Today's news tips:
Hack VC has transferred $2.157 million worth of MYX received from the airdrop claim contract.
The US SEC issued the latest guidance: Liquidity pledge is not regulated by securities laws
Binance will delist DEFIUSDT and MEMEFI U-margined perpetual contracts on August 11th
Animoca Brands partners with AMGI Studios and purchases KARRAT tokens on the open market
Jito proposes allocating 100% of block engine fees to the DAO treasury
Governance Proposal Revealed: MetaMask to Launch Stripe-Issued Stablecoin 'MetaMask USD'
Data: Nearly 700 million USDC transferred from Binance to an unknown wallet
SBI Holdings Submits Two Crypto ETF Applications in Japan, One of Which Focuses on XRP and Bitcoin
Macro
The Ministry of State Security's official WeChat account stated that in the digital age, biometric recognition technology has rapidly developed and been widely used due to its accuracy and convenience. Biometric recognition technology allows for the rapid collection, analysis, storage, and identification of facial, fingerprint, iris, body shape, and gait data, bringing significant convenience to our lives. However, the potential risks of data leakage associated with this collection should not be ignored. Publicly available cases have revealed that a foreign company, under the guise of issuing cryptocurrency tokens, scanned and collected user iris information worldwide and then transferred the data source, posing a threat to personal information security and even national security.
US neobank Slash partners with Stripe's Bridge to launch stablecoin for global commercial payments
According to CoinDesk, San Francisco-based corporate neobank Slash launched a payments and funds management platform on Tuesday, powered by a new USD stablecoin issued by Stripe's Bridge. The company announced that the product, called "Global USD Account," is aimed at companies that don't need a US bank account but want to use US dollars and make cross-border payments. It incorporates Slash's own stablecoin, USDSL, allowing users to store, send, and receive US dollars or stablecoins in the same account. Slash stated that this setup is designed to shorten settlement times for cross-border payments to US suppliers and eliminate foreign exchange fees.
Trump says Vance is most likely to be his successor
According to Jinshi, US President Trump said on Tuesday that current Vice President Cyril Vance is the "most likely" successor to his Make America Great Again (MAGA) movement. Secretary of State Rubio earlier told Fox News that Vance would be a great nominee if he decided to run, to which Trump responded, "I think he (Vance) is the most likely." He added, "We still have very good people, some of whom are sitting here today. So it's too early to say, but what is certain is that Vance is doing a very good job and he is probably the most favored candidate right now." Earlier that day, Trump said in an interview with CNBC that he "probably will not" seek a third term as president.
According to ZachXBT's investigation, Crypto Beast has reactivated his account and changed his username to @realcryptoelio. Earlier reports revealed that he was accused of manipulating 45 associated wallets to sell over $11 million worth of $ALT tokens, causing the market value to plummet.
SBI Holdings Submits Two Crypto ETF Applications in Japan, One of Which Focuses on XRP and Bitcoin
According to Beincrypto, SBI Holdings disclosed in its second-quarter earnings announcement that it had submitted applications to the Japanese Financial Services Agency for two crypto-asset ETFs. One of the funds is a crypto-asset ETF that will provide direct exposure to XRP and Bitcoin. The second fund is a digital gold crypto ETF that adopts a hybrid approach combining gold-backed securities with digital currencies, with over 50% of the fund allocated to the gold ETF. If the Japanese Financial Services Agency approves these ETFs, it will bring a major shift for the XRP ecosystem and the industry as a whole. This will officially grant XRP regulatory recognition as an investment asset. Market analysts believe that SBI's move may prompt other financial institutions to launch similar products.
The US SEC issued the latest guidance: Liquidity pledge is not regulated by securities laws
According to The Block, the U.S. Securities and Exchange Commission (SEC) stated in its latest guidance that certain liquidity staking activities do not involve securities, and those engaging in them do not need to register with the agency under securities laws. Liquidity staking entities potentially exempt from securities laws include Lido, Marinade Finance, JitoSOL, and Stakewise. The SEC stated that the issuance and sale of pledge receipt tokens in certain manners and circumstances do not constitute an offering or sale of securities, unless the deposited crypto assets are part of an investment contract. This applies particularly to staking cryptocurrencies through software protocols or service providers, which then result in the receipt of a "liquidity pledge receipt token" that proves the pledger's ownership of the pledged crypto assets and any income generated. Some experts believe this guidance may prompt the SEC to approve staking in proposed spot Ethereum ETFs, as liquidity staking tokens can help manage internal liquidity within ETFs, a concern previously raised by the SEC. Furthermore, this announcement has significant implications for receipt tokens such as cross-chain bridges, with some companies seeking to amend their listed Ethereum ETFs to allow for staking.
