Group 1 - The U.S. stock indices showed mixed performance, with the Dow Jones down 0.32% and the S&P 500 down 0.01%, while the Nasdaq rose 0.05% [2] - The GENIUS Act, signed by President Trump, establishes a federal regulatory framework for stablecoins, marking a significant step in U.S. cryptocurrency regulation [2][3] - The act requires issuers to hold short-term government bonds or equivalent assets equal to the amount issued, which is expected to create demand for U.S. Treasury bonds [3] Group 2 - Cryptocurrency market capitalization surpassed $4 trillion for the first time, with Ethereum experiencing a 22% increase over five days, and Bitcoin reaching a historical high of $123,200 earlier in the week [5] - Major tech stocks mostly rose, with Tesla up over 3% and Amazon up more than 1%, while some stocks like Nvidia and Microsoft saw declines [5] - Cryptocurrency-related stocks showed mixed results, with Robinhood up 4.07% and Coinbase up 2.2%, while Circle fell over 4.71% after an initial rise [3][5] Group 3 - Gold, silver, and oil prices experienced declines, with gold down 0.12% to $3,354.75 per ounce, silver down 0.51% to $38.1975 per ounce, and WTI crude oil down 1.68% [8][10] - The Federal Reserve's Goolsbee indicated that tariffs are disrupting inflation expectations and delaying potential interest rate cuts, which could impact economic growth [11][12]

【导读】 Circle突发大跳水； 美联储古尔斯比称，关税进一步扰乱通胀前景并推迟了美国可能的降息举措 中国基金报记者 张舟 美东时间 7 月 18 日周五，美国三大股指涨跌不一，三大股指本周走势涨跌互现。特朗普签署《 GENIUS 法案》，为稳定币设立联邦监 管框架，承诺绝不允许在美国创建央行数字货币。 黄金、银、原油本周下跌。现货黄金报 3354.75 美元 / 盎司，本周跌 0.12% ；现货白银报 38.1975 美元 / 盎司，本周跌 0.51% ； 国际油价小幅收跌， WTI 本周跌 1.68% 。 有报道称，特朗普将很快宣布重大贸易协议。美联储古尔斯比称，关税进一步扰乱通胀前景并推迟了美国可能的降息举措。 三大股指本周涨跌互现 特朗普签署 GENIUS 法案 截至收盘，道指跌 0.32% ，报 44342.19 点；标普 500 指数跌 0.01% ，报 6296.79 点；纳指涨 0.05% ，报 20895.65 点。本 周，道指跌 0.07% ，标普 500 指数涨 0.59% ，纳指涨 1.51% 。 当地时间 7 月 18 日，美国总统特朗普在白宫正式签署《指导与建立美国稳定币国家创新 ...

Group 1: Cryptocurrency Market Highlights - Bitcoin reached a new all-time high of $123,226, currently priced at $118,547.1, with a 24-hour increase of 0.13% [1] - The total market capitalization of cryptocurrencies surpassed $4 trillion, with Bitcoin accounting for 59.9% and Ethereum for 10.8% [2] - XRP's price exceeded $3.6, with a market capitalization over $210 billion, making it the third-largest cryptocurrency [2] Group 2: Ethereum Developments - Ethereum's total contract open interest surpassed $50.3 billion, marking a historical high with a 24-hour growth of 8.09% [3] - In the last 24 hours, 145,988 individuals were liquidated, totaling $549 million, with the largest single liquidation occurring at $3.2058 million [3] - SharpLink became the entity holding the most Ethereum, purchasing approximately 74,656 ETH for about $213 million, with a total holding of around 280,706 ETH [4] Group 3: Regulatory and Legislative Updates - President Donald Trump plans to sign an executive order allowing 401(k) retirement accounts to invest in cryptocurrencies and alternative assets, potentially opening a $9 trillion retirement market [7] - The U.S. House of Representatives passed three cryptocurrency-related bills, including the GENIUS Act, which will become the first major legislation on cryptocurrency [9] Group 4: Institutional and Banking Initiatives - Standard Chartered launched spot trading services for Bitcoin and Ethereum for institutional clients, becoming the first global systemically important bank to offer such services [13] - Sberbank, Russia's largest state-owned bank, announced plans to provide custody services for local crypto assets [12] Group 5: Market Challenges and Future Outlook - Mastercard's Chief Product Officer stated that despite the advantages of stablecoins, challenges such as user experience and channel coverage hinder their mainstream adoption [15] - A proposal was made to phase out Bitcoin addresses vulnerable to quantum attacks, indicating ongoing concerns about security in the cryptocurrency space [14]

