According to a Bloomberg report on July 10th, Polymarket is seeking regulatory approval to legally offer margin trading in the United States. If approved, users will be able to bet on event outcomes with less upfront capital, which would also help the prediction market platform attract more sophisticated traders.

According to a filing submitted to the National Futures Association on July 3, Polymarket, through its affiliate Coming Home GBA LLC, has applied for registration as a Futures Commission Merchant (FCM). In addition, Polymarket needs approval from the Commodity Futures Trading Commission to amend its rulebook to allow for non-fully-collateralized trading.

According to BlockBeats, on July 10, Federal Reserve Chairman Kevin Warsh formed five working groups to conduct a comprehensive review of the Fed's monetary policy mechanisms, covering areas such as balance sheet management, policy tools, and the impact of artificial intelligence. The Fed stated that each working group will operate independently, conduct fact-based research, and submit rigorous analysis results to the Federal Open Market Committee. The working groups will assess whether there is room for improvement in policy tools, analytical methods, and policy frameworks. The review team includes several prominent economists and former central bank officials.

Among the executives, Harvard economist Raj Chetty will co-lead the data task force, technology investor Marc Andreessen will head the productivity and employment task force, and former White House Council of Economic Advisers Chairman Greg Mankiw will co-lead the inflation task force. Warsh stated that the U.S. economy has undergone tremendous changes in the past generation, and the current transformation is proceeding at an even faster pace. The Federal Reserve needs to ensure it is in optimal condition to achieve its dual mandate of price stability and job creation. (Jinshi)

According to BlockBeats, on July 10th, Juan Leon, Senior Investment Strategist at Bitwise, stated that the current Bitcoin bear market is fundamentally different from previous cycles. Institutional adoption is increasing, while the market is simultaneously affected by the AI boom, macroeconomic uncertainty, and delays in US crypto legislation. Bitwise's institutional clients can be broadly divided into two groups: investors who have already allocated Bitcoin over the past two years and see this downturn as a rebalancing and dollar-cost averaging opportunity; and another group of large funds that are still waiting for a clearer regulatory framework. He stated, "In 2022, clients were asking if cryptocurrencies could survive; in 2026, they're asking about entry points and position sizes. It's a completely different conversation."

Leon believes the current decline is the "most structurally mild bear market" in Bitcoin's recorded history, with a pullback of about 50% from the high, lower than the 78% drop in the 2022 bear market and the 84% drop in 2018. He stated that the bottoms of each Bitcoin cycle are rising, reflecting the asset's increasing maturity and a shift in marginal holders from retail speculators to professional asset allocators.

However, Leon also acknowledged that Bitcoin could still fall further, as bear markets typically last about 12 to 13 months, while this one has currently lasted about 8 months. He pointed out that some traditional bottoming signals have begun to appear, including oversold momentum indicators, about half of Bitcoin holders being at a loss, long-term holders reaccumulating, and record outflows from spot Bitcoin ETFs in June. The current problems in the crypto market are more macroeconomic than fundamental.

Leon also stated that the AI boom has attracted billions of dollars that could have otherwise flowed into the crypto market. Since April, memory chip ETFs have attracted approximately $12 billion in inflows, while spot Bitcoin ETFs have seen outflows of over $4 billion. As AI capital expenditure expectations are priced in by the market and relative valuations shrink, investors may seek out assets that have fallen 50% from their highs and have improving fundamentals. He also believes that AI and crypto will gradually become complementary, with intelligent AI agents potentially relying on programmable money, machine-to-machine payments, and stablecoins.

According to BlockBeats, on July 10, SK Hynix announced plans to raise 40 trillion won (approximately US$26.5 billion) in its ADR listing, up from the previous estimate of 43 trillion won.