Crypto Morning News: Trump to Announce Multi-Country Trade Matters; Grayscale Releases Q2 Multi-Asset Fund Weightings
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Crypto Morning News: Trump to Announce Multi-Country Trade Matters; Grayscale Releases Q2 Multi-Asset Fund Weightings
JD.com, Standard Chartered, Ant Group, and other companies are preparing to apply for stablecoin licenses in Hong Kong.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Trump: Trade actions regarding at least 7 countries to be announced tomorrow morning (ET)
According to Jinshi Data, Trump posted on Truth Social stating that trade-related announcements concerning at least seven countries will be released tomorrow morning (Eastern Time), with additional countries addressed in the afternoon. He also indicated that a letter disclosing tariff rates on EU exports to the U.S. might be sent within two days.
Additionally, U.S. Commerce Secretary Lutnick said many countries have proposed opening their markets, and he expects 15 to 20 trade letters to be issued over the next two days.
Trump: Tariffs to take effect August 1, 2025, with no extensions granted
According to Jinshi Data, Trump stated that tariffs will go into effect on August 1, 2025. The deadline will not change, and no extensions will be granted.
Foreign media: Musk confirms releasing Epstein files will be a priority for the "American Party"
According to Jinshi Data citing foreign media, Musk again criticized President Trump over the "Epstein case" and confirmed that his newly formed party, the "American Party," will prioritize the release of Epstein-related documents.
On July 8, Musk tweeted, “How can people trust Trump if he doesn’t release the Epstein files?” When a user asked whether releasing these documents would be a priority for the "American Party," Musk responded with a “100%” emoji.
Robinhood engages European regulators over stock tokenization plans
According to The Block, Robinhood Markets is in discussions with multiple European regulatory authorities about its recently launched stock tokenization initiative. On June 30, the company announced it had begun offering blockchain-based "stock tokens" for OpenAI and SpaceX to eligible European users, with plans to offer tokenized versions of over 200 U.S. stocks later this year. Robinhood CEO Vlad Tenev clarified that these tokens are derivatives designed to provide retail investors with market exposure rather than actual equity. Despite regulatory scrutiny, on-chain data shows Robinhood has already issued around 215 stock tokens on the Arbitrum Layer 2 network and continues testing related contracts.
JD.com, Standard Chartered, Ant Group among firms preparing to apply for Hong Kong stablecoin licenses
According to First Financial Daily, more than 40 companies are preparing applications, including JD Blockchain, the Standard Chartered-Ani-HKT consortium, OSL Innovation, and Ant International. However, only single-digit licenses are expected to be granted, making competition extremely fierce. Industry insiders note applicants are primarily large Chinese financial institutions and internet companies, some of which have already begun actively recruiting blockchain talent. Experts believe while stablecoins may improve cross-border payment convenience, their actual cost—close to 1%—means their disruptive impact on the international monetary system has been overstated.
OpenSea acquires Rally wallet to strengthen mobile and token trading capabilities
According to The Block, NFT marketplace OpenSea today announced the acquisition of Rally, the company behind the Rally wallet and a mobile-first web3 application experience. The acquisition aims to bolster OpenSea’s position in the token trading space. The platform currently supports token trading across 19 blockchains.
Survey: Most merchants in Yiwu say they’ve never heard of stablecoins; only a few accept them
According to an on-the-ground investigation by 21st Century Business Herald, stablecoin usage at Yiwu International Trade City is far below rumored levels. Reporters found most merchants are unfamiliar with stablecoins, only a few accept payments in stablecoins, and some raised concerns about compliance and costs.
Earlier market reports claimed over 3,000 merchants in Yiwu were accepting USDT and other stablecoins, with monthly transaction volumes exceeding $1 billion.
Trump’s Truth Social files S-1 registration statement for crypto blue-chip ETF
Official documents show that Truth Social Crypto Blue Chip ETF, B.T., filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on July 8, 2025, applying to register a cryptocurrency ETF product. Headquartered in Mountainside, New Jersey, and incorporated in Nevada, the company’s fiscal year ends on September 30. The filing includes multiple attachments such as articles of incorporation, agreement texts, and fee schedules.
