The inflation rate has slowed dramatically from the high of 9.1% in 2022. Still, in recent months, the Fed has reiterated the need to see further progress on the inflation front before pulling the plug on elevated interest rates. On Tuesday, Fed chief Jerome Powell said the same in his testimony to Congress, while stressing the bank won't wait for inflation to cool to 2% to cut rates.

Bitcoin Waits for Guidance From U.S. Inflation Data, Bond Market

The Russian government is attempting to seize a gold mining firm owned by a billionaire accused of breaking a rule that bans public officials from engaging in entrepreneurial activity.

The Russian Prosecutor General’s Office has filed a lawsuit to seize shares of billionaire Konstantin Strukov’s gold mining company, Yuzhuralzoloto, state-owned media Tass reports.

Strukov, who has been a deputy of the Legislative Assembly of the Chelyabinsk Region for 25 years, while also the deputy chairman of the Legislative Assembly, acquired the firm through a bankruptcy procedure. He was also the company’s CEO between 1997 and June 2001 before he became chairman of the board of directors.

The government’s lawsuit alleges that Strukov violated a ban on all public officials from engaging in business activity.

The rule also requires politicians to sell all their securities, shares, or stakes in companies before taking office.

According to Tass, Yuzhuralzoloto produces over 450,000 ounces of gold per year, which is $1.505 billion annually with a profit of 34 billion rubles – $432.43 million.

Prosecutors allege that Strukov frequently takes profits from the mine and transfers them abroad to Montenegro, Belgium, Switzerland, Luxembourg, Latvia, Estonia and Turkey where he and his family purchased houses, yachts and other luxury items.

The Russian government is requesting that 100% of Strukov and his daughter’s ownership of the company be transferred to the state.

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Company Owned by Billionaire Gold Miner May Be Seized by Russian Government for Allegedly Breaching Regulations: Report

A bank insider and his co-conspirator admitted to running a nine-year fraud scheme that falsified loan applications to obtain funds.

In a press release, the U.S. Attorney’s Office for the Southern District of Illinois says that former Tempo Bank senior loan officer Francis Eversman and construction company owner Gregg Crawford pleaded guilty to conspiracy to commit bank fraud in a scheme that spanned between 2011 and 2020.

Prosecutors say that Crawford recruited straw purchasers to serve as loan applicants in name only for properties that were often extremely overvalued. His brother-in-law, Eversman, would facilitate the approval process of the loans.

Crawford used the proceeds of the loans for purposes other than the purchase of the properties. He also provided fake lease agreements in an effort to show rental income from the properties in question.

When the Office of the Comptroller of the Currency became suspicious of the loans during an audit, Crawford told a straw purchaser to provide the regulator with fraudulent information.

FBI Springfield Assistant Special Agent in Charge Karen Marinos says the duo violated the people’s trust by carrying out self-serving schemes to increase their wealth.

“Every American citizen deserves to walk into their bank and trust the people behind the counter. In southern Illinois, these people are usually our neighbors and friends, people that we trust with our money and wellbeing. “

Eversman and Crawford will be sentenced on October 14th. They face up to 30 years in prison, five years of supervised release and fines of up to $1 million.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bank Insider Admits to Nearly Decade-Long Scheme of Falsifying Loan Applications To Steal Funds: DOJ

A crypto strategist with a history of timely Bitcoin (BTC) calls believes that the digital asset market will flourish this month.

Pseudonymous analyst Pentoshi tells his 868,800 followers on the social media platform X that he sees the crypto markets rallying this month amid a slew of bullish catalysts.

“It’s the start of a new quarter and a new month.

It’s also Jubilant July.

I gotta say. I feel extremely refreshed for the first time in a long time with all the positives happening. Stablecoin legislation is moving forward. More rails are being connected with traditional finance, banks and consumers. Crypto will continue to grow as a focus in global markets.

Let’s also not forget the fiscal and monetary tailwinds that are coming.”

