Crypto PAC notches primary wins, but loses $2M Florida race
Related
Ripple- and Coinbase-funded PAC spends $2M in Florida race with little mention of crypto
A Florida representative not running for reelection who voted against the GENIUS and CLARITY Acts has endorsed a Democratic candidate, possibly leading to PAC-funded negative ads.
Frank J. Russo, the independent gubernatorial candidate for Florida, accepted cryptocurrency donations.
According to Foresight News , citing The Street, Florida independent gubernatorial candidate Frank J. Russo has announced that he will accept cryptocurrency campaign donations, becoming the first candidate in the state's 2026 gubernatorial election to accept such donations. All cryptocurrency donations will comply with current federal and state campaign finance laws. Russo previously proposed at the Consensus conference a plan to make Florida a leader in blockchain and digital asset investment, attracting blockchain companies, fintech startups and Web3 entrepreneurs to the state and directing state-level investment toward emerging technology sectors.
Crypto Market Preview This Week: Fed Meeting Minutes to be Released, SpaceX to be Included in Nasdaq 100 Index
According to BlockBeats, on July 6th, the crypto market will focus on the Federal Reserve meeting minutes, US economic data, and several crypto industry events this week. The macro environment and on-chain dynamics may jointly influence the price movements of digital assets. On the macro front, the Federal Reserve will release the minutes of its June FOMC meeting in the early hours of July 9th (Beijing time), with the market hoping to use this information to determine the future path of interest rates. In addition, the US ISM Services PMI, consumer inflation expectations, initial jobless claims, and China's June CPI data will also be released successively. On the industry front, SpaceX will be officially included in the Nasdaq 100 index on July 7th, becoming the fourth index component stock to hold Bitcoin, following Tesla, Strategy, and Mercado Libre. Data shows that SpaceX currently holds approximately 18,712 BTC, and its inclusion in the index is expected to benefit from the passive allocation demand of index funds. In addition, American Bitcoin (ABTC), a US mining company, will resume trading after completing a 1:15 reverse stock split to avoid delisting from Nasdaq; Berachain will complete its PoL Next upgrade on July 7. Regarding on-chain governance, ENS DAO, Frax DAO, Nexus Mutual DAO, and Arbitrum DAO will all conclude voting on multiple governance proposals this week. Regarding token unlocking, Hyperliquid (HYPE) will unlock 0.2% of its circulating supply on July 6, worth approximately $30.39 million; RAIN will unlock approximately 7.64% of its circulating supply on July 11, worth approximately $787 million; and PUMP will unlock approximately 29.12% of its circulating supply on July 12, worth approximately $130 million. Besides macroeconomic data, developments in the Russia-Ukraine situation and the continued weakening of the yen are also worth noting. Recently, Bitcoin has shown a strong negative correlation with the USD/JPY exchange rate, with the depreciation of the yen often accompanied by a rise in Bitcoin prices.
A well-known trader stated that Strategy's OTC selling of cryptocurrencies has limited impact on spot prices, and Bitcoin could potentially reach as high as $65,600.
According to Mars Finance, on July 7th, renowned trader Killa (@KillaXBT) stated that if Bitcoin holds above last week's closing price (approximately $59,000), it could potentially reach $65,600. Furthermore, regarding the "historic sell-off of 3,588 BTC by Strategy," Killa clarified that Strategy did not sell through the open market but rather through institutional trading to avoid significantly impacting Bitcoin's price. This partly explains Bitcoin's initial drop followed by a rise last night. Killa, a quantitative trader specializing in BTC, predicted the peak of this bull market in May 2025 and has over 200,000 followers on the X platform. In mid-April, he short Bitcoin at $74,688 and then went long during the market downturn on June 5th.
Here’s what happened in crypto today
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.
Binance to restrict transactions involving HTX, 10 other crypto platforms
Binance said it will stop processing transactions for involving 11 crypto platforms, including HTX, which was recently listed in the EU’s sanctions package targeting Russia.