Compiled by: Nona
Fear of Greed Index: 54 (Greed)
Bitcoin Price: $115,187
BTC/ETH Spot ETF Fund Flows (8.6)
BTC net outflow: $91.55M
ETH net inflow: $35.12M
Regulatory/Macro
The RWA registration platform initiated by the Hong Kong Web3.0 Standardization Association is officially launched
The Recycled Water Asset (RWA) registration platform officially launched in Hong Kong today. Initiated by the Hong Kong Web3 Standards Association, the platform will connect the entire process of RWA asset tokenization, from digitization to assetization and financialization. Three Web3 standards were also approved today: the RWA Tokenization Business Guide, the RWA Tokenization Technical Specification, and the Blockchain-Based Stablecoin Cross-Border Payment Technical Specification.
Trump: Reciprocal tariffs will take effect at midnight tonight
"Reciprocal tariffs will take effect tonight at midnight. Billions of dollars will begin flowing into the United States, primarily from countries that have taken advantage of us for years. The only thing that can stop American greatness is a radical left court that wants to see our country fail."
The Federal Reserve is exploring using gold reserves valuation gains to fund the US strategic Bitcoin reserve.
A recent Federal Reserve report explores using valuation gains on gold reserves to fund Senator Lummis’ proposed U.S. strategic Bitcoin reserve.
SEC Commissioner Caroline Crenshaw: New Liquidity Pledge Statement Does Not Clarify the Legal Landscape, Instead Adds to the Confusion
U.S. Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw stated in a statement that the new Liquidity Pledge Statement fails to clarify the application of federal securities laws to crypto assets and instead exacerbates confusion. The statement is based on a series of assumptions that have not been verified by industry realities, and the legal conclusions apply only if these assumptions hold true.
Leung Chun-ying: Hong Kong is becoming an important fulcrum for industrial transformation and upgrading, application scenario innovation and global capital integration in the Web 3.0 field
Liang Zhenying, Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference, pointed out in his speech at the summit forum on Web3.0 standardization that Web3.0 is driving the digital economy to leap from information interconnection to value interconnection, but the accompanying institutional and technical challenges cannot be ignored.
Project/Company News
Coinbase will charge a 0.1% fee on USDC-USD trades with a net conversion volume exceeding $5 million within 30 days.
According to a notice published online by Coinbase, starting August 13, the exchange will charge a 0.1% fee on USDC-to-USD trades with a net conversion amount exceeding $5 million over a 30-day rolling period.
SLF has been listed as a trading warning item by South Korea's DAXA, and Bithumb has suspended its deposit services.
Bithumb announced that its SelfChain token, SLF, has been designated as a trading alert item by the Korea Digital Asset Exchange Association (DAXA). Deposits for SLF have been suspended, with further notification planned for the third week of August.
SentinelLABS: Criminals are using old YouTube accounts to promote cryptocurrency bots and commit scams, stealing 256 Ethereum
Cybersecurity firm SentinelLABS reports that criminals are using old YouTube accounts that publish cryptocurrency news and investment advice to distribute a scam trading bot designed to steal cryptocurrency. SentinelLABS notes that the scam has been "widespread and ongoing" since 2024. When victims deploy smart contracts, the attacker's wallet address is added and disguised as a transaction address. When users inject funds into the contract, the scammers can access and transfer the funds. To date, the scam has siphoned off over 256 Ethereum.
Bullish plans to list on the New York Stock Exchange on August 13, aiming to raise $629 million through its IPO.
Bullish, the cryptocurrency trading platform owned by Block.one, has filed documents with the U.S. Securities and Exchange Commission (SEC) to sell 20.3 million shares at a price range of $28 to $31 per share, raising up to $629.3 million. The company plans to list on the New York Stock Exchange on August 13.
Binance releases new reserve certificate, Bitcoin reserve ratio is 102.96%
Binance released a new round of reserve proof (snapshot date: August 1st). User Bitcoin assets are approximately 591,200, with a Binance wallet balance of approximately 608,600, and a reserve ratio of 102.96%; user USDT assets are approximately 29.855 billion, with a Binance wallet balance of approximately 30.533 billion, and a reserve ratio of 102.27%; user Ethereum assets are approximately 4.555 million, with a Binance wallet balance of approximately 4.585 million, and a reserve ratio of 100.67%.