As for the fiscal tailwinds, the analyst says that the US is positioning to ease monetary policies to stimulate economic growth, while Bitcoin and US equities are in a strong uptrend.

“If you’re bearish, consider this.

The market has, for now, failed to prove a bullish bias to be incorrect.

When there is FUD (fear, uncertainty and doubt), it V reverses into new highs each time. No matter how extreme the FUD.

Market structure is intact on high time frames. BTC and stocks are at or around all-time highs.

The largest economy in the world is openly discussing outgrowing its debt by spending more.

The largest economy in the world is openly discussing lowering interest rates, which in this instance would likely stoke both inflation/growth.

If the market proves these ideas to be incorrect, then you can pivot. I see no reason to be bearish on markets with this in mind.”

Turning to altcoins, Pentoshi says he’s keeping a close eye on the OTHERS chart, which tracks the total market capitalization of crypto, excluding the 10 largest digital assets and stablecoins.

The analyst predicts that OTHERS will soar close to $400 billion, indicating massive upside potential for altcoins.

“I do think many alts will likely cook for the next few weeks.

Just feels like… sellers have run out of momentum. Many of them look better than they have in quite some time.

I think you could essentially use last week’s lows as a point we shouldn’t lose on most of these…

I think we see others play out something like drawn below.”

At time of writing, OTHERS is trading at $229 billion.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Analyst Unveils Crypto Catalysts for ‘Jubilant July,’ Says Altcoins Will Likely ‘Cook’ for Next Few Weeks

Key Takeaways:

Ondo Finance is acquiring Oasis Pro, an SEC-registered broker-dealer, ATS, and transfer agent.

The acquisition sets the stage for a fully compliant tokenized securities ecosystem targeting U.S. investors.

With $1.4B in tokenized assets under management, Ondo is doubling down on regulated real-world asset tokenization.

Ondo Finance has announced its acquisition of Oasis Pro, a landmark move poised to reshape how U.S.-based investors access blockchain-based financial products. The deal, pending regulatory approval, equips Ondo with a comprehensive regulatory foundation to offer tokenized securities in one of the world’s most strictly regulated markets.

Read More: Ondo Finance Launches Ondo Chain: Institutional-Grade Blockchain Set to Reshape RWA Tokenization

Ondo Secures Licenses to Operate in Regulated Securities Space

In acquiring Oasis Pro, Ondo Finance gains immediate access to three essential U.S. financial licenses:

Broker-dealer (SEC-registered)

Alternative Trading System (ATS)

Transfer Agent (TA)

This trio of licenses enables Ondo to create, issue, and settle digital securities—traditionally off-limits to most blockchain firms—within the United States regulatory perimeter. The deal strengthens Ondo’s position as a major tokenization platform and gives the firm a rare end-to-end compliance stack for securities-based blockchain products.

Oasis Pro was among the first U.S.-regulated ATS platforms allowed to settle digital securities in fiat and stablecoins such as USDC and DAI. This compliance-first foundation is what made it an attractive acquisition target for Ondo, a company already managing over $1.4 billion in tokenized assets globally.

Building a Regulated Tokenized Securities Ecosystem

The acquisition represents a clear signal that Ondo is accelerating efforts to bring traditional financial products—stocks, bonds, and funds—onchain, but with full legal backing.

The broader strategy involves building an ecosystem that provides:

Tokenized stocks for non-U.S. investors (via Global Markets platform)

Compliant U.S.-based offerings for institutional and accredited investors

End-to-end settlement through fiat and stablecoins

Nathan Allman, CEO of Ondo Finance, stated that the acquisition is the “next major chapter of tokenized finance,” emphasizing that compliance is critical to achieving mainstream adoption. “This acquisition will empower us to realize our vision of building a robust and accessible tokenized financial system, backed by the strongest regulatory foundations,” he said.

