Daily News: US Senate Passed Big and Beautiful Bill, Gemini Launched Tokenized Stock in EU, Resupply Proposed $10 Million ReUSD Bad Debt Remedy, and More

U.S. Senate Passes Procedural Vote on Trump's "Big and Beautiful" Tax Reform Bill

The U.S. Senate passed a procedural vote on June 29, securing enough votes (51 in favor, 49 against) to advance Trump's tax reform bill. This increases the likelihood of the bill being passed in the coming days.

Trump's Approval Rating Drops to a Historic Low

President Trump’s approval rating has dropped to a historic low, Newsweek reports. The survey indicates that 43% of Americans are satisfied with Trump’s performance, while 53% are dissatisfied, giving him a net approval rating of negative 10%. Reports suggest that after Trump announced the "Liberation Day" tariffs this April, his poll numbers initially dropped sharply. Although his approval rating soon rebounded, his recent actions appear to have reignited public dissatisfaction with the White House.

Gemini Launches Tokenized Stock Service in the EU, Debuts with MicroStrategy Stock

Gemini has launched its tokenized stock service in the EU, according to an official disclosure on Gemini's X platform on June 28. Users can now purchase tokenized MicroStrategy (MSTR) stock on the Gemini platform and freely transfer it on-chain.

Gemini stated that they are collaborating with a leading provider of tokenized U.S. public securities to offer customers greater liquidity, transparency, and the same economic rights as the underlying securities (in permitted regions).

The tokenization of MSTR stock is just the beginning, as Gemini plans to roll out more tokenized stocks and ETF products in the coming days. This service is currently available only to customers in the EU region.

Fiserv Partners with PayPal and Circle to Launch USD Stablecoin FIUSD

Fiserv announced plans to partner with PayPal and Circle to launch a USD-backed stablecoin, FIUSD.

The stablecoin is expected to be launched by the end of this year, initially operating on the Solana blockchain and integrating with Fiserv's Finxact core banking platform. FIUSD aims to facilitate payment settlements, remittances, and tokenized USD invoice reconciliation.

This move follows the passage of stablecoin legislation in the U.S. Senate, reflecting a clearer regulatory environment and increased institutional confidence in regulated digital dollar alternatives.

Fiserv emphasized that FIUSD will operate compatibly with other stablecoins, potentially attracting more partners and fostering broader adoption. The company is also exploring deposit tokens, enabling banks to offer digital payment solutions while retaining regulatory protections and traditional capital advantages.

BIS States Trump's Criticism of Fed's Rate Decisions Does Not Threaten Its Independence

The Bank for International Settlements stated that Trump's criticism of the Federal Reserve's rate decisions does not threaten its independence. The uncertainty of U.S. economic policies is suppressing economic growth, but no "worrisome" signs related to the decline of the dollar exchange rate have been found. The rise of protectionism and trade fragmentation is "particularly concerning."

Data: Retail Investor Demand Hits 6-Month Low, Drops 10% in 30 Days

CryptoQuant analyst Maartunn wrote on his X that retail investor demand (transaction volume between $10 and $30 on the 0-day moving average) decreased by 10% over the past month, hitting a 6-month low.

Deep Tide TechFlow News, June 29 – On June 29, according to CryptoQuant analyst Maartunn, retail investor demand, measured by transaction volume between $10 and $30 on the 0-day moving average, has dropped 10% in the past 30 days, marking the lowest point in six months.

Resupply Protocol Proposes Emergency Remedy Plan to Address $10 Million ReUSD Bad Debt

Resupply protocol proposes an emergency remedy plan in the community to address the $10 million ReUSD bad debt issue encountered earlier this week. The proposal outlines a set of governance actions aimed at eliminating the protocol's bad debt and providing retention rewards for affected users.

The first phase of measures includes destroying $6,000,000 of ReUSD bad debt through the insurance pool, which accounts for 15.5% of the 38.7 million ReUSD in the pool, and repaying the remaining $1,131,168 bad debt through a mix of future revenue sources. Additionally, the proposal includes shortening the voting period to accelerate the decision-making process and offering an IP retention plan for insurance pool depositors, incentivizing them to stay in the pool with additional RSUP token rewards.

