Today's news highlights:
1. Macroeconomic Outlook for Next Week: New Tariff Red Line Ignites the 'Final Battle'
2. Caixin: Hong Kong may narrow the scope of the first batch of stablecoin licenses to three or four companies
3. Arkham: The LuBian mining pool was hacked for over 127,000 Bitcoins in 2020, currently valued at nearly 14.5 billion USD
4. Binance: Holding at least 200 Binance Alpha points is required to claim 24,000 MM token airdrop
5. The Satoshi Nakamoto statue located in Lugano, Switzerland is suspected to have been stolen
6. Huang Licheng closed PUMP long positions with a loss of 7.76 million USD, total unrealized loss reached 13.5 million USD
7. Sharplink Gaming increased its holdings by 15,822 ETH, valued at approximately 55.56 million USD
8. A certain whale bought 300 million USD worth of ETH in the past three days, currently facing an unrealized loss of 26 million USD
Macroeconomics/Policy
Macroeconomic Outlook for Next Week: New Tariff Red Line Ignites the 'Final Battle'
This week, market risk sentiment leaned towards optimism due to reports of breakthroughs in trade between the EU and the US, triggering a sharp rise in global markets. The dollar was strongly favored, while the euro and yen fell significantly as US trade positions improved, leading to a rotation of funds into dollar assets. The non-farm payroll report data was mixed, accompanied by mixed revisions, impacting various asset classes. Due to risk aversion, bonds and gold rallied. Gold surged by 40 dollars post-non-farm, erasing all previous losses, closing this week at 3,363 USD/ounce, up 0.79%. Here are the key points the market will focus on in the new week:
Tuesday 21:45, US July S&P Global Services PMI final value
Thursday 03:10, 2027 FOMC voter, San Francisco Fed President Daly delivers a speech
Thursday 20:30, initial jobless claims in the US for the week ending August 2
Thursday 22:00, 2027 FOMC voter, Atlanta Fed President Bostic participates in a fireside chat
Thursday 23:00, US July New York Fed 1-year inflation expectations
Friday 22:20, 2025 FOMC voter, St. Louis Fed President Bullard delivers a speech
The new tariffs will not take effect until August 7 local time, rather than the previously scheduled August 1, giving countries another window to attempt to lower tariffs through negotiations. Additionally, although two members voted to support a 25 basis point rate cut, the overall tone of the statement and Powell's comments were very neutral, indicating that while the Fed has opened the door for a rate cut in September, it has not ruled out the possibility of rate hikes if increased tariffs and a tightening labor market lead to further inflation.
Hong Kong Monetary Authority: Beware of fraudulent stablecoin licensing scams; holding unregulated stablecoins is at your own risk.
The Hong Kong Monetary Authority officially issued a safety notice, warning against fraudulent stablecoin licensing scams. The Hong Kong (Stablecoin Ordinance) has officially come into effect, and the regulatory system for stablecoin issuers has also begun to be implemented, with the regulatory framework still in its early stages. The regulatory philosophy will adopt a 'strict at first, stable in the long run' approach. The Monetary Authority particularly reminds market participants to act cautiously when communicating with the public, to avoid making statements that could lead to misunderstandings or unrealistic expectations. Fraudulent claims of being licensed or applicants are illegal. Citizens holding unregulated stablecoins must assume their own risks.
Viewpoint
Chairman of Bitmine, the Ethereum treasury company: If estimated on fundamentals, the price of ETH should be 15,000 USD.
Tom Lee, co-founder of Fundstrat and chairman of Bitmine Immersion (BMNR), stated that the cryptocurrency market is likely to rebound. Some investors do not believe this rebound is real, and this is precisely why the crypto market may rise, as 'investors have underestimated every recovery since 2020, and this time will be no exception.'
Tom Lee added that the traditional financial industry, led by Wall Street, is steadily and quietly increasing its investment in cryptocurrencies, with ETH benefiting from Wall Street's push for tokenization. Ethereum has never experienced downtime, which is crucial for banks. If estimated on fundamentals, ETH should be valued at 15,000 USD (current price is 3,700 USD). He believes the real issue is that institutional investors' acceptance of ETH is underestimated, and we are currently in the mid-stage of Ethereum's development.
Caixin: Hong Kong may narrow the scope of the first batch of stablecoin licenses to three or four companies
According to Caixin, Hong Kong may narrow the scope of the first batch of stablecoin licenses to three or four companies. The Hong Kong Monetary Authority has realized, in communication with the People's Bank of China, that under the framework of the regulatory memorandum, the primary regulatory responsibilities and risks are concentrated in the hands of the Hong Kong Monetary Authority. Several Chinese-funded banks in Hong Kong and Chinese-funded brokerages in Hong Kong are eager to participate in the compliant stablecoin business in Hong Kong, including Bank of China Hong Kong, Shanghai Commercial Bank, China Construction Bank (Asia), SinoPac International, and Guotai Junan International, involving stablecoin issuance, custody, and other businesses.
Moreover, an insider stated in an interview related to stablecoins that there is currently no globally influential public chain in our country. Another insider suggested that national-level backbone public chains should be led by state-owned enterprises, while industry-level public chain construction could open up market competition.
Project Dynamics
Binance Alpha launched OLAXBT (AIO)
According to the official page, Binance Alpha has launched OLAXBT (AIO).