特朗普在讲话中表示，他已签署行政令，设立联邦"战略比特币储备"和"国家数字资产储备"。同时，特 朗普重申他"绝不会允许在美国设立中央银行数字货币"。 美国众议院17日以308票赞成、122票反对的结果，通过了这一法案。该法案旨在为"锚定"美元的稳定币 制定监管框架。然而，该法案曾遭到部分人士的质疑和反对。一些民主党人认为，该法案未能为消费 者、国家安全或金融稳定提供足够的保障，并指责特朗普家族与加密货币存在联系。 美众议院通过稳定币相关法案 提振美债但风险犹存 当地时间17日，美国众议院以308票赞成、122票反对的结果，通过了《指导与建立美国稳定币国家创新 法案》（简称《天才法案》），该法案旨在为"锚定"美元的稳定币制定监管框架。该法案此前已经在参 议院获得通过，将提交给美国总统特朗普，预计将由特朗普签署成为法律。 此外，众议院当天还以294票对134票的结果，通过了《数字资产市场清晰法案》，法案此后将提交参议 院审议。该法案旨在明确美国证券和交易委员会和商品期货交易委员会的监管范围，为加密货币市场提 供明确规则。据法新社报道，该法案争议较大，难以确保最终成法。 （原标题：凌晨重磅！特朗普，签了！） 特朗普 ...

Group 1: Defense Industry - The defense industry is identified as a major beneficiary of Trump's policies, with over $150 billion allocated for defense in the "Big and Beautiful" tax plan [1] - NATO countries have committed to increasing military spending to 5% of GDP under pressure from the Trump administration, expanding the global defense market [1] - Recommended investment tool includes the Global X Defense Tech ETF (SHLD.US), which holds key defense technology companies like Palantir Technologies (PLTR.US), Lockheed Martin (LMT.US), and BAE Systems (BAESY.US) [2] Group 2: Energy Sector - The new tax plan shifts focus from renewable energy subsidies to supporting fossil fuels and nuclear energy [2] - The iShares U.S. Oil & Gas Exploration & Production ETF (IEO.US) is highlighted as a potential beneficiary, with significant holdings in traditional energy companies such as ConocoPhillips (COP.US), EOG Resources (EOG.US), and Marathon Oil (MPC.US) [2] - The Global X Uranium ETF (URA.US) is favored for its focus on uranium mining and nuclear energy companies, including Cameco (CCJ.US), NuScale Power (SMR.US), Oklo (OKLO.US), and NexGen Energy (NXE.US) [2] Group 3: Digital Assets - Trump's support for the cryptocurrency community is noted, with the recent passage of a stablecoin regulation bill seen as a victory for the crypto industry [3] - Recommended ETFs related to cryptocurrencies include iShares Bitcoin Trust (IBIT.US) for Bitcoin holdings and ARK Fintech Innovation ETF (ARKF.US) for investments in innovative financial companies linked to cryptocurrencies, such as Robinhood (HOOD.US), Coinbase (COIN.US), and Circle (CRCL.US) [3] Group 4: Artificial Intelligence - The artificial intelligence sector is recognized for its long-term potential and presidential support, particularly in defense, fintech, and government applications [3]

智通财经APP获悉，周五，三大指数涨跌不一。本周道指累计下跌0.07%，纳指上涨1.51%，标普500指 数上涨0.59%。美国总统特朗普在白宫正式签署《指导与建立美国稳定币国家创新法案》（GENIUS 法 案），标志着美国稳定币监管立法进入实施阶段。 【美股】截至收盘，道指跌142.30点，跌幅为0.32%，报44342.19点；纳指涨10.01点，涨幅为0.05%，报 20895.66点；标普500指数跌0.57点，跌幅为0.01%，报6296.79点。纳指连续第五个交易日上涨，并创盘 中与收盘历史新高。加密概念股涨跌互现，Robinhood(HOOD.US)涨4.07%、Coinbase(COIN.US)涨 2.2%、Circle(CRCL.US)跌4.71%、Hut 8(HUT.US)跌2.26%。3M(MMM.US)跌3.63%，奈飞(NFLX.US)跌 5.10%。 【欧股】德国DAX30指数跌80.57点，跌幅0.33%，报24286.90点；英国富时100指数涨17.38点，涨幅 0.19%，报8990.02点；法国CAC40指数涨0.67点，涨幅0.01%，报7822.67点；欧洲斯托克50 ...

Market Overview - Trump is pushing for higher tariffs on EU goods, with a potential minimum tariff of 15%-20% on all EU products, affecting up to 70% of imports from certain countries [3][10] - The U.S. consumer inflation expectations have improved, contributing to mixed performance in the stock market, with tech stocks supporting a slight rise in the Nasdaq [2] - The Federal Reserve's Waller supports a rate cut in July, indicating a potential shift in monetary policy [11] Economic Policy and Regulation - The National Committee of the Chinese People's Political Consultative Conference held a meeting to analyze macroeconomic trends and strategize for the "14th Five-Year Plan" [9] - The Ministry of Industry and Information Technology (MIIT) is focusing on phasing out outdated production capacity and promoting digital transformation in key industries [9] - The Chinese government is expected to introduce new policies to stimulate consumption and expand domestic demand [14] Cryptocurrency and Financial Markets - The global cryptocurrency market has surpassed $4 trillion for the first time, with stablecoins being viewed as a tool to enhance the strength of the U.S. dollar [3][13] - Ethereum's spot ETF has seen record inflows, attracting over $7 billion in a single day, indicating strong market interest [21] Company Developments - Nvidia's stock has shown signs of overheating, with analysts cautioning about potential corrections following significant price increases [12] - Barclays has compared Futu to a combination of Robinhood, Coinbase, and Fidelity, highlighting its growth potential in the Asian market [17] - Saab's Q2 earnings exceeded expectations, leading to an upward revision of its annual sales guidance, driven by increased military spending in Europe [23]

