Welcome to the 20th issue of mb.insider. Every week, we break down key updates on the crypto market and the mb.io ecosystem. No noise. Just what matters. As an Insider, you get this news first!
Market updates
CPI looked soft. The rally it triggered might not be real.
June CPI cooled to 3.9%, and crypto rallied 3.2% anyway, with BTC at $64,600. But core inflation, the number the Fed actually tracks, held at a sticky 2.9%, so the relief may already be stale.
Swift didn’t wait for crypto. It built its own rails.
Swift went live July 9 with 17 major banks, HSBC, UBS, Wells Fargo, and Citi among them, settling cross-border payments on its own blockchain ledger. No crypto exchange needed, and tokenized stocks are now growing 40x faster than tokenized Treasuries.
Japan passed its crypto bill today. The tax cut won’t land until 2028.
Japan’s Upper House passed a bill today cutting the top crypto tax rate from 55% to 20% and opening a path to spot ETFs. Neither is immediate, the tax cut lands in 2028 and ETFs not before 2027, but it’s more progress in one bill than the CLARITY Act has made all year.
The market at a glance
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BTC: ~$64,600
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ETH: ~$1,890
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XRP: ~$1.11
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SOL: ~$76
Fear & Greed stays in Extreme Fear even after today's 3.2% rally, and core inflation is still stuck at 2.9%. Swift and Japan both made real crypto moves today. Most of the upside just hasn't landed yet.
That’s all for this week. See you next week!
