Good Morning,

Here's a quick preview of today’s content: Musk’s new political party aligns with crypto, foreign arms dealers want their own stablecoins, a massive BTC whale has awakened from a deep sleep, Senator Lummis introduces a new Bitcoin tax-exemption bill, and so much more

This is a huge week so it’s time to lock in 🔒

Happy Monday - Let’s dive in.

Market Snapshot

• Major cryptocurrencies, rose as U.S. Treasury Secretary Scott Bessent hinted at imminent trade deals

• Bitcoin briefly topped $109,000, while XRP, Solana's SOL, and Dogecoin also saw significant gains

• The U.S. is nearing several trade deals before the July 9 deadline, after which higher tariffs may be reinstated if negotiations fail.

  • "President Trump's going to be sending letters to some of our trading partners saying that if you don't move things along, then on Aug. 1, you will boomerang back to your April 2 tariff level. So I think we're going to see a lot of deals very quickly," Bessent said (RT)

Market Predictions

• Bettors on Kalshi are predicting how many trade deals Trump will sign before Thursday - trade your predictions on a range of events, only on Kalshi

• Sign up with code LIT and get a $20 bonus when you trade $100

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Mysterious Bitcoin whale makes largest daily move in BTC history, shifting $8B in a single day (DE)

• Elon Musk says his new America Party will embrace BTC as 'fiat is hopeless' - see full statements here 

• Solo Bitcoin miner hits unlikely jackpot, earning $350K from mining block reward (DE)

• JPMorgan pilots carbon credit tokenization app to explore blockchain sustainability tools (TB)

• Judge allows Celsius lawsuit against Tether to move forward in U.S. court (TB)

• JPMorgan is wary of stablecoin's trillion-dollar growth projections (RT)

• Bitcoin volatility hit a two-year low (BBG)

• Bitcoin miner Riot smashes expectations, producing 450 BTC in June (BM)

• Blue Star Capital secures $1.25M to expand Bitcoin and crypto treasury holdings (BM)

• Gold explorer adds Bitcoin to its treasury, joining a growing industry trend (DE)

• The U.S. M2 money supply reached a record $21.94T in May (CD)

• Russia’s Rostec explores launching a TRON-based stablecoin for military payments (DE)

• Coinbase's Layer 2 solution, Base, has experienced a net outflow of $4.3B this year, reversing its previous position as a top performer (CD)

• Ethereum DeFi protocol Ondo adds tokenized stocks via Robinhood integration (DE)

• You can now buy a Martian meteorite for Bitcoin as 4 M sats sale goes live (DE)

• Tether is partnering with Adecoagro in Brazil to explore renewable energy-powered bitcoin mining (CD)

• Detroit sues crypto real estate platform over safety and health violations (DE)

• Telegram’s crypto ecosystem nears unicorn status with billion‑dollar valuation on Open platform (DE)

• Bitmine receives $250M investment to fund Ethereum treasury expansion (CT)

• Sweden orders police to increase crypto seizure efforts to prosecute criminal profits (DE)

• TON Foundation offers pathway to 10-year UAE Golden Visa for $100K in staked TON and a $35K fee (TB)

• Ethereum Time Capsule project will preserve memes, memories, and culture onchain (TD)

• Kraken invites users to name its new L2 mascot using JokeRace, with rewards offered (TB)

• China’s stablecoin strategy aims to reduce reliance on the U.S. dollar and expand yuan influence (CN)

Venture Capital

• Telegram blockchain startup TOP raised a $28.5M Series A at a $1B+ valuation led by Ribbit Capital (TFN)

• Amber International raises $26M from CMAG Funds, Mile Green, Pantera Capital, and others to build crypto reserve for global finance use cases (TB)

Launches

• Geyser launches 10K‑wallet Nostr Wallet Connect grant to spark open‑source innovation (BM)

• Impossible Cloud Network launches mainnet and token after raising $34M at $470M valuation (TD)

Regulation

• Senator Lummis introduces a new Bitcoin tax-exemption bill that cuts down on capital gains tax (BM)

• Hong Kong eyes stablecoin licenses this year, but approvals likely to stay in single digits (TB)

Cybersecurity

• Hackers stole $140M from a network of Brazilian banks connected to the country's central banking system using only $2.7K (DC)

• U.S. Secret Service has recovered nearly $400M in crypto stolen by criminals (TB)

• Fake crypto wallet extensions flood Firefox store, draining user funds (DE)

• India’s top darknet drug syndicate used Monero to evade law enforcement, sources say (DE)

• WhiteRock founder linked to $30M ZKasino scam arrested in UAE (TD)

• North Korean hackers target crypto firms with fake Zoom updates carrying Nimdoor malware (TB)

Extra Reads

• SEC Delays Grayscale Crypto ETF Launch Despite Approval - A breakdown of what’s going on

• Pinata CEO Kyle Tut reveals why data verification is only going to become more necessary - Why we need a wallet on every device in a post-AI world

Chart of the Day

Bitcoin’s correlation with U.S. equities remained elevated through the end of the quarter, closing at 0.48, a level near the higher end of its historical range

Meme Dump

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