover a variety of digital assets such as Bitcoin, Ethereum, Solana, Uniswap, Dogecoin, Chainlink, etc.; Toncoin, Arbitrum, BNB, Pendle, Jupiter, LayerZero, etc. are added to the list of considerations. Grayscale stated that it will update the list up to 15 days after each quarter, but whether it will eventually go online still requires internal review and regulatory compliance. This time, the assets are classified according to sectors such as "currency", "smart contract platform", "finance", "AI", "consumer and culture", and "tools and services", reflecting its crypto asset layout strategy.

▌BlackRock purchased $158 million worth of ETH and $125 million worth of BTC

 Arkham posted on the X platform that BlackRock purchased $158 million worth of Ethereum and $125 million worth of Bitcoin.

▌Bit Mining: Will raise $200 million to $300 million for Solana strategy

Bit Mining: Will convert cryptocurrency holdings to Solana. Will raise $200 million to $300 million for Solana strategy.

▌Trump's social platform Truth Social launches utility tokens

Truth Social, the social media platform founded by US President Trump, announced that it will launch utility tokens as part of its new loyalty rewards program, which is associated with its "Patriot Package" subscription service. According to the announcement, "Patriot Package" subscribers will accumulate "gems" on their Truth Social accounts based on their platform interaction, which will eventually be linked to utility tokens on the Truth Social and Truth+ platforms. The subscription service is currently in public beta, with a monthly fee of US$9.99, and provides services such as 12 "premium, non-awakening news channels", expanded video-on-demand content, and platform verification marks.

Important Economic Dynamics

▌Potential candidate for Fed Chairman Waller supports July rate cut: This is not about politics

Federal Reserve Board member Waller said on Thursday local time that even though the June employment data was strong, the Fed should still consider cutting interest rates at the July interest rate meeting. He emphasized in the Q&A session after his speech at the Dallas Fed: "I have made my point clear - the current policy interest rate level is too high, and we can discuss lowering the benchmark interest rate in July." He believes that inflation has cooled significantly, the job market has stabilized, and the recent price increases caused by tariffs are limited to specific commodities. He said, "When inflation is going down, we don't need to maintain such a tight policy stance. This is the decision-making logic that the central bank should have." The special thing about Waller's statement is not only the timing - the latest employment data just showed that the labor market continued to be strong - but also because he is regarded as a popular candidate for the next Fed chairman. U.S. President Trump has repeatedly criticized Powell and urged him to step down early, and Waller is seen as a potential successor because of his dovish stance. But Waller made it clear on Thursday: "Although I am in the minority, I have clearly demonstrated the feasibility of interest rate cuts with economic logic. This has nothing to do with politics."

▌Fed Daly: Two interest rate cuts are expected in 2025, and the impact of tariffs may be weaker than expected

San Francisco Fed President Daly said she still believes that there may be two interest rate cuts this year, and pointed out that the possibility of a milder impact on prices than expected by tariffs is increasing. Daly revealed that some companies are negotiating to share tariff costs, thereby reducing the proportion passed on to end consumers. She said that the U.S. economy is in good shape, and economic growth and consumer spending are slowing, but they have not weakened. Inflation is moving towards the Fed's 2% target. "I think there may be two interest rate cuts, but there is uncertainty in everyone's expectations. Consider implementing a rate cut in the fall," Daly said.

▌JP Morgan Chase CEO: The probability of rising US interest rates is expected to be between 40% and 50%

JP Morgan Chase CEO Dimon said that the probability of rising US interest rates is expected to be between 40% and 50%.

Golden Encyclopedia

▌How does the trade war affect the stock and crypto markets?

Tariffs raise the cost of imported goods and squeeze the profit margins of companies that rely on international supply chains. When automakers or electronics brands have to pay higher costs for parts, these costs will either erode profits or be passed on to consumers. In either case, it's bad news for earnings, which is a factor in determining stock valuations. There is also the fear factor. The trade war has injected huge uncertainty into the economy. Will more tariffs be imposed next? Will other countries retaliate? This unpredictability can cause businesses to delay investments and hiring, while consumers may start spending less. This manifests itself as increased market volatility. The tariffs also hit cryptocurrencies, but the market recovered after a few days, reflecting the volatile and responsive nature of cryptocurrencies during times of global uncertainty. When uncertainty rises — such as a sudden escalation in global trade tensions — investors tend to play it safe. This means investors withdraw from more volatile assets, including cryptocurrencies, and hold assets that are seen as safer, such as cash or bonds. This is a classic "risk-off" strategy. But cryptocurrencies won't stay depressed for long. For many investors, despite their volatility, cryptocurrencies are also increasingly seen as a valuable hedge that is not affected by any government or policy decisions.