OneKey Founder Criticizes Resupply's Handling of Hack

OneKey founder Yishi criticized Resupply on June 29 for its response to the Curve ecosystem hack, accusing the protocol of failing to report the incident or pursue the hackers. He condemned Resupply for targeting affected users by extending unlock periods, banning withdrawals, and engaging in abusive behavior within the community. SlowMist founder Yu Jian added that Resupply is the first project in history to neither make a public statement nor offer a bounty.

Crossmint Collaborates with Visa to Implement AI-Driven On-Chain Payments Using Tokenized Credentials

Crossmint collaborates with Visa to implement AI-driven on-chain payments using tokenized credentials. Crossmint will also launch NFT Wallet as a Service (WaaS) to help companies apply simplified, interoperable blockchain technology to their existing products and services. The NFT WaaS tech stack allows companies to create smart contracts and send NFTs via email, as well as generate wallets for NFT collectors. This white-label product also enables users to connect wallets to third-party websites using Dapp services Wallet Connect or Crossmint Connect. Additionally, Crossmint WaaS allows users to purchase NFTs with fiat currency, and this service is now being rolled out to the public.

Tether CEO: Open-Source Password Manager PearPass Under Testing and Soon to Be Open-Sourced

Tether CEO Paolo Ardoino announced on the X platform that the open-source password manager PearPass is undergoing testing and will soon be open-sourced. PearPass will support mobile and desktop versions, along with an upcoming browser extension.

Paolo Ardoino stated that it is "fully local, private, sync peer-to-peer with your devices, supports mobile, desktop and soon browser extensions".

Earlier reports indicated that Tether’s CEO responded to global password leaks by criticizing cloud services and revealed the development of PearPass as a new password management solution.

Lido DAO Passes Dual Governance Proposal Granting Stakers Delay or Veto Rights

Lido DAO votes to pass a dual governance structure proposal, granting stakers (users holding stETH tokens) the power to delay or veto governance decisions made by LDO token holders. The main voting phase concluded with near-unanimous approval, as 53.6 million LDO tokens voted in favor, barely exceeding the required 50 million LDO vote threshold, with only 1.18 LDO opposing.

Under the new model, stakers can express objections by depositing stETH into a custody contract. If deposits reach 1% of Lido's total staked ETH, the proposal will be delayed by 5 days; if deposits reach 10%, the proposal will be frozen. The final voting result will be confirmed on June 30 at 10:00 AM Eastern Time unless significant opposition arises during the "objection" phase.

Michael Saylor Publishes Bitcoin Tracker Information Again, May Increase Bitcoin Holdings Next Week

Michael Saylor published Bitcoin Tracker information again on the X platform on June 29. He wrote: "In 21 years, you'll wish you'd bought more." According to previous patterns, Strategy usually discloses Bitcoin purchase information the day after such announcements.

Yusys Technologies Signed Confidential Agreement with Stablecoin Issuer

Yusys Technologies signed a confidential agreement with a stablecoin issuer, engaging in in-depth discussions. On June 29, according to reports from Caijing Lianhe, Yusys Technologies (300674.SZ) released an investor relations activity record form, highlighting that the policy breakthroughs in the stablecoin sector align closely with the company’s global development strategy. The company has systematically begun its layout at the corporate level, leveraging its existing overseas business foundation.

Key developments include:

1. Actively connecting with core participants in various aspects of the stablecoin ecosystem, conducting detailed discussions around the full-process requirements of stablecoin issuance, clarifying roles in the issuance process, and integrating technical solutions, advantages, and resources.

2. Engaging with institutions in emerging technology hotspots like Singapore to explore specific implementation paths for RWA (Real World Asset) tokenization, including selecting suitable underlying assets, designing compliant tokenization solutions, and formulating issuance strategies.

3. Communicating with specific closed-loop industrial chain companies in the Middle East, where the industry requires a closed-loop system involving upstream and downstream participants. Stablecoin blockchain technology provides application scenarios, enabling transaction transparency across the industrial chain and constructing an end-to-end payment system.