U.S. non-farm payrolls in June were 147,000, compared with expectations of 110,000
According to Jinshi.com, the seasonally adjusted non-farm payrolls in the United States in June were 147,000, in line with expectations of 110,000. The previous value was revised from 139,000 to 144,000.
Binance Launches Institutional Lending
According to the official announcement, Binance launched institutional lending for corporate users (KYB) with VIP 5 trading volume and above. This new feature can provide up to 4 times leverage and support collateral aggregation across multiple sub-accounts and asset accounts. This feature breaks the single account limitation of leveraged collateral and further improves funding efficiency and flexibility. The credit line obtained by institutional lending can be traded in Binance leverage and contract markets through full-position leverage accounts, unified accounts and/or unified accounts Pro.
According to Jinshi, the number of non-farm payrolls in the United States unexpectedly increased by 147,000 in June, which was not only higher than the 144,000 new jobs in May, but also significantly exceeded the 110,000 generally predicted by economists, showing that the US labor market has successfully withstood the uncertainty brought about by the Trump administration's trade and immigration policies. This unexpectedly strong data will reduce the pressure on the Federal Reserve to cut interest rates, despite Trump's repeated public calls for the bank to take action to cut interest rates. Federal Reserve Chairman Powell said this week that a rate cut in July is "still under consideration", which seems to have reversed his previous position of "keeping interest rates unchanged until the fall."
The Open Platform Completes $28.5 Million Series A Funding, Led by Ribbit Capital
According to Fortune magazine, Telegram ecosystem development platform The Open Platform announced the completion of a $28.5 million Series A financing, with a post-investment valuation of $1 billion. This round was led by financial technology investment institution Ribbit Capital, and crypto venture capital Pantera Capital participated. This financing transferred about 5% of the equity, and did not include cryptocurrency shares. The Open Platform has raised more than $70 million in total.
TOP is the core developer of Telegram's official blockchain, The Open Network (TON). Its "Telegram Wallet" has been opened to users in Russia, Asia and other regions. The company's CEO said that the new funds will be used to expand the European and American compliance markets and incubate blockchain games and AI applications based on TON.
ZachXBT: WhiteRock founder arrested for alleged involvement in Zkasino exit scam
According to a message shared by crypto detective ZachXBT, WhiteRock founder Ildar Ilham (aka @XBT_Prometheus) was arrested by UAE law enforcement for his alleged involvement in the $30 million Zkasino exit scam. Next, he will be extradited to the Netherlands in this criminal case.
Earlier in June, ZachXBT disclosed that the WhiteRock Finance (WHITE) project had multiple risks.
According to The Block, Finery Markets' latest report shows that stablecoins accounted for 74.6% of institutional OTC trading volume in the first half of 2025, up from 46% in the same period last year and 23% in 2023. Among them, USDC performed particularly well, with trading volume increasing 29 times year-on-year under the EU MiCA regulations. The report is based on the analysis of 4.1 million transaction data from the platform from January to June.
Institutional trading showed three major trends: the overall OTC spot trading volume increased by 112.6% year-on-year, the stablecoin trading volume increased by 154%, and the liquidity of cryptocurrency and stablecoin trading pairs surged by 277.4%, far exceeding the 48.5% growth rate of fiat currency trading pairs. In addition to mainstream assets, altcoins such as Cardano and Solana accounted for a total of 16.7% of the market share. Analysts said that this made stablecoins the fastest growing sector in the cryptocurrency market.
U.S. Senator Cynthia Lummis announced her comprehensive digital asset tax legislation, which she is seeking to submit to the president and welcomes public comments on the bill. The bill focuses on several key issues: for small transactions, a $300 minimum rule (with an annual cap of $5,000) is set, adjusted for inflation starting in 2026, taking into account both taxation and transaction convenience; in terms of digital asset lending, securities lending rules are expanded to prevent temporary lending from immediately generating tax consequences, helping the market to develop healthily; revised provisions fill loopholes in false trading losses and ensure fair taxation of digital assets and traditional securities; allowing dealers to price at market prices to eliminate asset type discrimination; delaying the recognition of mining and staking income until asset disposal to ease taxpayers' financial pressure; in the field of charitable donations, actively traded digital assets are exempted from assessment to reduce the difficulty of donations. According to the Congressional Joint Committee on Taxation, the bill will generate approximately $600 million in net fiscal revenue between 2025 and 2034.
