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It has been almost 2 days since the launch of Pump fun, and there is still no airdrop announcement.

airdrop coming soon has become an empty phrase.

Binance Square is another successful strategy at the CMC level for Binance:

1、
Optimize cryptocurrency content SEO to attract new users and increase growth for Binance. This is a huge funnel entry point, and as operational time accumulates, these massive long-tail articles will continue to appear on Google and other platforms.

2、
Content creation, social interaction, live streaming, and other features increase the retention time of Binance users.

3、
The cryptocurrency creator economy, from enabling content mining rebates to a creator task platform, allows users to write quality content and complete tasks to directly earn rewards. A closed loop of traffic - trading - traffic - trading.

One of Binance's most successful strategies has undoubtedly been the acquisition of CoinMarketCap for $400 million in 2020. It is said that the business revenue contributed by CMC's traffic was recouped in just six months.

Binance Square @binance will also be a strategic success at the CMC level. Over the past two years since its launch, there has been a large number of content creators sharing massive amounts of cryptocurrency content daily, forming a huge content SEO funnel entry.

Users are also able to extend their retention time due to the rich features of Binance Square, indirectly fostering trading habits and increasing stickiness.

Currently, Binance Square has approximately 30.8 million monthly active users, accounting for 11% of Binance's total user base of 280 million. This user volume has already reached many leading creator platforms and social applications.

Finally, in addition to the existing content mining rebates of Binance Square, it also connects the full chain of traffic required to initiate projects, including tasks such as following, tweeting, retweeting, and buying coins, all of which can be distributed by Binance Square. $BNB

Today, the U.S. Securities and Exchange Commission (SEC) issued a statement regarding the tokenization of securities (U.S. stocks): emphasizing the importance of blockchain technology, stating that securities laws apply both on-chain and off-chain, and maintaining an open attitude towards innovation.

The SEC has applied the brakes to U.S. stock tokenization: this matter is under my jurisdiction, and all must comply with my securities laws.

On the other hand, it has also left room for innovation: you must come to me, and I am always ready to cooperate with the market.

The requirements for compliance in U.S. stock tokenization have been clear from the beginning.

Yesterday, @MyStonks_Org announced that it has obtained an MSB (Money Services Business) license issued by the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN), becoming one of the recent international digital securities platforms approved by U.S. regulators.

Today, MyStonks continued to release its global compliance roadmap: it plans to complete the SEC's STO filing in July, conducting compliant security token offerings that meet U.S. securities law requirements.

This is what the SEC mentioned in its statement: U.S. stock tokenization must comply with securities laws, and you must come to me, always ready to cooperate with the market.

Additionally, MyStonks will launch the Merkle Tree asset proof mechanism this month, enabling verifiable on-chain assets for the platform, enhancing transparency and user trust.

This is also crucial, similar to buying stocks through Interactive Brokers and storing stocks with Clearstream, MyStonks provides U.S. stock custody services for platform users through asset management giant Fidelity. This pertains to the purchasing and custody of stocks.

On the technical side of on-chain operations, it is currently done through 1:1 token contracts. The launch of the Merkle Tree by MyStonks should be the first in the industry to announce verifiable on-chain methods for its coin-stock platform.

MyStonks' global compliance roadmap also includes licensing roadmaps for multiple regions in Europe, the Middle East, and Asia. It can be seen that MyStonks is establishing a sound compliance and security system, adhering to federal regulations with high standards from the very beginning.

In this cycle, it seems that the only one relying on accumulating coins (Hodl) to achieve remarkable results is BTC. (SOL and BNB may also have some, but on a smaller scale)

MARA, a publicly listed mining company in the U.S., has held over 50,000 BTC, making it the second largest publicly listed company holding BTC, next to Strategy.

It's worth noting that in 2022, MARA had a net loss of $686.7 million and faced a high risk of bankruptcy.

By 2023, MARA began to recover, achieving a net profit of $261 million, with a projected net profit of $541 million in 2024.

