Here’s what happened in crypto today
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US Treasury Secretary: There are no issues with the President's nearly $1.4 billion in crypto income.
According to Odaily Odaily, U.S. Treasury Secretary Scott Bessent stated in an interview with CBS News that the recently disclosed $1.4 billion in income earned by President Trump through crypto projects is not a problem for the president. Financial disclosures show that since the start of his second term, Trump has earned approximately $1.4 billion from crypto partnerships including Trump memecoin and World Liberty Financial. Congressional Democrats criticized the disclosure, arguing it created a conflict of interest as the current administration attempts to ease cryptocurrency regulations. White House spokeswoman Anna Kelly stated that there was no conflict of interest. Furthermore, Bessent expressed optimism about the U.S. economic outlook and noted that over 6 million Trump Accounts have been opened, a program designed to help minors improve their financial literacy by investing in the stock market. (cbsnews)
Trump insists there is "no problem" with his enormous cryptocurrency gains.
PANews reported on July 3 that, according to Bloomberg, US President Trump responded to financial disclosures in a CNBC interview on Thursday regarding his family's crypto business profits of at least $1.4 billion, stating, "There's nothing illegal about it, there's no problem with it," and indicating he was unaware of the specifics of his crypto business. Trump said, "I could have known, but I don't know," while also stating that his investments are managed by large institutions, and he doesn't even know who the managers are. In the interview, Trump stated his goal is to ensure the US remains a leader in the crypto space, saying, "Anything we do, I want to be number one, and we're number one in crypto." Critics point out that Trump has not divested assets during his term and may have used his presidency for personal gain. Disclosure documents show that Nvidia, Microsoft, Netflix, and ExxonMobil are among the most frequently traded stocks in his portfolio.
Data: CME Group's average daily trading volume for cryptocurrency contracts in June increased by 76% year-on-year, with a notional value exceeding $10 billion.
According to Mars Finance, data released by the Chicago Mercantile Exchange Group (CME Group) shows that its average daily trading volume (ADV) in June reached a new record of 30.6 million contracts, a year-on-year increase of 19%; second-quarter trading volume reached 29.8 million contracts, the second highest on record. In the cryptocurrency sector, CME Group's average daily trading volume for cryptocurrency futures contracts in June increased by 76% year-on-year to 334,000 contracts, with a notional value of approximately $10.7 billion. Among these, the average daily trading volume for micro Bitcoin futures contracts increased by 46% to 77,000 contracts. In the second quarter, the average daily trading volume for cryptocurrency futures contracts reached 250,000 contracts, a year-on-year increase of 32%, with a notional value of approximately $13.7 billion. Among these, the average daily trading volume for Ethereum futures contracts increased by 10% to 18,000 contracts.
Trump responds to claims of receiving huge cryptocurrency gains: He was unaware of it.
According to Odaily Odaily, in an interview with CNBC on Thursday, US President Trump dodged questions about his earnings during his presidency, stating that his sons handle his business affairs and that he was unaware of the cryptocurrency investments that netted him over $1 billion. "I've always been making money," he said. "I'm a businessman, and a very good businessman. I've made money, a considerable amount." He pointed out that others were responsible for investing his wealth, and he didn't know who those people were. "I let others manage this money. I haven't even spoken to them—I don't even know who they are," he said. "My son Eric is in charge of this. I haven't discussed these things with him." Trump's latest financial disclosure report shows that he earned approximately $1.2 billion last year from various cryptocurrency holdings. He stated that he was unaware of these investments. "I didn't know. But it's not illegal. I could have known," he said, noting that there is no law requiring "avoidance of every decision that might affect you when governing the country. That's simply unrealistic." (Jinshi)
AngelList will cease supporting cryptocurrency investments at the end of July due to the shutdown of its third-party payment service.
According to Foresight News , AngelList, a venture capital firm, announced on its official help page that it will no longer support investment and financing using cryptocurrencies starting July 31, 2026. The announcement stated that its third-party cryptocurrency payment service provider will soon cease operations, therefore the option to use digital assets such as USDC, USDT, DAI, and ETH to complete new investments, fundraising, or rolling fund subscriptions will be suspended across the platform until further notice. Other financing methods, such as ACH transfers and wire transfers, will not be affected. The announcement states that investments completed on or before July 31, 2026, will not be affected by this change and require no action from users; thereafter, users will need to use ACH or wire transfer to complete fund payments. For outstanding capital commitments originally planned to be made in cryptocurrency, AngelList advises investors to transfer all corresponding cryptocurrency assets to their AngelList accounts for safekeeping before July 30, or to complete subsequent investments via wire transfer or ACH. AngelList stated that it is evaluating the possibility of restoring digital asset financing functionality through a new service provider, but there is no definite timetable yet.
Machi Big Brother posted a picture showing he holds 11,100 ETH in long positions on Ethereum: ready to make it all back in one go.
According to Odaily Odaily, Huang Licheng, known as "Machi Big Brother," posted a screenshot on the X platform showing a 25x leveraged long position in Ethereum, indicating a position of 11,100 ETH with an entry price of $1,735 and a liquidation price of $1,751. The post was captioned, "Going to make it all back in one trade." However, according to the latest data from Hyperbot, Machi Big Brother closed his long position and reduced his holdings one hour ago. His current position is 10,100 ETH, with a value of approximately $17.8871 million.