Daily News: US Inflation Picks Up, GENIUS Act Votes Stalled, PUMP Buyback to Begin, And More

U.S. Core CPI Yearly Rate at 2.9% in June, Adjusted Monthly CPI at 0.30%

The U.S. core CPI yearly rate for June was 2.9%, below the forecasted 3.00% and higher than the previous value of 2.80%. The adjusted CPI monthly rate was 0.30%, consistent with expectations and up from the prior figure of 0.10%.

This acceleration poses political challenges for President Trump, who had promised to lower costs during his campaign, and complicates Federal Reserve policy as Trump demands interest rate cuts from the current 4.3% level. The inflation uptick was driven by higher gas prices (up 1% monthly), grocery costs (up 0.35%), and appliance prices, amid Trump's sweeping tariffs including 10% on all imports, 50% on steel and aluminum, 30% on Chinese goods, and 25% on imported cars.

Nick Timiraos, known as the "Fed mouthpiece," wrote in his latest article that June's inflation data may lead Fed officials to remain cautious. In recent weeks, Fed Chair Jerome Powell has stated that compared to the spring, the threshold for rate cuts may have slightly lowered. This shift reflects an assessment that inflation risks may take longer to materialize, thus having a relatively weaker impact. If the Fed maintains the expectation that inflation acceleration won't be too severe, Powell may open the door for rate cuts as early as September, depending on labor market weaknesses or improvements in inflation data.

Trump: Lawmakers Unanimously Agree to Vote on GENIUS Act Tomorrow Morning

On July 16, Trump announced on Truth Social that he had met with 11 lawmakers in the Oval Office and reached a consensus on the GENIUS Act, with plans to hold a vote tomorrow morning. House Speaker Mike Johnson participated via phone and expressed support for expediting the vote.

Bessent: Formal Process for Powell's Successor Has Begun

U.S. Treasury Secretary Bessant stated that the formal process for selecting Federal Reserve Chair Jerome Powell's successor has begun. “It’s President Trump’s decision, and it will move at his speed,” Bessent told Bloomberg, “There’s been a lot of talk of a shadow Fed chair causing confusion in advance of his or her nomination. And I can tell you, I think it’d be very confusing for the market for a former Fed chair to stay on also.”

House Fails to Advance GENIUS Act Amid Crypto Disputes

The House of Representatives failed to pass a procedural rule advancing the GENIUS Act, a stablecoin regulation bill, along with two other major crypto bills during "Crypto Week." This setback came amid partisan disagreements, with Republicans pushing for crypto innovation and Democrats opposing the bills, citing concerns over conflicts of interest and proposing stricter regulations through the "Stop TRUMP in the Crypto Act." The controversy highlights the ongoing political divide over cryptocurrency regulation in the U.S.

Pump.fun Transfers 98,000 SOL to Buyback Address, Worth Approximately $16 Million

On-chain data indicates that Pump.fun has allegedly transferred 98,000 SOL, valued at approximately $16 million, to a buyback address. Earlier market reports stated that Pump.fun had announced the launch of its first round of PUMP buybacks.

Aqua1: Team Operates Independently, Unrelated to Web3port

Aqua1 Foundation issued a statement addressing recent rumors about its team and operations. The statement clarified that Dave Lee joined Aqua1 in April 2025 as co-founder and CEO, aligning closely with the team's long-term vision.

Aqua1 emphasized its independent operations, stating that it has no equity, financial, or operational ties to any unrelated entities. The team is collaborating with Middle Eastern institutions to advance its projects, though some details remain undisclosed due to compliance requirements.

Previously, reports suggested that the anonymous company Aqua1, which donated $100 million to WLFI, was linked to Web3Port.

Eclipse Announces Airdrop Claim Opening at 5 PM on July 16

According to Eclipse's official announcement, The claim for ES token airdrop will open at 9 AM UTC on July 16. ES tokens will be simultaneously issued on the Eclipse mainnet, Ethereum mainnet, and Solana network.

Market News: U.S. Department of Justice Concludes Investigation into PolyMarket

According to market sources, the U.S. Department of Justice has concluded its investigation into PolyMarket.

Citigroup CEO: Citi is Exploring the Possibility of Issuing a Stablecoin

The CEO of Citigroup stated that the company is currently exploring the possibility of issuing a stablecoin, Reuters reports.

Standard Chartered Launches Bitcoin and Ethereum Spot Trading Services

Standard Chartered has officially launched Bitcoin and Ethereum spot trading services for institutional clients through its UK branch, becoming the first globally systemically important bank to offer such services.

The service aims to meet the growing demand for crypto assets from institutional clients, allowing them to trade digital assets through a familiar foreign exchange trading interface.

Standard Chartered also announced plans to offer non-deliverable forward (NDF) trading services in the future and emphasized its commitment to providing secure, efficient, and compliant digital asset trading and risk management solutions.

SharpLink Gaming Acquires 5,188 More ETH, Total Holdings Reach 300,000 ETH

According to analyst @EmberCN, SharpLink Gaming purchased an additional 5,188 ETH (approximately $15.86 million) 10 hours ago via Coinbase Prime.

Since early June, SharpLink Gaming has adopted a MicroStrategy-like strategy, accumulating a total of 300,000 ETH at an average purchase price of $2,701. The current unrealized profit from these holdings has reached $130.9 million.