Federal Reserve Chair Nominee: Interest Rates Should Be Lowered Further

July 8th. As per official channels, the Sui chain DeFi project NAVI Protocol declared that subsequent to forging a partnership with OKX, an exclusive xBTC liquidity pool has been launched on the Sui network. Presently, the incentive measures for the xBTC liquidity pool have been initiated on NAVI Protocol and have been broadened to encompass users who provide xBTC and borrow SUI. It was originally restricted to borrowing USDC. Now, by supplying xBTC through OKX Earn and borrowing SUI or USDC on NAVI, one can fully engage in this incentive activity. Note: Supplementary incentives are solely provided through OKX Earn. Therefore, it is necessary to utilize the OKX App to make deposits on NAVI.

On July 8th, according to Bloomberg, U.S. Treasury Secretary Yellen declared on July 7th local time that he anticipates meeting with Chinese officials within the coming weeks in order to advance discussions between China and the U.S. on trade and other matters. Yellen said, "I will be having a meeting with my Chinese counterpart at a certain point in the next few weeks." "We have had extremely good discussions in Geneva and London previously, with both sides demonstrating a high degree of respect." Yellen also noted that if China is willing, the U.S. and China can extend cooperation into more fields and that the two sides will discuss expanding the scope of cooperation beyond trade. (Global Times)

On July 8th, CryptoQuant analyst Axel Adler Jr. made a post stating that "Whenever the 30-day percentile funding rate on mainstream exchanges drops to around the 50% level (in September 2023, May 2024, September 2024, and April 2025), it corresponds to a local bottom phase, followed by a market recovery and upward trend." After the last bottom in April 2025 and the subsequent rise to $112,000, the current funding rate percentile is at 54%. Based on this pattern, the bullish trend still has momentum, and the next focus will be the 80% level. Breaking above this level may imply market exuberance and pose a risk of correction.

On July 8th, Musk tweeted that he will conduct a live stream of the unveiling of Grok 4 on Wednesday evening at 8 pm PT (Thursday morning at 11 am Beijing time).

July 8th. As per The Block, the Dubai Financial Services Authority (DFSA) has given its approval to the QCD Money Market Fund (QCDT) as a tokenized money market fund within the Dubai International Financial Centre. This fund is a project spearheaded by Qatar National Bank and DMZ Finance. DMZ Finance stated in a press release issued on Monday that it will serve as a co-sponsor, offering professional tokenization technology infrastructure. Meanwhile, QNB will take the lead in the fund's issuance and investment management. The design of QCDT is aimed at supporting various institutional applications in the financial sector. For instance, banks can utilize it as eligible collateral, and centralized trading platforms can employ it as a mapped collateral asset. Additionally, the fund can act as a reserve-backed asset for stablecoins and provide underlying infrastructure for Web3 payment systems.

July 8th. According to the official announcement, Gate is set to launch BOOM perpetual contract trading (settled in USDT) at 20:05 on July 8th (UTC+8), with support for 1-20x leverage.