整理：Nona
Regulatory/Macro
U.S. bankruptcy judge rules Celsius can continue its $4 billion Bitcoin lawsuit against Tether.
A U.S. bankruptcy judge ruled that Celsius Network's $4 billion lawsuit against Tether can proceed. Celsius accuses Tether of improperly liquidating its approximately 39,500 Bitcoin collateral in June 2022, violating the procedures outlined in their lending agreement, causing Celsius to incur losses exceeding $4 billion. Despite Tether's claim that U.S. courts lack jurisdiction, the judge found that Celsius's claims of breach of contract, fraudulent transfer, and priority can continue to be heard.
Hong Kong Chief Executive John Lee comments on stablecoin licensing system: Enhancing financial competitiveness.
Hong Kong Special Administrative Region Chief Executive John Lee Ka-chiu stated during a speech at the 28th anniversary celebration of the Hong Kong SAR that the city is strengthening connectivity by establishing a stablecoin licensing system, optimizing listing procedures, and enhancing financial competitiveness. Hong Kong's status as a financial center has risen to third place in the world, having introduced 84 key enterprises engaged in frontier technologies, bringing in approximately HKD 50 billion in investments.
Bloomberg: Deutsche Bank plans to launch digital asset custody services next year.
Deutsche Bank plans to launch its digital asset custody service next year and has hired the technology department of cryptocurrency exchange Bitpanda to assist in building the product. Deutsche Bank's corporate bank first announced its custody plans in 2022 and will continue to collaborate with Swiss technology provider Taurus SA to offer this service. Earlier this month, Deutsche Bank stated it is exploring stablecoins and different forms of tokenized deposits.
Eleanor Terrett: U.S. SEC is developing universal listing standards for token ETFs.
Crypto America journalist Eleanor Terrett tweeted that the U.S. SEC is coordinating with exchanges to create universal listing standards for token-based ETFs, which is currently in the early stages. Eleanor Terrett revealed that if a certain token meets these standards, the issuer might skip the 19b-4 process and directly submit an S-1 application, awaiting direct listing by the exchange after 75 days. This streamlined process is expected to save significant paperwork and repeated communication costs for issuers and the SEC. The specifics of these listing standards are not yet clear, but the market speculates that market capitalization, trading volume, and liquidity may all be considered. The SEC spokesperson declined to comment.
U.S. SEC releases new cryptocurrency ETP issuance guidelines.
The U.S. SEC's Division of Corporation Finance released an announcement outlining what cryptocurrency asset exchange-traded product (ETP) issuers must include in their filings. The guidance covers everything from how to calculate net asset value and how to select service providers to detailed descriptions of custody practices and potential conflicts of interest. The SEC stated that issuers must make targeted disclosures based on their specific structure, emphasizing the review of asset selection, custody, conflicts of interest, and ETP creation/redemption mechanisms.
Arizona Governor vetoes the 'Bitcoin Reserve' bill HB 2324.
Arizona Governor Katie Hobbs vetoes the 'Bitcoin Reserve' bill HB 2324. The bill was originally set to establish a digital asset reserve for holding digital assets obtained through criminal asset forfeiture.
U.S. SEC approves amendment to convert Grayscale's Digital Large Cap Fund into an ETF.
The U.S. Securities and Exchange Commission (SEC) approved a rule change proposal from the New York Stock Exchange Arca allowing the shares of Grayscale Digital Large Cap Fund LLC to be listed. The SEC stated that, per Section 19(b)(2) of the Exchange Act, it is now ordering the expedited approval of the proposed rule change (SR-NYSEARCA-2024-87). The fund is currently traded over-the-counter for qualified investors, primarily consisting of nearly 80% Bitcoin, about 11% ETH, with Solana, Cardano, and XRP also included at single-digit percentages.
Project/Company Updates
Norwegian mining company Green Minerals signs a $24.75 million financing agreement to increase its Bitcoin holdings.
