Daily News: US June PPI Softens, PayPal Updates PYUSD Terms, 4Paradigm Raises HKD 1.3 Billion for Stablecoins and RWA, and More

U.S. June PPI Year-on-Year Growth at 2.3%, Below Expectations of 2.5%

U.S. June Producer Price Index (PPI) increased 2.3% year-on-year, falling short of the expected 2.5%. The previous figure was revised from 2.60% to 2.7%.

June's PPI remained unchanged month-on-month at 0%, below the forecasted 0.20%. The prior value was adjusted from 0.10% to 0.3%.

U.S. House Advances Cryptocurrency Regulation Bill, GENIUS Stablecoin Act May Be Submitted for Trump's Signature

The U.S. House of Representatives advanced the GENIUS Stablecoin Act and the Digital Asset Market Clarity Act (Clarity) on Wednesday through a procedural vote of 215 to 211. The GENIUS Act, which establishes a regulatory framework for stablecoins, has already passed the Senate and could be submitted to President Trump for signature later this week.

Additionally, lawmakers agreed to vote later on a bill to block the Federal Reserve from directly issuing central bank digital currency (CBDC) to individuals. A similar vote failed the day before due to concerns from some Republican members regarding CBDC-related provisions.

Trump Denies Drafting A Letter to Fire Federal Reserve Chair Powell

Trump denied drafting a letter to fire US Federal Reserve Chair Jerome Powell, despite reports suggesting he considered the option during discussions with Republican lawmakers. While criticizing Powell for not cutting interest rates, Trump acknowledged polling lawmakers on the matter but emphasized his conservative stance on the issue. Powell, serving a term until 2026, has reiterated his commitment to data-driven decisions amidst ongoing political and economic tensions.

Previously, The New York Times reported that President Trump had drafted a letter to dismiss Powell.

Hong Kong-Listed 4Paradigm Plans to Place 25.9 Million Shares, Raising Over HKD 1.3 Billion for RWA and Stablecoin Fields

On July 17, 2025 (before the trading session), Beijing Fourth Paradigm Technology Co Ltd (HKG: 6682) entered into a subscription agreement with the subscriber.

Under the agreement, the subscriber conditionally agreed to subscribe for, and the company conditionally agreed to allot and issue, a total of 25.9 million subscription shares at a subscription price of HKD 50.50 per share, with a total consideration of approximately HKD 1,307.95 million (~ USD 165 million). Of this, 50% will be allocated to AI product development in areas such as embodied intelligence, blockchain, RWA, and stablecoins, 40% will be used for global business expansion and potential acquisitions, and 10% will be allocated for general corporate purposes.

Beijing Fourth Paradigm Technology Co., Ltd. is a joint stock company incorporated in the People’s Republic of China, operating in the technology sector. The company focuses on providing innovative technology solutions and services, with a market focus on expanding its influence through strategic share issuances.

China Asset Management (Hong Kong) Launches USD and RMB-Denominated Tokenized Money Market Funds

China Asset Management (Hong Kong) announced the launch of its second batch of tokenized funds: the China USD Digital Currency Fund and the China RMB Digital Currency Fund. Together with the HKD Digital Currency Fund approved in February this year, these funds form a comprehensive series of tokenized money market funds. Notably, the China RMB Digital Currency Fund is the world's first tokenized fund denominated in RMB.

Windtree Announces $60 Million Investment to Launch BNB Crypto Treasury Strategy

Windtree Therapeutics, Inc. (NASDAQ: WINT) announced a $60 million securities purchase agreement led by Build and Build Corp, with the potential for an additional $140 million in subscriptions, to establish a pioneering BNB Crypto Treasury Strategy. This initiative will position Windtree as the first NASDAQ-listed company offering direct exposure to the BNB token, aiming to address the growing demand for regulated access to the Binance ecosystem among retail and institutional investors.

Ethereum Treasury Firm BTCS Announces Inclusion in Russell Microcap Index

US-listed Ethereum treasury firm BTCS Inc. (BTCS) announced on social media that it has officially been included in the Russell Microcap Index. Previously, on July 15, BTCS increased its holdings by 2,731 ETH, bringing its total holdings to 31,855 ETH.

PayPal Updates Cryptocurrency Terms, PYUSD Stablecoin to Expand to Arbitrum Chain

On July 16, 2025, PayPal updated its cryptocurrency service terms, with the most notable change being the expansion of PYUSD stablecoin support to the Arbitrum blockchain network. According to the new terms, PYUSD now operates on Ethereum, Solana, and Arbitrum blockchains, allowing users to send and receive PYUSD on any of these networks.

The stablecoin, issued by Paxos, is pegged at $1 and fully backed by U.S. dollar deposits, U.S. Treasury bonds, and U.S. Treasury repurchase agreements. PayPal has also introduced a PYUSD rewards program, enabling eligible users to earn returns based on their holdings.

WLFI Token Transfer Proposal Approved by Community Vote

The WLFI team announced that the token transfer proposal has been approved by community vote, with a support rate of 99.94%, according to the official page. The proposal seeks to gather community feedback and formally initiate token transferability.

The team plans to begin distributing tokens to eligible early supporters and will launch a second vote to establish community governance for unlocking the remaining tokens.

Eclipse Announces Tokenomics: Total Supply of 1 Billion, 15% Allocated to Airdrops and Liquidity

Ethereum SVM Layer2 network Eclipse has released its tokenomics. The total supply of ES tokens is 1 billion, with the following allocations:

• 35% - ecosystem and development;

• 31% - early supporters and investors.

• 19% - contributors (current and future);

• 15% - airdrops and liquidity;

Hyperion Announces Tokenomics: 5% Allocated to Airdrops, 5% Allocated to Community Incentives

Binance Wallet's exclusive Bonding Curve TGE first-phase project Hyperion has revealed the tokenomics for RION tokens as follows:

• 30% - liquidity incentives;

• 22.9% - protocol treasury;

• 20% - team and advisors;

• 9% - public distribution;

• 8.1% - investors.

• 5% - airdrops;

• 5% - community incentives;

Uniswap President and COO Mary-Catherine Lader Announces Departure

Mary-Catherine Lader announced her departure after a four-year tenure as President and Chief Operating Officer at Uniswap, stating she will embark on a new venture. Reflecting on her career, which began in 2015 when she initiated the digital asset business at BlackRock, Lader described her collaboration with Uniswap founder Hayden Adams as "an awesome adventure".

GameStop CEO: Considers The Possibility of Accepting Crypto For Trading

Cohen told CNBC’s Squawk Box on Tuesday the possibility of accepting cryptocurrency for trading card purchases as part of its strategy to shift focus away from hardware and toward collectibles. CEO Ryan Cohen highlighted crypto's utility as a hedge against inflation and its potential for transactional use, though the company has not yet decided which tokens to support. GameStop's recent Bitcoin investment and earlier ventures into NFTs and crypto wallets underscore its interest in the digital asset space, despite regulatory challenges.

TRUMP Meme Suspected to Have Registered Game-Related Subdomain, May Launch Gaming Project

TRUMP Meme token's official website is suspected to have registered a subdomain named "Trumpthegame," potentially preparing to launch a gaming project.