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Fed rate-decision meeting minutes, SpaceX (SPCX) joins Nasdaq 100: Crypto Week Ahead

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Fed rate-decision meeting minutes, SpaceX (SPCX) joins Nasdaq 100: Crypto Week Ahead

This week is characterized by macroeconomic reports, which include the minutes from last month’s Federal Open Market Committee (FOMC) meeting, as well as economic data that may provide insights into the Federal Reserve’s next moves.

Crypto-linked equities are also in the news, with American Bitcoin (ABTC) dodging a Nasdaq delisting after a reverse split.

SpaceX, Elon Musk’s space transportation and AI company, joins the Nasdaq 100, becoming the fourth member of the tech-heavy index to hold bitcoin BTC$63,915.57. Index membership is likely to boost demand for the shares, partly because tracker funds need exposure to the company and partly because the stock is more likely to meet firms’ investment criteria.

Others include Tesla (TSLA), Strategy (MSTR) and Mercado Libre (MELI). The space exploration firm, which holds 18,712 BTC, is expected to have more weight in the index than the latter two.

Beyond that, geopolitical developments and the further collapse of the yen against the dollar are factors to keep an eye on. Bitcoin’s negative correlation to the yen’s exchange rate against the dollar has been unusually high, with BTC tending to rise when the yen weakens.

What to Watch

(All times ET)

  • Crypto
    • July 6: American Bitcoin (ABTC) to trade after 1-for-15 reverse stock split reduced total outstanding shares to about 73 million.
    • July 7: SpaceX (SPCX) to join the Nasdaq 100 index.
    • July 7: Berachain (BERA) to undergo its PoL Next upgrade.
  • Macro
    • July 06, 09:45 a.m.: U.S. S&P Global Services PMI Final for June est. 51.3 (Prev. 50.7)
    • July 06, 10:00 a.m.: U.S. ISM Services PMI for June (Prev. 54.5)
    • July 07, 11:00 a.m.: U.S. Consumer Inflation Expectations for June (Prev. 3.5%)
    • July 08, 02:00 p.m.: U.S. FOMC Minutes
    • July 08, 09:30 p.m.: China Consumer Price Index YoY for June (Prev. 1.2%)
    • July 09, 08:30 a.m.: U.S. Initial Jobless Claims for period ending July 04 (Prev. 215K)
    • July 09, 09:00 a.m.: U.S. Fed Williams Speech in a keynote discussion on “The Future of Market Liquidity and Functioning”
    • July 10, 08:30 a.m.: Canada Unemployment Rate for June (Prev. 6.6%)
  • Earnings

Token Events

  • Governance Votes & Calls
    • ENS DAO is voting on an executable proposal to renew its Security Council for a two-year term, deploy an updated contract with an extension function, and rotate one multisig signer. Voting ends on July 6.
    • Frax DAO is voting to allocate 42,000 wFRAX over six months to fund the EchoMarket Creator & Distribution Program. Voting ends on July 6.
    • Nexus Mutual DAO is voting on a proposal to approve a 12-month budget of 1,108,875 USDC and 6,930 wNXM for its active DAO teams to fund operations, marketing, product development, and risk management through July 2027. Voting ends on July 9.
    • Arbitrum DAO is voting on a proposal to establish the Fast Feed, a paid, low-latency data stream providing early access to sequenced transaction data on Arbitrum One. Voting ends on July 9.
  • Unlocks
    • July 6: Hyperliquid (HYPE) to unlock 0.2% of its circulating supply worth $30.39 million.
    • July 11: Rain (RAIN) to unlock 7.64% of its circulating supply worth $786.9 million.
    • July 12: PUMP$0.001611 to unlock 29.12% of its circulating supply worth $130.2 million.
  • Token Launches

Conferences

Coinbase AI alert draws backlash after pushing World Cup result before kickoff

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Coinbase AI alert draws backlash after pushing World Cup result before kickoff

Coinbase (COIN) sent users a false “breaking news” alert saying Norway’s soccer team beat Brazil 3-2 in a World Cup knockout match before the game had even started.

The alert said Erling Haaland scored twice in the match at MetLife Stadium. Coinbase’s own prediction-market page still listed the game as weather-delayed at the time.

