Today's Headlines:
Multiple addresses accumulated 648,000 ETH worth $2.44 billion in just two weeks
Linea announces token distribution details, with 9% distributed to users via airdrop
Anchorage Digital purchased over $1.19 billion worth of Bitcoin in 9 hours
Ark Invest purchased another $15.3 million worth of BitMine shares on Tuesday
Coinbase to list BankrCoin (BNKR) on the Base network
Macro/Policy
US SEC Approves Physical Subscriptions and Redemptions for Crypto Asset ETP Shares
According to the SEC's official website, the U.S. Securities and Exchange Commission (SEC) voted to allow authorized participants to conduct physical subscriptions and redemptions for crypto asset exchange-traded product (ETP) shares. This move marks the beginning of a physical subscription and redemption process for spot ETPs such as Bitcoin and Ethereum, similar to other commodity ETPs, improving product efficiency and reducing costs. SEC Chairman Paul S. Atkins stated that this move will help establish a more rational regulatory framework for crypto assets and benefit investors. The SEC also approved several crypto-related exchange applications, including hybrid spot Bitcoin and Ethereum ETPs, related options, and increased position limits for Bitcoin ETP options. AML Bitcoin founder sentenced to 7 years in prison for multimillion-dollar cryptocurrency fraud and money laundering. According to The Block, Rowland Marcus Andrade, founder of AML Bitcoin and CEO of the NAC Foundation, has been sentenced to 84 months (7 years) in prison by a US federal court for wire fraud and money laundering involving the cryptocurrency AML Bitcoin. The court found that Andrade defrauded investors of approximately $10 million between 2014 and 2019 by falsely promoting AML Bitcoin's technology, commercial potential, and launch date. He used over $2 million of the proceeds for personal expenses, including the purchase of real estate and luxury cars. A hearing on victim compensation and property forfeiture will be held on September 16, 2025.
According to the National Business Daily, Hong Kong Monetary Authority Deputy Chief Executive Chan Wai-min stated at a technical briefing on the regulatory regime for stablecoin issuers that the number of stablecoin issuer licenses to be issued in the first phase is still uncertain and will depend on the quality of the application materials submitted by the applicants. The first stablecoin issuer license is expected to be issued early next year, and he emphasized that "the threshold for passing the application is very high." Chan Wai-min also stated that the Hong Kong Monetary Authority maintains an open approach regarding fiat currencies. Stablecoin issuers can apply for a license pegged to a specific fiat currency or to a basket of fiat currencies. The key is to indicate the fiat currency in the application. Indonesia to Raise Taxes on Cryptocurrency Transactions According to Reuters, the Indonesian Ministry of Finance has issued a new regulation, increasing the tax rate on cryptocurrency transactions starting August 1st. The tax rate for sellers of crypto assets on domestic exchanges will increase from 0.1% to 0.21%, while it will increase from 0.2% to 1% on overseas exchanges. Buyers will no longer be required to pay value-added tax. Furthermore, the VAT on cryptocurrency mining will increase from 1.1% to 2.2%. Industry insiders believe this move demonstrates Indonesia's shift from a commodity to a financial asset, but they are calling for an adjustment period for businesses and for increased oversight of transactions on overseas platforms.
Opinion
Well-known crypto trader Eugene (0xENAS) has exited most of his long positions and is maintaining a defensive stance. He noted that August is traditionally an unpredictable month, and this year's market may not be smooth sailing either. He also mentioned that this "Alt Season" may be the weakest in history. Despite the price increase of ETH, it has not brought about a significant wealth effect. This suggests that institutional investors are the primary buying force, and funds have not flowed back into the altcoin market. Therefore, he recommends continuing to focus on ETH investments.
