The U.S. Senate Banking Committee Advances the "Financial Transparency and Regulatory Compliance Act"

Eric Trump, the second son of Donald Trump, posted on X: "ETH is surging strongly! Glad to see this! Cryptocurrency is the future."

On-chain investigator ZachXBT has published a post stating that over the past 48 hours, an entity originally funded by the LAB team deposited 18.4 million LAB tokens (worth roughly $18.3 million) into Aster and has been continuously selling them on decentralized exchanges (DEXs). This has caused LAB’s price to crash from $1.2 to $0.55, a total decline of 54%. ZachXBT noted that the entity received more than 196 million LAB tokens from the LAB team in April 2026, and gradually transferred these tokens to multiple Bitget deposit addresses. In May, it withdrew around 100 million LAB from Bitget to 10 separate addresses. Since market data at the time showed no independent buyer building such a large position, ZachXBT believes these addresses remain controlled by the same entity. The tokens in question had remained dormant until July 10–11, when they began being transferred to Aster for sale. Currently, the entity still holds approximately 81.5 million LAB tokens. ZachXBT also pointed out that in May this year, he released an investigation accusing the LAB team of opaque private placement lending and over-the-counter (OTC) transactions, unilaterally modifying token unlock rules, controlling over 95% of the token supply, and engaging in abnormal market making practices. He argued that LAB plunged this week amid market rumors ahead of unlocks, while the team only attributed the price drop to a “large market participant”. Additionally, he criticized Bitget, Binance, and Gate for failing to take action against the relevant market manipulation, leading to user losses.

According to monitoring by Onchain Lens, two on-chain addresses suspected to belong to the same entity purchased 6,358 ETH for approximately 11.59 million DAI, at an average transaction price of around $1,823. Onchain Lens stated that the relevant funds may belong to hackers, and the involved addresses are 0x18B44C68eA2Cd6B1E59731af8e49E62e90E92E66 and 0x5657de5CeBC75eca6B97a99A864a3ef07ed11e55.

Crypto KOL Nikita disclosed that he tested the same €9.69 transaction across six crypto debit cards in Europe: Ether.fi, Plasma, Backpack, Lava, Jup Mobile, and KAST. After accounting for exchange rates, fees, and cashback, Ether.fi ranked first with an actual cost of $10.72, Plasma came second at $10.93, and Backpack placed third at $11.07. The test found that actual transaction costs varied by roughly 5% across the cards, driven mainly by foreign exchange spreads, fees, and cashback mechanisms. Ether.fi claimed the top spot for the second consecutive test thanks to its competitive exchange rates and on-chain cashback; Plasma, while its exchange rate lagged behind some newer offerings, held onto second place via its 3% cashback. KAST, due to unfavorable exchange rates and extra fees, was the most costly product in the test for the second straight time.

With all four semi-finalists of the 2026 US-Canada-Mexico World Cup confirmed, prediction market platform Predict.fun has updated its latest World Cup winner market accordingly. As of press time, the market assigns Argentina a roughly 20% chance to lift the FIFA World Cup trophy, France 39%, Spain 19%, and England 20%, with traders overall favoring France to win the tournament. The four semi-finalists are Argentina, France, Spain, and England, all traditional powerhouses in global football. Argentina and France are expected to maintain their strong form from the past two World Cups, Spain advanced to the last four behind a young squad, while England returned to the semi-finals led by key players including Harry Kane and Jude Bellingham. As the tournament enters the semi-final stage, trading activity in the prediction market for the champion continues to surge, and each team’s championship odds will adjust in real time as matches unfold.

The U.S. military announced it has completed its third round of military strikes against Iran this week. The operation deployed land-based and carrier-based fighter jets, drones, and naval vessels, which used precision munitions to strike around 140 Iranian military targets, including missile and drone bases, naval capability facilities, ammunition storage sites, communication networks, and coastal surveillance locations. U.S. Central Command stated that it has struck more than 300 targets total this week as directed. The command also emphasized that commercial shipping in the Strait of Hormuz, a key international maritime corridor, remains uninterrupted, signaling that despite escalating military conflict, this vital energy transport route has not been fully disrupted. This is the U.S. military’s third large-scale operation against Iran this week, following earlier strikes on roughly 90 coastal targets and 170 military sites. The development shows that U.S.-Iran military confrontation is rapidly escalating, with conflicts expanding from initial areas around the strait to a broader range of Iranian military facilities.