Bitpush Editor's Daily Selected Web3 News:
【Trump Announces Trade Agreement with Japan: 15% Tariff + $550 Billion Investment in the US】
US President Trump stated that they just reached a massive agreement, possibly the largest ever. According to his instructions, Japan will invest $550 billion in the US, with the US receiving 90% of the profits. This agreement will create thousands of jobs - unprecedented. Most importantly, Japan will open its national trade, including cars and trucks, rice and certain other agricultural products, and other things. Japan will pay a 15% reciprocal tariff to the US. For the US, this is an exciting moment, especially as we continue to maintain good relations with Japan.
【SpaceX: Musk May Return to US Political Arena】
A new warning was added to the tender offer documents of Elon Musk's Space Exploration Technologies Company (SpaceX): the billionaire may not have completely withdrawn from politics.
According to documents reviewed by Bloomberg and informed sources, a risk disclosure clause was added to SpaceX's transaction documents submitted to investors. Informed sources say this is the first time such language has appeared in such equity offer documents.
SpaceX is currently valued at around $400 billion and is poised to become the world's most valuable unlisted company. Musk and SpaceX representatives did not respond to comment requests.
【Sources: Prediction Market Platform Polymarket Considers Issuing Own Stablecoin】
According to Coindesk citing informed sources, crypto prediction market platform Polymarket is evaluating the possibility of issuing its own stablecoin. The platform is currently valued at over $1 billion.
Sources say Polymarket is considering issuing a stablecoin to capture the interest generated from USDC reserves on its platform. Currently, platform users need to use Circle's USDC for betting, with interest from related fund reserves belonging to Circle.
Informed sources say that since Polymarket is a closed ecosystem, the technical threshold for issuing a stablecoin is relatively low, only requiring the exchange function between USDC and its own stablecoin, without handling complex fiat currency deposit and withdrawal processes.
A Polymarket spokesperson responded that the stablecoin decision has not been finalized. Data shows the platform processed about $8 billion in bets during the US election last year, with 15.9 million visits in May this year.
Notably, the stablecoin regulation bill passed in the US last week makes stablecoin issuance more attractive to crypto companies. Meanwhile, Circle is reaching revenue-sharing agreements with multiple exchanges and fintech companies to maintain USDC's market competitiveness.
【SEC Approves and Then Temporarily Suspends Bitwise Crypto Index Fund Conversion Request】
According to The Block, the SEC's Trading and Markets Division approved Bitwise's 10 Cryptocurrency Index ETF "accelerated conversion" application. However, SEC Assistant Secretary Sherry R. Haywood subsequently issued a notice stating that the committee would review the decision and suspend the previously approved order.
According to SEC documents, the Bitwise 10 Cryptocurrency Index Fund (ticker: BITW) currently includes cryptocurrencies like Bitcoin, Ethereum, Ripple, Solana, and DOT, using market cap-weighted allocation. This suspension is similar to the approach the SEC took earlier this month with the Grayscale Digital Large Cap Fund.
Market analysts on social media offered different interpretations. Van Buren Capital partner Scott Johnsson believes the SEC may have made this decision under opposition from Democratic commissioner Caroline Crenshaw. Bloomberg ETF analyst James Seyffart suggests the SEC might be establishing unified listing standards for crypto ETFs to streamline the approval process.
【LetsBonk's Market Share Grows to 64% on Solana Meme Token Launch Platform】
The Solana-based Meme token launch platform LetsBonk's market share has grown from 5% a month ago to 64% currently, while competitor Pump.fun's market share has dropped from 90% to 24% during the same period.
【Dan Tapiero's Fund Renamed 50T and Launches $500 Million New Fund, Predicting Crypto Ecosystem to Reach $50 Trillion】
Veteran macro investor Dan Tapiero's two crypto growth equity funds - 10T Holdings (10T) and 1RoundTable Partners (1RT) - announced a merger and rebranding as 50T. Simultaneously, the new brand launched a $500 million new fund, 50T Fund V, focusing on growth equity investments in blockchain, cryptocurrency, and Web3 infrastructure.
Tapiero adjusted his long-term prediction for the digital asset ecosystem, believing the value could reach $50 trillion in the next decade, far higher than his 2020 expectation of $10 trillion. He explained that this valuation covers not just cryptocurrencies like Bitcoin and Ethereum, but the market cap of all listed and private companies in the industry. Currently, the crypto ecosystem's total valuation has exceeded $5 trillion.
50T Fund V is a 10-year closed-end fund, with the first round of fundraising planned to be completed in the fourth quarter of this year. The background of this brand integration and new fund launch is that Tapiero's investment portfolio recently achieved multiple important exit cases, including Deribit's acquisition by Coinbase for $2.9 billion, and Circle and eToro's public listings. Additionally, its associated SPAC company 1RT Acquisition Corp. raised $172.5 million over target on Nasdaq earlier this year.
The merged 50T currently manages assets of $2 billion and deeply participates in portfolio company governance through board seats. The fund adopts a "selected track + active risk control" strategy, focusing on digital ecosystem infrastructure.
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