According to the monitoring of on-chain data analyst Ember, a newly created address has just withdrawn 6,998 ETH from Kraken again, equivalent to $19.35 million. In the past 9 hours, a total of 32,566 ETH were withdrawn, worth $90.16 million. Earlier today, it was reported that a new wallet withdrew ETH worth about $70.66 million from Kraken in nearly 8 hours.
According to Onchain Lens monitoring, the listed company Sharplink Gaming increased its holdings by 5,072 ETH (worth US$13.51 million) 9 hours ago. Its total ETH holdings currently exceed 210,700 (worth approximately US$584.52 million).
PANews reported on July 10 that according to on-chain analyst Ember’s monitoring, the GMX hacker has exchanged the assets stolen from the GMX V1 pool for ETH. The assets stolen by the hacker include WBTC/WETH/UNI/FRAX/LINK/USDC/USDT. At present, all assets except FRAX have been sold for 11,700 ETH (US$32.33 million) and dispersed to 4 wallets for storage. The GMX hacker now holds 11,700 ETH and 10.495 million FRAX through 5 wallets. The total value is US$42.8 million. This operation should also mean that the hacker rejected the GMX project’s proposal to repay the assets and get a 10% white hat bounty.
According to Cointelegraph, YZi Labs, the family office of Binance co-founder Zhao Changpeng, will support investment institution 10X Capital to establish an asset management company focused on BNB and plans to list it on major US exchanges. The company is called "The BNB Treasury Company" and is headed by former Galaxy Digital co-founder David Namdar as CEO. The statement said that the planned "The BNB Treasury Company" is expected to announce the completion of relevant financing "in the coming weeks."
According to Onchain Lens monitoring, the "mysterious whale" AguilaTrades has increased its BTC (20x) long position and currently holds 2,821.36 BTC, worth over $300 million, with a floating profit of approximately $6 million.
Abraxas Capital withdraws $81 million worth of ETH from CEX again in the past 12 hours
According to Lookonchain monitoring, Abraxas Capital withdrew another 29,741 ETH (worth $81 million) from Binance and Kraken in the past 12 hours.
According to Lookonchain monitoring, trader @qwatio's BTC and ETH short positions suffered a series of liquidations, and his account shrank from US$16.28 million to only US$67,000, with a loss of more than US$16.2 million.
According to CoinDesk, the U.S. House of Representatives will hold a "Cryptocurrency Week" event next week to explore digital asset policies in depth, and the Tax Policy Committee will focus on cryptocurrency taxation. Jason Smith, chairman of the House Ways and Means Committee, said on Wednesday that the Oversight Subcommittee will hold a hearing on July 16 to explore positive measures to develop a digital asset tax policy framework. Following the regulation of the cryptocurrency market and stablecoins, cryptocurrency taxation is expected to become the next major issue in Congress. There may be two legislative actions next week, including a vote by the House of Representatives on the bill to regulate stablecoin issuers passed by the Senate. There is currently uncertainty about cryptocurrency taxation in the United States, and investors are complicated to calculate. Last week, Senator Cynthia Lummis proposed a new bill that proposed tax exemptions for small transactions and the elimination of double taxation. The intentions of the House of Representatives are currently unclear, but the Republican-led committee is seeking friendly policies.
Emirates Airlines to Support Cryptocurrency Payments Next Year Through Partnership with Crypto.com
According to Decrypt, Emirates has signed a memorandum of understanding (MoU) with Crypto.com to explore the integration of the exchange's cryptocurrency payment function into the airline's payment system. According to the official announcement, the function is expected to be officially integrated next year. As early as 2022, the airline shared plans to accept Bitcoin payments. Details on the types of goods or services that Emirates will accept crypto payments for, and which crypto tokens will be accepted, have not yet been announced. It is reported that Crypto.com's merchant payment system supports more than 20 cryptocurrencies such as Bitcoin and Ethereum, as well as legal currencies such as the US dollar and the euro, and is currently used by more than 4,000 merchants. The two parties will also promote this payment function through marketing activities.
