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According to Iran's Tasnim News Agency, the Iranian military has announced it will continue its drone operations targeting U.S. military bases in the region until a final victory is achieved.

The U.S. Commodity Futures Trading Commission (CFTC) has ordered prediction market Kalshi not to cancel trades as previously mandated by a Michigan state court, which had banned the platform's sports betting activities last month. According to CoinDesk, the state court ordered Kalshi to halt online sports betting in June. Subsequently, on July 2, Kalshi filed an emergency request with the CFTC after the court directed it to void, cancel, and refund trades for some users in Michigan. CFTC Chairman Michael Selig stated that the agency will not allow state governments or courts to pressure CFTC-registered firms into violating the Commodity Exchange Act and CFTC regulations, adding that states do not have the right to interfere. He emphasized that canceling executed trades is an unprecedented measure that risks a chain reaction across the market, potentially creating uncertainty and undermining public trust.

Coinbase has announced that it will halt trading for Across Protocol (ACX) on July 28. The move comes after the Across Protocol team said it plans to shut down the project.

UK Chancellor of the Exchequer Reeves has announced plans to issue the country's first digital sovereign bond in early 2027.

The three major U.S. stock indices closed higher today. - S&P 500: +0.38% - Nasdaq: +0.90% - Dow Jones: +0.02%

Pro-crypto U.S. Senator Cynthia Lummis said she will introduce the full text of the Clarity Act within days, after working on the legislation for 10 months, Cointelegraph reported.

Hyperscale Data, a U.S. publicly traded Bitcoin treasury and AI data center company, recently purchased an additional 32.49 BTC, according to data from Bitcoin Treasuries. The company now holds 1,032.49 BTC.

The U.S. Securities and Exchange Commission's (SEC) crypto task force met with representatives from the lobbying group Hyperliquid Policy Center and the Hyperliquid perpetual futures trading platform trade.xyz to discuss potential regulations for crypto assets, The Block reported.

According to Iranian state media, U.S. strikes hit targets on Iran's Qeshm Island.

Shunyet Jan, Binance's head of spot and derivatives, predicted that stablecoins will change the landscape of cryptocurrency growth. In an interview with CoinDesk, he stated that Binance is striving to become a super app with payment capabilities, moving beyond its role as a simple crypto exchange. Jan noted that people are increasingly using crypto for purposes other than trading. While trading remains the core of Binance's business, he explained that the growing use of stablecoins for payments and remittances is creating a market far larger than that for trading alone. He suggested that if Binance were viewed as a payment service provider, its potential scale would be much greater.

An address believed to be associated with FTX and Alameda Research has moved 91,000 SOL ($7.08 million) to Coinbase Prime, Onchain Lens reported. This follows a transfer of 201,000 SOL ($15.14 million) from the same address to BitGo custody yesterday. The move is seen as a likely precursor to a sale.

Speaking at a press conference opposing the Clarity Act, Democratic Senator Chris Van Hollen of Maryland emphasized that Democrats should not allow any crypto legislation to pass the Senate without first addressing the ethical concerns surrounding President Donald Trump's conflicts of interest. With an updated draft of the bill expected to be released in the coming days ahead of a full Senate vote, Van Hollen added that he hopes the legislation never sees the light of day.

Tom Lee, founder of Bitmine, noted on social media that Ethereum was the best-performing macro asset on the day a lower-than-expected CPI was announced. He argued this supports the case for ETH being a currency.

The United States and the United Kingdom have announced a joint plan to support tokenized assets and stablecoins, CoinDesk reported. The U.S. Department of the Treasury and the UK's HM Treasury have released a 10-point roadmap to coordinate supervision over tokenized assets, stablecoins, and digital financial markets. The initiative focuses on reducing regulatory friction that could hinder the growth of security tokens, stablecoins, and other cryptocurrencies traded in both countries. To this end, the plan proposes forming an industry-led working group to test global tokenization projects, align security token regulations, and support the development of cross-border stablecoins. The announcement clarified that the plan outlines areas for closer cooperation among regulators—including the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the UK's Financial Conduct Authority (FCA), and the Bank of England—rather than introducing new regulations.

Binance co-founder He Yi stated via social media that since 2021, the exchange has assisted users in recovering over $8 billion in assets from mistaken cryptocurrency transfers.

