Today's news tips:
1. US President Trump officially signed the stablecoin-related bill (GENIUS Act)
2. Cryptocurrency exchange Bullish applies for IPO
3. Binance: Hold at least 160 Binance Alpha Points to claim 900 ESPORTS tokens airdrop
4. Washington Post: One-fifth of senior Trump administration officials hold cryptocurrency
5.WLFI token trading is expected to start in six to eight weeks
6. SharpLink Gaming purchased another 4,904 ETH 2 hours ago, and currently has a cumulative floating profit of US$260 million
7. Binance: Hold at least 160 Binance Alpha Points to claim 900 ESPORTS tokens airdrop
8. Ethereum spot ETF had a net inflow of $402 million yesterday, continuing its net inflow for 11 consecutive days
Regulatory/Macro
US President Trump officially signed the stablecoin-related bill (GENIUS Act)
According to CCTV News, US President Trump officially signed the GENIUS Act (the Genius Act) at the White House, marking the implementation of US stablecoin regulatory legislation. In his speech, Trump said that he had signed an executive order to establish a federal "strategic bitcoin reserve" and a "national digital asset reserve." At the same time, Trump reiterated that he "will never allow the establishment of a central bank digital currency in the United States."
The U.S. House of Representatives passed the bill on the 17th with 308 votes in favor and 122 votes against. The bill aims to establish a regulatory framework for stablecoins that are "anchored" to the U.S. dollar. However, the bill has been questioned and opposed by some people. Some Democrats believe that the bill fails to provide adequate protection for consumers, national security or financial stability, and accuse the Trump family of having connections with cryptocurrencies.
Block to join S&P 500, replacing oil company Hess
According to Bloomberg, Twitter founder Jack Dorsey's payment platform Block will be included in the S&P 500 index, replacing oil company Hess.
Bloomberg: Cryptocurrency exchange Bullish files for IPO
Bullish, a digital asset exchange operator backed by billionaire Peter Thiel, has filed for an initial public offering (IPO), according to a Bloomberg report. The Cayman Islands-based company reported $80 million in digital asset sales and a net loss of about $349 million in the first quarter, compared with roughly the same sales and $105 million in the same period last year, according to documents filed with the U.S. Securities and Exchange Commission on Friday.
Charles Schwab Intends to Launch Stablecoin
According to Decrypt, Charles Schwab CEO Rick Wurster said in a earnings call on Friday that Charles Schwab hopes to issue its own stablecoin. Rick Wurster said: "Stablecoins are likely to play a role in blockchain transactions, and this is what we hope to provide." According to the conference call, the Charles Schwab team is preparing to launch Bitcoin and Ethereum ETF spot trading for customers. The brokerage giant, which manages more than $7 trillion in assets, has been cautious about adding cryptocurrency investment options to its products.
21Shares submits two cryptocurrency index ETF applications to the US SEC
According to the official announcement, 21Shares has cooperated with Teucrium ETFs to submit two cryptocurrency index ETF applications to the US SEC, namely 21Shares FTSE Crypto 10 Index ETF and 21Shares FTSE Crypto 10 ex-BTC Index ETF. They track the top ten cryptocurrencies by market value and the FTSE Crypto Index excluding Bitcoin.
Viewpoint
Washington Post: One in Five Senior Trump Administration Officials Own Cryptocurrency
According to the Washington Post, US President Trump holds a total of $51 million in virtual currency assets, and about one in five senior officials in the Trump administration holds virtual currency. An investigation into the public property declarations of about 300 senior officials in the Trump administration found that about 70 of them held virtual currency or invested in virtual currency and blockchain-related companies. As of the 3rd, the Washington Post requested all government nominees approved by the Senate to disclose financial information, and 95% of them responded. The media screened out blockchain or cryptocurrency, related wallets or companies from the officials' financial information. Officials usually only disclose the "range" of assets held rather than the exact amount, so they estimated the lowest amount within the range.
According to the investigation, the total virtual currency assets declared by senior officials of the Trump administration reached at least $193 million. The person with the highest amount of virtual currency assets was Ken Howely, the US ambassador to Denmark (co-founder of PayPal), who held up to $120 million in virtual assets. Trump ranked second, and the third place had a significantly reduced amount of virtual assets to the million-dollar level. According to statistics, Vice President J.D. Vance's virtual assets were $250,000.
