SnapShot 266

Hello SnapShotters,

As the FIFA World Cup knockout stages continue to thrill and surprise fans, the markets are having their own field day. Bitcoin (BTC) snapped back above US$60,000 after softer-than-expected US jobs data cooled rate-hike concerns. 

ETH and SOL were some of the biggest blue chip risers in the post-holiday rally. Mid-week, fresh military tensions and energy-related jitters crept back, capping crypto gains, Nasdaq’s renewed AI optimism, and the Dow’s intraday high.

Bitcoin treasury firm Strategy made its largest-ever BTC sale, unloading 3,588 BTC for roughly $216 million, but the impact was felt differently from its sale in June. STRC rose, and BTC didn’t crater; the new capital framework of how Strategy will service obligations while preserving long-term BTC exposure may have boosted investor confidence (more on that below).

Here are the other stories worth watching.

Past performance is not indicative of future results.

News Snaps

💸 US spot BTC ETFs recorded their eighth consecutive week of net outflows despite a $221.7 million inflow last Thursday. Spot ETH ETFs lost a net $13.7 million.

⚙️ Vitalik Buterin outlined 'Lean Ethereum', a multiyear effort set to rival the Merge in scale and impact. Vitalik also said Hegota will be the network’s last 'pre-Lean' hard fork.

🏛️ Tokenisation firm Securitize began trading on the New York Stock Exchange (NYSE), simultaneously tokenising its common stock on Solana and Avalanche.

🪙Over 140 companies, including Visa, Mastercard, Stripe, and BlackRock, have joined the Open Standard consortium to launch OUSD, a dollar-backed stablecoin with shared ownership and reserve economics.

💵 According to Visa’s on-chain dashboard, USDC outpaced USDT in adjusted stablecoin transaction volume.

🇺🇸 The US Securities and Exchange Commission (SEC) is expected to propose 'Regulation Crypto' as soon as this month, a set of new rules making it easier for crypto startups to launch projects and raise capital.

📅 What's Ahead

• 14 July: June’s Consumer Price Index (CPI)
• 15 July: Federal Reserve's Beige Book regional economic summary
• 3 to 23 July: Cardano’s Van Rossem hard fork window

Chart of the Week

How Much Cash Is Enough for Strategy?

Strategy's new Digital Credit Capital Framework seeks to strengthen its financial cushion while keeping BTC at the centre of its strategy.

Before the policy change, the company's cash reserve fell below $1 billion, which can cover only about nine months of preferred dividend obligations. 

Now that it can sell BTC to replenish reserves, Strategy's available liquidity rises to nearly $4 billion, extending dividend coverage to more than two years.

See how the framework alters Strategy’s cash position, in greater detail

Crypto Trivia

The CLARITY and GENIUS Acts are seen as the twin pillars of US crypto regulation. Which best describes the difference between what they enforce?

A) The GENIUS Act regulates the operational code of Layer-1 blockchains. The CLARITY Act regulates decentralized exchanges (DEXs) and node validators. 

B) The GENIUS Act enforces strict banking-level backing and disclosure rules for payment stablecoins. The CLARITY Act draws the jurisdictional boundary line between the SEC and the CFTC for the rest of the digital asset market. 

C) The GENIUS Act enforces cryptocurrency tax reporting rules (Form 1099-DA). The CLARITY Act enforces federal cybersecurity standards against malicious smart-contract exploits.

Find the correct answer at the end of this newsletter.

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Security Tips

Option 1: Beware of Scammers Impersonating Crypto.com and Microsoft Support

Since May, at least 30 victims in Singapore have lost a combined $1 million to scammers impersonating Microsoft and Crypto.com representatives. Fraudsters contact targets with fake security alerts, then instruct them to transfer funds to 'protect' their accounts.

Crypto.com will never ask you to transfer funds to a 'safe' wallet, share your password or two-factor authentication codes, or download remote access software. Always access your account through the official Crypto.com App, Exchange, or website. If you receive any suspicious communication claiming to be from Crypto.com, verify its authenticity at Crypto.com Verify.

Read how the scam works and how to stay safe

Source: The Straits Times

Crypto Trivia Answer

B) The GENIUS Act enforces strict banking-level backing and disclosure rules for payment stablecoins. The CLARITY Act draws the jurisdictional boundary line between the SEC and the CFTC for the rest of the digital asset market. ✅

That's it for this week's SnapShot. Want more? Find out what’s trending in the crypto world.