Pat LaVecchia Joins Ondo, Bringing Deep Regulatory Expertise

As part of the acquisition, Oasis Pro CEO Pat LaVecchia will join Ondo’s leadership team. A veteran of both Wall Street and blockchain innovation, LaVecchia helped build Oasis Pro into a trailblazer in compliant digital securities trading.

“Oasis Pro’s licenses, combined with Ondo’s institutional-grade infrastructure, form a comprehensive foundation for a regulated tokenized securities ecosystem,” LaVecchia commented.

The combination of Ondo’s product stack and Oasis Pro’s licensing structure is anticipated to advance the development and introduction of regulated digital asset products that comply with U.S. and international practices.

Why This Move Matters for the Tokenization Industry

More and more real world assets (RWA) are being tokenized. BCG, McKinsey, and Standard Chartered analysts all estimate the market for tokenized assets to be over $18 trillion by 2033.

Tokenized stocks especially are starting to become a major use case. These are digital tokens of analogue equities, recorded on blockchain networks and pegged to traditional shares in the company. By allowing fractional ownership, 24/7 trading, and programmable transactions, tokenized securities can break traditional barriers to investing.

Other firms like Robinhood, Kraken, Gemini, and Archax have also made recent moves into tokenized finance. However, unlike many of its peers, Ondo’s acquisition grants it not just technical capability but also full regulatory authorization—a rarity in the crypto space.

Ondo’s Regulatory Positioning vs. Competitors

As other DeFi protocols teeter in gray areas, Ondo’s purchase is a move to actively engage with regulation. The agreement allows it to offer securities infrastructure with protections such as:

FINRA oversight

SEC compliance

SIPC-backed protections (through Oasis Pro Markets)

However, it’s important to note that Ondo itself is not a registered broker-dealer or FINRA member. The broker-dealer activities will be carried out through a separate legal entity, Oasis Pro Markets which will operate under its separate registration.

This separation retains the legal clarity while enabling Ondo to create consumer-centric platforms that interface with a regulated back-end infrastructure provided by Oasis Pro.

Read More: Binance Lists ONDO, BIGTIME, and VIRTUAL After Second Vote to List Campaign

Next Steps: Launch of Tokenized Stocks for Global Markets

While the purchase will help gain access to U.S. markets, Ondo Blu plans to go international.

In the months to come, it plans to offer tokenized equities for non-U. S. investors via its Global Markets platform. Integrations with wallets, exchanges, and DeFi protocols are already underway to bring these offerings to a wider audience.

The Global Markets products in its shop, which include USDY, OUSG that are already trading on Ondo’s platform, are already attracting a lot of attention from international investors and asset managers seeking compliant exposure to U.S Treasuries and blue-chip stocks

A Milestone for Compliant DeFi

This deal also highlights a larger trend in DeFi: Regulated infrastructure is becoming a necessity for long-term prospects.

What truly distinguishes Ondo is the $1.4B asset base, institutional relationships, and now regulatory capability that forms the foundation of the company and positions it at the head of the pack in the race to the top of tokenized securities.

Ondo Finance Secures $1.4B Path to Regulated Tokenized Securities with Major U.S. Broker Deal

The largest pension fund in the world just announced a multi-billion dollar loss largely due to the declining value of the US dollar.

Japan’s Government Pension Investment Fund (GPIF) recorded a $61.1 billion shortfall in the January-March quarter, its first across-the-board loss in all asset classes since mid-2022, reports the Japan Times.

The depreciating dollar, down 4.6% against the yen, significantly reduced the value of GPIF’s international holdings.

Global stock markets also faltered, with the MSCI All-Country World Index declining 1.7%, the S&P 500 falling 4.6%, and Japan’s Topix index dropped 4.5%.

The deficit reduced GPIF’s assets to $1.73 trillion, a 3.4% quarterly drop, as escalating US trade tariffs fueled concerns about a worldwide economic conflict, further weighing on equities.

Meanwhile, Japanese bond yields rose, in contrast to declining US Treasury yields amid the Federal Reserve’s higher-for-longer interest rates.