JD CoinChain Technology: JD Stablecoin has not been issued, and all trading platforms JD-HKD are counterfeit
According to official news, recently, JD CoinChain Technology has noticed that someone has issued a digital currency called JD-HKD on a mainstream trading platform in the name of JD, deceiving users to participate in transactions. These deceptive behaviors not only damage the legitimate rights and interests of JD CoinChain Technology, but also cause damage to users participating in the transaction. JD CoinChain Technology has communicated with mainstream trading platforms to remove the relevant digital currencies and issued an announcement to remind users.
Here, JD CoinChain Technology also wants to remind all users: JD CoinChain Technology, as a participant in the Hong Kong Monetary Authority's stablecoin issuer sandbox, fully complies with the implementation process of Hong Kong's regulatory guidance. Before obtaining the Hong Kong stablecoin issuer license, all tokens issued with the words JD Stablecoin, JD-HKD, JD-USD, etc., to attract users to buy, and tokens issued under the name of JD or JD's partners are scams. JD will not issue any governance tokens other than JD Stablecoin. Please carefully identify and avoid participating. JD CoinChain Technology stated that it will release the latest progress in real time through its official website and mainstream media channels. Please use the JD CoinChain Technology official website as the only official channel to obtain accurate information.
Currently, JD CoinChain Technology is one of the three participants in the Hong Kong Stablecoin Issuer Sandbox. It will continue to promote the compliance implementation of the project and explore the possibility of reducing costs and improving efficiency for global corporate cross-border settlement and personal payments.
US SEC Chairman: Stablecoins fall under the purview of banking regulators
According to Jinshi, SEC Chairman Atkins said that the focus of the cryptocurrency working group is to develop clear regulatory rules, and stablecoins fall within the scope of banking regulators.
Project News
Trusta.AI (TA) will be available on Binance Alpha and Binance Futures on July 21
According to Binance's announcement, Trusta.AI (TA) will be available for trading on Binance Alpha at 07:00 (UTC) on July 21, 2025, and TAUSDT perpetual contracts will be launched at 07:30 (UTC) on the same day, with a maximum leverage of 50 times. Binance is the first platform to launch Trusta.AI (TA). To celebrate the launch, eligible users can claim exclusive airdrops on the Binance Alpha event page through Binance Alpha points from 07:00 on July 21 to 07:00 on July 22 (UTC). Trusta.AI is an identity and on-chain reputation protocol that redefines trust in the AI era.
dYdX acquires crypto social trading platform Pocket Protector, marking its first external acquisition
Decentralized derivatives exchange dYdX has completed the acquisition of crypto social trading platform Pocket Protector, which is its first external acquisition. The transaction was completed in the form of a combination of cash + DYDX tokens, and the specific amount was not disclosed. The two co-founders of Pocket Protector will join dYdX as president and head of growth respectively, and the Telegram trading robot (including copy trading function) and the 9-person technical team they developed will be incorporated into dYdX. Pocket Protector was founded last year and has raised $7 million from investors such as Electric Capital and Dragonfly.
Tether CEO: Will ensure USDT complies with (GENIUS Act) regulations, but still plans to launch a stablecoin specifically for the United States
After President Donald Trump signed the GENIUS Act, Tether CEO Paolo Ardoino said the company plans to ensure that its flagship stablecoin USDT (a token pegged to the U.S. dollar) complies with the GENIUS Act's regulations for foreign stablecoin issuers so that it can be traded in the United States. Ardoino said Tether still intends to create a U.S.-based stablecoin, but also hopes that USDT will be approved by GENIUS. He said that Tether's two products will each meet the different needs of different customers in the United States. For example, USDT may be "primarily" used as a way to remit money overseas in the United States.
The GENIUS Act requires foreign issuers to comply with strict anti-money laundering laws and undergo complex reserve audits. Tether’s reserves have never been fully audited, but Ardoino said the company plans to do so in the future.
World Liberty Financial: WLFI token trading is expected to start in six to eight weeks
World Liberty Financial announced that its governance token WLFI will begin trading within six to eight weeks from July 18, completing community authorization, authorized on-chain transfers, and secondary market access. According to the announcement, the team will use this time to finalize "strategic adjustments," such as listing on exchanges and a phased unlocking plan aimed at expanding participant participation.
Earlier on July 17, it was reported that the "WLFI Token Transferable Proposal" had been voted through.