According to a summary from crypto media outlet Wu Blockchain, the following are the cycle bottom predictions for Bitcoin from major traditional and crypto institutions: - Standard Chartered: Bottom forming around the $59,000 level - CryptoQuant, NYDIG, and Citi: Cycle bottom in the $53,000–$54,000 range - 10X Research: Bottom forming in the $46,628–$50,732 range - Galaxy Research: Bottom forming in the $40,000–$46,000 range - Bitfinex and 22V: Potential for a further decline to the $40,000 level

JP Morgan has downgraded its earnings forecast for Coinbase, citing a new agreement with Hyperliquid that it says has created a profit-eroding "prisoner's dilemma" for both Coinbase and Circle. Under the new terms, Coinbase will exclusively receive all interest income generated from USDC held on Hyperliquid, but will then pay 90% of that revenue to Hyperliquid. Previously, Coinbase and USDC issuer Circle split such interest income 50/50. The move comes as Hyperliquid has emerged as a key distribution channel for USDC, holding approximately $6 billion, or 8% of the stablecoin's total circulating supply. JP Morgan noted that the deal effectively forces Coinbase and Circle into a competitive race to expand USDC's reach, sacrificing their own profitability in the process. The investment bank warned that this arrangement could become a long-term headwind, particularly as the crypto market slows and USDC's circulation has already declined to $73 billion amid the rise of regulatory alternatives.

U.S. investment bank Benchmark has raised its price target for Nasdaq-listed Bitcoin mining company Hut 8 (HUT) to $165 from $85. According to The Block, Benchmark analyst Mark Palmer explained that Hut 8 has signed two AI data center lease agreements, securing a value of $16.8 billion. This figure could increase to $42.8 billion if a five-year extension option is exercised. Palmer noted that the company is seen as having long-term growth potential.

Three U.S.-listed Bitcoin mining companies—CleanSpark, BitFuFu, and Canaan—all reported a decrease in their BTC production in June compared to May, despite a significant drop in network difficulty, according to The Block. CleanSpark's output fell to 614 BTC from 671 BTC, BitFuFu's dropped to 125 BTC from 177 BTC, and Canaan's declined to 64 BTC from 90 BTC. The report noted varied reasons for the decline: CleanSpark's average operating hashrate fell from 46 EH/s to around 43 EH/s; BitFuFu's total hashrate dropped from 19.5 EH/s to 15 EH/s due to a reduction in hosted capacity; and Canaan cited power grid maintenance. The production decrease came as Bitcoin's mining difficulty saw a downward adjustment of over 10% in mid-June, reaching its lowest level of 2026.

Fed Chairman Kevin Warsh said that higher inflation is unacceptable.

According to Santiment, daily crypto-related mentions on major social channels, including X (formerly Twitter), Reddit, and Telegram, have hit their second-lowest level since October 2024.

Global brokerage Interactive Brokers (IBKR) has added 12 new cryptocurrencies for trading through a partnership with Zerohash and Paxos. The new assets include AAVE, APT, CC, LDO, MON, NEAR, XPL, PAXG, and UNI. Additionally, IBKR has introduced a stablecoin withdrawal feature, enabling customers to convert their U.S. dollar balances to USDC, PYUSD, or RLUSD for transfer to external wallets.

U.S. Federal Reserve Chairman Kevin Warsh stated that the Fed is working around the clock to finalize detailed regulations for the GENIUS Act before this Saturday. The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) is the first federal law in the United States to define issuance requirements, asset collateral ratios, and consumer protection standards for dollar-pegged payment stablecoins. The legislation is currently in the rulemaking stage, where sub-regulations and specific rules are being established ahead of its full implementation.

An address suspected of belonging to the U.S. government has transferred 5,939 ETH, worth $11.15 million, to Coinbase Prime, Lookonchain reported.

Ripple has joined the Linux Foundation's x402 Foundation as a premier member, U.Today reported. Through this partnership, Ripple will integrate its cryptocurrency XRP and its RLUSD stablecoin into the open-source x402 payment protocol. The x402 standard enables AI agents and applications to make payments directly over HTTP. Ripple has already implemented x402 support on the XRP Ledger (XRPL) to facilitate autonomous transactions by AI agents. A Ripple official stated that the XRPL is optimized for machine-to-machine (M2M) payments, citing its fast transaction finality of three to five seconds and low fees. The foundation's members include 40 global companies such as Google, Amazon, and Mastercard, which are working to build out AI-powered financial infrastructure.