Despite the setback, GPIF achieved a positive annual return of 0.7% for the fiscal year ending March 31, 2025.

With roughly half its $1.5 trillion in total assets tied up in foreign markets, the GPIF will likely face ongoing risks from currency fluctuations and trade tensions in the months ahead, while the US and Japan try to hammer out a new agreement on trade.

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World’s Largest Pension Fund Loses $61,000,000,000 in Three Months Amid US Dollar Decline

Billionaire investor Paul Tudor Jones says the rise of artificial intelligence (AI) may cause more collateral damage than anyone is expecting.

In a new op-ed for Time, Jones says that while we can celebrate technological progress, there should also be consideration, or even “vigorous debate,” of the societal cost of game-changing technologies like AI.

The Tudor Investment Corporation founder references a recent warning from Dario Amodei, CEO of Anthropic, who said AI could eliminate about half of all entry level white collar jobs in the next one to five years.

Even if Amodei is only half correct, Jones says such a transformation would create “unprecedented social upheaval.”

“If we follow the playbook of the last 45 years where over 92% of productivity gains went to shareholders over workers, and if Amodei is even half right on his unemployment prediction, you can bet we will face unprecedented social upheaval.

In the worst-case scenario, the safety-net strains that high unemployment will place on states and municipalities will force many into bankruptcy. The federal government won’t be a good backstop because with a debt-to-GDP ratio of more than 120% it won’t have the borrowing power it once did. Bond markets will tank and take stocks with them.”

The investor calls for several responses to AI, including a federal law requiring AI content to be watermarked so it’s clear it’s AI-generated. Otherwise, Jones says “humans will become irrelevant in the world we are headed for if we don’t demand human authenticity.”

Jones also calls for a bipartisan commission that addresses issues of productivity sharing, as well as bilateral talks with China to “start establishing shared AI safety protocols to protect the entire world from mistakes and bad actors.”

“None of this is radical. It’s rational. The unemployment data on entry-level jobs is a call to action. The first signs of the societal disruptions of AI are already here.”

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Billionaire Paul Tudor Jones Warns of ‘Unprecendented Social Upheaval,’ Stock and Bond Market Crash Amid Rise of AI

Aoyon Ashraf is CoinDesk's Head of Americas. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ADA, SOL, ATOM and some other altcoins that are below CoinDesk's disclosure threshold of $1,000.

Tsart ng Linggo: Ang Bitcoin ay T Makaalis sa Hawak ng Wall Street

"Wall Street is coming for bitcoin."

That phrase used to spark both hope and fear across crypto circles. Today, it's no longer a future threat or a bullish promise—it's just reality.

STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy .

The original premise of bitcoin (or crypto in general) —an asset that is censorship-resistant and doesn't answer to any traditional financial institution or government—is fading fast as Wall Street giants (as well as powerful political figures) continue to establish their strong foothold in the digital assets space.

During the early years of the digital assets revolution, bitcoin was celebrated as uncorrelated and unapologetically anti-establishment. TradFi asset classes like S&P 500 would rise and fall—bitcoin didn't care.

What bitcoin did care about were the flaws in the traditional financial system, which are still here to this day.

A major example in BTC’s history that’s not-so-talked about anymore is the 2013 Cyprus banking crisis.

The crisis, which occurred due to overexposure of banks to overleveraged local property companies and amid Europe’s debt crisis, saw deposits above 100,000 euros get a substantial haircut.

In fact, 47.5% of uninsured deposits were seized. Bitcoin’s response was to move sharply upward to, for the first time in its history, cross the $1,000 threshold.

After a prolonged bear market over the collapse of Mt. Gox, the idea of mass adoption grew, with Wall Street's entry into the sector seen as a stamp of validation for bitcoin as it meant more liquidity, mass adoption and price maturity.

That changed everything.

The price might have matured, as evidenced by waning volatility. But let’s face it—bitcoin is now just another macro-driven risk asset.

