Mara Holdings has announced plans to offer up to $1 billion in zero-interest convertible notes, with proceeds earmarked for repurchasing debt, buying Bitcoin and corporate expenses.

Mara to raise up to $1B for Bitcoin and operations via debt sale

A pro-crypto US government, near-insatiable institutional investor demand, and 
the chance for ETH staking ETFs made ETH a top performer last week.

Ether emerges as winner after crypto’s ‘watershed moment’: Bitwise

After a $10 million loss became public on X, crypto hedge fund Asymmetric is 
pivoting away from liquid trading strategies.

Asymmetric shifts funds strategy after investor posts losses on X

Artificial intelligence appears to have a soft spot for bitcoin. Not long ago, 
the founder of fomo21.com posed a clever question to X’s AI chatbot Grok: 
“What is the most likely money to be used in 200 years?”—with one strict rule: 
the AI had to pick just one. Intrigued, we ran with the idea and […]

11 AI Models Predict the Future of Money in 200 Years—And Bitcoin Dominates the List

Bitcoin hovers just below its mid‑May record at roughly $119,000, while the 
global crypto‑asset capitalisation approaches $4 trillion, but traders say the 
real test will come in the last week of July, when an unusually dense cluster 
of US macro‑policy events collides with an intensifying legal battle over 
President Trump’s tariffs. &#8220;The last few days of July will set the stage for 
markets for the rest of the year imo. FOMC meeting where dovish dissents are 
looking very likely. QRA meeting where we will get a look into how willing 
Bessent is going to be to try to weaponize treasury issuance for the first 
time since being chair. Tariff letter deadlines. The Supreme Court will begin 
deliberating on whether tariffs via executive order are legal or not. No big 
edge on either side right now personally, will just react once we get clarity. 
Stay frosty,” Forward Guidance host Felix Jauvin wrote via X. July’s Final 
Days Could Shape Crypto The two‑day Federal Open Market Committee meeting on 
29–30 July is the first shot. Governor Christopher Waller, speaking last week, 
laid out the case for an immediate 25‑basis‑point rate cut, arguing that 
tariff‑linked inflation looks “temporary” and that the labour market is “under 
strain.” Related Reading: House Passes Major Bills During ‘Crypto Week,’ But 
Significant Changes May Take Time Prediction‑market platform Kalshi assigns a 
40 % probability to two cuts and a 13 % probability to three cuts by December; 
Goldman Sachs now places the first move in September, but traders emphasise 
that even a single dovish dissent next week would cement that timetable. As 
The Kobeissi Letter summed up in a widely shared post: “Rate cuts are coming … 
Next week’s Fed meeting will pave the path for a September rate cut.” Treasury 
Secretary Scott Bessent has broken with predecessors’ reticence by all but 
instructing the central bank to move sooner. “If [tariff] inflation isn’t 
sticky, they could do it sooner than September,” he told Fox News on 1 July, 
after stating two months earlier that “the bond market is sending a signal 
that the Fed should be cutting.” Only hours after the Fed decision, Bessent 
will unveil the Treasury’s third‑quarter borrowing plans at the Quarterly 
Refunding Announcement. The agenda published on 11 July flags a noon release 
on 30 July. Desks are watching not just the size but the maturity mix: 
Bessent’s advisers have floated heavier use of short‑dated bills to “manage 
the yield curve,” a move that would soak up the very cash that cycles into 
stablecoins and crypto risk. Tariffs Come Back Into Focus Trade policy is the 
second pressure point. A 7 July executive order extended reciprocal tariffs 
and launched a volley of tariff‑rate letters to trading partners; the new 
levies take effect on 1 August unless renegotiated. Bessent flies to Stockholm 
next week in a last‑minute bid to defer a mooted 100 % surcharge on Chinese 
imports, underscoring how fluid the landscape remains. Related Reading: 2025 
Crypto Thefts Spike: Stolen Funds Hit $2.7 Billion In H1– Report Even if 
diplomats buy time, lawyers may not. The Court of Appeals for the Federal 
Circuit has set 31 July for expedited oral argument on V.O.S. Selections v. 
Trump, a case that could decide whether a president can impose tariffs under 
the International Emergency Economic Powers Act. Petitioners have already 
asked the Supreme Court for review before judgment, calling the tariffs a 
“$600 bn annual tax.” A ruling to curtail executive trade powers would remove 
what many bitcoin bulls see as a long‑term inflation tail‑risk; the opposite 
outcome could entrench the policy. Real yields—now the dominant macro driver 
of Bitcoin—move inversely to rate‑cut expectations and Treasury supply. The 
benchmark 10‑year has fallen about 30 bp in three sessions to 4.34 %, 
mirroring BTC’s 8 % bounce over the same period. For now, the market’s 
playbook is simple: Watch the Fed dots, count the bills in the QRA, read the 
tariff letters—and, as Jauvin advised, “stay frosty.” At press time, total 
crypto market cap stood at $3.81 trillion. Featured image from Shutterstock, 
chart from TradingView.com

Crypto Market’s Fate Hangs On The Last Days Of July

SOL is down nearly 10% on the day, but charts suggest the bull trend remains 
intact.