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Odaily reports that Lorenzo Valente, Digital Asset Research Director at ARK Invest, published an article questioning the stablecoin alliance project OpenUSD. He remains highly skeptical about whether these consortium-style stablecoin initiatives can achieve scale. Valente noted that such alliances have previously emerged—including Diem and Global Dollar—but ultimately failed to generate dominant network effects. Currently, the stablecoin market is still led by Tether and Circle, whose main advantages are strong network effects and instant liquidity. OpenUSD may face a “cold start” problem, as the joint governance structure severely slows down decision-making efficiency and decentralized governance easily falls into coordination failure, similar to DAO experiment governance issues: high collaboration costs, slow execution, and inefficient capital deployment. Additionally, OpenUSD’s economic model also appears difficult to sustain long-term operations. If it relies on a low fee-sharing mechanism, it will not be able to cover infrastructure, incentives, and market expansion costs. Lorenzo Valente concluded that OpenUSD is more like a “collection of letters of intent” rather than a unified product system with strong execution capabilities. He believes that, in the long run, the winner is more likely to be a single operational entity capable of rapid iteration and independent decision-making, rather than a joint governance structure requiring broad consensus.

Jinse Finance reported that on July 1st, Joachim Nagel, a member of the European Central Bank executive board, stated that, in the context of ongoing uncertainty surrounding the Middle East situation and its impact on inflation, he remains open-minded about what actions should be taken at the next two rate-setting meetings. Nagel, who is also the President of the German Bundesbank, commented that the recent drop in oil prices was "absolutely unexpected," but cautioned that the sustainability of this decline and the eventual outcome of the US-Iran peace agreement still need to be observed. "I won't speculate about future rate increases," Nagel said Wednesday in Sintra, Portugal. "For the July and September meetings, I will keep all options open," describing it as "an open competition." The European Central Bank is holding its annual meeting there.

According to on-chain analyst Ai Yi’s monitoring, four addresses suspected to belong to the same entity have collectively gone long on 800 BTC with 20x leverage, with total positions exceeding $46.88 million. Currently, they are facing an unrealized loss of $450,000.