Musk Indicates Potential Lawsuit in Epstein Case Involving Elite
On July 9th, Musk responded in X regarding "whether to mercilessly sue the elite involved in the Epstein case" and said: "100%". This morning, previously Musk had stated: "If Trump doesn't release Epstein's records, how can people have confidence in him?" On June 6th, Musk had said: "It's time to drop the real bombshell: Trump is in Epstein's files. This is the real reason why these files have not been made public." Subsequently, in an attempt to ease relations with Trump, Musk deleted relevant revealing tweets.
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The stablecoin USDF has now re-anchored to $0.9951 USD
On July 9th, last night, Falcon Finance's stablecoin USDF briefly deviated from its peg. It dropped to $0.9432 and then recovered to $0.9951.
Falcon Finance, which is backed by DWF Labs, responded yesterday to the "brief depegging of the USDF stablecoin": The reserve overcollateralization ratio is 116%.
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Coinbase CEO: House Expected to Pass CLARITY Act Next Week, U.S. Ready to Embrace Cryptocurrency
On July 9th, Brian Armstrong, the CEO of Coinbase, posted that "the United States is prepared to embrace cryptocurrency. The House of Representatives is expected to pass the CLARITY Act next week, and the Senate is expected to follow suit shortly afterwards. This will enable the bill to become law once it is signed by President Trump."
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A Michigan Man Used Cryptocurrency to Fund Terrorist Organization, Faces Up to 10 Years in Prison
July 9th. As per an official announcement from the U.S. Department of Justice, a 26-year-old man hailing from Michigan, Jibreel Pratt, has pleaded guilty to two charges today. These charges involve the intention to donate cryptocurrency to the foreign terrorist organization ISIS. Under the plea agreement, in February 2023, Pratt had a conversation with a confidential informant whom he thought could assist him in traveling abroad to join ISIS. In the subsequent months, Pratt expressed his desire to join ISIS and recorded a video vowing allegiance. In March and May 2023, Pratt sent cryptocurrency to the informant, with the intention of using that money to support violent activities. Sentencing is slated for November 13, 2025, and Jibreel Pratt is facing a maximum prison term of 10 years, a fine of $250,000, or both.
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Trader Eugene: $110,000 Still the Ultimate Resistance Level for Bulls, Market Will Choose Direction This Week
On July 9th, Trader Eugene made a post on his personal channel, indicating that "$110,000 remains the ultimate resistance level for the bulls, and a breakthrough direction is anticipated this week. The result is typically binary: in the event of a breakdown, the price will promptly decline to $100,000; in the case of a breakout, I believe we will reach a new high of $120,000 and then enter a period of consolidation. In any case, it will be an exhilarating week."
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Coinbase Teams Up with Cantina to Launch $5 Million Bug Bounty Program
On July 9th, the cryptocurrency exchange Coinbase joined forces with Cantina to launch a $5 million bug bounty program. This program mainly focuses on the security of Coinbase's on-chain products and the smart contracts of its Base blockchain. Vulnerabilities submitted through the Cantina platform will be evaluated by Web3 security experts. The reward criteria are determined based on the replicability and technical impact of the vulnerabilities.
Before this, Coinbase and Cantina had already cooperated on several key protocol components, such as validation pools, error proof audits, Nitro validators, and more.
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