Binance: Hold at least 160 Binance Alpha Points to claim 900 ESPORTS tokens airdrop
According to Binance's official announcement, Yooldo Games (ESPORTS) trading will start at 17:00 (UTC+8) on July 19. After trading starts, users with at least 160 Binance Alpha points can claim 900 ESPORTS tokens airdrop. First come, first served, until the airdrop pool is full or the event ends. Claiming the airdrop will consume 15 Binance Alpha points. Users must confirm the claim within 24 hours on the Alpha event page, otherwise it will be deemed to have given up the airdrop.
Important data
Bitcoin spot ETF had a net inflow of $363 million yesterday, continuing its net inflow for 12 consecutive days
Ethereum spot ETF had a net inflow of $402 million yesterday, continuing its net inflow for 11 consecutive days
Ethereum's market value surpasses Costco and ranks 29th in global asset market value
According to 8marketcap data, Ethereum's market value has reached US$437.3 billion, surpassing the membership-based warehouse retailer Costco, and ranking 29th in global asset market value.
U.S. stocks closed: the three major stock indexes rose and fell, Circle fell 4.71%, and Coinbase rose 2.2%
According to Jinshi, the US stock market closed on Friday, with the Dow Jones Industrial Average initially closing down 0.32%, the S&P 500 slightly down, and the Nasdaq slightly up 0.05%. Crypto stocks rose and fell, with Robinhood (HOOD.O) up 4.07%, Coinbase (COIN.O) up 2.2%, Circle (CRCL.N) down 4.71%, and Hut 8 (HUT.O) down 2.26%.
A whale/institution bought another 19,550 ETH 10 hours ago, and currently holds a floating profit of approximately US$41.34 million
According to on-chain analyst Ember, [the whale/institution that hoarded ETH through FalconX] continued to hoard 19,550 ETH (US$70.7 million) 10 hours ago. Since July 12, this address has continued to hoard 122,000 ETH (US$435 million) through FalconX, with an average price of about US$3,213. The current floating profit is US$41.34 million.
50,600 ETH flowed into Binance from HTX 6 hours ago, worth about $181 million
According to on-chain analyst Ember, 6 hours ago, 50,600 ETH (US$181 million) flowed from HTX to Binance in the same way as last time. ETH was redeemed from Aave by the HTX Recovery wallet, then transferred to the HTX hot wallet, and then flowed into Binance. In the past week, a total of 160,600 ETH (US$518 million) flowed from HTX to Binance in this way.
Institutional holdings
TAO Synergies, a listed company, spends $10 million to buy TAO tokens as reserves
According to PR Newswire, TAO Synergies Inc. (Nasdaq: TAOX) announced that as of July 17, 2025, it has spent $10 million to purchase 29,899 TAO tokens at an average price of approximately $334 per token in accordance with the company's digital asset reserve strategy for Bittensor's native token TAO. TAO Synergies has now become the world's largest publicly listed pure TAO token holder.
Bit Digital increased its holdings by 19,683 ETH, bringing its total holdings to over 120,000 ETH
According to PR Newswire, Nasdaq-listed Bit Digital announced that it has used the net proceeds from the recently completed $67.3 million registered private placement to institutional investors to purchase approximately 19,683 Ethereum. After the transaction is completed, Bit Digital holds approximately 120,306 ETH.
Publicly listed Basel Medical announces suspension of its Bitcoin acquisition strategy
According to Bitcoin News, Singapore orthopedic medical group Basel Medical (NASDAQ: BMGL) announced that it has suspended its Bitcoin acquisition strategy, citing continued uncertainty in U.S. regulation of digital assets.
Financial instrument platform Aether Holdings plans to raise $40 million, with most of the proceeds planned to be used to purchase Bitcoin
According to market news, Aether Holdings, an artificial intelligence and data-driven financial instrument platform, announced a $40 million financing, most of which will be used to purchase Bitcoin as part of its financial reserve strategy.
SharpLink Gaming purchased another 4,904 ETH 2 hours ago, and currently has a cumulative floating profit of US$260 million
According to on-chain analyst Ember, SharpLink Gaming continued to purchase 4,904 ETH (US$17.45 million) through Coinbase Prime 2 hours ago. Since SharpLink Gaming began to reserve ETH in the MicroStrategy operating mode in early June, it has purchased a total of 358,000 ETH to date. The average purchase price is about US$2,825, and there is currently a floating profit of US$260 million.