Project Updates
Radix Founder Dan Hughes Passes Away Unexpectedly; Team Committed to Carrying On His Vision
Dan Hughes, founder and original architect of the Radix Network, passed away unexpectedly at his home on Sunday evening from natural causes. Dan Hughes was a longtime innovator in decentralized ledger technology and was known as a visionary builder and problem solver. He not only advanced the development of core technologies like Cerberus and the Radix Engine, but also earned the respect of the community for his authenticity, humility, and clarity of purpose. The Radix team stated that while Dan's passing is a profound loss, the foundation and vision he established will continue to drive the project forward. To ensure a smooth transition, Chief Strategy Officer Adam Simmons and Chief Financial Officer Jonathan Day will serve on the Radix Foundation Board alongside current CEO Andy Jarrett. The team called on the community to express their respects on the Radix Telegram or Discord channels and stated that they would temporarily pause public discussions to focus on operational stability. Ark Invest purchased another $15.3 million worth of BitMine shares on Tuesday. According to The Block, Cathie Wood's Ark Invest purchased another $15.3 million worth of BitMine Immersion Technologies shares through its three ETFs on Tuesday, adding to its previous $20 million purchase the day before. Last week, Ark Invest also spent $182 million to acquire over 4.77 million shares of BitMine common stock. At the same time, Ark Invest's ARKF fund sold $1.47 million worth of Block Inc. shares. BitMine Chairman Thomas Lee stated that the company's ETH holdings have exceeded $2 billion, and the company is on track to acquire and stake 5% of the total ETH supply. Although BitMine's stock price fell 8.86% on Tuesday, it has risen 650.29% over the past month. Linea Announces Token Distribution Details, 9% to Users via Airdrop Linea Project Lead Declan Fox stated on the X platform that the team has confirmed that 10% of tokens will be allocated to early contributors, including 9% to users who participate in Linea voyages and receive LXP. Eligibility criteria and checkers will be announced before the TGE. The snapshot has been completed and Sybil filtering has been performed. This airdrop does not involve CEX listing, InfoFi, or other dilution, and the team and investors will not receive any distribution. Another 1% will be allocated to strategic builders, managed at the discretion of the Linea team, and used to incentivize dapps and the community. Rewards for liquidity providers are included in the 75% ecosystem fund, and details of LXP-L will be announced by the alliance. Of the 22% circulating supply, 12% (excluding airdrops) will be used for governance initiatives such as exchange liquidity, market making, and partnerships. The ecosystem fund has a 10-year vesting period. According to Linea.eth, LINEA has introduced a new L2 token economics model, featuring ETH as the sole gas token, no internal allocations, no token governance, 85% allocated to the ecosystem, and 15% to the Consensys treasury (locked for 5 years). The project utilizes a dual burn mechanism: all gas fees are paid in ETH, 20% of net transaction fees are burned for ETH, and 80% for LINEA, directly linking network usage and value growth. The ecosystem fund, which represents 75% of the total supply and is managed by the Linea Alliance, will allocate 25% for ecosystem incentives, and the remaining 50% will be vested over 10 years. 10% will be allocated to early contributors, 9% will be distributed to users via airdrops, and 1% will be used to incentivize strategic builders. The TGE's circulating supply represents approximately 22% of the total, or approximately 1.58 billion LINEA, which is 1,000 times the initial circulating supply of ETH. Coinbase to List BankrCoin (BNKR) on the Base Network Coinbase announced that it will add support for BankrCoin (BNKR) on the Base Network. Trading will begin on or after 9:00 AM Pacific Time on July 30, 2025, subject to liquidity conditions. Once sufficient supply of these assets is achieved, the BNKR-USD trading pair will be rolled out in phases. Support for BNKR may be limited in some supported jurisdictions. Coinbase Lists Treehouse (TREE) Coinbase announced it has added support for Treehouse (TREE), an ERC-20 token, on the Ethereum network, labeling it "experimental." The TREE-USD trading pair will be rolled out in phases once sufficient supply is available. Support for TREE may be restricted in some supported jurisdictions.
Hold at least 200 Binance Alpha Points to claim a 1,000 RHEA token airdrop
Binance announced it will be the first exchange to list Rhea Finance (RHEA). Trading will begin at 9:30 PM Beijing time on July 30, 2025. Binance is also launching an RHEA token airdrop. Users with at least 200 Binance Alpha Points can claim 1,000 RHEA tokens on a first-come, first-served basis.