Major mining stocks (Mara, Riot, BTBT, etc.) are highly correlated BTC price amplifiers, as BTC began to rise gradually from the bottom starting in 2023.

Then, in 2024, MARA started to learn from Strategy, implementing the Hodl BTC strategy, not selling the BTC mined, while also issuing bonds to finance BTC purchases, transforming into the second largest holder after Strategy.

MARA is also imitating Strategy, planning to issue $2 billion in stock to buy more Bitcoin. Meanwhile, the combination of mining operations and BTC hodl strategy acts as a dual amplifier for BTC, with volatility likely to increase.

For example, in the first quarter of 2025, MARA generated $214 million in revenue but had a net loss of $533 million, which was due to asset impairment caused by BTC's volatility in Q1 this year.

MARA's conclusion is: either Hodl BTC for remarkable results, or if BTC falls and cannot withstand it, face financial bankruptcy liquidation. $BTC $SOL

Yesterday, when talking to friends about the prospects of stablecoins, I gave an example:

Back then, Zhang Lei from Hillhouse Capital, during research in Yiwu, found that all merchants' business cards had QQ numbers printed on them. They realized the social prospects of QQ and Tencent in China, and decisively invested in Tencent.

Now, Huatai Securities' research report shows that "in Yiwu, stablecoins have become an important tool for cross-border payments. Chainalysis estimates that the on-chain stablecoin flow in the Yiwu market will exceed 10 billion USD in 2023."

Today's stablecoins are like Tencent back then.

However, today there are news reports stating that when reporters went for a field visit, most merchants in Yiwu said they had not heard of stablecoins, and only a few merchants accepted stablecoin payments.

Regarding this news, my analysis is:

The sample size is insufficient; according to official data, Yiwu has over 75,000 operating entities. Relying solely on reporters' street and mall visits and verbal inquiries cannot ascertain whether there are over 3,000 merchants in Yiwu using stablecoins.

In 2020 alone, over 10,000 merchants in Yiwu had their cards frozen. Many e-commerce and foreign trade merchants have very high transaction volumes and are very sensitive to cash flow; once their cards are frozen, it is equivalent to a death sentence. Therefore, the demand for stablecoins objectively exists. $USDC

15 seconds, passing through your world

Lan Lao's "Big Ambition" flips Jay Chou on Spotify with 3 million monthly active listeners.

TikTok's popular music rarely exceeds 2 and a half minutes. In the era of algorithms, "Give Me a Song Time" has been compressed from 4 minutes to 15 seconds by the times. If it is longer, there will be no patience to listen to it.

These two days, Sun Ge was on the cover of "Asia Weekly", which reminded me of the "three seconds and five steps" principle of the media industry: when the user passes by, within a distance of five steps, it takes three seconds. If the user's attention is not captured, then this display is a failure.

Looking back at Sun Ge @justinsuntron's marketing, basically, people can remember explosive/conflicting topics in a few seconds and spread them automatically.

In the era of algorithms, on the basis of 3 seconds of attention capture, all content must be displayed to users in 15 seconds.

When reading tweets, if you are not attracted in the first 3 seconds, you will swipe away; if you read for 15 seconds and still don't understand what is said, you will not have the patience to finish reading and swipe away.

As @lizmoneyprinter observed:
Directly issuing CA/token names is the fastest,
directly packaging data to tell the reason to buy is the fastest, rather than patiently researching/creating fundamentals.

This will appear:
If 3 seconds or 15 seconds can't attract, just use the number to fill the screen, and the same AI-style content rapes your attention;
Marketing that can mobilize community emotions, set the pace, and stir up trouble is more valuable.

I hope your 15 seconds can pass through my world.
I also hope to have a few minutes, and I am willing to exchange every second of it for a year.

KOL gala_nft2 Daily AI posts 10-20 articles, dominating the Kaito 14 project contribution leaderboard. How many more such super 'airdrop hunters' does Kaito hide? What is the real effect of the projects launched on Kaito?

