Trader AguilaTrades gains and increases position, currently long 1974 BTC with 20 times leverage

According to Lookonchain monitoring, over the past 7 days, Tron's stablecoin (USDT&USDC) has increased by $1.38 billion, while Avalanche's stablecoin (USDT&USDC) has decreased by $768.6 million.

Odaily Planet Daily News Bernstein said that the GENIUS Act, the US stable currency regulation bill, is likely to be passed into law in the next few months. Once the bill is passed, the stable currency is expected to develop into the monetary track of the Internet and become the Internet cash layer. Bernstein said that the GENIUS Act prohibits non-financial listed companies from becoming stable currency issuers, but it was recently reported that Amazon and Wal Mart are exploring the use of these cryptocurrencies. If e-commerce and technology platforms want to use these cryptocurrencies, they may have to cooperate with regulated U.S. issuers instead of issuing their own stable currencies. （CoinDesk）

According to CryptoSlate, Solana co-founder Anatoly Yakovenko publicly opposes Cardano's proposal to convert $100 million in treasury funds into Bitcoin and stablecoins, calling the decision "extremely foolish". Yakovenko said that the project party only needs to hold short-term treasury bond for 18-36 months as emergency fund, and questioned "why should we hold Bitcoin for users". The controversy stems from a proposal by Cardano founder Charles Hoskinson on June 14th, aimed at enhancing the liquidity of its DeFi ecosystem stablecoin. The community is concerned that the large-scale sale of ADA will impact the coin price. Hoskinson argues that the market depth is sufficient to absorb the selling pressure and points out that the current Cardano stablecoin scale of only $33 million on the chain has endangered ecological development. The proposal will be submitted at the Rare Evo Annual Event.

JUST IN: Bitcoin reclaims 107,000.

The move follows registration for a standalone Truth Social bitcoin ETF earlier this month.