Delin Holdings plans to raise HK$653 million through a rights issue. The proceeds will be used to expand the RWA tokenization program and establish Bitcoin reserves.
The board of directors of Delin Holdings, a Hong Kong-listed company, announced that it has entered into a placing and subscription agreement and a special mandate subscription agreement, with total proceeds expected to be approximately HK$653.3 million. Approximately 30% of the proceeds will be used to support the Group's strategic acquisitions and/or investments, as well as to expand its RWA tokenization program; approximately 15% will be used to develop its Bitcoin mining business and build its Bitcoin reserves; approximately 7% will be used to establish a licensed virtual asset over-the-counter trading and retail network in Hong Kong, and to apply for and upgrade regulatory licenses for virtual asset-related businesses in Hong Kong and other jurisdictions; and approximately 8% will be used to further develop the Group's digital asset, cryptocurrency, and stablecoin-related business initiatives, either through independent engagement of blockchain experts to research and develop related systems and interfaces, or through strategic joint ventures with globally renowned industry players.
Hong Kong asset management firm Trivest Advisors disclosed holdings of over $90 million in BlackRock Bitcoin ETF shares
Hong Kong asset management firm Trivest Advisors disclosed that it holds shares of BlackRock's Bitcoin spot ETF IBIT worth over US$90 million.
Tornado Cash co-founder convicted of conspiracy to operate an unlicensed money transmitting business
A Manhattan jury convicted Tornado Cash co-founder Roman Storm of conspiracy to operate an unlicensed money transmitting business, but failed to reach a verdict on charges of money laundering and sanctions violations. Crypto organizations, including the DeFi Education Fund and the Blockchain Association, expressed disappointment in the verdict, saying it sets a dangerous precedent for open-source software developers and calling for an appeal.
Caocao Travel will collaborate with Shengli Securities to explore RWA tokenization, stablecoin payment applications, and compliant digital currency issuance.
Cao Cao Travel and Victory Securities, a licensed Hong Kong financial institution, have signed a strategic memorandum of understanding (MOU) for virtual asset cooperation. The two parties will collaborate in three key areas: tokenization of real-world assets, stablecoin payment applications, and compliant digital currency issuance. Gong Xin, Executive Director and CEO of Cao Cao Travel, stated that blockchain technology and innovative Web 3.0 models will accelerate the asset tokenization process in the robotaxi industry.
Cosmos Health, a US-listed company, plans to raise $300 million to launch its Ethereum treasury strategy.
Cosmos Health, a US-listed healthcare company, announced it has entered into a securities purchase agreement with a US institutional investor to issue up to $300 million in senior secured convertible promissory notes to initiate its Ethereum treasury strategy. The company will strategically accumulate Ethereum, with assets to be custodied and collateralized through the institutional infrastructure provided by BitGo Trust Company.
Depth & Outlook
DeFi Summer Hasn’t Arrived, Tokenized Stocks Are Already a Wildfire
Tokenized shares are digital representations of real company stock that exist on a blockchain network rather than a traditional exchange. You can think of them as crypto twins of real stocks—each token typically represents one share (or fraction) of a company and is fully backed by real shares held in escrow.
Regulatory turmoil: Hong Kong issues strictest stablecoin regulations, US seeks to build on-chain financial markets
Amidst the market's heated speculation, regulators have unsurprisingly poured cold water on stablecoins. Hong Kong's stablecoin regulations, based solely on their content, are quite restrictive, with the stringent real-name verification requirements earning them the title of "the world's strictest stablecoin law."
Viewpoint
Three fatal problems of Circle, the leading compliant stablecoin
Stablecoins are a critical piece of infrastructure that will replace SWIFT, bank clearing and settlement, and the foreign exchange system. Circle's vision goes far beyond issuing stablecoins. It aims to build a new financial system, with USDC at its core.
After the implementation of the Stablecoin Regulation, how will the Hong Kong RWA industry chain reshape the logic of asset circulation?
Hong Kong, leveraging its strong financial infrastructure and responsive policy response, is striving to seize the leading position in the development of stablecoins and asset tokenization. This article aims to review Hong Kong's virtual asset regulatory framework and the evolution of its RWA policy, focusing on the technical and institutional logic underlying the synergy between the two, as well as key pilot programs and future trends.
