Compiled by: Nona
Fear and Greed Index: 68 (Greed)
Bitcoin Price: $119,042
BTC/ETH Spot ETF Fund Flow (7.15)
BTC Net Inflow: $402.99 M
ETH Net Inflow: $192.33 M
Regulation/Macroeconomics
Governor of the Bank of Ghana: Ghana is finalizing a regulatory framework for cryptocurrency trading.
Johnson Asiama, Governor of the Bank of Ghana, stated that Ghana is finalizing a regulatory framework for cryptocurrency trading to bring exchanges and other digital asset platforms under formal regulation. He said, 'In fact, cryptocurrency has a significant impact in Ghana. We can turn a blind eye, but the reality is that it is having an effect.' He noted that regulation will enable the central bank to bring virtual currencies under its anti-money laundering and counter-terrorism financing rules, ensuring that digital innovation supports rather than undermines foreign exchange controls and monetary stability.
The UK releases a digital strategy for wholesale financial markets, promoting DLT and stablecoin innovation.
The UK government has announced a digital strategy for wholesale financial markets, clearly supporting the application of distributed ledger technology (DLT) and asset tokenization in the wholesale financial sector. The strategy proposes that the government will promote the industry to identify the best application scenarios for DLT, support the tokenization of financial assets and the digitization of post-trade processes, and test various digital payment solutions including stablecoins through a 'digital securities sandbox'. Additionally, the UK will improve relevant legislation and regulatory frameworks, encouraging the industry to form cross-market alliances to drive digital innovation and consolidate its leading position in global fintech.
Trump: Has met with 11 members of Congress to discuss passing the 'GENIUS Act' legislative rules.
Trump posted on Truth Social that he had met with 11 members of Congress in the Oval Office to discuss passing the 'GENIUS Act' legislative rules, and there was unanimous agreement to support the rules the next morning. Reports this morning indicated that the House failed to pass the procedural vote on the cryptocurrency bill, which may be re-voted on Wednesday.
Project/Company Updates
BigONE: Suffered a supply chain attack with losses exceeding $27 million and will fully bear all losses.
Cryptocurrency exchange BigONE tweeted that hackers have breached the hot wallet. All assets are safe, and the company will fully bear all losses. Trading and deposit functions are about to resume, while withdrawal functions will be restored after security upgrades. According to monitoring by blockchain security firm Slow Mist, BigONE suffered a supply chain attack, losing over $27 million. Its production network was compromised, and the attackers modified the operation logic related to account and risk control servers, allowing them to extract funds, fortunately, the private keys were not leaked.
Silicon Valley venture capital mogul Peter Thiel has acquired 9.1% of the Ethereum strategic reserve company BitMine.
Documents from the U.S. Securities and Exchange Commission (SEC) show that Peter Thiel, co-founder of PayPal and Silicon Valley venture capital mogul, has acquired 9.1% of BitMine Immersion Technologies. BitMine was originally a Bitcoin mining company but has now transformed into an Ethereum strategic reserve company, having disclosed on July 14 that it holds 163,142 Ethereum, valued at over $500 million.
SharpLink Gaming raised approximately $413 million last week, all of which will be used to increase its Ethereum holdings.
Public company SharpLink Gaming Inc. (SBET) tweeted that, in addition to becoming the largest holder of Ethereum among corporate entities, SharpLink raised approximately $413 million in net proceeds through its ATM program from July 7 to 11. Of this, about $156 million has been used to purchase Ethereum, while the remaining approximately $257 million can be used for future Ethereum acquisitions. SharpLink Gaming again purchased 5,188 Ethereum through Coinbase Prime 10 hours ago. Since the start of this strategy in early June, it has accumulated a total of 300,000 Ethereum.
JPMorgan and Citigroup are considering entering the stablecoin market.
During the 'Cryptocurrency Week' in the U.S. Congress, JPMorgan and Citigroup both indicated that they are considering entering the stablecoin market. JPMorgan CEO Jamie Dimon stated that the bank will participate in 'JPMorgan Deposit Coin' and stablecoin-related businesses, exploring their potential in the payment sector. On the same day, Citigroup CEO Jane Fraser also stated that they are researching the issuance of a 'Citi Stablecoin' and mentioned that their tokenized deposit business has been 'very active'. (The Wall Street Journal) In May of this year, it was reported that major commercial banks like JPMorgan, Bank of America, Citigroup, and Wells Fargo are discussing jointly issuing stablecoins to respond to the increasing competition in the crypto industry.
The U.S. House of Representatives failed to pass the procedural vote on the cryptocurrency bill, which may be re-voted on Wednesday.
The U.S. House of Representatives' procedural vote on cryptocurrency-related bills failed. Earlier, Fox News reported that the House planned to attempt another vote on the rules for cryptocurrency-related bills around 5:00 PM Eastern Time. The President was 'angry' and was communicating with those lawmakers blocking the cryptocurrency bill from proceeding. However, the Democratic whip later stated that there were no additional plans for a cryptocurrency bill vote today. House Speaker Johnson expressed hope to try for procedural voting on the cryptocurrency bill again on Wednesday.
In-depth & Outlook
From debuting on NASDAQ to the 'Head Swap Trend': The concentrated marketing of Pudgy Penguins has driven PENGU to three consecutive weeks of gains.
Behind PENGU's three consecutive weeks of gains is not only the result of Pudgy Penguins' recent concentrated marketing but also a reflection of its long-term business layout and precise strategy.
'Crypto Week' suddenly encounters a setback: The House unexpectedly 'stalls', Trump's call fails.
Tuesday's vote resulted in 196 votes in favor and 223 votes against. Among them, 13 Republican members joined Democrats in voting against, collectively blocking the procedural motion to debate and advance the decision bill. This means that unless the House again passes the relevant rules, these bills carrying the hopes of the industry will not enter substantive debate.
Opinions
Wu discussed with Hong Kong legislator Qiu Datgen: Detailed explanation of Hong Kong's cryptocurrency regulatory logic, will it be too conservative? Will it be the next Singapore?
Representative Qiu elaborated on his understanding and promotion logic of Web3 and the cryptocurrency industry, reflecting on his personal journey from tech venture capital to supporting blockchain development. He emphasized the importance of blockchain technology and explained the evolution of Hong Kong from a 'tolerant experiment' to formulating clear regulatory policies, believing that a robust regulatory strategy helps enhance market confidence and avoids short-term speculation harming Hong Kong's financial brand.
An OG whale awakens, with Wall Street's inflow exceeding $3.6 billion in July, Bitcoin reaches new highs without triggering retail FOMO.
An OG whale holding 80,000 Bitcoins awakens, and Wall Street sees a net inflow of over $3.6 billion in July. Bitcoin reaches new highs without triggering retail FOMO, and leverage remains at historically low levels.
