Crypto Morning News: Trump extends tariff deadline to August 1, Strategy announces $4.2 billion STRD preferred stock issuance plan
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Crypto Morning News: Trump extends tariff deadline to August 1, Strategy announces $4.2 billion STRD preferred stock issuance plan
Airwallex is assembling a stablecoin platform team to build a global token settlement system.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump delays tariff deadline to August 1, Japan and South Korea among nations facing minimum 25% rates
According to Jinshi Data, U.S. President Trump signed an executive order postponing the effective date of reciprocal tariffs and negotiation deadline from July 9 to August 1.
Additionally, he has issued initial tariff letters to 14 countries, announcing that starting August 1, Japan and South Korea will face 25% tariffs, as will Malaysia, Kazakhstan, and Tunisia. South Africa will face a 30% rate, while Laos and Myanmar will be subject to 40% tariffs.
Other affected countries include Indonesia (32%), Bangladesh (35%), Thailand and Cambodia (36%), Bosnia (30%), and Serbia (35%).
Furthermore, according to Politico cited by Jinshi, the U.S. has proposed a trade agreement offering a 10% tariff on the EU with restrictive conditions attached.
Senate Banking Committee to hold cryptocurrency market structure hearing on Wednesday
According to Crypto In America, the Senate Banking Committee will hold a hearing on cryptocurrency market structure this Wednesday and plans to release a draft discussion framework for regulation. The draft will integrate key elements from the 2023 Lummis-Gillibrand Act and the House CLARITY Act, aiming to finalize market structure legislation before the August recess.
Next week, the House will vote on three major bills: the Senate’s stablecoin bill (GENIUS Act), the CLARITY Act, and the anti-CBDC surveillance bill. The GENIUS Act is expected to go directly to President Trump for signing without amendment.
In parallel, the Trump administration’s Digital Assets Markets Working Group is expected to release its first significant report on July 22, potentially recommending the establishment of a strategic Bitcoin reserve and ensuring fair banking access for crypto firms.
Witnesses at the hearing will include Ripple CEO Brad Garlinghouse, Blockchain Association CEO Samantha Masching, Chainalysis CEO Jonathan Levin, and Paradigm partner Dan Robinson.
Musk: “America Party” to embrace Bitcoin, fiat is hopeless
An X user asked whether the "America Party" would embrace Bitcoin. Musk replied: "Fiat is hopeless, so yes."
SEC urges issuers to revise and resubmit spot Solana ETF applications by end of July
According to CoinDesk, the U.S. Securities and Exchange Commission (SEC) is urging issuers to revise and resubmit their spot Solana ETF applications by the end of July, suggesting faster-than-expected approval timelines. Previously, REX-Osprey’s SOL and staking ETF received automatic approval and began trading last week under different regulatory rules, meaning a spot Solana ETF would join Bitcoin and Ethereum as the only approved spot crypto funds in the U.S., while applications for XRP, Dogecoin, and Litecoin remain pending.
Xu Zhengyu: Proposes SFC-led regulation of virtual asset trading and custody services
According to Ming Pao, Hong Kong’s Financial Services and Treasury Bureau and the Securities and Futures Commission (SFC) are conducting a two-month public consultation on licensing regimes for virtual asset trading and custody service providers. Under the new system, the SFC will serve as the primary regulator, while the HKMA will oversee bank-related frontline supervision. Financial Secretary Xu Zhengyu stated the goal is centralized oversight of relevant transactions to prevent "regulatory arbitrage." The new regime requires all virtual asset trading service providers to obtain licenses or register, including existing SFC-licensed or registered intermediaries, virtual asset trading platforms, and OTC operators. Consultation conclusions are expected in the first half of next year.
Possible "Pump.fun token presale" page briefly appeared on Gate this morning, now removed
According to The Block, a suspected "Pump.fun token presale" page briefly went live on Gate this morning but has since been taken down.
Based on countdown information displayed on the site, Pump.fun is set to launch its upcoming PUMP token on July 12. The platform plans to offer 150 billion PUMP tokens at a price of 0.04 USD equivalent in USDT each. The 72-hour PUMP sale will distribute 15% of the total PUMP supply (1 trillion tokens).
Airwallex building stablecoin platform team, aims to create global token settlement system
According to Airwallex (Airwallex) official website, the Australian fintech startup is assembling a stablecoin platform team and has opened two engineering positions focused on building stablecoin infrastructure.
The infrastructure aims to enable customers and internal systems to globally buy, hold, send, and settle tokens, supporting near-instant global payments and seamless on-chain liquidity and fiat-stablecoin conversion.
Previously, Airwallex CEO questioned the practicality of stablecoins, stating they struggle to replace traditional cross-border payments.
Twitter co-founder Jack Dorsey launches decentralized chat app bitchat
Jack Dorsey, co-founder of Twitter, announced on social media the launch of his decentralized chat application, bitchat. "My weekend project involved learning about Bluetooth mesh networks, relays, store-and-forward models, message encryption models, and some other things. bitchat: Bluetooth mesh chat... IRC vibes."
The app supports ephemeral encrypted messaging, fully offline chatting, censorship resistance, and communication capabilities during internet outages. Messages can be relayed through nodes up to 300 meters away.
Strategy announces $4.2 billion STRD preferred stock offering, proceeds to fund Bitcoin acquisitions
Strategy (Nasdaq: MSTR/STRK/STRF/STRD) announced on July 7 a sales agreement to issue up to $4.2 billion of 10.00% Series A Perpetual Stride Preferred Stock (STRD Stock). The company plans to sell these shares gradually over time based on market prices and trading volumes.
As the world’s first and largest Bitcoin treasury company, Strategy said it intends to use proceeds primarily for Bitcoin purchases, operating capital, and dividend payments to existing preferred shareholders. The company has designated Bitcoin as its primary reserve asset while continuing its AI-driven enterprise analytics software business.
The shares will be sold through a "market offering" compliant with securities laws, and the related prospectus was filed with the U.S. Securities and Exchange Commission on July 7.
Strategy reports Q2 2025 earnings: Bitcoin holdings increase to 597,325, unrealized gains reach $14 billion
Strategy (ticker: MSTR) released its report on July 7, 2025, showing that as of June 30, 2025, the company held a total of 597,325 Bitcoins, with a total acquisition cost of $42.4 billion (average purchase price of $70,982 per BTC). During the quarter, the company recorded $14.05 billion in unrealized Bitcoin gains, along with $404 million in deferred tax expenses. In Q2, the company raised $6.8 billion through various financing channels, including issuing common and preferred stock. The report noted the adoption of new accounting standard ASU 2023-08, which requires Bitcoin assets to be measured at fair value, resulting in a total Bitcoin holding market value of approximately $64.4 billion as of the end of the quarter.
Guojin Securities preparing to apply for virtual asset trading-related licenses
Hong Kong-listed Guojin Securities disclosed on an interactive platform that its subsidiary Guojin Securities Limited is preparing to apply for virtual asset trading-related licenses and has conducted multiple discussions with international and Hong Kong-based regulatory bodies. Currently, Guojin Securities Limited holds SFC licenses for Type 1, 2, 4, 6, and 9 activities, covering securities trading, futures contracts trading, securities and institutional financing advisory, asset management, and more. The company plans to expand its overseas operations to further enhance its service capabilities.
Market Movements
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