Firstly, I do not advocate for bloggers using AI to churn out content, but I admire the execution ability of this KOL; they have taken the art of profit-making to the extreme.

Previously, if a profit-minded blogger leveraged hundreds or thousands of addresses to claim millions of U in airdrops, most people would certainly be envious and impressed, and very few would criticize them.

The same goes for profit-making; posting 10-20 articles daily on Kaito's execution ability is highly commendable.

The issue lies with the platform Kaito @Punk9277:

Encouraging AI content, rewritten articles, and studio profit-making is the source and amplifier of industry noise pollution, which I won't elaborate on,

The core issue is the intermediary platform, which, holding the budget from the project party (client), generates unprofessional and unfair distribution incentives for contributors due to systemic problems;

Therefore, I hope KaitoAI can optimize and improve on the following three tags:

Source and amplifier of industry pollution noise;
Irresponsible and unprofessional intermediaries for clients;
Unfair platform for KOLs.$KAITO

Pump Fun If only 2% of the chips were airdropped, the team and community PVP users who have supported him for over a year wouldn't look so bad.

One airdrop:
The spirit of blockchain is there
Community supporters and reputation are there
On-chain holding addresses/data are there
$pump

Hong Kong Stock Puxing Energy rose 180% today, reaching a maximum increase of 280%. This is due to the announcement yesterday of subscribing to HashKey Holdings Class A preferred shares, riding on the cryptocurrency stock hot trend.

I have a judgment: in the future, HashKey ($HSK) will become the largest "cryptocurrency stock concept" partner and underlying asset in the Hong Kong stock market.

For example, brokerage stocks: cooperating with HashKey Exchange (Guotai Junan)
Hong Kong stock micro-strategies: buying cryptocurrencies through HashKey Exchange (Boyaa Interactive)
Stablecoin concept: cooperating with HashKey Exchange (JD.com, KUN, Yuan Coin)
RWA concept: collaborating with HashKey Chain (Taikang, GF Securities Hong Kong)
Financial investment: HashKey preferred shares (Puxing Energy)
Banking concept: ZA Bank, Standard Chartered

Therefore, in the future, $HSK may not only be a breakthrough at a specific point but could be a combination of a wide range of points and surfaces.

I think all Web2 and Web3 entrepreneurs should learn from Binance's "slap in the face" three-pronged approach:

1. All business is to meet user needs; (Binance initially said it would not launch contract products, but due to user demand, it achieved the industry's highest market share in contracts) @cz_binance

2. Competitors are doing too poorly, and they are calling us back to do it; (BNB platform token, OTC, contract business) @heyibinance

3. Although we are being criticized for not doing well right now, we are doing it first and will talk later; we are always listening to user feedback to optimize; (BNB Chain, Binance Wallet)

This is precisely the embodiment of Binance's pragmatic flexibility, user-centricity, and business orientation.

Seeing the news that Airwallex is forming a stablecoin platform team, @awxjack's imitation of Binance's work is:

Our users have a demand for stablecoins, and all our business is to meet user needs;
USDT, USDC, USD1... are all garbage, we will tell everyone how to make stablecoins;
If the stablecoin business starts off poorly, we will do it first and talk later, but we are always optimizing.

Looking back at Binance Alpha in June, the profit effect is gradually weakening. A total of 31 projects were launched throughout the month, with only 3 completing both spot and contract clearance, and 10 projects only launching contracts, with most sinking immediately after launch. Airdrop earnings have also generally shrunk, with 21 projects distributing at a value of less than 100 USDT, and only 1 project exceeding 200 USDT (DMC around 240 USDT).

Although Alpha underwent 6 mechanism updates in June, including risk control upgrades, two-stage airdrop distribution, and fee reductions, aimed at raising the threshold for studios and protecting retail investors' rights, the effect has been limited. On one hand, user activity and on-chain transaction volume have declined by 30% from their peak, while on the other hand, although the score threshold has gradually been lowered from a high of 251 points to around 140 points, the airdrops in the first-come-first-served phase mostly have a value of only 10-30 USDT, offering very low cost-effectiveness.