Binance: Holding at least 200 Binance Alpha points is required to claim 24,000 MM token airdrop
According to an official announcement from Binance, MOMOFUN (MM) Alpha trading will start on August 3 at 16:00 (UTC+8). After trading begins, users holding at least 200 Binance Alpha points can claim 24,000 MM token airdrop. First come, first served. If the event has not ended, the score threshold will automatically decrease by 15 points every hour. Claiming the airdrop will consume 15 Binance Alpha points. Users must confirm the claim on the Alpha event page within 24 hours, otherwise it will be considered a forfeiture of the airdrop.
Arkham: The LuBian mining pool was hacked for over 127,000 Bitcoins in 2020, currently valued at nearly 14.5 billion USD
Blockchain intelligence platform Arkham Intelligence disclosed that the LuBian mining pool was hacked for 127,426 Bitcoins (currently valued at nearly 14.5 billion USD) in December 2020. This theft appears to be the largest cryptocurrency theft at that time, with stolen Bitcoin valued at 3.5 billion USD.
LuBian mining pool suddenly appeared in the mining market in late April 2020 and quickly grew, becoming the sixth-largest mining pool on the Bitcoin network. Then, in February 2021, the LuBian mining pool suddenly disappeared, leading cryptocurrency investors to speculate that the pool might have been shut down by the government or had transitioned to a private pool. However, according to Arkham, the LuBian mining pool closed after a massive hacker attack resulted in the theft of most of its reserves. 'They seem to have first been hacked on December 28, 2020, losing over 90% of their BTC.' 'Then, on December 29, about 6 million USD worth of BTC and USDT was stolen from the Lubian address active on the Bitcoin Omni layer.'
Arkham speculated that the defect in LuBian's private key generation algorithm may be the root cause of this attack. LuBian has preserved 11,886 BTC, currently valued at 1.35 billion USD, and is still holding.
The Bitcoin re-staking platform SatLayer has opened airdrop registration
The Bitcoin re-staking platform SatLayer tweeted that airdrop registration for SlayDrop is now open, with a deadline of August 9 at 9 PM (UTC+8).
The Satoshi Nakamoto statue located in Lugano, Switzerland is suspected to have been stolen
According to BitcoinNews, the Satoshi Nakamoto statue located in Lugano, Switzerland is suspected to have been stolen. The statue was unveiled on October 25, 2024, at an event in collaboration with Tether and the city of Lugano, designed by Italian artist Valentina Picozzi, after 18 months of research and 3 months of construction.
Satoshigallery, the planner of the Satoshi Nakamoto statue, is offering a reward of 0.1 Bitcoin for clues regarding the theft of the statue located in Switzerland
Satoshigallery, the planner of the Satoshi Nakamoto statue, tweeted that a reward of 0.1 Bitcoin is being offered for information on the theft of the Satoshi Nakamoto statue established in Lugano, Switzerland. Their team stated, ‘You can steal our symbol, but you can never steal our soul.’ Satoshigallery promised to continue working on the establishment of the Satoshi Nakamoto statue in 21 cities worldwide.
Important Data
"Whale with a 75% win rate in four battles with ETH" increased its holdings by 10,000 ETH three hours ago, currently showing an unrealized profit of 12.25 million USD on the ETH short position.
According to on-chain analyst Yu Jin's monitoring, [Whale with a 75% win rate in four battles with ETH] increased its short position by another 10,000 ETH three hours ago, now holding 50,000 ETH (170 million USD) in short positions, with an unrealized profit of 12.25 million USD.
The whale began shorting 20,000 ETH at a price of 3,843 USD on 7/28, successfully gained unrealized profit before rolling over: added another 20,000 ETH short position early yesterday morning, and then added another 10,000 ETH short position early today. Current position: 15x short 50,000 ETH, position value 170 million USD, opening price 3,634 USD, liquidation price 3,634 USD.
Huang Licheng closed PUMP long positions with a loss of 7.76 million USD, total unrealized loss reached 13.5 million USD
According to Onchain Lens monitoring, Huang Licheng completely closed his PUMP (5x) long position, losing 7.76 million USD, and sold all PUMP on the spot market, incurring a loss of 2.18 million USD. He still holds ETH (25x) and HYPE (5x) long positions, facing an unrealized loss of 13.5 million USD. His total profit has dropped from 26 million USD to 3.8 million USD.
A certain whale bought 300 million USD worth of ETH in the past three days, currently facing an unrealized loss of 26 million USD
According to Arkham monitoring, a whale starting with address 0xdf accumulated 300 million USD worth of ETH from Galaxy Digital's OTC trading in the past three days, currently valued at 274 million USD, facing an unrealized loss of 26 million USD, with a decline of approximately 8.7%.
Institutional Holdings
Sharplink Gaming increased its holdings by 15,822 ETH, valued at approximately 55.56 million USD
According to on-chain analyst Yu Jin's monitoring, Sharplink Gaming received another 15,822 ETH (55.56 million USD) from Galaxy Digital five hours ago. This means the 108 million USDC transferred to Galaxy Digital early yesterday morning has all been bought back into 30,755 ETH, with an average price of about 3,530 USD.
SharpLink Gaming has accumulated 480,000 ETH since early June, operating under a micro-strategy model, currently valued at 1.63 billion USD. The average purchase price is about 3,045 USD, currently showing an unrealized profit of 173 million USD.
