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Regulatory/Macro

More than 50 companies in Hong Kong intend to apply for stablecoin licenses

According to Hong Kong 01, with the Stablecoin Ordinance to be officially implemented on August 1, 50 to 60 companies are interested in applying for Hong Kong stablecoin licenses, half of which are payment institutions and the other half are well-known Internet companies, most of which have Chinese backgrounds. The industry expects that only 3 to 4 licenses will be issued in the first phase, and the initial stablecoins will mainly be pegged to the Hong Kong dollar and the US dollar.

Bitcoin's record high price does not trigger a surge in searches

According to Bitcoin News, although the price of Bitcoin hit a new high of $119,444 on the Bitstamp exchange, Google Trends data shows that the public's search interest in Bitcoin is far from the heat during the bull market in 2021 and 2017. Analysts believe that the current retail market sentiment is relatively calm, and the price increase has not attracted large-scale attention.

Bank of England Governor warns of risks of private stablecoin issuance, suggests focus on deposit tokenization

In an interview with The Sunday Times, Andrew Bailey, Governor of the Bank of England, warned that banks issuing stablecoins could pose systemic risks, threaten the stability of the financial system, and could lead to a loss of control over sovereign currencies. He suggested that the Bank of England should focus on deposit tokenization rather than launching a central bank digital currency (CBDC) or centralized digital fiat currency. Bailey currently serves as the chairman of the Financial Stability Board (FSB), an international financial regulator, and may strengthen supervision of stablecoins in the future. In addition, officials from many European countries have also expressed concerns about the US plan to promote a stablecoin for the US dollar, believing that this could threaten the status of the euro.

Huang Renxun will hold a media briefing in Beijing on July 16

According to Reuters, an executive of Nvidia said on the 13th that the company's CEO Huang Renxun will hold a media briefing in Beijing on July 16. Two US senators wrote to Huang Renxun on the 11th regarding this trip to China, asking him not to meet with companies suspected of undermining US chip export controls. In addition, they also asked Huang Renxun to avoid contact with entities on the US export restriction list. According to the Financial Times, Nvidia will launch a new version of artificial intelligence chips customized for the Chinese market as early as September. It is reported that the third China International Supply Chain Promotion Expo will open in Beijing on July 16, and Nvidia will participate in the exhibition for the first time. According to the Financial Times, citing people familiar with the matter, Nvidia CEO Huang Renxun will also go to Beijing to attend the event. In addition to promoting Nvidia's new products, he will also reiterate his long-term commitment to the Chinese market.

Hong Kong-listed cryptocurrency stocks rose across the board, with OKEx closing up 46.24%

At the close of Hong Kong stocks, cryptocurrency stocks performed strongly. OKEx led the gains, up 46.24%; Xiongan Technology rose 35%; Linekong Interactive rose more than 13.13%; Xinhuo Technology Holdings rose 7.02%; Huaxing Capital closed up 6.23%. Earlier news, Lianlian Digital's stock price closed up 23.51%, and it had announced that it planned to raise funds to develop blockchain technology in the payment field.

Viewpoint

Bitwise CEO: Ethereum's real competitors are Web2 and traditional finance, not Bitcoin

Bitwise CEO Hunter Horsley tweeted that Ethereum is not competing with Bitcoin, but with Web 2.0 and traditional financial services software. He said that in the next 6 to 12 months, the industry will gradually get rid of the "CoinMarketCap" era and no longer regard all crypto assets as homogeneous products that are only differentiated by market value. Just as the applications on the iPhone have similar technical foundations but different use cases, there are also diversity and differences in opportunities between different blockchains.

Project News

Lagrange Foundation may buy back $LA tokens to stabilize price

The Lagrange Foundation said in a statement that it has noticed the price fluctuations of $LA and announced that it may participate in the repurchase of $LA tokens in the future to help stabilize the price. The Foundation stated that all actions will comply with relevant laws and regulations, and the repurchase situation will be disclosed to the community after it occurs.

Core staking wallet transfers 1,803 BTC to Binance

According to Onchain Lens, 14 hours ago, the Core (Core DAO) staking wallet transferred 1,803 bitcoins worth approximately $214 million to Binance.

Several CEXs have received $PUMP tokens and may open soon

According to Ember, the six centralized exchanges (CEX) participating in the $PUMP public offering have all received $PUMP tokens. On-chain data shows that Kraken holds 7.5 billion, Bitget holds 7.5 billion, Gate holds 6.4 billion, Bybit holds 5 billion, MEXC holds 5 billion, and Kucoin holds 4.1 billion. The market expects that $PUMP may open for trading tonight or tomorrow.

OKX will delist LSK/USDT, LOOKS/USDT and PIPPIN/USDT perpetual contract trading pairs on July 18

OKX announced that it will delist the following perpetual contract trading pairs at 16:00 on July 18: LSKUSDT, LOOKSUSDT and PIPPINUSDT.

Binance will launch AXS/USDC, COMP/USDC and XAI/USDC spot trading pairs on July 15

Binance announced that it will launch AXS/USDC, COMP/USDC and XAI/USDC spot trading pairs at 16:00 on July 15, providing users with more trading options. At the same time, Binance will open spot algorithmic order services for these trading pairs at the same time. In addition, NEAR/USDC and UNI/USDC trading pairs will support spot grid and cost averaging (DCA) trading robot services.

