Compiled by: Nona
Fear and Greed Index: 70 (Greed)
Bitcoin Price: $118,082
BTC/ETH Spot ETF Fund Flow (7.22)
BTC Net Outflow: $67.93 M
ETH Net Inflow: $533.87 M
Regulation/Macro
Japanese Prime Minister Kishida Fumio refutes media reports regarding his resignation.
Japanese Prime Minister Kishida Fumio stated today to the media that reports by Japanese media about his resignation lack factual basis. Kishida mentioned that he just concluded a meeting with senior advisors of the Liberal Democratic Party, including Taro Aso, former Prime Ministers Yoshihide Suga and Fumio Kishida, and 'did not discuss the resignation issue.' Media reports about his intention to resign are completely unfounded. Kishida reiterated that he will remain in office and continue to govern. Previously, Japan's (Daily News) reported that Prime Minister Kishida indicated to people around him that he would announce his intention to resign by August at the latest based on the results of the Senate elections summarized by the Liberal Democratic Party in August.
Russian officials: The state should confiscate cryptocurrencies from illegal miners.
Yevgeny Masharov, a member of the Russian Public Chamber and policymaker, stated that authorities should be given the power to confiscate cryptocurrencies from illegal or quasi-legal Bitcoin miners. Masharov believes this proposal will stop 'gray' miners by making illegal mining unprofitable. He stated that many illegal miners put tremendous pressure on their power grids, and if this proposal is accepted, various regions in Russia, especially those with energy shortages, will breathe a sigh of relief.
Hong Kong Customs has cracked a money laundering case involving stablecoins, with an amount involved reaching approximately $1.15 billion.
Hong Kong Customs today cracked a money laundering case involving smuggling cash and virtual assets, with an amount involved approximately $1.15 billion, and arrested a local man and a non-local man. Customs personnel identified a 37-year-old local man and a 50-year-old non-local man and launched a wealth investigation, discovering that the two had smuggled cash out of the country and conducted frequent and rapid large transactions of stablecoins and fiat currency with funds of unknown origin, which were inconsistent with their backgrounds and financial situations, suspected of money laundering activities. During the operation, customs personnel seized a batch of suspected items, including mobile phones, tablets, and bank cards. The case is still under investigation, and the two arrested individuals are currently out on bail, with more arrests not ruled out.
Yu Weimin: Avoid excessive speculation on stablecoins, only a few stablecoin licenses will be issued in the initial stage.
Hong Kong Monetary Authority President Yu Weimin discusses stablecoins again, noting that with the recent hype surrounding stablecoins, the market has seen excessive exuberance. Some public companies, regardless of their core business's relevance to stablecoins or digital assets, claim to be exploring stablecoin businesses, resulting in a 'turning stone into gold' effect, with stock prices rising and trading volumes surging, thereby greatly enhancing the company's visibility. He mentioned that only a few stablecoin licenses will be issued in the initial stage. Even if a license is obtained, considering their desire for steady development, along with the initial resource investment required, the contribution to short-term profitability will have certain uncertainties. He hopes investors remain calm and think independently while digesting 'positive' market news.
Project/Company Updates
Coinshares obtains EU MiCA license.
Cryptocurrency asset management service provider CoinShares has obtained regulatory approval for the EU Crypto Assets Market (MiCA), becoming the first European crypto asset management company to receive this license. The license was granted by the French Financial Markets Authority (AMF), allowing CoinShares to provide cryptocurrency portfolio management services across 27 EU countries and forming a triple regulatory qualification together with its existing MiFID and AIFM licenses.
Sui ecosystem parallel multi-party computing network Ika will launch its mainnet.
The Sui ecosystem's parallel multi-party computing (MPC) network Ika will launch its mainnet on July 29. Ika received strategic investment from the Sui Foundation in April this year, raising over $21 million.
FTX hearing minutes: Allow creditors from restricted jurisdictions to transfer to non-restricted jurisdictions for claims.
The account tracking FTX's bankruptcy and compensation situation, FTX Historian, tweeted a summary of last night's FTX hearing minutes, with the core content stating that for creditors from 'restricted jurisdictions' (such as China), their funds will not be immediately confiscated as proposed in FTX's original recovery plan, but they will be allowed to transfer to non-restricted jurisdictions for claims. FTX Historian added that for affected creditors, such as those who completed KYC in China but now reside in other jurisdictions like Singapore, this may be a path to claiming compensation, although it may require further information updates and more time costs.
U.S. listed company Nano Labs increased its holdings by approximately 45,685 BNB, valued at about $34.9 million.
U.S. listed company Nano Labs Ltd (NASDAQ: NA) has increased its BNB holdings to 120,000 coins, currently valued at approximately $90 million. Nano Labs purchased an additional 45,684.9862 BNB through OTC trading at an average purchase price of about $764 per coin. Market data shows that BNB broke through 800 USDT today, reaching a new all-time high.
Public company MEI Pharma completes $100 million private placement for Litecoin strategic reserves.
Public company MEI Pharma completes a $100 million private placement, trading 29,239,767 shares of common stock at $3.42 per share (or in lieu of prepaid warrants). MEI has appointed Litecoin founder and PIPE lead investor Charlie Lee as a board member and designated GSR as its digital asset and fund management advisor, responsible for overseeing the implementation of its Litecoin strategic reserves. Previously, MEI Pharma announced it would launch a $100 million Litecoin treasury strategy.
Bitmine plans to use all net proceeds of $177 million from ARK Invest's stock acquisition to buy Ethereum.
Bitmine will use the entire net proceeds from the acquisition of ARK Invest's $182 million stake (net $177 million) to purchase more Ethereum and deposit it into its treasury.
The amount of Ethereum pending release has increased to nearly 620,000 coins.
The amount of Ethereum pending release has increased to nearly 620,000 coins, with a net redemption of 271,000 coins. On-chain data shows that in the past week, HTX's two wallets have collectively redeemed 110,000 Ethereum, with a total value exceeding $400 million. In addition, institutions like Abraxas Capital Mgmt have also conducted staking redemptions.
In-depth & Forward-looking
Why are dollar stablecoins the new USD 3.0?
The dependence of stablecoins on U.S. Treasuries may lead to some potential risks. For example, if there is a massive redemption wave in the stablecoin market, stablecoin issuers will need to sell an equivalent amount of U.S. Treasuries to redeem those stablecoins, which may lead to severe fluctuations in the Treasury market and subsequently push up Treasury yields.
When KYT tools become 'zombie systems': what you think is compliance is actually a trap.
Why do the KYT tools that we invest heavily in and expend manpower to procure sometimes become mere 'zombie systems'? Behind this, is it a fatal mistake in technology selection, or a complete breakdown in process management? Or is it an inevitable result of both?
Views
Who is reaping the hundreds of billions in IPO dividends? How Hyperliquid breaks Wall Street's arbitrage black box.
For decades, IPOs have been a legalized form of 'front-running', while Hyperliquid has broken the structural price suppression mechanism long held by investment banks, opening up profit opportunities that were once exclusive to institutional insiders for retail investors.
Is financing through IPO or RWA? This is a question worth considering.
RWA is not a substitute for IPOs but rather a complement and reshaping of the traditional financing system. It provides unprecedented financing channels for small and medium-sized enterprises and asset holders, enhancing financial inclusivity; while IPOs remain a key path for companies to mature, embrace public markets, and global capital.
