News preview:

Coinbase Derivatives Exchange to Launch American Perpetual Contracts on July 21
Fed Chairman Powell will deliver a welcome speech at a regulatory conference on July 22
Fed to hold meeting on bank capital on July 22
White House Digital Asset Markets Working Group expected to release first crypto policy report on July 22
Trump plans to issue an executive order to promote the development of artificial intelligence, plans to deliver a speech on artificial intelligence on July 23, and considers designating that day as "AI Action Day"
Avail (AVAIL) will unlock approximately 972 million tokens at 4:00 pm Beijing time on July 23, accounting for 38.23% of the current circulation, with a value of approximately US$18.9 million.

July 21

Policy supervision:

Thailand SEC solicits public opinions on new rules for listing crypto assets, and the opinion collection will last until July 21

The Securities and Exchange Commission of Thailand (SEC) announced the launch of a public consultation on new rules for the listing of digital assets, which will last until July 21, 2025. The new rules propose that exchanges be allowed to list digital tokens issued by themselves or their affiliates, while requiring stricter information disclosure to prevent insider trading. The new rules also require the disclosure of information about people related to the token issuer and the marking of warning symbols in the reporting system to strengthen market supervision.

Exchange:

Coinbase Derivatives Exchange to Launch American Perpetual Contracts on July 21

Coinbase Derivatives Exchange will launch US-style perpetual futures products on July 21, including nano Bitcoin (0.01 BTC) and nano Ethereum (0.10 ETH) perpetual contracts. The contract is designed to emulate the functions of global perpetual contracts while complying with US regulatory standards. The product is a forward futures contract (expiring in 5 years), supports 24-hour uninterrupted trading, and introduces a funding rate mechanism to keep futures prices closely linked to the spot market. Funding fees are accumulated hourly and settled twice a day at a specified time. At the time of settlement, the accumulated funding fees are uniformly transferred to or deducted from the trader's account. This is the first such product in the US market, aiming to fill a gap in the local derivatives market.

Trusta.AI (TA) will be available on Binance Alpha and Binance Futures on July 21

Trusta.AI (TA) will be available for trading on Binance Alpha at 07:00 (UTC) on July 21, 2025, and TAUSDT perpetual contracts will be launched at 07:30 (UTC) on the same day, with a leverage of up to 50x. Binance is the first platform to launch Trusta.AI (TA). To celebrate the launch, eligible users can claim exclusive airdrops on the Binance Alpha event page through Binance Alpha points from 07:00 on July 21 to 07:00 on July 22 (UTC). Trusta.AI is an identity and on-chain reputation protocol that redefines trust in the AI era.

Project dynamics:

Electric car company Volcon expects to raise more than $500 million around July 21 to launch Bitcoin financial strategy

Volcon, an American electric car company, announced that it will adopt a Bitcoin financial strategy. It has entered into a securities purchase agreement with certain institutions and qualified investors to purchase and sell 50,142,851 shares of common stock in a private placement at a price of $10 per share, with an estimated total proceeds of more than $500 million, excluding placement agent fees and other issuance expenses (private placement). Empery served as the lead investor, and participants in this issuance included well-known crypto venture capital firms and infrastructure providers such as FalcolnX, Pantera, Borderless, RK Capital and Relayer Capital, as well as traditional financial investors. The issuance is expected to be completed on or about July 21, 2025, subject to customary closing conditions. The company plans to immediately use at least 95% of the total proceeds to acquire Bitcoin, which will serve as the company's main financial reserve asset.

Governance Voting:

Berachain launched a proposal to "redistribute 33% of PoL rewards allocated to BGT to the BERA income module" and the community vote will be held on July 21

The Berachain team proposed the PoL v2 proposal, which plans to provide BERA token holders with a more direct path to income. According to the proposal, 33% of the existing PoL incentives will be reallocated to a new BERA reward module, and BERA holders can earn income through the protocol itself without using complex third-party applications or tools. In addition, the newly added LST (liquidity staking token) staking function allows BERA holders to obtain both verification node rewards and PoL income at the same time, further improving network security. The proposal was released on July 14 and is scheduled for a community vote on July 21. If passed, it will be launched on the mainnet on the same day.

July 22

Policy supervision:

Federal Reserve Chairman Powell will deliver a welcome speech at a regulatory meeting at 8:30 p.m. on Tuesday, July 22.

Fed to hold meeting on bank capital on July 22

Federal Reserve Governor Bowman said it is time to consider adjusting the policy rate. If inflation continues to fall or the labor market is weak, interest rate cuts may be possible. The Federal Reserve will hold a meeting on bank capital on July 22, and Bowman will host a fireside chat at the Federal Reserve's large bank capital framework meeting. U.S. Treasury yields continued to fall after Federal Reserve Governor Bowman hinted that a rate cut may be possible in July.

