Compiled by: Nona
Fear and Greed Index: 71 (Greed)
Bitcoin Price: $118,520
BTC/ETH Spot ETF Fund Flow (7.17)
BTC Net Inflow: $522.60 M
ETH Net Inflow: $602.02 M
Regulatory / Macro
The US House of Representatives has passed three cryptocurrency bills
On Thursday local time, the US House of Representatives passed three cryptocurrency-related legislations: the CLARITY Act, the GENIUS Act, and the anti-CBDC surveillance state act. The CLARITY Act and the anti-CBDC surveillance state act will be sent to the Senate for consideration. The GENIUS Act is expected to be signed into law by Trump on Friday local time.
Insiders: Trump plans to sign an order allowing cryptocurrencies in 401(k) retirement plans
Trump plans to sign an executive order allowing 'alternative investments' such as cryptocurrencies, gold, and private equity to be included in 401(k) retirement plans. The order will require regulators to review existing barriers to pave the way for these assets to enter professionally managed retirement funds. Trump is expected to sign the executive order as early as this week. Previously, the US Department of Labor withdrew a warning against including cryptocurrencies in investment strategies in May. As of March this year, the size of US 401(k) retirement funds was approximately $8.7 trillion.
China Academy of Industrial Internet held a seminar on 'Stablecoins and Industrial Digital Assets'
The China Academy of Industrial Internet recently held a seminar on 'Stablecoins and Industrial Digital Assets', focusing on core topics such as stablecoin policy regulation, the transformation of industrial digital assets, and the integration of RWA and industrial internet development. Representatives from companies in the financial sector, including Guosen Securities Co., Ltd., SoftBank Asia Venture Capital, and Fosun Wealth International Holdings, attended the meeting.
Project / Company Dynamics
Backpack opens the channel for FTX debt sales
Backpack has officially opened the channel for FTX debt sales. This service is a non-profit, fully neutral channel aimed at helping global FTX debt holders connect with third-party buyers to facilitate debt sales. The process includes real-name verification, debt verification, quote confirmation, and settlement payment, all without any fees from the platform. Backpack reminds users that debt sales are voluntary, and users should make decisions cautiously based on their circumstances.
Panddu Bitcoin ETF listed today in Hong Kong, reaching a maximum increase of 13%
The Panddu Bitcoin ETF (2818), issued by the licensed virtual asset management company Panddu, was listed today in Hong Kong. The investment objective of the ETF is to provide investment performance that closely reflects the price performance of the CME CF Bitcoin Index (Asia-Pacific closing price), before fees and expenses, thus providing exposure to Bitcoin value. Additionally, the ETF directly invests in Bitcoin through a virtual asset trading platform licensed by the Securities and Futures Commission, with a passive management approach, not exceeding 100% of its net asset value. The ETF opened yesterday at 8.66 HKD, peaked at 8.9 HKD, up 1.049 HKD or 13.36% compared to the indicative net asset value of approximately 7.851 HKD at 4 PM yesterday, resulting in a profit of 104.9 HKD per lot of 100 shares for investors (excluding handling fees).
In-depth & Forward-looking
Stumbling through yet the controversy remains: The political struggle behind three key bills from 'Crypto Week'
The strong intervention of the Trump administration, Fairshake's $140 million lobbying pressure, and sharp criticism from academia all highlight that this game has surpassed the nature of mere regulatory discussion. When 401(k) pensions might allocate Bitcoin, and tech giants gain the right to issue stablecoins, 'Crypto Week' may just be the prologue, with the real test gradually unfolding in market practice.
The Rise of SPACs: A New Play for Cryptocurrency Accelerators
For many founders, the SPAC route offers flexibility. Unlike the strict timelines and pricing of traditional IPOs, SPACs provide more control over narratives, forecasts, and valuation negotiations. Founders can tell a forward-looking story, develop capital plans, retain equity, and avoid the cumbersome processes of traditional VC to IPO financing.
Viewpoint
Ethereum returns? Wall Street bets, leading the new crypto bull market?
For growth investors who raise funds to invest in innovative stories with huge market potential, they are keenly aware that most AI stocks have overly high trading valuations, and other 'growth' narratives are hard to find. Even previously esteemed FAANG stocks are gradually transforming into 'compound growth' stocks that focus on quality, profit maximization, and an annualized return of around 15%.
Trump's bold move! $9 trillion in pensions about to flood the crypto market
In comparison to China's pension system, similarities lie in the aim to construct a multi-tiered security. China's 'Enterprise / Occupational Annuity' has similarities to the employer-sponsored nature of the US 401(k), while 'Personal Pensions' are closer to the self-directed investment model of IRAs. Therefore, the recent initiative to allow pension investments in the US has global implications for the public's wealth allocation mindset.