"Bitcoin, once celebrated for its low correlation to mainstream financial assets, has increasingly exhibited sensitivity to the same variables that drive equity markets over short time frames," said NYDIC Research in a report.

In fact, the correlation is now hovering near the higher end of the historical range, according to NYDIG's calculations. "Bitcoin’s correlation with U.S. equities remained elevated through the end of the quarter, closing at 0.48, a level near the higher end of its historical range."

Bitcoin's correlation with S&P 500, gold and USD. (NYDIG Research)

Simply put, when there is blood on the street (Wall Street that is) , bitcoin bleeds too. When Wall Street sneezes, bitcoin catches a cold.

Even bitcoin's “digital gold” moniker is under pressure.

NYDIG notes that bitcoin’s correlation to physical gold and the U.S. dollar is near zero. So much for the “hedge” argument—at least for now.

Risk asset

So why the shift?

The answer is simple: to Wall Street, bitcoin is just another risk asset, not digital gold, which is synonymous with "safe haven."

Investors are repricing everything from central bank policy whiplash to geopolitical tension—digital assets included.

"This persistent correlation strength with U.S. equities can largely be attributed to a series of macroeconomic and geopolitical developments, the tariff turmoil and the rising number of global conflicts, which significantly influenced investor sentiment and asset repricing across markets," said NYDIG.

And like it or not, this is here to stay—at least for a short to medium-term.

As long as central bank policy, macro, and war-linked red headlines hit the tape, bitcoin will likely move in tandem with equities.

"The current correlation regime may persist as long as global risk sentiment, central bank policy, and geopolitical flashpoints remain dominant market narratives," NYDIG's report said.

For the maxis and long-term holders, the original vision hasn't changed. Bitcoin's limited supply, borderless access, and decentralized nature remain untouched. Just don't expect them to impact price action just yet.

For now, the market sees bitcoin as just another stock ticker. Just balance your trade strategies accordingly.

Chart of the Week: Bitcoin Just Can't Get Out of Wall Street's Grip

BlackRock’s iShares Bitcoin Trust ETF (IBIT) is already generating substantial revenue for the world’s largest asset manager, despite being on the market for less than two years.

In a new post on the social media platform X, Bloomberg analyst Eric Balchunas says that IBIT needs to grow its fund’s assets by less than $10 billion to rank as BlackRock’s top revenue-generating exchange-traded fund (ETF).

“IBIT is now the third-highest revenue-generating ETF for BlackRock out of 1,197 funds, and is only $9 billion away from being #1. Just another insane stat for a 1.5-year-old (literally an infant) ETF. Here’s the top 10 list for BlackRock (aside, how about the forgettable IWF at the top spot, who knew?).”

Based on the analyst’s data, BlackRock’s Bitcoin (BTC) ETF is already producing an estimated revenue of $191 million per year at $76.314 billion in fund assets while charging 25 basis points annually to investors. Balchunas appears to posit that if the net assets of the fund grow by $9 billion, IBIT will produce an annual revenue of about $213 million, enough to surpass the revenue generated by IWF.

BlackRock’s IWF or iShares Russell 1000 Growth ETF offers exposure to US firms whose earnings are expected to grow at an above-average rate relative to the market. It has been around since May 2000 and is generating $211 million in yearly revenue, charging 19 basis points per year to investors.

Meanwhile, the firm’s iShares MSCI EAFE ETF (EFA) – which gives investors exposure to a broad range of equities trading in the European, Australian, Asian and Far Eastern markets – was launched in 2001 and is generating $207 million in revenue annually with an expense ratio of 0.32%.

As of Thursday’s close, IBIT is trading at $62.19.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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BlackRock’s Bitcoin Exchange-Traded Fund (IBIT) Just Two Spots Away From Being Firm’s Top Revenue-Generating ETF: Bloomberg Analyst

A Nigerian citizen has confessed to masterminding a multi-million-dollar international inheritance scam that targeted elderly or vulnerable Americans.