White House Digital Asset Markets Working Group expected to release first crypto policy report on July 22

The U.S. House of Representatives is on recess this week due to schedule adjustments, while the Senate will turn its focus to the structure of the cryptocurrency market. The Senate Banking Committee will hold a hearing on Wednesday to discuss the establishment of a regulatory framework for the $3 trillion digital asset industry, and is expected to release a discussion draft on market structure reform this week. The draft will combine the relevant content of the Lummis-Gillibrand Responsible Financial Innovation Act of 2023 and the House CLARITY Act, with the goal of promoting the legislative process before the August recess.

Next week, the House of Representatives will vote on the stablecoin bills GENIUS Act, CLARITY Act and anti-central bank digital currency monitoring bills passed by the Senate. In addition, the White House Digital Asset Market Working Group is expected to release its first crypto policy report on July 22, covering regulatory and legislative recommendations, or involving the establishment of a national digital asset reserve and ensuring that crypto companies have fair access to banking services.

Exchange:

Binance Alpha to List Yala (YALA) on July 22

Binance Alpha will launch Yala (YALA) on July 22. Eligible users can go to the Alpha event page to claim the airdrop using Binance Alpha points after Alpha trading is open. Specific details will be announced separately.

Binance Wallet Exclusive TGE 31 to List Delphinus Lab (ZKWASM) on July 22

Binance Wallet exclusive TGE 31 will list Delphinus Lab (ZKWASM).

Subscription time: 4:00 pm to 6:00 pm on July 22, 2025 (UTC+8);
Subscription qualifications: Eligible users must use Binance Alpha Points to participate;
The additional 40,000,000 ZKWASM will be used for future activities, the details of which will be announced separately.

Huobi HTX will delist 14 currencies including BEER, EVMOS, and FIGHT on July 22

Huobi HTX will stop trading BEER, EVMOS, EPIK, FIGHT, GROKCOIN, LESTER, NEST, OMNIA, POOLX, RAIN, REN, SMOLE, SPORE and WNXM at 15:00 (UTC+8) on July 22, and will delist the above assets. According to the Huobi HTX Token Management Rules, Huobi HTX will regularly evaluate all assets on the platform and delist assets whose average daily trading volume continues to fail to meet the standards for 30 consecutive days.

Project dynamics:

AML Bitcoin founder to be sentenced on July 22, faces up to 30 years in prison for fraud and money laundering

A federal jury in San Francisco has convicted AML Bitcoin founder and CEO Rowland Marcus Andrade of wire fraud and money laundering. Andrade will be sentenced on July 22, 2025. He faces up to 20 years in prison for wire fraud, up to 10 years in prison for money laundering, and forfeiture of assets related to his crimes.

According to evidence presented at trial, Andrade, 47, of Texas, misappropriated more than $2 million from AML Bitcoin sales for personal expenses, including the purchase of two Texas properties and two luxury cars. He laundered investor funds through various bank accounts and then used those funds to finance his own purchases. The jury found that Andrade falsely represented that AML Bitcoin was about to receive approval from the Panama Canal Authority, when no such agreement existed. Through these false statements, he raised millions of dollars from investors.

Spark's first phase of Ignition airdrop will end at 22:00 on July 22

The decentralized finance protocol Spark announced the launch of its native token SPK and launched the first phase of Ignition airdrop. SPK holders can participate in protocol governance, stake tokens to earn rewards, and use them for protocol security in the future. The total supply of SPK is 10 billion, which will be distributed within 10 years, of which 65% will be used for user rewards, 23% for ecosystem development, and 12% for core contributors.

The 650 million SPKs allocated by Sky Farming will be distributed at 1.625 billion per year in the first two years, and will decrease year by year thereafter. The 230 million SPKs allocated by the ecosystem will be distributed in part through Ignition airdrops, and the contributor tokens will be gradually released after 12 months.

The airdrop activity is now open. Users can claim and earn extra SPK rewards through Overdrive staking before 22:00 Beijing time on July 22.

Sahara AI public beta will be launched on July 22

Sahara AI announced that the public beta version of Data Services Platform will be officially launched on July 22, and anyone can participate in the construction of AI and receive real token rewards. At the same time, the platform will also provide new ways to earn and additional incentives for exclusive partners, and will be open to the world.

Governance Voting:

Panbubu’s governance vote on the token economic model will end on July 22

AI+ZK public chain Polyhedra said that Panbubu has opened the PANBUBU token economic model governance vote. The vote is open to all SBT holders, and participants will vote on key parameters such as token issuance mechanism, distribution structure and incentive plan. This round of governance marks the entry of Panbubu into a critical stage led by the community, aiming to build a more sustainable, consensus-driven economic system. The voting deadline is 7:59 on July 22.

