[News Brief] Jul 10, morning | Circle Receives Approval for a Federally Regulated Trust Bank in the U.S.

Circle Receives Approval for a Federally Regulated Trust Bank in the U.S.

Watcher.Guru reported that Circle, the issuer of USDC, has received approval to operate as a federally regulated trust bank in the United States.

The approval comes as regulatory frameworks for stablecoin issuers are being refined. Through this approval, Circle has laid the foundation for expanding institutional financial infrastructure and custody services.

U.S. Clarity Act Gains Bipartisan Support

A Coinbase vice chairman said that the Clarity Act, a U.S. crypto regulation bill, is receiving support from both Democrats and Republicans.

According to Bitcoin Magazine, he said, “Democratic and Republican senators are continuing discussions to finalize passage of the bill.”

The Clarity Act is legislation designed to clarify digital asset market structure and supervisory authority in the United States.

Hyundai Completes Overseas Fund Transfer Test Using USDT on Avalanche

According to Wu Blockchain, Hyundai Motor completed an internal cross-border fund transfer test on Avalanche, moving $20,000 worth of USDT from its U.S. subsidiary to its Mexico subsidiary.

Hyundai said the test reduced the process time from several hours through traditional banking networks to about seven minutes.

The company plans to expand the method to more countries and local currencies, and will conduct a second test later this month with Circle and Visa targeting its European subsidiaries.

Crypto Futures Market Sees $235 Million in Liquidations Over 24 Hours

According to CoinGlass, about 58,248 traders were liquidated in the global crypto futures market over the past 24 hours, with total liquidations reaching approximately $235 million.

Of that amount, short liquidations accounted for about $167 million, while long liquidations totaled about $68.22 million. Shorts made up roughly 70% of total liquidations.

By exchange, Binance, Bybit, Bitget, and OKX ranked among the top venues. Binance alone accounted for about $96.05 million, or more than 40% of the total.

The largest single liquidation occurred on the Bitget BTCUSDT futures contract, totaling about $10.89 million.

Metaplanet Reviews Bitcoin-Collateralized Digital Credit Products

Japanese listed company Metaplanet has begun reviewing digital credit products backed by Bitcoin.

According to Wu Blockchain, Metaplanet said it is examining the feasibility of issuing products that combine BTC collateral, stablecoins, tokenization infrastructure, JPYC, Progmat, and its securities subsidiary.

The concept aims for 24-hour issuance, settlement, and interest payments. However, specific issuance terms and timelines have not yet been finalized.

1,172 BTC Moved From Coinbase to an Unknown Wallet

According to Whale Alert, 1,172 BTC was transferred from Coinbase to an unknown wallet. The transfer was valued at about $74.97 million.

Large transfers from exchanges to external wallets are generally interpreted as custody withdrawals or movements related to over-the-counter transactions.

U.S. and Iran Expected to Hold New Talks Next Week

According to Odaily, Axios reported, citing sources, that the United States and Iran are expected to hold new talks next week.

Switzerland is reportedly being considered as a possible venue. A resumption of dialogue between the two countries is viewed as a factor that could affect Middle East tensions and global risk-asset sentiment.

China and Namibia Sign Eight Cooperation Agreements in Energy and Critical Minerals

China and Namibia signed eight cooperation agreements during a state visit to Beijing this week, covering energy, critical minerals, infrastructure, agriculture, and economic development.

The agreements come amid China’s expanding influence over Namibia’s next-generation energy development and critical resource supply chains.

Barclays Issues Brent Oil Forecasts for 2026 and 2027

According to Odaily, Barclays projected Brent crude oil prices at $96 per barrel in 2026 and $85 per barrel in 2027.

Barclays said the upside and downside risks surrounding the outlook appear broadly balanced.

Polymarket Sees 82% Chance Bitcoin Reclaims $65,000 This Month

According to Bitcoin Magazine, prediction market Polymarket shows an 82% chance that Bitcoin will recover to $65,000 this month.

This suggests that investors are viewing a short-term rebound in Bitcoin’s price as highly likely.