Overnight Market Highlights (July 3-4)
US Non-Farm Payrolls Surpass Expectations
- June Jobs Report: 147K new jobs vs. 110K forecast (Gold10)
- Revision: May figures adjusted upward from 139K to 144K
- Market Implications: Strong labor data may delay Fed rate cuts despite political pressure
Major Platform Updates
Binance Launches Institutional Lending
👉 Explore Binance's new lending features
- Eligibility: KYB-verified VIP5+ corporate accounts
Features:
- 4x maximum leverage
- Cross-account collateral aggregation
- Unified margin trading across spot/derivatives
Coinbase System Upgrade Rescheduled
- New Timing: August 2, 22:00 UTC+8 (3-hour duration)
Affected Services:
- Trading interfaces
- Deposits/withdrawals
- Card transactions
Funding & Strategic Moves
The Open Platform Raises $28.5M Series A
- Valuation: $1B post-money
- Investors: Ribbit Capital (lead), Pantera Capital
TON Development Focus:
- Telegram Wallet expansion
- Blockchain gaming/AI applications
Ondo Finance's $250M RWA Initiative
- Partner: Pantera Capital
Focus Areas:
- Tokenized treasuries ($14B current TVL)
- Dedicated L1 blockchain development
Regulatory & Tax Developments
Sen. Lummis Proposes Digital Asset Tax Reform
Key Provisions:
- $300小额交易免税门槛 (年上限$5K)
- Mining/staking tax deferral until disposal
- Market-based accounting for traders
- Projected Revenue: $600M (2025-2034)
Market Trends & Analysis
Stablecoins Dominate OTC Trading
- 2025 H1 Share: 74.6% of institutional volume
- Standout Performer: USDC transactions up 29x YoY
- Driving Factors: MiCA regulation, liquidity advantages
Whale Activity Alert
- Position: 1,495 WBTC acquired via循环贷 (avg. $69,162)
- Current Action: 723 sold at $95,678 (49% profit taken)
- Remaining Holdings: 754 WBTC ($82.6M)
FAQ: Rapid Crypto Developments
Q: How might strong jobs data affect crypto markets?
A: Reduced Fed dovishness could temporarily pressure risk assets, though macroeconomic strength ultimately supports adoption.
Q: What distinguishes Binance's institutional offering?
A: Its unified cross-account collateral system eliminates traditional silos between spot/derivatives positions.
Q: Why is USDC gaining traction in Europe?
A: MiCA's stablecoin provisions create regulatory certainty, while its 1:1 redeemability appeals to institutions.
Q: How does Lummis' bill help crypto miners?
A: By deferring tax obligations until asset disposal, it improves cash flow for capital-intensive operations.
Q: What's driving RWA investment growth?
A: Institutional demand for yield-bearing assets combined with blockchain's settlement efficiency.