Daily News: Trump Signs "Big and Beautiful", Musk to Establish "America Party", Japan Digital Bank Explores Stablecoin, and More

Trump Signs "Big and Beautiful" Tax and Spending Bill

Trump signed the "Big and Beautiful" tax and spending bill into law on July 4th, local time. On July 3rd, the U.S. House of Representatives passed the bill promoted by President Trump with a vote of 218 in favor and 214 against. The bill has been controversial for reducing federal aid, increasing long-term debt, and cutting taxes for the wealthy and large corporations. Two Republican representatives voted against the bill during the session. The Senate had already passed the bill on July 1st.

U.S. Treasury Secretary Besent: Tariffs Will Return to April Levels If No Agreement Is Reached by August 1

Treasury Secretary Scott Bessent outlined the consequences of failing trade negotiations, stating that tariffs will return to April 2 levels on August 1 if countries do not finalize deals by the July 9 deadline. The Trump administration plans to send letters to approximately 100 countries, emphasizing the urgency of reaching agreements. While President Trump has announced deals with a few nations, including the United Kingdom, China, and Vietnam, most trading partners remain at baseline tariff rates. Economists warn of potential inflation and higher consumer costs, though administration officials argue the economic impact remains minimal.

Musk Has Submitted Organizational Statement for "America Party" to the U.S. Federal Election Commission

Musk has reportedly submitted an organizational statement for the "America Party" to the U.S. Federal Election Commission (FEC).

Japan Digital Bank Minna Bank Explores Stablecoin Applications on Solana

Minna Bank, Japan's first digital-only bank, announced a pilot study in collaboration with Fireblocks, Solana Japan, and TIS to explore stablecoin issuance and wallet use cases. The initiative focuses on assessing the technical feasibility of issuing stablecoins on Solana and their real-world applications, including cross-border payments, asset trading, and digital payments, aiming to improve financial services in Japan.

Ondo Finance Acquires Oasis Pro to Advance Tokenized Finance

Ondo Finance announced its acquisition of Oasis Pro, a brokerage platform registered with the SEC as a broker-dealer, alternative trading system (ATS), and transfer agent. The move aims to enhance Ondo’s mission of bringing financial markets on-chain, aligning with broader developments in tokenized finance and regulatory compliance. Oasis Pro was among the first U.S.-regulated ATSs supporting digital securities settlement using fiat and stablecoins like USDT.

Sonic Labs will randomly open the first phase of S token airdrop claims between July 15 and 22

According to the official announcement from Sonic Labs, "The first phase (S1) of S token airdrop claims will open randomly from July 15 to 22. Please be prepared."

Ethereum Community Fund to Launch a Series of Plans in the Coming Weeks to Push ETH Price to $10,000

The Ethereum Community Fund announced on social media on July 5 that it will launch a series of plans in the coming weeks. These include complete funding details, the first batch of initiatives, information about the core team and contributors, as well as guidelines on how to apply, contribute, or start new projects.

The Ethereum Community Fund stated that this marks the "dawn of a new era" for Ethereum. Since the fund's inception, it has received positive feedback from a large number of developers and researchers. The fund emphasized that it is not a think tank but a "war chest," with its mission to push the ETH price to $10,000.

UAE denies recent claims of issuing golden visas to cryptocurrency investors

The UAE denies recent claims circulating online about issuing golden visas to cryptocurrency investors, according to a joint statement issued on July 7 by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA). VARA clarified that TON has neither obtained a license from VARA nor is under its regulation.

ICP stated that the issuance of golden visas follows a clear official framework and standards, which do not include cryptocurrency investors. Eligible categories include real estate investors, entrepreneurs, distinguished talents, scientists and experts, outstanding students and graduates, humanitarian pioneers, and frontline workers.

The three authorities jointly urged the public to obtain accurate information through official channels and warned against believing unverified advertisements or offers online.

On-Chain Analyst: WLFI Liquidity Addition Test is False Information, Beware of Scams

According to on-chain analyst AI Aunt (@ai_9684xtpa) on the X platform, the WLFI liquidity addition test is false information. The community and Twitter have been circulating a screenshot of 150 million $WLFI being added to liquidity. However, by checking the details on the block explorer, it can be found that the address added "150 million fake WLFI tokens and 0 genuine WLFI tokens," causing this transaction to still appear in the LP section.

The genuine WLFI token contract address is 0xdA5e1988097297dCdc1f90D4dFE7909e847CBeF6. The token remains non-transferable, and the transfer proposal is still under voting. Beware of scams.

ZhongAn Online Completes HK$3.9 Billion Placement

ZhongAn (06060.HK) Online has completed the placement of 215 million new H shares, raising a total of HK$3.924 billion. The placement price was HK$18.25 per share, accounting for 13.15% of the expanded issued H shares and 12.76% of the total issued shares.

Previously, following the Hong Kong Legislative Council's passage of the "Stablecoin Ordinance Bill," ZhongAn Bank announced it became the first digital bank in Hong Kong to provide exclusive reserve banking services for stablecoin issuers. The bank also partnered with Circle, one of the initial participants in the Hong Kong Monetary Authority's sandbox program.

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

Executive Chairman of Strategy Michael Saylor posted Bitcoin Tracker information on the X platform again on July 6. He wrote, "Sometimes you just need to HODL."

Given previous patterns, Strategy typically discloses Bitcoin accumulation information the day after such announcements.