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On July 7, the U.S. Bureau of Economic Analysis (BEA) announced that it will adjust certain calculation methods for the Personal Consumption Expenditures Price Index (PCE), an inflation indicator heavily relied upon by the Federal Reserve. These changes are expected to be reflected in data revisions published on September 30, 2026, potentially making inflation readings later this year appear slightly lower. 
Market estimates suggest that this adjustment could lower the core PCE inflation rate by about 0.2 percentage points. Current data shows that the core PCE inflation rate was 3.4% over the past 12 months ending in May 2026, remaining above the Fed's 2% target since March 2021. 
The BEA is primarily adjusting price calculations in three specific areas: portfolio management and investment advisory services, computer software and accessories, and legal services. 
For example, in asset management services, the current statistical method often directly follows market performance fluctuations rather than reflecting true price changes. For instance, when an investor pays a fixed 1% management fee and their portfolio rises by 20%, this is recorded as a 20% increase in the price of asset management services. 
Former Fed Governor Milan noted in a speech last December, "What should have been recorded as an increase in the quantity of services consumed has been recorded as a price increase." 
In the realm of software and technology products, Milan, along with Fed economists Alessandro Barbarino and Anthony M. Diercks, published a paper in May this year analyzing the shortcomings of existing statistical methods, including measurement issues for products like portable storage devices and video games. 
J.P. Morgan economist Abiel Reinhart even joked, "Grand Theft Auto VI may also have a chance to influence the U.S. Treasury yield curve." 
Although these adjustments are methodologically sound and will help more accurately reflect price changes in the long term, their timing is sensitive and has sparked discussions about the independence of statistics.

[Changes to U.S. PCE Calculation Method May Cool Fed's Preferred Inflation Indicator]On July 7, the U.S. Bureau of Economic Analysis (BEA) announced that it will adjust certain calculation methods for the Personal Consumption Expenditures Price Index (PCE), an inflation indicator heavily relied upon by the Federal Reserve. These changes are expected to be reflected in data revisions published on September 30, 2026, potentially making inflation readings later this year appear slightly lower. 
Market estimates suggest that this adjustment could lower the core PCE inflation rate by about 0.2 percentage points. Current data shows that the core PCE inflation rate was 3.4% over the past 12 months ending in May 2026, remaining above the Fed's 2% target since March 2021. 
The BEA is primarily adjusting price calculations in three specific areas: portfolio management and investment advisory services, computer software and accessories, and legal services. 
For example, in asset management services, the current statistical method often directly follows market performance fluctuations rather than reflecting true price changes. For instance, when an investor pays a fixed 1% management fee and their portfolio rises by 20%, this is recorded as a 20% increase in the price of asset management services. 
Former Fed Governor Milan noted in a speech last December, "What should have been recorded as an increase in the quantity of services consumed has been recorded as a price increase." 
In the realm of software and technology products, Milan, along with Fed economists Alessandro Barbarino and Anthony M. Diercks, published a paper in May this year analyzing the shortcomings of existing statistical methods, including measurement issues for products like portable storage devices and video games. 
J.P. Morgan economist Abiel Reinhart even joked, "Grand Theft Auto VI may also have a chance to influence the U.S. Treasury yield curve." 
Although these adjustments are methodologically sound and will help more accurately reflect price changes in the long term, their timing is sensitive and has sparked discussions about the independence of statistics.

Changes to U.S. PCE Calculation Method May Cool Fed's Preferred Inflation Indicator

On July 7, according to AXIOS, a U.S. official stated that Iran fired at least two missiles at ships in the Strait of Hormuz. Two commercial vessels were hit and severely damaged, but there were no casualties.

[Iran Fires at Least Two Missiles at Ships in the Strait of Hormuz]On July 7, according to AXIOS, a U.S. official stated that Iran fired at least two missiles at ships in the Strait of Hormuz. Two commercial vessels were hit and severely damaged, but there were no casualties.

Iran Fires at Least Two Missiles at Ships in the Strait of Hormuz

On July 7, according to monitoring by Onchain Lens, a whale spent 850 WETH (worth $1.52 million) to purchase 572,929 LIT in the past 24 hours. So far, this whale has acquired a total of 1.358 million LIT at an average price of $2.23, amounting to a total investment of $3.03 million.

[Whale Accumulates $1.52 Million in LIT in 24 Hours]On July 7, according to monitoring by Onchain Lens, a whale spent 850 WETH (worth $1.52 million) to purchase 572,929 LIT in the past 24 hours. So far, this whale has acquired a total of 1.358 million LIT at an average price of $2.23, amounting to a total investment of $3.03 million.

Whale Accumulates $1.52 Million in LIT in 24 Hours

On July 7, Galaxy Research reported that a second Amicus Brief has been officially submitted in a case before the New York State Supreme Court. This brief opposes 'Noah Doe's' attempt to classify Satoshi Nakamoto's Bitcoin as 'abandoned property' and assert ownership based on that classification. The brief was submitted by The Digital Chamber, with assistance from CahillNXT and attorney Palley from Brown Rudnick.

[New York Court Receives Amicus Brief Opposing Bitcoin as Abandoned Property]On July 7, Galaxy Research reported that a second Amicus Brief has been officially submitted in a case before the New York State Supreme Court. This brief opposes 'Noah Doe's' attempt to classify Satoshi Nakamoto's Bitcoin as 'abandoned property' and assert ownership based on that classification. The brief was submitted by The Digital Chamber, with assistance from CahillNXT and attorney Palley from Brown Rudnick.

