Bitpush editor's daily selected Web3 news:
【Reuters: Circle Applies for US Bank License, Intends to Custody USDC Reserves】
According to Reuters, stablecoin issuer Circle Internet Group (CRCL) has applied for a US national bank license. This move marks Circle's further integration into the traditional financial system after successfully completing its IPO this month.
If approved by the Office of the Comptroller of the Currency (OCC), Circle will be able to act as a custodian of its own reserves and hold crypto assets for institutional clients. However, Reuters noted that the license will not allow Circle to accept cash deposits or issue loans like traditional banks. The OCC-regulated entity will be named First National Digital Currency Bank, N.A.
Circle has long sought to obtain a US bank license, which could pave the way for traditional banking services such as deposits and loans. Previously, the company had denied rumors of seeking a national trust or industrial bank license.
On Monday, Bernstein analysts believed that Circle's USDC is expected to become the largest regulated stablecoin under the GENIUS Act, giving the company a "regulatory first-mover advantage". Circle's stock closed at $181.29 per share that day, with the company's market value exceeding $40 billion.
【Robinhood Launches Tokenized Stocks and Staking Services, Will Build Layer 2 Blockchain Based on Arbitrum】
Robinhood launched over 200 tokenized US stocks and ETFs for EU users on Monday, offering trading five days a week, 24 hours a day, supporting dividends, and with zero commissions.
CEO Vlad Tenev stated that as part of a broader growth plan, Robinhood will also distribute tokenized shares of private companies like OpenAI and SpaceX to EU users.
These tokenized stocks were initially issued on the Arbitrum network, but Robinhood is building its own Layer 2 blockchain based on Arbitrum. The chain aims to ultimately facilitate tokenization of real-world assets, 24/7 trading, and self-custody.
Additionally, by the end of this summer, EU users will be able to obtain crypto perpetual futures with up to 3x leverage through Robinhood via Bitstamp.
Robinhood has also launched crypto staking services in the US, initially supporting Ethereum and Solana, with the feature already online in the EU and European Economic Area.
Influenced by this news, Robinhood (HOOD) stock rose over 11% on Monday, breaking $92 and reaching a historic high.
【Gold Sees Largest Half-Year Gain Since 2007】
Gold has risen by over 25% in the past six months. As gold reached a historic high in the second quarter, gold prices in the first half of 2025 recorded the best performance since the second half of 2007. In the quarter ending June 30, gold rose 5.5%. Analysts say gold is currently consolidating around $3,300 per ounce after reaching a historic high. StoneX's Rhona O'Connell said in a report: "The easing of tensions in the Middle East and the signing of trade agreements have reduced tensions unfavorable to gold but may help silver."
【REX Shares Announces First Solana Staking ETF to List in the US】
REX Shares announced on X on Monday that an exchange-traded fund (ETF) tracking Solana's price and providing staking rewards to holders will begin trading this Wednesday (July 2). The fund claims to be the "first staking crypto ETF in the US!"
REX Shares and Osprey Funds submitted applications to the SEC in May to create C-corporation ETFs investing in Solana and Ethereum. These funds will also stake part of their assets to generate additional income.
With a more crypto-friendly regulatory environment after Donald Trump's presidency, the SEC is currently reviewing broader crypto ETF proposals, from SOL to DOGE. Additionally, the SEC is reviewing Grayscale's proposal to convert its digital large-cap fund to an ETF, with a deadline to approve the listing this Wednesday. The fund holds a basket of cryptocurrencies, including Bitcoin, Solana, and XRP.
The Rex-Osprey approach differs from other proposals by cleverly bypassing traditional approval procedures: unlike most ETFs, these funds choose to be taxable C-corporations. Thus, staking rewards will be taxed within the fund before being distributed to holders as dividends. As previously reported by The Block, both funds have management fees of 0.75%, but due to accumulated income tax, total fees will be higher in most cases.
【Democratic Senator Proposes Amendment: Aims to Prohibit Officials from Profiting through Crypto Promotion】
According to Fox Business News, US Democratic Senator Jeff Merkley from Oregon proposed an amendment to the "OBBB" bill, prohibiting elected officials from promoting or profiting from crypto tokens in which they have a financial interest. US Republican Senator Lummis from Wyoming opposed the amendment, saying it would severely damage US innovation and competitiveness and impair the government's ability to effectively understand and regulate digital assets.
【Metaplanet CEO: Bitcoin Yield Reaches 129.4% in Q2 2024】
Metaplanet CEO Simon Gerovich posted on X that Metaplanet's BTC yield continues to accelerate, with the trend strengthening. The BTC yield in the second quarter of this year reached 129.4%, surpassing the first quarter's 95.6%, and he looks forward to bringing more results to shareholders in the third quarter.
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