US Treasury Department sanctions two Iranian cryptocurrency insurance related companies

According to Bloomberg data, Bank of America customers have been buying US stocks for four consecutive weeks, and institutional investors have recorded their largest weekly net buying since December 2020. Retail investors bought, while hedge funds sold net for the third consecutive week. The technology, finance, and industrial sectors have the strongest inflow of funds, while the communication services, energy, and materials sectors have the weakest performance.

Binance KAITO's current price is $1.28, with a 24-hour increase of 12.28%. 24-hour transaction volume of 300 million US dollars, a decrease of 24%, for reference only

According to CoinDesk, stablecoin infrastructure company Brale has launched ION Protocol, which allows participating stablecoins to cross chains by being destroyed on the source chain and minted equally on the target chain, without the need to pre fund liquidity pools on each supporting chain. Brale currently supports over 100 stablecoin projects on more than 30 blockchains. ION adopts a destruction and minting mechanism similar to Circle CCTP, targeting any participating stablecoin issuer. The protocol will be tested online with partners such as Monad, Rain, Coinflow, Turnkey, Etherfuse, Spark, and Canton before deployment.

According to The Block, SoFi's Q2 cryptocurrency trading revenue was $134.3 million, with a net income of $1.2 million after deducting $133.1 million in transaction costs. At the same time, the SoFi Enterprise Banking platform began processing 24/7 commercial payments through SoFiUSD. This stablecoin has been opened to bank app users and supports buying, selling, holding, and exchanging on Ethereum and Solana.

Wall Street expects a sluggish second quarter from Coinbase as crypto trading activity cools, putting all eyes on and pending U.S. crypto legislation.