Overview of Important Midday Developments on July 12

7:00-12:00 Keywords: Stock Trading, Pendle, Biden, SEC

1. In the past 24 hours, the total liquidation across the network reached $148 million, mainly long positions;

2. U.S. senators reached an agreement to push for a ban on stock trading by members of Congress;

3. Pendle: The website has been shut down due to the hijacking of the Pendle domain;

4. Biden admitted to making mistakes during the debate with Trump, emphasizing that he will not withdraw from the race;

5. The U.S. SEC allows certain companies to bypass the controversial cryptocurrency accounting bulletin;

6. Macquarie: The Federal Reserve is expected to implement the first rate cut in September, previously predicted for December;

7. Sources: Banks argued in discussions with the SEC that wallets and spot Bitcoin ETFs should not fall under crypto guidelines;

8. VettaFi Research Deputy Director: After the spot Ether ETF is confirmed, more issuers will submit applications for spot Solana ETFs.