The US Treasury Department completes a $2 billion debt buyback operation

According to Hyperinsight monitoring, the total transaction volume of Hyperliquid in the past 24 hours was about 9.19 billion US dollars, with the Builder channel contributing about 776 million US dollars, accounting for 8.4% of the total transaction volume on the site. Phantom contributed approximately $138 million in transaction volume, Invo contributed approximately $65.92 million, and the other 387 Builders contributed a total of approximately $264 million. In the past 7 days, the Hyperliquid Builder ecosystem has generated approximately $1.4 million in transaction fees, covering approximately 56000 users. Phantom contributed approximately $374300 in commission income, ranking first, MetaMask contributed approximately $198100, and Invo contributed approximately $117600. In the past 7 days, Invo has had approximately 15000 users, accounting for 26.1%, surpassing Phantom's approximately 9000 users.

According to The Wall Street Journal, Michael Bury shorted Tesla (TSLA), Caterpillar (CAT), Applied Materials (AMAT), and an exchange traded fund (ETF) that tracks chip manufacturers. Michael Bury questioned whether capital investment in the AI field could be converted into returns, and stated on Substack that the announcement by Samsung Electronics and SK Hynix to invest over $500 billion in building a chip industry cluster is the beginning of the end.

The Sui mainnet has been upgraded to version 1.74.1, and the protocol synchronization has been upgraded to version 128. It supports zero gas stablecoin transfer trading simulation, adopts a timestamp based Epoch termination mechanism, adds a static check function for Move code, optimizes the verification node connection mechanism, node restart stability, range proof verification, encryption performance, and Binary Pools related protocol mechanisms.

According to CNBC, US President Trump responded to questions by stating that the profit was due to the rise in the stock market and the funds being managed by institutions, and that he did not participate in investment decisions. According to Bloomberg, US President Trump's annual financial disclosure shows that he will profit at least $1.4 billion from cryptocurrency and Meme related businesses by 2025.

OKX will launch perpetual stock contracts on its website, app, and API for some supported countries and regions on July 2nd. SOFTBANK/USDT will be open for trading at 13:30 (UTC+8), while TQQQ/USDT, MVLL/USDT, and MUU/USDT will be open for trading at 17:00, 17:15, and 17:30 (UTC+8), respectively. All of these contracts are settled in USDT and support 7 × 24 hours of trading. The settlement period for fund fees is 8 hours. Leveraged ETF perpetual contracts (TQQQ, MVLL, MUU) track funds that already use daily leverage exposure. Perpetual contracts are based on this, and leverage is added to amplify liquidation risks and losses.