The Royal Government of Bhutan has deposited 700 BTC worth 43.75 million US dollars into Binance. （Onchain Lens）

Cryptocurrency cross-border financial platform Offramp announced the cessation of operations. Offramp has discontinued its transfer, QR code payment, deposit, and investment functions since July 1st. Starting from July 31st, Offramp will cease fiat currency deposits and withdrawals, cryptocurrency deposits, as well as physical cards, virtual cards, and mobile applications. On September 30th, Offramp stopped withdrawing cryptocurrency. On December 31st, Offramp closed its savings and investment accounts and officially ceased operations.

On July 4th, US President Trump signed a pardon order the day before Independence Day, pardoning a total of 11 people, including several who were sentenced for violating the Clean Air Act. FTX founder SBF has not yet been included in the announced amnesty list. Today (UTC+8) is the 250th anniversary celebration of the United States, and the market is paying attention to President Trump's statement. The pardon affairs are managed by a small team consisting of White House Special Counsel David Warrington, Chief of Staff Susie Wiles, and US pardon prosecutor Ed Martin.

European fintech company Revolut informs users that USDT will be delisted. Users can purchase USDT before July 6th, stop accepting USDT deposits on July 30th, and sell or withdraw USDT before August 31st. Afterwards, Revolut will convert the remaining USDT into fiat currency. Revolut's removal of USDT is due to the full implementation of EU MiCA regulations, and Tether's failure to meet MiCA compliance certification in the EU.

[CryptoQuant: Bitcoin's Realized Profit and Loss Ratio Drops to a 43-Month Low] According to a report by Cointelegraph, CryptoQuant data shows that Bitcoin's realized profit and loss ratio has dropped to -0.35, marking a 43-month low. The last time this indicator was at this level was in December 2022, after the FTX collapse when Bitcoin fell below $16,000. Currently, Bitcoin's price is 16% higher than the on-chain cost basis. Bitwise Chief Investment Officer Matt Hougan stated that the market bottom is closer than ever, while Swan Bitcoin analyst Adam Livingston advised investors to buy during the discount.