Changpeng Zhao files for dismissal of $1.76 billion claim filed by FTX Trust
According to Bloomberg, Zhao Changpeng has requested the Delaware Bankruptcy Court to dismiss a $1.76 billion recovery lawsuit filed by the FTX Trust. The trust claims the funds were improperly transferred to Binance by SBF (Sam Bankman-Fried). In his motion filed on Monday, Zhao argued that he is a resident of the United Arab Emirates and that the trust cannot prove it is within Delaware's jurisdiction. He emphasized that the claims have minimal relevance to the United States and that the regulations involved have no extraterritorial application. Previously, the trust and FTX Digital Markets sued Binance and several executives over a July 2021 share repurchase agreement with SBF. In July of this year, two former Binance executives filed to be removed from the lawsuit. Zhao Changpeng claimed that he was merely the "notional counterparty" to the transaction and accused FTX of "unreasonably" blaming Binance for its bankruptcy. He also argued that serving U.S. attorneys on foreign defendants is improper and would invalidate the lawsuit. Zhao also stated that U.S. bankruptcy law does not explicitly apply to overseas fund transfers.
Trump will decide on a new Fed governor this week, who could be Powell's successor.
According to Global Markets, US President Donald Trump said he will decide this week who will replace outgoing Federal Reserve Governor Adriana Kugler. The Fed announced last Friday that Kugler will resign before her term ends in January. This provides Trump with an earlier-than-expected opportunity to appoint someone more sympathetic to his stance on interest rate cuts to the Fed Board. This comes as Trump repeatedly pressures the Fed and its Chairman, Jerome Powell, to lower borrowing costs. Whoever Trump chooses for the Fed Board is likely to be a successor to Powell, whose term as Chairman expires in May, and could potentially meet the Trump administration's expectations regarding the tone of interest rate policy.
Viewpoint
According to CryptoQuant analyst Maartunn, Bitcoin recently hit a new all-time high, but long-term holders have begun selling on the rallies, including a Satoshi-era wallet that sold 80,000 BTC. Despite the surge fueled by institutional investors like Strategy and Metaplanet, Bitcoin has failed to maintain its position around $120,000. Data shows that short-term holders lost over 160,000 BTC between mid-July and early August, with the losses occurring after July 31st being particularly persistent and worthy of attention. Furthermore, outflows from Bitcoin ETFs have increased. Bitcoin is currently seeking support around $112,000, with on-chain data indicating strong support in the $108,000 to $112,000 range. Analysts believe the current correction is still normal, but a break below the previous high of $112,000 would signal a shift in market behavior.
According to Matrixport analyst Markus Thielen, it's premature to predict whether Bitcoin will fall back to its 21-week moving average of $105,696 at this stage, but this level serves as a key trend indicator. If the price remains above it, the overall bullish trend is strong; if it falls below, be wary of bearish signals. Bitcoin has experienced a correction over the past three weeks, despite remaining positive market sentiment. In the short term, funds may flow back into Bitcoin from highly volatile altcoins, providing support for prices, but investors should remain cautious and limit their risk exposure.
Bitwise CIO: The U.S. SEC Chairman’s speech on “Project Crypto” contains three key opportunities
According to Cointelegraph, Bitwise Chief Investment Officer Matt Hougan described SEC Chairman Paul Atkins' "Project Crypto" speech as a "five-year investment roadmap," highlighting three key opportunities: Ethereum/Layer 1 blockchains, super applications like Coinbase, and DeFi protocols. He added: "The market hasn't yet priced this in."
Project News
Sidekick Foundation established, 20% of tokens will be used for long-term community incentives
LiveFi project Sidekick announced the establishment of the Sidekick Foundation and the launch of its native token, $K. $K will be used for real-time tipping, subscription rewards, content unlocking, and decentralized governance. The total supply of $K is 1 billion, with an initial circulation of 11.13%. Investor and core contributor tokens will be locked for 12 months and linearly vested over 24 months. The distribution plan includes: ecosystem growth (20%), long-term community incentives (20%), liquidity incentives (4%), foundation (16%), advisors (5%), core contributors (15%), and investors (20%). Binance Alpha will reportedly launch Sidekick (K) on August 8th. Sidekick is a BNB Chain Season 7 MVB Accelerator project and has received investment from Binance Labs.
With at least 200 Binance Alpha Points, you can claim 1,000 Fireverse (FIR) tokens.
Binance Alpha has become the first platform to support Fireverse (FIR). FIR trading will officially open at 7:00 PM Beijing Time on August 6, 2025. Users holding at least 200 Binance Alpha Points are eligible to participate in the airdrop and be among the first to receive 1,000 FIR tokens. A limited supply is available on a first-come, first-served basis. If the reward pool is not fully distributed, the point threshold will automatically decrease by 15 points every hour.