Greece seizes first cryptocurrency linked to $1.5 billion North Korean Bybit hack
According to CoinDesk, the Greek Anti-Money Laundering Authority has executed a cryptocurrency asset freeze order for the first time, seizing funds related to the $1.5 billion hack of the Bybit exchange in February. The attack was linked to the North Korean hacker group Lazarus. Greek authorities tracked down the Greek local trading platform associated with the wallet involved through the Chainalysis tool and froze the relevant assets. According to Bybit's official data, about $72 million (5% of the stolen ETH) has been frozen, and $870 million is still missing. Hackers previously transferred funds through mixers such as Wasabi and Tornado Cash and cross-chain bridges. The Greek Minister of Economy and Finance said that the operation has helped victims recover about 10 million euros (11.7 million U.S. dollars).
Thumzup adds ETH, XRP, DOGE and 6 more tokens to Bitcoin-dominated corporate treasuries
According to The Block, Thumzup Media Corporation has expanded its cryptocurrency treasury strategy from Bitcoin to a variety of mainstream digital assets, including Ethereum (ETH), Solana (SOL), XRP, Dogecoin (DOGE), Litecoin (LTC) and stablecoin USDC issued by Circle. The company's board of directors approved this move as an extension of its earlier strategy, which allowed up to 90% of liquid assets to be held in Bitcoin. As of July 8, Thumzup held 19.106 Bitcoins, worth approximately $2.1 million. Earlier news, Donald Trump Jr. invested in Thumzup, a social media company that holds cryptocurrency reserves.
Monad Foundation to Acquire Stablecoin Infrastructure Developer Portal Labs
According to The Block, the Monad Foundation, the developer of the Layer1 blockchain Monad, announced that it will acquire Portal Labs, a stablecoin infrastructure developer. After the transaction is completed, Portal will operate as a subsidiary, and its co-founder and CEO Raj Parekh will join the Monad Foundation as the head of payment and stablecoin business. Portal Labs provides SDK and API tools that support more than 100 blockchains to help developers quickly integrate stablecoin payment functions. The acquisition will combine Portal's multi-chain payment solution with Monad's high-performance blockchain, and the Monad mainnet is expected to be launched in the second half of 2025.
Insider: Circle and Bybit reach USDC revenue sharing agreement
According to CoinDesk, citing people familiar with the matter, Circle has quietly reached a revenue-sharing agreement with crypto exchange Bybit. While the details of the agreement with Bybit have not been made public, Circle's deals with exchanges such as Coinbase, and more recently with Binance, are all aimed at driving the adoption of USDC by providing these platforms with a portion of Circle's reserve interest, as well as a one-time payment in the case of Binance. Circle's pre-IPO prospectus shows that Binance received an upfront fee of $60.25 million from Circle and continues to receive monthly incentives based on a percentage of the exchange's USDC balance. A person involved in the construction of cryptocurrency infrastructure revealed that Circle has reached such revenue-sharing agreements with several exchanges that hold large amounts of USDC, and said that "it can be assumed that any exchange that holds a large amount of USDC has an agreement with Circle."
Revolut is seeking to raise $1 billion at a $65 billion valuation
According to CoinDesk, citing the Financial Times, European fintech company Revolut is negotiating a $1 billion financing led by US investment company Greenoaks, with a valuation of $65 billion, a 44% increase from last year's secondary market trading valuation. The financing will be completed through a combination of new share issuance and old share sales, and the final terms have not yet been determined. The company recently opened the Bitcoin Lightning Network payment function for European users and continued to expand cryptocurrency services. CEO Nik Storonsky's compensation plan is linked to the company's valuation, and a huge reward will be triggered if the valuation reaches $150 billion. Greenoaks has invested in technology companies such as Robinhood and Stripe.
Justin Sun pledges to buy $100 million worth of TRUMP tokens
Sun Yuchen said on the X platform that his team pledged to buy $100 million worth of TRUMP tokens, calling it the "Make America Great Again (MAGA) currency."
Alon, the founder of Pump.fun, published an article on the X platform to disclose the future focus: 1. Improve the quality, sustainability and diversity of the tokens that have been launched: In the future, the creator revenue sharing mechanism will be extended to the CTO project, and the fee structure will also be further adjusted. 2. Double down on the "social" field: further invest and focus on the Pump.fun live broadcast function. 3. Continue to invest in creating user experience. 4. Expand the team size: At present, the basic framework of the team has been initially built, with more than 70 core members covering engineering, data, security, trust and compliance, legal affairs, operations and growth. The team will continue to actively expand through recruitment and strategic acquisitions, and the first acquisition will be officially announced soon.
