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According to The Block, the United States and the United Kingdom are deepening their cooperation on digital assets, releasing a joint statement from the Transatlantic Future Markets Working Group, stating that regulated stablecoins have the potential to enhance the efficiency and competitiveness of the financial system. This working group was established last year to deepen cooperation between the two countries and reduce market fragmentation.The joint statement calls for the Bank of England, the UK Financial Conduct Authority (FCA), and the US CFTC and SEC to develop a framework for the treatment of tokenized assets, and instructs the FCA and SEC to "explore options to facilitate cross-border financing." The statement also proposes support for competition and innovation in assets such as stablecoins and tokenized deposits, emphasizing standards for custody, reserve isolation, and consumer protection, and providing clear priority legal claims for stablecoin holders in the event of bankruptcy. This statement comes on the one-year anniversary of the passage of the US GENIUS Act, with Federal Reserve Chairman Kevin Warsh stating at a House Financial Services Committee hearing that "relevant rules are being introduced just ahead of the July 18 deadline."

According to Jinshi reports, the tensions between the U.S. and Iran escalated sharply this week, with mutual attacks leading to the collapse of a fragile ceasefire agreement that had lasted for about three weeks. The inflationary pressure driven by rising oil prices has reignited expectations for the Federal Reserve to tighten its policies. During the same period, U.S. stocks largely ignored geopolitical uncertainties, with the "AI trading" frenzy regaining momentum, as the S&P 500 index approached an all-time high, and both it and the Nasdaq recorded a consecutive weekly gain. SK Hynix's ADR surged 13% on its first day, with a fundraising amount of $26.5 billion, making it the highest fundraising foreign company IPO in U.S. stock market history.In the coming week, the U.S.-Iran situation, U.S. CPI and other economic data, and speeches from Federal Reserve officials will capture Wall Street's attention. There is particular anticipation for whether Federal Reserve Chairman Waller can provide more clues about the interest rate outlook under questioning in Congress, although his determination to cancel forward guidance leaves little room for optimism. The macro data events for next week are as follows:MondayFederal Reserve Governor Waller speaksTuesdayU.S. ADP employment change for the week ending June 27U.S. June CPI and core CPIFederal Reserve Chairman Waller attends the House Financial Services Committee "Federal Reserve Semiannual Monetary Policy Report" hearingWednesday2027 FOMC voter and Chicago Fed President Goolsbee participates in a fireside chatU.S. June PPI and core PPIFOMC permanent voter and New York Fed President Williams speaksFederal Reserve Chairman Waller attends the Senate Banking, Housing, and Urban Affairs Committee "Federal Reserve Semiannual Monetary Policy Report" hearingFederal Reserve releases the Beige Book on economic conditionsThursdayU.S. initial jobless claims for the week ending July 11, U.S. June retail sales month-on-month, U.S. July Philadelphia Fed manufacturing index2026 FOMC voter and Dallas Fed President Logan speaksFederal Reserve Vice Chairman Jefferson speaks on the economy and monetary policy

According to Jinshi reports, UBS Global Wealth Management has postponed its expectations for the Federal Reserve's interest rate cuts to March and June 2027, and no longer expects any rate cuts this year. The institution stated that this move reflects its judgment that this week's meeting will release hawkish signals. UBS expects the Federal Reserve to cut rates by 25 basis points in March and June next year. The Federal Reserve will announce its interest rate decision this week, and the market generally expects rates to remain unchanged. UBS analysts indicated that the tone of this meeting will be more hawkish, and major central banks will not shift to dovish policies due to the agreement between the U.S. and Iran.

As SpaceX approaches its IPO, speculation in the market about Elon Musk integrating Tesla and SpaceX has intensified. Insiders say that Musk has previously discussed the possibility of merging the two companies with internal personnel, and Tesla has long believed that the two sides may eventually move towards integration.Reports indicate that the two companies have deepened their cooperation in the AI infrastructure field in recent years, sharing executives, technology, and supply chains, and have begun collaborating in areas such as energy storage systems, vehicle procurement, and GPU order allocation. Legal experts state that if a merger is pursued, antitrust resistance may be limited, but valuation, share exchange ratios, and coordination of shareholder interests will be relatively complex.

According to crypto journalist Eleanor Terrett, multiple industry insiders have revealed that the Senate Banking Committee may notify about the review of the CLARITY Act as early as tomorrow and has distributed the legislative draft text to some industry members, with a vote expected next Thursday.Insiders stated that the language of the draft is still being finalized, and additional revisions are anticipated to reflect the priorities of the Democratic office. One insider, after reviewing the bill and coordinating with industry leaders, indicated that the overall atmosphere is currently positive, but some terms in parentheses have raised concerns, and some key provisions that were previously thought to be resolved may still be subject to change.

