Compiled by: Nona
Fear and Greed Index: 67 (Greed)
Bitcoin Price: $118,004
BTC/ETH Spot ETF Capital Flow (7.10)
BTC Net Inflow: $1.18 B
ETH Net Inflow: $383.10 M
Regulation/Macro
China and Egypt sign a memorandum of understanding to promote local currency settlement and cooperation in areas such as central bank digital currency.
On July 10, in the presence of Chinese Premier Li Qiang and Egyptian Prime Minister Madbouli, Pan Gongsheng, Governor of the People's Bank of China, signed a memorandum of understanding with Hassan Abdallah, Governor of the Central Bank of Egypt (regarding bilateral financial cooperation, promoting local currency settlement, and cooperation in central bank digital currency and digital innovation fields). This memorandum aims to strengthen bilateral financial cooperation, including business exchanges and information sharing in areas such as monetary policy frameworks, financial markets, and payment systems; enhance local currency settlement cooperation to promote the use of local currencies in the current account transactions and direct investments between the two countries; strengthen cooperation in central bank digital currency and digital innovation, including information exchange and project cooperation. This arrangement helps to strengthen communication and policy coordination in the respective fields and create a better environment for further unlocking the potential of financial cooperation between the two countries.
The State Bank of Pakistan is preparing to launch a digital currency pilot and finalize regulations for virtual asset oversight.
Jameel Ahmad, the governor of the State Bank of Pakistan, stated that the State Bank of Pakistan is preparing to launch a digital currency pilot and is finalizing legislation to regulate virtual assets. Previously, the Pakistani government established the Pakistan Virtual Asset Regulatory Authority (PVARA), which will serve as an independent regulatory body for virtual asset service providers (VASP), responsible for licensing, monitoring, and supervision to ensure compliance with the Financial Action Task Force (FATF) guidelines and international best practices.
Former Vice Minister of Finance of China Zhu Guangyao: The U.S. is trying to use stablecoins to initiate the third phase of the Bretton Woods system.
Regarding the impact of digital currencies, especially stablecoins, on the global monetary system, former Vice Minister of Finance Zhu Guangyao stated at the June 26, 2025 China International Issues Forum 'World Order and China's Foreign Strategy in Times of Turmoil and Change' that the U.S. is attempting to initiate the 'third phase' of the Bretton Woods system through stablecoins to maintain and consolidate the status of the U.S. dollar as the international reserve currency.
Shanghai State-owned Assets Supervision and Administration Commission held a central group study meeting on the development trends and response strategies of cryptocurrencies and stablecoins.
On July 10, the CPC Committee of Shanghai State-owned Assets Supervision and Administration Commission held a central group study meeting focusing on the development trends and response strategies of cryptocurrencies and stablecoins. He Qing, Secretary of the CPC Committee and Director of the Shanghai State-owned Assets Supervision and Administration Commission, pointed out the need to thoroughly implement the spirit of the 7th Plenary Session of the 12th Municipal Party Committee, adhere to innovation-driven development, maintain keen awareness of emerging technologies, and strengthen research and exploration of digital currencies. It is necessary to adhere to the integration of production and data, exploring the application of blockchain technology in areas such as cross-border trade, supply chain finance, and asset digitization. It is also important to be proactive, improve strategic agility and initiative, further promote the deep integration of technology, finance, and industry, better leverage the important role of state-owned assets and enterprises in technological innovation, industrial control, and safety support, and make new and greater contributions to Shanghai's 'Five Centers' construction.
Trump: Cryptocurrency 'has broken the ceiling,' the U.S. is imposing hundreds of billions of dollars in tariffs.
U.S. President Trump stated on social media: Tech stocks, industrial stocks, and the NASDAQ index hit all-time highs! Cryptocurrency 'has broken the ceiling.' Since Trump's tariffs, Nvidia's stock price has increased by 47%. The U.S. is imposing hundreds of billions of dollars in tariffs. The nation is now 'strongly returning.' The Federal Reserve should quickly lower interest rates to reflect this strength. The U.S. should be the 'first choice.' There is no inflation!
Project/Company News
U.S. publicly traded company GameSquare purchased its first $5 million in Ethereum.
U.S. publicly traded company GameSquare (NASDAQ:GAME) has completed its first purchase of $5 million in Ethereum at an average price of $2,749, totaling approximately 1,818.84 Ethereum, which is part of its $100 million ETH treasury strategy. Previously, GameSquare raised about $8 million to initiate its Ethereum fund management strategy.
GMX hacker left a message on-chain stating they will return the stolen funds.
GMX hacker sent a message on-chain to the GMX deployer's address stating, 'Funds will be returned later.' Previously, GMX had left a message for the hacker's address acknowledging the GMXVl vulnerability and was willing to offer a 10% white hat bounty, promising not to take further legal action if the remaining 90% of the funds were returned within 48 hours.
Ark Invest reduced its holdings of $6.5 million in Coinbase stock and $5.8 million in Robinhood stock.
Cathie Wood's Ark Invest reduced its holdings of $6.5 million in Coinbase stock and $5.8 million in Robinhood stock on July 10. Additionally, the fund sold 24,780 shares of Block Inc. stock, worth approximately $1.7 million based on the stock's closing price.
Cryptocurrency mining company BIT Mining plans to raise $200 million to $300 million for its Solana strategy.
Cryptocurrency mining company BIT Mining will convert its cryptocurrency holdings into Solana, planning to raise $200 million to $300 million in phases for its Solana strategy.
Robinhood launched ETH and SOL staking services in the U.S.
Robinhood officially launched ETH and SOL staking services in the U.S.
In-depth & Forward-looking
CGV: MicroStrategy's success has pushed corporate balance sheets into the programmable era.
This article systematically outlines the global corporate crypto reserve landscape, deeply analyzes the capital operation model centered around MicroStrategy, and explores the differentiated paths and potential risks of altcoin reserve companies—this experiment of 'digital assetization' led by traditional enterprises is reconstructing the future paradigm of corporate financial management.
ETH breaks through the 3000 mark, BTC hits a new high, will the altcoin season come this time?
Since the market low in April this year, no one expected that ETH, which had the most pessimistic sentiment at that time, would outperform BTC and SOL, achieving a doubling rebound to date.
Opinions
Shanghai Signal: Interpreting the new chess game of China's cryptocurrency under 'One Country, Two Systems'
This raises a core question: Why can an internal learning session of a local state-owned asset management department trigger such severe price fluctuations in global top crypto assets? What 'smart money' in the market read between the lines of this brief announcement?
The tokenized stock market has been 'hit the brakes': SEC Commissioner clarifies that tokenized securities still fall under the category of securities.
Hester Peirce emphasized in a statement: Tokenized stocks, notes, or rights 'are still securities,' requiring issuers, intermediaries, and traders to comply with current federal laws when creating, selling, or transferring these securities.