In a new press release, the U.S. Department of Justice (DOJ) says that 41-year-old Ehis Lawrence Akhimie has pleaded guilty to operating a transnational inheritance fraud scheme that defrauded over $6 million from more than 400 victims over the course of several years.

Authorities say that Akhimie and his co-conspirators sent letters to their victims in the US falsely claiming they were representatives of a bank in Spain. The scammers told the recipients that their relative had died in another country and left them with a multi-million-dollar inheritance.

The bad actors also told their victims that if they wanted to receive the inheritance, they would need to pay delivery fees, taxes and other bills to avoid any friction with the government.

The scammers then raked in the money and never followed through on any promise.

Akhimie faces 20 years behind bars after pleading guilty to conspiracy to commit mail and wire fraud.

As stated by Assistant Attorney General Brett A. Shumate, head of the Justice Department’s Civil Division,

“The Justice Department’s Consumer Protection Branch will continue to pursue, prosecute and bring to justice transnational criminals responsible for defrauding US consumers, wherever they are located. This case is a testament to the critical role of international collaboration in tackling transnational crime.”

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Fraud Mastermind Carries Out Slew of Inheritance Scams Targeting Elderly and Vulnerable Americans: DOJ

The CEO of one of the biggest Bitcoin mining companies in the world says that the market for turning companies into BTC treasuries is probably getting saturated.

In a new interview with Bloomberg Television, Marathon Digital CEO Fred Thiel says that a slowdown is approaching for the Bitcoin treasury business model as the market becomes too crowded and competitive.

“The problem is what happens if the Bitcoin price stays flat or starts to go down? You said his stock was up over a five-year basis by a huge amount, which is true, but if you look at year-to-date at its performance compared to Bitcoin miners, you’re starting to see that that performance is running into headwinds.

In theory, a Bitcoin treasury company’s price should increase by upwards of two times whatever the Bitcoin price is increasing on a daily basis because of the leverage that they’re driving. And that’s not the case anymore.

I think what we’re starting to see is a saturation of the Bitcoin treasury business market because to your point, they’re not in any other business, they’re taking over a company with a marginally profitable business and they’re turning it into an accumulator for Bitcoin. At the end of the day, you have a bunch of people competing for capital, and that capital is going to the highest return, which means the lowest multiple to NAV (net asset value), and over time, that multiple to NAV is eventually going to go to zero…”

Some of the recently launched BTC treasuries include Anthony Pompliano’s ProCap BTC, Grant Cardone’s Cardone Capital, Gamestop and Japanese hotel company MetaPlanet.

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Marathon Digital CEO Fred Thiel Warns Bitcoin Treasury Companies Becoming ‘Saturated’ – Here’s His Forecast

A 72-year-old man is pushing for reimbursement from Wells Fargo after falling for a scam hitting bank account holders across the country.

According to ABC 7 News, Tracy Jeffords received a text supposedly from the toll fees payment platform FasTrak after a journey to San Francisco.

Convinced the text was genuine, the Lake County, California resident entered his debit card details to complete the payment.

But a day later, Jeffords received an actual letter from FasTrak saying he owed the toll fees payment platform money. It was then that Jeffords checked his bank account only to find that more than $3,300 was missing after a purchase on eBay was made using his debit card information, according to the report.

ABC 7 News cites Jeffords saying,

“It made me feel terrible. And the thing is, it’s going to happen to somebody else.”

The Lake County resident disputed the charge with Wells Fargo but the trillion-dollar bank has so far refused to reimburse. His attempt to dispute the charge with eBay has also proven unsuccessful.

According to an expert contacted by ABC 7 News, getting reimbursed for fraudulent debit card purchases is harder than for those made using a credit card. Jeffords has nonetheless vowed to fight on to get his money back, according to the report.

He tells ABC 7 News,

“It’d be everything to get it back, because it’s a lot for me. You know, I don’t work.”

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Bitcoin Waits for Guidance From U.S. Inflation Data, Bond Market

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