At the opening of the US stock market, all three major indices fell, with storage concept stocks plunging sharply.

According to monitoring by Yu Jian, the largest long positions held by seven addresses on Hyperliquid, valued at $415 million, are currently facing an unrealized loss of up to $91.46 million. These addresses currently hold long positions of 120,000 ETH (worth approximately $271 million) and 2,000 BTC (worth around $144 million). Their actual leverage is not high, so there is no immediate liquidation risk. The liquidation price for ETH stands at roughly $1,160, while BTC’s liquidation price is approximately $47,000.

Ethereum co-founder Vitalik Buterin published a post announcing that the Ethereum Foundation (EF) has cut its annual budget by roughly 40% as part of its fiscal transition plan. Per its previously released fund management policy, EF is gradually shifting from a "spending organization" to an endowment-based model, with the goal of reducing its annual expenditure ratio from around 15% to roughly 5% after 2030. The foundation noted it will accept unavoidable personnel and resource adjustments, acknowledging the loss of some capabilities and experience. In this restructuring, EF has cut about 54 employees, accounting for roughly 20% of its total team. Vitalik added that many of these departing members may still contribute to the Ethereum ecosystem as external participants in the future. Meanwhile, the foundation is pivoting its strategic focus to a more "lightweight" approach to protocol governance and development, including advancing the long-term "Strawmap" roadmap covering core protocol upgrades such as consensus mechanisms, privacy technologies, account models, and state structures, and pushing Ethereum toward its third phase of evolution. In structural adjustments, EF is moving away from its "multi-client redundancy first" model, shifting to development methods centered on specialized division of labor and AI-assisted formal verification. The Privacy and Scaling Exploration (PSE) research team will be restructured, moving from exploratory R&D to focused engineering implementation, while the scale of ecosystem events like Devcon will be gradually reduced. Additionally, EF will reduce investment in large cross-domain projects going forward, placing more emphasis on protocol security and high-value improvements, while encouraging more innovative work to be carried out outside the foundation. Despite the leaner path, Ethereum will continue to reinforce its core positioning as a highly censorship-resistant, long-term stable protocol.

BlackRock officially stated in a post that Bitcoin’s role in investment portfolios is evolving, and it can be viewed as a complementary diversification tool. The firm noted that, while maintaining appropriate risk tolerance, a moderate allocation (typically around 1%–2%) may help enhance a portfolio’s return potential.

According to monitoring by Onchain Lens, a wallet linked to Andreessen Horowitz (a16z) withdrew 12,780 ETH (approximately $21.22 million) from Binance.

Polychain Capital senior partner Josh Rosenthal stated in a post that, “After nearly five years working at Polychain Capital, I’ve decided to leave. I was fortunate to witness up close the birth and growth of some companies that have defined the cryptocurrency industry, for which I will always be grateful. I am now embarking on a new venture and look forward to sharing more details in the near future.”

The U.S. House of Representatives Committee on Financial Services will hold a hearing on the Clarity Act on July 17.