Trump Increases Steel and Aluminum Tariffs

Crypto

Growth in Large Bitcoin Wallets

The number of wallets holding between 10 and 10,000 BTC has risen to 151,820. Over the past week, these holders aggressively accumulated an additional 79,244 BTC, averaging 11,321 coins per day. This trend highlights continued institutional and large-scale private interest in maintaining sizable Bitcoin positions.

Ethereum Foundation Negotiations with Sovereign Funds and Banks

Ethereum co-founder Joe Lubin announced ongoing talks with sovereign wealth funds and major banks in a large country to build out Ethereum’s Layer-1 and Layer-2 infrastructure. They are exploring scalable rollup solutions and consortium testing frameworks capable of handling enterprise workloads.

California Legislature Approves Bitcoin for Government Payments

The California State Assembly passed a bill authorizing state agencies to accept Bitcoin and other cryptocurrencies for payment of government fees. The bill now moves on to the State Senate. If enacted, citizens would be able to pay taxes, fees, and fines using BTC or other approved digital assets.

Vanadi Coffee’s $1.1 Billion Bitcoin Investment Plan

Spanish coffee chain Vanadi Coffee plans to invest over $1.1 billion in Bitcoin. The company aims to diversify its balance sheet, hedge against inflation, and reinforce its image as a fintech innovator by accumulating BTC reserves.

James Wynn’s Wyckoff Analysis of Bitcoin

Analyst James Wynn emphasized that, when monitoring the global M2 money supply, “everything else is just noise.” He shared a Wyckoff-style chart suggesting that Bitcoin will first rally toward its all-time high, pull back briefly, and then surge above $125,000.

NYSE Arca Files for Truth Social Bitcoin ETF

NYSE Arca has filed with the SEC to list the Truth Social Bitcoin ETF. If approved, this product will expand crypto’s presence in mainstream financial markets by bringing a socially-branded Bitcoin vehicle to U.S. investors.

WLFI USD1 Token Airdrop

World Liberty Financial (WLFI) transferred 4 million USD1 tokens and is conducting a $47 airdrop to presale participants via BulkTransfer. This campaign aims to reward early backers and build community engagement before larger platform launches.

Trump Family Denials

Eric and Donald Trump Jr. denied any involvement by the presidential family in the WLFI wallet, refuting Telegram rumors. Official statements confirm the wallet and airdrop are unrelated to the Trump family.

Ripple’s Brad Garlinghouse Denies Circle Acquisition

Ripple CEO Brad Garlinghouse refuted reports that Ripple tried to acquire Circle for $4–5 billion. Rumors had suggested Ripple planned to purchase the USDC issuer to expand its stablecoin offerings, but Garlinghouse confirmed no such bid was made.

MELANIA Memecoin Partners with Wintermute

The MELANIA memecoin project announced a partnership with market maker Wintermute to provide liquidity. This collaboration aims to stabilize token pricing, narrow spreads, and attract additional traders.

Pump.fun’s $1 Billion Token Sale Plan

Pump.fun intends to launch a $1 billion token sale at a $4 billion valuation. Proceeds will fund platform development, marketing, and community incentives to drive growth around its memecoin ecosystem.

Macro

China’s Manufacturing Activity Hits New Lows

China’s manufacturing PMI fell to its lowest level since September 2022, reflecting industrial sector slowdown amid ongoing trade tensions and domestic economic adjustments. Weaker manufacturing output could disrupt global supply chains and prompt production shifts to other regions.

Hedge Funds’ Record Leveraged Positioning

Hedge funds increased net leverage at record speed over the past month, taking on significant debt to amplify returns. This aggressive positioning heightens potential market volatility if trends reverse abruptly.

Tech Stock Buying Frenzy

Last week, hedge funds bought global technology stocks at the fastest pace in five years—pouring capital into semiconductors, software, and internet platforms. This surge underscores risk appetite driven by anticipation of continued tech innovation.

CEO Confidence Index Plummets

The Conference Board’s CEO Confidence Index plunged 26 points in Q2 2025 to 34, the lowest since Q4 2022. Eighty-two percent of CEOs reported worsening economic conditions over the past six months; 64% expect further deterioration, and 83% foresee a recession within 12–18 months. This profound pessimism may delay corporate investment and dampen hiring.