According to on chain analyst Ai Yi (@ ai_9684xtpa) monitoring, 3 hours ago, DFG founder James Wo's affiliated address recharged 1700 MKRs worth $3.47 million to Binance.
According to a report by Golden Finance, the European Central Bank may choose to temporarily postpone interest rate cuts in response to the economic risks posed by Trump's tariffs. In the final decision before entering the seven week summer break, policymakers may maintain the 2% interest rate unchanged on Thursday until the tariffs are truly implemented and their impact can be more accurately assessed. But policy makers are well aware that risks are lurking: in addition to tariff concerns, the strengthening of the euro is suppressing the price outlook and further squeezing exporters, while France's public finance problems may brew a new political crisis. In this context, the European Central Bank may acknowledge an increased possibility of a September interest rate cut internally. Morgan Stanley economists said that based on this, President Lagarde may reiterate in her statement on Thursday that growth risks are "trending downwards". We expect the wording of the committee after the meeting on July 24th to be similar to that expressed in June, reserving the possibility of further interest rate cuts but not making any commitments
According to BlockBeats news, on July 20th, according to the Wall Street Journal, insiders reported that US Treasury Secretary Vicente has privately advised Trump in recent days not to attempt to dismiss Federal Reserve Chairman Powell. Besant's reasons mainly focus on the following points: the possible impact on the economy and market, the possibility of the Federal Reserve cutting interest rates later this year, and the possibility of political and legal obstacles to recall. Bessent believes that firing Powell is unnecessary because the economy is performing well, the market is responding positively to the president's policies, and Federal Reserve officials have signaled that they may make two interest rate cuts before the end of the year. If Powell is fired before the end of his term, he may file a lawsuit, which could drag on until next spring, when Powell's term also comes to an end. Bessen also pointed out that the term of Director Kugler will end in January next year, and Powell's term will end in May, which will leave one or two vacancies for Trump to fill at the beginning of next year. Besent's cautious attitude contrasts with some other government officials who are considering adopting more aggressive strategies. Trump told reporters on Tuesday that he found Benson 'reassuring'.
According to Onchain Lens monitoring, another newly created wallet has withdrawn 400 BTC worth approximately $47.26 million from Binance. In the past 3 days, a total of 3 newly created wallets have withdrawn 1400 bitcoins from Binance, with a total value of approximately 165.18 million US dollars.
BlockBeats News: On July 20th, the White House praised the passage of the GENIUS Act, stating that it is a historic legislation that will pave the way for the United States to lead the global digital currency revolution. President Trump said that the bill "creates a clear and concise regulatory framework to establish and release the huge potential of a stable currency supported by the US dollar. This may be the greatest revolution in the field of financial technology since the birth of the Internet." Bo Hines, Executive Director of the Presidential Advisory Council on Digital Assets, said, "We are ensuring the dominance of the US dollar, unleashing innovation, and giving the United States permanent control over the future of digital finance White House Cryptocurrency Tsar David Sacks said, "Today we have achieved another historic legislative achievement, which is an important step for President Trump to fulfill his promise to make America the world's cryptocurrency capital Treasury Secretary Scott Bessent said, "Blockchain technology will drive the next generation of payments, and the US dollar is about to go live. Thank you to President Trump for his visionary leadership. The GENIUS Act will help solidify the US dollar's position as the global reserve currency for future generations
The People's Court of Pudong New Area, Shanghai announced on July 16th a case of illegal exchange of virtual currency that was sentenced in March this year. The case shows that Yang, Xu, and others operated domestic shell company accounts to provide stablecoins (with Tether as the trading medium) to unspecified clients' overseas accounts, thereby achieving cross-border fund transfers and earning profits. Over the past three years, they have participated in illegal foreign exchange trading with a total amount of 6.5 billion yuan. Among them, Yang is responsible for recruiting clients and allocating foreign exchange funds overseas, while Xu manages the corporate accounts of 17 shell companies in China, with daily processing of over 10 million yuan in capital flow. The division of labor is clear and the cooperation is close. According to the disclosed case, at the end of 2023, Ms. Chen, a resident of Shanghai, was restricted by China's annual foreign exchange quota of 50000 US dollars per person due to the need to remit money to her daughter overseas. She then contacted an overseas "exchange company" (the domestic shell company A controlled by Yang and others) and followed the instructions to transfer RMB into the account of Company A. Subsequently, her daughter's overseas account received an equivalent amount of foreign exchange, and the "exchange company" charged a certain percentage of transaction fees as compensation. For a long time, this criminal gang has been providing illegal exchange services to customers who have foreign currency and RMB exchange needs both domestically and internationally through cross-border "collusion" under the name of "collection and payment" overseas.