According to market news, the U.S. Securities and Exchange Commission (SEC) confirmed that it had received an amendment to the Bitwise spot Bitcoin and Ethereum ETFs regarding the physical redemption method.
US SEC Delays Approval of Physical Redemption Method for BlackRock’s Ethereum ETF
According to market news, the U.S. Securities and Exchange Commission (SEC) has postponed its approval decision on the physical redemption method of BlackRock's spot Ethereum ETF.
Cyvers Alerts: ZKSpace suspected to be attacked, about 4 million US dollars were transferred out
Cyvers Alerts said on the X platform in the early morning that it had detected multiple suspicious transactions in ZKSpace. At the same time, its official X account had been frozen, and the funds affected were about 4 million US dollars. Currently, about 1.3 million US dollars of funds, including USDT and USDC, have been converted into ETH and deposited into Tornado Cash.
U.S. SEC Commissioner Hester Peirce states: Tokenized securities are still securities
According to the official website of the U.S. Securities and Exchange Commission (SEC), SEC Commissioner Hester Peirce issued a statement on the tokenization of securities, emphasizing that although blockchain technology has brought a new model for securities issuance and trading, tokenized securities still fall within the scope of securities and must comply with federal securities laws. Peirce pointed out that the tokenization of securities may be carried out directly by the issuer (such as a company tokenizing its shares) or by a third-party custodian through the tokenization of its securities or "security rights". The latter may expose investors to unique counterparty risks. She reminded market participants to evaluate the legal nature of tokens based on specific circumstances - they may constitute "security receipts" (themselves securities) or "security swaps" (retail investors are not allowed to trade over-the-counter). The SEC recommends that issuers of tokenized securities fulfill their information disclosure obligations and refer to the recent relevant guidance of the SEC's corporate finance department. For situations where technical characteristics require adjustments to current rules, the SEC expressed its willingness to work with the industry to develop exemptions and promote rule modernization.
Donald Trump Jr. Invests in Thumzup, a Social Media Company That Holds Crypto Reserves
Donald Trump Jr. has bought shares of a loss-making social media company that is building up its Bitcoin reserves, the latest investment in the Trump family's "cryptocurrency as a treasury asset" strategy, according to a report from Jinshi. Los Angeles-based Thumzup Media said in a filing on Wednesday that Trump Jr. holds 350,000 shares of the company, which is worth more than $4 million based on yesterday's closing price of $12.36 per share. According to a person close to Trump Jr., Trump Jr. bought the company's shares on the advice of his investment advisor and has no other relationship with the company.
Trump sends tariff letters to 8 countries again, Brazil faces 50% tariff
According to Jinshi.com, on July 9, US President Trump published letters on the social media platform "Real Social" to the leaders of eight countries regarding the imposition of tariffs, including Brazil, the Philippines, Brunei, Moldova, Algeria, Iraq, Libya and Sri Lanka. Among them, Trump said that Brazil will be subject to a 50% tariff, Libya, Iraq, Algeria and Sri Lanka will be subject to a 30% tariff, Brunei and Moldova will be subject to a 25% tariff, and the Philippines will be subject to a 20% tariff. The new tariff will take effect on August 1. Trump has sent tariff letters to 22 countries.
"Fed's mouthpiece": Minutes show the Fed is split into three camps
According to Jinshi.com, Nick Timiraos, the "Federal Reserve mouthpiece", said that the minutes of the Fed meeting revealed something we already knew, and officials (on the interest rate path) were divided into three main camps: ① rate cuts within the year but excluding July (mainstream camp), ② no action for the whole year, and ③ advocating immediate action at the next meeting (the minutes showed that only "a few" participants supported it, implying that Fed Governors Waller and Bowman). The minutes also pointed out that "several participants said that the current target range for the federal funds rate may not be much higher than the neutral level." In other words, unless the economy slows down significantly, even if the interest rate cuts are restarted, the room for subsequent interest rate cuts will be very limited.