The Espresso Foundation, which focuses on building Rollup native infrastructure, announced that its community token public sale on the KaitoAI platform has ended, with subscription demand far exceeding the $4 million supply of $ESP tokens. Due to oversubscription, the actual allocation is based on factors such as subscription time, holding of Composables NFTs, and influence in the L2 field. To give back to supporters, Espresso will airdrop additional tokens, including a fixed 25,000 $ESP, 33% of the subscription amount, and an additional 10% for Composables NFT holders. These tokens will be fully unlocked when the project is launched. Earlier news, the crypto infrastructure company Espresso Systems completed a $28 million Series B financing round, led by a16z crypto.
According to CoinDesk, Pendle has launched a new platform, Boros, on Arbitrum, allowing users to directly trade funding rates for Bitcoin and Ethereum perpetual contracts. The platform introduces "Yield Units" (YUs), similar in structure to Pendle's existing yield tokens. Each YU represents the realized yield on one unit of notional principal (e.g., 1 ETH or 1 BTC) until maturity, enabling users to speculate or hedge against funding rate fluctuations on derivatives exchanges like Binance. Initially, the platform will limit open interest to $10 million per market and leverage to 1.2x. While plans are in place to expand trading instruments such as SOL and BNB, and integrate with additional exchanges like Hyperliquid and Bybit, the team will slow down expansion to prioritize risk management and system validation. The Boros Vault allows liquidity providers to contribute funds and earn fees, PENDLE token incentives, and positive carry from favorable APR changes, driving early liquidity in the protocol. PENDLE token incentives are distributed based on order volume and traded notional principal. Referral programs and fee rebates will also be rolled out.
Binance will delist DEFIUSDT and MEMEFI U-margined perpetual contracts on August 11th
Binance Futures announced that it will automatically liquidate DEFIUSDT and MEMEFI U-margined perpetual contracts at 5:00 PM Beijing Time on August 11, 2025, and delist the relevant trading pairs following the liquidation. Users must close their positions by 4:30 PM Beijing Time on August 11, and new positions will not be available during this time.
Blur and Blast co-founded Pacman and announced the launch of new products
Pac-man, co-founder of Blur and Blast, responded to netizens' questions on the X platform, saying: "Looking forward to showing you what we will launch next." It is reported that the latest post on Blast's official X account was published on May 13, and it has not been updated for about 3 months.
Animoca Brands partners with AMGI Studios and purchases KARRAT tokens on the open market
According to an official blog post, Animoca Brands announced yesterday a partnership with AMGI Studios, creators and developers of the blockchain game "My Pet Hooligan." Furthermore, Animoca Brands has begun acquiring additional KARRAT tokens from the open market; KARRAT is AMGI Studios' utility and governance token. Animoca Brands will leverage its expertise to support Studio Chain, an upcoming Layer 2 blockchain for games and media. Animoca Brands will also advise AMGI Studios on My Pet Hooligan's market strategy and token economics, and provide liquidity for KARRAT tokens. Coingecko data shows that KARRAT has gained 37% in the past 24 hours as of this writing.
Jito proposes allocating 100% of block engine fees to the DAO treasury
According to CoinDesk, Jito Labs proposed a new governance proposal, JIP-24, on Tuesday, aiming to further decentralize the network by transferring all block engine and BAM fees directly to the Jito DAO treasury. If approved, the DAO would control protocol revenue and direct it to JTO token holders, reducing Jito Labs' influence on the network and increasing the role of DAO sub-groups in development. Jito Labs hopes this would increase the value of the token. Currently, Jito block engine rewards are distributed evenly, but JIP-24 would eliminate this practice and permanently transfer all 6% fees and future BAM-related revenue to the DAO treasury. It is estimated that BAM-related fees, particularly those from plugin activities, could generate $15 million in new revenue annually for the DAO. The proposal also earmarks funds for the development of a crypto-economy sub-DAO (CSD).
Rumble CEO: Rumble Wallet, built in partnership with Tether and Moonpay, is coming soon
According to Cointelegraph, Chris Pavlovski, CEO of video sharing platform Rumble, revealed that the Rumble wallet, created by Rumble, Tether and Moonpay, will be launched soon.
According to an official announcement, South Korean crypto exchange Upbit will list PROVE tokens in the KRW, BTC, and USDT markets.
Jupiter Lend, a lending protocol, will be launched in phases, with private beta starting today.
Jupiter, the Solana ecosystem DEX, announced on the X platform that its lending protocol, Jupiter Lend, will be launched in phases, starting with a private beta today for those on the waitlist. The official public launch later in August will offer loan-to-value ratios (LTVs) up to 95%, near-zero liquidation penalties, multiple vaults, and generous annualized yields (APYs). This follows Jupiter's announcement in May that it would launch its lending protocol on Solana.
