Compiled by: Nona
Fear & Greed Index: 70 (Greed)
Bitcoin Price: $119,009
BTC/ETH Spot ETF Fund Flow (7.16)
BTC Net Inflow: $799.40 M
ETH Net Inflow: $726.74 M
Regulatory/Macro
Thailand launches a cryptocurrency sandbox program, allowing foreign tourists to exchange digital assets for Thai Baht.
The Thai Securities and Exchange Commission (SEC) collaborated with the Bank of Thailand to launch a sandbox program, allowing foreign tourists to exchange digital assets for Thai Baht for consumption. All sandbox participants must comply with specific regulations, including eligibility criteria, service scope, visitor spending limits, and anti-money laundering requirements. The framework aims to ensure innovation and consumer protection in a strictly regulated environment. The service will operate in a controlled sandbox environment overseen by the SEC, the Bank of Thailand, the Anti-Money Laundering Office, and other regulatory agencies. The SEC emphasized that the sandbox is part of broader efforts to enhance the competitiveness of Thailand's tourism industry while ensuring the stability and security of the financial system.
The GENIUS Act will undergo procedural voting tomorrow, and the CLARITY Act may be voted on next week.
The GENIUS Act will undergo procedural voting tomorrow, and the CLARITY Act is expected to be voted on next week. Additionally, provisions against central bank digital currencies (CBDC) will be included in the National Defense Authorization Act (NDAA). The current vote is merely procedural and does not indicate the final passage of the bill.
U.S. House Speaker: The Republican Party agrees to promote cryptocurrency legislation.
U.S. House Speaker James Michael Johnson stated that the Republican Party agrees to promote cryptocurrency legislation.
Project/Company Updates
The Infini hacker transferred about 4,770 Ethereum to two addresses, with part of the funds laundered through Tornado Cash.
The Infini hacker has transferred 4,770 Ethereum (worth approximately $16 million) to two addresses. Among them, the address starting with 0x714 laundered 3,000 Ethereum through Tornado Cash, while the address starting with 0x762 exchanged 1,770 Ethereum for approximately $5.9 million in DAI.
Informed sources: Cryptocurrency market maker B2C2 is raising $200 million to dilute its largest shareholder SBI's stake.
Cryptocurrency market maker B2C2 is raising $200 million, part of the funds will be used to dilute the shareholding of the company's largest shareholder, SBI Holdings. Previously, SBI Financial Services (a subsidiary of SBI Holdings) acquired 90% of B2C2 in December 2020.
Wintermute founder: There is almost no Ethereum available for sale on Wintermute's OTC.
Evgeny Gaevoy, founder and CEO of Wintermute, tweeted that there is almost no Ethereum available for sale on Wintermute's OTC trading platform.
Hong Kong-listed company Yili Holdings will issue HKD 19.95 million in convertible bonds to develop Web3 business.
Hong Kong-listed Yili Holdings announced it has signed an agreement to issue convertible bonds worth HKD 19.95 million, with the raised amount to be used for developing Web3.0 business. The batch of convertible bonds is a zero-coupon six-year bond maturing in 2031, with a conversion price of HKD 0.25. Assuming all bonds are exercised and converted, up to 79.8 million new shares can be issued, accounting for 18.44% of the company's existing issued capital as of the subscription agreement date and 15.57% of the expanded issued shares after the issuance of new shares.
In-Depth & Forward-Looking
Techub News Interviews Congressman Wu: New Policies on Digital Asset Regulation and Future Potential of RWA.
The first stablecoin was born in 2015 out of the necessity for traditional finance to buy and sell Bitcoin conveniently. Nowadays, its reserve and payment functions are gradually becoming apparent. I hope that Hong Kong's stablecoin legislation and licensing can facilitate global circulation, increasing the market share by $250 billion, which is currently dominated almost entirely by the U.S. dollar, with other currencies like the Hong Kong dollar having very minimal shares.
Understanding SharpLink's path from a gambling operator to an 'ETH version of MicroStrategy.'
Why is SharpLink transforming into an Ethereum treasury enterprise? What are the important milestones on the ETH treasury strategy path? What opportunities and challenges does SharpLink face after the transformation?
Opinions
What did the companies that first implemented AI do right?
What did those companies that successfully implemented AI do right? After talking with leading industry players like Tuya Smart, Fanruan, Landray, and Gaode, we found that the key to success was carving out a path with cloud platforms—a new route from technology to scenarios to commercialization.
Web3 Compliance Discussions: How to Tax Cryptocurrency Earnings
The evolution of the global tax regulatory framework is indeed struggling to keep pace with the rapid development of technology and industry. Regulation has been trying to catch up, but industry changes and technological innovations are always ahead. This state of 'catching up' may persist for a long time, and there will always be a dynamic balance between regulation and industry.
