Odaily News According to Reuters, stablecoin issuer Circle (CRCL) has applied for a U.S. national banking license. If approved, it will be able to manage USDC reserves independently and custody crypto assets on behalf of institutional clients. The entity will be called First National Digital Currency Bank, NA. This move follows Circle's successful IPO this month, marking its further integration into the traditional financial system. (The Block)

Odaily News According to the monitoring of on-chain data analyst @ai_9684xtpa, AguilaTrades cleared its 20x leveraged BTC short position in the early morning, making a profit of $12,900, and then switched to long positions, losing $642,000 in 2 hours. Currently, it has switched to short positions again, placing a TWAP short order of 1,000 BTC, 279 of which have been traded, and the operation will continue until 12:56:22 today.

Odaily News Spanish authorities, with the assistance of law enforcement in the United States, France, and Estonia, arrested five members of a crypto crime gang suspected of defrauding more than 5,000 investors of $541 million. This case is one of the largest crypto investment frauds in Spain's history, with funds involved flowing in cash, bank transfers, and crypto transfers through a global network of connections. (Cointelegraph)

Odaily News U.S. Senator Cynthia Lummis is trying to include a key crypto tax amendment in the "Big Beautiful Bill," which proposes to exempt small crypto transactions of no more than $300 per transaction and no more than $5,000 per year from tax. It also recommends that assets obtained from staking, mining, airdrops and forks be taxed only when sold to alleviate the "double taxation" problem. The amendment also involves tax reforms such as crypto lending, wash sales and crypto asset donations. (CoinDesk)

Odaily News OKX market data shows that BTC fell below 107,000 USDT and is now at 106,994.2 USDT, a 24-hour drop of 0.52%. (This newsletter is generated with the assistance of AI)

Odaily News According to Fox Business News: U.S. Oregon Democratic Senator Jeff Merkley proposed an amendment to the "Big and Beautiful Act" (OBBB) to prohibit elected officials from promoting or profiting from cryptocurrency tokens in which they have a financial interest. U.S. Republican Senator Lummis of Wyoming opposed the amendment, saying it would seriously damage U.S. innovation and competitiveness and undermine the government's ability to effectively understand and regulate digital assets.