A certain contract trade with a total profit of over $73 million executed a smart money high leverage long position on ETH, BTC, HYPE, and PEPE.

On July 22nd, the White House Press Secretary Levitt declared that Trump had no intention of firing Powell. Powell was obligated to cut interest rates. "We are not worried about the deficit issue resulting from the tax cut bill."

July 22nd: The digital financial technology group Mercurity Fintech Holding Inc. (with the NASDAQ symbol: MFH) saw a plunge of more than 70%, resulting in a market value dropping to $89 million. Before this, Mercurity Fintech Holding Inc. announced an equity credit agreement worth $200 million with Solana Ventures Ltd. to initiate a digital asset treasury strategy based on the Solana blockchain.

On July 22nd, as per Fox News, U.S. House Representative Anna Paulina Luna has submitted criminal charges to the Department of Justice, claiming that Federal Reserve Chair Powell committed perjury on two occasions. In the letter, Luna stated: "On June 25, 2025 (it should likely be 2023), Powell gave sworn testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the renovation of the Eccles Building of the Federal Reserve. During his testimony, he made several materially false statements." Luna also added: "Furthermore, in a letter to the Director of the U.S. Office of Management and Budget (OMB) Russell Vought, Powell asserted that the change in the project's cost from $1.9 billion to $2.5 billion was insignificant. Nevertheless, the documents reviewed by congressional investigators show that the scope of this project and the cost overrun are not of a minor nature or substance." Perjury is subject to a fine and a maximum prison term of 5 years. (Sina

On July 22nd, Paul Atkins, the new chair of the SEC, stated in an interview with CNBC that ETH is not a security.

On July 22nd, Coinbase officially declared that commencing from July 21st, 2025, U.S. users will be able to trade CFTC-regulated perpetual futures through Coinbase Financial Markets (CFM). The largest globally traded derivative product type is about to land on the platform. Coinbase has mentioned that for several years, U.S. cryptocurrency traders could only observe their international counterparts making use of one of the most popular tools in the digital asset market - perpetual futures. This innovative derivative product provides higher leverage and eliminates the need to handle monthly expiration matters, accounting for 90% of the global cryptocurrency trading volume. Due to a complex regulatory environment, U.S. traders have been unable to participate. Nevertheless, this situation is on the verge of changing.

On July 22nd, Fox News announced that Federal Reserve Chairman Powell had been criminally indicted by an ally of Trump in the House. (Financial Times)