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New York Mellon Bank will provide dollar reserve custody services for Ripple's stablecoin RLUSD.

3 hours ago

On July 9th, as per The Block, Ripple announced on Wednesday that it has chosen BNY Mellon to hold the U.S. dollar cash and U.S. Treasury bond reserves for its stablecoin RLUSD. The circulation of RLUSD has exceeded $500 million. As one of the largest custodian banks in the United States with approximately $52 trillion in assets under management, BNY Mellon will safely custody the reserve assets for RLUSD and assist in liquidity management. This action is intended to ensure that RLUSD holders can redeem dollars on a 1:1 basis. The redemption mechanism complies with regulatory standards similar to those of traditional money market funds. BNY Mellon established a dedicated digital asset unit in 2021 and officially started providing services to institutional-grade crypto clients in 2022.
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JPMorgan Chase: Trump's New Tariff Will Raise US Effective Tax Rate to 14.6%

On July 9th: Economists Michael Feroli and Abel Reinhard from J.P. Morgan released their latest research report. They estimated that following Trump's announcement this week to impose tariffs on 14 countries starting from August 1st, the average tariff rate in the United States will rise from the previous 13.4% to 14.6%. According to independent analysis by Deutsche Bank, the new average tariff rate could exceed 18%. Additionally, J.P. Morgan also pointed out that if Trump continues to advance other potential trade measures, such as reinstating the reciprocal tariffs proposed in April against other countries, adding new tariffs on copper products, or imposing tariffs on BRICS countries, the overall average tariff rate in the United States could further increase by up to 6 percentage points. (FX678)

3 minutes ago

H100 Group announced an increase in holdings of 46.93 BTC, bringing their total holdings to 294.5 BTC.

On July 9th, as per official channels, the Swedish-listed company H100 Group announced that it has boosted its holdings by 46.93 BTC. Currently, the total holding of Bitcoin amounts to 294.5 BTC.

3 minutes ago

MyStonks Obtains U.S. FinCEN MSB License, Compliance Goes Global in Digital Securities Market

July 9th. The decentralized stock token trading platform MyStonks announced that the platform has acquired the MSB (Money Services Business) license issued by the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN), officially obtaining the compliance qualifications for operation in the United States and its overseas territories. MyStonks has become one of the recently approved international digital securities platforms in the United States, marking a significant step for the platform in the global compliance layout. The U.S. MSB license is uniformly regulated by FinCEN and is a highly authoritative federal-level financial compliance qualification. Applying for an MSB license requires strict compliance with federal regulations such as the Bank Secrecy Act (BSA), the establishment of a sound Anti-Money Laundering (AML) compliance system, and has a very high threshold. This license is not only a legal prerequisite for U.S. and international financial service

3 minutes ago

Shield Wall: The GMX attacker has transferred 2000 ETH to a new address on Arbitrum

On July 9th, based on PeckShield's monitoring, the tagged address of the GMX attacker has transferred 2000 ETH (approximately $5.3 million) to a new address 0x99Cd...2DAe on Arbitrum. Additionally, the attacker also exchanged approximately 9 million USDC for around 9 million DAI on Ethereum.

3 minutes ago

pump.fun has not transferred any SOL to Kraken since June 10th.

On July 9th, as per the monitoring by LookOnChain, since June 10th, pump.fun has not transferred any SOL to Kraken for approximately one month.

3 minutes ago

GMX: Proposal to Disable Leverage and Limit Token Minting for GMX V1 Fork Project to Mitigate Risk

On July 9th, GMX issued an emergency notice indicating that all GMX V1 forked projects have come under attack. In order to mitigate the risk, the following actions can be taken: · Disable the leverage feature: One can call Vault.setIsLeverageEnabled(false) to turn it off; if using Vault Timelock, then call Timelock.setShouldToggleIsLeverageEnabled(false). · Set the maxUsdgAmounts of all tokens to "1": Utilize Vault.setTokenConfig or Timelock.setTokenConfig to prevent the further minting of GLP. It should be noted that this value must be set to "1" and not "0". Setting it to 0 indicates no limit, which would instead lead to the continuous exploitability of the vulnerability.

3 minutes ago