J.P. Morgan: Federal Reserve Unlikely to Cut Interest Rates in the Near Term

On July 1st, according to HTX market data, HFT witnessed a surge of more than 110% in the past 24 hours, and its market capitalization rose to $83 million.

On July 1st, according to Dune Data, the tokenization platform xStocks created by Backed went live the day before. Since the tokenization of stocks, the total trading volume has been $1,574,670. The number of trading users reached 1551, and the number of tradable assets reached 61. The details are as follows: · The trading volume of NVIDIA reached $421,147; · The trading volume of MicroStrategy reached $417,505; · The trading volume of Tesla reached $330,531; · The trading volume of Circle reached $283,643.

On July 1st, strategists at Lombard Odier continue to anticipate that the US dollar will weaken over the next 12 months. In a research report, they stated that although some consolidation might take place, the likelihood of a more substantial recovery appears to be smaller. Investors are moderately shifting from US assets to Europe and Japan, which brings downside risks to the dollar; however, the recent poor performance seems to have persisted. They indicated that the slowdown in the US economy and the possibility of unexpected growth in other regions in 2026 will lead to a weaker dollar and a higher Euro/USD rate. "Our fair value estimate for Euro/USD is approximately 1.15. Considering the higher foreign exchange volatility and more geopolitical uncertainty, a broader range of 1.15 to 1.20 would be more prudent."

On July 1st, the Hong Kong-listed company Sino Biopharmaceutical Limited (00399) announced that as of June 30, 2025, the company (acting as the buyer) had reached a Memorandum of Understanding with the seller (Northwestern Foundation) and Conflux regarding the potential acquisition of the entire equity of the target company, contingent upon the target company completing the acquisition of Conflux assets in accordance with an agreement with the company. Conflux is a limited company registered in Hong Kong, China, primarily engaged in blockchain technology development. The target company is intended to be a limited company to be registered in the Cayman Islands by the seller and wholly owned by the seller. The company is actively seeking new business opportunities to diversify its revenue sources, implementing a strategic plan to enhance performance and planning to expand its business into blockchain technology and enter the digital innovation industry. Reaching the Memorandum of Under

On July 1st, the world-renowned cryptocurrency exchange Gate announced that its registered user base has officially exceeded 30 million. This marks a continuous growth in the platform's global user base and lays a solid foundation for its ambition to become the "next-generation super unicorn exchange." With the user base surpassing 30 million, Gate's platform ecosystem effect becomes more prominent. It ranks second globally in 24-hour spot trading volume. The currency trading volume and liquidity remain in the global top three, and its contract products are among the industry leaders. The latest total reserve value has reached $10.453 billion, with a total reserve ratio of 123.09%. Behind this remarkable performance is Gate's comprehensive evolution in strategic upgrades, brand reshaping, and ecosystem development.

On July 1st, the first Bitcoin reserve company in Europe, The Blockchain Group, raised approximately 11 million euros in order to augment its BTC holdings.