Bitget Daily Digest (7.8)｜Trump Delays Tariff Deadline to August 1, Russia Launches Nationwide Mining Equipment Registry, Letsbonk Overtakes Pump on Multiple Fronts
Today’s Preview
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U.S. June NFIB Small Business Optimism Index to be released today (previous: 98.8)
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U.S. June New York Fed 1-Year Inflation Expectations to be released today (previous: 3.20%)
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U.S. asset manager Calamos to launch three Bitcoin principal-protected ETFs today
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ThunderCore’s planned WLFI token airdrop: last day for Thunder Time point accumulation
Macro & Hot Topics
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Trump delays tariff deadline to August 1; Japan, South Korea face at least 25% tariffs. On July 8, President Trump signed an executive order pushing the effective date and negotiation deadline for reciprocal tariffs from July 9 to August 1. He sent the first batch of tariff letters to 14 countries: Japan and South Korea face an additional 25% tariff from August 1, while Malaysia, Kazakhstan, and Tunisia face 25%, South Africa 30%, Laos and Myanmar 40%, Indonesia 32%, Bangladesh 35%, Thailand and Cambodia 36%, Bosnia 30%, and Serbia 35%. Politico also reports the U.S. is proposing EU tariffs at 10% with restrictive clauses.
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U.S. SEC urges issuers to revise and resubmit spot Solana ETF applications by end of July. According to CoinDesk, the SEC is pushing ETF issuers to update and resubmit spot SOL ETF filings by the end of July, indicating a faster-than-expected approval timeline. The REX-Osprey SOL and Staking ETFs have already secured automatic approval and began trading last week under different regulations, meaning spot SOL ETFs will soon join Bitcoin and Ethereum as approved spot crypto funds in the U.S., while XRP, DOGE and LTC ETFs remain pending.
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Strategy announces $4.2B STRD preferred share sale, proceeds to buy Bitcoin. On July 7, Strategy (Nasdaq: MSTR/STRK/STRF/STRD) announced a sales agreement to issue up to $4.2B in 10% Series A perpetual Stride Preferred Stock. The company will gradually sell the shares based on market conditions. As the world’s largest BTC holding company, Strategy plans to use most proceeds to buy Bitcoin, meet operating needs, and pay dividends on existing preferreds. The new shares will be sold via "at-the-market" offerings under U.S. securities law, with the prospectus filed July 7 with the SEC.
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FTX creditor rep: Chinese investors hold $380M in claims, 82% of restricted jurisdictions. FTX creditor rep Sunil posted an update on X that restricted-jurisdiction claims total $470M, with Chinese investors holding $380M, or 82%. Uncompleted-KYC claims (Bahamas) stand at $290M; disputed claims total $660M; unresolved claims are $1.4B; and the final allowed claims are expected to reach $11B.
Market Updates
Institutional Views
News Updates
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Russia starts nationwide crypto mining equipment registry to combat illegal mining and boost tax revenue
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Hong Kong Treasury Secretary: Tokenized green bond settlement shortened to T+1
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Shenzhen, China: Warning against illegal fundraising under the guise of stablecoins
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Ukraine sanctions 60 Russian crypto firms, citing sanctions evasion
Project Developments
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TON Foundation clarifies rumors of UAE golden visa partnership
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U.S. SEC urges spot Solana ETF issuers to revise and resubmit by end of July
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Pump.fun’s protocol fee revenues yesterday were down over 86% from historical highs
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Letsbonk.Fun surpassed Pump.fun in both token launches and “graduations” in 24h
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The SEC delayed its decision on the Fidelity spot Solana ETF
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Strategy bought no Bitcoin between June 30 and July 6
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Babylon to launch BTC multi-staking testnet in Q3, aiming for mainnet in Q4
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Nansen: Pendle has become DeFi’s rate infrastructure, paying $3.86M to vePENDLE stakers in May alone
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ETHGlobal Cannes hackathon reveals 10 finalists, covering AI, DeFi, and more
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Aevo completed its June token buyback, repurchasing a total of 1 million AEVO
X Highlights
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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