Trump Family-Linked Mining Firm American Bitcoin Raises $220 Million for Bitcoin Purchase and Mining Equipment

On July 1st, the U.S. SEC postponed its decision regarding Bitwise's Ethereum spot ETF to incorporate staking functionality.

On July 1st, James Seyffart, a Bloomberg ETF analyst, released the most recent prediction regarding the probability of a cryptocurrency spot ETF being approved by the end of 2025. It is expected that there will be a wave of new ETF approvals in the second half of 2025. Among them, the approval probabilities for a Composite/Index Fund, Litecoin, SOL, and XRP are 95%. For Dogecoin, HBAR, Cardano, Polkadot, and Avalanche, the expected approval probability is 90%. The estimated approval probability for SUI is 60%, and for Tron/TRX and Pengu, it is 50%.

July 1st: The stock of Tesla (TSLA.O) declined by more than 7% in after-hours trading. Trump sent out a tweet suggesting that perhaps the Office of Inspector General should examine the subsidies obtained by Musk and his company. (FX168)

On July 1st, Musk replied to Trump's remarks about the need for the Department of Government Efficiency to focus on subsidies, saying, "Cut them all right now." Earlier reports showed that U.S. President Trump stated that Musk was well aware before strongly endorsing him for president that he was strongly opposed to the EV mandate. Elon may have received more subsidies than anyone in history. Without subsidies, Elon might have had to close his businesses and return to South Africa. Perhaps the Department of Government Efficiency (DOGE) should seriously consider the subsidies that Musk and his companies have received.

On July 1st, based on Coinglass data, if Bitcoin drops below $106,000, the cumulative long liquidation intensity on mainstream CEXs will reach $1.07 billion. On the other hand, if Bitcoin surges above $109,000, the cumulative short liquidation intensity on mainstream CEXs will reach $1.157 billion. BlockBeats Notes: The liquidation chart does not display the exact number of contracts to be liquidated or the exact value of the contracts being liquidated. The bars on the liquidation chart actually represent the significance of each liquidation cluster in relation to neighboring clusters, that is, intensity. Therefore, the liquidation chart shows the extent to which the asset price reaching a certain level will be impacted. Higher "liquidation bars" indicate that when the price reaches that level, a more intense reaction will occur due to a liquidity cascade.

On July 1st, U.S. President Trump declared that Musk was well aware long ago when strongly backing my presidential campaign that I firmly oppose the electric vehicle mandate. Up to now, Musk might have received more subsidies than anyone in history. Without subsidies, Musk might have to close stores and return to South Africa. Perhaps the Department of Government Efficiency (DOGE) should examine carefully the subsidies that Musk and his company have obtained.