Trump-Linked World Liberty Gets Conditional Bank Charter for USD1 Stablecoin
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World Bank: China's economic growth remains resilient
According to Mars Finance, the World Bank released its latest China Economic Brief in Beijing on July 7. The report states that despite facing strong supply and weak demand, as well as global energy supply shocks, China's economic growth has remained generally resilient. The report shows that in the first five months of this year, driven by strong domestic and international demand related to artificial intelligence, investment in China's high-tech industries increased by 4.5% year-on-year. From the export side, strong external demand for China's technology-intensive products supported robust export performance. At the same time, China's technology-related imports expanded significantly, reflecting accelerated capital expenditure related to artificial intelligence and increased demand for components needed for technology-intensive export production. The report believes that despite facing global energy supply shocks, China has effectively mitigated the impact on the economy by relying on diversified energy import sources, a high proportion of renewable energy, and temporary retail controls on refined oil products. The report states that in the medium term, coordinated structural reforms, such as local government debt reduction and the removal of hidden barriers to the private sector, will help address insufficient domestic demand and accelerate the economic rebalancing process. Reducing employment and skills mismatches will help workers better access job opportunities and further support China's economic transformation. (Cailian Press)
Opinion: Warsh should publicly resist Trump's pressure on the Federal Reserve and uphold the central bank's independence.
According to Mars Finance, on July 6th, Bloomberg columnist Jonathan Levin published an article stating that US President Trump and his allies are continuously pushing to influence Federal Reserve decisions through personnel changes, including attempting to replace Fed Governor Lisa Cook and interfering in the selection of the Federal Reserve Bank of Atlanta president, in order to expand the influence of White House supporters on the Federal Open Market Committee (FOMC). Levin believes that Kevin Warsh, considered a leading candidate for the next Fed chair, should publicly oppose White House interference, support Jerome Powell and Cook to complete their terms, and demand that the White House withdraw from the selection process for regional Fed presidents; otherwise, his future credibility in leading the Fed and his influence within the committee will be weakened. The Fed's independence is key to maintaining stable inflation expectations and the credibility of monetary policy; continued political interference could damage the stability of the US macroeconomy.
Standard Chartered Bank claims to be the first global systemically important bank to offer USDC minting and redemption services.
Odaily Odaily reports that Standard Chartered Bank, in partnership with Circle, has launched a USDC minting and redemption service for institutional clients. Standard Chartered claims to be the first systemically important bank globally to offer this service, and clients can conduct related transactions without needing a separate Circle account.
Standard Chartered Bank and Circle launch institutional-grade USDC minting and redemption services.
According to ChainCatcher, Standard Chartered Bank has announced a partnership with Circle to launch USDC minting and redemption access for institutional clients, becoming the first global systemically important bank to offer such integrated services. Eligible institutional clients can use USDC through a single account opening and service process without needing to open a direct Circle account. Initially offered through Standard Chartered's operations in the Dubai International Financial Centre, the service supports on-chain settlement, fund management, and liquidity management, with plans to expand to more markets upon regulatory approval.
Trump responds to disclosure of massive income figures: Funds managed by external institutions, he does not participate in investment decisions.
According to a CNBC report on July 2nd, as reported by Mars Finance, US President Trump responded to his 2025 financial disclosures by stating that his personal assets are managed by large external institutions, and he does not communicate with fund managers or participate in any investment decisions. He stated that his personal wealth growth primarily benefited from the stock market boom. Previously disclosed documents showed that Trump's declared income for 2025 is at least $2.24 billion, a significant increase from 2024, with approximately $1.2 billion coming from cryptocurrency-related businesses, including revenue from World Liberty Financial and TRUMP Meme (CIC Digital). In response, Trump stated that his funds are managed by professional institutions, he is unaware of specific investment targets, and he does not interfere with investment decisions.
Data shows that nearly 1 million wallets holding Trump Meme are operating at a loss, with accumulated losses of approximately $3.81 billion.
According to BlockBeats, on July 5th, based on on-chain data, since the launch of Trump's official Meme coin, TRUMP, in January 2025, of the approximately 1.48 million wallets that purchased the token, 988,900 (about two-thirds) were in a loss-making state as of the end of June, with accumulated realized and unrealized losses of approximately $3.81 billion. Data shows that only 492,300 wallets achieved profits, accumulating profits of approximately $4.04 billion. The profits were mainly concentrated in the early participants who bought in at a price below $1 during the initial offering. Considering all holding wallets, the overall net profit was approximately $236 million. The report states that Trump's recently released annual financial report shows that he earned approximately $636 million through the TRUMP Meme coin, and his total crypto-related revenue in 2025 exceeded $1.4 billion. Furthermore, Nansen's analysis of World Liberty Financial's governance token WLFI, a DeFi project owned by the Trump family, shows that of the 26,663 wallets that purchased WLFI on the secondary market, approximately 85% have recorded losses, with a cumulative loss of about $83 million, while the cumulative profit is about $23 million.