Point of View: The Federal Reserve Has Over-Eased, with a 65% Chance of Stagflation in the United States

Crypto journalist Eleanor Terrett revealed that, according to multiple industry sources, the White House has reached an agreement on the ethics provisions of the CLARITY Act and sent the relevant text to some Republican senators that afternoon. The specific details of the agreement remain unclear, but industry insiders expect the revised bill text to likely be released soon following progress on the ethics provisions.

Grayscale has filed a registration statement for the Grayscale Worldcoin ETF with the U.S. Securities and Exchange Commission (SEC), aiming to launch the first ETF linked to Worldcoin (WLD). The fund will directly hold WLD, the native token of World Network, and track its value via passive investment, net of fund fees and other liabilities. If approved, the ETF will trade on Nasdaq under the exchange’s general listing standards. The Bank of New York Mellon will serve as transfer agent, while crypto custodian BitGo Bank & Trust will act as asset custodian. WLD currently has a market capitalization of around $1.3 billion, ranking 57th among crypto assets. Worldcoin was later renamed World, co-founded by OpenAI CEO Sam Altman, with operations spanning biometrics, crypto assets, and blockchain identity verification. This filing marks Grayscale’s latest move to expand its crypto investment product lineup; the firm has previously launched Bitcoin and Ethereum ETFs, and filed applications for funds linked to assets including Dogecoin, Solana, and Chainlink.

According to Fox News, senior U.S. officials said U.S. President Donald Trump is expected to decide in the coming days whether to expand military operations against Iran and resume full-scale combat. The officials stressed that no final decision has been made yet. If Trump orders a resumption of full-scale military operations, their scale and intensity will "far exceed" the U.S. airstrikes that began on July 7 and lasted nine consecutive nights; those previous strikes targeted primarily Iranian military assets linked to operations around the Strait of Hormuz. One official also confirmed that the U.S. military has so far largely avoided striking targets near Tehran or Iran’s nuclear facilities. "If full-scale military operations resume, this situation could change," the official said. (Jinshi)

Solv Protocol tweeted that its BTC+ contract on BNB Chain was attacked on July 13. The attacker stole the deployer’s private key, then upgraded the BTC+ minting proxy contract on BSC to mint unauthorized BTC+ tokens. The team completed an emergency response within 3 hours, isolating the malicious contract and freezing, burning, or segregating all unauthorized BTC+ tokens, with all underlying assets remaining secure. As a preventive measure, BTC+ deposits and redemptions have been suspended and are expected to resume in two weeks. The team has since upgraded the deployer’s security measures, rotated all affected access credentials and signing keys, and launched a full external re-audit. A detailed post-mortem analysis report will be released later.

Despite the stock’s sharp, ongoing pullback, analysts maintain a bullish outlook on Japanese storage chip maker Kioxia, expecting its shares to resume their upward trend as supply-demand conditions improve. Currently, analysts’ average target price for Kioxia stands at 121,959 yen, 130% higher than its current share price. Kioxia’s stock fell to 52,110 yen last Friday, half of its all-time high set less than a month ago. Kazuyoshi Saito, senior analyst at Iwai Cosmo Securities, said: “Fundamentals have not changed at all. Backed by strong AI demand, the company’s solid profitability and growth prospects remain intact.” He set a target price of 132,000 yen, adding: “Once supply-demand distortions caused by factors like Korean ETFs ease, positive drivers including strong performance will push the stock higher.” (Jin10)

According to on-chain analyst Yu Jin’s monitoring, a crypto whale transferred 20 million USDC to Binance, then purchased 10,501 ETH at an average price of $1,904, and withdrew all of the ETH to an on-chain wallet.