Users posted screenshots of the notification on X on Sunday. Coinbase CEO Brian Armstrong replied to one saying he was looking into it with the team. According to one post, the alert was sent at 10:26 a.m. ET. The match didn’t start until 4 p.m.

Max Branzburg, the company’s head of consumer & business products, later clarified that the incorrect story was fixed and the firm “made some updates to avoid these types of inaccuracies in the future.”

“It’s awesome to see the power of AI-enabled 24/7 insights for trading, but obviously still need to tune it to address these types of issues,” Branzburg wrote on X.

The actual match did see Norway beat Brazil, and Haaland scored twice. The final score was 2-1.

JPMorgan’s JLTXX Tokenized Money Market Fund AUM Grows 250% in a Month on Ethereum

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JPMorgan’s JLTXX Tokenized Money Market Fund AUM Grows 250% in a Month on Ethereum

JPMorgan’s JLTXX tokenized money market fund has grown its onchain assets under management by roughly 250% over the past month, according to data platform Token Terminal. The bank runs the fund exclusively on Ethereum. JLTXX, formally the OnChain Liquidity Token Money Market Fund, launched May 13…

JPMorgan’s JLTXX tokenized money market fund has grown its onchain assets under management by roughly 250% over the past month, according to data platform Token Terminal. The bank runs the fund exclusively on Ethereum.

JLTXX, formally the OnChain Liquidity Token Money Market Fund, launched May 13 with JPMorgan seeding it with $100 million of its own capital, according to a thread from ethereuminsti. Other launch investors brought day-one total value locked to $200 million. Seven weeks later, TVL reached $695 million, a 248% increase, the thread said, a figure consistent with Token Terminal’s roughly 250% estimate.

JLTXX’s growth partly reflects its use as reserve backing for stablecoins. Dune’s analytics account said the fund’s addition to USDG’s reserves, alongside BlackRock’s BUIDL and Superstate’s STBXX, points to rising institutional demand for onchain Treasury exposure that complies with the GENIUS Act, the U.S. stablecoin law that sets eligibility rules for reserve assets.

Second Filing in May

The Defiant previously reported that JPMorgan filed for the fund on May 13, roughly three weeks after Morgan Stanley launched its own Stablecoin Reserves Portfolio, as banks compete to supply compliant reserve assets to stablecoin issuers.

Ethereum remains the only blockchain available to JLTXX investors, per ethereuminsti, even as JPMorgan operates its own private Kinexys network for other settlement activity. The fund’s growth adds to a broader push by banks and asset managers, including BlackRock and Fidelity, to bring money market products onchain as stablecoin issuers seek yield-bearing, regulation-compliant collateral.

No exact current AUM figure has been published by JPMorgan itself; the $695 million and 248%-250% growth figures come from third-party onchain trackers Token Terminal and Dune, which independently arrived at consistent numbers.

Trump-Backed American Bitcoin (ABTC) Pushes Treasury Past 8,000 BTC

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Trump-Backed American Bitcoin (ABTC) Pushes Treasury Past 8,000 BTC

American Bitcoin Corp (Nasdaq: ABTC) has moved its treasury past 8,000 bitcoin, the company said. The total marks a climb from about 5,401 BTC at the end of 2025, a gain of close to 50% across six months.

The company, a majority-owned subsidiary of Hut 8 Corp and backed by the Trump family, said its bitcoin reserve and its bitcoin-per-share have grown close to threefold since its Nasdaq debut. Co-founder Eric Trump has framed the growth as disciplined and large in scale.

American Bitcoin builds its stack through two channels: mining production and treasury purchases. In the first quarter of 2026, the firm mined 817 BTC and added 1,620 BTC to its reserve, a rise of about 30 percent in three months. That pace has carried into the summer.

Mining capacity has grown to match the treasury ambitions. In March, the company deployed 11,298 ASIC miners at its site in Drumheller, Alberta, a move that lifted capacity by about 12 percent and added 3.05 EH/s. The cost to mine a single bitcoin fell to about $36,200 in the first quarter, a drop of 23 percent from $46,900 in the prior quarter.

The financial picture remains mixed. American Bitcoin reported a net loss of $81.8 million for the first quarter on revenue of $62.1 million, a result that reflects a wider crypto market decline and the heavy spending behind its expansion.