Daily News: Visa Integrates EURC, Tether's Q2 $4.9B Net Profit, Mill City's $450M SUI Purchase of 76.3M Tokens, and More

U.S. Weekly Initial Jobless Claims Reach 218,000; Core PCE Price Index Annual Rate Hits 2.8% in June

For the week ending July 26, the U.S. initial jobless claims reached 218,000, compared to a forecast of 224,000 and the previous value of 217,000. The U.S. Core PCE Price Index annual rate for June was 2.8%, exceeding the forecast of 2.7% and the previous value of 2.7%

Trump Sets Tariff Rates for Multiple Trade Partners Between 10% and 41%

U.S. President Trump signed an executive order establishing "reciprocal tariffs" on several countries and regions, with specific rates ranging from 10% to 41%.

U.S. Treasury Secretary Besent: Interviews for Federal Reserve Personnel to Be Conducted

U.S. Treasury Secretary Besent stated uncertainty regarding the rationale for not cutting interest rates. He mentioned compiling a strong list of candidates for the Federal Reserve Chair. The Federal Reserve Board currently has two vacancies. Interviews for Federal Reserve personnel will be conducted, with nominations expected to be announced by the end of the year.

U.S. SEC Launches "Project Crypto" Initiative Covering Tokenization, Coexistence of Securities and Non-Securities Trading

U.S. SEC Chairman Paul S. Atkins delivered a speech in Washington on July 31, 2025, announcing the launch of SEC's comprehensive reform initiative, "Project Crypto." The plan includes multiple directions such as crypto asset classification and issuance, tokenization support, revisions to custody and trading rules, coexistence of securities and non-securities trading, super-app platform access, DeFi compliance pathways, and innovative exemption mechanisms. The initiative aims to establish a regulatory foundation for advancing the U.S. as a global hub for crypto capital.

Ethereum Foundation Unveils "Lean Ethereum" Ten-Year Vision: 10,000 TPS and 100% Uptime

Ethereum Foundation (EF) senior researcher Justin Drake has outlined a ten-year development vision for "Lean Ethereum." Key goals of the plan include scaling the base layer to 10,000 transactions per second (TPS), scaling Layer 2 networks to 1 million TPS, while maintaining decentralization and 100% uptime.

Ethereum will undergo major upgrades across the consensus layer, data layer, and execution layer. These include upgrading the Beacon Chain to version 2.0, introducing post-quantum Block 2.0, and potentially building EVM 2.0 based on the open-source RISC-V instruction set. Cryptographically, the system will rely entirely on hash-based signatures, hash-root data commitments, and native hash zero-knowledge virtual machines to achieve quantum-resistant capabilities.

Pump.fun Registers Subdomain fee.pump.fun, Hinting at Fee Dashboard or Volume-Based Incentive Program

Pump.fun registered the subdomain fee.pump.fun, potentially signaling the launch of a fee dashboard or a volume-based incentive program.

Visa Adds Support for Stellar and Avalanche, Integrates Euro Stablecoin EURC

Payment giant Visa's settlement platform is expanding support for two dollar stablecoins, two blockchains, and the euro stablecoin EURC. Key updates include:

1. Visa has partnered with Paxos to support Global Dollar (USDG) and PayPal USD (PYUSD).

2. In addition to Ethereum and Solana, Visa has announced new support for Stellar and Avalanche blockchains.

3. Visa has integrated Circle's euro stablecoin EURC.

Tether Q2 Financial Report: U.S. Treasury Holdings Exceed $127 Billion, Quarterly Net Profit Reaches $4.9 Billion

Tether has released its financial report for Q2 2025. As of June 30, 2025, the circulating supply of Tether (USD₮) surpassed $157 billion, marking a $20 billion increase year-to-date.

Tether's holdings of U.S. Treasury securities totaled $127 billion, including $105.5 billion directly held and $21.3 billion indirectly held, reflecting an $8 billion increase compared to Q1. The company achieved a net profit of $4.9 billion in Q2, bringing total profits for the first half of 2025 to $5.7 billion, of which $3.1 billion were recurring profits.

U.S.-Listed Mill City Completes $450 Million Private Placement, Acquires 76.3 Million SUI Tokens

U.S.-listed company Mill City Ventures has completed a $450 million private placement and officially established its SUI token reserve vault. The company currently holds a total of 76,271,187 SUI tokens, acquired at an average price of $3.6389 per token through OTC agreements with the Sui Foundation.

Mill City plans to continue purchasing SUI tokens in the open market and intends to allocate approximately 98% of the net proceeds from the private placement toward acquiring and managing SUI token reserves.

Guotai Junan International Issues First Public Digital Native Bond by Chinese Brokerage

Guotai Junan International (1788.HK) has successfully issued the first public digital native bond by a Chinese brokerage, according to an official announcement. The bond is denominated in USD, with an issuance size of up to $300 million and a 3-year term. The issuance utilized a direct issuance structure and was completed via HSBC's "Orion" digital asset platform. Guotai Junan International served as the lead global coordinator and settlement agent for this issuance.

The digital bond was issued based on blockchain technology, featuring characteristics such as digitization, programmability, and automatic execution.

Sinolink Worldwide Holdings to Rename as "Z Fin Limited," Shifts Focus to Web3 and FinTech

Sinolink Worldwide Holdings Limited has announced plans to change its name to "Z Fin Limited," reflecting its strategic pivot towards the financial technology (FinTech) sector, according to an official announcement. The company has already made investments in ZhongAn Online Property Insurance (06060.HK) and its joint venture ZA Global, establishing its presence in the FinTech space.

The company intends to further explore opportunities in FinTech, with a special focus on areas like crypto assets, real-world asset tokenization (RWA), Web3, and stablecoins. This move aligns with Hong Kong's policy direction of becoming Asia's hub for cryptocurrency and digital assets.