整理：Nona
Fear and Greed Index: 55 (Greed)
Bitcoin price: $114,344
BTC/ETH spot ETF fund flows (8.4)
BTC net outflow: $333.19 M
ETH net outflow: $465.06 M
Regulation/Macro
After the introduction of the GENIUS Act, the supply of yield-bearing stablecoins surged, with USDe's supply increasing by 70%
Since the passage of the GENIUS Act in July, the supply of yield-bearing stablecoins has surged, as the act prohibits issuers from providing yield on stablecoins. On-chain data shows that the biggest beneficiaries are Ethena USDe (USDe) and Sky's USDS (USDS). Since July 18, the circulating supply of USDe has increased by 70%, reaching 9.49 billion, ranking third among all stablecoins by market capitalization.
The Hong Kong stablecoin regulations have officially come into effect, and stablecoin OTC may carry legal risks
Roger Li, founder and CEO of Hong Kong's virtual asset OTC store One Satoshi, stated in an interview with Techub News that, out of respect for the law and consideration for the risks to the company's employees and users, they have removed the fiat to USDT, USDC, and other stablecoin exchange services immediately after the regulations took effect on August 1.
Insiders: The White House plans to sign an executive order prohibiting banks from refusing service to customers due to political or cryptocurrency business reasons
The White House is preparing to sign an executive order this week that prohibits banks from terminating customer services due to political stance or involvement with cryptocurrency. The draft instructs regulators to investigate whether banks have violated relevant laws, with violators facing fines and other penalties. The order may be signed as early as this week.
Project/company dynamics
JD Coin Chain: There are false reports in the market, and the company is preparing to apply for a stablecoin license
JD Coin Chain Technology stated that it has noticed false reports and rumors in the market and is preparing to apply for a stablecoin license, with relevant information based on the announcements from Coin Chain Technology's official website.
US CFTC: will begin allowing spot contracts for cryptocurrencies like Bitcoin and Ethereum to be listed on designated contract markets
The US Commodity Futures Trading Commission (CFTC) is researching how to allow certain registered futures exchanges to list leveraged digital assets such as spot contracts for Ethereum and Bitcoin. The premise is that these contracts meet the standards required by existing CFTC rules. This is the first time a federal regulatory agency has taken coordinated measures to allow live cryptocurrency spot trading on registered platforms. The regulatory body has requested public feedback on the listing of spot cryptocurrency asset contracts on CFTC-registered futures exchanges by August 18.
AI fintech company Alaan has completed a $48 million Series A financing round, with participation from Y Combinator and others
AI fintech company Alaan has completed a $48 million Series A financing round, led by Peak XV Partners, with participation from 885 Capital, Y Combinator, 468 Capital, and Pioneer Fund. This round of funding will be used to accelerate expansion, enabling the company to scale hiring in sales, customer success, and compliance, while also increasing investment in AI-driven financial automation.
Animoca Brands co-founder: will repurchase TOWER in the open market
Yat Siu, co-founder and executive chairman of Animoca Brands, tweeted that they are publicly announcing their support for the Tower ecosystem, with the first initiative being the launch of a token buyback. The Web3 gaming sector is vibrant and crucial for the development of on-chain economy. As announced earlier this year regarding the CTA, we will buy TOWER tokens in the open market.
In-depth & Forward-looking
Stablecoins: A secret way to monetize US Treasury bonds
Stablecoins are a form of currency with higher risks. The risk lies in their use of atomic swap models rather than currency exchange models. The risk also lies in their KYC processes being less regulated. Furthermore, there is a concentration risk surrounding miners on the blockchain.
The financial era of cryptocurrency
True decentralized projects cannot be regulated in the traditional intermediary manner, thus a new approach is needed. Regulators should develop a flexible framework that achieves policy goals while not stifling innovation.
Perspective
Exclusive interview with Roger Li, founder and CEO of One Satoshi: What will happen to OTC stores after the implementation of Hong Kong's stablecoin regulations?
The VA Dealing license can be understood as a compliance license exclusive to OTC, no longer the MSO (money service operator) license issued by customs in the past, but is now uniformly regulated by the Securities and Futures Commission. This change reflects the government's desire to bring cryptocurrency asset trading under a regulatory framework similar to that of the securities market.
Turning on the tap: How will Hong Kong stablecoins activate liquidity for RWA?
When discussing stablecoins, one cannot avoid the two giants, Tether (USDT) and Circle (USDC). With circulation volumes in the hundreds of billions and huge network effects, they have long become the 'digital dollars' of the crypto world. How will compliant stablecoins in Hong Kong survive in the shadow of these giants?