Important Data
Anchorage Digital Purchased Over $1.19 Billion in Bitcoin in 9 Hours
According to Lookonchain, Anchorage Digital purchased a total of 10,141 BTC in the past 9 hours through multiple wallets, with a total value of approximately $1.19 billion.
Multiple Addresses Accumulated 648,000 ETH in the Past Two Weeks, Valued at $2.44 Billion
According to Ember, the address 0x3dF…E3E accumulated another 12,000 ETH (approximately $45.01 million) through Galaxy Digital seven hours ago. Since July 19th, this address has accumulated a total of 112,972 ETH (approximately $413 million) over eleven days, at an average price of $3,662. It is reported that since July 10th, related addresses (not the same entity) have accumulated large amounts of ETH through multiple channels, currently hoarding a total of 648,000 ETH, with a market value of approximately $2.44 billion and an average price of approximately $3,445.
According to @ai_9684xtpa, the address 8hQvQ...zund8 associated with the PENGU project has deposited another 150 million PENGU tokens to Binance, valued at approximately $5.64 million. This address received 1.35 billion tokens from the Pengu deployment address in December 2024. Since July of this year, a total of 485 million tokens have been transferred to exchanges, with a total value of $17.67 million and an average price of $0.03642. Binance: Gaia (GAIA) token airdrops require 233 and 200 Alpha points respectively. Binance announced that trading of Gaia (GAIA) tokens will officially open at 08:00 (UTC) on July 30, 2025. Eligible users can claim the 500 GAIA airdrop using Binance Alpha Points on the Alpha event page within 24 hours of trading opening. The airdrop will be conducted in two phases: Holders must hold at least 233 Alpha Points for the first 18 hours, and at least 200 Alpha Points for the second 6 hours. The threshold will automatically decrease by 15 points every hour if all rewards have not been distributed. Claiming the airdrop will cost 15 Alpha Points, and users must confirm their claim within 24 hours; otherwise, their share will be forfeited.
According to SoSoValue, on July 29th, US Eastern Time, the Ethereum spot ETF saw a total net inflow of $219 million, marking its 18th consecutive day of net inflows. Among them, BlackRock ETHA saw a net inflow of $224 million in a single day, bringing its cumulative net inflow to $9.704 billion; while 21Shares CETH saw a net outflow of $5.087 million. The current net asset value of Ethereum spot ETFs reached $21.613 billion, accounting for 4.75% of Ethereum's total market capitalization.
Financing/Acquisitions
RWAiFi project GAIB completes $10 million funding round, led by Amber Group
RWAiFi project GAIB completes $10 million funding round, led by Amber Group. The funds will be used to tokenize the platform's GPU assets and promote the development of the on-chain AI economy. By 2025, GAIB had attracted $28 million in deposits and partnered with DeFi protocols Morpho and Pendle. The platform supports entering the AI economy through synthetic dollars generated by AID and earning returns by staking AID (sAID). Earlier news broke that crypto AI company GAIB completed a $5 million Pre-Seed funding round, led by Hack VC. Decentralized AI infrastructure company Manifold secured $10.5 million in Series A funding, led by OSS Capital. Decentralized AI infrastructure company Manifold announced it has secured $10.5 million in Series A funding to accelerate the development of its decentralized AI cloud platform, Targon. This round was led by OSS Capital, with participation from prominent investors including Digital Currency Group, Tobias Lütke, Ram Shriram, Zachary Smith, Jacob Steeves, Ala Shaabana, and Logan Kilpatrick.
STON.fi, the leading decentralized exchange on the TON blockchain, has completed a $9.5 million Series A funding round, led by Ribbit Capital and CoinFund. The funds will be used to develop centralized liquidity pools, cross-chain functionality, and community governance, promoting bridgeless cross-chain exchange and expanding the DeFi ecosystem. Since its launch in 2022, STON.fi has achieved cumulative trading volume exceeding $6 billion.
Virtuals-based AI agent Billy Bets secures $1 million in funding
Virtuals-based AI agent Billy Bets recently secured $1 million in funding from investors including Coinbase Ventures, Virtuals Ventures, and Contango Digital Assets.
