Bitpush editor's daily selected Web3 news:
【Trump: Cryptocurrency is a very interesting thing, we have built a very strong industry】
US President Trump stated today in his speech that cryptocurrency is a very interesting thing, and we have built a very strong industry. Cryptocurrencies have created job opportunities, and Bitcoin has also reduced pressure on the US dollar. During the previous stock market decline, the value of cryptocurrencies dropped less than other assets, highlighting the resilience of the crypto sector.
【Ripple CEO: Will withdraw cross-appeal against SEC, lawsuit expected to end】
Ripple CEO Brad Garlinghouse announced today on X platform (formerly Twitter) that the company will withdraw its cross-appeal against the US Securities and Exchange Commission (SEC) and expects the SEC to withdraw its appeal as previously stated. Garlinghouse said this move marks an end to the years-long legal dispute and the company will focus on "building the value internet".
Previously, Ripple's Chief Legal Officer Stuart Alderoty had pointed out on June 26 that the court had given Ripple two choices: either dismiss their appeal against the historical institutional sales ruling or continue the appeal. He emphasized that regardless of the chosen path, XRP's legal status as a non-security remains unchanged. Ripple's withdrawal of the cross-appeal, combined with the SEC's previous stance, suggests that the highly anticipated Ripple-SEC lawsuit may be coming to an end.
【Data: Stablecoin startup VC funding exceeds 2021 peak】
According to the latest data from The Block, venture capital activity in stablecoins and payment categories has shown a significant rebound. Stablecoin startup VC funding has exceeded the 2021 peak, with 43 and 42 transactions recorded in the third and fourth quarters of 2024, setting a new quarterly transaction record in the field. This growth is particularly noteworthy, as the total transactions in this category for the entire year of 2021 were 87. In the first quarter of 2025, 7.5% of all venture capital transactions were directed towards payment providers or stablecoin issuers. Currently, the stablecoin and payment category is one of the few crypto areas that have surpassed 2021 performance indicators.
The report states that the rapid rise of stablecoin-enabled companies has attracted broad mainstream attention and institutional interest beyond traditional crypto investors. Circle's highly successful Initial Public Offering (IPO) played a key catalytic role, proving to traditional investors that stablecoin infrastructure can generate substantial returns and a sustainable business model. This institutional recognition has driven a large amount of venture capital into the broader stablecoin ecosystem in recent months.
【Robinhood launches XRP and Solana "micro" futures contracts】
Brokerage company Robinhood Markets (stock code: HOOD) announced the launch of micro XRP and Solana futures, marking the latest expansion of its cryptocurrency product lineup. The company has also introduced micro versions of its existing Bitcoin Friday futures product.
Micro futures are smaller-scale futures contracts that allow traders to speculate on or hedge against price changes of assets like stock indices, commodities, or currencies, with lower capital requirements and lower risks compared to standard futures.
Robinhood began introducing futures products for forex, indices, commodities, and cryptocurrencies earlier this year. Its first batch of cryptocurrency futures were all cash-settled, including Bitcoin futures, micro Bitcoin futures, Bitcoin Friday futures, and ETH futures. Later, Robinhood expanded to XRP and Solana futures.
【Trump family crypto project WLFI partners with Re7 Labs to launch USD1 Treasury】
The Trump family crypto project WLFI has partnered with Re7 Labs to launch the USD1 Treasury. Re7 Labs recently received up to $10 million in funding from the Hong Kong family office VMS Group, which manages around $4 billion in assets and is making its first entry into the cryptocurrency field. The treasury is reportedly part of a broader World Liberty plan aimed at expanding the USD1 stablecoin to BNB Chain.
【Arkham: BlackRock has purchased $1.15 billion worth of Bitcoin this week】
Arkham disclosed on X platform that BlackRock has purchased $1.15 billion worth of Bitcoin this week, with BlackRock's Bitcoin holdings reaching a historical high of $77.7 billion.
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