On July 10, Block Rhythm reported that The Federal Reserve (FED) staff expect the real GDP rise in 2025 to be higher than previously predicted, and the inflation rate to be lower than previously anticipated.
Participants believe that uncertainty regarding the economic outlook has diminished due to announced and anticipated tariff reductions, but overall uncertainty remains at a high level. Most officials believe that tariffs may lead to persistent inflation risks.

The Web3.0 Security Report for the first quarter of 2025 shows that security incidents rose to 197, with total losses reaching $1.67 billion, an increase of 303.4%. Ethereum suffered the most severe attacks, with losses mainly stemming from wallet theft and Private Key leaks. Despite frequent Phishing incidents, total losses remain relatively low. The industry, regulatory bodies, and users need to work together to enhance security.

Stripe recently acquired the wallet infrastructure provider Privy, aiming to build a complete tech stack for stablecoins and Programmability. With Privy and the previously acquired Bridge, Stripe will simplify the encryption payment process, enhance user experience, and promote the adoption of stablecoins in mainstream financial systems.

On July 10, Block Rhythm will release the monetary policy meeting minutes from The Federal Reserve (FED) in ten minutes.

The U.S. housing finance regulator has included encryption assets in the mortgage assessment system.
Recently, the Federal Housing Finance Agency (FHFA) of the United States issued a landmark directive, formally requiring for the first time that encryption assets be included in the mortgage asset assessment system. Although the policy is still in the preliminary exploration stage, with specific details yet to be clarified, its strategic significance in promoting the accelerated integration of cryptocurrency into mainstream finance has sparked heated discussions within the crypto community.
William J. Pulte, the director of FHFA, announced on social media that the agency will study the "applicability of cryptocurrency assets in mortgage qualification assessments." Subsequently, Pulte further stated, "After in-depth research, and in response to the vision of making the United States a global cryptocurrency capital, I have directed Fannie Mae and Freddie Mac to prepare to include cryptocurrency as part of mortgage assets."
FHFA stated in official documents that Fannie Mae and Freddie Mac

Regulatory Dynamics
1. The UK prohibits the sale of cryptocurrency derivatives to retail investors.
The ban by the UK's Financial Conduct Authority (FCA) on the sale of cryptocurrency derivatives and exchange-traded notes to retail customers officially came into effect on January 6. The FCA believes that due to the high volatility of cryptocurrencies, derivatives are not suitable for retail consumers. This ban applies to all firms operating within the UK or conducting business in the UK.
2. The United States allows banks to use stablecoins for payments.
The Office of the Comptroller of the Currency ( OCC ) issued a clarification letter stating that federally regulated banks can use stablecoins for payments, and banks and savings associations can now operate crypto nodes and use associated stablecoins for payment activities. However, banks must also be aware of the potential risks to ensure that these risks can be managed safely and reasonably.
3. Israel classifies functional tokens as securities
Israel Securities Authority (I

Overview of the Web3 Data Ecosystem
On January 3, 2009, the Bitcoin genesis block was born, marking the origin of Web3 data. Unlike the Web2 world where data is monopolized by giant companies, Web3 data is stored on the blockchain, featuring characteristics of tamper-proof, traceable, and publicly transparent, restoring data sovereignty to individuals and allowing anyone to freely access and analyze this data.
The data ecosystem of Web3 can be divided into three layers:
Node Service
Node service providers deploy and maintain blockchain nodes, providing RPC interface access, data access, and staking services for some PoS chains. Major service providers include:
- ZAN: A brand under Ant Group, providing connectivity services for over 22 blockchain networks.
- Infura: A service under ConsenSys that provides Ethereum infrastructure services.
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The article analyzes the development and current status of decentralized physical infrastructure networks (DePIN) in the Solana ecosystem, pointing out that Solana leads other blockchains with a market capitalization of $3.25 billion. Major projects such as Helium and Render have demonstrated rapid on-chain income growth, and node participation has also significantly increased, showing the potential and actual value of decentralized infrastructure.

[Bihu] The Federal Reserve (FED) meeting minutes: All participants agreed that it is appropriate to keep the federal funds Intrerest Rate within the current target range.
Several participants stated that the current federal funds interest rate may not be much higher than the neutral interest rate.

The Monetary Authority of Singapore has recently strengthened Web3 regulations, requiring all digital Token service providers to obtain licenses to prevent Money Laundering risks. This shift affects the local industry landscape and drives global regulatory competition over Web3 and stablecoins. At the same time, Compliance capability has become a new dividing line in the industry, with institutions that successfully obtain licenses holding a clear advantage.