Institutional Holdings
BTCS Plans to Raise $2 Billion to Increase Cryptocurrency Investment
According to The Block, BTCS Inc., an Ethereum-focused blockchain technology company, filed documents with the U.S. Securities and Exchange Commission (SEC) on Tuesday, planning to raise up to $2 billion through multiple rounds of common stock offerings to fund future cryptocurrency acquisitions. BTCS currently holds approximately 70,028 ether, valued at approximately $265.3 million. The company stated that the proceeds from this fundraising will be used to purchase digital assets, supplement working capital, and for other corporate purposes. BTCS also filed an S-3 statement regarding over 5 million shares of common stock and expects to receive approximately $12 million from the exercise of warrants. BTCS is committed to continuously accumulating Ethereum assets and generating returns through diversified strategies including capital markets, staking, and blockchain construction.
Strategy Completes $2.521 Billion in Financing and Acquires 21,021 Bitcoins
According to Business Wire, Strategy completed a $2.521 billion IPO of STRC preferred stock on July 29, 2025, marking the largest US IPO to date in 2025. Net proceeds of $2.474 billion were used to purchase 21,021 bitcoins at an average price of approximately $117,256 per bitcoin. As of July 30, Beijing time, Strategy held 628,791 bitcoins, with a cumulative purchase cost of approximately $46.8 billion and an average price of approximately $73,227. STRC will be listed on the Nasdaq on July 30. Kraken Seeks $500 Million in Funding at a $15 Billion Valuation According to The Information, cryptocurrency exchange Kraken is seeking to raise approximately $500 million in funding at a $15 billion valuation. 180 Life, a publicly listed company, plans to raise approximately $425 million in a private placement and transform into an Ethereum Treasury Reserve Company. PANews reported on July 29 that PR Newswire reported that 180 Life Sciences Corp. (NASDAQ: ATNF), a US-listed company, announced its transformation into an Ethereum Treasury Reserve Company, raising approximately $425 million in private equity financing. Upon completion of the transaction, the company plans to change its name to ETHZilla Corporation. Private equity investors include Harbour Island, Electric Capital, Polychain Capital, GSR, and Omicron Technologies. Following the transaction, Electric Capital will serve as the company's external asset manager and plans to implement a differentiated on-chain yield generation program. This program aims to go beyond traditional ETH staking while maintaining robust risk management and incorporates staking, lending, liquidity provisioning, and customized private agreements. Twenty One expects to increase its holdings by 5,800 Bitcoins prior to its IPO, bringing its holdings to at least 43,500 Bitcoins. PANews reported on July 29 that Twenty One Capital, Inc. announced today that, following the completion of its business merger, it expects to receive approximately 5,800 Bitcoins from Tether prior to Twenty One's planned public listing. This means Twenty One's total holdings exceeded 43,500 Bitcoins as of market close. These figures would make Twenty One the third-largest corporate Bitcoin vault in the world. Twenty One has filed a draft registration statement on Form S-4 with the US SEC. Twenty One will seek to trade under the ticker symbol "XXI" upon completion of the business combination. Completion of the business combination is subject to customary closing conditions, including approval by CEP shareholders. Bitmine Discloses Its Ethereum Holdings Have Increased to Approximately 625,000 BTC PANews reported on July 29th that BitMine Immersion Technologies disclosed on the X platform that its total BTC holdings have reached 192 and its total ETH holdings have reached approximately 625,000 ETH. This represents an increase of 58,224 ETH, with a net asset value per BMNR share of $22.77. Earlier news broke that BitMine Immersion announced a $1 billion share repurchase plan. SharpLink disclosed that its total Ethereum holdings have increased to approximately 438,000 ETH. PANews reported on July 29th that Nasdaq-listed company SharpLink announced on the X platform that it purchased approximately 77,210 ETH for approximately $290 million between July 21st and 27th, with an average purchase price of approximately $3,756. As of now, it holds approximately 438,190 ETH. The ETH concentration per share is currently approximately 3.4, up from approximately 3.06 last week. This represents a roughly 70% increase in ETH per share since the implementation of the Ethereum Treasury Strategy on June 2nd, bringing the cumulative staking rewards to approximately 722 ETH.