Important data

Abraxas Capital shorted BTC, ETH, and Solana, with cumulative losses exceeding $100 million

According to Lookonchain, Abraxas Capital’s two wallets on the Hyperliquid platform have accumulated losses of more than $107 million due to shorting crypto assets such as Bitcoin, Ethereum, and Solana. It is reported that these shorting operations are intended to hedge its spot positions.

BTC breaks through $123,000, up 3.71% on the day

The OKX market data shows that BTC has just broken through $123,000 and is currently trading at $123,078.10 per coin, with a daily increase of 3.71%.

More than 45,800 ETH transferred from Binance to an unknown wallet, worth about $138.9 million

According to Whale Alert, 45,846 ETH were transferred from Binance to an unknown wallet at 15:29, worth approximately US$138.9 million.

Wintermute may be one of the $PUMP market makers and has received a small test transfer from the project party

According to monitoring by ai_9684xtpa, in the past 11 hours, the Pump.fun project related addresses have carried out a small test transfer of 10 PUMPs, including the Wintermute address, indicating that it may be one of the market makers of the PUMP project. It is expected that more market-making tokens will be transferred today and tomorrow. In addition, according to its analysis, tonight at 10 o'clock will be the time node of 48 hours after the PUMP public sale, and the project token generation event (TGE) may occur between tonight at 10 o'clock and tomorrow night at 10 o'clock.

Market: BNB breaks through $700

The market data shows that the price of BNB has exceeded US$700 and is currently trading at US$701.87, up about 2% on the day.

Ethereum spot ETF had a net inflow of $908 million last week, marking nine consecutive weeks of net inflows

According to SoSoValue data, from July 7 to 11, Eastern Time, Ethereum spot ETFs had a net inflow of $908 million in a single week, and all nine ETFs had no net outflow. Among them, BlackRock's ETHA had a net inflow of $675 million, with a historical cumulative inflow of $6.29 billion; Fidelity's FETH had a net inflow of $87.04 million, with a cumulative inflow of $1.83 billion. As of now, the total net asset value of Ethereum spot ETFs is $13.53 billion, accounting for 3.77% of Ethereum's market value. The historical cumulative net inflow has reached $5.31 billion.

Bitcoin spot ETFs saw net inflows of $2.72 billion last week, marking five consecutive weeks of net inflows

According to SoSoValue data, from July 7 to 11, Eastern Time, Bitcoin spot ETFs had a net inflow of $2.72 billion per week, the fifth consecutive week of net inflow. BlackRock's IBIT recorded the highest single-week net inflow of $1.76 billion, with a total inflow of $54.4 billion; Fidelity's FBTC had a net inflow of $400 million, with a total inflow of $12.61 billion. Grayscale's GBTC had a net outflow of $50.37 million, with a total net outflow of $23.38 billion. As of now, the total net asset value of Bitcoin ETFs is $150.6 billion, accounting for 6.43% of the Bitcoin market value.

Financing/Acquisition

Circle Games Completes $7.25 Million New Round of Funding, Led by Bitkraft Ventures

Istanbul-based game studio Circle Games has raised $7.25 million in its latest round of funding, led by Bitkraft Ventures, with participation from a16z Speedrun, Play Ventures, e2vc and APY Ventures. The company plans to use the funds to advance the development of its new game Sort Express and expand its team.

Institutional holdings

DigitalX spends $19.7 million to buy 109.3 Bitcoins

According to the official website of DigitalX Investor Hub, DigitalX Limited (ASX:DCC) announced that it has successfully invested approximately US$19.7 million in strategic placement funds into Bitcoin, purchasing 109.3 Bitcoins at an average price of approximately US$118,000 per Bitcoin. The company currently holds a total of 367.3 Bitcoins, including 174.4 directly held and 192.9 indirectly held through the ASX Bitcoin ETF (BTXX). The company stated that it will continue to focus on Bitcoin as its core financial strategy and is committed to creating long-term value for shareholders.

Metaplanet spent $93.6 million to buy another 797 Bitcoins, bringing its total holdings to 16,352 BTC

According to Metaplanet's announcement, Metaplanet Inc. announced that it had purchased 797 new bitcoins, with an average purchase price of 17,312,239 yen and a total expenditure of approximately 13.798 billion yen. The company's total bitcoin holdings have now increased to 16,352, with a cumulative purchase cost of 239.616 billion yen and an average purchase price of 14,653,636 yen. According to SoSoValue analysis, compared with the previous period (announced on July 6, 2025), when 2,205 bitcoins were purchased for $108,237, the number of bitcoins purchased in this period decreased by approximately 63.85% month-on-month, and the total investment decreased by approximately 60.79% month-on-month.

SharpLink Gaming purchased another 16,374 ETH 7 hours ago, and its holdings have reached 270,000

According to Ember, SharpLink Gaming purchased another 16,374 Ethereum (ETH) 7 hours ago, worth about $48.85 million. Its total ETH holdings have now increased to 270,000. Since starting to reserve ETH in the "micro-strategy" mode in early June, SharpLink Gaming has purchased a total of 270,000, with an average purchase price of about $2,667, and currently has a floating profit of about $81.8 million.

Abraxas Capital Withdraws $126 Million Worth of ETH from CEX in the Last 24 Hours

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