U.S. House of Representatives votes to pass "Big and Beautiful" bill
According to Xinhua News Agency, the U.S. House of Representatives passed the "Big and Beautiful" tax and spending bill promoted by President Trump with 218 votes in favor and 214 votes against on the afternoon of the 3rd. The bill has been controversial because it has caused cuts in federal aid, increased long-term debt, and tax cuts for the rich and large companies. Two Republican congressmen voted against the bill that day. The bill was passed by the Senate on the 1st of this month. The White House said on the 3rd that Trump is scheduled to sign the bill on the 4th, the U.S. "Independence Day", to make it effective.
Coinbase: System upgrade time adjusted to 22:00 on August 2
Coinbase tweeted that the system upgrade time has been adjusted to 22:00 (UTC+8) on August 2, 2025, and is expected to last for 3 hours. During the upgrade, Simple and Advanced Trade, deposit and withdrawal functions, inter-platform transfers, and Coinbase Card will be suspended, and transfer-in transactions may be delayed.
According to previous news , Coinbase will conduct a system upgrade for about 3 hours on July 19, during which some services will be affected.
According to Coindesk, Ondo Finance is working with Pantera Capital to launch a $250 million "Catalyst" investment program to invest in physical asset tokenization projects, and the funds will focus on equity investment and token investment. According to data from RWA.xyz, Ondo is one of the largest issuers of tokenized U.S. Treasury bonds, with a total market value of nearly $1.4 billion for its OUSG and USDY tokens. The company is also developing a Layer-1 blockchain network designed specifically for tokenized RWA.
Amber International raises $25.5 million to bolster its cryptocurrency reserve program
According to Coindesk, Amber Group subsidiary Amber International Holding (AMBR) said it has raised $25.5 million through private placement. The proceeds from the private placement will be strategically used to enhance Amber International's $100 million cryptocurrency reserve plan, which aims to support long-term ecosystem integration and product innovation. Since the announcement of the strategy earlier this year, the reserve has been allocated to major digital assets such as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), and is continuing to be allocated to Binance Coin (BNB), Ripple (XRP) and Sui (SUI).
The offering price was $10.45 per share, a 5% discount to the company's three-day volume-weighted average trading price, and attracted investors such as Pantera Capital, CMAG Funds, and Kingkey Financial International to participate. The private placement issued 12,200,915 Class A common shares, equivalent to 2,440,183 American Depositary Receipts (ADS).
DeFi Development acquires 17,760 SOL for $2.72 million to expand its holdings and staking strategies
DeFi Development Corp. (NASDAQ: DFDV) acquired 17,760 SOL for $2.72 million, bringing its total holdings to approximately 640,585 SOL and related equivalent assets, with a total value of approximately $98.1 million. Based on the company's latest reported total outstanding shares of 14,740,779 shares, the current SOL per share (SPS) is 0.042, which is approximately $6.65 per share based on today's price data. DeFi Dev Corp has positioned itself as the first public company to make Solana the core of its financial strategy. In addition to accumulating and staking SOL, the company is actively participating in DeFi opportunities and ecosystems. The company's funding strategy provides shareholders with direct economic exposure while supporting Solana's application layer development.
According to the monitoring of on-chain analyst Yu Jin, the whale/institution that purchased a total of 1,495 WBTC through revolving loans from July to November 2024 has recently sold WBTC for profit. The whale/institution currently has a comprehensive profit of US$49.75 million on WBTC: the sold part has realized a profit of US$19.17 million, and the unsold part has a floating profit of US$30.58 million.
The whale/institution purchased 1,495 WBTC at an average price of $69,162 in the second half of last year through a revolving loan, and then began to transfer WBTC to Binance in batches for sale and withdraw USDC to repay the loan since March this year. So far, 723 WBTC have been sold in exchange for 69.17 million USDC and repayment, with an average selling price of $95,678. And still holds 753.8 WBTC (82.6 million US dollars).
