The United States lifts sanctions related to Iran.

Jeremy Allaire, founder and CEO of USDC issuer Circle, stated during tonight's earnings call: "We have renewed our agreement with Coinbase on existing terms, ensuring USDC remains central to all of Coinbase's product lines. We also look forward to expanding our USDC network via distribution agreements with strategically aligned partners." The two firms signed the "Collaboration Agreement" on August 18, 2023. As the sole issuer of USDC, Circle splits interest income generated from USDC reserve assets with Coinbase: Coinbase receives 100% of the reserve interest from USDC held on its platform, and 50% of the remaining reserve interest from USDC held off its platform. The agreement has an initial three-year term with an automatic renewal mechanism. Per market data from BIT (bit.com), US-listed CRCL was down 2.8% intraday, trading at $61.5.

Bank of America CEO Brian Moynihan reiterated his firm’s forecast that the Federal Reserve will implement three interest rate hikes in September, October, and December, stating that the labor market remains strong while inflation still needs to decline further. He also noted that spending patterns of high-income and low-income consumers are converging, which he views as a positive signal for the economy.

According to Fox News, the U.S. Department of the Treasury has removed some Iran-related sanctions from its website. A Treasury official stated: "This does not represent any shift in U.S. policy toward the Iranian government, the Islamic Revolutionary Guard Corps-Quds Force, any designated terrorist organization, or their supporters or proxies. Today’s removal is part of normal administrative procedures, carried out after a review of specific circumstances related to Baghdad Aviation." Earlier, the Office of Foreign Assets Control (OFAC) under the U.S. Treasury Department released an "Update on Revoking Counterterrorism Designations," lifting some Iran-related sanctions, including removing Fly Baghdad (Baghdad Aviation) from the sanctions list. The airline had previously been added to the counterterrorism sanctions list due to its ties to the Islamic Revolutionary Guard Corps-Quds Force.

Jeremy Allaire, founder and CEO of Circle, the issuer of USDC, stated during tonight’s earnings call: “We have renewed our agreement with Coinbase under existing terms, ensuring USDC remains central to all of Coinbase’s product offerings. We also look forward to expanding our USDC network via distribution deals with strategically aligned partners.” The collaboration agreement between Circle and Coinbase, signed on August 18, 2023, stipulates that Circle—USDC’s sole issuer—shares interest revenue generated from USDC reserve assets with Coinbase: Coinbase will receive 100% of reserve interest from USDC held on its platform, plus 50% of the remaining reserve interest from USDC held off its platform. The agreement has an initial three-year term and an automatic renewal mechanism.

Perpetual decentralized exchange (Perp DEX) Trade.xyz on the Hyperliquid chain has purchased HYPE for the first time using its HIP-3 revenue, acquiring 2,000 HYPE tokens worth approximately $108,000.

HIP-3 decentralized trading platform Trade.xyz has launched Unitree’s pre-IPO perpetual contract, currently quoted at $69, corresponding to a post-listing market cap of approximately $27.9 billion. Separately, HIP-3 decentralized trading platform Paragon also launched Unitree’s pre-IPO perpetual contract yesterday, with a current quote of $68.8. The UNITREE pre-market perpetual contract price represents the USD value of one ordinary Unitree share. Unitree’s STAR Market IPO plans to issue at least around 40.45 million shares, accounting for 10% of its total post-issuance share capital, with post-issuance total shares standing at approximately 404.5 million. The current contract price implies a market cap of $27.9 billion, equivalent to around 190.6 billion RMB. Unitree’s IPO prospectus targets an issuance valuation of approximately 42 billion RMB (around $5.8–6.2 billion), which is expected to deliver a 4.5x gain for new share subscribers after listing. Unitree is set to hold its initial public offering on the Shanghai Stock Exchange’s STAR Market, with its net subscription date scheduled for August 10, 2026.