Moreover, high-scoring users, although getting in early, have also found their returns lacking surprises; for instance, yesterday AIN only airdropped 12 USDT. Additionally, the “pre-purchase detection 15 minutes before launch” mechanism introduced on July 3, although optimizing the process, is more easily exploited by scripts or studios to bypass facial verification. In terms of score efficiency, airdrops > TGE, and “first phase claim” > “second phase first-come-first-served”, but overall, Alpha is transforming from an on-chain bonus platform into a “tool for airdrop battlegrounds.” The quality of projects is declining, and distribution earnings are weakening. If the mechanism and project screening logic are not improved, Alpha's attractiveness may continue to decline. $BNB

Many ancient Bitcoin addresses have long been acquired by market makers or associated as concerted actors.

In the past, when writing articles, I could still see some posts on early 4Chain and Reddit forums about acquiring ancient Bitcoin addresses from before 2013.

In May 2020, messages collectively signed by 145 'vintage' Bitcoin addresses (created between 2009-2010) appeared on the blockchain, stating: Craig Steven Wright is a fraud and a scammer.

This indicates that there have been hundreds of events involving ancient addresses in the Bitcoin community acting as concerted actors.

Some miners have privately mentioned that entities like Wall Street consortiums, exchanges, market makers, and fund managers have approached early large mining operators as aligned interests. At critical moments of market changes, mining operators move addresses to coordinate trading.

Therefore, Weibo believes:

The unusual activity of 80,000 BTC ancient addresses is intentionally made visible to the market by market makers, thus affecting market sentiment and price fluctuations, in line with market manipulation.

Even if someone genuinely wants to sell 80,000 BTC, it can completely be done through over-the-counter transactions, with no need for a massive market dump.

After looking at various tokenized stock (crypto stock) solutions, most prohibit US users from participating, while it is not clearly stated that users from mainland China are prohibited.

The essence of financial innovation is regulatory arbitrage, and the Chinese market is one of the largest regulatory arbitrage markets.

A rough survey indicates that there are about 100 million crypto users in the Chinese market and several million US stock users. This determines that the main users in the tokenized stock market are still crypto users and new users.

At the same time, tokenized stocks are an important means for Crypto to break through and attract the next billion users. Directly attracting new users to crypto stocks is less costly than converting US stock users or crypto users.

The pain points for US stock users in the Chinese region are: tax and foreign exchange withdrawal regulations. Tokenized stocks can effectively address this pain point, but US stock users in China still represent a niche market, with a relatively small user base, primarily serving professional investors.

The needs of Chinese crypto users: air coins and altcoins lack wealth effects, and there are no conventional methods to trade US stocks. Directly using stablecoins to recharge and trade US stocks, betting on the volatility and wealth effects of US stocks, still represents potential trading demand.

From the perspective of target users, MyStonks is the earliest and best-performing on-chain stock exchange that connects stocks and blockchain channels in the Chinese market.

Tokenized stocks are so popular, how will Binance get involved?

Speculate that Binance @cz_binance may have invested in related projects through YZi Labs, or it might plan to launch a self-custody compliant stock tokenization trading platform like Coinbase, or collaborate with some large traditional financial institutions to launch related projects.

The stock tokens promoted/led by Binance must be issued on the BNB Chain. Currently, other stock token solutions mainly choose Solana, Base, Arbitrum, or self-developed chains, so BNB Chain should also position itself in the RWA sector.

Given Binance's scale and ecological niche, there is really no need to worry about missing out. In the future, as the trading volume and user base of the stock token market grow, if Binance takes a more aggressive approach, they could quickly gain market share by launching stock tokens on Binance Wallet or even the main site, coupled with operational incentive strategies.

The founder of the Ethereum Community Fund (ECF) @0xzak is one of the co-founders of Corn, which recently launched but quickly dropped in value, disappointing the community.

