Bitpush Editor's Daily Selected Web3 News:
【Bit Breaks Through $116,000, Ethereum Reaches $3,000】
Market data shows that in the past 24 hours, Bit rose by over $5,000 intraday, reaching a high of $116,608.7, once again setting a new historical record.
Ethereum reached $3,000 per coin, the first time since early February this year.
【U.S. Treasury Officially Withdraws Controversial Crypto "Broker" Tax Rule】
According to The Block, the U.S. Treasury and IRS officially withdrew the controversial crypto "broker" tax rule on July 10, marking the end of a nearly four-year regulatory dispute. The original rule required non-custodial service providers, including decentralized exchanges, to collect and submit customer transaction information like traditional securities brokers, which sparked strong opposition from the industry.
Market analysts point out that this move will significantly alleviate compliance pressure on DeFi protocols, especially solving the practical difficulties of self-running blockchain protocols in collecting user information. It is also seen as an important signal of marginal relaxation in U.S. crypto regulation, potentially providing a more favorable space for decentralized financial innovation.
【Trump: Crypto "Breaking Through the Ceiling"】
U.S. President Trump stated on social media: "Tech stocks, industrial stocks, Nasdaq index hit historical highs! Crypto 'breaking through the ceiling'. Since Trump imposed tariffs, Nvidia's stock has risen 47%. The U.S. is imposing tariffs worth billions of dollars. The country is 'back'. Great honor! The Fed should quickly lower rates to reflect this strength. The U.S. should be 'at the top'. No inflation!!"
【Florida Attorney General's Office Investigates Robinhood Crypto Trading Promotions】
According to Bloomberg, the Florida Attorney General's office formally launched an investigation into Robinhood's crypto trading business on July 10, accusing the platform of misleading consumers in its promotional activities. Investigation documents show that Robinhood allegedly falsely advertised its platform as the "cheapest way to buy crypto", and the state attorney general has already issued a subpoena requesting marketing materials and internal pricing documents.
The investigation focuses on three core issues: first, the transparency of Robinhood's actual crypto trading cost structure; second, the match between platform promotional language and actual fees; third, whether there are deliberate attempts to conceal additional fees. Notably, this is Robinhood's second major regulatory challenge this year, having just reached a $10 million settlement with New York regulators two months ago regarding anti-money laundering compliance.
Market data shows that Robinhood's stock price dropped 3% immediately after the investigation news was announced.
【Polymarket Breaks $1.1 Billion in Trading Volume in June, Hitting Year's New High】
The Block data shows that Polymarket's trading volume reached $1.16 billion in June, a 9.4% month-on-month increase, creating the highest monthly trading volume since $1.26 billion in January.
Simultaneously, the number of new markets on Polymarket grew by 21.4%, reaching about 7,990 in June. This indicates that Polymarket's market diversification has been continuously improving in recent months, in stark contrast to the market landscape more focused on politics by the end of 2024.
On the other hand, Polymarket's total active traders in June decreased by 9.4% month-on-month, slightly above 242,000. Compared to the historical high of about 462,000 in January, June's trader numbers dropped by 47.6%.
【Shanghai State-owned Assets Supervision and Administration Commission Holds Learning Meeting on Crypto and Stablecoin Development Trends】
According to Cailian, the Shanghai State-owned Assets Supervision and Administration Commission held a central group learning meeting on July 10, focusing on the development trends and response strategies of cryptocurrencies and stablecoins. The party committee secretary and director He Qing pointed out the need to comprehensively implement the spirit of the 7th Plenary Session of the 12th Municipal Party Committee, adhere to innovation-driven development, maintain keen perception of emerging technologies, and strengthen research and exploration of digital currencies. Emphasize data-industry integration, explore blockchain technology applications in cross-border trade, supply chain finance, and asset digitization.
【Federal Reserve Governor Waller: Stablecoins Can Boost Overall Demand for U.S. Dollar】
Federal Reserve Governor Waller said on Thursday that stablecoins will enhance payment system competition, which is a good thing. At an event at the Dallas Federal Reserve Bank, Waller stated 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 payment field," Waller said. He also noted that stablecoins might suppress demand for U.S. paper currency but will enhance overall demand for the U.S. dollar.
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