Paradigm led M1X Global's seed round to advance sovereign debt tokenization infrastructure.

Over the past seven days, the stablecoin supply on Robinhood Chain, the blockchain platform operated by Robinhood, has surged 155% to $246.97 million. Stablecoins now account for 93% of the chain’s total value secured (TVS) of $266.35 million, while the network’s total value locked (TVL) has risen 172% over the same period. Data shows that of the $266.35 million in total assets on Robinhood Chain, roughly $212.5 million is native-issued assets, with an additional $53.85 million transferred into the network via cross-chain bridges in the past week.

Harlan Ullman, chairman of Kylowen Group and a retired U.S. Navy officer, described the current U.S.-Iran tensions as "very serious" and warned they could escalate into a regional war. "This is an extremely dangerous moment—anything could happen, including further escalation. The coming days are crucial, and the situation is very grave right now. However, both sides have motives to exercise restraint, as a large-scale regional war benefits no one," Ullman said. Ullman blamed Iran for the attacks on vessels in the Strait of Hormuz, arguing the strikes reflect Tehran’s well-calculated strategic considerations. He noted the timing of the attacks coincided with the multi-day funeral of the assassinated Iranian top leader and the NATO summit in Turkey. Tehran may believe Washington will face constraints in its response, as any military counterattack could spill over to funeral processions across the country—an outcome that would be viewed internationally as a war crime. "In my view, Iran’s move was deliberate, aimed at increasing pressure on the U.S. to boost its bargaining power in negotiations," Ullman stated. He added that the tensions could drive up global oil prices, which in turn "will put greater pressure on Trump."

According to Bitget market data, South Korea’s KOSPI index plunged 4% intraday. SK Hynix is currently up 1%, while Samsung fell 3.55%.

Billionaire investor Jeremy Grantham, long renowned for warning of asset bubbles, has publicly cast doubt on SpaceX’s current roughly $2 trillion valuation, claiming the company’s AI business, Mars program, and long-term growth thesis all carry major flaws. He stated his "90% bet" is that SpaceX will eventually face a historic collapse. Grantham called it "incredible" that SpaceX attributed around 90% of its addressable market to AI in its IPO prospectus, adding that its AI products lack competitiveness compared to those of OpenAI and Anthropic. Still, mainstream Wall Street institutions remain broadly optimistic about SpaceX. With the company officially added to the NASDAQ-100 Index, it is expected to draw more passive capital inflows. Several investment banks including Goldman Sachs, JPMorgan Chase, and Morgan Stanley have issued positive ratings, noting that Starship, Starlink, and its AI business will serve as core drivers of future growth.

CryptoQuant cited on-chain data, reporting that on July 7, Tether Treasury burned $2.5 billion worth of USDT on the Ethereum network. This marks the largest single burn on the network since February this year, exceeding the $2 billion burn on May 8, and second only to the all-time high of $3.5 billion recorded on February 10. Meanwhile, the USDT balance flowing into and out of Binance via the Tron network dropped to roughly $806 million, its lowest level since December 29, 2025 (when it hit $391 million), falling below the $1 billion threshold and signaling a significant contraction in USDT liquidity on Binance’s Tron channel. The large-scale burn by Tether Treasury primarily reflects redemption, fund management, or cross-chain rebalancing operations rather than a direct market signal. However, the synchronized contraction of Ethereum’s USDT supply and Binance’s Tron liquidity is worth ongoing monitoring, as market participants will watch whether the liquidity of dual-chain stablecoins continues this concurrent tightening trend.

According to GMGN market data, the market capitalization of CASHCAT, a meme coin on Robinhood’s chain, has continued its rally, briefly crossing $98 million before pulling back to $92.47 million, surging over 11 times in 24 hours. CASHCAT was originally the mascot of Robinhood’s U.S. stock app before being rebranded as Robinhood. On July 1 this year, Robinhood launched its own Layer 2 (L2) public chain, Robinhood Chain, focusing on on-chain finance and real-world assets (RWA). Vlad Tenev, co-founder and CEO of Robinhood, posted on X today that while the company is building Robinhood Chain into the best public chain for real-world assets (RWA), it is also “very suitable for trading meme coins.” BlockBeats reminds users that most meme coins have no intrinsic value and are highly volatile, so trading them requires caution.