According to Cailian Press, the minutes of the Fed's June meeting showed that policymakers believed that there was "considerable uncertainty" about the potential inflationary impact of tariffs in terms of timing, scale and duration. They did not have a unified answer to how much impact tariffs would have on inflation, depending on how tariffs are transmitted to the economy and the progress of trade negotiations. Since the June meeting, Federal Reserve Board members Christopher Waller and Michelle Bowman have raised the possibility of a rate cut this month based on mild inflation data. The minutes showed that a "few" officials expressed willingness to consider a rate cut at the July 29-30 meeting. Most officials believed that a "modest reduction" in the policy rate this year might be appropriate. However, most officials still insisted that the stable economic performance of the United States gave them room to be patient in adjusting interest rates. In the minutes, policymakers evaluated economic growth as "robust" and believed that the unemployment rate was low. "Participants believed that although the uncertainty of inflation and economic prospects has decreased, the adjustment of monetary policy should still remain prudent." After the release of the minutes, according to CME's "Fed Watch": the probability of the Fed keeping interest rates unchanged in July is 93.3%, and the probability of a 25 basis point rate cut is 6.7%. The probability that the Federal Reserve will keep interest rates unchanged in September is 31.1%, the probability of a cumulative interest rate cut of 25 basis points is 64.4%, and the probability of a cumulative interest rate cut of 50 basis points is 4.5%.
BTC breaks through $112,000, setting a new all-time high
OKX market data shows that BTC has just broken through $112,000, setting a new record high. It is currently trading at $112,000.00 per coin, up 2.68% on the day.
ETH breaks through $2,700, up 1.63% on the day
The OKX market data shows that ETH has just broken through $2,700 and is currently trading at $2,700.26 per coin, with a daily increase of 1.63%.
Linqto's former CEO sued in class action lawsuit, accused of securities fraud
According to Eleanor Terrett, attorney John E Deaton filed a securities fraud class action lawsuit against William Sarris, the founder and former CEO of Linqto, on behalf of thousands of retail investors. The lawsuit alleges that Sarris used the Linqto platform SPV to sell shares of private companies such as Ripple, Uphold and Kraken by failing to disclose markups of up to 60%, misleading exemptions and unlicensed sales strategies, and ignored internal legal warnings in 2023 and 2024, suspected of violating multiple SEC and FINRA regulations. Deaton said that the lawsuit was against Sarris personally and was not protected by bankruptcy, and any compensation would be used to compensate the injured investors.
ZachXBT: Circle has not frozen more than 9 million stolen USDC
Chain detective ZachXBT tweeted that in response to a $40 million attack, the attacker used CCTP to bridge funds from Arbitrum to Ethereum, and the related $9 million USDC was not frozen within 1-2 hours.
According to GMX officials, the GLP pool of GMX V1 on Arbitrum was attacked by a vulnerability, and about 40 million US dollars of tokens were transferred to an unknown wallet. GMX said that security has always been a core priority of the platform. At present, all core developers and security partners are fully investigating the cause of the incident and have suspended transactions on GMX V1 and the minting and redemption of GLP to prevent further risks. Officials emphasized that this vulnerability only affected GMX V1 and its GLP pool, and GMX V2 and GMX tokens themselves were not affected. A detailed incident report will be released later.
Gate supports the public sale of Pump.Fun (PUMP) and opens the user subscription channel
According to the official announcement, the crypto asset trading platform Gate announced that it supports the public sale of the popular Solana ecological project Pump.Fun (token abbreviation: PUMP), which is expected to sell 15% of the total tokens, with a target fundraising scale of US$600 million and a project market value of US$4 billion. The PUMP sale adopts an open and fair launch mode. Users can subscribe to tokens at a unit price of 0.004 USDT through the Gate platform. The subscription time is from 22:00 on July 12, 2025 to 22:00 on July 15 (UTC+8), while stocks last. Users can use USDT to participate, and the single subscription range ranges from 5 to 100,000 USDT. PUMP is a utility token issued by the Pump.Fun Memecoin issuance platform and the swap.pump.fun automatic market maker (AMM) protocol. Gate emphasized that this subscription activity was independently initiated by the Pump.Fun team. Gate Labs did not participate in the investment of this project. The platform only provided technical and operational support. Users were reminded to fully understand the project background and potential risks before participating, and to make rational judgments and prudent decisions.
