Odaily News Huatai Securities Chief Macroeconomist Yi He pointed out that relaxing bank supervision and promoting the issuance of stablecoins may increase the demand for US debt and liquidity supply in the short term, and even smooth out the contradiction between the supply and demand of US debt to a certain extent. However, the short-term demand for "creating" US debt may amplify the long-term risks of US debt. In addition, the "Big and Beautiful" bill is expected to push up the US fiscal deficit by more than $4 trillion in the next decade, exceeding the previous House version. Deutsche Bank has previously pointed out that the bill may vigorously promote the US dollar stablecoin, increase domestic financial repression, put pressure on the Federal Reserve to cut interest rates and significantly weaken the US dollar. (Caixin.com)

Odaily News According to a JD spokesperson’s Weibo post, JD (09618.HK) issued a solemn statement regarding the false information about JD’s stablecoin products and business cooperation: We have recently noticed that some companies have released information about cooperation with JD’s CoinChain, which is false and misleading to the industry and public opinion. Please be careful to identify and be wary of “stock recommendation” scams to avoid property losses. At the same time, we once again remind the public that JD’s CoinChain Technology has not yet started issuing stablecoins, nor has it established any related communities. All information about obtaining JD’s stablecoins is suspected of fraud. (Jinshi)

Odaily News According to The Data Nerd, smart money DwcFR purchased 9.37 million USELESS tokens at $22,000 50 days ago, with an average price of $0.00234. The investor has sold 2.47 million tokens for a profit of $39,000 to recover the initial investment, and currently still holds 6.9 million tokens, worth about $1.33 million.

Odaily News According to official news, Babylon Genesis Chain will adopt the EVM and CosmWasm dual virtual machine model: CosmWasm (already launched on the mainnet) is used to develop secure and high-performance smart contracts for Bitcoin. Wasm smart contracts are written in Rust, a language that fully supports the Bitcoin core library; EVM (to be added), with rich and mature DeFi products, a large user base, and a strong developer community. Currently, the EVM promotion work of Genesis Chain is in progress, the development network has been launched, and once the test network is launched, the public test network endpoint will follow. Officials said that the EVM integration plan will be launched on the mainnet in the late third quarter to early fourth quarter of 2025.

Odaily News According to Coinglass data, of the 12 July rallies in Bitcoin's history since 2013, 8 closed higher and 4 closed lower. The largest increase occurred in July 2020, when the monthly increase reached 24.03%; the largest decrease occurred in July 2014, when the monthly decrease reached 9.69%. Since 2013, the average return rate of Bitcoin's July rally has been 7.56%.

Odaily News Gan Tian, CEO of China Asset Management (Hong Kong), attended the China Wealth Management 50 Forum (CWM50) Stablecoin Seminar and said that he had a "brain-opening" prediction about stablecoins: I don't know whether it will be 5, 10, or 20 years, legal currency will become stablecoins, and there will be only a few universal stablecoins in the world. Gan Tian added that a single-digit number of transactions under the entire Yiwu transaction item are settled in stablecoins. The benefits of stablecoins are self-evident, low-cost, fast, timely, and efficient. I believe that driven by blockchain technology, the world's currency may eventually be unified. In the future, all countries will try to issue their own stablecoins, but a country's stablecoin needs to meet two conditions to win in the end: one is a strong financial market, and the other is to be strong enough under the trade item. (China Asset Management Hong Kong Official Account)