PANews reported on July 29th that, according to CoinDesk, publicly listed DeFi Development announced that it increased its holdings of SOL by 181,303 between July 21st and July 28th, at an average purchase price of $155.33. Its total holdings increased to approximately 1.18 million SOL, valued at approximately $218 million.
PANews July 29th news. According to Globenewswire, energy management solutions provider ZOOZ Power Ltd. (Nasdaq and TASE: ZOOZ) today announced a $180 million private placement (PIPE) with qualified institutional investors to support its planned Bitcoin reserve strategy. The PIPE, which is subject to shareholder approval, is expected to sell 180 million shares of the company's common stock and prepaid warrants at $1 per share. Participants in the PIPE include strategic investors Pantera Capital, FalconX, Arrington Capital, UTXO Management, ATW Partners, and renowned Israeli investor Alex Rabinovitch. Bakkt to Raise $75 Million in a Rights Offering to Purchase Bitcoin and Other Digital Assets PANews reported on July 29th that Bakkt Holdings, Inc. (NYSE: BKKT) will issue 6,753,627 shares of Class A common stock and prepaid warrants to purchase up to 746,373 shares of Class A common stock, raising approximately $75 million. Bakkt intends to use the net proceeds from this offering to purchase Bitcoin and other digital assets in accordance with its investment policy, for working capital, and for general corporate purposes. Fundamental Global Completes $200 Million Private Placement and Launches ETH Reserve Program Fundamental Global announced the completion of a $200 million private placement, which will be used to purchase ETH as a primary treasury reserve asset and launch its Ethereum treasury strategy. The company will be renamed FG Nexus Inc., with the new stock ticker expected to launch on August 1st. Strategic investors include Galaxy Digital, Kraken, and DCG, with Galaxy assisting in the management of the Ethereum treasury. The company stated its commitment to promoting the adoption of Ethereum in the global financial system while offering staking rewards and opportunities for tokenizing real-world assets.
Hamak Gold, a UK-listed company, has purchased its first 20 Bitcoins and partnered with Archax.
Hamak Gold, a UK-listed company, announced its first purchase of 20 Bitcoins at an average price of £88,569, totaling approximately £1.7714 million, as part of its capital allocation and balance sheet optimization strategy. The company also established a strategic partnership with Archax, an FCA-regulated digital asset platform, to jointly advance its Bitcoin vault strategy.
The Smarter Web Company Purchases an Additional 225 Bitcoins, Bringing Its Total Holdings to 2,050
According to the London Stock Exchange website, London-listed technology company The Smarter Web Company (AQUIS: SWC) announced that it continues to implement its Bitcoin reserve strategy as part of its "Ten-Year Plan." It recently purchased an additional 225 Bitcoins at an average price of £88,482 (approximately $118,080) per coin, bringing its total holdings to £19,908,550. As of now, the company holds a total of 2,050 Bitcoins at an average purchase price of £81,346 (approximately $108,556) per coin, for a total investment of £166,758,900. The company's year-to-date Bitcoin return has reached 49,198%, with a 30-day return of 224%.
Round Coin Technology Completes US$40 Million Series A2 Funding, Led by ZhongAn International
Hong Kong fintech group RD Technologies announced the successful completion of nearly US$40 million in Series A2 funding. This round was led by ZhongAn International (ZA Global), China Harbour, Bright Venture, and Hivemind Capital, with participation from Sequoia Capital China (HSG), Eternal Digital, Junshi Investments, and Guotai Junan International Private Equity Fund. RD Technologies stated that this funding will accelerate the development of its regulated stablecoin infrastructure and actively cooperate with Hong Kong's upcoming stablecoin licensing regime. At the same time, ZhongAn Bank has signed a strategic cooperation memorandum with Yuanbi Technology to jointly explore the compliant application of stablecoins in financial services.
