U.S. Ethereum Spot ETF Sees $1.9M Net Outflow Yesterday

On July 3rd, as per Coindesk, JPMorgan (JPM) strategists stated in a research report issued on Thursday that the stablecoin market is anticipated to reach $500 billion by 2028. In contrast to some more aggressive forecasts (projecting a market capitalization of $1 trillion to $2 trillion during the same period), this expectation seems to be relatively conservative. JPMorgan has presented a more cautious perspective on the industry's growth trajectory, highlighting that the primary impetus for the current usage of stablecoins still stems from "crypto-native demand" rather than broader acceptance in payment scenarios.

On July 3rd, the "End Crypto Corruption" amendment proposed by US Democratic Senator Merkley failed to gain approval. The original intention of this bill was to prevent elected officials from using their positions to make profits through involvement in cryptocurrency projects. However, it ultimately did not receive sufficient support in the Senate. The rejection of this bill reflects the increasingly intertwined relationship between the US political arena and the crypto market, raising concerns about political corruption and collusion. The Trump family has recently reaped profits from multiple cryptocurrency projects, amounting to approximately $620 million, which is nearly 10% of their net worth. Among them, the Trump family obtained about $390 million through the World Liberty token sale and $150 million in profits through Trump Meme Coin. Additionally, the Trump family holds a 20% stake in the crypto mining company American Bitcoin and is expected to generate more profits through a

On July 3rd, as reported by The Block, Robinhood CEO Vlad Tenev stated, "The promotion of tokenized stocks is the seed of a broader vision. These tokens are not technically the same as stocks, but still enable retail investors to follow the changes in company valuation. Users can view the specific mechanism in our terms." The brokerage's official website also explicitly indicates that these "stock tokens" are not actual company shares but rather a blockchain-based derivative contract whose price tracks the real stock's market value. Previously reported, OpenAI officially issued a statement denying authorization for Robinhood to launch related tokenized stocks. The so-called "OpenAI Token" does not represent company equity, nor has it established any partnership with Robinhood or endorsed any related projects. OpenAI emphasized that any transfer involving company equity must obtain official approval, and the company has not approved any such transactions so far and has urged the publi

On July 3rd, according to the monitoring of HyperInsight (accessible via https://t.me/HyperInsight), the "Three Bouts ETH Whale" which achieved a 100% winning rate. The short position of 50,000 ETH had its unrealized gains narrowed to $6.6 million. On June 11th, the whale held a short position of 40,000 ETH. When ETH dropped to $2,200, the unrealized gains exceeded $20 million, but no profits were taken. The current position is as follows: A short position of 50,000 ETH with 10 times leverage, with an entry price of $2,725 and a liquidation price of $2,830.

On July 3rd, U.S. Treasury Secretary Yellen declared that she anticipates that economic growth will surpass 3%. (Xinhua Finance)

On July 3rd, as per The Block, an analyst from Franklin Templeton's digital asset department cautioned that although the corporate crypto treasury trend has presented some upward potential, the "risk of a negative feedback loop" poses a "particularly perilous situation." An increasing number of public companies are adopting the crypto treasury model: raising funds through stocks, convertible notes, preferred stock, and other financing instruments to purchase and hold cryptocurrencies such as Bitcoin, Ethereum, Solana, etc., and including them in their balance sheets. Several companies have raised billions of dollars through various financing means, each with distinct risk-return characteristics. The analyst further stated that the rising cryptocurrency prices might also enhance the company's market value, creating a positive feedback loop that attracts more investors. However, Franklin Templeton warned that this model is accompanied by significant risks. If the market value-to-net ass