Core Viewpoint - The cryptocurrency market has experienced a significant rally, driven by positive regulatory developments and increased institutional interest in digital assets [2][3][4]. Group 1: Cryptocurrency Market Performance - On July 18, major cryptocurrencies such as Ethereum and XRP saw substantial gains, with Ethereum rising over 8% and XRP nearly 20% [1][3]. - The total market capitalization of cryptocurrencies surpassed $4 trillion for the first time, indicating a structural repositioning of cryptocurrencies within the global financial system [3]. - Bitcoin's performance lagged behind other altcoins, with a maximum intraday increase of less than 2%, suggesting a shift in market dynamics towards emerging altcoins [3]. Group 2: Regulatory Developments - The U.S. House of Representatives passed several bills related to cryptocurrencies, including the "Stablecoin Innovation Act," which aims to establish a regulatory framework for stablecoins [3][4]. - The "Digital Asset Market Clarity Act" was also approved, seeking to clarify the regulatory scope of the SEC and CFTC over the cryptocurrency market [4]. - These legislative actions are expected to enhance clarity and stability in the cryptocurrency market, potentially attracting more institutional investment [5]. Group 3: Impact of Trump's Executive Order - President Trump's anticipated executive order will allow approximately $9 trillion in U.S. 401(k) retirement savings plans to invest in alternative assets, including cryptocurrencies [6][9]. - This move is expected to transform the management of retirement funds in the U.S., opening up new investment opportunities for individuals [6][7]. - The order may also benefit major private equity firms like Blackstone and Apollo, which are looking to tap into the 401(k) market, potentially attracting hundreds of billions in new capital [8][9].

21世纪经济报道记者吴斌 "加密货币周"一波三折，三大法案在最初折戟后终于过关。 据央视新闻报道，当地时间7月17日，美国国会众议院以308票赞成、122票反对的结果通过了《指导与 建立美国稳定币国家创新法案》（以下简称《天才法案》），旨在对加密货币监管进行重大立法改革， 在美国总统特朗普签署后将成为法律。 此外，众议院17日还以294票赞成、134票反对的结果通过了第二项范围更广的加密货币市场结构法案 《清晰法案》，该法案将提交参议院审议，旨在为数字资产建立一个更广泛、更有利于行业的监管框 架。《反CBDC法案》也将送往参议院审议。 一天内三项法案密集在众议院通过，背后有哪些深层次考量？后续可能会遭遇哪些阻力？未来会如何重 塑金融体系？ 《天才法案》率先过关 与《清晰法案》和《反CBDC法案》还要迈过参议院这道坎不同，《天才法案》已经清除了所有障碍。 OKX研究院高级研究员赵伟对记者表示，《天才法案》作为美国首个为支付型稳定币确立系统化法律 地位的联邦法案，它不仅填补了监管空白，更为美元稳定币的全球流通提供了制度背书。法案要求只有 持牌银行或经批准的支付机构才能发行稳定币，并且必须持有100%美元现金或美债 ...

Group 1: Market Performance - US stock indices opened slightly higher, with the Dow Jones up 0.16%, Nasdaq up 0.35%, and S&P 500 up 0.25% [1] - Chinese concept stocks saw significant gains, with New Oxygen rising over 9%, Kingsoft Cloud up over 7%, and JD.com and Bilibili both up over 5% [1] Group 2: Economic Policy and Currency - The Bank of England has requested financial institutions to assess their resilience against potential dollar shocks, indicating a decline in global trust in the US dollar due to current economic policies [2] - The US dollar is considered the "lifeline" of the global financial system, but recent actions by the Trump administration have prompted a reevaluation of reliance on the US for emergency dollar liquidity during financial stress [2] Group 3: Oil Market - International oil prices are in a dangerous zone, threatening the profitability of oil producers, as stated by a top energy investor [3] - Current price trends indicate that oil prices are "dangerously close" to levels where producers may operate at a loss [3] Group 4: Cryptocurrency Regulation - The US House of Representatives has passed significant legislation regarding stablecoins, establishing clear regulatory rules for the cryptocurrency industry [4] - The "Genius Acts" requires stablecoin issuers to maintain a 1:1 reserve with short-term government bonds or similar regulated products [4] Group 5: Company News - Yushu Technology has initiated its listing guidance with CITIC Securities as the advisory institution, with the controlling shareholder holding 34.763% of the company [5] - Apple is participating in the China International Supply Chain Promotion Expo for the third consecutive year, showcasing collaboration with Chinese suppliers to promote local innovation and green transformation [6] Group 6: Technological Advancements in Media - Netflix has utilized AI for the first time to create visual effects for a series, aiming to reduce production costs while enhancing content quality [7] - The Argentine sci-fi series "The Eternaut" is the first project to feature AI-generated visual effects [7]