24-hour major events in the crypto circle! A 1-minute overview of overnight market trends

Elon Musk and Donald Trump in a feud;

In the past 24 hours, the three most discussed topics across the internet were:

1. The tokenization of US stocks is irreversible! Robinhood enters on-chain US stock trading, and leading US stocks like Nvidia, Tesla, Circle, and Strategy (MSTR) are now directly tradable on-chain, raising market concerns about draining funds from the crypto circle, leading to thinner liquidity in altcoins;

2. The second round of the Musk-Trump feud has kicked off! Musk blasts the "Beautiful America Act" for promoting presidential abuse of power and threatens to form a new political party. Trump retaliates that the government efficiency department should "knock on" Musk, resulting in a 5% drop in Tesla stock;

3. The US Senate passes Trump's "Beautiful America Act," with the House of Representatives scheduled to debate and vote on the act on Wednesday. This legislation is believed to help boost asset prices, but the crypto tax incentive provisions were not included.

Here are more "not to be missed" industry updates:

1. US stocks related to cryptocurrencies saw widespread declines, with Robinhood down 1%; Coinbase down 4.3%; Strategy down 7.6%. Only Circle rose by 6.2%. US stocks still pose emotional risk, with crypto assets following suit;

2. MAV surged nearly 100% yesterday before a sudden drop, with its team-related address revealed to have deposited $5.99 million into a centralized exchange, wiping out all gains;

3. The recently hyped SOL stakeable ETF was disclosed to be a "transitional version," with liquidity incomparable to the BTC spot ETF, leading to a natural pullback in SOL;

4. The Ethereum Foundation has been transferring 1,000 #ETH to multiple addresses daily since June, with no known reasons or secondary transfers, which is purely alarming.

5. Navigant Pharma plans to acquire all shares of Conflux, causing CFX to spike over 10% temporarily, only to erase all gains. Both founders of Conflux serve as executive directors at Navigant Pharma Biotech, showing their clever maneuvering;

6. WLFI has recently hinted at a TGE, with reports benchmarking against Circle, but WLFI's valuation is only $1.452 - $1.672 billion, far below community expectations;

7. US Treasury Secretary: The Federal Reserve will definitely cut interest rates by September at the latest;

8. The SEC may be working on establishing a universal listing standard for cryptocurrency ETFs, with analysts believing this bodes well for the launch of altcoin ETFs;

9. Public companies increased their holdings of 131,000 bitcoins in the second quarter, with a holding increase of 18%, as US stocks continue to speculate on BTC reserves;

10. The first USDT-based Layer 1 network Stable has released its roadmap, making established stablecoin projects worth paying attention to;