Compiled by: Nona
Fear and Greed Index: 70 (Greed)
Bitcoin Price: $116,761
BTC/ETH Spot ETF Fund Flow (7.14)
BTC Net Inflow: $297.40 M
ETH Net Inflow: $259.04 M
Regulatory/Macro
Kazakhstan plans to allocate its gold foreign exchange reserves and national fund assets to crypto assets.
Kazakhstan's central bank governor Timur Suleimenov stated that the country plans to allocate its gold foreign exchange reserves and national fund assets to crypto assets. He cautioned that such assets have high returns but also significant volatility, so one should not act too hastily. Additionally, Kazakhstan hopes to establish a national reserve of crypto assets to store seized digital assets. If individual enterprises mine crypto assets on behalf of the state, some assets may enter the crypto reserves in the form of taxes or mandatory payments. Similar cases have already appeared in international practice.
Insiders: The CLARITY Act and the GENIUS Act will be voted on Wednesday and Thursday respectively.
The preliminary agenda for the U.S. House of Representatives' "Crypto Week" includes a vote on the CLARITY Act (Digital Asset Market Clarification Act) on Wednesday and a vote on the GENIUS Act (Stablecoin Innovation and Guidance Act) on Thursday morning.
Project/Company Dynamics
Insiders: Backpack will open debt claim channels for Chinese and Russian FTX users.
Crypto KOL AB Kuai.Dong cited multiple sources on Twitter, stating that Backpack will open a bond market to accept debt claims from Chinese and Russian users previously denied by FTX. This feature is expected to launch soon, requiring users to sync their FTX account information with Backpack to initiate claims. AB Kuai.Dong noted that in January, after acquiring FTX Europe, Backpack handled compensation for European FTX users' debt claims, then developed a claims channel internally, announcing the first phase on April 1. Ultimately, this measure brought a large number of original FTX users to Backpack. Following the implementation of these effects, rumors circulated in the community starting in May that Backpack would need to compensate Chinese FTX users. As the product and operations approach launch, this news has been confirmed through multiple sources.
Zoomer: The unknown company Aqua 1, which donated $100 million to WLFI, has been revealed as Web3Port.
The unknown company Aqua 1, which previously donated $100 million to Trump family cryptocurrency project WLFI, has been revealed as a malicious market maker Web3Port. Aqua1 co-founder Dave Lee stated before the news broke, "Today I discovered that some reports about me and Aqua1 contained factual errors. We have contacted relevant journalists for clarification."
Standard Chartered Bank has launched Bitcoin and Ethereum spot trading services through its UK branch.
Standard Chartered Bank provides regulated, deliverable spot Bitcoin and Ethereum trading services to institutional clients through its UK branch. Standard Chartered stated that this move makes it the first global bank to offer spot Bitcoin and Ethereum trading. The bank's global head of digital assets, Rene Michau, said: "This product is launched through the UK branch, initially offered through the UK entity during Asian and European trading hours, and we will consider providing 24/7 service as customer demand grows."
Greenland Securities has been approved for an upgrade of its Hong Kong digital asset business license.
Recently, Greenland Group's Greenland (Asia) Securities was approved for an upgrade of digital asset consulting service (VA No. 4) and digital asset portfolio management (VA No. 9) licenses by the Hong Kong Securities and Futures Commission, marking a new breakthrough for Greenland in compliance operations and the digital asset field. In the future, Greenland will leverage its licensing advantages and blockchain technology to innovate traditional asset management models and launch diversified digital asset products and services covering transactions, fund raising, etc.
The Tornado Cash founder's money laundering case is set to be heard on Monday. If all charges are established, he could face 45 years in prison.
The criminal money laundering case against Tornado Cash founder Roman Storm is set to begin on Monday morning local time. If all three charges are established, he could face up to 45 years in prison. The trial was originally scheduled for two weeks, but due to the large number of witnesses, including a hacker who used Tornado Cash, a so-called "victim" witness, and several expert witnesses, it is expected to extend for a month.
CMB International has obtained a Hong Kong virtual asset license.
CMB International officially obtained approval from the Hong Kong Securities and Futures Commission on July 14, becoming the first Chinese bank-affiliated broker in Hong Kong to obtain licenses for virtual asset trading services.
Gemini expands tokenized U.S. stock products, supporting blue-chip stocks like Nike and McDonald's.
Gemini announces the addition of several tokenized U.S. stocks, including Nike (NKE), McDonald's (MCD), Starbucks (SBUX), Coca-Cola (KO), and Yum Brands (YUM), open for trading to EU investors. This product is based on Arbitrum and is issued in collaboration with registered broker Dinari. Previously, Gemini has launched tokenized stocks for MSTR, AAPL, TSLA, etc.
Grayscale Investments has submitted an IPO registration draft to the U.S. SEC.
Grayscale Investments has submitted an initial public offering (IPO) registration draft to the U.S. Securities and Exchange Commission (SEC).
In-depth & Forward-looking
Detailed explanation of Solana RWA ecosystem: Asset size exceeds $418 million, annual growth of 140%. How has Solana become an emerging hub in the RWA market?
Asset size exceeds $418 million, annual growth of 140%. From the perspectives of on-chain assets and infrastructure, how does Solana's development trajectory as an emerging hub in the RWA market signify for the global capital market?
The fat penguin is sweeping the crypto circle, a victory of crypto elite culture.
Over the past weekend, several well-known crypto projects coincidentally changed their X avatars to a fat penguin. This seems to be an interesting social interaction, a collective recognition of the long-term spirit and brand building strategy of Pudgy Penguins. This fat penguin is also driving the grassroots crypto experiment to accelerate its entry into mainstream culture.
Opinion
Offshore RMB stablecoin is on the horizon: Can it challenge the dollar's hegemony?
The emergence of the RMB stablecoin does not mean an immediate challenge to the dollar's hegemony, but rather marks the beginning of a long-term struggle — in the vast realm of the digital economy and emerging markets, the RMB will strive for greater usage and recognition through this new vehicle of stablecoins.
The "Cryptocurrency Week" has arrived. What impact will the three major bills under review by the U.S. House of Representatives have on the industry?
As Bitcoin strongly breaks through the $123,000 mark, repeatedly setting new historical highs, the "Crypto Week" is about to kick off. What impact will the three major bills under review by the U.S. House of Representatives have on the industry?