Binance Futures will launch PUMPUSDT perpetual contract pre-sale trading
According to Binance's announcement, Binance Futures will launch PUMPUSDT perpetual contract pre-sale trading at 07:30 (UTC) on July 10, 2025, with a maximum leverage of 5x. The contract uses Pump.fun (PUMP) as the underlying asset, with a total supply of 1 trillion pieces, USDT settlement, and supports multi-asset mode. The contract funding rate is capped at ±2.00% and is settled every four hours. After the pre-sale period ends, the contract will automatically convert to a standard perpetual contract, and the trading function will not be affected.
pump.fun: PUMP will launch its first token offering on July 12, with 15% used for ICO public sale
pump.fun tweeted that $PUMP will be officially launched on July 12 through an initial coin offering (ICO). The total supply of tokens is 1 trillion, and the allocation plan includes: 33% for ICO sales (18% for private placement by institutional investors and 15% for public sale. The purchase terms of private placement and public sale are exactly the same, and each token is sold at $0.004. All tokens sold through ICO will be unlocked on the first day of token trading, and the private placement part has been fully allocated. 24% for community and ecological incentives, 20% for the team, 2.4% for the ecological fund, 2% for the foundation, 13% for existing investors, 3% for live broadcast related, and 2.6% for liquidity and exchanges. The official emphasized that the public sale will start at 22:00 (UTC+8) on July 12 and end at 22:00 (UTC+8) on July 15. Participants need to complete KYC certification in advance, and users in the United States and the United Kingdom cannot participate in this ICO. Tokens will be transferable within 48-72 hours after the token sale ends.
Nvidia becomes first company to surpass $4 trillion in market value
Nvidia (NVDA.O)'s gains widened to nearly 2.5%, with its market value exceeding $4 trillion, making it the first company to have a market value of over $4 trillion.
Story and World cooperate to promote on-chain IP verification to deal with AI content infringement
According to The Block, Story Network has reached a cooperation with the digital identity project World to integrate the World ID digital identity solution into Story's Layer 1 network focusing on intellectual property rights, aiming to address intellectual property infringement issues brought about by AI-generated content. Through this cooperation, creators can not only verify the IP in their wallets, but also set the terms of use and payment of intellectual property rights. This feature is expected to be launched in the fall of 2025. World's iris scanning technology can verify that online entities are human, enhancing the ownership and trust of creators' works.
Kraken and Backed Expand xStocks Support to BNB Chain
According to The Block, Kraken and Backed announced that they will expand xStocks from Solana to BNB Chain, allowing users to trade tokenized assets of U.S. stocks in the form of BEP-20 tokens. This expansion will provide users in more regions around the world with the opportunity to access traditional U.S. stocks on the chain and promote the development of the on-chain composable equity market.
Bitget and xStock reached a strategic cooperation and launched 6 tokenized stock products
Bitget announced a strategic partnership with the stock tokenization platform xStock, and launched six tokenized stock products, TSLAx, NVDAx, MSTRx, SPYx, CRCLx and AAPLx, through Bitget's on-chain trading Onchain. This function realizes the integration of the traditional stock market and the crypto ecosystem, supports 7*24 hours of real-time trading and instant settlement, and breaks the trading time restrictions and entry barriers of the traditional stock market. Bitget Onchain was launched in 2025, aiming to seamlessly connect CEX and DEX, bringing users a more convenient, efficient and secure on-chain trading experience. By integrating the traditional stock market and the crypto ecosystem, Bitget Onchain is lowering the threshold for global users to participate in the stock market, providing a more accessible entry for a new generation of investors who pursue all-weather, diversified asset allocation.
According to Aunt Ai, the price of $BR coin was halved in a short period of time. Data from the OKX liquidity section showed that 26 addresses withdrew liquidity worth $47.59 million in 100 seconds, and the combined effect of 3 million-dollar and 13 half-million-dollar large-scale dumping caused a sharp drop in liquidity and an instant collapse in the coin price. Before the plunge, BR liquidity once exceeded $60 million, but now only $14.56 million remains.
Market News: Ripple selects Bank of New York Mellon as custodian of Ripple’s USD reserves
Market news: Ripple chooses Bank of New York Mellon as the custodian of Ripple's US dollar reserves.
