Trump Signs Executive Order Extending Tariff Deadline to August 1

On July 8th, as per Cointelegraph, the BlackRock Bitcoin Spot ETF (IBIT) is in possession of more than 700,000 BTC, which is approximately worth $75.5 billion. According to Thomas Fahrer, the co-founder of Apollo, the BlackRock Bitcoin Spot ETF (IBIT) holds 700,307 BTC.

July 8th. Europe's first Bitcoin reserve company, The Blockchain Group, managed to raise around 3 million euros (equivalent to approximately 3.52 million US dollars) in order to augment its holdings of BTC.

July 8th: In the afternoon, the Hong Kong stock concept stocks related to stablecoins witnessed a continuous rise. Guotai Junan International saw an increase of more than 18%, OSL Group rose nearly 14%, MultiTech Group went up by more than 9%, and China Everbright Holdings increased by more than 5%.

On July 8th, the cryptocurrency off-chain settlement platform BridgePort concluded a $3.2 million seed round of financing. It was led by Further Ventures and involved Virtu, XBTO, Blockchain Founders Fund, Fun Fair Ventures, and Humla Ventures. BridgePort offers a middleware solution that links trading platforms, custodians, and trading firms. Its goal is to simplify fund allocation and post-trade processes by addressing issues like the requirement for pre-funding, credit risk, and inefficient settlement through real-time messaging and collateral management.

On July 8th, as per Coindesk, Eric Trump, the son of former US President Donald Trump, is scheduled to deliver a speech at the BTC Asia conference which is slated to be held in Hong Kong in August of this year, thereby maintaining the Trump family's active engagement in the cryptocurrency conference arena. Hong Kong is in the process of advancing several pieces of cryptocurrency-friendly legislation through its Legislative Council. Even prior to the US passing the GENIUS Act, Hong Kong had introduced local stablecoin legislation. Earlier this year, Eric Trump gave a speech at the Consensus conference held in Toronto. He extolled Bitcoin's liquidity, regarded it as being superior to real estate, and referred to it as "digital gold." He also expressed his support for the crypto community, claiming that the same set of people who had suppressed the cryptocurrency industry during the Biden administration had also targeted his father, Donald Trump.

On July 8th, based on CME's "FedWatch" data, the likelihood of the Fed maintaining the interest rate unchanged in July is 94.8%, while the probability of a 25-basis-point rate cut is 5.2%. The probability of the Fed keeping the interest rate unchanged in September is 35.9%. The cumulative probability of a 25-basis-point rate cut is 60.9%, and the cumulative probability of a 50-basis-point rate cut is 3.2%.