July 23

Policy supervision:

Trump plans to issue an executive order to promote the development of artificial intelligence and considers setting July 23 as "AI Action Day"

The Trump administration is preparing a series of executive actions aimed at powering the expansion of artificial intelligence in the United States, according to four people familiar with the matter. Among the measures being considered are making it easier for power generation projects to connect to the grid and providing federal land for the construction of data centers needed to expand artificial intelligence technology, the sources said. According to data from Grid Strategies, a power industry consulting firm, U.S. electricity demand is expected to grow five times faster than the 2022 forecast between 2024 and 2029. A report by consulting firm Deloitte shows that by 2035, the demand for electricity from artificial intelligence data centers could grow more than 30 times. People familiar with the matter said the government is considering putting high-maturity power generation projects in the front of the grid connection queue. The executive order will also authorize the Department of Defense and the Department of the Interior to govern land for project construction. The government is also considering simplifying data center permits by developing a national Clean Water Act permit, rather than requiring companies to apply for permits state by state. In addition, the White House is considering setting July 23 as "AI Action Day."

According to market news: Trump plans to deliver a speech on artificial intelligence on July 23

Trump plans to deliver a major speech on artificial intelligence next week, outlining his vision for ensuring the United States maintains dominance in the field of artificial intelligence. Trump is scheduled to speak at an event called "Winning the AI Race" on July 23, an administration official said in advance. The speech comes as the Trump administration is putting the final touches on an artificial intelligence action plan. The policy directive was ordered by Trump a few days after he took office in January. After the plan is released, Trump is expected to sign an executive order to implement the relevant policies, another person familiar with the matter said. Trump showed his interest in artificial intelligence early during his campaign, promising to unleash the vitality of artificial intelligence innovation by abolishing what his predecessor called "overly cumbersome regulations."

Project dynamics:

Latest Ethereum ACDE meeting: Developers plan to launch Fusaka Devnet-3 on July 23

The minutes of the 216th Ethereum Executive Core Developers Meeting (ACDE) summarized by Christine Kim show that today developers decided to remove EIP 7907 from the Fusaka upgrade, which means that there will be no changes to Ethereum's smart contract code size limit in the foreseeable future. A version of this EIP may be re-proposed for the Glamsterdam hard fork, but there is no guarantee that it will be included in the next hard fork. In addition, Tim Beiko shared a possible timetable for Fusaka's launch on the mainnet at the meeting. The proposed timetable is as follows: 1. Client public testnet release: the week of August 25; 2. First public testnet upgrade: September 22 to October 3; 3. Second testnet upgrade: October 6 to 10. ; In addition, developers plan to launch Fusaka Devnet-3 on July 23.

Regarding the Glamsterdam hard fork, developers have generally reached a consensus on what they plan to implement. However, they are still discussing several key issues on how the fork, including the "proposer-builder separation solidification mechanism" and the "block-level access list", will be implemented. After further consultation with the wider Ethereum community, developers plan to make a final decision on the core code changes in the Glamsterdam upgrade in the next two to four weeks.

Token unlocking:

Avail (AVAIL) will unlock approximately 972 million tokens at 4:00 pm Beijing time on July 23, accounting for 38.23% of the current circulation, with a value of approximately US$18.9 million.

SOON (SOON) will unlock approximately 41.88 million tokens at 4:30 pm Beijing time on July 23, accounting for 22.41% of the current circulation, with a value of approximately US$6.1 million.

July 24

Exchange:

Binance Alpha to List Aspecta (ASP) on July 24

Binance Alpha will launch Aspecta (ASP) on July 24. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page, which will be available once trading is open. More details will be announced soon.

In addition, OKX will also launch ASP (ASPECTA) spot trading on July 24.

July 25

Exchange:

Binance will adjust the collateral ratio of various delivery contract assets on July 25 and August 1

Binance Leverage will adjust the collateral ratios of various delivery contract assets such as AWE, MDT, IDEX, BAKE, SLF, FIS, MOVE, FORM, RLC, STG, HIGH, SNX, MBOX, AXL, etc. at 06:00 (UTC) on July 25, 2025 and 06:00 (UTC) on August 1, 2025. After the adjustment, the collateral level and ratio of different assets will change. Users need to pay close attention to the account margin level to avoid potential forced liquidation or losses due to the adjustment.

Project News:

US prosecutors expect to wrap up Roman Storm case by July 25

The criminal trial of Tornado Cash co-founder Roman Storm in New York entered its fourth day, with FBI witnesses testifying. The prosecution is expected to wrap up its evidence next week, after which the defense will begin calling witnesses. Storm is accused of money laundering, operating an unlicensed remittance business, and violating U.S. sanctions laws, and could face years in prison if convicted. The defense plans to use witnesses to state the importance of encrypted privacy services to user security as a defense.

Token unlocking:

Venom (VENOM) will unlock approximately 59.26 million tokens at 4:00 pm Beijing time on July 25, accounting for 2.84% of the current circulation and worth approximately US$13.4 million.

AltLayer (ALT) will unlock approximately 240 million tokens at 6:00 pm Beijing time on July 25, accounting for 6.39% of the current circulation, with a value of approximately US$8.9 million.

July 26

Token unlocking:

Sahara AI (SAHARA) will unlock approximately 84.27 million tokens at 8:00 pm Beijing time on July 26, accounting for 4.13% of the current circulation and worth approximately US$6.9 million.

July 27

None

数据：DEX与CEX现货交易量比率首次超过20%

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