New York Court Receives Amicus Brief Opposing Bitcoin as Abandoned Property

Market data shows that BTC has surpassed $64,000, currently priced at $64,007.31, with a 24-hour increase of 0.47%. The market is experiencing significant volatility, so please ensure proper risk management.

[BTC Surpasses $64,000]Market data shows that BTC has surpassed $64,000, currently priced at $64,007.31, with a 24-hour increase of 0.47%. The market is experiencing significant volatility, so please ensure proper risk management.

BTC Surpasses $64,000

On July 7, Bloomberg reported that sources revealed former Tether Chief Investment Officer Richard Heathcote is working with PJT Partners to sell part of his 1.26% stake in Tether. He is currently in discussions with potential buyers, but the valuation has not been disclosed. Previously, Richard Heathcote stepped down as Tether's Chief Investment Officer in March this year and took on an advisory role.

[Former Tether Chief Investment Officer Plans to Sell Stake]On July 7, Bloomberg reported that sources revealed former Tether Chief Investment Officer Richard Heathcote is working with PJT Partners to sell part of his 1.26% stake in Tether. He is currently in discussions with potential buyers, but the valuation has not been disclosed. Previously, Richard Heathcote stepped down as Tether's Chief Investment Officer in March this year and took on an advisory role.

Former Tether Chief Investment Officer Plans to Sell Stake

On July 7, Gabby Dizon, co-founder of the Web3 gaming guild YGG, announced on Twitter that YGG's Web3 game publishing division, YGGPlay, will close on August 1, affecting 35 jobs. The company has promised to pay an additional 8 weeks of salary. In the future, YGG will continue to operate with a small team and collaborate with the gaming community to sell data to AI labs through game interactions and data training.

[YGG's Web3 Game Publishing Division to Close on August 1]On July 7, Gabby Dizon, co-founder of the Web3 gaming guild YGG, announced on Twitter that YGG's Web3 game publishing division, YGGPlay, will close on August 1, affecting 35 jobs. The company has promised to pay an additional 8 weeks of salary. In the future, YGG will continue to operate with a small team and collaborate with the gaming community to sell data to AI labs through game interactions and data training.

YGG's Web3 Game Publishing Division to Close on August 1

On July 7, Gabby Dizon, co-founder of the Web3 gaming guild YGG, announced on Twitter that YGG's Web3 game publishing division, YGG Play, will close on August 1, affecting 35 jobs. The company has committed to providing an additional 8 weeks of salary. Moving forward, YGG will continue to operate with a small team and collaborate with the gaming community to sell data to AI labs through game interactions and data training.

[YGG's Web3 Game Publishing Division to Close on August 1]On July 7, Gabby Dizon, co-founder of the Web3 gaming guild YGG, announced on Twitter that YGG's Web3 game publishing division, YGG Play, will close on August 1, affecting 35 jobs. The company has committed to providing an additional 8 weeks of salary. Moving forward, YGG will continue to operate with a small team and collaborate with the gaming community to sell data to AI labs through game interactions and data training.

On July 7, DeFi yield protocol Summer.fi issued a security announcement stating that an active vulnerability has been found in the Lazy Summer Protocol. To prevent risks, the Guardian has paused all vaults and set the deposit limit to zero across all networks. The team is currently assessing the situation, and the official recommendation is for users to suspend interactions with the protocol until further notice.

[Summer.fi: Active Vulnerability Found in Lazy Summer Protocol, All Vaults Paused with Deposit Limit Set to Zero]On July 7, DeFi yield protocol Summer.fi issued a security announcement stating that an active vulnerability has been found in the Lazy Summer Protocol. To prevent risks, the Guardian has paused all vaults and set the deposit limit to zero across all networks. The team is currently assessing the situation, and the official recommendation is for users to suspend interactions with the protocol until further notice.

Summer.fi: Active Vulnerability Found in Lazy Summer Protocol, All Vaults Paused with Deposit Limit Set to Zero

On July 7, Federal Reserve Governor Waller stated that the Fed will not intentionally maintain low interest rates to help the U.S. government finance its budget deficit. I believe that Fed Chair Waller is reiterating the commitment to achieving the 2% growth target; he prefers to set the inflation target as a range, but changing the target setting at this moment would lack credibility.

[Fed Governor Waller: The Fed Will Not Keep Low Rates to Finance Government Deficits]On July 7, Federal Reserve Governor Waller stated that the Fed will not intentionally maintain low interest rates to help the U.S. government finance its budget deficit. I believe that Fed Chair Waller is reiterating the commitment to achieving the 2% growth target; he prefers to set the inflation target as a range, but changing the target setting at this moment would lack credibility.

Fed Governor Waller: The Fed Will Not Keep Low Rates to Finance Government Deficits

US CFTC Launches Broad Investigation into Polymarket, Is the Prediction Market Party Coming to an End?

How Collector Crypt Uses 'Recirculating Buybacks' to Create an Illusion of Growth

Just Now, Anthropic Discovers Claude's 'Consciousness-like Workspace', The Mysterious J-Space Holds Unspoken Thoughts

Finding the Next Wang Tao

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MetaMask Probe Closure Gives Ethereum Wallet Builders Breathing Room

MakerDAO Endgame Timeline Puts DAI’s Next Identity Shift On The Clock

DEXE rallies as trading volume jumps 200%—Can it break $30 next?

Fed Governor Waller: The Fed Will Not Keep Low Rates to Finance Government Deficits

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