President Trump's "Big, Beautiful Bill" passed the House, delivering a major second-term victory for Trump.

The bill encompasses Trump’s domestic agenda, extending tax breaks to millions of American households and businesses that are projected to add trillions to the national debt. The legislation also introduces new tax relief for senior citizens and tip workers.

Beyond tax relief and healthcare cuts, the bill increases defense spending and adds a historic $150bn to fund border security and mass deportations.

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The U.S. House will hold “Crypto Week” starting July 14, with votes scheduled on the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act.

These bills address crypto regulation, restrict government-issued digital currencies, and promote blockchain innovation.

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BlackRock’s iShares Bitcoin Trust (IBIT) is now its 3rd highest-earning ETF, generating $191m annually—just $9bn in AUM short of the top spot.

Launched only 1.5 years ago, IBIT has outpaced over 1,190 other BlackRock funds, driven by strong inflows and a 0.25% fee. It now trails only IWF and EFA in revenue.

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The People’s Bank of China has received proposals from JD.com and Ant Group to approve the issuance of yuan-based stablecoins aimed at boosting the currency’s internationalization.

Ant is also preparing to apply for stablecoin licenses in Hong Kong and Singapore as part of its push to launch offshore RMB stablecoins.

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Tether earned $5.2bn in 2024 from interest on U.S. Treasuries, lending, and platform fees. As of 2025, its reserve backing consists of:

⚫ 79.7% U.S. Treasury bonds
⚫ 8.0% Other investments
⚫ 5.6% Cash and equivalents
⚫ 4.4% Bitcoin
⚫ 2.3% Gold

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Brazil’s 2025 tax reform introduces a flat 17.5% tax on all crypto capital gains, hitting small investors hardest by taxing even profits from foreign exchanges.

The new rules also apply to offshore wallets and cold storage, while DeFi activities, staking rewards, and NFT sales are now fully taxed.

Previously exempt fixed-income products like LCIs and CRIs will face a 5% tax, and the online betting tax rate will rise from 12% to 18% starting in October 2025.

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Russian state corporation Rostec will launch its own RUBx token and RT-Pay payment platform by the end of the year to enable secure digital transactions for both businesses and individuals.

The Tron-based RUBx token will be pegged 1:1 to the ruble, legally backed, integrated into the banking infrastructure, and audited by CertiK, with full compliance to Russian financial laws. Rostec is a government-owned conglomerate specializing in high-tech and defense industries.

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Chinese Chipmaker Nano Labs has bought 74,315 BNB tokens (worth $50m) at an average price of $672.45, as part of a $1bn plan to hold up to 10% of BNB’s supply.

This move brings the firm’s total digital asset reserves to around $160m.

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Daily transactions on Ethereum are approaching all-time highs, marking the first return to 2021 levels, surpassing 1.25m transactions per day.

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Whales have sold over 500,000 BTC (worth $50bn) in the past year, while institutions like ETFs and corporates have absorbed nearly 900,000 BTC—reshaping market control.

⚫️Institutions now hold approximately 25% of all circulating BTC (4.8m out of 20m)
⚫️Bitcoin volatility has dropped to a two-year low, with analysts projecting modest 10-20% annual gains instead of sharp rallies
⚫️If whales continue offloading and institutional inflows slow, the market could face a sharp correction

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Toncoin has announced an official partnership with the UAE to launch a 10-year Golden Visa program for eligible TON stakers.

The initiative targets high-net-worth individuals and crypto investors, offering long-term UAE residency and business privileges in exchange for sustained staking support for the TON network. The program aims to strengthen both the TON ecosystem and the UAE’s position as a crypto-friendly jurisdiction.

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💌💌💌💌💌
✔ This week's crypto market highlights:

⚫ Strategy faces class action lawsuits over $6bn Bitcoin losses
⚫ Coinbase named in Time's "100 Most Influential Companies" for 2025
⚫ Kazakhstan establishes state crypto reserve
⚫ Robinhood launches blockchain for tokenized stock trading
⚫ Kraken launches xStocks for 24/5 trading of tokenized U.S. stocks
⚫ Bitcoin reaches highest monthly close at $107,358
⚫ U.S. FHFA calls for probe into Fed Chair Powell
⚫ Trump's "Big, Beautiful Bill" passes the House
⚫ Rostec to launch RUBx token and RT-Pay platform by year-end
⚫ Toncoin offers 10-Year UAE Golden Visa for $TON stakers


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The UAE authorities have clarified that claims about granting 10-year golden residency to cryptocurrency investors are false.

In a joint statement issued by the ICP, SCA, and VARA, long-term residency is only granted to specific categories including real estate investors, entrepreneurs, outstanding talents, scientists, specialists, top students and graduates, humanitarian pioneers, and frontline workers

VARA stated that any licensed “company” is required to strictly adhere to visa procedures set by the Dubai government, and that TON is not licensed or regulated by the authority.

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