Governance Proposal Revealed: MetaMask to Launch Stripe-Issued Stablecoin 'MetaMask USD'
According to Cryptopolitan, a governance proposal revealed that MetaMask plans to collaborate with Stripe to launch a stablecoin called "MetaMask USD." According to the current proposal, MetaMask plans to launch a stablecoin (mmUSD) that will be issued by Stripe but will utilize the "M^0" network for off-chain issuance and settlement. This stablecoin will reportedly be built as a core asset in the MetaMask ecosystem, providing a highly liquid base currency and natively integrated into MetaMask's services. Currently, there has been no official confirmation from MetaMask or Stripe, and specific details regarding the stablecoin's structure, launch timeline, or regulation are limited.
Coinbase Adds dYdX (COSMOSDYDX) to its Listing Roadmap
Coinbase has officially announced the addition of dYdX (COSMOSDYDX) to its listing roadmap. Trading of this asset is contingent upon market maker support and sufficient technical infrastructure. A separate announcement will be made once these conditions are met.
Coinbase to Launch Succinct (PROVE) and Euler (EUL) Trading
According to Coinbase Assets, Coinbase will be adding support for Succinct (PROVE), an Ethereum-based ERC-20 token. The PROVE-USD trading pair will be launched in phases later today, subject to liquidity requirements. Limited availability may apply in some regions. Coinbase will also list the Euler (EUL) ERC-20 asset after 9:00 AM Pacific Time on August 6th, subject to liquidity conditions.
Important data
Aiyi's monitoring indicates that five addresses that participated in the PUMP public sale and fully invested in the $1 million PUMP tokens are suspected of liquidating their holdings. Four hours ago, these addresses collected a total of 1.25 billion PUMPs and deposited them to Kraken, currently valued at approximately $4.06 million. This represents a 72% drop in value compared to the peak price, resulting in a missed potential profit of $10.866 million.
Data: Nearly 700 million USDC transferred from Binance to an unknown wallet
According to Whale Alert monitoring, at 15:46 Beijing time on August 6, 698,990,107 USDC (approximately US$699 million) was transferred from Binance to an unknown wallet.
Hack VC has transferred $2.157 million worth of MYX received from the airdrop claim contract.
According to on-chain analyst @ai_9684xtpa, Hack VC, an investor in MYX Finance, received 1,279,890 MYX tokens worth $2.157 million from the airdrop claim contract in the past seven hours. The tokens were subsequently transferred to two addresses multiple times: 1. Address 0x259...4FE57 sold 445,000 MYX tokens at an average price of $1.68, worth approximately $747,000. 2. Address 0x72F...E5353 deposited 835,000 MYX tokens into MEXC at a price of $1.77, worth approximately $1.482 million.
Cumberland and Abraxas Capital once again accumulated over 44,000 ETH
According to The Data Nerd, Cumberland withdrew 36,918 ETH (approximately $132.86 million) from Coinbase 10 hours ago. In addition, Abraxas Capital continued to accumulate 7,191 ETH (approximately $25.97 million) from Binance 4 hours ago.
According to Lookonchain monitoring, Galaxy Digital unstaked 250,000 SOL (worth $40.7 million) and deposited it into Binance 3 hours ago.
According to SoSoValue data, Bitcoin spot ETFs saw a net outflow of $196 million yesterday (August 5th, EST). The Bitcoin spot ETF with the largest daily net outflow yesterday was the Fidelity ETF FBTC, with a net outflow of $99.1117 million. FBTC's total net inflow has now reached $11.944 billion. The second largest was the Blackrock ETF IBIT, with a net outflow of $77.4156 million. IBIT's total net inflow has now reached $57.227 billion. As of press time, the total net asset value of Bitcoin spot ETFs was $146.182 billion, with a net asset value ratio (market capitalization relative to the total Bitcoin market capitalization) of 6.46%, and a cumulative net inflow of $53.650 billion.
According to Onchain Lens, four multi-signature wallets (belonging to the same entity) received 101,131 ETH worth $363.58 million from FalconX, Galaxy Digital, and BitGo in the past two days.
Institutional holdings
UK AI company Satsuma completes $217.6 million fundraising, BTC reserves increase to 1125.85
Satsuma Technology, a UK-based AI company, announced the successful completion of its second round of convertible loan notes, raising approximately £163.6 million (US$217.6 million), exceeding its target by 63.66%. The fundraise was backed by institutions including ParaFi, Pantera, DCG, and Kraken, and included 1,097 Bitcoins as part of the funding, increasing its Bitcoin reserves to 1,125.85. The funds will be used to expand its decentralized AI and Bitcoin finance strategies, including strengthening operations and retaining a portion for cash flow.
