Important information last night this morning (July 3-July 4)

### **Key News Summary**  

#### **1. U.S. June Nonfarm Payrolls Surge to 147K, Beating Expectations**  
- **Reported**: 147K jobs added (vs. 110K expected).  
- **Previous Revision**: May data revised up from 139K to 144K.  
- **Market Impact**: Strong labor data may ease pressure on the Fed to cut rates, though Chair Powell has kept a July cut "on the table."  

#### **2. Binance Launches Institutional Lending**  
- **New Feature**: Offers **4x leverage** for VIP 5+ enterprise users (KYB verified).  
- **Key Benefit**: Cross-subaccount collateral aggregation improves capital efficiency.  
- **Usage**: Credit can be deployed in margin, unified accounts, and derivatives trading.  

#### **3. The Open Platform (Telegram’s TON Developer) Raises $28.5M at $1B Valuation**  
- **Lead Investor**: Ribbit Capital (with Pantera Capital).  
- **Total Funding**: Over $70M to date.  
- **Focus**: Expanding compliant wallet services in EU/U.S. and building TON-based blockchain games & AI apps.  

#### **4. WhiteRock Founder Arrested Over $30M Zkasino Exit Scam**  
- **Details**: Ildar Ilham detained in UAE, facing extradition to the Netherlands.  
- **Background**: ZachXBT previously flagged risks in WhiteRock Finance ($WHITE).  

#### **5. Stablecoins Dominate 74.6% of Institutional OTC Trading (USDC Up 29x YoY)**  
- **Data**: Finery Markets’ H1 2025 report shows stablecoin volumes surged **154%**, while crypto/fiat pairs grew just 48.5%.  
- **Drivers**: MiCA regulation boosted USDC adoption; altcoins like SOL, ADA captured 16.7% share.  

#### **6. U.S. Senator Lummis Proposes Crypto Tax Reform Bill**  
- **Key Provisions**:  
  - **Tax-Free Small Transactions**: Under $300 (annual cap: $5K, inflation-adjusted from 2026).  
  - **Deferred Mining/Staking Taxes**: Liable only upon asset disposal.  
  - **Market-Based Accounting for Traders**.  
- **Revenue Estimate**: $600M over 10 years.  

#### **7. "Big & Beautiful" Bill Passes House, Heads to Trump’s Desk**  
- **Vote**: 218-214 (2 GOP defections).  
- **Controversy**: Critics slam corporate tax cuts and $3.4T deficit impact.  
- **Next Step**: Trump to sign on July 4 (U.S. Independence Day).  

#### **8. Coinbase System Upgrade Rescheduled to Aug 2 (22:00 UTC+8)**  
- **Duration**: 3 hours.  
- **Services Affected**: Trading, transfers, Coinbase Card.  

#### **9. Ondo & Pantera Launch $250M RWA Tokenization Fund**  
- **Focus**: Equity/token investments in real-world asset projects.  
- **Context**: Ondo’s tokenized U.S. treasury products (OUSG, USDY) near $1.4B market cap.  

#### **10. Amber International Raises $25.5M for Crypto Reserve Plan**  
- **Backers**: Pantera, CMAG, Kingkey.  
- **Strategy**: Allocating funds to BTC, ETH, SOL, BNB, XRP, and SUI.  

#### **11. DeFi Dev Corp. Buys 17,760 SOL ($2.72M), Expands Staking**  
- **Total Holdings**: 640,585 SOL (~$98.1M).  
- **Public Market Play**: First Nasdaq-listed firm to center strategy on Solana.  

#### **12. Whale/Institution Offloads WBTC After 49.7M Profit**  
- **Original Position**: 1,495 WBTC bought at $69,162 via leveraged loans.  
- **Current Action**: Sold 723 WBTC at $95,678 (realized profit: $19.17M), holds 753.8 WBTC ($82.6M unrealized).  

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### **Disclaimer**  
Views expressed are solely the author’s and not investment advice. Accuracy and completeness are not guaranteed. No liability for losses incurred.