Norwegian mining company Green Minerals announced that it has signed a structural financing agreement valued at 250 million Norwegian krone (approximately $24.75 million) to purchase more Bitcoin.
UniCredit Bank will offer BlackRock Bitcoin ETF-linked products for its professional clients.
Italy's UniCredit Bank will offer a structured product linked to BlackRock's iShares Bitcoin Trust ETF for its professional clients, featuring full loss protection. The bank plans to issue a five-year, dollar-denominated investment certificate linked to the iShares Bitcoin Trust ETF, which will provide 100% capital protection at maturity, as confirmed by the bank. The UniCredit certificates will be available to professional clients from July 1 to July 28.
Bit Digital underwriters fully exercise the greenshoe option, raising $162.9 million to purchase Ethereum.
Bit Digital (Nasdaq: BTBT) announced that its recently public offering underwriters have fully exercised the greenshoe option, purchasing an additional 11.25 million shares of common stock. After deducting expected issuance costs, the company will receive approximately $21.4 million in additional net proceeds. The public offering totaled 86.25 million shares of common stock, with total net proceeds reaching $162.9 million. The company plans to use the net proceeds from this offering to purchase Ethereum.
Derlin Holdings collaborates with Asseto to expand RWA tokenization solutions, planning to apply for a stablecoin license.
Hong Kong-listed company Derlin Holdings (01709) announced that it has signed a strategic cooperation memorandum with fintech company Asseto Fintech Limited (Asseto), which focuses on real-world asset (RWA) tokenization. Both parties plan to jointly develop RWA tokenization solutions in the Asian market and promote the adoption of compliant digital asset products and services, including stablecoin applications and DeFi integration, and plan to apply for a stablecoin license.
Important Data
Yesterday, the total net outflow from U.S. Bitcoin spot ETFs was approximately $342 million.
Yesterday (Eastern Time July 1), the total net outflow from U.S. Bitcoin spot ETFs was approximately $342 million. Fidelity ETF FBTC saw a single-day net outflow of about $173 million; Grayscale ETF GBTC had a single-day net outflow of about $120 million; Ark & 21 Shares ETF ARKB saw a single-day net outflow of about $27.03 million; Bitwise ETF BITB experienced a single-day net outflow of about $22.98 million; BlackRock ETF IBIT, Grayscale Micro ETF BTC, VanEck ETF HODL, Valkyrie ETF BRRR, Franklin ETF EZBC, Invesco Galaxy ETF BTCO, WisdomTree ETF BTCW, and Hashdex ETF DEFI had no net inflows or outflows.
Yesterday, the total net inflow to U.S. Ethereum spot ETFs was approximately $40.68 million.
Yesterday (Eastern Time July 1), the total net inflow to U.S. Ethereum spot ETFs was approximately $40.68 million. BlackRock ETF ETHA saw a single-day net inflow of about $54.84 million; Grayscale ETF ETHE had a single-day net inflow of about $9.96 million; Fidelity ETF FETH saw a single-day net outflow of about $24.11 million; Grayscale Micro ETF ETH, Bitwise ETF ETHW, VanEck ETF ETHV, Franklin ETF EZET, 21 Shares ETF CETH, and Invesco ETF QETH had no net inflows or outflows.
Data: Spot trading volume on centralized exchanges drops to $1.07 trillion, hitting a nine-month low.
In June, the spot trading volume on centralized exchanges dropped to $1.07 trillion, the lowest level in nine months. Meanwhile, trading volume on decentralized exchanges continued to rise, reaching $390 billion in June.
Navigating Pharmaceuticals surged nearly 240%, plans to acquire Conflux assets.
Hong Kong-listed company Navigating Pharmaceuticals (00399) surged significantly this morning, initially spiking nearly 240%, before gradually narrowing its gains. As of press time, it rose 62.62% to HKD 0.335, with a trading volume of HKD 24.64 million. Previously, Navigating Pharmaceuticals announced plans to acquire Conflux assets.