Tanssi Network mainnet is officially launched, TANSSI tokens are listed on Binance and Kraken
According to The Block, the decentralized application chain protocol Tanssi Network has officially launched its mainnet, and announced that its native token $TANSSI will be traded simultaneously on Binance and Kraken exchanges today. Tanssi has supported more than 3,000 application chains in the testnet phase and processed more than 57 million transactions. Its economic security is guaranteed by Symbiotic's Universal Staking protocol, and more than $319 million in assets have been entrusted when the mainnet was launched. Tanssi provides developers with customizable, Ethereum-secured application chain infrastructure that supports compliance, free gas fees, and multi-token handling fees. The first batch of partners include Wirex, BLOCKBR, BRX, Bluegreen, Estúdios Flow and AmFi, covering billions of dollars in assets and tens of millions of users.
UK cryptocurrency users may be fined if they fail to provide information
According to CoinDesk, UK cryptocurrency users will need to submit information including full name, date of birth, address, country of residence and tax identification number to service providers from January 1, 2026, otherwise they may face a fine of up to 300 pounds (about 408 US dollars). The UK Revenue and Customs (HMRC) said that this move is aimed at linking users' crypto asset activities with their tax records in order to calculate the amount of tax payable. The regulation applies to all companies classified as crypto service providers, including exchanges, wallet applications, NFT markets and crypto asset management services.
Binance will launch the 26th HODLer airdrop project Lagrange (LA)
According to Binance's announcement, Binance announced the launch of the 26th HODLer airdrop project - Lagrange (LA). This airdrop is for users who subscribe BNB to Simple Earn and on-chain income products between June 22 and June 25, 2025. It is expected that LA tokens will be issued to users' spot accounts at least 1 hour before the transaction starts. LA will be launched at 15:00 (UTC) on July 9, 2025, supporting USDT, USDC, BNB, FDUSD and TRY trading pairs. A total of 15 million LA will be issued in this airdrop, accounting for about 1.5% of the initial total supply. In addition, the initial circulation of LA is 193 million, accounting for 19.3% of the total supply.
Binance Alpha will list Giants Protocol (G) on July 11
Binance Alpha will be the first platform to list Giants Protocol (G) on July 11. Eligible users can use Binance Alpha points to claim the airdrop on the Alpha Events page after trading is launched.
According to official news, Circle Internet Group, the issuer of stablecoin USDC, and OKX announced a strategic partnership, and the two parties will jointly enhance the two-way exchange liquidity between the US dollar and the USDC stablecoin. This cooperation will enable OKX's 60 million+ users around the world to enjoy 1:1 instant exchange services between the US dollar and USDC in various product lines on its platform. In addition, OKX will simplify users' fiat currency (deposit/withdrawal) operations through common banking partners, making it more convenient for customers to use USDC in trading, payment and other scenarios. It is reported that this cooperation will provide users with more trading options, optimize the trading experience, and open up new opportunities for individuals and enterprises around the world to seamlessly use USDC.
Binance Wallet will launch the 30th exclusive TGE: Velvet Capital (VELVET)
Binance Wallet tweeted that the 30th exclusive TGE will be held on July 10, 2025, 8:00-10:00 (UTC) through the PancakeSwap platform, and the project is Velvet Capital (VELVET). Eligible users need to use Binance Alpha points to participate. In addition, the official will also provide an additional 32 million VELVET for subsequent activities, and more details will be announced soon.
Ripple's RLUSD stablecoin circulation exceeds $500 million
According to The Block, the circulation of RLUSD, a dollar-pegged stablecoin issued by Ripple, has exceeded $500 million in seven months since its launch in December 2024. RLUSD is issued on XRP Ledger and Ethereum and is currently among the top 20 dollar stablecoins in the world, with a daily trading volume of approximately $26 million. The currency is backed by cash, cash equivalents and short-term U.S. Treasury bonds and is 1:1 anchored to the U.S. dollar. Currently, Ripple is seeking a U.S. National Trust Bank license to directly hold customer deposits and issue RLUSD. Overall, the total market value of the U.S. dollar stablecoin market has approached $250 billion, accounting for more than 95% of the total stablecoin market.
