BTC breaks through the $107000 mark

Federal Reserve Chairman Powell: Significant progress has been made towards the stablecoin framework. He also stated that future trade agreements may allow the Federal Reserve to consider interest rate cuts.

Daniel von Ahlen and Adrea Cicione of TS Lombard wrote that the additional returns required for investors to hold longer-term US bonds, namely term premiums, have not changed much recently. This stability indicates that the 10-year Treasury yield is unlikely to fall below 4%, as "if the risk premium is not substantially compressed, there is limited room for further decline in yields." They say that the Federal Reserve is unlikely to lower interest rates below 3% in the next easing cycle, which will further support high yields.

Federal Reserve Chairman Powell: The size of the US debt will not affect our ability to perform our duties.

BlockBeats reported that on June 25, the Wall Street Journal reported that the GENIUS Act to be passed by the US Congress will bring stable currency into the mainstream financial system, which has aroused strong interest from start-ups, banks and even Wal Mart and other giants. According to the GENIUS Act, stablecoin issuers are required to use safe assets such as cash and short-term US bonds as reserves, and large issuers are also required to publish audited annual financial reports. This poses a serious challenge to Tether, which holds 66% of the stablecoin market share (with a circulation of $156 billion) - the company's USDT is currently partially supported by Bitcoin and gold, and has long refused to fully disclose financial details. Former federal prosecutor Scott Armstrong, who has handled encryption cases, pointed out that this could result in Tether being unable to continue operating in the United States. '' Tether representatives did not respond to requests for comment. CEO Paolo Ardoino has expressed the possibility of issuing localized stablecoins to maintain US operations. The bill sets a transition period for compliance: the Senate version grants a three-year grace period, while the accompanying bill under consideration by the House of Representatives requires compliance to be achieved within 18 months, and ultimately needs to be signed into law by President Trump, who supports the bill.

Odaily Planet Daily News: Silo Labs stated in an article on the X platform that it has noticed security issues and that Silo's core smart contracts (including markets and treasury) will not be affected. The scope of the impact is limited to automatic leverage smart contracts, which have now been suspended.