According to Cointelegraph, the joint law enforcement operation "Operation Atlantic" by the United States, the United Kingdom, and Canada was completed in March this year, led by the UK's National Crime Agency (NCA). Over $12 million in suspected fraud proceeds were frozen, and more than 20,000 victims were identified, with a total fraud amount exceeding $45 million.This operation focused on authorized phishing attacks—a scam technique that induces users to sign malicious authorizations, thereby allowing attackers to transfer tokens from the wallet. Binance participated by providing account screening and fraud intelligence support, but no funds were frozen from its platform.

According to Jinshi News, Citibank expects the Federal Reserve to cut interest rates in September, whereas the market previously anticipated a rate cut in June.

According to a report by Jinshi, Roger Lüger, head of multi-asset solutions at Swisscanto/ZKB, stated in a report that the Federal Reserve's rate cuts this year may exceed current expectations, mainly due to a potential weakening of the labor market.The Federal Reserve maintained its policy rate this week and expects one rate cut this year. Lüger anticipates rate cuts in September and December, while the money market currently expects the rate cut to be less than one this year.

According to Decrypt, the U.S. Secret Service will collaborate with the UK's National Crime Agency, the Ontario Provincial Police, and the Ontario Securities Commission, among other agencies, to launch an international joint operation called "Operation Atlantic," aimed at combating cryptocurrency scams such as "authorized phishing" or "pig butchering." These scams typically lure victims into granting access to their funds through online fake romantic relationships.U.S. Secret Service officials stated that the operation will identify and dismantle these scams in near real-time, preventing criminals from profiting further. The UK side noted that such scams are becoming increasingly complex, and the operation aims to protect the public through early warnings and asset protection. This collaboration builds on the "Operation Atlas" initiated by Canadian authorities in 2024. According to a Chainalysis report, cryptocurrency crime alone caused losses exceeding $17 billion last year.

According to CoinDesk, law enforcement agencies from the United States, the United Kingdom, and Canada have jointly launched a multinational operation called "Operation Atlantic," focusing on combating "approval-phishing" scams targeting cryptocurrency users.The Ontario Securities Commission stated that these scams typically use pop-ups and prompts disguised as trustworthy applications or services to guide users into authorizing malicious wallet permissions. Once authorized, attackers can control the wallet and transfer assets. Data shows that cryptocurrency scams are expected to generate at least approximately $14 billion in on-chain illegal revenue by 2025, with the total scale potentially approaching $17 billion as more involved wallets are identified.Law enforcement agencies pointed out that current scam activities increasingly rely on social engineering, AI-generated content, and "Phishing-as-a-Service" platforms. The operation is being coordinated by multiple national law enforcement agencies, and regulators stated that the new initiative will help identify victim wallets, timely warn potential victims, and attempt to track and freeze stolen cryptocurrency assets to reduce the space for criminals to profit further.

According to CNN, multiple informed sources have revealed that during the planning of the current operation, the U.S. Pentagon and National Security Council seriously underestimated the likelihood of Iran closing the Strait of Hormuz in response to U.S. military strikes.Sources say that Trump's national security team failed to adequately consider the consequences of the worst-case scenario. Three individuals familiar with the closed-door meetings stated that during a recent classified briefing, senior officials in the Trump administration admitted to lawmakers that they had not anticipated Iran would close the Strait of Hormuz in retaliation for an attack.

The UK Treasury announced on Monday that the UK and US governments will establish a "Transatlantic Future Markets Working Group," aimed at reducing the cumbersome procedures for businesses to enter the capital markets of both countries and improving cooperation in the field of crypto assets.The working group will submit a report within 180 days, exploring short-term cooperation improvements and long-term options, particularly in the wholesale digital markets sector. This initiative has been approved by UK Chancellor of the Exchequer Rachel Reeves and US Treasury Secretary Scott Bansen, and will be co-chaired by officials from both treasuries, with participation from regulatory bodies in both countries.

According to Jinshi News, JPMorgan no longer expects the Federal Reserve to cut interest rates, but instead anticipates a rate hike in 2027.

According to Jinshi News, JPMorgan no longer expects the Federal Reserve to cut interest rates in 2026, having previously anticipated a 25 basis point cut in January. JPMorgan expects the Federal Reserve to raise interest rates by 25 basis points in the third quarter of 2027.

