According to SemiAnalysis analysis, the latest four economic data in the United States were affected by one-time factors, and the real domestic demand growth rate of GDP in the first quarter was revised down to 1.7%. The 0.7% month on month increase in personal income in May included a one-time agricultural disaster subsidy of $59.6 billion. PCE inflation was 4.1% driven by energy, and tariffs raised commodity inflation to 4.8%. AI related capital expenditures have become the main driving force, with equipment, software, and IP contributing approximately 1.55 percentage points to GDP growth in the first quarter, which is about four times the contribution of household consumption.

Sky has partnered with Spark and Uniswap to launch the stablecoin exchange system FX Layer, with Sky providing $150 million in USDS liquidity support. USDS serves as the initial valuation asset, providing basic liquidity for the USDS/USDT and USDS/PSYSD fund pools. Spark serves as the orchestration layer to coordinate liquidity allocation, while Uniswap v4 provides a programmable AMM architecture to execute transaction paths. The system aims to provide a shared liquidity infrastructure for stablecoin issuers.

The US Supreme Court has rejected President Trump's request to dismiss Federal Reserve Governor Lisa Cook.

[The U.S. Senate is in recess, stakeholders are coordinating to resolve obstacles to the Clarity Act vote] According to Eleanor Terrett, as the U.S. Senate is in recess until July 13, relevant staff, the White House, and industry stakeholders are working intensively to address key issues preventing the Clarity Act from reaching a full Senate vote. The progress of negotiations over the next two weeks will determine the future direction of the bill.

The spot gold price fell below $4020 per ounce, with a intraday decline of 1.77%.