【AiCoin | 7.10 Snapshot: Whales Move/Transfer Out BTC, Supreme Court Regulatory Ruling, Gold Breaks 4118】

1. Trump Terminates Ceasefire, US-Iran Military Conflict Escalates: Iranian Missiles Strike US Base in Jordan
   US commercial crude oil inventories are at decades-low levels. The US Energy Department reported a 3 million barrel increase in commercial crude stocks last week. President Trump announced the termination of the ceasefire agreement. Andy Lipow, president of Houston-based Lipow Oil Associates, said that once inventories fall to the minimum operating floor, the most worrying scenario for the oil market later this year will become reality. Energy industry executives and analysts warned that if shipping via the Strait of Hormuz is blocked again, US energy security will face a severe threat, and the market is not pricing in a repeat of this spring's oil crisis when prices broke above $100 per barrel. If the US is forced to continue tapping the Strategic Petroleum Reserve, it will lack sufficient reserves for emergency coverage, and oil prices will surge again. - Source

2. JPMorgan: Blockchain Shift to Permissioned Chains Poses Structural Risk to Bitcoin
   According to The Block, JPMorgan analysts noted that Strategy's recent Bitcoin sales and its BTC liquidation plan create short-term selling pressure, but the bigger risk lies in blockchain applications moving toward bank-built or regulator-friendly permissioned chains and unified ledgers. If tokenized deposits, SWIFT blockchain projects, and central bank digital currencies are implemented within traditional financial infrastructure, public chain and token activity, liquidity, and capital flows will be weakened, demand for stablecoins will be partially replaced by bank tokenized deposits, and Bitcoin's performance will be suppressed. - Source

3. BlackRock Transfers 951.5 BTC to Coinbase Prime, Worth $59 Million
   According to Onchain Lens, BlackRock transferred 951.5 BTC to Coinbase Prime, valued at approximately $59 million. - Source

4. Circle Faces Criminal Charges from Wisconsin Prosecutors for Refusing to Help Recover Scammed Funds
   According to the International Consortium of Investigative Journalists (ICIJ), stablecoin issuer Circle faces criminal charges from Wisconsin prosecutors for refusing to comply with a court order to help recover funds from scam victims. A Wisconsin victim was scammed out of approximately 381k USDC. In December last year, a court issued a writ requiring Circle to transfer the frozen assets to law enforcement wallets, but Circle refused, citing technical inability to destroy and reissue tokens. New York prosecutors sent a letter to the US Senate accusing Circle of refusing asset freeze requests without a court order and questioning its profit motive, noting that Circle holds at least 119 million frozen USDC, which continues to earn interest income. Circle denies the allegations, claiming the Wisconsin court lacks jurisdiction and stating it has reached a preliminary agreement with federal prosecutors on a victim compensation mechanism. Cryptocurrency tracking experts pointed out that Circle can achieve token destruction and reissuance by updating code, casting doubt on its claim of technical impossibility. - Source

5. US Supreme Court Rules 6-3 That President Has Power to Remove Leaders of Independent Federal Agencies, Affecting SEC and CFTC Regulation
   According to The Block, the US Supreme Court ruled 6-3 in support of President Trump's power to remove leaders of multiple independent federal agencies, including the FTC. This affects the SEC and CFTC's ongoing work on crypto asset regulatory rule revisions, exemptions, and jurisdictional divisions. - Source

6. Hyperliquid Urges CFTC to Recognize On-Chain Protocols Do Not Require Registration
   Hyperliquid's policy center submitted a response to the US Commodity Futures Trading Commission, demanding that on-chain protocols be recognized as not requiring registration, that non-custodial wallets do not assume the role of financial intermediaries, and that a clear path be provided for performing regulatory functions on-chain. - Source

7. Spot Gold Rises 1% Intraday, Breaks $4,118.26 per Ounce

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