Political dynamics have sparked interest in the financial markets. Trump recently stated that current Treasury Secretary Mnuchin will not be a candidate for the chair of the Fed. Although Trump has a positive view of Mnuchin personally, he has been excluded from the list of candidates given his inclination to continue holding a key position at the Treasury. Currently, Trump is considering four potential replacements, including his economic advisor Kevin Hassett and former member of the Federal Reserve Board of Governors, Kevin Warsh, while the identities of the other two candidates remain undisclosed.

Meanwhile, the cryptocurrency sector is also welcoming significant developments. According to reports, the office of the Vice President of Indonesia has invited representatives from the Bitcoin community to discuss the possibility of incorporating Bitcoin into the national reserve assets. If implemented, this initiative could have a profound impact on the mainstreaming process of cryptocurrencies.

In terms of market performance, Nasdaq-listed company Galaxy Digital released its second quarter financial report for the period ending June 30, 2025. The report shows that the company achieved a net income of $30.7 million for the quarter, with a total equity value of $2.6 billion and held approximately $1.2 billion in cash and stablecoins. During the quarter, the company completed over 80,000 Bitcoin transactions for clients, and the adjusted gross profit from digital asset operations reached $71.4 million, a 10% increase quarter-over-quarter. Notably, Galaxy Digital increased its Bitcoin holdings by 4,272 coins during this quarter, bringing its total Bitcoin holdings to 17,102 coins by the end of June.

These developments reflect the ongoing integration of traditional finance and the cryptocurrency sector, as well as the increasing attention of governments and large institutions towards digital assets. As more countries and institutions begin to consider incorporating cryptocurrencies like Bitcoin into their asset allocations, we may see digital currencies play a more significant role in the global financial system. However, this process still faces numerous regulatory and technical challenges, requiring ongoing efforts and collaboration from all parties.