Grayscale announces Q2 weightings for multi-asset funds
Grayscale Investments® announced the 2025 second-quarter rebalancing of its multi-asset funds. The DeFi Fund added Ondo (ONDO), with Uniswap (34.01%) and Aave (30.74%) now holding the largest weights. The Smart Contract Fund removed Polkadot and added Hedera, with Ethereum and Solana weighing in at 30.22% and 29.87%, respectively. The AI Fund retained its existing holdings but adjusted weights, with Bittensor and NEAR Protocol accounting for 29.10% and 28.41%, respectively.
Grayscale noted these funds do not generate income and periodically distribute fund components to cover ongoing expenses, meaning the quantity of underlying assets represented by fund shares will gradually decrease over time.
Nasdaq-listed BioSig raises $1.1 billion to drive commoditization of commodity markets
According to The Block, Nasdaq-listed medical technology firm BioSig Technologies (BSGM) announced Monday it has entered a financing agreement worth up to $1.1 billion with an undisclosed institutional investor to advance its plan to bring commodity markets on-chain. The financing includes $100 million in senior secured convertible notes and a $1 billion equity credit facility. This follows BioSig’s recent merger with Bahamian firm Streamex Exchange Corporation, marking a strategic shift toward real-world asset tokenization. Henry McPhie, CEO of BioSig and co-founder of Streamex, said the company’s mission is to bring liquidity, transparency, and accessibility to the $142 trillion global commodities market.
KULR Technology Group secures $20 million credit line from Coinbase to accelerate Bitcoin accumulation
In an official announcement, KULR Technology Group (NYSE American: KULR) revealed today it has entered a $20 million credit facility agreement with Coinbase Credit, Inc., to support its strategic Bitcoin accumulation plan. This marks KULR’s first Bitcoin-collateralized credit instrument, providing non-dilutive capital at competitive interest rates. Since late 2024, KULR has made Bitcoin a core part of its financial strategy, committing up to 90% of excess cash to Bitcoin acquisitions.
Market Movements
Suggested Reading
On the ground in Yiwu: How hot is stablecoin adoption for cross-border payments?
This article explores the use of stablecoins in cross-border payments in Yiwu. Despite market rumors suggesting widespread stablecoin usage, field research shows most merchants are unaware of stablecoins, with only a few accepting them as payment. The article also analyzes the advantages, challenges, and factors influencing the real-world adoption of stablecoins.
Opinion: Pump.fun’s TGE is good news for Bonk and its ecosystem
This article discusses Pump.fun’s Token Generation Event (TGE) and its impact on BonkFun and the $BONK ecosystem. While Pump.fun was once a hot project in crypto, BonkFun’s rapid rise and strong market performance have positioned it as an industry leader. The article analyzes both projects’ tokenomics and market potential, arguing that BonkFun’s growth is more sustainable and competitive.
Rumors Stripe, a payments giant, is entering L1—what new applications should we expect?
This article examines the possibility that Stripe is planning to launch a Layer 1 blockchain (L1), which could be a milestone for the payments industry. By leveraging blockchain technology, Stripe could enhance its existing services and enable functionalities impossible under traditional systems—such as direct payments, micro-payment subscriptions, and automated short-term deposit management. This move could signal a paradigm shift for blockchain in payments.
IOSG: Insights and reflections on consumer-facing applications
This article explores the current state and future direction of the crypto market, focusing on how consumer-facing applications could become key drivers of growth. It argues that the crypto market has shifted from being tech-driven to user-experience-driven, and that consumer apps will play a crucial role in attracting Web2 users and expanding the market.
Reviewing bitchat: Jack Dorsey’s latest creation—Is this the 'twttr' moment for encrypted messaging?
This article covers Twitter co-founder Jack Dorsey’s new Bluetooth-based encrypted communication device called bitchat. Independent of networks or servers, it focuses on privacy protection and decentralized communication, suitable for various scenarios.
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