Important information last night this morning (July 2-July 3)

### Key Developments in Crypto and Finance  

#### **1. PayPal Co-Founder Plans "Erebor Bank" for Crypto & AI Startups**  

- **Details**: PayPal co-founder Peter Thiel and tech billionaires plan to launch **Erebor Bank**, targeting crypto, AI, defense tech, and manufacturing startups.  

- **Regulatory Move**: Applied for a U.S. national bank charter.  

- **Backers**: Anduril’s Palmer Luckey, Palantir’s Joe Lonsdale, and Thiel’s **Founders Fund**.  

- **Unique Feature**: Will hold **stablecoins on its balance sheet** (specific tokens undisclosed).  

- **Context**: Aims to fill the void left by **Silicon Valley Bank (SVB)**, which collapsed in 2023.  

#### **2. Duodian Zhihui (HK Stock: 02586) Surges 90% on Bitcoin Holdings & Stablecoin Plans**  

- **Stock Jump**: Shares soared **~90%** after announcing Bitcoin investments and plans to apply for a **Hong Kong stablecoin license**.  

- **Strategy**: Partnered with **HashKey Group** for Web3 and digital asset services.  

- **CFO Statement**: "Crypto is becoming a key part of global commerce."  

#### **3. Solana Staking ETF (REX-OSPREY) Debuts with $33M Volume**  

- **Performance**: Outpaced Solana/XRP futures ETFs but lagged behind Bitcoin/ETH spot ETFs.  

- **Custodian**: **Anchorage Digital** will handle staking for the ETF.  

#### **4. Bitcoin Eyes $110K as Bullish Signals Mount**  

- **10x Research Report**:  

 - Bitcoin has seen **98 straight days of outflows** but remains resilient.  

 - **ETF inflows, shrinking exchange reserves, and Fed pressure** support a breakout.  

 - **July historically bullish**—potential rally ahead.  

#### **5. DOJ Busts $14.6B Healthcare Fraud, Seizes $245M in Crypto & Cash**  

- **Largest-ever case**: 324 charged, including doctors and nurses.  

- **"Operation Gold"**: $10.6B linked to Russian/Eastern European organized crime.  

#### **6. Ripple Applies for U.S. Bank Charter (Following Circle)**  

- **Goal**: Offer **regulated crypto services**, including its stablecoin **RLUSD**.  

- **Fed Account Sought**: Subsidiary **Standard Custody** applied to hold reserves directly with the Fed.  

#### **7. Trump’s Crypto Holdings Add $620M to His Wealth**  

- **Bloomberg Analysis**: His portfolio now includes **crypto investments**, reducing reliance on real estate.  

#### **8. Fake Wallet Extensions on Firefox Steal Crypto**  

- **40+ malicious plugins** (fake MetaMask, Coinbase Wallet) found.  

- **Tactic**: Steals seed phrases via hidden keyloggers.  

- **Hacker Link**: Likely a Russian-speaking group.  

#### **9. U.S. Treasury Secretary Hints at Earlier Fed Rate Cuts**  

- **Janet Yellen’s Successor**: Suggests **September (or sooner) rate cuts** due to mild tariff-driven inflation.  

#### **10. BounceBit to Launch Tokenized Stocks in Q4**  

- **Coverage**: U.S., Europe, Hong Kong, and Japanese equities.  

- **DeFi Integration**: Will allow trading, lending, and staking of tokenized stocks.  

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### **Market Movers & Corporate Crypto Adoption**  

- **Mogo (NASDAQ: MOGO)**: Approved **$50M Bitcoin allocation**.  

- **Addentax (NASDAQ: ADTX)**: Plans to buy **12,000 BTC ($1.3B)** via stock issuance.  

- **Belgium’s KBC Bank**: To offer **BTC/ETH trading** for retail clients.  

- **Coinbase Acquires Liquifi**: Expands token management services.  

### **Regulatory & Macro Trends**  

- **Hungary Central Bank**: **Rejects crypto in reserves**.  

- **Italy’s Banca Sella**: Testing **stablecoin custody**.  

- **SEC Approvals**: More **crypto ETFs** (staking Solana/ETH) expected.  

### **Scams & Security Alerts**  

- **ZachXBT Warns**: **North Korean IT workers** infiltrated **345-920 crypto jobs** in 2025, stealing **$16.5M+**.  

### **Upcoming Catalysts**  

- **U.S. June Nonfarm Payrolls (July 3)**: Early release due to Independence Day.  

- **Fed Rate Cut Bets**: Traders now pricing **two cuts by 2025**.  

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**Disclaimer**: This summary is for informational purposes only and not investment advice. Verify details before making financial decisions.