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EthSystems launched Tuesday as the third Ethereum Foundation spin-out this summer and its first for-profit firm. Mo Jalil, Oskar Thorén, and Aaryamann Challani founded the company after leading the Foundation's Institutional Privacy Task Force. Bitmine Immersion Technologies, Sharplink, Joe Lubin, and SNZ funded the company.

Japan's parliament passed revisions that classify crypto assets as financial assets under the Financial Instruments and Exchange Act and raise some unregistered-operator prison penalties from three years to 10 years. The rules shift oversight away from the Payment Services Act and add insider trading restrictions for issuers, exchanges and other market participants. Insider trading violations could bring up to five years in prison, fines of up to 5 million yen, or both.

Bitcoin held near a three-week high after touching $65,200, while U.S.-Iran hostilities capped gains from a softer-than-expected U.S. inflation report. Ether stayed 5% higher over 24 hours after reaching $1,895 on Tuesday. CoinMarketCap's Altcoin Season indicator fell to 46/100 as strength stayed concentrated in major cryptocurrencies.

U.S. Central Command said its forces began a series of strikes against Iran at 6:00 a.m. Eastern Time today. The strikes aim to further degrade military capabilities used by the Iranian military to attack commercial shipping in the Strait of Hormuz. The announcement also gave 18:00 Beijing Time as the parallel start time.

White House Council of Economic Advisers Chairman Hassett said all 67 economists surveyed by Bloomberg missed the June CPI report. Hassett said June CPI fell 0.4% month over month. Hassett described the move as the largest monthly decline in six years and attributed it to cost-cutting measures by U.S. President Donald Trump.