The cryptocurrency market research firm Santiment stated on social media that since December 17, whales and large holders holding 10-10,000 BTC have accumulated an additional 56,227 BTC. This movement marks a local bottom in the cryptocurrency market.Although the overall market trend is relatively flat, the bullish divergence created by the accumulation behavior of large holders is bound to drive the market to at least a slight breakout. In the past 24 hours, the market situation has further improved, as retail traders (wallets holding 0.01 BTC) are starting to take profits, expecting the current situation to be a bull trap/fake rebound. Santiment indicated that, according to the indicators, the current market has entered a bullish range, and the probability of the total cryptocurrency market capitalization continuing to grow is higher than usual. However, caution is still needed, as whales may change their minds at any time and quickly take profits.

Netflix recently announced the official start of filming the cryptocurrency-themed romantic comedy film "One Attempt Remaining," marking the first time the crypto industry enters the mainstream Hollywood spotlight in a light-hearted comedic form. The film is directed by Kay Cannon and stars Golden Globe winner Jennifer Garner, with a plot revolving around a pair of ex-couples racing against time to recover their cryptocurrency wallet password.Industry insiders point out that in the past, cryptocurrencies were often associated with crime, money laundering, or speculative bubbles in film and television works, leading to a negative image, and they mostly appeared in independent films or niche genres. As cryptocurrency technology gradually moves into the mainstream and public awareness increases, this singular narrative is slowly changing.Several filmmakers and Web3 practitioners believe that the lack of deep integration of cryptocurrency into daily life is a significant reason for its long absence from mainstream screens. However, as the concepts of tokenization of real-world assets, cryptocurrency payments, and wallets become more understood by the public, film and television works are beginning to attempt to make the blockchain mechanism itself the core of their narratives.Industry expectations suggest that if cryptocurrency plays a more important role in the global economy in the future, its themes will appear more frequently in commercial films, adventure films, and heist movies, and the on-screen image of cryptocurrency is expected to move from the "gray area" to a more three-dimensional and diverse representation.

The market research firm BCA Research, led by well-known Wall Street bear Peter Berezin, has released a new report titled "Return of Nasdog," offering a cautious outlook on the market. Its core viewpoint is that the artificial intelligence boom will come to an end, while U.S. economic activity will significantly slow down.BCA Research states that the issue of excessive investment in the AI sector should have already manifested, with investments in the U.S. technology and software sectors reaching 4.4% of GDP by 2025, close to the levels seen during the internet bubble. Given that the annual depreciation rate for AI assets is typically around 20%, this means that tech giants will face an annual depreciation cost of $400 billion, which exceeds their total profits for 2025.BCA Research also mentions that the expected price-to-earnings ratio for the S&P 500 index at the beginning of 2026 will be as high as 22.6 times, well above the historical median of 18 times. The already fragile stock market will find it even harder to sustain itself under the impact of the collapse of the optimistic narrative surrounding AI. BCA Research predicts that "in the second half of 2026, nearly all sectors of the U.S. stock market will experience a crash." However, this will also prompt the Federal Reserve to accelerate its rate cuts in the second half of 2026, with the federal funds rate expected to drop to 2.25% by the end of 2026, and the yield on 10-year U.S. Treasury bonds falling to 3.1%.

According to the 10x Research report, Bitcoin's price has shown limited fluctuations recently, but the pricing in the derivatives market has begun to reflect potential significant market changes.The report points out several structural signals in the market: volatility is being bought rather than sold, option skew has shifted back towards downside protection, funding rates have decreased, futures open interest is showing divergence, and there is a continued net outflow from ETFs. The report believes that although the market appears stable at first glance, the funding positions and pricing structure indicate that the market is preparing for unexpected events. Bulls typically view the rebuilding of the U.S. Treasury general account, the end of quantitative tightening, and potential interest rate cuts as liquidity positives, but if the market structure lacks consistent support, macro expectations are unlikely to drive a sustained trend. 10x Research notes that merely having liquidity is not enough to create directional trends; it is still necessary to observe whether leverage levels, position structures, and trading flows are synchronized. This weekly report covers Bitcoin and Ethereum's derivatives positions, volatility trends, funding rates, ETF and stablecoin flows, options activity, as well as potential ranges and key catalysts for the next 1 to 2 weeks.

BitMEX co-founder Arthur Hayes posted on platform X regarding the Tether audit report, stating, "The Tether team is in the early stages of large-scale interest rate trading. They believe the Federal Reserve will cut interest rates, which will significantly reduce interest income. To cope with this situation, they are buying gold and Bitcoin; theoretically, as the price of currency falls, the prices of these assets should soar. If the holdings of gold and Bitcoin drop by about 30%, their equity will vanish, and at that point, USDT could theoretically go bankrupt. I believe some large holders and exchanges will demand real-time access to their balance sheets to assess Tether's solvency risk."