Bitcoin Will Rally as U.S. Growth Improves, Crypto Bills Progress: Coinbase Research
2025-06-12 17:26
U.S. economic resilience and stablecoin legislation will drive optimism for BTC, with the fate of altcoins being less certain.
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More >Today 2025-07-11
16:56
Bloomberg claims Binance helped WLFI write USD1 code, CZ accuses former of false reporting
On July 12th, according to Bloomberg citing three informed sources, Binance helped WLFI create (write basic code), promote USD1 stablecoin, and played a role in its largest transaction before CZ sought amnesty. CZ stated that Bloomberg's article was sponsored by a competitor and contained multiple factual errors.
16:55
CZ: Bloomberg has published another false article sponsored by a competitor, and may sue again for defamation
Odaily Planet Daily News: CZ posted on X platform, saying: "Bloomberg just published another offensive article (sponsored by a competitor), which contains so many factual errors that I don't even know where to start. They may have to be sued again for defamation. ” Previously reported by Bloomberg（ https://www. (bloomberg.com)/news/features/2025-07-11/trump-s-crypto-link-with-binance-raises-conflict-of-interest-questions）， Binance once wrote smart contract code for the stablecoin USD1 of World Liberty Financial, a subsidiary of the Trump family, and assisted in promoting and participating in its largest transaction (the UAE fund MGX used USD1 to purchase $2 billion worth of Binance shares). At present, over 90% of the issued USD1 is still stored in Binance Wallet, and the related interest income may bring about $30 million annually to the Trump family. This news has raised concerns about potential conflicts of interest between President Trump and CZ regarding a 'pardon exchange'.
16:43
Arkham Exchange will launch trading of PUMP spot and perpetual contracts
BlockBeats News: On July 12th, according to official sources, Arkham Exchange will launch trading of PUMP spot and perpetual contracts. After the completion of the PUMP ICO, the transaction will be officially launched.
16:40
Viewpoint: The Genius Act guarantees priority for stablecoin holders, and Bank of America may "foot the bill" for it
On July 12th, according to DL News, the Genius Act passed by the US Senate is attracting attention from banks and the legal community. The bill grants stablecoin holders priority claims over their backed assets in the event of bankruptcy, which could put traditional banks and other customers at risk. Georgetown University law professor Adam Levitin warns that this arrangement is essentially "subsidizing stablecoin issuance at the expense of bank deposits" and may harm the interests of ordinary bank customers, especially in the event of the bankruptcy of the stablecoin issuer or its custodian bank. The current version of the bill stipulates that the stable currency must be supported by highly liquid assets (such as US treasury bond bonds), the issuer needs to disclose the reserves every month, and has the ability to freeze tokens. If approved, banks and other entities will be able to issue compliant stablecoins. The bill is currently awaiting review by the United States House of Representatives. Although aimed at enhancing user confidence and strengthening the connection between stablecoins and the real financial system, the design of their bankruptcy priority has also sparked discussions on regulatory logic, financial stability, and potential interbank benefit distribution. Industry insiders have expressed that the bill may become a turning point for the development of stablecoins, while also exacerbating concerns about the impact on the traditional financial system.
16:21
Viewpoint: Currently, most currencies have not reached ATH, which may indicate that Bitcoin still has significant upward potential
BlockBeats News: On July 12th, according to The Kobeissi Letter citing Sentimentrader's data analysis, the vast majority of currencies are currently not within the historical high range (5% of the 252 day high range). By contrast, when Bitcoin set new records in February and November 2024, approximately 75% and 40% of cryptocurrencies were within 5% of its 252 day high, respectively. Historically, when the trading prices of a large number of cryptocurrencies approach historical highs, Bitcoin tends to fall back. The current divergence indicates that Bitcoin may have even greater upside potential.