South Korean internet giant Kakao has established a stablecoin task force, according to a report from Bijie.com. Kakao CEO Shina Chung, Kakao Pay CEO Shin Won-keun, and Kakao Bank CEO Yoon Ho-young will attend weekly meetings to discuss various aspects of the project and its tasks. Other subsidiaries, including Kakao Games, are expected to join in the future. Furthermore, a working group has been established, comprised of grassroots employees from each subsidiary, to advance the proposed agenda.

According to Coinnet, South Korean stocks posted their biggest single-day gain in nearly a month on Tuesday, as hopes of a US interest rate cut spurred risk appetite in global financial markets. South Korea's benchmark KOSPI index closed up 50.25 points, or 1.60%, at 3,198.00, its largest percentage gain since July 8. Of the 934 traded stocks, 687 advanced and 190 declined. Foreign capital saw a net inflow of 291.9 billion won (US$210.31 million). Samsung Securities analysts said the probability of a September Federal Reserve rate cut was nearly 100%, contributing to the market's rally.

According to a report by Bijie.com, economist and cryptocurrency critic Peter Schiff tweeted that a September rate cut isn't a sure thing, as inflation data released between now and the next Federal Reserve meeting could be higher than expected. The fact that the market has rallied on expectations of a rate cut actually makes a cut less likely. Stronger inflationary pressures will outweigh the impact of slower job growth.

According to a report by Bijie.com earlier this week, multiple social media posts claimed that James Howells, an IT engineer in Newport, UK, had officially ended his search for 8,000 lost BTC. James Howells told The Block via private message on the social platform X: "No, I haven't 'given up.' The stories circulating are partially true, but not in the way they've been portrayed." Howells explained that on July 1st, he formally submitted an offer to Newport City Council's leadership, legal team, and a councillor to acquire and excavate the Newport landfill, valued at between $33 million and $40 million. To raise funds for the acquisition, Howells had announced plans to launch an Ordinals-based token in October, representing 21% of the value of the lost wallet. According to Howells, despite the substantial offer, Newport has not responded to or acknowledged receipt of the offer. So, if they aren't selling, there's no point in purchasing the landfill through a token sale. I am no longer pursuing the acquisition, no longer moving forward with excavation or restoration efforts, and no longer engaging in dialogue with the City Council or its representatives. Howells stated that he had merely "shifted" his strategy but had not given up on recovering the lost Bitcoin, as he remained the legal owner of the 8,000 BTC, citing a High Court ruling from January of this year. The city council may own the hard drive, but they do not own the digital contents on it—the 8,000 Bitcoins are legally mine, and anyone in the world can verify their balance at any time. Howells stated that he now plans to tokenize his legal ownership of the lost 8,000 BTC by issuing a Bitcoin Layer 2 smart token called CeiniogCoin (INI). This token will take advantage of an upcoming network upgrade that will remove the 80-byte limit on the OP_RETURN opcode in Bitcoin transactions, freeing up more space for functionality. The token is expected to launch after October, with an ICO planned for later this year.

According to Crowdfundinsider, Remitly, a Seattle-based digital remittance service, announced it will adopt a stablecoin to enhance its international remittance capabilities. The company plans to use blockchain technology to provide faster and more cost-effective cross-border payment solutions to its customers in over 170 countries. CEO Matt Oppenheimer stated at the JPMorgan Chase 2025 conference that this is part of the company's overall strategy to enhance customer experience and operational efficiency.