Bitpush editor's daily selected Web3 news:
【Federal Reserve maintains interest rates unchanged, Powell avoids providing guidance on September rate cut】
The Federal Reserve maintained interest rates at 4.25%-4.50%, with board members Waller and Bowman voting against and advocating for a rate cut.
Powell avoided providing guidance on a September rate cut during the press conference, stating that the current monetary policy stance is in a favorable position, emphasizing data dependence, and that inflation target is far from employment. It is reasonably inferred that the impact of tariffs on inflation is temporary.
【White House releases digital asset report, Bitcoin reserve plan lacks substantial updates】
The White House released a long-awaited digital asset report, which outlined a national strategy aimed at positioning the United States as a global leader in blockchain, cryptocurrency markets, and tokenized finance. Although the report covered a broad range of digital asset policy areas, it did not provide substantial updates on the government's Bitcoin reserve plan, merely reiterating the statements from the January executive order by President Trump, without listing subsequent steps or implementation timeline.
This report stems from an executive order signed by President Trump in January, which established an interagency working group on emerging technologies such as digital assets and artificial intelligence. The 166-page document was led by White House Cryptocurrency and AI Affairs Head David Sacks and Executive Director Bo Hines, integrating opinions from the Treasury Department, Commerce Department, SEC, and CFTC, listing multiple proposals for simplifying regulation, supporting innovation, and modernizing oversight.
【Bloomberg ETF Analyst: SEC crypto ETP "listing standards" officially published, approval expected to accelerate, multiple cryptocurrencies may be approved】
Bloomberg ETF analyst Eric Balchunas confirmed that the SEC's "listing standards" for cryptocurrency exchange-traded products (ETP) have been officially published through new exchange filing documents. According to the new standards, any cryptocurrency with over six months of futures tracking record on Coinbase derivatives exchange may have its corresponding ETP approved. This means future qualifying ETPs will not require individual complex reviews, significantly simplifying the listing process.
It is understood that approximately a dozen mainstream cryptocurrencies currently meet the conditions, largely consistent with the previously high-probability approval list. Although the standards are clear, Balchunas emphasizes that the specific listing time remains crucial, predicting these ETPs might receive final approval around September or October this year.
【Robinhood Q2 2025 crypto business revenue is $160 million, market expected $162.1 million】
Robinhood(HOOD.O) Q2 2025 crypto business revenue is $160 million, market expected $162.1 million.
【MARA CEO warns: Corporate Bitcoin hoarding trend risks, Bitcoin may face 20% to 30% pullback】
MARA Holdings CEO Fred Thiel warned on Tuesday that the current trend of companies rushing to incorporate Bitcoin into asset reserves may pose risks, and not all followers will succeed, potentially even exerting downward pressure on Bitcoin price.
Thiel stated that when too many companies enter the same strategy, advantages disappear. He emphasized that Bitcoin asset companies differ from ETFs, and if their "market cap/holdings market cap ratio" (mNAV) is pressured, they might be forced to sell Bitcoin, thereby exacerbating market decline. He even compared the current phenomenon to the 2017 ICO bubble.
Despite MARA itself owning a large amount of Bitcoin obtained through mining rather than purchasing, and achieving record performance in Q2, Thiel cautioned the market that recent whale selling behavior indicates they are selling at market highs, while companies chasing hoarding might be buying at peaks, with demand ultimately fluctuating. He predicts Bitcoin won't crash dramatically but might experience a 20% to 30% pullback.
【Bitcoin options exposure exceeds $57 billion, institutional hedging demand surges】
According to The Block, as of July 28, the Bitcoin options market was active, with total outstanding contracts soaring to nearly $50 billion. Including the rapidly growing Bitcoin ETF options market (with BlackRock's IBIT fund contributing an additional $7 billion), total Bitcoin options exposure has exceeded $57 billion.
This indicates unprecedented institutional and retail demand for structured Bitcoin products. Deribit dominates the native crypto options market with approximately $45 billion in outstanding contracts, consolidating its position as the primary Bitcoin derivatives trading venue.
Analysts state that market demand for hedging and speculative tools continues to increase, with options providing critical risk management tools for Bitcoin miners, institutional holders, and trading companies. The SEC also voted on Tuesday to approve options for "certain spot Bitcoin ETPs" and raised position limits, further driving market development. This reflects the continuously increasing institutional adoption of Bitcoin as an investable asset, naturally driving hedging strategy demand.
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