He is also a well-known serial entrepreneur in the cryptocurrency space and a core developer of Ethereum. He is a co-founder of multiple projects and a key member of a token issuance group.

Interestingly, his initiation of the ECF stems from numerous grievances against the Ethereum Foundation (EF), hoping to do more to promote commercial value for the Ethereum community. However, one of his current projects, @0xbowio, is based on a paper by @VitalikButerin and is benefiting from the funding received by the foundation.

As @WutalkWu has made a structural judgment about the cryptocurrency industry in the coming years: that internet entrepreneurs and developers are withdrawing, while traditional finance and large corporations are stepping in.

Technical entrepreneurs like @0xzak, whose projects have not performed well, are seeing their reputations tarnished, and the market is no longer supporting these 'useless' tech projects, such as zk privacy and BTC L2.

Financial entrepreneurs are entering the scene, gaining industry influence, such as ETF institutions, RWA, stablecoins, and compliance license businesses. Traditional finance excels at government relations, obtaining licenses through these connections and excluding competitors.

Although Bitcoin, Ethereum, and Vitalik still uphold the foundational principles of this industry, the speculative entrepreneurs and foolish tech projects surrounding them have already alienated the community of believers.

We seem to have no choice but to accept this shift in the industry.

Summarized several common ways Binance has started/structured its ventures:

Pancake-style entrepreneurship: Internal incubation, parental management
Aster-style entrepreneurship: Asset restructuring, behind-the-scenes guidance
YZi Labs investment: Financial/strategic investment
CoinMarketCap-style acquisition: Mergers/acquisitions
BNBChain/Binance Square/Wallet-style entrepreneurship: Personally involved in development
Binance Thailand: Joint venture for local operations
Binance US: Independent compliant subsidiary

What way do you think Binance will invest in tokenized stocks?
What other projects in the Web3 industry operate under these structures/modes? $CAKE
$BNB

South Korea is going crazy, Crypto and the stock market are flying.

President Lee Jae-myung promised to allow stablecoins based on the Korean won, which ignited investors' fomo sentiment. The Korean index has soared nearly 30% this year, becoming the best performing market in Asia in the first half of the year.

Stablecoin concept stocks have skyrocketed directly: Kakao Pay has doubled in a month, LG CNS has soared nearly 70%, and the share prices of Aton and ME2ON have also been crazy.

Retail investors are completely All In, with full leverage! The outstanding margin loans of retail investors' borrowing and leverage amounted to 20.5 trillion won (about 15 billion US dollars).

In addition. Lee Jae-myung appointed cryptocurrency advocate Kim Yong-bum as chief policy adviser, and the ruling party proposed a bill to promote the digital asset industry, allowing low-capital companies (companies with equity as low as 500 million won) to apply for the issuance of stablecoins, which further triggered market optimism. $BTC

Summarized the strategies of Brother Sun's US stock TRX TREASURY STRATEGY listed company SRM (NASDAQ: SRM), fully linking this round of cryptocurrency and stock market hotspots through multiple strategies to implement the TRX flywheel:

1. Include TRX in the balance sheet to establish a value linkage between TRX and US stocks.

2. Issue stocks/bonds to raise additional TRX acquisition funds.

3. The TRX reserves of listed company SRM can be staked to generate income.

4. SRM can also create TRX-backed derivatives or stable income products in the future, and can launch RWAs or middleware products on the Tron chain.

5. In the future, SRM may provide shareholders with potential dividends or TRX token distributions.

At this point, Brother Sun @justinsuntron's several macro strategies at $TRX are also very clear: TRX reserve strategy listed company (TRXStrategy), TRX ETF, TRX national reserves, new generation global payment settlement network:

SRM Entertainment has launched the TRX reserve strategy;

A TRX ETF supporting staking functions has been submitted to the SEC;

Dominica has designated a national-level blockchain infrastructure, where 7 types of tokens on TRON enjoy equal status with fiat currency;

The total market value of stablecoins has reached $81.3 billion, and the number of stablecoin holding accounts and transaction counts rank first in the world. $TRX